Investments History
Updated on March 3rd, 2011

Common shares: 50 229 787 common shares outstanding
 
Stock-based compensation options:

- 150 000 options at the exercise price of 0.58$ per share until May 10, 2011 
- 50 000 options at the exercise price of 0.74$ per share until May 21st, 2012 
- 1 037 500 options at the exercise price of 0.40$ per share until June 21st, 2012 
- 600 000 options at the exercise price of 0.60$ per share until February 12, 2013 
- 150 000 options at the exercise price of 0.60$ per share until March 3rd, 2013 
- 577 500 options at the exercise price of 1.25$ per share until July 7, 2013 
- 180 000 options at the exercise price of 0.74$ per share until May 21st, 2014
 
Warrants:
- 1 750 000 shares at the minimum price of 1.00$ per share until October 10, 2012¹ 
- 3 000 000 shares at the minimum price of 1.00$ per share until January 10, 2013¹ 
- 2 163 161 shares at the minimum price of 1.30$ per share until December 4, 2011

Note 1:
Original Expiry Date of Warrants: April 26, 2009 and July 10, 2009
New Expiry Date of Warrants: October 10, 2012 and January 10, 2013 (press release of April 25, 2009)

The Company may force the holder to exercise their warrants upon sending written notice to the holder (the "Exercise Notice" ) and this at least ten (10) business days before the date that the Company wishes to force the holder to exercise their warrants upon the occurrence of any events and on the terms and conditions herein after described:

a) if during a consecutive period of thirty (30) days of market transactions, the weighted average trading price of common stock of the Company on the TSX Venture Exchange (the "Exchange") is more than two dollars ($ 2 ,00) and the common share during this period, is trading at a price between two dollars ($ 2.00) and three dollars ($ 3.00) per share. In such cases, the Company may force the holder to exercise the warrant by reason of a price equal to one dollar and twenty-five cents ($ 1.25);

b) if, during a consecutive period of thirty (30) days of market transactions, the weighted average trading price of common stock of the Company exceeds three dollars ($ 3.00) and common stock during this period, is trading at a price between three dollars ($ 3.00) and four dollars ($ 4.00) per share. In such cases, the Company may force the holder to exercise the warrant by reason of a price equal to one dollar and fifty cents ($ 1.50);

c) if, during a consecutive period of thirty (30) days of market transactions, the weighted average trading price of common stock of the Company closes at a price above four dollars ($ 4.00) per share. In such cases, the Company may force the holder to exercise the warrant by reason of a price equal to one dollar and seventy-five cents ($ 1.75).

The holder has thirty (30) days following the date of receipt of the "Exercise Notice"   to exercise their warrants at a subscription price determined under the conditions described above.