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CSA PROPOSES AMENDMENTS TO PROSPECTUS EXEMPTION FOR RIGHTS OFFERINGS

Posted by: · March 10th, 2015

The Canadian Securities Administrators (the “CSA”) recently published for comment proposed amendments to securities legislation (the “Proposed Amendments”) which, if adopted, would create a streamlined prospectus exemption for rights offerings conducted by reporting issuers. A rights offering is the distribution of rights to purchase securities of an issuer made to that issuer’s existing security holders. Currently, an issuer can conduct a rights offering under a prospectus or under the prospectus…

New Disclosure Rules for Non-Venture Issuers Regarding Women on Boards and in Senior Management

Posted by: · November 5th, 2014

The securities regulatory authorities in the majority of the provinces and territories of Canada recently announced the final implementation of new corporate governance disclosure rules regarding the representation of women on boards of directors and in senior management. Provided all necessary Ministerial approvals are obtained, amendments to National Instrument 58-101 Disclosure of Corporate Governance Practices and Form 58-101F1 Corporate Governance Disclosure (collectively, the “Rule Amendments”) will come into effect on…

The CSA Proposes Amendments to the Current Take-Over Bid Regime

Posted by: and · September 24th, 2014

On September 11, 2014, the Canadian Securities Administrators (the “CSA”) published CSA Notice 62-306, announcing proposed amendments (the “Proposed Bid Amendments”) to the current rules governing take-over bids contained in Multilateral Instrument 62-104 ­ Take-over Bids and Issuer Bids (“MI 62-104”). The CSA have indicated that the Proposed Bid Amendments will aim to facilitate the ability of shareholders to make voluntary, informed and co-ordinated tender decisions and provide target boards…

Categories: M & A, Securities Laws

CSA Proposes Changes to Streamline Disclosures by Venture Issuers

Posted by: · May 27th, 2014

On May 22, 2014 the Canadian Securities Administrators (the “CSA”) published a notice and request for comment on certain proposed amendments to National Instrument 51-102 Continuous Disclosure Obligations (NI 51-102), National Instrument 41-101 General Prospectus Requirements (NI 41-101), and National Instrument 52-110 Audit Committees (NI 52-110); as well as to the companion policies to the instruments (the “Proposed Amendments”). The Proposed Amendments focus on streamlining disclosure by venture issuers, reflecting the needs and expectations…

CSA Adopts Prospectus Exemption for Distributions to Existing Securityholders

Posted by: and · May 15th, 2014

On March 13, 2014, the Canadian Securities Administrators (the “CSA”) issued a notice adopting a prospectus exemption (the “Exemption”) which allows issuers listed on the TSX Venture Exchange (the “TSXV”), the Toronto Stock Exchange (the “TSX”) or the Canadian Securities Exchange (the “CSE”) to raise money by distributing securities to their existing securityholders. The Exemption has been implemented in all provinces and territories in Canada except for Ontario, Newfoundland and…

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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.