Canadian Lawyer InHouse

Oct/Nov 2008

Legal news and trends for Canadian in-house counsel and c-suite executives

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Page 28 of 47

CPC LAW QUIZ F or private companies looking to take their company public, a capital-pool company provides an excellent alternative to the traditional IPO. The CPC program provides a proven process and framework for introducing experienced investors to entrepreneurs whose junior growth companies are looking for both capital and management experience. Test your knowledge with this quiz, provided by Sanjay Joshi and Michael Dolphin of WeirFoulds LLP. 1 2 3 What is the maximum amount I can raise under the CPC program? (a) $500,000 (b) $1 million (c) $2 million (d) $100 million (e) Unlimited Is shareholder approval required for closing the qualifying transaction? Yes or No Once an agreement in principal has been reached with a target company, can the CPC loan the target money prior to completion of the qualifying transaction? Yes or No 4 5 See answers on page 30 6 In order to meet the Toronto Stock Exchange's listing requirements, do I need a sponsor? (a) Yes (b) Yes, but with an exception (c) No (d) No, except under certain circumstances (e) It depends Are there any restrictions on the type of business that forms the target company to a qualifying transaction? Yes or No Can a foreign incorporated company be the target company for a qualifying transaction? Yes or No C ANADIAN Lawyer INHOUSE OC T OBER 2008 29

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