Government Publishes Draft Legislative Proposals Supporting Jobs and Safe Operations at Junior Mining Companies

From: Department of Finance Canada

Today, the Department of Finance published draft legislative proposals to protect jobs and safe operations at junior mining exploration and other flow-through share issuers, by extending the timelines for spending the capital they raise via flow-through shares.

The government first announced on July 10, 2020, its proposal to extend the timelines by 12 months for spending the capital that junior mining exploration companies and other flow-through share issuers raise via these shares. This measure would help these businesses through the significant challenges many are facing as a result of the pandemic, including voluntary shutdowns or difficulty accessing the field.

A backgrounder detailing the full scope and effective dates of the measure has been released with the draft legislative proposal.

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