VANCOUVER, May 8, 2013 /CNW/ -
TSX VENTURE COMPANIES:
BULLETIN TYPE: Notice to Issuers
BULLETIN DATE: May 8, 2013
| Re: | Policy Amendments: | ||||||
| (a) | Policy 4.4 - Incentive Stock Options | ||||||
| (b) | Policy 4.7 - Charitable Options in Connection with an IPO | ||||||
| (c) | Form 4G - Summary Form - Incentive Stock Options | ||||||
Implementation of Policy Amendments:
Effective immediately, TSX Venture Exchange ("TSXV" or the "Exchange") is implementing amendments to Policy 4.4 - Incentive Stock Options ("Policy 4.4"). A significant number of the amendments are for the purpose of clarifying and providing guidance on existing requirements and procedures and, correspondingly, do not constitute either the implementation of new nor the variation of existing policy requirements. Certain of the amendments do, however, constitute new policies. Principal amongst these is the introduction of new policies which permit an Issuer to grant options to charitable organizations subsequent to listing. A summary description of the principal amendments to Policy 4.4 is provided below.
In connection with the amendments to Policy 4.4, the Exchange is also concurrently implementing corresponding minor amendments to Policy 4.7 - Charitable Options in Connection with an IPO ("Policy 4.7") and Form 4G - Summary Form - Incentive Stock Options ("Form 4G"). The amendments to Policy 4.7 consist solely of a change to its title and adding a cross-reference to Policy 4.4 to the first paragraph of Policy 4.7.
Full Text of Amended Policies and Forms:
The full text of the amended Policy 4.4 and Policy 4.7 along with a blackline of the amended Policy 4.4 to the June 14, 2010 version of Policy 4.4 (the "Previous Policy 4.4") are available on the TMX Group Inc.'s website at the following page:
http://www.tmx.com/en/listings/venture_issuer_resources/finance_manual.html
The full text of the amended Form 4G is available on the TMX Group Inc.'s website at the following page:
http://www.tmx.com/en/listings/venture_issuer_resources/finance_forms.html
NOTE: Issuers are required to make use of the new Form 4G effective immediately.
Summary of Principal Amendments to Policy 4.4:
The principal amendments to Policy 4.4 are summarized as follows:
| 1. | Grant of Options to Eligible Charitable Organizations (section 3.13): Existing TSXV policies, specifically Policy 4.7, only permit the grant of options to charitable organizations prior to or in connection with an Issuer's initial public offering. Subject to certain conditions set forth in section 3.13, Policy 4.4 now permits Issuer's to grant options to charitable organizations subsequent to listing. |
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| 2. | Extension of Option if Expiring During a "Blackout Period" (section 3.8): Language has been added to section 3.8 of Policy 4.4 which formalizes TSXV's existing practice of permitting a stock option plan to contain a provision allowing for the automatic extension to the expiry date of a stock option governed by the plan if such expiry date falls within a "blackout period". Specific requirements are set forth in section 3.8 of Policy 4.4. |
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| 3. | Shareholder Approval Requirements (section 3.9 and 3.10): Sections 3.9 and 3.10 of Policy 4.4 (sections 2.9 and 2.10 in the Previous Policy 4.4) have been substantially redrafted to clarify and provide guidance on the shareholder approval requirements applicable to stock option plans, grants and amendments. This includes: |
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| a. | Clarifying when shareholder approval is required for amendments to a stock option plan (at section 3.9(c)). |
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| b. | Clarifying the requirements applicable to granting options under a new or amended stock option plan prior to such plan having been approved by the shareholders (at sections 3.9(e) and (f)). |
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| c. | Clarifying the Information Circular disclosure requirements that are applicable when an Issuer seeks shareholder approval of a stock option plan, grant or amendment (at sections 3.9(g) and 3.10(c)). |
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| 4. | TSXV Approval for Amendments to Plans (section 4.1): Language has been added to section 4.1 of Policy 4.4 to clarify that Exchange acceptance is required for any amendment to a stock option plan. |
It should be noted that the foregoing is a summary only. The full text of Policy 4.4 along with the blackline to the Previous Policy 4.4 should be reviewed to ascertain the full extent of the amendments to Policy 4.4 that are being implemented at this time.
