2014

TSX Venture Exchange Daily Bulletins

VANCOUVER, May 9, 2013 /CNW/ -

TSX VENTURE COMPANIES:

BULLETIN TYPE: Notice to Issuers
BULLETIN DATE: May 9, 2013

Re:  Changes to Auditor Independence Rules Proposed by the Canadian Institute of Chartered Accountants

Overview:

The purpose of this Bulletin is to notify Issuers of proposed changes to the existing auditor independence rules that are currently being considered by the Canadian Institute of Chartered Accountants (the "CICA").  This is an initiative of the CICA and not TSXV Venture Exchange (the "TSXV" or the "Exchange"), however, given that the proposed changes may potentially have an impact on a number of Exchange-listed Issuers, the Exchange is encouraging Issuers and their auditors to review and understand the potential impact of the proposed changes and consider providing any comments or concerns to the CICA.

Summary of CICA Initiative:

Earlier this year, the CICA published an Exposure Draft on Independence Standards prepared by its Independence Task Force.  The Exposure Draft proposes certain revisions to the existing auditor independence standards within the profession's Rules of Professional Conduct.  In brief, at present auditors for reporting issuers that do not have either a market capitalization or total assets in excess of $10 million are exempt from certain of the more restrictive auditor independence requirements.  These include requirements related to partner rotation and the provision of non-audit services to Issuers (such as tax assistance).  The CICA's Independence Task Force is recommending that this exemption be removed such that all reporting issuers (regardless of their size) be subject to the same auditor independence rules.

The proposed revisions have been published for public comment with the comment period expiring on May 31, 2013.  The full particulars of the CICA's proposal including a copy of the Exposure Draft on Independence Standards prepared by the CICA's Independence Task Force are available at the following webpage:

http://www.cica.ca/about-cica-and-the-profession/protecting-the-public-interest/independence-requirements/item36957.aspx

TYPE DE BULLETIN : Avis aux émetteurs
DATE DU BULLETIN : Le 9 mai 2013

Objet : Projet de modification des normes d'indépendance de l'auditeur présenté par l'Institut Canadien des Comptables Agréés

Aperçu:

Le présent bulletin vise à informer les émetteurs du projet de modification des normes d'indépendance de l'auditeur qu'étudie actuellement l'Institut Canadien des Comptables Agréés (l'« ICCA »). Bien qu'il s'agisse d'une initiative de l'ICCA et non de la Bourse de croissance TSX, comme ce projet est susceptible d'avoir une incidence sur un certain nombre d'émetteurs inscrits à sa cote, la Bourse de croissance TSX invite les émetteurs et leurs auditeurs à faire part à l'ICCA de leurs commentaires et de leurs préoccupations à ce sujet.

Résumé du projet de l'ICCA:

Plus tôt cette année, l'ICCA a publié un exposé-sondage sur les normes d'indépendances rédigé par son Groupe de travail sur l'indépendance. Ce dernier propose d'apporter certaines modifications aux normes d'indépendance de l'auditeur actuelles prévues au Code de déontologie harmonisé de la profession. En résumé, les auditeurs d'émetteurs assujettis dont la capitalisation boursière ou l'actif total ne dépasse pas 10 millions de dollars sont actuellement exemptés de certaines des exigences d'indépendance les plus strictes. Celles-ci comprennent les exigences liées à la rotation des associés et à la prestation de services autres que ceux d'audit aux émetteurs (par exemple l'assistance en matière de fiscalité). Le Groupe de travail sur l'indépendance de l'ICCA recommande l'abolition de ce seuil d'exemption de sorte que tous les émetteurs assujettis, quelle que soit leur taille, soient assujettis aux mêmes normes d'indépendance de l'auditeur.

Le projet de modification a été publié aux fins d'appel à commentaires du public, la période de consultation se terminant le 31 mai 2013. Le détail complet du projet de l'ICCA, y compris un exemplaire de l'exposé-sondage sur les normes d'indépendance rédigé par le Groupe de travail sur l'indépendance de l'ICCA, est publié à l'adresse suivante :

http://www.icca.ca/licca-et-la-profession/protection-de-linteret-public/exigences-en-matiere-d-independance/item36974.aspx

_____________________________

BULLETIN TYPE:  Cease Trade Order
BULLETIN DATE:  May 8, 2013
TSX Venture Companies

A Cease Trade Order has been issued by the British Columbia Securities Commission on May 8, 2013 against the following companies for failing to file the documents indicated within the required time period:

Symbol            Tier            Company            Failure to File            Period
                                                Ending
                                                (Y/M/D)
                                                 
AHC                      Artha Resources Corporation            A comparative financial statement            
                                    for its financial year ended            12/12/31
                                                 
