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Save Canadian Mining meets with Ontario’s Minister of Finance to discuss predatory short-selling

May 6, 2021

May 5, 2021 -- Earlier this week, Terry Lynch, Executive Director of Save Canadian Mining Inc., along with mining industry leaders met with Ontario’s Minister of Finance, Hon. Peter Bethlenfalvy to present research demonstrating the need for timely implementation of the recommendations of the Capital Markets Modernization Taskforce (CMM Taskforce). Among the requests of the minister was that he move forward with the specific recommendations related to short-selling and junior issuers.

“Meeting with Ontario’s Minister of Finance allowed us to bring forward the long-standing concerns of our industry as it comes to the unlevel playing field for junior issuers and the structural issues within Canada’s capital markets,” said Terry Lynch, Executive Director of SCM. “We trust that our message of small business, economic development, and the need for greater regulatory intervention on short-selling practices was heard.”

Save Canadian Mining was represented in the meeting by Lynch and several of the founding supporters of the organization including: Chris Hodgson, CEO of the Ontario Mining Association (OMA); Garry Clark, Executive Director of the Ontario Prospectors Association (OPA); and Eric Sprott Mining Inc.

“As a campaign, we still have a lot of work to do to get our asks over the finish line. The Ontario Finance Minister has a big job to do, and we take his time earlier this week as an indication that he is open to our input and perspective on capital markets modernization,” concluded Lynch.

Save Canadian Mining was founded in 2018 as an issue-based organization and has been building awareness for its mission within governments and in the media. SCM has been working closely with the Ontario government since they announced their intention to review and update the Securities Act in the fall of 2019.

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