Eligible venture issuers in Canada can now move from quarterly to semi-annual reporting. As of March 19, 2026, the Canadian Securities Administrators (CSA) introduced the Semi-Annual Reporting (SAR) Pilot . Implemented through Coordinated Blanket Order 51-933, it allows certain issuers listed on the TSX Venture Exchange (TSXV) or the Canadian Securities Exchange (CSE) to optionally skip first and third quarter financial filings . This reduces overall reporting burdens and costs. It also creates longer gaps between financial reports that companies must manage through more deliberate communication with the market. What Changed and Why It Matters The new framework allows qualifying venture issuers with annual revenue of 10 million dollars or less to report twice a year instead of four times, subject to additional eligibility criteria. Issuers continue to file semi-annual and annual financial statements, but no longer need to file first and third quarter reports under National Instrument 51-102. This change is intended by the CSA to reduce the reporting burden on smaller public companies while maintaining investor protection. For many venture issuers, preparing quarterly financial reports requires significant time, cost, and internal resources that may outweigh the benefit to investors. As a result, fewer required financial filings ease these demands. However, issuers must still promptly disclose material information through news releases, making communication between reporting periods more important. The CSA has also indicated that it will use insights from this pilot to inform a broader rule-making initiative, meaning semi-annual reporting could be expanded to more issuers over time. Semi-Annual Reporting for Venture Issuers Changes How Disclosure Is Delivered At first glance, the new optional semi-annual reporting appears to be a simple reduction in reporting frequency. However, in practice, it changes how companies structure and deliver disclosure. Under quarterly reporting, communication is anchored to fixed filing cycles. With semi-annual reporting, those anchors are reduced, creating a longer period between formal financial updates. This effectively introduces a new disclosure strategy that is less tied to reporting deadlines and more dependent on how companies communicate with the market over time. Managing the Information Gap Between Reporting Periods The shift from quarterly to semi-annual reporting is best understood visually. The longer gap between financial reports can be understood as an information gap . Without consistent communication, longer gaps between reporting periods can increase uncertainty for investors. Strong issuers will manage this gap proactively rather than reactively. Press releases become central to this approach. Companies can use them to maintain visibility by sharing operational progress, key milestones, and updates that help investors understand how the business is evolving between reporting periods. This helps maintain continuity in disclosure between financial reports . They also remain essential for communicating material information . Timely disclosure obligations continue to apply, and press releases remain the primary tool for ensuring that material developments are broadly disseminated . Consistent communication also plays an important role in maintaining investor confidence . Extended periods without updates can create uncertainty, even when performance is stable. Regular, well-structured updates help reinforce credibility. Finally, press releases can support alignment with upcoming financial reporting . By setting expectations ahead of semi-annual filings, companies can provide clearer context and reduce the risk of unexpected results. Together, these practices form a more deliberate and structured communication approach. Why This Change Benefits Venture Issuers For many smaller public companies, this shift offers several practical advantages: Reduced time and cost associated with preparing financial statements and MD&A Increased focus on operations and long-term growth Less emphasis on short-term performance fluctuations Continued transparency through ongoing disclosure requirements These advantages allow companies to operate more efficiently while still meeting their disclosure obligations. Important Limitations to Consider Semi-annual reporting is not appropriate for every issuer. The exemption may not be available in certain financing situations, such as when an issuer is using a short form or shelf prospectus, in which more frequent financial disclosure may still be required. Issuers are also required to announce their adoption of semi-annual reporting through a news release that includes prescribed language. Because of these constraints, companies should consider their capital markets plans and investor expectations before making the transition. A Broader Shift Beyond Canada This change reflects a wider global trend. Markets such as the United Kingdom have long operated under semi-annual reporting frameworks. Quarterly reporting was introduced in 2007 and removed in 2014 , returning to a semi-annual model. In the United States, the U.S. Securities and Exchange Commission (SEC) has explored similar changes, including a 2018 request for comment on quarterly reporting following calls from Donald Trump to reduce reporting frequency. In 2025, Trump also expressed renewed interest in semi-annual reporting structures for public companies. No rule changes have been implemented to date. Overall, this points to a broader shift toward balancing regulatory efficiency with meaningful disclosure. Semi-annual reporting for venture issuers is not simply a reduction in filings. It introduces a new disclosure strategy. Fewer required reports place greater emphasis on how companies communicate between reporting periods. Success under this model depends on maintaining clear, consistent, and timely communication with the market. For issuers that adopt semi-annual reporting, disclosure becomes less about meeting fixed deadlines and more about delivering the right information at the right time. That is where a well-structured press release strategy becomes essential.

UPDATE:  On March 5, the SEC issued an Exemptive Order  (Release No. 34-104931) providing significant relief for FPIs in "qualifying jurisdictions," including Canada . Because the SEC now recognizes Canada’s reporting standards as "substantially similar," most Canadian directors and officers are exempt  from the Section 16(a) filings described below. However, this relief depends on the jurisdiction of incorporation; FPIs incorporated in "offshore" jurisdictions (e.g., Cayman Islands or BVI) may still face the March 18 deadline. We strongly advise IR teams to consult the final rule , review the latest SEC guidance, and coordinate with legal counsel  to verify how these changes impact your specific governance structure. The end of the Section 16 exemption for foreign issuer directors and officers marks a major shift in SEC insider reporting. It introduces faster disclosure timelines and new transparency risks for global IR teams. Beginning March 18, 2026 , directors and officers of Canadian and other foreign private issuers (FPIs) will be required to publicly report insider holdings and transactions under Section 16(a) of the U.S. Securities Exchange Act of 1934. This change, enacted under the Holding Foreign Insiders Accountable Act (HFIAA)  and signed into law by President Trump on December 18, 2025, eliminates a nearly five-decade exemption from SEC insider reporting. International leadership previously operated under more relaxed U.S. disclosure rules. But now they must meet the same two-business-day disclosure standards as U.S. domestic executives. For investor relations teams, this shift is not just regulatory. It is operational, reputational, and market facing. Why SEC Insider Reporting matters for investor relations teams Foreign issuer insider transactions are moving to the center of U.S. market attention. While many issuers already report insider activity in their home jurisdictions, they now face an additional SEC deadline that is significantly faster than most international standards: Canada:  Insiders report trades on SEDI within five days. UK and Europe:  Executives typically have three business days under the Market Abuse Regulation (MAR). United States:  Reports must now be filed on EDGAR within two business days . This creates a dual-reporting environment where U.S. filings carry immediate market impact. In the U.S. market, insider filings are monitored in real time by automated trading systems which can react within seconds of a filing becoming public. Because machines often react before investors or analysts have reviewed the full context, the time available to manage market interpretation is now measured in minutes rather than days. Managing the "smoke signals" In U.S. markets, a Form 4 filing is a headline event. A routine transaction, such as a CEO selling shares to cover tax obligations, can be misinterpreted as a loss of confidence if the context is not provided instantly. To manage this, IR teams must move from a reactive to a proactive strategy. You should anticipate insider transactions and have trade scripts or messaging aligned with your legal team and brokers before the trade even occurs. Under Section 16, reaction speed becomes a core part of your disclosure strategy. Reputational risk and proxy advisor scrutiny Late or missed Section 16 filings are publicly flagged on EDGAR. Proxy advisory firms such as ISS and Glass Lewis track late or missing filings and factor them into their governance assessments. A late filing is no longer viewed as a clerical oversight. Instead, it can be interpreted as a breakdown in internal controls. For IR teams, this creates a new category of reputational risk that extends well beyond simple compliance. The new standard: T+2 disclosure becomes mandatory Starting March 18, 2026, every reportable change in insider ownership, including grants, option exercises, vesting events, and open market trades, must be disclosed within two business days. This compressed timeline leaves little room for after the fact discovery or manual processes. IR teams must know about a transaction as it happens, not after it settles. Who is required to file: defining the insider Section 16 focuses on policy making influence rather than job titles alone. For foreign issuers, the insider group includes the following individuals. All directors Every member of the board, without exception. Section 16 officers This includes the President, Chief Financial Officer, and Principal Accounting Officer or Controller. It also extends to any vice president in charge of a principal business unit or any other individual who performs a significant policy making function. A practical rule of thumb If an individual is identified as an executive officer in your Form 20-F or for clawback policy purposes, they are almost certainly a Section 16 insider. What about 10% shareholders? Under the Holding Foreign Insiders Accountable Act, shareholders who own more than 10 percent of a company but are not directors or officers generally remain exempt from Section 16(a) reporting. Issuers should also watch for director by deputization. If a significant shareholder places a representative on the board, that shareholder entity may be viewed as a director for Section 16 reporting purposes and required to file insider reports. Section 16 reporting explained: the three forms From an investor relations perspective, success depends on ensuring these filings are accurate, timely, and anticipated. Form 3 (Initial snapshot) Discloses an insider’s total beneficial ownership upon becoming subject to Section 16. All directors and officers in place as of the effective date must file by March 