<SEC-DOCUMENT>0001062993-16-007786.txt : 20160212
<SEC-HEADER>0001062993-16-007786.hdr.sgml : 20160212
<ACCEPTANCE-DATETIME>20160212163023
ACCESSION NUMBER:		0001062993-16-007786
CONFORMED SUBMISSION TYPE:	SC 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20160212
DATE AS OF CHANGE:		20160212

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			North American Energy Partners Inc.
		CENTRAL INDEX KEY:			0001368519
		STANDARD INDUSTRIAL CLASSIFICATION:	OIL, GAS FIELD SERVICES, NBC [1389]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-82223
		FILM NUMBER:		161419716

	BUSINESS ADDRESS:	
		STREET 1:		ZONE 3, ACHESON INDUSTRIAL AREA
		STREET 2:		2-53016 HIGHWAY 60
		CITY:			ACHESON
		STATE:			A0
		ZIP:			T7X 5A7
		BUSINESS PHONE:		780-960-7171

	MAIL ADDRESS:	
		STREET 1:		ZONE 3, ACHESON INDUSTRIAL AREA
		STREET 2:		2-53016 HIGHWAY 60
		CITY:			ACHESON
		STATE:			A0
		ZIP:			T7X 5A7

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NORTH AMERICAN ENERGY PARTNERS INC.
		DATE OF NAME CHANGE:	20061129

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NACG Holdings Inc.
		DATE OF NAME CHANGE:	20060707

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Polar Asset Management Partners Inc.
		CENTRAL INDEX KEY:			0001326389
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		SC 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		401 BAY STREET
		STREET 2:		SUITE 1900, P.O. BOX 19
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5H 2Y4
		BUSINESS PHONE:		416-367-4364

	MAIL ADDRESS:	
		STREET 1:		401 BAY STREET
		STREET 2:		SUITE 1900, P.O. BOX 19
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5H 2Y4

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Polar Securities Inc.
		DATE OF NAME CHANGE:	20050506
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G/A
<SEQUENCE>1
<FILENAME>schedule13ga.htm
<DESCRIPTION>SC 13G/A
<TEXT>
<HTML>
<HEAD>
   <TITLE>Polar Asset Management Partners Inc.: Schedule 13G/A - Filed by newsfilecorp.com</TITLE>
   <META name="HandheldFriendly" content="true">
</HEAD>

<BODY style="font-size:10pt;">

<HR noshade align="center" width=100% size=3 color="black">
<A name=page_1></A>
<P align=center><B><FONT size=5>UNITED STATES </FONT><BR></B><B><FONT
size=5>SECURITIES AND EXCHANGE COMMISSION</FONT></B><B> <BR>Washington, D.C.
20549 </B></P>
<P align=center><B><FONT size=5>SCHEDULE 13G/A </FONT></B></P>
<P align=center>Under the Securities Exchange Act of 1934 </P>
<P align=center>(Amendment No. 1)* </P>
<P align=center><B><U><FONT size=5>North American Energy Partners Inc.
</FONT></U><BR></B>(Name of Issuer) </P>
<P align=center><B><U>Common Shares </U><BR></B>(Title of Class of Securities)
</P>
<P align=center><B><U>656844107 </U><BR></B>(CUSIP Number) </P>
<P align=center><B><U>December 31, 2015 </U><BR></B>(Date of Event which
Requires Filing of this Statement) </P>
<P align=justify>Check the appropriate box to designate the rule pursuant to
which this Schedule is filed: </P>
<P style="MARGIN-LEFT: 5%" align=justify>[ x ] Rule 13d-1(b) </P>
<P style="MARGIN-LEFT: 5%" align=justify>[ ] Rule 13d-1(c) </P>
<P style="MARGIN-LEFT: 5%" align=justify>[ ] Rule 13d-1(d) </P>
<P align=center>(Page 1 of 6 Pages) </P>
<P align=justify>*The remainder of this cover page shall be filled out for a
reporting person&#146;s initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page. </P>
<P align=justify>The information required in the remainder of this cover page
shall not be deemed to be &#147;filed&#148; for the purpose of Section 18 of the
Securities Exchange Act of 1934 (&#147;Act&#148;) or otherwise subject to the liabilities
of that section of the Act but shall be subject to all other provisions of the
Act (however, see the <I>Notes</I>). </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_2></A><BR>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=4 width="100%" border=0>

