Thu, Jul 15, 2021 at 10:00 AM
Eastern Time (US & Canada)
Save Canadian Mining has been lobbying the Ontario Government for over two years now to make regulatory changes to the Ontario Securities Act to eliminate predatory short selling.
The recent Task Force on Modernization of the Ontario Securities Act after deliberations of over a year and with several interactions with Save Canadian Mining, have recommended two rule changes which would be a major step forward in SCM's goal of eliminating predatory short selling.
The two steps are:
1. A prohibition of investors in private placements from using the private placement to cover a short position in the security.
2. A recommendation that Ontario adopt the coming new European standard in respect to settlement. Currently, the settlement system allows for trades to settle in 2 days but allows for an additional 10 day period before the trade is declared a failed trade. The new proposal would reduce this wait from 10 days to 4 days and would require at the end of 4 days definitive action to take place. Either shares would be delivered, a contracted borrow was obtained and verified or the investor who failed to deliver the security would be bought in by the broker who handled the trade.
At this point these are recommendations and as of yet are not in any legislation. The government has indicated an interest in seeing this done in the Calendar year. SCM's mission is to continue to lobby the government to ensure this takes place.
To this end, Save Canadian Mining believes that a series of webinars and public opportunities will be helpful in keeping the issue front and center.
About Save Canadian Mining: Save Canadian Mining is a movement to return market rules to the fair and transparent standard that helped deliver prosperity for over 142 years. Together, we can save Canadian mining.
Anyone with the event link can attend
Dial-in available (listen only)
Dial-in Number: +1 (312) 248-9348
Dial-in Passcode: 6746
Terry LynchFounding Member of Save Canadian MiningTerry is the CEO of Chilean Metals Inc. and a Co-Founder and Director of Cardiol Therapeutics.
Mr. Lynch has had almost 30 years experience in sales, marketing, business start-ups and turnarounds. He has taken three companies public and been involved with several private to public merger transactions. His objective is to use his experience and network and capital to help small to medium size companies grow to the next level.
Henry BoydPrincipal at Stosic & AssociatesHenry brings over 15 years public and private sector experience to his role as Principal at Stosic & Associates. From 2008 to 2017 Henry was a senior business consultant, helping organizations — from large publicly traded global manufacturers to not-for-profits and emerging innovative small businesses — position themselves in the public and within their respective industries for accelerated growth and success.
Within the public sector, Henry has supported a former Deputy Prime Minister of Canada, a former federal Minister of Finance, a former Premier of Ontario and two former provincial Ministers of Economic Development. Through this experience, and in developing a sound knowledge of how government works at both the federal and provincial levels, Henry has successfully helped many organizations expedite favourable legislative, regulatory, policy and program decisions throughout his career.
While possessing a broad skill-set, Henry has had particular success in securing public funding through competitive programs for various organizations. Complementing this specialization, Henry has led foreign investment missions on behalf of private sector companies and continues to provide advice to various foreign-based and domestic organizations on successful market-entry strategies.
Henry is an active volunteer, and holds board and committee positions with the Canadian Advocacy Network, the Toronto Region Board of Trade, Mealshare, and with a number of early-stage technology companies and start-ups in Toronto.
Henry is a native of Ottawa, and has an MBA from the Smith School of Business (formerly the Queen’s School of Business).
Sean RoosenChair of the Board of Directors and Chief Executive Officer of Osisko Gold RoyaltiesSean Roosen is Chair of the Board of Directors and Chief Executive Officer of Osisko since June 2014.
Prior to this, Mr. Roosen was the President and CEO of Old Osisko. He has led the transition of Old Osisko from a junior exploration company to a leading intermediate gold producer. He was responsible for leading the strategic development of Old Osisko and was instrumental in securing the necessary financing to fund the development of the $1 billion Canadian Malartic Mine.
Among other awards, Mr. Roosen was a co-winner of the Prospectors and Developers Association of Canada’s “Prospector of the Year Award” for 2007, and was named, together with John Burzynski and Robert Wares as “Mining Men of the Year” for 2009 by the Northern Miner. Mr. Roosen is a Supervisory Board member of EurAsia Resource Holdings AG – a European based venture capital fund – and a director of EurAsia Resource Value SE.
Mr. Roosen also sits on the Board of Directors of the following publicly listed companies: Astur Gold Corporation, Bowmore Exploration Ltd., Condor Petroleum Inc., Dalradian Resources Inc., Falco Resources Ltd. and NioGold Mining Corporation.
Mr. Roosen is a graduate of the Haileybury School of Mines and has had various progressive positions in the mining industry both domestically and internationally.
Wayne TisdalePresident & CEO of Canadian PalladiumMr. Tisdale has 40 years of experience in investing, financing and consulting to private and public companies in the areas of mining, oil and gas, and agriculture. He runs his own bank and sits on the board of a number of private and public companies. Over his career, Mr. Tisdale has raised over $2bn of both equity and debt financing and has been instrumental in founding several highly successful companies, including Rainy River Resources (purchased by Newgold) and Ryland Oil Corporation (purchased by Crescent Point). Most recently, Mr. Tisdale was integral to the successful sale of US Cobalt to First Cobalt Corporation, creating a post-transaction cobalt company valued at almost $400 million.
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