Author Archives: pubcolaw

CSE Listing Applications

A short note that the CSE will no longer accept listing applications from reporting issuers that have been established by way of a Plan of Arrangement (“POA”). The CSE were bombarded by marginal companies that were set up to meet minimum listing requirements and then turn, either fail, or turn around and do something entirely […]

The Canadian Securities Administrators

The Canadian Securities Administrators have issued an unflattering report with respect to pre-production mining issuer disclosure on their websites. Of 130 investor presentations on issuer websites reviewed by the regulators, a whopping 82% were found to be in non-compliance with applicable disclosure rules. 25% of the investor presentations were found to be in major non-compliance […]

Raising Money in BC

Raising Money in BC: New Private Placement Exemption for Issuers Proposed in BC   The securities regulatory authorities in British Columbia are proposing a new prospectus exemption that would, subject to certain conditions, allow issuers listed on a Canadian exchange to raise money by distributing securities to investors who have obtained advice about the suitability […]

Purpose of reducing Venture Issuer regulation

With the purpose of reducing Venture Issuer regulation, the Canadian Securities Administrators have adopted effective July 1, 2015 streamlined disclosure requirements for Venture Issuers with respect to interim quarterly management discussion and analysis of quarterly financial results. Once in effect, the amendments (principally to NI 51-102) will:

SEC Adopts Rules to Facilitate Smaller Companies’ Access to Capita

New Rules Provide Investors With More Investment Choices FOR IMMEDIATE RELEASE 2015-49 Washington D.C., March 25, 2015 —The Securities and Exchange Commission today adopted final rules to facilitate smaller companies’ access to capital.  The new rules provide investors with more investment choices.   The new rules update and expand Regulation A, an existing exemption from […]

Nasty Computer Virus File Seizing Encryption Malware

There has been an increasing incidence of a very nasty computer virus malware (ultimately very costly to the victims as they are subject to ransom demands) called CryptoWall. The Law Society of BC highlighted this in its Spring 2015 Bencher’s Bulletin. This is a synopsis of that article. The malware is a threat to all […]

Canadian securities regulators have published proposed amendments

December 9, 2014: Canadian securities regulators have published proposed amendments to legislation which in part clarify the “business trigger” for when a “start-up” or non-active-business issuer may be required to “register” in order to “trade” in or sell securities to investors.

Raising Money for your Business

When you go about raising money to help fund a business venture, you will almost always engage in the sale of securities. While the definition of a “security” is very broad under applicable legislation, a simplified description is that it is any document or right that, in exchange for money from an investor, entitles the investor to a return on such monies derived from the business. The most common security is of course common shares issued by the business but includes promissory notes and any other such promises to return monies received and presumably interest or other return on such monies.