TSX Venture Exchange Daily Bulletins

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TSX Venture Exchange

Apr 07, 2014, 21:55 ET

VANCOUVER, April 7, 2014 /CNW/ -

TSX VENTURE COMPANIES:

ABE RESOURCES INC. ("ABE")
BULLETIN TYPE:  Private Placement-Non-Brokered
BULLETIN DATE:  April 7, 2014
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing the documentation with respect to a Non-Brokered Private Placement:

Number of Shares:                    

2,000,000 common shares



Purchase Price:                        

$0.05 per common share





Warrants:                                 

2,000,000 common share purchase warrants to purchase 2,000,000 common shares



Warrant Exercise Price:            

$0.10 per common share for a four-year period following the closing of the private placement.



Number of Placees:                   

21 placees



Insider / Pro Group Participation:


Insider = Y /                                            

 Number

Name                                    

ProGroup = P                                        

of shares



Robert Bryce                          

Y                                                             

100,000

Yves Rougerie                        

Y                                                            

100,000

Martin Richard                        

Y                                                           

20,000



The Company has announced the closing of the Private Placement by way of a press release dated April 1, 2014.

RESSOURCES ABE INC. (« ABE »)
TYPE DE BULLETIN : Placement privé sans l'entremise d'un courtier
DATE DU BULLETIN : Le 7 avril 2014
Société du groupe 2 de TSX Croissance

Bourse de croissance TSX a accepté le dépôt de la documentation en vertu d'un placement privé sans l'entremise d'un courtier :

Nombre d'actions :                    

2 000 000 d'actions ordinaires



Prix :                                       

0,05 $ par action ordinaire



Bons de souscription :               

2 000 000 de bons de souscription permettant d'acquérir 2 000 000 d'actions ordinaires



Prix d'exercice des bons :         

0,10 $ par action ordinaire pour une période de quatre ans suivant la clôture du placement privé



Nombre de souscripteurs :         

21 souscripteurs



Participation Initié / Groupe Pro:


Initié = Y /                                        

Nombre

Nom                                        

Groupe Pro = P                              

d'actions

Robert Bryce                            

Y                                                       

100 000

Yves Rougerie                         

Y                                                       

100 000

Martin Richard                         

Y                                                       

20 000



La société a annoncé la clôture du placement privé précité par l'émission d'un communiqué de presse daté du 1er avril 2014.

_____________________________________

ANTIOQUIA GOLD INC. ("AGD")
BULLETIN TYPE:  Private Placement-Non-Brokered
BULLETIN DATE:  April 7, 2014
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced February 25, 2014 and April 1, 2014:

Number of Shares:                    

29,900,000 shares



Purchase Price:                        

$0.05 per share



Warrants:                                 

29,900,000 share purchase warrants to purchase 29,900,000 shares



Warrant Exercise Price:            

$0.05 for an eighteen (18) month period



Number of Placees:                   

8 placees



Insider / Pro Group Participation:


Insider=Y /


Name                                                              

ProGroup=P /                          

 # of Shares



James Decker                                                   

Y                                             

1,000,000

Fernando Jaramillo                                            

Y                                             

1,000,000

Desafio Minero S.A.C. (Michelle Dyer)



(Thessa Dyer) (Rafael Dyer)                               

Y                                            

26,000,000



Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.

________________________________________

ARROWHEAD GOLD CORP. ("AWH")
BULLETIN TYPE:  Consolidation
BULLETIN DATE:  April 7, 2014
TSX Venture Tier 2 Company

Pursuant to a special resolution passed by shareholders March 26, 2014, the Company has consolidated its capital on a four (4) old for one (1) new basis.  The name of the Company has not been changed.

Effective at the opening, Tuesday, April 8, 2014, the common shares of Arrowhead Gold Corp. will commence trading on TSX Venture Exchange on a consolidated basis. The Company is classified as a 'Junior National Resource Mining' company.

Post - Consolidation

Capitalization:                         

Unlimited

shares with no par value of which

15,471,760

shares are issued and outstanding

Escrow                                            

Nil

shares



Transfer Agent:                         

Computershare Trust Company of Canada

Trading Symbol:                        

AWH               

(UNCHANGED)

CUSIP Number:                        

042794206

(new)



________________________________________

BUILDERS CAPITAL MORTGAGE CORP. ("BCF")
BULLETIN TYPE:  Notice of Distribution
BULLETIN DATE:  April 7, 2014
TSX Venture Tier 1 Company

The Issuer has declared the following distribution(s):

Distribution per Class A Non-Voting Share:                                             

$0.1973

Payable Date:                                                                                       

April 30, 2014

Record Date:                                                                                        

March 31, 2014

Ex-Distribution Date:                                                                             

April 7, 2014


Builders Capital Mortgage Corp. has declared its quarterly distribution of $0.1973  per Class A Non-Voting share payable April 30, 2014 to shareholders of record March 31, 2014.

The shares should have commenced trading on an ex-distribution basis but due to late notification from the Company, it has been trading on a cum-distribution basis and will commence trading on an ex-distribution basis effective from the opening on April 7, 2014.

Participating Organizations that purchased the shares on TSXV during the period from March 27, 2013 up to and including April 4, 2014 should maintain a record of brokers that sold them the shares in order to enable such Participating Organizations to claim the distribution. (Symbol: BCF)

________________________________________

CHC REALTY CAPITAL CORP. ("CHC")
[formerly CHC Realty Capital Corp. ("CHC.P")]
BULLETIN TYPE:  Qualifying Transaction-Completed, Symbol Change, Resume Trading
BULLETIN DATE:  April 7, 2014
TSX Venture Tier 2 Company

Qualifying Transaction:

TSX Venture Exchange has accepted for filing the Company's Qualifying Transaction described in its Filing Statement dated March 21, 2014.  As a result, at the opening on Tuesday, April 8, 2014, the Company will no longer be considered a Capital Pool Company. The Qualifying Transaction includes the arm's length acquisition of a student housing property located at 335 Barrie Street, Kingston, Ontario (the "Property"), pursuant to the terms of the purchase and sale agreement dated January 9, 2014 entered into between the Company and Q4 Realty Inc. The purchase price for the Property was $2,500,000, which the Company satisfied through the assumption of the existing mortgage on the Property in the principal amount of $1,260,253 and the payment to the vendor of the balance of the purchase price of $1,239,747 in cash from the Company's existing funds.

The Exchange has been advised that the above transaction has been completed. For further information, please refer to the Company's Filing Statement dated March 21, 2014, available on SEDAR.

Symbol Change

Effective at the opening, Tuesday, April 8, 2014, the trading symbol for the Company will change from CHC.P to CHC.

Resume Trading

Further to TSX Venture Exchange's Bulletins dated January 9, 2014 and March 25, 2014, effective at the open on Tuesday, April 8, 2014, trading in the shares of the Company will resume.

Corporate Jurisdiction:                           

Ontario



Capitalization:                                     

Unlimited

shares with no par value of which

55,000,000

shares are issued and outstanding

Escrow:                                           

12,795,555

remain subject to the existing CPC Escrow Agreement.



Transfer Agent:                         

Equity Financial Trust Company

Symbol:                                            

CHC          

(NEW)

CUSIP Number:                                

12545H109  

(UNCHANGED)



The Company is classified as a 'Real Estate' company.

