[author: Tiffany Canzano]
On October 1, 2012, the TSX Venture Exchange (the “TSXV”) published a Notice to Issuers providing guidance in respect of procedures relating to stock symbol reservations. Effective October 1, 2012 (the “Effective Date”), issuers requesting a new stock symbol must provide the TSXV with a written request which identifies the issuer and provides up to three proposed symbols that the issuer wishes to use (ranked in order of priority). The proposed symbols must be composed of not more than three letters.
In the event that none of the requested symbols are available, the TSXV will provide the issuer with a list of available symbols which the issuer must choose from. If one or more of the requested symbols is available, the TSXV will reserve the highest priority symbol from the issuer’s choices for use by the issuer.
A symbol will be reserved for the issuer’s use for a period of 90 days. This reservation period may be extended for up to two additional 90 day periods provided that the issuer requests the extension in writing prior to the end of the then current 90 day reservation period. In the event that a reservation is not extended by the issuer, the reserved symbol will be released and may not be reserved by or for the same issuer for a period of 10 days.
Symbols reserved as of October 1, 2012 which have been reserved for 270 days or more as of the Effective Date may be extended for no more than an additional 180 days from the Effective Date.
Symbols reserved as of October 1, 2012 which have been reserved for less than 270 days as of the Effective Date may be extended for no more than an additional 270 days from the Effective Date.
The above procedures should be read in combination with section 1.1(c) of Policy 2.3 – Initial Listing Procedures and Parts 3 and 4 of Policy 5.8 – Issuer Names, Issuer Name Changes, Share Consolidations and Splits of the TSXV Corporate Finance Manual.