CSA Creates New Exemption to Allow Eligible Listed Public Companies to Issue Freely Tradable Securities Without Filing a Prospectus
Issuers utilizing the Exemption will be required to issue a press release announcing the distribution and file a short offering document containing the information specified in Form 45-106F19 Listed Issuer Financing Document (the “Offering Document”). Such information includes the details and price of the securities being offered, a brief summary of the issuer’s business and any recent developments, any material facts not otherwise disclosed in the issuer’s public disclosure, and the use of the funds raised. The Offering Document will not be reviewed by applicable CSA staff in advance of the distribution. If the Offering Document contains any misrepresentations, the issuer, and in some jurisdictions, the executives signing the Offering Document and the issuer’s directors, would be subject to the statutory liability regime applicable to prospectus offerings.
Expertise
Authors
Insights
-
Banking and Financial Services
Canadian Securities Regulators Publish Temporary Exemptions For Derivatives Data Reporting Requirements
On October 31, 2024, the Canadian Securities Administrators (CSA) introduced temporary relief from certain derivative data reporting requirements under the Trade Reporting Rules identified… -
Capital Markets
CSA Releases Results of Tenth Gender Diversity Review
On October 30, 2024, the Canadian Securities Administrators (CSA) released CSA Multilateral Staff Notice 58-317 – Review of Disclosure Regarding Women on Boards and in Executive Officer Positions… -
REITS and Income Securities
The Legal Industry Reviews Edition 6 - REITs Chapter
Stephen Pincus, Brenda Gosselin, and Bill Gorman have co-authored The Canadian REIT Structure in the fifth edition of The Legal Industry Reviews Canada.To view the… -
Capital Markets
Canadian Securities Administrators Further Extend Compliance Deadline in Interim Approach to Value-Referenced Crypto Assets
On September 26, 2024, the CSA provided a further update for crypto asset trading platforms (CTPs) that are registered, or that have provided a pre-registration undertaking (PRU), on the interim… -
Capital Markets
Clarification on Rules Relating to the Removal of Directors by Shareholders
In OneMove Capital Corporation v. Dye & Durham Limited (“OneMove v. D&D”), the Ontario Superior Court of Justice (the “Court”) held that shareholders may not submit a proposal under section… -
Structured Finance and Derivatives
Derivatives Business Conduct Rule Coming into Force this Month; CSA Publishes FAQs
The Canadian Securities Administrators (CSA) recently published CSA Staff Notice 93-302 Frequently Asked Questions About National Instrument 93-101 Derivatives: Business Conduct (FAQs), which…
Featured Work
-
Capital Markets
Cormark Securities Inc. leads $51.75 million bought deal offering for Kraken Robotics
Goodmans LLP acted for the underwriters in connection with a bought deal short form prospectus offering of over 32.3 million common shares of Kraken Robotics Inc. for gross proceeds of C$51.75 million… -
Banking and Financial Services
Majority interest in Vault Credit Corporation and Vault Home Credit Corporation sold for $60 Million to HB Leaseco affiliate
Goodmans LLP represented Vault Credit Corporation and Vault Home Credit Corporation in the sale of Chesswood Group Limited's entire interest in Vault to an affiliate of HB Leaseco Holdings Inc., in… -
Capital Markets
Saba Capital reaches agreement with Citadel Income Fund
Goodmans LLP acted for Saba Capital Management, L.P. in relation to its agreement with Citadel Income Fund and its manager, Artemis Investment Management Limited following a protracted dispute… -
Capital Markets
RioCan REIT completes private placement offering of $300 million Series AK debentures
Goodmans LLP advised RioCan Real Estate Investment Trust in connection with a brokered private placement offering of $300 million principal amount of Series AK senior unsecured debentures… -
Capital Markets
Cormark Securities Inc. leads $20 million bought deal offering for Kraken Robotics
Goodmans LLP acted for the underwriters in connection with a bought deal short prospectus offering of 21.1 million common shares of Kraken Robotics Inc. for gross proceeds of C$20.1 million… -
Mining
Hudbay Minerals completes US$402 million bought deal equity offering
Goodmans LLP advised Hudbay Minerals Inc. in the public offering of its common shares for aggregate gross proceeds of US$402,477,000, including the full exercise of the underwriters’ overallotment…
News & Events
-
Capital Markets
Jamie van Diepen named 2024 Lexpert Rising Star: Leading Lawyer Under 40
Goodmans is pleased to congratulate Jamie van Diepen who has been honoured as a Lexpert® Rising Star: Leading Lawyer Under 40 for 2024.Jamie van Diepen is a partner in a business law group at Goodmans… -
Banking and Financial Services
Goodmans Once Again Receives Top-Tier Recognition from The Legal 500 Canada
We are pleased to announce Goodmans LLP has once again received top-tier recognition from The Legal 500 Canada in their 2025 Guide released today.Recognition from The Legal 500 is based on independent… -
Banking and Financial Services
Goodmans Recognized in the Inaugural Edition of Best Law Firms - Canada 2025
Goodmans is delighted to share we are featured in the inaugural edition of Best Law Firms - Canada 2025, recognizing us as one of the country’s exceptional law firms across 40 industries and practices…