TSX Venture Listing Requirements
posted on
Mar 28, 2022 07:14PM
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)
https://venturelawcorp.com/tsx-venture-exchange-mining-exploration/
– * last updated March 24, 2022 –
There are two tiers on the TSX Venture Exchange. Tier One is aimed at larger more established companies. Tier One companies have certain listing benefits not available to more junior companies listed on Tier Two of the TSX Venture Exchange. Tier Two companies are generally early stage or junior companies which the TSX Venture Exchange believes need a bit more guidance than Tier One companies. The table below sets-out the listing requirements for Tier One and Tier Two of the TSX Venture Exchange (TSX-V) for Exploration and Mining Companies.
We are always open to talk to corporate executives who are considering listing on the TSX-V. The listing requirements can sometimes be confusing and waivers can be applied for in certain circumstances when a company desiring to list is strong in all listing categories but for one. Do feel free to book an appointment with us if you need assistance to determine if your company qualifies to list on the TSX-V or other exchange.
Requirements | In Production Mining Companies (Tier 1) | Pre-Production Feasibility Stage Mining Companies (Tier 2) |
---|---|---|
Property Requirements | Material interest in a Tier 1 property(1) | Significant interest(2) in a qualifying property or, at discretion of the TSXV, a right to earn a significant interest in a qualifying property. |
Recommended Work Program | $500,000 on the qualifying property as recommended by geological report | $200,000 on the qualifying property as recommended by geological report |
Net Tangible Assets | $2,000,000 net tangible assets | No requirement |
Minimum Prior Expenditure and Work Program | N/A | C$100,000 of exploration expenditures on the qualifying property in the past 36 months |
# of Public Board Lot Holders | 250 | 200 |
Minimum Free Trading Public Float | 1,000,000 shares. | 500,000 shares. |
Minimum % of Issued and Outstanding Listed Shares Held by Public | 20% | 20% |
Market value of Issued Securities to be Listed | No minimum | No minimum |
Minimum IPO Price Conducted Concurrent to Listing | C$0.10 | C$0.10 |
Minimum Cash in Treasury | Adequate to carry out stated work plan or execute business plan for 18 months following listing. | Adequate to carry out stated work plan or execute business plan for 12 months following listing. |
Minimum Additional Working Capital | C$200,000 | C$100,000 |
Sponsorship Required | No(3) | No(3) |
Form 43-101 Geological Report | Yes. | Yes. |
Notes:
The listing staff of the TSXV will also look at the suitability of all officers, directors and stockholders holding 10% or more of the company’s stock. Companies must have at least two independent directors. All companies listed on the TSXV must agree to abide by the corporate governance requirements of the exchange. For the listing criteria of exploration and mining companies on the TSX, go to the TSXV website: TSX – Listing Requirements for Exploration & Mining Companies
If less than 25 shareholders hold more than one-half of the Public Float (a “tight float”), the TSXV may also require further distribution.
For the listing criteria of technology, industrial and research and development companies click here or go to the TSX Venture Exchange website. TSX – Industrial, Technology, Research & Development.
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