Document:

ENGLISH SUMMARY OF THE SALE AGREEMENT OF ASESUISA ENTERED INTO BANCOAGRICOLA S.A., INVERSIONES FINANCIERAS BANCO AGRÍCOLA AND SURAMERICANA S.A..

1.              SALE – PURPOSE

Banagrícola S.A. and Inversiones Financieras Banco Agrícola S.A., subsidiaries of Bancolombia S.A., and Suramericana S.A., signed an agreement pursuant to which Banagrícola S.A. and Inversiones Financieras Banco Agrícola S.A. agreed to sell to Suramericana 97.03% of its shares of capital stock of Asesuisa, an insurance company in the Republic of El Salvador.

2.              PARTIES:

SELLER: Banagricola S.A. and Inversiones Fianncieras Banco Agricola S.A.

BUYER: Suramericana S.A.

3.              PRICE:

Banagrícola S.A. and Inversiones Financieras Banco Agrícola S.A. will receive a total of USD 98,000 as payment for the shares

4.              CONDITIONS OF THE TRANSACTION:

The sale is subject to the fulfillment of certain previous conditions including the authorizations required from the Superintendence of the Financial System of El Salvador.

  

  

  

EXHIBIT 4.1

ENGLISH SUMMARY OF THE SALE AGREEMENT OF AFP CRECER ENTERED INTO BANCOAGRÍCOLA S.A., INVERSIONES FINANCIERAS BANCO AGRÍCOLA AND PROTECCION S.A. SOCIEDAD ADMINISTRADORA DE FONDOS DE PENSIONES Y CESANTIAS.

1.    SALE – PURPOSE

Banagrícola S.A. and Inversiones Financieras Banco Agrícola S.A., subsidiaries of Bancolombia S.A., and Protección S.A. Sociedad Administradora de Fondos de Pensiones y Cesantias (“Protección S.A.”), signed a contract where Banagrícola S.A. and Inversiones Financieras Banco Agrícola S.A. sell to Protección S.A. its shares equivalent to 99.99% of the capital stock of AFP Crecer, organization administrator of pensions funds in the Republic of El Salvador.

2.    PARTIES

SELLER: Banagrícola S.A. and Inversiones Financieras Banco Agrícola S.A.

BUYER: Protección S.A.

3.    PRICE:

Banagrícola S.A. e Inversiones Financieras Banco Agrícola S.A. will receive a total of USD 103,000 as payment for the shares.

4.    CONDITIONS TO THE TRANSACTION:

The sale is subject to the fulfillment of certain previous conditions including the authorizations required from the Superintendence of Pensions of El Salvador and of the Financial Superintendence of Colombia.

  

  

  

ENGLISH SUMMARY OF THE SALE AGREEMENT OF A SEVERAL REAL ESTATE PROPIERTIES ENTERED INTO BANCOLOMBIA S.A.  AND FONDO DE CAPITAL PRIVADO INMOBILIARIO COLOMBIA.

1. SALE -PURPOSE:

The Seller hereby sells and, transfers to the Purchaser   several real estate properties which form part of the “San Martin” building complex located in Bogotá, Colombia, which is administered by Fiduciaria Bancolombia.

2. PARTIES:

PURCHASER: Fondo de Capital Privado Inmobiliario Colombia.

SELLER: Bancolombia S.A.

3. PRICE:

Pursuant to this transaction, Bancolombia assigned to Fondo de Capital Privado Inmobiliario Colombia the property of 13 real estate in exchange for COP 53.232 billion, which has already been paid to Bancolombia, and the transfer of 9 real estate properties for a value of COP 13.952  billion  in exchange for increased ownership interests in the Fondo de Capital Privado Colombia Inmobiliaria  Bancolombia S.A. will remain in the building as a renter

  

  

  

EXHIBIT 4.1

ENGLISH SUMMARY OF THE DISSOLVED OF SINESA HOLDING COMPANY, SUBSIDIARY OF BANCOLOMBIA.

