FAIR Canada has submitted comments regarding Canadian Securities Exchange Notice 2018-010 and Request for Comment – Public Interest Rule Amendment to Policy 6 Distributions. We support the amendments proposed by the CSE that will introduce a requirement for resale restrictions on securities issued pursuant to the Employee, executive officer, director and consultant exemption in section 2.24 of National Instrument 45-106 Prospectus Exemptions.
We also support the proposed amendments’ requirement of prior written approval from the CSE to issue shares under section 2.24 without a hold period. The availability of this prior approval feature should facilitate capital raising under this exemption in appropriate circumstances.
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