**POLYMET      MINING CORP.**

**PRIVATE      PLACEMENT SUBSCRIPTION AGREEMENT (CANADA)**

**INSTRUCTIONS      TO PURCHASER**

| 1.        | All                purchasers complete all the information in the boxes on page and                sign where indicated with an “**X**”. |
|----------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.        |  If                you are an “accredited investor”, then complete Schedule “A”, the                “Accredited Investor Questionnaire” that starts on page .                The purpose of the questionnaire is to determine whether you meet                the                standards for participation in a private placement under National                Instrument 45-106. |
|----------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.        | If                you are a portfolio manager or you are not an individual (that is,                the                Purchaser is a corporation, partnership, trust or entity other than                an                individual), then complete and sign the “Corporate Placee Registration                Form” (Form 4C) that starts on page                10. |
|----------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.        | On                or before the end of the fifth business day before the Closing Date                as                defined under the Terms, the Purchaser will deliver to the Issuer                the                Subscription Agreement and all applicable schedules and required                forms,                duly executed, and payment in full for the total price of the Purchased                Securities to be purchased by the Purchaser, by wire transfer, certified                funds or bank drafts as follows: |
|----------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | **(i)** | Cheques                  and bank drafts to be made payable to: **PolyMet                  Mining Corp.** |
|--|---------|-----------------------------------------------------------------------------------------------------------|

|  | **(ii)** | Wire                  transfers to be forwarded to: |
|--|----------|-----------------------------------------------------|

|  | **Account              name:** | **PolyMet                Mining Corp.** |
|--|--------------------------------|-----------------------------------------|

|  | **Bank:** | **Royal                Bank of Canada** |
|--|-----------|-----------------------------------------|

**6400      No.      3 Road,**

**Richmond,      B.C.,**

**V6Y      2C2**

|  | **Transit              #:** | **4800** |
|--|-----------------------------|----------|

|  | **Account#:** | **1054451** |
|--|---------------|-------------|

|  | **Swift              Code:** | **ROYCCAT                2** |
|--|------------------------------|------------------------------|

|  | **ABA#:** | **021                0000021** |
|--|-----------|--------------------------------|

|   | **ALL                SUBSCRIPTION AGREEMENTS, APPLICABLE, SCHEDULES, REQUIRED FORMS AND                PAYMENTS TO BE FORWARDED                TO:** |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------|

**POLYMET      MINING CORP.**

**2350      - 1177 WEST HASTINGS STREET**

**VANCOUVER,      BRITISH COLUMBIA, CANADA V6E 2K3**

----

**This      is      page of      22      pages of a subscription agreement and related appendixes, schedules and forms.      Collectively, these pages together are referred to as the “Subscription      Agreement”.**

**UNIT          NON-BROKERED PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT**

| TO:      | **PolyMet                Mining Corp.**                (the “Issuer”), of Suite 2350 - 1177 West Hastings Street, Vancouver,                British Columbia, V6E 2K3 |
|-----------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                                                                                                                   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------|
| __________________________ Units                                                                                                             |
|                                                                                                                                                   |
| **$1.40**                  per Unit  for a total purchase price of $                  ___________________________________________________________ |
|                                                                                                                                                   |
| The                  Purchaser owns, directly or indirectly, the following securities                  of the                  Issuer:                 |
|  _________________________________________________________________________________                                                                |
| **[Check                  if applicable]**The                  Purchaser is  o an                  insider of the Issuer                     |

|                                             |   |                                                       |
|--------------------------------------------------|--------|------------------------------------------------------------|
| **REGISTRATION                  INSTRUCTIONS**   |   | **DELIVERY                  INSTRUCTIONS**                 |
|                                             |   |                                                       |
| Name                  to appear on certificate   |   | Name                  and account reference, if applicable |
|                                             |   |                                                       |
| Account                  reference if applicable |   | Contact                  name                              |
|                                             |   |                                                       |
| Address                                          |   | Address                                                    |
|                                             |   |                                                       |
|                                             |   | Telephone                  Number                          |

