LONG TERM DEBT: $575,000.

UNITS SOLD PRIVATELY: In October 2010, the company completed a two-tranche non-brokered private placement for gross proceeds of Canadian Dollar (C$) 350,000. The private placement was comprised of 3,500,000 units at a price of C$0.10 per unit. Each unit was comprised of one Common share and one-half of one Common share purchase warrant. Each whole warrant entitled the holder to purchase one Common share at C$0.15 per share for a period of 24 months following the closing date. December 23, 2010, the company completed a non-brokered private placement for gross proceeds of C$1,250,000. The private placement was comprised of 5,000,000 units at a price of C$0.25 per unit. Each unit was comprised of one Common share and one-half of one Common share purchase warrant. Each whole warrant entitled the holder to purchase one additional Common share at C$0.35 per share until Dec. 23, 2012. In connection with the financing, the company paid cash finders' fees totaling C$91,000 and issued, as additional consideration, 400,000 non-transferable warrants entitling the holder to acquire the same number of Common shares at C$0.25 per share until Dec. 23, 2012. December 29, 2010, the company completed a non-brokered flow-through private placement for gross proceeds of C$2,000,000. The private placement was comprised of 6,666,668 units at a price of C$0.30 per unit. Each unit was comprised of one Common share and one-half of one Common share purchase warrant. Each whole warrant entitled the holder to purchase one additional Common share at C$0.40 per share until Dec. 29, 2012. In connection with the financing, the company paid cash finders' fees totaling C$160,000 and issued, as additional consideration, 533,333 non-transferable warrants entitling the holder to acquire the same number of Common shares at C$0.30 per share until Dec. 29, 2012. May 12, 2011, the company completed a bought deal private placement for gross proceeds of C$20,000,000. The private placement was comprised of 20,000,000 units at a price of C$1.00 per unit. Each unit was comprised of one Common share and one-half of one Common share purchase warrant. Each whole warrant entitled the holder to purchase one additional Common share at C$1.25 per share until May 13, 2013. In connection with the offering, the company paid the underwriters a total fee of C$1,200,000, and issued, as additional compensation, 1,200,000 non-transferable broker warrants, each broker warrant entitling the holder to acquire the same number of units at C$1.00 per unit until May 13, 2013.

RECENT DIVIDENDS: Common no par: None.

TRANSFER AGENT: Computershare Investor Services, Toronto, Ontario