**EXHIBIT      3.2**

**NOVATEL      INC.**

**AMENDED**
**      BY-LAW NO. 1**

**DEFINITIONS**

| 1.   | In                this by-law and all other by-laws of the Corporation, unless the                context                otherwise specifies or requires: |
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| **a.  ** | **"Act"**                means the *Canada                Business Corporations Act*,                as from time to time amended, and every statute that may be substituted                therefor and, in the case of such amendment or substitution, any                reference                in the by-laws of the Corporation shall be read as referring to the                amended or substituted provisions                therefor; |
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| **b.  ** | **"by-laws"**                means any by-law of the Corporation from time to time in force and                effect; |
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| c.   | all                terms contained in the by-laws which are defined in the Act shall                have the                meanings given to such terms in the                Act; |
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| d.   | words                importing the singular number only shall include the plural and                vice-versa; words importing the masculine gender shall include the                feminine and neuter genders; words importing persons include individuals,                bodies corporate, partnerships, trusts and unincorporated                organizations; |
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| e.   | the                headings used in the by-laws are inserted for reference purposes                only and                are not to be considered or taken into account in construing the                terms or                provisions thereof or to be deemed in any way to clarify, modify                or                explain the effect of any such terms or                provisions. |
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**REGISTERED      OFFICE**

| 2.   | The                Corporation may from time to time by resolution of the directors,                change                the address of the registered office of the Corporation within the                province specified in its articles. |
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**SEAL**

| 3.   | The                Corporation may, but need not, have a corporate seal. An instrument                or                agreement executed on behalf of the Corporation by a director, an                officer                or an agent of the Corporation is not invalid merely because the                corporate                seal, if any, is not affixed                thereto. |
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**DIRECTORS**

| *4.  * | *Number                and powers.*                The number of directors, or the minimum and maximum number of directors                of                the Corporation, is set out in the articles of the Corporation. At                least                25% of the directors shall be resident Canadians. Subject to any                unanimous                shareholder agreement, the directors shall manage or supervise the                management of the business and affairs of the Corporation and may                exercise                all such powers and do all such acts and things as may be exercised                or                done by the Corporation and are not expressly directed or required                to be                done in some other manner by the Act, the articles, the by-laws,                any                special resolution of the Corporation, a unanimous shareholder agreement                or by statute. |
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| *5.  * | *Duties.*                Every director and officer of the Corporation in exercising his powers                and                discharging his duties shall: |
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| a.   | act                honestly and in good faith with a view to the best interests of the                Corporation; and |
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| b.   | exercise                the care, diligence and skill that a reasonably prudent person would                exercise in comparable                circumstances. |
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| *6.  * | *Qualification.*                Every director shall be an individual 18 or more years of age and                no one                who is of unsound mind and has been so found by a court in Canada,                or                elsewhere, or who has the status of a bankrupt shall be a                director. |
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| *7.  * | *Term                of Office.*                A                director's term of office (subject to the provisions, if any, of                the                Corporation's articles, and subject to his election for an expressly                stated term) shall be from the date of the meeting at which he is                elected                or appointed until the close of the annual meeting of shareholders                next                following his election or appointment or until his successor is elected                or                appointed. |
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| *8.  * | *Vacation                of office.*                The office of a director shall be vacated                if: |
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| a.   | he                dies or sends to the Corporation a written resignation and such                resignation, if not effective upon receipt by the Corporation, becomes                effective in accordance with its                terms; |
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| b.   | he                is removed from office; |
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| c.   | he                becomes bankrupt; or |
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| d.   | he                is found by a court in Canada or elsewhere to be of unsound                mind. |
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| *9.  * | *Election                and removal.*                Directors shall be elected by ordinary resolution. Except for those                directors elected for an expressly stated term, all the directors                then in                office shall cease to hold office when their successors are elected.                Any                director shall, if qualified, be eligible for re-election. The                shareholders of the Corporation may by ordinary resolution at an                annual or                special meeting remove any director before the expiration of his                term of                office and may, by a majority of the votes cast at the meeting, elect                any                person in his stead for the remainder of his                term. |
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| *10.  * | *Validity                of acts.*                An                act done by a director or by an officer is not invalid by reason                only of                any defect that is thereafter discovered in his appointment, election                or                qualification. |
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**MEETINGS      OF DIRECTORS**