**EXECUTED      by the Purchaser this _______ day of _____________, 2005. By executing this      Subscription Agreement, the Purchaser certifies that the Purchaser and any      beneficial purchaser for whom the Purchaser is acting is resident in the      jurisdiction shown as the “Address of Purchaser”.**

|                                                           |   |                                                                                                                             |
|----------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------------------------|
| **WITNESS:**                                                   |   | **EXECUTION                  BY PURCHASER:**                                                                                     |
|                                                           |   | X                                                                                                                                |
| Signature                  of Witness                          |   | Signature                  of individual (if Purchaser **is**                  an                  individual)                   |
|                                                           |   | X                                                                                                                                |
| Name                  of Witness                               |   | Authorized                  signatory (if Purchaser **is                  not**                  an                  individual) |
|                                                           |   |                                                                                                                             |
| Address                  of Witness                            |   | Name                  of Purchaser (**please                  print**)                                                           |
|                                                           |   |                                                                                                                             |
|                                                           |   | Name                  of authorized signatory (**please                  print**)                                                |
| Accepted                  this _____ day of ____________, 2005 |   |                                                                                                                             |
| **POLYMET                  MINING CORP.**.                     |   | Address                  of Purchaser (residence)                                                                                |
| Per:                                                           |   |                                                                                                                             |
|                                                           |   | Telephone                  Number                                                                                                |
| Authorized                  signatory                          |   |                                                                                                                             |
|                                                           |   | E-mail                  address                                                                                                  |

----

| **Subscription                  Agreement (with related appendixes, schedules and                  forms)** | **Page                2 ****of                15 pages** |
|-------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------|

**TERMS**

| **Reference                date of this Subscription Agreement** | September                21, 2005 (the “Agreement Date”) |
|------------------------------------------------------------------|----------------------------------------------------------------------|

**The      Offering**

| **The                Issuer**            | POLYMET                MINING CORP. (the “Issuer”)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| **Offering**                             | The                offering consists of up to an aggregate of 4,000,000 units of the                Issuer                (the “Units”).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|                                     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| **Purchased                Securities**  | The “Purchased                Securities” are Units. Each Unit consists of one previously unissued                common share, as presently constituted (a “Share”) and one-half of                one non-transferable share purchase warrant (a “Warrant”) of the                Issuer. One whole Warrant will entitle the holder, on exercise, to                purchase one additional common share of the Issuer (a “Warrant                Share”) at a price of $2.00                per Warrant Share at any time until the close of business on the                day which                is 18 months from the date of Closing,**provided that if the closing price of the Issuer’s shares as traded on the                TSX Venture Exchange (the “Exchange”) is at or exceeds $2.50 per share for                20 consecutive trading days, the Issuer has the right to accelerate                the                expiry date of the Warrants upon 30 days notice to holders thereof.** |
|                                     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| **Total                amount**          | Up                to **$                __________________**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|                                     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| **Price**                                | **$1.40**                per Unit                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|                                     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| **Warrants**                             | The                Warrants will be issued and registered in the name of the                purchasers. The                certificates representing the Warrants will, among other things,                include                provisions for the appropriate adjustment in the class, number and                price                of the Warrant Shares issued upon exercise of the Warrants upon the                occurrence of certain events, including any subdivision, consolidation                or                reclassification of the Issuer’s common shares, the payment of stock                dividends and the amalgamation of the Issuer. The                issue of the Warrants will not restrict or prevent the Issuer from                obtaining any other financing, or from issuing additional securities                or                rights, during the period within which the Warrants may be                exercised.                                                                                                                 |
|                                     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| **Use                of Proceeds**       | The                proceeds of the placement will be utilized to advance the technical                program on the NorthMet Project and to provide working                capital.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|                                     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| **Selling                Jurisdictions** | The                Units may be sold in British Columbia, Alberta, Ontario and in certain                jurisdictions outside Canada as solely determined by the Company                in                accordance with available exemptions (the “Selling                Jurisdictions”).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|                                     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| **Exemptions**                           | The                offering will be made in Canada in accordance with the following                exemption                from the prospectus requirements:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |

|   | (a) | the                  “accredited investor” exemption (section 2.3(2) of National                  Instrument 45-106). |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------|

----

| **Subscription                  Agreement (with related appendixes, schedules and                  forms)** | **Page 3 ****of                15 pages** |
|-------------------------------------------------------------------------------------------------------------|-----------------------------------------------------|

| **Resale                restrictions and legends** | Pursuant                to Multilateral Instrument 45-102, the Purchased Securities will                be                subject to a four month hold period that starts to run on                Closing. The                Purchaser acknowledges that the certificates representing the Purchased                Securities will bear the following legends: “Unless                permitted under securities legislation, the holder of the securities                shall                not trade the securities before [date that is four months and a day                after                the Closing.]” “Without                prior written approval of the TSX Venture Exchange and compliance                with all                applicable securities legislation, the securities represented by                this                certificate may not be sold, transferred, hypothecated or otherwise                traded                on or through the facilities of the TSX Venture Exchange or otherwise                in                Canada or to or for the benefit of a Canadian resident until [date                that is                four months and a day after the Closing].” Purchasers                are advised to consult with their own legal counsel or advisors to                determine the resale restrictions that may be applicable to                them.  |
|----------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| **Closing                Date**                    | Payment                for, and delivery of, the Units is scheduled to occur 48 hours after                TSX                Venture Exchange acceptance of the placement for filing (the “Closing                Date”).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| **Additional                definitions**          | In                the Subscription Agreement, the following words have the following                meanings unless otherwise indicated: (a)                    “Purchased                Securities” means the Units purchased under this Subscription                Agreement; (b)                      “Securities”                means the Shares, the Warrants and the Warrant Shares; (c)                      “Warrants”                includes the certificates representing the                Warrants.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |

**The      Issuer**

| **Jurisdiction                of organization**                                  | The                Issuer is incorporated under the laws of British                Columbia.                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|----------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| **Stock                exchange listings**                                       | Shares                of the Issuer are listed on the TSX Venture Exchange                (the “Exchange”).                                                                                                                                                                                                                                                                                                                                                                                                                 |
|                                                                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| **“Securities                Legislation Applicable to the Issuer”** | The                “Securities Legislation Applicable to the Issuer” is the *Securities                Act*                (British Columbia), the *Securities                Act*                (Alberta) and the *Securities                Act*                Ontario. The “Commissions                with Jurisdiction over the Issuer”                are the British Columbia Securities Commission, the Alberta Securities                Commission and the Ontario Securities                Commission. |

----

| **Subscription                  Agreement (with related appendixes, schedules and                  forms)** | **Page 4 ****of                15 pages** |
|-------------------------------------------------------------------------------------------------------------|-----------------------------------------------------|

SCHEDULE      “A”

| ____                Category 1  | a                Canadian financial institution, or an authorized foreign bank listed                in                Schedule III of the *Bank                Act*(Canada)                                                                                                                                                                                                                                                                                  |
|---------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| ____                Category 2  | the                Business Development Bank of Canada incorporated under the *Business                Development Bank of Canada Act*(Canada)                                                                                                                                                                                                                                                                                                                |
|                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| ____                Category 3  | a                subsidiary of any person or company referred to in Categories 1 or 2,                if the person or company owns all of the voting securities of the                subsidiary, except the voting securities required by law to be owned                by                directors of that subsidiary                                                                                                                                |
|                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| ____                Category 4  | a                person or company registered under the securities legislation of                a                jurisdiction of Canada, as an adviser or dealer, other than a person                registered solely as a limited market dealer under one or both of                the                *Securities                Act*(Ontario)                or the *Securities                Act*(Newfoundland                and Labrador)            |
|                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| ____                Category 5  | an                individual registered or formerly registered under the securities                legislation of a jurisdiction of Canada, as a representative of a                person                or company referred to in Category 4                                                                                                                                                                                                           |
|                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| ____                Category 6  | the                Government of Canada or a jurisdiction of Canada, or any crown                corporation, agency or wholly owned entity of the government of Canada                or                a jurisdiction of Canada                                                                                                                                                                                                                             |
|                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| ____                Category 7  | a                municipality, public board or commission in Canada and a metropolitan                community, school board, the Comite de gestion de la taxe scolaire                de                L’ile de Montreal or an intermunicipal management board in                Quebec                                                                                                                                                              |
|                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| ____                Category 8  | any                national, federal, state, provincial, territorial or municipal government                of or in any foreign jurisdiction, or any agency of that                government                                                                                                                                                                                                                                                                |
|                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| ____                Category 9  | a                pension fund that is regulated by either the Office of the Superintendent                of Financial Institutions (Canada) or a pension commission or similar                regulatory authority of a jurisdiction of Canada                                                                                                                                                                                                               |
|                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| ____                Category 10 | an                individual who, either alone or with a spouse, beneficially owns,                directly                or indirectly, financial assets having an aggregate realizable value                that                before taxes, but net of any related liabilities, exceeds                $1,000,000                                                                                                                                        |
|                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| ____                Category 11 | an                individual whose net income before taxes exceeded $200,000 in each                of the                two most recent calendar years or whose net income before taxes combined                with that of a spouse exceeded $300,000 in each of the two most recent                calendar years and who, in either case, reasonably expects to exceed                that                net income level in the current calendar year |
|                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| ____                Category 12 | a                person, other than an individual or investment fund, that, has net                assets                of at least $5,000,000 as shown on its most recently prepared financial                statements                                                                                                                                                                                                                                    |

