TSX Venture Exchange Daily Bulletins



    VANCOUVER, Dec. 20 /CNW/ -

    
    TSX VENTURE COMPANIES

    BULLETIN TYPE: Notice to Issuers
    BULLETIN DATE: December 20, 2007
    Re: New Fees

    The Exchange is implementing certain amendments to its schedule of fees
which will come into effect on January 1, 2008. The changes relate to the
Exchange sustaining fees, CPC listing fees, financing fees and certain filing
fees. A copy of the revised schedule of fees is attached. The new schedule of
fees will apply to submissions received after December 31, 2007. The current
fee schedule will continue to apply to submissions received until that date.
    If you have questions regarding these changes, please contact:

    In British Columbia: Andrew Hancharyk, Phone: 604-602-6982
    Fax: 604-844-7502
    In Alberta: Roy Homyshin, Phone: 403-218-2826, Fax: 403-234-4211
    In Ontario: Tim Babcock, Phone: 416-365-2202, Fax: 416-365-2224.
    In Québec: Sylvain Martel, Phone: 514-788-2408, Fax: 514-788-2421.

                                  POLICY 1.3

                               SCHEDULE OF FEES

    -------------------------------------------------------------------------
    Application Type          Minimum(*)  Maximum    Fee Calculation
    -------------------------------------------------------------------------
                                  $          $
    -------------------------------------------------------------------------
    ANNUAL SUSTAINING FEE(1)
    -------------------------------------------------------------------------
    Issuers with a market       5,000      5,000     Flat fee
    capitalization of
    $5 million or less
    -------------------------------------------------------------------------
    Issuers with a market       5,000     14,500     $5,000 + $100 for each
    capitalization of greater                        $1,000,000 in market
    than $5 million and less                         capitalization or part
    than $100,000,000                                thereof above $5 million
    -------------------------------------------------------------------------
    Issuers with a market      16,000     50,000     $16,000 + $100 for each
    capitalization greater                           $1,000,000 in market
    than $100,000,000 and                            capitalization or part
    less than $440,000,000                           thereof above
                                                     $100 million
    -------------------------------------------------------------------------
    Issuers with market        50,000     90,000     $50,000 + $100 for each
    capitalization of                                $1,000,000 in market
    $440,000,000 or above                            capitalization or part
                                                     thereof above
                                                     $440 million
    -------------------------------------------------------------------------
    LISTING FEES
    -------------------------------------------------------------------------
    Application Fee-detailed    2,000      2,000     Payment to be applied
    preliminary assessment                           toward the formal filing
                                                     of the New Listing, CPC,
                                                     QT, RTO or COB
                                                     application
    -------------------------------------------------------------------------
    New Listing/RTO/QT/COB      7,500     30,000     $7,500 + 0.5% deemed
                                                     value of shares issued
    -------------------------------------------------------------------------
    CPC Listing ((*))          15,000     15,000     A non-refundable $5,000
    Listing fee                                      fee is payable with the
                                                     initial submission. The
                                                     $10,000 balance is
                                                     payable prior to listing
    -------------------------------------------------------------------------
    FINANCING FEES
    -------------------------------------------------------------------------
    Private Placement/Public      750     30,000     $750 + 0.5% of proceeds
    Offering of less than                            raised
    $10 million

    Private Placement/Public   30,000     50,000     $30,000 + 0.1% of the
    Offering greater than or                         proceeds exceeding
    equal to $10 million                             $10 million
    -------------------------------------------------------------------------
    Bonus Shares/Loans            500     30,000     $500 + 0.5% deemed value
                                                     of shares issued
    -------------------------------------------------------------------------
    FILING FEES
    -------------------------------------------------------------------------
    Stock Option plan review/     500     30,000     $0.001 per share
    administration                                   reserved for issuance
    -------------------------------------------------------------------------
    Shares for Debt               500     30,000     $500 + 0.5% of debt
    -------------------------------------------------------------------------
    Expedited Acquisition         500     30,000     $500 + 0.5% deemed value
                                                     of shares issued
    -------------------------------------------------------------------------
    Reviewable Transaction      1,000     30,000     $1,000 + 0.5% deemed
                                                     value of shares issued
    -------------------------------------------------------------------------
    Additional Listing          1,000     30,000     $1,000 + 0.5% deemed
    (Amalgamation, Merger)                           value of shares issued
    -------------------------------------------------------------------------
    Share Split                 1,000     30,000     $1,000 + 0.5% deemed
                                                     value of shares issued
    -------------------------------------------------------------------------
    Tier Movement-upward        2,500      2,500     Flat Fee
    movement
    -------------------------------------------------------------------------
    Consolidation               2,500      2,500     Flat Fee
    -------------------------------------------------------------------------
    Supplemental listing(2)     2,500      2,500     Flat Fee
    -------------------------------------------------------------------------
    Normal Course Issuer bid,   2,500      2,500     Flat Fee
    Stock Exchange Take-over
    bid or Issuer bid
    -------------------------------------------------------------------------
    Shareholder rights plan     2,500      2,500     Flat Fee
    -------------------------------------------------------------------------
    Alteration in Capital       2,500      2,500     Flat Fee
    -------------------------------------------------------------------------
    Escrow amendments,            750        750     Flat Fee
    transfers & releases
    -------------------------------------------------------------------------
    Warrant & Convertible         750        750     Flat Fee
    Debt extensions/price
    amendments
    -------------------------------------------------------------------------
    Stock Option amendment        500        500     Flat Fee
    -------------------------------------------------------------------------
    Investor Relations            500        500     Flat Fee
    Agreements
    -------------------------------------------------------------------------
    Name change                   500        500     Flat Fee
    (no consolidation)
    -------------------------------------------------------------------------
    Management agreements,        500        500     Flat Fee
    employment & Admin
    contracts
    -------------------------------------------------------------------------
    Reinstatement for             500        500     Flat Fee
    Suspended Issuers
    -------------------------------------------------------------------------
    Processing(3)                 500
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    NO CHARGE
    -------------------------------------------------------------------------
    Change in Corporate Jurisdiction
    -------------------------------------------------------------------------
    Change in Filing Office
    -------------------------------------------------------------------------
    Policy waiver
    -------------------------------------------------------------------------
    Stock Option Grants
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    (*)All minimum fees, plus applicable taxes, are non-refundable and must
    be submitted with the initial documentation prior to TSX Venture Exchange
    commencing work. The balance of the required listing fee is not to be
    submitted until requested by TSX Venture Exchange at the conclusion of
    the transaction. The non-refundable fee for a CPC submission is $5,000.
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    NOTES:
    -------------------------------------------------------------------------
    (1) Calculated based on the market capitalization of the Issuer as at
        December 31 of the year prior to the billing period. If an Issuer
        fails to submit its sustaining fee by the required remittance date,
        as prescribed by the Exchange, an additional monthly fee of 5% of the
        outstanding sustaining fee will be charged to the Issuer for each
        month that the sustaining fee remains outstanding.
    (2) This fee is normally applicable to a supplemental listing of
        warrants. A supplemental listing of other securities undertaken in
        conjunction with a Private Placement or Public Offering will be
        subject to the financing fees applicable to Private Placements or
        Public Offerings.
    (3) This processing fee may be charged in various circumstances,
        including where an Issuer fails to file an application in respect of
        a transaction, in accordance with Exchange Requirements. In those
        circumstances, in addition to any other fee payable in regard to that
        transaction, the Issuer will be required to pay a processing fee of
        $500 for each missed transaction filing.
    (4) The Exchange may impose fees to recover its costs, including the
        following:
        (a) The Exchange will require reimbursement of out-of-pocket costs
            incurred in the context of the filing of Personal Information
            Forms (PIFs) for
            (i)   the approval of a new Insider, except where the Person
                  becomes an Insider in the context of a transaction (i.e.
                  Private Placement, QT, RTO, COB etc.) for which fees are
                  otherwise prescribed by this Policy, or
            (ii)  the approval of an appointment of a Person carrying out
                  Investor Relations Activities (collectively, the
                  Reimbursement Circumstances.)
            If there are Reimbursement Circumstances, a filer must, in
            addition to any other fees payable pursuant to this Policy,
            submit a fee of $200 for each new Insider or Person carrying out
            Investor Relations Activities.
        (b) The Exchange may levy a charge to cover expenses that it has
            incurred relating to:
            (i)   due diligence, research or assessment procedures which the
                  Exchange deems necessary in connection with any notice or
                  application that has been filed or that, in the opinion of
                  the Exchange, ought to have been filed in accordance with
                  Exchange Requirements,
            (ii)  a review that the Exchange deems necessary, as to the
                  suitability of any Person to be involved with an Issuer or
                  an associate or affiliate of an Issuer, or
            (iii) any review or investigation that the Exchange deems
                  necessary respecting the business or affairs of an Issuer
                  or any Person involved or to be involved with an Issuer.
    -------------------------------------------------------------------------
    (5) The Exchange reserves the right to charge additional fees in
        extraordinary circumstances where an inordinate amount of time is
        required to process an application or a filing.
    -------------------------------------------------------------------------
    (6) 5% GST is to be added to all fees.
    -------------------------------------------------------------------------
    (7) Calculation of fees for listing transactions includes the exercise of
        all warrants or conversion of any convertible securities.
    -------------------------------------------------------------------------
    (8) The basis used to calculate certain fees are outlined in further
        detail in Appendix 1A- Notice of Billing Practices.
    -------------------------------------------------------------------------

                                 APPENDIX 1A

                         NOTICE OF BILLING PRACTICES

    The following summarizes the billing practices of the Exchange. Headings
are intended to coincide as closely as possible to the relevant items referred
to in Policy 1.3 - Schedule of Fees ("Policy 1.3"). The same terms are used in
this Notice as are used in Policy 1.3.

    DEFINITIONS
    -----------

    In this Notice of Billing Practices:

    1.  A "tranche" means an offering of securities made as a Private
        Placement. The offering generally will close in stages over a period
        of time, with all closings subject to the original Private Placement
        terms.

    2.  "Deemed value per share" means the value of the share as accepted by
        the Exchange. This may be the market price, discounted market price
        or any other price set by the issuer that is acceptable to the
        Exchange.

        Where the Issuer has not set the price per share, the fee calculation
        will be based on the following, as at the date of the news release
        announcing the share issuance:

        (a)   the discounted market price, where the shares are subject to a
              hold period; or
        (b)   the market price, where the shares are not subject to a hold
              period.

    LISTING FEES
    ------------

    1.  Application Fee - Detailed Preliminary Assessment

        No fee

        No fee will be charged for a news release review, regular 1-2 hour
        pre-filing meeting or a non-detailed review of technical reports and
        financial statements.

        Early Review

        As prescribed by Policy 1.3, an early review processing fee of $2,000
        will be charged, with payment to be applied towards the formal
        filing. This fee includes:

        (a)   any PIF reviews,
        (b)   detailed review of an internal technical report (i.e.,
              geological or engineering report);
        (c)   feasibility study review,
        (d)   detailed review of financial statements or forecasts, or
        (e)   unusual policy waiver requests.

        This fee will be applied towards the minimum $7,500 fee payable upon
        an initial submission in respect of a New Listing/RTO/QT/COB.

        Out-of-Pocket Expenses

        Where, in the context of a preliminary assessment, an external review
        of a technical report is required, or a background search on a
        Personal Information Form ("PIF") is required to be undertaken
        outside of Canada, an extra fee will be charged to cover the
        Exchange's out of pocket costs.

    2.  New Listing, RTO, QT or COB

        Maximum Fee

        The maximum fee of $30,000 will include all related submissions such
        as stock option grants, concurrent financings, and name changes.

    3.  CPC Listing

        Initial Submission

        The initial submission fee for a CPC is $5,000, which is non-
        refundable.

        CPC Combination Not in Conjunction with a QT

        Where a CPC is proposing to combine with one or more CPCs, and is not
        undertaking the combination in conjunction with a QT, the listing fee
        will be $2,500 per CPC.

        CPCs Effecting a QT Involving Another Public Issuer

        Where a CPC participates in a Private Placement with an operating
        public issuer, which distributes its securities to the CPC
        securityholders, the full Private Placement fee, as prescribed by
        Policy 1.3, will be charged to that operating issuer and each CPC
        will be charged a fee of $2,500.

