Document:

EX-4.5

 Exhibit 4.5 

CB2 INSIGHTS INC. 
 5045
Orbitor Drive, Building 11, Unit 300 
 Mississauga, Ontario, L4W 4Y4 

MANAGEMENT INFORMATION CIRCULAR 

FOR THE SPECIAL MEETING OF SHAREHOLDERS 

TO BE HELD ON NOVEMBER 23, 2020 

This management information circular (this “Circular”) is being furnished in connection with the solicitation, by management
of CB2 Insights Inc. (the “Corporation”), of proxies for the special meeting (the “Meeting”) of shareholders (the “Shareholders”) of the Corporation to be held virtually through the platform of AGM
Connect (www.agmconnect.com) to facilitate an interactive meeting and live online voting for Registered Shareholders on Monday, November 23, 2020 at 9:00am (Toronto time), and at any adjournment thereof for the purposes set forth in the
enclosed notice of meeting (the “Notice”).     
 Unless otherwise indicated, the information contained
in this Circular is given as at October 7, 2020. 
 Unless otherwise indicated, all references to “dollars” or “$”
means Canadian dollars. 
 SOLICITATION OF PROXIES 

Although, it is expected that management’s solicitation of proxies for the Meeting will be made primarily by mail, proxies may be
solicited by directors, officers and employees of the Corporation personally or by telephone, fax, email or other similar means of communication. This solicitation of proxies for the Meeting is being made by or on behalf of the directors and
management of the Corporation and the Corporation will bear the costs of this solicitation of proxies for the Meeting.  
 In accordance
with National Instrument 54-101 – Communication with Beneficial Owners of Securities of a Reporting Issuer (“NI 54-101”),
arrangements have been made with the transfer agent, investment dealers, intermediaries, custodians, depositories and depository participants and other nominees to forward solicitation materials to the beneficial owners of the common shares (the
“Shares”) of the Corporation. The Corporation will provide, without any cost to such person, upon request to the Chief Executive Officer of the Corporation, additional copies of the foregoing documents for this purpose. 

REGISTERED SHAREHOLDERS VOTING BY PROXY 

Enclosed with this Circular is a form of proxy. The persons named in the enclosed form of proxy are officers and/or directors of the
Corporation. Every Shareholder of the Corporation has the right to appoint a person (who need not be a shareholder of the Corporation) other than the persons already named in the enclosed form of proxy to represent such shareholder of the
Corporation at the virtual Meeting by striking out the printed names of such persons and inserting the name of such other person AND an email address for contact in the blank space provided therein for that purpose. In order to be valid, a proxy
must be received by Capital Transfer Agency Inc., 390 Bay Street, Suite 920, Toronto, Ontario, M5H 2Y2 by 9:00 am on November 19, 2020, or in the event of an adjournment or postponement of the Meeting, no later than forty-eight (48) hours
(excluding Saturdays, Sundays and holidays in Ontario) before the time for holding the adjourned or postponed Meeting. 
 Shareholders may
also elect to vote electronically in respect of any matter to be acted upon at the Meeting. Votes cast electronically are in all respects equivalent to and will be treated in the exact same manner as, votes cast via a paper form of proxy. To vote
electronically, registered shareholders are asked to go to the website shown on the form of proxy and follow the instructions on the screen. Please note that each shareholder exercising the electronic voting option will need to refer to the control
number indicated on their proxy form to identify themselves in the electronic voting system. Shareholders should also refer to the instructions on the proxy form for information regarding the deadline for voting shares electronically. If a
Shareholder votes electronically he or she is asked not to return the paper form of proxy by mail. 

  
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 In order to be effective, a form of proxy must be executed by a shareholder exactly as his
or her name appears on the register of shareholders of the Corporation. Additional execution instructions are set out in the notes to the form of proxy. The proxy must also be dated where indicated. If the date is not completed, the proxy will be
deemed to be dated on the day on which it was mailed to shareholders. 
 ATTENDING THE MEETING 

Registered Shareholders may attend the virtual Meeting and vote their shares at the Meeting by logging in at least 30 minutes prior to
the start of the meeting by following the instructions at: 
 https://agmconnect.com/cb2insights2020 

You will require your AGM Connect Voter ID and Meeting Access Code provided in the accompanying Virtual(AGM) Information Sheet.
Please contact AGM Connect at 1.416.222.4202 or CB22020@agmconnect.com for assistance or for further information. 
 Non-registered (or Beneficial) Shareholders should refer to the instructions on the Voter Instruction Form provided by their intermediary for information on how to vote their shares or appoint a proxy. Details
on how to attend the virtual meeting are included in the accompanying Virtual(AGM) Information Sheet. Please contact AGM Connect via 1.416.222.4202 or CB22020@agmconnect.com for assistance or for further information.  

The online platform is fully supported across browsers and devices running the most updated version of applicable software plugins. Please
ensure that you have a reliable internet connection with which to access and participate in the Meeting. The Meeting will begin promptly at 9:00 a.m. (Toronto time) on November 23, 2020. Online check-in
will open one-hour prior, at 8:00 a.m. (Toronto time). Please allow ample time for online check-in procedures. It is important to ensure you are connected to the
internet at all times if you participate in the Meeting online in order to vote when balloting.  
 The management representatives
designated in the enclosed form of proxy will vote the Shares in respect of which they are appointed proxy in accordance with the instructions of the shareholder as indicated on the proxy and, if the shareholder specifies a choice with respect to
any matter to be acted upon, the Shares will be voted accordingly. In the absence of such direction, such Shares will be voted by the management representatives named in such form of proxy in favour of each of the matters referred to in the
Notice and will be voted by such representatives on all other matters which may come before the Meeting in their discretion. 
 THE
ENCLOSED FORM OF PROXY OR VOTER INSTRUCTION FORM, WHEN PROPERLY SIGNED, CONFERS DISCRETIONARY VOTING AUTHORITY ON THOSE PERSONS DESIGNATED THEREIN WITH RESPECT TO AMENDMENTS OR VARIATIONS TO THE MATTERS IDENTIFIED IN THE NOTICE AND WITH RESPECT TO
OTHER MATTERS WHICH MAY PROPERLY COME BEFORE THE MEETING. 
 At the time of printing of this Circular, management of the Corporation
know of no such amendment, variation or other matters to come before the Meeting other than the matters referred to in the Notice and this Circular. However, if any matters which are not now known to management of the Corporation should properly
come before the Meeting, the Shares represented by proxies in favour of the Management Nominees will be voted on such matters in accordance with the best judgement of the Management Nominee. 

ADVICE TO NON-REGISTERED SHAREHOLDERS 

Only Registered shareholders of the Corporation, or the persons they appoint as their proxies, are entitled to attend and vote at the Meeting.
However, in many cases, Shares beneficially owned by a person (a “Non-Registered Shareholder”) are registered either: 

 

	 	(a)	 in the name of an intermediary (an “Intermediary”) with whom the Non-Registered Shareholder deals in respect of the Shares (Intermediaries include, among others, banks, trust companies, investment 

  
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dealers or brokers, trustees or administrators of a self-administered registered retirement savings plan, registered retirement income fund, registered education savings plan and similar plans);
or 

  

	 	(b)	 in the name of a clearing agency (such as The Canadian Depository for Securities Limited, in Canada, and the
Depositary Trust Company, in the United States) of which the Intermediary is a participant. 

 In accordance with the
requirements of NI 54-101, the Corporation has distributed copies of the Notice, this Circular and its form of proxy (collectively, the “Meeting Materials”) to the Intermediaries and
clearing agencies for onward distribution to Non-Registered Shareholders. Intermediaries are required to forward the Meeting Materials to Non-Registered Shareholders
unless the Non-Registered Shareholders have waived the right to receive them. Intermediaries often use service companies to forward the Meeting Materials to
Non-Registered Shareholders. Generally, Non-Registered Shareholders who have not waived the right to receive Meeting Materials will either: 

 

	 	(a)	 be given a voting instruction form which must be completed and returned by the Non-Registered Shareholder in accordance with the directions printed on the form (in some cases, the completion of the voting instruction form by telephone, facsimile or over the Internet is permitted) or

  

	 	(b)	 be given a form of proxy which has already been signed by the Intermediary (typically by a facsimile,
stamped signature), which is restricted as to the number of Shares beneficially owned by the Non-Registered Shareholder, but which is otherwise not completed by the Intermediary. Because the Intermediary has
already signed the form of proxy, this form of proxy is not required to be signed by the Non-Registered Shareholder when submitting the proxy. In this case, the
Non-Registered Shareholder who wishes to submit a proxy should properly complete the form of proxy and deposit it with Capital Transfer Agency Inc., 390 Bay Street, Suite 920, Toronto, Ontario, M5H 2Y2.

 In either case, the purpose of these procedures is to permit Non-Registered
Shareholders to direct the voting of the Shares they beneficially own. Should a Non-Registered Shareholder who receives either a voting instruction form or a form of proxy wish to attend the Meeting and vote
in person (or have another person attend and vote on behalf of the Non-Registered Shareholder), the Non-Registered Shareholder should strike out the names of the persons
named in the form of proxy and insert the Non-Registered Shareholder’s (or such other person’s) name in the blank space provided or, in the case of a voting instruction form, follow the directions
indicated on the form. If you are a Non-Registered Shareholder, and we or our agent has sent these materials directly to you, your name and address and information about your holdings of securities have been
obtained in accordance with applicable securities regulatory requirements from the Intermediary holding on your behalf. In either case, Non-Registered Shareholders should carefully follow the instructions
of their Intermediaries and their service companies, including those regarding when and where the VIF or the proxy is to be delivered.  

REVOCATION OF PROXIES 
 A registered
shareholder of the Corporation who has submitted a proxy may revoke it by: 
  

	 	(a)	 depositing an instrument in writing signed by the registered shareholder or by an attorney authorized in
writing or, if the registered shareholder is a corporation, by a duly authorized officer or attorney, either: 

  

	 	(i)	 at the office of Capital Transfer, 390 Bay Street, Suite 920, Toronto, Ontario, M5H 2Y2 Corporation, by
9:00am on November 19, 2020 or in the event of an adjournment or postponement of the Meeting, no later than 48 hours (excluding Saturday, Sunday and holidays in Ontario) before the time for holding the adjournment or postponement Meeting; or

  

	 	(ii)	 with the Chairman of the Meeting prior to the commencement of the Meeting on the day of the Meeting;

  

	 	(b)	 transmitting, by telephonic or electronic means, a revocation that complies with (i) or (ii) above and
that is signed by electronic signature provided that the means of electronic signature permit a reliable determination that the document was created or communicated by or on behalf of the registered shareholder or the attorney, as the case may be;
or 

  
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	 	(c)	 in any other manner permitted by law. 

A Non-Registered Shareholder who has submitted voting instructions to an Intermediary should contact
their Intermediary for information with respect to revoking their voting instructions. 
 NOTICE-AND-ACCESS 
 The Corporation is utilizing the notice-and-access mechanism (the “Notice-and-Access Provisions”) that came into effect on
February 11, 2013 under National Instrument 54-101 – Communication with Beneficial Owners of Securities of a Reporting Issuer and National Instrument 51-102
– Continuous Disclosure Obligations, for distribution of Meeting materials to registered and beneficial Shareholders. 
 WEBSITE
WHERE MEETING MATERIALS ARE POSTED 
 The
Notice-and-Access Provisions are a new set of rules that allows reporting issuers to post electronic versions of proxy-related materials (such as proxy circulars and
annual financial statements) on-line, via the System for Electronic Document Analysis and Retrieval (“SEDAR”) and one other website, rather than mailing paper copies of such materials to
Shareholders. Electronic copies of this Circular may be found on the Corporation’s SEDAR profile at www.sedar.com, and at www.agmconnect.com/cb2insights2020. The Corporation will not use procedures known as
“stratification” in relation to the use of Notice-and-Access Provisions. Stratification occurs when a reporting issuer using the
Notice-and-Access Provisions provides a paper copy of the Circular to some Shareholders with this notice package. In relation to the Meeting, all Shareholders will
receive the required documentation under the Notice-and-Access Provisions, which will not include a paper copy of the Circular. 

OBTAINING PAPER COPIES OF MATERIALS 

The Corporation anticipates that using notice-and-access for
delivery to all Shareholders will directly benefit the Corporation through a substantial reduction in both postage and material costs, and also promote environmental responsibility by decreasing the large volume of paper documents generated by
printing proxy-related materials. Shareholders with questions about notice-and-access can call the Corporation’s transfer agent Capital Transfer Agency ULC.
(“Capital Transfer”) toll-free at 1-844-499-4482. Shareholders may also obtain paper copies of the
Circular free of charge by contacting Capital Transfer at the same toll-free number or upon request to the Corporation’s Corporate Secretary. A request for paper copies which are required in advance of the Meeting should be sent so that they
are received by the Corporation or Capital Transfer, as applicable, by November 13, 2020 in order to allow sufficient time for Shareholders to receive the paper copies and to return their proxies or voting instruction forms to intermediaries
not later than 48 hours (excluding Saturdays, Sundays and statutory holidays in the City of Toronto, Ontario) prior to the time set for the Meeting or any adjournments or postponements thereof (the “Proxy Deadline”). 

VOTING 
 All Shareholders
are invited to attend the virtual Meeting and may attend representing themselves or may be represented by proxy. A “beneficial” or “non-registered” Shareholder will not be recognized
directly at the Meeting for the purposes of voting common shares registered in the name of his/her/its broker; however, a beneficial Shareholder may attend the Meeting as proxyholder for the registered Shareholder and vote the common shares in that
capacity. Only Shareholders as of the Record Date are entitled to receive notice of and vote at the Meeting. Shareholders who are unable to attend the Meeting in person, or any adjournments or postponements thereof, are requested to complete, date
and sign the enclosed form of proxy (registered holders) or voting instruction form (beneficial holders) and return it in the envelope provided. To be effective, the enclosed form of proxy or voting instruction form must be mailed or faxed so as to
reach or be deposited with Capital Transfer (in the case of registered holders) (i) by mail to Capital Transfer Agency at 390 Bay Street, Suite 920, Toronto, Ontario, M5H 2Y2; (ii) by facsimile at 416-350-5008; (iii) by email to info@capitaltransferagency.com ; or (iv) by internet at www.capitaltransferagency.com prior to the Proxy Deadline, failing which such votes may not be

  
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counted, or your intermediary (in the case of beneficial holders) with sufficient time for them to file a proxy by the Proxy Deadline. 

SHAREHOLDERS ARE REMINDED TO REVIEW THE CIRCULAR BEFORE VOTING. 

Interest of Certain Persons in Matters to be Acted Upon 

No person who has been a director or an officer of the Corporation at any time since the beginning of its last completed financial year or any
associate of any such director or officer has any material interest, direct or indirect, by way of beneficial ownership of securities or otherwise, in any matter to be acted upon at the meeting, except as disclosed in this Circular. 

VOTING SECURITIES AND PRINCIPAL HOLDERS OF VOTING SECURITIES 

The Corporation is authorized to issue an unlimited number of Shares. Each Share entitles the holder of record to notice of and one vote on
all matters to come before the Meeting. No group of shareholders has the right to elect a specified number of directors nor are there cumulative or similar voting rights attached to the Shares of the Corporation. 

The directors of the Corporation have fixed October 7, 2020 as the record date (the “Record Date”) for determination of
the persons entitled to receive notice of the Meeting. Shareholders of record as of the Record Date are entitled to vote their Shares except to the extent that they have transferred the ownership of any of their Shares after the Record Date, and the
transferees of those Shares produce properly endorsed share certificates or otherwise establish that they own the Shares, and demand, not later than ten (10) days before the Meeting, that their name be included in the shareholder list before
the Meeting, in which case the transferees are entitled to vote their Shares at the Meeting. 
 As of the date of this Circular, 133,300,086
Shares are issued and outstanding. 
 To the knowledge of the directors and officers of the Corporation, as of the date of this Circular, no
person or company beneficially owned, directly or indirectly, or exercised control or direction over, voting shares of the Corporation carrying more than ten percent (10%) of the voting rights attached to all shares of the Corporation, except as
follows: 
  

									
	 Shareholder
	  	
Number of Securities
	 	  	
Percentage of Common Shares
	 
	 Merida Capital Partners II LP, Merida Capital Partners III LP,
Merida Capital Partners III QP LP
	  	 	15,191,695	 	  	 	11.4	% 

 PARTICULARS OF MATTERS TO BE ACTED UPON 

To the knowledge of the Corporation’s directors, the only matters to be placed before the Meeting are those set forth in the accompanying
Notice of Meeting relating to: (a) the Delisting Resolution; (b) the Name Change Resolution; and (c) the 2020 Stock Option Plan Resolution. 

1. The Delisting Resolution 

The board of directors of the Corporation (the “Board” or “Board of Directors”) has determined that it is in
the best interests of the Corporation to apply to the Canadian Securities Exchange (the “CSE”) to delist (the “Delisting”) the Shares from the CSE and apply to the TSX Venture Exchange (the “TSXV”)
to approve the listing (the “Listing”) of the Shares on the TSXV. The CSE and the TSXV, as the case may be, may only provide such approval if the Shareholders approve the Delisting and the Listing. Accordingly, at the Meeting,
Shareholders will be asked to approve an ordinary resolution (the “Delisting Resolution”) to authorize the Delisting and the Listing. 

If Shareholders approve the ordinary resolution to authorize the Delisting and the Listing, the Corporation intends to apply to the CSE for
the Delisting and to the TSXV for the Listing. Subject to obtaining such approvals, all of the Shares are expected to be delisted from the CSE and Shareholders will no longer be able to purchase or sell

  
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any Shares through the CSE. Following Delisting, the Shares will, subject to approval of the TSXV, be listed on the TSXV. 

The text of the resolution with respect to the Delisting and the Listing to be voted on at the Meeting is set forth below: 

“BE IT RESOLVED as an ordinary resolution of the Shareholders that: 

 

	 	1.	 the Corporation is hereby authorized to voluntarily delist its common shares from the Canadian Securities
Exchange; 

  

	 	2.	 the Corporation be and it is hereby authorized to make application for the listing of all the common shares
in the capital of the Corporation issued and outstanding from time to time on the TSX Venture Exchange and, subject to the approval of such listing, to have its common shares listed and posted for trading on the TSX Venture Exchange;

  

	 	3.	 any one director or officer of the Corporation be and the same is hereby authorized, for and on behalf of
the Corporation to execute or cause to be executed, and to deliver or cause to be delivered all such applications, documents and filings, and to do or cause to be done all such acts and things, as in the opinion of such director or officer may be
necessary or desirable in order to carry out the terms of this resolution, such determination to be conclusively evidenced by the execution and delivery of such documents or the doing of any such act or thing; and 

 

	 	4.	 the board of directors of the Corporation is hereby empowered and authorized to revoke this resolution in
whole or in part at any time prior to it being acted upon, if the board of directors deems such revocation to be in the best interests of the Corporation.” 

Approval of the Delisting Resolution shall require the affirmative vote of a majority of the votes cast on the Delisting Resolution at the
Meeting, whether in person or by proxy. 
 THE BOARD UNANIMOUSLY RECOMMENDS THAT SHAREHOLDERS VOTE FOR THE DELISTING RESOLUTION. UNLESS A
PROXY CONTAINS INSTRUCTIONS ON HOW YOU WOULD LIKE YOUR COMMON SHARES VOTED AT THE MEETING, THE PERSONS NAMED IN THE ENCLOSED PROXY INTEND TO VOTE FOR THE APPROVAL OF THE DELISTING RESOLUTION. 

2. Approval of a Name Change 

The Board has determined that it is in the best interest of the Corporation to change the name of the Corporation to better reflect its current
business. Accordingly, the Board is seeking approval from Shareholders to authorize the Board to amend the Articles of the Corporation to change the name of the Corporation to “Skylight Health Group Inc.” or such other name as the Board
may determine, in its sole discretion, without further approval of the Shareholders (the “Name Change”). 
 At the
Meeting, Shareholders will be asked to consider and, if deemed advisable, to pass, with or without variation, a special resolution in the form set out below (the “Name Change Resolution”), subject to such amendments,
variations or additions as may be approved at the Meeting, to approve the Name Change. 
 Notwithstanding approval of the Name Change
Resolution by Shareholders at the Meeting, the Board may, in its sole discretion, abandon the Name Change at any time, without the approval or further approval or action by, or prior notice to the Shareholders of the Corporation. If the Board does
not implement the Name Change within 24 months of the approval of the Name Change Resolution at the Meeting, the authority granted by the Name Change Resolution will lapse and be of no further force or effect. 

The Board recommends that Shareholders vote FOR the Name Change Resolution. To be effective, the Name Change Resolution must be
approved by at least two-thirds of the votes cast by the Shareholders present in person, or represented by proxy, and entitled to vote at the Meeting. 