18, 2026. Form 4 (Rapid response) Reports any change in beneficial ownership and must be filed by the end of the second business day following the transaction. No materiality threshold applies. Every reportable change must be disclosed. Form 5 (Annual cleanup) Filed within 45 days of fiscal year end for certain deferred or previously unreported transactions, such as gifts or inheritances. The global context: why home-country insider reporting is not enough A common assumption among Foreign Private Issuers (FPIs) is that home country insider reporting satisfies U.S. requirements. It does not. While the HFIAA allows the SEC to exempt foreign issuers with substantially similar home-country insider reporting rules, including those in Canada, the UK, and the EU, no such exemptions have been granted as of early 2026. Until the SEC grants an exemption, foreign issuer insiders must operate in a dual reporting environment. This means filings are required on both the home country system, like Canada's SEDI  or the UK's FCA  notifications, and the SEC’s EDGAR  system, often on conflicting timelines. Individual EDGAR Access Is Now Required for Foreign Issuer Directors and Officers To comply with these new reporting requirements, every director and officer of a foreign private issuer must have their own account on the SEC’s EDGAR system. If a reporting person does not already have an individual account, the SEC advises that the individual, or an authorized representative, should submit a Form ID  application for EDGAR access as soon as possible. The application process is meticulous and requires time to complete. Applicants must first obtain individual Login.gov  credentials to accurately complete the Form ID. A notarized signature and the upload of an authenticating document are also required. SEC staff manually review each Form ID and may request additional information during the process. Credentialing can take weeks rather than days. Therefore, issuers that do not complete this onboarding in advance risk being unable to submit their initial Form 3 filings by the March 18 deadline. This could create immediate compliance and governance exposure. Why is this happening? The level playing field rationale The Holding Foreign Insiders Accountable Act was driven by a policy objective to close what lawmakers viewed as a transparency gap. U.S. regulators argued that foreign insiders could trade on U.S. markets with less immediate disclosure than domestic executives, potentially disadvantaging U.S. investors. By removing the exemption, the SEC is standardizing expectations regardless of whether a company is headquartered in Toronto, London, or New York. Next steps: an IR readiness checklist To prepare for March 18, 2026, IR teams should begin now. Priority actions include auditing board and executive credentials to confirm that every director and covered officer has an individual CIK. Ensure every director and officer has a Login.gov  account Companies should also implement mandatory trade pre clearance. With a T+2 deadline, IR teams cannot afford to learn about trades after execution. Finally, establish real time data pipelines with executives’ personal brokers to ensure transaction data flows immediately to legal and filing teams. The expansion of Section 16 reporting marks a meaningful shift in how insider activity is disclosed, interpreted, and governed in U.S. markets. For global IR teams, readiness will be defined not just by compliance, but by anticipation, coordination, and speed. TMX Newsfile  supports issuers navigating EDGAR onboarding and the operational demands of high frequency insider reporting.

An advisor enters a ticker into a brokerage dashboard. A retail investor searches a fund on Yahoo Finance. An institutional analyst checks a terminal feed before a client meeting. In that moment, they are not simply looking for a price quote. They are looking for context. And increasingly, what they see is silence. The global ETF market now exceeds $20 trillion  in assets under management. At the end of November 2025, the industry included more than   15,600 products and over 30,000 exchange listings worldwide, including   4,806 U.S.-listed funds alone. Yet despite this scale, many ETFs still display an empty news feed at the exact moment of investor research. On brokerage platforms and financial portals, the message is often the same: no recent news. In a market that moves in milliseconds, silence creates uncertainty. This is the ETF Communication Gap. It is the gap between a fund’s real progress and what investors actually see when they look it up. Understanding this gap requires looking at how ETF visibility actually works inside modern research systems. Where ETF Discovery Actually Happens ETF distribution has evolved beyond traditional advisor networks and sales desks. Digital platforms are reshaping how funds are surfaced, screened, and selected. The PwC Global ETF Survey identifies robo-advisors, digital platforms, and apps as the channels expected to have the most significant impact on ETF distribution in the coming years. This confirms that visibility now depends on digital access points. Investor behavior reflects this shift. According to the CETFA / Sago Study, 48% of Canadians aged 18–34 report purchasing ETFs through discount brokerage platforms rather than through advisors. Platform functionality also influences selection decisions. Ease of buying ETFs through an investment platform was cited as a key consideration by 34% of Canadians aged 18–34 and 35% of those aged 35–54. This transformation is not just limited to retail channels. At the advisor level, technology adoption is no longer optional. Cerulli Associates reports that 90% or more  of advisors say their technology is effective in achieving key business objectives, and practices now use up to 18 different systems  to deliver investment, planning, and compliance functions. ETF research occurs within brokerage trading platforms, custodial portals, financial terminals, data aggregators, portfolio platforms, AI gateways and algorithmically populated news feeds embedded across advisor and retail platforms. When a fund consistently surfaces with updated disclosures, commentary, and performance context, it stays in front of investors. When it does not, it risks becoming digitally invisible, regardless of internal progress or performance. The ETF Market Has Changed ETFs began as passive index trackers. Today they include active strategies, thematic funds, sustainable mandates, and options-based structures. Active launches have accelerated sharply. In 2025,   more than 80% of new ETF launches were active. As the market becomes more complex and crowded, how a fund is discovered matters more than ever. Why Visibility Has Become a Competitive Layer In today’s ETF market, there are three core forces shaping fund growth: Product intelligence Market access Investor discovery Most issuers focus heavily on the first two. It is investor discovery where visibility becomes competitive. ETF issuers invest in analytics, index design, portfolio construction, and transparent reporting. They also secure exchange listings, coordinate with market makers, and build distribution relationships. But discovery does not happen on issuer websites alone. It happens inside brokerage dashboards, advisor research portals, algorithm-driven news feeds, and financial data platforms. When these systems show little or no fund-specific news, the absence does not necessarily signal weakness. But it does create uncertainty. And in competitive markets, uncertainty shifts capital elsewhere. Visibility in these systems depends on structured disclosures distributed through recognized news and press release networks that feed into brokerage and research platforms. Without that layer, even strong products with proper exchange access may go unnoticed. The Three Layers of ETF Visibility To understand this more clearly, ETF presence in the market can be viewed through three interconnected layers. Layer 1: Intelligence This is the data layer. It includes NAV reporting, AUM tracking, index methodology, factor exposures, and the analytics that define what the fund actually delivers. Firms such as TMX VettaFi operate powerfully in this space, providing data and insights that drive advisor decision-making. Layer 2: Access This is the market access layer. It encompasses exchange listings, regulatory frameworks, market maker coordination, and the overall structural that enables liquidity in the secondary market. Exchanges and capital formation teams operate here. Layer 3: Visibility This is the layer that keeps an ETF fund visible across research platforms. It ensures fund updates appear where investors actually look. This includes: • New ETF launch announcements • Quarterly performance and manager updates • Distribution declarations • Significant asset growth milestones • Portfolio or methodology changes • Fee or structural updates These updates are not just marketing announcements. They signal that a fund is active, transparent, and professionally managed. Without this layer, the product exists and it trades, but it remains invisible at the point of research. How the "No News” Problem Happens Brokerage dashboards, custodian portals, and financial aggregators pull fund-specific news from recognized distribution channels. If a fund posts an important update only on its own website, that information often does not appear in the news feed tied to its ticker on major research platforms. The result is a screen that looks inactive. The fund may have grown its AUM, adjusted its yield, or rebalanced with market shifts. But at the moment of trade, none of that activity is visible. In a crowded category, silence does not remove a fund from consideration. But it gives investors fewer reasons to choose it. Advisors look for signs that a fund is active and well managed. Retail investors look for evidence that something is happening behind the ticker. Digital research tools also tend to surface funds that publish regular updates. What shows up on screen shapes how a fund is perceived. Consistent Updates Build Credibility Press releases are often treated as marketing. But in the ETF market, consistent updates serve a different purpose. Publishing regular, structured news announcements creates a visible track record. Over time, that track record shows: • That the fund is operating consistently • That distributions are reliable • That the strategy is transparent • That management is engaged It does not guarantee inflows or replace performance. But it reduces uncertainty, and reduced uncertainty builds credibility. Why ETF Visibility Matters More in 2026 Retail participation is continuing to grow and advisors are leaning more heavily on digital screening tools. At the same time, AI-driven research platforms are scanning and summarizing disclosures at scale. As competition increases in the ETF field, differentiation is becoming more important. Fees may tighten, strategies may start to look alike, and new ETF themes are entering the market at a rapid pace. Visibility does not replace strong fundamentals. It ensures they are recognized. The Industry is Moving Toward Higher Standards ETF communication practices are still uneven. Public companies follow clear and established disclosure standards. ETF issuers do not operate under the same level of expectation. Some maintain consistent, widely distributed updates. Others rely mainly on website postings or occasional announcements. As the ETF market continues to mature, this difference will become more visible. Funds that treat intelligence, access, and visibility as connected parts of the same system will appear more established and more credible to advisors and investors. In a fast, competitive market, clarity itself becomes an advantage.