| *11.  * | *Place                of meeting.*                Meetings of directors and of any committee of directors may be held                at any                place within or outside Canada and in any financial year a majority                of the                meetings of the board of directors need not be held at a place within                Canada. A meeting of directors may be convened by the Chairman of                the                Board (if any), the Chief Executive Officer or any director at any                time                and the Secretary shall upon direction of any of the foregoing convene                a                meeting of directors. |
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| 12.   | N*otice.*                Notice of the time and place for the holding of any such meeting                shall be                sent to each director not less than two days (exclusive of the day                on                which the notice is sent but inclusive of the day for which notice                is                given) before the date of the meeting; provided that meetings of                the                directors or of any committee of directors may be held at any time                without                formal notice if all the directors are present (except where a director                attends a meeting for the express purpose of objecting to the transaction                of any business on the grounds that the meeting is not lawfully called)                or                if all the absent directors have waived                notice. |
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| *13.  * | *Waiver                of notice.*                Notice of a meeting of directors or of any committee of directors                or any                irregularity in a meeting or in the notice thereof may be waived                in any                manner by any director and such waiver may be validly given either                before                or after the meeting to which such waiver relates. Attendance of                a                director at a meeting of directors is a waiver of notice of the meeting,                except where a director attends a meeting for the express purpose                of                objecting to the transaction of any business on the grounds that                the                meeting is not lawfully called. |
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| *14.  * | *Telephone                participation.*                Where all the directors of the Corporation present at or participating                in                the meeting consent thereto (either before, during or after the meeting),                a director may participate in a meeting of directors or of any committee                of directors by means of such telephone, electronic or other                communications facilities as permit all persons participating in                the                meeting to communicate with each other simultaneously and instantaneously,                and a director participating in a meeting by such means shall be                deemed                for the purposes of the Act to be present at that meeting. If the                majority                of the directors participating in the meeting are then in Canada,                the                meeting shall be deemed to be held in                Canada. |
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| *15.  * | *Adjournment.*                Any meeting of directors or of any committee of directors may be                adjourned                from time to time by the chairman of the meeting, with the consent                of the                meeting, to a fixed time and place and no notice of the time and                place for                the holding of the adjourned meeting need be given to any director                if the                time and place of the adjourned meeting is announced at the original                meeting. Any adjourned meeting shall be duly constituted if held                in                accordance with the terms of the adjournment and a quorum is present                thereat. The directors who formed a quorum at the original meeting                are not                required to form the quorum at the adjourned meeting. If there is                no                quorum present at the adjourned meeting, the original meeting shall                be                deemed to have terminated forthwith after its                adjournment. |
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| *16.  * | *Quorum                and voting.* A                majority of the number of directors or minimum number of directors                required by the articles shall constitute a quorum for the transaction                of                business. Subject to subsection 111(1) and subsection 114(4) of the                Act,                no business shall be transacted by the directors except at a meeting                of                directors at which a quorum is present and at which at least 25%                of the                directors present are resident Canadians, or, where the Corporation                has                fewer than four directors, at which one of the directors present                is a                resident Canadian. Questions arising at any meeting of directors                shall be                decided by a majority of votes. In case of an equality of votes,                the                chairman of the meeting in addition to his original votes shall not                have a                second or casting vote. |
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**COMMITTEES      OF DIRECTORS**

| *17.  * | *General.*                The directors may from time to time appoint from their number a committee                of directors and may delegate to such committee any of the powers                of the                directors, except that no such committee shall have the authority                to: |
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| a.   | submit                to the shareholders any question or matter requiring the approval                of the                shareholders; |
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| b.   | fill                a vacancy among the directors or in the office of auditor or appoint                or                remove any of the chief executive officer, however designated, the                chief                financial officer, however designated, the chairman or the president                of                the Corporation; |
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| c.   | subject                to section 189 of the Act, issue securities except in the manner                and on                the terms authorized by the                directors; |
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| d.   | declare                dividends; |
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| e.   | purchase,                redeem or otherwise acquire shares issued by the                Corporation; |
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| f.   | pay                a commission referred to in section 41 of the                Act; |
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| g.   | approve                a management information circular referred to in Part XIII of the                Act; |
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| h.   | approve                a take-over bid circular, directors' circular, or issuer bid circular                referred to in Part 14 of the *Securities                Act*                (Alberta); |
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| i.   | approve                any financial statements referred to in clause 155(1)(a) of the Act                and                Part 12 of the *Securities                Act*                (Alberta); or |
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| j.   | adopt,                amend or repeal by-laws. |
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| *18.  * | *Audit                Committee.*                If                the Corporation has distributed shares to the public as defined in                subsection 2(7) of the Act, the board of directors shall, and otherwise                the directors may, elect annually from among their number an audit                committee to be composed of not fewer than three directors, a majority                of                whom are not officers or employees of the Corporation or any of its                affiliates, to hold office until the next annual meeting of the                shareholders. |
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| 19.   | The                audit committee shall have power to fix its quorum at not less than                a                majority of its members and to determine its own rules of procedure                subject to any regulations imposed by the board of directors from                time to                time and to the following                paragraph. |
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**REMUNERATION      OF DIRECTORS,**