Company Contact:                    

Robert Waxman, Chief Financial Officer

Company Address:                   

53 Yonge Street, 5th Floor

Toronto, Ontario M5E 1J3

Company Phone Number:          

647-288-9375

Company Fax Number:              

647-288-9387


_________________________________________________

DONNER METALS LTD. ("DON")
BULLETIN TYPE:  Property-Asset or Share Purchase Agreement
BULLETIN DATE:  April 7, 2014
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing the documentation of Donner Metals Ltd. (the "Company") relating to an option agreement (the "Option Agreement") between the Company and Midland Exploration Inc. ("Midland") dated November 19, 2013 for the Valmond gold property, currently wholly owned by Midland.  The Valmond property consists of 62 claims covering a surface area of about 35 square kilometres.  This property is located about 50 kilometres west of the town of Matagami, in Abitibi, Quebec.

Under the terms of the Option Agreement, the Company may earn 50% of Midland interest over a period of four years by making cash payments totaling $250,000 ($20,000 upon signing the agreement, $50,000 by November 19, 2014, $50,000 by November 19, 2015, $60,000 by November 19, 2016 and $70,000 by November 19, 2017) and exploration expenditures totaling $2,500,000 ($300,000 by November 19, 2014, an additional $700,000 by November 19, 2015, an additional $800,000 by November 19, 2016 and an additional $700,000 by November 19, 2017).

For further information, please refer to the Company's press release dated December 10, 2013.

DONNER METALS LTD. (« DON »)
TYPE DE BULLETIN : Convention d'achat de propriété, d'actif ou d'actions
DATE DU BULLETIN : Le 7 avril 2014
Société du groupe 2 de TSX Croissance

Bourse de croissance TSX a accepté le dépôt de documents de Donner Metals Ltd. (la « société ») relativement à une convention d'option entre la société et Exploration Midland inc. (« Midland ») datée du 19 novembre 2013 pour la propriété aurifère Valmond, présentement détenue à 100 % par Midland. La propriété Valmond est constituée de 62 claims couvrant une superficie d'environ 35 kilomètres carrés. Cette propriété est située à environ 50 kilomètres à l'ouest de la ville de Matagami, dans la région de l'Abitibi au Québec.

Dans le cadre de cette convention d'option, Donner peut acquérir 50 % de l'intérêt de Midland sur une période de quatre ans en considération de paiements en espèces totalisant 250 000 $ (20 000 $ à la signature de la convention, 50 000 $ d'ici le 19 novembre 2014, 50 000 $ d'ici le 19 novembre 2015, 60 000 $ d'ici le 19 novembre 2016 et 70 000 $ d'ici le 19 novembre 2017) et des dépenses d'exploration totalisant 2 500 000 $ ($300,000 d'ici le 19 novembre 2014, un total de 700 000 $ additionnels d'ici le 19 novembre 2015, un total de 800 000 $ additionnels d'ici le 19 novembre 2016 et un total de 700 000 $ additionnels d'ici le 19 novembre 2017).

Pour de plus amples renseignements, veuillez vous référer au communiqué de presse de la société daté du 10 décembre 2013.

_____________________________________

EVERTON RESOURCES INC. ("EVR")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: April 7, 2014
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing the documentation with respect to a Non-Brokered Private Placement:

Number of Shares:                          

5,000,000 flow-through common shares



Purchase Price:                              

$0.20 per flow-through common share



Number of placees:                         

3 placees

The Company has confirmed the closing of the above-mentioned Private Placement pursuant to a news release dated March 7, 2014.

RESSOURCES EVERTON INC. (« EVR »)
TYPE DE BULLETIN : Placement privé sans l'entremise d'un courtier
DATE DU BULLETIN : Le 7 avril 2014
Société du groupe 2 de TSX Croissance

Bourse de croissance TSX a accepté le dépôt de la documentation en vertu d'un placement privé sans l'entremise d'un courtier :

Nombre d'actions :                          

5 000 000 d'actions ordinaires accréditives


Prix :                                             

0,20 $ par action ordinaire accréditive


Nombre de souscripteurs :               

3 souscripteurs


La société a confirmé la clôture du placement privé précité en vertu d'un communiqué de presse daté du 7 mars 2014.

______________________________________

EVERTON RESOURCES INC. ("EVR")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: April 7, 2014
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing the documentation with respect to a Non-Brokered Private Placement:

Number of Shares:                          

1,895,000 common shares





Purchase Price:                              

$0.20 per common share





Warrants:                                       

1,895,000 warrants to purchase 1,895,000 common shares



Warrant Exercise Price:                  

$0.35 for a period of 24 months following the closing of the Private Placement



Number of placees:                         

6 placees



Insider / Pro Group Participation:




Insider=Y /                                   

Number

Name                                             

Pro Group=P                               

of Shares

André Audet                                   

Y                                                  

600,000

Steven Mintz                                   

Y                                                  

165,000



Finders:                                         

PowerOne Capital Markets Limited and Euro Pacific Canada Inc.



Finders' Fee:                                  

An aggregate of $26,530 in cash and 151,600 non-transferable finder's warrants to purchase 151,600 units at a price of $0.20 per unit until March 6, 2016.  Each unit consists of one common share and one warrant to purchase one common share at a price of $0.35 until March 6, 2016.



The Company has confirmed the closing of the above-mentioned Private Placement pursuant to a news release dated March 7, 2014.

RESSOURCES EVERTON INC. (« EVR »)
TYPE DE BULLETIN : Placement privé sans l'entremise d'un courtier
DATE DU BULLETIN : Le 7 avril 2014
Société du groupe 2 de TSX Croissance

Bourse de croissance TSX a accepté le dépôt de la documentation en vertu d'un placement privé sans l'entremise d'un courtier :

Nombre d'actions :                          

1 895 000 actions ordinaires





Prix :                                             

0,20 $ par action ordinaire



Bons de souscription :                     

1 895 000 bons de souscription permettant de souscrire à 1 895 000 actions ordinaires



Prix d'exercice des bons :               

$0,35 pendant une période de 24 mois suivant la clôture du placement privé.



Nombre de souscripteurs :               

6 souscripteurs




Initié = Y /                                             

Nombre

Nom                                             

Groupe Pro = P                                    

d'actions







André Audet                                   

Y                                                            

600 000

Steven Mintz                                   

Y                                                            

165 000



Intermédiaires :                               

PowerOne Capital Markets Limited et Euro Pacific Canada Inc.



Honoraire d'intermédiation :              

Un total de 26 530 $ en espèces et 151 600 bons de souscription non-transférables permettant de souscrire 151 600 unités au prix de 0,20 $ l'action jusqu'au 6 mars 2016. Chaque unité inclut une action ordinaire et un bon de souscription permettant de souscrire une action ordinaire au prix de 0,35 $ jusqu'au 6 mars 2016.



La société a confirmé la clôture du placement privé précité en vertu d'un communiqué de presse daté du 7 mars 2014.

____________________________________

FOCUS VENTURES LTD. ("FCV")
BULLETIN TYPE:  Private Placement-Non-Brokered
BULLETIN DATE:  April 7, 2014
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced March 11, 2014 and March 14, 2014:

Number of Shares:                    

5,700,000 shares



Purchase Price:                        

$0.22 per share



Warrants:                                 

2,850,000 share purchase warrants to purchase 2,850,000 shares



Warrant Exercise Price:            

$0.265 for a one year period



Number of Placees:                   

68 placees



Insider / Pro Group Participation:


Insider=Y /


Name                                                              

ProGroup=P                                  

# of Shares

Ralph Rushton                                                  

Y                                                           

45,916

Ursula Cass & David Cass                                 

Y                                                           

36,364

Aggregate Pro Group Involvement

[7 placees]                                                       

P                                                         

717,730



Finders' Fees:           

- Haywood Securities Inc. receives $308 and 21,000 units with the same terms as the above private placement, and 22,400 non-transferable warrants, each exercisable at a price of $0.265 per share for a one year period.

