Post by
CookingWithFire on Apr 04, 2022 5:54pm
Reply from OSC
Thank you for your email to the Ontario Securities Commission (OSC) about the transaction involving Noront Resources Ltd. and Wyloo Metals and Wyloo Canada (Wyloo). I appreciate your concern, and have forwarded your comments to appropriate staff for a regulatory review of the transaction. Just as background, the OSC regulates the distribution of securities to the public in Ontario, the disclosure of information by public companies, and the processes for certain transactions by those companies. The OSC does not otherwise regulate the business decisions of issuers. However, if staff find potential breaches of Ontario securities law they will address those issues with the company directly. Although you will not hear back from us about staffs review, if there is any resulting public information it would be published on the OSC website, if for example OSC staff were to bring a proceeding, or on the website of the System for Electronic Document Analysis and Retrieval (SEDAR) (at: www.sedar.com) if the company needed to update its disclosure information. As you probably know, information required by securities law to be disclosed to the public must be filed on SEDAR. The documents related to this transaction filed by Noront are available on the SEDAR website under Noronts profile. Thank you again for taking the time to write to us. Regardless of the outcome of staffs review in this matter, comments such as yours, and those of others, help us better regulate the markets in Ontario.