If you have any questions about this bulletin, please contact:
Zafar Khan - Policy Counsel, 604-602-6982
TYPE DE BULLETIN : Avis aux émetteurs
DATE DU BULLETIN : Le 8 mai 2013
| Objet : | Modification de politiques : | ||||||
| (a) | Politique 4.4 - Options d'achat d'actions incitatives | ||||||
| (b) | Politique 4.7 - Options de bienfaisance dans le cadre d'un premier appel public à l'épargne |
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| (c) | Formulaire 4G - Résumé - Options d'achat d'actions incitatives | ||||||
Mise en œuvre des modifications des politiques:
La Bourse de croissance TSX procède à la mise en œuvre immédiate des modifications de la Politique 4.4 - Options d'achat d'actions incitatives (la « Politique 4.4 »). Bien qu'une bonne part des modifications vise à éclaircir les exigences et les procédures en vigueur ou à fournir des directives à leur sujet et, par conséquent, ne constitue pas une modification des exigences des politiques actuelles ni la mise en œuvre de nouvelles politiques, certaines modifications constituent toutefois de nouvelles politiques. Parmi celles-ci figurent en premier lieu celles qui permettent à un émetteur, après son inscription à la cote, d'octroyer des options à un organisme de bienfaisance. Vous trouverez ci-dessous une description sommaire des principales modifications apportées à la Politique 4.4.
Conjointement aux modifications de la Politique 4.4, la Bourse apporte des modifications mineures à la Politique 4.7 - Options de bienfaisance dans le cadre d'un premier appel public à l'épargne (« Politique 4.7 ») et au Formulaire 4G - Résumé - Options d'achat d'actions incitatives (« Formulaire 4G »). Les seules modifications apportées à la Politique 4.7 concernent le changement de son titre et l'ajout à son premier paragraphe d'un renvoi à la Politique 4.4.
Libellé intégral des politiques modifiées et du formulaire:
Le libellé intégral des politiques 4.4 et 4.7 modifiées ainsi qu'un document indiquant les modifications par rapport à la version du 14 juin 2010 de la Politique 4.4 (la « version antérieure de la Politique 4.4 ») peuvent être consultés sur le site Web de Groupe TMX Inc. à l'adresse suivante :
http://www.tmx.com/fr/listings/venture_issuer_resources/finance_manual.html
Le Formulaire 4G modifié est accessible sur le site Web de Groupe TMX Inc. à l'adresse suivante :
http://www.tmx.com/fr/listings/venture_issuer_resources/finance_forms.html
REMARQUE : Les émetteurs doivent utiliser le nouveau Formulaire 4G dès maintenant.
