The Securities Commission has granted an exemption to Purpose Investments Inc., the manager of Purpose Bitcoin Fund and Purpose Ether Fund, from the requirement under subsection 2.1(2) of National Instrument 81-101 Mutual Fund Prospectus Disclosure (NI 81-101). This requirement generally prohibits the filing of a prospectus more than 90 days after the receipt for the preliminary prospectus. The exemption, requested on September 16, 2021, will allow the Funds to file their prospectus after this 90-day period, provided it is filed no later than October 31, 2021. The decision is based on the information and representations made in the application and is intended to facilitate the issuance of a receipt for the Funds’ prospectus. The legislative authority for this decision comes from section 6.1 of NI 81-101, which allows for exemptions from certain requirements of the instrument.
