First Asset Management Inc. and First Asset DEX Provincial Bond ETF -- s. 19.1 of NI 41-101 General Prospectus Requirements

Headnote

Application under National Policy 11-203 Process for Exemptive Relief Applications in Mmultiple Jurisdictions -- Extension granted of the time period prescribed under section 2.3(1) of NI 41-101 for filing a final prospectus.

Applicable Legislative Provisions

National Instrument 41-101 General Prospectus Requirements, ss. 2.3(1), 19.1, 19.3.

December 4, 2012

First Asset Management Inc. and

First Asset DEX Provincial Bond ETF

Attention: Kenneth Ng

Dear Sirs/Mesdames:

By letter dated November 9, 2012 (the Application), the Filer and the Fund applied pursuant to section 19.1 of NI 41-101 for relief from the operation of section 2.3(1) of NI 41-101, which prohibits an issuer from filing a final prospectus more than 90 days after the date of the receipt for the preliminary prospectus.

This letter acknowledges for the purposes of section 19.3(2)(ii) of NI 41-101 that, based on the information and representations made in the Application, and for the purposes described in the Application, the requested relief is granted to permit an extension of the time for filing a final prospectus to January 31, 2013, to be evidenced by the issuance of a receipt for the Fund's prospectus, provided the Fund's final prospectus is filed no later than January 31, 2013.

Yours very truly,