June 30, 2015
Earlier this year, the TSX Venture Exchange (“TSXV”) implemented amendments to Policy 5.1 – Loans, Loan Bonuses, Finder’s Fees and Commissions (“Policy 5.1”). The amendments to Policy 5.1 provide for, among other non-substantive changes of a clarifying nature, certain new requirements and limitations involving loan bonuses and commissions paid by an issuer in connection with financing transactions and finder’s fees paid by an issuer in connection with non-financing transactions. The stated principal purpose of the requirements and limitations set out under Policy 5.1 is to ensure proper notice and disclosure of any transactions and payments, and to mitigate the possibility that the consideration received by an issuer in exchange for loan bonuses, commissions and finder’s fees is not bona fide or otherwise inequitable.
Notable substantive changes were...
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