----

| SUBSCRIBER: | _________________________________ |
|-------------|-----------------------------------|

| PURCHASE      PRICE: | $________________________________ |
|----------------------|-----------------------------------|

| PAYMENT: | Payment      of the Subscription Amount must be received by Computershare Trust Company      of Canada, as escrow agent, prior toclosing. |
|----------|-------------------------------------------------------------------------------------------------------------------------------------------|

| UNIT: | $________________________________ |
|-------|-----------------------------------|

| SUBSCRIBED      FOR: | _________________________________ |
|----------------------|-----------------------------------|

| USE OF      PROCEEDS: | It      is intended that the net proceeds of this placement will be used for      working capital. |
|-----------------------|----------------------------------------------------------------------------------------------------|

| UNIT: | Each      Unit is comprised of one (1) Common Share of the Corporation and one      Warrant (“Warrant”) (subject to adjustment in the case of a stock      consolidation, subdivision, and / or  reclassification). |
|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| WARRANTS: | Each      Warrant will entitle the holder to purchase, subject to adjustment, one      Common Share of the Corporation at a price equal to 140% of the Price Per      Unit for a period of 3 years from the date of issuance of the      Warrant. |
|-----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| CONDITIONS: | (1) | Acceptance      of Subscription by the Corporation and its Board of Directors;      and |
|-------------|-----|-----------------------------------------------------------------------------------------|

| TRANSFERABILITY: | The      Warrants are non-transferable. The Common Shares forming part of the Units      (the “Unit Shares”), and the Common Shares issuable upon exercise of the      Warrants (the “Warrant Shares”) will be non-transferable for a period of      not less than 4 months following the date of issuance of the Unit      Shares. |
|------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| HOLD    PERIOD: | The      Subscriber understands and acknowledges, as evidenced by the Subscriber’s      signature hereto, that the Unit Shares, the Warrants and the Warrant      Shares (collectively, the “Securities”) shall be non-transferable for not      less than 4 months following the date of issuance of the Units, and that      the Securities may be subject to further sale restrictions and/or hold      periods pursuant to applicable securities laws, and the      Subscriber agrees to comply with such restrictions. The Subscriber      acknowledges and confirms that the Subscriber has been advised that the      Subscriber should consult his, her or its own legal advisors with respect      to applicable resale restrictions and that the Subscriber is solely      responsible for complying with such restrictions (and the Corporation is      not in any manner responsible for ensuring      compliance by the Subscriber with such  restrictions). |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| CERTIFICATES: | The      Warrant Certificates shall be in such form, and shall contain such terms      and conditions in addition to those set forth in this Subscription      Agreement, and the schedules attached hereto, as the Corporation, on      advice of its legal counsel, mayapprove. |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| SCHEDULES      AND |   |
|--------------------|--------|

| APPENDIX: | This      Subscription Agreement includes Schedules “A” and “B” and Appendix I,      which are deemed to be incorporatedherein. |
|-----------|---------------------------------------------------------------------------------------------------------------------------------------------------------|

| ACCREDITED |   |
|------------|--------|

| INVESTOR: | The      Subscriber represents and warrants that the Subscriber is an “accredited      investor” because the Subscriber meets the criteria set forth in the      following category or categories of “accredited investor”, as set out in      Appendix I attached: |
|-----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| HELIX      SECURITIES |   |
|-----------------------|--------|

| OWNED      OR |   |
|---------------|--------|

| CONTROLLED: | The      Subscriber represents and warrants that at the date hereof, the number of      common shares of Helix BioPharma Corp. beneficially owned and/or over      which control or direction may be exercised, directly or indirectly, prior      to this placement by the Subscriber, including common shares that may be      acquired on exercise of a convertible security,  is |
|-------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | __________________________________: |
|--------|-------------------------------------|

