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TSXV Extends Temporary Relief Measures

Posted by: · April 12th, 2013

The TSXV issued a bulletin dated April 12, 2013 extending the temporary relief measures (the “TRM”) originally introduced in August 2012. The TRM relieve issuers of certain pricing requirements and permit companies: whose share price is below $0.05 to price share or unit offerings at market, to price debenture conversions at below $0.10, and to issue offerings with warrant exercise prices below $0.10. For the period of August 17, 2012 to…

BCSC Proposes Revoking 32-513 – Registration Exemption in Respect of Prospectus-Exempt Securities

Posted by: · January 3rd, 2013

On January 3, 2013, the British Columbia (the “BCSC”) issued a Notice and Request for Comment proposing to revoke BC Instrument 32-513 Registration Exemption for Trades in Connection with Certain Prospectus-Exempt Distributions (the “Northwest Exemption”) and provided for a comment period ending on February 4, 2013. The comment period was subsequently extended to February 24, 2013. If the Northwest Exemption is revoked, an issuer in British Columbia will not be…

OSC Releases Staff Consultation Paper 45-710 on Capital-Raising Prospectus Exemptions and Crowdfunding

Posted by: · December 14th, 2012

On December 14, 2012 the Ontario Securities Commission (“OSC”) published Consultation Paper 45-710 Considerations for New Capital Raising Prospectus Exemptions. The consultation paper looks at options for inclusion of crowdfunding in the prospectus-exempt market review and seeking feedback until February 12, 2013. This consultation paper provides an expanded review from the first consultation notice released by the OSC in June 7, 2012 Broadening Scope of Review of Prospectus Exemptions. This…

TSX Provides Guidance on Disclosure Requirements Where Security Holder Approval Required

Posted by: · September 28th, 2012

The Toronto Stock Exchange (the “TSX”) published Staff Notice 2012-0003 (the “Notice”) dated September 28, 2012 which provides guidance with respect to disclosure and other related requirements where a transaction is subject to security holder approval pursuant to the TSX Company Manual (the “Manual”). The Notice provides that listed issuers must disclose the material terms of the transaction either in the circular that will be mailed to security holders or in the form…

TSXV Issues Temporary Relief Measures

Posted by: · August 17th, 2012

In response to current difficult market conditions, the TSX Venture Exchange (the “TSX-V”) issued a temporary relief measures bulletin on August 17, 2012 (the “TRM Bulletin”), providing temporary relief from certain pricing requirements set out in TSX-V Policies.  In particular, in certain circumstances, the TSX-V is suspending until December 31, 2012: – the $0.05 minimum price for share or unit private placement offerings; – the $0.10 minimum conversion price for convertible…


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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