As part of a simplification process of the structure of the subsidiaries of Bancolombia Panama, the Financial Vice -Presidency  of Bancolombia S.A. decided to dissolve Sinesa Holding, a subsidiary of Sistema de Inversiones y Negocios, S.A. (SINESA), subsidiary of Bancolombia Panamá.

Based on the above and considering that there were no liabilities all assets owned Sinesa Holding became part of Sistema de Inversiones y Negocios, S.A. (SINESA).

Future net was a subsidiary of Sinesa Holding. After its dissolution, Future Net was transferred to SINESA. Future Net is currently involved in a dissolution process.

As a result of the simplification process, Bancolombia Panama will have Bancolombia Cayman and Sistema de Inversiones y Negocios, S.A. (SINESA)  as subsidiaries.

  

  

  

EXHIBIT 4.1

ENGLISH SUMMARY OF THE INCORPORATION OF A NEW COMPANY NAMED COBRANZAS BANCOLOMBIA S.A. AFTER A CORPORATE BREAK-UP OF TUYA S.A. COMPAÑÍA DE FINANCIAMIENTO 

1.      PURPOSE:

Tuya S.A. Compañía de Financiamiento advanced in a corporate break-up and as a result, a new company named Cobranzas Bancolombia S.A., incorporated with portion of tuya ́s assets of COP 95.000, was created.

1.     PARTIES

	
Stockholders

	 	
Stock amount

	 	 	
Participation

percentage

	 
	
Bancolombia S.A.

	 	 	5.500.057.491	 	 	 	94.89	%
	
Fondo de Empleados de Bancolombia FEBANC

	 	 	386.231	 	 	 	0.01	%
	
Fundación Bancolombia

	 	 	387.966	 	 	 	0.01	%
	
Inmobiliaria Bancol S.A.

	 	 	1.849.013	 	 	 	0.03	%
	
Banca de inversión Bancolombia S.A. Corporación Financiera

	 	 	293.574.662	 	 	 	5.06	%
	
TOTAL

	 	 	5.796.255.363	 	 	 	100	%

As of December 31, 2010 Cobranzas Bancolombia S.A. is dissolved and under the process of liquidation.  Tuya S.A, the spun off company, continues developing its objective as compañía de financiamientoExhibit 10.1

                         PRIVATE PLACEMENT SUBSCRIPTION

                          AMERICAN PARAMOUNT GOLD CORP.

                                PRIVATE PLACEMENT

                           INSTRUCTIONS TO SUBSCRIBER:

1.   COMPLETE the information on page 2 of this Subscription Agreement.

2.   IF RESIDENT IN THE UNITED STATES, COMPLETE the Prospective Investor
     Suitability Questionnaire attached as Appendix 1 to this Subscription
     Agreement and the Canadian Questionnaire attached as Appendix 2 to this
     Subscription Agreement.

3.   IF RESIDENT IN CANADA, COMPLETE the Canadian Questionnaire attached as
     Appendix 2 to this Subscription Agreement only.

4.   COURIER the originally executed copy of the entire Subscription Agreement,
     together with the Questionnaire, to the Company at:

                          AMERICAN PARAMOUNT GOLD CORP.
                        130 King Street West, Suite 3670
                               Toronto, ON M5X 1A9
                              Attention: Hugh Aird

If you have any questions please contact Hugh Aird, Chief Executive Officer of
the Company, at: 416.214.5640
<PAGE>
                                      -2-

                    PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT

TO: American Paramount Gold Corp. (the "Company")

Subject and pursuant to the attached "Terms and Conditions" of this Subscription
Agreement,   including  all  schedules  and  appendices   attached  hereto,  the
Subscriber  hereby  irrevocably  subscribes  for, and on the Closing Date,  will
purchase from the Company, the following securities at the following price:

                             _______________ SHARES

US$___ per Share for a total purchase price of US$_____________________

The Subscriber  owns,  directly or indirectly,  the following  securities of the
Company:

[CHECK IF APPLICABLE]  The Subscriber is |X| an affiliate of the Company

The  Subscriber  directs  the  Company  to  issue,   register  and  deliver  the
certificates representing the Shares as follows:

<TABLE>
<CAPTION>
<S>                                                         <C>
        REGISTRATION INSTRUCTIONS                                       DELIVERY INSTRUCTIONS

Name to appear on certificate                                 Name and account reference, if applicable

Account reference if applicable                               Contact name

Address                                                       Address

Tax I.D./E.I.N./S.S.N.                                        Telephone Number

EXECUTED by the Subscriber this _______ day of _____________, 20__.

