REALnorth Opportunities Fund completes $10.6 million Initial Public Offering (IPO)

REALnorthWe recently assisted REALnorth Opportunities Fund (“REALnorth”) in completing its initial public offering (IPO) (the “Offering”) comprised 10,623 trust units at $1,000 per trust unit for gross proceeds of $10,623,000.  The Offering was completed on a best efforts basis by a syndicate of agents co-led by Dundee Securities Ltd. and Scotia Capital Inc. and including BMO Nesbitt Burns Inc., Canaccord Genuity Corp., GMP Securities L.P., National Bank Financial Inc., Burgeonvest Bick Securities Ltd., Raymond James Ltd. and Integral Wealth Securities Limited.… ... View full post

GreenPower Motor Company Inc. Reverse Takeover and $3.28 Million Financing

Electric-Bus-EV350 We recently assisted with the completion of the going public transaction for GreenPower Motor Company Inc. (TSXV:GPV) (“GreenPower”), which was completed by way of a reverse takeover of Oakmont Minerals Corp. (TSXV:OMK).  In connection with its going public transaction, GreenPower also completed a private placement to raise approximately $3.28 million, partially on a brokered basis.  GreenPower is an electric bus manufacturer with a focus on the North American market.  The EV350 electric bus is GreenPower’s flagship product.  It is a 12 meter electric bus deploying the latest electric drive, battery technologies, and battery management system combined with a lightweight chassis and low floor body. … ... View full post

TSX Venture Exchange Amends Policies on Loans, Bonuses and Finder’s Fees

Effective January 26, 2015, the TSX Venture Exchange (the “TSXV”) is implementing amendments to its Policy 5.1 – Loans, Loan Bonuses, Finder’s Fees and Commissions (“Policy 5.1”). The substantive amendments to Policy 5.1 primarily relate to the following: 1.       Revised Loan Bonus Requirements and Limitations Loan bonuses: Loan bonuses may not be granted to a lender or guarantor for a loan or debt instrument that is convertible into Listed Shares. The limits for both bonus shares and bonus warrants will now be calculated using the applicable Market Price instead of the Discounted Market Price. … ... View full post

TSX Venture Exchange Amends Policies on Private Placements

Effective January 26, 2015, the TSX Venture Exchange (the “TSXV”) is implementing amendments to its Policy 4.1 – Private Placements (“Policy 4.1”) and the related forms. The amendments to Policy 4.1 that are substantive primarily relate to the following: 1.       Expanded Guidance on Notice and Acceptance Procedures The summary of the private placement procedure in Policy 4.1 has been revised to more clearly set out the steps involved in the notice and acceptance process for a private placement. 2.       Part and Parcel Pricing Exception The part and parcel pricing exemption has been redrafted to facilitate a better understanding of the existing pricing rules and to clarify the warrant exercise premium rules.… ... View full post

Canadian Securities Regulators Propose to Revive and Streamline Rights Offerings

On November 27, 2014, the Canadian Securities Administrators (“CSA”) published for comment proposed amendments (the “Proposed Amendments”) to the rules governing rights offerings in Canada. Rights offerings are offerings of securities to shareholders of the issuer existing at the time of the offering. The CSA acknowledges that rights offerings can be one of the fairer ways for issuers to raise capital as they provide security holders with an opportunity to protect themselves from dilution. However, the CSA also recognizes that reporting issuers very seldom use prospectus-exempt rights offerings because of the associated time and cost.… ... View full post