Exemptive relief granted to ETFs from underwriter's certificate, prospectus form, and take-over bid requirements.
The Filer applied for exemptive relief on behalf of several proposed exchange-traded funds (ETFs) from the Underwriter's Certificate Requirement, the Prospectus Form Requirement, and the Take-Over Bid Requirements.
The Ontario Securities Commission granted the requested exemptions, subject to conditions including the filing and delivery of a Summary Document (and eventually an ETF Facts document) to purchasers, and the incorporation of the Summary Document by reference into the ETFs' prospectuses.
Order granted for foreign mining company to cease being a reporting issuer in Canada.
The Filer, a foreign mining company, applied to the Ontario Securities Commission for an order to cease being a reporting issuer in Canada.
The Filer had voluntarily delisted its shares from the Canadian Securities Exchange and demonstrated that Canadian residents beneficially owned less than 2% of its outstanding securities.
The Commission was satisfied that the statutory test was met and granted the requested order.