Statement from Save Canadian Mining
January 4, 2021 — Today Save Canadian Mining and its founders congratulate Hon. Peter Bethlenfalvy on his recent appointment as Minister of Finance for Ontario. It was announced on December 31, 2020 that Hon. Bethlenfalvy would be assuming the role. Save Canadian Mining has been working closely with Finance and the Capital Markets Modernization Taskforce (the “taskforce”) during the formal review of the Ontario Securities Act that was launched earlier last year.
“We congratulate Minister Bethlenfalvy on this appointment and look forward to working with this new Minister of Finance as he deliberates on the recommendations of the taskforce. Save Canadian Mining is proud of its great working relationship with the Ontario government, and remain hopeful that the interests of Ontario’s small business mining community will be taken in to account as future decisions are made. We trust that Minister Bethlenfalvy will consider changes to the Ontario Securities Act carefully, and trust he will acknowledge the impact that predatory short-selling has been having on Ontario’s junior miners as he moves forward with implementation,” said Terry Lynch, Founder and CEO.
In December it was announced that the report of the CMM Taskforce had been delivered to the Minister of Finance. Save Canadian Mining has made two submissions to the taskforce and has been meeting with stakeholders since it was announced last year that the Ontario government would be reviewing the legislation governing capital markets. SCM’s principal focus remains on the existing structural issues within Ontario’s capital markets that the junior mining sector feels are unfairly allowing predatory short-sellers to target their stocks and restrict their ability to raise the capital they need to grow their businesses in the province.
“SCM and its founders are hopeful that the appointment of Hon. Peter Bethlenfalvy as Minister of Finance will mean continued attention to this worthwhile government initiative. SCM is pleased to offer its support and encouragement to the Minister and look forward to future interacations on this and other topics of relevance to junior mining and capital markets,” concluded Lynch.