Ontario Securities Commission

The applicant, Russell Investments Canada Limited, applied for exemptive relief on behalf of its mutual funds from paragraphs 2.5(2)(a) and 2.5(2)(c) of National Instrument 81-102.

The relief sought to permit the funds to invest in exchange-traded funds that hold or obtain exposure to physical commodities on an unlevered basis.

The Ontario Securities Commission granted the exemption, subject to conditions including concentration limits and prospectus disclosure requirements.

The Filer applied for exemptive relief under subsection 5.5(1)(b) of National Instrument 81-102 to approve the proposed reorganization of several terminating mutual funds into continuing mutual funds.

The Principal Regulator granted the requested relief, provided that the Filer obtains the prior approval of the securityholders of the terminating funds at a special meeting.

The Filer applied for exemptive relief from the requirement in subsection 3.2.01(1) of National Instrument 81-101 to deliver Fund Facts documents to purchasers before accepting instructions for the purchase of mutual fund securities.

The relief was sought for automatic switches of retail series investors to high net worth series securities when they meet minimum investment thresholds.

The Ontario Securities Commission granted the exemption, subject to conditions including notification plans, prospectus disclosure, and annual reminder notices.

The applicant, BMO Nesbitt Burns Inc., applied on behalf of existing and future investment funds for an exemption from the requirement under NI 81-106 to send an information circular to each registered holder of securities whose proxy is solicited.

The applicant sought to use the Notice-and-Access Procedure instead.

The Ontario Securities Commission granted the exemption, subject to conditions, noting that the procedure is already permitted for corporate finance issuers and would not be detrimental to investor protection.

The Filer applied to the Ontario Securities Commission for exemptive relief on behalf of existing and future investment funds it manages.

The requested relief sought an exemption from the requirement under NI 81-106 to send an information circular to each registered securityholder whose proxy is solicited, allowing the funds to use a Notice-and-Access Document instead.

The Commission granted the exemption, subject to numerous conditions regarding the content, timing, and procedure for sending the Notice-and-Access Document, ensuring securityholders maintain access to the same quality of disclosure material.

The applicant, an investment fund manager, applied to the Ontario Securities Commission for exemptive relief on behalf of certain pooled funds (Top Funds).

The relief sought to permit the Top Funds to invest in other mutual funds (Underlying Funds) directly or indirectly through derivative instruments, despite statutory restrictions on investing in substantial securityholders or related funds.

The Commission granted the requested relief, subject to conditions ensuring that the fund-on-fund structure does not result in duplicative fees and that appropriate disclosure is provided to investors.

The Filer, Next Edge Capital Corp., applied for exemptive relief from the requirement under NI 81-106 to send an information circular to each registered holder of securities whose proxy is solicited.

The Filer sought to use a Notice-and-Access Procedure similar to that permitted for corporate finance issuers under NI 51-102 and NI 54-101.

The Ontario Securities Commission granted the exemption, subject to conditions ensuring securityholders receive a Notice-and-Access Document and retain the ability to request printed copies of the information circular.

Several investment fund managers applied to the Ontario Securities Commission for exemptive relief from the requirement under paragraph 12.2(2)(a) of National Instrument 81-106 to send an information circular to each registered holder of securities whose proxy is solicited.

The applicants sought to use a Notice-and-Access Document instead, similar to the procedure available to corporate finance issuers under National Instruments 51-102 and 54-101.

The Commission granted the exemption, subject to conditions ensuring that securityholders receive adequate notice, instructions on how to access the information circular electronically, and the ability to request a printed copy without charge.

Telesta Therapeutics Inc. applied to the Ontario Securities Commission for an order to cease being a reporting issuer in all jurisdictions of Canada.

The Filer had recently been acquired by ProMetic Life Sciences Inc. through a plan of arrangement and its common shares were delisted from the Toronto Stock Exchange.

The Commission granted the order, finding that the Filer met the necessary criteria despite a minor default in filing recent interim financial statements.

The Filer, Opko Health, Inc., applied to the Ontario Securities Commission for an order to cease being a reporting issuer in all jurisdictions of Canada.

The Filer demonstrated that Canadian residents beneficially own less than 2% of its outstanding securities and comprise less than 2% of its total securityholders worldwide.

The Commission granted the order, deeming the Filer to cease to be a reporting issuer.

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

The mergers did not meet all pre-approval criteria because the investment objectives were not substantially similar and one merger was not a qualifying exchange under the Income Tax Act.

The principal regulator granted the requested approval, finding the mergers beneficial to securityholders due to reduced costs and increased portfolio size.

The Manager applied to the Ontario Securities Commission for approval to merge two terminating mutual funds into two continuing mutual funds.

Regulatory approval was required because the mergers did not meet all pre-approval criteria under NI 81-102, specifically regarding substantially similar investment objectives and the taxable nature of one merger.

The Commission granted the requested exemptive relief, finding the mergers beneficial to securityholders due to streamlined product offerings, reduced costs, and greater portfolio diversification.

The applicant, a special purpose acquisition corporation, applied to the Ontario Securities Commission for exemptive relief from the requirement in Item 14.2 of Form 51-102F5 to include prospectus-level disclosure in its management information circular.

The applicant sought to incorporate by reference a recently filed non-offering prospectus into the circular for a shareholder meeting to approve a qualifying acquisition.

The Commission granted the requested exemption, provided the prospectus is incorporated by reference in the information circular.

The Filer, Starlight U.S. Multi-Family (No. 3) Core Fund, applied to the Ontario Securities Commission for an order 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 legislation was met and granted the requested order.

Campar Capital Corporation 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 Commission, acting as the principal regulator, found that the applicant met the 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 applicant sought approval under paragraph 5.5(1)(a) of National Instrument 81-102 for a proposed change of manager of several mutual funds from the applicant to a new manager following an acquisition.

The Principal Regulator granted the approval, subject to the applicant obtaining prior approval from the securityholders of the funds and providing them with a management information circular containing sufficient information to make an informed decision.

The Filer, Starlight U.S. Multi-Family Core Fund, applied to the Ontario Securities Commission for an order to cease being 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 granted the order, satisfied that the statutory test was met.

The filer, Starlight U.S. Multi-Family (No. 2) Core Fund, applied to the Ontario Securities Commission for an order declaring that it has ceased to be a reporting issuer in all jurisdictions of Canada where it currently holds that status.

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, satisfied that the statutory test was met, granted the requested order.

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

The application was granted.

The Filer, Isoore Ltd., applied for an order to cease being a reporting issuer in all jurisdictions of Canada where it is a reporting issuer.

The principal regulator, the Ontario Securities Commission, found that the Filer met the requirements, including having fewer than 51 securityholders worldwide and no securities traded on a marketplace.

The order was granted.