                                    A Form 51-102F1 Management's            
                                    Discussion and Analysis for the            
                                    period ended            12/12/31
                                                 
FS                      First Star Resources Inc.            A comparative financial statement            
                                    for its financial year ended            12/12/31
                                                 
                                    A Form 51-102F1 Management's            
                                    Discussion and Analysis for the            
                                    period ended            12/12/31
                                                 
GXG                      G4G Resources Ltd.            A comparative financial statement            
                                    for its financial year ended            12/12/31
                                                 
                                    A Form 51-102F1 Management's            
                                    Discussion and Analysis for the            
                                    period ended            12/12/31
                                                 
MCG                      Mountain China Resorts            A comparative financial statement            
                        (Holding) Limited            for its financial year ended            12/12/31
                                                 
                                    A Form 51-102F1 Management's            
                                    Discussion and Analysis for the            
                                    period ended            12/12/31
                                                 
QGR                      Q-Gold Resources Ltd.            A comparative financial statement            
                                    for its financial year ended            12/12/31
                                                 
                                    A Form 51-102F1 Management's            
                                    Discussion and Analysis for the            
                                    period ended            12/12/31
                                                 
SRH                      Stone Resources Limited            A comparative financial statement            
                                    for its financial year ended            12/12/31
                                                 
                                    A Form 51-102F1 Management's            
                                    Discussion and Analysis for the            
                                    period ended            12/12/31
                                                 
TZT                      Tranzeo Wireless Technologies            A comparative financial statement            
                        Inc.            for its financial year ended            12/12/31
                                                 
                                    A Form 51-102F1 Management's            
                                    Discussion and Analysis for the            
                                    period ended            12/12/31
                                                 
WCU                      WestCan Uranium Corp.            A comparative financial statement            
                                    for its financial year ended            12/12/31
                                                 
                                    A Form 51-102F1 Management's            
                                    Discussion and Analysis for the            
                                    period ended            12/12/31
                                                 

Upon revocation of the Cease Trade Orders, the companies' shares will remain suspended until the companies meet TSX Venture Exchange requirements.  Members are prohibited from trading in the securities of the companies during the period of the suspension or until further notice.

________________________________________

BULLETIN TYPE:  Cease Trade Order
BULLETIN DATE:  May 8, 2013
NEX Company

A Cease Trade Order has been issued by the British Columbia Securities Commission on May 8, 2013 against the following company for failing to file the documents indicated within the required time period:

Symbol           Tier           Company           Failure to File           Period
                                                Ending
                                                (Y/M/D)
UCM.H           NEX           Upper Canyon Minerals Corp.           A comparative financial statement            
                                    for its financial year ended            12/12/31
                                                 
                                    A Form 51-102F1 Management's            
                                    Discussion and Analysis for the            
                                    period ended            12/12/31
                                                 

Upon revocation of the Cease Trade Order, the Company's shares will remain suspended until the Company meets TSX Venture Exchange requirements.  Members are prohibited from trading in the securities of the Company during the period of the suspension or until further notice.

________________________________________

BROWNSTONE ENERGY INC. ("BWN")
BULLETIN TYPE:  Property-Asset or Share Disposition Agreement
BULLETIN DATE:  May 9, 2013
TSX Venture Tier 2 Company

TSX Venture Exchange (the "Exchange") has accepted for filing documentation pertaining to an Acquisition Agreement (the "Agreement"), dated May 6, 2013, between Brownstone Energy Inc. (the "Company") and Petrominerales Ltd. (the "Purchaser"), whereby the Company has agreed to sell its 25% private participating interest in the Canaguaro Block (the "Property"), located in the Llanos basin of Colombia, for total consideration of US$6,000,000.

Upon completion of the transaction the Company will continue to hold its private participating interests in two other blocks in the Llanos basin of Colombia -- LLA27 and LLA36, and its option on block LLA21.

For further details, please refer to the Company's news release dated May 7, 2013.

________________________________________

CARIBOU KING RESOURCES LTD. ("CKR")
BULLETIN TYPE:  Shares for Services
BULLETIN DATE: May 9, 2013
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing the Company's proposal to issue 300,000 shares at a deemed price of $0.05 per share, in consideration of certain services provided to the Company pursuant to an agreement dated March 20, 2013.

            Insider=Y /            Amount            Deemed Price            
Creditor            Progroup=P            Owing             per Share            # of Shares
Byron Capital Markets Ltd.                      $15,000            $0.05            300,000
                                                 

The Company shall issue a news release when the shares are issued.

