Renunciation of Expenses or Allocation of Assistance by a Corporation (courtesy translation)
The RL-11 slip must be filed by any development corporation that has prepared a selling instrument for flow-through shares or agreed to issue flow-through shares under a written agreement with investors.
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The courtesy translation of this document is available below for information purposes only.
Development corporations that have agreed to issue flow-through shares under written agreement with investors now have an additional time period of 12 months within which to incur exploration or development expenses in Canada that it can renounce in favour of the investor.
The additional time period applies to agreements concluded:
- between March 1, 2018, and December 31, 2020, inclusive, when the renunciation is done pursuant to the general rule; and
- between January 1, 2019, and December 31, 2020, inclusive, when the renunciation is done pursuant to the look-back rule.
For more information, see information bulletin 2020-12 published by the Ministère des Finances.