  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=left><B>CUSIP No.</B> <B>656844107</B> </TD>
    <TD align=center width="33%"><B>13G/A</B> </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=center width="33%"><B>Page 2 of 6 Pages</B>
</TD></TR></TABLE></DIV><BR>
<DIV>
<TABLE
style="FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse"
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD align=left ><B>1</B> <BR></TD>
    <TD align=left width="96%" colSpan=3><B>Names of Reporting Persons</B>
      <BR>&nbsp; <BR>Polar Asset Management Partners Inc. </TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>2</B> <BR><BR></TD>
    <TD align=left width="96%" colSpan=3><B>Check the appropriate box if a
      member of a Group (see instructions)</B> <BR>&nbsp;
      <BR>&nbsp;&nbsp;&nbsp;&nbsp; (a) [ ] <BR>&nbsp;&nbsp;&nbsp;&nbsp; (b) [ ]
    </TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>3</B> <BR></TD>
    <TD align=left width="96%" colSpan=3><B>Sec Use Only</B>
      <BR>&nbsp;&nbsp;&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>4</B> <BR></TD>
    <TD align=left width="96%" colSpan=3><B>Citizenship or Place of
      Organization</B> <BR>&nbsp;&nbsp; <BR>Canada </TD></TR>
  <TR vAlign=top>
    <TD align=center colSpan=2 rowSpan=4 ><BR><BR><B>Number
      of</B> <BR><B>Shares</B> <BR><B>Beneficially</B> <BR><B>Owned by Each</B>
      <BR><B>Reporting Person</B> <BR><B>With:</B> <BR><BR><BR></TD>
    <TD align=left width="5%" ><B>5</B> <BR></TD>
    <TD align=left width="81%"><B>Sole Voting Power</B> <BR>&nbsp;
      <BR>3,484,716* </TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" ><B>6</B> <BR><BR></TD>
    <TD align=left width="81%"><B>Shared Voting Power</B> <BR>&nbsp; <BR>0
  </TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" ><B>7</B> <BR><BR></TD>
    <TD align=left width="81%"><B>Sole Dispositive Power</B> <BR>&nbsp;
      <BR>3,484,716* </TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" ><B>8</B> <BR></TD>
    <TD align=left width="81%"><B>Shared Dispositive Power</B> <BR>&nbsp;
      <BR>0 </TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>9</B> <BR></TD>
    <TD align=left width="96%" colSpan=3><B>Aggregate Amount Beneficially
      Owned by Each Reporting Person</B> <BR>&nbsp; <BR>3,484,716* </TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>10</B> <BR></TD>
    <TD align=left width="96%" colSpan=3><B>Check box if the aggregate amount
      in row (9) excludes certain shares (See Instructions)</B> <BR>&nbsp; <BR>[
      ] </TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>11</B> <BR></TD>
    <TD align=left width="96%" colSpan=3><B>Percent of class represented by
      amount in row (9)</B> <BR>&nbsp; <BR>10.39%* </TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>12</B> <BR></TD>
    <TD align=left width="96%" colSpan=3><B>Type of Reporting Person (See
      Instructions)</B> <BR>&nbsp; <BR>IA </TD></TR></TABLE></DIV>
<P align=justify>* The information set forth on this cover pages reflects
information as of February 10, 2016. As of December 31, 2015, the Reporting
Person may have been deemed to beneficially own 3,337,166 Common Shares,
representing 9.95% of the outstanding Common Shares as of such time. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_3></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=4 width="100%" border=0>

