TSX Venture Exchange Introduces New Electronic Private Placement Filing Procedure


The TSX Venture Exchange (“TSXV”) has introduced a new online filing portal, called V-File, for private placement submissions. Although paper filings for private placement submissions are still accepted by the TSXV, the intention is that in due course only electronic submissions will be accepted.

The V-File system is intended to improve turnaround time and increase efficiencies in the review and approval process for private placement submissions. V-File provides automatic e-mail notifications for all workflow events such as submission receipts, approvals and filing deadlines. The system also provides immediate validation upon submission, letting issuers know if the submissions are missing any data or are not compliant with TSXV policies.

Each TSXV listed issuer will have a principal contact, who must be a director or officer of the issuer. The principal contact will have the ability to grant access to the issuer’s account to multiple users, to manage the roles and levels of access for each user and to add and remove users. For example, issuers that typically have their lawyers do private placement filings can authorize the lawyers as users on their accounts. In addition, users will be able to manage submissions for multiple issuers with a single sign-on, and to view the real-time status of the multiple issuers’ submissions, respond to TSXV comments, and create or modify electronic submissions.

Issuers are encouraged to register for V-File by having a director or officer contact either Linda Shardlow or Tim Babcock.

For additional information, please contact Nafeesa Valli-Hasham of Clark Wilson LLP.