BCSC Partial Revocation of Cease Trade Order
Citation: 2021 BCSECCOM 88
Partial Revocation Order
Sycamore Entertainment Group, Inc.
Section 171 of the Securities Act, R.S.B.C. 1996, c. 418
¶ 1 On June 14, 2014, the Executive Director made an order (the Cease Trade Order) under section 164(1) of the Securities Act, R.S.B.C. 1996, c. 418 (the Act) that all trading in the securities of Sycamore Entertainment Group, Inc. (Sycamore Entertainment) cease until it complies with the requirements set out in the Cease Trade Order and the Executive Director revokes the Cease Trade Order.
¶ 2 Sycamore Entertainment is an OTC reporting issuer under Multilateral Instrument 51-105 Issuers Quoted in the U.S. Over-the Counter Markets.
¶ 3 Raymond Scott Kirkwood (Kirkwood) applied to the Executive Director under section 171 of the Act for a partial revocation of the Cease Trade Order to allow him to sell 600,000 shares of Sycamore Entertainment (the Shares).
¶ 4 Kirkwood has represented to the Executive Director that he:
1. is a British Columbia resident,
2. purchased the Shares for his own benefit in market transactions, and
3. has never been an insider or control person of Sycamore Entertainment or its predecessors.
¶ 5 The Executive Director is satisfied that this order is not prejudicial to the public interest.
¶ 6 Under section 171 of the Act, the Executive Director partially revokes the Cease Trade Order to allow Kirkwood to sell the Shares, provided that:
1. the trade is made through a market outside Canada,
2. the trade is made through an investment dealer registered in British Columbia, and
3. Kirkwood does not participate in any unusual effort to prepare the market or create demand for the Shares.
¶ 7 March 4, 2021
Andrew S. Richardson, CPA, CA
Chief of Compliance
Corporate Finance