Document:

Exhibit 10.13

 

AMERISOURCEBERGEN CORPORATION

 

PERFORMANCE-BASED RESTRICTED STOCK UNIT AWARD TO EMPLOYEE

 

Participant:

 

Target Number of Restricted

Stock Units Subject to Grant:

 

Date of Grant:

 

Vesting Date:

 

RECITALS

 

This Restricted Stock Unit Award (the “Award”) is made by AmerisourceBergen Corporation, a Delaware corporation (the “Company”), pursuant to the AmerisourceBergen Corporation Equity Incentive Plan, as amended (the “Plan”). The Board of Directors of the Company has directed the Compensation and Succession Planning Committee (the “Committee”) to administer the Plan.

 

WHEREAS, the Committee has granted to the Participant an award of Restricted Stock Units, subject to certain restrictions and on the terms and conditions contained in this Award Agreement.

 

NOW, THEREFORE, in consideration of the foregoing and the premises contained herein and intending to be legally bound hereby:

 

1.                                      Definitions. Unless otherwise defined herein, capitalized terms used in this Award Agreement shall have the meanings ascribed to them in the Plan. As used herein:

 

(a)                                 “Award” means an award of Restricted Stock Units hereby granted.

 

(b)                                 “Date of Grant” means the date on which the Company awarded the Restricted Stock Units to the Participant pursuant to the Plan.

 

(c)                                  “Payout Level” means the actual number of Shares to which the Participant may become entitled based on the extent to which the Performance Criteria have been achieved, as determined and certified by the Committee following the Vesting Date.  The Payout Level shall be calculated by multiplying the Target Number of Restricted Stock Units by a percentage ranging from 0% to 150% as set forth in Exhibit A hereto; provided, however, that

 

(i)                                     in the event a Change in Control occurs during the Performance Period: (A) the three-year Performance Period shall be deemed to end on the last day of the calendar quarter ending prior to the Change in Control; and (B) the Payout Level shall be based on the extent to which the Performance Criteria were achieved for such abbreviated period as determined and certified by the Committee; and

 

(ii)                                  for purposes of Section 3(b) below, the Payout Level shall be based on the extent to which the Performance Criteria were achieved, as determined and certified by the Committee, based on (A) actual performance through the most recently completed calendar quarter prior to the date of death or Disability, or (B) the Payout Level determined in clause 1(c)(i) above if a Change in Control occurs prior to the date of death or Disability.

 

 

(d)                                 “Performance Criteria” means the performance criteria established by the Committee and as set forth in Exhibit A hereto.

 

(e)                                  “Performance Period” means the period beginning on [Date] and ending on [Date].

 

(f)                                   “Restricted Stock Units” means the Restricted Stock Units which are the subject of the Award hereby granted.

 

(g)                                  “Settlement Date” means [Date].

 

(h)                                 “Shares” mean shares of the Company’s Common Stock.

 

2.                                Grant of Restricted Stock Units.  Subject to the terms and conditions set forth herein and in the Plan, the Company hereby grants to the Participant an award of Restricted Stock Units entitling the Participant to receive a number of Shares based on the extent, if any, to which the applicable vesting criteria are satisfied.  The maximum number of Shares issuable under the award shall be 150% of the Target Number of Restricted Stock Units.  The Target Number of Restricted Stock Units shall be subject to adjustment pursuant to Section 17 of the Plan.

 

3.                                      Vesting.  Subject to the terms and conditions set forth herein and in the Plan, a percentage of the Restricted Stock Units equal to the Payout Level shall become vested, if at all, provided that the Participant remains continuously employed by the Company from the Date of Grant through the Vesting Date, except to the extent that vesting occurs pursuant to Sections 3(a), (b), (c) or (d).  Any Restricted Stock Units that are determined to have not vested for failure to achieve the Performance Criteria shall be immediately forfeited.  The determination by the Committee of the number of Shares deliverable to the Participant shall be binding on the Participant and conclusive for all purposes. Solely for purposes of this Award Agreement, employment with the Company will be deemed to include employment with any Subsidiary of the Company (for only so long as such entity remains a Subsidiary of the Company).

 

(a)                                 Change in Control.  If, within two (2) years following a Change in Control the Participant’s employment with the Company is involuntarily terminated by the Company, whether or not for Cause, the percentage of the Restricted Stock Units equal to the applicable Payout Level shall become vested, if at all.

 

(b)                                 Death or Disability.  If the Participant ceases to be employed by the Company prior to the Vesting Date but after [Date] as a result of his death or Disability then the percentage of the Restricted Stock Units that shall become vested, if at all, shall be equal to the applicable Payout Level multiplied by a fraction, the numerator of which is the number of days in the Performance Period up to the date of such death or Disability, and the denominator of which is 1,095.

 

(c)                                  Termination by the Company without Cause.  If the Participant ceases to be employed by the Company prior to the Vesting Date but after [Date] as a result of his termination by the Company without Cause (other than a termination described in Section 3(a)), then the percentage of the Restricted Stock Units that shall become vested, if at all, shall be equal to the Payout Level as determined following the Vesting Date (subject to Section 1(c)(i)) as if the Participant had continued in active employment with the Company through the Vesting Date, multiplied by a fraction, the numerator of which is the number of days in the Performance Period up to the date of such termination, and the denominator of which is 1,095. Notwithstanding any other provision of this Award Agreement, any vesting of Restricted Stock Units pursuant to this Section 3(c) is conditioned upon the Participant’s execution during the applicable release review period, and non-revocation, of a written release (in such form reasonably prescribed by the Company or in substantially the form attached to an employment agreement entered into by and between the Participant and the Company or any of its affiliates) of any and all claims against the Company and all related parties.

 

(d)                                 Retirement.  In the event that the Participant’s employment with the Company terminates during the Performance Period due to the Participant’s Voluntary Retirement, then the Restricted Stock

 

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Units shall not be immediately forfeited and shall become vested, if at all, based on the Payout Level as determined following the Vesting Date (subject to Section 1(c)(i)) as if the Participant had continued in active employment with the Company through the Vesting Date. For purposes of this Agreement, “Voluntary Retirement” means any voluntary termination of employment by the Participant after reaching age 62 and completing sixty months of continuous service with the Company or its Subsidiaries.

 

4.                                Forfeiture of Restricted Stock Units.  If at any time during the Performance Period the Participant is no longer serving the Company as an employee for any reason other than as described in Section 3(a), (b), (c) or (d), the Restricted Stock Units shall be forfeited by the Participant and deemed canceled by the Company.

 

5.                                      Rights of Participant.  The Participant shall not have the rights of a stockholder of the Company with respect the Shares represented by the Restricted Stock Units, including, without limitation, the right to vote the Shares represented by the Restricted Stock Units, unless and until such Shares have been delivered to the Participant in accordance with Section 9.

 

6.                                      Dividend Equivalents.  The Participant shall not receive cash dividends on the Restricted Stock Units subject to this Award, but instead shall be entitled to a cash payment from the Company determined as of each cash dividend payment date with respect to the Shares issuable under this Award with a record date occurring at any time following the Date of Grant but prior to the date that the Shares issuable under this Award are delivered to the Participant in accordance with Section 9. Such cash payment shall be equal to the dividend that would have been paid on the actual number of Share issuable under this Award had that number of Shares been issued and outstanding and entitled to the dividend.  Cash payments for each cash dividend payment date with respect to the Shares with a record date occurring prior to the date that the Shares subject to the Award are delivered to the Participant in accordance with Section 9 shall be accrued until such delivery date and paid to the Participant at the same time delivery of the Shares issuable under this Award is made to the Participant in accordance with Section 9.

 

7.                                      Notices.  Any notice to the Company provided for in this instrument shall be addressed to the Committee at 1300 Morris Drive, Chesterbrook, PA 19087, and any notice to the Participant shall be addressed to such Participant at the current address shown on the payroll of the Company, or to such other address as the Participant may designate to the Company in writing. Any notice shall be delivered by hand, sent by telecopy or enclosed in a properly sealed envelope addressed as stated above, registered and deposited, postage prepaid, in a post office regularly maintained by the United States Postal Service.

 

8.                                      Securities Laws, etc.  The Committee may from time to time impose any conditions on the Award, and the Shares subject to this Award, as it deems necessary or advisable to ensure that the Plan and this Award satisfy the conditions of Rule 16b-3, and that such Shares are issued and resold in compliance with the Securities Act of 1933, as amended. The Company may require that the Participant represent that the Participant is holding the Shares for the Participant’s own account and not with a view to or for sale in connection with any distribution of the Shares, or such other representation as the Committee deems appropriate.

 

9.                                      Delivery of Shares.  Notwithstanding any provision of this Award Agreement or the Plan to the contrary (other than Section 10 hereof and Section 15 of the Plan), the Shares issuable under this Award (or such other consideration as permitted by Section 18(b) of the Plan) that have become nonforfeitable shall be delivered to the Participant (i) after the Vesting Date and no later than the Settlement Date, or (ii) if earlier, within 60 days following the date that the Participant’s employment with the Company ceases as described in Section 3(a) or (b). The certificates for such Shares will be delivered without payment from the Participant and without any legend or restrictions, except for such restrictions as may be imposed by the Committee, in its sole judgment, under Section 8, provided that no certificates for Shares will be delivered to Participant until appropriate arrangements have been made with the Company for the withholding of any taxes which may be due with respect to such Shares. The Company may condition delivery of certificates for Shares upon the prior receipt from the Participant of any undertakings which it may determine are required to ensure that the certificates are being issued in compliance with federal and state securities laws. The right to payment of any fractional Shares shall be satisfied in cash, measured by the product of the fractional amount times the Fair Market Value of a Share on the date that the Shares are delivered pursuant to this Section 9, as determined by the Committee. Notwithstanding anything herein to the

 

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contrary or otherwise, to the extent compliance with the requirements of Treas. Reg. §1.409A-3(i)(2) (or any successor provision) is necessary to avoid the application of an additional tax under Section 409A of the Internal Revenue Code (“Section 409A”) on the Award, then notwithstanding any other provision of this Award Agreement (or any otherwise applicable plan, policy, agreement or arrangement), the delivery of Shares pursuant to this Agreement to the Participant that are otherwise due within six months following the date of the Participant’s separation from service will be deferred and delivered to the Participant on the first day of the seventh month after the date of the Participant’s separation from service or, if earlier, the date of the Participant’s death. To the maximum extent permitted under Section 409A and its corresponding regulations, this Award is intended to be exempt from Section 409A, including, without limitation, by reason of the short-term deferral exemption under Section 409A. If the delivery of Shares pursuant to this Agreement constitutes a “deferral of compensation” within the meaning of Section 409A, any such delivery to be made upon a termination of employment will only be made upon a “separation from service” within the meaning given it under Section 409A and its corresponding regulations.

