Testimonial

“I have conducted business with Daryl Hillman since 1978, and have been involved as a partner for nearly a decade. In all that time, I have appreciated his motivation in identifying, valuing and negotiating to acquire investment properties. He has studied and continues to upgrade both his financial and management abilities which compliment his people skills that are the cornerstone of long term real estate practices. When investment horizons are measured in decades rather than days, months or even years; it is important that all parties find comfort in these types of business relationships – that is exactly what Daryl brings to the table – every time. His high ethical and moral conduct round out a very trustworthy character.”

Randy Preece AACI, P APP (Ret), FRI, President, Preece Industries Ltd.

Testimonial

“I have found that investing in real estate projects with Daryl Hillman has consistently provided me with very good returns secured by real estate and with the added benefit of capital growth. It has helped secure the retirement which for me is quickly approaching. Thank You.”

– Craig T

Testimonial

“It’s a jungle out there, and many firms and individuals are eager to separate us from our hard-earned money. Very few of us are experta at researching investment opportunities, yet we are all looking for that better-than-average return on our investment. Many legitimate firms can provide us with secure investment opportunities, but many of those cannot provide the returns we hope to achieve. A cautious path is the best to choose when looking into any new investment opportunity. Using a very cautious approach I invested in two Sundance properties in 2006 and 2007. From the outset these properties outperformed 90% of my other investments, including other real estate – orientated projects. These projects are long term investments, suited to individuals who wish to find a secure nest for their capital and then get on with other activities of life. Think of these as you would blue-chip, dividend-paying stock investments; they are a means of enhancing your retirment and providing a nest egg for you and your family. I believe Daryl Hillman and the team are a rare combination of integrity with solid in-depth intelligence of real esate market and investment opportunities. I would readily recommend investing in their projects. “

– Roger Taylor, Kodybear Enterprises Inc. 

President

DIRECTOR SINCE 2012

Daryl R. Hillman, CCIM, SEC

President and author of the ‘Cash Flow Solution’, Daryl Hillman possesses over 35 years of experience in the real estate industry as an investor and acquisition specialist. Daryl is well known in the community for his integrity, creativity and strong relationships. Clients, business associates and investors have been working with Daryl for the duration of his career. Daryl enjoys creating opportunity and allowing for those around him to benefit from his knowledge and acquisition expertise. The success Daryl has been a part of in the past is what he strives to create for the future of Legacy Communities.

Vice President

DIRECTOR SINCE 2016

Denise Lester

With a career in property management and real estate spanning two decades, Denise bought Sundance Realty & Management Inc, in 2009. As the broker/owner, she built Sundance Realty into a successful real estate company, specializing in commercial property management. In 2019 Legacy purchased the company to ensure the control of the management of their properties, with a proven, cutting edge management system. This allowed Denise the ability to embrace her new role as Vice-President. Denise continues to oversee Sundance Realty as the managing broker. Alongside Daryl, Denise works on each acquisition while overseeing all operations of Legacy Communities. The strength and skills added to Legacy as a result of Denise’s unique knowledge makes her an invaluable asset to the company.

Vice President

BUSINESS DEVELOPMENT & CLIENT RELATIONS – DIRECTOR SINCE 2018

Kristi Howard Fisher

Born and raised on a farm in Alberta, Kristi has deep roots in hard work and commitment in all she puts her hands to. Much knowledge and experience has been gained in the business world; specifically in finance, investing, marketing, consulting and compliance. Kristi has held qualifications as a chief compliance officer, giving a special eye to detail regarding the private equity market. Kristi works directly with the transfer agent, trust companies, legal teams and the Sundance Management team. This interaction allows for her to handle client inquiries, and content creation including; all marketing material, investment documentation, and web design. Administrative operations are also orchestrated by Kristi. She is a tremendous addition to the team.

PEARL ROSE CONSTRUCTION – DIRECTOR SINCE 2016

Bert Eggink, BSC, CAD

Since 2007, Bert Eggink has been President and Owner of Pearl Rose Construction Ltd (PRC). Bert delivers prime-contracting services to central Alberta from design to completion, and everything in between including: construction management, integrated project-delivery and public/private partnerships. PRC’s projects span from under $1k to over $13mm specializing in the commercial, retail, multi-family, health-care, education, community provincial/municipal, and infrastructure sectors. With 15 years of consulting and management experience, Bert’s passion to find opportunity through creative thinking and problem solving has been prevalent. Bert’s ability to think outside the box and see connections where others would not has added tremendous value to Legacy’s Board of Directors.

