Here are the new listing requirements for exploration companies to get on the TSE.
1. Financial requirements:
•increase net tangible asset requirement from $2.0 million to $3.0 million under 314(b) •introduce a net tangible asset requirement of $4.0 million for 314(a) •introduce a minimum working capital requirement of $2.0 million for mineral exploration and development companies.
2. Technical Requirements:
•increase minimum required work program size from $500,000 to $750,000 under 314(b) •improve articulation of definitions and technical requirements as proposed
3. Commitment to the proposed exploration or development work program:
•Require the submission of a management-prepared 18 month projection of sources and uses of funds, which is to be reviewed by the sponsor along with other Company submissions.
4. Sponsorship:
•better articulate sponsorship requirements for mining companies •require the sponsor to review the applicant's 18 month projection of sources and uses of funds, press releases and financial disclosures, property agreements and land tenure issues, the adequacy of management's technical expertise, and to provide comments •disclose identity of sponsoring members.
5. Distribution Requirements
•Increase the market value of publicly held shares from $2,000,000 to $4,000,000.
Steve Kee
Senior Media Specialist
Marketing and Communications
The Toronto Stock Exchange - tse.com
416.947.4682 -- office #
416.574.7500 -- cellular #
416.375.8856 -- page # |