----

----

----

| 1. | An      individual who, either alone or with a spouse, beneficially owns, directly      or indirectly, financial assets (being cash, securities, or a contract of      insurance, a deposit or an evidence of a deposit that is not a security      for the purposes of any Canadian securities legislation) having an      aggregate realizable value that before taxes, but net of any related      liabilities (being liabilities incurred or assumed for the purpose of      financing the acquisition or ownership of financial assets, or liabilities      that are secured by financial assets) exceeds  $1,000,000; |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | An      individual whose net income before taxes exceeded $200,000 in each of the      2 most recent calendar years or whose net income before taxes combined      with that of a spouse exceeded $300,000 in each of the 2 most recent      calendar years and who, in either case, reasonably expects to exceed that      net income level in the current calendaryear; |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | An      individual who, either alone or with a spouse, has net assets of at least      $5,000,000; |
|----|----------------------------------------------------------------------------------------------------|

| 4. | A      person, other than an individual or investment fund (as that term is      defined in NI 45-106), that has net assets of at least $5,000,000 as shown      on its most recently prepared financial statements, but has not been      created or used solely to purchase or hold securities as such an      accredited investor; or |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5. | A      person in respect of which all of the owners of interests, direct,      indirect or beneficial, except the voting securities required by law to be      owned by directors, are persons that are described in category 1, 2, 3 or      4 above. |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 1.   | Subscription for      Units |
|----------------|-----------------------------|

| 2.   | Purchase      Price |
|----------------|---------------------|

| (a)   | Written      notice from The Toronto Stock Exchange (the “TSX”) that the terms and      conditions of the private placement have been accepted for filing;      and |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | Such      further and other regulatory approvals as may be necessary and required in      the reasonable opinion of counsel to the Corporation have been      obtained. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.   | Subscriber’s      Acknowledgements, Representations, Warranties and      Covenants |
|----------------|------------------------------------------------------------------------------------------|

| (a)   | the      Subscriber is purchasing the Purchased Units as principal for the      Subscriber’s own account, for investment purposes only and not with a      view to any resale, distribution or other disposition of      the Purchased Units in violation of United States, Canadian, or local      securities laws; |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (b)   | the      Subscriber is resident at the address shown for the Subscriber on page 3      of this Subscription Agreement, and the Subscriber further certifies that      Subscriber is not resident inCanada; |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c)   | the      Subscriber has such knowledge and experience in financial and business      matters as to be capable of evaluating the merits and risks of an      investment in the Purchased Units; |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (d)   | the      Subscriber has no immediate need for liquidity and is able to bear the      economic risk of loss of the Subscriber’s entire    investment; |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (e)   | the      Subscriber has not purchased the Purchased Units as a result of any form      of general solicitation or general advertising, including      advertisements, articles, notices or other communications published      in any newspaper, magazine or similar media or broadcast over radio, or      television, or any seminar or meeting whose attendees have been      invited by general solicitation or general  advertising; |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (f)   | the      Subscriber will execute and deliver all documentation as may be required      by applicable securities laws and/or by the rules of the TSX to      permit the purchase of the Purchased Units on the terms herein set      forth; |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (g)   | the      Subscriber has the legal competence and capacity to enter into and execute      this Subscription Agreement and to purchase the Purchased Units and, if      the Subscriber 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 and performance of this Subscription      Agreement by the Subscriber; |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (h)   | this      Subscription Agreement has been duly executed and delivered by the      Subscriber, and this Subscription Agreement constitutes a valid and      legally binding obligation of the Subscriber enforceable against the      Subscriber in accordance with its terms, subject only to the      customary qualifications on enforceability concerning equitable      remedies, and bankruptcy andinsolvency; |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (i)   | 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 the Subscriber or of any      agreement, written or oral, to which the Subscriber may be a party or by      which the Subscriber is or may be bound, or, if the Subscriber is a      corporation, of the constating documents of the  Subscriber; |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (j)   | the      Subscriber is not a “U.S. Person” as that term is defined in Regulation S      of the U.S. Securities Act (the definition of which includes, but is not      limited to, an individual resident in the United States and an estate or      trust of which any executor or administrator or trustee, respectively, is      a U.S. Person and any partnership or corporation organized or incorporated      under the laws of the UnitedStates); |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (k)   | the      Subscriber was outside the United States (as that term is defined in      Regulation S of the U.S. Securities Act) at the time of execution and      delivery of this subscriptionagreement; |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (l)   | no      offers to sell the Purchased Units were made by any person to the      Subscriber while the Subscriber was in the United  States; |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------|

