October 21, 2009
In the Matter of
the Securities Legislation of
Alberta and Manitoba
(the Jurisdictions)
and
In the Matter of
the Process for Exemptive Relief Applications in Multiple Jurisdictions
and
In the Matter of
Tenajon Resources Ltd.
(the Filer)
Decision
Background
The securities regulatory authority or regulator in each of the Jurisdictions (Decision Maker) has
received an application from the Filer for a decision under the securities legislation of the
Jurisdictions (the Legislation) that the Filer be deemed to have ceased to be a reporting issuer
under the Legislation in each of the Jurisdictions (the Exemptive Relief Sought).
Under the Process for Exemptive Relief Applications in Multiple Jurisdictions (for a coordinated review application):
(a) the Alberta Securities Commission is the principal regulator for this application, and
(b) the decision is the decision of the principal regulator and evidences the decision of each other Decision Maker.
Interpretation
Terms defined in National Instrument 14-101 Definitions have the same meaning if used in this
decision, unless otherwise defined.
Representations
This decision is based on the following facts represented by the Filer:
1. The Filer is a corporation formed as a result of an amalgamation between Tenajon Resources Corp. (Tenajon) and 0855100 B.C. Ltd. under the laws of the Province of British Columbia. The Filer's head office is located in Vancouver, British Columbia.
2. Creston Moly Corp. (Creston) is a corporation existing under the laws of British Columbia with its head office located in Vancouver, British Columbia.
3. The authorized share capital of the Filer consists of an unlimited number of Common shares (Filer Shares).
4. On August 26, 2009, Creston acquired all of the issued and outstanding Filer Shares pursuant to a plan of arrangement under the Business Corporations Act (British Columbia) (the Arrangement).
5. Tenajon was a reporting issuer in Alberta and British Columbia immediately prior to the completion of the Arrangement.
6. Creston was, immediately prior to the completion of the Arrangement, and is a reporting issuer in Alberta, British Columbia and Manitoba.
7. As the successor company to Tenajon, the Filer became a reporting issuer in Alberta and British Columbia upon completion of the Arrangement.
8. By virtue of having exchanged its securities with another issuer or with the holders of the securities of another issuer in connection with an amalgamation, merger, reorganization or arrangement where one of the parties (namely, Creston) was a reporting issuer in Manitoba at the time of such transaction, the Filer became a reporting issuer in Manitoba upon completion of the Arrangement.
9. The outstanding securities of the Filer, including debt securities, are beneficially owned, directly or indirectly, by less than 15 security holders in each of the jurisdictions in Canada and less than 51 security holders in total in Canada.
10. The common shares of Tenajon were delisted from the TSX Venture Exchange effective at the close of business on August 31, 2009 and no securities of the Filer are traded on a marketplace as defined in National Instrument 21-101 Marketplace Operation.
11. The Filer ceased to be a reporting issuer in British Columbia effective on September 11, 2009.
12. The Filer is applying for relief to cease to be a reporting issuer in Alberta and Manitoba.
13. The Filer is not in default of any of its obligations under the Legislation as a reporting issuer other than the requirements to file: (i) interim financial statements and related management�s discussion and analysis for the three-month period ended June 30, 2009; and (ii) interim certificates under Multilateral Instrument 52-109 Certification of Disclosure in Issuers� Annual and Interim Filings in respect of its interim filings for the three-month period ended June 30, 2009 (collectively, the Interim Filings) for Tenajon, a predecessor company of the Filer.
14. As Creston became the sole beneficial owner of all of the Filer�s outstanding securities before the date on which the Interim Filings were due, the Filer has not prepared the Interim Filings. Creston did not expect or desire that the Interim Filings be prepared or filed.
15. The Filer currently has no intention to seek public financing by way of an offering of its securities. Decision Each of the Decision Makers is satisfied that the decision meets the test set out in the Legislation for the Decision Maker to make the decision. The decision of the Decision Makers under the Legislation is that the Exemptive Relief Sought is granted.
"original signed by"
Blaine Young
Associate Director, Corporate Finance