    FINANCING FEES
    --------------

    1.  Private Placements/Public Offering

        Private Placements Involving Issuance of Multiple Tranches of
        Securities

        For the first tranche of securities issued, the charge will be a flat
        fee of $750 plus 0.5% of the gross proceeds raised for that tranche.

        For a second and subsequent tranche of securities, no flat fee will
        be charged. The basis of the fee will be:

        (a)   0.5% of the gross proceeds raised pursuant to those tranches if
              the aggregate proceeds raised through those tranches is less
              than $10 million; or
        (b)   $30,000 plus 0.1% of gross proceeds raised, in excess of
              $10 million, less fees paid for any earlier tranche, if the
              aggregate proceeds raised through these tranches is equal to or
              greater than $10 million,

        The Exchange will issue a Bulletin when each tranche closes with
        reference being made as to the first, second or any subsequent
        tranche, as applicable. Applicable fees for each tranche are required
        to be paid before a Bulletin will be issued.

        Private Placements Effected Concurrently but at Different Prices

        Where an Issuer simultaneously announces different Private Placements
        to be effected at different prices and possibly over different
        timeframes, such Private Placements will be treated separately and
        billed accordingly, as prescribed by Policy 1.3.

        Private Placements of Special Warrants

        The standard Private Placement fee, as prescribed by Policy 1.3,
        based on the gross proceeds raised, will be applied to the equity
        security (i.e., common share) component, issuable under the special
        warrant offering.

        Warrants

        Warrants will not be included in the fee calculation for financings
        related to Private Placements or non-IPO prospectus offerings.

        In respect to listings transactions, the calculation of fees will
        include the deemed exercise of all warrants or conversion of any
        convertible securities, as prescribed by the notes to Policy 1.3. The
        fees for all other transactions involving the issuance of warrants
        will be calculated on the basis of 50% of the warrants being offered
        using the market price of the underlying securities, (not the
        exercise price), at the date of the news release announcing the
        transaction.

        Finder's Fees

        Where proceeds are raised pursuant to a Private Placement and a
        finder's fee is payable, the fee calculation for the transaction will
        include, 0.5% of the deemed value of the shares, that are being
        issued for the finder's fee, in addition to the Private Placement
        fee. Any warrants included in the finder's fee will be excluded in
        calculating the Private Placement fee.

        Short Form Offering Document and Rights Offering

        An offering made pursuant to a short form offering document, a rights
        offering circular or a rights offering prospectus will be treated, in
        the same fashion as a Private Placement and will require payment on
        the same basis as the Private Placement/Public Offering fee, as
        prescribed by Policy 1.3.

    2.  Bonus Shares/Loans

        Bonus Shares/Loans

        This fee is based on the deemed value of the shares being issued, not
        the value of the loan. If warrants are being issued, the fee
        calculation will be based upon 50% of the warrants to be issued using
        the market price at the date of the news release, rather than the
        exercise price of the warrants.

        If there are no warrants being issued and no conversion features
        apply to any securities being issued, the minimum processing fee of
        $500 will be applied.

    FILING FEES
    -----------

    1.  Stock Option Plans

        Employee Share Purchase Plans

        Fees will be calculated in a similar fashion to a stock option plan
        as prescribed by Policy 1.3, whereby the fee will be based upon
        $0.001 per security reserved for issuance, with a minimum fee of
        $500.

        Issuers will fall under two categories:

        i)  Issuers with a TSX Venture Exchange approved Plan in place,
            should use the following formula to determine the amount of fee
            payable:

            -----------------------------------------------------------------
                       Number of shares issuable under the Plan as
                       per the new submission
            -----------------------------------------------------------------
            Minus      Number of shares issuable under the Plan as
                       per the previous Exchange approved Plan
            -----------------------------------------------------------------
            Add        Number of shares issued pursuant to the
                       exercise of options since the previous
                       Exchange approved Plan
            -----------------------------------------------------------------
                       Shares for which the fee is applicable
            -----------------------------------------------------------------
            Multiply   Applicable per share rate                      $0.001
            -----------------------------------------------------------------
                       Pre-GST Fee (minimum of $500 but not to
                       exceed $30,000)                                $
            -----------------------------------------------------------------
            Add        GST (5%)                                       $
            -----------------------------------------------------------------
                       Total Fee Payable                              $
            -----------------------------------------------------------------

        ii) Issuers without a Plan, that were paying fees upon filing notice
            of grant, should use the following formula to determine the
            amount of fee payable:

            -----------------------------------------------------------------
                       Number of shares issuable under the Plan
                       as per the new submission
            -----------------------------------------------------------------
            Minus      Number of options outstanding as of the last
                       notice of grant where the Company paid fees
            -----------------------------------------------------------------
            Add        Options granted after the last notice of
                       grant where the Company paid fees
            -----------------------------------------------------------------
            Add        Options exercised after the last notice of
                       grant where the Company paid fees
            -----------------------------------------------------------------
                       Shares for which the fee is applicable
            -----------------------------------------------------------------
            Multiply   Applicable per share rate                      $0.001
            -----------------------------------------------------------------
                       Pre-GST Fee (minimum of $500 but not to
                       exceed $30,000)                                $
            -----------------------------------------------------------------
            Add        GST (5%)                                       $
            -----------------------------------------------------------------
                       Total Fee Payable                              $
            -----------------------------------------------------------------

        Expired and cancelled stock options are not included in the fee
        calculations above.

        We recommend that issuers file the above information with their next
        Plan filing.

        Issuers are reminded that Policy 4.4 requires that all amendments to
        a Plan be filed for the Exchange's approval, including rolling Plans,
        which are to be filed annually for the Exchange's approval.

    2.  Shares for Debt

        Shares for Services Involving Multiple Tranches of Securities

        Fees are charged on the same basis as shares for debt transactions,
        as prescribed by Policy 1.3.

        The fee will be calculated on the basis of a flat fee of $500 at the
        initial filing date plus 0.5% of the deemed value of the shares
        issued for each tranche.

        For the first tranche of securities issued, the fee will consist of a
        flat fee of $500 plus 0.5% of the deemed value of the shares issued
        for that tranche.

        For a second and subsequent tranche of securities, no flat fee will
        be charged. The basis of the fee will be 0.5% of the deemed value of
        the shares issued pursuant to those tranches.

        On a periodic basis (as practical for the specifics of the
        transaction, for example quarterly) the Issuer may be required to
        submit a summary of securities issued with respect to the
        transaction, including the applicable fee.  In any event, the
        Exchange would expect that any shares for services arrangement would
        not extend beyond a twelve-month period.

        If the services agreement is for a short term, the contract will be
        billed in advance with periodic reporting to be made to the Exchange
        as to the securities issued pursuant to the agreement.

    3.  Expedited Acquisition
        Reviewable Transaction

        Deemed Value for Property Transactions

        The deemed value of shares issued takes into account all shares
        issuable, whether initially and/or over a period of time, at the
        deemed value per share. In cases where warrants are being issued (see
        above) the fees will be calculated based upon 50% of the warrants to
        be issued using the market price at the date of the news release,
        rather than the exercise price of the warrants. No fees will be
        refunded if the warrants are not exercised.

        Finder's Fees

        In regard to transactions, other than Private Placements (i.e.,
        acquisitions, etc.) where a finder's fee is payable, the fee
        calculation for these transactions will include both 0.5% of the
        deemed value of the shares, being issued as finder's fees, and 50% of
        any warrants being issued as finder's fees.

        Acquisitions and Concurrent Financings

        The fees on these transactions, which do not include a New Listing,
        RTO, QT or COB, will be charged separately with each transaction
        being subject to the applicable fee as prescribed by Policy 1.3.

        Geological Review

        No fee will be charged for the review of a geological report filed in
        the context of a Reviewable Transaction.

    4.  Additional Listing (Amalgamation, Merger)

        Amalgamations/Mergers of Private and Public Issuers

        Where one or more private issuers and a public issuer are undertaking
        an amalgamation, merger or similar transaction, the fee will be based
        on the amalgamation fee, as prescribed by Policy 1.3.

        If the transaction is an RTO, QT or COB, the RTO, QT or COB fee will
        be applied to the transaction, rather than the amalgamation fee.

        Amalgamations/Mergers of Public Issuers

        Where a public issuer and one or more other public issuers are
        undertaking an amalgamation, merger or other similar transaction, the
        fee will be $2,500 per issuer.

    5.  Consolidation and Name Change

        For a name change only, the applicable fee is $500.
        For a consolidation only, the applicable fee is $2,500.

        Where a consolidation is combined with a name change, the applicable
        fee will be the same as if the filing involved only a consolidation,
        which will be $2,500.

    6.  Supplemental Listing

        This fee applies to issuers that are already listed on the Exchange
        and are listing Supplemental Securities, as defined in Policy 2.8 -
        Supplemental Securities ("Policy 2.8").

        Issuers not interlisted on the Exchange and listed on a Senior
        Market, as defined in Policy 2.8, listing a class of securities on
        the Exchange, will be required to pay a New Listing fee.

    7.  Investor Relations Agreements With Personal Information Form Reviews

        The flat fee of $500 is a minimum processing fee for review of the
        Investor Relations Agreement. There will, however, be a recovery
        charge imposed for PIF background searches; although a recovery
        charge will only apply if Market Regulation Services Inc. ("RS")
        performs a new or updated background search.

        For Tier 1 issuers that are not required to file Investor Relations
        Agreements for review, the flat fee will not be charged and only
        recovery charges for PIF background searches will be imposed.

        Reference should be made to Note 4 of Policy 1.3, which outlines the
        recovery charge for background searches.

    8.  Reinstatement for Suspended Issuers

        Geological Review for Reinstatement Transaction

        There will be no extra fee for review of a geological or any other
        report in the context of a reinstatement if a transaction submission
        (i.e., relating to a RTO, COB, Reviewable Transaction) has been
        provided together with the applicable minimum fee.

        If there is no transaction submission, a report review fee of $500 to
        $1,000 will be applied, depending on the complexity of the review.
        This review fee will be applied towards the minimum fee payable upon
        any subsequent submission for the related transaction (i.e., relating
        to the RTO, COB, Reviewable Transaction).

        Reinstatement for NEX Issuers

        The reinstatement fee for a NEX Issuer will be consistent with the
        reinstatement fee of $500 applicable to Exchange Issuers that have
        been suspended, as prescribed by Policy 1.3.

    9.  Miscellaneous

        TSX Issuer Delisting and Listing on the Exchange or NEX

        Where a TSX listed issuer, following the completion of a COB or RTO,
        applies to list on the Exchange, the fee charged will be the COB or
        RTO fee, as prescribed by Policy 1.3.

        Where a TSX issuer applies to otherwise list on the Exchange, the fee
        charged will be the New Listing fee as prescribed by Policy 1.3.

        Where a TSX issuer applies to list on NEX, the fee charged will be
        $7,500, which is the minimum fee portion of the New Listing Fee, as
        prescribed by Policy 1.3.

        GST

        As prescribed by Policy 1.3, all fees in this Notice are subject to
        the 5% GST, which must be added to all fees, unless the filer, prior
        to or at the time of submission of any fees, provides satisfactory
        evidence to the Exchange in accordance with Schedule A as prescribed
        under the Excise Tax Act (Canada), as to proof of non-residence and
        non-registration for GST/HST purposes.

    TYPE DE BULLETIN : Avis aux émetteurs
    DATE DU BULLETIN : Le 20 décembre 2007
    Objet : Révision des droits

    La Bourse apporte certaines modifications à son barème des droits qui
prendront effet le 1er janvier 2008. Les révisions ont trait aux droits de
maintien de la Bourse, aux droits payables pour l'inscription d'une SCD, pour
les financements privés et par prospectus et certains droits de dépôt. Vous
trouverez ci-joint un exemplaire du barème des droits révisé. Le nouveau
barème des droits s'appliquera aux demandes reçues après le 31 décembre 2007.
Le barème actuel continue de s'appliquer aux demandes reçues jusqu'au 31
décembre 2007.
    Veuillez communiquer avec les personnes suivantes si vous avez des
questions au sujet de ces modifications :

    En Colombie Britannique : Andrew Hancharyk, Téléphone : (604) 602-6982
    Télécopieur : (604) 844-7502
    En Alberta : Roy Homyshin, Téléphone : 403-218-2826, Télécopieur :
    403-234-4211
    En Ontario : Tim Babcock, Téléphone : 416-365-2202, Télécopieur :
    416-365-2224.
    Au Québec : Sylvain Martel, Téléphone : 514-788-2408, Fax : 514-788-2421.