 - Canaccord Genuity Corp. receives $26,250.01 and 119,318 non-transferable warrants, each exercisable at a price of $0.265 per share for a one year period.

- Leede Financial Markets Inc. receives $7,315 and 33,250 non-transferable warrants, each exercisable at a price of $0.265 per share for a one year period.

- Mackie Research Capital Corporation receives $1,050 and 4,773 non-transferable warrants, each exercisable at a price of $0.265 per share for a one year period.



Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. [Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.]

________________________________________

GEOMEGA RESOURCES INC. ("GMA")
BULLETIN TYPE: Private Placement-Brokered
BULLETIN DATE: April 7, 2014
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing the documentation with respect to a Brokered Private Placement announced by press release dated February 28, 2014:

Number of Shares:                    

1,450,000 flow-through common shares


Purchase Price:                        

$0.70 per flow-through common share


Number of Placees:                   

16 placees


Broker's compensation:             

Industrial Alliance Securities Inc. received $65,975 cash and 72,500 brokers' warrants to purchase 72,500 common shares at $0.60 for 18 months


The Company has confirmed the closing of the above-mentioned Private Placement by way of press release dated March 19, 2014.

RESSOURCES GEOMEGA INC. (« GMA »)
TYPE DE BULLETIN : Placement privé par l'entremise d'un courtier
DATE DU BULLETIN : Le 7 avril 2014
Société du groupe 2 de TSX Croissance

Bourse de croissance TSX a accepté le dépôt de la documentation en vertu d'un placement privé par l'entremise d'un courtier annoncé par communiqué de presse daté du 28 février 2014 :

Nombre d'actions :                    

1 450 000 actions ordinaires accréditives


Prix :                                       

0,70 $ par action ordinaire accréditive


Nombre de souscripteurs :         

16 souscripteurs


Rémunération de l'agent :          

Industrielle Alliance Valeurs Mobilières Inc. a reçu 65 975 $ en espèces ainsi que 72 500 bons de souscription de l'agent permettant de souscrire à 72 500 actions ordinaires à 0,60 $ pendant 18 mois


La société a confirmé la clôture du placement privé mentionné ci-dessus par communiqué de presse émis le 19 mars 2014.

______________________________________________

GEOMEGA RESOURCES INC. ("GMA")
BULLETIN TYPE: Private Placement-Brokered
BULLETIN DATE: April 7, 2014
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing the documentation with respect to a Brokered Private Placement announced by press release dated February 28, 2014:

Number of Shares:                    

2,037,333 common shares



Purchase Price:                        

$0.60 per common share



Warrants:                                 

1,018,667 warrants to purchase 1,018,667 common shares



Warrant exercise price:             

$0.90 for a period of 18 months following closing



Number of Placees:                   

32 placees



Insider / Pro Group Participation:




Insider = Y /                                             

Number

Name                                        

Pro Group = P                                        

of Shares






Simon Britt                                   

Y                                                            

17,250



Broker's compensation:             

Industrial Alliance Securities Inc. received $79,456 cash and 101,867 broker's warrants to purchase 101,867 common shares at $0.60 for 18 months.



The Company has confirmed the closing of the above-mentioned Private Placement by way of press release dated March 19, 2014.

RESSOURCES GEOMEGA INC. (« GMA »)
TYPE DE BULLETIN : Placement privé par l'entremise d'un courtier
DATE DU BULLETIN : Le 7 avril 2014
Société du groupe 2 de TSX Croissance

Bourse de croissance TSX a accepté le dépôt de la documentation en vertu d'un placement privé par l'entremise d'un courtier annoncé par communiqué de presse daté du 28 février 2014 :

Nombre d'actions :                    

2 037 333 actions ordinaires



Prix :                                       

0,60 $ par action ordinaire



Bons de souscription :               

1 018 667 bons de souscription permettant de souscrire à 1 018 667 actions ordinaires



Prix d'exercice des bons :         

0,90 $ pour une période de 18 mois suivant la clôture



Nombre de souscripteurs :         

32 souscripteurs



Participation initié / Groupe Pro :


Initié = Y /                                             

Nombre

Nom                                         

Groupe Pro = P                                   

d'actions






Simon Britt                                   

Y                                                       

17 250



Rémunération de l'agent :          

Industrielle Alliance Valeurs Mobilières Inc. a reçu 79 456 $ en espèces ainsi que 101 867 bons de souscription de l'agent permettant de souscrire à 101 867 actions ordinaires à 0,60 $ pendant 18 mois



La société a confirmé la clôture du placement privé mentionné ci-dessus par communiqué de presse émis le 19 mars 2014.

______________________________________________

GLEN EAGLE RESOURCES INC. ("GER")
BULLETIN TYPE: Private Placement-Non-Brokered, Convertible Debentures
BULLETIN DATE: April 7, 2014
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing the documentation with respect to a Non-Brokered Private Placement by way of a Convertible Unsecured Promissory Notes (the "Notes") as announced on January 17, 2014.

Notes:                                      

$150,000


Conversion Price:                      

Convertible into Common shares at $0.50 per share until maturity. In the event of default to reimburse the Notes and interest thereon upon maturity, each holder of Notes will have the option to convert its Notes in shares based on the higher of: a) Market Price (as defined in the Policy 1.1 of the Exchange); and b) the weighted average market price of the shares of the Company for the last 10 trading days preceding the maturity date, subject to regulatory approval.


Maturity date:                           

24 months from the date of issuance


Interest Rate:                            

20% per annum


Number of Placees:                   

1 placee


The Company has confirmed the closing of the above-mentioned Private Placement in news release dated March 3, 2014.

RESSOURCES GLEN EAGLE INC. (« GER »)
TYPE DE BULLETIN : Placement privé sans l'entremise d'un courtier, Débenture(s) convertible(s)
DATE DU BULLETIN : Le 7 avril 2014
Société du groupe 2 de TSX Croissance

Bourse de croissance TSX a accepté le dépôt de la documentation en vertu d'un placement privé sans l'entremise d'un courtier par voie de billets promissoires convertibles non-garantis (les « billets »), tel qu'annoncé le 17 janvier 2014 :

Billets :                                    

150 000 $


Prix de conversion :                   

Convertible en actions ordinaires au prix de 0,50 $ l'action jusqu'à l'échéance. Dans l'hypothèse où la Société fait défaut de rembourser les billets et l'intérêt sur ceux-ci à leur échéance, chaque détenteur de billets pourra convertir ses billets en actions au plus élevé du: a) cours du marché (tel que défini à la Politique 1.1 de la Bourse); et b) le cours moyen pondéré des actions de la Société pour les dix derniers jours de bourse précédant la date d'échéance, sous réserve de l'approbation des autorités réglementaires.



Date d'échéance :                     

24 mois de la date d'émission


Taux d'intérêt :                          

20 % par année


Nombre de souscripteurs :         

1 souscripteur


La société a confirmé la clôture du placement privé précité par voie de communiqué de presse daté du 3 mars 2014.

