Securities Law & Instruments

Headnote

Subsection 1(11)(b) -- Order that the issuer is a reporting issuer for the purposes of Ontario securities law -- Issuer already a reporting issuer in Alberta and British Columbia -- Issuer's securities listed for trading on the TSX Venture Exchange -- Continuous disclosure requirements in Alberta and British Columbia substantially the same as those in Ontario -- Issuer has a significant connection to Ontario.

Statutes Cited

Securities Act, R.S.O. 1990, c. S.5, as am. s. 1(11)(b).

IN THE MATTER OF THE SECURITIES ACT, R.S.O. 1990, CHAPTER S.5, AS AMENDED ("the Act") AND IN THE MATTER OF SAVARY GOLD CORP.

ORDER (Section 1(11)(b))

UPON the application of Savary Gold Corp. (the Corporation) to the Ontario Securities Commission (the Commission) for a designation order that the Corporation is a reporting issuer for the purposes of Ontario securities law;

AND UPON considering the application and the recommendation of the staff of the Commission;

AND UPON the Corporation having represented to the Commission as follows:

1. The Corporation was incorporated in Alberta on February 15, 2008 as "Savary Capital Corp". On September 12, 2012 the Corporation changed its name to "Savary Gold Corp." and was continued under the Business Corporations Act (British Columbia). On October 18, 2013 the Corporation was continued under the Business Corporations Act (Ontario).

2. The Corporation's head office is 65 Queen Street West, Suite 815, Toronto, Ontario, M5H 2M5.

3. The Corporation's common shares (the Common Shares) have been listed and posted for trading on the TSX Venture Exchange (TSXV) since May 16, 2008 under the symbol "SCA".

4. The Corporation became a reporting issuer in Alberta and British Columbia on or about April 30, 2008.

5. The Corporation is not currently a reporting issuer or the equivalent in any jurisdiction in Canada other than Alberta and British Columbia.

6. The Corporation is not on the lists of defaulting reporting issuers maintained by the Alberta Securities Commission and the British Columbia Securities Commission. To the knowledge of management of the Corporation, the Corporation has not been the subject of any enforcement actions by the Alberta or British Columbia securities commissions or by the TSXV, and the Corporation is not in default of any requirement of the Act, the Securities Act (Alberta) or theSecurities Act (British Columbia).

7. The continuous disclosure requirements of the Securities Act (Alberta) and the Securities Act (British Columbia) are substantially the same as the continuous disclosure requirements under the Act.

8. The materials filed by the Corporation as a reporting issuer in the Provinces of Alberta and British Columbia are available on the System for Electronic Document Analysis and Retrieval (SEDAR).

9. The authorized share capital of the Corporation consists of an unlimited number of Common Shares, of which a total of 39,727,010 Common Shares are issued and outstanding as of February 5, 2014.

10. Neither the Corporation nor any of its officers, directors or, to the knowledge of the Corporation or its officers and directors, any controlling shareholder, has (i) been the subject of any penalties or sanctions imposed by a court relating to Canadian securities legislation or by a Canadian securities regulatory authority, (ii) entered into a settlement agreement with a Canadian securities regulatory authority, or (iii) been subject to any other penalties or sanctions imposed by a court or regulatory body that would be likely to be considered important to a reasonable investor making an investment decision.

11. Neither the Corporation, nor any of its officers, directors nor, to the knowledge of the Corporation and its officers and directors, any of its controlling shareholders, is or has been subject to: (i) any known ongoing or concluded investigations by: (a) a Canadian securities regulatory authority, or (b) a court or regulatory body, other than a Canadian securities regulatory authority, that would be likely to be considered important to a reasonable investor making an investment decision; or (ii) any bankruptcy or insolvency proceedings, or other proceedings, arrangements or compromises with creditors, or the appointment of a receiver, receiver-manager or trustee, within the preceding 10 years.

12. None of the officers or directors of the Corporation nor, to the knowledge of the Corporation and its officers and directors, any of its controlling shareholders, is or has been at the time of such event an officer or director of any other issuer which is or has been subject to: (i) any cease trade or similar order, or order that denied access to any exemptions under Ontario securities law, for a period of more than 30 consecutive days, within the preceding 10 years; or (ii) any bankruptcy or insolvency proceedings, or other proceedings, arrangements or compromises with creditors, or the appointment of a receiver, receiver-manager or trustee, within the preceding 10 years.

AND UPON the Commission being satisfied that to do so would not be prejudicial to the public interest;

IT IS HEREBY ORDERED pursuant to subsection 1(11)(b) of the Act that the Corporation be deemed to be a reporting issuer for the purposes of Ontario securities law.

DATED at Toronto on this 25th day of March, 2014.

"Shannon O'Hearn"
Manager, Corporate Finance
Ontario Securities Commission