RE:Thoughts re TSX $10mm Treasury via issuance requirementWe
MidtownGuy wrote: As noted previously, one of the listing requirements is "Minimum $10,000,000 in the treasury, the majority of which has been raised by the issuance of securities qualified for distribution by a prospectus".
Given it's a majority, that's at or above $5,000,000 needed.
So thoughts:
1/ exemptions to this are possible, and granted based on proving "an affiliation with established business and/or exceptionally strong financial position". So if PYR comes out prior to listing with a torch deal that shows massive numbers, OR an contractual affiliation with a giant customer a la Vale, Tesla, etc., the TSX would likely wave the treasury issuance requirement, no doubt. It's simply there to show you can raise money. Giant contracts and partners would prove that.
2/ Could HPQ pull a PYR and, through a private placement for that full $5mm, buy into PYR? Not sure what cash HPQ has, but maybe that's the reason for the back and forth quid pro quo of a month ago.
3/ Could Sheldon Inwentash continue the relationship he announced a few months ago, and make his buy-in via private placement for the whole amoun (less likely)?
4/ Could one of the major contract partners of the infamous clients A, B, or C (or Tesla) buy the whole private placement to ensure their exclusivity?
On the whole, it's easy money to raise without market-level dilution. $5mil is chump change now.
I said this a while ago. Uplisting news first and foremost followed by Torch sales. Absolutely best bang for the buck! However “Midtown” you have captured many more interesting possibilities!
Great post