----

| **Subscription                  Agreement (with related appendixes, schedules and                  forms)** | **Page 5 ****of                15 pages** |
|-------------------------------------------------------------------------------------------------------------|-----------------------------------------------------|

| ____                Category 13 | an                investment fund that distributes or has distributed its securities                only                to: |
|---------------------------------|-----------------------------------------------------------------------------------------------------------------------------|

|   | (a)    | a                person that is or was an accredited investor at the time of the                distribution;                                                                                                                                                                                  |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                                                                                           |
|   | (b)    | a                person that acquires or acquired securities in the circumstances                referred                to in sections 2.10 [*Minimum                Amount Investment*],                and 2.19 [*Additional                Investment in Mutual Funds*],                or |
|   |   |                                                                                                                                                                                                                                                                                           |
|   | (c)    | a                person described in paragraph (i) or (ii) that acquires or acquired                securities under section 2.18 [*Investment                Fund Reinvestmen*t]                                                                                                              |

| ____                Category 14 | an                investment fund that distributes or has distributed securities under                a                prospectus in a jurisdiction of Canada for which the regulator or,                in the                case of Quebec, the securities regulatory authority, has issued a                receipt                                                                                                                                                                             |
|---------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| ____                Category 15 | a                trust company or trust corporation registered or authorized to carry                on                business under the *Trust                and Loan Companies Act*                (Canada) or under comparable legislation in a jurisdiction of Canada                or a                foreign jurisdiction, acting on behalf of a fully managed account                managed                by the trust company or trust corporation, as the case may                be |

| ____                Category 16 | a                person acting on behalf of a fully managed account managed by that                person,                if that person:    |
|---------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  |  (a) | is                  registered or authorized to carry on business as an adviser or                  the                  equivalent under the securities legislation of a jurisdiction of                  Canada or                  a foreign jurisdiction, and |
|--|-----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  |   |   |
|--|--------|--------|

|  |  (b) | in                Ontario, is                purchasing a security that is not a security of an investment                fund; |
|--|-----------|---------------------------------------------------------------------------------------------------------------------------------|

| ____                Category 17 | a                registered charity under the *Income                Tax Act*                (Canada) that, in regard to the trade, has obtained advice from an                eligibility adviser or an adviser registered under the securities                legislation of the jurisdiction of the registered charity to give                advice                on the securities being traded |
|---------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                            |                                                                                                                                                                                                                                                                                                                                                                                                  |
| ____                Category 18 | an                entity organized in a foreign jurisdiction that is analogous to any                of the                entities referred to in Categories 1 through 4 and Category 9 in                form and function, or                                                                                                                                                            |
|                            |                                                                                                                                                                                                                                                                                                                                                                                                  |
| ____                Category 19 | a                person in respect of which all of the owners of interests, direct                or                indirect or beneficial, except the voting securities required by                law to be                owned by directors, are persons or companies that are accredited                investors                                                                                |
|                            |                                                                                                                                                                                                                                                                                                                                                                                                  |
| ____                Category 20 | an                investment fund that is advised by a person registered as an adviser                or a                person that is exempt from registration as an adviser,                or                                                                                                                                                                                                    |
|                            |                                                                                                                                                                                                                                                                                                                                                                                                  |
| ____                Category 21 | a                person that is recognized or designated by the securities regulatory                authority or, except in Ontario and Quebec, the regulator as: (a)  an                accredited investor, or (b)  an                exempt purchaser in Alberta or British                Columbia.                                                                |

----

| **Subscription                  Agreement (with related appendixes, schedules and                  forms)** | **Page 6 ****of                15 pages** |
|-------------------------------------------------------------------------------------------------------------|-----------------------------------------------------|

|   |   | **X**                                                                                                     |
|--------|--------|-----------------------------------------------------------------------------------------------------------|
|   |   | Signature                of individual (if Purchaser **is**an                individual)                  |
|   |   |                                                                                                      |
|   |   | **X**                                                                                                     |
|   |   | Authorized                signatory (if Purchaser is **not**                an                individual) |
|   |   |                                                                                                      |
|   |   | Name                of Purchaser (**please                print**)                                        |
|   |   |                                                                                                      |
|   |   | Name                of authorized signatory (**please                print**)                             |
|   |   |                                                                                                      |
|   |   | Official                capacity of authorized signatory (**please                print**)                |

|  | (a)     | "**financial                assets**"                means cash, securities and a contract of insurance, a deposit or                an                evidence of a deposit that is not a security for the purposes of                securities legislation; |
|--|-----------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (b)    | "**related                liabilities**"                means: |
|--|-----------------------|----------------------------------------------------------------|

|  | (i)    | liabilities                incurred or assumed for the purpose of financing the acquisition                or                ownership of financial assets; or |
|--|-----------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (ii)   | liabilities                that are secured by financial                assets. |
|--|------------------|---------------------------------------------------------------------------------|

