OSC Bulletin Volume 37, Issue 50 (December 11, 2014)
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The Ontario Securities Commission OSC Bulletin December 11, 2014 Volume 37, Issue 50 (2014), 37 OSCB The Ontario Securities Commission administers the Securities Act of Ontario (R.S.O. 1990, c. S.5) and the Commodity Futures Act of Ontario (R.S.O. 1990, c. C.20) The Ontario Securities Commission Published under the authority of the Commission by: Cadillac Fairview Tower Carswell, a Thomson Reuters business 22nd Floor, Box 55 One Corporate Plaza 20 Queen Street West 2075 Kennedy Road Toronto, Ontario Toronto, Ontario M5H 3S8 M1T 3V4 416-593-8314 or Toll Free 1-877-785-1555 416-609-3800 or 1-800-387-5164 Contact Centre - Inquiries, Complaints: Fax: 416-593-8122 TTY: 1-866-827-1295 Office of the Secretary: Fax: 416-593-2318 The OSC Bulletin is published weekly by Carswell, a Thomson Reuters business, under the authority of the Ontario Securities Commission. Subscriptions are available from Carswell at the price of $773 per year. Subscription prices include first class postage to Canadian addresses. Outside Canada, these airmail postage charges apply on a current subscription: U.S. $175 Outside North America $400 Single issues of the printed Bulletin are available at $20 per copy as long as supplies are available. Carswell also offers every issue of the Bulletin, from 1994 onwards, fully searchable on SecuritiesSource™, Canada’s pre-eminent web-based securities resource. SecuritiesSource™ also features comprehensive securities legislation, expert analysis, precedents and a weekly Newsletter. For more information on SecuritiesSource™, as well as ordering information, please go to: http://www.westlawecarswell.com/SecuritiesSource/News/default.htm or call Carswell Customer Relations at 1-800-387-5164 (416-609-3800 Toronto & Outside of Canada). Claims from bona fide subscribers for missing issues will be honoured by Carswell up to one month from publication date. Space is available in the Ontario Securities Commission Bulletin for advertisements. The publisher will accept advertising aimed at the securities industry or financial community in Canada. Advertisements are limited to tombstone announcements and professional business card announcements by members of, and suppliers to, the financial services industry. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise without the prior written permission of the publisher. The publisher is not engaged in rendering legal, accounting or other professional advice. If legal advice or other expert assistance is required, the services of a competent professional should be sought. © Copyright 2014 Ontario Securities Commission ISSN 0226-9325 Except Chapter 7 ©CDS INC. One Corporate Plaza Customer Relations 2075 Kennedy Road Toronto 1-416-609-3800 Toronto, Ontario Elsewhere in Canada/U.S. 1-800-387-5164 M1T 3V4 Fax 1-416-298-5082 www.carswell.com Email www.carswell.com/email Table of Contents Chapter 1 Notices / News Releases .................... 10929 Chapter 4 Cease Trading Orders ........................ 10983 1.1 Notices ........................................................ 10929 4.1.1 Temporary, Permanent & Rescinding 1.1.1 Notice of Ministerial Approval – Issuer Cease Trading Orders ....................... 10983 Amendments to NI 58-101 Disclosure of 4.2.1 Temporary, Permanent & Rescinding Corporate Governance Practices and Management Cease Trading Orders ........... 10983 Form 58-101F1 Corporate Governance 4.2.2 Outstanding Management & Insider Disclosure ..................................................... 10929 Cease Trading Orders ................................. 10983 1.2 Notices of Hearing ......................................... (nil) 1.3 News Releases .............................................. (nil) Chapter 5 Rules and Policies .............................. 10985 1.4 Notices from the Office 5.1.1 Implementation of the Final Stage of of the Secretary .......................................... 10930 Point of Sale Disclosure for Mutual 1.4.1 TG Residential Value Properties Ltd. ........... 10930 Funds: Pre-Sale Delivery of Fund Facts 1.4.2 IAC – Independent Academies Canada – CSA Notice of Amendments to Inc. et al. ....................................................... 10930 NI 81-101 Mutual Fund Prospectus 1.4.3 TG Residential Value Properties Ltd. ........... 10931 Disclosure and to Companion Policy 1.4.4 The Gatekeepers of Wealth Inc. and 81-101CP Mutual Fund Prospectus Joseph Bochner ........................................... 10931 Disclosure .................................................... 10985 5.1.2 Amendment Instrument for NI 58-101 Chapter 2 Decisions, Orders and Rulings .......... 