Tag archives: private placement

Re Hemostemix Inc: Alberta Securities Commission upholds decision of TSXV in contested private placement

By Trevor Zeyl on February 27, 2017 Posted in Securities, Shareholder Activism

Following recent amendments to Canada’s takeover bid rules, private placements in the face of hostile bids have become newly controversial. Private placements in the context of proxy contests have received less attention. Yet this is somewhat surprising, because they are another facet of the same underlying question: whether regulators should allow a financing that may … Continue reading

Tactical defenses by targets: OSC and BCSC defer to target board decision to implement private placement in face of hostile bid

By Andrea Brewer and Kassy Corothers (Calgary) on November 14, 2016 Posted in Shareholder Activism

Further to our post on the Dolly Varden Silver Corp. (Dolly Varden) and Hecla Mining Co. (Hecla) decision, the Ontario and British Columbia Securities Commissions (the Commissions) recently released their reasons for their decision in July, 2016 (the Reasons) allowing Dolly Varden to proceed with a proposed private placement announced shortly after Hecla launched a … Continue reading

Evolving tactical defenses by target issuers: Private placements in response to a hostile bid

By Andrea Brewer and Kassy Corothers (Calgary) on October 13, 2016 Posted in Securities

The Ontario and British Columbia Securities Commissions (the Commissions) issued orders on July 22, 2016 allowing junior B.C.-based miner, Dolly Varden Silver Corp. (Dolly Varden), the target of a hostile takeover bid from Idaho-based Hecla Mining Co. (Hecla), to proceed with a proposed private placement, which was announced shortly after Hecla launched its hostile bid. … Continue reading

ISS Updates its Proxy Voting Guidelines for the 2015 Season

By Saeed Teebi (Toronto) on November 10, 2014 Posted in Compliance, Corporate Governance, Proxy Battles, Securities, Shareholder Activism

On November 6, 2014, Institutional Shareholder Services (ISS) released updates to its Canadian proxy voting guidelines for the 2015 proxy season. The voting guidelines are effective for meetings held on or after February 1, 2015. The following is a summary of the most significant changes. Director Elections Director Independence: ISS has made several changes to their … Continue reading