Ontario Commission des 20th Floor 20e 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
December 15 , 2016
AlphaPro Management Inc.
Attention: Greg Sainsbury
Dear Sir:
Re: AlpaPro Management Inc. (the Filer)
Preliminary Long Form Prospectus dated October 6, 2016
Horizons Absolute Return Global Currency ETF (the Fund)
Exemptive Relief Application under Part 19 of National Instrument 41-101 General Prospectus Requirements (NI 41-101)
Application No. 2016/0720; SEDAR Project Number 2539715
By letter dated December 5, 2016 (the Application), the Filer, as manager of the Fund, applied on behalf of the Fund to the Director of the Ontario Securities Commission (the Director) under section 19.1 of NI 41-101 for relief from the operation of subsection 2.3(1.1) of NI 41-101, which prohibits an issuer from filing a final prospectus more than 90 days after the date of the receipt for the preliminary prospectus which relates to the final prospectus.
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 final prospectus, subject to the condition that the final prospectus be filed by no later than February 12, 2017.
Yours very truly,
“Vera Nunes”
Vera Nunes
Manager, Investment Funds and
Structured Products Branch
ONTARIO SECURITIES COMMISSION