**OFFICERS      AND EMPLOYEES**

| 20.   | The                remuneration to be paid to the directors of the Corporation shall                be such                as the directors shall from time to time by resolution determine                and such                remuneration shall be in addition to the salary paid to any officer                or                employee of the Corporation who is also a director. The directors                may also                by resolution award special remuneration to any director in undertaking                any special services on the Corporation's behalf other than the normal                work ordinarily required of a director of a corporation. The confirmation                of any such resolution or resolutions by the shareholders shall not                be                required. The directors may fix the remuneration of the officers                and                employees of the Corporation. The directors, officers and employees                shall                also be entitled to be paid their travelling and other expenses properly                incurred by them in connection with the affairs of the                Corporation. |
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**SUBMISSION      OF CONTRACTS OR TRANSACTIONS**

**TO      SHAREHOLDERS FOR APPROVAL**

| 21.   | The                directors in their discretion may submit any contract, act or transaction                for approval ratification or confirmation at any meeting of the                shareholders called for the purpose of considering the same and any                contract, act or transaction that shall be approved, ratified or                confirmed                by resolution passed by a majority of the votes cast at any such                meeting                (unless any different or additional requirement is imposed by the                Act or                by the Corporation's articles or by-laws) shall be as valid and as                binding                upon the Corporation and upon the shareholders as though it had been                approved, ratified and/or confirmed by every shareholder of the                Corporation. |
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**FOR      THE PROTECTION OF DIRECTORS AND OFFICERS**

| 22.   | No                director or officer for the time being of the Corporation shall be                liable                for the acts, receipts, neglects or defaults of any other director                or                officer or employee or for joining in any receipt or act for conformity                or                for any loss, damage or expense suffered or incurred by the Corporation                through the insufficiency or deficiency of title to any property                acquired                by the Corporation or for or on behalf of the Corporation or for                the                insufficiency or deficiency of any security in or upon which any                of the                moneys of or belonging to the Corporation shall be placed out or                invested                or for any loss or damage arising from the bankruptcy, insolvency                or                tortious act of any person, firm or corporation including any person,                firm                or corporation with whom or which any moneys, securities or effects                shall                be lodged or deposited or for any loss, conversion, misapplication                or                misappropriation of or any damage resulting from any dealings with                any                moneys, securities or other assets belonging to the Corporation or                for any                other loss, damage or misfortune whatever which may happen in the                execution of the duties of his respective office of trust or in relation                thereto, unless the same shall happen by or through his failure to                exercise the powers and to discharge the duties of his office honestly                and                in good faith with a view to the best interests of the Corporation,                and in                connection therewith to exercise the care, diligence and skill that                a                reasonably prudent person would exercise in comparable circumstances,                provided that nothing herein contained shall relieve a director or                officer                from the duty to act in accordance with the Act or regulations made                thereunder or relieve him from liability for a breach thereof. The                directors for the time being of the corporation shall not be under                any                duty or responsibility in respect of any contract, act or transaction                whether or not made, done or entered into in the name or on behalf                of the                Corporation, except such as shall have been submitted to and authorized                or                approved by the board of directors. If any director or officer of                the                Corporation shall be employed by or shall perform services for the                Corporation otherwise than as a director or officer or shall be a                member                of a firm or a shareholder, director or officer of a body corporate                which                is employed by or performs services for the Corporation, the fact                of his                being a shareholder, director or officer of the Corporation shall                not                disentitle such director or officer of such firm or body corporate,                as the                case may be, from receiving proper remuneration for such                services. |
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**INDEMNITIES      TO DIRECTORS AND OTHERS**

| 23.   | Subject                to subsections 124(2) and (3) of the Act, the Corporation shall indemnify                a director or officer of the Corporation who is a director or officer                of                the Corporation on or after the date of the adoption of this by-law                by the                board of directors, or a person who acts at the Corporation's request                as a                director or officer of a body corporate of which the Corporation                is a                shareholder or creditor, and his heirs and legal representatives,                against                all costs, charges and expenses, including an amount paid to settle                an                action or satisfy a judgment, reasonably incurred by him in respect                of any                civil, criminal, investigative or administrative action or proceeding                to                which he is made a party by reason of being or having been a director                or                officer of such corporation or body corporate,                if |
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| a.   | he                acted honestly and in good faith with a view to the best interests                of the                Corporation; and |
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| b.   | in                the case of a criminal or administrative action or proceeding that                is                enforced by a monetary penalty, he had reasonable grounds for believing                that his conduct was lawful. |
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**OFFICERS**

