Noront Resources Ltd. V.NOT

The ironic thing to all this ?

[lou64]

Is that why hasn't the Canadian Ministry of Innovation science and industry made comment over a foreign ownership ???????????? 

BOTH Aussie companies are the parent owners of their so- called Canadian divisions ( Canadian Cora ) that were made up to buy into Noront  ...... meaning they both are still Foreigners without CONSENT of legal title
 

Foreign ownership restrictions

The Investment Canada Act applies to all acquisitions of control by a non-Canadian investor over a Canadian business.

Most investments subject to the Investment Canada Act only require the submission of a short notification filing, which can be made before or within 30 days of closing. However, an investment that is above the applicable financial threshold cannot close unless the Canadian Minister of Innovation, Science and Industry determines that the investment is of "net benefit to Canada". The applicable financial threshold depends on the nature of the investor, the nature of the investment and the nature of the Canadian business being acquired. A direct investment is generally only subject to the pre-closing approval requirement where the Canadian business has an enterprise value of at least:

• CAD1.075 billion (adjusted annually), if the investor is controlled by nationals of a member country of the World Trade Organization.
• CAD1.613 billion (adjusted annually), if the investor is controlled by nationals of a country with which Canada has a trade agreement.
• There are broad exceptions to the financial thresholds described above, including if the investor is a state-controlled enterprise or if the Canadian business carries on cultural activities.

Separate from the review process described above, where the Canadian Minister of Innovation, Science and Industry has reasonable grounds to believe that an investment in a Canadian business by a non-Canadian investor could be injurious to national security, the Minister can issue a notice to the investor that the investment will be subject to a national security screen. If the Minister issues a notice before closing, the investment cannot close until the national security review is completed (provided that the review does not result in an order blocking the investment).