On September 27, 2001 the Alberta and British Columbia Securities Commissions published for comment proposed Multilateral Instrument 45-103 Capital Raising Exemptions. The proposed Instrument is intended to harmonize a number of the exemptions from the prospectus and registration requirements commonly used in private placements in British Columbia and Alberta and to consolidate a variety of exemptions into four new exemptions.

type Proposal for New Private Placement Regime in British Columbia and Alberta