Responding to the extraordinary circumstances that
issuers are currently facing as a result of the COVID-19 pandemic,
the TSX Venture Exchange (TSXV) has temporarily reduced the minimum
price at which listed shares may be issued from $0.05 to $0.01 in
certain circumstances.
In a bulletin published on April 8, 2020, the TSXV
has provided temporary relief (the Temporary Relief) from certain
requirements of its Corporate Finance Manual (the Manual) to reduce
the minimum price at which listed shares may be issued in private
placements, public offerings, shares for debt transactions and as
bonuses for loans or guarantees. Under the Temporary Relief, where
the Market Price (as defined in the Manual) of an issuer’s
listed shares is not greater than $0.05, the minimum price at which
such issuer’s shares may be issued will be the Market Price
subject to a minimum price of $0.01. Where the Market Price of
listed shares is greater than $0.05, the minimum price at which
listed
