CSE Comments on CSA Staff Notice Regarding Issuers with U.S. Cannabis-Related Activities

Toronto, Ontario–(Newsfile Corp. – October 16, 2017) – The Canadian Securities Exchange (“CSE”) notes today that the Canadian Securities Administrators (“CSA”) have issued a staff notice clarifying specific disclosure expectations for issuers that have, or are currently in the process of developing, exposure to cannabis-related activities in U.S. states that have legalized such activities.

The CSE is very pleased that the CSA has issued this detailed notice, which provides significant clarity for all stakeholders in this sector. Some of the notable disclosure expectations are listed below.

All issuers with U.S. cannabis exposure:

  • Must explain that cannabis remains illegal under U.S. federal law and that the approach to enforcement of U.S. federal laws is subject to change. The resultant risks, including the risk of adverse enforcement action, must be discussed;
  • Must state whether and how their activities are conducted in a manner consistent with any U.S. federal enforcement priorities;
  • Must discuss their ability to access both public and private capital, and indicate whether financing options are available or are not available in order to support continuing operations, given the illegality of cannabis under U.S. federal law.

Issuers with direct involvement in U.S. cannabis cultivation or distribution:

  • Must outline the regulations in the U.S. states in which they operate, and confirm how they are complying with applicable licensing requirements and the regulatory framework enacted by the applicable state;
  • Must discuss their program for monitoring compliance with U.S. state law on an ongoing basis and outline internal compliance procedures. They also must disclose any material non-compliance as well as material citations or notices of violation.

Issuers with indirect involvement in U.S. cannabis cultivation and distribution:

  • Must outline regulations in the U.S. states in which their investee(s) operate;
  • Must provide reasonable assurance that the investee’s business is in compliance with the applicable licensing requirements and regulatory framework enacted by the applicable U.S. state. (A similar requirement also applies to issuers with material ancillary involvement in the U.S. cannabis sector, as defined by the CSA.)

The CSA also noted that they may re-examine their views on the U.S. cannabis sector should the U.S. federal government change its “forbearance-based enforcement approach.”

“We are grateful to the CSA for issuing timely and carefully considered guidance regarding current and prospective reporting issuers focused on the U.S. cannabis sector,” commented Richard Carleton, CEO. “This document provides significant comfort to these issuers that their Canadian listings will remain in good standing as long as they provide the disclosure that is rightly required by regulators.”

“We are also committed to ensuring that there is no disruption to the central clearing, depository and settlement services provided for these issuers. We are working with the relevant stakeholders on this matter and are very confident that companies will continue to have trades in their securities cleared and settled.”

The CSE strongly recommends that market participants read the entire CSA notice, which is available here: http://ift.tt/2xKOP7Z

About the Canadian Securities Exchange:

The CSE is home to more than 300 uniquely listed issues covering a broad range of industry sectors. The CSE provides trade execution, smart routing, risk management, compliance and market information services for Canadian listed instruments.

Recognized as an exchange by the Ontario Securities Commission in 2004, the CSE is designed to facilitate the capital formation process for public companies through a streamlined approach to company regulation that emphasizes disclosure and the provision of efficient secondary market trading services for investors.

For more information, please visit www.thecse.com and our blog at http://blog.thecse.com

Contact:
Richard Carleton, CEO
416-367-7360
richard.carleton@thecse.com

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2176423 Ontario Ltd. Announces Investment in Jaguar Mining Inc.

Toronto, Ontario–(Newsfile Corp. – October 16, 2017) – 2176423 Ontario Ltd. announces that today it purchased 5,000,000 common shares (“Shares”) of Jaguar Mining Inc. (“Jaguar”) pursuant to a private agreement at a price of $0.27 per Share for total consideration of $1,350,000. 2176423 Ontario Ltd. is beneficially owned by Eric Sprott.

