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…
On October 29, 2015 the Ontario Securities Commission (“OSC”) along with other Canadian Securities Administrator (“CSA”) jurisdictions published certain amendments to National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”) allowing Ontario investors to purchase securities by way of offering memorandums. This is a fantastic development for issuers because they can now offer their securities on an exempt basis to a much broader…
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…
