The Securities Commission has granted an extension of the lapse date for the prospectus of Purpose Structured Equity Yield Portfolio II, managed by Purpose Investments Inc. The original lapse date was April 2, 2021, but due to an inadvertent failure to file a pro forma prospectus at least 30 days prior to this date, the filer missed the deadline. To rectify this, the filer submitted a pro forma prospectus as soon as the oversight was realized.
The Commission has extended the lapse date by 20 days to April 22, 2021, to allow for proper review and processing of the renewal prospectus. This decision is based on the fact that there have been no material changes in the Fund’s affairs since the date of the current prospectus, and the current information remains accurate. The extension is not expected to be prejudicial to the public interest.
The decision is supported by section 62(5) of the Securities Act (Ontario) and is consistent with the principles of National Policy 11-203 Process for Exemptive Relief Applications in Multiple Jurisdictions. The extension was granted without conditions.