Mining Prospects Trends and Developments in Mining Law in Canada and Internationally

Tag Archives: securities

Lessons from an Historic Mining IPO

Posted in Mining

The recently completed initial public offering by Nexa Resources S.A. (formerly, Votorantim Metais) on the Toronto Stock Exchange (the TSX) and the New York Stock Exchange has received considerable attention from capital markets participants and the financial press for its size (US$570 million, including the exercise of the over-allotment option) and for the large and impressive underwriting syndicate. Nexa’s IPO was the largest mining IPO on the TSX of a Latin American company, it was Canada’s 3rd largest mining IPO ever and the largest mining IPO in Canada over the last decade!  The IPO is also noteworthy for … Continue Reading

TSX Overruled: OSC Requires Approval of HudBay Shareholders in Proposed Acquisition of Lundin

Posted in Corporate Governance and Continuous Disclosure, M&A

On January 23, 2009, the Ontario Securities Commission (OSC) exercised its seldom-used statutory power to overturn a decision of the Toronto Stock Exchange (TSX). The OSC issued an order requiring HudBay Minerals Inc. to obtain the approval of the HudBay shareholders prior to proceeding with the issuance of HudBay common shares in connection with the then-proposed acquisition of Lundin Mining Corporation. The TSX’s Listing Committee had previously determined that it would not require HudBay to obtain shareholder approval in granting listing approval for the HudBay common shares to be issued to Lundin shareholders as consideration for the acquisition. The OSC … Continue Reading

Regulatory Roundup

Posted in Corporate Finance, Corporate Governance and Continuous Disclosure, Litigation, M&A, Tax

Set out below is a list of recent initiatives and decisions of Canadian securities regulatory authorities and courts that we believe would be of interest to mining companies and their public markets advisors. Please contact us if you would like additional information about any of these items.

  • The Canadian Securities Administrators (the CSA) have harmonized the form (and filing) requirements for prospectuses through the implementation of National Instrument 41-101 General Prospectus Requirements.
  • The CSA have released CSA Staff Notice 52-321 Early Adoption of International Financial Reporting Standards, use of U.S. GAAP and reference to IFRS-IASB.
  • The CSA published
Continue Reading

Regulatory Roundup

Posted in Aboriginal and Environmental Issues, Corporate Finance, Corporate Governance and Continuous Disclosure, Litigation, M&A

Set out below is a list of recent initiatives and decisions of Canadian securities regulatory authorities and courts that we believe would be of interest to mining companies and their public markets advisors. Please contact us if you would like additional information about any of these items.

  • The Canadian Securities Administrators (the CSA) — with the exception of the Ontario Securities Commission (the OSC) — have implemented a securities passport system, and have introduced a streamlined review process for the “passport” jurisdictions and for Ontario when dealing with prospectuses and applications for exemptive relief.
  • The CSA have substantially harmonized their
Continue Reading