1 / 14

CNQ: Canada’s New Stock Exchange

CNQ: Canada’s New Stock Exchange. Benefits of Going Public. Access to Capital Vital in the mineral exploration business Platform to grow Currency to make acquisitions Maintain Control As little as 5% can be in public hands Profile Provide a secondary market for existing shareholders

toviel
Télécharger la présentation

CNQ: Canada’s New Stock Exchange

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. CNQ: Canada’s New Stock Exchange

  2. Benefits of Going Public • Access to Capital • Vital in the mineral exploration business • Platform to grow • Currency to make acquisitions • Maintain Control • As little as 5% can be in public hands • Profile • Provide a secondary market for existing shareholders • Compensation • Share issuances, stock options, etc.

  3. Means of Going Public • Prospectus • Non-offering clears existing shareholders • IPO • Cheaper • Must go through Securities Commission(s) • Reverse Takeover (RTO) • Advantages • Faster • Built in distribution • Disadvantages • Expensive • “Homework” must be done

  4. CNQ • Recognized by OSC Feb. 28, 2003 as a quotation and trade reporting system • Launch – July 25, 2003 • Recognized as a stock exchange on May 7, 2004 • Designed to meet the needs of: • Issuers • Dealers • Investors

  5. CNQ Competitive Advantages • A cost effective exchange • Streamlined regulatory model • Liquidity • Multiple market making combined with client orders helps create orderly markets • Transparency • Integrity

  6. CNQ Overview • Fully electronic trading platform • Auction market + competitive market makers • Issuer standards + enhanced disclosure requirements

  7. CNQ Market Structure

  8. Overview of Listing Process • Application and agreement to comply • Listing Statement (Form 2A) • Prospectus level disclosure • Background checks on management and insiders to ensure they are acceptable • Documentation posted on CNQ.CA • Central repository for all CNQ enhanced disclosure and SEDAR filings • Approvals in as little as 3 weeks

  9. Overview of Listing Requirements • Public Float • 150 shareholders with a minimum one board lot each representing 10% of the issued and outstanding shares • Financial Resources • Revenues from business activity or a plan with the resources to achieve objectives (minimum $100,000 in working capital) • Resource companies must have a technical report compliant with the appropriate National Instrument • May retain your CCPC status while listed on CNQ

  10. Streamlined Regulation • Disclosure driven (CNQ.CA) • Listing Statement • Monthly Update • Quarterly Report • SEDAR + • No transaction reviews/approvals • Systematic reviews of the disclosure record

  11. Transaction Process • Post notice on CNQ.CA and observe Timely Disclosure Requirements • Post CNQ Form applicable to type of transaction • Post CEO certificate of compliance • Wait 24 hours • Close Transaction Therefore, no cost or delay!

  12. CNQ Issuer Fee Structure • Application fee $10,000 -Non refundable deposit of $2,000 + GST with initial application with the balance due six months after listing • Maintenance fee $300/month • No annual sustaining fee • No transaction fees

  13. Visibility on CNQ.CA • Disclosure Hall • Market info including depth with a 15 minute delay • Company info • Links to all disclosure • Centralized • Secure + Issuer controlled • Internet access for all investors

  14. CNQ Contacts416-572-2000 www.CNQ.CA Issuers: Radhika Joseph, Listings Coordinator Mark Faulkner, Director of Listings & Regulation Rob Theriault, Business Development, Listings Dealers: Natasha Blackburn, Market Development Bernard Chua, Market Operations Rules, General Policies Tim Baikie, General Counsel Western Canada: Mark Francis, 204-942-8992

More Related