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ARTICLE · 06 JANUARY 2014

Proposed Listing Representation Relief In Offering Documents For Foreign Issuers Doing Private Placements Into Canada

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In our prior article, we discussed how securities laws in Canada prohibit making written or oral representations.

CanadaCorporate/Commercial Law

"... and we are going to list our securities on the NYSE ..."

In our prior article (the Prior Article), we discussed how securities laws in Canada prohibit making written or oral representations that: (a) a security will be listed on an exchange or quoted on a quotation and trade reporting system; or (b) an application has been or will be made to list the security, unless an issuer meets certain conditions or obtains permission or authorization from all applicable securities regulators (a listing representation).

Our Prior Article focused primarily on Canadian resident issuers. This article discusses listing representations in an offering document made by a foreign issuer (e.g., U.S. issuers) offering securities into Canada as part of an international financing and recent so called 'wrapper' relief proposals published by various Canadian securities regulators.

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