 

10.                               Special Forfeiture and Repayment Rules.

 

(a)                                 The Participant hereby acknowledges and agrees that in the event that the Participant experiences a Triggering Event (as defined in the Plan) and unless the Committee or its delegate determines otherwise, then:

 

(i)                                     any portion of the Award that remains unvested as of the date the Committee or its delegate determines that the Participant has experienced a Triggering Event, and any portion of the Award that has so vested but the Shares represented by such vested portion have not yet been delivered in accordance with Section 9, shall be immediately and automatically forfeited; and

 

(ii)                                  if the Award has vested and the Shares represented by such vested Award has been delivered to the Participant in accordance with Section 9 within the 12-month period immediately prior to the date of the acts or omissions that gave rise to such Triggering Event or anytime thereafter, within 10 days of receiving written notice from the Company that a Triggering Event has occurred, the Participant shall deliver to the Company a number of unrestricted Shares equal to the number of Shares delivered to the Participant in respect of the Award during such period; provided that if, at the time delivery of the Shares by the Participant is required, the Participant cannot deliver a number of unrestricted Shares equal to the number of Shares delivered to the Participant in respect of the Award during such period, in addition to the delivery of the number of unrestricted Shares by the Participant at such time, the Participant shall be required to pay to the Company an amount equal to the product of the number of such Shares delivered to the Participant in respect of the Award during such period (less the number of Shares contemporaneously delivered by the Participant to the Company), multiplied by the Fair Market Value of one Share as of the date the Award became vested.

 

(b)                                 The Committee or its delegate shall determine in its sole discretion whether a Triggering Event has occurred with respect to the Participant.

 

(c)                                  The Participant hereby acknowledges and agrees that the restrictions contained in the Plan are being made for the benefit of the Company in consideration of Participant’s receipt of the Award. The Participant further acknowledges that the receipt of the Award is a voluntary action on the part of the Participant and that the Company is unwilling to provide the Award to the Participant without including the restrictions contained in the Plan.

 

(d)                                 The Participant hereby consents to a deduction from, and set-off against, any amounts owed to the Participant by the Company or its affiliates from time to time (including, but not limited to, amounts owed to the Participant as wages, severance payments or other fringe benefits) to the extent of the amounts owed to the Company by the Participant under this Award Agreement.

 

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(e)                                  The Special Forfeiture and Repayments provisions of this Award Agreement and the Plan are in addition to, not in lieu of, any other obligation and/or restriction that the Participant may have with respect to the Company, whether by operation of law, contract, or otherwise, including, without limitation, any non-competition and non-solicitation obligations contained in an employment agreement entered into by and between the Participant and the Company or any of its affiliates.

 

11.                         Transferability.  The Award may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Participant otherwise than by will or by the laws of descent and distribution, and any purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance not permitted by this Section 11 shall be void and unenforceable.

 

12.                               Miscellaneous.

 

(a)                                 The Award granted hereunder shall not confer upon the Participant any right to continue in the employment of the Company or any subsidiary or affiliate of the Company.

 

(b)                                 The Participant acknowledges that the Company has not advised the Participant regarding the Participant’s income tax liability in connection with the grant or vesting of the Award or the delivery of the Shares subject to the Award. The Participant is not relying on any statements or representations of the Company or any of its agents in regard to such liability.  The Participant understands that the Participant (and not the Company) shall be responsible for the Participant’s own tax liability that may arise as a result of the transactions contemplated by this Award Agreement.

 

(c)                                  The validity, performance, construction and effect of this Award shall be governed by and determined in accordance with the law of the State of Delaware, without giving effect to conflicts of laws principles thereof.

 

(d)                                 The Participant has received a copy of the Plan, a copy of which is attached hereto, has been provided with the opportunity to read the Plan and is familiar with the terms and provisions thereof and hereby accepts this Award subject to all of the terms and provisions of this Award Agreement and the Plan, including, without limitation, the Special Forfeiture and Repayment provisions of the Plan.  All decisions or interpretations of the Board or the Committee upon any questions arising under the Plan or this Award Agreement shall be binding, conclusive and final.

 

13.                               GRANT ACCEPTANCE.  YOU MUST ACCEPT THE TERMS OF THIS AGREEMENT WITHIN 60 DAYS OF RECEIPT. IF YOU DO NOT ACCEPT THE TERMS AS INSTRUCTED, THIS AGREEMENT WILL AUTOMATICALLY, WITHOUT FURTHER ACTION OF THE COMPANY OR THE COMMITTEE, TERMINATE AND THE AWARD WILL BE FORFEITED AT MIDNIGHT ON THE 60TH DAY.

 

IN WITNESS WHEREOF, the Company has caused its duly authorized officer to execute this Award Agreement effective as of the Date of Grant.

 

 

	
 
    	
AMERISOURCEBERGEN CORPORATION
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    

 

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EXHIBIT A

PERFORMANCE CRITERIAEnertopia Corp. - Exhibit 10.1 - Filed by newsfilecorp.com

THE SECURITIES TO WHICH THIS PRIVATE PLACEMENT SUBSCRIPTION
AGREEMENT RELATES HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE
COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE, AND WILL BE ISSUED IN
RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933,
AS AMENDED (THE “1933 ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT
PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT OR PURSUANT
TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE
REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN ACCORDANCE WITH APPLICABLE
STATE SECURITIES LAWS. 

	ENERTOPIA CORP. 
	(the "Issuer") 
	SUBSCRIPTION AGREEMENT 
	Units (Share and Warrant) 
	 

The units (the "Units") will be sold at a price of US$0.05
per Unit , with each Unit being comprised of: 

	one (1) common share of the Issuer (the "Share"); and
  
	one share purchase warrant (each whole warrant, a "Warrant"). Each Warrant
  entitles the holder thereof to acquire one (1) common share (a "Warrant
  Share") of the Issuer at a price of US$0.10 per Warrant Share until the
  date that is three years from the date of Closing of this Subscription
  Agreement (the "Expiry Date"), subject to acceleration as set out in Section
  2.2 of Appendix A. 

The Units will be offered in the United States, British
Columbia, Ontario and such other jurisdictions as may be determined by the
Issuer, including jurisdictions outside of Canada and the United States,
pursuant to exemptions from the registration and prospectus requirements of
applicable securities legislation. 

INSTRUCTIONS FOR COMPLETING THIS SUBSCRIPTION PRIOR TO
DELIVERY TO THE ISSUER 

	1. 	
      The subscriber (the "Subscriber") must complete the
      information required on page 2 with respect to subscription amounts and
      registration and delivery particulars.

	 	 	 
	2. 	
      The Subscriber must complete the personal information
      required on page 4. The Subscriber acknowledges and agrees that this
      information will be provided to the Exchange.

	 	 	 
	3. 	
      The Subscriber must complete the applicable forms (the
      "Forms") at the end of Schedule B:

	 	 	 
		(a) 	
      All Subscribers must complete Form 1 –
      "Certificate for Exemption".

	 	 	 
		(b) 	
      All Subscribers who are U.S. Persons and are U.S.
      Accredited Investors (as defined in section 1.1 of Schedule A herein)
      must complete Form 2 – "Certificate of U.S.
      Accredited Investor Status".

	 	 	 
	4. 	
      Return this subscription and all Forms to the offices of
      Enertopia Corp, Suite 950 – 1130 W Pender St, Vancouver BC, V6E 4A4. (FAX:
      604-685-1602) Return the total subscription price by certified cheque,
      money order or bank draft drawn on a major U.S or Canadian chartered bank
      and made payable to Enertopia Corp. in the amount of the applicable
      subscription funds or by wire to Enertopia Corp. pursuant to the Wiring
      Instructions in Form 3 .

	 	 	 
	5. 	
      Subscribers who are not purchasing as principal (or
      deemed under applicable securities laws to be purchasing as principal)
      must ensure that they disclose the identity of the Disclosed Principal (as
      hereafter defined) on page 2, and that they complete and provide as a
      separate attachment the personal information required on page 4 and all
      applicable Forms on behalf of such Disclosed
Principal.

Subscription Agreement
- 2 - 

TO: ENERTOPIA CORP. 

	1. 	
      The Subscriber irrevocably subscribes for and agrees to
      purchase from the Issuer the following securities:

     No. of
Units at US$0.05 each: 
____________________________________________

     Total
subscription price for the subscribed Units:

____________________________________________

	2. 	
      The Subscriber and the Issuer agree that the Units, and
      the offering thereof, shall have and be conducted on the terms and
      conditions specified in Schedules "A" and "B" hereto. The Subscriber
      hereby makes the representations, warranties, acknowledgments and
      agreements set out in Schedules "A" and "B" hereto and in all applicable
      Forms, and acknowledges and agrees that the Issuer and its respective
      counsel will and can rely on such representations, warranties,
      acknowledgments and agreements should this subscription be
  accepted.

	 	 
	3. 	
      Identity of and execution by
Subscriber:

	BOX A: SUBSCRIBER INFORMATION AND EXECUTION 	 	
	 
    	 	  
	(name of subscriber)
    	 	 
    
	 
    	 	  
	(address – include
      city, province and postal code) 	 	 
    
	  	 	X 
	(telephone number)
      (email address) 	 	(signature of subscriber/authorized signatory) 
	 
    	 	  
	(SSN or Tax ID number) 	 	(if applicable, print name of signatory and office)
    

		
      Execution hereof by the Subscriber shall constitute an
      offer and agreement to subscribe for the Units set out in Item 1 above
      pursuant to the provisions of Item 2 above, and acceptance by the Issuer
      shall effect a legal, valid and binding agreement between the Issuer and
      the Subscriber. This subscription may be executed and delivered by
      facsimile, and shall be deemed to bear the date of acceptance
  below.

	 	 
	4. 	
      If the Units are to be registered other than as set out
      in Box A, the Subscriber directs the Issuer to register and deliver the
      Units as follows:

	BOX B: ALTERNATE REGISTRATION INSTRUCTIONS 
	 
	(name of registered holder) 
	 
	(address of registered holder – include city, province and
      postal code) 
	 
	(registered holder: contact name, contact telephone number and
      contact email address) 

	5. 	
      If the Units are to be delivered other than as set out in
      Box A (or if completed, Box B):

	BOX C: ALTERNATE DELIVERY INSTRUCTIONS 
	 
	(name of recipient) 
	 
	(address of recipient – include city, province and postal code)
    
	 
	(recipient: contact name, contact telephone number and contact
      email address) 

Subscription Agreement
- 3 - 

	6. 	
      If the Subscriber is purchasing as agent for a principal,
      and is not a trust company or trust corporation purchasing as trustee or
      agent for accounts fully managed by it or is not a person acting on behalf
      of a fully account managed by it (and in each such case satisfying the
      criteria set forth in NI-45-106), complete Box D below and provide as a
      separate attachment the personal information required on page 3 and all
      applicable Forms on behalf of such principal (a "Disclosed Principal
      "):

	BOX D: IDENTIFICATION OF PRINCIPAL 
	 
	 
	(name of Disclosed Principal) 
	 
	 
	(address of Disclosed Principal – include city, province and
      postal code) 
	 
	(Disclosed Principal: contact name, contact telephone number
      and contact email address) 

ACCEPTANCE 

	This subscription is accepted and agreed to by the 	)	ENERTOPIA CORP. 
	 	)	
	Issuer as of the day of _______________, 2013. 	)	
	 	)	Per:  
      ________________________________________
	 	 	              
      Authorized Signatory 

Subscription Agreement
- 4 - 
PERSONAL
INFORMATION 

	1. 	
      Present Ownership of Securities of the Issuer
      . The Subscriber either [check appropriate box]
    :

	 	[   ] 	
      owns, directly or indirectly, or exercises control or
      direction over, no common shares of the Issuer or securities
      convertible into common shares of the Issuer; or 

	 	  	     
	 	[   ] 	
      owns, directly or indirectly, or exercises control or
      direction over, __________common shares of the Issuer and securities
      convertible or exercisable to acquire an additional __________common
      shares of the Issuer. 

