“… and we are going to list our securities on the TSX…” – Listing Representations and Offering Memoranda – Canadian Issuers

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By Alixe Cormick and Brian Koscak Securities laws in Canada prohibit making a written or oral representation that a security will be listed on a stock exchange or quoted on a quotation and trade reporting system (an Exchange) or that an application has been or will be made to list the security, unless an issuer meets […]

TSX Releases Guidance on Pricing of Pre-IPO Options

The Toronto Stock Exchange (the TSX) has recently published a Staff Notice  on the pricing of stock options (Options) granted prior to an initial public offering (an IPO). Subsection 613(h)(i) of the TSX Company Manual states that Options granted under a security based compensation agreement may not be granted with an exercise price which is […]