OSC 2018

The Filer, DIR Industrial Properties Inc., applied to the Ontario Securities Commission for an order to cease being a reporting issuer in all applicable Canadian jurisdictions.

The Filer represented that its outstanding securities are beneficially owned by fewer than 15 securityholders in each jurisdiction and fewer than 51 worldwide, and its securities are not traded on any marketplace.

The Principal Regulator granted the order, finding that the Filer met the test under the legislation.

Castle Resources Inc. applied to the Ontario Securities Commission for an order that it has ceased to be a reporting issuer in all jurisdictions of Canada.

The Filer represented that its outstanding securities are beneficially owned by fewer than 15 securityholders in each Canadian jurisdiction and fewer than 51 worldwide, and that its securities are not traded on any marketplace.

The principal regulator granted the order, finding that the test under the securities legislation was met.

Portage Biotech Inc. applied to the Ontario Securities Commission for an exemption from the prospectus requirement under section 53 of the Securities Act.

The applicant proposed to distribute shares of Biohaven Pharmaceutical Holding Company Ltd. to its Canadian shareholders by way of a dividend in specie.

The Commission granted the requested exemption, provided that the first trade in the acquired shares is deemed a distribution unless specific conditions under National Instrument 45-102 are met.

The Filer applied for exemptive relief under section 19.1 of National Instrument 41-101 from the requirement in subsection 2.3(1.1) to file a final prospectus within 90 days of the preliminary prospectus receipt.

The Director of the Ontario Securities Commission granted the requested exemption, subject to the condition that the final prospectus be filed by February 15, 2018.

The Filer, AuRico Metals Inc., applied to the Ontario Securities Commission for an order that it has ceased to be a reporting issuer in all jurisdictions of Canada in which it is a reporting issuer.

The principal regulator was satisfied that the Filer met the test set out in the legislation, as its outstanding securities are beneficially owned by fewer than 15 securityholders in each jurisdiction of Canada and fewer than 51 worldwide, and its securities are not traded on any marketplace.

The order was granted.

The applicant, a registered portfolio manager and exempt market dealer, applied for exemptive relief from the prohibitions in sections 13.5(2)(b)(ii) and 13.5(2)(b)(iii) of National Instrument 31-103.

The relief sought would permit in-specie subscriptions and redemptions by managed accounts in pooled funds managed by the applicant.

The Ontario Securities Commission granted the requested relief, subject to conditions including obtaining prior written consent from managed account clients and ensuring the transferred securities are acceptable to the portfolio manager and consistent with the investment objectives.