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ASC advances new capital-raising initiatives for start-up businesses

  • Securities - ASC Image

Jul 26, 2016

On July 26, 2016, the Alberta Securities Commission (ASC) announced that it is moving forward with two initiatives designed to facilitate capital-raising for small and medium-sized enterprises while providing appropriate investor protection.

First, the ASC has adopted ASC Rule 45-517 Prospectus Exemption for Start-up Businesses (ASC Rule 45-517). The new rule is available immediately to help facilitate Alberta-based small or start-up issuers seeking to raise modest amounts of capital from Alberta investors. ASC Rule 45-517 provides a prospectus exemption that can be used with or without a funding portal or other registered dealer. It is designed to clearly explain and limit risks for investors.

Second, the ASC has published for a 30-day comment period Multilateral Instrument 45-108 Crowdfunding (MI 45-108). If adopted, MI 45-108 would allow Alberta issuers to raise somewhat larger amounts through crowdfunding offerings across multiple jurisdictions in Canada.

Review the press release on the ASC's website.

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