Regulatory Alerts2022-09-08
CSA Notice of Publication: Amendments to Introduce the Listed Issuer Financing Exemption
The Canadian Securities Administrators are amending Regulation 45-106 to introduce the Listed Issuer Financing Exemption, allowing reporting issuers listed on Canadian stock exchanges to raise up to $10 million through the distribution of freely tradeable equity securities. This new exemption relies on the issuer's continuous disclosure record and imposes statutory liability for misrepresentations in the offering document, which is not pre-reviewed by regulators. The amendments also update SEDAR and resale regulations and require specific risk disclosures and purchaser reporting to enhance investor protection.
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