BUSINESSMAN, VYEFIELD ENTERPRISES – DIRECTOR SINCE 2012

Hessel Kielstra

Hessel Kielstra carries a strong reputation and offers a wide range of expertise and experience
in the business community. Vyefield Enterprises is a multi-faceted private company owned and managed by the Kielstra family. Vyefield’s corporate head office is located in Calgary Alberta and since the age of 18 Hessel has run the family business. Mr. Kielstra carries some experience in the field of development and is the President of several private companies. Currently, Hessel is the vice chair of Dordt College in Iowa which has about 1400 students – this is one of many boards Mr. Kielstra has been on. Legacy believes the qualifications and experience held by Mr. Kielstra to be a vital part of the decision-making process and success that Legacy strives to achieve for all parties, clients and directors involved.

TALENT ACQUISITION MANAGEMENT LLC – DIRECTOR SINCE 2012

Don Stewart

Don is an expert when it comes to connecting people with opportunity. For the last 17 years, Mr. Stewart’s company has brought people together where opportunity matches interest. Searching out talent, funds, products, services, angel investors, advisors or venture capitalists are among some of the synergies Talent Acquisition Management LLC creates. Alberta has been home for the majority of Don’s life with the exception of post secondary education in the USA resulting in a Bachelor and Master’s Degree in Physical Education and Community Development. Through Don’s life long career in education, sales, marketing, training & recruitment great value and wisdom is added to Legacy.

Partners – Affiliates – Advisors

Computershare

Computershare

Transfer Agent & Registrar

Computershare is a world leader in financial administration. It has a large global footprint, as it is located in 20 countries providing it with the scale to maintain robust compliance, audit, risk, and business-continuity planning. Founded in 1978, Computershare is renowned for its expertise in high-integrity data management, high-volume transaction processing & reconciliations, payments, and stakeholder engagement. Computershare is currently the registrar for Legacy Communities common shares. They also handle all treasury issuance requests for the company. Self-directed accounts such as RRSP’s and TFSA’s are provided to clients through Computershare so they can invest with registered funds.

RSM Canada LLP

RSM Canada LLP

Auditor & Accounting Firm

RSM Canada LLP is the Canadian member firm of RSM International, a global network of independent audit, tax and consulting firms with more than 41,000 people in over 120 countries. RSM Canada provides Legacy with audit and assurance services through the rigorous policies and quality control systems that meet professional standards and applicable laws and regulations resulting in an efficient and meaningful audit. Legacy Communities provides financial accountability and transparency through the services provided by RSM.
Sundance Realty

Sundance Realty

Property Management

Sundance Realty believes the first step to successful investment management is putting the interests of clients before its own.  With over 30 years of experience in buying, selling, joint venturing, syndicating, and asset management in commercial real estate, Legacy can be sure of the quality of the expertise provided. Sundance is heavily involved in the acquisition and due- diligence process, providing cutting-edge knowledge to better manage the properties in Legacy’s portfolio. Legacy has a long-standing relationship with Sundance. All of the current properties held in the Legacy portfolio are managed by Sundance Realty.
Sully Chapman Beattie, LLP

Sully Chapman Beattie, LLP

T. Kent Chapman, Real Estate Lawyer

Sully Chapman Beattie LLP is a boutique law firm specializing in areas of law commonly associated with that of a Solicitor. Legacy Communities seeks the advice of T. Kent Chapman who possesses many years of experience in corporate law, commercial law, real estate, commercial leasing, wills and estate planning and estate administration. Mr. Chapman specifically handles conveyancing and joint ventures for Legacy Communities. Kent was born in raised in Red Deer, Alberta and is well known in the community, as he is a charter member of the Piper Creek Optimist Club, which is dedicated to serving the youth.

“I believe we can accomplish what has previously taken 30 years and achieve that within the next 3-5 years. This is my calling, to provide opportunity for others that would have only been a dream for me so long ago.”

– Daryl R. Hillman

**The ‘History Portofolio’ has many examples of the past success that Daryl Hillman has had inside of the Commercial Real Estate Industry. These properties are held outside of the Legacy Portfolio.**

CONTACT US, WE ARE HERE TO HELP!

