Ontario Commission des 22^nd^ Floor 22e 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
July 25, 2022
Osler, Hoskin & Harcourt LLP
Attention: Shawn Cymbalisty
Re: Picton Mahoney Fortified Core Bond Fund (the Fund) and Picton Mahoney Asset Management (PMAM)
Preliminary Simplified Prospectus and Annual Information Form dated April 12, 2022
Exemptive Relief Application under Section 6.1 of National Instrument 81-101 Mutual Fund Prospectus Disclosure (NI 81-101)
Application No. 2022/0330; SEDAR Project No. 3367424
By letter dated July 6, 2022 (the Application), PMAM, the investment fund manager of the Fund, applied to the Director of the Ontario Securities Commission (the Director) under section 6.1 of NI 81-101 for relief from the operation of subsection 2.1(2) of NI 81-101, which prohibits an issuer from filing a prospectus more than 90 days after the date of the receipt for the preliminary 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 prospectus, subject to the condition that the prospectus be filed no later than November 9, 2022.
Yours very truly,
“Darren McKall”
Darren McKall
Manager, Investment Funds and Structured Products Branch
Ontario Securities Commission
App. No. 2022/0330