| *24.  * | *Appointment                of officers.*                The directors shall as often as may be required appoint a Chief Executive                Officer and a Secretary and if deemed advisable or required by law                may as                often as may be required appoint a Chairman of the Board, one or                more                Vice-Presidents, a Chief Financial Officer and one or more Assistant                Secretaries and/or one or more Assistant Treasurers. The directors                may                from time to time appoint such other officers, employees and agents                as                they shall deem necessary who shall have such authority and shall                perform                such functions and duties as may from time to time be prescribed                by                resolution of the directors. None of such officers, except the Chairman                of                the Board, need be a director of the Corporation. Any director may                be                appointed to any office of the Corporation. Two or more of such offices                may be held by the same person. |
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| *25.  * | *Removal                of officers, etc.*                All officers, employees and agents, in the absence of agreement to                the                contrary, shall be subject to removal by resolution of the directors                at                any time, with or without cause. |
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| *26.  * | *Duties                of officers may be delegated.*                In                case of the absence or inability or refusal to act of any officer                of the                Corporation or for any other reason that the directors may deem                sufficient, the directors may delegate all or any of the powers of                such                officer to any other officer or to any director for the time                being. |
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| *27.  * | *Chairman                of the Board.*                The Chairman of the Board (if any), shall when present preside at                all                meetings of the directors, any committee of the directors and                shareholders, shall sign such documents as may require his signature                in                accordance with the by-laws of the Corporation and shall have such                other                powers and shall perform such other duties as may from time to time                be                assigned to him by resolution of the directors or as are incident                to his                office. |
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| *28.  * | *Chief                Executive Officer.*                The Chief Executive Officer shall be the chief executive officer                of the                Corporation and shall exercise general supervision over the business                and                affairs of the Corporation. In the absence of the Chairman of the                Board                (if any), and if the Chief Executive Officer is also a director of                the                Corporation, the Chief Executive Officer shall, when present, preside                at                all meetings of the directors, any committee of the directors and                shareholders; he shall sign such contracts, documents or instruments                in                writing as require his signature and shall have such other powers                and                shall perform such other duties as may from time to time be assigned                to                him by resolution of the directors or as are incident to his                office. |
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| *29.  * | *Vice-President.*                The Vice-President or, if more than one, the Vice-Presidents in order                of                seniority, shall be vested with all the powers and shall perform                all the                duties of the Chief Executive Officer in the absence or inability                or                refusal to act of the Chief Executive Officer, provided, however,                that a                Vice-President who is not a director shall not preside as chairman                at any                meeting of directors or shareholders. The Vice-President or, if more                than                one, the Vice-Presidents in order of seniority, shall sign such contracts,                documents or instruments in writing as require his or their signatures                and                shall also have such other powers and duties as may from time to                time be                assigned to him or them by resolution of the                directors. |
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| *30.  * | *Secretary.*                The Secretary shall give or cause to be given notices for all meetings                of                the directors, any committee of the directors and shareholders when                directed to do so and shall have charge of the minute books of the                corporation and, subject to the provisions of paragraph 45 hereof,                of the                documents and registers referred to in subsections 20(1) and (2)                of the                Act. Subject to the provisions of any resolution of the directors,                the                Secretary shall have the responsibility for ensuring that the Corporation                complies with all rules and regulations of any statutory or regulatory                body or similar authority having jurisdiction over the Corporation                or any                organization of which the Corporation is a member, including any                stock                exchange, securities exchange or commodities exchange. He shall advise                the                Corporation of the requirements of such entities and shall assist                the                directors in the development of policies to ensure compliance therewith.                He shall prepare and maintain adequate records to comply with the                requirements of any such institution or organization. He shall sign                such                contracts, documents or instruments in writing as require his signature                and shall have such other powers and duties as may from time to time                be                assigned to him by resolution of the directors or as are incident                to his                office. |
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| *31.  * | *Chief                Financial Officer/Controller.*                Subject to the provisions of any resolution of the directors, the                Chief                Financial Officer or the Controller shall have the care and custody                of all                the funds and securities of the Corporation and shall deposit the                same in                the name of the Corporation in such bank or banks or with such other                depositary or depositaries as the directors may by resolution direct.                He                shall prepare and maintain adequate accounting records. He shall                sign such                contracts, documents or instruments in writing as require his signature                and shall have such other powers and duties as may from time to time                be                assigned to him by resolution of the directors or as are incident                to his                office. He may be required to give such bond for the faithful performance                of his duties as the directors in their uncontrolled discretion may                require and no director shall be liable for failure to require any                such                bond or for the insufficiency of any such bond or for any loss by                reason                of the failure of the Corporation to receive any indemnity thereby                provided. If the Corporation should appoint both a Chief Financial                Officer                and a Controller their respective duties shall be allocated between                them                in such manner as the directors may determine, provided that in such                circumstances the Controller shall report to the Chief Financial                Officer. |
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| *32.  * | *Assistant                Secretary and Assistant Treasurer.*                The Assistant Secretary or, if more than one, the Assistant Secretaries                in                order of seniority, and the Assistant Treasurer or, if more than                one, the                Assistant Treasurers in order of seniority, shall perform all the                duties                of the Secretary and Chief Financial Officer, respectively, in the                absence                or inability to act of the Secretary or Chief Financial Officer,                as the                case may be. The Assistant Secretary or Assistant Secretaries, if                more                than one, and the Assistant Treasurer or Assistant Treasurers, if                more                than one, shall sign such contracts, documents or instruments in                writing                as require his or their signatures respectively and shall have such                other                powers and duties as may from time to time be assigned to them by                resolution of the directors. |
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| *33.  * | *Vacancies.*                If                the office of Chairman of the Board, Chief Executive Officer,                Vice-President, Secretary, Assistant Secretary, Chief Financial Officer,                Controller, or Assistant Treasurer, or any other office created by                the                directors pursuant to paragraph 23 hereof shall be or become vacant                by                reason of death, resignation or in any other manner whatsoever, the                directors shall in the case of the Chief Executive Officer or the                Secretary and may in the case of the other officers appoint an officer                to                fill such vacancy. |
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**SHAREHOLDERS'      MEETINGS**

