New TSX-V Capital Pool Company (CPC) Rules in Effect

This article entitled, “New and Improved TSX-V Capital Pool Company Program Rules Now in Effect” was prepared by James Leech and Michael J. Hanley of Torkin Manes LLP and posted on January 15, 2021. Their article provides a helpful summary of the new CPC rules. One of the significant changes is that the deadline of 24 months for a CPC to complete a Qualifying Transaction no longer applies. Other rules have also been relaxed, including lower distribution and public float requirements, a reduced escrow period, and relaxed director and officer requirements. This is good news for companies wishing to list a shell while searching for an appropriate qualifying transaction.