  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=left><B>CUSIP No.</B> <B>656844107</B> </TD>
    <TD align=center width="33%"><B>13G/A</B> </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=center width="33%"><B>Page&nbsp;3 of 6 Pages</B>
</TD></TR></TABLE>
<P align=justify>This Amendment No. 1 amends the statement on Schedule 13G filed
on December 11, 2015 (as amended, the &#147;<U>Schedule</U> <U>13G</U>&#148;) with respect
to Shares of the Company (each as defined below). Capitalized terms not
otherwise defined in this Amendment have the meanings set forth in the Schedule
13G. </P>
<P align=justify><B>Item 1. </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>(a)</B> </TD>
    <TD>
      <P align=justify><B>Name of Issuer:</B></P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>The name of the issuer is North American Energy Partners
      Inc. (the &#147;<U>Company</U>&#148;).</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"><B>(b)</B> </TD>
    <TD>
      <P align=justify><B>Address of Issuer&#146;s Principal Executive
      Offices:</B></P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>The Company&#146;s principal executive offices are located at
      Suite 300, 188178 Stony Plain Road, Edmonton, Alberta T5S
  0C2.</P></TD></TR></TABLE>
<P align=justify><B>Item 2. </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><B>(a)</B> </TD>
    <TD>
      <P align=justify><B>Name of Person Filing:</B></P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>This statement is filed by Polar Asset Management
      Partners Inc., a company incorporated under the laws on Ontario, Canada,
      which serves as the investment advisor to Polar Opportunities Master Fund,
      a Cayman Islands exempted company ("<U>POMF</U>"), and Polar Micro-Cap
      Fund, an open-ended investment trust created under the laws of the
      Province of Ontario pursuant to the terms of the trust agreement dated as
      of January 31, 2014 (&#147;<U>PMCF</U>&#148;), with respect to the Shares directly
      held by POMF and PMCF.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>The filing of this statement should not be construed as
      an admission that the Reporting Person is, for the purposes of Section 13
      of the Act, the beneficial owner of the Shares reported herein.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"><B>(b)</B> </TD>
    <TD>
      <P align=justify><B>Address of Principal Business Office or, if None,
      Residence:</B></P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>The address of the business office of the Reporting
      Person is 401 Bay Street, Suite 1900, PO Box 19, Toronto, Ontario M5H 2Y4,
      Canada.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"><B>(c)</B> </TD>
    <TD>
      <P align=justify><B>Citizenship:</B></P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>The citizenship of the Reporting Person is set forth
      above.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"><B>(d)</B> </TD>
    <TD>
      <P align=justify><B>Title and Class of Securities:</B></P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>Common shares ("<U>Shares</U>")</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%"><B>(e)</B> </TD>
    <TD>
      <P align=justify><B>CUSIP No.:</B></P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>656844107</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left ><B>Item 3.</B> </TD>
    <TD align=left width="90%"><B>If this statement is filed pursuant to &#167;&#167;
      240.13d-1(b) or 240.13d-2(b) or (c), check whether the</B> <B>person
      filing is a:</B> </TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  >&nbsp;</TD>
    <TD align=left >(a) </TD>
    <TD align=left width="5%" >[_] </TD>
    <TD align=left width="85%">Broker or dealer registered under Section 15 of
      the Act; </TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_4></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=4 width="100%" border=0>

  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=left><B>CUSIP No.</B> <B>656844107</B> </TD>
    <TD align=center width="33%"><B>13G/A</B> </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=center width="33%"><B>Page&nbsp;4 of 6 Pages</B>
</TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  >&nbsp;</TD>
    <TD align=left >(b) </TD>
    <TD align=left width="5%" >[_] </TD>
    <TD align=left width="85%">Bank as defined in Section 3(a)(6) of the Act;
    </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="85%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >(c) </TD>
    <TD align=left width="5%" >[_] </TD>
    <TD align=left width="85%">Insurance company as defined in Section
      3(a)(19) of the Act; </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="85%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >(d) </TD>
    <TD align=left width="5%" >[_] </TD>
    <TD align=left width="85%">Investment company registered under Section 8
      of the Investment Company Act of 1940; </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="85%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >(e) </TD>
    <TD align=left width="5%" >[_] </TD>
    <TD align=left width="85%">An investment adviser in accordance with Rule
      13d-1(b)(1)(ii)(E); </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="85%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >(f) </TD>
    <TD align=left width="5%" >[_] </TD>
    <TD align=left width="85%">An employee benefit plan or endowment fund in
      accordance with Rule 13d-1(b)(1)(ii)(F); </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="85%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >(g) </TD>
    <TD align=left width="5%" >[_] </TD>
    <TD align=left width="85%">A parent holding company or control person in
      accordance with Rule 13d-1(b)(1)(ii)(G); </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="85%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left >(h) </TD>
    <TD align=left width="5%" >[_] </TD>
    <TD align=left width="85%">A savings associations as defined in Section
      3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="85%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left >(i) </TD>
    <TD align=left width="5%" >[_] </TD>
    <TD align=left width="85%">A church plan that is excluded from the
      definition of an investment company under section 3(c)(14) of the
      Investment Company Act of 1940; </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="85%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >(j) </TD>
    <TD align=left width="5%" >[X] </TD>
    <TD align=left width="85%">A non-U.S. institution in accordance with Rule
      240.13d-1(b)(1)(ii)(J); </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" >&nbsp;</TD>
    <TD align=left width="85%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >(k) </TD>
    <TD align=left width="5%" >[_] </TD>
    <TD align=left width="85%">Group, in accordance with Rule
      240.13d-1(b)(1)(ii)(K). </TD></TR></TABLE>
<P style="MARGIN-LEFT: 5%" align=justify>If filing as a non-U.S. institution in
accordance with Rule 240.13d -1(b)(1)(ii)(J), please specify the type of
institution:</P>
<P style="MARGIN-LEFT: 5%" align=justify>The Reporting Person is an investment
fund manager registered with the Ontario Securities Commission and a
broker-dealer registered with the Investment Industry Regulatory Organization of
Canada. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left  ><STRONG>Item 4. </STRONG></TD>
    <TD align=left width="90%"><B>Ownership</B> </TD></TR></TABLE>
<P style="MARGIN-LEFT: 10%" align=justify>The percentages used herein are
calculated based upon 33,528,901 Shares reported to be outstanding as of October
31, 2015 in the Company&#146;s Report of Foreign Private Issuer on Form 6-K filed by
the Company with the Securities and Exchange Commission on November 3, 2015.
</P>
<P style="MARGIN-LEFT: 10%" align=justify>The information required by Items 4(a)
- (c) is set forth in Rows 5 - 11 of the cover page for the Reporting Person and
is incorporated herein by reference. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left ><B>Item 5.</B> </TD>
    <TD align=left width="90%"><B>Ownership of Five Percent or Less of a
      Class.</B> </TD></TR></TABLE>
<P style="MARGIN-LEFT: 10%" align=justify>Not applicable. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left ><B>Item 6.</B> </TD>
    <TD align=left width="90%"><B>Ownership of more than Five Percent on
      Behalf of Another Person.</B> </TD></TR></TABLE>
<P style="MARGIN-LEFT: 10%" align=justify>See Item 2. PMCF has the right to
receive or the power to direct the receipt of dividends or the proceeds from the
sale of more than 5% of the Shares. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left ><B>Item 7.</B> </TD>
    <TD align=left width="90%"><B>Identification and classification of the
      subsidiary which acquired the security being reported on</B> <B>by the
      parent holding company or control person.</B> </TD></TR></TABLE>
<P style="MARGIN-LEFT: 10%" align=justify>Not Applicable. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_5></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=4 width="100%" border=0>

