Ontario Securities Commission

The applicant, Invesco Canada Ltd., applied on behalf of the Invesco Balanced-Risk Allocation Pool for exemptive relief from certain margin, leverage, and concentration restrictions under National Instrument 81-102.

The relief was sought to permit the fund to deposit up to 35% of its NAV as margin with a single dealer, use a value-at-risk (VaR) approach for leverage limits, and invest up to 35% of its NAV in highly rated foreign government securities.

The principal regulator granted the requested exemptions, subject to specific conditions including the implementation of a derivatives risk management program and compliance with an absolute VaR test.

S Split Corp. applied to the Ontario Securities Commission for an order declaring that it has ceased to be a reporting issuer in all Canadian jurisdictions where it is a reporting issuer.

The applicant 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 was satisfied that the statutory test was met and granted the order.

The applicant applied for exemptive relief to extend the lapse date of the simplified prospectus for two mutual funds from February 16, 2025, to May 21, 2025.

The extension was sought to consolidate the renewal of the funds' prospectus with the simplified prospectus of other funds managed by the applicant, thereby reducing costs and streamlining disclosure.

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

The Filer, Place Montfort Apartment Project, 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 Canadian jurisdiction and fewer than 51 worldwide, and its securities are not traded on any marketplace.

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

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

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 was satisfied that the statutory test was met and granted the order.

The applicant, Primo Water Corporation, applied to the Ontario Securities Commission for an order to cease to be a reporting issuer in all jurisdictions of Canada.

The Commission found that the applicant met the requirements, including having fewer than 15 securityholders in each Canadian jurisdiction and fewer than 51 worldwide, with no securities traded on a marketplace.

The order was granted.

Armada Data Corporation applied to the Ontario Securities Commission for an order to cease to be a reporting issuer following an amalgamation.

Although the Filer was in default of filing its interim financial statements due after the amalgamation, it otherwise met the criteria for the simplified procedure.

The Commission granted the order, determining that the Filer met the test under the legislation to cease being a reporting issuer.

The filer, Arrow Capital Management Inc., applied for exemptive relief under the Securities Act to extend the lapse date of the simplified prospectus for the Arrow EC Equity Advantage Alternative Fund from December 31, 2024, to June 7, 2025.

The extension was requested to align the fund's prospectus renewal with other mutual funds managed by the filer, thereby reducing costs and allowing investors to compare fund features more easily.

The Ontario Securities Commission granted the requested relief, finding it would not prejudice the public interest or unitholders.

The Filer, Lipari Diamond Mines Ltd., applied for exemptive relief from the requirements of National Instrument 51-102 and Form 51-102F3 to file all financial statements of its subsidiary, Mineração Montes Claros Ltda., in connection with a reverse takeover transaction with Golden Share Resources Corporation.

The principal regulator granted the requested relief, provided that the listing statement includes the specified financial statements and management's discussion and analysis of the Filer, and is filed on SEDAR+ following acceptance by CBOE Canada Inc.

The Filer applied for exemptive relief to extend the lapse date of the simplified prospectus for the Ninepoint Capital Appreciation Fund from February 2, 2025, to May 10, 2025.

The extension was sought to align the Fund's prospectus renewal with the renewal of other mutual funds managed by the Filer, thereby reducing costs and streamlining disclosure.

The principal regulator granted the requested relief, noting that there had been no material changes to the Fund and that the extension would not prejudice the public interest.

The applicant, Russell Investments Canada Limited, applied for exemptive relief on behalf of certain investment funds (the Top Funds) from the prohibitions in paragraphs 2.5(2)(a), (b), and (c) of National Instrument 81-102.

The relief sought would permit the Top Funds to invest in certain underlying funds that are not subject to NI 81-102, which in turn may hold more than 10% of their net asset value in other investment funds.

The Ontario Securities Commission granted the requested relief, subject to several conditions including independent valuation, independent review committee approval, and compliance with other requirements of section 2.5 of NI 81-102.

The applicant, Global Growth Assets Inc., applied for exemptive relief from paragraphs 15.3(4)(c) and 15.3(4)(f) of National Instrument 81-102 Investment Funds.

The relief sought was to permit the applicant's mutual funds to reference FundGrade A+ Awards and FundGrade Ratings in their sales communications.

The principal regulator granted the exemption, subject to specific disclosure requirements and conditions regarding the timing and calculation of the referenced awards and ratings.

The Filer, Givex Corp., 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 Canadian jurisdiction and fewer than 51 worldwide, and that its securities are not traded on any marketplace.

The principal regulator, satisfied that the statutory tests were met, granted the order.

Stelco Inc. applied to the Ontario Securities Commission for an order to cease being a reporting issuer in all jurisdictions of Canada where it is currently a reporting issuer.

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 was satisfied that the test under the securities legislation was met and granted the order.

The Filer, Granite REIT Holdings Limited Partnership, applied to the Ontario Securities Commission for exemptive relief from various continuous disclosure, certification, audit committee, corporate governance, insider reporting, and short form/shelf prospectus eligibility requirements.

The relief was sought following a reorganization that unstapled the units of Granite REIT and the shares of Granite GP.

The Commission granted the requested relief for a transitional period, subject to conditions including compliance with a prior relief decision granted to Granite REIT.

The applicant, Canada Life Investment Management Ltd., applied for exemptive relief from the margin restrictions in subsections 6.8(1) and 6.8(2)(c) of National Instrument 81-102.

The relief sought to permit the alternative mutual funds managed by the applicant to deposit up to 35% of their net asset value as margin with a single dealer, and up to 70% in aggregate across all dealers, for transactions involving exchange-traded specified derivatives.

The Ontario Securities Commission granted the requested relief, finding it would allow the funds to pursue their investment strategies more efficiently and flexibly without prejudicing the public interest.

The applicant, CI Investments Inc., applied for exemptive relief on behalf of several mutual funds and ETFs.

The requested relief included extending the lapse dates for various prospectuses to align with other affiliated funds, permitting the consolidation of simplified prospectuses for alternative and conventional mutual funds, allowing ETFs to use a simplified prospectus form instead of a long form prospectus, and treating ETF and mutual fund securities as separate funds for compliance with certain investment fund rules.

The Ontario Securities Commission granted the requested exemptions subject to specified conditions.

The applicant, EHP Funds Inc., applied on behalf of EHP Global Multi-Strategy Alternative Fund for exemptive relief from the multi-tier fund prohibition in paragraph 2.5(2)(b) of National Instrument 81-102.

The relief was sought to permit the top fund to invest in underlying alternative mutual funds that in turn invest more than 10% of their net asset value in third-tier investment funds.

The Ontario Securities Commission granted the exemption, subject to conditions including no duplication of fees, fair allocation of transaction costs, and specific continuous disclosure requirements.

The applicant, an investment fund manager, applied for exemptive relief on behalf of a top fund from the annual and interim financial statement filing and delivery deadlines under National Instrument 81-106.

The top fund invests in a master fund, which in turn invests in underlying funds, causing unavoidable delays in obtaining the necessary financial information to prepare its own statements.

The Ontario Securities Commission granted the requested relief, extending the annual deadline to 180 days and the interim deadline to 120 days, subject to certain conditions including investor notification.

The Filer applied for exemptive relief on behalf of its mutual funds to permit them to invest up to 10% of their net asset value in securities of certain U.S. investment companies (Underlying Funds) that are not subject to NI 81-102 and are not reporting issuers in Canada.

The principal regulator granted the relief, subject to conditions including that the investments align with the funds' objectives and that the Underlying Funds are subject to the U.S. Investment Company Act.