You will find crowdfunding offerings posted on the websites of funding portals. A business wishing to raise money through crowdfunding must first complete an offering document outlining its idea and then post the offering document on a funding portal's website and only on that website.

If you need investment advice, you should not invest with a portal with a registration exemption or a restricted dealer portal. Only a registered dealer will determine whether an investment is suitable for you.

Funding portals with a registration exemption and restricted dealer portals cannot give investment advice and so they are prohibited from telling you whether the securities you are subscribing for are a good investment. When you enter a funding portal website, a pop-up notice will inform you whether you will be provided advice or not. You can check with the AMF to see whether any particular funding portal is allowed to do business in Québec by calling the phone number listed below under “Where can I get further information?”.

With securities crowdfunding, investors receive securities in exchange for their investment. This is different than other types of crowdfunding, where you may get a product. Securities crowdfunding is restricted to particular types of securities: debt securities, such as bonds; equity securities, such as common shares or preference shares; limited partnership units; and convertible securities, such as warrants, that are convertible into either common shares or preference shares.

The offering document must describe the type of security you will receive in exchange for your investment.

Once you have committed to purchasing securities, you may withdraw your investment within 48 hours of subscription.

You will also have the right to withdraw your subscription within 48 hours of the funding portal notifying you that the offering document has been amended.

In either case, you must notify the funding portal that you wish to withdraw prior to the end of this 48 hour period by following the instructions provided by the funding portal. The business will be unable to complete the crowdfunding campaign prior to the expiry of the 48 hour period.

For further information please contact:

Information Centre
Québec City: 418-525-0337
Montréal: 514-395-0337
Toll-free: 1-877-525-0337
Fax: 418-647-9963
Email: Request for information This link will open in a new window