Order in Council 1656/2025

On the recommendation of the undersigned, the Lieutenant Governor of Ontario, by and with the advice and concurrence of the Executive Council of Ontario, orders that:

Whereas SON Medical Innovations LP (the “Issuer”), a limited partnership formed and existing under the laws of the Province of Ontario, proposes to finance its $250 million subscription for 100% of the preferred units of Gamzook’aamin Aakoziwin LP (the “Purpose”) by issuing 30-year, fixed rate, secured, fully amortizing bonds in the aggregate principal amount of up to $255 million (the “Series One Senior Bonds”);

Therefore,

1. Pursuant to section 22 (1) of the Financial Administration Act (the “Act”), the Minister of Finance, on behalf of Ontario, is authorized to guarantee to the indenture trustee for the Series One Senior Bonds, for the benefit of the holders of the Series One Senior Bonds, the payment by the Issuer of the principal and interest on the principal due under the Series One Senior Bonds (the “Guarantee”) in accordance with the terms of this Order.
2. Pursuant to section 22 (2) of the Act, the Minister of Finance is authorized to determine additional terms, conditions and the amount of the Guarantee (which Guarantee may include ancillary agreements), provided that
3. The proceeds from the Series One Senior Bonds are used by the Issuer solely for the Purpose and for the payment of advisor and other fees directly related to the Purpose;
   1. The principal amount of the Series One Senior Bonds shall not exceed $255 million (the “Principal”); and
   2. The maximum term of the Guarantee shall not exceed 30 years from the date of settlement of the Series One Senior Bonds (the “Expiry Date”), provided that Ontario’s obligations in respect of any claims on the Guarantee arising prior to the Expiry Date shall survive the Expiry Date.
4. Pursuant to section 22 (4) of the Act, the Issuer shall pay to the Minister of Finance a fee of 0.35% of the Principal on the date of settlement of the Series One Senior Bonds and semi-annually thereafter a fee of 0.125% of the remaining principal outstanding under the Series One Senior Bonds.