Résumé des principales modifications de la Politique 4.4:
Les principales modifications de la Politique 4.4 sont résumées ci-après :
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Octroi d'options aux organismes de bienfaisance admissibles (paragraphe 3.13) : Les politiques actuelles de la Bourse de croissance TSX, et plus précisément la Politique 4.7, permettent uniquement l'attribution d'options à des organismes de bienfaisance dans le cadre du premier appel public à l'épargne d'un émetteur ou avant la clôture de celui-ci. Sous réserve des modalités énoncées au paragraphe 3.13, la Politique 4.4 permet maintenant à un émetteur d'octroyer des options à un organisme de bienfaisance après l'inscription à la cote. |
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| 2. | Reconduction d'une option venant à échéance au cours d'une période de restriction de la négociation (paragraphe 3.8) : L'ajout au paragraphe 3.8 de la Politique 4.4 officialise la pratique actuelle de la Bourse de croissance TSX permettant à un régime d'options d'achat d'actions de comporter une disposition qui prévoit le report automatique de la date d'échéance des options régies par le régime si cette date tombe au cours d'une période de restriction de la négociation. Les exigences particulières sont énoncées à ce même paragraphe. |
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| 3. | Exigences relatives à l'approbation des actionnaires (paragraphes 3.9 et 3.10) : Les paragraphes 3.9 et 3.10 de la Politique 4.4 (soit les paragraphes 2.9 et 2.10 de la version antérieure de la Politique 4.4) ont été remaniés en profondeur afin de clarifier les exigences relatives à l'approbation des actionnaires à l'égard des régimes d'options d'achat d'actions, des attributions et des modifications, et de fournir des directives à leur sujet. Sont précisées notamment : |
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| a. | les circonstances exigeant l'approbation des actionnaires à l'égard des modifications apportées à un régime d'options d'achat d'actions (alinéa 3.9c)); |
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| b. | les exigences applicables à l'attribution des options dans le cadre d'un nouveau régime d'options d'achat d'actions ou d'un régime d'options d'achat d'actions modifié avant l'obtention de l'approbation des actionnaires (alinéas 3.9e) et f)); |
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| c. | les exigences en matière de divulgation dans la circulaire d'information qui s'appliquent lorsqu'un émetteur demande l'approbation des actionnaires à l'égard d'un régime d'options d'achat d'actions, d'attributions et de modifications (alinéas 3.9g) et 3.10c)). |
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| 4. | Approbation de la Bourse de croissance TSX à l'égard de la modification des régimes (paragraphe 4.1) : Le paragraphe 4.1 de la Politique 4.4 a été reformulé de façon à expliciter que l'approbation de la Bourse de croissance TSX est requise à l'égard de toute modification d'un régime d'options d'achat d'actions. |
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Les renseignements qui précèdent ne sont qu'un résumé. Il convient de consulter le libellé intégral de la Politique 4.4 ainsi que le document indiquant les modifications par rapport à la version antérieure pour connaître la portée des modifications qui sont mises en œuvre dès maintenant.
Pour toute question relative à ce bulletin, veuillez communiquer avec :
Zafar Khan, conseiller juridique en matière de politiques, au 604 602-6982
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BULLETIN TYPE: Cease Trade Order
BULLETIN DATE: May 8, 2013
TSX Venture Tier 2 Company
A Cease Trade Order has been issued by the Autorité des marchés financiers on May 8, 2013, against the following Company for failing to file the document indicated within the required time period:
| Symbol | Company | Failure to File | Period Ending (Y/M/D) |
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| ("RBX") | Robex Resources Inc. | Annual Financial Statements | 12/12/31 | |||||||||||||||
Upon revocation of the Cease Trade Order, the Company's shares will remain suspended until the Company meets TSX Venture Exchange requirements. Members are prohibited from trading in the securities of the Company during the period of the suspension or until further notice.
TYPE DE BULLETIN : Interdiction d'opérations sur valeurs
DATE DU BULLETIN : Le 8 mai 2013
Société du groupe 2 de TSX Croissance
Une interdiction d'opérations sur valeurs a été émise le 8 mai 2013 par l'Autorité des marchés financiers envers la société suivante pour défaut de déposer le document indiqué dans la période prescrite :
| Symbole | Société | Défaut de déposer | Période se terminant (A/M/J) |
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| (« RBX ») | Ressources Robex Inc. | États financiers annuels | 12/12/31 | |||||||||||||||
Suite à l'interdiction d'opérations sur valeurs, la négociation des titres de la société demeurera suspendue jusqu'à ce que la société réponde aux normes de Bourse de croissance TSX. Il est interdit aux membres de transiger les titres de la société durant la période de suspension ou jusqu'à un avis ultérieur.
