This notice governs the use of this website. By accessing this website, you agree to the following terms. If you do not agree to these terms, do not access this website.

Access and Use of Website

This website is for the user’s own personal use. The user may not sell, copy, publish, distribute, transfer, modify, display, reproduce and/or create any derivative works from the information or software on this website. The user also may not redeliver any of the pages, text, images, or content of this website using “framing” or similar technology. P&NG Capital Ltd. and its affiliates (together, “P&NG”) reserve the right to monitor the use of this website.

Modification of Website

P&NG reserves the right to change, modify, add, and/or delete any sections of the website or the terms and conditions of access or use without notice and any such change, modification, addition and/or deletion shall be effective immediately upon posting. P&NG recommends that users periodically review the contents of this website for possible modifications. P&NG will not be held liable for any changes which may result in the information presented herein being inaccurate.

Accredited Investors

An accredited investor will be provided with certain information on this site not available to individual investors. You are an accredited investor if you are one of the following:
a. a Canadian financial institution, or a Schedule III bank,

  1. the Business Development Bank of Canada incorporated under the Business Development Bank of Canada Act (Canada);
  2. a subsidiary of any person referred to in paragraph (a) or (b), if the person owns all of the voting securities of the subsidiary, except voting securities required by law to be owned by directors of that subsidiary,
  3. a person registered under the securities legislation of a jurisdiction of Canada as an adviser or dealer, other than a person registered soled as a limited market dealer under one or both of the Securities Act

(Ontario) or the Securities Act (Newfoundland and Labrador),

  1. an individual registered or formerly registered under the securities legislation of a jurisdiction of Canada as a representative of a person referred to in paragraph (d),
  2. the Government of Canada or a jurisdiction of Canada, or any crown corporation, agency or wholly owned entity of the Government of Canada or a jurisdiction of Canada,
  3. a municipality, public board or commission in Canada and a metropolitan community, school board, the Comité de gestion de la taxe scolaire de l’île de Montréal or an intermunicipal management board in Québec,
  4. any national, federal, state, provincial, territorial or municipal government of or in any foreign jurisdiction, or any agency of that government,
  5. a pension fund that is regulated by either the Office of the Superintendent of Financial Institutions (Canada) or a pension commission or similar regulatory authority of a jurisdiction of Canada,
  6. an individual who, either alone or with a spouse, beneficially owns, directly or indirectly, financial assets having an aggregate realizable value that before taxes, but net of any related liabilities, exceeds $1,000,000,
  7. an individual whose net income before taxes exceeded $200,000 in each of the 2 most recent calendar years or whose net income before taxes combined with that of a spouse exceeded $300,000 in each of the 2 most recent calendar years and who, in either case, reasonably expects to exceed that net income level in the current calendar year,
  8. an individual who, either alone or with a spouse, has net assets of at least $5,000,000,
  9. a person, other than an individual or investment fund, that has net assets of at least $5 000 000 as shown on its most recently prepared financial statements,
  10. an investment fund that distributes or has distributed its securities only to
    (i) a person that is or was an accredited investor at the time of the distribution,
    (ii) a person that acquires or acquired securities in the circumstances referred to in sections 2.10 and 2.19 of National Instrument 45-106 Prospectus and Registration Exemptions, or
    (iii) a person described in paragraph (i) or (ii) that acquires or acquired securities under section 2.18 of National Instrument 45-106 Prospectus and Registration Exemptions,
  11. an investment fund that distributes or has distributed securities under a prospectus in a jurisdiction of Canada for which the regulator or, in Québec, the securities regulatory authority, has issued a receipt,
  12. a trust company or trust corporation registered or authorized to carry on business under the Trust and Loan Companies Act (Canada) or under comparable legislation in a jurisdiction of Canada or a foreign
    jurisdiction, acting on behalf of a fully managed account managed by the trust company or trust corporation, as the case may be,
  13. a person acting on behalf of a fully managed account managed by that person, if that person (i) is registered or authorized to carry on business as an adviser or the equivalent under the securities legislation of a jurisdiction of Canada or a foreign jurisdiction, and (ii) in Ontario, is purchasing a security that is not a security of an investment fund,
  14. a registered charity under the Income Tax Act (Canada) that, in regard to the trade, has obtained advice from an eligibility adviser or an adviser registered under the securities legislation of the jurisdiction of the registered charity to give advice on the securities being traded,
  15. an entity organized in a foreign jurisdiction that is analogous to any of the entities referred to in paragraphs (a) to (d) or paragraph (i) in form and function,
  16. a person in respect of which all of the owners of interests, direct, indirect or beneficial, except the voting securities required by law to be owned by directors, are persons that are accredited investors,
  17. an investment fund that is advised by a person registered as an adviser or a person that is exempt from registration as an adviser, or
  18. a person that is recognized or designated by the securities regulatory authority, or, except in Ontario and Québec, the regulator as an accredited investor.

