30 Receipt of application & exchange review Following receipt of an original listing application, the Exchange will notify you within five business days whether you’ve submitted all required documentation for an assessment in a form acceptable to the Exchange. You will have 75 days to submit any outstanding documentation. If you fail to submit any outstanding documentation within the 75 day period, it will result in your application being considered withdrawn. Any further consideration will require resubmission and the payment of an additional application fee. Once all documentation has been submitted, the Exchange will use its best efforts to assess your application and render a decision as soon as possible within 60 days from the date of receipt of all documentation. The Exchange will also use its best efforts to accommodate your schedule for the filing of a prospectus and the closing of an offering of securities. At any time during the assessment, however, the Exchange may require additional information or documentation, which may extend the assessment period. When TSX is satisfied that the application documents are in order, the application is submitted to the Exchange’s Listings Committee, which is comprised of members of Listed Issuer Services. The Listings Committee may ask for additional information in order to clarify certain areas of the application. Listing on the Exchange is considered to be a privilege, even if your company appears to meet the prescribed original listing requirements. Following the completion of the assessment, the Exchange will either: Grant conditional approval — your listing application is conditionally approved, subject to meeting specific conditions within a 90 day period; or Defer — your listing application is deferred pending resolution of specified issues within a 90 day period. Failure to address these issues to the satisfaction of the Exchange within the 90 day period will result in your application being declined; or Decline — your listing application is declined. At least six months must pass before your company becomes eligible for reconsideration. Conditional approval of your application based on a preliminary prospectus will be subject to the following conditions: a. There are no material changes in the final prospectus to the information disclosed in the preliminary prospectus. b. All other required documentation, including evidence of satisfactory distribution of the securities, will be filed with the Exchange within 90 days, or such other date as the Exchange may stipulate. Moving from conditional approval to approval The following documents must be filed after your company has been conditionally approved for listing on TSX, together with any additional documentation specified in the conditional approval letter. TSX listing application, completed in final form. The certificate and declaration accompanying the Listing Application must be signed by your: i) Chief Executive Officer (or President) ; and ii) Corporate Secretary or Chief Financial Officer, or, if they are not available, by another duly authorized senior officer. The required statutory declarations must be made before a Notary Public. If the declarations are made outside of Canada, appropriate adjustments should be made. A letter from the trust company which acts as transfer agent and registrar in the City of Toronto stating that it has been appointed as transfer agent and registrar for your company and is in a position to make transfers and to make prompt delivery of security certificates. The letter must state what fee, if any, is charged for transfers.
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