Robert P. Hutchison

Mood Media Corporation applied for an order to cease to be a reporting issuer in all jurisdictions of Canada where it is a reporting issuer.

The application followed a comprehensive transaction, including a plan of arrangement, which resulted in the acquisition and redemption of all issued and outstanding common shares, the exchange of notes, and the redomiciliation of the corporation to Delaware.

Following the transaction, the corporation had no outstanding securities other than new company shares held by former noteholders, with only one resident in Canada.

The Ontario Securities Commission granted the order, determining that the corporation met the test under the legislation to cease being a reporting issuer.

The applicant, Thales, applied to the Ontario Securities Commission for exemptive relief from the prospectus and dealer registration requirements in connection with a global employee share offering.

The offering involved the issuance of units of a temporary French mutual fund to Canadian employees, which would later merge into a principal fund.

The Commission granted the requested relief, subject to conditions regarding the first trade of the securities and the applicant's non-reporting issuer status in Canada.