First Tidal Acquisition Corp T.AAA

RE: TSX Listing

[Irulecrap]

• Minimum Listing Requirements for Mining Companies

  • Sec. 314. Requirements for Eligibility for Listing Subject to Section 501

    b) Mineral Exploration and Development—Stage Companies

    i) an Advanced Property, detailed in a report prepared by an independent qualified person¹⁸. The Exchange will generally consider a property to be sufficiently advanced if continuity of mineralization is demonstrated in three dimensions at economically interesting grades;

    ii) a planned work programme of exploration and/or development, of at least $750,000¹⁹ that is satisfactory to the Exchange, will sufficiently advance the property and is recommended by an independent qualified person²⁰;

    iii) sufficient funds to complete the planned programme of exploration and/or development on the company's properties, to meet estimated general and administrative costs, anticipated property payments and capital expenditures for at least 18 months. A management-prepared 18 month projection (by quarter) of sources and uses of funds detailing all planned and required expenditures signed by the Chief Financial Officer must be submitted;

    iv) working capital of at least $2,000,000²¹ and an appropriate capital structure; and

    v) net tangible assets²² of $3000000.

    Property Ownership—A company must hold or have a right to earn and maintain at least a 50% interest in the qualifying property. Companies holding less than a 50% interest, but not less than a 30% interest, in the qualifying property may be considered on an exceptional basis, based on programme size, stage of advancement of the property and strategic alliances. Where a company has less than a 100% interest in a qualifying property, the programme expenditure amounts attributable to the company will be determined based on its percentage ownership²³

• Sec. 314. Requirements for Eligibility for Listing Subject to Section 501

  b) Mineral Exploration and Development—Stage Companies

  i) an Advanced Property, detailed in a report prepared by an independent qualified person¹⁸. The Exchange will generally consider a property to be sufficiently advanced if continuity of mineralization is demonstrated in three dimensions at economically interesting grades;

  ii) a planned work programme of exploration and/or development, of at least $750,000¹⁹ that is satisfactory to the Exchange, will sufficiently advance the property and is recommended by an independent qualified person²⁰;

  iii) sufficient funds to complete the planned programme of exploration and/or development on the company's properties, to meet estimated general and administrative costs, anticipated property payments and capital expenditures for at least 18 months. A management-prepared 18 month projection (by quarter) of sources and uses of funds detailing all planned and required expenditures signed by the Chief Financial Officer must be submitted;

  iv) working capital of at least $2,000,000²¹ and an appropriate capital structure; and

  v) net tangible assets²² of $3000000.

  Property Ownership—A company must hold or have a right to earn and maintain at least a 50% interest in the qualifying property. Companies holding less than a 50% interest, but not less than a 30% interest, in the qualifying property may be considered on an exceptional basis, based on programme size, stage of advancement of the property and strategic alliances. Where a company has less than a 100% interest in a qualifying property, the programme expenditure amounts attributable to the company will be determined based on its percentage ownership²³