Filing Background FAQ

WHAT IS SEDAR?

SEDAR is the System for Electronic Document Analysis and Retrieval, the electronic filing system for the disclosure documents of public companies and investment funds across Canada. It is the system used for electronically filing most securities related information with the Canadian securities regulatory authorities.

Filing with SEDAR started January 1, 1997, and is now mandatory for most reporting issuers in Canada.

SEDAR was developed in Canada for the Canadian Securities Administrators (CSA) to:

• facilitate the electronic filing of securities information as required by the securities regulatory agencies in Canada;
• allow for the public dissemination of Canadian securities information collected in the securities filing process; and
• provide electronic communication between electronic filers, agents and the Canadian securities regulatory agencies.

WHO MANAGES SEDAR?

CDS INC., a subsidiary of the Canadian Depository for Securities Limited, manages the SEDAR system on behalf of the Canadian Securities Administrators (CSA).

CDS is regulated by the Ontario and Quebec securities commissions and the Bank of Canada, with working and reporting relationships with the Canadian Securities Administrators (CSA), other provincial securities commissions and the Office of the Superintendent of Financial Institutions.

WHAT RULES & REGULATIONS GOVERN SEDAR?

National Instrument 13-101 -- System for Electronic Document Analysis and Retrieval (SEDAR) (the "SEDAR National Instrument") adopted by the Canadian Securities Administrators sets out general rules relating to electronic filing of securities documents with the Canadian securities regulatory authorities using the SEDAR system.

The SEDAR Filer Manual published by the Canadian Securities Administrators sets out certain standards, procedures and guidelines for preparing electronic format documents and making electronic filings using SEDAR.

The SEDAR Filer Manual contains a number of SEDAR Forms which may have to be completed by electronic filers or their filing agents to facilitate electronic filing in the SEDAR system.

WHAT DOCUMENTS ARE FILED ON SEDAR?

Most of the documents that are legally required to be filed with the Canadian Securities Administrators and many documents that may be filed with the Canadian exchanges (market centres) are included in the SEDAR system. A complete list of all documents that are included is contained in the SEDAR Filer Manual.

Additional documents may still need to be filed, including insider reports, via SEDI (System for Electronic Disclosure by Insiders). For more information, visit SEDI or click here.

WHEN ARE DOCUMENTS FILED ON SEDAR PUBLICLY ACCESSIBLE?

When a public company or investment fund files securities documents with the Canadian securities regulatory authorities through SEDAR, the documents are initially private and confidential. The securities commissions then make the appropriate documents publicly available after a review process. These public documents will be accessible on the SEDAR web site the following day. Continuous disclosure documents such as news releases, financial statements, notice of meeting dates and annual reports do not require the securities commissions' review and are available on the web site the next day. Updates to a company's profile also appear on the SEDAR web site the following day.

WHAT INFORMATION IS AVAILABLE ON THE SEDAR WEB SITE?

The SEDAR web site contains copies of all documents filed in the SEDAR system that have become available to the public as of the most recently completed business day, as well as profiles of all SEDAR public company and investment fund filers. Documents filed only with Canadian exchanges are not available on the web site.

WHAT IS A SEDAR PROFILE?

The SEDAR profile contains basic information about public companies, investment funds and investment fund groups, such as their addresses, contact information, stock exchange listings.

Ready to file? Contact us. CCNMatthews is an authorized SEDAR and EDGAR Filing Agent.
T 1.888.299.0338 (English) / 1.888.883.1913 (French) email EDGAR / email SEDAR

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