CLE Online

Welcome and Introduction 

Early Stage 

• the importance of setting up properly
• founder's shares — dividing the equity and reverse vesting arrangements
• considering a stock option plan to incentivize employees and management
• share structures
• key initial agreements to facilitate a smoother financing down the road

Geoff Pedlow — Fasken Martineau DuMoulin LLP, Vancouver

First Financing — Avoiding the Devil in Your Angel Round 

• SAFE v. note v. equity
• valuation question

Brock H. Smith — Whiteboard Law Corporation, Vancouver

Break

Tax Programs — EBC, CCPC 

• benefits of being an Eligible Business Corporation
• benefits of being a Canadian Controlled Private Corporation
• qualifying activities and main requirements to register as an EBC

Manveer Bisla — Fasken Martineau DuMoulin LLP, Vancouver

Beyond the Bank — Early Stage Debt Financing Options 

• traditional bank financing
• SaaS or other recurring revenue based lending
• venture debt
• dilutive v. non-dilutive debt
• do you need assets?

Martha Martindale — Osler, Hoskin & Harcourt LLP, Vancouver 
Rob Ockeloen — Director, Growth & Transition Capital BC, Business Development Bank of Canada, Vancouver
Greg Smith — Chief Investment Officer, TIMIA Capital Corporation, Vancouver

Networking Lunch

Series A Financing

• sample term sheet
• review of key terms, including share rights, subscription agreement, and shareholders' agreement
• negotiation points

Prentice W. Durbin — Harper Grey LLP, Vancouver
Justin D. Young — Osler, Hoskin & Harcourt LLP, Vancouver

Break

Series A Financing (Cont.) 

• sample closing agenda
• issues that arise in closing

David Ford — Clark Wilson LLP, Vancouver

Post Series A Financing 

• what's different in later rounds
• US investors — issues to consider
• preparing for M & A

James Smith — LaBarge Weinstein LLP, Vancouver 

Closing Remarks