TSX: Don't Omit Significant Information In Private Placement Notice

• The Toronto Stock Exchange (TSX) has adopted amendments to TSX Form 11 – Notice of Private Placement (Form 11) to clarify the type of "significant information" to be disclosed therein.
• These amendments follow the publication of TSX Staff Notice 2017-0010 (Staff Notice), which reminded TSX-listed issuers that they are expected to describe significant information regarding a proposed private placement not otherwise disclosed in Form 11.

As described in the Staff Notice, Form 11 is intended to provide the TSX with key information about a proposed distribution. Per Item 12 of Form 11, TSX-listed issuers are required to disclose significant information regarding the private placement. The Staff Notice and amended Form 11 provide guidance as to what the TSX considers significant information. The definition encompasses "any relevant significant matters" including the following, among others::