Canada:
Director Residency Requirements have Issuers Looking to Yukon
17 January 2011
Stikeman Elliott LLP
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The Globe and Mail published an interesting article
last week discussing the "jurisdiction-shopping"
occurring among issuers looking to avoid director residency
requirements. The article specifically considered the case of a
mining company looking to reincorporate in Yukon so as to avoid the
CBCA's requirement that at least
25% of the directors of a corporation be resident
Canadians. According to Stikeman Elliott partner
Jay Kellerman, who was
quoted in the article, such jurisdiction-shopping is increasingly
prevalent among mining companies
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