	2. 	
      Insider Status . The Subscriber
      either [check appropriate box] :

	 	[   ] 	is an "Insider" of the Issuer as defined in the
      British Columbia Securities Act , determined as follows:
  

	 	(a) 	
      a director or senior officer of the Issuer;

	 	(b) 	
      a director or senior officer of a person that is itself
      an insider or subsidiary of the Issuer;

	 	(c) 	
      a person that has:

	 		(1) 	
      direct or indirect beneficial ownership of;

	 		(2) 	
      control or direction over; or

	 		(3) 	
      a combination of direct or indirect beneficial ownership
      of and of control or direction over,

	 		
      securities of the Issuer carrying more than 10% of the
      voting rights attached to all the Issuer's outstanding voting securities,
      excluding, for the purpose of the calculation of the percentage held, any
      securities held by the person as underwriter in the course of a
      distribution, or

	 	(d) 	
      the Issuer itself, if it has purchased, redeemed or
      otherwise acquired any securities of its own issue, for so long as it
      continues to hold those securities; or

	 	[   ] 	is not an Insider of the Issuer.

	3. 	
      "Pro Group" Status . The Subscriber
      either [check appropriate box] :

	 	[   ] 	is a member of the "Pro Group" as defined in
      the Rules of the Exchange, determined as follows: 

	 	(a) 	
      subject to subparagraphs (b), (c) and (d), "Pro Group"
      shall include, either individually or as a group:

	 		(1) 	
      the member (i.e. a member of the Exchange under the
      Exchange requirements);

	 		(2) 	
      employees of the member;

	 		(3) 	
      partners, officers and directors of the member;

	 		(4) 	
      affiliates of the member; and

	 		(5) 	
      associates of any parties referred to in subparagraphs
      (1) through (4);

	 	(b) 	
      the Exchange may, in its discretion, include a person or
      party in the Pro Group for the purposes of a particular calculation where
      the Exchange determines that the person is not acting at arm's length of
      the member;

	 	(c) 	
      the Exchange may, in its discretion, exclude a person
      from the Pro Group for the purposes of a particular calculation where the
      Exchange determines that the person is acting at arm's length of the
      member; and

	 	(d) 	
      the member may deem a person who would otherwise be
      included in the Pro Group pursuant to subparagraph (a) to be excluded from
      the Pro Group where the member determines that:

	 		(1) 	
      the person is an affiliate or associate of the member
      acting at arm's length of the member;

	 		(2) 	
      the associate or affiliate has a separate corporate and
      reporting structure;

	 		(3) 	
      there are sufficient controls on information flowing
      between the member and the associate or affiliate; and

	 		(4) 	
      the member maintains a list of such excluded persons;
      or

	 	[   ] 	is not a member of the Pro Group.

SCHEDULE A 

	1. 	
      Interpretation

	 	 	 
	1.1 	
      Unless the context otherwise requires, reference in this
      subscription to:

		(a) 	
      "Applicable Securities Laws" means the Securities Act or
      analogous legislation of the Reporting Jurisdictions and the Selling
      Jurisdictions and all rules, regulations, policies, orders, notices and
      other instruments incidental thereto;

	 	 	 
		(b) 	
      "Closing" refers to the completion of the purchase and
      sale of the Units, and if the purchase and sale occurs in two or more
      tranches, the completion of each shall be a "Closing";

	 	 	 
		(c) 	
      "NI45-102" and "NI45-106" refer to National Instrument
      45-102 and National Instrument 45-106, respectively, of the Canadian
      Securities Administrators;

	 	 	 
		(d) 	
      "Public Record" refers to all public information which
      has been filed by the Issuer pursuant to the Applicable Securities Laws of
      the Reporting Jurisdictions and otherwise pursuant to the Applicable
      Securities Laws of any additional Selling Jurisdictions;

	 	 	 
		(e) 	
      "Reporting Jurisdictions" refers to the Provinces of
      British Columbia and Ontario and the United States of America;

	 	 	 
		(f) 	
      "Selling Jurisdictions" refers to the Provinces of
      British Columbia, Ontario, the United States and all other jurisdictions
      where the Units may be sold;

	 	 	 
		(g) 	
      "subscription" means this subscription agreement and
      includes all schedules hereto and the Forms; and

	 	 	 
		(h) 	
      "U.S. Person" means a U.S. Person as that term is defined
      in Rule 902(o) of Regulation S promulgated under the U.S. Securities
      Act of 1933 , as amended, and includes (i) any natural person resident
      in the United States and (ii) any partnership or corporation organized or
      incorporated under the laws of the United States, among other persons
      specified in such Rule.

	1.2 	
      Unless otherwise stated, all dollar figures herein
      expressed are in U.S. Dollars.

	 	 
	1.3 	
      References imputing the singular shall include the plural
      and vice versa; references imputing individuals shall include
      corporations, partnerships, societies, associations, trusts and other
      artificial constructs and vice versa; and references imputing gender shall
      include the opposite gender.

	2. 	
      Description of Offering and
    Securities

	 	 
	2.1 	
      The Issuer is offering (the "Offering") up to 8,000,000
      Units at a price of US$0.05 per Unit, each comprised of a common share and
      one Warrant, for aggregate gross proceeds of up to US$400,000. Subject to
      the approval from the Exchange, the Issuer may, in its discretion,
      increase the size of the Offering.

	 	 
	2.2 	
      Each Unit shall be comprised of:

	 	(a) 	
      one (1) common share of the Issuer (the "Shares");
    and

	 	(b) 	
      one share purchase warrant (a "Warrant"). Each Warrant
      entitles the holder thereof to acquire one (1) common share (a "Warrant
      Share") of the Issuer at a price of US$0.10 per Warrant Share until the
      date that is three years from the date of Closing of this Subscription
      Agreement. In the event that four months and one day after the closing
      date of the Offering or anytime thereafter, the volume weighted average
      closing price of the Issuer’s common shares on the Canadian National Stock
      Exchange (the “Exchange”), for a period of twenty (20) consecutive trading
      days exceeds $0.20, the Issuer may, within five (5) days after such an
      event, provide written notice to the Warrant holders of early expiry and
      thereafter, the Warrants will expire on the date which is thirty (30) days
      after the date of the notice to such Warrant
holders.

Schedule A
- 2 - 

	2.3 	
      The Shares, Warrants and Warrant Shares are collectively
      referred to herein as the "Securities".

	 	 
	2.4 	
      The completion of the Offering is subject to the
      following conditions:

		(a) 	
      the Exchange's conditional acceptance of the Offering on
      such conditions as may be acceptable to the Issuer, acting
    reasonably;

		(b) 	
      the receipt by the Issuer, as the case may be, from the
      Subscriber of any other documents required by Applicable Securities Laws
      which the Issuer requests;

		(c) 	
      the performance by the Subscriber of its covenants under
      this agreement; and

		(d) 	
      the truth, at the time of acceptance and as at Closing,
      of the Subscriber's representations and warranties under this
      agreement.

	3. 	
      Eligibility and Subscription
    Procedure

	3.1 	
      The Offering is being made pursuant to exemptions (the
      "Exemptions") from the registration and prospectus requirements of
      Applicable Securities Laws. The Subscriber and any Disclosed Principal
      acknowledges and agrees that the Issuer and its respective counsel will
      and can rely on the representations, warranties, acknowledgments and
      agreements of the Subscriber and any Disclosed Principal contained in this
      subscription and otherwise provided by the Subscriber to the Issuer to
      determine the availability of Exemptions should this subscription be
      accepted.

	 	 
	3.2 	
      No Offering Memorandum or other disclosure document has
      been or will be prepared or distributed in connection with the
      Offering.

	 	 
	3.3 	
      The Offering is not, and under no circumstances is to be
      construed as, a public offering of the Securities. The Offering is not
      being made, and this subscription does not constitute, an offer to sell or
      the solicitation of an offer to buy the Securities in any jurisdiction
      where, or to any person to whom, it is unlawful to make such offer or
      solicitation.

	 	 
	3.4 	
      Subscribers must duly complete and execute this
      subscription together with all applicable Forms hereto ( please see the
      Instructions listed on the face page hereof ) and return them to the
      Issuer with payment for the total subscription price for the subscribed
      Units as instructed on the face page hereof.

	 	 
	3.5 	
      Subscriptions, once delivered, are irrevocable.

	 	 
	3.6 	
      A subscription will only be effective upon its acceptance
      by the Issuer. Subscriptions will only be accepted if the Issuer is
      satisfied that, and will be subject to a condition for the benefit of the
      Issuer that, the Offering can lawfully be made in the jurisdiction of
      residence of the Subscriber and any Disclosed Principal pursuant to an
      available Exemption and that all other Applicable Securities Laws have
      been and will be complied with in connection with the proposed
      distribution.

	 	 
	3.7 	
      The Issuer is entitled to treat the subscription proceeds
      as an interest free loan to the Issuer until such time as the Subscription
      Agreement is accepted and the certificates representing the Shares and
      Warrants have been issued to the Subscriber. If the funds are wired to the
      Issuer's lawyers, Macdonald Tuskey, those lawyers are authorized to
      immediately deliver the funds to the Issuer without further authorization
      from the Subscriber.

	4. 	
      Closing
Procedure

	4.1 	
      The Offering will be completed at one or more Closings at
      such time or times, on such date or dates, and at such place or places, as
      the Issuer may determine. At each Closing, the Issuer will deliver
      certificates representing the Shares and Warrants to those Subscribers
      whose subscriptions have been accepted, against the duly completed and
      executed subscriptions and applicable subscription price in respect
      thereof.

Schedule A
- 3 - 

	4.2 	
      In the event that the purchase and sale of the Units
      contemplated by this subscription is not completed, the Issuer shall
      immediately return this subscription and the total subscription price for
      the subscribed Units without interest or
deduction.

	5. 	
      Reporting and
Consent

	5.1 	
      The Subscriber, on its own behalf and on behalf of any
      Disclosed Principal, expressly consents and agrees to:

	 	 	 
		(a) 	
      the Issuer collecting personal information regarding the
      Subscriber and any Disclosed Principal for the purpose of completing the
      transactions contemplated by this subscription; and

	 	 	 
		(b) 	
      the Issuer releasing personal information regarding the
      Subscriber, any Disclosed Principal and this Subscription, including the
      Subscriber's and any Disclosed Principal’s name, residential address,
      telephone number, email address and registration and delivery
      instructions, the number of Securities purchased, the number of securities
      of the Issuer held by the Subscriber and any Disclosed Principal, the
      status of the Subscriber and any Disclosed Principal as an insider, as a
      Pro Group member or as otherwise represented herein, and, if applicable,
      information regarding the beneficial ownership or the principals of the
      Subscriber and any Disclosed Principal, to securities regulatory
      authorities in compliance with Applicable Securities Laws, to other
      authorities as required by law and to the registrar and transfer agent of
      the Issuer for the purpose of arranging for the preparation of the
      certificates representing the Securities in connection with the
      Offering.

