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Message: Re: 44-101 Does this expire?
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Aug 11, 2015 04:18PM
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Aug 11, 2015 06:18PM
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Aug 11, 2015 08:20PM

I'll just clear up what Rob said by reminding everyone that August 17 is not a deadline of sorts for revealing what the plans are for listing in the US.

I think Rainer and Babaoriley both already mentioned this but the statement regarding the filing of notice under 44-101 reads that it must be filed a minimum of 10 business days prior to the filing of the short form prospectus. This means that the they can file it on Monday, August 17 at the earliest but do not have to do it immediately.

Also the notice does not expire. It remains in effect until withdrawn.

Below is the relevent quote from the POLICY STATEMENT TO REGULATION 44-101 RESPECTING SHORT FORM PROSPECTUS DISTRIBUTIONS (Bold mine)

"2.6. Notice Declaring Intention Subsection 2.8(1) of Regulation 44-101 provides that an issuer is not qualified to file a short form prospectus under Part 2 of Regulation 44-101 unless it has filed, with its notice regulator, a notice declaring its intention to be qualified to file a short form prospectus under Regulation 44-101. This notice must be filed in substantially the form of Appendix A of Regulation 44-101 at least 10 business days prior to the issuer filing its first preliminary short form prospectus. This is a new requirement that came into effect on December 30, 2005. The securities regulatory authorities expect that this notice will be a one-time filing for issuers that intend to be participants in the short form prospectus distribution system established under Regulation 44-101. Subsection 2.8(2) provides that this notice is operative until withdrawn. Though the notice must be filed with the August 13, 2013 PAGE 10 notice regulator, an issuer may voluntarily file the notice with any other securities regulatory authority or regulator of a jurisdiction of Canada. "

That said, I don't think we will have to wait very long to find out their exact plans.

Green

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