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ARIAN SILVER CORPORATION ("AGQ")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: May 8, 2013
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced May 8, 2013:
| Number of Shares: | 4,403,160 common shares | |||||
| Purchase Price: | £0.068133 per share | |||||
| Number of Placees: | 1 placee | |||||
| Finder's Fee: | £5,000 in cash payable to YA Global Master SPV. | |||||
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company has issued a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s).
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ATHABASCA URANIUM INC. ("UAX")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: May 8, 2013
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing a Property Option Agreement dated May 6, 2013 between the Company and St. Jacques Minerals Corp. whereby the Company has been granted an option to acquire a 100% interest in the Fisher River Property that is located in Saskatchewan. Consideration is $10,000 and 3,000,000 common shares with an additional $500,000 payment in the fourth year. The property is subject to a 1% NSR of which 0.5% (1/2) may be purchased by the Company for $1,000,000 subject to further Exchange review and acceptance.
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AVATAR ENERGY LTD. ("AVG.H")
[formerly Avatar Energy Ltd. ("AVG")]
BULLETIN TYPE: Transfer and New Addition to NEX, Symbol Change, Remain Suspended
BULLETIN DATE: May 8, 2013
TSX Venture Tier 2 Company
In accordance with TSX Venture Policy 2.5, the Company has not maintained the requirements for a TSX Venture Tier 2 company. Therefore, effective at the opening on Thursday, May 9, 2013, the Company's listing will transfer to NEX, the Company's Tier classification will change from Tier 2 to NEX, and the Filing and Service Office will change from Calgary to NEX.
As of May 9, 2013, the Company is subject to restrictions on share issuances and certain types of payments as set out in the NEX policies.
The trading symbol for the Company will change from AVG to AVG.H. There is no change in the Company's name, no change in its CUSIP number and no consolidation of capital. The symbol extension differentiates NEX symbols from Tier 1 or Tier 2 symbols within the TSX Venture market.
Further to the TSX Venture bulletin dated February 5, 2013, trading in the shares of the Company will remain suspended. Members are prohibited from trading in the securities of the Company during the period of the suspension or until further notice.
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BRILLIANT RESOURCES INC. ("BLT")
BULLETIN TYPE: Warrant Term Extension
BULLETIN DATE: May 8, 2013
TSX Venture Tier 1 Company
TSX Venture Exchange has consented to the extension in the expiry date of the following warrants:
| # of Warrants: | 85,185,169 | |||||
| Original Expiry Date of Warrants: | May 11, 2013 | |||||
| New Expiry Date of Warrants: | May 11, 2014 | |||||
| Exercise Price of Warrants: | $0.45 | |||||
These warrants were issued pursuant to a private placement of 42,100,617 shares with 42,100,617 share purchase warrants attached and pursuant to loan agreements with 43,084,552 shares with 43,084,552 share purchase warrants attached, which were accepted for filing by the Exchange effective May 10, 2011 and May 11, 2011.
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CLEARFORD INDUSTRIES INC. ("CLI")
BULLETIN TYPE: Shares for Bonuses
BULLETIN DATE: May 8, 2013
TSX Venture Tier 2 Company
Further to TSX Venture Exchange (the "Exchange") bulletins dated March 16, 2012, November 9, 2012, January 8, 2013, March 1, 2013 and April 16, 2013, the Exchange has accepted for filing the Company's proposed documentation pertaining to a further increase in the revolving credit facility (the "Loan") between Clearford Industries Inc. (the "Company") and Mundaun Financial Design AG (the "Lender"). The Lender will provide an increase in the principle of the Loan of $340,000 from $7,947,460 to $8,287,460. The Loan bears interest at a rate of 11% per annum and has a term of twenty years.
Additionally, the Exchange has accepted for filing a bonus of 816,000 warrants to be issued to the Lender in connection with the increase in the Loan. Each warrant is exercisable into one common share at $0.20 per share for a three year period. The Company will also pay a finder's fee of 10% for the amounts of the loan advanced to Canadian Water Projects Inc.
