Equity Crowdfunding in Saskatchewan

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Quick presentation of the Government of Saskatchewan's proposed equity crowdfunding exemption

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Equity Crowdfunding in Saskatchewan

  1. 1. Equity Crowdfunding in Saskatchewan
  2. 2. Chair & CEO of Financial & Consumer Affairs (FCAA) Saskatchewan Dave Wild visited VendAsta in August
  3. 3. Now they’re looking for feedback ● They’ve created a policy framework ● Asking for feedback ● Next step is put into law
  4. 4. What does this mean? ● Last chance to give the government input ● We want them to make the right choices ● Affects entrepreneurs and developers who want to raise money $ ● Example: raise a bit of money to build a mobile app* * Can still raise money, but cannot give out equity in return
  5. 5. Policy at a glance ● Businesses will be able to make two, six-month offerings of $150,000 each during a year. ● The business cannot be a reporting issuer or an investment fund and cannot offer derivative type securities. ● Businesses must give FCAA notice of their intention to issue an offering 10 business days before posting online. ● The business cannot charge investors a commission or other amounts. ● Both the business and the investor must be located in Saskatchewan ● The business must report their sales to FCAA within 30 days of the offering’s close. ● No person may invest more than $1,500 in an offering. ● There are no fees payable to the FCAA for the offering.
  6. 6. and give you input to the gov’t! Please share this!
  7. 7. Deadline & More Info ● Feedback Deadline: Nov. 6, 2013 ● More info: http://www.fcaa.gov.sk.ca/SKEC_Consultation ● Presentation at VendAsta’s Ideas on Tap: ○ Part 1: http://www.youtube.com/watch?v=EXzyqIxeoyU ○ Part 2: http://www.youtube.com/watch?v=zo2wtZoDeo8

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