THE BOARD UNANIMOUSLY RECOMMENDS THAT SHAREHOLDERS VOTE FOR THE NAME CHANGE RESOLUTION. UNLESS A PROXY CONTAINS INSTRUCTIONS ON HOW YOU
WOULD LIKE YOUR COMMON SHARES VOTED AT THE MEETING, THE PERSONS NAMED IN THE ENCLOSED PROXY INTEND TO VOTE FOR THE APPROVAL OF THE NAME CHANGE RESOLUTION. 

  
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 The text of the Name Change Resolution to be submitted to Shareholders at the Meeting is set forth below:

 “BE IT RESOLVED AS A SPECIAL RESOLUTION THAT: 
  

	 	1.	 the Corporation’s articles of incorporation be amended pursuant to the Canada Business Corporations
Act (the “CBCA”) to change the name of the Corporation from “CB2 INSIGHTS INC.” to “Skylight Health Group Inc.” or such other name as may be approved by the Board of Directors of the Corporation, without
further approval of the Shareholders of the Corporation; 

  

	 	2.	 the effective date of such name change shall be the date shown in the certificate of amendment issued by a
director appointed under the CBCA or such other date indicated in the articles of amendment provided that, in any event, such date shall be prior to twenty-four (24) months from the date of the Meeting and if not implemented within such
twenty-four (24) month period the authority granted by this resolution to effect a name change on the foregoing terms will lapse and be of no further force or effect; 

 

	 	3.	 notwithstanding that this resolution has been duly passed by the Shareholders of the Corporation, the Board
of Directors of the Corporation be and are hereby authorized and empowered to revoke this resolution at any time prior to the endorsement by a director under the CBCA of a certificate of amendment of articles giving effect to the foregoing amendment
to the articles of the Corporation, without further approval of the Shareholders of the Corporation; and 

  

	 	4.	 any director and/or officer of the Corporation be and such director or officer of the Corporation is hereby
authorized and empowered, acting for, in the name of and on behalf of the Corporation, to execute or cause to be executed, under the seal of the Corporation or otherwise, and to deliver or cause to be delivered any and all such documents and
instruments and to do or to cause to be done all such other acts and things as, in the opinion of such director or officer, may be necessary or desirable in order to fulfil the intent of the foregoing paragraphs of this resolution including, without
limitation, the filing of articles of amendment, in duplicate, with the director under the CBCA.” 

 In the event
that the Corporation proceeds with a Name Change, letters of transmittal will be made available to Shareholders for use in depositing their certificates representing their Shares to the Transfer Agent in exchange for new certificates representing
the new name of the Corporation. Shareholders are not required to take any action at this time. Non-Registered Shareholders holding their Shares through an Intermediary should note that Intermediaries may have
different procedures for processing the Name Change than those that will be put in place by the Corporation for Registered Shareholders. If you hold your Shares with an Intermediary and you have questions in this regard, you are encouraged to
contact your Intermediary. Shareholders should not destroy any share certificates and should not submit any certificates until requested to do so.  

3. Approval of New Stock Option Plan 

The shareholders of the Corporation approved an incentive stock option plan (the “2018 Plan”) at the annual and special
meeting of shareholders of the Corporation held on December 27, 2017. The terms of the 2018 Plan are set out in the Corporation’s management information circular mailed to the Corporation Shareholders in respect of such meeting. At the
Meeting, Shareholders are being asked to approve a new stock option plan (the “2020 Stock Option Plan”), which conforms to the policies of the TSXV, a copy of which is attached as Schedule “A” to this Circular.
Following such approval, if the Shares become listed on the TSXV, the 2020 Stock Option Plan will replace the 2018 Plan and no further grants of stock options will be made under the 2018 Plan. 

Summary of the Principal Terms of the 2020 Stock Option Plan 

The 2020 Stock Option Plan is a “rolling” stock option plan under which options may be granted to “Eligible
Persons” in respect of authorized and unissued Shares provided that, the aggregate number of Shares reserved by the Corporation for issuance and which may be purchased upon the exercise of all options shall not exceed 10% of the issued and
outstanding Shares of the Corporation at the time of granting of options (on a non-diluted basis). An Eligible Person means any director, officer, employee (part-time or full-time), service provider or
consultant of the Corporation or any of its subsidiaries. If any option granted under the 2020 Stock Option Plan is surrendered, terminated, expires or is exercised, the Shares reserved for issuance, or issued, pursuant to such option shall be
available for new options granted under the 2020 Stock Option Plan. 

  
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 As at October 7, 2020, the Corporation had 7,884,011 Shares reserved for issuance
pursuant to stock options outstanding under the 2018 Plan (5.91% of the Corporation’s issued and outstanding Shares). For purposes of calculating the number of Shares reserved for issuance and which may be purchased upon the exercise of options
granted under the 2020 Stock Option Plan, all issued and outstanding options under the 2018 Plan are treated as if such options are issued and outstanding under the 2020 Stock Option Plan. Accordingly, options to purchase an aggregate of 13,330,008
Shares (10% of the current number of issued and outstanding Shares) will initially be available for issuance under the 2020 Stock Option Plan, less the 7,884,011 Shares currently reserved by the Corporation for issuance pursuant to options granted
under the 2018 Plan, leaving 5,445,997 Shares (4.09% of the Corporation’s current issued and outstanding Shares) reserved for issuance and available to be purchased pursuant to options available to be granted under the 2020 Stock Option Plan.

 The following is a summary of the other material terms of the 2020 Stock Option Plan: 

 

	 	(a)	 all options granted under the 2020 Stock Option Plan are
non-assignable and non-transferable and can be exercised for a period of up to 10 years, as determined by the Corporation Board. The expiry date of outstanding options
held by optionees that would otherwise expire during a restricted trading period, imposed by the Corporation pursuant to any of its policies (a “Blackout Period”), will be extended for a period of 10 business days following
the end of such Black-Out Period. 

  

	 	(b)	 The number of Shares, the exercise price, the vesting period and any other terms and conditions of options
granted pursuant to 2020 Stock Option Plan are determined by the Corporation’s Board of Directors, subject to the express provisions of the 2020 Stock Option Plan. 

 

	 	(c)	 The exercise price of options under the 2020 Stock Option Plan will be set by the Corporation’s Board
at the time of grant and cannot be less than the Discounted Market Price (as such term in defined in the policies of the TSXV); provided however, that if the Shares are not listed on the TSXV, the purchase price shall not be less than the closing
price of the Shares on the stock exchange on which the Shares are listed on the last trading day immediately preceding the date of the grant of such option; and provided further, that if the Shares are not listed on any stock exchange, the purchase
price shall not be less than the fair market value of the Shares, as may be determined by the Corporation’s Board on the day immediately preceding the date of the grant of such option. In addition to any resale restrictions under applicable
securities laws, if the Shares are listed on the TSXV, where the exercise price of any option is priced less than the closing price of the Shares on the TSXV on the last day upon which the Shares traded on the TSXV immediately preceding the day on
which the Corporation’s Board grants such option, the options and any Shares issued upon exercise of such options will be subject to, and must be legended in respect of, the Exchange Hold Period (as such term in defined in the policies of the
TSXV) of four months commencing on the date such options were granted. 

  

	 	(d)	 If before the expiry of the option, the optionee ceases to be an Eligible Person for any reason other than
the death of the Eligible Person or termination by the Corporation’s for cause, the option will terminate on a date determined by the Board, which date shall not be less than 90 days and not more than 12 months of the date the optionee ceases
to be an Eligible Person. If the optionee ceases to be an Eligible Person by reason of termination by the Corporation for cause, the option will terminate immediately upon the optionee ceasing to be an Eligible Person. 

 

	 	(e)	 In the event of the death of the optionee, the option continues to be exercisable for a period up to twelve
months from the date of such event. 

  

	 	(f)	 In addition, the 2020 Stock Option Plan provides for the following limits on option grants: (i) the
aggregate number of Shares reserved for issuance pursuant to options granted to insiders of the Corporation (as a group), together with all of the Corporation’s other share compensation arrangements, at any point in time shall not exceed 10% of
the issued and outstanding Shares at such time unless Disinterested Shareholder Approval (as such term in defined in the policies of the TSXV) is obtained; (ii) the aggregate number of Shares reserved for issuance pursuant to options granted to
insiders of the Corporation (as a group), within any twelve month period shall not exceed 10% of the issued and outstanding Shares at the time of the grant of the option unless Disinterested Shareholder Approval (as

  
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such term in defined in the policies of the TSXV) is obtained; (iii) the number of Shares reserved for issue to any one consultant of the Corporation under the 2020 Stock Option Plan within
any twelve month period may not exceed 2% of the issued and outstanding Shares at the time of grant of the option; and (iv) the number of Shares reserved for issue to persons retained by the Corporation to provide investor relations activities
(as defined in the policies of the TSXV) within any twelve month period may not exceed 2% of the issued and outstanding Shares at the time of grant of the option. 

 

	 	(g)	 The 2020 Stock Option Plan contains a formal amendment procedure which provides that amendments that can be
made to the 2020 Stock Option Plan by the Corporation’s Board without requiring the approval of shareholders unless specifically required by the TSXV. These amendments include, without limitation: (i) altering, extending or accelerating
option vesting terms and conditions; (ii) amending the termination provisions of an option, which amendment shall include determining that any provisions of the 2020 Stock Option Plan concerning the effect of the optionee ceasing to be an
Eligible Person shall not apply for any reason acceptable to the Corporation’s Board of Directors; (iii) determining adjustments pursuant to the provisions of the 2020 Stock Option Plan concerning corporate changes; (iv) amending the
definitions contained in the 2020 Stock Option Plan; (v) amending the terms and conditions of any financial assistance which may be provided by the Corporation to optionees to facilitate the purchase of Shares under the Plan, or adding,
amending or removing any provisions for such financial assistance; (vi) amending provisions relating to the administration of the 2020 Stock Option Plan; (vii) making “housekeeping” amendments, such as those necessary to cure
errors or ambiguities contained in the 2020 Stock Option Plan; (viii) effecting amendments necessary to comply with the provisions of applicable laws (including, without limitation, the rules, regulations and policies of the TSXV); and
(ix) effecting amendments necessary to suspend or terminate the 2020 Stock Option Plan. 

 The 2020 Stock Option Plan
also specifically provides that the following amendments, among others, require shareholder approval: (i) increasing the number of Shares issuable under the 2020 Stock Option Plan, except by operation of the “rolling” maximum reserve
or an adjustment pursuant to the provisions of the 2020 Stock Option Plan; (ii) any amendment which could result in the aggregate number of Shares issued to insiders of the Corporation within any one-year
period or issuable to insiders of the Corporation at any time under the 2020 Stock Option Plan, together with any other security based compensation arrangement, exceeding 10% of the issued and outstanding Shares; (iii) extending the term of an
option held by an insider of the Corporation; (iv) reducing the option price of an option; (v) amending the formal amendment procedures; and (vi) making any amendments required to be approved by the shareholders under applicable law

 In connection with the foregoing, shareholders will be asked to approve the following resolution (the “2020 Stock Option Plan
Resolution”): 
 “BE IT RESOLVED THAT: 

 

	 	1.	 the 2020 Stock Option Plan a copy of which is attached as Schedule “A” to the Management
Information Circular of the Corporation dated October 7, 2020, be and it is hereby adopted, confirmed and approved, including that the maximum number of common shares (“Shares”) of the Corporation reserved for issuance under
the 2020 Stock Option Plan and all of the Corporation’s other security based compensation arrangements at any given time is equal to ten percent (10%) of the issued and outstanding Shares as at the date of grant of an option under the 2020
Stock Option Plan. 

  

	 	2.	 notwithstanding that this resolution has been duly passed by the Shareholders of the Corporation, the Board
of Directors of the Corporation be and are hereby authorized and empowered to revoke this resolution at any time prior to any listing of the Shares on the TSX Venture Exchange, without further approval of the Shareholders of the Corporation; and

  

	 	3.	 any director and/or officer of the Corporation be and such director or officer of the Corporation is hereby
authorized and empowered, acting for, in the name of and on behalf of the Corporation, to execute or cause to be executed, under the seal of the Corporation or otherwise, and to deliver or cause to be delivered any and all such documents and
instruments and to do or to cause to be done all such other acts and things as, in the opinion of such director or officer, may be necessary or desirable in order to fulfil the intent of the foregoing paragraphs of this resolution.”

  
 9 

 
Approval of the Stock Option Plan Resolution shall require the affirmative vote of a majority of the votes cast on the Delisting Resolution at the Meeting, whether in person or by proxy. 

THE BOARD UNANIMOUSLY RECOMMENDS THAT SHAREHOLDERS VOTE FOR THE 2020 STOCK OPTION PLAN RESOLUTION. UNLESS A PROXY CONTAINS INSTRUCTIONS ON
HOW YOU WOULD LIKE YOUR COMMON SHARES VOTED AT THE MEETING, THE PERSONS NAMED IN THE ENCLOSED PROXY INTEND TO VOTE FOR THE APPROVAL OF THE 2020 STOCK OPTION PLAN RESOLUTION. 

INTEREST OF INFORMED PERSONS IN MATERIAL TRANSACTIONS 

Management of the Corporation is not aware of any material interests, direct or indirect, of any informed person of the Corporation, any
proposed director of the Corporation, or any associate or affiliate of any informed person or proposed director, in any transaction since the commencement of the Corporation’s most recently completed financial year or in any proposed
transaction which has materially affected or would materially affect the Corporation or any of its subsidiaries. 
 OTHER BUSINESS

 Management of the Corporation is not aware of any matters to come before the meeting other than those set out in the Notice of
Meeting. If other matters come before the Meeting it is the intention of the individuals indicated in the form of proxy to vote the same in accordance with their best judgment in such matters. 

ADDITIONAL INFORMATION 

Additional information relating to the Corporation is available on SEDAR at www.sedar.com.  

APPROVAL OF BOARD OF DIRECTORS 

The contents of this Circular, and the sending thereof to each director of the Corporation, to the auditor of the Corporation and to the
shareholders of the Corporation has been approved by the Board. 
 DATED at the City of Toronto, in the Province of Ontario, this 7th day of October 2020. 
  

	
	 “signed”

	Kashaf Qureshi
	President and Director

  
 10 

 Schedule “A” 

CB2 INSIGHTS INC. 
 2020
STOCK OPTION PLAN 
 October 15, 2020 
  

	1.	 PURPOSE 

CB2 Insights Inc. (the “Company”) is committed to providing appropriate incentives to Eligible Persons to acquire a
proprietary interest in the Company in order to continue their participation in the affairs of the Company and to increase their efforts on behalf of the Company. The purpose of this 2020 Stock Option Plan is to advance the interests of the Company
by: (a) providing Eligible Persons with additional incentive; (b) encouraging share ownership by such Eligible Persons; (c) increasing the proprietary interest of Eligible Persons in the success of the Company; (d) encouraging
Eligible Persons to remain with the Company or its Subsidiaries; and (e) attracting new employees, directors and officers. 
  

	2.	 INTERPRETATION 

 

	2.1	 Definitions. In this Plan, the following words have the following meanings: 

  

	 	(a)	 “acting jointly or in concert” means the determination of whether a person or group of persons
is acting jointly or in concert shall be determined in accordance with the Ontario Securities Act; 

  

	 	(b)	 “Affiliate” means any corporation that is an Affiliate of the Company within the
meaning set forth in Exchange Policy; 

  

	 	(c)	 “Applicable Securities Laws” means the Ontario Securities Act and the equivalent
legislation in the other provinces and in the territories of Canada, as may be applicable and as amended from time to time, the rules, regulations and forms made or promulgated under any such statute and the published national instruments,
multilateral instruments, policies, bulletins and notices of the securities commissions and similar regulatory authorities of each of the provinces and territories of Canada; 

 

	 	(d)	 “Ontario Securities Act” means the Securities Act (Ontario); 

 

	 	(e)	 “Blackout Period” means a period of time when, pursuant to any policies of the Company,
securities of the Company may not be traded by certain persons as designated by the Company, including an Optionee as a result of the existence of undisclosed Material Information, but excludes any period during which a regulator has halted trading
in the Company’s securities, and which expires upon the public announcement of such Material Information; 

  

	 	(f)	 “Board” means the board of directors of the Company, and includes any committee of the Board
to which responsibilities with respect to the Plan have been delegated; 

  

	 	(g)	 “Business Day” means a day which is not a Saturday, Sunday or a civic or statutory holiday in
Toronto, Ontario; 

  

	 	(h)	 “Change of Control” means the first to occur of any of the following events:

  

	 	(i)	 any event or series of related events or transaction or series of related transactions as a result of which
or pursuant to which any person or group of persons acting jointly or in concert acquires, directly or indirectly, beneficial ownership of or control or direction over Voting Shares of the Company (other than pursuant to a treasury issuance of
Voting Shares of the Company), or Voting Shares of the Company are redeemed or otherwise acquired by the Company or are cancelled, where, immediately following the occurrence of such event or series of events or completion of such transaction or
series of transactions, the number of Voting Shares of the Company beneficially owned, directly or indirectly, or over which control or direction is exercised by such person or group of persons acting jointly or in concert totals for the first time
Voting Shares of the Company carrying more than 50% of the votes attaching to all Voting Shares of the Company outstanding immediately following such occurrence or completion; 

 

	 	(ii)	 any event or series of related events or transaction or series of related transactions as a result of which
or pursuant to which Voting Shares of the Company are converted into or exercised or exchanged for securities of another person (the “Resulting Person”) and any person or group of persons acting jointly or in concert acquires,
directly or indirectly, beneficial ownership of or control or direction over Voting Shares of such Resulting Person where, immediately following the occurrence of such event or series of events or completion of such transaction or series of
transactions, the number of Voting Shares of the Resulting Person beneficially owned, directly or indirectly, or over which control or direction is exercised by such person or group of persons acting jointly or in concert totals for the first time
Voting Shares of the Resulting Person carrying more than 50% of the votes attaching to all Voting Shares of the Resulting Person outstanding immediately following such occurrence or completion; 

 

	 	(iii)	 a change in the composition of the Board as a result of a contested election of directors of the Company,
with the result that less than 50% of the directors of the Company elected in such election are comprised of the individuals who were directors of the Company prior to such contested election; 

 

	 	(iv)	 the sale, lease, exchange or other transfer or disposition, in a single transaction or a series of related
transactions (including by way of the liquidation, dissolution, winding-up or other distribution by the Company or any subsidiary of the Company) of assets having a Fair Market Value equal to 50% or more of the Fair Market Value (as determined by
the Board) of all of the assets of the Company on a consolidated basis, excluding a transaction or series of related transactions between the Company or any subsidiary of the Company or between subsidiaries of the Company; or 

	 	(v)	 the determination by the Board that a change in legal or effective control of the Company has occurred or is
imminent; 

  

	 	(i)	 “Company” means CB2 Insights Inc., a corporation existing under the laws of Canada;

  

	 	(j)	 “Consultant” has the same meaning as set forth in Exchange Policy provided that such Optionee
is also a “consultant” as defined in NI 45-106; 

  

	 	(k)	 “Consultant Company” has the same meaning as set forth in Exchange Policy provided that
such Optionee is also a “consultant” as defined in NI 45-106; 

  

	 	(l)	 “Director” has the same meaning as set forth in Exchange Policy provided that such Director is
also a “director” as defined in NI 45-106; 

  

	 	(m)	 “Discounted Market Price” has the same meaning as set forth in Exchange Policy;

  

	 	(n)	 “Disinterested Shareholder Approval” means disinterested Shareholder approval, as may
be applicable in the circumstances, as described in Exchange Policy; 

  

	 	(o)	 “Effective Date” for an Option means the date on which the Option is granted;

  

	 	(p)	 “Eligible Person” means, subject to the Applicable Securities Law and Exchange Policy,
any Employee, Director, Consultant or Management Company Employee who is approved for participation in the Plan by the Board; 

  

	 	(q)	 “Employee” has the same meaning as set forth in Exchange Policy provided that such Employee is
also a “employee” as under Applicable Securities Laws; 

  

	 	(r)	 “Exchange” means the TSX Venture Exchange or any successor or assign thereof;

  

	 	(s)	 “Exchange Hold Period” means, if applicable, the four month resale restriction imposed
by the Exchange pursuant to Exchange Policy; 

  

	 	(t)	 “Exchange Policy” means Policy 4.4 – Incentive Stock Options as set forth in
the Exchange’s published Corporate Finance Manual, together with such other published policies of the Exchange and the bulletins, notices, appendices and forms related thereto, as from time to time amended or
re-adopted; 

  

	 	(u)	 “Exercise Form” means the notice of exercise delivered by an Optionee to the Company
upon the exercise of any Option hereunder in such other form as the Board may approve for any one or more Optionees or for a group of Optionees, as same may be amended from time to time; 

 

	 	(v)	 “Exercise Period” means the period of time during which an Option granted under the
Plan may be exercised (provided, however, that the Exercise Period may not exceed ten (10) years from the relevant Effective Date unless permitted under Section 6.05; 

 

	 	(w)	 “Exercise Price” means the price per Share at which Shares may be purchased under an
Option, as the same may be adjusted from time to time in accordance with the terms hereof; 

  

