On Nov. 10, CSA ALB adopted new small business finder's exemption.
CSA ALB ASC adopted new registration exemption for finders to help start-ups, other small businesses in Alberta to raise capital, replacing ASC Blanket Order 31-505.
Provides more targeted exemption from dealer registration requirement for finders.
Summary
The new exemption follows self-certified investor and small business financing prospectus exemptions used to address challenges by small, early stage business.
It allows a finder who meets certain conditions to intermediate the sale of securities of an Alberta Small Business Issuer once it falls under certain prospectus exemptions.
Effectiveness
Exemption is effective as of Nov. 10, 2021 and will sunset repeal on Nov. 11, 2024.