**4C**

**CORPORATE      PLACEE REGISTRATION FORM**

|  | 1. | Placee                Information: |
|--|----|------------------------------------|

|  | (a) | Name:                _______________________________________________________________________ |
|--|-----|----------------------------------------------------------------------------------------------|

|  | (b) | Complete                Address:                _____________________________________________________________ |
|--|-----|---------------------------------------------------------------------------------------------------------------|

|  | (c) | Jurisdiction                of Incorporation or Creation:                ____________________________________________ |
|--|-----|-----------------------------------------------------------------------------------------------------------------------|

|  | 2. | Portfolio                Manager |
|--|----|----------------------------------|

|  | (a) | Is                the Placee purchasing securities as a portfolio manager                (Yes/No)?_______________________ |
|--|-----|---------------------------------------------------------------------------------------------------------------------------|

|  | (b) | Is                the Placee carrying on business as a portfolio manager outside of                Canada                (Yes/No)? ________ |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------|

|  | 3. | If                the answer to 2(b) above was “Yes”, the undersigned certifies                that: |
|--|----|------------------------------------------------------------------------------------------------------------------|

----

| **Subscription                  Agreement (with related appendixes, schedules and                  forms)** | **Page 7 ****of                15 pages** |
|-------------------------------------------------------------------------------------------------------------|-----------------------------------------------------|

|  | (a) | It                is purchasing securities of an Issuer on behalf of managed accounts                for                which it is making the investment decision to purchase the securities                and                has full discretion to purchase or sell securities for such accounts                without requiring the client’s express consent to a                transaction; |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (b) | it                carries on the business of managing the investment portfolios of                clients                through discretionary authority granted by those clients (a “portfolio                manager” business) in ____________________ [jurisdiction], and it is                permitted by law to carry on a portfolio manager business in that                jurisdiction; |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (c) | it                was not created solely or primarily for the purpose of purchasing                securities of the Issuer; |
|--|-----|------------------------------------------------------------------------------------------------------------------------------|

|  | (d) | the                total asset value of the investment portfolios it manages on behalf                of                clients is not less than $20,000,000;                and |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (e) | it                has no reasonable grounds to believe, that any of the directors,                senior                officers and other insiders of the Issuer, and the persons that carry                on                investor relations activities for the Issuer has a beneficial interest                in                any of the managed accounts for which it is                purchasing |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.   | If                the answer to 2(a). above was “No”, please provide the names and addresses                of control persons of the Placee: |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|

| **Name** | **City** | **Province                or State** | **Country** |
|----------|----------|--------------------------------------|-------------|
|     |     |                                 |        |
|     |     |                                 |        |
|     |     |                                 |        |
|     |     |                                 |        |

*Securities      Act *
*Securities      Act *

**Acknowledgement      - Personal Information**

|  | (a) | the                  disclosure of Personal Information by the undersigned to the Exchange                  (as                  defined in Appendix 6B) pursuant to this Form;                  and |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (b) | the                  collection, use and disclosure of Personal Information by the Exchange                  for                  the purposes described in Appendix 6B or as otherwise identified                  by the                  Exchange, from time to time. |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   | **X**                                                                                                     |
|--------|--------|-----------------------------------------------------------------------------------------------------------|
|   |   | Signature                of individual (if Purchaser **is**an                individual)                  |
|   |   |                                                                                                      |
|   |   | **X**                                                                                                     |
|   |   | Authorized                signatory (if Purchaser is **not**                an                individual) |

----

| **Subscription                  Agreement (with related appendixes, schedules and                  forms)** | **Page 8 ****of                15 pages** |
|-------------------------------------------------------------------------------------------------------------|-----------------------------------------------------|

|   |   |                                                                                       |
|--------|--------|--------------------------------------------------------------------------------------------|
|   |   | Name                of Purchaser (**please                print**)                         |
|   |   |                                                                                       |
|   |   | Name                of authorized signatory (**please                print**)              |
|   |   |                                                                                       |
|   |   | Official                capacity of authorized signatory (**please                print**) |

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| **Subscription                  Agreement (with related appendixes, schedules and                  forms)** | **Page 9 ****of                15 pages** |
|-------------------------------------------------------------------------------------------------------------|-----------------------------------------------------|

**GENERAL        PROVISION**
**S**

**1.**
**DEFINITIONS**

|   | (a) | “Applicable                  Legislation” means the Securities Legislation Applicable to the Issuer (as                  defined on page )                  and all legislation incorporated in the definition of this term                  in other                  parts of the Subscription Agreement, together with the regulations                  and                  rules made and promulgated under that legislation and all administrative                  policy statements, blanket orders and rulings, notices and other                  administrative directions issued by the                  Commissions; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | “Closing”                  means the completion of the sale and purchase of the Purchased                  Securities; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | “Closing                  Date” has the meaning assigned in the                  Terms; |
|--------|-----|-----------------------------------------------------------------------------------------------------|

