TSX Company Manual:

TSX Company Manual
Part I Introduction
Part II Why List on the Toronto Stock Exchange?
Part III Original Listing Requirements
Part IV Maintaining a Listing — General Requirements
Part V Special Requirements for Non-Exempt Issuers
Part VI Changes in Capital Structure of Listed Issuers
Part VII Halting of Trading, Suspension and Delisting of Securities
Part VIII Fees Payable by Listed Companies
Part IX Dealing with the News Media
Part X Special Purpose Acquisition Corporations (SPACs)
Part XI Requirements Applicable to Non-Corporate Issuers
Provisions Respecting Conflict of Interest and Competitors of TMX Group Limited
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Location: TSX Company Manual > Part III Original Listing Requirements > B. Minimum Listing Requirements > Minimum Listing Requirements for Oil and Gas Companies > Sec. 319.1. Requirements for Eligibility for Listing-Exempt Issuers31

Sec. 319. Requirements for Eligibility for Listing Non-Exempt Issuers28 Sec. 320. Public Distribution

Sec. 319.1. Requirements for Eligibility for Listing-Exempt Issuers31

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(2 versions)
 
Up to Feb 3 2011Feb 4 2011 onwards
(a) proved developed reserves32 of $7,500,00033;
(b) pre-tax profitability from ongoing operations in the fiscal year preceding the filing of the listing application;
(c) pre-tax cash flow of $700,000 in the fiscal year preceding the filing of the listing application and an average annual pre-tax cash flow of $500,000 for the two fiscal years preceding the filing of the listing application; and
(d) adequate working capital34 to carry on the business and an appropriate capital structure.

Exceptional circumstances may justify the granting of an exemption from Section 501, in which case the application will be considered on its own merits. "Exceptional circumstances" for this purpose will normally be confined to an affiliation with a substantial established enterprise and/or an exceptionally strong financial position.


31 See footnote 1

32 "Proved developed reserves" are defined as those reserves that are expected to be recovered from existing wells and installed facilities, or, of facilities have not been installed, that would involve a low expenditure, when compared to the cost of drilling a well, to put the reserves on production.

33 See footnote 30

34 In assessing the adequacy of funds, credit facilities with recognized financial institutions will be considered.


Sec. 319. Requirements for Eligibility for Listing Non-Exempt Issuers28 Sec. 320. Public Distribution

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