| (m)   | the      Purchased Units are not being acquired, directly or indirectly, for the      account or benefit of a U.S. Person or a person in the United      States; |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (n)   | the      Subscriber has not engaged nor will it engage in any activity undertaken      for the purpose of, or that reasonably could be expected to have the      effect of, conditioning the markets in the United States for any of the      Purchased Units, the Unit Shares, the Warrants or the Warrant Shares      (collectively, the “Securities”), including but not limited to effecting      any sale or short sale of the Corporation’s securities through the      Subscriber prior to the expiration of any restricted period contained in      Regulation S (any such activity being defined herein as a “Directed      Selling Effort”).  The Subscriber agrees that all offers and      sales of the Securities from the date hereof and through the expiration      of  any restricted period set forth in Rule 903 of Regulation S      (as the same may be amended from time to time hereafter) shall not be made      to U.S. Persons or for the account or benefit of U.S. Persons and shall      otherwise be made in compliance with the provisions of Regulation S and      any other applicable provisions of the U.S. Securities      Act.   The Subscriber has not conducted any Directed      Selling Effort as that term is used and defined in Rule 902 of Regulation      S and will not engage in any such Directed Selling Effort within the      United States through the expiration of any restricted period set forth in      Rule 903 of Regulation S; |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (o)   | no      representations or warranties, written or oral, concerning the Corporation      or the Purchased Units have been provided to the Subscriber by the      Corporation or any other person on behalf of the Corporation, other than      those contained in this Subscription Agreement, and without limiting the      generality of the foregoing, no person has made to the Subscriber any      written or oral representations: |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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

| (ii)   | that      any person will refund the purchase price of the Purchased Units or the      Warrant Shares; |
|------------------|--------------------------------------------------------------------------------------------------------|

| (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 a stock exchange, other than the TSX with      respect only to the common shares of the  Corporation; |
|------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (p)   | the      Subscriber has no knowledge of a “material fact” or a “material change”      (as those terms are defined in the Ontario Securities Act) in the affairs      of the Corporation that has not been generally disclosed to the      public; |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (q)   | neither      the Subscriber nor any of the Subscriber’s respective affiliates or      associates, nor any insider of any of them, is an insider of the      Corporation, and neither the purchase by the Subscriber of the Purchased      Units, nor the exercise of any of the Warrants, will result in the      Subscriber, or any such affiliates, associates or insiders, becoming an      insider or a control person of the Corporation,  or will result      in the Subscriber, or any such affiliates, associates or insiders being      required to file any acquisition reports or so-called “early warning      reports” under the take-over bid provisions of the Ontario Securities Act; (the      terms “affiliates”, “associates”, “insider” and “control person” having      the definitions contained in the Ontario Securities Act, after      application of all related deeming provisions contained in the Ontario      Securities Act); |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (r)   | the      Subscriber may not trade any of the Securities for 4 months following the      Closing Date, there may be other restrictions on the Subscriber’s ability      to resell the Securities under applicable securities laws, and it is the      responsibility of the Subscriber to find out what those restrictions are      and to comply with them before selling the  Securities; |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (s)   | any      information provided or to be provided by the Subscriber to the TSX or      other securities regulatory authority, in connection with the transactions      contemplated herein, will be complete and accurate in all respects and may      be relied on by the Corporation in connection with the completion of such      transactions as representations and warranties made by the Subscriber to      the Corporation; |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (t)   | the      Subscriber acknowledges that the Corporation will pay finders fees in      respect of this subscription to ACM Alpha Consulting Management Est. (the      “Finder”), and will reimburse certain expenses of the Finder, and the      Subscriber acknowledges that the Subscriber has been provided with such      further information regarding these finders fees and expenses as the      Subscriber has requested; |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (u)   | if      the Subscriber is making this subscription with the assistance or      involvement of an agent of the Subscriber, such agent has disclosed to the      Subscriber (i) whether the agent or any of its directors, officers,      employees, agents or direct or indirect shareholders (collectively, the      “Agent principals”), has any relationship with the Finder or any of its      directors, officers, employees, agents or direct or indirect shareholders      (collectively, the “Finder principals”) and if so, the nature and extent      of such relationship; and (ii) whether the agent or any of the Agent      principals has or will receive any benefit from the Corporation in      connection with this subscription, whether directly or indirectly through      the Finder, or any of the  Finder principals, or otherwise, and      if so, the agent has also disclosed to the Subscriber the amount and      nature of any suchbenefit;   |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (v)   | the      Corporation has not established any minimum or maximum number of Units      which may be issued and accordingly, the Subscriber may be the only      subscriber for Units or other securities of the Corporation or may be one      or more of several suchsubscribers; |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (w)   | no      securities commission or similar regulatory authority has reviewed or      passed on the merits of any of theSecurities; |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------|

