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Notice 2018-007 - Notice of Approval Application Of Continued Listing Requirements

August 9, 2018

INTRODUCTION

In accordance with the Process for the Review and Approval of Rules and the Information Contained in Form 21-101F1 (the "Protocol"), CNSX Markets Inc. (“CSE”) has adopted, and the Ontario Securities Commission (OSC) has approved, significant changes to CSE Policy 3 – Suspensions and Disqualification; Policy 1 – Interpretation and General Provisions; Policy 6 – Distributions.

On January 5, 2017, the Canadian Securities Exchange (“CSE”) proposed certain continued listing requirements (“CLR”) in Notice 2017-001 Request for Comments – Continued Listing Requirements (“CLR Notice”).  Also included in Notice 2017-001 were proposed public interest amendments to Policy 3 – Suspensions, Halts and Disqualifications.  Specifically, section 5 of Policy 3 was added to support the CLR.

On April 26th, 2018, CNSX Markets Inc. (“CSE”) published Notice 2018-004 - Public Interest Rule Amendment - Application of Continued Listing Requirements - Notice and Request for Comments.  CSE proposed to introduce specific restrictions on companies not meeting the CLR.

DESCRIPTION OF THE AMENDMENTS

CLR are intended to promote investor confidence by providing a threshold below which companies will not qualify for continued listing on an exchange. The Amendments also provide clarity and transparency in the application of the CLR, and include additional measures, such as the restrictions proposed in section 5.2 to ensure that an issuer’s resources are directed towards developing or pursuing a business, rather than promoting a company without one or preparing the issuer as a listed shell company. 

The full text of the amendments is available in Notice 2018-0004:

http://thecse.com/en/about/publications/notices/notice-2018-004-public-interest-rule-amendment-application-of-continued

The amended policies are available on the CSE website under http://thecse.com/support/listed-companies/policies

IMPLEMENTATION

The amendments are effective immediately.

Questions about this notice may be directed to:

Mark Faulkner, Vice President Listings & Regulation,

Mark.Faulkner@thecse.com, or 416-367-7341

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