                                POLITIQUE 1.3

                              BAREME DES DROITS

    -------------------------------------------------------------------------
    Type de demande           Minimum(*)  Maximum    Calcul des droits
    -------------------------------------------------------------------------
                                  $          $
    -------------------------------------------------------------------------
    DROITS ANNUELS DE MAINTIEN
    DE L'INSCRIPTION(1)
    -------------------------------------------------------------------------
    Emetteur ayant une          5 000      5 000     Droits fixes
    capitalisation boursière
    de 5 000 000 $ ou moins
    -------------------------------------------------------------------------
    Emetteur ayant une          5 000     14 500     5 000 $ + 100 $ par
    capitalisation boursière                         tranche totale ou
    supérieure à 5 000 000 $                         partielle de 1 000 000 $
    et inférieure à                                  de capitalisation
    100 000 000 $                                    boursière au-delà de
                                                     5 000 000 $
    -------------------------------------------------------------------------
    Emetteur ayant une         16 000     50 000     16 000 $ + 100 $ par
    capitalisation boursière                         tranche totale ou
    supérieure à 100 000 000 $                       partielle de 1 000 000 $
    et inférieure à                                  de capitalisation
    440 000 000 $                                    boursière au-delà de
                                                     100 000 000 $
    -------------------------------------------------------------------------
    Emetteur ayant une         50 000     90 000     50 000 $ + 100 $ par
    capitalisation boursière                         tranche totale ou
    égale ou supérieure à                            partielle de 1 000 000 $
    440 000 000 $                                    de capitalisation
                                                     boursière au-delà de
                                                     440 000 000 $
    -------------------------------------------------------------------------
    DROITS D'INSCRIPTION
    -------------------------------------------------------------------------
    Droits relatifs à une       2 000      2 000     Montant à déduire des
    demande d'évaluation                             droits applicables au
    préliminaire détaillée                           dépôt de la demande de
                                                     nouvelle inscription, de
                                                     SCD, d'opération
                                                     admissible, de prise de
                                                     contrôle inversée ou de
                                                     changement dans les
                                                     activités
    -------------------------------------------------------------------------
    Nouvelle inscription/       7 500     30 000     7 500 $ + 0,5 % de la
    Prise de contrôle                                valeur réputée des
    inversée/Opération                               actions émises
    admissible/Changement
    dans les activités
    -------------------------------------------------------------------------
    Inscription de SCD(*)      15 000     15 000     Un droit de 5 000 $ non-
    droits d'inscription                             remboursable est payable
                                                     au moment de la demande
                                                     initiale. Le solde de
                                                     10 000 $ est payable
                                                     avant l'inscription.
    -------------------------------------------------------------------------
    DROITS DE FINANCEMENT
    -------------------------------------------------------------------------
    Placement privé/Appel         750     30 000     750 $ + 0,5 % du produit
    public à l'épargne de
    moins de 10 000 000 $

    Placement privé/Appel      30 000     50 000     30 000 $ plus 0,1 % du
    public à l'épargne de                            produit excédant
    10 000 000 $ ou plus                             10 millions $
    -------------------------------------------------------------------------
    Prime en actions/Prêt         500     30 000     500 $ + 0,5 % de la
                                                     valeur réputée des
                                                     actions émises
    -------------------------------------------------------------------------
    DROITS DE DEPOT
    -------------------------------------------------------------------------
    Examen/administration         500     30 000     0,001 $ par action
    d'un régime d'options                            réservée pour émission
    d'achat d'actions
    -------------------------------------------------------------------------
    Actions émises en             500     30 000     500 $ + 0,5 % de la
    règlement d'une dette                            dette
    -------------------------------------------------------------------------
    Acquisition accélérée         500     30 000     500 $ + 0,5 % de la
                                                     valeur réputée des
                                                     actions émises
    -------------------------------------------------------------------------
    Opération sujette à         1 000     30 000     1 000 $ + 0,5 % de la
    examen                                           valeur réputée des
                                                     actions émises
    -------------------------------------------------------------------------
    Inscription additionnelle   1 000     30 000     1 000 $ + 0,5 % de la
    (regroupement, fusion)                           valeur réputée des
                                                     actions émises
    -------------------------------------------------------------------------
    Fractionnement d'actions    1 000     30 000     1 000 $ + 0,5 % de la
                                                     valeur réputée des
                                                     actions émises
    -------------------------------------------------------------------------
    Changement de groupe -      2 500      2 500     Droits fixes
    Migration au groupe
    supérieur
    -------------------------------------------------------------------------
    Regroupement                2 500      2 500     Droits fixes
    (consolidation) d'actions
    -------------------------------------------------------------------------
    Inscription                 2 500      2 500     Droits fixes
    supplémentaire(2)
    -------------------------------------------------------------------------
    Offre publique de rachat    2 500      2 500     Droits fixes
    dans le cours normal
    des activités, offre
    publique d'achat par
    l'intermédiaire de la
    Bourse ou offre publique
    de rachat d'actions
    -------------------------------------------------------------------------
    Régime de droits des        2 500      2 500     Droits fixes
    actionnaires
    -------------------------------------------------------------------------
    Modification du capital     2 500      2 500     Droits fixes
    -------------------------------------------------------------------------
    Modification, transfert       750        750     Droits fixes
    et libération de titres
    entiercés
    -------------------------------------------------------------------------
    Prolongation/modification     750        750     Droits fixes
    du prix de bons de
    souscription et de
    débentures convertibles
    -------------------------------------------------------------------------
    Modification d'options        500        500     Droits fixes
    d'achat d'actions
    -------------------------------------------------------------------------
    Convention de relations       500        500     Droits fixes
    avec les investisseurs
    -------------------------------------------------------------------------
    Changement de dénomination    500        500     Droits fixes
    (sans regroupement)
    -------------------------------------------------------------------------
    Contrats de gestion,          500        500     Droits fixes
    d'emploi et
    d'administration
    -------------------------------------------------------------------------
    Réadmission à la              500        500     Droits fixes
    négociation de titres
    dont la négociation a
    été suspendue
    -------------------------------------------------------------------------
    Traitement(3)                 500
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    SANS FRAIS
    -------------------------------------------------------------------------
    Changement du territoire
    de la société
    -------------------------------------------------------------------------
    Changement de bureau
    de dépôt
    -------------------------------------------------------------------------
    Demande de dispense
    -------------------------------------------------------------------------
    Octrois d'options d'achat
    d'actions
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    (*)Le montant minimal des droits, majoré des taxes applicables, n'est pas
    remboursable et doit être acquitté lors du dépôt des documents initiaux,
    préalablement à l'analyse effectuée par la Bourse de croissance TSX. Le
    solde des droits d'inscription doit être acquitté au moment de la clôture
    de l'opération à la demande de la Bourse. Les droits non remboursables
    payables lors du dépôt d'une demande de SCD sont de 5 000$
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    REMARQUES :
    (1) Ces droits sont calculés selon la capitalisation boursière de
        l'émetteur au 31 décembre de l'année précédant la période de
        facturation. Si l'émetteur n'acquitte pas ses droits de maintien de
        l'inscription dans les délais prescrits par la Bourse, des frais
        additionnels de 5 % du montant en souffrance lui seront facturés
        mensuellement pour chaque mois où l'émetteur est en défaut de
        paiement des droits de maintien.
    (2) Ces droits s'appliquent en général à une inscription supplémentaire
        de bons de souscription. Les inscriptions supplémentaires d'autres
        titres effectuées dans le cadre d'un placement privé ou d'un appel
        public à l'épargne sont assujetties aux droits de financement
        afférents aux placements privés ou aux appels publics à l'épargne.
    (3) Ces droits sont exigibles pour le traitement de divers cas, dont le
        défaut par l'émetteur de présenter, tel que prescrit par la Bourse,
        une demande à l'égard d'une opération donnée. En sus des droits
        afférents à l'égard de l'opération, l'émetteur devra acquitter des
        droits de traitement de 500 $ par dépôt omis.
    (4) La Bourse pourra imposer des droits afin de recouvrer des frais
        qu'elle engage, notamment : :
        (a) dans le cadre du dépôt de formulaires de renseignements
            personnels concernant :
            (i)   l'approbation d'une personne à titre d'initié, sauf si la
                  personne devient un initié dans le cadre d'une opération
                  (c. à d. un placement privé, une opération admissible, une
                  prise de contrôle inversée, un changement dans les
                  activités, etc.) dont des droits seraient exigibles aux
                  termes de la présente politique;
            (ii)  l'approbation de la nomination d'une personne chargée des
                  relations avec les investisseurs (collectivement, les
                  circonstances donnant droit à remboursement).
            Dans des circonstances donnant droit à remboursement, l'émetteur
            doit acquitter, en plus de tout autre droit exigible aux termes
            de la présente politique, des droits de 200 $ par nouvel initié
            ou nouvelle personne chargée des relations avec les
            investisseurs.
        (b) La Bourse pourrait imposer des droits afin de recouvrer les frais
            qu'elle engage en ce qui concerne :
            (i)   un contrôle diligent, des recherches ou une évaluation que
                  la Bourse juge nécessaires relativement à une demande ou à
                  un avis qui a été déposé ou qui aurait dû l'être,
                  conformément aux exigences de la Bourse,
            (ii)  un examen que la Bourse juge nécessaire afin de déterminer
                  l'admissibilité de toute personne devant assumer des
                  fonctions au sein de l'émetteur ou d'une personne qui a un
                  lien avec lui ou d'un membre du même groupe que celui ci,
            (iii) un examen ou une enquête que la Bourse juge nécessaire à
                  l'égard des activités ou des affaires d'un émetteur ou de
                  toute personne qui assume ou doit assumer des fonctions au
                  sein d'un émetteur.
    -------------------------------------------------------------------------
    (5) La Bourse se réserve le droit d'exiger des frais supplémentaires dans
        des circonstances inhabituelles lorsque le temps requis pour traiter
        une demande ou un dépôt est démesuré.
    -------------------------------------------------------------------------
    (6) La TPS de 5 % s'ajoute aux droits.
    -------------------------------------------------------------------------
    (7) Le calcul des droits en fonction du nombre d'actions émises suppose
        l'exercice de tous les bons de souscription ou la conversion de tous
        les titres convertibles.
    -------------------------------------------------------------------------
    (8) Le mode de calcul de certains droits est énoncé plus en détail dans
        l'Annexe 1A - Avis concernant la facturation.
    -------------------------------------------------------------------------

                                  ANNEXE 1A

                       AVIS CONCERNANT LA FACTURATION

    Un résumé de la méthode de facturation de la Bourse est présenté ci-après.
Les en-têtes se rapprochent le plus possible des éléments pertinents énoncés
dans la politique 1.3 - Barème des droits (la " politique 1.3 "). Les termes
utilisés dans le présent avis sont les mêmes que ceux utilisés dans la
politique 1.3.

    DEFINITIONS
    -----------

    Les définitions suivantes sont utilisées dans le présent avis :

    1.  "tranche" Un placement de titres effectué sous forme de placement
        privé. En règle générale, la clôture du placement a lieu
        graduellement et en étapes, dont chacune est assujettie aux modalités
        initiales du placement privé.

    2.  "valeur réputée d'une action" La valeur d'une action acceptée par la
        Bourse. Il peut s'agir du cours, du cours escompté ou d'un autre prix
        établi par l'émetteur et jugé acceptable par la Bourse.

        Si l'émetteur n'a pas établi de prix par action, le calcul des droits
        sera fondé sur les prix suivants, à la date du communiqué annonçant
        l'émission d'actions :

        (a)   le cours escompté, lorsque les actions sont assujetties à une
              période de détention;
        (b)   le cours, lorsque les actions ne sont pas assujetties à une
              période de détention.