______________________________________

GREEN SWAN CAPITAL CORP. ("GSW")
BULLETIN TYPE:  Private Placement-Non-Brokered
BULLETIN DATE:  April 7, 2014
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced March 26, 2014:

Number of Shares:                    

4,300,000 shares


Purchase Price:                        

$0.05 per share


Warrants:                                 

4,300,000 share purchase warrants to purchase 4,300,000 shares


Warrant Exercise Price:            

$0.075 for a one year period


Number of Placees:                   

18 placees


Finder's Fee:                            

$11,200, plus 224,000 broker warrants (each consisting of one share and one warrant at the same terms as above) exercisable at a price of $0.075 for a period of one year, payable to Fin-XO Securities Inc.


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). Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.

________________________________________

KAMINAK GOLD CORPORATION ("KAM")
BULLETIN TYPE:  Private Placement-Brokered
BULLETIN DATE:  April 7, 2014
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation with respect to a Brokered Private Placement announced March 10, 2014:

Number of Shares:                    

14,025,400 shares



Purchase Price:                        

$0.82 per share



Warrants:                                 

7,012,700 share purchase warrants to purchase 7,012,700 shares



Warrant Exercise Price:            

$1.20 for a one year period



Number of Placees:                   

121 placees



Insider / Pro Group Participation:


Insider=Y /


Name                                                              

ProGroup=P                                  

# of Shares

Aggregate Pro Group Involvement

[7 placees]                                                      

P                                                         

875,000



Agent's Fee:                             

$345,024.84 payable to Cormark Securities Inc.

$138,009.94 payable to BMO Nesbitt Burns Inc.

$103,507.45 payable to Raymond James Ltd.

$69,004.97 payable to RBC Capital Markets

$34,502.48 payable to Canaccord Genuity Corp.



Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly.  Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.

________________________________________

NEW DESTINY MINING CORP. ("NED")
BULLETIN TYPE:  Private Placement-Non-Brokered
BULLETIN DATE:  April 7, 2014
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation with respect to the First Tranche of a Non-Brokered Private Placement announced February 26, 2014:

Number of Shares:                    

4,248,000 shares



Purchase Price:                        

$0.05 per share



Warrants:                                 

4,248,000 share purchase warrants to purchase 4,248,000 shares



Warrant Exercise Price:            

$0.10 for a one year period



Number of Placees:                   

11 placees



Insider / Pro Group Participation:


 Insider=Y /


Name                                                 

 ProGroup=P                         

 # of Shares



Benaterra Communications Inc.



(Robert Birmingham)                             

 Y                                          

1,000,000



Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. [Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.]

________________________________________

PENNINE PETROLEUM CORPORATION ("PNN")
BULLETIN TYPE:  Property-Asset or Share Purchase Agreement
BULLETIN DATE:  April 7, 2014
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation pursuant to a General Conveyance Agreement dated March 31, 2014 ( the "Agreement") between the Company and a private arms' length company.  As per the terms of the Agreement, the Company will acquire 10.5 sections of Petroleum and Natural Gas rights in the Youngstown area of Alberta.  In consideration, the Company will issue 10,000,000 common shares at a price of $0.05 per share and 10,000,000 common share purchase warrants.  Each warrant is exercisable at a price of $0.05 per share for a period of forty months.

________________________________________

PRD ENERGY INC. ("PRD")
BULLETIN TYPE:  Private Placement-Non-Brokered
BULLETIN DATE:  April 7, 2014
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced March 24, 2014 and closed March 27, 2014:

Number of Shares:                    

1,850,000 shares



Purchase Price:                        

$1.00 per share



Warrants:                                 

None



Number of Placees:                   

6 placees



Insider / Pro Group Participation:





Insider=Y /


Name                                      

ProGroup=P /                                                  

# of Shares

Michael G. Greenwood              

Y                                                                       

1,500,000

Mark Hornett                            

Y                                                                           

50,000

Grant Fagerheim                       

Y                                                                         

100,000

Daryl H. Gilbert                         

Y                                                                         

100,000

James T. McCoy                       

Y                                                                           

50,000

Kelsey Clark                             

Y                                                                           

50,000



Finder's Fee:                            

None



                                        ________________________________________

RELIANCE RESOURCES LIMITED ("RI")
BULLETIN TYPE:  Halt
BULLETIN DATE:  April 7, 2014
TSX Venture Tier 2 Company

Effective at 5:00 a.m., PST, April 7, 2014, 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.

________________________________________

RELIANCE RESOURCES LIMITED. ("RI")
BULLETIN TYPE:  Remain Halted
BULLETIN DATE:  April 7, 2014
TSX Venture Tier 2 Company

Further to the TSX Venture Exchange ('TSXV') Bulletin dated April 7, 2014, effective at 6:50 a.m., April 7, 2014, trading in the shares of the Company will remain halted pending receipt and review of acceptable documentation regarding the Fundamental Acquisition pursuant to TSXV Listings Policy 5.6(d) of Exchange Policy 5.3.  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.

________________________________________

SAINT JEAN CARBON INC. ("SJL")
BULLETIN TYPE:  Private Placement-Non-Brokered
BULLETIN DATE:  April 7, 2014
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced January 16, 2014 and closed March 20, 2014:

Number of Securities:                

8,000,000 units ("Units")

Each Unit consists of one common share issued on a flow-through basis and one half of one common share purchase warrant


Purchase Price:                        

$0.05 per Unit


Warrants:                                 

4,000,000 share purchase warrants to purchase 4,000,000 shares


Warrant Exercise Price:            

$0.10 for up to 18 months from date of issuance


Number of Placees:                   

2 placees


Insider / Pro Group Participation:

None


Finder's Fee:                            

$32,000 cash and 160,000 non-transferrable warrants ("Finder Warrants") payable to Secutor Capital Management Corp.

160,000 Finder Warrants payable to Marquest Capital Markets


Each Finder Warrant is exercisable for one common share at an exercise price of $0.08 for up to 18 months from date of issuance.


                                                ________________________________________

SANTA FE METALS CORPORATION ("SFM")
BULLETIN TYPE:  Private Placement-Non-Brokered
BULLETIN DATE:  April 7, 2014
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation with respect to the first tranche of a Non-Brokered Private Placement announced January 24, 2014 and March 20, 2014:

Number of Shares:                    

1,550,000 flow through shares

3,660,000 non-flow through shares



Purchase Price:                        

$0.05 per share



Warrants:                                 

4,435,000 share purchase warrants to purchase 4,435,000 shares



Warrant Exercise Price:            

$0.10 for a two year period



Number of Placees:                   

12 placees



Insider / Pro Group Participation:


Insider=Y /


Name                                                              

ProGroup=P                                  

# of Shares

Drekar Capital Corp. (Douglas R. Brett)               

P                                                  

1,960,000 nft

Ian Smith                                                         

P                                                     

800,000 nft

Aggregate Pro Group Involvement

[2 placees]                                                       

P                                                      

500,000 f/t



Finders' Fees:                          

Raymond James Ltd. receives $7,800 and 156,000 non-transferable warrants, each exercisable at a price of $0.10 for two years.

Richardson GMP Ltd. receives $1,600 and 32,000 non-transferable warrants, each exercisable at a price of $0.10 for two years.



Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. [Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.]

________________________________________

SOLARVEST BIOENERGY INC. ("SVS")
BULLETIN TYPE:  Private Placement-Non-Brokered
BULLETIN DATE:  April 7, 2014
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced April 3, 2014:

Number of Shares:                    

1,506,665 shares



Purchase Price:                        

$0.30 per share



Warrants:                                 

753,332 share purchase warrants to purchase 753,332 shares



Warrant Exercise Price:            

$0.40 for an 18 month period.  The warrants have an acceleration clause such that should the common shares trade at a closing price greater than $0.60 per share for a period of 20 consecutive trading days at any time after 12 months from closing, then the Company may accelerate the expiry date of the warrants to the 20th day after notice is given by the Company.



