U.S. Companies - 2023 Guide to Listing

2023 GUIDE TO LISTING 2023 GUIDE TO LISTING 20 21 Once you have determined that you are ready to go public, understood the best structure, and have spoken with Canadian capital providers on the viability of raising capital in Canada, the next steps to listing include determining which exchange (TSX or TSXV) to list on, the best method of listing, and selecting your going public team. STEP 1 DETERMINE THE MARKET FOR YOUR BUSINESS Listing on TSXV Listing on TSX Venture Exchange is an option for companies looking to access public venture capital to facilitate their growth. Companies listed on TSXV are provided with the opportunity to gain a solid foothold in the public market, with the potential to work towards graduation to TSX and access to larger pools of capital. TSXV has listing requirements that are tailored to a company’s industry sector, stage of development, financial performance and operational resources. Listing on TSX Listing on Toronto Stock Exchange is an option for growth-oriented companies with strong performance track records. TSX is globally recognized as a leading international stock exchange, known for its standards of fairness and innovative approach to trading. TSX provides companies with a dynamic market in which to raise capital, while offering a range of benefits that include enhanced liquidity, specialized indices, visibility and analyst coverage. • Market for established businesses and management teams with experience in public markets. • Access to international institutional investors. • Globally visible indices utilized by investors. • Corporate governance appropriate for established issuers. • 170-year history. • Respected, leading global exchange. • Access to capital for early-stage companies and smaller financings (typical financing range: $2 million to $20 million). • Extensive mentorship program for newly public companies. • Streamlined graduation to TSX. • Tailored listing and corporate governance requirements for small-cap companies. • Access to investment banking support for financing and acquisitions as well as research to support the company’s investor base. WHY LIST ON TSX? WHY LIST ON TSXV? STEPS TO LISTING