    DROITS D'INSCRIPTION
    --------------------

    1.  Droits reliés à une demande d'évaluation préliminaire détaillée

        Aucuns droits

        Aucuns droits ne sont exigibles relativement à l'examen d'un
        communiqué, aux réunions usuelles d'une ou deux heures préalables aux
        dépôts et à l'examen non détaillé de rapports techniques et d'états
        financiers.

        Examen préliminaire

        Comme l'indique la politique 1.3, des droits de 2 000 $ seront exigés
        pour les examens préliminaires. Le paiement de ces droits sera
        retranché des droits de dépôt usuels. Ces droits seront exigés à
        l'égard de ce qui suit :

        (a)   examen de formulaires de renseignements personnels;
        (b)   examen détaillé de rapports techniques internes (p.ex. un
              rapport d'étude géologique);
        (c)   examen d'études de faisabilité;
        (d)   examen détaillé d'états financiers ou de prévisions
              financières;
        (e)   demandes de dispense de nature inhabituelle.

        Ces droits seront déduits des droits de 7 500 $ payables au moment du
        dépôt d'une première demande à l'égard d'une nouvelle inscription,
        d'une prise de contrôle inversée, d'une opération admissible ou d'un
        changement dans les activités.

        Remboursement des frais engagés

        Si, dans le cadre d'une évaluation préliminaire, un rapport technique
        doit être examiné par un expert externe ou une enquête doit être
        effectuée à l'extérieur du Canada afin de vérifier des renseignements
        figurant sur un formulaire de renseignements personnels, la Bourse a
        prévu des droits additionnels pour le recouvrement des frais engagés.

    2.  Nouvelle inscription, prise de contrôle inversée, opération
        admissible ou changement dans les activités

        Montant maximal des droits

        Le montant maximal des droits s'élève à 30 000 $ incluant l'ensemble
        des demandes connexes, notamment à l'égard des octrois d'options
        d'achat d'actions, des financements simultanés et des changements de
        dénomination.

    3.  Inscriptions de SCD

        Demande initiale

        Les droits pour une demande initiale pour une SCD s'élèvent à 5 000 $
        et ne sont pas remboursables.

        Regroupement de SCD autrement que dans le cadre d'une opération
        admissible

        Lorsqu'une SCD projette de se regrouper avec une ou plusieurs SCD
        autrement que dans le cadre d'une opération admissible, les droits
        d'inscription s'établissent à 2 500 $ par SCD.

        SCD réalisant une opération admissible à laquelle participe une autre
        société ouverte

        Lorsqu'une SCD participe à un placement privé dans le cadre duquel
        une société ouverte en exploitation place ses titres auprès des
        porteurs de titres de la SCD, la totalité des droits applicables aux
        placements privés seront facturés à l'émetteur en exploitation et des
        droits de 2 500 $ seront facturés à chaque SCD, tel que prescrit par
        la politique 1.3.

    DROITS DE FINANCEMENT
    ---------------------

    1.  Placements privés/appels publics à l'épargne

        Placements privés comportant l'émission de plusieurs tranches de
        titres

        La Bourse exige pour la première tranche de titres émis des droits
        fixes de 750 $ plus des droits équivalant à 0,5 % du produit brut
        tiré de cette tranche.

        Aucuns droits fixes ne seront exigés pour les tranches subséquentes,
        les droits s'établissant comme suit :

        (a)   0,5 % du produit brut tiré de ces tranches lorsque le produit
              total de ces tranches est inférieur à 10 millions $; ou

        (b)   30 000 $ plus 0,1 % du produit brut en excédant de 10 millions
              de $, moins les droits payés lors des tranches précédentes
              lorsque le produit total tiré de ces tranches est égal ou
              supérieur à 10 millions $.

        La Bourse publiera un bulletin à la clôture de l'émission de chaque
        tranche, en indiquant s'il s'agit de la première tranche, de la
        deuxième tranche, et ainsi de suite. Un bulletin sera publié
        uniquement lorsque les droits applicables eu égard à chacune des
        tranches auront été acquittés.

        Placements simultanés à des prix différents

        Lorsqu'un émetteur annonce qu'il entend réaliser des placements
        privés distincts à des prix différents et peut-être même à des
        moments différents, ces placements privés seront considérés distincts
        et les droits exigibles pour chacun de ces placements s'appliqueront,
        selon le barème prévu par la politique 1.3.

        Placements privés de bons de souscription spéciaux

        Les droits afférents à un placement privé prévus par la politique
        1.3, selon le produit brut réalisé, s'appliqueront au titre de
        participation (p. ex. l'action ordinaire) devant être émis dans le
        cadre du placement de bons de souscription spéciaux.

        Bons de souscription

        Les bons de souscription seront exclus du calcul des droits afférents
        aux financements réalisés dans le cadre de placements privés et de
        placements par voie de prospectus qui ne sont pas des premiers appels
        publics à l'épargne.

        Quant aux opérations d'inscription, le calcul des droits tiendra
        compte de l'exercice réputé de la totalité des droits de souscription
        ou de la conversion de tous les titres convertibles, comme il est
        prévu aux notes au tableau de la politique 1.3. Les droits afférents
        aux autres opérations comprenant l'émission de bons de souscription
        seront calculés en fonction de 50 % des bons de souscription placés,
        en utilisant le cours des titres sous-jacents (et non le prix
        d'exercice) à la date de publication du communiqué annonçant
        l'opération.

        Honoraires d'intermédiation

        Lorsqu'un produit est généré dans le cadre d'un placement privé et
        que des honoraires d'intermédiation sont payables, le calcul des
        droits afférents à l'opération comprendra 0,5 % de la valeur réputée
        des actions émises en règlement des honoraires d'intermédiation, en
        plus des droits afférents au placement privé. Les bons de
        souscription inclus dans les honoraires d'intermédiation seront
        exclus du calcul des droits afférents au placement privé.

        Document d'offre simplifié et placement de droits

        Un placement effectué aux termes d'un document d'offre simplifié,
        d'une notice d'offre de droits ou d'un prospectus d'offre de droits
        sera traité comme un placement privé et les droits afférents aux
        placements privés et aux appels publics à l'épargne prévus par la
        politique 1.3 s'appliqueront.

    2.  Primes en actions/prêts

        Primes en actions/prêts

        Les droits sont fondés sur la valeur réputée des actions émises et
        non sur la valeur du prêt. Si des bons de souscription sont émis, les
        droits seront calculés en fonction de 50 % de la valeur des bons de
        souscription émis selon le cours en vigueur à la date de publication
        du communiqué, plutôt qu'en fonction du prix d'exercice des bons de
        souscription.

        Si aucun bon de souscription n'est émis et qu'aucun des titres émis
        n'est convertible, le montant minimum des droits exigibles s'élève à
        500 $.

    DROITS DE DEPOT
    ---------------

    1.  Régimes d'options d'achat d'actions

        Régimes d'achat d'actions des employés

        Les droits seront calculés de la même façon que les droits afférents
        aux régimes d'options d'achat d'actions prévus par la politique 1.3,
        c'est-à-dire qu'ils s'établiront à 0,001 $ par titre réservé aux fins
        d'émission, le montant minimum des droits étant de 500 $.

        Les émetteurs se retrouvent dans une des deux catégories suivantes :

        (i)  Les émetteurs ayant un régime en vigueur accepté par Bourse de
             croissance TSX devraient utiliser la formule suivante afin de
             déterminer le montant des droits payables :

             ----------------------------------------------------------------
                          Nombre d'actions pouvant être émis en
                          vertu du régime dans le cadre de la
                          nouvelle demande
             ----------------------------------------------------------------
             Soustraire   Nombre d'actions pouvant être émis en
                          vertu du régime dans le cadre du régime
                          accepté auparavant par la Bourse
             ----------------------------------------------------------------
             Ajouter      Nombre d'actions émis suite à l'exercice
                          d'options dans le cadre du régime accepté
                          auparavant par la Bourse
             ----------------------------------------------------------------
                          Actions pour lesquelles les droits sont
                          payables
             ----------------------------------------------------------------
             Multiplier   Le taux applicable par action               0,001$
             ----------------------------------------------------------------
                          Droits avant TPS (minimum de 500 $ mais
                          sans excéder 30 000 $)                      $
             ----------------------------------------------------------------
             Ajouter      TPS (5 %)                                   $
             ----------------------------------------------------------------
                          Total des droits payables                   $
             ----------------------------------------------------------------

        (ii) Les émetteurs n'ayant pas de régime, qui payaient auparavant des
             droits lors du dépôt d'avis d'octroi, devraient utiliser la
             formule suivante afin de déterminer le montant des droits
             payables :

             ----------------------------------------------------------------
                          Nombre d'actions pouvant être émis en
                          vertu du régime dans le cadre de la
                          nouvelle demande
             ----------------------------------------------------------------
             Soustraire   Nombre d'options en circulation au moment
                          du dernier avis d'octroi pour lequel la
                          société a payé des droits
             ----------------------------------------------------------------
             Ajouter      Options octroyées suite au dernier avis
                          d'octroi pour lequel la société a payé
                          des droits
             ----------------------------------------------------------------
             Ajouter      Options exercées suite au dernier avis
                          d'octroi pour lequel la société a payé
                          des droits
             ----------------------------------------------------------------
                          Actions pour lesquelles les droits sont
                          payables
             ----------------------------------------------------------------
             Multiplier   Le taux applicable par action               0,001$
             ----------------------------------------------------------------
                          Droits avant TPS (minimum de 500 $ mais
                          sans excéder 30 000 $)                      $
             ----------------------------------------------------------------
             Ajouter      TPS (5 %)                                   $
             ----------------------------------------------------------------
                          Total des droits payables                   $
             ----------------------------------------------------------------

        Les options d'achats d'actions venues à échéance ou qui ont été
        annulées ne sont pas prises en compte dans le calcul des droits.

        Nous recommandons aux émetteurs de déposer l'information ci-dessus
        auprès de la Bourse, dans le cadre de leur prochain dépôt de
        documents relatif à leur régime.

        Nous rappelons aux émetteurs que la Politique 4.4 requiert que toute
        modification à un régime soit déposée auprès de la Bourse aux fins
        d'approbation, incluant les régimes à nombre variable, lesquels
        doivent être déposés sur une base annuelle auprès de la Bourse,
        également aux fins d'approbation.

    2.  Actions émises en règlement d'une dette

        Emissions d'actions en règlement de services comportant plusieurs
        tranches de titres

        Les droits sont calculés de la même manière que les droits afférents
        aux émissions d'actions en règlement d'une dette prévus par la
        politique 1.3.

        Les droits seront constitués d'une somme fixe de 500 $ payable à la
        date du premier dépôt, plus 0,5 % de la valeur réputée des actions
        émises pour chaque tranche.

        Des droits fixes de 500 $ sont exigés pour la première tranche de
        titres émis, plus des droits équivalant à 0,5 % de la valeur réputée
        des actions émises à l'égard de chaque tranche.

        Aucuns droits fixes ne seront exigés pour les tranches subséquentes,
        les droits s'établissant 0,5 % de la valeur réputée des actions
        émises à l'égard de ces tranches.

        Il peut arriver périodiquement (selon ce qui convient à chaque
        opération, p. ex. trimestriellement) que l'émetteur soit tenu de
        présenter un sommaire des titres émis relativement à l'opération et
        de régler les droits applicables. Dans tous les cas, la Bourse
        s'attend à ce que la durée de toute convention prévoyant l'émission
        d'actions en règlement de services n'excède pas 12 mois.

        Pour une convention de services à court terme, les droits sont
        payables à l'avance et un rapport faisant état des titres émis aux
        termes de la convention devra être déposé périodiquement auprès de la
        Bourse.

    3.  Acquisition accélérée

        Opération sujette à examen

        Valeur réputée pour les opérations d'acquisition de biens

        La valeur réputée des actions émises tient compte de la totalité des
        actions devant être émises, que ce soit initialement ou par
        intervalles sur une certaine période, à la valeur réputée par action.
        Dans le cas de l'émission de bons de souscription (voir ci-dessus),
        les droits seront calculés en fonction de 50 % de la valeur des bons
        de souscription devant être émis selon le cours en vigueur à la date
        de publication du communiqué, plutôt qu'en fonction du prix
        d'exercice des bons de souscription. Les droits ne seront pas
        remboursés si des bons de souscription ne sont pas exercés.

