Accredited investor exemption

Units of the Fund are offered to qualified investors residing in the provinces and territories of Canada (the “Offering Jurisdictions”) pursuant to applicable exemptions from the prospectus requirements of the securities laws in the Offering Jurisdictions. Qualified investors must rely on one of the following exemptions available to purchase units of the fund:

Accredited investor exemption:

The Fund will accept subscriptions from investors who qualify as an “accredited investor” under National Instrument 45-106 respecting Prospectus and Registration Exemptions. If you qualify as an “accredited investor”, you must invest a minimum of $25,000. Some of the most common ways to qualify as an accredited investor are:

• an individual who, either alone or with a spouse, beneficially owns financial assets having an aggregate realizable value that before taxes, but net of any related liabilities, exceeds $1,000,000;
• an individual whose net income before taxes exceeded $200,000 in each of the 2 most recent calendar years and whose net income before taxes combined with that of a spouse exceeded $300,000 in each of the 2 most recent calendar years and who, in either case, reasonably expects to exceed that net income level in the current calendar year;
• an individual who, either alone or with a spouse, has net assets of at least $5,000,000;
• a person, other than an individual or investment fund, that has net assets of at least $5,000,000 as shown on its most recently prepared financial statements.

If none of the above qualification criteria apply to you, click here for a complete list of the accredited investor criteria.