The Ontario Securities Commission granted Toronto Cleantech Capital Inc. (the Filer) an exemption from the requirement under National Instrument 52-107 that financial statements must be accompanied by an auditor’s report with an unmodified opinion. The exemption pertains to the audited financial statements of THS L.P. (THS LP) for the year ended November 30, 2022, which contain a modified opinion due to a scope limitation on inventory verification. This relief was granted because the auditors were unable to verify inventory physically for that period but provided an unmodified opinion for the subsequent year. The decision is conditional on the Filer including the audited financial statements for both 2022 and 2023 in its Filing Statement, with the only modification being the inventory qualification for 2022. This decision aligns with the provisions of National Instrument 52-107 and Companion Policy 41-101CP.