Here’s what we’ve learned from over 200,000 regulatory filings—and how you can apply it: For the 200+ Canadian companies also listed in the United States, the stakes for regulatory compliance have never been higher. A single filing error can trigger significant stock price volatility and lead to major financial and reputational damage. SEDAR+ and EDGAR process thousands of filings every day. In just its first three months, SEDAR+ handled over 30,000 disclosures. EDGAR, meanwhile, processes nearly 3,500 submissions daily—totalling more than a million annually. In this high-volume environment, how can you ensure your filing isn't just another number, but is prepared and submitted flawlessly? After managing over 200,000 filings since 1997, we’ve seen it all, from seamless submissions to last-minute scrambles. Here are the three hard-won lessons we’ve learned from decades in the filing trenches. The Trusted Compliance Formula Lesson 1: Adopt Specialized Technology for Regulatory Filings Our decades of experience have taught us a clear lesson: the foundation of any flawless filing is technology that is built specifically for the complexities of regulatory compliance. The Insight:   The data-centric nature of Canada's SEDAR+ system, combined with the unique security protocols of EDGAR Next in the U.S., demands a platform built with a deep understanding of the entire filing process. This experience led to a foundational conclusion for our team: to truly guarantee flawless compliance, we had to build our own proprietary EDGAR platform from the ground up. It was designed from a filing agent's perspective, solving the real-world challenges our experts face every day. The result is an enterprise-grade system trusted to handle disclosures for some of the largest public companies in North America. Lesson 2: Unify Your Cross-Border Expertise A company can have the best EDGAR expert in the U.S. and a different, top-tier expert for SEDAR+ in Canada and still face significant compliance risk. Why? Because critical and costly errors often occur in the communication gaps between  separate teams. The Insight:   Our work with dual-listed issuers has proven one principle above all else: true expertise must be comprehensive and cross-border . In Canada, our experience as a leading, high-volume SEDAR+ filer includes mastery of the full spectrum of documents, from prospectuses to continuous disclosure filings like financial statements, MD&A, and material change reports. This is complemented by over two decades of dedicated EDGAR experience in the U.S., encompassing more than 80,000 U.S. filings since 1999. Our proficiency covers an equally wide array of reports crucial for cross-border issuers, including Forms 10-Q, 10-K, 20-F, and 40-F. This proven, dual mastery is what has shown us that unified expertise is essential. A truly effective partner must have a single team of specialists who are deeply fluent in both ecosystems, ensuring your filing strategy is holistic, consistent, and accounts for the intricate ways the two systems interact. Lesson 3: Integrate the Entire Disclosure Workflow Even with specialized technology and a unified team, a fragmented process creates friction and increases risk. That’s why the final principle focuses on fully integrating your disclosure workflow, from the first draft to the final submission. The Insight:   Integration means treating disclosure as one continuous process instead of separate tasks. It ensures your public news distribution and regulatory filings through SEDAR+ and EDGAR are aligned and managed from one point of control. This approach eliminates risky manual handoffs, creates a clear audit trail, and guarantees that the message shared with investors matches what regulators receive. Coordinating filings across both the SEDAR+ and EDGAR systems demands seamless timing and integrated workflows. Putting These Principles Into Practice These lessons aren't theoretical. They are the foundation of our entire approach, forged over a history of more than 200,000 successful regulatory filings. This legacy of market leadership, now backed by the trust and stability of TMX Group , is why we built our proprietary technology and trained our unified, 24/7 team of cross-border specialists. We didn’t just learn the principles; we built our business on them. Flawless compliance in today's environment requires this exact combination: specialized technology, unified expertise, and an integrated workflow. These are the proven essentials for navigating the complexities of SEDAR+ and EDGAR Next with confidence. And they’re exactly what our team delivers every day. Contact TMX Newsfile   to learn how our proven approach can be applied to your disclosure workflow.

If your company files on SEDAR+, it’s time to prepare for the SEDAR+ fee increase 2025, a significant adjustment approved by the Canadian Securities Administrators (CSA). The five-year plan will raise SEDAR+ system fees, with the first and largest jump taking effect on November 28, 2025 . "System fees are set to rise by about 60% this November. This is the largest single-year jump since SEDAR+ launched." Fees for filings such as annual financial statements, annual information forms (AIFs), and prospectuses  will rise by approximately 60% , followed by annual increases of 3–4%  through 2029. The increase is intended to help the CSA keep up with rising costs for technology, IT staff, and cybersecurity. For your company, this change goes beyond a simple administrative update. It will affect how you budget for filings, plan compliance activities, and manage year-end reporting. Below, we outline what’s changing, why it’s happening, and the steps your team should take to prepare. Breaking Down the 2025 SEDAR+ Fee Increase A significant cost increase is coming for SEDAR+ filers. Starting November 28, 2025 , system fees will rise by approximately 60% . This is the first and largest jump under the CSA’s new five-year fee plan. Key Changes at a Glance The increases apply to all filing types that include a system fee, such as annual financial statements, AIFs, and prospectuses. Smaller annual increases of 3–4%  will follow through 2029. Initial 60% Fee Jump:  The largest increase takes effect in November 2025. Annual Fee Escalations:  Smaller annual increases of roughly 3–4% will apply each year through 2029. No New Fee Types:  The increases apply only to existing fees. The flat, per-filing model remains in place. WKSI Integration:  Fees related to the new Well-Known Seasoned Issuer (WKSI)  shelf prospectus regime will be added to the schedule at the same time. These changes stem from amendments to Multilateral Instrument 13-102 – System Fees, which the Canadian Securities Administrators (CSA) finalized on July 10, 2025. The increase is intended to help the CSA keep up with rising costs for technology, IT staff, and cybersecurity. A Look at the New Numbers Here is a sample of what filers can expect to pay for system fees on or after November 28, 2025: Annual Financial Statements  (company): $1,224 Annual Information Form (short-form eligible): $4,048 Annual Information Form (non short-form): $688 Long-Form Prospectus  (preliminary submission): $1,520 These figures illustrate the tangible impact of the 60% hike across common filing categories. "According to the CSA, 95% of filers will see an increase of less than $2,500 in 2025, while 85% will see less than $1,000." — Canadian Securities Administrators (CSA) To see a full list of the updated SEDAR+ system fees, please click here . Behind the Hike: The CSA's Rationale The CSA says the fee increase is needed because the cost of running and maintaining Canada’s national filing systems has outpaced current revenues. When the simplified flat-fee model launched with SEDAR+ in 2023, revenue dropped by about 18% compared with the previous structure. From 2021 to 2024, IT labour costs also climbed 35–45%, adding pressure to operating budgets. In addition, maintaining and improving cybersecurity across both SEDAR+ and the National Registration Database (NRD) continues to drive up costs. The Real-World Impact and What Filers Are Saying The CSA describes this increase as a necessary cost-recovery step, but there are a few important points for filers to keep in mind. Separate from Regulatory Fees:  These system fees are in addition to  any provincial or territorial regulatory fees your company already pays, meaning your overall filing costs will rise. System Performance Concerns:  Several commenters questioned the timing of the increase, noting that SEDAR+ still has performance issues such as slow searches and usability challenges that have not been fully resolved. Limited Revisions:  The CSA received feedback from four commenters but made no major changes to the proposal, showing that it intends to move forward largely as planned. Your Action Plan: What to Do Before November 28 With the deadline approaching, it’s important to plan ahead and take a few key steps. This change marks more than a fee adjustment. It's a sign of where Canada’s capital markets infrastructure is heading. For smaller issuers, even modest increases may have an impact, while larger filers will need to plan for rising ongoing costs. Over time, these regular adjustments will become part of the new normal for using SEDAR+. The best approach is to plan early, stay informed, and keep your teams aligned. With preparation, your company can manage the transition smoothly and continue to navigate Canada’s regulatory landscape with confidence. Source:   Canadian Securities Administrators – Notice of Amendments to Multilateral Instrument 13-102 (July 10, 2025