              WITNESS:                                                 EXECUTION BY SUBSCRIBER:

                                                              X
                                                              Signature of individual (if Subscriber IS an
Signature of Witness                                          individual)

                                                              X
                                                              Authorized signatory (if Subscriber IS NOT an
Name of Witness                                               individual)

Address of Witness                                            Name of Subscriber (PLEASE PRINT)

                                                              Name of authorized signatory (PLEASE PRINT)

ACCEPTED and EFFECTIVE this ______day of
____________________, 20____

AMERICAN PARAMOUNT GOLD CORP.                                 Address of Subscriber (residence)

per:

                                                              Telephone Number

Authorized Signatory

                                                              E-mail address

                                                              Social Security/Insurance No.:
</TABLE>

By signing this  acceptance,  the Subscriber  agrees to be bound by the term and
conditions of this Subscription Agreement.
<PAGE>
                                      -3-

NONE OF THE SECURITIES TO WHICH THIS PRIVATE  PLACEMENT  SUBSCRIPTION  AGREEMENT
(THE  "SUBSCRIPTION  AGREEMENT")  RELATES HAVE BEEN REGISTERED  UNDER THE UNITED
STATES  SECURITIES  ACT OF 1933, AS AMENDED (THE "1933 ACT"),  OR ANY U.S. STATE
SECURITIES  LAWS, AND, UNLESS SO REGISTERED,  NONE MAY BE OFFERED OR SOLD IN THE
UNITED STATES OR,  DIRECTLY OR INDIRECTLY,  TO U.S.  PERSONS (AS DEFINED HEREIN)
EXCEPT  PURSUANT TO AN EXEMPTION  FROM, OR IN A TRANSACTION  NOT SUBJECT TO, THE
REGISTRATION  REQUIREMENTS  OF THE 1933 ACT AND IN EACH CASE ONLY IN  ACCORDANCE
WITH APPLICABLE STATE SECURITIES LAWS.

                              TERMS AND CONDITIONS

1. SUBSCRIPTION

1.1 The undersigned (the  "Subscriber")  hereby  irrevocably  subscribes for and
agrees to  purchase  the  number of shares of the  Company's  common  stock (the
"Shares")  as set out on page 2 of this  Subscription  Agreement  at a price  of
US$0.15  per Share  (such  subscription  and  agreement  to  purchase  being the
"Subscription"),  for the total  subscription price as set out on page 2 of this
Subscription  Agreement  (the  "Subscription   Proceeds"),   which  Subscription
Proceeds  are  tendered  herewith,  on  the  basis  of the  representations  and
warranties and subject to the terms and conditions set forth herein.

1.2 The Company hereby agrees to sell, on the basis of the  representations  and
warranties  and subject to the terms and  conditions  set forth  herein,  to the
Subscriber the Shares.  Subject to the terms hereof, the Subscription  Agreement
will be effective upon its acceptance by the Company.

1.3  Unless  otherwise  provided,   all  dollar  amounts  referred  to  in  this
Subscription Agreement are in lawful money of the United States of America.

2. PAYMENT

2.1 The  Parties  acknowledge  and agree  that the Shares  hereby  issued are in
consideration of services rendered to the Company by the Subscriber  pursuant to
a consulting agreement between the parties dated April 30, 2010.

3. QUESTIONNAIRES AND UNDERTAKING AND DIRECTION

3.1 The Subscriber  must complete,  sign and return to the Company the following
documents:

     (a)  One (1) executed copy of this Subscription Agreement;

     (b)  the US  Questionnaire  in  the  form  attached  as  Appendix  1 if the
          Subscriber is resident in the United States; and

     (c)  the Canadian  Questionnaire  in the form attached as Appendix 2 if the
          Subscriber is resident in Canada.

