Regulatory Alerts2021-08-12
Draft Amendments to Policy Statement to Regulation 51-102 respecting Continuous Disclosure Obligations
The securities regulators amended Policy Statement to Regulation 51-102 to clarify the determination of what constitutes a business for mining asset acquisitions. The new provision exempts such acquisitions from the requirement to file a business acquisition report if the transaction is at arm's length, involves no other assets or liabilities, and lacks recent exploration or production activity. This change provides specific criteria for issuers to follow when assessing whether a mining asset purchase triggers continuous disclosure obligations under securities legislation.
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