Last week, Save Canadian Mining (SCM), met with Ontario’s Capital Markets Modernization Taskforce (CMMTF) to advocate for stricter regulations on predatory short-selling for publicly listed junior-mining companies. The meeting allowed us to share information supporting our claim that IIROC’s removal of the “tick test” in 2012 has inadvertently led to disproportionate declines in mining investment in the province and across the country.
“We were thankful for the opportunity to present our ideas and our data to the taskforce, and hope the concerns presented will be taken into consideration as they prepare their recommendations to the Ontario Minister of Finance,” said Terry Lynch, CEO and Founder of SCM.
In the 2019 Fall Economic Statement, the Ontario government announced the establishment of a taskforce to review and modernize Ontario’s capital market regulations. Since its establishment, the taskforce has been asking stakeholders what changes to the current regulatory regime they would see as necessary to make the province more attractive to the global investment community. Joining us in the meeting were supportive coalition partners from the mining industry and the investment community including the president of the Ontario Mining Association, the Executive Director of the Ontario Prospectors Association, and the head of the TSX Venture Exchange.
“Appropriately regulated capital markets are good for vulnerable early-stage businesses looking to raise capital and grow in their chosen jurisdiction. They are also good for investors and people saving for their retirement or saving for their children’s education,” said Lynch. “We were pleased to showcase some of the broad base support our campaign has been able to build since we started. We had a meaningful exchange with the taskforce and trust that the facts presented will be taken in to consideration.”
SCM was launched in November of 2019 to work cooperatively with government and regulators to evaluate the impact that the removal of the “tick test” has had on the junior mining sector. We continue to build support in the mining industry, and we continue to meet with governments and regulatory agencies to raise awareness for a segment of the economy that has been a target for predatory short-selling in the past.
About Save Canadian Mining
Save Canadian Mining is a not-for-profit, issue-based advocacy group representing the interests of Canada’s junior mining industry and the investment community. Founded in September 2019 by Terry Lynch, CEO of Chilean Metals Inc, Save Canadian Mining is committed to working with governments and agencies to amend regulations in capital markets to help generate investment in Canada’s junior mining industry. For more information visit savecanadianmining.com
For more information or to schedule an interview, contact:
Terry Lynch, CEO and Founder, Save Canadian Mining