Are you an "Accredited Investor"?
An "accredited Investor" has the meaning ascribed to it in section 2.3 of National Instrument 45-106 – Prospectus and Registration Requirements.
The most common definitions* of an accredited investor are as follows:
a)
A person registered under the securities legislation of a jurisdiction of Canada, as an advisor or dealer [e.g.: someone that is MFDA or IROC licensed], other than a Exempt Market Dealer registered under the Securities Act (Ontario) or the Securities Act (Newfoundland and Labrador);
b)
An individual registered or formerly registered under the securities legislation of a jurisdiction of Canada as a representative of a person or company referred to in (a) above;
c)
An individual who, either alone or with a spouse, beneficially owns, directly or indirectly, financial assets having an aggregate realizable value that, before taxes, but net of any related liabilities, exceeds $1,000,000. For the purposes of this clause, financial assets include only cash and securities;
d)
An individual whose net income before taxes exceeded $200,000 in each of the two (2) most recent calendar years or whose net income before taxes combined with that of a spouse exceeded $300,000 in each of those years and who, in either case, has a reasonable expectation of exceeding the same net income level in the current year;
e)
An individual who, either alone or with a spouse, has net assets of at least $5,000,000;
f)
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; or
g)
A company or corporate entity which all of the owners of interests, direct, indirect or beneficial, except the voting securities required by law to be owned by directors, are persons that are accredited investors.
*These definitions are interpretive and investors are encouraged to review the National Instrument themselves or seek advice.