Ontario Securities Commission

The Filer, Timbercreek U.S. Multi-Residential Opportunity Fund #1, applied for an order to cease to be a reporting issuer in all jurisdictions of Canada where it is currently a reporting issuer.

The Filer has disposed of all portfolio assets, paid out a special distribution, and is in the process of winding up.

The Ontario Securities Commission granted the order, satisfied that the test under the legislation was met.

The Manager applied for exemptive relief under paragraph 5.5(1)(b) of National Instrument 81-102 to permit the merger of the Excel Blue Chip Equity Fund into the Excel Emerging Markets Balanced Fund.

Regulatory approval was required because the fundamental investment objectives of the funds were not substantially similar.

The Ontario Securities Commission granted the requested approval, finding that the merger would achieve a fair and reasonable result for unitholders.

Questrade Wealth Management Inc. applied for exemptive relief to approve the mergers of several of its exchange-traded funds into funds managed by WisdomTree Asset Management Canada, Inc., and to approve a change of manager for another fund to WisdomTree Canada.

The mergers did not meet all pre-approval criteria under NI 81-102 because the continuing funds had different investment objectives and fee structures, and some mergers were not tax-deferred.

The Ontario Securities Commission granted the requested approvals, subject to the condition that Questrade obtain prior approval from the securityholders of the affected funds.

The Filers applied to the Ontario Securities Commission for an exemption from the prospectus requirement in respect of the distribution of contracts for difference and other over-the-counter foreign exchange contracts to investors in Canada.

The Commission granted the requested relief, subject to conditions including that the Canadian Filer remain registered as an investment dealer, comply with IIROC rules, and provide clients with a comprehensive risk disclosure document prior to trading.

The Filer applied for exemptive relief on behalf of certain top funds to permit them to invest in underlying funds managed by the Filer, despite the investment restrictions in the legislation prohibiting an investment fund from knowingly making an investment in a person or company in which it is a substantial security holder.

The Ontario Securities Commission granted the requested relief, subject to conditions including that the investments are consistent with the top funds' objectives, effected at an objective price, and that there is no duplication of management or sales fees.

Invesco Canada Ltd. applied for exemptive relief from the requirement to deliver a Fund Facts document when automatically switching investors from a retail series to a lower-fee private investor series of the same mutual fund.

The Ontario Securities Commission granted the relief, subject to conditions requiring Invesco to provide advance notification to investors, update its prospectus and Fund Facts disclosure, and send annual reminder notices regarding the automatic switches and investors' rights.

The Manager applied to the Ontario Securities Commission for exemptive relief under paragraph 5.5(1)(b) of National Instrument 81-102 to approve the mergers of several terminating mutual funds into continuing mutual funds.

The mergers were proposed because the terminating funds risked losing their 'mutual fund trust' status under the Income Tax Act due to declining unitholder numbers.

The Commission granted the requested relief, provided the Manager obtains prior approval from the unitholders of the terminating funds.

The Manager applied for exemptive relief on behalf of several terminating mutual funds to merge them into continuing funds.

Regulatory approval was required because the mergers did not satisfy all criteria for pre-approved reorganizations under section 5.6 of NI 81-102, specifically regarding fundamental investment objectives and tax-deferred transaction status.

The Ontario Securities Commission granted the requested relief, finding that the mergers would achieve a fair and reasonable result for the funds and provide benefits such as a streamlined product line-up and increased portfolio diversification.

The Filer, ONEREIT, 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 Commission found that the Filer met the necessary requirements, including having fewer than 15 securityholders in each Canadian jurisdiction and fewer than 51 securityholders worldwide, and that its securities were not traded on any marketplace.

The order was granted.

The applicant applied to the Ontario Securities Commission for exemptive relief on behalf of an exchange-traded mutual fund.

The applicant sought an exemption from the borrowing restrictions in section 2.6(a)(i) of National Instrument 81-102 to permit the fund to borrow cash to fund distributions.

The applicant also sought an exemption to treat the fund's exchange-traded securities and mutual fund securities as separate funds for the purpose of compliance with the sales and redemptions requirements in Parts 9, 10, and 14 of NI 81-102.

The Commission granted the requested exemptions subject to specified conditions.

The Filer applied for exemptive relief on behalf of an exchange-traded series of a mutual fund from the ETF Prospectus Form Requirement, the Underwriter's Certificate Requirement, and the Take-over Bid Requirements.

The principal regulator granted the requested exemptions, subject to conditions including the filing of a simplified prospectus and annual information form, and the provision of ETF Facts to dealers.

The Filer, Franco-Nevada GLW Holdings Corp., 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 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 requested order.

The Filer applied to the Ontario Securities Commission for an order under the securities legislation that it has ceased 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 no securities traded on a marketplace.

The order was granted.

The Filer, Avnel Gold Mining Limited, applied to the Ontario Securities Commission as the principal regulator for an order that it has ceased to be 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 Commission was satisfied that the test under the legislation was met and granted the order.

Mackenzie Financial Corporation applied for exemptive relief on behalf of the Mackenzie Global Sustainability and Impact Balanced Fund from the concentration restriction in subsection 2.1(1) of National Instrument 81-102.

The relief sought to permit the Fund to invest up to 20% or 35% of its net asset value in certain highly-rated foreign government securities.

The Ontario Securities Commission granted the requested relief, subject to conditions including that the securities are traded on a mature and liquid market and that the Fund's simplified prospectus discloses the additional risks associated with concentration.

The applicant, an investment fund manager, applied to the Ontario Securities Commission for exemptive relief to extend the time limits for filing the renewal prospectus of certain mutual funds.

The extension was requested to provide adequate time to address and resolve issues raised in a pre-filing application with the principal regulator.

The Commission granted the requested relief, finding that it would not affect the general accuracy of the current offering documents and would not be prejudicial to the public interest.

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

The Commission found that the outstanding securities of the Filer are beneficially owned by fewer than 15 securityholders in each jurisdiction and fewer than 51 worldwide, and no securities are traded on a marketplace.

The order was granted.

The Filer applied on behalf of two mutual funds for an exemption from the concentration restriction in subsection 2.1(1) of National Instrument 81-102.

The exemption would permit the funds to invest up to 20% or 35% of their net asset value in evidences of indebtedness issued or guaranteed by certain foreign governments or supranational agencies, subject to specific credit rating requirements.

The principal regulator granted the requested relief, subject to conditions including that the securities are traded on a mature and liquid market and that the funds' prospectuses disclose the associated risks and the nature of the relief.

The filers applied to the Ontario Securities Commission for exemptive relief from the prospectus delivery requirement and certain prospectus form requirements in connection with an at-the-market distribution of common shares.

The Commission granted the requested relief, subject to conditions including trading volume and value thresholds, and a cap on the market value of shares distributed.

The Commission also granted confidentiality relief until the earlier of the execution of the equity distribution agreement, a waiver of confidentiality, or 90 days from the decision.

Sentry Investments Inc. and CI Financial Corp. applied to the Ontario Securities Commission for approval of a change of control of Sentry, the manager of the Sentry Funds, and for an abridgement of the 60-day notice period required to be given to securityholders.

The Commission granted the requested relief, approving the change of control and abridging the notice period to not less than 38 days, provided no material changes are made to the management or operations of the funds for at least 60 days following the delivery of the notice.