CSA Notice 45-318 Prospectus Exemption for Certain Distributions Through an Investment Dealer

28 01 2016

The Canadian Securities Commission (“CSA”) has published Multilateral CSA Notice 45-318 Prospectus Exemption for Certain Distributions through an Investment Dealer. Securities regulators in Alberta, British Columbia, Manitoba, New Brunswick and Saskatchewan have each adopted a prospectus exemption that, provided certain conditions are met, will allow issuers listed on a Canadian exchange to more easily raise money by distributing securities without the need for a prescribed offering document.

 

You can read the complete notice HERE. Please note that each participating jurisdiction has attached their form of exemption as “Annex A”, attached to the CSA notice.

You can find further discussion in the following summaries which may also be of assistance in understanding the prospectus exemption:

New Investment Dealer Prospectus Exemption Broadens Potential Investor Market for Canadian Listed Issuers – Clark Wilson LLP

Developments to Private Placement Rules Continue as Five Provinces Adopt New Prospectus Exemption – Goodmans LLP

Investment Dealer Prospectus Exemption a Potential Boon to Retail Investors – Dumoulin Black LLP

 


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