Tsx Revenue Required For Ipo

Tsx revenue required for ipo

Tsx revenue required for ipo

– *updated September 27, 2019 –

There are two tiers on the TSX Venture Exchange.

Tier One is aimed at larger more established companies. Tier One companies have certain listing benefits not available to more junior companies listed on Tier Two of the TSX Venture Exchange. Tier Two companies are generally early stage or junior companies which the TSX Venture Exchange believes need a bit more guidance than Tier One companies.

The two tables below set-out the listing requirements for Tier One and Tier Two of the TSX Venture Exchange (TSXV) for Industrial, Technology, Life Sciences, Real Estate and Investment Companies.

We are always open to talk to corporate executives who are considering listing on the TSXV.

Canadian IPOs

The listing requirements can sometimes be confusing and waivers can be applied for in certain circumstances when a company desiring to list is strong in all listing categories but for one. Do feel free to book an appointment with us if you need assistance to determine if your company qualifies to list on the TSX-V or other exchange.

Please note: The TSX and TSX Venture Exchange categorizes companies involved directly or indirectly in the cannabis or hemp industry as industrial companies.

Tsx revenue required for ipo

At this time, they will not list any company involved in the cannabis industry in the United States (they will list U.S. hemp companies).

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They also will not list cannabis companies that do not have the license(s) they require to conduct their stated business whether in Canada or in other countries which allow the research, cultivation and/or sale of cannabis products.

Please see the Canadian Securities Exchange if your company falls into one of these categories.

TSX-V – Tier One – Industrial, Technology, Life Sciences, Real Estate and Investment Companies Listing Requirements

Note: (1) The TSX may require sponsorship when business is located outside of North America or its deems independent due diligence is required.
(2) If less than 25 shareholders hold more than one-half of the Public Float (a “tight float”), the TSXV may also require further distribution.


TSX-V – Tier Two – Industrial, Technology, Life Sciences, Real Estate and Investment Companies Listing Requirements

Note: (1) The TSXV may require sponsorship when business is located outside of North America or its deems independent due diligence is required.
(2) If less than 25 shareholders hold more than one-half of the Public Float (a “tight float”), the TSXV may also require further distribution.

Initial Public Offering (IPO) Process

The listing committee for the TSX Venture Exchange will also conduct a public interest standard review of all listing candidates looking at such things as:

  • the reputation and past conduct of all directors, officers and majority stockholders;
  • at minimum of two independent directors;
  • characteristics unique to the company or its business;
  • the distribution and spread of the stock of the company (capital structure); and
  • less than 20% of the issued and outstanding stock of the company held by pro-groups at the time of listing

Company’s board of directors must agree to abide by the corporate governance requirements of the TSX Venture Exchange.
In addition to the foregoing the TSX Venture Exchange has different listing standards for Capital Pool Companies and mining companies.

A copy of the complete listing policy of the TSX Venture Exchange is available here: Listing Policy.

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Other Articles You May Find of Interest:

  • Master Chart of the Listing Requirements of the NYSE, NYSE-MKT, Nasdaq, TSX, TSX Venture Exchange, Aequitas Neo and CSE– Aug 30, 2015
  • Listing Requirements of the New York Stock Exchange– Aug 30, 2015
  • Listing Requirements of the Toronto Stock Exchange – Industrial, Tech., Research & Dev.

    Tsx revenue required for ipo

    Issuers– Aug 30, 2015

  • A Five Year Review of Listings and Equity Raises on the TSX Venture Exchange – Jan. 1, 2014 to Dec. 31, 2018 - Sep 27, 2019
  • Listing Requirements of NASDAQ Private Market - Aug 29, 2015
  • Listing Requirements of NYSE-MKT - Sep 27, 2019
  • Listing Requirements of the Canadian Securities Exchange – CSE - Oct 30, 2019
  • Listing Requirements of the NASDAQ Stock Market - Sep 27, 2019
  • Listing Requirements of the Toronto Stock Exchange (TSX) – Exploration and Mining Companies - Oct 30, 2019
  • Listing Requirements of the TSX Venture Exchange (TSX-V) – Exploration and Mining Companies - Sep 27, 2019
  • The Cost of Listing on a Stock Exchange or Obtaining a Quote in North America - Sep 27, 2019
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Disclaimer

The articles on this website are not intended to create, and do not create, an attorney-client relationship.

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You should not act or rely on information on this website without first seeking the advice of a lawyer. This material is intended for general information purposes only and does not constitute legal advice. You are advised to contact legal counsel prior to undertaking any securities transaction. Laws change and there are subtle nuances to the rules that may apply in your particular circumstance.

Alixe Cormick

Alixe Cormick is the founder of Venture Law Corporation in Vancouver, British Columbia and a member of Commercialization Advisory Board of the Life Science Institute at the University of British Columbia, the Advisory Board of the National Crowdfunding Association and two private tech companies.

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She is also a member of the Pacific Northwest Keiretsu Forum, an association of accredited private equity angel investors, venture capitalists and corporate/institutional investors, and Vantech Angel Technology Network, a Vancouver angel group.

You can reach Alixe by phone at 604-659-9188, by email at [email protected], on twitter @AlixeCormick or on Google+.

This entry was posted in Securities Trading Markets, TSX Venture Exchange (TSX-V) and tagged advice, biotech companies, british columbia, canada, companies, due diligence, exchange, exchanges, industrial companies, initial public offering, investment companies, ipo, life science companies, listing, listing requirements, listing requirements of tech companies, medical companies, medical device company, real estate companies, research and development companies, securities, software companies, software company, stock, tech companies, technology companies, TSX Venture Exchange, tsx-v, vancouver.

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