Secutor Capital Management Corporation (the "Agent") was lead agent in connection with the private placement of 5,580,000 Flow-Through Units ("FT Units") and 6,147,795 ordinary Units ("Units") for gross proceeds of $2,686,036. (the "Brokered Private Placement"). In addition, the Company closed a non-brokered private placement of 305,000 FT Units and 325,000 Units for gross proceeds of $144,500.Each FT Unit consists of one flow-through common share and one half of one non flow-through common share purchase warrant in the capital of the Company. Each whole share purchase warrant (a "Warrant") is exercisable into one common share of the Company for a period of 12 months from closing at a price of $0.30 per common share.Each Unit consists of one common share and one Warrant.The Company has granted to the Agent an over-allotment option to increase the size of the offering by 20% of the FT Units and Units that are purchased under the private placement. The option is exercisable in whole or in part for a period of 30 days from closing on the same terms as set forth above solely to cover over-allotment.The Company has paid to the Agent a cash commission of 8% of the gross sales of FT Units and Units issued under the Brokered Private Placement and issued to the Agent compensation options equal to 8% of the number of FT Units and Units sold under the Brokered Private Placement, with each compensation option being exercisable for 12 months. The compensation options issued in respect of the FT Units are exercisable at $0.25 per share and those in respect of the Units are exercisable at $0.21 per share.