HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"
NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)
Message: CSE Listing Requirements
https://venturelawcorp.com/canadian-securities-exchange-listing-requirements/
Listing Requirements of the Canadian Securities Exchange – CSE
– *updated – February 22, 2022 –
The Canadian Securities Exchange (CSE) began operation in Canada in 2004. It originally operated as the Canadian Trading and Quotation System Inc. (CNQ). It changed its name to the Canadian National Securities Exchange (CNSX) in November of 2008. It changed its name from CNSX to its current name, the Canadian Securities Exchange (CSE), in January 2014.
At the close of January 31, 2022, the CSE had 635 listings, debt securities and structured products (July 10, 2018 – 391) trading on its exchange. Approximately, 168 (26.45%) of these companies are involved in the cannabis industry (July 10, 2018 – 78 or 20%). This includes companies operating in the United States and other countries where the research, cultivation and sale of cannabis related products is legal.
The listing requirements for the Canadian Securities Exchange are as follows:
| Requirements | Industrial, Technology & Life Sciences | Mining | Real Estate/ Investment |
|---|---|---|---|
| Net Tangible Assets or Revenue | N/A | N/A | C$2,000,000 net tangible assets with 50% allocated to 2 investments or C$4 million |
| Minimum Cash in Treasury | Adequate to carry out stated work plan or execute business plan for 12 months following listing. | Adequate to carry out stated work plan or execute business plan for 12 months following listing. | Adequate to carry out stated work plan or execute business plan for 12 months following listing. |
| Minimum Working Capital | C$200,000 | C$200,000 | C$200,000 |
| Property | Significant interest in business or primary assets used to carry on business. | Significant interest in real property. | No requirement. |
| Prior Expenditure and Work Program | History of development of business or asset or have achieved revenue from sale of goods or the delivery of services. | $75,000 in last three years in qualifying expenditures. | Disclosed investment policy. |
| # of Public Board Lot Holders | 150 | 150 | 150 |
| Minimum Free Trading Public Float | 500,000 shares. | 500,000 shares. | 500,000 shares. |
| Minimum % of Issued and Outstanding Listed Shares Held by Public | 10% | 10% | 10% |
| Market value of Issued Securities to be Listed | No minimum | No minimum | No minimum |
| Minimum IPO Price Conducted Concurrent to Listing (1) | C$0.10 | C$0.10 | C$0.10 |
| Other (1) | No shares issued for less than C$0.005 in previous 18 months. | No shares issued for less than C$0.005 in previous 18 months.
NI 43-101 Report recommending a first phase program of at least $100,000. |
No shares issued for less than C$0.005 in previous 18 months. |
Note: (1) The CSE may waive various requirements if issuer has a substantial float ($1 million in arm’s length financing, 1 million in free trading shares, 200+ public shareholders, and 20% of issued and outstanding shares held by public holders.
Other requirements include:
- fully reporting in at least one province in Canada,
- not a blank check or inactive company,
- freely tradable shares must be worth a minimum of C $ 50,000,
- officers, directors, related persons and investor relations persons associated with the company must have a clean record (clean police and regulatory record),
- company must not have entered into a settlement agreement with a securities regulator or other authority, known to be related to another offender, or have a consistent record of business failures (particularly with public companies),
- agreement to comply with corporate governance requirements,
- must have letter from market maker agreeing to act as a market maker for securities of company once approved for listing, and
- business plan projecting the activities and financial condition of the company for 12 months from application date.
If you are planning to list of the CSE feel free to print off our CSE Listing Application Checklist.
_________
Other Articles You May Find of Interest:
- Master Chart of the Listing Requirements of the NYSE, NYSE-MKT, Nasdaq, TSX, TSX Venture Exchange, Aequitas Neo and CSE – February 22, 2022
- Listing Requirements of the New York Stock Exchange – February 22, 2022
- Listing Requirements of the Toronto Stock Exchange – Industrial, Tech., Research & Dev. Issuers – February 22, 2022
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