The Ontario Securities Commission (OSC) has issued an exemption order which allows a Canadian platform to offer tokenized production financing opportunities. The decision was issued after the OSC’s LaunchPad team reviewed the proposal to ensure investors will avoid lengthy waits before monetizing their investment.
Armed with this ruling, BlockFilm can now pursue funding of content on TokenFunder, a regulated Canadian digital securities issuance and trading platform. They will attempt to bring together content producers and accredited investors to finance independent media. The platform will issue security tokens which cover equity, debt, and any revenue share methods. Those tokens represent fractional ownership or debt instruments which provide new sources of private capital.
TokenFunder is owned by TokenGX, an exempt market dealer. It will onboard and serve investors and also facilitate investment transfers between participants. That allows for a much earlier potential exit than is usually the case with most investments in film production.
“We’re excited about this partnership with TokenFunder. Backed by blockchain integrity, security and transparency, we are responding to challenges our industry has faced for decades,” says Pauline Couture, co-CEO of BlockFilm. “The BlockFilm solution is unmatched today and shows true global leadership from the OSC. BlockFilm will be transformational for both content producers and investors.”
BlockFilm has 11 projects listed that are being produced in Canada, Europe, and the United Kingdom. Its goal is to raise $19.1 million CDN before the end of 2021. It expects to seek up to $175 million CDN in 2022 for more than 100 projects.