Decision in brief: SLC Holdings Inc v Stracon Group Holding Inc, Application relating to a Transaction, Standing Motion, March 23, 2026

In this case, one company, SLC Holdings Inc., says that another company, Stracon Group Holding Inc., wrongly told investors that it had amalgamated (merged) with a third company in Peru. SLC says that the amalgamation was not completed and that it is owed money by the Peruvian company. SLC asks the Tribunal to stop any trading of Stracon’s shares until the statement is corrected or the amalgamation is completed.

Before the Tribunal can decide whether Stracon’s statement to investors was wrong, it must first decide whether SLC should have standing (permission) to go ahead with its request to stop trading in Stracon’s shares. This decision addresses that issue.

The Tribunal decided to not give SLC standing because:

• SLC did not discuss its concerns with the OSC before starting this application;
• the securities law issues raised by SLC are not new or unique as the Tribunal has dealt with many cases involving misrepresentations to investors;
• whether the amalgamation in Peru was actually completed should be decided by a Peruvian court; and
• SLC’s main complaint is that it says it’s owed money that has to be paid before the amalgamation is complete, but that payment dispute is only weakly connected to what Stracon told Ontario investors.

The Tribunal dismissed SLC’s application.