Several provincial securities regulators have granted relief to allow junior issuers to be listed on both the TSX Venture Exchange (TSXV) and the new Santiago Venture Market.
Regulators in Alberta, British Columbia, Saskatchewan, Quebec, Nova Scotia and New Brunswick announced Thursday that they have granted blanket relief from the restriction on foreign listings by venture issuers in order to facilitate this dual listing.
Chile’s new venture exchange, which is intended to be a junior market similar to the TSXV, will allow dual listings on both markets.
As a result of the blanket order, which took effect on March 31, companies that qualify as venture issuers, and have securities listed on the Santiago Venture Market, can continue to follow the disclosure requirements that are tailored for venture issuers in Canada.
The regulators note that other Canadian jurisdictions may consider providing similar blanket relief. Although, Ontario doesn’t have the authority to issue blanket relief. Instead, TSXV issuers that are reporting issuers in Ontario will have to apply to the Ontario Securities Commission (OSC) for exemptive relief in order to inter-list on the Santiago Venture Exchange.