	 	(x)	 “Expiry Date” has the meaning prescribed under Section 6.05 of this Plan;

  

	 	(y)	 “Fair Market Value” means the highest price, expressed in dollars, that the Share
would bring in an open and unrestricted market between a willing buyer and a willing seller who are both knowledgeable, informed, and prudent, and who are acting independently of each other and who deal with each other at arm’s length for
purposes of the ITA; 

  

	 	(z)	 “Holder” means a holder of an Option under the Plan; 

 

	 	(aa)	 “Insider” has the same meaning as set forth in Exchange Policy; 

 

	 	(bb)	 “IR Activities” has the same meaning as “Investor Relations
Activities” as set forth in Exchange Policy; 

  

	 	(cc)	 “ITA” means the Income Tax Act (Canada); 

 

	 	(dd)	 “Merger and Acquisition Transaction” means (i) any merger; (ii) any
acquisition; (iii) any amalgamation; (iv) any offer for Shares which if successful would entitle the offeror to acquire more than 50% of all Shares; (v) any arrangement or other scheme of reorganization; or (vi) any
consolidation, that results in a Change of Control; 

  

	 	(ee)	 “Option” means the right to purchase Shares granted to an Eligible Person in accordance with
the terms of the Plan; 

  

	 	(ff)	 “Option Agreement” means the notice of grant of an Option delivered by the Company
hereunder to an Optionee in such other form as the Board may approve for any one or more Optionees or for a group of Optionees, as same may be amended from time to time; 

 

	 	(gg)	 “Optioned Shares” means Shares subject to an Option; 

 

	 	(hh)	 “Optionee” means an Eligible Person to whom an Option is granted by the Company under the
Plan, whether a Director, Employee, or Consultant; 

  
 ii 

	 	(ii)	 “Management Company Employee” has the same meaning as set forth in Exchange Policy
provided that such Optionee is also a “director” or “consultant” as defined in NI 45-106; 

  

	 	(jj)	 “Market Price” has the same meaning as set forth in Exchange Policy;

  

	 	(kk)	 “Material Information” has the same meaning as set forth in Exchange Policy;

  

	 	(ll)	 “NI 13-101” means National Instrument 13-101 – System for Electronic Document Analysis and Retrieval of the Canadian Securities Administrators;  

 

	 	(mm)	 “NI 45-106” means National Instrument 45-106 - Prospectus and Registration Exemptions of the Canadian Securities Administrators; 

  

	 	(nn)	 “person” or “persons” means any individual, partnership, limited
partnership, joint venture, syndicate, sole proprietorship, company or corporation with or without share capital, unincorporated association, trust, trustee, executor, administrator or other legal personal representative, regulatory body or agency,
government or governmental agency, authority or entity however designated or constituted; 

  

	 	(oo)	 “persons retained to provide IR Activities” shall include any Consultant that performs
IR Activities and any Employee or Director whose role and duties primarily consist of IR Activities; 

  

	 	(pp)	 “Plan” means this Stock Option Plan of the Company, as from time to time amended or re-adopted; 

  

	 	(qq)	 “public announcement” shall mean disclosure in a press release reported by a
national news service in Canada, or, if applicable, in a document publicly filed by or on behalf of the Company under its profile on SEDAR; 

  

	 	(rr)	 “Regulatory Approval” means the approval or acceptance, as the case may be, of any
securities or other applicable regulatory agency (including the Exchange pursuant to Exchange Policy) which may have jurisdiction in the circumstances; 

  

	 	(ss)	 “SEDAR” means the System for Electronic Document Analysis and Retrieval described in NI 13-101 and available for public view at www.sedar.com; 

  

	 	(tt)	 “Shares” means the common shares without par value which the Company is from time to time
authorized to issue; 

  

	 	(uu)	 “Subsidiary” means a corporation which is a subsidiary of the Company as defined in the
Ontario Securities Act; 

  

	 	(vv)	 “Termination Date” means: 

 

	 	(i)	 in the case of an Optionee whose employment or term of office with the Company or a Subsidiary terminates in
the circumstances set out in Subsection 8.02(a) or the date that is designated by the Company or the Subsidiary, as the case may be, as the last day of such person’s employment or term of office with the Company or the Subsidiary, as the case
may be; 

  

	 	(ii)	 in the case of an Optionee whose employment or term of office with the Company or a Subsidiary terminates in
the circumstances set out in Subsection 8.03(a)(ii), the date of the notice of termination of employment or term of office given by the Company or the Subsidiary, as the case may be; 

 

	 	(iii)	 in the case of an Optionee whose employment or term of office with the Company or a Subsidiary terminates in
the circumstances set out in Subsection 8.03(a)(i) or Subsection 8.03(a)(iii), the date of resignation or retirement, as the case may be; 

  

	 	(iv)	 in the case of an Optionee whose consulting arrangements (or, if applicable, those of its Consulting Company
if the Optionee is an individual) are terminated by the Company or a Subsidiary in the circumstances set out in Subsection 8.02(b), the date that is designated by the Company or the Subsidiary, as the case may be, as the last day of the
Optionee’s consulting arrangements (or those of its Consulting Company) with the Company or the Subsidiary, as the case may be; 

  

	 	(v)	 in the case of an Optionee whose consulting arrangements (or, if applicable, those of its Consulting Company
if the Optionee is an individual) are terminated in the circumstances set out in Subsection 8.03(b), the date of the notice of termination given to the Optionee (or, if applicable, those of its Consulting Company if the Optionee is an individual) or
the expiry of the original term or any subsequent renewal term of the consulting arrangements, as the case may be; 

and in each such case, “Termination Date” specifically does not mean the date on which any period of
reasonable notice that the Company or the Subsidiary, as the case may be, may be required at law to provide to the Optionee would expire; and 
  

	 	(ww)	 “Voting Share” means any share or other security that carries a voting right either
under all circumstances or under some circumstances that have occurred and are continuing and also includes any share or other security that is convertible into or exercisable or exchangeable (in each case, whether at the time or at any time in the
future and whether or not on condition or the occurrence of any contingency) for a Voting Share. 

  

	2.2	 Interpretation. In this Plan, unless the context otherwise requires: 

  

	 	(a)	 words importing the singular include the plural and vice versa and words importing gender include all genders
and neuter; 

  
 iii 

	 	(b)	 the division of this Plan into articles, sections, and paragraphs and the insertion of headings herein are
for convenience of reference only and shall not affect in anyway the meaning or interpretation of this Plan and the terms “this Plan”, “hereof”, “herein”, “hereto”, “hereunder” and similar
expressions refer to this Plan and not to any particular article, section or other portion hereof and include any instrument supplementary or ancillary hereto or thereto; 

 

	 	(c)	 the word “including”, when following a general statement or term, is not to be construed as
limiting the general statement or term to any specific item or matter set forth or to similar items or matters, but rather as permitting the general statement or term to refer also to all other items or matters that could reasonably fall within its
broadest possible scope; 

  

	 	(d)	 if the date on which any action is required to be taken hereunder is not a Business Day, that action shall
be required to be taken on the first Business Day prior to such date, unless specifically provided otherwise in this Plan; and 

  

	 	(e)	 a reference to legislation, includes rules, regulations and forms made or promulgated under any such
legislation and the published national instruments, multilateral instruments, policies, bulletins made thereunder, together with all amendments thereto in force from time to time, and any legislation, rules, regulations, forms and published national
instruments, multilateral instruments, policies, bulletins that supplement or supersede such legislation. 

  

	2.3	 Governing Law. This Plan and all matters to which reference is made herein shall be
governed by and interpreted in accordance with the laws of the province of Ontario. 

  

	3.	 ADMINISTRATION 

 

	3.1	 Administration by the Board. The Board, or if applicable any committee of the Board to
which responsibilities with respect to the Plan have been delegated, shall be responsible for the general administration of the Plan and the proper execution of its provisions, the interpretation of the Plan and the determination of all
questions arising hereunder. The day-to-day administration of the Plan may be delegated to such officers and employees of the Company or of a Subsidiary as the Board
determines. 

  

	3.2	 Authority of the Board. Subject to the limitations of the Plan, the Board has the authority
to:  

  

	 	(a)	 grant Options to purchase Shares to Eligible Persons; 

 

	 	(b)	 determine the terms, including the limitations, restrictions and conditions, if any, upon such grants;

  

	 	(c)	 interpret the Plan and to adopt, amend and rescind such administrative guidelines and other rules and
regulations relating to the Plan as it may from time to time deem advisable, subject to required Regulatory Approval; and 

  

	 	(d)	 make all other determinations and to take all other actions in connection with the implementation and
administration of the Plan as it may deem necessary or advisable. 

 Any decision, interpretation or other action made or
taken in good faith by or at the direction of the Company or the Board (or any of its members) arising out of or in connection with the Plan shall be within the absolute discretion of all and each of them, as the case may be, and shall be final,
binding and conclusive on the Company and Optionees and their respective heirs, executors, administrators, successors and assigns and all other persons. 
  

	3.3	 Accounts and Statements. The Corporation will maintain, or cause to be maintained, records indicating the
number of Options granted to each Optionee and the number of Optioned Shares issued under the Plan. 

  

	3.4	 Use of an Administrative Agent and Trustee. The Board may in its sole discretion appoint from time to time
one or more entities to act as administrative agent to administer the Options granted under the Plan and to act as trustee to hold and administer the assets that may be held in respect of Options granted under the Plan, the whole in accordance with
the terms and conditions determined by the Board in its sole discretion. In such case, the Company and the administrative agent will maintain records showing the number of Options granted to each Optionee under the Plan. 

 

	4.	 SHARES RESERVED 

 

	4.1	 Shares Reserved Under the Plan. The maximum number of Shares reserved for issuance under
the Plan and all of the Company’s other security based compensation arrangements at any given time is equal to ten percent (10%) of the issued and outstanding Shares as at the date of grant of an Option under the Plan, including all of the
existing Common Shares currently subject to outstanding Options as of the Adoption Date (as defined below) which were granted prior to the implementation of this Plan and which, by the implementation of this Plan, are covered under this Plan and
subject to adjustment or increase of such number pursuant to Subsections 10.2(a) and 10.2(b). 

  

	4.2	 Exercised Options. Any Shares subject to an Option granted under the Plan which have been
exercised by an Optionee, shall again be available for grants under the Plan and shall be considered to be part of the pool of Shares available for Options under the Plan and may be made the subject of a further Option or Options granted
pursuant to the Plan. 

  

	4.3	 Cancelled, Surrendered or Terminated Options. If and to the extent any Option granted under
the Plan expires or is cancelled, terminated or surrendered without having been exercised in whole or in part, the number of Shares in respect of which such Option expired or was cancelled or terminated shall be considered to be part of the pool
of Shares available for Options under the Plan and may be made the subject of a further Option or Options granted pursuant to the Plan. 

  
 iv 

	4.4	 No U.S. Registration. Any Options granted under the Plan or Shares subject thereto have not
been and will not be registered under the United States Securities Act of 1933, or the securities laws of any state of the United States. The Options granted under the Plan may not be exercised in the United States or by, or for the benefit or
account of, any person in the United States or any U.S. Person as defined in United States Securities Act of 1933, unless such Options have been registered under the United States Securities Act of 1933 and the applicable securities laws of any such
state or an exemption from such registration requirements is available. Shares issued upon exercise of any Option may not be offered or sold in the United States or to, or for the benefit or account of, any person in the United States or any U.S.
Person as defined in United States Securities Act of 1933, unless such Shares have been registered under the United States Securities Act of 1933 and the applicable securities laws of any such state or an exemption from such registration
requirements is available. 

  

	5.	 ELIGIBILITY 

 

	5.1	 Eligibility. Eligible Persons are eligible to participate in the Plan, provided that
eligibility to participate does not confer upon any Eligible Person any right to be granted Options pursuant to the Plan. The extent to which any Eligible Person is entitled to be granted Options pursuant to the Plan will be determined in the
sole and absolute discretion of the Board. An Eligible Person may receive Options on more than one occasion and may receive separate Options, with differing terms, on any one or more occasions. With respect to Options granted to Employees,
Consultants or Management Company Employees, the Board and the Optionee are responsible for ensuring and confirming that the Optionee is a bona fide Employee, Consultant or Management Company Employee, as the case may be.

  

	5.2	 Continuing Eligibility. Any Optionee to whom an Option is granted under the Plan who
subsequently ceases to hold the position in which he received such Option shall continue to be eligible to hold such Option as a Optionee as long as otherwise continuing to be an Eligible Person in any capacity. 

 

	5.3	 Participation Voluntary. Participation in the Plan by an Optionee will be voluntary. 

  

	6.	 GRANT OF OPTIONS 

 

	6.1	 Grant of Options. The Board may, from time to time, subject to the provisions of the Plan
and such other terms and conditions as the Board may prescribe, grant Options to any Eligible Person. Subject to specific variations approved by the Board, all terms and conditions set out in the Plan will be deemed to be incorporated into
and form part of each Option granted under the Plan. 

  

	6.2	 Number of Shares Subject to Option. Subject to the limitations set out in Article 7, the
number of Shares subject to each Option shall be determined by the Board, and such number shall be set out in the Option Agreement evidencing the grant of such Option. 

 

	6.3	 Exercise Price. The Board will establish the Exercise Price at the time each Option is
granted and allocated to particular Eligible Persons and approved by the Board, provided that the Exercise Price shall not be less than the Discounted Market Price as of date of such grant of the Option or, if the Shares are not listed on the
Exchange, the Fair Market Value determined in good faith by the Board. In addition to any resale restrictions under Applicable Securities Laws and the Plan, where the Exercise Price of any Option is priced at a discount to the Market Price on the
date of grant, any such Option and any Shares issued upon exercise of such Option prior to the expiry of the Exchange Hold Period will be subject to, and must contain a legend in respect of, the Exchange Hold Period commencing on the date such
Options were granted. 

  

	6.4	 Vesting of Option Rights. No Option may be exercised by an Optionee unless it is fully
vested. Subject to the provisions of this Section 6.04 and Article 10, Options shall vest, and thereafter be exercisable: 

  

	(a)	 over a period of eighteen (18) months from the Effective Date, with no more than one third (1/3) of
such Options vesting in any six (6) month period therein; or 

  

	(b)	 as otherwise determined by the Board in its discretion. 

Notwithstanding the foregoing Options granted to persons retained to provide IR Activities shall vest at least over a period of twelve
(12) months from the Effective Date, with no more than one quarter (1/4) of such Options vesting in any three (3) month period therein. The Board may impose such other restrictions or limitations or requirements upon the exercise of
Options as the Board, in its sole and absolute discretion, may determine on the date of grant. 
  

	6.5	 Term and Expiry. Subject to any accelerated termination as set forth in the Plan, all
Options granted pursuant to the Plan will expire on the date (the “Expiry Date”) as determined by the Board at the date of grant, provided that no Option may be exercised beyond five (5) years from the Effective
Date. Notwithstanding the above, if the Expiry Date for any Option falls within a Blackout Period or within ten (10) Business Days from the expiration of a Blackout Period (such Options to be referred to as “Restricted
Options”), the Expiry Date of such Restricted Options shall be automatically extended to the date that is the 10th Business Day following the end of the Blackout Period, such 10th Business Day to be considered the Expiry Date for such
Restricted Options for all purposes under the Plan. 

  

	6.6	 Non-Assignable and
Non-Transferable. Options shall be non-assignable and non-transferable by a holder thereof other than by will or
the laws of descent. 

  
 v 

	7.	 LIMITATIONS OF OPTIONS 

 

	7.1	 Grants to Persons. Notwithstanding any other provision herein, the aggregate number of
Shares reserved for issuance pursuant to Options granted to any one person (and any Consulting Company wholly owned by that person), within any twelve (12) month period shall not exceed 5% of the issued and outstanding Shares at the time
of the grant of the Option unless the Company has received Disinterested Shareholder Approval in accordance with Exchange Policy. 

  

	7.2	 Grants to Insiders. Notwithstanding any other provision herein,  

 

	 	(a)	 the aggregate number of Shares reserved for issuance under Options granted to Insiders (as a group) and any
other security based compensation arrangements of the Company at any point in time shall not exceed 10% of the issued and outstanding Shares at such time; or 

  

	 	(b)	 the aggregate number of Shares reserved for issuance pursuant to Options granted to Insiders (as a group),
within any twelve (12) month period shall not exceed 10% of the issued and outstanding Shares at the time of the grant of the Option; 

unless the Company has received Disinterested Shareholder Approval in accordance with Exchange Policy. For the purposes of the
limitations set forth in Subsections 7.2(a) and 7.2(b) above, Options held by an Insider at any point in time that were granted to such person prior to it becoming an Insider shall be considered Options granted to an Insider irrespective of the fact
that the person was not an Insider at the time of grant. 
  

	7.3	 Grants to Consultants. Notwithstanding Section 7.1, but subject to the limit set forth
in Section 7.4, the aggregate number of Shares reserved for issuance pursuant to Options granted to any one Consultant within a twelve (12) month period shall not exceed 2% of the issued and outstanding Shares at the time of the
grant of the Option. 

  

	7.4	 Grants to Persons Providing IR Activities. Notwithstanding Section 7.1, the aggregate
number of Shares reserved for issuance pursuant to Options granted within any twelve (12) month period to persons retained to provide IR Activities shall not exceed 2% of the issued and outstanding Shares at the time of the grant of the
Option. 

  

	8.	 TERMINATION OF OPTIONS 

 

	8.1	 Ceasing to be an Eligible Person (Death). In the event an Optionee’s employment or
consulting arrangements (or, if applicable, those of its Consulting Company if the Consultant who is an Optionee is an individual) or term of office with the Company or a Subsidiary ceases by reason of the Optionee’s death, then:

  

	 	(a)	 the executor or administrator of the Optionee’s estate or the Optionee, as the case may be, may
exercise any Options of the Optionee to the extent that the Options were exercisable at the date of such death and the right to exercise the Options terminates on the earlier of: 

 

	 	(i)	 the date that is twelve (12) months from the date of the Optionee’s death; and 

 

	 	(ii)	 the date on which the Exercise Period of the particular Option expires; 

 

	 	(b)	 any Options held by the Optionee that were not exercisable at the date of death immediately expire and are
cancelled on such date; and 

  

	 	(c)	 such Optionee’s eligibility to receive further grants of Options under the Plan ceases as of the date of
the Optionee’s death. 

  

	8.2	 Ceasing to be an Eligible Person (Cause or Breach). In the event: 

 

	 	(a)	 an Optionee’s employment or term of office with the Company or a Subsidiary is terminated by the Company
or a Subsidiary for lawful cause, or 

  

	 	(b)	 an Optionee’s consulting arrangements (or, if applicable, those of its Consulting Company if the
Optionee is an individual) with the Company or a Subsidiary are terminated by the Company or a Subsidiary for breach of agreement prior to the expiry of the original term or any subsequent renewal term of such arrangements; then

  

	 	(c)	 any Options held by such Optionee (or, if applicable, those of its Consulting Company), whether or not such
Options are exercisable at the applicable Termination Date, immediately expire and are cancelled on the applicable Termination Date at a time determined by the Board, at its discretion; and 

 

	 	(d)	 such Optionee’s eligibility to receive further grants of Options under the Plan ceases as of the
applicable Termination Date. 

  

	8.3	 Ceasing to be an Eligible Person (Without Cause or Breach). In the event: 

 

	 	(a)	 an Optionee’s employment or term of office with the Company or a Subsidiary terminates by reason of:

  

	 	(i)	 voluntary resignation by such Optionee; 

 

	 	(ii)	 termination by the Company or a Subsidiary without cause (whether such termination occurs with or without any
or 

  
 vi 

	 	 
adequate reasonable notice or with or without any or adequate compensation in lieu of such reasonable notice); or 

 

	 	(iii)	 the retirement of such Optionee in accordance with the then customary policies and practices of the Company
in relation to retirement; or 

  

	 	(b)	 an Optionee’s consulting arrangements (or, if applicable, those of its Consulting Company) with the
Company or a Subsidiary are terminated in circumstances other than those referred to in Subsection 8.02(b); 

  

	 	then:	 

  

	 	(c)	 any Options held by the Optionee (or, if applicable, those of its Consulting Company) that are exercisable
at the Termination Date continue to be exercisable by the Optionee until the earlier of: 

  

	 	(i)	 the date determined by the Board, at its discretion, which is not less than 90 days and not more than is
twelve (12) months following the applicable Termination Date; and 

  

	 	(ii)	 the date on which the Exercise Period of the particular Option expires; 

 

	 	(d)	 any Options held by the Optionee (or, if applicable, those of its Consulting Company) that are not
exercisable at the Termination Date immediately expire and are cancelled upon the Termination Date; and 

  

	 	(e)	 such Optionee’s eligibility to receive further grants of Options under the Plan ceases as of the
Termination Date. 

 Without limitation, and for greater certainty only, this Section 8.03 will apply
regardless of whether the Optionee received compensation in respect of any termination by the Company or a Subsidiary without cause or was entitled to a period of notice of termination which would otherwise have permitted a greater portion of the
Option to vest with the Optionee. 
  

