The Ontario Securities Commission (OSC) has granted Frontenac Mortgage Investment Corporation (the Filer) an extension for the time limits associated with filing a renewal prospectus. The Filer’s current prospectus, dated June 16, 2022, was set to lapse on June 16, 2023, but the Filer has been engaged in ongoing discussions with OSC Staff regarding an amendment and a pro forma prospectus, which have not yet been resolved. To avoid an interruption in the distribution of the Filer’s common shares, the OSC has extended the lapse date to December 16, 2023, under the condition that the Filer will not distribute securities under the current prospectus until a receipt for the renewal prospectus is issued.
This decision is based on the Filer’s representations that there have been no material changes in its affairs since the last amendment to the current prospectus and that it will file an amendment if any material changes occur. The Filer has also ceased distribution under the current prospectus during this process. The OSC determined that granting this relief aligns with the applicable securities legislation and is not prejudicial to the public interest.
The decision is grounded in the Securities Act (R.S.O. 1990, c. S.5, as amended, s. 62(5)) and National Instrument 41-101 General Prospectus Requirements, and it follows the process outlined in National Policy 11-203 for Exemptive Relief Applications in Multiple Jurisdictions.