For European investor relations firms, global reach is no longer a nice to have. It is an expectation. For Interaction Partners, a Swiss based provider of investor relations software and financial communications services, the challenge was not capability. It was geography. By partnering with TMX Newsfile, they found a way to bridge the gap between European markets and North American press release distribution through a shared approach to execution. “Switzerland and Canada really do seem to share a mindset. Calm, pragmatic, and quietly getting things done while others are still giving keynote speeches about it.” - Kilian Mayer, Managing Director, Interaction Partners North American IR Distribution From Switzerland Expanding investor reach across borders requires both infrastructure and alignment. About Interaction Partners Interaction Partners is a Swiss provider of investor relations and financial communications software and services. The company supports issuers and IR teams through tools that streamline investor engagement, disclosure workflows, and communication with the market. As demand for cross border visibility increased, their clients began asking for reliable North American news distribution that could integrate directly into existing IR workflows. The Challenge Before working with TMX Newsfile, Interaction Partners could not offer North American distribution as part of their platform. That limitation created friction. Clients had to manage additional vendors, manual steps, or external processes to reach investors in Canada and the United States. To remain competitive and scalable, the team needed a solution that was: Integrated into their existing platform Highly automated Reliable for capital markets disclosure Easy for clients to use without additional effort The Solution: Automating North American Press Release Distribution TMX Newsfile enabled Interaction Partners to embed North American news distribution directly into their workflow. The result is simple by design. “We now can offer a North American distribution to our clients, and the only thing they have to do for that is to tick one more box. They love it.” - Kilian Mayer, Managing Director, Interaction Partners No new systems. No manual filings. No operational burden added to the Swiss based team. Why TMX Newsfile What stands out is not just the technology, but the way the partnership is approached. From the initial discovery phase through implementation, the focus remains on building a practical bridge between European workflows and North American distribution. TMX Newsfile does not simply provide a service. The team works closely with Interaction Partners to design an integration that fits their existing platform and business model. “The team’s solution oriented approach stood out immediately. Every contact I had at TMX Newsfile was driven by a focus on finding a solution that works for both parties.” - Kilian Mayer, Managing Director, Interaction Partners This approach eliminates much of the friction typically associated with international service agreements. By aligning with a partner that shares a similar professional philosophy, Interaction Partners is able to embed North American distribution as a core part of its own platform. The result is a fully automated workflow that requires minimal ongoing effort. It also creates a new revenue stream that runs almost entirely in the background, while strengthening Interaction Partners’ market acceptance across Switzerland and Europe. The Result Today, Interaction Partners offers North American distribution as an integrated part of its service offering. Key outcomes include: Clients benefit from one click access to global news distribution. The firm benefits from expanded capability and recurring revenue. Operations remain lean, predictable, and scalable . For Swiss issuers, this also simplifies the complexity of North American disclosure and enables compliant distribution without introducing additional systems or manual processes. It is a practical solution built for firms that value execution over excess. In an industry often driven by noise, tools, and promises, the success of this partnership comes down to shared values. Calm. Pragmatic. Focused on getting the job done. By aligning with a partner that mirrors its own approach, Interaction Partners is turning a geographic limitation into a competitive advantage.

To understand where public relations and investor communications are headed, we analyzed over 39,000 press releases distributed in 2025. The data is clear: success now depends on a careful balance between AI-readability and human trust. More than 50% of news activity on the TMX Newsfile network is now driven by AI bots from OpenAI and Microsoft. Yet these systems rely on human-verified facts to ground their answers. We have entered a “ zero-click ” reality, where Generative AI systems deliver responses directly on the search page, making it more critical than ever to be the trusted, cited source at the center of the conversation. This blog unpacks the seven PR trends shaping 2026 and what they mean in practice. These insights will help you navigate a landscape that is increasingly automated, yet more dependent on authentic human judgment than ever before. 1. PR Trends 2026: AI Changes How People Find Information, Not Just Search It Search still matters in 2026, but it is no longer limited to clicking through search results. Instead of solely browsing links, users input their search terms and then increasingly encounter AI-generated summaries before reaching an original source. What’s Changing in 2026? The "Zero-Click" Reality:  Discovery is happening before  the click. Pew Research Center data shows that Google users are 46% less likely  to click a traditional search result when an AI summary is present. While standard search pages see a 15% click rate , that number falls to just 8%  when a summary appears, as the answer often satisfies the user's intent directly on the page. The Readiness Gap:  Consumers are flocking to AI search faster than brands can adapt. A major McKinsey study found that 50%  of consumers  now intentionally seek out AI-powered search engines to guide their buying decisions and evaluate brands. The Infrastructure of Discovery:  The shift is already widespread; 58% of U.S. adults  report encountering at least one Google search with an AI summary. Furthermore, for nearly 60% of searches  starting with "who," "what," "when," or "why," an AI summary is now the default response. The Evolution of Online Discovery: Traditional Search vs. AI-Driven Results The 2026 Search Landscape by the Numbers 50% AI Search Exposure:  Half of all Google searches now feature AI-generated summaries, fundamentally changing how users find and consume information instantly. 20% to 50% Visibility Gap:  Traditional search dominance no longer guarantees you’ll be seen. Unprepared brands risk losing up to half of their web traffic as AI summaries answer users' questions directly, bypassing the need to click on a website link. 76% Professional Adoption:  The vast majority of PR professionals have moved beyond the "hype" phase, now prioritizing formal AI governance and professional standards. 50%+ Platform Dominance:  Over half of all AI crawling activity on the TMX Newsfile network is powered exclusively by OpenAI and Microsoft. These bots are now the primary engines scanning and ingesting corporate news releases. "Traditional brand strength is no indicator a brand is ready to compete in the new world of AI-powered search. Visibility is not guaranteed. McKinsey & Company, 2025 Strategic Priorities for 2026 2. Press Releases Become Even More Trusted, Verifiable Information Sources In 2026, generative AI systems do not generate answers from memory alone. They check live information first to verify data and avoid making things up. This process is called grounding . Think of it as AI fact-checking itself before it responds. AI models use a combination of training from Large Language Models (LLMs) and grounding of real-time data from new press releases to provide verified corporate facts. How AI Uses Press Releases for Grounding and Accuracy Grounding is powered by Retrieval-Augmented Generation (RAG) , a technology that acts as a digital " fact-checker. " Instead of guessing from memory, RAG allows the AI to " look up " and retrieve your live press releases to provide fresh, factual context for its answers. This table illustrates how AI systems use press releases for real-time grounding and fact verification. Archived releases also play a separate role in long-term AI training. The Core Audience Shift: Machines as Top Readers TMX Newsfile data confirms that your news is being consumed by the world’s most influential AI systems. In 2025, OpenAI (ChatGPT) and Microsoft (Copilot)  emerged as the top readers, together representing over 50% of all AI-driven activity  on the network. Writing for the "Dual Audience" To succeed in 2026, issuers are adopting Answer Engine Optimization (AEO) —the process of making content easy for AI systems to find, extract, and cite. This requires a shift from promotional "hype" to factual density . What This Means for Your 2026 Strategy Lead with Evidence:  Analysis of over 39,000 releases shows that markets and AI algorithms are rewarding real data over abstract ideas . In Energy and Tech sectors, specific results and "drilling activity" mentions sharply outperformed abstract "innovation" claims. Structure for Extraction:  AI models look for predictable patterns. Moving from a dense narrative to an AI-friendly format  with bulleted highlights can significantly improve how accurately an AI represents your company. 