On June 6, 2019, the Ontario Securities Commission issued Staff Notice 43-706 which introduced a pre-filing review regime for mining issuers in Ontario. The pre-filing review process is intended to reduce execution risk for issuers and investment dealers seeking to launch public offerings under a short form prospectus by providing a means to correct technical disclosure deficiencies prior to commencing a public offering. Ontario’s pre-filing review regime is now consistent with the regime in British Columbia.
The pre-filing review will include technical disclosure in documents of the public mining issuers filed on SEDAR and on the issuer’s website, including the current annual information form, news releases and material change reports, current technical reports and investor presentations.
The review will be focused on any material issues that could affect the ability of the issuer to obtain a receipt for a short form prospectus on a timely basis.
To be eligible for a pre-filing review, the issuer must be eligible to use the short form prospectus regime. Issuers are advised to seek pre-filing review at least 10 days prior to the anticipated filing date.
You can read the staff notice here.
DISCLAIMER: This post is intended to convey general information about legal issues and developments as of the date above. It does not constitute legal advice and must not be treated or relied on as such.