In order to invest in the Fund, you must either invest $150,000 in the Fund or qualify as an accredited investor. Generally speaking, accredited investors include investors resident in Canada who have a certain minimum income or financial asset level.
The following are examples of individuals who would qualify as accredited investors:
- An individual who, either alone or with a spouse, beneficially owns, directly or indirectly, financial assets (which excludes the individual’s home) having an aggregate realizable value that before taxes, but net of any related liabilities, exceeds $1 million.
- An individual whose net income before taxes exceeded $200,000 in each of the 2 most recent calendar years or whose net income before taxes combined with his or her spouse exceeded $300,000 in each of the 2 most recent calendar years and who, in either case, reasonably expects to exceed that net income level in the current calendar year.
- There are numerous other factors that may qualify an investor as accredited. Investors should consult their financial or legal advisor or review the applicable requirements of National Instrument 45-106 (including the definition of “accredited investor” found in Part 1 of the rule) to determine if they qualify as an accredited investor.