On March 25, 2021, the Alberta Securities Commission (ASC) and the Financial and Consumer Affairs Authority of Saskatchewan (FCAA) published Multilateral Notice and Request for Comment 45-539 Proposed Prospectus Exemption for Small Business Financing.
The proposed new small business financing prospectus exemption would allow Alberta and Saskatchewan businesses to raise up to $5 million from investors in those provinces who would not qualify to invest under other prospectus exemptions. The exemption contemplates the use of a simple, streamline offering document with tiered offering and investment limits depending on whether financial statements are provided to investors.
Details of the proposal are set out in Canadian Securities Administrators Multilateral Notice and Request for Comment 45-539 Proposed Prospectus Exemption for Small Business Financing.
The comment period expires on May 7, 2021.
For a full copy of the Notice: https://www.albertasecurities.com/securities-law-and-policy/-/media/5AE52337A46A4B609DEDDE339022D280.ashx
For more information, please call Barbara Hendrickson at BAX Securities Law (647) 403-4606.
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