The Filer, a special purpose acquisition corporation, applied for exemptive relief from various restricted security rules under National Instrument 41-101, OSC Rule 56-501, and National Instrument 51-102.
The relief was sought in connection with a proposed qualifying transaction where the Filer would issue proportionate voting shares carrying multiple votes per share, which would technically render the common shares 'restricted securities'.
The Ontario Securities Commission granted the requested exemptions, permitting the Filer to refer to its common shares without restricted security terminology and exempting it from related disclosure and eligibility requirements, subject to certain conditions.