THE WARRANT AGENT ALL APPLICABLE
TRANSFER OR SIMILAR TAXES, IF ANY, AND, THE CORPORATION AND THE WARRANT AGENT
SHALL NOT BE REQUIRED TO ISSUE OR DELIVER CERTIFICATES REPRESENTING COMMON
SHARES UNLESS OR UNTIL SUCH WARRANTHOLDER SHALL HAVE PAID TO THE WARRANT AGENT
THE AMOUNT OF SUCH TAX, IF ANY, OR SHALL HAVE ESTABLISHED TO THE SATISFACTION OF
THE WARRANT AGENT THAT SUCH TAX HAS BEEN PAID OR THAT NO TAX IS DUE.
(H)
PLACES FOR EXERCISE:
THE CORPORATION HAS
DESIGNATED THE WARRANT AGENT, AT ITS PRINCIPAL OFFICE IN THE CITY OF TORONTO,
ONTARIO, AS THE PLACE AT WHICH THE WARRANTS MAY BE EXERCISED.
THE CORPORATION
WILL GIVE NOTICE TO THE WARRANTHOLDERS PURSUANT TO ARTICLE TWELVE HEREOF OF THE
LOCATION OF ANY OTHER PLACE APPOINTED BY THE CORPORATION AND APPROVED BY THE
WARRANT AGENT AND OF THE CHANGE IN THE LOCATION OF ANY NEW OR EXISTING PLACE
WHERE WARRANTS MAY BE EXERCISED.
(I)
ACCOUNTING TO CORPORATION:
THE WARRANT
AGENT SHALL AS SOON AS PRACTICABLE ACCOUNT TO THE TRANSFER AGENT AND THE
CORPORATION WITH RESPECT TO WARRANTS EXERCISED. ALL SUCH MONIES, AND ANY
SECURITIES OR OTHER INSTRUMENTS, FROM TIME TO TIME RECEIVED BY THE WARRANT AGENT
SHALL BE RECEIVED IN TRUST FOR, AND SHALL BE SEGREGATED AND KEPT APART BY THE
WARRANT AGENT IN TRUST FOR, THE CORPORATION.
WITHIN FIVE BUSINESS DAYS OF
RECEIPT THEREOF THE WARRANT AGENT SHALL FORWARD TO THE CORPORATION (OR TO AN
ACCOUNT OR ACCOUNTS OF THE CORPORATION WITH A BANK OR TRUST COMPANY DESIGNATED
IN WRITING BY THE CORPORATION FOR THAT PURPOSE) ALL MONIES RECEIVED THROUGH THE
EXERCISE OF WARRANTS PURSUANT TO THIS ARTICLE FOUR.
(J)
RECORD OF EXERCISE:
THE WARRANT AGENT
SHALL RECORD THE PARTICULARS OF THE WARRANTS EXERCISED FOR COMMON SHARES WHICH
PARTICULARS SHALL INCLUDE THE NAMES AND ADDRESSES OF THE PERSONS WHO BECOME
HOLDERS OF COMMON SHARES, IF ANY, ON EXERCISE, THE NUMBER OF COMMON SHARES
ISSUED, THE EXERCISE DATE AND THE EXERCISE PRICE.
WITHIN FIVE BUSINESS DAYS OF
EACH EXERCISE DATE, THE WARRANT AGENT SHALL PROVIDE SUCH PARTICULARS IN WRITING
TO THE CORPORATION AND THE TRANSFER AGENT.
Section 4.02
Effect of Exercise of Warrants:
(A)
EFFECT OF EXERCISE:
UPON COMPLIANCE BY THE
HOLDER OF ANY WARRANT CERTIFICATE WITH THE PROVISIONS OF SECTION 4.01 HEREOF,
BUT SUBJECT TO THE PROVISIONS OF SUBSECTION SECTION 2.02(D) HEREOF, THE NUMBER
OF COMMON SHARES SUBSCRIBED FOR AND PURCHASED SHALL BE DEEMED TO HAVE BEEN
ISSUED AND THE PERSON OR PERSONS TO WHOM SUCH COMMON SHARES ARE TO BE ISSUED
SHALL BE DEEMED TO HAVE BECOME THE HOLDER OR HOLDERS OF RECORD OF SUCH COMMON
SHARES ON THE EXERCISE DATE THEREOF UNLESS THE TRANSFER BOOKS OF THE CORPORATION
SHALL BE CLOSED ON SUCH DATE, IN WHICH CASE THE COMMON SHARES SUBSCRIBED FOR AND
PURCHASED SHALL BE DEEMED TO HAVE BEEN ISSUED, AND SUCH PERSON OR PERSONS SHALL
BE DEEMED TO HAVE BECOME THE HOLDER OR HOLDERS OF RECORD OF SUCH COMMON SHARES
ON THE DATE ON WHICH SUCH TRANSFER BOOKS ARE REOPENED BUT SUCH COMMON SHARES
SHALL BE ISSUED