	8.4	 Discretion to Permit Exercise. Notwithstanding the provisions of Sections 8.02 and 8.03,
the Board may, in its discretion, at any time prior to or following the events contemplated in such sections and in any Option Agreement, permit the exercise of any or all Options held by the Optionee in the manner and on terms authorized by
the Board, provided that: 

  

	 	(a)	 any Options granted to any Optionee which are subject to Sections 8.02 and 8.03 shall expire at a time to be
determined by the Board following the applicable Termination Date; 

  

	 	(b)	 subject to an extension pursuant to Section 6.05, the Board will not, in any case, authorize the
exercise of an Option pursuant to this section beyond the Expiry Date of the particular Option; and 

  

	 	(c)	 the Board will not, in any case, authorize the exercise of any or all Options of the Optionee on a date that
is more than one (1) year after the earlier of: (i) the death of such Optionee; or (ii) the Termination Date. 

  

	9.	 OPTION PROCEDURE 

 

	9.1	 Option Commitment. Upon grant of an Option hereunder to an Optionee, a senior officer of
the Company designated by the Board will deliver to the Optionee an Option Agreement detailing the terms of the Option. Upon the occurrence of an event to which Subsections 10.02(a) and 10.02(b) applies, and upon the surrender by the Optionee
of the originally signed Option Agreement to which any Option relates, a senior officer of the Company designated by the Board may deliver to any Optionee with respect to any Option, a revised Option Agreement identified as such, with respect to
Shares as to which the Option has not been exercised, reflecting the application of Subsections 10.02(a) and 10.02(b), as applicable, by reason of that event. 

 

	9.2	 Manner of Exercise. Subject to the provisions of the Plan and the provisions of the Option
Agreement issued to an Optionee, Options shall be exercisable by the Holder by delivering a fully completed Exercise Form to the Company specifying the number of Options to be exercised accompanied by payment in full of the aggregate Exercise
Price therefor by cash payment, wire transfer or by certified cheque or bank draft payable to the Company (in each case in immediately available funds). The Exercise Form must be accompanied by: (a) the originally signed Option Agreement with
respect to the Option being exercised; and (b) documents containing such representations, warranties, agreements and undertakings, including such as to the Holder’s future dealings in such Shares, as counsel to the Company reasonably determines
to be necessary or advisable in order to comply with or safeguard against the violation of Applicable Securities Laws or similar laws of any jurisdiction. 

  

	9.3	 Tax Matters. Notwithstanding any other provision of this Plan, the Company’s obligation
to issue Shares to Holder pursuant to the exercise of an Option or otherwise pay an amount pursuant to the Plan or any Option shall be subject to the satisfaction of all federal, state, provincial, local and foreign tax obligations as may be
required by applicable law, including, but not limited to, obligations to make withholdings, deductions or remittances in respect of any taxable benefits of a Holder arising under this Plan or any Option (“tax withholding
obligations”) and the Company shall have the power and right to: 

  

	 	(a)	 deduct or withhold from all amounts payable to a Holder pursuant to this Plan, any Option, or otherwise in
the course of the employment of the Optionee in respect of the Option with the Company or its Subsidiary, and 

  

	 	(b)	 require the Holder to remit to the Company an amount sufficient to satisfy in full any tax withholding
obligations as may be imposed on the Company by applicable law. 

 Further, the Company may require the
Holder to satisfy, in whole or in part, such deduction or any tax withholding obligation by instructing the Company to withhold Shares that would otherwise have been received by the Holder upon exercise of any 

  
 vii 

 
Options, and sell such Shares by Company as a trustee on behalf of the Holder, and remit the proceeds of such sale to the relevant taxing authority in satisfaction of the tax or withholding
obligations. By participating in the Plan, the Participant consents to the foregoing and authorizes the Company or its Affiliate, as applicable, to effect the sale of such Shares on behalf of the Holder and to remit the proceeds of such sale to the
relevant taxing authority in satisfaction of the tax or withholding obligations. Neither the Company nor any applicable Affiliate shall be responsible for obtaining any particular price for the Shares nor shall the Company or any applicable
Affiliate be required to issue any Shares under the Plan unless the Holder has made suitable arrangements with the Company and any applicable Affiliate to fund any withholding obligation. 

 

	9.4	 Issuance of Shares. Subject to the provisions of the Plan and the provisions of the Option
Agreement issued to an Optionee, and upon the Company being satisfied that all of the conditions and requirements in this Article 9 have been fully met, the Holder shall be deemed to be a holder of record of the Shares to be issued pursuant to
an exercise of an Option, and thereafter the Company shall, within a reasonable amount of time, cause the transfer agent and registrar of the Shares to deliver to the Optionee a certificate or certificates or a statement of account, representing in
the aggregate the acquired Shares. Any certificate or certificates representing the Shares will bear any restrictive legend required by Applicable Securities Laws and as may apply under foreign securities laws including the applicable securities
laws of U.S. and state securities laws unless, in the written opinion of counsel for the Holder delivered to and for the benefit of the Company (which counsel shall be reasonably satisfactory to the Company), the Shares are not, at such time,
required by law to bear such legend. 

  

	10.	 CAPITAL ADJUSTMENTS AND OTHER TRANSACTIONS 

 

	10.1	 General. The existence of any Options does not affect in any way the right or power of the
Company or its shareholders to make, authorize or determine any adjustment, recapitalization, reorganization or any other change in the Company’s capital structure or its business, or any amalgamation, merger or consolidation involving the
Company, to create or issue any bonds, debentures, shares or other securities of the Company or to determine the rights and conditions attaching thereto, to effect the dissolution or liquidation of the Company or any sale or transfer of all or any
part of its assets or business, or to effect any other corporate act or proceeding, whether of a similar character or otherwise, whether or not any such action referred to in this section would have an adverse effect on the Plan or any Option
granted hereunder, subject to Subsections 10.02(a) and 10.02(b). 

  

	10.2	 Adjustment. In the event of:  

 

	 	(a)	 a subdivision, consolidation or reclassification of Shares or any similar capital reorganization, or any
other change to be made in the capitalization of the Company including an exchange of Shares for another security of the Company that, in the opinion of the Board, acting reasonably and in good faith, would warrant the replacement or amendment of
any existing Options in order to adjust: 

  

	 	(i)	 the number of Shares or other securities that may be acquired on the exercise of any outstanding Options; or

  

	 	(ii)	 the Exercise Price of any outstanding Options, 

 

	 	(b)	 in order to preserve proportionately the rights and obligations of the Optionees, the Board will authorize
such steps, subject to Regulatory Approval, if required, to be taken as are equitable and appropriate to that end, having regard to the availability of any deduction under the ITA to which the Optionee may be entitled. 

 

	 	(c)	 an amalgamation, combination, merger or other reorganization involving the Company, by exchange of shares,
by sale or lease of assets, or otherwise, that, in the opinion of the Board, acting reasonably and in good faith, warrants the replacement or amendment of any existing Options in order to adjust: 

 

	 	(i)	 the number of Shares or other securities that may be acquired on the exercise of any outstanding Options; or

  

	 	(ii)	 the Exercise Price of any outstanding Options, 

 

	 	(d)	 in order to preserve proportionately the rights and obligations of the Optionees, the Board will authorize
such steps, subject to Regulatory Approval, if required, to be taken as are equitable and appropriate to that end, having regard to the availability of any deduction under the ITA to which the Optionee may be entitled. 

Except as expressly provided in Subsections 10.02(a) and 10.02(b), neither the issue by the Company of shares of any class or
securities convertible into or exchangeable for shares of any class, nor the conversion or exchange of such shares or securities, affects, and no adjustment by reason thereof is to be made with respect to: (i) the number of Shares that may be
acquired on the exercise of any outstanding Options; or (ii) the Exercise Price of any outstanding Options. 
  

	10.3	 Fractional Shares. The Corporation will not be required to issue fractional Shares in
satisfaction of its obligations hereunder and any fractional interest in a Share that would, except for the provisions of this Section 10.03, be deliverable upon the exercise of an Option will be cancelled and not be deliverable by the
Company. 

  

	10.4	 Disputes. If any questions arise at any time with respect to the Exercise Price or number
of Optioned Shares or other securities deliverable upon exercise of an Option in any of the events set out in Subsections 10.02(a) and 10.02(b), such questions will be conclusively determined by the Company’s auditors, or, if they
decline to so act, any other firm of chartered accountants that the Company may designate and who will have access to all appropriate records and such determination will be binding upon the Company and all Optionees. 

 

	10.5	 Sale of Corporation, etc. If the Board at any time by resolution declares it advisable to do
so in connection with a Merger and 

  
 viii 

 
Acquisition Transaction, the Board has the right but not the obligation, and without the consent of any Optionee, to provide for the conversion, exchange, replacement or substitution of any
outstanding Options into or for options, rights or other securities of similar value of, or the assumption of outstanding Options by any entity or Affiliate participating in or resulting from a Merger and Acquisition Transaction. Any such
conversion, exchange, replacement, substitution or assumption shall be on such terms as the Board in good faith may consider fair and appropriate in the circumstances. In addition, and notwithstanding this Section 10.05, the Board has the right
but not the obligation, and without the consent of any Optionee, to determine, at its sole discretion, that: 
  

	 	(a)	 any or all Options shall thereupon terminate; provided that only such outstanding Options that have vested
shall remain exercisable until consummation of the Merger and Acquisition Transaction; or 

  

	 	(b)	 Options not exercisable may be exercisable in full provided, however, that were any vesting of Options is
required by Exchange Policy, written approval of the Exchange is first obtained. 

  

	10.6	 Change of Control. If the Board at any time by resolution declares it advisable to do so in
connection with a Change of Control, the Board has the right but not the obligation, and without the consent of any Optionee, to: 

  

	 	(a)	 within a specified period of time prior to the completion of the Change in Control as determined by the
Board but subject to and conditional upon the completion of the Change of Control, accelerate the dates upon which any or all outstanding Options shall vest and be exercisable or settled, without regard to whether such Options have otherwise vested
in accordance with their terms and provided, however, that were any vesting of Options is required by Exchange Policy, written approval of the Exchange is first obtained; 

 

	 	(b)	 permit each Optionee, within a specified period of time prior to the completion of the Change in Control as
determined by the Board but subject to and conditional upon the completion of the Change of Control, to exercise all of the Optionee’s outstanding Options; or 

 

	 	(c)	 subject to and conditional upon the completion of the Change of Control, deem the Plan and all outstanding
Options, vested and unvested, terminate, without further act or formality, except to the extent required as determined by the Board. 

The Optionee shall execute such documents and instruments and take such other actions, including exercise or settlement of
Options vesting pursuant to Subsection 10.06(a) or the Option Agreement, as may be required consistent with the foregoing; provided, however, that the exercise or settlement of Options vesting pursuant to Subsection 10.06(a) or the Option Agreement
shall be subject to the completion of the Change of Control event. In taking any of the actions contemplated by this Section 10.06, the Board shall not be obligated to treat all Options held by any Optionee, or all Options in general,
identically. 
  

	11.	 AMENDMENTS & TERMINATION OF PLAN 

 

	11.1	 Amendment of Option. Subject to Applicable Securities Law and Exchange Policy, the Board
may amend the terms of any Option granted in accordance with the Plan upon obtaining, if required, Regulatory Approval and shareholder approval (including Disinterested Shareholder Approval, as applicable) provided that: 

 

	 	(a)	 amendments to an Option to reduce the number of Shares under option; increase the Exercise Price; or cancel
an Option will not require Regulatory Approval or shareholder approval provided there is a public announcement outlining the terms of the amendment; 

  

	 	(b)	 no proposed amendment to an Option shall reduce the Exercise Price to an amount that is less than the
Discounted Market Price at the time the amendment becomes effective; 

  

	 	(c)	 if an amendment to an Option impairs such Option or is adverse to the Optionee thereof, the amendment shall
only be made effective after the written consent of the affected Optionee to such amendment is received; and 

  

	 	(d)	 *if the amendment of an Option requires Regulatory Approval and/or shareholder approval (including
Disinterested Shareholder Approval, as applicable), such amendment may be made prior to such approvals being given, but no such amended Options may be exercised unless and until such approvals are granted. 

 

	11.2	 Amendment of Plan. Subject to Applicable Securities Law and Exchange Policy, the Board may
amend the Plan, or any portion thereof, upon obtaining Regulatory Approval and, if required, shareholder approval (including Disinterested Shareholder Approval, as applicable) provided that amendments to the Plan to fix typographical errors and
amendments to clarify existing provisions of the Plan that do not have the effect of altering the scope, nature and intent of such provisions will not require shareholder approval. 

 

	11.3	 Termination of Plan. The Board may terminate the Plan at any time in its absolute discretion.
If the Plan is so terminated, no further Options shall be granted, but the Options then outstanding shall continue in full force and effect in accordance with the provisions of the Plan for the duration of such time as any Option remains
outstanding. 

  

	12.	 GENERAL PROVISIONS 

 

	12.1	 Effective Date and Approvals. This Plan was approved and adopted by the Board on
October 15, 2020 (the “Adoption Date”) and is and shall be effective and in full force and effect in accordance with its terms and conditions from and after such Adoption 

  
 ix 

	 	 
Date subject to Regulatory Approval and initial shareholder approval and thereafter annual shareholder approval (including Disinterested Shareholder Approval, as applicable) as required pursuant
to Applicable Securities Law and/or Exchange Policy. Any Options granted under the Plan prior to such approval shall be conditional upon such approval being given and no such Options may be exercised unless and until such approval have been obtained
or given. 

  

	12.2	 Rights as Shareholder. An Optionee has no rights whatsoever as a shareholder in respect of
any of the Optioned Shares (including, without limitation, any right to receive dividends or other distributions therefrom or thereon) other than in respect of Optioned Shares purchased by and fully paid for and issued to the Optionee on
exercise of the Option. 

  

	12.3	 Rights to Employment/Service. Nothing contained in the Plan will confer upon any Optionee
(or his Consulting Company) any right with respect to employment, term of office or consulting with the Company or a Subsidiary, or interfere in any way with the right of the Company to terminate the Optionee’s employment, term of office or
consulting arrangements (or those of his Consulting Company) at any time. 

  

	12.4	 No Listing Representation. The Company makes no representation or warranty as to whether it
will be successful in obtaining, or if applicable, maintaining, a listing for the Shares on any stock exchange or as to the future market value of the Shares issued on the exercise of any Option. 

 

	12.5	 Notice. Each notice, demand or communication required or permitted to be given under the
Plan (each, a “ Notice”) will be in writing and shall be given by personal delivery, facsimile transmission or by email, if to the Company, to or to the attention of the Corporate Secretary of the Company in each case at the
address, facsimile number or email address set forth on the Company’s website or at such other address as the Company may advise an Optionee of, in writing, as being the address for delivery of a Notice to the Company, and if to an Optionee, at
the most recent address, facsimile number or email address for the Optionee shown in the records of the Company. All such Notices given as aforesaid shall be deemed to have been given or made only at the time it is served by personal delivery upon
the Corporate Secretary or Optionee, as the case may be, or if sent by facsimile or email transmission, upon receipt of confirmation that such transmission has been received; provided that if such delivery or electronic communication is made on a
day which is a not a Business Day or later than 5:00 p.m. (Toronto time) on a day which is a Business Day, then such delivery or electronic communication shall be deemed to have been made on the subsequent day that is a Business Day.

  

	12.6	 Severability. To the extent a provision of the Plan requires Regulatory Approval or
shareholder approval which is not received, such provision shall be severed from the remainder of the Plan until the approval is received and the remainder of the Plan shall remain in full force and effect. If any provision of this Plan, or
the application thereof, is determined for any reason and to any extent to be invalid or unenforceable, the remainder of this Plan and the application of such provision to other persons and circumstances shall remain in full force and effect to the
fullest extent possible. 

  

	12.7	 Compliance with Law. Notwithstanding any other provision herein, the Company is not
obligated to grant any Options, issue any Shares or other securities, make any payments or take any other action if, in the opinion of the Board, on the advice of counsel for the Company, such action would require the filing and receipt of a
prospectus or require the filing of a registration statement or otherwise constitute a violation by an Optionee or the Company of Applicable Securities Laws or any provision of any applicable law, including any statutory or regulatory enactment of
any government or government agency. Optioned Shares shall not be issued with respect to an Option unless the exercise of such Option and the issuance and delivery of such Optioned Shares shall comply with all relevant provisions of law, including,
without limitation, Applicable Securities Laws or similar laws of any jurisdiction, and the requirements of the Exchange, and such issuance shall be further subject to the approval of counsel for the Company with respect to such compliance. The
inability of the Company to obtain from any regulatory body the authority deemed by the Company to be necessary for the lawful issuance and sale of any Optioned Shares under the Plan, or the inability of the Company to lawfully issue, sell, or
deliver any Optioned Shares, shall relieve the Company of any liability with respect to the non-issuance, sale or delivery of such Optioned Shares.  

 

	12.8	 Merger of Stock Option Plan Upon receipt of shareholder and Regulatory Approval of the Plan,
the Stock Option Plan of the Company entitled 10557404 Canada Corp. - 2018 Incentive Stock Option Plan (the “2018 Stock Option Plan”) shall be deemed to be merged herein, such that all options outstanding under the 2018 Stock
Option Plan shall be deemed to be outstanding under the Plan. 

  
 xEX-4.6

 Exhibit 4.6 

SKYLIGHT HEALTH GROUP INC. 

5045 Orbitor Drive, Building 11, Unit 300 

Mississauga, Ontario, L4W 4Y4 

NOTICE OF SPECIAL MEETING 

NOTICE IS HEREBY GIVEN THAT a special meeting of the shareholders of Skylight Health Group Inc. (the “Corporation”) will be
held virtually through the platform of AGM Connect to facilitate an interactive meeting and live online voting for Registered shareholders and duly appointed Proxyholders on Monday, February 22, 2021, at the hour of 9:00 a.m. (Eastern
Time). 
 The meeting can be accessed at www.agmconnect.com/skylight2021 

Business proposed to be addressed at the meeting is as follows: 
  

	1.	 To consider and, if thought fit, pass a special resolution to amend the articles of the Corporation to
consolidate the issued and outstanding common shares of the Corporation on the basis of one (1) post-consolidation Common Share for up to every five (5) currently outstanding Common Shares; 

 

	2.	 To consider and, if thought fit, pass a special resolution to approve amendments to the articles of the
Corporation to: (i) delete the existing class of preferred shares; (ii) remove restrictions on the transfer of its securities; and (iii) to permit the board of directors to appoint one or more directors, up to a maximum of one-third of the number of directors elected at a meeting of shareholders, to hold office for a term expiring not later than the close of the next annual meeting of shareholders of the Corporation; and

  

	3.	 To ratify the Corporation’s amended and restated By-Law 1.

 The accompanying information circular provides additional information relating to the matters to be dealt with at the
meeting and is deemed to form part of this notice. 
 If you are unable to attend the meeting in person, please complete, sign and date the
enclosed form of proxy or Voter Instruction Form and return the same in the enclosed return envelope provided for that purpose within the time and to the location set out in the form of proxy accompanying this notice. 

 

	
	DATED this 18th day of January 2021.
	
	BY ORDER OF THE BOARD
	    “signed”            
	Kashaf Qureshi
	President, CTO and Director

  
 1 

 MANAGEMENT INFORMATION CIRCULAR 

FOR THE SPECIAL MEETING OF SHAREHOLDERS 

TO BE HELD ON FEBRUARY 22, 2021 

This management information circular (this “Circular”) is being furnished in connection with the solicitation, by management
of Skylight Health Group Inc. (the “Corporation”), of proxies for the special meeting (the “Meeting”) of shareholders (the “Shareholders”) of the Corporation to be held virtually through the
platform of AGM Connect (www.agmconnect.com) to facilitate an interactive meeting and live online voting for Registered Shareholders on Monday, February 22, 2021 at 9:00am (Toronto time), and at any adjournment thereof for the purposes
set forth in the enclosed notice of meeting (the “Notice”). 
 Unless otherwise indicated, the information contained in
this Circular is given as at January 18, 2021. 
 Unless otherwise indicated, all references to “dollars” or “$”
means Canadian dollars. 
 SOLICITATION OF PROXIES 

Although, it is expected that management’s solicitation of proxies for the Meeting will be made primarily by mail, proxies may be
solicited by directors, officers and employees of the Corporation personally or by telephone, fax, email or other similar means of communication. This solicitation of proxies for the Meeting is being made by or on behalf of the directors and
management of the Corporation and the Corporation will bear the costs of this solicitation of proxies for the Meeting. 
 In accordance
with National Instrument 54-101 – Communication with Beneficial Owners of Securities of a Reporting Issuer (“NI 54-101”),
arrangements have been made with the transfer agent, investment dealers, intermediaries, custodians, depositories and depository participants and other nominees to forward solicitation materials to the beneficial owners of the common shares (the
“Shares”) of the Corporation. The Corporation will provide, without any cost to such person, upon request to the Chief Executive Officer of the Corporation, additional copies of the foregoing documents for this purpose. 