________________________________________

GOLDEN ARROW RESOURCES CORPORATION ("GRG")
BULLETIN TYPE:  Resume Trading
BULLETIN DATE:  May 9, 2013
TSX Venture Tier 2 Company

Effective at 7:30 a.m., PST, May 9, 2013, shares of the Company resumed trading, an announcement having been made.

________________________________________

ICO THERAPEUTICS INC. ("ICO")
BULLETIN TYPE:  Halt
BULLETIN DATE:  May 9, 2013
TSX Venture Tier 2 Company

Effective at 12:53 p.m., PST, May 9, 2013, trading in the shares of the Company was halted at the request of the Company, pending news. This regulatory halt is imposed by Investment Industry Regulatory Organization of Canada, the Market Regulator of the Exchange pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules.

________________________________________

KLONDIKE SILVER CORP. ("KS")
BULLETIN TYPE:  Private Placement-Non-Brokered
BULLETIN DATE:  May 9, 2013
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation with respect to the first tranche of a Non-Brokered Private Placement announced March 18, 2013 and April 23, 2013:

Number of Shares:                4,455,000 non-flow-through shares
                40,000 flow-through shares
                 
Purchase Price:                $0.10 per non-flow-through share
                $0.15 per flow-through shares
                 
Warrants:                4,455,000 share purchase warrants to purchase 4,455,000 shares at
$0.15 per share for a four year period (non-flow-through units)
                 
                40,000 share purchase warrants to purchase 40,000 non-flow-through
shares at $0.20 per share for a four year period. (flow-through units)
                 
Number of Placees:                7 placees
                 
Insider / Pro Group Participation:                        
            Insider=Y /            
Name            ProGroup=P            # of Shares
                         
Richard Hughes                      1,560,000 nf/t
Hastings Management Corp. (Richard Hughes)                      1,950,000 nf/t
Darcy Hughes                      45,000 nf/t
                         

Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.

________________________________________

LOYALIST GROUP LIMITED ("LOY")
BULLETIN TYPE:  Private Placement-Brokered-Non-Brokered
BULLETIN DATE:  May 9, 2013
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation with respect to a Brokered and Non-Brokered Private Placements announced April 18, 2013 and April 23, 2013:

Number of Shares:                24,453,365 shares
Purchase Price:                $0.54 per share
Number of Placees:                126 placees
                 

Insider / Pro Group Participation:    
     
  Insider=Y /  
Name  ProGroup=P  # of Shares
     
935476 Ontario Ltd. (Martin Bernholtz)  475,000
Aggregate Pro Group Involvement  859,580
[7 placees]    
     
Agent's Fee:  An aggregate of $414,033 in cash and 638,940 broker warrants payable to
Cormark Securities Inc. and Clarus Securities Inc.  Each broker warrant
entitles the holder to acquire one common share at $0.54 until October 23,
2014.
   

For further details, please refer to the Company's news releases dated April 18, 2013 and April 23, 2013.

________________________________________

MARKSMEN ENERGY INC. ("MAH")
BULLETIN TYPE:  Private Placement-Non-Brokered
BULLETIN DATE:  May 9, 2013
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced February 26, 2013:

Number of Shares:                2,051,767 shares
                 
Purchase Price:                0.15 per unit
                 
Warrants:                1,025,885 share purchase warrants to purchase 1,025,885 shares
                 
Warrant Exercise Price:                0.30 for a one year period 
                 
Number of Placees:                14 placees
                 
Insider / Pro Group Participation:                        
                         
            Insider=Y /            
Name            ProGroup=P            # of Units
                         
Archibald Jonathon Nesbitt Professional Corp. (Archibald Nesbitt)                      295,000
Archibald Nesbitt                      150,000
John McIntyre                      245,000
                         
No Finder's Fee                        
                         

Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly.

________________________________________

MIDNIGHT SUN MINING CORP. ("MMA")
BULLETIN TYPE:  Remain Halted
BULLETIN DATE:  May 9, 2013
TSX Venture Tier 2 Company

Further to the TSX Venture Exchange ('TSXV') Bulletin dated May 6, 2013, effective at 9:55 a.m., May 9, 2013, trading in the shares of the Company will remain halted pending receipt and review of acceptable documentation regarding the Fundamental Acquisition pursuant to TSXV Listings Policy 5.6(d) of Exchange Policy 5.3.  This regulatory halt is imposed by Investment Industry Regulatory Organization of Canada, the Market Regulator of the Exchange, pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules.

