Headnote National Policy 11-203 Process For Exemptive Relief Applications in Multiple Jurisdictions -application for an order that the issuer is not a reporting issuer. Applicable Legislative Provisions Securities Act,R.S.O. 1990, c.S.5, as am., ss.1(10)
October 28, 2011
F. John Durdan
Gowling Lafleur Henderson LLP
50 Queen Street North
Suite 1020, P.O. Box 2248
Kitchener, ON N2H 6M2
Dear Mr. Durdan:
Re: Dexit Inc. (formerly Posera - HDX Inc.) (the Applicant) - application for a decision under the securities legislation of Ontario, Alberta, Saskatchewan, Manitoba, Quebec, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador (the Jurisdictions) that the Applicant is not a reporting Issuer
The Applicant has applied to the local securities regulatory authority or regulator (the Decision Maker) in each of the Jurisdictions for a decision under the securities legislation (the Legislation) of the Jurisdictions that the Applicant is not a reporting issuer.
As the Applicant has represented to the Decision Makers that:
(a) the outstanding securities of the Applicant, including debt securities, are beneficially owned, directly or indirectly, by fewer than 15 security holders in each of the jurisdictions in Canada and fewer than 51 security holders in total in Canada;
(b) no securities of the Applicant are traded on a marketplace as defined in National Instrument 21-101 Marketplace Operation;
(c) the Applicant is applying for a decision that it is not a reporting issuer in all of the jurisdictions in Canada in which it is currently a reporting issuer; and
(d) the Applicant is not in default of any of its obligations under the Legislation as a reporting issuer,
each of the Decision Makers is satisfied that the test contained in the Legislation that provides the Decision Maker with the jurisdiction to make the decision has been met and orders that the Applicant is not a reporting issuer.
“Jo-Anne Matear”
Jo-Anne Matear
Manager, Corporate Finance
Ontario Securities Commission