CSA Provides Guidance On Listed Issuer Financing Prospectus Exemption

The Canadian Securities Administrators (CSA) has provided new guidance on the use of the listed issuer financing prospectus exemption (the "Exemption") in CSA Staff Notice 45-330 - Frequently Asked Questions about the Listed Issuer Exemption (the "Staff Notice"). The Exemption was adopted by all Canadian securities regulatory authorities in November 2022 and allows eligible listed public companies to raise limited amounts of capital by issuing freely tradable listed securities without filing a prospectus. The Staff Notice provides responses to frequently asked questions about the Exemption, as well as observations about offerings that have utilized the Exemption.

The Exemption