Purpose Investments Inc.
National Policy 11-203 Process for Exemptive Relief Applications in Multiple Jurisdictions -- Exemption from subsection 2.1(2) of NI 81-101 to file a prospectus more than 90 days after the date of the receipt for the preliminary prospectus.
Applicable Legislative Provisions
National Instrument 81-101 Mutual Fund Prospectus Disclosure, ss. 2.1(2), 6.1.
October 4, 2021
Attention: Jonathan Lee
- Purpose Bitcoin Fund and the Purpose Ether Fund (collectively, the Funds)
- Preliminary Simplified Prospectus, Annual Information Form, and Fund Facts dated June 15, 2021
- Exemptive Relief Application under Part 6 of National Instrument 81-101 Mutual Fund Prospectus Disclosure (NI 81-101)
Application No. 2021/0516; SEDAR Project No. 3238469
By letter dated September 16, 2021 (the Application), Purpose Investments Inc., the investment fund manager of the Funds, 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 Funds' prospectus, subject to the condition that the prospectus be filed no later than October 31, 2021.
Yours very truly,