On June 15, 2017, the Ontario Securities Commission (the
"OSC") published OSC Staff Notice 45-715
2017 Ontario Exempt Market Report (the
"Report"). The Report summarizes exempt
market activity in Ontario and provides data regarding the use of
recently introduced prospectus exemptions.
While Canadian issuers represented just 37% (or $27 billion) of
capital raised in Ontario last year through prospectus-exempt
offerings, they accounted for approximately 67% (or 1,600) of
issuers who participated in Ontario's exempt market in 2016.
Other findings highlighted by the OSC in the Report include the
following:
- approximately 57% of the Canadian
issuers that participated in Ontario's exempt market were small
issuers that raise less than $1 million each year
("Small Issuers").
Small Issuers accounted for less than 1% of annual gross proceeds
raised by Canadian issuers in Ontario through prospectus-exempt
offerings;
