TORONTO--(BUSINESS WIRE)--Aequitas NEO Exchange Inc. (“NEO Exchange” or “NEO”) is pleased to announce it has received designated offshore securities market status from the United States Securities and Exchange Commission (“SEC”). As of January 5, 2017, NEO listed companies and their shareholders can rely on certain safe harbors provided by Regulation S under the Securities Act of 1933 (the “1933 Act”).
“We are very pleased to receive the SEC designated offshore securities market status,” stated Jos Schmitt, President and Chief Executive Officer, NEO Exchange. This is an important milestone to ensure NEO-listed securities are available to the broadest possible audience. With this status, we look forward to continued growth of our listings business.”
Rule 903 of Regulation S provides a safe harbor for offers and sales of securities by issuers and others in offshore transactions and to non-US persons, without registration under the 1933 Act. For shareholders, Rule 904 of Regulation S provides a safe harbor for resales of securities on the NEO Exchange, as the designated offshore securities market status allows such transactions to qualify as offshore transactions under the 1933 Act.
“Receiving this SEC status is a major achievement for the NEO Exchange,” added Hon. Michael Wilson, Chairman, Barclays Canada, and a director of Aequitas Innovations Inc. and former Canadian Finance Minister and Ambassador to the United States. “This designation speaks to the high caliber regulatory framework of NEO, governing its structure, organization, and reporting standards. Corporations can feel confident considering the NEO Exchange as a listing venue of choice.”
About NEO Exchange
Aequitas NEO Exchange Inc. is a new Canadian stock exchange using a bold new blueprint that puts investors, businesses looking to raise capital and dealers first. Launched in March 2015, the NEO Exchange currently offers an innovative trading venue and a value added listing venue for capital raising companies and investment products. The NEO Exchange is a wholly owned subsidiary of Aequitas Innovations Inc., a company founded by a diverse group of prominent investors representative of all Canadian capital market stakeholders. For more information, please visit: www.aequitasneoexchange.com
Join us on social media: twitter | linkedin | facebook