Following a hearing on Friday, June 16, an Alberta Securities Commission (ASC) panel has dismissed the application by PointNorth Capital Inc., PointNorth Capital (GP) LP, PointNorth Capital (O) LP and PointNorth Capital (PNG) LP with respect to the solicitation of proxies for a scheduled meeting of shareholders of Liquor Stores N.A. Ltd.
The ASC panel found that there was insufficient grounds to grant the orders sought by the PointNorth entities.
The ASC panel will issue its formal written decision with reasons at a later date.
The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.
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