Family, Friends and Business Associates
ASC staff are
conducting a review of the Family, Friends and Business Associates prospectus
exemption that is available to companies raising capital under conditions
contained in section 2.5 of National Instrument 45-106 Prospectus Exemptions. The intent of this review is to better understand the use of
Staff have selected a random sample
of investors from companies that have recently sold securities under this
exemption and reported the sale to the ASC as required by law. These
investors will be contacted by regular mail and asked to complete a questionnaire.
If you receive our letter and questionnaire in early June we request that you complete the
As the selection is random if you receive a questionnaire from the ASC it does not mean that there is a problem with the company or investment.
The overall results will be reviewed by Staff in
the context of the ASC’s mandate to protect investors and foster a fair and
efficient capital market. While summary observations from the survey may become
responses will remain confidential to the fullest extent permitted by law.