This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice (http://www2.deloitte.com/ca/en/legal/cookies.html) for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

CSA publishes update on use of the streamlined rights offering exemption for reporting issuers

  • Securities - CSA Image

Jul 26, 2018

On July 26, 2018, the Canadian Securities Administrators (CSA) published CSA Staff Notice 45-323 (revised) "Update on Use of the Rights Offering Exemption" to provide an update on the use of the streamlined rights offering exemption for reporting issuers adopted in December 2015.

According to the CSA, the exemption has been used 60 times in the past two years, raising $535.5 million across the country.

The CSA report also identified a number of compliance and disclosure issues with the use of the streamlined exemption and provided suggestions for improvements, namely in regards to: stand-by commitments, use of available funds and closing news release.

Review the Staff Notice on the OSC's website and a summary on Stikeman Elliot's website.

Related Topics

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.