CALGARY, AB, November 10, 2021 / CNW / – The Alberta Securities Commission (ASC) today adopted a new discoverer registration exemption to help start-ups and other small businesses in Alberta raise funds.
The new Small Business Finder Tool exemption is intended to help small businesses use research tools to raise funds. It replaces the general order ASC 31-505 Exemption from registration for transactions relating to certain distributions exempt from prospectus (known as the Northwest Exemption) and provides a more targeted exemption from the broker registration requirement for finders. The new exemption includes a number of conditions and fits better with prospectus exemptions than small businesses. Alberta can count on.
“This new exemption follows the prospectus exemption for self-certified investors and the prospectus exemption for small business finance that we adopted to address the challenges small businesses and start-ups face in accessing capital.” , said Stan magidson, president and CEO of the ASC. âWe recognize that it can be very difficult to find a registered broker who is willing to help raise money for fundings under $ 5 million. This exemption allows small businesses to use research tools to help them identify potential investors, provided they meet specific conditions. “
Details of the new exemption are set out in Notice of Implementation of ASC General Order 31-536. Alberta Small Business Finder Exemption.
The CSA is the regulatory body responsible for administering the securities laws of the province. It is responsible for fostering a fair and efficient capital market in Alberta and with investor protection. As a member of the Canadian Securities Administrators, the CSA strives to improve, coordinate and harmonize the regulation of securities. from Canada capital markets.
SOURCE Alberta Securities Commission
For further information: For media inquiries: Theresa Schroder, Senior Advisor, Communications, 587.830.4286; For Investor Inquiries: ASC Public Inquiries, toll free 1.877.355.4488