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TSX - Industrial &
Technology Companies
Listing Requirements |
|
Requirements |
Profitable Companies |
Companies Forecasting
Profitability |
Technology Companies |
Research & Development Companies |
|
Pre-Tax Income
Last Year |
C$200,000 |
C$200,000 (Evidence
for current or next fiscal year only) |
N/A |
N/A |
|
Pre-Tax Cash Flow
Last Year |
C$500,000 |
C$500,000 (Evidence for current or next fiscal year) |
N/A |
N/A |
|
Minimum Operating History |
One Year |
N/A |
Advanced stage development or commercialization of product/services |
Two years of R&D
expenditures |
|
Net Tangible Assets |
C$2,000,000 |
C$7,500,000 |
N/A |
N/A |
|
# of Public Board
Lot Holders |
300 |
300 |
300 |
300 |
|
Minimum Free Trading
Public Float |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
|
Value of Free Trading Public Float |
C$4,000,000 |
C$4,000,000 |
C$10,000,000 |
C$4,000,000 |
|
Market value of Issued Securities to be Listed |
N/A |
N/A |
C$50,000,000 |
N/A |
|
Minimum Cash
in Treasury |
N/A |
N/A |
C$10,000,000 |
C$12,000,000 |
|
Minimum Additional Working Capital |
Adequate given business |
Adequate given business |
One year coverage |
Two years coverage |
|
Sponsorship Required |
Yes(1) |
Yes |
Yes |
Yes |
Note:
(1) an applicant will be exempt from the sponsorship requirements if they
have (a) net tangible assets of $7,500,000; (b) pre-tax income of at least
$300,000; and (c) pre-tax cash flow of $700,000 in the fiscal year
immediately preceding the filing of the listing application and an average
pre-tax cash flow of $500,000 for the two fiscal years immediately
preceding the filing of the listing application.
The listing staff of the Toronto Stock Exchange will
also look at the suitability of all officers, directors and stockholders
holding 10% or more of the company's stock. Companies must have at least
two Canadian independent directors. They
must also have a Toronto Stock Exchange participating organization sponsor their listing
unless they meet the senior company listing criteria.
All companies listed on the Toronto Stock Exchange must agree to abide by
the corporate governance requirements of the exchange.
For the listing criteria of mining companies click here
or go to the TSX
website.
TSX - Mining.
Go to the listing requirements
of other exchanges:
Master Chart Summary,
Amex ,
TSX,
NASDAQNM,
NASDAQSM,
TSX Venture,
CNSX,
OTCBB,
US Pink Sheets
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Alixe
B. Cormick