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Message: BGF

Hi Andy,

You are asking two questions,

Doing the BGF listing via a plan of arrangement means that all the shares issued in BGF private Co became eligible for trading on the day of the listing, the day when BGF stop being a private Co and became a public Co.

Since the PP was done in private Co, the shares issued from the PP are not subject to any hold period and are treated like all the other shares of BGF.

If you look at the bulletin from the TSX-V, it is clearly mentioned that they are no share subject to escrow.

But the reason why the shares emanating from private Co could not be deposited in any trading account is just that, they were shares in a private Co.

One last administrative point, since the PP was conditional to the listing, we could only covert the PP shares in Private Co once the listing was completed.  We are now in the process of mailing these replacement certificates to investors.
Hope this helps
Bernard Tourillon



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