Canadian Regulators Adopt Harmonized Prospectus Rule

    CALGARY, March 13 /CNW/ - The Canadian Securities Administrators (CSA)
announced today that National Instrument 41-101 General Prospectus
Requirements (NI 41-101) and related amendments will come into force on
March 17, 2008.
    NI 41-101 creates a comprehensive and transparent set of national
prospectus requirements for all issuers including certain investment funds.
    "NI 41-101 will make it easier for issuers to distribute securities
across Canada by establishing one standard set of national prospectus rules,"
said Jean St-Gelais, Chair of the CSA and President and Chief Executive
Officer of the Autorité des marchés financiers (Québec). "The new rule will
maintain a high level of disclosure to investors while reducing costs for
issuers wishing to offer securities in more than one jurisdiction."

    The new rule is based on three general principles:

    -   Harmonization and consolidation of the general prospectus
        requirements among Canadian jurisdictions.

    -   Harmonization of the general prospectus requirements with the
        continuous disclosure and short form prospectus disclosure regimes.

    -   Amendments to the principles underlying the general prospectus
        requirements identified as a result of regulatory reviews,
        applications for exemptive relief, or public comment and

    NI 41-101 is coming into force at the same time as Multilateral
Instrument 11-102 Passport System and new national policies that streamline
Canadian regulatory processes for prospectuses and exemptive relief
    NI 41-101 and related amendments are available on several CSA members'
    The CSA, the council of the securities regulators of Canada's provinces
and territories, co-ordinates and harmonizes regulation for the Canadian
capital markets.

For further information:

For further information: Laurie Gillett, Ontario Securities Commission,
(416) 595-8913; Barbara Shourounis, Saskatchewan Financial Services
Commission, (306) 787-5842; Frédéric Alberro, Autorité des marchés financiers,
(514) 940-2176; Andrew Poon, British Columbia Securities Commission, (604)
899-6880; Nicholas A. Pittas, Nova Scotia Securities Commission, (902)
424-6859; Mark Dickey, Alberta Securities Commission, (403) 297-4481; Ainsley
Cunningham, Manitoba Securities Commission, (204) 945-4733; Jane Gillies, New
Brunswick Securities Commission, (506) 643-7745; Marc Gallant, Prince Edward
Island, Office of the Attorney General, (902) 368-4552; Doug Connolly,
Financial Services Regulation Division, Newfoundland and Labrador, (709)
729-2594; Louis Arki, Nunavut Securities Registry, (867) 975-6587; Donald
MacDougall, Securities Registry, Northwest Territories, (867) 920-8984; Fred
Pretorius, Yukon Securities Registry, (867) 667-5225

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