Ontario Commission des P.O. Box 55, 19th Floor CP 55, 19e étage
Securities valeurs mobilières 20 Queen Street West 20, rue queen ouest
Commission de l’Ontario Toronto ON M5H 3S8 Toronto ON M5H 3S8
Web site: www.osc.gov.on.ca
VIA SEDAR
June 3rd, 2016
Borden Ladner Gervais LLP
Scotia Plaza, 40 King Street W
Toronto, ON
M5H 3Y4
Attention: Whitney Bell
Dear Ms. Bell:
Re: Sprott Gold Bullion Class and Sprott Silver Bullion Class (the “Funds”)
Exemptive Relief Application under Part 6 of National Instrument 81-101 Mutual Fund Prospectus Disclosure (NI 81-101)
Application No. 2016/0285; SEDAR Project No. 2474653
By letter dated May 30, 2016 (the Application), Sprott Asset Management LP, on behalf of the Funds, applied to the Director of the Ontario Securities Commission (the Director) under Part 6 of NI 81-101 for relief from Item 4 of Form 81-101F3 Contents of Fund Facts, in order to vary the prescribed disclosure under the heading “How risky is it?” and the sub-heading “Risk rating” in the fund facts document.
This letter confirms that, based on the information and representations made in the Application, and for the purposes described in the Application, the Director intends to grant the requested exemption to be evidenced by the issuance of a receipt for the Fund’s prospectus.
Yours very truly,
“Darren McKall”
Darren McKall
Manager, Investment Funds & Structured Products Branch
ONTARIO SECURITIES COMMISSION