	 	 	 
			
      The purpose of the collection of the information is to
      ensure the Issuer and its advisors will be able to issue Securities to the
      Subscriber in accordance with the instructions of the Subscriber and in
      compliance with applicable corporate and securities laws, and to obtain
      the information required to be provided in documents required to be filed
      with securities regulatory authorities under Applicable Securities Laws
      and with other authorities as required by law. The Subscriber, on its own
      behalf and on behalf of any Disclosed Principal, further expressly
      consents and agrees to the collection, use and disclosure of all such
      personal information by securities regulatory authorities and other
      authorities in accordance with their requirements, including the provision
      of all such personal information to third party service providers from
      time to time.

	 	 	 
			
      The contact information for the officer of the Issuer who
      can answer questions about the collection of information by the Issuer is
      as follows:

	 	Name & Title: 	Bal Bhullar, Chief Financial Officer 
	 	Issuer Name: 	ENERTOPIA CORP. 
	 	Address: 	Suite 950 – 1130 West Pender Street, Vancouver,
      BC 
	 	  	V6E 4A4 
	 	Telephone No: 	(604) 602-1675 

	5.2 	
      The Subscriber, on its own behalf and on behalf of any
      Disclosed Principal, expressly acknowledges and agrees that:

	 	 	 
		(a) 	
      the Issuer may be required to provide applicable
      securities regulators, or otherwise under the

	 	 	 
			
      Proceeds of Crime (Money Laundering) and Terrorist
      Financing Act of Canada, a list setting forth the identities of the
      purchasers of the Securities and any personal information provided by the
      Subscriber, and the Subscriber hereby represents and warrants that to the
      best of the Subscriber's knowledge, none of the funds representing the
      subscription proceeds to be provided by the Subscriber (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, or any other
      jurisdiction, or (ii) are being tendered on behalf of a person or entity
      who has not been identified to the Subscriber; the Subscriber hereby
      further covenants that it shall promptly notify the Issuer if the
      Subscriber discovers that any of such representations ceases to be true,
      and shall provide the Issuer with appropriate information in connection
      therewith; and

Schedule A
- 4 - 

	 	(b) 	
      it shall complete, sign and return such additional
      documentation as may be required from time to time under Applicable
      Securities Laws or any other applicable laws in connection with the
      Offering and this subscription.

	5.3 	
      Furthermore, the Subscriber and any Disclosed Principal
      is hereby notified and acknowledges that:

	 	 	 
		(a) 	
      the Issuer may deliver to the Ontario Securities
      Commission certain personal information pertaining to the Subscriber,
      including such Subscriber’s full name, residential address, telephone
      number and email address, the number of Securities purchased by the
      Subscriber and the total purchase price paid for such Securities, the
      prospectus exemption relied on by the Issuer and the date of distribution
      of the Securities,

	 	 	 
		(b) 	
      such information is being collected indirectly by the
      Ontario Securities Commission under the authority granted to it in
      securities legislation,

	 	 	 
		(c) 	
      such information is being collected for the purposes of
      the administration and enforcement of the securities legislation of
      Ontario, and

	 	 	 
		(d) 	
      the Subscriber may contact the following public official
      in Ontario with respect to questions about the Ontario Securities
      Commission’s indirect collection of such information at the following
      address and telephone number:

Administrative Assistant to the
Director of Corporate Finance 
Ontario Securities Commission 
Suite 1903,
Box 55, 20 Queen Street West 
Toronto, Ontario, M5H 3S8 
Telephone: (416)
593-8086 

	6. 	
      Selling Agents and
Finders

	6.1 	
      The Issuer will solicit offers to purchase the Securities
      through its directors and officers on a non-brokered basis. In the event
      that a person introduces the Issuer to a Subscriber, the Issuer may pay
      such person a finder's fee payable in cash or shares of the Issuer in
      accordance with applicable laws in respect of any Securities
  sold.

	7. 	
      Resale Restrictions and Legending of
      Securities

	7.1 	
      The Subscriber hereby acknowledges and agrees that the
      Offering is being made pursuant to Exemptions and, as a result, the
      Securities will be subject to a number of statutory restrictions on resale
      and trading. Until these restrictions expire, the Subscriber will not be
      able to sell or trade the Securities unless the Subscriber complies with
      an exemption from the prospectus and registration requirements under
      Applicable Securities Laws. In addition to any statutory hold period
      imposed by Applicable Securities Laws, in general, unless permitted under
      securities legislation, the Subscriber cannot trade the securities in
      Canada before the date that is four months and a day after the Closing
      Date. See also section 7.3 below .

	 	 	 
	7.2 	
      The Subscriber acknowledges and agrees that:

	 	 	 
		(a) 	
      the Securities have not been and will not be registered
      under the United States Securities Act of 1933, as amended (the "1933
      Act"), or any State securities laws, and may not be offered and sold,
      directly or indirectly, in the United States or by or to or for the
      account or benefit of a U.S. Person (as defined in Regulation S
      ("Regulation S") promulgated under the 1933 Act) without registration
      under the 1933 Act and any applicable State securities laws, unless an
      exemption from registration is available;

	 	 	 
		(b) 	
      the Issuer has no present intention and is not obligated
      under any circumstances to register the Securities, or to take any other
      actions to facilitate or permit any proposed resale or transfer thereof in
      the United States or otherwise by or to or for the account or benefit of a
      U.S. Person, and in particular, the Subscriber and the Issuer further
      acknowledge and agree that the Issuer is hereby required to refuse to
      register any transfer of the Securities not made in accordance with the
      provisions of Regulation S, pursuant to registration under the 1933 Act,
      or pursuant to an available exemption from registration;
  and

Schedule A
- 5 - 

	 	(c) 	
      the Warrants may not be exercised in the United States or
      otherwise by or to or for the account or benefit of a U.S. Person without
      registration under the 1933 Act and any applicable State securities laws,
      unless an exemption from registration is available and the holder of such
      Warrant furnishes the Issuer with a legal opinion of counsel satisfactory
      to the Issuer to that effect.

	7.3 	
      The foregoing discussion on hold periods and resale
      restrictions is a general summary only and is not intended to be
      comprehensive or exhaustive, or to apply in all circumstances.
      Subscribers are advised to consult with their own advisors concerning
      their particular circumstances and the particular nature of the
      restrictions on transfer, the extent of the applicable hold period and the
      possibilities of utilizing any further Exemptions or the obtaining of a
      discretionary order to transfer any Securities. Subscribers are further
      advised against attempting to resell or transfer any Securities until they
      have determined that any such resale or transfer is in compliance with the
      requirements of all Applicable Securities Laws, including but not limited
      to compliance with restrictions on certain pre-trade activities and the
      filing with the appropriate regulatory authority of reports required upon
      any resale of the Securities.

	 	 
	7.4 	
      In the event that any of the Securities are subject to a
      hold period or any other restrictions on resale and transferability, the
      Issuer will place a legend on the certificates representing the Securities
      as are required under Applicable Securities Laws, the Exchange or as it
      may otherwise deem necessary or advisable.

	8. 	
      Miscellaneous

	8.1 	
      The Subscriber acknowledges and agrees that all costs and
      expenses incurred by the Subscriber, including any fees and disbursements
      of any special counsel retained by the Subscriber, relating to the
      purchase, resale or transfer of the Securities shall be borne by the
      Subscriber.

	 	 
	8.2 	
      Each party to this subscription covenants that it will,
      from time to time both before and after the Closing, at the request and
      expense of the requesting party, promptly execute and deliver all such
      other notices, certificates, undertakings, escrow agreements and other
      instruments and documents, and shall do all such other acts and other
      things, as may be necessary or desirable for purposes of carry out the
      provisions of this subscription.

	 	 
	8.3 	
      Except as expressly provided for in this subscription and
      in any agreements, instruments and other documents contemplated or
      provided for herein, this subscription contains the entire agreement
      between the parties with respect to the sale of the Units and there are no
      other terms, conditions, representations, warranties, acknowledgments and
      agreements, whether expressed or implied, whether written or oral, and
      whether made by statute, common law, the parties hereto or anyone else.
      This subscription may only be amended by instrument in writing signed by
      the parties hereto.

	 	 
	8.4 	
      The invalidity or unenforceability of any particular
      provision of this subscription shall not affect or limit the validity or
      enforceability of the remaining provisions of this subscription.

	 	 
	8.5 	
      This subscription, including without limitation the
      terms, conditions, representations, warranties, acknowledgments and
      agreements contained herein, shall survive and continue in full force and
      effect and be binding upon the Subscriber and the Issuer notwithstanding
      the completion of the purchase and sale of the Securities, the conversion
      or exercise thereof and any subsequent disposition thereof by the
      Subscriber.

	 	 
	8.6 	
      This subscription is not transferable or assignable. This
      subscription shall enure to the benefit of and be binding upon the parties
      hereto and its respective successors and permitted assigns.

	 	 
	8.7 	
      This subscription is governed by the laws of the Province
      of British Columbia and the federal laws of Canada applicable therein. The
      Subscriber, in his personal or corporate capacity, irrevocably attorns to
      the jurisdiction of the courts of the Province of British
  Columbia.

	 	 
	8.8 	
      Time shall be of the essence
hereof.

Schedule A
- 6 - 

	8.9 	
      This subscription may be executed in as many counterparts
      as may be necessary and delivered by facsimile, and such counterparts and
      facsimiles shall be deemed to constitute one and the same original
      instrument. Without limiting the foregoing, the Issuer may rely on
      facsimile delivery of this subscription, and acceptance of such facsimile
      shall be effective to create a valid and binding agreement between the
      Subscriber and the Issuer.

