TSX Venture Exchange Daily Bulletins

Offering:                                         

The offering consists in a minimum of $1 250 000 units (the "Units") and a maximum of $2,000,000 Units. Each Unit consists of $1,000 principal amount of 12% convertible secured debentures and 4,348 warrants. Each warrant entitles the holder to purchase one common share at a price of $0.24 until December 31, 2017.

Offering Price:                                 

$1,000 per Unit.

Warrant Exercise Price:                  

$0.24 until December 31, 2017.

Agent:                                             

Euro Pacific Canada Inc.

Agent's Commission:                        

Up to 6% of the gross proceeds in cash and non-transferable broker warrants to purchase a number of common shares as equal to 6% of the number of common shares issuable upon conversion of the debentures sold, each broker warrant exercisable to purchase one common share at $0.24 per common share until June 30, 2017.

Over-Allotment Option:                    

The agent have been granted an over-allotment option, exercisable for a period of 30 days following the closing, to purchase a number of additional Units equal to 15% of the number of Units qualified under the offering (representing up to 300 additional Units).

Details of the Debentures:

Maturity Date:                                  

The debentures will mature on December 31, 2017

Interest:                                           

12% per year.

Security:                                          

All of the obligations of the Company under the debentures are secured by a movable hypothec on substantially all present and future movable property of the Company.

Conversion:                                     

Each Debenture is convertible in common shares at the option of the holder at any time prior to the close of business on the tenth business day preceding the maturity date at a conversion price (the "Conversion Price") of $0.23 per share. Holders who convert their debentures will receive accrued interest in addition to a make-whole payment equal to the interest amount that such holder would have received if such holder had held the debentures until the maturity date. The Company will pay the make-whole amount (if any) in common shares at the higher of the Conversion Price and the prevailing market price upon payment of the make-whole amount.

Offre :                                             

Le placement consiste en un minimum de 1 250 000 $ d'unités (les « unités ») et un maximum de 2 000 000 $ d'unités. Chaque unité inclut 1 000 $ de montant en capital de débentures convertibles garanties 12% et 4 348 bons de souscription. Chaque bon de souscription permet au détenteur d'acquérir une action ordinaire au prix de 0,24 $ jusqu'au 31 décembre 2017.

Prix d'offre:                                     

1 000 $ par unité.

Prix d'exercice des bons:                 

0,24 $ par action jusqu'au 31 décembre 2017.

Agent:                                             

Euro Pacific Canada Inc.

Commission à l'agent :                    

Un maximum de 6 % du produit total payable en espèces et des bons de courtier non-transférables permettant de souscrire un nombre d'actions ordinaires égal à 6% du nombre d'actions ordinaires pouvant être émises lors de la conversion des débentures vendues, chaque bon de courtier permettant de souscrire une action ordinaire au prix de 0,24 $ par action ordinaire jusqu'au 30 juin 2017.

Option d'attribution excédentaire :    

L'agent a reçu une option d'attribution excédentaire, exerçable pendant une période de 30 jours suivant la clôture, permettant de souscrire un nombre d'unités additionnelles égale à 15% du nombre d'unités visées par le placement (représentant un maximum de 300 unités additionnelles).

Détails des débentures:

Date d'échéance :                            

Les débentures viendront à échéance le 31 décembre 2017.

Taux d'intérêt :                                  

12% par année.

Sûreté :                                             

Les obligations de la société aux termes des débentures sont garanties par une hypothèque grevant la quasi-totalité des biens meubles actuels et futurs de la société.

Conversion :                                     

Chaque débenture est convertible en actions ordinaires à l'option du détenteur en tout temps avant la fermeture des affaires le dixième jour précédant la date d'échéance à un prix de conversion (le « prix de conversion ») de 0,23 $ par action. Les détenteurs qui convertissent leurs débentures recevront les intérêts accumulés en plus d'un paiement global (le « montant global ») égal au montant d'intérêt que le détenteur aurait reçu si ce détenteur avait détenu les débentures jusqu'à la date d'échéance. La société paiera le montant global (si applicable) en actions ordinaires au plus élevé du prix de conversion et le cours en vigueur lors du paiement du montant global.