The 5,000,000 Shares represent approximately 1.5% of the issued and outstanding Shares of Jaguar on a non-diluted basis. These Shares, together with the 2,000,000 Shares previously acquired by 2176423 Ontario Ltd. since June 15, 2017 being the date of its last early warning report, represent approximately 2.2% of the outstanding Shares. As of the date hereof, after giving effect to this acquisition, Mr. Sprott will hold directly and indirectly 71,300,596 Shares (approximately 21.9% of the outstanding Shares). Prior to the date hereof, Mr. Sprott beneficially owned 66,300,596 Shares representing approximately 20.4% of the issued and outstanding Shares on a non-diluted basis.

The Shares were acquired by Mr. Sprott, through 2176423 Ontario Ltd. for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of Jaguar either on the open market or through private acquisitions or sell securities of Jaguar either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

Jaguar is located at 5600-100 King Street West, Toronto, Ontario, M5X 1C9. A copy of 2176423 Ontario Ltd.’s early warning report will appear with Jaguar’s documents on the System for Electronic Document Analysis and Retrieval and may also be obtained by contacting Mr. Sprott at (416) 362-7172.

Eric Sprott
200 Bay Street, Suite 2600
Royal Bank Plaza, South Tower
Toronto, Ontario M5J 2J1

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IIROC Trade Halt – Osisko Gold Royalties Ltd.

Toronto, Ontario–(Newsfile Corp. – October 16, 2017) – The following issues have been halted by IIROC:

Company: 

Osisko Gold Royalties Ltd.

TSX Symbol:

OR (all issues)

Reason:

Dissemination

Halt Time (ET)

16:42

   

IIROC can make a decision to impose a temporary suspension of trading in a security of a publicly listed company, usually in anticipation of a material news announcement by the company. Trading halts are issued based on the principle that all investors should have the same timely access to important company information. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

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For further information: IIROC Inquiries 1-877-442-4322 (Option 3) – Please note that IIROC is not able to provide any additional information regarding a specific trading halt. Information is limited to general enquiries only.

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IIROC Trade Halt – Emblem Corp.

Vancouver, British Columbia–(Newsfile Corp. – October 16, 2017) – The following issues have been halted by IIROC:

Company: 

Emblem Corp.

TSX-V Symbol:

EMC

Reason:

At the Request of the Company Pending News

Halt Time (ET)

16:38

   

IIROC can make a decision to impose a temporary suspension of trading in a security of a publicly listed company, usually in anticipation of a material news announcement by the company. Trading halts are issued based on the principle that all investors should have the same timely access to important company information. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

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For further information: IIROC Inquiries 1-877-442-4322 (Option 3) – Please note that IIROC is not able to provide any additional information regarding a specific trading halt. Information is limited to general enquiries only.

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Bison Gold Receives Final Court Order for Plan of Arrangement with Klondex Mines Ltd.

Toronto, Ontario–(Newsfile Corp. – October 16, 2017) – Bison Gold Resources Inc. (TSXV: BGE) (“Bison” or the “Company“) is pleased to announce that on October 16, 2017 the Company obtained the final order from the Ontario Superior Court of Justice (Commercial List) approving the proposed acquisition of all of the common shares of Bison by Klondex Mines Ltd. (“Klondex“) by way of plan of arrangement (the “Arrangement“). As announced in the Company’s press release dated October 11, the Arrangement received overwhelming support by the Bison shareholders at the special meeting of Bison shareholders held on October 11, 2017 (the “Meeting“) and there were no dissenting shareholders.

The Arrangement is expected to be completed on or about October 19, 2017 upon satisfaction or waiver of all of the conditions set out in the arrangement agreement (the “Arrangement Agreement“) dated August 7, 2017 between Klondex and the Company. Upon completion of the Arrangement, Klondex will acquire all the outstanding shares of Bison in exchange for common shares of Klondex (“Klondex Shares“), cash, or a combination of Klondex Shares and cash, at the election of Klondex (the “Arrangement Consideration“). Following completion of the Arrangement, Bison will be de-listed from the TSX Venture Exchange.

