Relief permitting issuers to list shares on the TSX Venture Exchange (TSXV) at a minimum of $0.01 has been extended to December 31, 2020.
In a bulletin published on September 16, 2020, the TSXV has extended previously issued temporary relief to apply to listed shares that are issued on or before December 31, 2020. As previously discussed, in response to the COVID-19 pandemic, on April 8, 2020, the TSXV temporarily reduced the minimum price at which listed shares could be issued from $0.05 to $0.01 in private placements, public offerings, shares for debt transactions and as bonuses for loans or guarantees. Under the relief, if the Market Price (as defined in the TSXV Corporate Finance Manual) of an issuer's listed shares is not greater than $0.05, the minimum price at which the issuer may issue shares is the Market Price of the issuer's shares, subject to a minimum price of $0.01. The initial relief was set to expire on September 30, 2020.
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