3.2 The  Subscriber  shall  complete,  sign and return to the Company as soon as
possible, on request by the Company, any documents, questionnaires,  notices and
undertakings as may be required by regulatory  authorities,  stock exchanges and
applicable law.

4. CLOSING

4.1  Closing  of the  purchase  and sale of the  Shares  shall be  deemed  to be
effective  on  such  date  as  may be  determined  by the  Company  in its  sole
discretion (the "Closing Date"). The Subscriber  acknowledges that Shares may be
issued to other subscribers under this offering (the "Offering") before or after
the  Closing  Date.  The  Company,  may, at its  discretion,  elect to close the
Offering in one or more closings,  in which event the Company may agree with one
or more subscribers (including the Subscriber hereunder) to complete delivery of
the Shares to such  subscriber(s)  against  payment  therefore at any time on or
prior to the Closing Date.
<PAGE>
                                      -4-

5. ACKNOWLEDGEMENTS OF SUBSCRIBER

5.1 The Subscriber acknowledges and agrees that:

     (a)  none of the Shares have been  registered  under the 1933 Act, or under
          any state  securities  or "blue  sky" laws of any state of the  United
          States,  and, unless so registered,  may not be offered or sold in the
          United  States  or to  U.S.  Persons,  as  that  term  is  defined  in
          Regulation S under the 1933 Act  ("Regulation  S"), except pursuant to
          an  exemption   from,  or  in  a  transaction   not  subject  to,  the
          registration requirements of the 1933 Act;

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

     (c)  the decision to execute this  Subscription  Agreement and purchase the
          Shares  agreed to be purchased  hereunder  has not been based upon any
          oral or written  representation  as to fact or otherwise made by or on
          behalf of the Company. If the Company has presented a business plan to
          the Subscriber, the Subscriber acknowledges that the business plan may
          not be achieved or be achievable;

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

     (e)  by  completing   the  Canadian   Questionnaire,   the   Subscriber  is
          representing  and warranting that the Subscriber  satisfies one of the
          categories of registration and prospectus  exemptions  provided for in
          National  Instrument  45-106  ("NI  45-106")  adopted by the  Canadian
          Securities Administrators (the "CSA");

     (f)  the decision to execute this  Subscription  Agreement and purchase the
          Shares  agreed to be purchased  hereunder  has not been based upon any
          oral or written  representation  as to fact or otherwise made by or on
          behalf of the Company and such  decision is based solely upon a review
          of  information  regarding the Company  provided by the Company to the
          Subscriber (the "Company Information");

     (g)  the Subscriber and the  Subscriber's  advisor(s) have had a reasonable
          opportunity to review the Company  Information and to ask questions of
          and receive  answers from the Company  regarding the Offering,  and to
          obtain additional  information,  to the extent possessed or obtainable
          without  unreasonable  effort or  expense,  necessary  to  verify  the
          accuracy of the information  contained in the Company Information,  or
          any other document provided to the Subscriber;

     (h)  the books and records of the Company were  available  upon  reasonable
          notice   for   inspection,    subject   to   certain   confidentiality
          restrictions,  by Subscribers during reasonable  business hours at its
          principal place of business and that all documents,  records and books
          in  connection  with the sale of the Shares  hereunder  have been made
          available for inspection by the Subscriber,  the Subscriber's attorney
          and/or advisor(s);

     (i)  by execution of this Subscription  Agreement the Subscriber has waived
          the need for the Company to communicate its acceptance of the purchase
          of the Shares pursuant to this Subscription Agreement;

     (j)  all  information  which the  Subscriber has provided to the Company in
          the  Questionnaire  is  correct  and  complete  as  of  the  date  the
          Questionnaire  is  signed,  and if there  should be any change in such
          information  prior to the Subscription  being accepted by the Company,
          the  Subscriber  will  immediately   provide  the  Company  with  such
          information;

