News & Analysis as of

Canada Shareholder Approval

Stikeman Elliott LLP

Ten Key Considerations for Growth Equity Investments in Canada: Part 3

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As growth equity investment strategies gain prominence in global private equity fundraising and institutional capital allocation, we have seen an increase in this type of investment in Canadian companies, particularly by U.S....more

Dorsey & Whitney LLP

Continuing a Company from One Country to Another Country Without U.S. Registration or Exemption Triggers Shareholder Rescission...

Dorsey & Whitney LLP on

​​​​​​​In Canada it’s considered no big deal to ask shareholders to approve a continuance or redomicile of a company from one province to another, or between Canadian provincial and federal jurisdictions. That’s also largely...more

Bennett Jones LLP

Ontario Eliminates Director Residency Requirements and Permits Majority Shareholder Resolutions in Writing

Bennett Jones LLP on

In November of 2020, we wrote about forthcoming changes to the Ontario Business Corporations Act (OBCA) proposed by the Government of Ontario in Bill 213 Better for People, Smarter for Business Act, 2020. After receiving...more

Blake, Cassels & Graydon LLP

Summary of Oversight and Regulatory Activities: AMF’s 2019 Report on Quebec Capital Markets

The Corporate Finance division of the Autorité des marchés financiers (AMF) recently released its third annual Summary of Oversight and Regulatory Activities (Report). Along with an overview of Quebec’s capital markets, the...more

Blake, Cassels & Graydon LLP

New TSX Rules Governing Special Purpose Acquisition Corporations Now in Effect

The Toronto Stock Exchange (TSX) announced amendments (Amendments) to Part X — Special Purpose Acquisition Corporations (SPACs) of the TSX Company Manual (Manual), which came into effect on October 4, 2018. Notable changes to...more

Blake, Cassels & Graydon LLP

TSX Seeks Input on Proposed Changes to Rules Governing Special Purpose Acquisition Corporations

The Toronto Stock Exchange (TSX) recently released proposed amendments (Proposed Amendments) to Part X — Special Purpose Acquisition Corporations (SPACs) of the TSX Company Manual (Manual). Notable changes include codifying...more

Bennett Jones LLP

Change in Shareholder Approval Requirements for Certain TSX-V-Listed Issuers Undertaking a Change of Business or Reverse Takeover

Bennett Jones LLP on

On December 15, 2016, the TSX Venture Exchange (TSX-V) published amended Policy 5.2 – Changes of Business and Reverse Takeovers of the TSX Venture Exchange Corporate Finance Manual (Policy 5.2). The amendments to Policy 5.2...more

Bennett Jones LLP

Update on Auditing the Audit

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Most jurisdictions in Canada require the unanimous consent of all shareholders (including non-voting shareholders) in order for a non-distributing corporation to dispense with an audit. The requirement is absolute and...more

Bennett Jones LLP

Asset Sale Transactions – Shareholder Approval Requirements

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Canadian corporate statutes require approval by a special majority of shareholders (two-thirds) of the “sale, lease or exchange of all or substantially all of the property of a corporation other than in the ordinary course of...more

Bennett Jones LLP

Considering an Asset Sale Transaction? Be Aware of Shareholder Approval Requirements

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In the current economic climate, many companies are seeking alternative means of accessing capital for their businesses, including by selling assets when other means of financing may not be available. When considering an...more

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