61 TSX Venture Exchange Listing Requirements for Industrial, Technology, Life Sciences and Real Estate Companies INITIAL LISTING REQUIREMENTS TSXV TIER 1 INDUSTRIAL TECHNOLOGY LIFE SCIENCES TSXV TIER 2 INDUSTRIAL TECHNOLOGY LIFE SCIENCES TSXV TIER 1 REAL ESTATE OR INVESTMENT TSXV TIER 2 REAL ESTATE OR INVESTMENT Net Tangible Assets, Revenue or Arm’s Length Financing (as applicable) $5,000,000 net tangible assets or $5,000,000 revenue. If no revenue, two-year management plan demonstrating reasonable likelihood of revenue within 24 months. $750,000 net tangible assets or $500,000 in revenue or $2,000,000 Arm’s Length Financing. If no revenue, two-year management plan demonstrating reasonable likelihood of revenue within 24 months. Real Estate: $5,000,000 net tangible assets. Investment: $10,000,000 net tangible assets. $2,000,000 net tangible assets or $3,000,000 Arm’s Length Financing. Adequate Working Capital and Capital Structure Adequate working capital and financial resources to carry out stated work program or execute business plan for 18 months following listing; $200,000 unallocated funds. Adequate working capital and financial resources to carry out stated work program or execute business plan for 12 months following listing; $100,000 unallocated funds. Adequate working capital and financial resources to carry out stated work program or execute business plan for 18 months following listing; $200,000 unallocated funds. Adequate working capital and financial resources to carry out stated work program or execute business plan for 12 months following listing; $100,000 unallocated funds. Property Issuer has significant interest in business or primary asset used to carry on business. Real Estate: Issuer has significant interest in real property. Investment: No requirement. Prior Expenditures and Work Program History of operations or validation of business. Real Estate: No requirement. Investment: Disclosed investment policy. Real Estate: No requirement. Investment: (i) disclosed investment policy and (ii) 50% of available funds must be allocated to at least two specific investments. Management and Board of Directors Management, including board of directors, should have adequate experience and technical expertise relevant to the company’s business and industry as well as adequate public company experience in Canada or a similar jurisdiction. Companies are required to have at least two independent directors. Distribution, Market Capitalization and Public Float Public float of 1,000,000 shares; 250 Public Shareholders each holding a Board Lot and having no Resale Restrictions on their shares; 20% of issued and outstanding shares in the hands of Public Shareholders. Public float of 500,000 shares; 200 Public Shareholders each holding a Board Lot and having no Resale Restrictions on their shares; 20% of issued and outstanding shares in the hands of Public Shareholders. Public float of 1,000,000 shares; 250 Public Shareholders each holding a Board Lot and having no Resale Restrictions on their shares; 20% of issued and outstanding shares in the hands of Public Shareholders. Public float of 500,000 shares; 200 Public Shareholders each holding a Board Lot and having no Resale Restrictions on their shares; 20% of issued and outstanding shares in the hands of Public Shareholders. Sponsorship Sponsor Report may be required. The foregoing is a summary of the applicable listing requirements only. For detailed listing requirements, refer to the TSX Venture Exchange Corporate Finance Manual which is available at www.tsx.com.
RkJQdWJsaXNoZXIy MjgzMzQ=