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ARTICLE · 27 FEBRUARY 2015

Canadian Securities Regulators Adopt Changes To The Private Placement Regime And Certain Other Specific Changes Adopted By Ontario

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On February 19, 2015, the CSA announced the adoption of certain amendments to National Instrument 45 106 - Prospectus and Registration Exemptions that affect the following private placement or prospectus exemptions.

CanadaCorporate/Commercial Law
Cassels Brock & Blackwell LLP
Cassels Brock & Blackwell LLP
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On February 19, 2015, the Canadian Securities Administrators ("CSA") announced the adoption of certain amendments to National Instrument 45 106 - Prospectus and Registration Exemptions ("NI 45 106") that affect the following private placement or prospectus exemptions:

  1. the accredited investor exemption,
  2. the minimum amount or $150,000 prospectus exemption,
  3. the short term debt prospectus exemption, and
  4. the family, friends and business associates prospectus exemption.

In addition, the Ontario Securities Commission (the "OSC") is introducing a "family, friends and business associates"prospectus exemption, which brings Ontario in line with other Canadian jurisdictions.

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