I'm not involved with the local SC. I was just invited to attend a seminar on capital & funding which was put on by the NBSC. I'm the VP of the local chamber of commerce, so it was a morning of networking, although I learned a few interesting tidbits with respect to raising equity which is exempt from SC reporting.

The time frame for approval can sometimes be measured in weeks, not years, although the average time would be months.

I wonder about using the "higher standard of accounting" as an excuse. Is this because they don't see the need for spending the money to attain that higher level? (Getting a listing is probably about $100k for the first time, and about $40k per year to maintain afterwards, according to the NBSC's legal counsel this morning). Or is it because their accounting is grey in certain areas? Because if they're simply trying to save money on the accounting, I'd argue that ponying up $100k to get a TSX listing (and maintenance thereafter) is money that would be very, very well spent. I would be more inclined to think their might be other less obvious reasons, as Jacki has suggested.