| *34.  * | *Annual                or special meetings.*                Subject to subsection 142(1) of the Act, the directors of the                Corporation, |
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| a.   | shall                call an annual meeting of shareholders not later than 15 months after                holding the last preceding annual meeting but not later than 6 months                after the end of the Corporation's preceding financial year;                and |
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| b.   | may                at any time call a special meeting of                shareholders. |
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| *35.  * | *Place                of meetings.*                Subject to the Act, the articles and any agreement by the shareholders                in                accordance with subsection 132 (2) of the Act, a meeting of the                shareholders of the Corporation may be held at such place as the                directors                may determine or, in the absence of such a determination, at the                place                where the registered office of the Corporation is                located. |
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| *36.  * | *Notice.*                A                notice stating the day, hour and place of meeting and, if special                business                is to be transacted thereat, stating (or accompanied by a statement                of)                (i) the nature of that business in sufficient detail to permit the                shareholder to form a reasoned judgment thereon, and (ii) the text                of any                special resolution or by-law to be submitted to the meeting, shall                be                served by sending such notice to each person who is entitled to notice                of                such meeting and who on the record date for notice appears on the                records                of the Corporation or its transfer agent as a shareholder entitled                to vote                at the meeting and to each director of the Corporation and to the                auditor                of the Corporation by prepaid mail not less than 21 days and not                more than                60 days (exclusive of the day of mailing and of the day for which                notice                is given) before the date of every meeting addressed to the latest                address                of each such person as shown in the records of the Corporation or                its                transfer agent, or if no address is shown therein, then to the last                address of each such person known to the Secretary; provided that                a                meeting of shareholders may be held for any purpose at any date and                time                and at any place without notice if all the shareholders - and other                persons entitled to notice of such meeting are present in person                or                represented by proxy at the meeting (except where the shareholder                or, such                other person attends the meeting for the express purpose of objecting                to                the transaction of any business on the grounds that the meeting is                not                lawfully called) or if all the shareholders and other persons entitled                to                notice of such meeting and not present in person nor represented                by proxy                thereat waive notice of the meeting. Notice of any meeting of shareholders                or the time for the giving of any such notice or any irregularity                in any                such meeting or in the notice thereof may be waived in any manner                by any                shareholder, the duly appointed proxy of any shareholder, any director                or                the auditor of the Corporation and any other person entitled to attend                a                meeting of shareholders, and any such waiver may be validly given                either                before or after the meeting to which such waiver                relates. |
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| *37.  * | *Omission                of notice.*                The accidental omission to give notice of any meeting to or the                non-receipt of any notice by any person shall not invalidate any                resolution passed or any proceeding taken at any meeting of                shareholders. |
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| *38.  * | *Record                dates for notice of meetings.*                The directors may fix in advance the date as the record date for                the                determination of shareholders entitled to receive notice of a meeting                of                shareholders, but such record date shall not precede by more than                60 days                or by less than 21 days the date on which the meeting is to be held                and                shall then provide notice in accordance with subsection                134(3).. |
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| a.   | at                the close of business on the day immediately preceding the day on                which                notice is given; or |
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| b.   | if                no notice is given, the day on which the meeting is                held. |
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| *39.  * | *Means                of participation.*                Any person entitled to attend a meeting of shareholders may participate                in                the meeting in accordance with subsection 132(4) and the regulations                of                the Act, by means of a telephonic, electronics or other communication                facility that permits all participants to communicate adequately                with each                other during the meeting, if the Corporation makes available such                a                communication facility. A person participating in a meeting by such                means                is deemed to be present at the                meeting. |
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| *40.  * | *Votes.*                Every question submitted to any meeting of shareholders shall be                decided                in the first instance on a show of hands and in case of an equality                of                votes the chairman of the meeting shall not, both on a show of hands                and                at a poll, have a second or casting vote in addition to the vote                or votes                to which he may be entitled as a shareholder or proxy                nominee. |
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| *41.  * | *Proxies.*                Votes at meetings of the shareholders may be given either personally                or by                proxy. At every meeting at which he is entitled to vote, every shareholder                present in person and every proxyholder shall have one vote on a                show of                hands. Upon a poll at which he is entitled to vote every shareholder                present in person or by proxy shall (subject to the provisions, if                any, of                the Corporation's articles) have one vote for every share registered                in                his name. |
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| *42.  * | *Adjournment.*                The chairman of the meeting may with the consent of the meeting adjourn                any meeting of shareholders from time to time to a fixed time and                place                and if the meeting is adjourned for less than 30 days no notice of                the                time and place for the holding of the adjourned meeting need be given                to                any shareholder, other than by announcement at the earliest meeting                that                is adjourned. If a meeting of shareholders is adjourned by one or                more                adjournments for an aggregate of 30 days or more, notice of the adjourned                meeting shall be given as for an original meeting but, unless the                meeting                is adjourned by one or more adjournments for an aggregate of more                than 90                days, subsection 149(1) of the Act does not apply. Any adjourned                meeting                shall be duly constituted if held in accordance with the terms of                the                adjournment and a quorum is present thereat. The persons who formed                a                quorum at the original meeting are not required to form a quorum                at the                adjourned meeting. If there is no quorum present at the adjourned                meeting,                the original meeting shall be deemed to have terminated forthwith                after                its adjournment. Any business may be brought before or dealt with                at any                adjourned meeting which might have been brought before or dealt with                at                the original meeting in accordance with the notice calling the                same. |
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| *43.  * | *Quorum.*                A                quorum for any meeting of shareholders shall be persons present not                being                less than two in number and holding or representing by proxy not                less than                33 1/3 percent of the issued and outstanding shares of the Corporation                for                the time being enjoying voting rights at such meeting. The board                of                directors may in their discretion raise the quorum for any meeting                up to                50 percent of the issued and outstanding shares of the Corporation                for the                time being enjoying voting rights at any meeting by stating the quorum                for                such meeting in the notice calling the same. If the notice contains                no                reference to the quorum, the quorum shall be 33 1/3                percent. |
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**SHARES      AND TRANSFERS**