  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=left><B>CUSIP No.</B> <B>656844107</B> </TD>
    <TD align=center width="33%"><B>13G/A</B> </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=center width="33%"><B>Page&nbsp;5 of 6 Pages</B>
</TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left ><B>Item 8.</B> </TD>
    <TD align=left width="90%"><B>Identification and classification of members
      of the group.</B> </TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; </TD>
    <TD align=left width="90%">Not Applicable. </TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>Item 9.</B> </TD>
    <TD align=left width="90%"><B>Notice of Dissolution of Group.</B> </TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp; </TD>
    <TD align=left width="90%">Not Applicable. </TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>Item 10.</B> </TD>
    <TD align=left width="90%"><B>Certifications.</B> </TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left ></TD>
    <TD align=left width="90%">
      <P align=justify>By signing below the Reporting Person certifies that, to
      the best of its knowledge and belief, (i) the securities referred to above
      were acquired and are held in the ordinary course of business and were not
      acquired and are not held for the purpose of or with the effect of
      changing or influencing the control of the issuer of the securities and
      were not acquired and are not held in connection with or as a participant
      in any transaction having that purpose or effect and (ii) the foreign
      regulatory schemes applicable to investment fund managers and
      broker-dealers are substantially comparable to the regulatory schemes
      applicable to the functionally equivalent U.S. institutions. The Reporting
      Person also undertakes to furnish to the Commission staff, upon request,
      information that would otherwise be disclosed in a Schedule 13D.
  </P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_6></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=4 width="100%" border=0>

  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=left><B>CUSIP No.</B> <B>656844107</B> </TD>
    <TD align=center width="33%"><B>13G/A</B> </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=center width="33%"><B>Page 2 of 6 Pages</B> </TD></TR></TABLE>
<P align=center><B>SIGNATURE </B></P>
<P align=justify>After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct. </P>
<P align=justify>Dated: February 12, 2016 </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left colSpan=2 >POLAR ASSET MANAGEMENT PARTNERS
      INC. </TD>
    <TD align=left width="49%" >&nbsp;</TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="45%" >&nbsp; </TD>
    <TD width="49%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left colSpan=2
    ><I>/s/ Robyn Schultz</I> </TD>
    <TD align=left width="49%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left >Name: </TD>
    <TD align=left width="45%" >Robyn Schultz </TD>
    <TD align=left width="49%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left >Title: </TD>
    <TD align=left width="45%" >Chief Compliance Officer </TD>
    <TD align=left width="49%" >&nbsp;</TD></TR></TABLE><BR>
<HR align=center width="100%" color=black noShade SIZE=5>

</BODY>

</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
