The TSX Venture Exchange (the TSXV) has extended previously issued temporary relief to apply to listed shares that are issued on or before December 31, 2020. In response to the COVID-19 pandemic, on April 8, 2020, the TSXV had 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 the 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.
DISCLAIMER: This post is intended to convey general information about legal issues and developments as of the date above. It does not constitute legal advice and must not be treated or relied on as such.