        Honoraires d'intermédiation

        En ce qui a trait aux opérations autres qu'un placement privé (p. ex.
        une acquisition) à l'égard desquelles des honoraires d'intermédiation
        sont payables, le calcul des droits afférents à ces opérations
        inclura 0,5 % de la valeur réputée des actions émises en règlement
        des honoraires d'intermédiation et 50 % des bons de souscription émis
        à cette fin.

        Acquisitions et financements simultanés

        Les droits afférents à ces opérations, qui n'incluent pas les
        nouvelles inscriptions, les prises de contrôle inversées, les
        opérations admissibles ni les changements dans les activités, seront
        facturés de manière distincte pour chaque opération conformément à la
        politique 1.3.

        Examen de rapports d'étude géologique

        Aucuns droits ne seront exigés relativement à l'examen d'un rapport
        d'étude géologique déposé dans le cadre d'une opération sujette à
        examen.

    4.  Inscriptions supplémentaires (regroupement, fusion-absorption)

        Regroupements/fusions-absorptions d'émetteurs privés et d'émetteurs
        publics

        Si un ou plusieurs émetteurs privés et un émetteur public effectuent
        un regroupement, une fusion ou une opération similaire, les droits
        exigés seront les droits afférents aux regroupements prévus par la
        politique 1.3.

        Si l'opération constitue une prise de contrôle inversée, une
        opération admissible ou un changement dans les activités, les droits
        exigés seront les droits afférents aux prises de contrôle inversées,
        aux opérations admissibles ou aux changements dans les activités,
        plutôt que les droits afférents aux regroupements.

        Regroupements/fusions-absorptions d'émetteurs publics

        Lorsqu'un émetteur public et un ou plusieurs autres émetteurs publics
        effectuent un regroupement, une fusion ou une opération similaire,
        les droits exigés s'établiront à 2 500 $ par émetteur.

    5.  Regroupement et changement de dénomination

        Les droits applicables à un changement de dénomination s'établissent
        à 500 $.

        Les droits applicables à un regroupement s'établissent à 2 500 $.

        Lorsqu'un regroupement est combiné à un changement de dénomination,
        les droits applicables seront les mêmes que pour un regroupement,
        soit 2 500 $.

    6.  Inscription supplémentaire

        Les droits afférents aux inscriptions supplémentaires s'appliquent
        aux émetteurs déjà inscrits à la Bourse qui inscrivent des titres
        supplémentaires, au sens de la politique 2.8 - Inscriptions
        supplémentaires (la "politique 2.8").

        Les émetteurs qui ne sont pas intercotés à la Bourse et à une bourse
        à grande capitalisation, au sens de la politique 2.8, et qui
        inscrivent une de leurs catégories de titres à la Bourse devront
        acquitter les droits afférents aux nouvelles inscriptions.

    7.  Examens de conventions de relations avec les investisseurs
        accompagnées de formulaires de renseignements personnels

        Les droits fixes de 500 $ constituent le montant minimum des droits
        eu égard à l'examen de conventions de relations avec les
        investisseurs. Des droits supplémentaires seront exigés si les
        Services de réglementation du marché inc. ("SRM") doivent procéder à
        une nouvelle recherche sur les antécédents d'une personne qui dépose
        un formulaire de renseignements personnels.

        Les émetteurs du groupe 1 qui ne sont pas tenus de déposer des
        conventions de relations avec les investisseurs aux fins d'examen
        n'auront pas à acquitter les droits fixes, mais devront acquitter les
        droits supplémentaires en cas de recherche sur les antécédents.

        Il y a lieu de consulter la note 4 de la politique 1.3, qui énonce
        les droits applicables quant aux recherches sur les antécédents.

    8.  Réadmission à la négociation des titres dont la négociation fait
        l'objet d'une suspension

        Examen d'un rapport d'étude géologique dans le cadre de la
        réadmission à la négociation

        Aucuns droits supplémentaires ne seront exigés pour l'examen d'un
        rapport d'étude géologique ou d'un autre type de rapport dans le
        cadre de la réadmission à la négociation si un dépôt relatif à une
        opération (p. ex. une prise de contrôle inversée, un changement dans
        les activités, une opération sujette à examen) a été effectué et que
        le montant minimum des droits applicables a été acquitté.

        Si aucun dépôt relatif à une opération n'a été effectué, des droits
        d'examen de rapport de 500 $ à 1 000 $ seront exigés, dont
        l'établissement variera selon le degré de complexité de l'examen. Ces
        droits relatifs à l'examen seront soustraits du montant minimum des
        droits payable à l'égard de tout dépôt subséquent relatif à
        l'opération susmentionnée.

        Réadmission à la négociation des titres d'émetteurs inscrits au
        marché NEX

        Les droits afférents à la réadmission à la négociation des titres
        d'émetteurs inscrits au marché NEX seront les mêmes que les droits
        afférents à la réadmission à la négociation des titres d'émetteurs
        inscrits à la Bourse qui font l'objet d'une suspension, soit 500 $,
        comme le prévoit la politique 1.3.

    9.  Divers

        Emetteurs radiés de la TSX qui désirent s'inscrire à la Bourse ou au
        marché NEX

        Lorsqu'un émetteur radié de la TSX à la suite d'un changement dans
        les activités ou d'une prise de contrôle inversée s'inscrit à la
        Bourse, les droits afférents à un changement dans les activités ou à
        une prise de contrôle inversée prévus par la politique 1.3
        s'appliqueront.

        L'émetteur inscrit à la TSX qui s'inscrit à la Bourse devra acquitter
        les droits afférents aux nouvelles inscriptions prévus par la
        politique 1.3.

        L'émetteur inscrit à la TSX qui s'inscrit au marché NEX devra
        acquitter des droits de 7 500 $, soit le montant minimum des droits
        afférents aux nouvelles inscriptions prévu par la politique 1.3.

        TPS

        Comme le prévoit la politique 1.3, la TPS de 5 % s'ajoute à tous les
        droits dont il est fait état dans le présent avis, sauf si le
        déposant, au plus tard au moment du paiement des droits, est en
        mesure de démontrer à la Bourse de manière satisfaisante,
        conformément à l'appendice A prescrit par la Loi sur la taxe d'accise
        (Canada), qu'il n'est pas un résident du Canada et qu'il n'est pas
        inscrit aux fins de la TPS/TVH.

    TSX-X
                      ---------------------------------

    ABSOLUT RE

SOURCES CORP. ("ABS") BULLETIN TYPE: Halt BULLETIN DATE: December 20, 2007 TSX Venture Tier 2 Company Effective at 7:25 a.m. PST, December 20, 2007, trading in the shares of the Company was halted at the request of the company, pending an announcement; this regulatory halt is imposed by Market Regulation Services, the Market Regulator of the Exchange pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules. TSX-X --------------------------------- ABSOLUT RE

SOURCES CORP. ("ABS") BULLETIN TYPE: Resume Trading BULLETIN DATE: December 20, 2007 TSX Venture Tier 2 Company Effective at 9:15 a.m. PST, December 20, 2007, shares of the Company resumed trading, an announcement having been made over Market News Publishing. TSX-X --------------------------------- AMSECO EXPLORATION LTD. ("AEL") BULLETIN TYPE: Property-Asset or Share Purchase Agreement BULLETIN DATE: December 20, 2007 TSX Venture Tier 2 Company TSX Venture Exchange has accepted for filing the documentation relating to a Property Acquisition Agreement dated November 3, 2007, whereby the Company may acquire a 100% interest in 87 claims located in Urban Township, in the province of Québec. The Company is required to pay $30,000, issue 750,000 shares and complete $150,000 in exploration work prior to November 3, 2008. The vendor will retain a 2% Net Smelter Royalty, half of which (1%) can be bought back for $1,000,000. For further information, please refer to the Company's press release dated December 14, 2007. EXPLORATION AMSECO LTEE ("AEL") TYPE DE BULLETIN : Convention d'achat de propriété, d'actif ou d'actions DATE DU BULLETIN : Le 20 décembre 2007 Société du groupe 2 de TSX Croissance Bourse de croissance TSX a accepté le dépôt de documents relativement à une convention d'achat de propriété datée du 3 novembre 2007, selon laquelle la société peut faire l'acquisition d'un intérêt de 100 % dans 87 claims situés dans le canton Urban dans la province de Québec. La société doit payer 30 000 $, émettre 750 000 actions et réaliser 150 000 $ en travaux d'exploration avant le 3 novembre 2008. Le vendeur conservera une royauté de 2 % du produit net de la vente des métaux, dont la moitié (1%) pourra être rachetée au prix de 1 000 000 $. Pour plus d'information, veuillez vous référer au communiqué de presse émis par la société le 14 décembre 2007. TSX-X --------------------------------- ANIMAS RE

SOURCES LTD. ("ANI") BULLETIN TYPE: Property-Asset or Share Purchase Agreement BULLETIN DATE: December 20, 2007 TSX Venture Tier 2 Company TSX Venture Exchange has accepted for expedited filing documentation pertaining to an option agreement dated July 24, 2007 between the Company and Victor Manuel Juvera Gaxiola pursuant to which the Company may acquire three mineral concessions (La Peque, Pa Peque 1, El Tascalito) located in the Santa Teresa mining District, Mexico. The total consideration is US$350,000 in cash and US$600,000 in shares of the Company in stages over a five year period. The deemed price of the shares issued as consideration will be based on the 3-month average price before the date of issuance, subject to a minimum $0.79 per share deemed price. DATE CASH SHARES Approval US$25,000 US$20,000 12 Months US$25,000 US$25,000 18 Months US$30,000 US$35,000 24 Months US$30,000 US$47,500 30 Months US$35,000 US$55,000 36 Months US$35,000 US$65,000 42 Months US$40,000 US$70,000 48 Months US$40,000 US$87,500 54 Months US$45,000 US$90,000 60 Months US$45,000 US$105,000 TSX-X --------------------------------- ARISE TECHNOLOGIES CORPORATION ("APV") BULLETIN TYPE: Graduation BULLETIN DATE: December 20, 2007 TSX Venture Tier 2 Company TSX Venture Exchange has been advised that the Company's shares will be listed and commence trading on Toronto Stock Exchange at the opening on December 21, 2007, under the symbol "APV". As a result of this Graduation, there will be no further trading under the symbol "APV" on TSX Venture Exchange after December 20, 2007, and its shares will be delisted from TSX Venture Exchange at the commencement of trading on Toronto Stock Exchange. TSX-X --------------------------------- BELL RE

