The following is from the Q3 financials.

b) Financing
The following numbers reflect the stock split of July 10, 2007.

On November 22, 2006, the Company completed a private placement of 8,000,000 common
shares at $9.375 per share for gross proceeds of $75,000,000. In connection therewith,
200,000 broker warrants were issued. Each broker warrant entitles the holder to purchase
one common share at $9.375 per share until November 22, 2007. The fair value of these
purchase warrants was $4.06 per warrant, estimated using the Black-Scholes model with
the following assumptions: stock price of $9.375, a one year expected term, 100%
volatility, risk-free interest rate of 4.5%, and an expected dividend yield of 0%.

As these warrants represent a cost of equity, their full Black-Scholes fair value of $811,450
was charged to common shares. As at September 30, 2007, 200,000 warrants remain
outstanding.

They expired yesterday.