Public Companies

  • stock certificates

    Recent amendments to National Instrument 45-106 – Prospectus Exemptions (“NI 45-106“) have made conducting a rights offering much quicker and more cost-effective. The new rights offering exemption in Section 2.1 of NI 45-106 now allow you to avoid a review by the regulators on your rights offering circular. In the past the average rights offering would take about 85 days; of which the regulatory review …

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  • 45-106F1

    Overview: The new Form 45-106F1 requires a lot more information and now requires standardized electronic filing on SEDAR for reporting issuers and non-reporting issuers (i.e. private companies). For those submitting the new Form 46-106F1 in Ontario and BC, you must still use the BCSC and OSC websites. For all other provinces you must use SEDAR – this means setting up an issuer profile, have a …

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  • Paying Fees, OSC Fees, Participation Fees

    OSC Participation Fees Were Not Reflective of Current Market Cap On April 1, 2013 a revision to OSC Rule 13-502 came into effect which changed how OSC participation fees for reporting issuers were calculated. These changes included a concept called a “reference fiscal year” which was, in certain cases, deemed to be the participant’s last fiscal year ending before May 1, 2012. This was an impactful change …

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  • Private Placements

    Capital Is Expensive Every company knows that raising money is expensive – even when utilizing private placements. If your a listed issuer you need to pay exchange fees (listing fees, maintenance fees and transaction based fees), audit fees, securities commission fees, agent commission & fees, transfer agent fees and legal fees – among many others. Raising money shouldn’t cost a fortune but it does. If you …

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