New TSX Listings Category – Oil & Gas Development Stage Companies

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On July 29, 2011 the Toronto Stock Exchange ("TSX") adopted, and the Ontario Securities Commission approved, the amendments to Part III, Part V and Part VI of the TSX Company Manual  previously published in a request for commentson February 4, 2011.

The amendments included a new subcategory of minimum listing requirements for oil and gas development stage companies. This category will facilitate the listing of companies that have significant contingent resources but no proved developed reserves which were a requirement under the former TSX standards. This category will be suitable for issuers with unconventional oil and gas assets, such as oil sands.

Please see full alert below for more information.

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Published In: Administrative Agency Updates, Business Organization Updates, Energy & Utilities Updates, Finance & Banking Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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