LEGAL UPDATES, OPINIONS & ANALYSIS FOR THE
MINING EXPLORATION & DEVELOPMENT INDUSTRY
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CSE – an alternative to listing on the TSXV

Posted by: · March 5th, 2014

Emerging companies seeking to lower the cost of raising capital and maintaining a listing may want to consider alternatives to listing on the TSX Venture Exchange (the “TSXV”). The Canadian Securities Exchange (the “CSE”) is an attractive option as it is a fast, straightforward process to get listed and its streamlined regulatory model can translate into lower overall costs. A wide range of companies are listed on the CSE; from…

Categories: Corporate Finance

TSX publishes amendments to TSX Company Manual in relation to director election requirements

Posted by: · February 13th, 2014

The Toronto Stock Exchange (“TSX”) has published amendments to the TSX Company Manual in relation to director elections (the “Amendments”). Visit the TSX website to view the Notice of Approval of the Amendments. The Amendments require each director of a TSX listed issuer, other than a listed issuer that is majority controlled (as defined in the Amendments), to be elected by a majority of the votes cast with respect to…

M&A Alert – Potential US Tax Issues on Employee Severance and Bonus Payments

Posted by: · February 10th, 2014

Employees of U.S. subsidiaries of Canadian public companies or Canadian-based employees who are U.S. citizens and who are entitled to severance and/or bonus payments upon the termination of employment under the terms of their employment agreements may be required to pay significant additional tax to the IRS over and above the normal tax payable on such payments if such payments are contrary to certain provisions of the U.S. Internal Revenue…

Categories: M & A

Comment Period Ending for Proposed Prospectus Exemption for Distributions to Existing Security Holders

Posted by: · January 14th, 2014

On November 21, 2013 the Canadian Securities Administrators (“CSA”) comprised of securities regulatory authorities in all Canadian jurisdictions, except for Ontario and Newfoundland and Labrador, published for comment Multilateral CSA Notice 45-312 – Proposed Prospectus Exemption for Distributions to Existing Security Holders. The substantially harmonized proposed prospectus exemption (“Proposed Exemption”) would, subject to certain conditions, allow issuers listed on the TSX Venture Exchange (“TSXV”) to raise money by distributing securities to their existing securityholders. Under the…

TSX publishes proposed amendments to Stock Exchange Company Manual

Posted by: · December 20th, 2013

On November 28, 2013, the Toronto Stock Exchange (the “TSX”) published proposed amendments (the “Amendments”) to the TSX Company Manual (the “Manual”) relating to the adoption of security-based compensation arrangements in the context of acquisitions and the criteria considered by the TSX in determining whether a transaction is a backdoor listing. The Amendments are open to comments up to January 13, 2014. The Amendments will become effective following the comment period 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.

About Axium

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