3. Proof and Execution Matter More Than Big Promises In 2026, the market has little patience for vague aspirational claims. Instead, both human investors and AI algorithms now prioritize execution language or verifiable evidence of what has been built and delivered. This shift is visible in how companies across sectors describe progress. An analysis of 39,000 press releases distributed through Newsfile shows a clear move toward execution-focused language. This data shows how execution-focused language is reshaping disclosure across sectors: Evidence Over Potential In Energy and Resources, credibility now comes from active projects and exploration, with terms like gold , projects , and exploration  carrying more weight than speculative positioning. Sector-Specific Execution   Technology disclosures emphasize deployed platforms and solutions, while healthcare centers on measurable clinical milestones and patient outcomes. The End of "Hype" Cycles AI systems increasingly down-rank promotional language and reward specific results. Across 39,000 releases, execution consistently outperforms aspiration, reinforcing a broader shift toward proof-based communication. In 2026, credibility comes from execution, not ambition. Investors and AI systems increasingly reward technical rigor , clear disclosure , and verifiable results , signaling a maturing market where governance and operational clarity define trust. 4. PR Performance is Measured by Impact, Not Just Reach In 2026, public relations teams still measure vanity metrics like impressions. But, this is no longer enough to prove the value or ROI of public relations to leadership. As budgets tighten, leadership teams are increasingly looking for ' value ' and the most successful PR teams in 2026 will be those that connect their work directly to revenue and business growth. From Visibility to Value According to Onclusive’s PR Trends 2026  report, proving ROI is now the industry’s defining priority. Data shows that 52%  of agencies  and 51%  of in-house teams  identify linking PR to revenue and growth as their top challenge.  Measurement has shifted from volume to a "value journey." In addition to solely counting impressions, leading teams now track Outcomes  (shifts in stakeholder behavior) and Impact  (effects on lead quality and sales velocity). This reframes PR as a strategic growth engine rather than a cost center. Measuring Visibility in the Age of AI A major 2026 trend is "Zero-Click PR,"  where success is measured by your brand’s presence and accuracy within AI-generated answers. Research from Meltwater  highlights that as 90%  of PR teams integrate AI, specific "Machine-Readability" KPIs are measured by brands: Brand Visibility Score:  How often your brand appears in relevant AI responses. Citation Authority:  The prominence of your earned media being cited by AI as a trusted source. AI Summary Accuracy:  Tracking if the AI describes your company correctly or if it is "hallucinating" outdated facts. Win Rate in AI Answers:  How often a model selects your brand as the "recommended" option for a user’s query. “In 2026, brand reputation will be increasingly shaped not by what people search for, but by what AI answers.” — Melanie Klausner, EVP, Havas Red, 2025 Connecting PR to Growth In 2026, leading PR teams connect PR activity directly to sales and revenue data to show how communications supports real business outcomes. Teams can try to identify how PR assists in the sales funnel by looking at the following: Deal Progression:  Understanding how trusted media coverage helps convince potential customers to move closer to a buying decision. Sales Velocity:  Measuring how presence in "grounded" AI answers and trusted publications reduces the time it takes to close a deal. Pipeline Efficiency:  When communications can demonstrate a direct link to a lower Customer Acquisition Cost (CAC) , By integrating PR insights with CRM platforms, organizations can see where PR directly adds revenue to help drive the business forward. 5. Clear, Human Communication Builds More Trust Than Polished Messaging In 2026, trust is built through clarity and authenticity, not perfectly polished corporate language. As AI-generated content becomes widespread, audiences are becoming more selective about what they believe and who they listen to. The Edelman Trust Barometer (2025/2026)  shows that “ trust is local ,”  with credibility shifting toward leaders, experts, and “people like me,” rather than institutions alone. This explains why messages tied to real individuals consistently outperform anonymous brand statements. At the same time, overly refined messaging is starting to work against brands. AI is able to generate flawless text at scale. But, audiences are increasingly associating this heavy polish with automation. In fact, sometimes the overuse of dashes can be a giveaway. According to Hootsuite , brands are intentionally moving away from over-edited content . Instead, natural tones and conversational language are signaling human authenticity. HubSpot’s 2026 State of Marketing  report found that 62.7% of respondents believe brands need more unique, human-centered content to compete with AI-generated material . In a crowded information environment, human insight has become a differentiator. What This Means for PR in 2026 Lead with named voices: Replace anonymous corporate language with perspectives from leaders and subject-matter experts. Prioritize clarity over polish: Simple, direct language builds more trust than elaborate phrasing. Share insight, not hype: Thought leadership and real-world experiences will cut through AI messaging more effectively. 6. AI-Powered Crisis Planning Replaces Reactive Crisis Response In 2026, crisis communications is shifting from reaction to preparation. Organizations are no longer waiting for issues to erupt before responding. Instead, they are using AI to anticipate risks , test different messaging , and prepare their responses in advance . Research from Deloitte  shows that AI is now a vital tool across every stage of a crisis. It helps teams spot "early warning signals" in massive amounts of data before a small problem turns into a major headline. In a fast-moving digital world, being truly prepared is now more important than just being fast. “AI may be used to highlight single-points of failure for critical services and monitor indicators of disruption before it occurs.” — Deloitte, 2025 This shift allows teams to evaluate how a decision might land with the public or regulators before they ever release a statement. If a crisis does break, AI helps by quickly gathering the facts and tracking public sentiment in real-time. In turn, this gives PR professionals the clarity they need to lead the conversation. What This Means for PR in 2026 Plan Ahead, Don’t Just React:  Use AI to monitor for risks and test your response plans before you actually need them. Stick to the Facts:  Use verified, real-time data to stop rumors early and protect your brand's trust. Keep Humans in Charge:  Let AI handle the data and the first drafts, but always rely on human judgment for the final, high-stakes decisions. 7. Expert Voices and Niche Communities Drive Influence In 2026, influence is no longer driven by celebrity reach or mass followings. It is driven by credible expertise and trusted communities. Proximity Over Scale Research from Onclusive’s Marketing Trends 2026  report shows that nearly three-quarters of agencies believe micro-influencers outperform celebrities. These creators participate in ongoing, real conversations where credibility is built through repeated interaction and not just one-off endorsements. The Rise of Independent Voices Recent research from the Pew Research Center  shows that audiences are increasingly turning to independent creators for information. About one in five U.S. adults now regularly get news from social media “news influencers,”  a figure that rises to nearly four in ten among adults under 30 . Most of these influencers operate outside traditional news organizations. This reinforces how influence is shifting toward independent voices woven into niche and professional communities. The Power of Reddit in AI Search:   This shift is further validated by Pew Research showing that Reddit is now among the most frequently cited sources in Google AI summaries . As a platform built on niche expert communities, Reddit demonstrates that machine-readability in 2026 depends heavily on having your brand vetted and discussed within these specialized human circles. These shifts show why influence is moving away from scale and toward proximity. In 2026, influence belongs to those closest to the conversation, not those with the biggest platform. In other words, as reach narrows, trust and conversion increase. The PR landscape in 2026 is shaped by trust , not volume. AI now plays a central role in how information is discovered and summarized, but it still relies on accurate, human verified facts to work properly. That makes clear, structured, and credible disclosure more important than ever. The strongest PR teams are moving away from hype and last minute reaction. They are focusing on execution , measurable impact , proactive planning , and real human expertise . In a zero click world, visibility is earned by being the most reliable source , not the loudest one. The organizations that recognize this shift will define what effective PR looks like in 2026 and beyond.

