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ARTICLE · 03 AUGUST 2016

Prospectus Exemption for Start-Up Businesses

McMillan LLP
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To facilitate small, local financings by Alberta-based start-up businesses, the Alberta Securities Commission (the "ASC") has implemented ASC Rule 45-517 Prospectus Exemption for Start-up Businesses (the "Start-up Business Exemption" or "ASC Rule 45-517").

CanadaCorporate/Commercial Law
McMillan LLP
McMillan LLP
Jason Haley
Jason Haley
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To facilitate small, local financings by Alberta-based start-up businesses, the Alberta Securities Commission (the "ASC") has implemented ASC Rule 45-517 Prospectus Exemption for Start-up Businesses (the "Start-up Business Exemption" or "ASC Rule 45-517").

The Start-up Business Exemption was implemented to address the funding gap that certain small, early-stage businesses may experience if they are unable to cost effectively use the offering memorandum prospectus exemption or other capital raising exemptions. It can be used by issuers that wish to raise funds through their own contacts or through a traditional registered dealer. It can also be used by issuers to crowdfund and raise funds via an online funding portal, if that funding portal is registered as a dealer.

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