| *44.  * | *Issuance.*                Subject to the articles of the Corporation and any unanimous shareholder                agreement, shares in the Corporation may be issued at such time and                issued                to such persons and for such consideration as the directors may                determine. |
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| *45.  * | *Security                certificates.*                Security certificates (and the form of transfer power on the reverse                side                thereof) shall (subject to compliance with section 49 of the Act)                be in                such form as the directors may from time to time by resolution approve                and, subject to subsection 49(5) of the Act, such certificates shall                be                signed manually by at least one director or officer of the Corporation                or                by or on behalf of a registrar, transfer agent, branch transfer agent                or                issuing or other authenticating agent of the Corporation, or by a                trustee                who certifies it in accordance with a trust indenture, and any additional                signatures required on a security certificate may be printed or otherwise                mechanically reproduced thereon. Notwithstanding any change in the                persons                holding an office between the time of actual signing and the issuance                of                any certificate and notwithstanding that a person signing may not                have                held office at the date of issuance of such certificate, any such                certificate so signed shall be valid and binding upon the                Corporation. |
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| *46.  * | *Transfer                agents.*                For each class of securities and warrants issued by the Corporation,                the                directors may from time to time by resolution appoint or                remove, |
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| a.   | a                trustee, transfer agent or other agent to keep the securities register                and                the register of transfer and one or more persons or agents to keep                branch                registers; and |
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| b.   | a                registrar, trustee or agent to maintain a record of issued security                certificates and warrants, and subject to section 83 of the Act,                one                person may be appointed for the purposes of both clauses a. and b.                in                respect of all securities and warrants of the Corporation or any                class or                classes thereof. |
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| *47.  * | *Surrender                of security certificates.*                Subject to the Act, no transfer of a security issued by the Corporation                shall be recorded or registered unless and until (i) the security                certificate representing the security to be transferred has been                surrendered and cancelled or (ii) if no security certificate has                been                issued by the Corporation in respect of such share, a duly executed                security transfer power in respect thereof has been presented for                registration. |
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| *48.  * | *Defaced,                destroyed, stolen or lost security certificates.*                In                case of the defacement, destruction, theft or loss of a security                certificate, the fact of such defacement, destruction, theft or loss                shall                be reported by the owner to the Corporation or to an agent of the                Corporation (if any) acting on behalf of the Corporation, with a                statement                verified by oath or statutory declaration as to the defacement,                destruction, theft or loss and the circumstances concerning the same                and                with a request for the issuance of a new security certificate to                replace                the one so defaced, destroyed, stolen or lost. Upon the giving to                the                Corporation (or, if there be an agent, hereinafter in this paragraph                referred to as the "Corporation's agent", then to the Corporation                and the                Corporation's agent) of an indemnity bond of a surety company in                such form                as is approved by the directors or by the Chairman of the Board (if                any),                the Chief Executive Officer, a Vice-President, the Secretary or Chief                Financial Officer of the Corporation, indemnifying the Corporation                (and                the Corporation's agent if any) against all loss, damage and expense,                which the Corporation and/or the Corporation's agent may suffer or                be                liable for by reason of the issuance of a new security certificate                to such                shareholder, and provided the Corporation or the Corporation's agent                does                not have notice that the security has been acquired by a bona fide                purchaser, a new security certificate may be issued in replacement                of the                one defaced, destroyed, stolen or lost, if such issuance is ordered and                authorized by any one of the Chairman of the Board (if any), the                Chief                Executive Officer, a Vice-President, the Secretary or the Chief Financial                Officer of the Corporation or by resolution of the                directors. |
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**DIVIDENDS**