As previously disclosed, Klondex may make an election (a “Share Election“), on or prior to October 17, 2017 to pay all or a portion of the Arrangement Consideration in the form of Klondex Shares. For greater certainty, if Klondex does not make a Share Election, the Arrangement Consideration will be paid in the form of cash. If Klondex makes a Share Election, Bison will issue a press release notifying Bison shareholders of the form of Arrangement Consideration to be paid by Klondex.

Further information about the Arrangement is set forth in the materials prepared by the Company in respect of the Meeting which were mailed to Bison shareholders and filed under Bison’s profile on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com as well as on Bison’s website at www.bisongold.com.

About Bison Gold Resources Inc.

Bison is a Canadian public company listed on the TSX-V. Bison is focused on gold exploration with property assets in Manitoba, Canada. Further details can be found on Bison’s website at www.bisongold.com.

About Klondex Mines Ltd.

Klondex is a well-capitalized, junior-tier gold and silver mining company focused on exploration, development, and production in a safe, environmentally responsible, and cost-effective manner. Klondex has 100% interests in three producing mineral properties: the Fire Creek Mine and the Midas Mine and ore milling facility, both of which are located in the state of Nevada, USA, and the True North Gold Mine and mill in Manitoba, Canada. Klondex also has 100% interests in two recently acquired projects, the Hollister mine and the Aurora mine and ore milling facility, also located in Nevada, USA.

For further information, please contact:

Amir Mousavi, Chief Executive Officer
Bison Gold Resources Inc.
Tel: (647) 846-3339
www.bisongold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

This news release contains certain “forward-looking information” within the meaning of applicable securities laws that reflects current expectations of management of Bison regarding the Arrangement and its consummation, including whether conditions to the consummation of the Arrangement will be satisfied. Forward looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. In particular, such risks include the satisfaction of the conditions precedent to the completion of the Arrangement, the details of which are set out in the management information circular of the Company prepared in connection with the Meeting. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis. The following factors could cause actual results to differ materially from those disclosed in forward-looking information in this news release: failure to satisfy the conditions to completion of the Arrangement, including the occurrence of any event, change or other circumstance that could give rise to the termination of the Arrangement Agreement. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.

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IIROC Trade Halt – Agellan Commercial Real Estate Investment Trust

Toronto, Ontario–(Newsfile Corp. – October 16, 2017) – The following issues have been halted by IIROC:

Company: 

Agellan Commercial Real Estate Investment Trust

TSX Symbol:

ACR.UN (all issues)

Reason:

Pending News

Halt Time (ET)

16:27

   

IIROC can make a decision to impose a temporary suspension of trading in a security of a publicly listed company, usually in anticipation of a material news announcement by the company. Trading halts are issued based on the principle that all investors should have the same timely access to important company information. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

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For further information: IIROC Inquiries 1-877-442-4322 (Option 3) – Please note that IIROC is not able to provide any additional information regarding a specific trading halt. Information is limited to general enquiries only.

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IIROC Trade Resumption – Lingo Media Corporation

Vancouver, British Columbia–(Newsfile Corp. – October 16, 2017) – Trading resumes in:

Company:

Lingo Media Corporation

TSX-V Symbol:

LM

Resumption Time (ET):

08:00 October 17, 2017

 

 

IIROC can make a decision to impose a temporary suspension of trading in a security of a publicly listed company, usually in anticipation of a material news announcement by the company. Trading halts are issued based on the principle that all investors should have the same timely access to important company information. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

– 30 –

For further information: IIROC Inquiries 1-877-442-4322 (Option 3) – Please note that IIROC is not able to provide any additional information regarding a specific trading halt. Information is limited to general enquiries only.

from Newsfile Corp News Releases http://ift.tt/2gJq0yY