REGISTERED SHAREHOLDERS VOTING BY PROXY 

Enclosed with this Circular is a form of proxy. The persons named in the enclosed form of proxy are officers and/or directors of the
Corporation. Every Shareholder of the Corporation has the right to appoint a person (who need not be a shareholder of the Corporation) other than the persons already named in the enclosed form of proxy to represent such shareholder of the
Corporation at the virtual Meeting by striking out the printed names of such persons and inserting the name of such other person AND an email address for contact in the blank space provided therein for that purpose. In order to be valid, a proxy
must be received by Capital Transfer Agency Inc., 390 Bay Street, Suite 920, Toronto, Ontario, M5H 2Y2 by 9:00 am on February 18, 2021, or in the event of an adjournment or postponement of the Meeting, no later than forty-eight (48) hours
(excluding Saturdays, Sundays and holidays in Ontario) before the time for holding the adjourned or postponed Meeting. 
 Shareholders may
also elect to vote electronically in respect of any matter to be acted upon at the Meeting. Votes cast electronically are in all respects equivalent to and will be treated in the exact same manner as, votes cast via a paper form of proxy. To vote
electronically, registered shareholders are asked to go to the website shown on the form of proxy and follow the instructions on the screen. Please note that each shareholder exercising the electronic voting option will need to refer to the control
number indicated on their proxy form to identify themselves in the electronic voting system. Shareholders should also refer to the instructions on the proxy form for information regarding the deadline for voting shares electronically. If a
Shareholder votes electronically he or she is asked not to return the paper form of proxy by mail. 
 In order to be effective, a form of
proxy must be executed by a shareholder exactly as his or her name appears on the register of shareholders of the Corporation. Additional execution instructions are set out in the notes to the form of proxy. The proxy must also be dated where
indicated. If the date is not completed, the proxy will be deemed 

  
 2 

 
to be dated on the day on which it was mailed to shareholders. 
 The management
representatives designated in the enclosed form of proxy will vote the Shares in respect of which they are appointed proxy in accordance with the instructions of the shareholder as indicated on the proxy and, if the shareholder specifies a choice
with respect to any matter to be acted upon, the Shares will be voted accordingly. In the absence of such direction, such Shares will be voted by the management representatives named in such form of proxy in favour of each of the matters referred
to in the Notice and will be voted by such representatives on all other matters which may come before the Meeting in their discretion. 

THE ENCLOSED FORM OF PROXY OR VOTER INSTRUCTION FORM, WHEN PROPERLY SIGNED, CONFERS DISCRETIONARY VOTING AUTHORITY ON THOSE PERSONS
DESIGNATED THEREIN WITH RESPECT TO AMENDMENTS OR VARIATIONS TO THE MATTERS IDENTIFIED IN THE NOTICE AND WITH RESPECT TO OTHER MATTERS WHICH MAY PROPERLY COME BEFORE THE MEETING. 

At the time of printing of this Circular, management of the Corporation know of no such amendment, variation or other matters to come before
the Meeting other than the matters referred to in the Notice and this Circular. However, if any matters which are not now known to management of the Corporation should properly come before the Meeting, the Shares represented by proxies in favour
of the Management Nominees will be voted on such matters in accordance with the best judgement of the Management Nominee. 
 VOTE
USING THE FOLLOWING METHODS PRIOR TO THE MEETING 
  

					
		  	 IF YOU HAVE RECEIVED A PROXY FORM
WITH A 12-DIGIT CONTROL NUMBER FROM CAPITAL TRANSFER AGENCY
  
	  	
IF YOU HAVE RECEIVED A VOTER INSTRUCTION FORM (VIF)

WITH A 16-DIGIT CONTROL NUMBER FROM AN INTERMEDIARY

	 	 	 
	Voting Method	  	 YOU ARE A Registered Shareholder
If your securities are
held in your name and represented by a physical certificate or DRS statement
  
	  	YOU ARE A Non-Registered Shareholder
If your shares are
held with a broker, bank or other intermediary.
	 	 	 
	 	  	Go to	  	 
	 	 	 
	Internet	  	 www.capitaltransferagency.com/voteproxy

Enter the 12-digit control number printed on the form of proxy and follow the instructions on screen

 
	  	 Go to
www.proxyvote.com
 Enter the 16- digit control number printed on the VIF and follow the
instructions on screen

	 	 	 
	Telephone/Fax	  	 Call Capital Transfer Agency at 1-416-350-5007 Or by Fax to +1.416.350.5008
  
	  	N/A
	 	 	 
	Mail	  	 Enter your voting instructions, sign and date the Proxy Form, and return to Capital
Transfer in the enclosed addressed envelope.
  
	  	Enter your voting instructions, sign and date the VIF, and return completed VIF in the enclosed envelope.

  
 3 

 ATTENDING THE MEETING – FEBRUARY 22, 2021 

 

					
		 	 IF YOU HAVE RECEIVED A PROXY
FORM WITH A 12-DIGIT CONTROL NUMBER FROM CAPITAL TRANSFER AGENCY
  
	  	
IF YOU HAVE RECEIVED A VOTER INSTRUCTION FORM (VIF)

WITH A 16-DIGIT CONTROL NUMBER FROM AN INTERMEDIARY

		 	 
		 	 YOU ARE A Registered Shareholder

(your securities are held in your name and represented by a physical certificate or DRS statement)

 
	  	
YOU ARE A Non-Registered Shareholder

(your shares are held with a broker, bank or other intermediary.)

	 	 	 
		 		  	 Appoint yourself as
proxyholder as instructed herein and on the VIF
  

		 	 
	PRIOR TO THE MEETING	 	Follow the instructions on the personalized Virtual(AGM) Information Sheet included with your AGM materials	  	 AFTER submitting your proxy
appointment, you MUST contact AGM Connect to obtain an AGM Connect Voter ID and Meeting Access Code by calling 1.416.222.4202 or by email to info@agmconnect.com

 

		 	 
	 JOINING THE  VIRTUAL MEETING 

(at least 15 minutes prior to start of the Meeting)
	 	 Register and login at http://app.agmconnect.com. You will need to provide
your email address, your AGM Connect Voter ID and a Meeting Access Code See accompanying Virtual(AGM) Information Sheet for more Information

 
	  	 Register and login at
http://app.agmconnect.com. You will need to provide your email address, an AGM Connect Voter ID and a Meeting Access Code See accompanying Virtual(AGM) Information Sheet for more Information.

 

 ADVICE TO NON-REGISTERED SHAREHOLDERS 

Only Registered shareholders of the Corporation, or the persons they appoint as their proxies, are entitled to attend and vote at the Meeting.
However, in many cases, Shares beneficially owned by a person (a “Non-Registered Shareholder”) are registered either: 
  

	 	(a)	 in the name of an intermediary (an “Intermediary”) with whom the Non-Registered Shareholder deals in respect of the Shares (Intermediaries include, among others, banks, trust companies, investment dealers or brokers, trustees or administrators of a self-administered registered
retirement savings plan, registered retirement income fund, registered education savings plan and similar plans); or 

  

	 	(b)	 in the name of a clearing agency (such as The Canadian Depository for Securities Limited, in Canada, and the
Depositary Trust Company, in the United States) of which the Intermediary is a participant. 

 In accordance with the
requirements of NI 54-101, the Corporation has distributed copies of the Notice, this Circular and its form of proxy (collectively, the “Meeting Materials”) to the Intermediaries and clearing
agencies for onward distribution to Non-Registered Shareholders. Intermediaries are required to forward the Meeting Materials to Non-Registered Shareholders unless the Non-Registered Shareholders have waived the right to receive them. Intermediaries often use service companies to forward the Meeting Materials to Non-Registered Shareholders.
Generally, Non-Registered Shareholders who have not waived the right to receive Meeting Materials will either: 

  
 4 

	 	(a)	 be given a voting instruction form which must be completed and returned by the Non-Registered Shareholder in accordance with the directions printed on the form (in some cases, the completion of the voting instruction form by telephone, facsimile or over the Internet is permitted) or

  

	 	(b)	 be given a form of proxy which has already been signed by the Intermediary (typically by a facsimile,
stamped signature), which is restricted as to the number of Shares beneficially owned by the Non-Registered Shareholder, but which is otherwise not completed by the Intermediary. Because the Intermediary has
already signed the form of proxy, this form of proxy is not required to be signed by the Non-Registered Shareholder when submitting the proxy. In this case, the
Non-Registered Shareholder who wishes to submit a proxy should properly complete the form of proxy and deposit it with Capital Transfer Agency Inc., 390 Bay Street, Suite 920, Toronto, Ontario, M5H 2Y2.

 In either case, the purpose of these procedures is to permit Non-Registered
Shareholders to direct the voting of the Shares they beneficially own. Should a Non-Registered Shareholder who receives either a voting instruction form or a form of proxy wish to attend the Meeting and vote
in person (or have another person attend and vote on behalf of the Non-Registered Shareholder), the Non-Registered Shareholder should strike out the names of the persons
named in the form of proxy and insert the Non-Registered Shareholder’s (or such other person’s) name in the blank space provided or, in the case of a voting instruction form, follow the directions
indicated on the form. If you are a Non-Registered Shareholder, and we or our agent has sent these materials directly to you, your name and address and information about your holdings of securities have been
obtained in accordance with applicable securities regulatory requirements from the Intermediary holding on your behalf. In either case, Non-Registered Shareholders should carefully follow the instructions
of their Intermediaries and their service companies, including those regarding when and where the VIF or the proxy is to be delivered. 

REVOCATION OF PROXIES 
 A
registered shareholder of the Corporation who has submitted a proxy may revoke it by: 
  

	 	(a)	 depositing an instrument in writing signed by the registered shareholder or by an attorney authorized in
writing or, if the registered shareholder is a corporation, by a duly authorized officer or attorney, either: 

  

	 	(i)	 at the office of Capital Transfer, 390 Bay Street, Suite 920, Toronto, Ontario, M5H 2Y2 Corporation, by
9:00am on February 18, 2021 or in the event of an adjournment or postponement of the Meeting, no later than 48 hours (excluding Saturday, Sunday and holidays in Ontario) before the time for holding the adjournment or postponement Meeting; or

  

	 	(ii)	 with the Chairman of the Meeting prior to the commencement of the Meeting on the day of the Meeting;

  

	 	(b)	 transmitting, by telephonic or electronic means, a revocation that complies with (i) or (ii) above and
that is signed by electronic signature provided that the means of electronic signature permit a reliable determination that the document was created or communicated by or on behalf of the registered shareholder or the attorney, as the case may be;
or 

  

	 	(c)	 in any other manner permitted by law. 

A Non-Registered Shareholder who has submitted voting instructions to an Intermediary should contact
their Intermediary for information with respect to revoking their voting instructions. 
 NOTICE-AND-ACCESS 
 The Corporation is not sending the Meeting materials to shareholders using
“notice-and-access”, as defined under NI 54-101. 

  
 5 

 OBTAINING PAPER COPIES OF MATERIALS 

The Corporation anticipates that using notice-and-access for
delivery to all Shareholders will directly benefit the Corporation through a substantial reduction in both postage and material costs, and also promote environmental responsibility by decreasing the large volume of paper documents generated by
printing proxy-related materials. Shareholders with questions about notice-and-access can call the Corporation’s transfer agent Capital Transfer Agency ULC.
(“Capital Transfer”) toll-free at 1-844-499-4482. Shareholders may also obtain paper copies of the Circular free
of charge by contacting Capital Transfer at the same toll-free number or upon request to the Corporation’s Corporate Secretary. A request for paper copies which are required in advance of the Meeting should be sent so that they are received by
the Corporation or Capital Transfer, as applicable, by February 8, 2021 in order to allow sufficient time for Shareholders to receive the paper copies and to return their proxies or voting instruction forms to intermediaries not later than 48
hours (excluding Saturdays, Sundays and statutory holidays in the City of Toronto, Ontario) prior to the time set for the Meeting or any adjournments or postponements thereof (the “Proxy Deadline”). 

SHAREHOLDERS ARE REMINDED TO REVIEW THE CIRCULAR BEFORE VOTING. 

INTEREST OF CERTAIN PERSONS IN MATTERS TO BE ACTED UPON 

No person who has been a director or an officer of the Corporation at any time since the beginning of its last completed financial year or any
associate of any such director or officer has any material interest, direct or indirect, by way of beneficial ownership of securities or otherwise, in any matter to be acted upon at the meeting, except as disclosed in this Circular. 

VOTING SECURITIES AND PRINCIPAL HOLDERS OF VOTING SECURITIES 

The Corporation is authorized to issue an unlimited number of Shares. Each Share entitles the holder of record to notice of and one vote on
all matters to come before the Meeting. No group of shareholders has the right to elect a specified number of directors nor are there cumulative or similar voting rights attached to the Shares of the Corporation. 

The directors of the Corporation have fixed January 18, 2021 as the record date (the “Record Date”) for determination of
the persons entitled to receive notice of the Meeting. Shareholders of record as of the Record Date are entitled to vote their Shares except to the extent that they have transferred the ownership of any of their Shares after the Record Date, and the
transferees of those Shares produce properly endorsed share certificates or otherwise establish that they own the Shares, and demand, not later than ten (10) days before the Meeting, that their name be included in the shareholder list before
the Meeting, in which case the transferees are entitled to vote their Shares at the Meeting. 
 As of the date of this Circular, 175,442,611
Shares are issued and outstanding. 
 To the knowledge of the directors and officers of the Corporation, as of the date of this Circular, no
person or company beneficially owned, directly or indirectly, or exercised control or direction over, voting shares of the Corporation carrying more than ten percent (10%) of the voting rights attached to all shares of the Corporation, except as
follows: 
  

									
	 Shareholder
	  	Number of
Securities	 	  	Percentage of Common
Shares	 
	 Merida Capital Partners II LP, Merida Capital Partners III LP, Merida Capital Partners III QP
LP
	  	 	26,243,945	 	  	 	14.96	% 

  
 6 

 PARTICULARS OF MATTERS TO BE ACTED UPON 

To the knowledge of the Corporation’s directors, the only matters to be placed before the Meeting are those set forth in the accompanying
Notice of Meeting relating to the consolidation of the Corporation’s common shares. 
  

	 	1.	 Share Consolidation 

The Board of Directors of the Corporation (the “Board”) has proposed the submission to Shareholders for consideration of a
special resolution approving the consolidation of the Corporation’s issued and outstanding Common Shares (the “Consolidation Resolution”). If the Consolidation Resolution is approved, the Board will have authority to
consolidate the Common Shares at a ratio of up to five (5) to one (1) (the “Consolidation”). The Board will be permitted without further shareholder approval to select a lower consolidation ratio if it deems appropriate.
Approval of the Consolidation by the shareholders would give the Board authority to implement the Consolidation at any time. As at the date hereof, assuming the shareholders approve the Consolidation, the Board intends to implement the Consolidation
as soon as reasonably practical following the Meeting, subject to the approval of the TSX Venture Exchange (the “TSXV”). In addition, notwithstanding approval of the Consolidation by the shareholders, the Board, in its sole
discretion, may revoke the Consolidation Resolution and abandon the Consolidation without further approval, action by, or prior notice to Shareholders. 

Background and Reasons for Consolidation 

The Corporation has applied to list on the NASDAQ in the United States. One of the conditions for listing on the NASDAQ is that the Corporation
have a share price in excess of US$3.00. The Consolidation is being undertaken to meet that requirement. 
 Accordingly, shareholders will
be asked to approve the Consolidation Resolution to consolidate the issued and outstanding Common Shares of the Corporation on the basis of one (1) new Common Share for up to five (5) old Common Shares. The Consolidation Resolution will
also grant the Board the authority to: (i) use their discretion to adjust the consolidation ratio, (ii) use their discretion with respect to the timing to implement the Consolidation Resolution, and (iii) use their discretion to
revoke the Consolidation Resolution. 
 Principal Effects of the Share Consolidation 

If approved and implemented, the Consolidation will occur simultaneously for all of the Common Shares and the Consolidation ratio will apply
equally for all such Common Shares. The Consolidation will affect all holders of the Corporation’s Common Shares uniformly. In addition, there may be a minimal effect on a Shareholder’s percentage ownership interest in the Corporation
resulting from the proposed treatment of fractional Common Shares (see “Effect on Fractional Shares”). No fractional Common Share will be issued in connection with the Consolidation. Each Common Share outstanding
post-Consolidation will be entitled to one vote and will be fully paid and non-assessable. 
 The
principal effects of the Consolidation will be that: 
 the number of Common Shares of the Corporation issued and outstanding will be
reduced from 175,442,611 Common Shares as of the date hereof to approximately 35,088522 Common Shares if the maximum consolidation ratio of five (5) to one (1) is used; and 

 

	(a)	 the exercise or conversion price and/or the number of Common Shares issuable under any of the
Corporation’s outstanding convertible securities, stock options and warrants will be proportionally adjusted upon the Consolidation based on the Consolidation ratio. 

Effect on Fractional Shares 
 No
fractional Common Shares will be issued if, as a result of the Consolidation, a shareholder would otherwise be entitled to a fractional Common Share. Instead, if, as a result of the Consolidation, a Shareholder is entitled to a fractional Common
Share, such fractional Common Share that is less than 1⁄2 of one (1) post-Consolidation 

  
 7 

 
Common Share will be cancelled and each fractional Common Share that is at least 1⁄2 of one
(1) post-Consolidation Common Share will be rounded up to one (1) whole post-Consolidation Common Share. 
 Effect on Non-Registered Holders 
 Non-Registered Holders holding their
Common Shares through an Intermediary should note that such Intermediary may have different procedures for processing the Consolidation than those that will be put in place by the Corporation for registered shareholders. If you are a Non-Registered Holder and you have questions or concerns in this regard, you are encouraged to contact your Intermediary. 

Effect on Convertible Securities and Stock Options 

The exercise or conversion price and/or the number of Common Shares issuable under any outstanding convertible securities and outstanding stock
options will be proportionally adjusted upon the implementation of the Consolidation, in accordance with the terms of such securities, based on the Consolidation ratio. 

Effect on Common Shares Held in Book-Entry Form 

Certain Non-Registered Holders may own Common Shares in book-entry form.
Non-Registered Holders will not have share certificates evidencing their ownership of such Common Shares and therefore do not need to take any additional actions to exchange their pre-Consolidation book-entry Common Shares, if any, for post-Consolidation Common Shares. Upon the effective date of the Consolidation, each then existing book-entry account will be adjusted to reflect the number of
post-Consolidation Common Shares to which the Non-Registered Holder is entitled in accordance with the Consolidation ratio. 

Letter of Transmittal for Registered Shareholders] 

Registered shareholders will have received a Letter of Transmittal with their proxy materials which provides detailed instructions for the
exchange of share certificates. The transfer agent will send to each registered shareholder who has sent the required documents a new share certificate representing the number of post-Consolidation Common Shares to which the shareholder is entitled.
Until surrendered, each share certificate representing pre-Consolidation Common Shares will be deemed for all purposes to represent the number of whole post-Consolidation Common Shares to which the holder is
entitled as a result of the Consolidation. If a registered shareholder would otherwise be entitled to receive a fractional share, such fractional share shall be treated in the manner described above. Registered Shareholders should delay sending in
the Letter of Transmittal until the Consolidation Resolution has been approved and the Corporation announces the Consolidation has occurred. 
 No
Dissent Right 
 Under the Canada Business Corporations Act (the “CBCA”), Shareholders do not have dissent or
appraisal rights with respect to the Consolidation. 
 Resolution for Approving the Consolidation 

Upon approval of the Consolidation Resolution, following the obtaining of all necessary regulatory approvals, including the acceptance of TSXV,
the Corporation will promptly file articles of amendment with the required entity under the CBCA in the form prescribed by the CBCA to amend the Corporation’s articles of incorporation. The Consolidation will become effective on the date shown
in the certificate of amendment in connection therewith, or such other date as indicated in the articles of amendment. 
 The text of the
Consolidation Resolution is as follows: 
 “BE IT RESOLVED AS A SPECIAL RESOLUTION THAT: 

  
 8 

	1.	 the Corporation be, and it hereby is, authorized and empowered to file articles of amendment with the
Director appointed under section 173 of the CBCA at any time after the date of this Amendment Resolution to amend the articles of the Corporation to consolidation the issued and outstanding shares in the capital of the Corporation on the basis of
one (1) post-Consolidation Common Share for up to every five (5) Common Shares currently issued and outstanding and the directors of the Corporation are hereby authorized to select a lesser consolidation ratio at their sole discretion;

  

	2.	 no fractional shares shall be issued upon the consolidation, each fractional Common Share that is less than 1⁄2 of one (1) post-Consolidation Common Share will be cancelled and each fractional Common Share that is at least 1⁄2 of one (1) post-Consolidation Common Share will be rounded up to one (1) whole post-Consolidation Common Share; 

 

	3.	 notwithstanding the approval of holders of the Common Shares of the Corporation to the above resolutions,
the Board may revoke the foregoing resolutions before they are acted on without any further approval by the persons eligible to vote on this Consolidation Resolution at the Meeting; 

 

	4.	 the effective date of such consolidation shall be the date shown in the certificate of amendment; and

  

	5.	 any of the officers or directors of the Corporation be and are hereby authorized for and on behalf of the
Corporation (whether under its corporate seal or otherwise) to execute and deliver articles of amendment to effect the foregoing resolutions with the required entity and all other documents and instruments and to take all such other actions as such
officer or director may deem necessary or desirable to implement the foregoing resolutions and the matters authorized hereby, such determinations to be conclusively evidenced by the execution and delivery of such documents and other instruments or
the taking of any such action.” 

