What is the test for determining a reasonable possibility of success under Part XXIII.1 of the Rules of Civil Procedure?

In Arctic Glacier, Tausendfreund J. considered the legislative history of Part XXIII.1, which led him to conclude that it was intended to provide a remedy that was impractical at common law, while at the same time protecting issuers from coercive, costly and abusive litigation. He referred to dictionary definitions of the words “reasonable” and “possibility” as well as the observations of van Rensburg J. in Silver v. Imax (Leave) at paras. 324, 326 and 330. He concluded, at para. 130: In my view, in assessing the existence of a reasonable possibility of success at trial, I must consider the relevant evidence, within the context of this motion. The applicable standard is more than a mere possibility of success, but is a lower threshold than a probability.