DC DiagnostiCare Inc. - MRRS Decision
Headnote
Mutual Reliance Review System for ExemptiveRelief Applications - issuer has twenty beneficial securityholders - issuer deemed to have ceased being a reporting issuer.
Applicable Ontario Statutory Provisions
Securities Act, R.S.O. 1990, c.S.5, as am. s.83.
IN THE MATTER OF
THE SECURITIES LEGISLATION OF
ONTARIO AND ALBERTA
AND
IN THE MATTER OF
THE MUTUAL RELIANCE SYSTEM
FOR EXEMPTIVE RELIEF APPLICATIONS
AND
IN THE MATTER OF
DC DIAGNOSTICARE INC.
MRRS DECISION DOCUMENT
WHEREAS the local securities regulatoryauthority or regulator (the "Decision Maker") in eachof Ontario and Alberta (the "Jurisdictions") has receivedan application from DC DiagnostiCare Inc. (the "Filer")for an order pursuant to the securities legislation of eachof the Jurisdictions (the "Legislation") that theFiler be deemed to have ceased to be a reporting issuer underthe Legislation.
AND WHEREAS pursuant to the Mutual RelianceReview System for Exemptive Relief Applications (the "System"),the Ontario Securities Commission is the principal regulatorfor this application;
AND WHEREAS the Filer has representedto the Decision Makers that:
1. The Filer is a corporation formed under thelaws of the Province of British Columbia on July 12, 1996 pursuantto the amalgamation of DC DiagnostiCare Inc. and Camelot IndustriesInc.
2. The Filer's principal office is located atSuite 100 - 12220 Stony Plain Road, Edmonton, Alberta, T5N 3Y4and its registered office is located at Suite 1600 - 609 GranvilleStreet, Vancouver, British Columbia, V7Y 1C3.
3. The Filer is a reporting issuer in each ofthe Jurisdictions and is not in default of any requirement underthe Legislation.
4. The Filer does not intend to seek publicfinancing by way of an offering of its securities.
5. The Filer's issued and outstanding securitiesconsist of 26,680,425 common shares (the "Common Shares"),options (the "Options) granted to employees of the Filerto purchase 741,089 Common Shares and warrants (the "Warrants")to purchase Common Shares.
6. As a result of a take-over bid and the subsequentcompulsory acquisition procedures under section 255 of the CompanyAct (British Columbia), all of the issued and outstanding CommonShares and Warrants of the Filer are beneficially owned by CanadianMedical Laboratories Limited ("CML"), a reportingissuer in all of the provinces of Canada with its head officeand principal place of business in Mississauga, Ontario.
7. The Filer currently has 19 beneficial holdersof Options, of which 13 are resident in Ontario and two areresident in Alberta.
8. Effective March 13, 2002, the Common Shareswere de-listed for trading from The Toronto Stock Exchange andno securities, including debt securities, of the Filer are listedor quoted on any exchange or market.
9. Other than the Common Shares, the Optionsand Warrants the Filer has no securities, including debt securities,outstanding.
AND WHEREAS pursuant to the System,this MRRS Decision Document evidences the decision of each DecisionMaker (the "Decision");
AND WHEREAS each of the Decision Makersis satisfied that the test contained in the legislation thatprovides the Decision Maker with the jurisdiction to make theDecision has been met;
THE DECISION of the Decision Makersunder the Legislation is that the Filer shall be deemed to haveceased to be a reporting issuer under the Legislation.
April 29, 2002.
"Howard I. Weston" "Theresa McLeod"