TSX | TSXV Guide to Listing 2026 41 The foregoing is a summary of the applicable listing requirements only. For detailed listing requirements, refer to the TSX Company Manual and the TSX Venture Exchange Corporate Finance Manual which are available at tmx.com. The listing requirements above must be met at the time of listing. Any funds raised or transactions closing concurrent with listing contribute to the company meeting the listing requirements. 1 “significant interest” means at least 50% interest. LISTING REQUIREMENTS Industrial, Technology & Life Sciences Companies TSXV Industrial Technology & Life Sciences Real Estate or Investment TSXV Tier 1 TSXV Tier 2 TSXV Tier 1 TSXV Tier 2 Net Tangible Assets, Revenue or Arm’s Length Financing (as applicable) $5,000,000 net tangible assets or $5,000,000 revenue. Two years of management prepared financial forecasts and assumptions. $750,000 net tangible assets or $500,000 in revenue or $2,000,000 Arm’s Length Financing. Two years of management prepared financial forecasts and assumptions. Real Estate: $5,000,000 net tangible assets. Investment: $10,000,000 net tangible assets. $2,000,000 net tangible assets or $3,000,000 Arm’s Length Financing. Working Capital & Financial Resources Adequate working capital and financial resources to carry out stated work program or execute business plan for 18 months following listing; $200,000 unallocated funds. Adequate working capital and financial resources to carry out stated work program or execute business plan for 12 months following listing; $100,000 unallocated funds. Adequate working capital and financial resources to carry out stated work program or execute business plan for 18 months following listing; $200,000 unallocated funds. Adequate working capital and financial resources to carry out stated work program or execute business plan for 12 months following listing; $100,000 unallocated funds. Property Issuer has significant interest in business or primary asset used to carry on business. Real Estate: Issuer has significant interest1 in real property. Investment: No requirement. Prior Expenditures & Work Program History of operations or validation of business. Real Estate: No requirement. Investment: Disclosed investment policy and 20% of available funds must be allocated to at least two specific investments. Real Estate: No requirement. Investment: (i) disclosed investment policy; and (ii) 50% of available funds must be allocated to at least two specific investments. Management & Board of Directors Management, including board of directors, should have adequate experience and technical expertise relevant to the company’s business and industry as well as adequate public company experience in Canada or similar jurisdiction. Companies are required to have at least two independent directors, a Chief Executive Officer (CEO), a Chief Financial Officer who is not also the CEO, and a Corporate Secretary. Distribution, Market Capitalization & Public Float Public float of 1,000,000 shares; 250 public shareholders each holding a board lot and having no resale restrictions on their shares; 20% of issued and outstanding shares in the hands of public shareholders. Public float of 500,000 shares; 200 Public Shareholders each holding a board lot and having no resale restrictions on their shares; 20% of issued and outstanding shares in the hands of public shareholders. Public float of 1,000,000 shares; 250 public shareholders each holding a board lot and having no resale restrictions on their shares; 20% of issued and outstanding shares in the hands of public shareholders. Public float of 500,000 shares; 200 public shareholders each holding a board lot and having no resale restrictions on their shares; 20% of issued and outstanding shares in the hands of public shareholders.
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