Acknowledgement of Investment Risk

The investments and strategies discussed in the contents of website may not be suitable for all investors and are not obligations of, or guaranteed by, P&NG. The investments are not bank deposits and are not insured by the Canadian Deposit Insurance Corporation (“CDIC”), Canadian Investor Protection Fund (“CIPF”), Federal Deposit Insurance Corporation (“FDIC”), or any other entity and are subject to investment risks, including the loss of the principal amount invested. These contents do not constitute an offer or a solicitation of an offer to buy and sell securities, commodities, and/or any other financial instruments. The contents of this website are not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation. P&NG makes no representations that the contents are appropriate for use in all locations, or that the transactions, securities, products, and instruments or services discussed at this website are available or appropriate for sale or use in all jurisdictions, or countries or by all investors or counterparties. All persons and entities accessing this website do so on their own initiative and are responsible for compliance with local laws and regulations. The information and opinions herein are provided for informational purposes only, are subject to change and should not be relied upon as the basis of your investment decisions. Past performance is not necessarily indicative of future performance.

Forward-Looking Statements

Certain statements in this website may constitute “forward-looking” statements that involve known and unknown risks, uncertainties and other factors that may cause actual returns of investments to be materially different from any future returns or values expressed or implied by such forward-looking statements. Forward-looking statements typically include words such as “may”, “will”, “expect”, “believe”, “plan”, “intend” and other similar terminology. These statements reflect current expectations regarding future events and speak only as of the date of being posted to this website. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or returns, and will not necessarily be accurate indications of whether or not such returns will be achieved.

Although forward-looking statements contained in this website are based upon what P&NG and its advisors believe are reasonable assumptions, P&NG cannot assure you that actual results, returns or events will be consistent with these forward-looking statements. Forward-looking statements are made as of the date of being posted to this website, and P&NG assumes no obligation to update or revise them to reflect new events or circumstances.

Disclaimer of Liability

The contents at this website, including text, graphics, links and/or other items, have been prepared based upon sources, materials and systems believed to be reliable and accurate, and are provided to you on an “as is” and “as available” basis. P&NG makes no representations, and disclaims all express, implied and statutory warranties of any kind to you or any third party, including, but not limited to, representations and warranties regarding accuracy, timeliness, completeness, merchantability, fitness for any particular purpose, non-infringement of third party rights and/or freedom from computer virus. P&NG assumes no responsibility for the consequences of any errors or omissions. The views expressed herein do not necessarily reflect the views of P&NG as a whole or any part thereof, nor do they constitute investment or any other advice. . No information on this site constitutes investment, tax, legal or any other advice.