Give us a call, Send us and Email or come into our office for a Coffee and Visit.

The Legacy team is here to provide you with Information, Education & Opportunity.

We Look Forward to Hearing From you!

Legacy Communities Inc. Head Office: #5 - 5215 49th Avenue, Innisfail, Alberta T4G 1B3

Head Office

LEGACY DISCLAIMER

TERMS OF USE AGREEMENT (“AGREEMENT”)

The following describes the terms under which you may access and use the website (“Website”) of Legacy Communities Inc. (“Legacy”) and any information posted on the Website.

By accessing the Website, you are agreeing to be bound by the terms of this Agreement, which may be updated by Legacy from time to time without notice to you. If you do not agree with the terms and conditions set out in this Agreement you may not access or use the Website or any information or materials contained therein. It is your responsibility to check for such changes, and to stop using the Website if you do not agree with any such change.

LIMITED LICENSE

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PROPRIETARY RIGHTS

The materials and all of the information found on the Website (“Collateral”) are protected under the laws of the Canada, United States of America, and of other countries. Certain words, phrases, graphics, designs or logos used on the Website and Collateral may constitute trademarks, service marks or trade-names of Legacy or of other entities.

DISCLAIMER OF WARRANTIES

The Website & Collateral is provided “as is” and “as available” and is used by you at your sole risk. Legacy makes no express or implied warranties or representations whatsoever, including those implied by statute or law, and specifically disclaims the same including without limitation, any warranties or representations of merchantability or particular purpose or non-infringement. In addition, without limiting the foregoing, legacy does not represent or warrant that the Website or Collateral will meet your requirements or that their use will be uninterrupted or error free.

LINKS TO THIRD PARTY WEBSITES

Legacy does not control any third party website and is therefore not responsible for the content of any linked website or any link contained in a linked website. Linked websites, if any, are not part of the Website, and Legacy provides such links only as a convenience. The inclusion of any link does not imply endorsement, investigation or verification by Legacy of the linked website or any information contained therein.

GENERAL

Legacy is headquartered in Canada. By accessing the Website and Collateral, you acknowledge and agree that all matters relating to this Agreement and access to, or use of, the Website and Collateral, and the resolution of any dispute arising between the parties will be governed and construed in accordance with the laws of the Province of Alberta and the laws of Canada applicable therein (without reference to conflicts of laws principles) and the parties to any such dispute attorn to the jurisdiction of the courts in the Province of Alberta. Legacy’s failure to insist upon or enforce strict performance of any provision of this Agreement is not to be construed as a waiver of any provision or right. All references herein to Legacy are deemed to include any subsidiary, affiliate or successor of Legacy.

READER ADVISORY

The Website and Collateral contains “forward-looking information” within the meaning of Canadian securities legislation. Forward-looking information refers to information about Legacy’s business, capital, and operations that is prospective in nature, and includes future-oriented financial information about Legacy’s prospective financial performance and financial position. Legacy has made certain material assumptions about future economic conditions and Legacy’s future courses of action to develop the forward-looking information in the Website and Collateral. A variety of material risk factors could cause actual results to vary from the forward-looking information in the Website and Collateral. Legacy assumes no obligation to update or revise the forward-looking information in the Website and Collateral, unless it is required to do so under Canadian securities legislation.

NON-SOLICITATION

The information contained in the Website and Collateral does not purport to be all-inclusive or to contain all information that a prospective investor may require. Prospective investors are encouraged to conduct their own analysis and reviews of Legacy and of the information contained in the Website and Collateral. Without limitation, prospective investors should consider the advice of their financial, legal, accounting, tax and other advisors and such other factors they consider appropriate in investigating and analyzing Legacy. This Website and Collateral does not constitute or form part of any invitation, offer for sale or subscription or any solicitation for any offer to purchase or subscribe for any securities of Legacy nor will they or any part of them form the basis of or be relied upon in connection therewith or act as any inducement to enter into any contract or commitment with respect to such securities. The information contained herein was not prepared in connection with an offering of securities and in no way constitutes an offering memorandum for the purposes of applicable securities law. Further, the Website and Collateral is for informational purposes only and must not be used or relied upon for the purpose of making any investment decision or engaging in any investment activity. Neither Legacy nor any of its directors, officers, employees, agents or advisors make any representation or warranty in respect of the contents of the Website and Collateral or otherwise in relation to Legacy or any of its respective businesses. In particular, no representation or warranty, express or implied, is made as to the fairness, accuracy or completeness of the information or opinions contained herein, which have not been independently verified. No person will have any right of action (except in case of fraud) against Legacy or any other person in relation to the accuracy or completeness of the information contained in the Website and Collateral. The information contained in the Website and Collateral is provided as at the date hereof and is subject to amendment, revision and updating in any way without notice or liability to any party. Certain information contained herein has been prepared by third-party sources. The information provided herein has not been independently audited or verified, by Legacy. Legacy has used its best efforts to ensure the accuracy and completeness of the information presented.

