OSC 2018

The applicants, Redwood Asset Management Inc. and Ninepoint Partners LP, sought approval for a change of manager of the UIT Alternative Health Fund from Redwood to Ninepoint under section 5.5(1)(a) of National Instrument 81-102.

The Ontario Securities Commission, acting as principal regulator, granted the approval, finding that the change of manager was not detrimental to unitholders or the public interest and would be subject to unitholder approval at a special meeting.

The Filer, Schooner Trust, applied to the Ontario Securities Commission for an order to cease being a reporting issuer in all applicable Canadian jurisdictions.

The principal regulator found that the Filer met the necessary requirements, including having fewer than 15 securityholders in each Canadian jurisdiction and fewer than 51 worldwide, with no securities traded on any marketplace.

The application was granted.

The Filer, Canadian Arrow Mines Limited, applied to the Ontario Securities Commission for an order to cease being a reporting issuer in all applicable Canadian jurisdictions.

The principal regulator found that the Filer met the necessary requirements, including having fewer than 15 securityholders in each Canadian jurisdiction and fewer than 51 worldwide, and not being in default of securities legislation.

The order was granted.

The Manager applied for exemptive relief to merge two terminating mutual funds into two continuing mutual funds under paragraph 5.5(1)(b) of NI 81-102.

The mergers did not meet all pre-approval criteria because the fundamental investment objectives were not substantially similar.

The principal regulator granted the approval, finding that the mergers would benefit securityholders through better performance, lower fees, and a more effective strategic mandate.

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

The order was granted.

MedReleaf Corp. applied to the Ontario Securities Commission for exemptive relief under section 140(2) of the Securities Act to keep a previously filed Management's Discussion and Analysis confidential.

The filed document contained information subject to a confidentiality agreement with a third party who refused consent for disclosure.

The Commission granted the requested relief, ordering that the document be held in confidence and that the application itself remain confidential for three years.

The Filer applied for exemptive relief from the requirement under Part 8 of National Instrument 51-102 to file a business acquisition report in connection with its acquisition of TerraForm Global Inc. The Filer argued that while the acquisition triggered the profit or loss significance test, it did not trigger the asset or investment tests, and the profit or loss test produced an anomalous result that exaggerated the significance of the transaction.

The Ontario Securities Commission granted the requested relief.

The Filer applied for exemptive relief under section 19.1 of National Instrument 41-101 to extend the 90-day deadline for filing a final prospectus after the receipt of a preliminary prospectus.

The Director granted the requested exemption, permitting the final prospectus to be filed by June 1, 2018.

The Filer applied for exemptive relief from paragraphs 15.3(4)(c) and (f) of National Instrument 81-102 to permit its mutual funds to reference FundGrade A+ Awards and FundGrade Ratings in sales communications.

The principal regulator granted the exemption, subject to conditions requiring specified disclosure and that the referenced awards not be older than 365 days.

The Filer applied to the Ontario Securities Commission for an order to cease to be a reporting issuer in all jurisdictions of Canada where it is a reporting issuer.

The principal regulator found that the Filer met the requirements, including having fewer than 15 securityholders in each Canadian jurisdiction and fewer than 51 worldwide, and granted the order.

The Filer applied for exemptive relief on behalf of proposed exchange-traded mutual funds.

The requested relief sought exemptions from the requirement to include an underwriter's certificate in the prospectus and from the take-over bid requirements for normal course purchases of securities on the TSX.

The Ontario Securities Commission granted the requested exemptions, subject to conditions regarding the delivery of ETF Facts documents.

The Filer applied for an exemption from the requirement under National Instrument 81-106 to send an information circular to each registered holder of securities of a Fund whose proxy is solicited.

The Filer sought to use a Notice-and-Access Document instead.

The Ontario Securities Commission granted the exemption, subject to conditions including sending an explanatory document in lieu of the printed information circular and giving securityholders the option to request and obtain a printed information circular at no charge.

The Filers applied to the Ontario Securities Commission for an exemption from the prospectus requirement for the distribution of contracts for difference (CFDs) and over-the-counter foreign exchange contracts to investors in applicable Canadian jurisdictions.

The Commission granted the requested relief, subject to several conditions, including that all CFD trades be executed through the Canadian affiliate, compliance with IIROC rules, and the provision of a risk disclosure document to clients prior to their first transaction.

Franklin Templeton Investments Corp. applied for exemptive relief to extend the lapse date of the simplified prospectus for three of its mutual funds from April 18, 2018, to June 6, 2018.

The extension was requested to consolidate the renewal of these funds' prospectus with the prospectus of 73 other funds managed by the applicant, thereby reducing costs and administrative burden.

The Ontario Securities Commission granted the requested relief, finding it would not be prejudicial to the public interest.

The Filer applied to the Ontario Securities Commission for an order declaring that it has ceased to be a reporting issuer in all applicable Canadian jurisdictions.

The principal regulator found that the Filer met the necessary criteria, including having fewer than 15 securityholders in each Canadian jurisdiction and fewer than 51 worldwide, and not being in default of securities legislation.

The order was granted.

The applicant, Dream Industrial LP, 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 found that the applicant met the requirements, including having fewer than 15 securityholders in each jurisdiction and no securities traded on a marketplace.

The order was granted.

Equity Financial Holdings Inc. applied to the Ontario Securities Commission for an order to cease to be a reporting issuer.

Following a plan of arrangement, the company's shares were acquired by Smoothwater Capital Corporation and delisted from the TSX.

The company has fewer than 51 securityholders worldwide and its securities are subject to private company transfer restrictions.

The Commission granted the order, satisfied that the statutory test was met.

BBS Securities Inc. applied for an exemption from the prospectus requirement to distribute contracts for difference (CFDs) and other over-the-counter (OTC) derivative contracts to investors.

The Filer is an IIROC-registered investment dealer subject to strict regulatory requirements regarding margin and risk disclosure.

The Ontario Securities Commission granted the requested relief, subject to conditions including compliance with IIROC rules and the provision of a comprehensive risk disclosure document to clients.

Claregold Trust applied to the Ontario Securities Commission for an order declaring that it has ceased to be a reporting issuer in all applicable Canadian jurisdictions.

The Filer demonstrated 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 found that the statutory test was met and granted the requested order.

The Filer, Kirkland Lake Gold 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 principal regulator found that the Filer met the requirements, including having fewer than 15 securityholders in each Canadian jurisdiction and fewer than 51 worldwide, and granted the order.