 Approval of the Consolidation Resolution shall require the affirmative vote of two-thirds of the votes cast on the Consolidation Resolution at the Meeting, whether in person or by proxy. 

THE BOARD UNANIMOUSLY RECOMMENDS THAT SHAREHOLDERS VOTE FOR THE CONSOLIDATION RESOLUTION. UNLESS A PROXY CONTAINS INSTRUCTIONS ON HOW YOU
WOULD LIKE YOUR COMMON SHARES VOTED AT THE MEETING, THE PERSONS NAMED IN THE ENCLOSED PROXY INTEND TO VOTE FOR THE APPROVAL OF THE CONSOLIDATION RESOLUTION. 
  

	 	2.	 Approval of Additional Amendments to the Company’s Articles 

At the Meeting, Shareholders will be asked to consider and, if deemed advisable, approve, a special resolution (the “Amendment
Resolution”), authorizing, an amendment to the Articles to: (i) delete the existing class of preferred shares; (ii) remove the current restrictions on the ability of shareholders to transfer their Shares and; (iii) to allow
the Board to appoint one or more additional directors up to a maximum of one-third of the number of directors elected at a meeting of shareholders to hold office for a term expiring not later than the close of
the next annual meeting of shareholders of the Company. 
 Section 106(8) of the CBCA allows the directors of a corporation to, if the
articles of such corporation so provide, appoint one or more additional directors between annual meetings of shareholders, who shall hold office for a term expiring not later than the close of the next annual meeting of shareholders, however, the
total number of directors so appointed may not exceed one-third of the number of directors elected at the previous annual meeting of shareholders. From time to time, the Board may identify an individual who
could make a valuable contribution to the Corporation as a director. It will be beneficial for the Corporation if the Board possesses the ability to appoint such an individual as a director between annual meetings of shareholders, increasing the
total number of directors of the Corporation. The Board will not be obligated to make additional appointments to the Board during the year, but will be able to make such appointments without obtaining additional Shareholder approval. In addition,
the Corporation wishes to clean up its articles by deleting the existing class of preferred shares which were created solely for a prior transaction and to remove provisions that are no longer applicable. 

  
 9 

 Accordingly, at the Meeting, Shareholders will be asked to consider and if deemed advisable,
to pass, with or without variation the following special resolution permitting the Board to: (i) delete the existing class of preferred shares; (ii) remove the restrictions on transfer in the articles; and (ii) to appoint one or more
directors up to a maximum of one-third of the number of directors elected at a meeting of shareholders, to hold office for a term expiring no later than the close of the next annual meeting of Shareholders.

 The text of the Amendment Resolution is as follows 

“BE IT RESOLVED AS A SPECIAL RESOLUTION THAT: 
  

	1.	 the Corporation be, and it hereby is, authorized and empowered to file articles of amendment with the
Director appointed under section 173 of the CBCA at any time after the date of this Amendment Resolution to amend the articles of the Corporation to amend the text of Section 3 to remove all references to the First Preferred Series A Shares;

  

	2.	 the Corporation be, and it hereby is, authorized and empowered to file articles of amendment with the
Director appointed under section 173 of the CBCA at any time after the date of this Amendment Resolution to amend the articles of the Corporation to remove the text from Section 4 and replace it with “none”; 

 

	3.	 the Corporation be, and it hereby is, authorized and empowered to file articles of amendment with the
Director appointed under section 173 of the CBCA at any time after the date of this Amendment Resolution to amend the articles of the Corporation to allow the directors to appoint, without shareholder approval, and in accordance with section 106(8)
of the CBCA, one or more additional directors, who shall hold office for a term expiring not later than the close of the next annual meeting of shareholders, with the total number of additional directors so appointed not exceeding one-third of the number of directors elected at the previous annual meeting of shareholders; and 

  

	4.	 any of the officers or directors of the Corporation be and are hereby authorized for and on behalf of the
Corporation (whether under its corporate seal or otherwise) to execute and deliver articles of amendment to effect the foregoing resolutions with the required entity and all other documents and instruments and to take all such other actions as such
officer or director may deem necessary or desirable to implement the foregoing resolutions and the matters authorized hereby, such determinations to be conclusively evidenced by the execution and delivery of such documents and other instruments or
the taking of any such action.” 

 Approval of the Amendment Resolution shall require the affirmative vote of two-thirds of the votes cast on the Amendment Resolution at the Meeting, whether in person or by proxy. 

THE BOARD UNANIMOUSLY RECOMMENDS THAT SHAREHOLDERS VOTE FOR THE AMENDMENT RESOLUTION. UNLESS A PROXY CONTAINS INSTRUCTIONS ON HOW YOU WOULD
LIKE YOUR COMMON SHARES VOTED AT THE MEETING, THE PERSONS NAMED IN THE ENCLOSED PROXY INTEND TO VOTE FOR THE APPROVAL OF THE AMENDMENT RESOLUTION. 
  

	 	3.	 Approval of the Amended and Restated By-Law No.1

 The Corporation’s by-laws have been amended (“Amended and
Restated By-Law No. 1”), subject to ratification by the Corporation’s Shareholders, to include (i) provisions providing for the ability of the Corporation to conduct virtual shareholder
meetings, (ii) reducing the quorum for a meeting of shareholders to two shareholders in person or by proxy and (ii) a provision that requires advance notice be given to the Corporation in circumstances where nomination of persons for
election to the Board are made by Shareholders (the “Advance Notice Provisions”). The Advance Notice Provisions set a deadline by which Shareholders must submit nominations (a “Notice”) for the election of directors to the
Corporation prior to any annual meeting of Shareholders. In the case of an annual meeting of Shareholders, a Notice must be provided to the Corporation not less than 30 days and not more than 65 days prior to the date of the annual meeting, provided
that if the annual meeting of Shareholders is called for 

  
 10 

 
a date that is less than 50 days after the date (the “Notice Date”) on which the first public announcement of the date of the annual meeting was made, the Notice must be given no
later than the close of business on the tenth day following the Notice Date, and in the case of a special meeting of Shareholders called for the purpose of electing directors, not later than the close of business on the fifteenth day following the
Notice Date. 
 At the Meeting, Shareholders will be asked to consider, and, if deemed appropriate, pass, with or without resolution, An
ordinary resolution (the “By-Law Resolution”), the full text of which is set out below, subject to such amendments, variations or additions as may be approved at the Meeting, approving and
ratifying the Amended and Restated By-Law No. 1. The resolution to ratify and confirm the Amended and Restated By-Law No. 1, which requires a simple majority
vote to be approved, is as follows: 
 BE IT RESOLVED THAT: 
  

	1.	 the Amended and Restated By-Law No. 1, in the form attached as
Schedule “A” to the Information Circular, is approved, ratified, confirmed and adopted as the by-law Corporation; and 

 

	2.	 any one or more directors or officers of the Corporation are hereby authorized, for and on behalf of the
Corporation, to take, or cause to be taken, any and all such acts and things and to execute and deliver, under the corporate seal of the Corporation or otherwise, all such deeds, instruments, notices, consents, acknowledgments, certificates,
assurances and other documents (including any documents required under applicable laws or regulatory policies) as any such director or officer in his or her sole discretion may determine to be necessary or desirable to give effect to the foregoing
resolution, such determination to be conclusively evidenced by the taking of any such action or such director’s or officer’s execution and delivery of any such deed, instrument, notice, consent, acknowledgement, certificate, assurance or
other document. 

 Approval of the By-Law Resolution shall require the
affirmative vote of a majority of the votes cast on the By-Law Resolution at the Meeting, whether in person or by proxy. 

THE BOARD UNANIMOUSLY RECOMMENDS THAT SHAREHOLDERS VOTE FOR THE BY-LAW OPTION PLAN RESOLUTION.
UNLESS A PROXY CONTAINS INSTRUCTIONS ON HOW YOU WOULD LIKE YOUR COMMON SHARES VOTED AT THE MEETING, THE PERSONS NAMED IN THE ENCLOSED PROXY INTEND TO VOTE FOR THE APPROVAL OF THE BY-LAW RESOLUTION. 

INTEREST OF INFORMED PERSONS IN MATERIAL TRANSACTIONS 

Management of the Corporation is not aware of any material interests, direct or indirect, of any informed person of the Corporation, any
proposed director of the Corporation, or any associate or affiliate of any informed person or proposed director, in any transaction since the commencement of the Corporation’s most recently completed financial year or in any proposed
transaction which has materially affected or would materially affect the Corporation or any of its subsidiaries. 
 OTHER BUSINESS

 Management of the Corporation is not aware of any matters to come before the meeting other than those set out in the Notice of
Meeting. If other matters come before the Meeting it is the intention of the individuals indicated in the form of proxy to vote the same in accordance with their best judgment in such matters. 

ADDITIONAL INFORMATION 

Additional information relating to the Corporation is available on SEDAR at www.sedar.com. 

  
 11 

 APPROVAL OF BOARD OF DIRECTORS 

The contents of this Circular, and the sending thereof to each director of the Corporation, to the auditor of the Corporation and to the
shareholders of the Corporation has been approved by the Board. 
 DATED at the City of Toronto, in the Province of Ontario, this
18th day of January 2021. 
  

	
	“signed”
	Kashaf Qureshi
	President and Director

  
 12 

 SCHEDULE “A” 

By-Law No. 1 

AMENDED AND RESTATED BY-LAW NO.1 

A by-law relating generally to the conduct of the affairs of SKYLIGHT HEALTH GROUP INC. BE IT ENACTED
AND IT IS HEREBY ENACTED as Amended and Restated by-law No. 1 of SKYLIGHT HEALTH GROUP INC. (hereinafter called the “Corporation”) as follows: 

ARTICLE 1 

INTERPRETATION 
  

	1.1	 Definitions. 

In this by-law and all other by-laws of the Corporation, unless
the context otherwise specifies or requires: 
  

	 	(a)	 “Act” means the Canada Business Corporations Act, R.S.C., 1985, c. C-44, as from time to time amended, and every statute that may be substituted therefor and, in the case of such amendment or substitution, any reference in the by-laws of the
Corporation shall be read as referring to the amended or substituted provisions therefore; 

  

	 	(b)	 “board” means the board of directors of the Corporation; 

 

	 	(c)	 “by-laws” means this amended and restated by-law no.1 and all other by-laws of the Corporation from time to time in force and effect; 

 

	 	(d)	 “meeting of shareholders” includes an annual meeting of shareholders and a special meeting
of shareholders; 

  

	 	(e)	 “non-business day” means Saturday, Sunday and any
other day that is a holiday as defined in the Interpretation Act (Canada); 

  

	 	(f)	 “recorded address” means in the case of a shareholder, his address as recorded in the
securities register; and in the case of joint shareholders, the address appearing in the securities register in respect of such joint holding, or the first address so appearing if there are more than one; and in the case of a director, officer,
auditor or member of a committee of the board, his latest address as recorded in the records of the Corporation; 

  

	 	(g)	 “signing officer” means, in relation to any instrument, any person authorized to sign the
same on behalf of the Corporation by Section 2.4 or by a resolution passed pursuant thereto; 

  

	 	(h)	 “special meeting of shareholders” includes a meeting of any class or classes of
shareholders, and means a special meeting of all shareholders entitled to vote at an annual meeting of shareholders; 

  

	 	(i)	 all terms contained in the by-laws which are defined in the Act
shall have the meanings given to such terms in the Act; 

  

	 	(j)	 words importing the singular number only shall include the plural and vice-versa; words importing the
masculine gender shall include the feminine and neuter genders; words importing persons shall include bodies corporate, partnerships, syndicates, trusts and any number or aggregate of persons; and 

 

	 	(k)	 the headings used in the by-laws are inserted for reference purposes
only, and are not to be considered or taken into account in construing the terms or provisions thereof, or to be deemed in any way to clarify, modify or explain the effect of any such terms or provisions. 

ARTICLE 2 
 BUSINESS OF
THE CORPORATION 
  

	2.1	 Registered Office 

  
 13 

 Unless changed in accordance with the Act, the registered office of the Corporation shall be at the place
within Canada from time to time specified in the articles and at such address therein as the directors may from time to time determine. 
  

	2.2	 Corporate Seal 

The corporate seal of the Corporation shall be in such form as the directors may by resolution adopt from time to time. 

 

	2.3	 Financial Year 

The first financial period of the Corporation and thereafter the fiscal year of the Corporation shall terminate on such date as the directors may by resolution
determine. 
  

	2.4	 Execution of Contracts, Etc. 

Subject to Section 2.6, contracts, documents or instruments in writing requiring the signature of the Corporation may be signed on behalf of the
Corporation by any one director or officer. The directors are authorized from time to time by resolution to appoint any officer or officers or any other person or persons on behalf of the Corporation either to sign contracts, documents or
instruments in writing generally or to sign specific contracts, documents or instruments in writing. The signature or signatures of any officer or director of the Corporation and of any officer or officers, person or persons appointed as aforesaid
by resolution of the directors may, if specifically authorized by resolution of the directors, be printed, engraved, lithographed or otherwise mechanically reproduced upon all contracts, documents or instruments in writing or bonds, debentures or
other securities of the Corporation executed or issued by or on behalf of the Corporation, and all contracts, documents or instruments in writing or securities of the Corporation on which the signature or signatures of any of the foregoing officers,
directors or persons shall be so reproduced, as authorized by resolution of the directors, shall be deemed to have been manually signed by such officers, directors or persons whose signature or signatures is or are so reproduced, and shall be as
valid to all intents and purposes as if they had been signed manually, and notwithstanding that the officers, directors or persons whose signature or signatures is or are so reproduced may have ceased to hold office at the date of the delivery or
issue of such contracts, documents or instruments in writing or securities of the Corporation. The corporate seal of the Corporation may, when required, be affixed to contracts, documents or instruments in writing signed as aforesaid or by an
officer or officers, person or persons appointed as aforesaid by resolution of the board of directors, although a document is not invalid merely because a corporate seal is not affixed thereto. 

The term “contracts, documents or instruments in writing” as used in this by-law shall include deeds,
mortgages, hypothecs, charges, conveyances, transfers and assignments of property, real or personal, immovable or movable, agreements, releases, receipts and discharges for the payment of money or other obligations, conveyances, transfers and
assignments of securities and all paper writings. 
  

	2.5	 Banking Arrangements 

The banking business of the Corporation including, without limitation, the borrowing of money and the giving of security therefor, shall be transacted with
such banks, trust companies or other bodies corporate or organizations as may from time to time be designated by or under the authority of the directors. Such banking business or any part thereof shall be transacted under such agreements,
instructions and delegations of powers as the directors may from time to time prescribe or authorize. 
  

	2.6	 Cheques, Drafts, Notes, Etc. 

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

	2.7	 Custody of Securities 

All securities (including certificates, warrants or other evidences of conversion privileges, options or rights to acquire securities) owned by the Corporation
shall be lodged in the name of the Corporation with a chartered bank or a trust company or in a safety deposit box or, if so authorized by resolution of the directors, with such other depositaries or in such other manner as may be determined from
time to time by the directors. All securities (including warrants) belonging to the Corporation may be issued and held in the 

  
 14 

 
name of a nominee or nominees of the corporation (and if issued or held in the names of more than one nominee shall be held in the names of the nominees jointly with right of survivorship), and
shall be endorsed in blank with endorsement guaranteed in order to enable transfer thereof to be completed and registration thereof to be effected. 
  

	2.8	 Voting Securities in Other Bodies Corporate 

The signing officers of the Corporation may execute and deliver proxies and arrange for the issuance of voting certificates or other evidence of the right to
exercise the voting rights attaching to any securities held by the Corporation. Such instruments shall be in favour of such persons as may be determined by the said signing officers executing or arranging for the same. In addition, the directors may
from time to time direct the manner in which and the persons by whom any particular voting rights or class of voting rights may or shall be exercised. 

ARTICLE 3 
 DIRECTORS

  

	3.1	 Number of Directors 

Until changed in accordance with the Act, the board shall consist of not fewer than the minimum number and not more than the maximum number of directors
provided in the articles. 
  

	3.2	 Qualification 

Every director shall be an individual eighteen (18) or more years of age, and no one who is of unsound mind and has been so found by a court in Canada or
elsewhere, or who has the status of a bankrupt shall be a director. Unless the articles otherwise provide, a director need not be a shareholder. At least twenty-five per cent of the directors of the Corporation must be resident Canadians. If at any
time the Corporation has less than four directors, at least one director must be a resident Canadian. 
  

	3.3	 Term of Office 

A director’s term of office (subject to the provisions, if any, of the Corporation’s articles, and subject to his election for an expressly stated
term) shall be from the date of the meeting at which he is elected or appointed until the close of the annual meeting next following, or until his successor is elected or appointed. 

 

	3.4	 Nomination of Directors 

Subject only to the Act and the articles, only persons who are nominated in accordance with the following procedures shall be eligible for election as
directors. Nominations of persons for election to the board may be made at any annual meeting of shareholders, or at any special meeting of shareholders if one of the purposes for which the special meeting was called was the election of directors,
(I) by or at the direction of the board or an authorized officer of the Corporation, including pursuant to a notice of meeting, (II) by or at the direction or request of one or more shareholders pursuant to a proposal made in accordance
with the provisions of the Act or a requisition of the shareholders made in accordance with the provisions of the Act or by any person (a “Nominating Shareholder”) (i) who, at the close of business on the date of the giving of the
notice provided for below in this Section 3.4 and on the record date for notice of such meeting, is entered in the securities register as a holder of one or more shares carrying the right to vote at such meeting or who beneficially owns shares
that are entitled to be voted at such meeting and (ii) who complies with the notice procedures set forth below in this Section 3.4: 
  

	 	(a)	 In addition to any other applicable requirements, for a nomination to be made by a Nominating Shareholder,
the Nominating Shareholder must have given timely notice thereof in proper written form to the corporate secretary of the Corporation at the principal executive offices of the Corporation in accordance with this Section 3.4.

  

	 	(b)	 To be timely, a Nominating Shareholder’s notice to the corporate secretary of the Corporation must be
made (i) in the case of an annual meeting of shareholders, not less than 30 nor more than 65 days prior to the date of the annual meeting of shareholders; provided, however, that in the event that the annual

  
 15 

	 	 
meeting of shareholders is called for a date that is less than 50 days after the date (the “Notice Date”) on which the first public announcement of the date of the annual meeting was
made, notice by the Nominating Shareholder may be made not later than the close of business on the tenth (10th) day following the Notice Date; and (ii) in the case of a special meeting of shareholders (which is not also an annual meeting of
shareholders) of shareholders called for the purpose of electing directors (whether or not called for other purposes), not later than the close of business on the fifteenth (15th) day following the day on which the first public announcement of the
date of the special meeting of shareholders was made. 

 Notwithstanding the foregoing, the board may, in its sole
discretion, waive any requirement in this paragraph (b). In no event shall any adjournment or postponement of a meeting of shareholders or the announcement thereof commence a new time period for the giving of a Nominating Shareholder’s notice
as described above. 
  

	 	(c)	 To be in proper written form, a Nominating Shareholder’s notice to the corporate secretary of the
Corporation must set forth (i) as to each person whom the Nominating Shareholder proposes to nominate for election as a director (A) the name, age, business address and residential address of the person, (B) the principal
occupation(s) or employment(s) of the person, (C) the class or series and number of shares in the capital of the Corporation which are controlled or which are owned beneficially or of record by the person as of the record date for the meeting
of shareholders (if such date shall then have been made publicly available and shall have occurred) and as of the date of such notice, and (D) any other information relating to the person that would be required to be disclosed in a
dissident’s proxy circular in connection with solicitations of proxies for election of directors pursuant to the Act and Applicable Securities Laws; and (ii) as to the Nominating Shareholder giving the notice, any proxy, contract,
arrangement, understanding or relationship pursuant to which such Nominating Shareholder has a right to vote any shares of the Corporation and any other information relating to such Nominating Shareholder that would be required to be made in a
dissident’s proxy circular in connection with solicitations of proxies for election of directors pursuant to the Act and Applicable Securities Laws. The Corporation may require any proposed nominee to furnish such other information as may
reasonably be required by the Corporation to determine the eligibility of such proposed nominee to serve as an independent director of the Corporation or that could be material to a reasonable shareholder’s understanding of the independence, or
lack thereof, of such proposed nominee. 

