Ontario Securities Commission Rule 45-501 Ontario Prospectus and Registration Exemptions

AMENDMENTS TO ONTARIO SECURITIES COMMISSION RULE 45-501 ONTARIO PROSPECTUS AND REGISTRATION EXEMPTIONS

1. Ontario Securities Commission Rule 45-501 Ontario Prospectus and Registration Exemptions is amended by this Instrument.

2. Section 5.1 is amended by deleting "and" at the end of paragraph (f.1), and by adding the following paragraph:

(f.2) section 5 of National Instrument 45-110 Start-up Crowdfunding Registration and Prospectus Exemptions, and

3. The following subsection is added after subsection 5.2(1):

(1.1) For the purposes of section 130.1 of the Act, the method of furnishing or delivering an offering document under Multilateral Instrument 45-108 Crowdfunding or National Instrument 45-110 Start-up Crowdfunding Registration and Prospectus Exemptions to a prospective purchaser includes making the offering document available to the prospective purchaser through a funding portal, as defined in the respective instruments.

4. Subsection 5.4(2) is replaced by the following:

(2) The requirement in subsection (1) does not apply to an offering memorandum prepared and filed with the Commission in accordance with section 2.9 of NI 45-106, Multilateral Instrument 45-108 Crowdfunding, or National Instrument 45-110 Start-up Crowdfunding Registration and Prospectus Exemptions.

5. This Instrument comes into force on September 21, 2021.