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remind everyone who said this ?
"The TSX placed us as tier 3 which is the highest level and is for Investment company. So its quite interesting we are seen as tier two and also site in the tier 3. The investment comes from us earning client equities. Their 3 requires CAD$2 M in investment which we now have.
So we will file a tier 3 prospectus . We are advanced on the majority of the prospectus reading by regulator and exchange."
Tier 3 ? lol !!
The Condorman, why do you bother? You know nothing, and every time you post trying to catch out SB you trip up.
Bromley is correct having proposed listing tier 2” Investment" Page 4 TSX listing Policy 2.1
https://tsx.com/resource/en/421
This requires $2,000,000 in investments or $3,000,000 in financing. CIC meets both.
Check your facts on Sedar please do not post and show yourself up. You are not a lawyer, and the prospectus has been checked by lawyers. So, now, what is your point?
"The TSX placed us as tier 3 which is the highest level and is for Investment company. So its quite interesting we are seen as tier two and also site in the tier 3. The investment comes from us earning client equities. Their 3 requires CAD$2 M in investment which we now have.
So we will file a tier 3 prospectus . We are advanced on the majority of the prospectus reading by regulator and exchange."
this is quite astonishing. Stewie says they were placed in Tier 3.. and he says "which is the highest level".
Well that's blatant b/s. As there are only two tiers. The highest one is Tier 1 (aimed at larger more established companies) and Tier 2 is the next one down (for companies are generally early stage or junior companies).
Yet SB said they were given this imaginary highest Tier of 3 ?
1) no such tier exists
2) the highest tier is tier 1 not some imaginary tier 3
if he can't get basic facts correct.. how the heck is the company claiming to provide advisory service for other companies wanting to list.
I can smell nasty bovine by product. SB just makes it up as he goes along.
If there was a perfect metaphor of 'stringing along'. shareholders.. then this is it.
Thanks Konar, that makes sense.
SB has confirmed to me by email that it is a Tier 2 listing application. Renewed prospectus is due to be published on Sedar in the next couple of weeks.
also the grammar in that post was very broken at times..i have my suspicions..
There are 2 tiers and CSE, maybe it's the CSE to which SB referring although it really is a minnow exchange.
this post doesn't make sense to me. There are only 2 formal tiers on the TSXV, with Tier 1 being the highest and Tier 2 being lower. Tier 3 (which i struggle to find reference to) seems to be the equivalent of an OTC market.
Could we get some clarification on this?
An accurate and encouraging update update re CICCapital.
This places CICCapital in a unique position for company listings and securitisation. As stated the prospectus had to be revamped to reflect the influx of cash and securities. This should be reflected in a higher strike price on listing. Plus, i will be hoping for an early dividend. So a win-win situation. Plus there are many companies waiting for CICCapital’s services. This will be started immediately following Listing. As each separate company is taken on by CICCAPITAL, it will be taken on with cash and securities. So, hopefully a continuous flow of cash and shares into the CICCapital treasure chest, reflected by more dividends. Just waiting for final stages to be completed by regulators and TSX.
Can't see that myself but to be honest I'll be thrilled to even get listed again after all this time. Wasn't there once some talk of a London listing once we have got the TSX one sorted? If that ever happens then we should be ok with the ISA hopefully.
Does anyone think we'd will ever be able to get this back into an isa :) ?
The Company will be filing shortly an updated prospectus to reflect recent income and shares received by client companies. This was required as we are applying for a listing on TSX tier two which requires only CAD$700,000 in revenue/cash.
The TSX under their listing policy 2.1 can change this if they desire. Should be noted no advisory services company has qualified for a TSX listing so once again CIC is aiming to be the first.
The TSX placed us as tier 3 which is the highest level and is for Investment company. So its quite interesting we are seen as tier two and also site in the tier 3. The investment comes from us earning client equities. Their 3 requires CAD$2 M in investment which we now have.
So we will file a tier 3 prospectus . We are advanced on the majority of the prospectus reading by regulator and exchange.
How much longer this will take is really up to the readers of the prospectus and the exchange.
On our board is Canadian Securities lawyer David Toyoda whom has been with us since 2003 in other companies. Also on the board is Sandey Wang as CFO also based in Canada and been with us since 2005. So solid Canadian based there.
We are looking a at Fortune 500 ex CFO to join our board as our business clients and standing far out ways Sandey level.
We have added 3 staff in Luxembourg to support the securitisation business and we are the only non bank set up and approved for securitisation services. Since 2015 we have been at it in Luxembourg as it was note that the Luxembourg regulator would remove the need to be regulated securitisation investment for professional investors. That was a game changer and in came into force in Nov 2018. We were totally setup and now this will and is delivery very large client fees.
CIC is also developing Middle East and this will come on line in about 3 years.
CIC is never standing still, we are positioning our selves to be aggressive.