EXEMPTION & SUITABILITY DISCLAIMER

The Corporation intends to distribute the Offered Shares to qualified purchasers. Subject to certain exceptions, Legacy is only available to accredited investors. In Canada, this website is directed only at persons that fit within the following exemptions from the prospectus requirement in securities legislation: (i) section 2.3 (Accredited investor) of National Instrument 45-106 Prospectus Exemptions (“NI 45-106”); (ii) section 73.3 (Exemption, accredited investor) of the Securities Act (Ontario); (iii) section 2.5 (Family, friends and business associates) of NI 45-106; (iv) section 2.6 (Family, friends and business associates – Saskatchewan) of NI 45-106; (v) section 2.6.1 (Family, friends and business associates – Ontario) of NI 45-106; and (vi) section 2.10 (Minimum amount investment) of NI 45-106. Any content to which material relates is available only to such persons and will be engaged in only with such persons. By viewing this website you represent and warrant that you are a person who falls within the above description of persons entitled to and receive this material and that you agree to be bound by the provisions of this disclaimer. No securities commission or similar regulatory authority has reviewed or passed on the merits of the securities of this website and all of its contents. Any activity to which the Website and Collateral relates is available only to such persons and will be engaged in only with such persons. By receiving the Website and Collateral you represent and warrant that you are a person who falls within the above description of persons entitled to so receive the Website and Collateral and that you agree to be bound by the provisions of this disclaimer.

FORWARD-LOOKING INFORMATION

The content and material in this website shared by Legacy Communities Inc. contains “forward-looking information” within the definition of Canadian Securities legislation. Forward – looking information generally means information about Legacy Communities Business, capital or history that is prospective in nature and included future – orientated financial information about legacy’s prospective financial performance or financial position. The forward – looking information in this material may cause actual results to vary due to certain material risk factors. These risk factors may surround the following but are not limited to: economic & market conditions, occupancy & tenancy risks, demographics, loan to value ratio’s, interest rate risks, market fluctuations and insufficient net equity raised. Legacy assumes no obligation to update or revise the forward-looking information on this website unless it is required to do so under Canadian securities legislation. Past results are no guarantee of future performance.

NON-GAAP FINANCIAL MEASURES

The content and material in this website contain non-GAAP financial measure is a numerical measure that adjusts the most directly comparable measure determined in accordance with GAAP. Such measures provide supplemental information regarding a company’s historical or future financial position, performance, cash flows, or liquidity. Legacy Communities shows specific historical and current returns that are based on the following calculations that are constructed with an APOD (Annual Property Operating Data) analysis. Cash on cash is defined as the CFBT (Cash Flow Before Taxes). The CFBT is derived from the Gross Operating income less expenses, debt service (if any) and structural reserve. In the event a dividend payment is to be declared to shareholders from the cash flow would be the CFBT and then from that would be operating expenses and tax costs deducted, the remainder is what would be paid to shareholders in the form of a dividend. Composite Return is the addition of CFBT and Principal pay down on the mortgage loan (if applicable) each year. The calculations do not consider appreciation within any calculations, as it is speculative in nature. Composite Return = Cash Flow + Equity Gained through principal pay down through retirement of the loan. Past results are not guarantee of future performance.