" The EDGAR Next deadline is no longer a future concern—it is an immediate compliance requirement. Companies that fail to complete enrollment risk losing filing access at a critical time. " The EDGAR Next deadline is only weeks away. On September 15, 2025, the SEC will switch to its new system, and companies that haven’t completed enrollment risk being unable to file. This article is a practical transition checklist—highlighting what’s changing, the steps to take now, and the last-minute pitfalls to avoid. Following these steps will keep your filing schedule on track and ensure you move into EDGAR Next prepared and confident. Step 1: The Crisis Check—Confirm Your Credentials Now Before you can enroll, the SEC requires you to prove your identity with your current, valid legacy codes. Some companies are discovering at the last minute that they can't find them. Find your situation: 1. You have your valid CCC and Passphrase You’re ready. Proceed to Step 2. 2. You have your CCC but lost your Passphrase Problem: Enrollment cannot continue without it. Solution: Regenerate your Passphrase. If you still have a valid CCC, TMX Newsfile offers a Passphrase Regeneration service so you can proceed quickly. 3. You have neither your CCC nor your Passphrase Critical Problem: You are locked out of the process. Solution: You must file a notarized Form ID Amendment  with the SEC. Processing typically takes 3–7+ business days. Do not wait.  If you are missing codes, act immediately to avoid delays as the deadline approaches. Step 2: Understand the New Rules of the Road EDGAR Next replaces shared passwords with secure, individual login.gov  accounts. Designated Account Administrators (AAs) now control all access. Step 3: Choose Your Path to Compliance Once your credentials are in order, you have two ways to manage the transition and your ongoing compliance. Our TMX Newsfile-Led service removes the entire burden, ensuring a flawless transition and effortless ongoing compliance. Step 4: Avoid the Most Common Last-Minute Pitfalls Based on what we're seeing in the market, these are the top challenges tripping up companies: Invalid CCC or Passphrase : Without them, enrollment halts. Regeneration (CCC required) or Form ID Amendment is the only path forward. The "Too Many Cooks" Error:  Multiple people attempting to enroll the same CIK causes system conflicts. Assign one leader for the process. Admin Bottlenecks:  Designating only the minimum two admins creates a risk if one is unavailable. We recommend five for redundancy—a key feature of our managed service. Using the Old CCC:  After you enroll, your old CCC is deactivated. Any filing attempt with it will fail. Forgetting the Annual Confirmation:  This new requirement is easy to miss. Treat it like any other compliance deadline. Step 5: Prepare for Day One and Beyond Once enrolled, daily filing processes look familiar, but responsibilities shift: Account Administrators  become gatekeepers—adding/removing users, managing delegation, and completing confirmations. Filers  continue submitting documents, but now under delegated, secure authority. Executives and IR teams  will notice more traceability and fewer login issues, but only if roles and processes are clarified internally. Governance best practices: Document who your account administrators are. Train staff to stop emailing CCCs. Add EDGAR Next responsibilities into your annual compliance cycle. FAQ: Questions Issuers Are Already Asking Q: What happens if our main account administrator leaves the company? A backup account administrator can step in when needed, which is why two (or more) are required. TMX Newsfile provides five account administrators if the company has opted for TMX Newsfile Leads. Q: How do we securely provide the new CCC to outside counsel or agents? Grant filing authority to your chosen filer by using the delegation feature within EDGAR Next, which ensures secure access without ever needing to share sensitive credentials. Q: What is the Annual Confirmation? Once a year, an account administrator must log in to confirm your CIK details are correct. Missing it means filing access is suspended until completed. Q: Do I still need my filing agent? Yes, but instead of sharing codes, you delegate filing rights through the EDGAR Next dashboard. Final Word: Don’t Miss the EDGAR Next Deadline A surge of last-minute enrollments is inevitable. Between login.gov  verification taking several days and potential SEC backlogs, companies that wait any longer risk missing the September 15th compliance date. Check your credentials today, confirm your AAs, and complete enrollment before the rush. By preparing now, you’ll ensure uninterrupted filing access and a smooth transition into the new system. Ready to Get Started? Download our EDGAR Next enrollment form  and send it to office@newsfilecorp.com . Need help or have questions? We’re available 24/7.

September isn’t just back-to-school season—it’s back-to-business season. To see how companies prepare, we analyzed nearly 2,400 press releases from publicly traded companies on TMX Newsfile this summer (July 1 – August 28). The data reveals clear priorities. Financing & Capital Raises ( 25.5% ) and Product Launches & Updates ( 24.8% ) were the two most common strategies, together making up more than 50% of all announcements. But what really captures the market’s attention? Our viewership data shows that while funding and product news are frequent, investors engage most with high-impact events like strong quarterly results, major strategic partnerships, and leadership changes . In this post, you’ll see 11 examples that highlight both sides of the story—what companies rely on most, and the types of news that resonate most with investors in the fall. 11 Press Release Examples to Build Fall Momentum 1. Announcing a Strategic New Hire Leadership changes send a powerful signal: your company is investing in expertise and ready for the next stage of growth. Example:   Avalon Advanced Materials Appoints Lorin Crenshaw as Chief Financial Officer Why it works:  Announcing a CFO appointment just ahead of fall signals Avalon is preparing for year-end execution and a strong 2026. By spotlighting Crenshaw’s capital markets and critical minerals expertise, the release ties leadership change directly to strategy and shareholder value. 2. Launching a New Product or Service Fall is an ideal time to introduce new offerings, aligning with Q4 planning and customer demand. Example:   Worksport Announces Fall 2025 Launch of Highly Anticipated SOLIS & COR Nano-Grid System Following Completion of Major Engineering Milestones Why it works:  By announcing its fall launch months in advance, Worksport creates a momentum driven growth narrative. The release quantifies the opportunity by tripling its addressable market to over $13 billion and projects 8-figure revenue in 2026, building investor confidence well ahead of rollout. 3. Unveiling a Key Partnership Partnerships demonstrate momentum and collaboration, exactly what stakeholders want to see as companies shift out of summer and into the fall business cycle. Example:   Enterprise Group and Plum Gas Solutions Announce Strategic Partnership Why it works: Published just ahead of September, this release signals Enterprise is entering the fall with new momentum. By highlighting complementary strengths and a two-year agreement, the companies show long-term commitment while setting the tone for growth initiatives that will carry into 2026. 4. Highlighting a Seasonal Initiative Tying announcements to the season adds timeliness and relevance. This is perfect for re-engaging stakeholders. Example:   Valkea Resources Commences Fall Exploration Program at the Paana Project and Appoints Exploration Manager in Finland Why it works:  Released on August 26, this announcement is a textbook fall kickoff. Valkea launches a fully funded exploration program while also appointing a new Exploration Manager, combining action and leadership to signal momentum heading into year-end. 5. Celebrating a Major Milestone Marking achievements such as revenue milestones, record breaking results, or anniversaries reinforces stability and progress. Example:   OSU System Breaks All-Time Enrollment Record for Higher Education in Oklahoma Why it works:  Released on August 19 to coincide with the start of the fall semester, this announcement highlights a record 36,934 students across the OSU System. By tying enrollment growth to fall’s back to school energy, OSU shows momentum, community trust, and long term institutional strength. 6. Securing Funding or Financing Show investors you’re resourced and ready for growth. Example:   Neotech Metals Announces Close of Over Subscribed Private Placement and Receives Funds from Warrant Exercises Why it works:  Released in mid-August, this oversubscribed financing and additional warrant proceeds give Neotech fresh capital heading into the fall. Demonstrating strong investor demand and a clear funding runway signals readiness to execute on exploration plans through year-end and into 2026. 7. Showcasing CSR/ESG Initiatives Fall is an ideal time to highlight year-to-date impact and outline commitments for the year ahead. Example:   Equinox Gold Publishes 2024 Sustainability Report Why it works:  Published in mid-July, this report sets the stage for fall investor communications. By detailing measurable ESG achievements and tying executive incentives to sustainability goals, Equinox Gold demonstrates accountability and positions itself as ready to deliver on 2025 priorities. 8. Entering a New Market Geographic expansion demonstrates ambition and long-term strategy. Example:   Energy Plug Technologies and SEETEL New Energy Amplify Strategic Alliance with Exclusive Canadian Rights and Americas Expansion Why it works:  Announced in early July, this partnership sets the stage for fall momentum by combining exclusive Canadian rights with expansion plans across the Americas. By linking Indigenous economic empowerment with global energy expertise, the companies position themselves for sustained growth into year-end and beyond. 