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

----

| (y)   | the      Corporation has a limited operating history and a history of losses, and      the Subscriber is fully familiar with the business and financial      condition, properties, operations and prospects of the Corporation, all as      generally described in the Corporation’s publicly available documents,      including its filings on SEDAR available at www.sedar.com      (the “Public Record”); |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (z)   | the      Subscriber has been given the opportunity to ask questions of and receive      answers from the Corporation regarding the investment and to obtain any      information the Subscriber considers necessary or appropriate to verify      the accuracy of the information set forth in the Corporation’s Public      Record, or otherwise in connection with the Subscriber’s decision to      acquire the Purchased Units, and has been furnished all such information      so requested; |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (aa)   | the      Subscriber acknowledges that no information furnished by the Corporation      constitutes investment, accounting, legal or tax advice and the Subscriber      has been advised to rely solely upon the Subscriber’s own professional      advisors for such advice; |
|------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (bb)   | without      limiting the generality of the foregoing clause (aa), the Subscriber      understands and agrees that there may be material tax consequences to the      Subscriber of buying, holding or disposing of the Securities and that the      Corporation gives no opinion and makes no representation with respect to      any such tax consequences to theSubscriber; |
|------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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

| (dd)   | the      Subscriber has been independently advised as to the resale restrictions      respecting the Securities under applicable securities laws and will comply      with such restrictions; |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (ee)   | the      Corporation has advised the Subscriber that the Corporation is relying on      an exemption or “safe harbour” from the requirements of the Ontario      Securities Act to provide the Subscriber with a prospectus and to      sell securities through a person registered to sell securities under      the Ontario Securities Act and, as a consequence of acquiring the      Purchased Units pursuant to this exemption, certain protections, rights      and remedies provided by the Ontario Securities Act, including      statutory rights of rescission or damages, will not be available to      the Subscriber; |
|------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (ff)   | the      Subscriber has not received or reviewed an offering memorandum or any      material which appears or purports to describe the business and affairs of      the Corporation that has been prepared primarily for delivery to and      review by the Subscriber so as to assist the Subscriber to make an      investment decision relating to the Purchased  Units; |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (gg)   | without      limiting the generality of the foregoing clause (ee) and (ff),      no prospectus, or registration statement or other offering document has      been filed by the Corporation with any securities commission or other      securities regulatory authority under applicable securities laws,      and: |
|------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (i)   | the      Subscriber is restricted from using most of the civil remedies available      under such laws; |
|-----------------|---------------------------------------------------------------------------------------------------------|

| (ii)   | the      Subscriber may not receive information that would otherwise be required to      be provided to the Subscriber and the Beneficial Purchasers under such      laws; and |
|------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (iii)   | the      Corporation is relieved from certain obligations that would otherwise      apply under such laws; |
|-------------------|------------------------------------------------------------------------------------------------------------|

| (hh)   | the      certificates representing the Purchased Units, as well as all certificates      issued in exchange for or in substitution of the foregoing, will      bear, on the face of such certificate, the following      legends: |
|------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (ii)   | the      Securities have not been and will not be registered under the U.S.      Securities Act, and may not be offered, sold, resold or delivered within      the United States of America, its territories or possessions, other than      pursuant to an effective registration statement or an applicable exemption      under the U.S. Securities Act; |
|------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (jj)   | the      Subscriber consents to the Corporation making a notation on its records or      giving instruction to the registrar and transfer agent of the Corporation      in order to implement the restrictions on transfer set forth and described      herein; |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (kk)   | the      Subscriber has been notified by the Corporation that the Corporation may      deliver information pertaining to the Subscriber and this subscription to      securities regulatory authorities in Canada and elsewhere, including      without limitation, the Ontario Securities Commission (“OSC”), that this      information is being collected indirectly by such securities regulatory      authorities under the authority granted to them in securities legislation,      that this information is being collected for the purposes of the      administration and enforcement of applicable securities legislation, and      that if such information is provided by the Corporation to the OSC, then      the title, business address and business telephone number of the public      official in Ontario who can answer questions about the OSC’s indirect      collection of information will be provided by the Corporation to the      Subscriber, and the Subscriber hereby consents to such collection of      information by the Corporation on behalf of and for the said securities      regulatory authorities; |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (ll)   | the      consideration paid by the Subscriber for the Purchased Units is at least      50,000 Euros; |
|------------------|------------------------------------------------------------------------------------------------------|