SASKATCHEWAN

Saskatchewan securities legislation provides that, if an offering memorandum or amendment to the offering memorandum is sent or delivered to a purchaser that contains a misrepresentation, a purchaser who purchases a security covered by the offering memorandum is deemed to have relied upon that misrepresentation, assuming it was a misrepresentation at the time of purchase, and has a right of action for rescission against the issuer or a selling security holder on whose behalf the distribution is made or has a right of action for damages against: (a) the issuer or a selling security holder on whose behalf the distribution is made; (b) every promoter and director of the issuer or the selling security holder, as the case may be, at the time the offering memorandum or any amendment to it was sent or delivered; (c) every person whose consent has been filed respecting the offering, but only with respect to reports, opinions or statements that have been made by them; (d) every person who or company that, in addition to the persons mentioned in (a) to (c) above, signed the offering memorandum or the amendment to the offering memorandum; and (e) every person who or company that sells securities on behalf of the issuer or selling security holder under the offering memorandum or amendment to the offering memorandum. Such rights of rescission and damages are subject to certain limitations including the following: (a) if the purchaser elects to exercise its right of rescission against the issuer or selling security holder, it will have no right of action for damages against that party; (b) in an action for damages, a defendant will not be liable for all or any portion of the damages that he, she or it proves do not represent the depreciation in value of the securities resulting from the misrepresentation relied on; (c) no person, other than the issuer or a selling security holder, will be liable for any part of the offering memorandum or any amendment to it not purporting to be made on the authority of an expert and not purporting to be a copy of, or an extract from, a report, opinion or statement of an expert, unless the person failed to conduct a reasonable investigation sufficient to provide reasonable grounds for a belief that there had been no misrepresentation or believed that there had been a misrepresentation; (d) in no case will the amount recoverable exceed the price at which the securities were offered; and (e) no person is liable in an action for rescission or damages if that person proves that the purchaser purchased the securities with knowledge of the misrepresentation. In addition, no person, other than the issuer or selling security holder, will be liable if the person proves, among other things, that: (a) the offering memorandum to it was sent or delivered without the person's or company's knowledge or consent and that, on becoming aware of it being sent or delivered, that person immediately gave reasonable general notice that it was so sent or delivered; or (b) with respect to any part of the offering memorandum purporting to be made on the authority of an expert, or purporting to be a copy of, or an extract from, a report, an opinion or a statement of an expert, that person had no reasonable grounds to believe and did not believe that there had been a misrepresentation, the part of the offering memorandum did not fairly represent the report, opinion or statement of the expert, or was not a fair copy of, or an extract from, the report, opinion or statement of the expert. Saskatchewan securities legislation also provides: (a) similar rights of action for damages and rescission in respect of a misrepresentation in advertising and sales literature disseminated in connection with an offering of securities; (b) that where an individual makes a verbal statement to a prospective purchaser that contains a misrepresentation relating to the security purchased and the verbal statement is made either before or contemporaneously with the purchase of the security, the purchaser is deemed to have relied on the misrepresentation, if it was a misrepresentation at the time of purchase, and has a right of action for damages against the individual who made the verbal statement; (c) a purchaser with the right to void the purchase agreement and to recover all money and other consideration paid by the purchaser for the securities if the securities are purchased from a vendor who is trading in Saskatchewan in contravention of Saskatchewan securities legislation; and (d) a right of action for rescission or damages to a purchaser of securities to whom an offering memorandum was not sent or delivered prior to or at the same time as the purchaser enters into an agreement to purchase the securities, as required by the Saskatchewan securities legislation. Saskatchewan securities legislation provides that no action will be commenced to enforce any of the foregoing rights more than: (a) in the case of an action for rescission, 180 days after the date of the transaction that gave rise to the cause of action; or (b) in the case of an action for damages, the earlier of (i) one year after the plaintiff first had knowledge of the facts giving rise to the cause of action, or (ii) six years after the date of the transaction that gave rise to the cause of action. Saskatchewan securities legislation also provides a purchaser who has received an amended offering memorandum delivered in accordance with such legislation has a right to withdraw from the agreement to purchase the securities by delivering a notice to the person who or company that is selling the securities, indicating the purchaser's intention not to be bound by the purchase agreement, provided such notice is delivered by the purchaser within two business days of receiving the amended offering memorandum.

