To receive funding from Nventure, an Investee must be a private for-profit corporation existing under the laws of Canada or a Canadian Province that has:

• 75% of its assets and 75% of its employees domiciled [regularly report for work at Investee facilities located in] in Northumberland County;
• Registered office in Ontario located in Northumberland County.

Nventure does not invest in the following areas:

• Resource extraction industries;
• Hotels, restaurants, bars, resorts and other tourism-related industries;
• Non-scalable, traditional or “main street” small businesses for which debt financing for stabilization or expansion is preferable to venture capital.

Investments that are eligible for co-investment by Nventure must be made in cash and must generally consist of equity or rights to acquire equity, including investments in:

• Preferred or common shares;
• Convertible debt;
• Options and warrants; and
• SAFEs

Normally, straight debt financing is ineligible for Nventure funding. Investments that are eligible for co-investment by Nventure must:

• Have taken place recently (no more than one hundred and eighty (180) calendar days prior to the application date), or
• Be expected to close in the near future (no later than ninety (90) calendar days after the application date).

All deals submitted must be approved by the Northumberland CFDC Board of Directors at its sole discretion.

The lead Investor profile and documentation to be provided includes:

• Completed Investor Information Form.
• Investor biography, including description of prior investment transaction experience.
• Evidence of membership in group representing qualified and accredited early-stage asset class professionals.

Investee company profile and documentation to be provided includes:

• Completed Investee Information Form.
• Articles of Incorporation.
• Certificate of Good Standing or equivalent.
• Due Diligence Report completed by Investor.
• Pre-closing capitalization table.
• Most recent financial statements.

Investee’s receiving an investment from Nventure will be required to provide the following information on an annual basis via a short survey until Nventure is no longer invested in the Investee:

• # of products commercialized.
• Gross Sales.
• Gross Profit.
• # and type of jobs created.
• Follow-on investment raised.
• Other incremental funding secured.
• # of patent applications submitted.
• # of days until first sale/commercialization.