Where You Can Find the Proposed Canadian Equity Crowdfunding Rules and Forms

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Looking for regulations is like looking for easter eggs.In Canada, two equity crowdfunding specific exemption proposals are out for public comment: a start-up crowdfunding exemption and an integrated crowdfunding exemption. Six provinces (including Saskatchewan) are considering implementing the start-up crowdfunding exemption, which is almost identical to the existing Saskatchewan crowdfunding exemption. Six provinces (five of these six provinces are also considering the start-up crowdfunding exemption) are considering implementing the integrated crowdfunding exemption. Several lawyers and other people interested in these proposals have told me they have had difficulty finding the actual rules and forms on the securities regulators’ websites. Here where you can find the proposed Canadian equity crowdfunding rules and forms:

British Columbia Release (Start-Up Crowdfunding Exemption Only)

Manitoba, New Brunswick, Nova Scotia, Quebec, and Saskatchewan Releases (Start-Up Crowdfunding Exemption and Integrated (Ontario) Crowdfunding Exemption)

The integrated crowdfunding exemption being proposed in these provinces is identical to the Ontario crowdfunding proposal, which is why they are referring to it as the “integrated crowdfunding exemption”.

Ontario Release (Integrated (Ontario) Crowdfunding Exemption Only)

You can find more information about these two equity crowdfunding exemptions in other articles on this blog. You may want to start with:

The first article contains a chart of all the exemptions which issuers can use in Canada to crowdfund their securities including the proposed start-up crowdfunding exemption and the integrated crowdfunding exemption.

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This blog is not intended to create, and does not create an attorney-client relationship. You should not act or rely on information on this blog post without first seeking the advice of a lawyer. This material is intended for general information purposes only and does not constitute legal advice. For legal issues that arise, the reader should consult legal counsel.


Alixe_CormickAuthor: Alixe Cormick is the founder of Venture Law Corporation in Vancouver, British Columbia and a member of the Advisory Board of the National Crowdfunding Association of Canada. You can reach Alixe by phone at 604-659-9188, by e-mail at acormick@venturelawcorp.com, on twitter @AlixeCormick or on Google+.

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