Number of Placees:                   

6 placees



Insider / Pro Group Participation:


Insider=Y /


Name                                                              

ProGroup=P                                  

# of Shares

Gerri Greenham                                                

Y                                                         

200,000



Finder's Fee:                            

AlphaEdge Inc. (Lawrence Casse) receives $15,470 and 44,200 non-transferable warrants, each exercisable at a price of $0.50 per share for an 18 month period.



Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. [Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.]

________________________________________

SPECTRA7 MICROSYSTEMS INC. ("SEV") ("SEV.WT")
BULLETIN TYPE:  Prospectus-Unit Offering, New Listing-Warrants
BULLETIN DATE:  April 7, 2014
TSX Venture Tier 2 Company

Prospectus

Effective April 4, 2014 the Company's Short Form Prospectus (the "Prospectus) dated March 24, 2014 was filed with and accepted by TSX Venture Exchange (the "Exchange") The Prospectus was filed with and receipted by the British Columbia, Alberta, Saskatchewan, Manitoba, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland and Labrador and Ontario Securities Commissions on March 24, 2014, pursuant to the provisions of the respective Securities Acts.

TSX Venture Exchange Inc. has been advised that closing occurred on March 28, 2014 for gross proceeds of $7,000,000, on the following terms:

Agents:                                    

Canaccord Genuity Corp., Global Maxfin Capital Inc., Mackie Research Capital Corporation and PI Financial Corp.


Offering:                                   

23,333,333 units ("Units").  Each Unit consisting of one common share and one common share purchase warrant (no Units exercised to this date pursuant to the Agent's Over-Allotment Option. The Exchange will issue a supplemental bulletin if any exercise of the Over-Allotment Option occurs).


Unit Price:                                

$0.30 per Unit


Warrant Exercise Price/Term:    

Each whole warrant ("Warrant") entitles the holder to acquire one additional common share of the Company at a price of $0.45 for a period of one year.


Agents' Fee:                             

A cash fee of 6% of the gross proceeds plus 1,866,666 broker warrants ("Broker Warrants") pursuant to the agency agreement between the Company and the Agents has been paid to the Agents.  Each Broker's Warrant is exercisable into one Unit at a price of $0.30 for a period of one year.


Over-Allotment Option:              

The Agent may over-allot the shares in connection with this offering and the Company has granted to the Agent an option to arrange for the sale of up to an additional 15% of that number of Units sold pursuant to the offering, at any time up to 30 days after the closing of the offering. The above noted Agents' Fees are also applicable to the Over-Allotment Option.


New Listing of Warrants

Effective at the opening, Tuesday, April 8, 2014, the warrants of the Company will commence trading on TSX Venture Exchange.  The Company is classified as a 'Semiconductor and Other Electronic Component Manufacturing' company.

Corporate Jurisdiction:

Canada



Capitalization:                                               

25,199,999

warrants with no par value of which


23,333,333

are issued and outstanding



Transfer Agent:                                       

Olympia Trust Company

Trading Symbol:                                      

SEV.WT

CUSIP Number:                                      

84761T117



The Warrants were issued pursuant to a Prospectus offering of 23,333,333 units at $0.30 per Unit with 23,333,333 warrants.  Each Warrant entitles the holder to purchase one common share at a price of $0.30 per common share and will expire on March 28, 2015.

An additional 1,866,666 Broker Warrants were issued pursuant to the Company's Prospectus offering.  None of the Broker Warrants have been exercised.  Upon exercise of the Broker Warrants, the underlying warrants comprising the units shall be listed for trading.  See above for information regarding the Broker Warrants from the Offering.

________________________________________

SPUR VENTURES INC. ("SVU")
BULLETIN TYPE:  Halt
BULLETIN DATE:  April 7, 2014
TSX Venture Tier 2 Company

Effective at 5:00 a.m., PST, April 7, 2014, 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.

________________________________________

STEM 7 CAPITAL INC. ("CI")
BULLETIN TYPE:  Shares for Debt
BULLETIN DATE: April 7, 2014
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing the Company's proposal to issue 7,679,297 shares to settle outstanding debt for $383,964.85.

Number of Creditors:                 

12 Creditors








Insider=Y /         

Amount

Deemed Price

Creditor                                 

Progroup=P       

Owing

 per Share

 # of Shares





Dave McMillan                           

Y                       

$85428.41

$0.05

1,710,560

Sun Tzu Ventures Inc.





(Dave McMillan)                         

 Y                       

$91,000

$0.05

1,820,000

Kelsey Chin                               

 Y                     

$12,030

$0.05

240,600





For further information, please refer to the Company's news release dated January 31, 2014.

________________________________________

STRATEGIC OIL & GAS LTD. ("SOG")
BULLETIN TYPE:  Private Placement - Brokered
BULLETIN DATE:  April 7, 2014
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced on March 12, 2014 and closed March 31, 2014:

Number of Shares:                    

100,000,000 shares



Purchase Price:                        

$0.50 per share



Warrants:                                 

None



Number of Placees:                   

42 placees



Insider / Pro Group Participation:





Insider=Y /


Name                                                                             

ProGroup=P /                    

# of Shares

Bay Resource Partners LP                                               

Y                                       

16,972,500

GMT Exploration Company LLC                                        

Y                                         

3,000,000

Thomas E. Clagus                                                           

Y                                         

3,927,200

Bay II Resource Partners LP                                            

Y                                       

17,384,800

Bay Resource Partners Offshore Master Fund LP              

Y                                       

36,182,500

Libra Fund II (Luxembourg) Sar.                                       

Y                                       

16,000,000

Bay Resource Partners LP                                               

Y                                         

2,533,000

Reservoir Modelling and Management Ltd.                          

Y                                            

415,200

D. Richard Skeith                                                             

Y                                            

100,000

Barbara Joy                                                                     

Y                                              

60,000



Finder's Fee:                            

$481,745 cash to a syndicate of agents, including Macquarie Capital Markets Canada Ltd., Dundee Securities Ltd., Raymond James Ltd., National Bank Financial Inc., CIBC World Markets Inc., Paradigm Capital Inc., GMP Securities L.P., Primary Capital Inc. and PI Financial Corp.



________________________________________

TIREX RESOURCES LTD. ("TXX")
BULLETIN TYPE:  Private Placement-Non-Brokered
BULLETIN DATE:  April 7, 2014
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced March 3, 2014:

Number of Shares:                    

5,002,000 shares



Purchase Price:                        

$0.30 per share



Number of Placees:                   

34 placees



Insider / Pro Group Participation:


Insider=Y /


Name                                                              

ProGroup=P                                  

# of Shares

Bryan Slusarchuk                                             

Y                                                         

250,000

Shoni Bernard                                                   

Y                                                           

40,000

Aggregate Pro Group Involvement

[1 placee]                                                       

P                                                           

50,000



Finders' Fees:                          

$10,440 payable to Canaccord Genuity Corp.

$3,120 and 6,400 shares payable to Jordan Capital Markets Inc.

$1,200 payable to Jones Gable & Co. Ltd.

$360 payable to Wolverton Securities Ltd.

$2,400 payable to Deborah Trustham

$30,840 payable to Mario Vetro

86,400 common shares payable to General Research GmbH



Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly.