Internet software or transmission problems may produce inaccurate or incomplete copies of information and materials that may be downloaded and displayed on a user’s computer. P&NG does not warrant that this website, the sites to which this website may be linked, and any information or other material downloaded from this website, or linked sites, will be uninterrupted, error-free, or free of viruses, defects or other harmful components. P&NG is not liable for any damages, changes or omissions that occur during the transmission of information and materials.
In no event shall P&NG be liable for any damages, including without limitation, direct or indirect, special, incidental, or consequential damages, losses or expenses arising in connection with this website, the information and services provided herein, or the use thereof or inability to use the website by any party, or in connection with any failure, performance, error, omission, interruption, defect, delay in operation or transmission, computer virus or line or system failure, even if P&NG, or representatives thereof, are advised of the possibility of such damages, losses or expenses. Use of hyperlinks to other internet resources is at your own risk.

Intellectual Property

The information contained on this site is subject to and protected by copyright, trademark and other applicable intellectual property and proprietary rights laws. It must not be reproduced, copied or redistributed in whole or in part and any unauthorized use of this Web Site, content and any other intellectual property contained herein is strictly prohibited. The contents are owned or controlled by P&NG or a party credited as the provider of the contents.


P&NG may establish links between this website and one or more websites operated by third parties. P&NG has no control over any such other websites, the contents therein or the products and/or services offered. The existence of any such links shall not constitute an endorsement of, or representation or warranty by P&NG regarding such websites, the contents of the websites, the products and/or services of the websites or the operators of the websites. Your access to and use of such linked websites is governed by the terms of use and privacy policies of those sites, and shall be at your own risk. P&NG disclaims responsibility for the privacy policies and customer information practices of third-party internet websites hyperlinked from our website. P&NG is not responsible for any third party content and information nor the accuracy, timeliness or suitability of the information that may be linked to this website, whether the link is provided by P&NG or by a third party.


Please review our Privacy Policy to learn about our information collection practices and the measures we take to help preserve the privacy and security of your information.

Your Privacy Is Important to P&NG

In the course of serving you as an individual client or as someone associated with a corporate or institutional client, P&NG may obtain personal information about you. Obtaining this information is important to our ability to deliver the highest level of service to you, but we also recognize that you expect us to treat this information appropriately.

This policy describes the types of personal information we may collect about you, the purposes for which we use the information, the circumstances in which we may share the information and the steps that we take to safeguard the information to protect your privacy. As used throughout this policy, the term “P&NG” refers to P&NG Capital, Inc. and its affiliates.

The Sources of Information

The personal information we collect about you comes primarily from the account applications or other forms and materials you submit to P&NG during the course of your relationship with us. We may also collect information about your transactions and experiences with P&NG relating to the products and services P&NG provides. In addition, depending on the products or services you require, P&NG may obtain additional information about you, such as your credit history, from consumer reporting agencies.
Finally, in the provision of financial services to you and subject to strict compliance with all applicable laws and regulations, information may be collected about you indirectly from monitoring or other means (e.g. recording of telephone calls and monitoring e-mails). In these circumstances, the information is not accessed on a continuous or routine basis, but it may be used for compliance or security purposes.

The Information We Have about You

If you deal with P&NG in your individual capacity (e.g. as a Limited Partner), or as a settlor/trustee/beneficiary of a trust, or as an owner or principal of a company or other investment vehicle established to invest on your behalf or on behalf of your family, etc., the typical information we collect about you would include:

  • Your name, address and other contact details;
  • Your age, occupation and marital status;
  • Extensive financial information, including source of wealth, investment experience and objectives, risk tolerance and, in certain jurisdictions, representations required under applicable law or regulation concerning your financial resources;
  • A head and shoulders photograph from, as applicable, your passport, national identity card or driver’s license, as required by laws and regulations addressing due diligence and related matters; and
  • A personal identifier such as, depending on your country of residence, your Social Security Number, National Insurance Number, Tax File Number, etc.

If you are an employee/officer/director/principal, etc. of one of our corporate or institutional clients, the typical information we collect about you personally would include:

  • Your name and contact details;
  • Your role/position/title and area of responsibility; and
  • Certain identifying information (e.g. passport photo, etc.) as required by laws and regulations addressing money laundering and related matters.

