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ASC adopts a new registration exemption for finders to help start-ups and other small businesses in Alberta raise capital

  • Securities - ASC Image

Nov 11, 2021

On November 11, 2021, the Alberta Securities Commission (ASC) adopted a new registration exemption for finders to help start-ups and other small businesses in Alberta raise capital.

The new small business finder’s exemption is intended to help small businesses use finders to raise money. It replaces ASC Blanket Order 31-505 Registration Exemption For Trades In Connection With Certain Prospectus-Exempt Distributions (known as the northwestern exemption) and provides a more targeted exemption from the dealer registration requirement for finders. The new exemption includes a number of conditions and better integrates with prospectus exemptions that small businesses in Alberta can rely on.

Details of the new exemption are set out in ASC Notice of Implementation of ASC Blanket Order 31-536, Alberta Small Business Finder’s Exemption and ASC Blanket Order 31-536Alberta Small Business Finder’s Exemption.

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