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Generating
National Policy 51-201 Disclosure Standards
Part IV Materiality
Section 4.3

Examples of Potentially Material Information

The following are examples of the types of events or information which may be material. This list is not exhaustive and is not a substitute for companies exercising their own judgement in making materiality determinations.

Changes in Corporate Structure

Changes in Capital Structure

  • the public or private sale of additional securities
  • planned repurchases or redemptions of securities
  • planned splits of common shares or offerings of warrants or rights to buy shares
  • any share consolidation, share exchange, or stock dividend
  • changes in a company’s dividend payments or policies
  • the possible initiation of a proxy fight
  • material modifications to rights of security holders

Changes in Financial Results

  • a significant increase or decrease in near-term earnings prospects
  • unexpected changes in the financial results for any periods
  • shifts in financial circumstances, such as cash flow reductions, major asset writeoffs or write-downs
  • changes in the value or composition of the company’s assets
  • any material change in the company’s accounting policy

Changes in Business and Operations

  • any development that affects the company’s resources, technology, products or markets
  • a significant change in capital investment plans or corporate objectives
  • major labour disputes or disputes with major contractors or suppliers
  • significant new contracts, products, patents, or services or significant losses of contracts or business
  • significant discoveries by resource companies
  • changes to the board of directors or executive management, including the departure of the company’s CEO, CFO, COO or president (or persons in equivalent positions)
  • the commencement of, or developments in, material legal proceedings or regulatory matters
  • waivers of corporate ethics and conduct rules for officers, directors, and other key employees
  • any notice that reliance on a prior audit is no longer permissible
  • de-listing of the company’s securities or their movement from one quotation system or exchange to another

Acquisitions and Dispositions

  • significant acquisitions or dispositions of assets, property or joint venture interests
  • acquisitions of other companies, including a take-over bid for, or merger with, another company

Changes in Credit Arrangements

  • the borrowing or lending of a significant amount of money
  • any mortgaging or encumbering of the company’s assets
  • defaults under debt obligations, agreements to restructure debt, or planned enforcement procedures by a bank or any other creditors
  • changes in rating agency decisions
  • significant new credit arrangements