SOURCES CORPORATION ("BL") BULLETIN TYPE: Private Placement-Non-Brokered BULLETIN DATE: December 20, 2007 TSX Venture Tier 2 Company TSX Venture Exchange has accepted for filing documentation with respect to the third (and final) tranche of a Non-Brokered Private Placement announced November 23, 2007: Number of Shares: 500,000 flow-through shares Purchase Price: $0.50 per share Warrants: 250,000 share purchase warrants to purchase 250,000 shares Warrant Exercise Price: $0.65 for a one year period Number of Placees: 9 placees Insider/Pro Group Participation: Insider equals Y/ Name ProGroup equals P/ No. of Shares George Ritchie P 40,000 James Kerr P 150,000 Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term. TSX-X --------------------------------- BCGOLD CORP. ("BCG") BULLETIN TYPE: Private Placement-Non-Brokered BULLETIN DATE: December 20, 2007 TSX Venture Tier 2 Company TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced December 18, 2007: Number of Shares: 2,555,000 flow-through shares Purchase Price: $0.50 per flow-through share Warrants: 1,277,500 share purchase warrants to purchase 1,277,500 shares Warrant Exercise Price: $0.75 for a one year period $1.00 in the second year Number of Placees: 11 placees Insider/Pro Group Participation: Insider equals Y/ Name ProGroup equals P/ No. of Shares Brian Fowler Y 40,000 Catherine Seltzer P 200,000 Colin Hoodspith P 20,000 Finder's Fee: $7,000 payable to Haywood Securities Inc. $5,250 payable to Raymond James Ltd. $70,000 payable to Limited Market Dealer Inc. Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. TSX-X --------------------------------- BLUERUSH MEDIA GROUP CORP. ("BTV") (formerly Soyers Capital Limited ("BTV")) BULLETIN TYPE: Name Change BULLETIN DATE: December 20, 2007 TSX Venture Tier 2 Company Pursuant to a resolution passed by shareholders December 4, 2007, the Company has changed its name as follows. There is no consolidation of capital. Effective at the opening, December 21, 2007, the common shares of BlueRush Media Group Corp. will commence trading on TSX Venture Exchange, and the common shares of Soyers Capital Limited will be delisted. The Company is classified as a 'Digital Image Manufacturing' company. Capitalization: Unlimited shares with no par value of which 32,318,000 shares are issued and outstanding Escrow: 22,056,250 shares Transfer Agent: Equity Transfer & Trust Company Trading Symbol: BTV (unchanged) CUSIP Number: 09625L 10 9 (new) TSX-X --------------------------------- BTB REAL ESTATE INVESTMENT TRUST ("BTB.UN") BULLETIN TYPE: Notice of Distribution BULLETIN DATE: December 20, 2007 TSX Venture Tier 1 Company The Issuer has declared the following distribution: Distribution per Trust Unit: $0.02329 Payable Date: January 16, 2008 Record Date: December 31, 2007 Ex-Distribution Date: December 27, 2007 TSX-X --------------------------------- CADISCOR RE

SOURCES INC. ("CAO") BULLETIN TYPE: Property-Asset or Share Purchase Agreement BULLETIN DATE: December 20, 2007 TSX Venture Tier 1 Company TSX Venture Exchange has accepted for filing the documentation relating to a Property Option Acquisition Agreement dated October 5, 2007, between IAMGold Corporation ("IAMGOLD") and the Company, whereby the Company has the option to acquire up to 100% of IAMGOLD's interest in the Sleeping Giant Mine and its related milling facilities ("Mine"). The option grants the Company the right to take possession of the Mine at the end of production from current reserves and in any event no later than April 1st, 2009. The main terms of the Option are the following: 1- Upon execution of the Option Agreement, the Company will pay to IAMGOLD a cash amount of $300,000 and will issue to IAMGOLD 600,000 common shares. On the same date, the Company will also issue to IAMGOLD 1,000,000 common share purchase warrants, each warrant entitling IAMGOLD to purchase one common share of the Company at a price of $1.00 until April 1st, 2009. 2- On the earlier of (i) April 1st, 2009 or (ii) the date of completion of the mining and processing of the current reserves of the Mine, the Company will take possession of the Mine by paying to IAMGOLD an amount of $5,000,000, payable, at the Company's sole discretion, either in cash or by the issuance of the relevant number of common shares at a price equivalent to the volume-weighted average price of the previous 20 trading days, less the maximum allowable discount permitted by the TSX Venture. All future issuances of the Company shares under the deal are subject to the prior approval of TSX Venture Exchange. 3- After acquiring the Mine and after the Company has milled, at the Mine milling facilities, a total of 300,000 tons of ore from any source, the Company will pay to IAMGOLD an amount of $1,000,000, payable at the Company's sole discretion, either in cash or by the issuance of the relevant number of common shares at a price equivalent to the volume- weighted average price of the previous 20 trading days, less a 5% discount. All future issuances of the Company shares under the deal are subject to the prior approval of TSX Venture Exchange. 4- After the acquisition of the Mine, the Company will commit to grant to IAMGOLD the following royalties: (a) a 1.0% NSR royalty on future gold production from the Mine property, with the Company having the right to buy back such royalty for an amount of $1,000,000 at any time; and (b) a 1.5% NSR royalty on any future base metal production from the Mine property, it being understood that such royalty will only be granted if there exists more than 5,000,000 tons of Measured and Indicated resources on the property, as established by a 43-101 compliant resource estimate. 5- Upon execution of the Option Agreement, the Company shall also have the right to carry out a surface or underground exploration program on any portion of land included in the Mine property by assuming all costs related to it. IAMGOLD will give the Company access to the necessary facilities to conduct the exploration program and will charge the Company with the expenses in connection therewith. For further information, please refer to the Company's press release dated October 9, 2007. RES

SOURCES CADISCOR INC. ("CAO") TYPE DE BULLETIN : Convention d'achat de propriété, d'actif ou d'actions DATE DU BULLETIN : Le 20 décembre 2007 Société du groupe 1 de TSX Croissance Bourse de croissance TSX a accepté le dépôt de documents en vertu d'une convention d'option d'achat de propriété datée du 5 octobre 2007, entre Corporation IAMGold ("IAMGOLD") et la société, selon laquelle la société a l'option d'acquérir jusqu'à 100 % de l'intérêt de IAMGOLD dans la propriété de la Mine Géant Dormant et de ses installations de surface, incluant une usine de traitement (la "Mine"). L'option donne le droit à Cadiscor de prendre possession de la Mine à la fin de l'exploitation des réserves minières actuelles au plus tard le 1er avril 2009. Les termes principaux de l'Option sont les suivants : 1- Lors de la signature de l'Entente d'Option, la société paiera à IAMGOLD la somme de 300 000 $ CAN et émettra à IAMGOLD 600 000 actions ordinaires. La société émettra à la même date, 1 000 000 de bons de souscription. Chaque bon de souscription permettra à IAMGOLD d'acheter une action ordinaire au prix de 1,00 $ et ce jusqu'au 1er avril 2009. 2- A la première des dates suivantes, soit (i) le 1er avril 2009 ou (ii) la date de fin de production des réserves actuelles connues de la Mine, la société prendra possession de la Mine en versant la somme de 5 000 000 $ CAN. Celle-ci sera payable, au choix de la société, soit au comptant ou par l'émission d'un nombre approprié d'actions ordinaires à un prix équivalent à la moyenne pondérée par le volume des 20 jours précédents la transaction, moins l'escompte maximum autorisé par la Bourse de Croissance TSX. L'émission future des actions de la société est sujette à l'approbation préalable de la Bourse de Croissance TSX. 3- Lorsque les actifs auront été transférés à la société et que la société aura usiné, à l'usine de traitement de la Mine Géant Dormant, 300 000 tonnes de minerai de toutes sources, la société paiera à IAMGOLD une somme de 1 000 000 $ CAN. Celle-ci sera payable, au choix de la société, soit au comptant ou par l'émission d'un nombre approprié d'actions ordinaires à un prix équivalent à la moyenne pondérée par le volume des 20 jours précédents la transaction, moins un escompte de 5 %. L'émission future des actions de la société est sujette à l'approbation préalable de la Bourse de Croissance TSX. 4- Lorsque les actifs auront été transférés à la société, la société concèdera à IAMGOLD les royautés suivantes (a) une royauté de 1 % NSR sur la production aurifère future de la propriété, la société ayant le droit de la racheter en tout temps pour 1 000 000 $ CAN ; et (b) une royauté de 1,5 % NSR sur toute production future de métaux de base provenant de la propriété. Celle-ci n'est cependant payable que si un rapport indépendant selon la norme IN 43-101 établit qu'il existe des ressources mesurées et indiquées supérieures à 5 000 000 de tonnes. 5- La société, une fois l'Option signée, aura le droit de réaliser des programmes d'exploration de surface ou souterrain sur l'ensemble de la propriété de la Mine Géant Dormant mais devra en assumer les coûts. IAMGOLD donnera accès au personnel et aux services miniers nécessaires pour faciliter la réalisation de ces travaux et facturera, à la société, les dépenses reliées à ceux-ci. Pour plus d'information, veuillez vous référer au communiqué de presse émis par la société le 9 octobre 2007. TSX-X --------------------------------- CANORO RE

SOURCES LTD. ("CNS") BULLETIN TYPE: Prospectus-Share Offering BULLETIN DATE: December 20, 2007May 11, 2001 TSX Venture Tier 1 Company Effective December 13, 2007, the Company's Prospectus dated December 13, 2007 was filed with and accepted by TSX Venture Exchange, and filed with and receipted by the Alberta, British Columbia, Saskatchewan, Manitoba, and Ontario Securities Commissions, pursuant to the provisions of the Securities Acts of each respective province. TSX Venture Exchange has been advised that closing occurred on December 20, 2007, for gross proceeds of $30,090,000. Agents: Cormark Securities Inc., CIBC World Markets Inc., Fraser Mackenzie Limited, Jennings Capital Inc., Westwind Partners Inc. Offering: 17,700,000 shares Share Price: $1.70 per share Greenshoe Option: The Agent may over-allot the shares in connection with this offering and the Company has granted to the Agent, an option to purchase up to 2,655,000 additional shares at a price of $1.70 per share, up to the close of business on January 18, 2008. TSX-X --------------------------------- CENTURY ENERGY LTD. ("CEY") BULLETIN TYPE: Private Placement-Non-Brokered, Correction BULLETIN DATE: December 20, 2007 TSX Venture Tier 2 Company Further to the TSX Venture Exchange Bulletin dated December 14, 2007 and December 17, 2007, this is to advise that that there are 710,000 warrants to purchase 710,000 shares at $0.20 per warrant for a one year period and not 1,670,000 warrants as originally stated regarding the Non-Brokered Private Placement announced December 12, 2007. TSX-X --------------------------------- CENTURY MINING CORPORATION ("CMM") BULLETIN TYPE: Private Placement-Non-Brokered BULLETIN DATE: December 20, 2007 TSX Venture Tier 2 Company TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced September 27, 2007: Number of Shares: 13,180,000 shares Purchase Price: $0.55 per share Warrants: 6,590,000 share purchase warrants to purchase 6,590,000 shares Warrant Exercise Price: $0.75 for a two year period Number of Placees: 6 placees Finder's Fee: $396,000 and 111,865 shares payable to Jeffries & Company Inc. $22,880 and 9,323 shares payable to Otis Munday. Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. TSX-X --------------------------------- CERVUS LP ("CVL.UN") BULLETIN TYPE: Notice of Distribution BULLETIN DATE: December 20, 2007 TSX Venture Tier 1 Company The Issuer has declared the following distribution: Distribution per Trust Unit: $0.09 Payable Date: January 15, 2008 Record Date: December 31, 2007 Ex-Distribution Date: December 27, 2007 TSX-X --------------------------------- EAST WEST RE

