CCC Internet Solutions Inc. - ss. 83.1(1)
Headnote
Reporting issuer in British Columbia and Alberta that is listed on CDNX deemed to be reportingissuer in Ontario.
Statutes Cited
Securities Act, R.S.O. 1990, c.S.5, as cm., s. 83.1 (1).
Policies Cited
Policy 12-602 Deeming an issuer from certain other Canadian Jurisdictions to be a Reporting Issuerin Ontario (2001) 24 OSCB 1531.
IN THE MATTER OF
THE SECURITIES ACT
R.S.O. 1990, CHAPTER S.5, AS
AMENDED ("the Act")
AND
IN THE MATTER OF
CCC INTERNET SOLUTIONS INC.
ORDER
(Subsection 83.1(1) of the Act)
UPON the Application of CCC Internet Solutions Inc. (the "Corporation" or "CCC InternetSolutions") to the Ontario Securities Commission (the "Commission") for an Order pursuant tosubsection 83.1(1) of the Securities Act (Ontario) (the "Act") deeming the Corporation to be areporting issuer for purposes of Ontario securities law;
AND UPON considering the Application and the recommendation of the staff of theCommission;
AND UPON the Corporation having represented to the Commission as follows:
1. CCC Internet Solutions was incorporated pursuant to the laws of the Province of BritishColumbia on June 17, 1999 under the name of "Duke Capital Corp.". It subsequentlychanged to its current name, "CCC Internet Solutions Inc.", on October 29, 2000.
2. The Corporation has been a reporting issuer under the Securities Act (British Columbia) sinceOctober 22, 1999 upon the receipt of its prospectus by the British Columbia SecuritiesCommission. The Corporation became a reporting issuer under the Securities Act (Alberta)on November 26, 1999 pursuant to the merger of the Vancouver Stock Exchange ("VSE")with the Alberta Stock Exchange ("ASE").
3. CCC Internet Solutions is not a reporting issuer or the equivalent under the securitieslegislation of any other jurisdiction in Canada.
4. The continuous disclosure requirements of the Securities Act (Alberta) and Securities Act(British Columbia) are substantially the same as the requirements under the Act. Thecommon shares of CCC Internet Solutions were listed on the VSE on November 24, 1999.
5. The Corporation's common shares currently trade on the Canadian Venture Exchange("CDNX"), the successor to the VSE pursuant to its merger with the ASE, under the tradingsymbol "CIS".
6. The materials filed by the Corporation as a reporting issuer in the Provinces of Alberta andBritish Columbia are available on the System for Electronic Document Analysis andRetrieval (SEDAR).
7. The authorized share capital of the Corporation consists of 100,000,000 common shares ofwhich 10,391,952 common shares were issued and outstanding as at February 28, 2001. Anaggregate of 685,000 common shares of the Corporation have been reserved for issuance onthe exercise of stock options granted by the Corporation to its directors, officers, employeesand others.
8. The Corporation is not on the lists of defaulting reporting issuers maintained pursuant to theSecurities Act (Alberta) or the Securities Act (British Columbia).
9. To the knowledge of management of the Corporation, the Corporation has not been subjectto any enforcement actions by the Alberta or British Columbia Securities Commissions orby CDNX, and the Corporation is not in default of any requirement of the Act, the SecuritiesAct (Alberta) or the Securities Act (British Columbia).
10. Neither the Corporation nor any of its officers, directors , nor, to the knowledge of theCorporation, any controlling shareholder has (i) been the subject of any penalties or sanctionsimposed by a court relating to Canadian securities legislation or by a Canadian securitiesregulatory authority, (ii) entered into a settlement agreement with a Canadian securitiesregulatory authority or (iii) been subject to any other penalties or sanctions imposed by acourt or regulatory body that would be likely to be considered important to a reasonableinvestor making an investment decision.
AND UPON the Commission being satisfied that to do so would not be prejudicial to thepublic interest;
IT IS HEREBY ORDERED pursuant to subsection 83.1(1) of the Act that the Corporationbe deemed to be a reporting issuer for purposes of Ontario securities law.
October 19, 2001.
"Derek Brown" "R. Stephen Paddon"