| 49.   | The                directors may from time to time by resolution declare and the Corporation                may pay dividends on its issued shares, subject to the provisions                (if any)                of the Corporation's articles. |
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| a.   | the                Corporation is, or, after the payment, would be unable to pay its                liabilities as they become due; or |
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| b.   | the                realizable value of the Corporation's assets would thereby be less                than                the aggregate of its liabilities and stated capital of all                classes. |
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| 50.   | In                case several persons are registered as the joint holders of any securities                of the Corporation, any one of such persons may give effectual receipts                for all dividends and payments on account of dividends, principal,                interest and/or redemption payments on redemption of securities (if                any)                subject to redemption in respect of such                securities. |
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**RECORD      DATES**

| 51.   | Subject                to subsection 134(4) of the Act, the directors may fix in advance                a date                as the record date for the determination of shareholders (i) entitled                to                receive payment of a dividend, (ii) entitled to participate in a                liquidation or distribution, or (iii) for any other purpose except                the                right to receive notice of or to vote at a meeting of shareholders,                but                such record date shall not precede by more than 50 days the particular                action to be taken. |
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**VOTING      SECURITIES IN OTHER ISSUERS**

| 52.   | All                securities of any other body corporate or issuer of securities carrying                voting rights held from time to time by the Corporation may be voted                at                all meetings of shareholders, bondholders, debenture holders or holders                of                such securities, as the case may be, of such other body corporate                or                issuer and in such manner and by such person or persons as the directors                of the Corporation shall from time to time determine and authorize                by                resolution. The duly authorized signing officers of the Corporation                may                also from time to time execute and deliver for and on behalf of the                Corporation proxies and/or arrange for the issuance of voting certificates                and/or other evidence of the right to vote in such names as they                may                determine without the necessity of a resolution or other action by                the                directors. |
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**NOTICES,      ETC.**

