 The Company has also agreed to issue common share purchase warrants to purchase 1,500,000 Shares of the Company. The Company has granted the investors an option to acquire up to an additional C10.125 million of units on the terms set forth above for a period of 30 days following the initial closing. The securities to be sold in this private placement have not been registered under the Securities Act of 1933, as amended the Securities Act, or applicable state securities laws, and accordingly may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. 