Lavery Lawyers
  May 15, 2015 - Quebec

Equity crowdfunding - The Autorité des marchés financiers adopts a new prospectus exemption for startups
  by Étienne Brassard and Guillaume Synnott

The Lavery GO inc. Program team is happy to inform you that theAutorité des marchés financiers(AMF) announced yesterday the implementation of an equity crowdfunding exemption which allows startups to raise up to $500,000 in capital per year. Under this exemption, startups whose head office is located in Quebec may offer their shares to public investors through an online participative financing portal that is either relying on the exemption from the dealer registration requirement or is operated by a registered dealer and by using the pre-established offering documents which are available on this portal.

The highlights of this crowdfunding exemption are as follows:

The crowdfunding exemption will also be implemented in British Columbia, Saskatchewan, Manitoba, New Brunswick and Nova Scotia.

This new exemption is excellent news for startups as it will allow them to access a new source of capital to support their development. It also sets up the tone for the much expected Regulation 45-108 respecting Crowdfunding, which is still under discussion among the Canadian Securities Administrators.

For more information respecting this equity crowdfunding exemption, please contact ÉtienneBrassard or GuillaumeSynnott.




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Read full article at: http://www.lavery.ca/en/publications/our-publications/1864-equity-crowdfunding-the-autorite-des-marches-financiers-adopts-a-new-prospectus-exemption-for-startups.html