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EXITO ENERGY II INC. ("EXI.P")
BULLETIN TYPE: Resume Trading
BULLETIN DATE: May 8, 2013
TSX Venture Tier 2 Company
Effective at 5:00 a.m., PST, May 8, 2013, shares of the Company resumed trading, an announcement having been made.
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FIRM CAPITAL PROPERTY TRUST ("FCD.UN")
BULLETIN TYPE: Notice of Distribution
BULLETIN DATE: May 8, 2013
TSX Venture Tier 2 Company
The Issuer has declared the following distribution(s):
| Distribution per Unit: | $0.029166 | |||||
| Payable Date: | August 15, 2013 | |||||
| Record Date: | July 31, 2013 | |||||
| Ex-Distribution Date: | July 29, 2013 | |||||
| Distribution per Unit: | $0.029166 | |||||
| Payable Date: | September 16, 2013 | |||||
| Record Date: | August 30, 2013 | |||||
| Ex-Distribution Date: | August 28, 2013 | |||||
| Distribution per Unit: | $0.029166 | |||||
| Payable Date: | October 15, 2013 | |||||
| Record Date: | September 30, 2013 | |||||
| Ex-Distribution Date: | September 26, 2013 | |||||
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GIDEON CAPITAL CORP. ("GOL.P")
BULLETIN TYPE: Resume Trading
BULLETIN DATE: May 8, 2013
TSX Venture Tier 2 Company
Further to the Company's press release dated May 7, 2013, effective at the opening, Thursday, May 9, 2013, the common shares of the Company will resume trading. The Company's proposed transaction with Monterra S.A. has been terminated.
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GLOBAL GREEN MATRIX CORP. ("GGX")
BULLETIN TYPE: Warrant Term Extension
BULLETIN DATE: May 8, 2013
TSX Venture Tier 2 Company
TSX Venture Exchange has consented to the extension in the expiry date of the following warrants:
| Private Placement: | ||||||
| # of Warrants: | 15,398,333 | |||||
| Original Expiry Date of Warrants: | July 13, 2012 | |||||
| New Expiry Date of Warrants: | July 13, 2015 | |||||
| Exercise Price of Warrants: | $0.20 | |||||
These warrants were issued pursuant to a private placement of 15,398,333 shares with 15,398,333 share purchase warrants attached, which was accepted for filing by the Exchange effective July 25, 2010.
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GOLDEN ARROW RESOURCES CORP. ("GRG")
BULLETIN TYPE: Halt
BULLETIN DATE: May 8, 2013
TSX Venture Tier 2 Company
Effective at 11:17 a.m., PST, May 8, 2013, trading in the shares of the Company was halted at the request of the Company, pending news. This regulatory halt is imposed by Investment Industry Regulatory Organization of Canada, the Market Regulator of the Exchange pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules.
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PHARMAGAP INC. ("GAP.H")
[formerly PharmaGap Inc. ("GAP")]
BULLETIN TYPE: Transfer and New Addition to NEX, Symbol Change, Remain Suspended
BULLETIN DATE: May 8, 2013
TSX Venture Tier 2 Company
Further to the Company's press releases of February 4 and 6, 2013 and in accordance with TSX Venture Policy 2.5, the Company has not maintained the requirements for a TSX Venture Tier 2 company. Therefore, effective at the opening on Thursday, May 9, 2013, the Company's listing will transfer to NEX, the Company's Tier classification will change from Tier 2 to NEX, and the Filing and Service Office will change from Toronto to NEX.
As of May 9, 2013, the Company is subject to restrictions on share issuances and certain types of payments as set out in the NEX policies.
The trading symbol for the Company will change from GAP to GAP.H. There is no change in the Company's name, no change in its CUSIP number and no consolidation of capital. The symbol extension differentiates NEX symbols from Tier 1 or Tier 2 symbols within the TSX Venture market.
Further to the TSX Venture bulletin dated May 6, 2013, trading in the shares of the Company will remain suspended. Members are prohibited from trading in the securities of the Company during the period of the suspension or until further notice.