SCHEDULE B 

	1. 	
      Representations, Warranties, Acknowledgments and
      Agreements of the Subscriber

	 	 	 
	1.1 	
      The Subscriber, on its own behalf and on behalf of any
      Disclosed Principal, hereby represents, warrants, certifies, acknowledges
      and agrees for the benefit of the Issuer and its respective counsel
      that:

	 	 	 
		(a) 	
      the Subscriber and any Disclosed Principal is resident in
      the jurisdiction set out on page 2 of the Subscription;

	 	 	 
		(b) 	
      no securities commission or similar regulatory authority
      has reviewed or passed on the merits of the Securities, and in particular
      no governmental agency or authority, stock exchange or other regulatory
      body or any other entity has made any finding or determination as to the
      merit for investment of, nor have any such agencies, authorities,
      exchanges, bodies or other entities made any recommendation or endorsement
      with respect to, the Securities;

	 	 	 
		(c) 	
      there is no government or other insurance covering the
      Securities;

	 	 	 
		(d) 	
      there are risks associated with the purchase of the
      Securities, being speculative investments which involve a substantial
      degree of risk;

	 	 	 
		(e) 	
      there are restrictions on the Subscriber's ability to
      resell the Securities and it is the responsibility of the Subscriber to
      find out what those restrictions are and to comply with them before
      selling the Securities;

	 	 	 
		(f) 	
      the Issuer has advised the Subscriber that it is relying
      on one or more exemptions from the requirements to provide the Subscriber
      with a prospectus and to sell securities through a person registered to
      sell securities under the Applicable Securities Laws, and as a consequence
      of acquiring the Securities pursuant to such exemption, certain
      protections, rights and remedies provided in applicable securities
      legislation, including statutory rights of rescission or damages, may not
      be available to it;

	 	 	 
		(g) 	
      the Subscriber has been further advised that due to the
      fact that no prospectus has been or is required to be filed with respect
      to any of the Securities under Applicable Securities Laws (i) the
      Subscriber may not receive information that might otherwise be required to
      be provided to it under such legislation, (ii) the Issuer is relieved from
      certain obligations that would otherwise apply under applicable
      legislation, and (iii) the Subscriber is restricted from using certain of
      the civil remedies available under such legislation;

	 	 	 
		(h) 	
      the Subscriber has had access to all information
      regarding the Issuer and the Securities that the Subscriber has considered
      necessary in connection with its investment decision, and, in particular,
      the Subscriber's decision to execute this subscription and purchase Units
      has been based entirely upon its review of the Public Record, including
      the Issuer's financial statements, and has not been based upon any written
      or oral representation or warranty as to fact or otherwise made by or on
      behalf of the Issuer;

	 	 	 
		(i) 	
      no person has made to the Subscriber any written or oral
      representations (i) that any person will resell or repurchase the
      Securities, (ii) that any person will refund the purchase price for the
      Securities, (iii) as to the future price or value of the Securities, or
      (iv) that the Securities will be listed and posted for trading or any
      stock exchange or that application has been made to list the common shares
      of the Issuer on any stock exchange;

	 	 	 
		(j) 	
      the Subscriber is capable by reason of knowledge and
      experience in financial and business matters in general, and investments
      in particular, of assessing and evaluating the merits and risks of an
      investment in the Securities, and is and will be able to bear the economic
      loss of its entire investment in any of the Securities and can otherwise
      be reasonably assumed to have the capacity to protect its own interest in
      connection with the investment;

	 	 	 
		(k) 	
      the Subscriber has been advised to consult its own
      investment, legal and tax advisors with respect to the merits and risks of
      an investment in the Securities and Applicable Securities Laws and resale
      restrictions, and in all cases the Subscriber has not relied upon the
      Issuer or its respective counsel or advisors for investment, legal or tax
      advice, always having, if desired, in all cases sought the advice of the
      Subscriber's own personal investment advisor, legal counsel and tax
      advisors, and in particular, the Subscriber has been advised and
      understands that it is solely responsible, and neither the Issuer nor its
      respective counsel or advisors are in any way responsible, for the
      Subscriber's compliance with Applicable Securities Laws and resale
      restrictions regarding the holding and disposition of the
    Securities;

Schedule B
- 2 - 

	 	(l) 	
      to the knowledge of the Subscriber, the Offering was not
      advertised or solicited in any manner in contravention of Applicable
      Securities Laws, and has not been made through or as a result of any
      general solicitation or general advertising or any seminar or meeting
      whose attendees have been invited by general solicitation or general
      advertising;

	 	 	 	 
	 	(m) 	
      the Subscriber has no knowledge of a "material fact" or
      "material change", as those terms are defined in the Applicable Securities
      Laws applicable in its jurisdiction of residence, in respect of the
      affairs of the Issuer that has not been generally disclosed to the
      public;

	 	 	 	 
	 	(n) 	
      the Subscriber is not a "control person" as defined in
      the policies of the Exchange, will not become a "control person" by virtue
      of purchasing the Units as contemplated herein, and does not intend to act
      in concert with any other person to form a control group of the
    Issuer;

	 	 	 	 
	 	(o) 	
      the Subscriber is not an investment club;

	 	 	 	 
	 	(p) 	
      the Subscriber has the legal capacity and competence to
      enter into and execute this subscription and to take all actions required
      pursuant hereto, and if the Subscriber is not an individual, it is also
      duly formed and validly subsisting under the laws of its jurisdiction of
      formation and all necessary approvals by its directors, shareholders,
      partners and others have been obtained to authorize the entering into and
      execution of this subscription and the taking of all actions required
      hereto on behalf of the Subscriber;

	 	 	 	 
	 	(q) 	
      the Subscriber has duly and validly entered into,
      executed and delivered this subscription and it constitutes a legal, valid
      and binding obligation of the Subscriber enforceable against it in
      accordance with its terms subject to applicable bankruptcy, insolvency,
      reorganization, moratorium and other laws of general application affecting
      the enforcement of creditors' rights generally and as limited by laws
      relating to the availability of equitable remedies;

	 	 	 	 
	 	(r) 	
      the entering into of this subscription and the
      transactions contemplated hereby does not and will not, conflict with,
      result in a violation or breach of, or constitute a default under, any of
      the terms and provisions of any law, regulation, order or ruling
      applicable to the Subscriber or any Disclosed Principal, or of any
      agreement, contract or indenture, written or oral, to which it or any
      Disclosed Principal is or may be a party or by which it or any Disclosed
      Principal is or may be bound, and, if the Subscriber or any Disclosed
      Principal is a corporation, its constating documents or any resolutions of
      its or the Disclosed Principal’s directors or shareholders;

	 	 	 	 
	 	(s) 	
      with respect to compliance with the 1933 Act:

	 	 	 	 
	 		(i) 	
      none of the Securities have been registered under the
      1933 Act, or under any state securities or "blue sky" laws of any state of
      the United States, and, unless so registered, may not be offered or sold
      except pursuant to an effective registration statement under the 1933 Act
      or pursuant to an exemption from, or in a transaction not subject to, the
      registration requirements of the 1933 Act;

	 	 	 	 
	 		(ii) 	
      the Subscriber acknowledges that the Issuer has not
      undertaken, and will have no obligation, to register any of the Shares
      under the 1933 Act;

	 	 	 	 
	 		(iii) 	
      the Subscriber is neither an underwriter of, or dealer
      in, the common shares of the Issuer, nor participating, pursuant to a
      contractual agreement or otherwise, in the distribution of the
      Securities;

Schedule B
- 3 - 

	 	(iv) 	
      the Subscriber is acquiring the Securities for investment
      only and not with a view to resale or distribution and, in particular, has
      no intention to distribute, directly or indirectly, all or any of the
      Securities in the United States or to U.S. Persons or to persons in the
      United States, and the Subscriber does not have any agreement or
      understanding (either written or oral) with any U.S. Person or person in
      the United States respecting (A) the transfer or assignment of any rights
      or interests in any of the Securities; (B) the division of profits,
      losses, fees, commissions, or any financial stake in connection with this
      subscription or the Securities; or (C) the voting of any securities
      offered hereby or underlying any securities offered hereby;

	 	 	 
	 	(v) 	
      the Subscriber does not intend to and will not engage in
      hedging transactions with regard to the Securities unless in compliance
      with the 1933 Act;

	 	 	 
	 	(vi) 	
      no documents in connection with the sale of the
      Securities hereunder have been reviewed by the Securities and Exchange
      Commission or any state securities administrators

	 	 	 
	 	(vii) 	
      any person who acquires Securities may at the Issuer's
      discretion be required to provide the Issuer with written certification
      that it is not a U.S. Person or person in the United States and that the
      Securities are not being acquired, directly or indirectly, for the account
      or benefit of a U.S. Person or person in the United States; and

	 	 	 
	 	(viii) 	
      the current structure of this transaction and all
      transactions and activities contemplated hereunder, and the Subscriber's
      participation therein, is not a scheme to avoid the registration
      requirements of the 1933 Act;

	 	(t) 	
      unless the Subscriber has completed Form 3 – Certificate
      of U.S. Accredited Investor Status, attached hereto:

	 	 	 	 
	 		(i) 	
      the Subscriber is not a U.S. Person or person in the
      United States and is not acquiring the Securities, directly or indirectly,
      for the account or the benefit of a U.S. Person or person in the United
      States; and

	 	 	 	 
	 		(ii) 	
      no offers to sell the Units were made by any person to
      the Subscriber while the Subscriber was in the United States and the
      Subscriber was outside the United States at the time of execution and
      delivery of this subscription; and

	 	 	 	 
	 	(u) 	
      if the Subscriber has completed Form 3 – Certificate of
      U.S. Accredited Investor Status, attached hereto:

	 	 	 	 
	 		(i) 	
      the Subscriber, by completing Form 3 – Certificate of
      U.S. Accredited Investor Status, is representing and warranting to the
      Issuer that the Subscriber is an "accredited investor" as the term is
      defined in Regulation D under the 1933 Act, and that all information
      contained in the Subscriber's completed Form 3 is complete and accurate
      and may be relied upon by the Issuer;

	 	 	 	 
	 		(ii) 	
      the Subscriber will not acquire the Securities as a
      result of, and will not itself engage in, any activities undertaken for
      the purpose of, or that could reasonably be expected to have the effect
      of, conditioning the market in the United States for the resale of any of
      the Securities; provided, however, that the Subscriber may sell or
      otherwise dispose of any of the Securities pursuant to registration
      thereof under the 1933 Act and any applicable state securities laws or
      under an exemption from such registration requirements;

	 	 	 	 
	 		(iii) 	
      the Subscriber and the Subscriber's advisor(s) have had a
      reasonable opportunity to ask questions of and receive answers from the
      Issuer in connection with the distribution of the Securities hereunder,
      and to obtain additional information, to the extent possessed or
      obtainable without unreasonable effort or expense, necessary to verify the
      accuracy of the information about the Issuer;

Schedule B
- 4 - 

	 	(iv) 	
      the books and records of the Issuer were available upon
      reasonable notice for inspection, subject to certain confidentiality
      restrictions, by the Subscriber during reasonable business hours at its
      principal place of business, and all documents, records and books in
      connection with the distribution of the Securities hereunder have been
      made available for inspection by the Subscriber, the Subscriber’s lawyer
      and/or advisor(s);

	 	 	 
	 	(v) 	
      the Subscriber hereby acknowledges that upon the issuance
      thereof, and until such time as the same is no longer required under the
      applicable securities laws and regulations, the certificates representing
      any of the Securities will bear a legend in substantially the following
      form:

THESE SECURITIES HAVE NOT BEEN REGISTERED WITH THE SECURITIES
AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE AND HAVE BEEN
ISSUED IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE “1933 ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR
SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT
OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO,
THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN ACCORDANCE WITH APPLICABLE
STATE SECURITIES LAWS. 

	 	(vi) 	
      the Company will refuse to register any transfer of the
      Securities not made pursuant to an effective registration statement under
      the 1933 Act or pursuant to an available exemption from the registration
      requirements of the 1933 Act; and

	 	 	 
	 	(vii) 	
      the statutory and regulatory basis for the exemption
      claimed for the offer of the Securities would not be available if the
      offering is part of a plan or scheme to evade the registration provisions
      of the 1933 Act.

