What is Form 72-503F Report of Distributions outside of Canada (Form 72-503F) and in which jurisdictions does it apply?

Form 72-503F only applies in Ontario and it is used by issuers to report distributions when relying on an exemption in OSC Rule 72-503 Distributions Outside Canada. However, issuers that are filing under OSC Rule 72-503 do not necessarily have to use Form 72-503F. Click on the link ‘Do I have to use Form 72-503F if I am filing under OSC Rule 72-503?’ for more information.

In British Columbia, issuers that rely on an exemption in BC Instrument 72-503 Distribution of Securities outside British Columbia report their distributions using Form 45-106F1 Report of Exempt Distribution.

Section 3 of BCI 72-503 allows a BC issuer to conduct private placements outside BC. Select “Distribution to purchasers outside of local jurisdiction (BC, AB, NB)” in Item 7f of the Form 45-106F1 and Schedule 1 when relying on this exemption in BC.

Section 4 of BCI 72-503 allows a BC issuer to conduct public offerings outside BC. If the issuer is not a reporting issuer in BC, it is required to file a Form 45-106F1 when relying on this exemption in BC. This exemption does not require the completion of a Schedule 1. To ensure the correct filing is made, the filer must select “Create report of exempt distribution (Form 45-106F1) relying on British Columbia local rule BCI 72-503 section 4 (Foreign public offering)” in SEDAR+.