British Columbia, along with 5 other Canadian provinces, recently joined Saskatchewan in allowing Equity Crowdfunding. Reportedly, startups will be permitted to raise up-to $250,000 per offering, twice a year. (Source)
There are two types of crowdfunding according to Forbes contributor and CEO of Crowdfunding, Chance Barnett – 1) Investment Crowdfunding – where startups “sell ownership stakes online in the form of equity or debt” and give investors the opportunity to gain returns on their investment and 2) Donation-Based Funding – “where funders donate via a collaborative goal based process” and are given ‘products, rewards or perks’ not financial returns. (Source)
“Quite simply,” says UCanTrade, Inc.’s President and CEO, Jim Pettinger, “crowd funding allows individuals and small companies to raise venture funds via the internet without the burden of typical fundraising compliance issues.”
BC, along with the other participating provinces including Saskatchewan, will be governed by new harmonized rules.
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