	1.2 	
      The Subscriber hereby represents, warrants, acknowledges
      and agrees for the benefit of the Issuer that it is:

	 	 	 
		(a) 	
      purchasing the Units as principal for investment purposes
      only, for its own account and not for the benefit of any other person and
      not with a view to, or for resale in connection with, any distribution
      thereof in violation of any Applicable Securities Laws; or

	 	 	 
		(b) 	
      deemed to be purchasing as principal pursuant to NI45-106
      by virtue of the Subscriber being an "accredited investor" as such term is
      defined in paragraphs (p) or (q) of the definition of "accredited
      investor" in NI45-106 (reproduced in Form 1 attached hereto) and provided,
      however, that the Subscriber is not a trust company or trust corporation
      registered under the laws of Prince Edward Island that is not registered
      or authorized under theTrust and Loan Companies Act (Canada) or
      under comparable legislation in another jurisdiction in Canada, and that
      the Subscriber has concurrently executed and delivered Form 1 and under
      the heading of Category 1: Accredited Investor therein checked off
      paragraphs (p) or (q); or

	 	 	 
		(c) 	
      acting as agent for a Disclosed Principal (whose name and
      residential address are disclosed on page 2 of this Agreement) who is
      purchasing the Units as principal for investment purposes only, that the
      Subscriber is duly authorized and empowered to enter into this
      subscription, make all requisite representations, warranties,
      certifications, acknowledgments and agreements and execute all
      documentation in connection therewith on behalf of the Disclosed
      Principal, and that the Subscriber has concurrently completed, executed
      and delivered Form 1 and Forms 2 and 3, as applicable, on behalf of such
      Disclosed Principal in compliance with this Agreement.

	 	 	 
	1.3 	
      The Subscriber, on its own behalf and on behalf of any
      Disclosed Principal, hereby represents, warrants, acknowledges and agrees
      for the benefit of the Issuer and its respective counsel
  that:

	 	(a) 	
      in respect of all Subscribers, and any Disclosed
      Principals for which the Subscriber is acting, it
is:

Schedule B
- 5 - 

	 	(i) 	
      a person described in section 2.3 of NI45-106 by virtue
      of being an "accredited investor" as defined in NI45-106, and provided
      that it is not a person that is or has been created or used solely to
      purchase or hold securities as an "accredited investor" as described in
      paragraph (m) of the definition of "accredited investor" in
    NI45-106;

	 	 	 
	 	(ii) 	
      a person described in section 2.5 of NI45-106 by virtue
      of being (A) a director, executive officer or control person of the Issuer
      or of an affiliate of the Issuer; (B) a spouse, parent, grandparent,
      brother, sister or child of a director, executive officer or control
      person of the Issuer or an affiliate of the Issuer; (C) a parent,
      grandparent, brother, sister or child of the spouse of a director,
      executive officer or control person of the Issuer or of an affiliate of
      the Issuer; (D) a close personal friend or close business associate of a
      director, executive officer or control person of the Issuer or of an
      affiliate of the Issuer; (E) a founder of the Issuer or a spouse, parent,
      grandparent, brother, sister, child, close personal friend or close
      business associate of a founder of the Issuer; (F) a parent, grandparent,
      brother, sister or child of a spouse of a founder of the Issuer; (G) a
      person of which a majority of the voting securities are beneficially owned
      by, or a majority of the directors are, persons described in paragraphs
      1.3(a)(ii)(A) to 1.3(a)(ii)(F); or (H) a trust or estate of which all of
      the beneficiaries or a majority of the trustees are persons described in
      paragraphs 1.3(a)(ii)(A) to 1.3(a)(ii)(F);

	 	 	 
	 	(iii) 	
      a person described in section 2.10 of NI45-106 by virtue
      of the Units having an acquisition cost to the purchaser of not less than
      $150,000 paid in cash, and provided that it is not a person that is or has
      been created or used solely to purchase or hold securities in reliance on
      the exemption provided by section 2.10 of NI45-106, and further provided
      that if it is resident in or otherwise subject to the securities laws of
      Alberta, no document purporting to describe the business and affairs of
      the Issuer, which has been prepared for review by prospective purchasers
      to assist such prospective purchasers in making an investment decision in
      respect of the Units, has been delivered to or summarized for or seen by
      or requested by the Subscriber in connection with the Offering;
  or

	 	 	 
	 	(iv) 	
      a person described in section 2.24 of NI45-106 by virtue
      of being an employee, "executive officer", "director" or "consultant" of
      the Issuer or of a "related entity" of the Issuer or by virtue of being a
      "permitted assign" of the foregoing persons, as those terms are defined in
      sections 1.1 or 2.22 of NI45-106, and its participation in the Offering is
      voluntary,

	 	 	 
	 		
      and the Subscriber has certified same by marking the
      applicable boxes and signing and returning Form 1 herein;
      and

	 	(b) 	
      in respect of all Subscribers, and any Disclosed
      Principals for which the Subscriber is acting, who are resident in or
      otherwise subject to the securities laws of Ontario , it is:

	 	 	 	 
	 		(i) 	
      a person described in subsection 1.3(a)(i), (iii) or (iv)
      of this Schedule B; or

	 	 	 	 
	 		(ii) 	
      a person described in section 2.7 of NI45-106 by virtue
      of being (A) a founder of the Issuer; (B) an affiliate of a founder of the
      Issuer; (C) a spouse, parent, brother, sister, grandparent or child of an
      executive officer, director or founder of the Issuer; or (D) a person that
      is a control person of the Issuer,

	 	 	 	 
	 		
      and the Subscriber has certified same by marking the
      applicable boxes and signing and returning Form 1 herein;
      and

	 	 	 	 
	 	(c) 	
      in respect of all Subscribers, and any Disclosed
      Principals for which the Subscriber is acting, who are resident outside of
      Canada or the United States :

	 	 	 	 
	 		(i) 	
      it is knowledgeable of, or has been independently advised
      as to, the applicable securities laws of the securities regulatory
      authorities (the "Authorities") having application to the Offering and the
      Issuer in the jurisdiction (the "International Jurisdiction") in which the
      Subscriber is resident;

Schedule B
- 6 - 

	 	(ii) 	
      it is purchasing Securities pursuant to an applicable
      exemption from any prospectus, registration or similar requirements under
      the applicable securities laws of the International Jurisdiction, or the
      Subscriber is permitted to purchase the Securities under the applicable
      securities laws of the International Jurisdiction without the need to rely
      on such exemptions;

	 	 	 	 
	 	(iii) 	
      the applicable securities laws of the International
      Jurisdiction do not require the Issuer to make any filings or seek any
      approvals of any nature whatsoever with or from any of the Authorities in
      connection with the Offering or the Securities, including any resale
      thereof;

	 	 	 	 
	 	(iv) 	
      the Offering and the completion of the offer and sale of
      the Securities to the Subscriber as contemplated herein complies in all
      respects with the applicable securities laws of the International
      Jurisdiction, and does not trigger:

	 	 	 	 
	 		(A) 	
      any obligation to prepare and file a prospectus or
      similar or other offering document, or any other report with respect to
      such purchase in the International Jurisdiction; or

	 	 	 	 
	 		(B) 	
      any continuous disclosure reporting obligation of the
      Issuer in the International Jurisdiction; and

	 	 	 	 
	 	(v) 	
      it will, if requested by the Issuer, deliver to the
      Issuer a certificate or opinion of local counsel from the International
      Jurisdiction which will confirm the matters referred to in subparagraphs
      (ii), (iii) and (iv) above to the satisfaction of the Issuer, acting
      reasonably.

	2. 	
      Reliance, Notification, Indemnity and
      Survival

	2.1 	
      The Subscriber acknowledges and agrees that the Issuer
      and its respective counsel will and can rely on the representations,
      warranties, certifications, acknowledgments and agreements of the
      Subscriber contained in this subscription and otherwise provided by the
      Subscriber to and with the Issuer to determine the availability of
      Exemptions should this subscription be accepted, and otherwise in
      completing the offering, issue and sale of the Securities to the
      Subscriber in accordance with applicable laws.

	 	 
	2.2 	
      The Subscriber undertakes to notify the Issuer
      immediately of any change in any representation, warranty or other
      information pertaining to the Subscriber herein or otherwise provided in
      connection with this subscription which takes place prior to
    Closing.

	 	 
	2.3 	
      The Subscriber hereby agrees to indemnify and hold
      harmless the Issuer against all actions, claims, damages, costs, expenses,
      losses and liabilities which it may suffer or incur as a result of this
      subscription.

	 	 
	2.4 	
      The representations, warranties, acknowledgements and
      agreements made by the Subscriber in this subscription and otherwise
      provided by the Subscriber and the Issuer shall be true and correct as of
      the date of execution of this subscription and as of Closing as if
      repeated thereat, and shall survive the
Closing.

Each Subscriber is required to complete and execute this
Certificate. If the Subscriber is purchasing as agent for a Disclosed Principal
it must complete and provide as a separate attachment a copy of this Certificate
on behalf of such Disclosed Principal. All subscribers, other than residents of
Ontario, must qualify under at least one of categories 1 to 4. All subscribers
resident in Ontario must qualify under at least one of categories 1, 3, 4 or
6. 

FORM 1 

CERTIFICATE FOR EXEMPTION 

In addition to the representations, warranties acknowledgments
and agreements contained in the subscription to which this Form 1 – Certificate
for Exemption is attached, the Subscriber, for itself or on behalf of any
Disclosed Principal, as applicable, hereby represents, warrants and certifies to
the Issuer that the Subscriber or the Disclosed Principal, as applicable, is
purchasing the securities set out in the subscription as principal, that it is
resident in the jurisdiction set out on the Acceptance Page of the subscription
and: [check all appropriate boxes] 

Category 1: Accredited Investor 

The Subscriber or the Disclosed Principal, as applicable, is:

	[   ] 	(a) 	
      a Canadian financial institution, or a Schedule III bank;
      

	[   ] 	(b) 	
      the Business Development Bank of Canada incorporated
      under the Business Development Bank of Canada Act ;
  

	[   ] 	(c) 	
      a subsidiary of any person referred to in paragraphs (a)
      or (b), if the person owns all of the voting securities of the subsidiary,
      except the voting securities required by law to be owned by directors of
      that subsidiary; 

	[   ] 	(d) 	
      a person registered under the securities legislation of a
      jurisdiction of Canada, as an adviser or dealer, other than a person
      registered solely as a limited market dealer under one or both of the
      Securities Act (Ontario), or theSecurities Act
      (Newfoundland and Labrador); 

	[   ] 	(e) 	
      an individual registered or formerly registered under the
      securities legislation of a jurisdiction of Canada as a representative of
      a person referred to in paragraph (d); 

	[   ] 	(f) 	
      the Government of Canada or a jurisdiction of Canada, or
      any crown corporation, agency or wholly owned entity of the Government of
      Canada or a jurisdiction of Canada; 