9. Winning a Prestigious Award Third party recognition builds credibility and trust. Example:   Wisr AI Named One of Canada's Top 100 AI Companies by All In Summit, Powered by Scale AI and Mila Why it works:  Announced in July ahead of the September All In Summit, this recognition ties Wisr AI’s innovation to Canada’s premier AI event. Awards timed around fall conferences elevate visibility, build investor confidence, and add extra credibility heading into year end. 10. Promoting a Major Event or Conference Appearance Position yourself as an active, visible participant in your industry. Example:   SATO Technologies announces participation at the H.C. Wainwright 27th Annual Global Investment Conference in New York Why it works:  This is a masterclass in strategic timing. SATO doesn’t just announce they’re attending a conference; they bundle it with their Q2 financial results. Published on August 27 for a September 8 conference, the release gives investors fresh data to discuss and a clear call to action: schedule a meeting to talk about these results. This approach turns a simple event announcement into a powerful tool for driving meaningful engagement. 11. Sharing Year-End Guidance/Outlook Set expectations and build confidence as you approach year-end reporting. Example:   Obsidian Energy Announces Second Half 2025 Capital Program and Guidance Why it works:  Released in July, this outlook frames expectations for the rest of the year while signaling discipline in capital allocation. By sharing production targets, spending plans, and even early 2026 optionality, Obsidian gives stakeholders a clear roadmap—strengthening trust ahead of year-end results. Ready to Build Your Fall Momentum ? Whether it’s a strategic hire, a new partnership, or your Q3 results, the right announcement makes all the difference. Our team of experts helps companies craft and distribute press releases that get noticed and build investor confidence. Contact Our Team Today Call:  416-806-1750 Email:   office@newsfilecorp.com Follow us on:   LinkedIn  | X

Legal and compliance press releases may not grab headlines like product launches or marketing campaigns — but they are among the most important announcements a public company issues. These updates are the backbone of transparent disclosure, ensuring you meet regulatory obligations while protecting your credibility in the market. In this post in our “Reasons to Announce”  series, we highlight five critical legal and compliance press release types  every company must get right — with real-world examples you can learn from. 1. Quarterly or Annual Earnings News & Financial Results Quarterly and annual earnings announcements lead the charge in corporate financial news. These press releases cover revenue, expenses, assets, liabilities, and guidance. They provide investors and analysts with the official numbers and context they need to make informed decisions. Examples: Magna Mining Inc. Reports Second Quarter 2025 Financial Results California Nanotechnologies Announces Q3 2025 Results Goldmoney Inc. Reports Fiscal Year 2025 Annual Results and Publishes Annual Letter to Shareholders 2. Material Change Reports & Form 8-K Filings When a material change occurs in Canada, or a Form 8-K is filed in the U.S., companies must issue a press release alongside the filing. These updates ensure all stakeholders have equal access to market-moving information. Material events can include a wide range of corporate actions — such as mergers and acquisitions, major financings, changes in directors or officers, entry into significant contracts, divestitures, or regulatory approvals. In practice, the press release communicates the event in plain language, while the corresponding filing satisfies the regulatory requirement. Examples Benton Closes $1.836 Million in First Tranche of Private Placement Financing QuantGate Systems Inc. Announces Board Changes and Appointment of a New Independent Director 3. Governance & Leadership Changes Changes to your board of directors or executive team must be disclosed. A clear, timely press release reassures stakeholders about continuity and reinforces accountability. Examples: DCS Appoints New CEO and Director to Align with Corporate Strategy Sokoman Minerals Corp. Announces New Leadership Appointments 4. Litigation, Investigations & Settlements While not always positive news, litigation updates are required if they could materially impact your business. Issuing a factual press release shows transparency and helps manage your reputation. Examples: Safe & Green Holdings Announces Final Resolution of Litigation Between SG Blocks and EDI International/PVE Barnwell's Largest Shareholder Demands Investigation Into $3 Million Texas Loss and Urges Action to Recover Millions for Investors 5. Regulatory Approvals & Compliance Milestones Whether it’s an exchange approval, a mining NI 43-101 technical report, or a certification required for your industry, these press releases confirm your company meets regulatory standards. Examples: Synex Renewable Energy Corporation Announces Regulatory Approvals CareRx Initiates Quarterly Divident and Receives Regulatory Approval for Renewal of its Normal Course Issuer Bid Why These Press Releases Matter Legal and compliance announcements aren’t optional. They’re essential for protecting your reputation and meeting disclosure obligations. Done right, they build investor trust, demonstrate transparency, and keep your company in good standing with regulators. Ready to Simplify Your Compliance News? Our team at TMX Newsfile helps public companies distribute filings and press releases through SEDAR+, EDGAR, and trusted newswire channels, ensuring your disclosures reach the right stakeholders with accuracy and speed. 👉 Contact us today  to learn how we can support your compliance communications.

Saturn Oil & Gas, a publicly traded Canadian energy producer, needed a faster and more efficient disclosure workflow to support their continuous news cycle. After encountering delays with a competing newswire, the company turned to TMX Newsfile for a solution that delivered speed, simplicity, and dependable, high-touch service. “TMX Newsfile makes our continuous disclosure process efficient, straightforward, and reliable.” — Cindy Gray, VP Investor Relations, Saturn Oil & Gas This case study is based on insights provided by Cindy Gray, Vice President of Investor Relations at Saturn Oil & Gas. About Saturn Oil & Gas Saturn Oil & Gas is a TSX-listed Canadian energy company committed to responsible development, operational transparency, and consistent communication with shareholders. As an active public issuer, Saturn manages a steady cadence of press releases, regulatory filings, and time-sensitive disclosures — all of which require a streamlined, dependable workflow. The Challenge Before partnering with TMX Newsfile, Saturn relied on a competing newswire platform. While functional, it created unnecessary friction: Loading and preparing a press release often took longer than it should. Approval timing was slowed by the system’s inefficiencies. The platform wasn’t built for fast-moving IR environments where minutes matter. As a TSX-listed issuer, Saturn relies on press release distribution for continuous disclosure to keep the market informed quickly and accurately. The Saturn IR team needed a disclosure partner that could match the pace and precision required for public-company communication. Why TMX Newsfile Was the Right Fit Saturn Oil & Gas selected TMX Newsfile because it delivered across the core areas that matter most to public issuers: speed, ease of use, strong service support, and a simplified partnership model. Service Excellence A defining part of Saturn’s experience has been the quality of support provided by the TMX Newsfile team. Cindy Gray highlighted the impact of this hands-on approach: “Everything is going very well and Newsfile delivers great service.” — Cindy Gray, VP Investor Relations, Saturn Oil & Gas Cindy’s experience reflects the broader service standard TMX Newsfile provides — fast responses, knowledgeable support, and service aligned with capital markets requirements. Speed & Efficiency One of Saturn’s biggest challenges was how long it took to load and prepare releases on their previous platform. With TMX Newsfile, the difference was immediate. Releases now load quickly, supporting tighter internal approval timelines and helping the IR team stay fully aligned with continuous disclosure obligations. Ease of Use The intuitive design of the Newsfile portal removed friction from the workflow. Saturn’s team found the platform simple, logical, and fast — making their entire release process more predictable and easier to manage. A Unified, Simplified Partnership Another major benefit for Saturn was the ability to consolidate all distribution and disclosure services under one clear, easy-to-understand contract. This clarity reduces administrative complexity and gives the IR team confidence in both budget planning and workflow consistency. Results Since adopting TMX Newsfile, Saturn Oil & Gas has experienced measurable improvements: Noticeably faster press release preparation A smoother, more reliable continuous disclosure workflow Dependable, high-touch service during time-sensitive announcements Simplified contracting and year-round support Stronger confidence in accuracy, timing, and compliance Saturn’s results reflect a consistent experience across the TMX Newsfile platform—faster workflows, high-touch support, and a more efficient continuous disclosure process. A Standout Success One of the most impactful outcomes was Newsfile’s ability to package all services into a single, streamlined contract. For a public issuer with recurring disclosure cycles, this predictability and clarity are invaluable. Final Perspective Cindy shared a guiding principle that mirrors the mindset behind TMX Newsfile’s service approach: “Never stop giving 110% in everything you do, and it's not the mistakes we make in life that people remember — it's how you deal with them.” — Cindy Gray, VP Investor Relations, Saturn Oil & Gas At TMX Newsfile, this commitment shows up in responsive, knowledgeable support and a platform built to help issuers communicate confidently with the market. One Word to Describe TMX Newsfile “Excellent.” A single word Cindy Gray uses to sum up the speed, reliability, and service quality Saturn depends on for timely, compliant disclosure. TMX Newsfile supports issuers with fast, compliant press release distribution and efficient SEDAR+ and EDGAR filings. If your team is exploring ways to streamline continuous disclosure, we’re here to help.

