RE: RE: RE: CTN News & FinancingFrom the TSX Private Placement Guideleines - Policy 4.1:
https://www.tmx.com/en/pdf/Policy4-1.pdf
1.6 Price
In a Private Placement of Listed Shares, the purchase price must not be less than the Discounted Market Price for those Listed Shares.
See the definition of Discounted Market Price in Policy 1.1 - Interpretation.
1.7 Part and Parcel Pricing Exception
The Exchange may accept the pricing for a Private Placement at no less than the Discounted Market Price on the day before the Issuer publicly announces a transaction constituting a Material Change, if the Private Placement and the Material Change were announced in the same news release and the Private Placement is integral to the Material Change. The following conditions must be met at the time Notice is filed with the Exchange:
POLICY 4.1 PRIVATE PLACEMENTS Page 4 (as at December 15, 2008)
Market Price
|
Percentage Premium
|
up to
.50
|
50%
|
.51 - $2.00
|
25%
|
above $2.00
|
15%
|