________________________________________

NEWNORTH PROJECTS LTD. ("NNP")
BULLETIN TYPE:  Property-Asset or Share Disposition Agreement
BULLETIN DATE:  May 9, 2013
TSX Venture Tier 1 Company

TSX Venture Exchange has accepted for filing documentation pursuant to a Purchase and Sale Agreement dated February 12, 2013 and amended March 14, 2013 ( the "Agreement"), between the Company and a private arm's length company ( the "Purchaser").  As per the terms of the Agreement, the Company is sold its interest in the Kinniburgh south Limited Partnership which holds development property near Chestermere, Alberta.  In consideration, the Purchaser paid the Company $3.5 million cash.

________________________________________

NOBLE IRON INC. ("NIR")
BULLETIN TYPE:  Private Placement-Non-Brokered
BULLETIN DATE:  May 9, 2013
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced March 26, 2013:

Number of Shares:                3,846,154 shares
                 
Purchase Price:                $1.30 per share
                 
Number of Placees:                36 placees
                 
Insider / Pro Group Participation:                        
                         
            Insider=Y /            
Name            ProGroup=P            # of Shares
                         
William Palmer                      76,923
Ronald Schwarz                      40,000
Malcolm Hunter                      40,000
Inkredible Holdings Inc. (Iqbal Kassam)                      1,153,840
Manji Investments Limited (Samir Manji)                      40,000
Aggregate Pro Group Involvement                      38,462
[1 placee]                        
                         
Finder's Fee:                None payable
                 

Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly.

________________________________________

PHOTON CONTROL INC. ("PHO")
BULLETIN TYPE:  Normal Course Issuer Bid
BULLETIN DATE:  May 9, 2013
TSX Venture Tier 2 Company

TSX Venture Exchange has been advised by the Company that pursuant to a Notice of Intention to make a Normal Course Issuer Bid dated May 1, 2013, it may repurchase for cancellation, up to 5,000,000 shares in its own capital stock.  The purchases are to be made through the facilities of TSX Venture Exchange during the period May 8, 2013 to May 7, 2014.  Purchases pursuant to the bid will be made by Canaccord Genuity Corp. on behalf of the Company.

________________________________________

RAINY MOUNTAIN ROYALTY CORP. ("RMO")
BULLETIN TYPE:  Private Placement-Non-Brokered
BULLETIN DATE:  May 9, 2013
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced March 12, 2013:

Number of Shares:            8,070,000 shares
             
Purchase Price:            $0.05 per share
             
Warrants:            8,070,000 share purchase warrants to purchase 8,070,000 shares
             
Warrant Exercise Price:            $0.10 for a five year period
             
Number of Placees:            8 placees
             
Insider / Pro Group Participation:                        
            Insider=Y /            
Name            ProGroup=P            # of Shares
Criterion Capital Corporation (Douglas Mason)                      2,000,000
Aggregate Pro Group Involvement                         850,000 
[4 placees]                        
                         
Finder's Fee:            $250 plus 5,000 finder's warrants is payable to Wolverton Securities Ltd.
            $25,000 plus 500,000 finder's warrants is payable to Sprott Global
Resource Investments Ltd.
            $2,000 plus 40,000 finder's warrants is payable to Haywood Securities Inc.
             

Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly.

________________________________________

TRUE GOLD MINING INC. ("TGM")
BULLETIN TYPE:  Private Placement-Non-Brokered
BULLETIN DATE:  May 9, 2013
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced May 8, 2013 and May 9, 2013:

Number of Shares:                30,303,303 shares
                 
Purchase Price:                $0.33 per share
                 
Number of Placees:                1 placee
                 
Insider / Pro Group Participation:            
             
            Insider=Y /
Name            ProGroup=P
             
Teck Resources Limited            Y
             

Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly.

________________________________________

THOR EXPLORATIONS LTD. ("THX")
BULLETIN TYPE:  Private Placement-Non-Brokered
BULLETIN DATE:  May 9, 2013
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced April 30, 2013:

Number of Shares:                9,713,583 shares
                 
Purchase Price:                $0.16 per share
                 
Number of Placees:                6 placees
                 
Insider / Pro Group Participation:                        
                         
            Insider=Y /            
Name            ProGroup=P            # of Shares
                         
Olusegun Lawson                      3,125,000
                         
Finders' Fees:                $22,230 payable to Kinda Associates Ltd.
                $6,250 payable to Adeyinka Lawson.
                 

Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly.

________________________________________

ZINCO MINING CORP. ("ZIM")
BULLETIN TYPE:  Private Placement-Non-Brokered
BULLETIN DATE:  May 9, 2013
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced April 16, 2013:

Number of Shares:            1,000,000 shares
             
Purchase Price:            $0.10 per share
             
Warrants:            500,000 share purchase warrants to purchase 500,000 shares
             
Warrant Exercise Price:            $0.15 for a one year period
             
Number of Placees:            2 placees
             

Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly.

________________________________________

SOURCE TSX Venture Exchange



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