     (k)  the Company is entitled to rely on the  representations and warranties
          and the  statements  and answers of the  Subscriber  contained in this
          Subscription  Agreement and in the  Questionnaire,  and the Subscriber
          will hold  harmless  the Company from any loss or damage it may suffer
          as a result of the  Subscriber's  failure to correctly  complete  this
          Subscription Agreement or the Questionnaire;
<PAGE>
                                      -5-

     (l)  the Subscriber will indemnify and hold harmless the Company and, where
          applicable,  its respective directors,  officers,  employees,  agents,
          advisors  and  shareholders   from  and  against  any  and  all  loss,
          liability,  claim, damage and expense whatsoever  (including,  but not
          limited to, any and all fees, costs and expenses whatsoever reasonably
          incurred in  investigating,  preparing or defending against any claim,
          lawsuit,  administrative proceeding or investigation whether commenced
          or  threatened)  arising  out of or based upon any  representation  or
          warranty  of  the  Subscriber  contained  herein  or in  any  document
          furnished  by the  Subscriber  to the Company in  connection  herewith
          being untrue in any  material  respect or any breach or failure by the
          Subscriber  to  comply  with any  covenant  or  agreement  made by the
          Subscriber to the Company in connection therewith;

     (m)  the  issuance  and sale of the  Shares to the  Subscriber  will not be
          completed  if it would be  unlawful  or if, in the  discretion  of the
          Company  acting  reasonably,  it is not in the best  interests  of the
          Company;

     (n)  the Subscriber has been advised to consult the Subscriber's own legal,
          tax and other  advisors  with  respect  to the  merits and risks of an
          investment  in the Shares and with  respect to the  applicable  resale
          restrictions,  and it is solely responsible (and the Company is not in
          any way responsible) for compliance with:

          (i)  any applicable  laws of the  jurisdiction in which the Subscriber
               is resident in  connection  with the  distribution  of the Shares
               hereunder, and

          (ii) applicable resale restrictions;

     (o)  none  of  the  Shares  are  listed  on  any  stock   exchange  and  no
          representation  has been made to the Subscriber that any of the Shares
          will become listed on any stock exchange or automated dealer quotation
          system;

     (p)  the  Subscriber  is  acquiring  the  Shares as  principal  for its own
          account, for investment purposes only, and not with a view to, or for,
          resale,  distribution  or  fractionalization  thereof,  in whole or in
          part, and no other person has a direct or indirect beneficial interest
          in such Shares;

     (q)  the  Subscriber is acquiring the Shares  pursuant to an exemption from
          the registration and prospectus  requirements of applicable securities
          legislation in all jurisdictions  relevant to this Subscription,  and,
          as a consequence,  the Subscriber  will not be entitled to use most of
          the civil remedies available under applicable  securities  legislation
          and the Subscriber will not receive  information  that would otherwise
          be required to be provided to the  Subscriber  pursuant to  applicable
          securities legislation;

     (r)  the Subscriber has been advised that the business of the Company is in
          a start-up phase and acknowledges  that there is no assurance that the
          Company  will raise  sufficient  funds to  adequately  capitalize  the
          business or that the business will be profitable in the future;

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

     (t)  there is no government or other insurance  covering any of the Shares;
          and

     (u)  this  Subscription  Agreement  is not  enforceable  by the  Subscriber
          unless it has been accepted by the Company.

6. REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE SUBSCRIBER

6.1 The  Subscriber  hereby  represents  and warrants to and covenants  with the
Company  (which  representations,  warranties  and  covenants  shall survive the
Closing) that:

     (a)  the  Subscriber  is resident in the  jurisdiction  set forth on page 2
          underneath the Subscriber's name and signature;
<PAGE>
                                      -6-

     (b)  the Subscriber has the legal capacity and competence to enter into and
          execute this  Subscription  Agreement and to take all actions required
          pursuant  hereto and, if the Subscriber is a  corporation,  it is duly
          incorporated and validly subsisting under the laws of its jurisdiction
          of  incorporation  and  all  necessary  approvals  by  its  directors,
          shareholders and others have been obtained to authorize  execution and
          performance   of  this   Subscription   Agreement  on  behalf  of  the
          Subscriber;