|   | (d) | “Commissions”                  means the Commissions with Jurisdiction over the Issuer (as defined                  on                  page )                  and the securities commissions incorporated in the definition of                  this term                  in other parts of the Subscription                  Agreement; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | “Exchange”                  has the meaning assigned in the                  Terms; |
|--------|-----|-------------------------------------------------------------------------------------------------|

|   | (f) | “Final                  Closing” means the last closing under the Private                  Placement; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------|

|   | (g) | “General                  Provisions” means those portions of the Subscription Agreement headed                  “General Provisions” and contained on pages 17 to                  22, |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (h) | “Private                  Placement” means the offering of the Purchased Securities on the terms and                  conditions of this Subscription                  Agreement; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | “Purchased                  Securities” has the meaning assigned in the                  Terms; |
|--------|-----|-------------------------------------------------------------------------------------------------------------|

|   | (j) | “Regulatory                  Authorities” means the Commissions and the                  Exchange; |
|--------|-----|----------------------------------------------------------------------------------------------------------------|

|   | (k) | “Securities”                  has the meaning assigned in the                  Terms; |
|--------|-----|---------------------------------------------------------------------------------------------------|

|   | (l) | “Subscription                  Agreement” means the first (cover) page, the Terms on pages to                  ,                  the General Provisions 17 to 22, and the other schedules and appendixes                  incorporated by reference; and |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (m) | “Terms”                  means those portions of the Subscription Agreement headed “Terms” and                  contained on pages to                  . |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**2.**
**REPRESENTATIONS        AND WARRANTIES OF PURCHASER**

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| **Subscription                  Agreement (with related appendixes, schedules and                  forms)** | **Page 10 ****of                15 pages** |
|-------------------------------------------------------------------------------------------------------------|------------------------------------------------------|

|   | (a) | no                  securities commission or similar regulatory authority has reviewed                  or                  passed on the merits of the                  Securities; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | there                  is no government or other insurance covering the                  Securities; |
|--------|-----|------------------------------------------------------------------------------------------------------|

|   | (c) | there                  are risks associated with the purchase of the                  Securities; |
|--------|-----|---------------------------------------------------------------------------------------------------|

|   | (d) | there                  are restrictions on the Purchaser’s ability to resell the Securities and                  it is the responsibility of the Purchaser to find out what those                  restrictions are and to comply with them before selling the                  Securities; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | the                  Issuer has advised the Purchaser that the Issuer is relying on                  an                  exemption from the requirements to provide the Purchaser with a                  prospectus                  and to sell securities through a person registered to sell securities                  under the Applicable Legislation and, as a consequence of acquiring                  securities pursuant to this exemption, certain protections, rights                  and                  remedies provided by the Applicable Legislation, including statutory                  rights of rescission or damages, will not be available to the                  Purchaser; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | no                  prospectus has been filed by the Issuer with the Commissions in                  connection                  with the issuance of the Purchased Securities, the issuance is                  exempted                  from the prospectus and registration requirements of the Applicable                  Legislation and: |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | the                  Purchaser is restricted from using most of the civil remedies available                  under the Applicable Legislation; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | the                  Purchaser may not receive information that would otherwise be required                  to                  be provided to the Purchaser under the Applicable Legislation;                  and |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | the                  Issuer is relieved from certain obligations that would otherwise                  apply                  under the Applicable Legislation; |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | to                  the best of the Purchaser’s knowledge, the Securities were not                  advertised; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------|

|   | (b) | no                  person has made to the Purchaser any written or oral                  representations: |
|--------|-----|------------------------------------------------------------------------------------------------------------|

|   | (i) | that                  any person will resell or repurchase the                  Securities; |
|--------|-----|---------------------------------------------------------------------------------------------|

|   | (ii) | that                  any person will refund the purchase price of the Purchased                  Securities; |
|--------|------|---------------------------------------------------------------------------------------------------------------|

|   | (iii) | as                  to the future price or value of any of the Securities;                  or |
|--------|-------|------------------------------------------------------------------------------------------------|

|   | (iv) | that                  any of the Securities will be listed and posted for trading on                  a stock                  exchange or that application has been made to list and post any                  of the                  Securities for trading on any stock exchange other than the Shares                  and                  Warrant Shares on the Exchange; |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | the                  Purchaser is at arm’s length (as that term is customarily defined) with                  the Issuer; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | the                  Purchaser (or others for whom it is contracting hereunder) has                  been                  advised to consult its own legal and tax advisors with respect                  to                  applicable resale restrictions and tax considerations, and it (or                  others                  for whom it is contracting hereunder) is solely responsible for                  compliance                  with applicable resale restrictions and applicable tax                  legislation; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| **Subscription                  Agreement (with related appendixes, schedules and                  forms)** | **Page 11 ****of                15 pages** |
|-------------------------------------------------------------------------------------------------------------|------------------------------------------------------|