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

| (nn)   | the      funds representing the aggregate Purchase Price for the Subscriber’s Units      which will be advanced by the Subscriber hereunder will not represent      proceeds of crime for the purposes of the Proceeds of Crime (Money      Laundering) and Terrorist Financing Act (Canada) (the “Proceeds of Crime      Act”) or the Uniting and Strengthening America by Providing Appropriate      Tools Required to Intercept and Obstruct Terrorism (the “Patriot Act”) and      the Subscriber acknowledges that the Corporation may in the future be      required by law to disclose the Subscriber’s name and other information      relating to this Agreement and the Subscriber’s subscription hereunder, on      a confidential basis, pursuant to the Proceeds of Crime Act and/or the      Patriot Act.  To the best of the knowledge of the Subscriber:      (a) none of the funds to be provided in payment of the Purchase Price (i)      have been or will be derived from or related to any activity that is      deemed criminal under the law of Canada, the United States of America, any      European country or any other jurisdiction, or (ii) are being tendered on      behalf of a person or entity who has not been identified to the      Subscriber; and (b) the Subscriber shall promptly notify the Corporation      if the Subscriber discovers that any of such representations in clause (a)      ceases to be true, and to provide the Corporation with appropriate      information in connection therewith;and |
|------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (oo)   | the      Subscriber will not trade in any securities of the Corporation until 48      hours following the completion of the purchase of the Purchased Units or      the termination or non-acceptance of this  Agreement. |
|------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 4.   | Indemnity |
|----------------|-----------|

| 5.   | Survival |
|----------------|----------|

| 6.   | Governing      Law |
|----------------|--------------------|

| 7.   | Assignment |
|----------------|------------|

| 8.   | Further      Assurances |
|----------------|-------------------------|

| 9.   | Severability |
|----------------|--------------|

----

----

|   | a) | “Business      Day” means any day, other than a Saturday or Sunday, in which commercial      banks in Toronto, Ontario are open for commercial banking business during      normal banking hours. |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b) | “Closing      Date” means that day determined by Helix, which is not more than five (5)      Business Days after Helix has satisfied the conditions precedent set out      in paragraph 5.01 of this Agreement, provided that the Closing Date shall      be no later than 30 days following the date of acceptance of the      Subscription Agreement or such other date as may be agreed to by the      parties in writing. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | c) | “Escrow      Agent” means Computershare Trust Company of  Canada. |
|--------|----|-------------------------------------------------------------------------------|

|   | d) | “Regulatory      Approval” means conditional approval of the Toronto Stock Exchange (the      “Exchange”) and approval of any other regulatory authorities in Canada      that may have jurisdiction over the transactions contemplated herein or      the parties hereto. |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | e) | “Subscription      Agreement” means that particular Subscription Agreement made between the      Subscriber and Helix, to which this Escrow Agreement is attached as      Schedule “B”. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | f) | “Subscription      Proceeds” means the full Purchase Price for the Units purchased by the      Subscriber as set out in the Subscription Agreement, and tendered to the      Escrow Agent. |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | g) | “Unit”      means a Unit of Helix comprising one common share and one warrant, as      described in the SubscriptionAgreement. |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------|

|   | h) | “Unit      Share” means a common share in the capital of Helix forming part of the      Units. |
|--------|----|------------------------------------------------------------------------------------------------------------|

|   | i) | “Warrant”      means a warrant of Helix as described in the Subscription      Agreement. |
|--------|----|------------------------------------------------------------------------------------------------------|

