As has been reported in the media,
a Canadian postal strike could occur as early as tomorrow evening.
As an interruption of mail service would impact the ability of
issuers and registrants to deliver required documents under
securities laws, the Ontario Securities Commission today released guidance for issuers in the
event that a postal strike occurs.
Specifically, the OSC stated that, while it will not take action
against reporting issuers solely for failing to deliver financial
reports to securityholders, issuers must make reasonable efforst to
make such reports available to securityholders on request. Further,
on the resumption of normal mail service, such reports will have to
be mailed. With respect to offering documents, proxy solicitation
materials and bid circulars, issuers and affected persons and
companies are advised to consult with their service providers as to
alternate delivery options, and their legal advisers in order to
determine how to best comply
