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National Instrument 44-101 Short Form Prospectus Distributions
Part 2 Qualification to File a Prospectus in The Form of a Short Form Prospectus
Section 2.5

Alternative Qualification Criteria for Issuers of Guaranteed Convertible Debt Securities or Preferred Shares

An issuer is qualified to file a prospectus in the form of a short form prospectus for a distribution of convertible debt securities or convertible preferred shares in the local jurisdiction, if the following criteria are satisfied:

(a) the debt securities or the preferred shares are convertible into securities of a credit supporter that has provided full and unconditional credit support for the securities being distributed;

(b) the credit supporter satisfies the criteria in section 2.2 if the word issuer” is replaced with “credit supporter” wherever it occurs.”