OSC takes action to reduce burden for mining issuers

TORONTO – The Ontario Securities Commission (OSC) announced today that, effective immediately, mining issuers can request reviews of public technical disclosure before filing a preliminary short form prospectus. Mining issuers represent the largest population of Ontario head office reporting issuers, and this development will allow for material comments to be resolved promptly.  

"This initiative will provide greater deal certainty to Ontario mining issuers, helping them avoid potentially costly and disruptive delays in the offering process," said Sonny Randhawa, OSC Director of Corporate Finance.

OSC staff will review mining issuers’ technical disclosure in documents previously filed on SEDAR and disclosure on issuers’ websites, including: current annual information forms; news releases and material change reports; current technical reports; and investor presentations. The pre-filing reviews will focus on any material issues that could affect the ability of an issuer to be granted a receipt from the OSC for a short form prospectus in a timely manner.  

More information on the program can be found in OSC Staff Notice 43-706 Pre-filing Review of Mining Technical Disclosure.

The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair and efficient capital markets and confidence in the capital markets, and to contribute to the stability of the financial system and the reduction of systemic risk.  Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at www.osc.ca. 

 

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