Business
OSC Cease Trade Order
OSC Cease Trade Order.
About this update from Hyperblock Inc
[{"type":"text","content":"IN THE MATTER OFHYPERBLOCK INC. (the Issuer)ANDIN THE MATTER OFSEAN WALSHCEASE TRADE ORDERUnder the securities legislation of Ontario (Legislation)Background1. This is the order of the Ontario Securities Commission (the Decision Maker).2. The Issuer has not filed the following periodic disclosure required by the Legislation:audited annual financial statements for the year ended December 31, 2018;management's discussion and analysis relating to the audited annual financial statements for the year ended December 31, 2018;certification of the foregoing filings as required by National Instrument 52 109 Certification of Disclosure in Issuers' Annual and Interim Filings.3. On May 2, 2019 the Director made an order (the MCTO) under paragraph 2 and paragraph 2.1 of subsection 127(1) of the Act that, effective immediately, all trading in and all acquisitions of the securities of the Issuer, whether direct or indirect, by Sean Walsh shall cease until two full business days following the receipt by the Commission of all filings the Issuer is required to make under Ontario securities law, or further order of the Director.4. As a result of this order, if the Issuer is a reporting issuer in a jurisdiction in which Multilateral Instrument 11-103 Failure-to-File Cease Trade Orders in Multiple Jurisdictions applies, a person or company must not trade in or purchase a security of the Issuer in that jurisdiction, except in accordance with the conditions that are contained in this order, if any, for so long as this order remains in effect.5. Further, this order takes automatic effect in each jurisdiction of Canada that has a statutory reciprocal order provision, subject to the terms of the local securities legislation.InterpretationTerms defined in the Legislation, National Instrument 14-101 Definitions or National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions have the same meaning if used in this order, unless otherwise defined.Order6. It is ordered pursuant to section 144 of the Ontario Securities Act that the MCTO is revoked.7. The Decision Maker is satisfied that the decision concerning the cease trade meets the test set out in the Legislation to make this decision.8. It is ordered under the Legislation that trading and acquiring, whether direct or indirect, cease in respect of each security of the I...