________________________________________

TITAN MEDICAL INC. ("TMD") ("TMD.WT") ("TMD.WT.A") ("TMD.WT.B") ("TMD.WT.C") ("TMD.WT.D")
BULLETIN TYPE:  Halt
BULLETIN DATE:  April 7, 2014
TSX Venture Tier 2 Company

Effective at 12:20 p.m., PST, April 7, 2014, 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.

________________________________________

NEX COMPANIES:

AFRASIA MINERAL FIELDS INC. ("AFS.H")
BULLETIN TYPE:  Remain Halted]
BULLETIN DATE:  April 7, 2014
NEX Company

Further to the TSX Venture Exchange ('TSXV') Bulletin dated April 2, 2014, effective at 11:07 a.m. April 7, 2014, trading in the shares of the Company will remain halted pending receipt and review of acceptable documentation regarding the Fundamental Acquisition pursuant to TSXV Listings Policy 5.8(d) of Exchange Policy 5.3.  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.

________________________________________

BI-OPTIC VENTURES INC. ("BOV.H")
BULLETIN TYPE:  Shares for Debt
BULLETIN DATE:  April 7, 2014
NEX Company

TSX Venture Exchange has accepted for filing the Company's proposal to issue 7,907,900 shares at a deemed price of $0.05 per share to settle outstanding debt for $395,395.00.

Number of Creditors:                 

7 Creditors







Insider / Pro Group Participation:









 Insider=Y /      

 Amount

 Deemed Price

Creditor                                     

 Progroup=P     

 Owing

per Share

 # of Shares





Myntek Management Services Inc.



  (Harry Chew / Ellen Chew)          

Y                          

$4,260.00

$0.05

85,200

Myntek Management



  Services Inc.                              

Y                        

$48,475.00

$0.05

969,500

Pacific Paragon Capital Group Ltd.



  (Harry Chew / Sonny Chew)        

Y                        

$96,075.00

$0.05

1,921,500

Pacific Paragon Capital



  Group Ltd.                                 

Y                        

$68,235.00

$0.05

1,364,700





The Company shall issue a news release when the shares are issued and the debt extinguished.

________________________________________

CASPIAN ENERGY INC. ("CKZ.H")
BULLETIN TYPE:  Shares for Services
BULLETIN DATE:  April 7, 2014
NEX Company

TSX Venture Exchange has accepted for filing, a Share Entitlement Agreement dated August 18, 2012 (and as amended on April 1, 2013) between the Company and Roger Nutt whereby up to 26,000,000 shares will be reserved for issuance and only be issued to Mr. Nutt upon the achievement of certain production targets in connection with the exploitation, development and completion of Aral Petroleum Capital LLP's eight wells located in the Republic of Kazakhstan.  The Company holds a 40% interest in Aral.  If all 26,000,000 shares are issued, Mr. Nutt may potentially become an Insider of the Company.

The Company shall issue a news release when the shares are issued.

________________________________________

VERAZ PETROLEUM LTD. ("VRZ.H")
BULLETIN TYPE:  Halt
BULLETIN DATE:  April 7, 2014
NEX Company

Effective at 5:00 a.m., PST, April 7, 2014, 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.

________________________________________

ZIPLOCAL INC. ("ZIP.H")
BULLETIN TYPE:  Resume Trading
BULLETIN DATE:  April 7, 2014
NEX Company

Further to TSX Venture Exchange Bulletin dated September 26, 2013, effective at the open of business on Tuesday, April 8, 2014, shares of the Company will resume trading, an announcement having been made by the Company pursuant to a news release dated April 4, 2014, whereby the Company's previously announced proposed private placement and change of business are no longer proceeding.

BULLETIN TYPE: Notice to Issuers
BULLETIN DATE: April 7, 2014

Re:       Discretionary Waivers of $0.05 Minimum Pricing Requirement

The policies of TSX Venture Exchange ("TSXV" or the "Exchange") include a requirement that the offering price for a financing involving the issuance of Listed Shares be not less than the applicable Discounted Market Price, subject to a minimum price per share of $0.05.  The Exchange considers this $0.05 minimum pricing requirement as fundamental to the integrity of our market as it helps mitigate the proliferation of Issuers with excessively dilutive or otherwise imbalanced share capital structures.  Recognizing, however, that this minimum pricing requirement may complicate the ability of an Issuer to conduct a financing, the Exchange maintains the discretion to waive the $0.05 minimum pricing requirement on a case by case basis.  The purpose of this Notice to Issuers is to provide Issuers with some guidance on the circumstances in which the Exchange will look more favourably upon an Issuer's request to waive the $0.05 minimum pricing requirement.

Capitalized terms not specifically defined in this bulletin shall have the meanings ascribed to them in Policy 1.1 – Interpretation of the TSXV Corporate Finance Manual.

Discretionary Waivers

In general, the Exchange is not amenable to waiving the $0.05 minimum pricing requirement.  The Exchange will, however, consider waiver requests on a case by case basis and there are currently specific circumstances where the Exchange will look more favourably upon a waiver request.  Such circumstances are described below.

Exchange staff will give due consideration to all waiver requests.  Waiver requests should be made in writing to the Exchange's Listed Issuer Services Department and, to the extent applicable, address the relevant criteria outlined below and also provide such other information as the Issuer may regard as pertinent to the Exchange's consideration of the Issuer's request.

1.         Rights Offering

At present, the Exchange will generally be amenable to waiving the $0.05 minimum pricing rule for a rights offering completed in accordance with Exchange Policy 4.5 – Rights Offerings.  This will permit the exercise price of the rights to be an amount that is less than $0.05 per share, subject to a minimum exercise price of $0.01 per share.

2.         Pending Share Consolidation

The Exchange acknowledges that compliance with the $0.05 minimum pricing requirement may necessitate that an Issuer trading at or below $0.05 complete a share consolidation prior to conducting a financing.  In situations where shareholder approval for a share consolidation is required, the timing involved with completing the share consolidation may hinder an Issuer's ability to complete a financing.  In order to help mitigate timing concerns associated with obtaining shareholder approval for a consolidation, the Exchange may be amenable to allowing an issuer to complete a financing at a price of below $0.05 per share prior to the completion of the consolidation in the following circumstances:

(a) 

Issuance of Shares – Completion of Future Share Consolidation is Certain:   Issuance of Shares – Completion of Future Share Consolidation is Certain:  The Exchange may be amenable to waiving the $0.05 minimum pricing requirement and permitting an Issuer to complete a financing involving the issuance of shares at a price of less than $0.05 (but at not less than a 25% discount to the last closing price of the Issuer's shares prior to the announcement of the financing) if the Issuer satisfies the Exchange that the completion of a share consolidation in a reasonable period of time following completion of the financing is certain and will be done at a ratio that will result in the financing price to effectively be not less than $0.05 per share on a post-consolidation basis.  To satisfy the Exchange in this regard, the Exchange will require the Issuer to:

(i)

obtain and provide to the Exchange as a condition to Exchange acceptance of the financing, written confirmation from shareholders holding not less than 50% (or such lesser amount as may be acceptable to the Exchange on a case by case basis) of the Issuer's issued and outstanding shares (as to be constituted post-financing) that they will vote in favour of the proposed share consolidation;

(ii)

undertake to the Exchange to seek shareholder approval for the share consolidation no later than the earlier of the Issuer's next annual general meeting and six months from the completion of the financing;



(iii)

undertake to the Exchange to give effect to the share consolidation in as expeditious a manner as is possible after receiving the requisite shareholder approval; and

(iv)

fully disclose to the public at the time of announcement of the financing and at the time of closing of the financing the Issuer's intent and commitment to complete the share consolidation.

