Macro Enterprises Inc.

Headnote

National Policy 11-206 Process for Cease to be a Reporting Issuer Applications -- Application for an order that the issuer is not a reporting issuer under applicable securities laws -- The issuer is not an OTC reporting issuer; the securities of the issuer are beneficially owned by fewer than 15 securityholders in each of the jurisdictions of Canada and fewer than 51 securityholders worldwide; no securities of the issuer are traded on a market in Canada or another country; the issuer is not in default of securities legislation except it has not filed certain continuous disclosure documents -- Requested relief granted.

Applicable Legislative Provisions

Securities Act, R.S.O. 1990, c. S.5, as am., s. 1(10)(a)(ii).

June 3, 2022

IN THE MATTER OF THE SECURITIES LEGISLATION OF BRITISH COLUMBIA AND ONTARIO (the Jurisdictions) AND IN THE MATTER OF THE PROCESS FOR CEASE TO BE A REPORTING ISSUER APPLICATIONS AND IN THE MATTER OF MACRO ENTERPRISES INC. (the Filer)

ORDER

Background

¶ 1 The securities regulatory authority or regulator in each of the Jurisdictions (Decision Maker) has received an application from the Filer for an order under the securities legislation of the Jurisdictions (the Legislation) that the Filer has ceased to be a reporting issuer in all jurisdictions of Canada in which it is a reporting issuer (the Order Sought).

Under the Process for Cease to be a Reporting Issuer Applications (for a dual application):

(a) the British Columbia Securities Commission is the principal regulator for this application;

(b) the Filer has provided notice that subsection 4C.5(1) of Multilateral Instrument 11-102 Passport System (MI 11-102) is intended to be relied upon in Alberta and Manitoba; and

(c) this order is the order of the principal regulator and evidences the decision of the securities regulatory authority or regulator in Ontario.

Interpretation

¶ 2 Terms defined in National Instrument 14-101 Definitions and MI 11-102 have the same meaning if used in this order, unless otherwise defined.

Representations

¶ 3 This order is based on the following facts represented by the Filer:

1. Macro Enterprises Inc., a predecessor company to the Filer (Old Macro), was a reporting issuer in British Columbia, Alberta, Manitoba and Ontario (the Reporting Jurisdictions);

2. Old Macro's registered and records office was 1800 -- 510 West Georgia Street, Vancouver, British Columbia, V6B 0M3;

3. the Filer's registered and records office is 2900 -- 550 Burrard Street, Vancouver, British Columbia, V6C 0A3;

4. Old Macro's share capital consisted of common shares and Class A Convertible Preference Shares (collectively, the Shares);

5. Old Macro entered into an arrangement agreement dated February 14, 2022 with 1325996 B.C. Ltd. (AcquireCo), Frank Miles and Jeff Redmond, as amended on April 1, 2022, pursuant to which AcquireCo acquired all of the outstanding Shares of Old Macro by way of a plan of arrangement under the BCBCA (the Arrangement), which was completed on April 20, 2022;

6. immediately following completion of the Arrangement, AcquireCo became the holder of all of the issued and outstanding Shares and amalgamated with Old Macro to become the Filer and, accordingly, the Filer became a reporting issuer in the Reporting Jurisdictions;

7. the common shares of the Filer were delisted from the TSX Venture Exchange effective as of the close of trading on April 22, 2022;

8. the Filer is not an OTC reporting issuer under Multilateral Instrument 51-105 -- Issuers Quoted in the U.S. Over-the-Counter Markets;

9. the outstanding securities of the Filer, including debt securities, are beneficially owned, directly or indirectly, by fewer than 15 securityholders in each of the jurisdictions of Canada and fewer than 51 securityholders in total worldwide;

10. no securities of the Filer, including debt securities, are traded in Canada or another country on a marketplace as defined in National Instrument 21-101 Marketplace Operation or any other facility for bringing together buyers and sellers of securities where trading data is publicly reported;

11. the Filer is applying for an order that the Filer has ceased to be a reporting issuer in all of the jurisdictions of Canada in which it is a reporting issuer;

12. the Filer has no intention to seek public financing by way of an offering of securities;

13. the Filer is not in default of securities legislation in any jurisdiction other than the obligation to file on or before May 1, 2022 its annual financial statements and related management's discussion and analysis for the year ended December 31, 2021, and on or before May 30, 2022 its interim financial statements and related management's discussion and analysis for the interim period ended March 31, 2022, as required under National Instrument 51-102 -- Continuous Disclosure Obligations and the related certification of such annual and interim filings as required under National Instrument 52-109 -- Certification of Disclosure in Issuers' Annual and Interim Filings (collectively, the Filings);

14. the requirements to file the Filings did not arise until after the completion of the Arrangement;

15. the Filer is not eligible to use the simplified procedure under National Policy 11-206 Process for Cease to be a Reporting Issuer Applications (NP 11-206) as it is in default for failure to file the Filings; and

16. but for the fact that the Filer is in default for failure to file the Filings, the Filer would be eligible for the "simplified procedure" under NP 11-206.

Order

¶ 4 Each of the Decision Makers is satisfied that the order meets the test set out in the Legislation for the Decision Makers to make the order.

The decision of the Decision Makers under the Legislation is that the Order Sought is granted.