Ontario Securities Commission

The applicant applied for exemptive relief from subsection 5.1(a) of National Instrument 81-105 to permit it to pay participating dealers for direct costs related to cooperative marketing initiatives whose primary purpose is to provide educational information concerning financial planning matters.

The principal regulator granted the exemption, subject to conditions including that the applicant does not require dealers to sell its funds, the materials contain only general educational information, and the information includes a disclaimer that it is for information purposes only.

The Filer, LifeWorks Inc., applied to the Ontario Securities Commission for an order to cease being a reporting issuer in all jurisdictions of Canada where it is 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 found that the test under the securities legislation was met and granted the order.

The Filer, SEI Investments Canada Company, applied on behalf of the Long Duration Credit Bond Fund for an order declaring that the Fund has ceased to be a reporting issuer in all applicable Canadian jurisdictions.

The Ontario Securities Commission, acting as the principal regulator, granted the order.

The decision noted that the Fund's outstanding securities are beneficially owned by fewer than 15 securityholders in each Canadian jurisdiction and fewer than 51 worldwide, and are not traded on any marketplace.

The Filer applied for exemptive relief on behalf of Mulvihill Premium Yield Fund and future funds to be exempt from filing a long form prospectus for ETF Securities, provided they file a simplified prospectus and an ETF facts document.

The Filer also sought relief to treat ETF Securities and Mutual Fund Securities as separate funds for compliance with Parts 9, 10, and 14 of NI 81-102.

The Ontario Securities Commission granted the requested relief, subject to conditions.

The Filer, Verde AgriTech Plc, 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 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 was satisfied that the test under the legislation was met and granted the order.

Choice Consolidation Corp. applied to the Ontario Securities Commission for an order declaring 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 51 securityholders worldwide and 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 applied for exemptive relief to extend the lapse date of the simplified prospectus for its Purpose Bitcoin ETF and Purpose Ether ETF from October 1, 2022, to November 19, 2022.

The extension was requested to align the renewal of the Funds' prospectus with that of other funds managed by the Filer, thereby reducing renewal, printing, and related costs.

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

The Filer, Invesco Canada Ltd., applied to the Ontario Securities Commission for exemptive relief from subsection 5.1(4) of National Instrument 81-101.

The Filer sought permission to consolidate the simplified prospectus for its alternative mutual funds with the simplified prospectus for its conventional mutual funds.

The principal regulator granted the requested exemption, noting that consolidating the prospectuses would reduce costs and allow investors to more easily compare the features of the funds.

The applicant, Guardian Capital LP, applied on behalf of two mutual funds for exemptive relief from certain provisions of National Instrument 81-102, National Instrument 81-101, and National Instrument 41-101.

The relief sought to permit a redemption price less than the net asset value for a specific trust, and to allow the inclusion of fund-specific disclosure not specifically required or permitted in the fund facts and ETF facts documents.

The Ontario Securities Commission granted the requested relief, subject to specific disclosure requirements regarding the redemption price calculation.

The applicant, Knowledge First Financial Inc., applied on behalf of Heritage Plans for an order under Ontario securities legislation declaring that the Plan has ceased to be a reporting issuer in all applicable Canadian jurisdictions.

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

The requested order was granted.

The Filer, a special purpose acquisition corporation, applied for exemptive relief from the prospectus eligibility requirements under NI 41-101 and the withdrawal of prospectus exemptions under OSC Rule 56-501 in connection with a Qualifying Transaction and Share Exchange.

The Ontario Securities Commission granted the requested relief, permitting the future distribution of Subordinate Voting Shares and Proportionate Voting Shares without the application of the restricted securities rules, subject to certain conditions.

The Filer applied on behalf of two exchange-traded alternative mutual funds for exemptive relief from the concentration restriction in subsection 2.1(1.1) of National Instrument 81-102.

The relief was sought to permit the funds to obtain exposure to the constituent banks of the Solactive Equal Weight Canada Banks Index in accordance with their investment objectives, which involve daily leverage resets.

The Ontario Securities Commission granted the requested exemption, subject to conditions regarding prospectus disclosure and investment strategies.

The Filer applied for exemptive relief to extend the lapse date of the prospectus for two mutual funds to September 29, 2022.

Due to an administrative error, the funds were not included in a prior application for relief, causing their prospectus to lapse.

The principal regulator granted the exemption, subject to conditions including providing a cancellation right to securityholders who purchased securities during the interim period.

The Filer, Mangazeya Mining Ltd., 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 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.

Interactive Brokers Canada Inc. applied for an exemption from the prospectus requirement for the distribution of over-the-counter foreign exchange contracts to investors in Ontario and other jurisdictions.

The Ontario Securities Commission granted the requested relief, subject to conditions including that the filer remains registered as an investment dealer, complies with IIROC rules, and provides clients with a clear risk disclosure document prior to their first transaction.

Medifocus Inc. applied to the Ontario Securities Commission for a partial revocation of a failure-to-file cease trade order issued in 2020.

The issuer had become insolvent and was undergoing a reorganization transaction under the Companies' Creditors Arrangement Act, which included a reverse vesting order.

The Commission granted the partial revocation order solely to permit trades necessary to complete the reorganization transaction, subject to conditions including notice to the subscriber.

The Filer, FAX Capital Corp., 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 granted the order, finding that the Filer met the test set out in the legislation.

The Filer, Merrill Lynch Financial Assets 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 in Canada or elsewhere.

The principal regulator found that the application met the legislative test and granted the order.

The applicant, Canada Life Investment Management Ltd., applied for exemptive relief from the concentration restriction in subsection 2.1(1) of National Instrument 81-102 Investment Funds on behalf of several mutual funds.

The relief sought to permit the funds to invest up to 20% or 35% of their net assets in highly rated evidences of indebtedness issued or guaranteed by foreign governments or supranational agencies.

The Ontario Securities Commission granted the requested relief, subject to conditions including that the purchases are consistent with the funds' fundamental investment objectives and that the funds' prospectuses disclose the associated risks and the nature of the relief.

Picton Mahoney Asset Management applied for exemptive relief under section 6.1 of National Instrument 81-101 on behalf of the Picton Mahoney Fortified Core Bond Fund.

The applicant sought relief from subsection 2.1(2), which prohibits filing a prospectus more than 90 days after the receipt for the preliminary prospectus.

The Ontario Securities Commission granted the requested exemption, subject to the condition that the prospectus be filed no later than November 9, 2022.