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PURE MULTI-FAMILY REIT LP ("RUF.U")
BULLETIN TYPE: Prospectus-Unit Offering
BULLETIN DATE: May 8, 2013
TSX Venture Tier 1 Company
The Company's Prospectus dated May 1, 2013 was filed with and accepted by TSX Venture Exchange, and filed with and receipted by the Ontario and British Columbia Securities Commissions, pursuant to the provisions of the Ontario and British Columbia Securities Acts.
TSX Venture Exchange has been advised that closing occurred on May 8, 2013, for gross proceeds of US$35,000,000.
| Underwriters: | National Bank Financial Inc. | |||||
| Canaccord Genuity Corp. | ||||||
| CIBC World Markets Inc. | ||||||
| Dundee Securities Ltd. | ||||||
| Scotia Capital Inc. | ||||||
| GMP Securities LP (Canada) Inc. | ||||||
| Desjardins Securities Inc., and | ||||||
| Acumen Capital Finance Partners Limited | ||||||
| Offering: | 7,000,000 units. | |||||
| Unit Price: | US$5.00 per unit | |||||
| Underwriters'' Commission: | 5.00% | |||||
| Greenshoe Option: | The Underwriters may over-allot the units in connection with this offering and the Company has granted to the Underwriter, an option to purchase additional units, up to 15% of the offering, at US$5,250,000 gross, up to the close of business on June 7, 2013. |
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The Underwriters may over-allot the units in connection with this offering and the Company has granted to the Underwriters an option to purchase additional units, up to 15% of the offering, at a price of US$5.00 per unit for additional gross proceeds of up to US$5,250,000, up to the close of business on June 7, 2013.
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RAPIER GOLD INC. ("RPR")
BULLETIN TYPE: Property-Asset or Share Purchase Amending Agreement
BULLETIN DATE: May 8, 2013
TSX Venture Tier 2 Company
Further to the Bulletin dated March 7, 2013 and the Company's Form 2B Listing Application dated
March 4, 2013, TSX Venture Exchange has accepted for expedited filing documentation pertaining to an amendment to the option agreement dated June 1, 2012, between the Company and Garry Windsor, Frederick Ross, Chris McManus and Pierre Robert, to purchase the Pen Gold East property located in Kenohaming Township, Purcupine Mining Division, Ontario. Under the amended terms, the cash option payment of $40,000 due in May 2013 will be paid by the issuance of 135,000 shares. Total consideration now consists of $220,000 ($50,000 in the first year) and 385,000 shares (185,000 in the first year). The Property is subject to a 2% NSR of which the Company may re-purchase 1% for $2,000,000.
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RAPIER GOLD INC. ("RPR")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: May 8, 2013
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for expedited filing documentation pertaining to a Memorandum of Understanding dated March 28, 2013 between the Company and Flying Post First Nation and Mattagami First Nation with respect to the Company's exploration activities on the Pen Gold project and pursuant to which the Company will issue 150,000 shares.
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SPARTA CAPITAL LTD. ("SAY")
BULLETIN TYPE: Shares for Debt
BULLETIN DATE: May 8, 2013
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing the Company's proposal to issue 75,000 common shares of the Company ("Shares") at a deemed price of $0.05 per Share in satisfaction of outstanding fees owed to an unsecured creditor.
| Number of Creditors: | 1 Creditor | |||||
| Insider / Pro Group Participation: | None | |||||
The Company shall issue a news release when the shares are issued and the debt extinguished.
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VANOIL ENERGY LTD. ("VEL")
BULLETIN TYPE: Resume Trading
BULLETIN DATE: May 8, 2013
TSX Venture Tier 2 Company
Effective at 5:00 a.m., PST, May 8, 2013, shares of the Company resumed trading, an announcement having been made.
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SOURCE: TSX Venture Exchange
Market Information Services at 1-888-873-8392, or email: [email protected]
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