TSXV Amends Policy 4.1 - Private Placements

The TSXV's amendments to Policy 4.1 – Private Placements ("Policy 4.1") came into force on January 26, 2015, many of which are non-substantive in nature despite the policy undergoing a substantial redraft. Some of the more substantive amendments include the following:

1. Expanded Guidance on Notice and Acceptance Procedures:

The amendments include further guidance from the TSXV on the steps involved in the notice and acceptance process for a private placement, from price reservation to the publication of the TSXV's bulletin. This new guidance in Policy 4.1 outlines the steps to be taken by an issuer when it intends to close a private placement upon receipt of conditional acceptance of the TSXV as opposed to final acceptance.