Number of Shares:                                         

15,333,800 flow-through common shares

Purchase Price:                                             

$0.10 per flow-through common share

Number of Placees:                                        

6 Placees

Insider / Pro Group Participation:

Insider = Y /                                                                                          

Number

Name                                                             

Pro Group = P                                                                                  

of Shares

Jeffrey York                                                    

Y                                                                                                         

1,000,000

Finders:                                                           

Secutor Capital Management Corp. and Marquest Capital Markets

Finders' Fees:                                                 

An aggregate of $114,670.40 in cash and 1,146,704 non-transferable

warrants (each exercisable into one common share at a price of $0.10

for 24 months following closing).

Nombre d'actions :                                         

15 333 800 actions ordinaires accréditives

Prix :                                                              

0,10 $ par action ordinaire accréditive

Nombre de souscripteurs :                              

6 souscripteurs

Participation initié / Groupe Pro :

Initié = Y /                                                                                                

Nombre

Nom                                                                

Groupe Pro = P                                                                                    

 d'actions

Jeffrey York                                                     

Y                                                                                                           

1 000 000

Intermédiaires :                                               

Secutor Capital Management Corp. et Marquest Capital Markets

Honoraires des intermédiaires :                       

Un total de 114 670,40 $ en espèces et 1 146 704 bons de souscription

non-transférables, chacun permettant d'acquérir une action ordinaire

de la société au prix de 0,10 $ l'action pendant une période de 24 mois

suivant la date de clôture.

Number of Shares:                                         

6,386,250 shares

Purchase Price:                                             

$0.08 per share

Warrants:                                                       

6,386,250 share purchase warrants to purchase 6,386,250 shares

Warrant Exercise Price:                                  

$0.15 for a one year period

$0.20 in the second year

Number of Placees:                                         

17 Placees

Insider / Pro Group Participation:

Insider=Y /

Name                                                              

ProGroup=P                                                                                          

# of Shares

Gary Musil                                                       

Y                                                                                                                     

55,000

Victor Bryant                                                   

Y                                                                                                                    

100,000

Finder's Fee:                                                 

$1,920 payable to 360 Aviation Services Inc. (Pamela Smith-Gander)

$8,000 payable to Melissa Loucks

Private Placement:

# of Warrants:                                                     

5,345,000

Original Expiry Date of Warrants:                         

February 4, 2016

New Expiry Date of Warrants:                               

February 4, 2017

Exercise Price of Warrants:                                  

$0.15

SECOND TRANCHE:

Convertible Debenture:                                     

Conversion Price:                                             

Convertible into 4,000,000 units consisting of one common share and

one common share purchase warrant at $0.05 per unit if converted in

the first year and $0.10 per unit if converted after the first year. 

Maturity date:                                                     

Five years from date of issuance.

Warrants:                                                          

Any units converted within the first year shall have warrants exercisable

at $0.05 per common share.  Each unit that is converted after the first

year shall have warrants having an exercise price of $0.10 per common

share.  Each warrant will have an exercise term of two years subject to

the proviso that all warrants shall expire on the 5^th anniversary of the

issuance date. 

Interest rate:                                                      

10%

Number of Placees:                                           

5 Placees

Insider / Pro Group Participation:

Insider=Y /

Name                                                                

ProGroup=P                                                                                               

Amount

Chris Anderson                                                 

Y                                                                                                                  

Number of Shares:                                                        

9,000,000 shares

Purchase Price:                                                            

$0.08 per share

Number of Placees:                                                       

5 Placees

Insider / Pro Group Participation:

Insider=Y /

Name                                                                             

ProGroup=P                                                                      

# of Shares

Arnold T. Kondrat                                                          

Y                                                                                            

7,100,000