Extension And Modification To The TSX Venture Exchange’s Temporary Relief From Certain Pricing Requirements

On August 17, 2012 the TSX Venture Exchange (TSXV) published a bulletin entitled Private Placements – Temporary Relief from Certain Pricing Requirements (Original Bulletin), which provided, on a temporary basis and subject to compliance with the Original Bulletin, the granting of relief to TSXV issuers from certain existing pricing requirements related to private placement financings. These temporary measures (Relief Measures) were effective as of August 17, 2012 and continued until December 31, 2012 (Original Temporary Relief Period). The TSXV issued the Original Bulletin as a result of the current market environment faced by many of its listed issuers and the effect that this was having on their ability to complete financings and maintain and preserve their existing operations, activities and assets. Readers are directed to our firm bulletin dated September 24, 2012 entitled TSX Venture Exchange - Private Placements - Temporary Relief from Certain Pricing