Why Switch Your Listing to CSE?
As a TSX or TSX-V listed company you will receive an invoice early in the New Year of at least $5,000 (plus an amount based on market cap) for the annual sustaining fee from the exchange on which you are listed.
Before you write another cheque for those high annual fees or have a deal delayed by exchange bureaucracy, you owe it to your shareholders to consider the following facts about the Canadian Securities Exchange (CSE):
Our system is “file and go”, not file and wait. We don’t try to substitute our judgement for the expertise, knowledge and judgement of the market and company management. Rather, we require full, true and plain disclosure. Consequently, you will not experience any delays, missed targets, or arbitrary deadlines awaiting approval of deals from our exchange.
CSE has only two fees; a one-time, initial listing fee of $12,500 and a fixed maintenance fee of $500 per month. The same low fee applies to everyone regardless of issued shares or market capitalization or number of filings and transactions.
CSE does not charge for filings, stock options, private placements, asset acquisitions – or for any material change in the normal course of business. Why should you pay for making public disclosure?
The total time to review and accept a new listing or a switch from the TSX or TSX-V? Three weeks or less. A company can use its existing public disclosures to create the application, and CSE does not require an application to be sponsored, providing further cost reductions.
We are often asked: Exchange review of corporate transactions entered into by listed companies has been unchanged for decades, so how is this possible?
The answer is that the regulatory regime of Canada’s other exchanges has not evolved beyond that old exchange model. CSE, on the other hand, is designed for the regulatory environment of today – where we already have National Instruments at the securities commission level to dictate prospectus disclosure, non-arms length transactions, technical and continuous disclosure standards. This enables CSE to require enhanced disclosure, but avoid pre-vetting and deal review at the exchange level.
In April, we listed Eurogas International, a spin-off from a TSX-V listed company. At the time of listing on CSE, Ned Goodman, Chairman of Eurogas and DundeeWealth, stated publicly: “…….Eurogas International believes that the CSE model of comprehensive regulatory oversight within a framework of streamlined issuer regulation provides an excellent trading platform for the company’s common shares.” DundeeWealth went on to make a subsequent strategic investment in CSE Markets Inc. In November, we listed Bestar Inc. (BES), one of 5 companies that have switched over from the TSX.
Speak to us about your business and your objectives; we can tell you how listing on CSE – Canada’s fastest growing stock exchange - will help you.
For more information, please contact
ITB Solutions Incorporated
Peter Traynor, Principal