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Generating
Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions
Part 1 Definitions and Interpretation
Section 1.5

Redeemable Securities as Consideration in Business Combination

For the purposes of this Instrument, if all or part of the consideration that holders of affected securities receive in a business combination consists of securities that are redeemed for cash within seven days of their issuance, the cash proceeds of the redemption, rather than the redeemed securities, are deemed to be consideration that the holders of the affected securities receive in the business combination.