Press Release (Non-Brokered Private Placement of Common Shares)

Summary

This precedent is a press release to announce a non-brokered private placement of common shares. A non-brokered private placement means that there is no underwriting or agency agreement and no commitment for compensation for placement of securities of an issuer. A non-brokered private placement of shares may involve a finder – who may or may not receive a fee for their services. Finders may or may not be registered with Canadian securities regulators. This precedent includes practical guidance and drafting notes. For issuers of securities listed on the Toronto Stock Exchange, there are no specific requirements to issue a press release about a private placement. An issuer's obligation of timely disclosure of a material change would apply. For issuers of securities listed on the TSX Venture Exchange (the "TSX-V"), Policy 4.1 outlines the TSX-V's private placement requirements. The price reservation process under the exchange rules requires a press release that discloses the terms of the ...