T. Moseley

The Filer, Niagara Capital Partners Ltd., applied for exemptive relief from the investment fund self-dealing restrictions under the Securities Act.

The relief was sought to allow the Top Funds to invest in the Underlying Funds, which are under common management, creating a fund-on-fund structure.

The Ontario Securities Commission granted the requested relief, subject to several conditions including that the Top Funds distribute securities solely pursuant to prospectus exemptions and that no duplicative management or incentive fees are charged.

Cline Mining Corporation applied for a decision under the securities legislation of multiple jurisdictions that it is no longer a reporting issuer.

Following a court-supervised recapitalization plan under the Companies' Creditors Arrangement Act, the filer's outstanding securities are beneficially owned by fewer than 15 security holders in each jurisdiction and fewer than 51 worldwide.

The filer's shares were delisted and it has no intention to access public capital markets.

The Ontario Securities Commission, acting as principal regulator, granted the exemptive relief sought.