Mining Minds

Flow-Through Shares Explained: An Overview for Mining Executives

Online Registration

Date
May 3, 2012

Location
Toronto Board of Trade
77 Adelaide Street West
Toronto, ON M5X 1C1

Time:
7:45 a.m. - 8:00 a.m.
Registration and breakfast

8:00 a.m. - 9:00 a.m.
Presentation and discussion period

Register

Canada is recognized for its large contingent of junior mining companies that have been instrumental in maintaining the strong upward trend of the exploration and development of Canadian mineral deposits over the last decade.

According to Natural Resources Canada in its March 2012 Information Bulletin, exploration expenditures in Canada are expected to surpass $4 billion in 2012, with 52% (or $2.1 billion) of those expenditures anticipated to be incurred by junior companies. Due to their lack of internally generated revenues, junior companies are often dependent on the equity markets to finance these expenditures, more often than not using flow-through shares as the vehicle to raise the necessary funds.

On May 3, 2012 join PwC's Liam Fitzgerald, Mining Tax Partner, for a discussion of the tax aspects of flow-through shares. This presentation is designed for mining executives at both junior and senior mining companies who have little or no tax experience.

This session will answer the following commonly asked questions:

  1. What are flow-through shares and what exploration expenditures can be funded using such shares?
  2. What is a "super flow-through share"?
  3. How does the "look-back rule" work and what are the costs and benefits of using such rule?
  4. What tax benefits do the provinces provide to flow-through shareholders?
  5. Does the arrangement of donating flow-through shares to a charity still provide a tax benefit?
  6. What common mistakes do companies make in structuring flow-through share arrangements?
  7. 7If the Canada Revenue Agency audits a flow-through share offering, what do they focus on?

Presenters:
Liam Fitzgerald
Mining Tax Partner

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