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Eligible Investor


Subsection 1.1 of National Instrument 45-106 Prospectus and Registration Exemptions defines an “eligible investor” as follows:

1.      A person whose:

     a)     Net assets, alone or with a spouse, in the case of an individual, exceed $400,000,

     b)     Net income before taxes exceeded $75,000 in each of the 2 most recent calendar years and who reasonably expects to exceed that income level in the current calendar year, or

     c)      Net income before taxes, alone or with a spouse, in the case of an individual, exceeded $125,000 in each of the 2 most recent calendar years and who reasonably expects to exceed that income level in the current calendar year,

2. A person of which a majority of the voting securities are beneficially owned by eligible investors or a majority of the directors are eligible investors,

3.      A general partnership of which all of the partners are eligible investors,

4.      A limited partnership of which the majority of the general partners are eligible investors,

5.      A trust or estate in which all of the beneficiaries or a majority of the trustees or executors are eligible investors,

6.      An accredited investor,

7.      A person described in section 2.5 [Family, friends and business associates], or

8.      A person that has obtained advice regarding the suitability of the investment and, if the person is resident in a jurisdiction of Canada, that advice has been obtained from an eligibility adviser;

ELIGIBILITY REQUIREMENTS BY PROVINCE:

Alberta

New Brunswick

Nova Scotia

Ontario

Quebec

Quebec (Francais)

Saskatchewan

(Infographics created by NEMA)