The Ontario Securities Commission (OSC) has granted an application from Portland Investment Counsel Inc. (the Filer) and its associated funds for an extension of the annual and interim financial statement filing and delivery deadlines under National Instrument 81-106 Investment Fund Continuous Disclosure (NI 81-106). The Filer requested the extension due to the Funds’ investments in Underlying Funds with later financial reporting deadlines. The OSC granted a 90-day extension for the annual financial statement filing and delivery deadlines and a 60-day extension for the interim financial statement filing and delivery deadlines. The decision is based on the condition that the Funds will notify their respective securityholders of the extension and that the Funds’ investment strategy remains the same. The decision will terminate within one year if there are any amendments to NI 81-106 or other rules that substantially modify the deadlines.
