The BCSC has adopted BC Instrument 13-504 Interim Relief for Issuers Listed on Aequitas NEO Exchange Inc. from the Requirements Pertaining to Venture Issuers effective May 31, 2015. BC Instrument 13-504 is intended to be an interim measure until previously proposed amendments come into force.
On December 11, 2014, the Canadian Securities Administrators published proposed amendments to a number of national and multilateral instruments (the “Proposed Amendments”). The Proposed Amendments are intended to ensure that the rules applicable to issuers listed on senior recognized exchanges in Canada (for example, the TSX) also apply to those listed on the Aequitas NEO Exchange. In other words, the Proposed Amendments would amend the definition of “venture issuer” to exclude issuers listed on Aequitas NEO Exchange. BC Instrument 13-504 ensures that Aequitas NEO Exchange-listed issuers would be recognized as non-venture issuers until the Proposed Amendments come into force. The exemption provided under BC Instrument 13-504 is only available to an issuer that files an undertaking prior to having its securities listed on Aequitas NEO Exchange. That form of undertaking is provided in the schedule to BC Instrument 13-504.
For further information, please consult BC Instrument 13-504.