ONTARIO

Ontario securities legislation provides that, if an offering memorandum contains a misrepresentation, then a purchaser (other than certain purchasers who purchase in reliance on the exemption from the prospectus requirement in section 73.3 of the Securities Act (Ontario) or a predecessor thereto) who purchases a security offered by the offering memorandum during the period of distribution has, without regard to whether the purchaser relied on the misrepresentation, the following rights: (a) the purchaser has a right of action for damages against the issuer and a selling security holder on whose behalf the distribution is made; and (b) in the case that the purchaser purchased the security from a person referred to in clause (a), the purchaser may elect to exercise a right of rescission against the person. If the purchaser exercises the right of rescission, then the purchaser ceases to have a right of action for damages against the person. The right of action will be exercisable by the purchaser only if the purchaser commences the action, in the case of any action for rescission, not more than 180 days after the date of the transaction that gave rise to the cause of action and in the case of any action, other than an action for rescission, before the earlier of (a) 180 days after the plaintiff first had knowledge of the facts giving rise to the cause of action, or (b) three years after the date of the transaction that gave rise to the cause of action. A defendant will not be liable for a misrepresentation if it proves that the purchaser purchased the securities with knowledge of the misrepresentation. In an action for damages, the defendant will not be liable for all or any portion of the damages that the defendant proves do not represent the depreciation in value of the securities as a result of the misrepresentation relied upon. In no case will the amount recoverable for the misrepresentation exceed the price at which the securities were offered.

NEW BRUNSWICK

New Brunswick securities legislation provides that a person who purchase securities that are offered for sale in reliance on certain exemptions from the prospectus requirement has with a statutory right of action against (a) the issuer and the selling security holder for damages, or (b) against the selling security holder, for rescission, in the event that any information relating to the offering of securities that was provided to the purchaser contains a misrepresentation. If an offering memorandum is delivered to a prospective purchaser of securities in connection with a trade that is made in reliance on certain exemptions from the prospectus requirement, and the offering memorandum contains a misrepresentation, then a prospective purchaser who purchases the securities is deemed to have relied on the misrepresentation and has, subject to certain limitations and defences, a statutory right of action (a) against the issuer and a selling security holder on whose behalf the distribution was made for damages, or (b) while still the owner of securities, against the seller of securities for rescission. If the purchaser elects to exercise the right of rescission, the purchaser will have no right of action for damages. The right of action will be exercisable by the purchaser only if the purchaser gives notice to the defendant, in the case of any action for rescission, not more than 180 days after the date of the transaction that gave rise to the cause of action, that the purchaser is exercising this right, and, in the case of any action for damages, before the earlier of one year after the plaintiff first had knowledge of the facts giving rise to the cause of action, or six years after the date of the transaction that gave rise to the cause of action. A defendant is not liable for a misrepresentation if it proves that the purchaser purchased the securities with knowledge of the misrepresentation. In an action for damages, the defendant will not be liable for all or any portion of the damages that the defendant proves do not represent the depreciation in value of the securities as a result of the misrepresentation relied upon. In no case will the amount recoverable for the misrepresentation exceed the price at which the securities were offered.

NOVA SCOTIA

Nova Scotia securities legislation provides that, if an offering memorandum, or any advertising or sales literature, contains a misrepresentation, then a purchaser of securities is deemed to have relied upon such misrepresentation, assuming it was a misrepresentation at the time of the purchase, and the purchaser has, subject to certain limitations and defences, (a) a statutory right of action for damages against the seller of such securities, the directors of the seller and the persons who signed the offering memorandum, or (b) while the purchaser is still the owner of the securities, the purchaser may elect to exercise a statutory right of rescission against the seller, in which case the purchaser will have no right of action for damages against the seller, the directors of the seller, or the persons who signed the offering memorandum. The rights described above are subject to certain limitations, including that (a) no action may be commenced to enforce the right of action for rescission or damages by a purchaser resident in Nova Scotia later than 120 days after the date payment was made for the securities (or after the date on which initial payment was made for the securities where payments subsequent to the initial payment are made pursuant to a contractual commitment assumed prior to, or concurrently with, the initial payment); (b) no person will be liable if it proves that the purchaser purchased the securities with knowledge of the misrepresentation; (c) in the case of an action for damages, no person will be liable for all or any portion of the damages that it proves do not represent the depreciation in value of the securities; and (d) in no case will the amount recoverable in any action exceed the price at which the securities were offered to the purchaser. The liability of the persons referred to above is joint and several with respect to the same cause of action. A defendant who is found liable to pay a sum in damages may recover a contribution, in whole or in part, from a person that is jointly and severally liable to make the same payment in the same cause of action unless, in all the circumstances of the case, the courts are satisfied that it would not be just and equitable.