TSXV Adopts Amended Rules For Private Placements

The TSXV recently amended Policy 4.1 (Private Placements), Form 4B (Private Placement Notice Form) and Policy 5.1 (Loans, Loan Bonuses, Finder's Fees and Commissions) of the TSX Venture Exchange Corporate Finance Manual. The amendments are described by the TSXV as "a major redrafting" though only some of the amendments are described as being non-substantive in nature.

In particular, the TSXV is discontinuing the Expedited Filing System (and consequently deleting what was formerly Part 5 of Policy 4.1). In its place, Issuers can use a new system called "V-File" which allows for the electronic filing of the information that is currently included in Form 4B. V-File also automates parts of the TSXV's review and acceptance process for private placements.