This structure permits the Issuer to complete the financing prior to completion of the share consolidation and use the sub-$0.05 pre-consolidation share price as the basis for the offering price of the shares.

(b) 

Issuance of Special Warrants – Issuance of Underlying Shares is Conditional Upon Consolidation: Issuance of Special Warrants – Issuance of Underlying Shares is Conditional Upon Consolidation:  The Exchange may be amenable to waiving the $0.05 minimum pricing requirement and permitting an Issuer to complete a financing involving the issuance of special warrants (or similar non-debt securities) at a price of less than $0.05 (but at not less than a 25% discount to the last closing price of the Issuer's shares prior to the announcement of the financing) if the conversion of the special warrants into Listed Shares is conditional upon the completion of a share consolidation at a ratio that will result in the financing price to effectively be not less than $0.05 per share on a post-consolidation basis.

(c)

Issuance of Convertible Debentures – Conversion Conditional Upon Consolidation: Issuance of Convertible Debentures – Conversion Conditional Upon Consolidation:  The Exchange may be amenable to waiving the $0.05 minimum pricing requirement and permitting an Issuer to complete a financing involving the issuance of convertible debentures (or similar convertible debt securities) having a conversion price that is less than $0.05 (but not less than the last closing price of the Issuer's shares prior to the announcement of the financing) if the ability to convert is conditional upon the completion of a share consolidation and the corresponding post-consolidation adjustment to the conversion price results in it being not less than $0.05 in the first year of the term and not less than $0.10 thereafter.  This structure permits the Issuer to complete the financing prior to completion of the share consolidation and use the sub-$0.05 pre-consolidation share price as the basis for the conversion price of the security.

3.         Other Discretionary Waivers

The Exchange may be amenable to waiving the $0.05 minimum pricing requirement in circumstances other than those described above.  Any Issuer's request for such a waiver will be considered on a case by case basis with a view to the facts specific to the Issuer.  A waiver request satisfying all of the following criteria will be looked upon more favourably than one that doesn't:

(i)

To the extent an Issuer is able to rely upon the new "existing shareholder exemption" described in Multilateral CSA Notice 45-313 – Prospectus Exemption for Distributions to Existing Security Holders (published March 13, 2014) or an analogous exemption, the offering is made available to all of the Issuer's existing shareholders.



(ii) 

The Issuer is not currently listed on the NEX Board.


(iii)

Upon completion of the financing the Issuer will satisfy all applicable Tier 2 Continued Listing Requirements or will otherwise be considered by the Exchange to be suitable for Tier 2 status.



(iv) 

The proposed offering price is not less than the last closing price of the Issuer's shares prior to the announcement of the financing subject to a $0.01 minimum.  The proposed offering price is protected/reserved by way of a press release and not a Form 4A – Price Reservation Form. 



(v)

The financing involves the issuance of Listed Shares and not securities convertible into Listed Shares (such as convertible debentures) other than Warrants.  Any such Warrants, however, may not have an exercise price that is less than $0.05.


(vi)

The aggregate gross proceeds of the financing does not exceed the greater of $500,000 and an amount that is equal to the offering price multiplied by the number of pre-financing issued and outstanding shares of the Issuer.


(vii)

The proceeds of the financing will primarily be used to maintain or preserve the Issuer's existing operations, activities and assets (i.e. the proceeds will not be used to fund the purchase or pursuit of new business operations or activities) and will not primarily be used to pay management fees.


(viii)

The Issuer will fully disclose to the public at the time of announcement of the financing and at the time of closing of the financing the proposed use of proceeds of the financing including any proposed payments to Related Parties of the Issuer.

Availability of Discretionary Waivers Is Not Indefinite

It should be noted that the Exchange is currently open to considering discretionary waivers of the $0.05 minimum pricing requirement in the circumstances described above.  The Exchange may cease to be amenable to considering and granting such waivers at any time.  As such, prior to making a waiver application, an Issuer should contact one of the Exchange representatives listed below to confirm that the Exchange remains open to considering such waivers.

If you have any questions about this bulletin, please contact:

Zafar Khan – Policy Counsel, 604-602-6982
Louis Doyle – Vice-President, 514-788-2407
Robert Fong – Director, 403-218-2822
Tim Babcock – Director, 416-365-2202
Robert Kang – Director, 604-643-6577

TYPE DE BULLETIN : Avis aux émetteurs
DATE DU BULLETIN : Le 7 avril 2014

Objet : 

Dispenses discrétionnaires de l'application de l'exigence relative à la fixation du prix minimal de 0,05 $

Aux termes des politiques de la Bourse de croissance TSX (la « Bourse »), le prix d'offre pour un financement comportant l'émission d'actions inscrites ne doit pas être inférieur au cours escompté applicable, sous réserve du prix minimal de 0,05 $ par action. La Bourse estime que l'exigence relative à la fixation du prix minimal de 0,05 $ est essentielle pour l'intégrité de son marché car elle permet de restreindre le nombre d'émetteurs dont la structure du capital est excessivement dilutive ou autrement déséquilibrée. Toutefois, puisqu'elle reconnaît que cette exigence peut limiter la capacité d'un émetteur d'effectuer un financement, la Bourse se réserve le droit de renoncer, au cas par cas, à l'application de l'exigence relative à la fixation du prix minimal de 0,05 $. L'objet du présent avis consiste à fournir aux émetteurs des indications sur les cas dans lesquels la Bourse sera plus encline à accéder à la demande d'un émetteur d'être dispensé de l'exigence relative à la fixation du prix minimal de 0,05 $.

Les termes clés utilisés dans le présent bulletin sans y être définis ont le sens qui leur est attribué dans la Politique 1.1 – Interprétation du Guide du financement des sociétés de la Bourse de croissance TSX.

Dispenses discrétionnaires

En règle générale, la Bourse n'est pas disposée à renoncer à l'application de l'exigence relative à la fixation du prix minimal de 0,05 $. Toutefois, elle étudiera au cas par cas les demandes de dispense, et elle sera plus encline à accéder à la demande de dispense d'un émetteur dans les cas énoncés ci‑dessous.

Le personnel de la Bourse examinera dûment toutes les demandes de dispense. Celles-ci doivent être formulées par écrit à l'attention des Services aux émetteurs inscrits de la Bourse et doivent, s'il y a lieu, répondre aux critères liés à la situation pertinente énoncée ci‑dessous et comporter tous les autres renseignements que l'émetteur juge utiles aux fins de l'étude par la Bourse de sa demande de dispense.

1.         Placement de droits

À l'heure actuelle, la Bourse est généralement disposée à renoncer à l'application de l'exigence relative à la fixation du prix minimal de 0,05 $ dans le cadre d'un placement de droits réalisé conformément aux dispositions de la Politique 4.5 – Placements de droits de la Bourse. Ainsi, le prix d'exercice des droits peut être inférieur à 0,05 $ par action, sous réserve d'un prix d'exercice minimal de 0,01 $ par action.

