Fortem Resources Inc fka FTMR

[RandyKCMO]

REPOST from 8/22/17: TSX Listing Requirements for Oil and Gas (Exploration or Producing) Companies:

There are a couple of tiers... but basically, this is what's required:

1. NET TANGIBLE ASSETS, EARNINGS OR REVENUE:

No Requirements. (One tier requires pre-tax cash flow of $700K or $500K for last two years.

2. WORKING CAPITAL AND FINANCIAL RESOURCES

Adequate funds to: A) execute the development plan and cover all other capital expenditures and G&A and debt service expenses for 18 months with a contingency allowance.

OR

B) bring the property into commercial production, and adequate working capitial to fund all budgeted capital expenditures and carry on the business. 18 month projection of sources and uses of funds signed by CFO, appropriate capital structure.

3. DISTRIBUTION, MARKET CAPITALIZATION AND PUBLIC FLOAT

At least 1,000,000 freely traded shares with an aggregate market value of $4,000,000 minimum 300 public holders, each with one board lot or more. Some tiers: Public Float 1,000,000 shares and 250 public shareholders (with 20% of issued/outstanding in hands of public Shareholders).

Minimum market value of the issued securities that are to be listed of at least $200,000,000.

4. SPONSORSHIP

Sponsor report may be required....

5. PROPERTY REQUIREMENTS

Contingent resources of $500,000,000... $3,000,000 developed reserves... or $7,500,000 proved developed reserves.

6. RECOMMENDED WORK PROGRAM

Clearly defined development plan, satisfactory to TSX, which can reasonably be expected to advance the property.

7. MANAGEMENT AND BOARD OF DIRECTORS

Basically: experienced, technical expertise, public company experience, and two independent directors.

8. OTHER CRITERIA

Up-to-date technical report prepared by an independent technical consultant (NI 51-101) and/or Geological Report recommending completion of work program.


Information from:

https://www.tsx.com/ebooks/en/2017-guide-to-listing/