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

New Prospectus Exemption For Canadian Listed Issuers

On March 13, 2014, the securities regulatory authorities in British Columbia, Alberta, Saskatchewan, Manitoba, Québec, New Brunswick, Nova Scotia, Yukon, Northwest Territories, Nunavut, and Prince Edward Island adopted a prospectus exemption that will allow issuers listed on the Toronto Stock Exchange (TSX), TSX Venture Exchange (TSX-V), and the Canadian Securities Exchange (CSE) to raise money by distributing securities to their existing security holders. In order to acquire securities under the new exemption, an existing security holder must confirm in writing that they are a security holder of the issuer.… ... View full post

CSA Proposes Allowing TSXV Issuers to Conduct Private Placements with Existing Security Holders

On November 21, 2013, the Canadian Securities Administrators (the “CSA”) published Multilateral CSA Notice 45-312 Proposed Prospectus Exemption for Distributions to Existing Security Holders, which provides notice of a proposed new prospectus exemption in all jurisdictions in Canada, except Ontario and Newfoundland and Labrador. According to the notice, market participants report that issuers listed on the TSX Venture Exchange (the “TSXV”) are not conducting prospectus offerings or using prospectus exemptions to sell to retail investors because of the time and cost involved in preparing the required offering document.… ... View full post