     (c)  the  Subscriber  (i) has adequate net worth and means of providing for
          its current financial needs and possible personal contingencies,  (ii)
          has no need for  liquidity  in this  investment,  and (iii) is able to
          bear  the  economic  risks  of an  investment  in  the  Shares  for an
          indefinite period of time;

     (d)  the Subscriber has made an independent  examination and  investigation
          of an investment in the Shares and the Company and has depended on the
          advice of its legal and financial advisors and agrees that the Company
          will not be  responsible  in anyway  whatsoever  for the  Subscriber's
          decision to invest in the Shares and the Company;

     (e)  all  information  contained  in  the  Questionnaire  is  complete  and
          accurate and may be relied upon by the Company and the Subscriber will
          notify the  Company  immediately  of any  material  change in any such
          information  occurring  prior to the  closing of the  purchase  of the
          Shares;

     (f)  the entering into of this Subscription  Agreement and the transactions
          contemplated hereby do not result in the violation of any of the terms
          and provisions of any law  applicable to, or the constating  documents
          of, the Subscriber or of any agreement,  written or oral, to which the
          Subscriber  may be a party or by  which  the  Subscriber  is or may be
          bound;

     (g)  the  Subscriber  has duly  executed and  delivered  this  Subscription
          Agreement  and it  constitutes  a valid and binding  agreement  of the
          Subscriber enforceable against the Subscriber;

     (h)  the  Subscriber  understands  and agrees  that none of the Shares have
          been registered  under the 1933 Act or any state securities laws, and,
          unless so registered, none may be offered or sold in the United States
          or, directly or indirectly, to U.S. Persons (as defined herein) except
          pursuant to an exemption from, or in a transaction not subject to, the
          Registration  Requirements  of the 1933 Act and in each  case  only in
          accordance with state securities laws;

     (i)  the  Subscriber  is  purchasing  the  Shares for its own  account  for
          investment  purposes  only and not for the account of any other person
          and not for distribution, assignment or resale to others, and no other
          person has a direct or indirect  beneficial  interest is such  Shares,
          and the  Subscriber has not subdivided his interest in the Shares with
          any other person;

     (j)  the Subscriber is able to fend for itself in the  Subscription and has
          the ability to bear the economic risks of its  prospective  investment
          and can afford the complete loss of such investment;

     (k)  if the  Subscriber is acquiring the Shares as a fiduciary or agent for
          one or more investor accounts,  it has sole investment discretion with
          respect  to each  such  account  and it has  full  power  to make  the
          foregoing acknowledgments, representations and agreements on behalf of
          such account;

     (l)  the Subscriber understands and agrees that the Company and others will
          rely   upon  the   truth   and   accuracy   of  the   acknowledgments,
          representations  and  agreements  contained in sections 5 and 0 hereof
          and agrees that if any of such  acknowledgments,  representations  and
          agreements  are no longer  accurate  or have been  breached,  it shall
          promptly notify the Company;

     (m)  if not resident in the United States, the Subscriber:

          (i)  is knowledgeable of, or has been independently advised as to, the
               applicable  securities laws of the securities  regulators  having
               application  in the  jurisdiction  in  which  the  Subscriber  is
               resident (the "International  Jurisdiction") which would apply to
               the acquisition of the Shares,
<PAGE>
                                      -7-

          (ii) is purchasing the Shares  pursuant to exemptions  from prospectus
               or equivalent  requirements under applicable  securities laws or,
               if  such  is not  applicable,  the  Subscriber  is  permitted  to
               purchase the Shares under the applicable  securities  laws of the
               securities  regulators in the International  Jurisdiction without
               the need to rely on any exemptions,

          (iii)acknowledges   that  the  applicable   securities   laws  of  the
               authorities in the International  Jurisdiction do not require the
               Company  to make any  filings or seek any  approvals  of any kind
               whatsoever  from any securities  regulator of any kind whatsoever
               in the  International  Jurisdiction  in connection with the issue
               and sale or resale of any of the Securities, and

          (iv) represents and warrants that the acquisition of the Shares by the
               Subscriber does not trigger:

