VSE
Announces Small Financing Exemption
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Vancouver, B.C. Michael E. Johnson, president and chief executive officer of the
Vancouver Stock Exchange (VSE), is pleased to announce the Exchange's new Small Financing
Exemption, effective May 3. The Small Financing Exemption is a key component of the VSE's
recent series of regulatory innovation initiatives that provide improved access to capital
for listed companies.
The new Small Financing Exemption allows VSE listed companies to raise $1 million in
any 12-month period from retail investors through a new Short Form Offering Document.
Companies that have filed a current Annual Information Form and other required continuous
disclosure materials with the British Columbia Securities Commission (BCSC) are eligible
to raise capital without a prospectus, and investors can purchase up to 2% of the offering
without a hold period.
"The VSE is the first exchange to offer this prospectus exemption to listed
companies," Mike Johnson says. "It allows listed companies an opportunity to
reach a wider range of retail investors, at a reduced expense, while providing sufficient
disclosure," he continues.
The Small Financing Exemption is one of the many regulatory innovation initiatives that
have been made possible through support of the BCSC.
"The new policies and procedures are a direct benefit of the Exchange's success in
building market integrity," Johnson explains. "They provide emerging companies
with better access to capital, attract institutional participation and ensure safeguards
for retail investors."
"They are part of the VSE's ongoing effort to provide more flexible procedures,
reduce expenses and ensure faster processing times for listed companies," Johnson
adds.
More than a dozen streamlined policies and procedures were announced in March, and the
new Small Financing Exemption completes the series.
For more information on the Small Financing Exemption and other regulatory innovation
initiatives, please visit the VSE website at www.vse.ca. The website contains the complete
Corporate
Finance Policy & Procedures Manual. Additional questions may be directed to the
VSE's Corporate Finance Services Duty Officer at 689-3334.
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