P.L. Kennedy

The filer, Thomson Reuters Corporation, applied to the Ontario Securities Commission for an exemption from the prospectus requirement for trades in its commercial paper.

The commercial paper did not meet the 'approved credit rating' definition under National Instrument 45-106 because it held a lower rating from one of the rating organizations.

The Commission granted the exemptive relief, allowing the trades without a prospectus, subject to conditions including that the commercial paper matures within one year, is not asset-backed, and maintains prescribed minimum ratings from specified rating organizations.

The applicants, a U.K. listed parent company and its Canadian wholly-owned subsidiary, applied for exemptive relief from continuous disclosure, certification, audit committee, and insider reporting requirements.

The subsidiary could not rely on the credit support issuer exemption in section 13.4 of NI 51-102 because the parent was not an SEC issuer.

The Ontario Securities Commission granted the requested relief, subject to conditions substantially analogous to those in section 13.4 of NI 51-102, including that the parent meets the definition of a designated foreign issuer.

The Filer, a wholly-owned subsidiary following an amalgamation, applied for a decision that it is no longer a reporting issuer in the applicable jurisdictions.

The Filer's securities were delisted and it had no intention to seek public financing.

The Ontario Securities Commission, acting as principal regulator, granted the requested exemptive relief, determining that the Filer met the test to cease being a reporting issuer despite a default in filing interim financial statements.

The Applicant, Creston Moly Corp., applied for an order to be deemed to have ceased to be a reporting issuer in Alberta, Manitoba, Ontario, and Nova Scotia.

The Applicant's outstanding securities were beneficially owned by fewer than 15 security holders in each jurisdiction and fewer than 51 in total in Canada.

The Ontario Securities Commission, acting as principal regulator, granted the requested exemptive relief.