TSX Minimum Listing Requirements (Mining non-exempt Development Stage or Producing)
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Property Requirements: Advanced ExplorationProperty(3) Minimum 50%ownership in the property(4)
- Recommended Work Program: $750,000 on Advanced Exploration Property as recommended in Independent Technical Report
- Working Capital/Financial Resources: Minimum $2.0 million working capital, but sufficient to complete recommended programs, plus 18 months G&A, anticipated property payments and capital expenditures. No debt
- Net Tangible Assets/Earnings/Revenues: $3,000,000 Net Tangible Assets; No requirement
- Other Criteria: Up-to date, comprehensive Technical Report prepared by independent QP 18 month projection (by quarter) of sources & uses of funds, signed by CFO
- Distribution, Market Cap and Public Float: $4,000,000 publicly held 1,000,000 free trading public shares 300 public holders with Board Lots
- Sponsorship: Required (may be waived if sufficient previous 3rd party due diligence)
There is another process, "Graduation to TSX from the Venture" which I would assume would streamline the application.
Graduation to Toronto Stock Exchange
We can help your growing company graduate from TSX Venture Exchange to Toronto Stock Exchange in a more efficient and economical manner than ever before. If your company meets the listing requirements of Toronto Stock Exchange, consider these benefits:
Cost savings
Toronto Stock Exchange listing application fee (CDN$10,000) will be waived for eligible TSX Venture Exchange issuers. Original Listing Fees will still apply.
Reduction of documentation
Certain issuer information on file with TSX Venture Exchange can be accessed by Toronto Stock Exchange, reducing the number of documents required to be submitted.
Waiver of sponsorship
Sponsorship requirements may be waived for qualified TSX Venture Exchange issuers.*
*Some conditions apply. See Part III and Appendix A of the Toronto Stock Exchange Company Manual for complete details.
The Steps to Graduation:
- Contact Business Development.
- Set up an advisory meeting with Toronto Stock Exchange to determine eligibility.
- Submit application with supporting documentation.
- After final approval, delist from TSX Venture Exchange and begin trading on Toronto Stock Exchange.
Cheers, Mark
