The Securities Commission granted McEwen Mining Inc. (the Filer) an exemption from the prospectus requirement for certain marketing activities in connection with future offerings under a Multijurisdictional Disclosure System (MJDS) base shelf prospectus. This exemption allows investment dealers, acting as underwriters or selling group members, to use standard term sheets, marketing materials, and conduct road shows that are typically permitted under Part 9A of National Instrument 44-102 Shelf Distributions (NI 44-102) but are not explicitly allowed by National Instrument 71-101 The Multijurisdictional Disclosure System (NI 71-101).
The exemption was granted under the condition that these marketing activities comply with the approval, content, use, and other conditions and requirements of Part 9A of NI 44-102, as if the MJDS base shelf prospectus was a final base shelf prospectus under NI 44-102. The decision is based on the securities legislation of Ontario, specifically paragraph 74(1)2 of the Securities Act (Ontario).
The Filer is a corporation incorporated under Colorado law, with its head office in Toronto, Ontario, and is a reporting issuer in multiple Canadian jurisdictions. The Filer has filed a registration statement with the U.S. Securities and Exchange Commission and intends to file a final MJDS prospectus in Canadian jurisdictions other than Québec.
The Ontario Securities Commission, acting as the principal regulator, approved the exemption with the intention to rely on Multilateral Instrument 11-102 Passport System in several other Canadian provinces. The decision is made under the conditions that any road shows, standard term sheets, and marketing materials will adhere to the same standards as those required under NI 44-102.