10933 Disclosure of Corporate Governance 2.1 Decisions .................................................... 10933 Practices ...................................................... 11035 2.1.1 Investia Financial Services Inc. and Ten Star Financial Inc................................... 10933 Chapter 6 Request for Comments ...................... 11037 2.1.2 Graymont Limited and 6.1.1 Proposed Amendments to Certain Montrose Property Holdings Ltd. .................. 10936 National and Multilateral Instruments 2.1.3 Onex Credit Partners, LLC et al. .................. 10940 and Policies Related to the Recognition 2.1.4 Mackenzie Financial Corporation of Aequitas Neo Exchange Inc. .................... 11037 and Mackenzie Sovereign Bond Fund .......... 10944 2.1.5 Ayal Capital Advisors Limited and Ayal Chapter 7 Insider Reporting ................................ 11057 Capital Advisors Canadian Feeder LP ........ 10947 2.1.6 O’Leary Funds Management LP ................... 10953 Chapter 8 Notice of Exempt Financings............. 11165 2.1.7 Mackenzie Financial Corporation et al. ........ 10959 Reports of Trades Submitted on 2.2 Orders.......................................................... 10964 Forms 45-106F1 and 45-501F1 ............ 11165 2.2.1 TG Residential Value Properties Ltd. – ss. 127(7), 127(8) ..................................... 10964 Chapter 9 Legislation ............................................... (nil) 2.2.2 IAC – Independent Academies Canada Inc. et al. – ss. 127(1), 127(10) ..................... 10965 Chapter 11 IPOs, New Issues and Secondary 2.2.3 Celestica Inc. – s. 104(2)(c) .......................... 10966 Financings ........................................... 11167 2.2.4 Aequitas Neo Exchange Inc. – s. 101.2 ..................................................... 10974 Chapter 12 Registrations ....................................... 11173 2.2.5 Newcrest Mining Limited .............................. 10974 12.1.1 Registrants ................................................... 11173 2.2.6 TG Residential Value Properties Ltd. – s. 127(1) ................................................... 10976 Chapter 13 SROs, Marketplaces, 2.2.7 Crystallex International Corporation Clearing Agencies and et al. – s. 144 ................................................ 10978 Trade Repositories ............................. 11175 2.2.8 The Gatekeepers of Wealth Inc. and 13.1 SROs ............................................................... (nil) Joseph Bochner – s. 127 .............................. 10981 13.2 Marketplaces .............................................. 11175 2.3 Rulings ........................................................... (nil) 13.2.1 Liquidnet Canada – Notice of Approval of Proposed Changes .................................. 11175 Chapter 3 Reasons: Decisions, Orders and 13.3 Clearing Agencies ......................................... (nil) Rulings .................................................... (nil) 13.4 Trade Repositories ........................................ (nil) 3.1 OSC Decisions, Orders and Rulings ........... (nil) 3.2 Court Decisions, Order and Rulings ............ (nil) Chapter 25 Other Information ............................... 11177 25.1 Consents .................................................... 11177 25.1.1 First Sahara Energy Inc. – s. 4(b) of the Regulation ........................... 11177 Index .......................................................................... 11179 December 11, 2014 (2014), 37 OSCB Chapter 1 Notices / News Releases 1.1 Notices 1.1.1 Notice of Ministerial Approval – Amendments to NI 58-101 Disclosure of Corporate Governance Practices and Form 58-101F1 Corporate Governance Disclosure NOTICE OF MINISTERIAL APPROVAL OF AMENDMENTS TO NATIONAL INSTRUMENT 58-101 DISCLOSURE OF CORPORATE GOVERNANCE PRACTICES AND FORM 58-101F1 CORPORATE GOVERNANCE DISCLOSURE December 11, 2014 On November 28, 2014, the Minister of Finance approved amendments (the Amendments) made by the Ontario Securities Commission (OSC or Commission) to National Instrument 58-101 Disclosure of Corporate Governance Practices and Form 58- 101F1 Corporate Governance Disclosure. The Amendments were made by the Commission on September 23, 2014. The Amendments were published on the OSC website at http://www.osc.gov.on.ca on October 15, 2014 and in the OSC Bulletin on October 16, 2014 at (2014) 37 OSCB 9370. The Amendments come into force on December 31, 2014. The text of the Amendments is reproduced in Chapter 5 of this Bulletin. December 11, 2014 (2014), 37 OSCB 10929 Notices / News Releases 1.4 Notices from the Office of the Secretary 1.4.2 IAC – Independent Academies Canada Inc. et al. 1.4.1 TG Residential Value Properties Ltd. FOR IMMEDIATE RELEASE FOR IMMEDIATE RELEASE December 3, 2014 December