The Securities Commission has granted an exemption from the prospectus requirement to allow investment dealers acting as underwriters or selling group members to use standard term sheets, marketing materials, and conduct road shows for future offerings under a Multijurisdictional Disclosure System (MJDS) base shelf prospectus. This exemption is provided under the condition that these activities comply with the approval, content, and other requirements of Part 9A of National Instrument 44-102 Shelf Distributions, which governs non-MJDS shelf distributions in Canada. National Instrument 71-101 The Multijurisdictional Disclosure System does not have equivalent provisions to Part 9A of NI 44-102, hence the need for the exemption. The decision is based on the understanding that Canadian purchasers will only be able to buy securities through registered investment dealers in their jurisdiction. The exemption is contingent on adherence to the conditions and requirements as if the MJDS shelf prospectus were a final base shelf prospectus under NI 44-102.
