Investor Qualifications

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The Blacksmith Fund is an investment opportunity exclusively available to accredited investors as defined by the U.S. Securities and Exchange Commission (SEC) under Regulation D, Rule 506(c).

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Accredited Investor Criteria

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To qualify as an accredited investor, an individual or entity must meet one of the following criteria:

Individuals:

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• Have an annual income of at least $200,000 ($300,000 together with a spouse) in each of the last two years, and expect the same for the current year, OR

• Have a net worth exceeding $1 million, excluding the value of the primary residence.

• Entities:

• Banks, insurance companies, registered investment companies, business development companies, and small business investment companies.

• Employee benefit plans, charitable organizations, corporations, partnerships, and trusts with assets exceeding $5 million.

• Any entity in which all of the equity owners are accredited investors.

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Verification Process

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As part of the 506(c) offering, the Fund is required to take reasonable steps to verify that each investor meets the accredited investor criteria. This verification may involve the review of financial documents or other supporting materials.

By investing in the Blacksmith Fund, all investors confirm that they meet the accredited investor requirements and are eligible to participate in the Fund’s offerings.