Leslie Byberg

The applicant, Canadian Medical Discoveries Fund Inc., applied for exemptive relief under National Instrument 81-102 to permit its merger with GrowthWorks Canadian Fund Ltd. The merger required approval because it did not meet all criteria for pre-approved reorganizations, including differences in investment objectives, the lack of a current simplified prospectus, and the transaction not being a tax-deferred qualifying exchange.

The principal regulator granted the requested approval, allowing the merger to proceed.

The filer, a Guernsey-based investment fund holding physical uranium assets, applied for exemptive relief from certain prospectus requirements under National Instrument 41-101.

Specifically, the filer sought relief to use International Financial Reporting Standards (IFRS) and International Standards on Auditing (ISA) instead of Canadian standards, and to use multiple foreign custodians for its uranium assets.

The Ontario Securities Commission granted the requested relief, provided the filer's storage consultant complies with the custodian requirements of NI 41-101.

The Filer, a Guernsey-incorporated investment fund holding physical uranium assets, applied for exemptive relief from certain requirements of National Instrument 81-106.

Specifically, the Filer sought to prepare its financial statements using IFRS, have them audited under ISA by a Channel Islands auditor, and calculate its net asset value monthly rather than weekly.

The Principal Regulator granted the relief, noting that the Filer's ordinary shares are not redeemable, uranium prices are published monthly, and the Filer is subject to comparable regulatory oversight in its home jurisdiction.