Of course if they were still only development, they are in a different category of non-producer and the cash flow doesn't apply. For TSX exempt producer I believe it does. This chart may help, it covers going public, but probably the rules are similar for a move  ... page 11

http://www.blakes.com/english/legal_updates/reference_guides/GoingPublic_TSX_TSXV.pdf

Difference between TSX exempt and non-exempt .. I believe non-exempt remain under greater scrutiny, ie, they have to ask for permission to do various things.