Who qualifies as an accredited investor in Canada?

Under National Instrument 45-106 (Prospectus Exemptions), an individual qualifies as an accredited investor in Canada if they meet at least one of several criteria. The most common individual categories are: (1) net income before taxes exceeding $200,000 individually (or $300,000 combined with a spouse) in each of the two most recent calendar years, with a reasonable expectation of exceeding that threshold in the current year; (2) net financial assets (cash, securities, deposits) exceeding $1 million, alone or with a spouse, excluding the primary residence; or (3) net assets of at least $5 million including the primary residence. Directors, executive officers, and control persons of an issuer, registered dealers and advisers, and various institutional entities also qualify.

What is the difference between NI 45-106 and the accredited investor definition?

NI 45-106 is the Canadian Securities Administrators' national instrument covering prospectus exemptions — it lists the exemptions that let issuers sell securities without filing a prospectus. The accredited investor exemption is one of those exemptions, and the definition of who qualifies as an accredited investor is set out within NI 45-106. The two terms are often used interchangeably in practice.

Is this newsletter a securities offering?

No. The newsletter is editorial content — market commentary, research, and analysis — delivered by email to subscribers who self-identify as accredited investors. It is not an offer to sell securities, not a solicitation of investment, and not investment advice as defined by Canadian or US securities law. Mining Stock Report does not sell securities, does not receive compensation from issuers for coverage, and is not a registered dealer.

Do I need to prove accredited investor status to subscribe?

The subscription form requires you to confirm that you meet the accredited investor criteria in your jurisdiction. This self-certification is stored with a timestamp and IP address for compliance record-keeping. If your circumstances change and you no longer qualify, we ask that you unsubscribe — but the content is structured as educational commentary that is informative regardless of accreditation status.

How often does the newsletter publish?

The accredited-investor newsletter publishes weekly, typically on Tuesdays. Each issue covers market commentary, one deep-dive scorecard (including unpublished factor detail and sensitivity analysis not in the public write-up), and links to the week's notable private-placement market activity. A separate quarterly portfolio-review issue summarises position changes and thesis updates.

◆ Accredited Investor Newsletter

Junior mining commentary and research for Canadian accredited investors

A weekly editorial newsletter for qualifying investors — private-placement market commentary, full unpublished scorecards from the Verdict Framework, and quarterly portfolio-review editorial. No paid coverage, no issuer relationships, no pump.

What you get

⚑

Weekly commentary on the private-placement market

Editorial analysis of pre-IPO and private-placement activity across the Canadian junior mining universe — who's raising, on what terms, and what it signals for the broader sector.

≡

Full unpublished Verdict Framework scorecards

The full factor-by-factor scorecard output including discount-rate assumptions, sensitivity analysis, and comparable-transaction math — detail that doesn't appear in the public reports.

◷

Quarterly portfolio-review editorial

Structured commentary on position changes, thesis updates, and post-mortems on closed positions — editorial transparency on what's working and what isn't.

◎

Market-cycle and commodity commentary

Macro commentary on gold, silver, copper, and uranium price dynamics and their implications for junior mining equities — research-grade analysis rather than headline reactions.

Who qualifies

What is an Accredited Investor in Canada?

The definition of an accredited investor in Canada is set out in National Instrument 45-106 (Prospectus Exemptions), the national rule maintained by the Canadian Securities Administrators. The common individual categories of accredited investor under NI 45-106 are:

High-income individuals. Net income before taxes exceeding $200,000 individually (or $300,000 combined with a spouse) in each of the two most recent calendar years, with a reasonable expectation of exceeding that threshold in the current calendar year.
High-net-financial-asset individuals. Net financial assets (cash, securities, cash surrender value of life insurance, deposits, and similar) exceeding $1,000,000, alone or together with a spouse, excluding the primary residence and any debts secured against the primary residence.
High-net-asset individuals. Net assets of at least $5,000,000, alone or together with a spouse — this category does include the primary residence.
Directors, executive officers, and control persons of an issuer, and their spouses.
Persons registered as dealers or advisers under securities legislation.
Various institutional investors — financial institutions, Schedule I/II banks, pension funds, certain trusts managed by registered trust companies, investment funds, and similar entities.

The full list of categories is in section 1.1 of NI 45-106. If you're uncertain whether you qualify, the Ontario Securities Commission publishes an accredited investor overview, and a quick review with a licensed dealer or securities lawyer will give you a definitive answer for your circumstances.

Note on US and other jurisdictions. The US accredited investor definition under SEC Rule 501 differs from the Canadian NI 45-106 definition in several respects — different income thresholds, different treatment of the primary residence in net-worth calculations, and different qualification pathways. Australia uses the "sophisticated investor" concept under the Corporations Act. UK readers should refer to the FCA rules on high-net-worth individuals and sophisticated investors. If you're a non-Canadian accredited investor, we welcome the subscription — just confirm you qualify in your home jurisdiction.

Why this newsletter

Editorial, not sales

Most newsletters that target Canadian accredited investors in the junior mining sector are paid-promotion vehicles — issuers compensate the publisher in cash, shares, or both, in exchange for coverage. The coverage reads like research but functions as marketing. The Mining Stock Report accredited-investor newsletter is structurally different: we do not accept payment from issuers, we do not receive finder's fees or commissions on any introductions, and we are not a registered dealer. The newsletter is editorial content supported by subscription revenue and YouTube revenue, and nothing else.

What that earns you as a subscriber: commentary you can trust to be independent, scorecards that reflect what the framework actually says about a company rather than what a paying client wants it to say, and portfolio-review editorial where losing positions are discussed as openly as winning ones. Most of the sector does not work this way. If that distinction matters to you, you'll probably find value here.

Register to subscribe

We'll review your profile and confirm your subscription by email within 5 business days.

First name

Last name

Email address

Country of residence

Investable capital (mining)

How did you find us?

I confirm I am an accredited investor in my jurisdiction I meet the accredited-investor criteria as defined in my home jurisdiction (NI 45-106 in Canada, Rule 501 in the US, or equivalent) and understand that junior mining investments are speculative and can lose 100% of their value.

I agree to be contacted by email Mining Stock Report may contact me by email regarding the newsletter, editorial content, and related research. I can unsubscribe at any time.

This newsletter is editorial commentary only. It is not an offer to sell or a solicitation to buy any security, not investment advice, and not a recommendation to enter into any transaction. Mining Stock Report is not a registered dealer or adviser. Read our full disclaimer →