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Message: Exchange Discretion

As you can see below, from the Corporate Finance Manual for the TSX Venture, intervention is quite possible by the Exchange in the course of public interest and in uniques situations, perhaps like ours. They have an authority to do so.

4. Exchange Discretion

4.1 The policies of the Exchange have been put in place to serve as guidelines to Issuers

seeking a listing on the Exchange and their professional advisers. However, the

Exchange reserves the right to exercise its discretion in its application of these policies.

The Exchange may waive or modify an existing requirement or impose additional

requirements in applying its discretion. It may also take into consideration the public

interest and any facts or situations unique to a particular party. Issuers are reminded that

listing on the Exchange is a privilege and not a right. The Exchange may grant or deny

an application, including an Application for Listing, notwithstanding the published

policies of the Exchange.

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