On September 23, 2021 the Ontario Minister of Finance recently approved National Instrument 45-110 Start-Up Crowdfunding Registration and Prospectus Exemptions (NI 45-110) and consequential amendments to other instruments (the Consequential Amendments). NI 45-110 provides harmonized national registration and prospectus exemptions to facilitate securities crowdfunding for start-ups and early stage issuers. The Consequential Amendments include consequential amendments to the following instruments:

  • National Instrument 45-102 Resale of Securities,
  • Ontario Securities Commission Rule 11-501 Electronic Delivery of Documents to the Ontario Securities Commission,
  • Ontario Securities Rule 45-501 Ontario Prospectus and Registration Exemptions, and
  • Ontario Securities Commission Rule 13-502

The Rules and other amendments came into force in Ontario on September 21, 2021.

Please see: https://www.osc.ca/sites/default/files/2021-06/csa_20210623_45-110_crowdfunding-registration-prospectus-exemptions_0.pdf

For more information, please call Barbara Hendrickson at BAX Securities Law (647) 403-4606.

This publication is not intended to constitute legal advice. No one should act on it or refrain from acting on it without consulting with a lawyer. BAX does not warrant or guarantee the accuracy or currency or completeness of the publication. No part of this publication may be reproduced without the prior written permission of BAX Securities Law.