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ARTICLE · 12 DECEMBER 2022

TSX Considering Adoption Of Pricing Guidelines For Prospectus Offerings

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On December 1, 2022, the Toronto Stock Exchange (the "TSX") published proposed amendments (the "Proposed Amendments") to Section 606 of the TSX Company Manual, which if adopted...

CanadaFinance and Banking
Georges Dubé
Georges Dubé
Ouvedi Rama Naiken
Ouvedi Rama Naiken
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On December 1, 2022, the Toronto Stock Exchange (the "TSX") published proposed amendments (the "Proposed Amendments") to Section 606 of the TSX Company Manual, which if adopted, would set standards to state clearly what constitutes a bona fide prospectus offering. The Proposed Amendments are expected to be effective in the first quarter of 2023 following a public comment period and approval by the Ontario Securities Commission (the "OSC"). The comment period in respect of the Proposed Amendments ends on January 31, 2023.

After consulting various market participants and reviewing its deal pricing data, the TSX identified the following key factors that it intends to consider when determining the nature of a proposed prospectus offering:

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The foregoing provides only an overview and does not constitute legal advice. Readers are cautioned against making any decisions based on this material alone. Rather, specific legal advice should be obtained.

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