----

| 3. | REPORTING TO      HELIX |
|----|-------------------------|

| 4. | DELIVERY OF THE SHARE      CERTIFICATES AND RELEASE OF THE SUBSCRIPTION    PROCEEDS |
|----|-------------------------------------------------------------------------------------|

| 5. | CONDITIONS FOR RELEASE      OF SUBSCRIPTION PROCEEDS TOHELIX |
|----|--------------------------------------------------------------|

|   | a) | Written      notice from the Toronto Stock Exchange that the terms and conditions of      the private placement have been accepted for filing and have been      conditionally approved; |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b) | Such      further and other regulatory approvals as may be necessary and required in      the reasonable opinion of counsel to Helix.  If no such      approvals are required, then Helix will provide an officer’s certificate      to the Escrow Agent to that effect; |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | c) | Treasury      Order(s) directed to the transfer agent authorizing the issuance of the      Certificate(s) for  the Unit Shares forming part of the Units      purchased with the SubscriptionProceeds; |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | d) | Warrant      Certificates for the Warrants forming part of the Units purchased with the      Subscription Proceeds;and |
|--------|----|------------------------------------------------------------------------------------------------------------------------|

|   | e) | Written      confirmation from Helix that it has accepted the Subscription      Agreement. |
|--------|----|--------------------------------------------------------------------------------------------|

| 6. | INDEMNITY |
|----|-----------|

----

| 7. | ESCROW      CLAUSES |
|----|---------------------|

----

| 8. | SINGULAR, PLURAL AND      GENDER |
|----|----------------------------------|

| 9. | ENUREMENT |
|----|-----------|

| 10. | HEADINGS |
|-----|----------|

| 11. | GOVERNING LAW AND      SUBMISSION TO JURISDICTION |
|-----|---------------------------------------------------|

----

| 12. | TIME OF THE      ESSENCE |
|-----|--------------------------|

| 13. | COUNTERPARTS |
|-----|--------------|

| 14. | NOTICE |
|-----|--------|

|   | a. | if      to Computershare: |
|--------|----|---------------------------|

|   | b. | if      to Helix: |
|--------|----|-------------------|

| 15. | CURRENCY |
|-----|----------|

| 15.01 | All monies quoted in this Agreement shall be      stated and paid in lawful money of Canada unless otherwise      stated. |
|-------|---------------------------------------------------------------------------------------------------------------------------|

----

| 16. | ENTIRE      AGREEMENT |
|-----|-----------------------|

| 17. | FURTHER      ASSURANCES |
|-----|-------------------------|

| 18. | SEVERABILITY |
|-----|--------------|

| 19. | NO      WAIVER |
|-----|----------------|

19.01       No 
failure or delay on the part of any Party 
inexercising any 
right, power or remedy 
provided in this Agreement may be, or may be deemed to be, a waiverthereof; nor any single or partial exercise of any 
right,power or remedy 
preclude any other or further exercise ofsuch 
right, power or remedy 
or any other
right, power or remedy
.

| 20. | AMENDMENTS |
|-----|------------|

20.01
This
Agreement may be amended by and upon writtennotice to the 
Escrow Agent 
at any timegiven jointly by Helix and the Subscriber, but the duties and responsibilitiesof the 
Escrow Agent 
shall not be increasedand the indemnities of the 
Escrow Agent 
shall not be decreased without the written consent of the EscrowAgent. No amendment, supplement, modification or waiver or termination of thisAgreement and, unless otherwise specified, no consent or approval by any Party,shall be binding unless executed in writing by the Party to bebound.

| 21. | PRIVACY |
|-----|---------|

| (i)   | to      provide the services required under this agreement and other services that      may be requested from time to time; |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------|

| (ii)   | to      help the Escrow Agent manage its servicing relationships with such      individuals; |
|------------------|----------------------------------------------------------------------------------------------|

| (iii)   | to      meet the Escrow Agent’s legal and regulatory requirements;    and |
|-------------------|---------------------------------------------------------------------------------|

----

| (iv)   | if      Social Insurance Numbers are collected by the Escrow Agent, to perform tax      reporting and to assist in verification of an individual’s identity for      security purposes. |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 22. | AGREEMENT      EFFECTIVE |
|-----|--------------------------|

| 23. | ANTI MONEY      LAUNDERING |
|-----|----------------------------|

----