SOURCE CORPORATION ("EWR") BULLETIN TYPE: Private Placement-Brokered BULLETIN DATE: December 20, 2007 TSX Venture Tier 2 Company TSX Venture Exchange has accepted for filing documentation with respect to a Brokered Private Placement announced October 31, 2007: Number of Shares: 2,941,177 flow-through shares 13,333,334 non flow-through shares Purchase Price: $0.17 per flow-through share $0.15 per non flow-through share Warrants: 1,470,589 share purchase warrants under flow- through units to purchase 1,470,589 shares at $0.22 for two years 13,333,334 share purchase warrants under non flow-through units to purchase 13,333,334 shares at $0.17 for two years Number of Placees: 21 placees Agent's Fee: $200,000 cash and 1,627,451 Agent's Options (exercisable at $0.15 per Unit with an expiry date of December 6, 2009 and each Unit consisting of one share and one share purchase warrant exercisable at $0.17 per share with the same expiry date of December 6, 2009) payable to PowerOne Capital Markets Limited. Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. TSX-X --------------------------------- EL NINO VENTURES INC. ("ELN") BULLETIN TYPE: Property-Asset or Share Purchase Agreement BULLETIN DATE: December 20, 2007 TSX Venture Tier 1 Company TSX Venture Exchange has accepted for a one-time payment of a finder's fee in the amount of 29,000 shares of El Nino Ventures Inc. (the "Company") and $20,000 cash to John Royall (who was later appointed as a director), pursuant to a letter agreement dated September 14, 2006 between the Company and Mr. Royall. The finder's fee is in connection with the grant of licenses to the Company in the Republic of Ireland (refer to October 17, 2007 news release). TSX-X --------------------------------- EXCHANGE INDUSTRIAL INCOME FUND ("EIF.UN") BULLETIN TYPE: Notice of Distribution BULLETIN DATE: December 20, 2007 TSX Venture Tier 1 Company The Issuer has declared the following distribution: Distribution per Trust Unit: $0.125 Payable Date: January 15, 2008 Record Date: December 31, 2007 Ex-Distribution Date: December 27, 2007 TSX-X --------------------------------- GEMINI ACQUISITIONS INC. ("GQI") (formerly Gemini Acquisitions Inc. ("GQI.P")) BULLETIN TYPE: Resume Trading, Qualifying Transaction-Completed/New Symbol, Private Placement-Brokered BULLETIN DATE: December 20, 2007 TSX Venture Tier 2 Company The common shares of the Company have been halted from trading since May 3, 2007, pending final review of its Qualifying Transaction. As a result of the completed Qualifying Transaction, effective at the open, Friday, December 21, 2007, trading will resume in the securities of the Company. TSX Venture Exchange has accepted for filing the Company's Qualifying Transaction described in its Filing Statement dated November 5, 2007. The Qualifying Transaction includes the following: 1. Qualifying Transaction Pursuant to an Amalgamation Agreement dated September 28, 2007, a wholly owned subsidiary of the Company has amalgamated with Silver Shield Resources Inc. ("Silver Shield"). Pursuant to the terms of the Amalgamation Agreement, the Company issued common shares to the holders of Silver Shield common shares. In connection with the amalgamation 11,030,500 common shares of the Company were issued to the shareholders of Silver Shield which controls certain mineral exploration properties located in Mexico and Northern Ontario. For complete details on the Qualifying Transaction please refer to the Company's Filing Statement dated November 5, 2007 and available at www.sedar.com. 2. Private Placement Brokered TSX Venture Exchange has accepted for filing documentation with respect to a Brokered Private Placement announced May 4, 2007: Number of Shares: 6,541,600 Flow Through Shares 1,905,000 Non Flow Through Shares Purchase Price: $0.325 per Flow Through Unit $0.26 per Common Share Unit Warrants: 3,270,800 common share purchase warrants (from Flow Through Units) exercisable into one common share at a price of $0.45 for a period of two years. 952,500 common share purchase warrants (from Non Flow Through Units) exercisable into one common share at a price of $0.35 for a period of two years. Number of Placees: 31 placees Insider/Pro Group Participation: Insider equals Y/ Name ProGroup equals P/ No. of Shares Raymond Lashbrook Y 76,923 Stephen Mlot Y 76,923 Timothy Towers Y 76,923 Foundation Opportunities Inc. Y/P 96,124 Agent's Fee: Research Capital Corporation and Foundation Markets Inc. received an aggregate of $191,640 cash commission plus 802,160 broker options (each broker option is exercisable into at $0.26 until December 14, 2009 and is comprised of one common share and one half of one common share purchase warrant exercisable into a common share at $0.35). The Exchange has been advised that the above transactions have been completed. Post Consolidation Capitalization: Unlimited common shares with no par value of which 33,943,528 common shares are issued and outstanding Escrow: 8,224,997 common shares are to be released in stages over a 36 month period from the date of this bulletin. Transfer Agent: Equity Transfer & Trust Company CUSIP Number: 36865Y 10 3 Symbol: GQI (same symbol as CPC but with .P removed) The Company is classified as a "Mining Exploration" company. Company Contact: Tim Towers Company Address: 4034 Mainway Drive Burlington, ON L7M 4B9 Company Phone Number: 905 319-3033 E-mail: ttowers@cogeco.ca TSX-X --------------------------------- GEO MINERALS LTD. ("GM") BULLETIN TYPE: New Listing-IPO-Shares BULLETIN DATE: December 20, 2007 TSX Venture Tier 2 Company The Company's Initial Public Offering ('IPO') Prospectus dated November 29, 2007, has been filed with and accepted by TSX Venture Exchange, and filed with and receipted by the British Columbia, Alberta and Ontario Securities Commissions on November 30, 2007, pursuant to the provisions of the applicable Securities Acts. The gross proceeds received by the Company for the Offering were $1,000,000 (via 3,500,000 non-flow through common shares and 1,500,000 flow through common shares @ $0.20 per share. Each non-flow through common share has one-half warrant attached with each whole warrant exercisable into one additional common share at $0.30 for a one year period). The Company is classified as a 'Mineral Exploration' company. Commence Date: At the opening Friday, December 21, 2007, the Common shares will commence trading on TSX Venture Exchange. Corporate Jurisdiction: British Columbia Capitalization: Unlimited common shares with no par value of which 16,011,699 common shares are issued and outstanding Escrowed Shares: 1,579,000 common shares and 560,000 share purchase warrants are subject to 36 month staged release escrow Transfer Agent: Pacific Corporate Trust Company Trading Symbol: GM CUSIP Number: 36160A 10 7 Agent: Bolder Investment Partners, Ltd. Agent's Warrants: 750,000 non-transferable share purchase warrants. One warrant to purchase one share at $0.20 per share for a two year period. For further information, please refer to the Company's Prospectus dated November 29, 2007. Company Contact: John Masters Company Address: 1220-789 W. Pender Street Vancouver, BC V6C 1H2 Company Phone Number: 604-683-3995 Company Fax Number: 604-683-3988 Company Email Address: mastersj@shaw.ca TSX-X --------------------------------- GOLDEN ARCH RE

SOURCES LTD. ("GAI") BULLETIN TYPE: Property-Asset or Share Purchase Agreement BULLETIN DATE: December 20, 2007 TSX Venture Tier 2 Company TSX Venture Exchange has accepted for filing an Agreement dated October 19, 2007 between Golden Arch Resources Ltd. (the "Company") and Mr. John Bot (the "Vendor"), whereby the Company is acquiring a mineral tenure in the Slocan Mining District, British Columbia in consideration of issuance of 50,000 shares and payment of $1,500 cash to the Vendor. TSX-X --------------------------------- IMA EXPLORATION INC. ("IMR")("IMR.WT")("IMR.WT.A") BULLETIN TYPE: Halt BULLETIN DATE: December 20, 2007 TSX Venture Tier 2 Company Effective at the open, December 20, 2007, trading in the shares of the Company was halted at the request of the company, pending an announcement; this regulatory halt is imposed by Market Regulation Services, the Market Regulator of the Exchange pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules. TSX-X --------------------------------- IMA EXPLORATION INC. ("IMR")("IMR.WT")("IMR.WT.A") BULLETIN TYPE: Resume Trading BULLETIN DATE: December 20, 2007 TSX Venture Tier 2 Company Effective at 8:00 a.m. PST, December 20, 2007, shares of the Company resumed trading, an announcement having been made over StockWatch. TSX-X --------------------------------- INSTORAGE REAL ESTATE INVESTMENT TRUST ("IS.UN") BULLETIN TYPE: Notice of Distribution BULLETIN DATE: December 20, 2007 TSX Venture Tier 1 Company The Issuer has declared the following distribution: Distribution per Trust Unit: $0.006041667 Payable Date: January 15, 2008 Record Date: December 31, 2007 Ex-Distribution Date: December 27, 2007 TSX-X --------------------------------- LANDIS ENERGY CORPORATION ("LIS") BULLETIN TYPE: Resume Trading BULLETIN DATE: December 20, 2007 TSX Venture Tier 2 Company Effective at the open, December 20, 2007, shares of the Company resumed trading, an announcement having been made over StockWatch. TSX-X --------------------------------- NEW SHOSHONI VENTURES LTD. ("NSV") BULLETIN TYPE: Private Placement-Non-Brokered BULLETIN DATE: December 20, 2007 TSX Venture Tier 2 Company TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced December 5, 2007: Number of Shares: 4,248,000 flow-through shares and 1,062,000 non flow-through shares Purchase Price: $0.30 per share Warrants: 5,310,000 share purchase warrants to purchase 5,310,000 flow-through shares Warrant Exercise Price: $0.40 for a one year period Number of Placees: 15 placees Insider/Pro Group Participation: Insider equals Y/ Name ProGroup equals P No. of Shares Don Weinert Y 72,000 flow-through shares and 18,000 non flow-through shares Derrick Strickland Y 48,000 flow-through shares and 12,000 non flow-through shares Danny Harada Y 24,000 flow-through shares and 6,000 non flow-through shares Finder's Fees: $69,840 cash payable to Blackmont Capital Inc. $10,440 cash payable to Canaccord Capital Corporation. Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term. TSX-X --------------------------------- NORTHERN CONTINENTAL RE

SOURCES INC. ("NCR") BULLETIN TYPE: Private Placement-Non-Brokered BULLETIN DATE: December 20, 2007 TSX Venture Tier 2 Company TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced December 18, 2007: Number of Shares: 3,850,000 flow-through shares Purchase Price: $0.40 per share Warrants: 1,925,000 share purchase warrants to purchase 1,925,000 shares Warrant Exercise Price: $0.60 for a one year period Number of Placees: 5 placees Finder's Fee: 243,750 units (comprised of one share and one half of one warrant, with each whole warrant exercisable into one share at $0.60 for one year) and 262,500 warrants exercisable at $0.60 for one year payable to Limited Market Dealer Inc. $2,800 cash payable to Lakeco Holdings Ltd. (William R. MacNeil). Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term. TSX-X --------------------------------- NX PHASE CAPITAL INC. ("NXP") BULLETIN TYPE: Halt BULLETIN DATE: December 20, 2007 TSX Venture Tier 2 Company Effective at 9:20 a.m. PST, December 20, 2007, trading in the shares of the Company was halted at the request of the Company, pending an announcement; this regulatory halt is imposed by Market Regulation Services, the Market Regulator of the Exchange pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules. TSX-X --------------------------------- PAINTED PONY PETROLEUM LTD. ("PPY.A") BULLETIN TYPE: Private Placement-Brokered BULLETIN DATE: December 20, 2007 TSX Venture Tier 2 Company TSX Venture Exchange has accepted for filing documentation with respect to a Brokered Private Placement announced November 14, 2007: Number of Shares: 4,166,700 Class A Shares Purchase Price: $2.40 per share Number of Placees: 82 placees Insider/Pro Group Participation: Insider equals Y/ Name ProGroup equals P/ No. of Shares 764503 Alberta Ltd. (Pat Ward) Y 88,000 Donald Slater Y 18,000 Bruce Mezei Y 9,000 Kevin Angus Y 9,000 Joan Dunne Y 80,000 Craig Reed Y 5,000 Allan Aston Y 11,000 James Thomson Y 18,000 James French Y 9,000 Agents' Fee: A total of $600,004.80 payable as follows: Blackmont Capital Inc. - $300,002.40 First Energy Capital Corp. - $120,000.96 Westwind Capital Inc. - $120,000.96 Cormark Securities Inc. - $60,000.48 Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). TSX-X --------------------------------- PACIFIC COMOX RE

