Securities Law & Instruments

Headnote:

 

Clause 213(3)(b) of the Loan and Trust Corporations Act – application by manager that is registered as an investment fund manager, portfolio manager and exempt market dealer under the Securities Act, with no prior track record acting as trustee, for approval to act as trustee of pooled funds and future pooled funds to be established and managed by the applicant and offered pursuant to a prospectus exemption.

 

Statutes Cited

 

Loan and Trust Corporations Act, R.S.O. 1990, c. L.25, as am., s. 213(3)(b).

 

August 18, 2017

 

Borden Ladner Gervais LLP

Bay Adelaide Centre, East Tower

22 Adelaide Street West

Toronto, Ontario M5H 4E3

 

Attention: Matthew P. Williams

 

Dear Sirs/Mesdames:

 

Re:         Hillmount Capital Management Inc. (the “Applicant”)

 

Application pursuant to clause 213(3)(b) of the Loan and Trust Corporations Act (Ontario) for approval to act as trustee

 

Application No. 2017/0155

 

Further to your application dated March 15, 2017 (the “Application”) filed on behalf of the Applicant, and based on the facts set out in the Application and the representation by the Applicant that the assets of Hillmount Mortgage Fund, Hillmount Alternative Lending Fund, Fusion Private Equity Fund and any other future mutual fund trusts that the Applicant may establish and manage from time to time, the securities of which will be offered pursuant to prospectus exemptions, will be held in the custody of a trust company incorporated and licensed or registered under the laws of Canada or a jurisdiction, or a bank listed in Schedule I, II or III of the Bank Act (Canada), or a qualified affiliate of such bank or trust company, the Ontario Securities Commission (the “Commission”) makes the following order:

 

Pursuant to the authority conferred on the Commission in clause 213(3)(b) of the Loan and Trust Corporations Act (Ontario), the Commission approves the proposal that the Applicant act as trustee of Hillmount Mortgage Fund, Hillmount Alternative Lending Fund, Fusion Private Equity Fund and any other future mutual fund trusts which may be established and managed by the Applicant from time to time, the securities of which will be offered pursuant to prospectus exemptions.

 

Yours truly,

 

“Deborah Leckman”

Commissioner

 

“Philip Anisman”

Commissioner