	[   ] 	(g) 	
      a municipality, public board or commission in Canada and
      a metropolitan community, school board, the Comité de gestion de la taxe
      scolaire de l'île de Montréal or an intermunicipal management board in
      Québec; 

	[   ] 	(h) 	
      any national, federal, state, provincial, territorial or
      municipal government of or in any foreign jurisdiction, or any agency of
      that government; 

	[   ] 	(i) 	
      a pension fund that is regulated by either the Office of
      the Superintendent of Financial Institutions (Canada) or a pension
      commission or similar regulatory authority of a jurisdiction of Canada;
      

	[   ] 	(j) 	
      an individual who, either alone or with a spouse,
      beneficially owns, directly or indirectly, financial assets having an
      aggregate realizable value that before taxes, but net of any related
      liabilities, exceeds Cdn$1,000,000; 

	[   ] 	(k) 	
      an individual whose net income before taxes exceeded
      Cdn$200,000 in each of the two most recent calendar years or whose net
      income before taxes combined with that of a spouse exceeded Cdn$300,000 in
      each of the two most recent calendar years and who, in either case,
      reasonably expects to exceed that net income level in the current calendar
      year; 

	[   ] 	(l) 	
      an individual who, either alone or with a spouse, has net
      assets of at least Cdn$5,000,000; 

	[   ] 	(m) 	
      a person, other than an individual or investment fund,
      that has net assets of at least Cdn$5,000,000 as shown on its most
      recently prepared financial statements; 

	 	Form 1 	Exemption 
	 	 	Certificate 
	 	- 2 - 	 

[   ]       
(n)       an investment fund that distributes or
has distributed its securities only to: 

	 	(i) 	
      a person that is or was an accredited investor at the
      time of the distribution;

	 	(ii) 	
      a person that acquires or acquired securities in the
      circumstances referred to in sections 2.10 and 2.19 of NI 45-106,
  or

	 	(iii) 	
      a person described in paragraph (i) or (ii) that acquires
      or acquired securities under section 2.18 of NI
45-106;

	[   ] 	(o) 	
      an investment fund that distributes or has distributed
      securities under a prospectus in a jurisdiction of Canada for which the
      regulator or, in Quebec, the securities regulatory authority, has issued a
      receipt; 

	[   ] 	(p) 	
      a trust company or trust corporation registered or
      authorized to carry on business under the Trust and Loan
      Companies Act (Canada) or under comparable legislation in a
      jurisdiction of Canada or a foreign jurisdiction, acting on behalf of a
      fully managed account managed by the trust company or trust corporation,
      as the case may be; 

	[   ] 	(q) 	
      a person acting on behalf of a fully managed account
      managed by that person, if that person: 

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

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

	[   ] 	(r) 	
      a registered charity under the Income Tax Act
      (Canada) that, in regard to the trade, has obtained advice from an
      eligibility adviser or an adviser registered under the securities
      legislation of the jurisdiction of the registered charity to give advice
      on the securities being traded; 

	[   ] 	(s) 	
      an entity organized in a foreign jurisdiction that is
      analogous to any of the entities referred to in paragraphs (a) to (d) or
      paragraph (i) in form and function; 

	[   ] 	(t) 	
      a person in respect of which all of the owner of
      interests, direct, indirect or beneficial, except the voting securities
      required by law to be owned by directors, are persons that are accredited
      investors; 

	[   ] 	(u) 	
      an investment fund that is advised by a person registered
      as an adviser or a person that is exempt from registration as an adviser,
      or 

	[   ] 	(v) 	
      a person that is recognized or designated by the
      securities regulatory authority or, except in Ontario and Quebec, the
      regulator as: 

	 	(i) 	
      an accredited investor; or

	 	(ii) 	
      an exempt purchaser in Alberta or British Columbia after
      NI 45-106 comes into force.

Definitions: 

" Canadian financial institution " means 

	 	(a) 	
      an association governed by the Cooperative Credit
      Associations Act (Canada) or a central cooperative credit society for
      which an order has been made under section 473(1) of that Act,
or

	 	(b) 	
      a bank, loan corporation, trust company, trust
      corporation, insurance company, treasury branch, credit union, caisse
      populaire, financial services cooperative, or league that, in each case,
      is authorized by an enactment of Canada or a jurisdiction of Canada to
      carry on business in Canada or a jurisdiction of
Canada;

" EVCC " means an employee venture capital corporation
that does not have a restricted constitution, and is registered under Part 2 of
the Employee Investment Act (British Columbia), R.S.B.C. 1996 c. 112, and
whose business objective is making multiple investments; 

" financial assets " means 

	 	(a) 	
      cash,

	 	Form 1 	Exemption 
	 	 	Certificate 
	 	-3 - 	 

	 	(b) 	
      securities, or

	 	(c) 	
      a contract of insurance, a deposit or an evidence of a
      deposit that is not a security for the purposes of securities
      legislation;

" fully managed account " means an account of a client
for which a person makes the investment decisions if that person has full
discretion to trade in securities for the account without requiring the client's
express consent to a transaction; " investment fund " means a mutual fund
or a non-redeemable investment fund, and, for greater certainty in British
Columbia, includes an EVCC and a VCC; " person " includes 

	 	(a) 	
      an individual,

	 	(b) 	
      a corporation,

	 	(c) 	
      a partnership, trust, fund and an association, syndicate,
      organization or other organized group of persons, whether incorporated or
      not, and

	 	(d) 	
      an individual or other person in that person's capacity
      as a trustee, executor, administrator or personal or other legal
      representative;

" related liabilities " means 

	 	(a) 	
      liabilities incurred or assumed for the purpose of
      financing the acquisition or ownership of financial assets, or

	 	(b) 	
      liabilities that are secured by financial
  assets;

" Schedule III bank " means an authorized foreign bank
named in Schedule III of the Bank Act (Canada); 

" spouse " means, an individual who, 

	 	(a) 	
      is married to another individual and is not living
      separate and apart within the meaning of the Divorce Act (Canada),
      from the other individual, or

	 	(b) 	
      is living with another individual in a marriage-like
      relationship, including a marriage-like relationship between individuals
      of the same gender; or

	 	(c) 	
      in Alberta, is an individual referred to in paragraph (a)
      or (b), or is an adult interdependent partner within the meaning of the
      Adult Interdependent Relationships Act
(Alberta);

" subsidiary " means in issuer that is controlled
directly or indirectly by another issuer and includes a subsidiary of that
subsidiary; 

" VCC " means a venture capital corporation registered
under Part 1 of the Small Business Venture Capital Act (British Columbia),
R.S.B.C. 1996 c. 429, whose business objective is making multiple investments.

Category 2: Family, Friends and Business Associates
(not available for Ontario residents) 

The Subscriber or the Disclosed Principal, as applicable, is
not a resident of or otherwise subject to the securities laws of Ontario, and is
[check appropriate box and complete related blanks] 

	[   ] 	(a) 	
      a director, executive officer or control person of the
      Issuer or of an affiliate of the Issuer; 

	[   ] 	(b) 	
      a spouse, parent, grandparent, brother, sister or child
      of a director, executive officer or control person of the Issuer or an
      affiliate of the Issuer; 

	[   ] 	(c) 	
      a parent, grandparent, brother, sister or child of the
      spouse of a director, executive officer or control person of the Issuer or
      of an affiliate of the Issuer; 

	[   ] 	(d) 	
      a close personal friend* of a director, executive officer
      or control person of the Issuer or of an affiliate of the Issuer;
  

	 	Form 1 	Exemption 
	 	 	Certificate 
	 	- 4 - 	 

	[   ] 	(e) 	
      a close business associate** of a director, executive
      officer or control person of the Issuer or of an affiliate of the Issuer;
      

	[   ] 	(f) 	
      a founder of the Issuer or a spouse, parent, grandparent,
      brother, sister, child, close personal friend or close business associate
      of a founder of the Issuer; or 

	[   ] 	(g) 	
      a parent, grandparent, brother, sister or child of a
      spouse of a founder of the Issuer, 

of which the relevant director, executive officer, control
person or founder of the Issuer or affiliate of the Issuer is: 

______________________________________________________________________;
OR 

	[   ] 	(h) 	
      a person of which a majority of the voting
      securities are beneficially owned by persons described in paragraphs (a)
      to (g); 

	[   ] 	(i) 	
      a person of which a majority of the directors are
      persons described in paragraphs (a) to (g); 

	[   ] 	(j) 	
      a trust or estate of which all of the
      beneficiaries are persons described in paragraphs (a) to (g); or

	[   ] 	(k) 	
      a trust or estate of which a majority of the
      trustees or executors are persons described in paragraphs (a) to (g).
    

Notes: 

	* 	
      "close personal friend" means an individual who has known
      the named director, executive officer, control person or founder well
      enough and for a sufficient period of time to be in a position to assess
      the capabilities and trustworthiness of that person. The term "close
      personal friend" can include a family member who is not already
      specifically identified in paragraphs (b), (c), (f) or (g) if the family
      member otherwise meets the criteria described above. An individual’s
      relationship with the named director, executive officer, control person or
      founder must be direct. An individual is not a "close personal friend"
      solely because that individual is a relative, a client, customer, former
      client or former customer of, or is a member of the same organization,
      association or religious group as, the named director, executive officer,
      control person or founder.

	 	 
	** 	
      "close business associate" means an individual who has
      had sufficient prior business dealings with the named director, executive
      officer, control person or founder to be in a position to assess the
      capabilities and trustworthiness of that person. An individual's
      relationship with the named director, executive officer, control person or
      founder must be direct. An individual is not a “close business associate”
      solely because that individual is a client, customer, former client or
      former customer of, or is a casual business associate of, or is a person
      introduced or solicited for the purpose of purchasing securities by, the
      named director, executive officer, control person or
  founder.

Category 3: $150,000 Purchaser 

[   ] The Subscriber or the Disclosed Principal, as
applicable, has an acquisition cost for the Units of not less than $150,000 paid
in cash, and is not a person that is or has been created or used solely to
purchase or hold securities in reliance on the exemption provided by section 2.5
of NI45-106. 

Category 4: Employees, Officers, Directors and
Consultants 

The Subscriber or the Disclosed Principal, as applicable, is:

	[   ] 	(a) 	an employee of the Issuer or of a
      "related entity" of the Issuer; 
	[   ] 	(b) 	an executive officer of the
      Issuer or of a "related entity" of the Issuer; 
	[   ] 	(c) 	a director of the Issuer or of a
      "related entity" of the Issuer; 
	[   ] 	(d) 	a consultant of the Issuer or of
      a "related entity" of the Issuer; or 

	 	Form 1 	Exemption 
	 	  	Certificate 
	 	- 5 - 	  

	[   ] 	(e) 	a "permitted assign" of a person
      described in paragraphs (a) to (d), 

and its participation in the Offering is voluntary. 

