Canadian Disclosure Law"Timely Disclosure (1) Companies are required by law to immediately disclose a “material change”1 in their business. For changes that a company initiates, the change occurs once the decision has been made to implement it. This may happen even before a company’s directors approve it, if the company thinks it is probable they will do so. A company discloses a material change by issuing and filing a press release describing the change. A company must also file a material change report as soon as practicable, and no later than 10 days after the change occurs. 2 This policy statement does not alter in any way the timely disclosure obligations of companies."
https://lautorite.qc.ca/fileadmin/lautorite/reglementation/valeurs-mobilieres/51-201/2001-05-25/2001mai25-51-201-ig-cons-en.pdf