  

	 	(d)	 No person shall be eligible for election as a director unless nominated in accordance with the provisions of
this Section 3.4; provided, however, that nothing in this Section 3.4 shall be deemed to preclude discussion by a shareholder (as distinct from the nomination of directors) at a meeting of shareholders of any matter in respect of which it
would have been entitled to submit a proposal pursuant to the provisions of the Act. The chairman of the meeting shall have the power and duty to determine whether a nomination was made in accordance with the procedures set forth in the foregoing
provisions and, if any proposed nomination is not in compliance with such foregoing provisions, to declare that such defective nomination shall be disregarded. 

 

	 	(e)	 For purposes of this Section 3.4, (i) “public announcement” shall mean disclosure in a press
release reported by a national news service in Canada, or in a document publicly filed by the Corporation under its profile on the System of Electronic Document Analysis and Retrieval at www.sedar.com; and (ii) “Applicable Securities Laws”
means the applicable securities legislation of each relevant province and territory of Canada, as amended from time to time, the rules, regulations and forms made or promulgated under any such statute and the published national instruments,
multilateral instruments, policies, bulletins and notices of the securities commission and similar regulatory authority of each province and territory of Canada. 

 

	 	(f)	 Notwithstanding any other provision of this by-law, notice given to
the corporate secretary of the Corporation pursuant to this Section 3.4 may only be given by personal delivery, facsimile transmission 

  
 16 

	 	 
or by email (at such email address as stipulated from time to time by the secretary of the Corporation for purposes of this notice), and shall be deemed to have been given and made only at the
time it is served by personal delivery, email (at the address as aforesaid) or sent by facsimile transmission (provided that receipt of confirmation of such transmission has been received) to the corporate secretary at the address of the principal
executive offices of the Corporation; provided that if such delivery or electronic communication is made on a day which is a not a business day or later than 5:00 p.m. (Toronto time) on a day which is a business day, then such delivery or electronic
communication shall be deemed to have been made on the subsequent day that is a business day. 

  

	 	(g)	 Notwithstanding the foregoing, the board may, in its sole discretion, waive any requirement in this
Section 3.4. 

  

	3.5	 Election and Removal 

Directors shall be elected by the shareholders in a meeting on a show of hands unless a poll is demanded, and if a poll is demanded, such election shall be by
ballot. The number of directors to be elected at any such meeting shall be the number of directors then in office unless the directors or the shareholders otherwise determine. Except for those directors elected for an expressly stated term, all the
directors then in office shall cease to hold office at the close of a meeting of shareholders at which directors are elected but, if qualified, are eligible for re-election. If a meeting of the shareholders of
the Corporation fails to elect the number or the minimum number of directors required by the articles by reason of the disqualification, incapacity or the death of any candidates, the directors elected at that meeting may exercise all the powers of
the directors if the number of directors so elected constitutes a quorum. Subject to subSection 2 of Section 109 of the Act, the shareholders of the Corporation may, by ordinary resolution at a special meeting, remove any director before the
expiration of his term of office, in which case the director so removed shall vacate office forthwith upon the passing of the resolution for his removal, and may, by a majority of the votes cast at the meeting, elect any person in his stead for the
remainder of his term. 
  

	3.6	 Vacation of Office 

The office of a director shall ipso facto be vacated if: 
  

	 	(a)	 he dies: 

  

	 	(b)	 he is removed from office by the shareholders; 

 

	 	(c)	 he becomes bankrupt; 

 

	 	(d)	 he is found by a court in Canada or elsewhere to be of unsound mind; or 

 

	 	(e)	 his written resignation is received by the Corporation, or if a time is specified in such resignation, at the
time so specified, whichever is later. 

  

	3.7	 Vacancies 

Subject to the Act, where a vacancy occurs in the board, except a vacancy resulting from an increase in the number or minimum number of directors or from
failure to elect the number or minimum number of directors required by the articles, and a quorum of directors remains in office, the directors then in office (even though twenty-five per cent of such directors are not resident Canadians) may
appoint a person to fill the vacancy for the remainder of the term. If there is not then a quorum of directors or if there has been a failure to elect the number or minimum number of directors required by the articles, the directors then in office
shall forthwith call a special meeting of shareholders to fill the vacancy and, if they fail to do so or if there are no directors then in office, the meeting may be called by any shareholder. 

 

	3.8	 Action by Directors 

Subject to any unanimous shareholder agreement, the directors shall manage the business and affairs of the Corporation, and may exercise all such powers and do
all such acts and things as may be exercised or done by the Corporation and are not by the Act, the articles, the by-laws, any special resolution of the Corporation, a unanimous shareholder agreement or by
statute expressly directed or required to be done in some other manner. 
  

	3.9	 Canadian Directors Present at Meetings 

  
 17 

 The directors shall not transact business at a meeting unless at least twenty-five per cent of the directors
present are resident Canadians or, if the Corporation has less than four directors, at least one of the directors present is a resident Canadian, except where: 
  

	 	(a)	 a resident Canadian director who is unable to be present approves in writing or by telephonic, electronic or
other communication facility, the business transacted at the meeting; and 

  

	 	(b)	 the required number of resident Canadian directors would have been present had that director been present at
the meeting. 

  

	3.10	 Duties 

Every director and officer of the Corporation in exercising his powers and discharging his duties shall: 

 

	 	(a)	 act honestly and in good faith with a view to the best interest of the Corporation; and 

 

	 	(b)	 exercise the care, diligence and skill that a reasonably prudent person would exercise in comparable
circumstances. 

 (c) 
  

	3.11	 Validity of Acts 

An act by a director or officer is valid notwithstanding an irregularity in his election or appointment or a defect in his qualification. 

 

	3.12	 Remuneration and Expenses 

Subject to any unanimous shareholder agreement, the remuneration to be paid to the directors shall be such as the directors shall from time to time determine.
The directors may also by resolution award special remuneration to any director in undertaking any special services on the Corporation’s behalf other than the routine work ordinarily required of a director of a Corporation. The confirmation of
any such resolution or resolutions by the shareholders shall not be required. The directors shall also be entitled to be paid their travelling and other expenses properly incurred by them in connection with the affairs of the Corporation. 

ARTICLE 4 
 MEETINGS OF
DIRECTORS 
  

	4.1	 Calling of Meetings 

Meetings of the directors shall be held from time to time at such place as the chairman of the board (if any), the president or vice-president who is a
director or any two directors may determine and the secretary shall, upon direction of any of the foregoing, convene a meeting of directors. 
  

	4.2	 Place of Meeting 

Meetings of directors and of any committee of directors may be held at any place in or outside Canada. 

 

	4.3	 Notice 

Notice of the time and place for the holding of any such meeting shall be delivered, mailed, telegraphed, cabled or telexed to each director not less than 2
days (exclusive of the day on which the notice is delivered, mailed, telegraphed, cabled or telexed, but inclusive of the day for which notice is given) before the date of the meeting; provided that meetings of the directors or of any committee of
directors may be held at any time without formal notice if all the directors are present (except where a director attends a meeting for the express purpose of objecting to the transaction of any business on the grounds that the meeting is not
lawfully called) or if all absent directors have waived notice. Notice of any meeting of directors or of any committee of directors or any irregularity in any meeting or the notice thereof may be waived by any director in writing or by telegram,
cable or telex addressed to the Corporation or in any other manner, and such waiver may be validly given either before or after the meeting to which such waiver relates. A notice of meeting of directors or of any committee of directors need not
specify the purpose of or the business to be transacted at the meeting except where the Act requires such purpose or business to be specified, including any proposal to: 
  

	 	(a)	 submit to the shareholders any question or matter requiring approval of the shareholders;

  
 18 

	 	(b)	 fill a vacancy among the directors or in the office of auditors of the Corporation; 

 

	 	(c)	 issue securities of the Corporation; 

 

	 	(d)	 declare dividends; 

  

	 	(e)	 purchase, redeem or otherwise acquire shares of the Corporation; 

 

	 	(f)	 pay a commission for the sale of shares; 

 

	 	(g)	 approve a management proxy circular; 

 

	 	(h)	 approve a takeover bid circular or directors’ circular; 

 

	 	(i)	 approve any annual financial statements; or 

 

	 	(j)	 adopt, amend or repeal by-laws. 

 

	4.4	 Quorum 

Subject to Section 3.9, the quorum for the transaction of business at any meeting of the directors shall consist of a majority of the directors then in
office and, notwithstanding any vacancy among the directors, a quorum of directors may exercise all the powers of the directors. 
  

	4.5	 First Meeting of the New Board 

For the first meeting of directors to be held following the election of directors at an annual or special meeting of the shareholders, or for a meeting of
directors at which a director is appointed to fill a vacancy in the board, no notice of such meeting need be given to the newly elected or appointed director or directors in order for the meeting to be duly constituted, provided a quorum of the
directors is present. 
  

	4.6	 Adjournment 

Any meeting of directors or of any committee of directors may be adjourned from time to time by the chairman of the meeting, with the consent of the meeting,
to a fixed time and place, and no notice of the time and place for the holding of the adjourned meeting need be given to any director if the time and place of the adjourned meeting are announced at the original meeting. Any adjourned meeting shall
be duly constituted if held in accordance with the terms of the adjournment and a quorum is present thereat. The directors who formed a quorum at the original meeting are not required to form the quorum at the adjourned meeting. If there is no
quorum present at the adjourned meeting, the original meeting shall be deemed to have terminated forthwith after its adjournment. 
  

	4.7	 Telephone Participation 

Where all directors have consented thereto (either before or after the meeting), a director may participate in a meeting of directors or of any committee of
directors by means of such telephone or other communications facilities as permit all persons participating in the meeting to hear each other, and a director participating in a meeting by such means shall be deemed to be present at that meeting.

  

	4.8	 Regular Meetings 

The directors may appoint a day or days in any month or months for regular meetings of the directors at a place and hour to be named. A copy of any resolution
of the board fixing the place and time of such regular meetings shall be sent to each director forthwith after being passed, but no other notice shall be required for any such regular meeting except where the Act requires the purpose thereof or the
business to be transacted thereat to be specified. 
  

	4.9	 Chairman  

The chairman of any meeting of the directors shall be the first mentioned of such of the following officers as have been appointed and who is a director and is
present at the meeting: chairman of the board, managing director, president, or a vice-president. If no such officer is present, the directors present shall choose one of their number to be chairman. 

4.10 Votes to Govern All questions arising at any meeting of directors shall be decided by a majority of votes. In case of an equality of votes, the
chairman of the meeting in addition to his original vote shall not have a second or casting vote. 
  

	4.11	 Resolution in Lieu of Meeting 

  
 19 

 A resolution in writing signed by all the directors entitled to vote on that resolution at a meeting of
directors or committee of directors is as valid as if it had been passed at a meeting of directors or committee of directors. A copy of every such resolution shall be kept with the minutes of the proceedings of the directors or committee of
directors. 
  

	4.12	 One Director Meeting 

If the Corporation has only one director, that director may constitute a meeting. 

ARTICLE 5 
 COMMITTEES

  

	5.1	 Committees of Directors 

The directors may appoint one or more committees of the board, however designated, and delegate to any such committee any of the powers of the board except
those which pertain to items which, under the Act, a committee of the board has no authority to exercise. 
  

	5.2	 Transaction of Business 

Subject to the provisions of Section 4.7, the powers of such committee or committees of directors may be exercised by a meeting at which a quorum is
present or by resolution in writing signed by all the members of such committee who would have been entitled to vote on that resolution at a meeting of the committee. Meetings of such committee may be held at any place in or outside Canada. 

 

	5.3	 Advisory Bodies 

The directors may from time to time appoint advisory bodies as they may deem advisable. 

 

	5.4	 Procedure 

Unless otherwise determined by the directors, each committee shall have the power to fix its quorum at not less than a majority of its members, to elect its
chairman and to regulate its procedure. 
 ARTICLE 6 

OFFICERS 
  

	6.1	 Appointment of Officers  

The directors may annually or as often as may be required appoint a president and a secretary, and if deemed advisable, may annually or as often as may be
required appoint one or more vice-presidents, (to which title may be words added indicating seniority or function), a treasurer, and such other officers as the directors may determine, including one or more assistants to any one of the officers so
appointed. Subject to Sections 6.2 and 6.3, an officer may but need not be a director, and one person may hold more than one office. In case and whenever the same person holds the offices of secretary and treasurer, he may but need not be known as
the secretary-treasurer. The directors may from time to time appoint such other officers, employees and agents as they shall deem necessary who shall have such authority and shall perform such functions and duties as may from time to time be
prescribed by resolution of the directors. 
  

	6.2	 Chairman of the Board 

The board may from time to time appoint a chairman of the board who shall be a director. If appointed, the directors may assign to him any of the powers and
duties that are by any provisions of this by-law assigned to the managing director or to the president; and he shall, subject to the provisions of the Act, have such other powers and duties as the directors
may specify. During the absence or disability of the chairman of the board, his duties shall be performed and his powers exercised by the managing director, if any, or by the president. 

 

	6.3	 Managing Director 

The directors may from time to time appoint from their number a managing director who is a resident Canadian, and may delegate to the managing director any of
the powers of the directors subject to the Act. A managing director shall conform to all lawful orders given to him by the directors of the Corporation, and 

  
 20 

 
shall at all reasonable times give to the directors or any of them all information they may require regarding the affairs of the Corporation. 

 

	6.4	 President 

The president shall, unless and until the board designates any other officer of the Corporation to be the chief executive officer of the Corporation, be the
chief executive officer and shall exercise general supervision over the business and affairs of the Corporation. In the absence of the chairman of the board and managing director, if any, and if the president is also a director of the Corporation,
the president shall, when present, preside at all meetings of the directors, any committee of the directors and shareholders; he shall sign such contracts, documents or instruments in writing as require his signature, and shall have such other
powers and shall perform such other duties as may from time to time be assigned to him by resolution of the directors or as are incident to his office. 
  

	6.5	 Vice-President 

The vice-president or, if more than one, the vice-presidents in order of seniority, shall be vested with all the powers and shall perform all the duties of the
president in the absence or inability or refusal to act of the president, provided, however, that a vice-president who is not a director shall not preside as chairman at any meeting of directors or shareholders. The vice-president or, if more than
one, the vice-presidents in order of seniority, shall sign such contracts, documents or instruments in writing as require his or their signatures and shall also have such other powers and duties as may from time to time be assigned to him or them by
resolution of the directors. 
  

	6.6	 Secretary 

The secretary shall give or cause to be given notices for all meetings of the directors and any committee of the directors and shareholders when directed to do
so, and shall have charge of the minute books of the Corporation and, subject to the provisions of Section 8.3 hereof, of the documents and registers required by the Act. He shall sign such contracts, documents or instruments in writing as
require his signature, and shall have such other powers and duties as may from time to time be assigned to him by resolution of the directors, or as are incident to his office. 

 

	6.7	 Treasurer 

Subject to the provisions of any resolution of the directors, the treasurer shall have the care and custody of all the funds and securities of the Corporation,
and shall deposit the same in the name of the Corporation in such bank or banks or with such other depositary or depositaries as the directors may by resolution direct. He shall prepare and maintain proper accounting records in compliance with the
Act. He shall render to the directors whenever required an account of all his transactions as treasurer and of the financial position of the Corporation. He shall sign such contracts, documents or instruments in writing as require his signature, and
shall have such other powers and duties as may from time to time be assigned to him by resolution of the directors or as are incident to his office. 
  

	6.8	 Powers and Duties of Other Officers 

The powers and duties of all other officers shall be such as the terms of their engagement call for or as the directors or the chief executive officer may
specify. Any of the powers and duties of an officer to whom an assistant has been appointed may be exercised and performed by such assistant, unless the board or the chief executive officer otherwise directs. 

 

	6.9	 Duties of Officers May Be Delegated 

In case of the absence or inability or refusal to act of any officer of the Corporation or for any other reason that the directors may deem sufficient, the
directors may delegate all or any of the powers of such officer to any other officer or to any director for the time being. 
  

	6.10	 Term of Office 

All officers, employees and agents, in the absence of agreement to the contrary, shall be subject to removal by resolution of the directors at any time, with
or without cause. Otherwise, each officer appointed by the directors shall hold office until his successor is appointed. 
  

	6.11	 Variation of Powers and Duties 

  
 21 

 The directors may from time to time and subject to the provisions of the Act, vary, add to or limit the
powers and duties of any officer. 
  

	6.12	 Terms of Employment and Remuneration 

The terms of employment and remuneration of all officers appointed by the board, including the chairman of the board, if any, and the president shall be
determined from time to time by resolution of the board. The fact that any officer or employee is a director or shareholder shall not disqualify him from receiving such remuneration as may be determined. 

 

	6.13	 Conflict of Interest 

An officer shall disclose his interest in any material contract or proposed material contract with the Corporation in accordance with Section 7.4. 

 

	6.14	 Fidelity Bonds 

The directors may require such officers, employees -and agents of the Corporation as the directors deem advisable to
furnish bonds for the faithful discharge of their powers and duties, in such form and with such surety as the directors may from time to time determine, provided that no director shall be liable for failure to require any such bond or for the
insufficiency of any such bond or for any loss by reason of the failure of the Corporation to receive any indemnity thereby provided. 
  

	6.15	 Vacancies 

If the office of chairman, managing director, president, vice-president, secretary, treasurer, or any other office created by the directors pursuant to
Section 6.8 hereof shall be or become vacant by reason of death, resignation or in any other manner whatsoever, the directors shall in the case of the president or the secretary and may in the case of any other officer appoint an officer to
fill such vacancy. 
  

	6.16	 Other Officers 

The duties of all other officers of the Corporation shall be such as the terms of their engagement call for or the board requires of them. Any of the powers
and duties of an officer to whom an assistant has been appointed may be exercised and performed by such assistant, unless the board otherwise directs. 

ARTICLE 7 
 PROTECTION OF
DIRECTORS AND OFFICERS 
  

	7.1	 Limitation of Liability 

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

	7.2	 Indemnity 

  
 22 

 Subject to the Act, the Corporation shall indemnify a director or officer of the Corporation, a former
director or officer of the Corporation or another individual who acts or acted at the Corporation’s request as a director or officer, or an individual acting in a similar capacity, of another entity, against all costs, charges and expenses,
including an amount paid to settle an action or satisfy a judgment, reasonably incurred by the individual in respect of any civil, criminal, administrative, investigative or other proceeding to which the individual is involved because of that
association with the Corporation or other entity, if: 
  

	 	(a)	 the individual acted honestly and in good faith with a view to the best interests of the Corporation, or, as
the case may be, to the best interests of the other entity for which the individual acted as director or officer or in a similar capacity at the Corporation’s request; and 

 

	 	(b)	 in the case of a criminal or administrative action or proceeding that is enforced by a monetary penalty, the
individual had reasonable grounds for believing that the individual’s conduct was lawful. 

  

	7.3	 Insurance 

Subject to the Act, the Corporation may purchase and maintain insurance for the benefit of any person referred to in Section 7.2 against any liability
incurred by him in his capacity as a director or officer of the Corporation or of another body corporate at the Corporation’s request. 
  

	7.4	 Conflict of Interest 

A director or officer who is a party to, or who is a director or officer of or has a material interest in any material contract with the Corporation shall
disclose the nature and extent of his interest at the time and in the manner provided by the Act. Any such contract or proposed contract shall be referred to the directors or shareholders for approval even if such contract is one that in the
ordinary course of the Corporation’s business would not require approval by the directors or shareholders, and a director interested in a contract so referred to the board shall not vote on any resolution to approve the same except as provided
by the Act. 
  

	7.5	 Submission of Contracts or Transactions to Shareholders for Approval 

The directors in their discretion may submit any contract, act or transaction for approval, ratification or confirmation at any annual meeting of the
shareholders or at any special meeting of the shareholders called for the purpose of considering the same and any contract, act or transaction that shall be approved, ratified or confirmed by resolution passed by a majority of the votes cast at any
such meeting (unless any different or additional requirement is imposed by the Act or by the Corporation’s articles or any other by-law) shall be as valid and as binding upon the Corporation and upon all
the shareholders as though it had been approved, ratified and/or confirmed by every shareholder of the Corporation. 
 ARTICLE 8 

SHARES 
  

	8.1	 Allotment 

Subject to the Act, the articles of the Corporation and any unanimous shareholder agreement, the directors may from time to time allot, or grant options to
purchase, the whole or any part of the authorized and unissued shares of the Corporation at such times and to such persons and for such consideration as the directors may determine, provided that no share shall be issued until it is fully paid as
provided by the Act. 
  

	8.2	 Commissions 

The directors may from time to time authorize the Corporation to pay a reasonable commission to any person in consideration of his purchasing or agreeing to
purchase shares of the Corporation, whether from the Corporation or from any other person, or procuring or agreeing to procure purchasers for any such shares. 
  

	8.3	 Transfer Agents and Registrars 

The directors may from time to time appoint a registrar to maintain the securities register and a transfer agent to maintain the register of transfers and may
also appoint one or more branch registrars to maintain branch securities registers and one or more branch transfer agents to maintain branch registers of transfers, but one person may be appointed both registrar and transfer agent. The directors may
at any time terminate any such appointment. 