2.         Regroupement d'actions en cours

La Bourse reconnaît qu'afin de respecter l'exigence relative à la fixation du prix minimal de 0,05 $, un émetteur dont le titre se négocie à un prix égal ou inférieur à 0,05 $ pourrait devoir regrouper ses actions avant de réaliser un financement. Le délai nécessaire pour réaliser le regroupement d'actions lorsque celui‑ci doit être approuvé par les actionnaires peut nuire à la capacité d'un émetteur de réaliser un financement. Afin d'apaiser les préoccupations concernant le délai d'obtention de l'approbation des actionnaires à l'égard du regroupement, la Bourse peut être disposée à permettre à un émetteur de réaliser un financement à un prix inférieur à 0,05 $ par action avant de procéder au regroupement dans les cas suivants :

(d) 

Émission d'actions – La réalisation du regroupement d'actions futur est certaine : La Bourse peut être disposée à renoncer à l'application de l'exigence relative à la fixation du prix minimal de 0,05 $ et permettre à un émetteur de réaliser un financement comportant l'émission d'actions à un prix inférieur à 0,05 $ (mais non inférieur à 75 % du cours de clôture des actions de l'émetteur précédant l'annonce du financement) si l'émetteur démontre, à la satisfaction de la Bourse, que la réalisation du regroupement d'actions dans un délai raisonnable suivant la réalisation du financement est certaine et que le regroupement sera effectué selon un ratio en conséquence duquel le prix d'offre ne sera pas inférieur à 0,05 $ par action après le regroupement. Pour être convaincue de ce qui précède, la Bourse oblige l'émetteur à faire ce qui suit :



(v)   

à titre de condition de l'acceptation du financement par la Bourse, obtenir et fournir à la Bourse la confirmation écrite des actionnaires détenant au moins 50 % (ou un pourcentage inférieur que la Bourse peut juger acceptable selon le cas) des actions émises et en circulation de l'émetteur (après le financement) qu'ils voteront en faveur du projet de regroupement d'actions;


(vi)   

s'engager auprès de la Bourse à obtenir l'approbation des actionnaires à l'égard du regroupement d'actions au plus tard à la prochaine assemblée générale annuelle de l'émetteur ou, si elle est antérieure, à la fin de la période de six mois suivant la réalisation du financement;



(vii)  

s'engager auprès de la Bourse à donner effet au regroupement d'actions le plus rapidement possible après l'obtention de l'approbation des actionnaires requise;



(viii)  

révéler en détail au public, au moment de l'annonce et au moment de la clôture du financement, son intention de réaliser le regroupement d'actions et son engagement à cet égard.

Cette façon de faire permet à l'émetteur de réaliser le financement avant de procéder au regroupement d'actions et de fonder le prix d'offre des actions sur le cours de l'action inférieur à 0,05 $ en vigueur avant le regroupement.


(e) 

Émission de bons de souscription spéciaux – L'émission d'actions sous-jacentes est subordonnée au regroupement d'actions : La Bourse peut être disposée à renoncer à l'application de l'exigence relative à la fixation du prix minimal de 0,05 $ et permettre à un émetteur de réaliser un financement comportant l'émission de bons de souscription spéciaux (ou de titres autres que de créance similaires) à un prix inférieur à 0,05 $ (mais non inférieur à 75 % du cours de clôture des actions de l'émetteur précédant l'annonce du financement) si la conversion des bons de souscription spéciaux en actions inscrites est subordonnée à la réalisation d'un regroupement d'actions selon un ratio en conséquence duquel le prix d'offre n'est pas inférieur à 0,05 $ par action après le regroupement.


(f)  

Émission de débentures convertibles – La conversion est subordonnée au regroupement d'actions : La Bourse peut être disposée à renoncer à l'application de l'exigence relative à la fixation du prix minimal de 0,05 $ et permettre à un émetteur de réaliser un financement comportant l'émission de débentures convertibles (ou de titres de créance convertibles similaires) assorties d'un prix de conversion inférieur à 0,05 $ (mais non inférieur au cours de clôture des actions de l'émetteur précédant l'annonce du financement) si la conversion est subordonnée à la réalisation d'un regroupement d'actions et que le prix de conversion rajusté en conséquence du regroupement n'est pas inférieur à 0,05 $ pour la première année de la durée et n'est pas inférieur à 0,10 $ par la suite. Cette façon de faire permet à l'émetteur de réaliser le financement avant de procéder au regroupement d'actions et de fonder le prix de conversion du titre sur le cours de l'action inférieur à 0,05 $ en vigueur avant le regroupement.

3.         Autres dispenses discrétionnaires

La Bourse peut être disposée à renoncer à l'application de l'exigence relative à la fixation du prix minimal de 0,05 $ dans d'autres cas que ceux mentionnés précédemment. Les demandes de dispense semblables des émetteurs seront étudiées au cas par cas, compte tenu de la situation de chaque émetteur. Une demande de dispense qui répond à tous les critères suivants sera traitée plus favorablement qu'une demande qui ne répond qu'à certains d'entre eux :

(ix)

Si l'émetteur peut se prévaloir de la nouvelle « dispense pour placement auprès de porteurs existants » décrite dans l'Avis multilatéral 45-313 des ACVM – Dispense de prospectus pour placement de titres auprès de porteurs existants (publié le 13 mars 2014) ou d'une dispense similaire, le placement est ouvert à tous les actionnaires existants de l'émetteur.


*

L'émetteur n'est pas actuellement inscrit au marché NEX.


(xi)

Dès la réalisation du financement, l'émetteur satisfait à toutes les exigences relatives au maintien de l'inscription du Groupe 2, ou est par ailleurs considéré par la Bourse comme admissible au Groupe 2.


(xii) 

Le prix d'offre proposé n'est pas inférieur au cours de clôture des actions de l'émetteur précédant l'annonce du financement, sous réserve d'un minimum de 0,01 $. Le prix d'offre proposé est protégé/réservé au moyen de la publication d'un communiqué et non du Formulaire 4A – Formulaire de réservation du prix.


(xiii)

Le financement comporte l'émission d'actions inscrites et non de titres convertibles en actions inscrites (comme des débentures convertibles) autres que des bons de souscription. S'il s'agit de bons de souscription, le prix d'exercice ne doit pas être inférieur à 0,05 $.


(xiv) 

Le produit brut global du financement ne dépasse pas 500 000 $ ou, s'il est supérieur, le montant du prix d'offre multiplié par le nombre d'actions de l'émetteur émises et en circulation avant le financement.


(xv) 

Le produit du financement est affecté principalement au maintien ou à la préservation des opérations, des activités et des actifs existants de l'émetteur (et non au financement de l'achat ou de la recherche de nouvelles opérations ou activités commerciales) et n'est pas affecté principalement au paiement de frais de gestion.


(xvi)

L'émetteur révèle en détail au public, au moment de l'annonce et au moment de la clôture du financement, l'emploi proposé du produit du financement, y compris tout paiement projeté à des personnes apparentées à l'émetteur.

L'octroi de dispenses n'est pas permanent

Soulignons que la Bourse est actuellement disposée à étudier des demandes de dispense discrétionnaire de l'exigence relative à la fixation du prix minimal de 0,05 $ dans les cas mentionnés précédemment, mais qu'elle peut cesser à tout moment d'étudier de telles demandes et d'accorder des dispenses. Ainsi, avant de présenter une demande de dispense, l'émetteur doit communiquer avec l'un des représentants de la Bourse dont les coordonnées figurent ci‑après pour vérifier si la Bourse accorde toujours ces dispenses.

Pour toute question concernant le présent bulletin, veuillez communiquer avec l'une des personnes suivantes :

Zafar Khan – conseiller juridique, Politiques, 604 602-6982
Louis Doyle – vice-président, 514 788-2407
Robert Fong – directeur, 403 218-2822
Tim Babcock – directeur, 416 365-2202
Robert Kang – directeur, 604 643-6577

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