Of course, you are not required to supply any of the personal information that we may request. However, failure to do so may result in our being unable to open or maintain your account or to provide services to you. While we make every effort to ensure that all information we hold about you is accurate, complete and up to date, you can help us considerably in this regard by promptly notifying us if there are any changes to your personal information.

Our Use of Your Personal Information

We may use your personal information to:

  • Administer, operate, facilitate and manage your relationship with P&NG. This may include sharing such information internally as well as disclosing it to third parties, as described in the following two sections, respectively;
  • Contact you or, if applicable, your designated representative(s) by post, telephone, electronic mail, facsimile, etc., in connection with your relationship;
  • Provide you with information (such as investment research), recommendations, or advice concerning products and services offered by P&NG; and
  • Facilitate our internal business operations, including assessing and managing risk and fulfilling our legal and regulatory requirements.

If your relationship with P&NG ends, P&NG will continue to treat your personal information, to the extent we retain it, as described in this policy.

Disclosures of Your Personal Information within P&NG

In order to provide efficient and reliable services and to improve product and service options available to you, more than one entity within P&NG may be given, or given access to, your personal information. For example, one P&NG entity might share your information with another in order to facilitate settlement of your transactions, asset management and advisory and services. When so sharing your personal information, we adhere to applicable legal and industry standards regarding the protection of personal information.

Disclosures of Your Personal Information to Third Parties

P&NG does not disclose your personal information to third parties, except as described in this policy. Third party disclosures may include sharing such information with non-affiliated companies that perform support services for your account or facilitate your transactions with P&NG, including those that provide professional, legal or accounting advice to P&NG. Non-affiliated companies that assist P&NG in providing services to you are required to maintain the confidentiality of such information to the extent they receive it and to use your personal information only in the course of providing such services and only for the purposes that P&NG dictates.

We may also disclose your personal information to fulfill your instructions, to protect our rights and interests and those of our business partners or pursuant to your express consent. Finally, under limited circumstances, your personal information may be disclosed to third parties as permitted by, or to comply with, applicable laws and regulations; for instance, when responding to a subpoena or similar legal process, to protect against fraud and to otherwise cooperate with law enforcement or regulatory authorities or with organizations such as exchanges and clearinghouses.

P&NG will not sell your personal information.

This site is sponsored by P&NG. General enquiries about this website should be sent to


Copyright All material, articles, text, illustrations, graphics, images, photographs, information, audio or video clips, data, databases, maps, files, software and codes available on the Website (the “Content”), including the manner in which the Content is presented, are protected by Canadian and foreign law, including copyright law, and belong to P&NG Capital Ltd., its affiliates, licensors and/or the party acknowledged as the Content supplier.

You shall not: (i) copy, reproduce, modify, adapt, translate, download, distribute or transmit all or any part of the Content; (ii) perform “data scraping”, “database scraping” or any other activity intended to collect, store, reorganize or manipulate data from the Website or any part of the Content in any form and by any means; (iii) sell, lease, license or otherwise use the Content for commercial, public or non-personal purposes; (iv) modify, remove or cover any trade-mark or proprietary notice included in the Content; (v) decompile, disassemble, decrypt, extract or reverse engineer the Website and its components, including, in particular, the Content, or help anyone do so; or (vi) use the Website in any way that could damage, impair, overburden, disable, or otherwise affect the Website or any services, accounts, servers, networks, resources, linked or accessible through the Website.

Trade-marks Names, words, title, phrases, logos, drawings, graphics, icons and trademarks posted on the Website may constitute trademarks of P&NG Capital Ltd., its affiliates or of a third party. Nothing on the Website shall be construed as granting you any licence or right of use of any logo, drawing or trademark of P&NG Capital Ltd., its affiliates or a third party.