Mutual Reliance Review System for ExemptiveRelief Applications -- relief from requirement in NI 43-101to be a member of a professional organization in order to beconsidered a "qualified person", for an individualwith unique qualifications and work experience.
Applicable Ontario Provisions
National Instrument 43-101 Standards of Disclosurefor Mineral Projects.
IN THE MATTER OF
THE SECURITIES LEGISLATIONOF
BRITISH COLUMBIA, ALBERTA,ONTARIO,
THE NORTHWEST TERRITORIESAND THE YUKON TERRITORY
IN THE MATTER OF
THE MUTUAL RELIANCE SYSTEMFOR
EXEMPTION RELIEF APPLICATIONS
IN THE MATTER OF
TRUE NORTH GEMS INC.
MRRS DECISION DOCUMENT
WHEREAS the local securities regulatoryauthority or regulator (the "Decision Maker") in Alberta,British Columbia, Ontario, the Northwest Territories and theYukon Territory (the "Jurisdictions") has receivedan application from True North Gems Inc. (the "Corporation")for a decision under the securities legislation of the Jurisdictions(the "Legislation") that the Corporation is exemptfrom the requirement contained in National Instrument 43-101Standards of Disclosure for Mineral Projects ("NI43-101") that William R. Rohtert, Economic Geologist andGraduate Gemologist ("Rohtert") be a member in goodstanding of a professional association in order to be considereda "qualified person" under NI 43-101 (the "MembershipQualification Requirement");
AND WHEREAS under the Mutual RelianceReview System for Exemptive Relief Applications (the "System"),the British Columbia Securities Commission is the principalregulator for this application;
AND WHEREAS unless otherwise defined,the terms herein have the meaning set out in National Instrument14-101 Definitions;
AND WHEREAS the Corporation has representedto the Decision Makers that:
1. it is incorporated under the laws of theYukon Territory, carries on a mineral exploration businessin the Yukon Territory and has its head office located inVancouver, British Columbia;
2. it is a reporting issuer in each of theJurisdictions that provides for such status and is not indefault of any requirement of the Legislation;
3. its securities are listed and posted fortrading on the TSX Venture Exchange;
4. it owns certain gemstone exploration claimsin the Yukon Territory;
5. it wishes to use Rohtert as its qualifiedperson under NI 43-101;
6. Rohtert is a member of the InternationalColored Gemstone Association, which would meet the requirementsof a professional organization as defined in NI 43-101, exceptthat it:
(a) has not been given authority or recognitionby statute, and
(b) is not currently required to admit membersprimarily on the basis of their academic qualificationsand experience;
7. Rohtert would be a qualified person, butfor the fact that he is not a member of a professional associationas defined in NI 43-101; and
8. Rohtert is uniquely capable of acting asthe Corporation's qualified person, with respect to colouredgemstone bearing or prospective coloured gemstone bearingproperties, as a result of the combination of his academicqualifications and professional work experience, which include:
(a) masters degree in geology;
(b) graduating from the gemological programat the Gemological Institute of America; and
(c) exploration and project assessment experiencewith coloured gemstones since 1991.
AND WHEREAS under the System, this MRRSDecision Document evidences the decision of each Decision Maker(collectively, the "Decision");
AND WHEREAS each of the Decision Makersis satisfied that the test contained in the Legislation thatprovides the Decision Makers with the jurisdiction to make theDecision has been met;
THE DECISION of the Decision Makers underthe Legislation is that the Corporation is exempt from the MembershipQualification Requirement in connection with the technical reportsor other information prepared by Rohtert under NI 43-101 providedthat:
1. Rohtert otherwise meets the definitionof "qualified person" in NI 43-101; and
2. Rohtert only provides services to the Corporationrelating to coloured gemstone bearing or prospective colouredgemstone bearing properties.
October 7, 2003.