Category 5: Offering Memorandum (not available for
Ontario residents) 

[NOT APPLICABLE] 

Category 6: Founder, Control Person and Family
(only available for Ontario residents) 

The Subscriber or the Disclosed Principal, as applicable, is
resident in or otherwise subject to the securities laws of Ontario, and is: 

	[   ] 	(a) 	a founder of the Issuer; 
	 	 	 
	[   ] 	(b) 	an affiliate of a founder of the
      Issuer; 
	 	 	 
	
      [   ] 
	
      (c) 
	
      a spouse, parent, brother, sister, grandparent or child
      of an executive officer, director or founder of the Issuer, of which the
      relevant executive officer, director or founder is ; or 

	 	 	 
	[   ] 	(d) 	a person that is a control person
      of the Issuer. 

* * * * * * * 

The representations, warranties, statements and certification
made in this Certificate are true and accurate as of the date of this
Certificate and will be true and accurate as of the Closing. If any such
representation, warranty, statement or certification becomes untrue or
inaccurate prior to the Closing, the Subscriber shall give the Issuer immediate
written notice thereof. 

The Subscriber acknowledges and agrees that the Issuer will and
can rely on this Certificate in connection with the Subscriber's Subscription
Agreement. 

EXECUTED by the Subscriber at this_______ day of
_______________, 20____. 

	If a corporation, partnership or other entity: 	 	If an individual: 
	 	 	 
	Print Name of Subscriber/Disclosed Principal 	 	Print Name of Subscriber/Disclosed
      Principal 
	 	 	 
	Signature of Authorized Signatory 	 	Signature 
	 	 	 
	Name and Position of Authorized Signatory 	 	Representative Capacity, if applicable
    
	 	 	 
	Jurisdiction of Residence of Subscriber/Disclosed
      Principal 	 	Jurisdiction of Residence of
      Subscriber/Disclosed Principal 

FORM 2 

CERTIFICATE OF U.S. ACCREDITED INVESTOR STATUS 

In addition to the representations, warranties acknowledgments
and agreements contained in the subscription (the "Subscription Agreement") to
which this Form 3 – Certificate of Accredited Investor Status is attached, the
Subscriber, for itself or on behalf of any Disclosed Principal, as applicable,
hereby represents, warrants and certifies to the Issuer that the Subscriber or
the Disclosed Principal, as applicable, is purchasing the securities set out in
the Subscription Agreement as principal, that it is resident in the jurisdiction
set out on the Subscriber's execution page of the Subscription Agreement, and:

	1. 	
      The Subscriber represents, warrants, acknowledges and
      agrees to and with the Issuer that:

	 	 	 
		(a) 	
      the Subscriber is a U.S. Person;

	 	 	 
		(b) 	
      the Subscriber has such knowledge and experience in
      financial and business matters as to be capable of evaluating the merits
      and risks of the transactions detailed in the Subscription Agreement and
      it is able to bear the economic risk of loss arising from such
      transactions;

	 	 	 
		(c) 	
      the Subscriber is acquiring the Securities for investment
      only and not with a view to resale or distribution and, in particular, it
      has no intention to distribute either directly or indirectly any of the
      Securities in the United States or to U.S. Persons; provided, however,
      that the Subscriber may sell or otherwise dispose of any of the Securities
      pursuant to registration thereof pursuant to the Securities Act of 1933
      , as amended (the "1933 Act"), and any applicable State securities
      laws or if an exemption from such registration requirements is available
      or registration is otherwise not required under this 1933 Act;

	 	 	 
		(d) 	
      the Subscriber satisfies one or more of the categories
      indicated below ( check appropriate box
):

	 	[   ] 	Category 1: 	
      An organization described in Section 501(c)(3) of the
      United States Internal Revenue Code, a corporation, a Massachusetts or
      similar business trust or partnership, not formed for the specific purpose
      of acquiring the Securities, with total assets in excess of US $5,000,000;
      

	 	  	  	     
	 	[   ] 	Category 2: 	
      A natural person whose individual net worth, or joint net
      worth with that person's spouse, on the date of purchase exceeds US
      $1,000,000; 

	 	  	  	     
	 	[   ] 	Category 3: 	
      A natural person who had an individual income in excess
      of US $200,000 in each of the two most recent years or joint income with
      that person's spouse in excess of US $300,000 in each of those years and
      has a reasonable expectation of reaching the same income level in the
      current year; 

	 	  	  	     
	 	[   ] 	Category 4: 	
      A “bank” as defined under Section (3)(a)(2) of the 1933
      Act or savings and loan association or other institution as defined in
      Section 3(a)(5)(A) of the 1933 Act acting in its individual or fiduciary
      capacity; a broker dealer registered pursuant to Section 15 of the
      Securities Exchange Act of 1934 (United States); an
      insurance company as defined in Section 2(13) of the 1933 Act; an
      investment company registered under the Investment Company Act of
      1940 (United States) or a business development company as defined
      in Section 2(a)(48) of such Act; a Small Business Investment Company
      licensed by the U.S. Small Business Administration under Section 301(c) or
      (d) of the Small Business Investment Act of 1958 (United
      States); a plan with total assets in excess of $5,000,000 established and
      maintained by a state, a political subdivision thereof, or an agency or
      instrumentality of a state or a political subdivision thereof, for the
      benefit of its employees; an employee benefit plan within the meaning of
      the Employee Retirement Income Security Act of 1974 (United States)
      whose investment decisions are made by a plan fiduciary, as defined in
      Section 3(21) of such Act, which is either a bank, savings and loan
      association, insurance company or registered investment adviser, or if the
      employee benefit plan has total assets in excess of $5,000,000, or, if a
      self-directed plan, whose investment decisions are made solely by persons
      that are accredited investors; 

	 	Form 3 	US Accredited 
	 	  	Certificate 
	 	- 2 - 	  

	 	[   ] 	Category 5: 	
      A private business development company as defined in
      Section 202(a)(22) of the Investment Advisers Act of 1940
      (United States); 

	 			
	 	[   ] 	Category 6: 	
      A director or executive officer of the Issuer; 

	 	[   ] 	Category 7 	
      A trust with total assets in excess of $5,000,000, not
      formed for the specific purpose of acquiring the Securities, whose
      purchase is directed by a sophisticated person as described in Rule
      506(b)(2)(ii) under the 1933 Act; or 

	 	 	 	
       

	 			
	 	[   ] 	Category 8 	
      An entity in which all of the equity owners satisfy the
      requirements of one or more of the foregoing categories; and
  

	 	(e) 	
      the Subscriber is not acquiring the Securities 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.

	2. 	
      The Subscriber acknowledges and agrees that:

	 	 
		(a) 	
      if the Subscriber decides to offer, sell or otherwise
      transfer any of the Securities, it will not offer, sell or otherwise
      transfer any of such securities, directly or indirectly, unless:

			(i) 	
      the sale is to the Issuer;

			(ii) 	
      the sale is made pursuant to the exemption from the
      registration requirements under the 1933 Act provided by Rule 144
      thereunder if available and in accordance with any applicable state
      securities or "Blue Sky" laws; or

			(iii) 	
      the Securities are sold in a transaction that does not
      require registration under the 1933 Act or any applicable U.S. state laws
      and regulations governing the offer and sale of securities, and it has
      prior to such sale furnished to the Issuer an opinion of counsel
      reasonably satisfactory to the Issuer;

	 	 	 	 
		(b) 	
      any of the Warrants may not be exercised in the United
      States or by or on behalf of a U.S. Person unless registered under the
      1933 Act and any applicable state securities laws unless an exemption from
      such registration requirements is available;

		(c) 	
      the Subscriber has not acquired the Securities as a
      result of, and will not itself engage in any activities undertaken for the
      purpose of, or that could reasonably be expected to have the effect of,
      conditioning the market in the United States for the resale of any of the
      Securities; provided, however, that the Subscriber may sell or otherwise
      dispose of any of the Securities pursuant to registration of any of the
      Securities pursuant to the 1933 Act and any applicable state securities
      laws or under an exemption from such registration requirements and as
      otherwise provided herein;

		(d) 	
      upon the issuance thereof, and until such time as the
      same is no longer required under the applicable requirements of the 1933
      Act or applicable U.S. State laws and regulations, the certificates
      representing any of the Securities will bear a legend in substantially the
      following form:

	 	Form 3 	US Accredited 
	 	 	Certificate 
	 	- 3 - 	 

  
    
      
        
          THESE SECURITIES HAVE NOT BEEN REGISTERED WITH THE SECURITIES
            AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE AND HAVE BEEN
            ISSUED IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT
            OF 1933, AS AMENDED (THE “1933 ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR
            SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT
            OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO,
            THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN ACCORDANCE WITH APPLICABLE
            STATE SECURITIES LAWS. 

        

      

    

  

	 	(e) 	
      the Issuer may make a notation on its records or instruct
      the registrar and transfer agent of the Issuer in order to implement the
      restrictions on transfer set forth and described herein; and

	 	 	 
	 	(f) 	
      the Subscriber, if an individual, is a resident of the
      state or other jurisdiction disclosed as its address on the Subscriber's
      execution page of the Subscription Agreement, or if the Subscriber is not
      an individual, the office of the Subscriber at which the Subscriber
      received and accepted the offer to acquire the Securities is the address
      listed on the Subscriber's execution page of the Subscription
      Agreement.

* * * * * * * 

The representations, warranties, statements and certification
made in this Certificate are true and accurate as of the date of this
Certificate and will be true and accurate as of the Closing. If any such
representation, warranty, statement or certification becomes untrue or
inaccurate prior to the Closing, the Subscriber shall give the Issuer immediate
written notice thereof. 

The Subscriber acknowledges and agrees that the Issuer will and
can rely on this Certificate in connection with the Subscriber's Subscription
Agreement. 

IN WITNESS, the undersigned has executed this Certificate as of
the ________ day of __________________, 2013. 

	If a Corporation, Partnership or Other Entity: 	 	If an Individual: 
	 	 	 
	Print or Type Entity's Name 	 	Print or Type Individual's Name 
	 	 	 
	Signature of Authorized Signatory 	 	Signature 
	 	 	 
	Name and Title of Authorized Signatory 	 	Social Security/Tax I.D. No. 
	 	 	 
	Type of Entity 	 	  
	 	 	 

FORM 3 

  WIRE INSTRUCTIONS

BANK WIRE INSTRUCTIONS 

TO SEND A WIRE TO YOUR COMPANY’S BANK ACCOUNT, YOU WILL NEED TO
GIVE THE REMITTING BANK THE FOLLOWING INSTRUCTIONS...... 

	BENEFICIARY BANK: 	BANK OF MONTREAL 
	  	595 BURRARD STREET 
	  	  
	  	VANCOUVER, B. C., CANADA 
	  	  
	TRANSIT AND ACCOUNT NO.: 	00044633271 
	SWIFT BIC ADDRESS: 	BOFMCAM2 

TO SEND FUNDS FROM A U.S. BANK, IT MAY BE EASIER TO SEND
THROUGH OUR U.S.SUBSIDIARY – 

	INTERMEDIARY BANK: 	WACHOVIA BANK, NA 
	  	New York 
	  	Fed wire ABA 026005092 
	SWIFT CODE: 	PNBPUS3NNYC 
	PHYSICAL ADDRESS: 	  
	Enertopia Corp 	  
	Suite 950 – 1130 West Pender Street, 	  
	Vancouver, BC V6E 4A4 	  
	Telephone No: 	(604) 602-1675

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