What is a 45-106 filing?

A 45-106 filing,  known as Form 45-106F1 Report of Exempt Distribution, is a mandatory report that companies and underwriters must submit when they distribute securities under certain prospectus exemptions in Canada. 

For example, if you have more than 50 investors, including one or more Canadians, you may be required to file documentation with Canadian securities regulators.  Please consult your legal advisors before commencing the offering.