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TSXV Issues Bulletin on Discretionary Waivers of $0.05 Minimum Pricing Requirements

Posted by: Axium Law · April 8th, 2014

The policies of the TSX Venture Exchange (“TSXV”) include a requirement that the offering price for a financing involving the issuance of listed shares be not less than the Discounted Market Price (as defined in the TSXV Policies) and is further subject to a minimum price per share of $0.05. Recognizing the difficulty this minimum pricing creates for certain issuers to conduct financings, the TSXV maintains the discretion to waive the $0.05 minimum pricing requirement on a case by case basis.

The TSXV issued a bulletin on April 7, 2014 to provide guidance to issuers on the circumstances upon which the TSXV will look more favourably upon an issuer’s request to waive the $0.05 minimum pricing requirement. To read more, visit the TSXV website and bulletin: http://www.tmx.com/en/pdf/venture_bulletins/Apr7-DiscretionaryWaivers.pdf

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This blog discusses issues relevant to mining exploration and development companies carrying on business in Canada and around the world. Topics include acquiring and developing mineral projects, organizing and financing resource companies and mergers and acquisitions.

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Axium is a leading Vancouver based boutique law firm specializing in securities law, mergers and acquisitions, corporate and business law.