| *53.  * | *Service.*                Any notice or other document required to be given or sent by the                Corporation to any shareholder or director of the Corporation shall                be                delivered personally or sent by prepaid mail or by telegram, fax,                telex or                other electronic means that produces a written copy addressed                to: |
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| a.   | the                shareholder at his latest address as shown on the records of the                Corporation or its transfer agents;                and |
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| b.   | the                director at his latest address as shown in the records of the                Corporation. |
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| *54.  * | *Shares                registered in more than one name.*                All notices or other documents shall, with respect to any shares                in the                capital of the Corporation registered in more than one name, be given                to                whichever of such persons is named first in the records of the Corporation                and any notice or other document so given shall be sufficient notice                or                delivery of such document to all the holders of such                shares. |
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| *55.  * | *Persons                becoming entitled by operation of law.*                Every person who by operation of law, transfer or by any other means                whatsoever shall become entitled to any shares in the capital of                the                Corporation shall be bound by every notice or other document in respect                of                such shares which prior to his name and address being entered on                the                records of the Corporation shall have been duly given to the person                or                persons from whom he derives his title to such                shares. |
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| *56.  * | *Deceased                shareholder.*                Any notice or other document delivered or sent by post or left at                the                address of any shareholder as the same appears in the records of                the                Corporation shall, notwithstanding that such shareholder be then                deceased                and whether or not the Corporation has notice of his death, be deemed                to                have been duly served in respect of the shares held by such shareholder                (whether held solely or with other persons) until some other person                be                entered in his stead in the records of the Corporation as the holder                or                one of the holders thereof and such service shall for all purposes                be                deemed a sufficient service of such notice or other document on his                heirs,                executors or administrators and all persons (if any) interested with                him                is such shares. |
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| *57.  * | *Signatures                to notices.*                The signature of any director of officer of the Corporation to any                notice                may be written, printed or otherwise mechanically                reproduced. |
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| *58.  * | *Computation                of time.*                Where a given number of days' notice or notice extending over any                period                is required to be given under any provisions of the articles or by-laws                of                the Corporation, the day of service, posting or other communication                of the                notice shall not be counted in such number of days or other period,                and                such number of days or other period shall commence on the day following                the day of service, posting or other communication of the notice                and shall                terminate at midnight of the last day of the period except that if                the                last day of the period falls on a Sunday or holiday the period shall                terminate at midnight of the day next following that is not a Sunday                or                holiday. |
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| *59.  * | *Proof                of service.*                A                certificate of any officer of the Corporation in office at the time                of the                making of the certificate or of an agent of the Corporation as to                facts in                relation to the mailing or delivery or service of any notice or other                documents to any shareholder, director, officer or auditor or publication                of any notice or other document shall be conclusive evidence thereof                and                shall be binding on every shareholder, director, officer or auditor                of the                Corporation, as the case may be. |
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**CHEQUES,      DRAFTS, NOTES, ETC.**

| 60.   | All                cheques, drafts or orders for the payment of money and all notes,                acceptances and bills of exchange shall be signed by such officer                or                officers or other person or persons, whether or not officers of the                Corporation and in such manner as the directors may from time to                time                designate by resolution. |
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**CUSTODY      OF SECURITIES**

| 61.   | All                securities (including warrants) belonging to the Corporation may                be issued                and held in the name of a nominee or nominees of the Corporation                (and if                issued or held in the names of more than one nominee shall be held                in the                names of the nominees jointly with the right of survivorship) and                shall be                endorsed in blank with endorsement guaranteed in order to enable                transfer                thereof to be completed and registration thereof to be                effected. |
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**EXECUTION      OF CONTRACTS, ETC.**

| 62.   | Subject                to any applicable resolution of the directors in effect from time                to time                in respect of the execution of contracts, instruments or documents,                any                instruments, contracts, documents or instruments in writing requiring                the                signature of the Corporation may be signed by any director or officer                of                the Corporation together with any other officer or director and all                contracts, documents or instruments in writing so signed shall be                binding                upon the Corporation without any further authorization or formality.                The                directors are authorized from time to time by resolution to appoint                any                director, directors, officer or officers or any other person or persons                on                behalf of the Corporation either to sign contracts, documents or                instruments in writing generally or to sign specific contracts, documents                or instruments in writing. |
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| 63.   | The                corporate seal of the Corporation may, when required, be affixed                to                contracts, documents or instruments in writing signed as aforesaid                or by                an officer or officers, person or persons appointed as aforesaid                by                resolution of the board of                directors. |
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**ENFORCEMENT      OF LIEN FOR INDEBTEDNESS**

| 64.   | Unless                the Corporation has shares listed on a stock exchange recognized                by the                Alberta Securities Commission, the Corporation has a lien on shares                registered in the name of a shareholder or his legal representative                for a                debt of that shareholder to the Corporation. The directors of the                Corporation may authorize the Corporation to apply any dividends                or other                distributions paid or payable on or in respect of the share or shares                in                respect of which the Corporation has such a lien in repayment of                the debt                of that shareholder to the                Corporation. |
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**FINANCIAL      YEAR**

| 65.   | The                financial year of the Corporation shall terminate on such day in                each year                as the board of directors may from time to time by resolution                determine. |
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*Werner      Gartner*

| Dated                this 6th day of June, 2006 |   | Secretary |
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|                                            |   |      |