  
 23 

	8.4	 Share Certificates 

Every holder of one or more shares of the Corporation shall be entitled, at his option, to a share certificate, or to a nontransferrable written
acknowledgement of his right to obtain a share certificate, stating the number and class or series of shares held by him as shown on the securities register. Share certificates and acknowledgements of a shareholder’s right to a share
certificate shall be in such form as the directors shall from time to time approve. Any share certificate shall be signed in accordance with Section 2.4: it need not be under the corporate seal. The signature of one of the signing officers may
be printed or mechanically reproduced in facsimile upon share certificates; the other officer must sign manually. Every such facsimile signature shall for all purposes be deemed to be a signature binding upon the Corporation. Unless the directors
otherwise determine, certificates representing shares in respect of which a transfer agent or registrar, as the case may be, has been appointed shall not be valid unless countersigned manually by or on behalf of such transfer agent or registrar. In
the case of share certificates which are not valid unless countersigned manually by or on behalf of a transfer agent or registrar, the signature of both signing officers may be printed or mechanically reproduced in facsimile upon share certificates
and every such facsimile signature shall for all purposes be deemed to be a signature binding upon the Corporation. Notwithstanding any change in the persons holding office between the time of signing and the issuance of any certificate, and
notwithstanding that a person may not have held office at the date of issuance of such certificate, any such certificate so signed shall be valid and binding upon the Corporation. 

 

	8.5	 Registration of Transfer 

Subject to the Act, a transfer of shares shall not be registered in a securities register except upon presentation of the certificate representing such shares
with a transfer endorsed thereon, or delivered therewith, duly executed by the registered holder or by his attorney, fiduciary or agent duly appointed, together with such reasonable assurance that the endorsement is genuine and effective as the
directors may from time to time prescribe, upon payment of all applicable taxes and any reasonable fees prescribed by the directors, upon compliance with such restrictions on transfer as are authorized by the articles, and upon satisfaction of any
lien referred to in Section 8.10. 
  

	8.6	 Non-Recognition of Trusts 

Subject to the Act, the Corporation may treat the registered holder of any share as the person exclusively entitled to vote, to receive notices, to receive any
dividend or other payments in respect of the share, and otherwise to exercise all the rights and powers of an owner of the share. 
  

	8.7	 Joint Shareholders 

If two or more persons are registered as joint holders of any share, the Corporation shall not be bound to issue more than one certificate in respect thereof,
and delivery of such certificate to one of such persons shall be sufficient delivery to all of them. Any one of such persons may give effectual receipts for the certificate issued in respect thereof or for any dividend, bonus, return of capital or
other money payable or warrant issuable in respect of such share. 
  

	8.8	 Deceased Shareholders 

In the event of the death of a holder, or of one of the joint holders, of any share, the Corporation shall not be required to make any entry in the securities
register in respect thereof or to make dividends or other payments in respect thereon except upon production of all such documents as may be required by law and upon compliance with the reasonable requirements of the Corporation and its transfer
agents. 
  

	8.9	 Replacement of Share Certificates 

The directors or any officer or agent designated by the directors may in their or his discretion direct the issue of a new share certificate in lieu of and
upon cancellation of a share certificate that has been mutilated or in substitution for a share certificate claimed to have been lost, destroyed or wrongfully taken on payment of such reasonable fee, and on such terms as to indemnity, reimbursement
of expenses and evidence of loss and of title as the directors may from time to time prescribe, whether generally or in any particular case. 
  

	8.10	 Lien for Indebtedness 

If the articles provide that the Corporation shall have a lien on shares registered in the name of a shareholder indebted to the Corporation, such lien may be
enforced, subject to the articles and to any unanimous 

  
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shareholder agreement, by the sale of the shares thereby affected or by any other action, suit, remedy or proceeding authorized or permitted by law or by equity and, pending such enforcement, may
refuse to register a transfer of the whole or any part of such shares. 
 ARTICLE 9 

DIVIDENDS AND RIGHTS 
  

	9.1	 Dividends 

Subject to the Act, the directors may from time to time declare dividends payable to the shareholders according to their respective rights and interests in the
Corporation. Dividends may be paid in money or property or by issuing fully paid shares of the Corporation. 
  

	9.2	 Dividend Cheques 

A dividend payable in money shall be paid by cheque drawn on the Corporation’s bankers or one of them to the order of each registered holder of shares of
the class or series in respect of which it has been declared and mailed by prepaid ordinary mail to such registered holder at his recorded address, unless such holder otherwise directs. In the case of joint holders the cheque shall, unless such
joint holders otherwise direct, be made payable to the order of all of such joint holders and mailed to them at their recorded address. The mailing of such cheque as aforesaid, unless the same is not paid on due presentation, shall satisfy and
discharge the liability for the dividend to the extent of the sum represented thereby plus the amount of any tax which the Corporation is required to and does withhold. 
  

	9.3	 Non-Receipt of Cheques 

In the event of non-receipt of any dividend cheque by the person to whom it is sent as aforesaid, the Corporation shall
issue to such person a replacement cheque for a like amount on such terms as to indemnity, reimbursement of expenses and evidence of non-receipt and of title as the directors may from time to time prescribe,
whether generally or in any particular case. 
  

	9.4	 Record Date for Dividends and Rights 

The directors may fix in advance a date, preceding by not more than 50 days the date for the payment of any dividend or the date for the issue of any warrant
or other evidence of right to subscribe for securities of the Corporation, as a record date for the determination of the persons entitled to receive payment for such dividend or to exercise the right to subscribe for such securities, and notice of
any such record date shall be given not less than 7 days before such record date by newspaper advertisement in the manner provided in the Act unless notice of the record date is waived in writing by every holder of a share of a class or series
affected whose name is set out in the securities register at the close of business on the day the directors fix the record date. If no record date is so fixed, the record date for the determination of the persons entitled to receive payment of any
dividend or to exercise the right to subscribe for securities of the Corporation shall be at the close of business on the day on which the resolution relating to such dividend or right to subscribe is passed by the directors. 

 

	9.5	 Unclaimed Dividends 

Any dividend unclaimed after a period of 6 years from the date on which the same has been declared to be payable shall be forfeited and shall revert to the
Corporation. 
 ARTICLE 10 

MEETINGS OF SHAREHOLDERS 
  

	10.1	 Annual Meetings 

The annual meeting of shareholders shall be held at such time in each year and, subject to Section 10.3, at such place as the directors, the chairman of
the board, the managing director or the president may from time to time determine, for the purpose of considering the financial statements and reports required by the Act to be placed before the annual meeting, electing directors, appointing
auditors and for the transaction of such other business as may properly be brought before the meeting. 

  
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	10.2	 Special Meetings  

The directors, the chairman of the board, the managing director or the president shall have power to call a special meeting of shareholders at any time. 

 

	10.3	 Place of Meetings 

Meetings of shareholders shall be held at the registered office of the Corporation or elsewhere in the municipality in which the registered office is situate
or, if the directors shall so determine, at some other place in Canada or, if all the shareholders entitled to vote at the meeting so agree, at some place outside Canada. 
  

	10.4	 Virtual Meetings 

If the board calls a meeting of shareholders under the Act, the board may determine that the meeting shall be held, in accordance with the Act, entirely by
means of a telephonic, an electronic or other communication facility that permits all participants to communicate adequately with each other during the meeting. 
  

	10.5	 Notice of Meetings 

Notice of the time and place of each meeting of shareholders shall be given in the manner provided in Part Eleven not less than 21 nor more than 60 days before
the date of the meeting to each director, to the auditors and to each shareholder who at the close of business on the record date is entered in the securities register as the holder of one or more shares carrying the right to vote at the meeting.
Notice of a meeting of shareholders called for any purpose other than consideration of the financial statements and the auditors’ report, election of directors and reappointment of incumbent auditors shall state the nature of such business in
sufficient detail to permit the shareholder to form a reasoned judgment thereon and shall state the text of any special resolution to be submitted to the meeting. 
  

	10.6	 List of Shareholders 

Entitled to Notice For every meeting of shareholders, the Corporation shall prepare a list of shareholders entitled to receive notice of the meeting, arranged
in alphabetical order and showing the number of shares held by each shareholder entitled to vote at the meeting. If a record date for the meeting is fixed pursuant to Section 10.7, the shareholders listed shall be those registered at the close
of business on such record date. If no record date is fixed, the shareholders listed shall be those registered at the close of business on the day immediately preceding the day on which notice of the meeting is given, or where no such notice is
given, the day on which the meeting is held. The list shall be available for examination by any shareholder during usual business hours at the registered office of the Corporation or at the place where the central securities register is kept and at
the meeting for which the list was prepared. Where a separate list of shareholders has not been prepared, the names of persons appearing in the securities register at the requisite time as the holder of one or more shares carrying the right to vote
at such meeting shall be deemed to be a list of shareholders. 
  

	10.7	 Record Date for Notice 

The directors may fix in advance a record date, preceding the date of any meeting of shareholders by not more than 60 days and not less than 21 days, for the
determination of the shareholders entitled to notice of the meeting, provided that notice of any such record date is given not less than 7 days before such record date, by newspaper advertisement in the manner provided in the Act unless notice of
the record date is waived in writing by every holder of a share of a class or series affected whose name is set out in the securities register at the close of business on the day the directors fix the record date. If no record date is so fixed, the
record date for the determination of the shareholders entitled to notice of the meeting shall be the close of business on the day immediately preceding the day on which the notice is given, or, if no notice is given, the day on which the meeting is
held. 
  

	10.8	 Meetings without Notice 

A meeting of shareholders may be held without notice at any time and place permitted by the Act (a) if all the shareholders entitled to vote thereat are
present in person or represented by proxy or if those not present or represented by proxy waive notice of or otherwise consent to such meeting being held, and (b) if the auditors and the directors are present or waive notice of or otherwise
consent to such meeting being held, 

  
 26 

 provided that such shareholders, auditors or directors, present are not attending for the express purpose of
objecting to the transaction of any business on the grounds that the meeting is not lawfully called. At such a meeting, any business may be transacted which the Corporation at a meeting of shareholders may transact. If the meeting is held at a place
outside Canada, shareholders not present or represented by proxy, but who have waived notice of or otherwise consented to such meeting, shall also be deemed to have consented to the meeting being held at such place. 

 

	10.9	 Chairman, Secretary and Scrutineers 

The chairman of the board or, in his absence, any of the co-chairmen of the board, or, in their absence, the lead
director or, in his absence, the president or, in the absence of all of them or in the event the directors otherwise so determine, such individual as is designated by the directors, shall be the chairman of any meeting of shareholders. If no such
officer is present within 15 minutes from the time fixed for holding the meeting, the persons present and entitled to vote shall choose one of their number to be chairman. If the secretary of the Corporation is absent, the chairman shall appoint
some person, who need not be a shareholder, to act as secretary of the meeting. If desired, one or more scrutineers, who need not be shareholders, may be appointed by a resolution or by the chairman with the consent of the meeting. 

 

	10.10	 Persons Entitled to be Present 

The only persons entitled to be present at a meeting of shareholders shall be those entitled to vote thereat, the directors and auditors of the Corporation and
others who, although not entitled to vote, are entitled or required under any provision of the Act or the articles or by-laws to be present at the meeting. Any other person may be admitted only on the
invitation of the chairman of the meeting or with the consent of the meeting. 
  

	10.11	 Quorum 

Subject to the provisions of Section 10.21, a quorum for the transaction of business at any meeting of shareholders shall be two persons present in
person, each being a shareholder entitled to vote thereat or a duly appointed proxyholder for an absent shareholder so entitled, to vote at the meeting. If a quorum is present at the opening of any meeting of shareholders, the shareholders present
or represented by proxy may proceed with the business of the meeting notwithstanding that a quorum is not present throughout the meeting. If a quorum is not present at the opening of any meeting of shareholders, the shareholders present or
represented by proxy may adjourn the meeting to a fixed time and place but may not transact any other business. 
  

	10.12	 Right to Vote 

Subject to the provisions of the Act as to authorized representatives of any other body corporate or association, at any meeting of shareholders for which the
Corporation has prepared the list referred to in Section 10.6, a shareholder whose name appears on such list is entitled to vote the shares shown opposite his name at the meeting to which the list relates. At any meeting of shareholders for
which the Corporation has not prepared the list referred to in Section 10.6, every person shall be entitled to vote at the meeting who at the time is entered in the securities register as the holder of one or more shares carrying the right to
vote at such meeting. 
  

	10.13	 Proxyholders and Representatives 

Every shareholder entitled to vote at a meeting of shareholders may appoint a proxyholder, or one or more alternate proxyholders, to attend and act as his
representative at the meeting in the manner and to the extent authorized and with the authority conferred by the proxy. A proxy shall be in writing executed by the shareholder or his attorney and shall conform with the requirements of the Act.
Alternatively, every such shareholder which is a body corporate or association may authorize by resolution of its directors or governing body an individual to represent it at a meeting of shareholders and such individual may exercise on the
shareholder’s behalf all the powers it could exercise if it were an individual shareholder. The authority of such an individual shall be established by depositing with the Corporation a certified copy of such resolution, or in such other manner
as may be satisfactory to the secretary of the Corporation or the chairman of the meeting. Any such proxyholder or representative need not be a shareholder. 
  

	10.14	 Time for Deposit of Proxies 

  
 27 

 The directors may specify in a notice calling a meeting of shareholders a time, preceding the time of such
meeting by not more than 48 hours exclusive of non-business days, before which time proxies to be used at such meeting must be deposited. A proxy shall be acted upon only if, prior to the time so specified, it
shall have been deposited with the Corporation or an agent thereof specified in such notice or, if no such time is specified in such notice, it has been received by the secretary of the Corporation or by the chairman of the meeting or any
adjournment thereof prior to the time of voting. 
  

	10.15	 Joint Shareholders 

If two or more persons hold shares jointly, any of them present in person or represented by proxy at a meeting of shareholders may, in the absence of the other
or others, vote the shares; but if two or more of those persons are present in person or represented by proxy, they shall vote together as one on the shares jointly held by them. 

 

	10.16	 Votes to Govern 

At any meeting of shareholders every question shall, unless otherwise required by the articles or by-laws or by law, be
determined by the majority of the votes cast on the question. In case of an equality of votes either upon a show of hand or upon a poll, the chairman of the meeting shall not be entitled to a second or casting vote. 

 

	10.17	 Show of Hands 

Subject to the Act, any question at a meeting of shareholders shall be decided by a show of hands unless a ballot thereon is required or demanded as provided
in Section 10.18. Upon a show of hands every person who is present and entitled to vote shall have one vote. Whenever a vote by show of hands shall have been taken upon a question, unless a ballot thereon is so required or demanded, a
declaration by the chairman of the meeting that the vote upon the question has been carried or carried by a particular majority or not carried and an entry to that effect in the minutes of the meeting shall be prima facie evidence of the fact
without proof of the number or proportion of the votes recorded in favour of or against any resolution or other proceeding in respect of the said question, and the result of the vote so taken shall be the decision of the shareholders upon the said
question. For the purpose of this Section, if at any meeting the Corporation has made available to shareholders the means to vote electronically, any vote made electronically shall be included in tallying any votes by show of hands. 

 

	10.18	 Ballots 

On any question proposed for consideration at a meeting of shareholders, and whether or not a show of hands has been taken thereon, the chairman may require a
ballot or any person who is present and entitled to vote at the meeting may require or demand a ballot. A ballot so required or demanded shall be taken in such manner as the chairman shall direct. A requirement or demand for a ballot may be
withdrawn at any time prior to the taking of the ballot. If a ballot is taken each person present shall be entitled, in respect of the shares which he is entitled to vote at the meeting upon the question, to that number of votes provided by the Act
or the articles, and the result of the ballot so taken shall be the decision of the shareholders upon the said question. 
  

	10.19	 Adjournment 

The chairman at a meeting of shareholders may, with the consent of the meeting and subject to such conditions as the meeting may decide, adjourn the meeting
from time to time and from place to place. If a meeting of shareholders is adjourned for less than 30 days, it shall not be necessary to give notice of the adjourned meeting, other than by announcement at the earliest meeting that is adjourned.
Subject to the Act, if a meeting of shareholders is adjourned by one or more adjournments for an aggregate of 30 days or more, notice of the adjourned meeting shall be given as for an original meeting. 

 

	10.20	 Resolution in Writing 

A resolution in writing signed by all the shareholders entitled to vote on that resolution at a meeting of shareholders is as valid as if it had been passed at
a meeting of the shareholders unless a written statement 

  
 28 

 
with respect to the subject matter of the resolution is submitted by a director or the auditors in accordance with the Act. 

 

	10.21	 Only One Shareholder 

Where the Corporation has only one shareholder or only one holder of any class or series of shares, the shareholder present in person or represented by proxy
constitutes a meeting and the quorum requirements hereof shall have no application. 
 ARTICLE 11 

NOTICES 
  

	11.1	 Method of Giving Notices 

Any notice (which term includes any communication or document) to be given (which term includes sent, delivered or served) pursuant to the Act, the regulations
thereunder, the articles, the by-laws or otherwise to a shareholder, director, officer, auditor or member of a committee of the directors shall be sufficiently given if delivered personally to the person to
whom it is to be given or if delivered to his recorded address or if mailed to him at his recorded address by prepaid ordinary or air mail or if sent to him at his recorded address by any means of prepaid transmitted or recorded communication. A
notice so delivered shall be deemed to have been given when it is delivered personally or to the recorded address as aforesaid: a notice so mailed shall be deemed to have been given when deposited in a post office or public letter box: and a notice
so sent by any means of transmitted or recorded communication shall be deemed to have been given when dispatched or delivered to the appropriate communication company or agency or its representative for dispatch. The secretary may change or cause to
be changed the recorded address of any shareholder, director, officer, auditor or member of a committee of the directors in accordance with any information believed by him to be reliable. 

 

	11.2	 Notice to Joint Shareholders 

If two or more persons are registered as joint holders of any share, any notice may be addressed to all of such joint holders but notice to one of such persons
shall be sufficient notice to all of them. 
  

	11.3	 Computation of Time 

In computing the date when notice must be given under any provision requiring a specified number of days notice of any meeting or other event, the date of
giving the notice shall be excluded and the date of the meeting or other event shall be included. 
  

	11.4	 Undelivered Notices 

If any notice given to a shareholder pursuant to Section 11.1 is returned on three consecutive occasions because he cannot be found, the Corporation shall
not be required to give any further notices to such shareholder until he informs the Corporation in writing of his new address. 
  

	11.5	 Omissions and Errors  

The accidental omission to give any notice to any shareholder, director, officer, auditor or member of a committee of the board or the non-receipt of any notice by any such person or any error in any notice not affecting the substance thereof shall not invalidate any action taken at any meeting held pursuant to such notice or otherwise founded
thereon. 
  

	11.6	 Persons Entitled by Death or Operation of Law 

Every person who, by operation of law, transfer, death of shareholder or any other means whatsoever, shall become entitled to any share, shall be bound by
every notice in respect of such share which shall have been duly given to the shareholder through whom he derives his title to such share prior to his name and address being entered on the securities register (whether such notice was given before or
after the happening of the event upon which he became so entitled) and prior to his furnishing to the Corporation the proof of authority or evidence of his entitlement prescribed by the Act. 

 

	11.7	 Waiver of Notice 

Any shareholder, proxyholder, representative, director, officer, auditor, member of a committee of the board or other person entitled to attend a meeting of
shareholders may at any time waive any notice, or waive or 

  
 29 

 abridge the time for any notice, required to be given to him or to the shareholder whom the proxyholder or
representative represents under any provision of the Act, the regulations thereunder, the articles, the by-laws or otherwise and such waiver or abridgement, whether given before or after the meeting or other
event for which notice is required to be given shall cure any default in the giving or in the time of such notice, as the case may be. Any such waiver or abridgement shall be in writing except a waiver of notice of a meeting of shareholders or of
the board which may be given in any manner. 
 ARTICLE 12 

EFFECTIVE DATE 
  

	12.1	 Effective Date 

This by-law shall come into force when made by the directors in accordance with the Act. 

 

	12.2	 Repeal 

All previous by-laws of the Corporation are repealed as of the coming into force of this
by-law. Such repeal shall not affect the previous operation of any by-law so repealed or affect the validity of any act done or right, privilege, obligation or liability
acquired or incurred under, or the validity of any contract or agreement made pursuant to, or the validity of the Articles or predecessor charter documents of the Corporation obtained pursuant to, any such
by-law prior to its repeal. All officers and persons acting under any by-law so repealed shall continue to act as if appointed under the provisions of this by-law and all resolutions of the board or a committee of the board with continuing effect passed under any repealed by-law shall continue good and valid except to the extent
inconsistent with this by-law and until amended or repealed. 
  

			
	MADE by the board the 20th day of January, 2021.
		
	By:	 	/s/ Pradyum Sekar
	Name:	 	Pradyum Sekar
	Title:	 	Chief Executive Officer

  
 30

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