----

| Reporting Issuer Name:                    |  Copernic          |
|-----------------------------------------------------|-------------------------|
|                                                |                    |
| End date of last completed fiscal year:   |  December 31, 2009 |

| Total number of securities of a class or series outstanding as at the end of the issuer's last completed fiscal year  |  (i)       |
|----------------------------------------------------------------------------------------------------------------------------|-----------------|
|                                                                                                                       |  2,091,437 |

| Simple average of the closing price of that class or series as of the last trading day of each month in the last completed fiscal | (ii)   |
|-----------------------------------------------------------------------------------------------------------------------------------|--------|
| year (See clauses 2.7(a)(ii)(A) and (B) of the Rule)                                                                              |   |
|                                                                                                                              | 2.14   |

| Market value of class or series | (i) X (ii) | (A)       |
|---------------------------------|------------|-----------|
|                            | =          |      |
|                            |       | 4,475,675 |

| (Repeat the above calculation for each other class or series of securities of the reporting issuer that was listed or quoted on a | (B)               |
|-----------------------------------------------------------------------------------------------------------------------------------|-------------------|
| marketplace in Canada or the United States of America at the end of the last completed fiscal year)                               |              |
|                                                                                                                              |              |
|                                                                                                                              |  ___________ |
|                                                                                                                              |              |

| (Provide details of how value was determined) | (C)              |
|-----------------------------------------------|------------------|
|                                          |             |
|                                          |             |
|                                          |  __________ |

| (Repeat for each other class or series of securities to which paragraph 2.7(b) of the Rule applies) | (D)              |
|-----------------------------------------------------------------------------------------------------|------------------|
|                                                                                                |             |
|                                                                                                |             |
|                                                                                                |  __________ |

| Capitalization for the last completed fiscal year           |      |
|------------------------------------------------------------------|-----------|
|                                                             |      |
| (Add market value of all classes and series of securities)  |      |
|  (A) + (B) + (C) + (D) =                                    |      |
|                                                             | 4,475,675 |

----

| Participation Fee                                          |   |
|------------------------------------------------------------|--------|
|                                                       | $600   |
| (From Appendix A of the Rule, select the participation fee |   |
|                                                       |   |

| (As determined under section 2.5 of the Rule) |             |
|-----------------------------------------------|------------------|
|                                          |             |
|                                          |             |
|                                          |  __________ |