SOURCES LTD. ("PCM") BULLETIN TYPE: Private Placement-Non-Brokered BULLETIN DATE: December 20, 2007 TSX Venture Tier 2 Company TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced November 6, 2007: Number of Shares: 23,191,826 flow through shares Purchase Price: $0.11 per share Warrants: 11,595,913 share purchase warrants to purchase 11,595,913 shares Warrant Exercise Price: $0.15 for a one year period Number of Placees: 19 placees Insider/Pro Group Participation: Insider equals Y/ Name ProGroup equals P/ No. of Shares Donald Empey Y 10,765,267 John Wolff Y 900,000 Robert Stabile P 572,727 Darren Slack P 381,818 Elizabeth Leonard P 204,546 Glen Milne P 409,092 K. Andrew Gustajtis P 3,181,818 Richard Hermon P 454,548 John Hermon P 454,548 Lorne Graham P 454,548 Herb Abramson P 4,545,456 Randall Abramson P 4,136,630 Finder's Fee: $122,000 payable to D&D Securities Ltd. Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term. TSX-X --------------------------------- PUGET VENTURES INC. ("PVS.P") BULLETIN TYPE: Remain Halted BULLETIN DATE: December 20, 2007 TSX Venture Tier 2 Company Further to TSX Venture Exchange Bulletin dated December 17, 2007, effective at the open, December 20, 2007 trading in the shares of the Company will remain halted pending receipt and review of acceptable documentation regarding the Qualifying Transaction pursuant to Listings Policy 2.4. TSX-X --------------------------------- PURE INDUSTRIAL REAL ESTATE TRUST ("AAR.UN") BULLETIN TYPE: Prospectus-Trust Unit Offering BULLETIN DATE: December 20, 2007May 11, 2001 TSX Venture Tier 1 Company Effective December 12, 2007, the Company's Prospectus dated December 12, 2007 was filed with and accepted by TSX Venture Exchange, and filed with and receipted by the British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick, Nova Scotia, Prince Edward Island and Newfound and Labrador Securities Commissions, pursuant to the provisions of the BC Securities Act. TSX Venture Exchange has been advised that closing occurred on December 20, 2007, for gross proceeds of $8,170,000. Agent(s): Dundee Securities Corporation, RBC Dominion Securities Inc., Raymond James Ltd., BMO Nesbitt Burns Inc., Blackmont Capital Inc., Bieber Securities Inc., Canaccord Capital Corporation, MGI Securities Inc., and Sora Group Wealth Advisors Inc. Offering: 2,150,000 Trust Units Trust Unit Price: $3.80 per Trust Unit Agent's Commission: 7% Greenshoe Option: The Agent may over-allot the Trust Units in connection with this offering and the Company has granted to the Agent, an option to purchase 322,500 additional Trust Units, up to 15% of the offering, at $3.80 gross, up to the close of business for 30 days following Closing. For further information, please refer to the Company's prospectus dated December 12, 2007. TSX-X --------------------------------- PURE INDUSTRIAL REAL ESTATE TRUST ("AAR.UN") BULLETIN TYPE: Notice of Distribution BULLETIN DATE: December 20, 2007 TSX Venture Tier 1 Company The Issuer has declared the following distribution: Distribution per Trust Unit: $0.025 Payable Date: January 15, 2008 Record Date: December 31, 2007 Ex-Distribution Date: December 27, 2007 TSX-X --------------------------------- RESPONSE BIOMEDICAL CORP. ("RBM") BULLETIN TYPE: Graduation BULLETIN DATE: December 20, 2007 TSX Venture Tier 2 Company TSX Venture Exchange has been advised that the Company's shares will be listed and commence trading on Toronto Stock Exchange at the opening on December 21, 2007, under the symbol "RBM". As a result of this Graduation, there will be no further trading under the symbol "RBM" on TSX Venture Exchange after December 20, 2007, and its shares will be delisted from TSX Venture Exchange at the commencement of trading on Toronto Stock Exchange. TSX-X --------------------------------- RIPPER OIL AND GAS INC. ("RIP") BULLETIN TYPE: Property-Asset or Share Purchase Agreement BULLETIN DATE: December 20, 2007 TSX Venture Tier 1 Company TSX Venture Exchange (the "Exchange") has accepted for filing documentation pursuant to an arm's length Purchase and Sale agreement dated December 12, 2007 (the "Agreement"), whereby Ripper Oil and Gas Inc. (the "Company") has acquired various interest in properties located in Tony Creek, Carrot Creek, Ewing Lake and Cynthia, all located in Alberta . In consideration, the company issued 200,000 common shares at a deemed price of $0.365. TSX-X --------------------------------- SANATANA DIAMONDS INC. ("STA") BULLETIN TYPE: Resume Trading BULLETIN DATE: December 20, 2007 TSX Venture Tier 2 Company Effective at 8:00 a.m. PST, December 20, 2007, shares of the Company resumed trading, an announcement having been made over Marketwire. TSX-X --------------------------------- SOLID RE

SOURCES LTD. ("SRW") BULLETIN TYPE: Halt BULLETIN DATE: December 20, 2007 TSX Venture Tier 2 Company Effective at 6:15 a.m. PST, December 20, 2007, trading in the shares of the Company was halted pending an announcement; this regulatory halt is imposed by Market Regulation Services, the Market Regulator of the Exchange pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules. TSX-X --------------------------------- SOLID RE

SOURCES LTD. ("SRW") BULLETIN TYPE: Resume Trading BULLETIN DATE: December 20, 2007 TSX Venture Tier 2 Company Effective at 9:00 a.m. PST, December 20, 2007, shares of the Company resumed trading, an announcement having been made over Market News Publishing. TSX-X --------------------------------- SOUTHERN ARC MINERALS INC. ("SA") BULLETIN TYPE: Private Placement-Brokered BULLETIN DATE: December 20, 2007 TSX Venture Tier 2 Company TSX Venture Exchange has accepted for filing documentation with respect to a Brokered Private Placement announced November 27, 2007: Number of Shares: 9,260,336 shares Purchase Price: $1.20 per share Warrants: 9,260,336 half share purchase warrants to purchase 4,630,168 shares Warrant Exercise Price: $1.75 for a two year period Number of Placees: 86 placees Insider/Pro Group Participation: Insider equals Y/ Name ProGroup equals P/ No. of Shares David Lyall P 100,000 Topiary Holdings (Eric Savics) P 100,000 Eric Savics P 100,000 Andrew Dacey P 10,000 Nelson River Resources Ltd. (Kirk Fyffe) P 50,000 Len Cuthbert P 50,000 Douglas Leishman Y 100,000 Winton Derby P 50,000 Bill Griffis P 76,000 Agent's Fees: Haywood Securities (UK) Ltd. receives $326,701.29 and 272,251 agent's warrants, each exercisable for one share at a price of $1.20 per share for a one year period. Canaccord Capital Corporation receives $284,766.92 and 237,306 agent's warrants, each exercisable for one share at a price of $1.20 per share for a one year period. Haywood Securities Inc. receives $40,170 and 33,475 agent's warrants, each exercisable for one share at a price of $1.20 per share for a one year period. Bolder Investment Partners receives $18,330 and 15,275 agent's warrants, each exercisable for one share at a price of $1.20 per share for a one year period. Northern Securities receives $1,950 and 1,625 agent's warrants, each exercisable for one share at a price of $1.20 per share for a one year period. Blackmont Capital Inc. receives $19,188 and 15,990 agent's warrants, each exercisable for one share at a price of $1.20 per share for a one year period. Wellington West Capital receives $7,800 and 6,500 agent's warrants, each exercisable for one share at a price of $1.20 per share for a one year period. Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. TSX-X --------------------------------- TOM EXPLORATION INC. ("TUM") BULLETIN TYPE: Property-Asset or Share Purchase Agreement BULLETIN DATE: December 20, 2007 TSX Venture Tier 2 Company TSX Venture Exchange has accepted for filing the documentation relating to a Property Acquisition Agreement (''the Agreement'') dated October 26, 2007, whereby the Company has the option to acquire 6 prospecting permits located in Guyana. The Company is required to pay $40,000 and issue a total of 400,000 common shares upon the signing of the Agreement. For further information, please refer to the Company's press release dated November 6, 2007. EXPLORATION TOM INC. ("TUM") TYPE DE BULLETIN : Convention d'achat de propriété, d'actif ou d'actions DATE DU BULLETIN : Le 20 décembre 2007 Société du groupe 2 de TSX Croissance Bourse de croissance TSX a accepté le dépôt de documents relativement à une convention d'achat de propriété ("la convention") datée du 26 octobre 2007, selon laquelle la société a l'option d'acquérir un intérêt dans 6 permis de prospection situés en Guyane. La société doit payer 40 000 $ et émettre un total de 400 000 actions ordinaires lors de la signature de la convention. Pour plus d'information, veuillez consulter le communiqué de presse émis par la société le 6 novembre 2007. TSX-X --------------------------------- TRAFINA ENERGY LTD. ("TFA.A") BULLETIN TYPE: Normal Course Issuer Bid BULLETIN DATE: December 20, 2007 TSX Venture Tier 2 Company TSX Venture Exchange has been advised by the Company that pursuant to a Notice of Intention to make a Normal Course Issuer Bid dated December 19, 2007, it may repurchase for cancellation, up to 289,000 shares in its own capital stock. The purchases are to be made through the facilities of TSX Venture Exchange during the period December 20, 2007 to December 19, 2008. Purchases pursuant to the bid will be made by J.F. Mackie & Company Ltd. on behalf of the Company. TSX-X --------------------------------- URANIUM NORTH RE

SOURCES CORP. ("UNR") BULLETIN TYPE: Private Placement-Non-Brokered BULLETIN DATE: December 20, 2007 TSX Venture Tier 2 Company TSX Venture Exchange has accepted for filing documentation with respect to the first tranche of a Non-Brokered Private Placement announced December 7, 2007: Number of Shares: 2,136,000 flow-through shares Purchase Price: $0.55 per flow-through share Number of Placees: 11 placees Finder's Fee: $25,025 and 63,700 warrants payable to NovaDX Ventures Corp. $27,500 and 70,000 warrants payable to Canaccord Capital Corp. $1,237.50 and 3,150 warrants payable to National Bank Financial $4,977.50 and 12,670 warrants payable to Blackmont Capital Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. TSX-X --------------------------------- U.S. SILVER CORPORATION ("USA") BULLETIN TYPE: Private Placement-Brokered BULLETIN DATE: December 20, 2007 TSX Venture Tier 1 Company TSX Venture Exchange has accepted for filing documentation with respect to a Brokered Private Placement announced November 7, 2007: Number of Shares: 24,470,000 shares Purchase Price: $1.00 per share Warrants: 24,470,000 share purchase warrants to purchase 24,470,000 shares Warrant Exercise Price: $1.25 for a two year period Number of Placees: 72 placees Insider/Pro Group Participation: Insider equals Y/ Name ProGroup equals P/ No. of Shares Scott Hunter P 100,000 Agent's Fee: An aggregate of $1,712,900 and 1,712,900 compensation options payable to Research Capital Corporation and Cormark Securities Inc. Each compensation option is exercisable into a unit at a price of $1.00 for a two year period. Each unit consists of a common share and one-half of a common share purchase warrant. Each whole warrant is exercisable into one common share at a price of $1.25 for a two year period. Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company has issued a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term. TSX-X --------------------------------- NEX COMPANIES BECKER GOLD MINES LTD. ("BGD.H") BULLETIN TYPE: Private Placement-Non-Brokered BULLETIN DATE: December 20, 2007 NEX Company TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced October 30, 2007: Number of Shares: 2,450,000 shares Purchase Price: $0.12 per share Warrants: 2,450,000 share purchase warrants to purchase 2,450,000 shares Warrant Exercise Price: $0.16 for a one year period Number of Placees: 7 placees Insider/Pro Group Participation: Insider equals Y/ Name ProGroup equals P/ No. of Shares Scott Hunter P 225,000 Tuareg Consulting Inc. Y 515,000 0713708 BC Ltd. Y 300,000 Stephen Kenwood Y 435,000 BBC Capital Corp. Y 325,000 GF Consulting Corp. Y 490,000 Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. TSX-X --------------------------------- CONSOLIDATED WESTVIEW RE

SOURCE CORP. ("CWS.H") BULLETIN TYPE: Shares for Debt BULLETIN DATE: December 20, 2007 NEX Company TSX Venture Exchange has accepted for filing the Company's proposal to issue 5,307,494 shares to settle outstanding debt for $1,326,873.56. Number of Creditors: 1 Creditor Insider/Pro Group Participation: Deemed Insider equals Y/ Amount Price No. of Creditor Progroup equals P Owing per Share Shares Eastwest Gold Corporation Y $1,326,873.56 $0.25 5,307,494 The Company shall issue a news release when the shares are issued and the debt extinguished. TSX-X --------------------------------- CONSOLIDATED WESTVIEW RE

SOURCE CORP. ("CWS.H") BULLETIN TYPE: Private Placement-Non-Brokered BULLETIN DATE: December 20, 2007 NEX Company TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced November 16, 2007: Number of Shares: 1,200,000 shares Purchase Price: $0.25 per share Warrants: 600,000 share purchase warrants to purchase 600,000 shares Warrant Exercise Price: $0.40 for a one year period Number of Placees: 22 placees Insider/Pro Group Participation: Insider equals Y/ Name ProGroup equals P/ No. of Shares Nigel Selby P 160,000 Anthony P. Fierro P 20,000 James Oleynick P 80,000 Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly. TSX-X ---------------------------------

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