|   | (e) | the                  Purchaser has no knowledge of a “material fact” or “material change” (as                  those terms are defined in the Applicable Legislation) in the affairs                  of                  the Issuer that has not been generally disclosed to the public,                  except                  knowledge of this particular                  transaction; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | the                  offer made by this subscription is irrevocable (subject to the                  Purchaser’s                  right to withdraw the subscription and to terminate the obligations                  as set                  out in this Subscription Agreement) and requires acceptance by                  the Issuer                  and approval of the Exchange; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (g) | the                  Purchaser has the legal capacity and competence to enter into and                  execute                  this Subscription Agreement and to take all actions required pursuant                  to                  the Subscription Agreement and, if the Purchaser is a corporation,                  it is                  duly incorporated and validly subsisting under the laws of its                  jurisdiction of incorporation and all necessary approvals by its                  directors, shareholders and others have been given to authorize                  execution                  of this Subscription Agreement on behalf of the                  Purchaser; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (h) | the                  entering into of this Subscription Agreement and the transactions                  contemplated hereby will not result in the violation of any of                  the terms                  and provisions of any law applicable to, or the constating documents                  of,                  the Purchaser or of any agreement, written or oral, to which the                  Purchaser                  may be a party or by which the Purchaser is or may be                  bound; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | this                  Subscription Agreement has been duly executed and delivered by                  the                  Purchaser and constitutes a legal, valid and binding agreement                  of the                  Purchaser enforceable against the                  Purchaser; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (j) | the                  Purchaser has been independently advised as to the applicable hold                  period                  imposed in respect of the Securities by securities legislation                  in the                  jurisdiction in which the Purchaser resides and confirms that no                  representation has been made respecting the applicable hold periods                  for                  the Securities and is aware of the risks and other characteristics                  of the                  Securities and of the fact that the Purchaser may not be able to                  resell                  the Securities except in accordance with the applicable securities                  legislation and regulatory                  policies; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (k) | the                  Purchaser is capable of assessing the proposed investment as a                  result of                  the Purchaser’s financial and business experience or as a result of advice                  received from a registered person other than the Issuer or any                  affiliates                  of the Issuer; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (l) | if                  required by applicable securities legislation, policy or order                  or by any                  securities commission, stock exchange or other regulatory authority,                  the                  Purchaser will execute, deliver, file and otherwise assist the                  Issuer in                  filing, such reports, undertakings and other documents with respect                  to the                  issue of the Securities as may be required;                  and |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (m) | the                  Purchaser acknowledges that certain persons may receive a commission                  from                  the Issuer in connection with this Private                  Placement. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (n) | the                  Purchaser is not a “control person” of the Issuer as defined in the                  Applicable Legislation, will not become a “control person” by virtue of                  this purchase of any of the Securities, and does not intend to                  act in                  concert with any other person to form a control group of the                  Issuer; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (o) | the                  offer was not made to the Purchaser when he was in the United States                  and                  at the time the Purchaser’s buy order was made, the Purchaser was outside                  the United States; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (p) | the                  Purchaser is not a U.S. Person;                  and |
|--------|-----|--------------------------------------------------------------------------------|

|   | (q) | the                  Purchaser is not and will not be purchasing Units for the account                  or                  benefit of any U.S. Person. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| **Subscription                  Agreement (with related appendixes, schedules and                  forms)** | **Page 12 ****of                15 pages** |
|-------------------------------------------------------------------------------------------------------------|------------------------------------------------------|

**3.**
**REPRESENTATIONS        AND WARRANTIES OF THE ISSUER**

|   | (a) | the                  Issuer and its material subsidiaries, if any, are valid and subsisting                  corporations duly incorporated and in good standing under the laws                  of the                  jurisdictions in which they are incorporated, continued or                  amalgamated; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | the                  Issuer and its material subsidiaries, if any, are duly registered                  and                  licensed to carry on business or own property in the jurisdictions                  in                  which they carry on business or own property where so required                  by the laws                  of that jurisdiction; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | the                  Issuer is authorized to issue **unlimited**                  common shares of which **84,396,206**** **were                  issued as fully paid and non-assessable as of September 15,                  2005; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | the                  Issuer will reserve or set aside sufficient common shares in its                  treasury                  to issue the Shares, and Warrant Shares, |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | the                  issue and sale of the Securities by the Issuer does not and will                  not                  conflict with, and does not and will not result in a breach of,                  any of the                  terms of its incorporating documents or any agreement or instrument                  to                  which the Issuer is a party; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | neither                  the Issuer or its subsidiaries, if any, is a party to any actions,                  suits                  or proceedings which could materially affect its business or financial                  condition, and no such actions, suits or proceedings are contemplated                  or                  have been threatened; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (g) | there                  are no judgments against the Issuer or any of its subsidiaries,                  if any,                  which are unsatisfied, nor are there any consent decrees or injunctions                  to                  which the Issuer or any of its subsidiaries, if any, is                  subject; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (h) | this                  Agreement has been duly authorized by all necessary corporate action                  on                  the part of the Issuer |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | the                  common shares of the Issuer are listed for trading on the Exchange                  and no                  order ceasing, halting or suspending trading in securities of the                  Issuer                  or prohibiting the sale of such securities has been issued to and                  is                  outstanding against the Issuer or its directors, officers or promoters                  or                  against any other companies that have common directors, officers                  or                  promoters and no investigations or proceedings for such purposes                  are                  pending or threatened; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**4.**
**CLOSING**

