OSC 2025

Plateau Energy Metals Inc. applied to the Ontario Securities Commission for an order to cease being a reporting issuer.

The Filer had become a wholly-owned subsidiary of American Lithium Corp. following a court-approved plan of arrangement and its shares were delisted.

Although subject to a failure-to-file cease trade order for unfiled continuous disclosure documents, the Filer met the criteria for the requested relief as its outstanding securities were beneficially owned by fewer than 15 securityholders in each Canadian jurisdiction and fewer than 51 worldwide.

The principal regulator granted the order.

The Filers applied for exemptive relief from the Underwriting Conflict Restriction in subsection 4.1(1) of National Instrument 81-102 to permit their dealer managed investment funds to invest in debt securities of non-reporting issuers during a distribution underwritten by an affiliate, or within 60 days thereafter.

The Ontario Securities Commission granted the exemption, subject to conditions requiring independent review committee oversight and specific conflict mitigation policies, and revoked prior relief.

The applicant investment fund manager applied for exemptive relief on behalf of its mutual funds from certain short selling, cash cover, and custodial requirements under National Instrument 81-102.

The relief was sought to facilitate an interest rate risk hedging strategy involving the short selling of government securities, including those of the United Kingdom and Germany.

The principal regulator granted the requested exemptions, revoking and replacing previous decisions to expand the definition of government securities and maintain custodial relief, subject to specified conditions including aggregate exposure limits and internal controls.