CSE Listing Requirements

Equity Securities
Operating Company Non-Operating Company
General Requirements A prospective equity securities Issuer on the CSE must meet one of the following general requirements: 1. an operating company with revenue from the sale of goods or services; 2. a non-operating company with financial resources to carry out its business for 12 months following listing, subject to a minimum of $200,000 in working capital at the time of listing, and have advanced to a stage of development; or 3. a company that is listed on an exchange in Canada and is not proposing a transaction or change that would be considered a fundamental change or change of business, provided that the company has the financial resources to achieve stated objectives for 12 months following listing
Float and Distribution Public float of at least 500,000 free-trading shares and consisting of at least 150 public holders28 holding at least a board lot each of the security 10% of the issued and outstanding shares held by public holders
Adequate Working Capital and Capital Structure Must have achieved revenue from the sale of goods or the delivery of services to customers Business plan and financial resources that demonstrate a reasonable likelihood of sustaining operations and achieving its objectives for 12 months following listing Minimum of $200,000 in working capital at the time of listing Must have financial resources to carry out proposed work plan or achieve stated objectives for 12 months following listing
Property Must have (a) a significant interest in its primary business or asset, (b) a history of development of the business or asset, and (c) specific objectives and milestones and financial resources necessary to achieve them Mineral Resource Title to a property (or specific means and ability to acquire interest) that is prospective for minerals on which there has been exploration previously conducted, including qualifying expenditures of at least $75,000 by the Issuer or its predecessor during the most recent 36 months and an independent report which recommends further exploration on the property, with a budget for the first phase of at least $100,000 Energy Resource Title to a property (or specific means and ability to acquire interest) on which measurable quantities of conventional energy resources have been identified or title (or specific means and ability to acquire interest) to an unproven property with prospects
Additional Requirements for Investment and Real Estate Companies Minimum net assets of (i) $2,000,000, at least 50% of which has been allocated to at least 2 specific investments; or (ii) $4,000,000 Management with a solid track record of acquiring and divesting interests in arm’s length enterprises in a manner that can be characterized as conducting an active business

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