This slideshow was presented at a seminar on June 21, 2011 at Fasken Martineau's Vancouver office highlighting best practices as well as potential legal pitfalls for public companies using social media for disclosure.

1. Social Media: Best Practices for Canadian
Public Companies
Securities and Mergers & Acquisitions Group
June 21, 2011

2. Welcome
• Moderator: Georald Ingborg, Partner, Fasken Martineau
• Panelists:
• Eleanor Fritz, Director, Compliance & Disclosure, TSX
• Rhylin Bailie, Director of Communications/IR, NovaGold
• Caroline Clapham, Associate, Fasken Martineau

3. How you can digitally take part today:
• Share the information you heard here today on Twitter using
the hashtag:
#FaskenSM4Pubcos
• Ask questions of the panellists using the hashtag and an
@reply to:
@CarolineClapham

4. Current Social Media Landscape (Canada)
140
120
Either Twitter or
100 Facebook
Both Twitter and
80 Facebook
60 Twitter Only
40 Facebook Only
20
0

5. Current Social Media Landscape (Canada)
Natural Resources
Technology
Consumer Goods
Airline
Banks

6. Current Social Media Landscape (Canada)
• Average # of Followers = 1,375
• Highest # of Followers = Lululemon
(84k) and Westjet (75k)
• Highest # of Fans = RIM (>7M) and Tim
Hortons (1.6M)

7. NovaGold – a social media leader
Goal: expanding stakeholder reach

8. Implementation: Convincing your Team

9. $NG’s Experience:

10. General vs. Selective Disclosure

11. Material Fact or Material Change?
• Kerr v. Danier Leather Inc. (Supreme Court
Of Canada)
• AiT Advanced Information Technologies
Corporation, Bernard Jude Ashe And
Deborah Weinstein (Ontario Securities
Commission)
Social media implication: material changes
must be generally disclosed

12. Misrepresentations
• Untrue statement
• Half-true Statement – ie. Not enough info
• Unintentional omission to disclose
Social media implication: THERE ARE NO
TAKE-BACKS – every tweet/post is
permanent

13. Third party information
• Endorsements
• Sharing news
• Promotional content
• Entanglement
• Analyst coverage
Social media implication: be careful with
third party disclosure and information

14. Disclaimers and Mandated Disclosure
• Safe harbour statements - when, where
and how
• Technical information
Social media implication: include links to
meet disclosure requirements

15. Dissemination in the United States
• Is your company listed in the US?
• What constitutes dissemination?
• When is dissemination acceptable?
Social media implication: issuers that are not
listed in the United States need to be
attuned to these issues – consult legal
before you post/tweet!