The year-end sprint is on. For your Investor Relations team, the time between now and the end of Q1 2026 will be packed with financial reporting, proxy statements, and regulatory filings. But there’s also a shift happening . Alongside the usual deadlines, the SEC has launched a new Cyber and Emerging Technologies Unit , scheduled public discussions on AI-related disclosure impacts , and paused or revisited portions of its climate and ESG rulemaking . In Canada, the CSA has paused work on its proposed climate and diversity disclosure rules while reminding issuers that material climate risks must still be disclosed under existing securities law. Navigating this isn’t just about meeting deadlines. It’s about protecting your market credibility, clarity, and investor trust. We built this guide to be your single source of truth for the season. It’s not just a list of dates — it’s a strategic checklist designed to help your team stay aligned, informed, and ready for 2026. Short on time?    Download the complete 2-page PDF checklist   to print and share with your team. 1. Immediate Action Required: The Final EDGAR Next Cutoff (Dec 19) Before looking at 2026 dates, there is one immediate hurdle for U.S. Filers . The initial EDGAR Next deadline passed on September 15, 2025. If you have not yet enrolled, your ability to file is currently blocked . The Window:  You can still enroll via the dashboard until Friday, December 19, 2025 . The Risk:  If you miss this December 19 cutoff, you can no longer self-enroll. You will be forced to submit an Amended Form ID , which requires manual SEC review and additional documentation. Action Item:  Do not risk entering the 10-K season with a blocked account. If you are unsure of your status, contact the TMX Newsfile filing desk. 2. Your 2026 Key Filing Deadlines (U.S. & Canada) First, let's lock in the dates. Missing these is not an option. The following table assumes a December 31, 2025, fiscal year-end. U.S. SEC EDGAR Deadlines Filing Filer Status Deadline (Days after FYE) 2026 Due Date Form 10-K Large Accelerated Filer 60 days Monday, March 2, 2026 Form 10-K Accelerated Filer 75 days Monday, March 16, 2026 Form 10-K Non-Accelerated Filer 90 days Tuesday, March 31, 2026 Form 13F (Q4) Institutional Managers 45 days after quarter-end Tuesday, February 17, 2026 Proxy (DEF 14A) All Filers 120 days after FYE Thursday, April 30, 2026 Pro Tip:  Your Form 10-K and your Annual Report to Shareholders are separate. Ensure your TMX Newsfile distribution, your 10-K filing, and your website update are perfectly coordinated. Canadian CSA SEDAR+ Deadlines Filing Issuer Type Deadline (Days after FYE) 2026 Due Date Annual Fin. Statements TSX Issuers 90 days Tuesday, March 31, 2026 Annual Fin. Statements TSX Venture Issuers 120 days Thursday, April 30, 2026 AIF, MD&A All (non-Venture) 90 days Tuesday, March 31, 2026 AIF, MD&A TSX Venture Issuers 120 days Thursday, April 30, 2026 SEDAR+ Check-in:  The March 2025 updates to SEDAR+ refined prospectus filing and fee calculations. Ensure your profile's "Type of investment fund" and "Category of investment fund" are correct to avoid fee miscalculations. 3. Four Disclosure Hotspots to Review No w (U.S. & Canada) Deadlines are just one part of the challenge. The content  of your disclosures is under more scrutiny than ever. Here are the three topics that must be on your radar for your 2025 10-K and 2026 proxy. Cybersecurity: The 4-Day Rule is in Effect The SEC's new cybersecurity rules are no longer hypothetical. What's New:  You now have four business days  to disclose a "material" cybersecurity incident via Form 8-K. Your Year-End Action:  This isn't just an IR task; it's an enterprise-wide one. Your 10-K must now include a detailed description of your "processes for assessing, identifying, and managing material risks from cybersecurity threats." Key Question:  Does your IR team have a direct, 24/7 line to your CISO and legal counsel? You must be able to close the loop from detection  to determination of materiality  to filing  within that 4-day window. Artificial Intelligence: The Rise of "AI Washing" There is no "Form AI," but SEC scrutiny is extremely high. SEC Chair Gensler has been clear: if you are making claims about AI, they must be accurate. What's New:  Investors and regulators are actively hunting for "AI washing"—making misleading claims about your AI capabilities to boost your stock price. Your Year-End Action:  Review your 10-K Risk Factors and MD&A. Are you using AI?  Disclose how it impacts your business, financial performance, and potential risks (e.g., data privacy, "hallucinations," model integrity). Are you not  using AI?  You may need to disclose if not  adopting AI poses a material competitive risk. Key Question:  Are your marketing claims about AI supported by the same evidence as your financial statements? ESG & Climate: Prepare for Data-Driven Disclosures With the CSA pausing new climate-related rules, the core requirement remains the same: if climate risks are material, they must still be disclosed in your AIF, MD&A, 10-K, or proxy — just like any other business risk. What’s New: Canada now has voluntary CSDS 1 and CSDS 2 standards , aligned with ISSB S1 and S2. They aren’t mandatory, but they’re quickly becoming a go-to reference for credible climate and sustainability reporting, and the CSA has encouraged issuers to use them when preparing voluntary disclosures. Your Year-End Action: Treat climate and ESG as part of your financial risk narrative, not a separate sustainability story. Make sure any ESG or sustainability reporting aligns with what appears in your regulatory filings. Key Question: Can your team clearly show how climate-related risks or opportunities may affect performance or long-term strategy? Reviewing Your Risk Factors & Safe Harbor Language This is the perfect time to ensure your "Forward-Looking Statements" (Safe Harbor) language isn't on autopilot. Your boilerplate from last year may not adequately cover the new, less predictable risks you're facing. Your Year-End Action:  Review your risk factors and safe harbor disclaimer with legal counsel. Ask: Does our language specifically account for the uncertainties of new technologies like AI, the unpredictable nature of cybersecurity threats, or the evolving landscape of climate-related events? Updating this language is a critical, high-level exercise to protect your leadership. 4. Your Downloadable PDF: The Ultimate Checklist This is a lot to manage. To help you and your team stay aligned, we've distilled all these deadlines, new rules, and best practices into a single, two-page PDF. Use this checklist to: Align  your IR, Legal, Finance, and IT teams. Verify  every step in your filing process. Ensure  no new disclosure requirement is missed. CLICK HERE TO DOWNLOAD YOUR FREE 2025 YEAR-END COMPLIANCE CHECKLIST PDF 5. Beyond the Filing: How TMX Newsfile Is Your Partner A flawless year-end is about more than just hitting "submit" on EDGAR and SEDAR+. It's about ensuring your message reaches the market with confidence and clarity. This is where we help. 24/7/365 Expert Support:  Our filing desk has successfully managed over 200,000 regulatory filings. When you're working late on a Friday before a deadline, so are we. We are your fail-safe. Seamless SEDAR+ & EDGAR Integration:  We are not just experts in one system. We are a single, seamless partner for all your North American regulatory and distribution needs. Amplify Your Message:  Don't just file  your 10-K. Use TMX Newsfile's unparalleled global distribution to amplify  your year-end narrative, ensuring your story reaches key analysts, investors, and financial media at the exact moment it becomes public. The 2026 reporting season will be the most complex yet. But with the right plan and the right partner, you can navigate it with confidence. Ready for a smoother filing season?   Talk to a TMX Newsfile expert today and see how we can streamline your year-end process.