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| **Subscription                  Agreement (with related appendixes, schedules and                  forms)** | **Page 13 ****of                15 pages** |
|-------------------------------------------------------------------------------------------------------------|------------------------------------------------------|

|   | (a) | the                  representations and warranties made by the Issuer in this Subscription                  Agreement shall be true and correct as of the Closing Date (except                  for                  representations and warranties that speak as of a specific date)                  and the                  covenants of the Issuer shall have been performed, satisfied and                  complied                  with, where applicable, on or before the Closing                  Date; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | the                  Issuer shall have delivered to the Purchaser, or to the direction                  of the                  Purchaser, the following items: |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | a                  copy of this Subscription Agreement duly executed by the                  Issuer. |
|--------|-----|------------------------------------------------------------------------------------------------------|

**5.**
**MISCELLANEOUS**

*Interpretation        Act*

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| **Subscription                  Agreement (with related appendixes, schedules and                  forms)** | **Page 14 ****of                15 pages** |
|-------------------------------------------------------------------------------------------------------------|------------------------------------------------------|

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| **Subscription                  Agreement (with related appendixes, schedules and                  forms)** | **Page 15 ****of                15 pages** |
|-------------------------------------------------------------------------------------------------------------|------------------------------------------------------|

**Acknowledgement        - Personal Information**

|  | (a) | the                  disclosure of Personal Information by the Issuer to the Exchange                  (as                  defined below) and to any applicable securities regulatory authorities;                  and |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (b) | the                  collection, use and disclosure of Personal Information by the Exchange                  for                  the purposes described below or as otherwise identified by the                  Exchange,                  from time to time. |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   | **X**                                                                                                     |
|--------|--------|-----------------------------------------------------------------------------------------------------------|
|   |   | Signature                of individual (if Purchaser **is**an                individual)                  |
|   |   |                                                                                                      |
|   |   | **X**                                                                                                     |
|   |   | Authorized                signatory (if Purchaser is **not**                an                individual) |
|   |   |                                                                                                      |
|   |   | Name                of Purchaser (**please                print**)                                        |
|   |   |                                                                                                      |
|   |   | Name                of authorized signatory (**please                print**)                             |
|   |   |                                                                                                      |
|   |   | Official                capacity of authorized signatory (**please                print**)                |

|    | (a) | to                  conduct background checks; |
|--------------|-----|------------------------------------------------|

|    | (b) | to                  verify the Personal Information that has been provided about each                  individual; |
|--------------|-----|--------------------------------------------------------------------------------------------------------------------|

|    | (c) | to                  consider the suitability of the individual to act as an officer,                  director,                  insider, promoter, investor relations provider or, as applicable,                  an                  employee or consultant, of the Issuer or                  Applicant; |
|--------------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|    | (d) | to                  consider the eligibility of the Issuer or Applicant to list on                  the                  Exchange; |
|--------------|-----|------------------------------------------------------------------------------------------------------------------------------------|

|    | (e) | to                  provide disclosure to market participants as to the security holdings                  of                  directors, officers, other insiders and promoters of the Issuer,                  or its                  associates or affiliates; |
|--------------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|    | (f) | to                  conduct enforcement proceedings; and |
|--------------|-----|----------------------------------------------------------|

|    | (g) | to                  perform other investigations as required by and to ensure compliance                  with                  all applicable rules, policies, rulings and regulations of the                  Exchange,                  securities legislation and other legal and regulatory requirements                  governing the conduct and protection of the public markets in                  Canada. |
|--------------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|    | (a) | to                  the agencies and organizations in the preceding paragraph, or as                  otherwise                  permitted or required by law, and they may use it in their own                  investigations for the purposes described above;                  and |
|--------------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|    | (b) | on                  the Exchange’s website or through printed materials published by or                  pursuant to the directions of the                  Exchange. |
|--------------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**END        OF GENERAL PROVISIONS**

**END        OF SUBSCRIPTION AGREEMENT**

----