The Ontario Securities Commission has granted Waypoint Investment Partners Inc. an extension of the prospectus lapse date for the Waypoint Alternative Yield Fund. The extension is for 181 days, allowing the fund’s prospectus, originally set to lapse on January 31, 2023, to be consolidated with the prospectus of the Waypoint All Weather Alternative Fund, which has a lapse date of August 22, 2023. This decision is based on the Securities Act, R.S.O. 1990, c. S.5, specifically subsection 62(5).
The rationale for the extension includes cost reduction in renewal and printing, operational and administrative streamlining, and the facilitation of investor comparison of fund features. The Commission determined that there have been no material changes in the fund’s affairs since the current prospectus was issued, and any future material changes will be disclosed as required by law. The exemption is not expected to prejudice the public interest as the current prospectus and fund facts documents continue to provide accurate information.
The decision was made under the framework of National Policy 11-203 Process for Exemptive Relief Applications in Multiple Jurisdictions, with the Ontario Securities Commission acting as the principal regulator and the exemption intended to be relied upon in multiple Canadian provinces.