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

               B.   any  continuous   disclosure  reporting  obligation  of  the
                    Company in the International Jurisdiction, and

     (n)  the  Subscriber  will,  if requested  by the  Company,  deliver to the
          Company  a   certificate   or  opinion  of  local   counsel  from  the
          International  Jurisdiction which will confirm the matters referred to
          in  subparagraphs 0, 0 and 0 above to the satisfaction of the Company,
          acting reasonably

     (o)  the  Subscriber is not acquiring the Shares as a result of any form of
          general solicitation or general advertising including  advertisements,
          articles,  notices or other communications published in any newspaper,
          magazine or similar media or broadcast over radio,  or television,  or
          any seminar or meeting  whose  attendees  have been invited by general
          solicitation or general advertising;

     (p)  no  person   has  made  to  the   Subscriber   any   written  or  oral
          representations:

          (i)  that any person will resell or repurchase any of the Shares;

          (ii) that any  person  will  refund the  purchase  price of any of the
               Shares;

          (iii) as to the future price or value of any of the Shares; or

          (iv) that any of the Shares  will be listed and posted for  trading on
               any stock exchange or automated  dealer  quotation system or that
               application  has been made to list and post any of the  Shares of
               the Company on any stock exchange or automated  dealer  quotation
               system.

6.2 In this  Subscription  Agreement,  the term  "U.S.  Person"  shall  have the
meaning ascribed thereto in Regulation S and for the purpose of the Subscription
includes any person in the United States.

7. ACKNOWLEDGEMENT AND WAIVER

7.1 The Subscriber has acknowledged that the decision to purchase the Shares was
solely  made on the basis of  publicly  available  information.  The  Subscriber
hereby waives, to the fullest extent permitted by law, any rights of withdrawal,
rescission or compensation for damages to which the Subscriber might be entitled
in connection with the distribution of any of the Shares.

8. REPRESENTATIONS AND WARRANTIES WILL BE RELIED UPON BY THE COMPANY

8.1  The  Subscriber   acknowledges  that  the  representations  and  warranties
contained  herein are made by it with the intention that they may be relied upon
by the Company and its legal counsel in determining the Subscriber's eligibility
to  purchase  the  Shares  under  applicable  securities  legislation,   or  (if
applicable)  the  eligibility  of  others  on  whose  behalf  it is  contracting
hereunder to purchase the Shares under applicable  securities  legislation.  The
Subscriber  further  agrees  that  by  accepting  delivery  of the  certificates
representing  the  Shares  on the  Closing  Date,  it will be  representing  and
<PAGE>
                                      -8-

warranting that the representations and warranties contained herein are true and
correct  as at the  Closing  Date with the same  force and effect as if they had
been made by the  Subscriber  at the Closing Date and that they will survive the
purchase  by the  Subscriber  of the Shares and will  continue in full force and
effect  notwithstanding  any  subsequent  disposition  by the Subscriber of such
Shares.

9. RESALE RESTRICTIONS

9.1 The Subscriber acknowledges that any resale of the Shares will be subject to
resale restrictions  contained in the securities  legislation applicable to each
Subscriber  or  proposed  transferee  as  set  forth  in  paragraph  0  of  this
Subscription  Agreement.  The  Shares  may not be  offered or sold in the United
States  unless  registered in accordance  with federal  securities  laws and all
applicable   state   securities  laws  or  exemptions  from  such   registration
requirements are available.

10. LEGENDING AND REGISTRATION OF SUBJECT SECURITIES

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

If the Subscriber is a US person:

        "NONE  OF  THE   SECURITIES  TO  WHICH  THIS  PRIVATE   PLACEMENT
        SUBSCRIPTION  AGREEMENT (THE  "SUBSCRIPTION  AGREEMENT")  RELATES
        HAVE BEEN  REGISTERED  UNDER THE UNITED STATES  SECURITIES ACT OF
        1933, AS AMENDED (THE "1933 ACT"),  OR ANY U.S. STATE  SECURITIES
        LAWS, AND,  UNLESS SO REGISTERED,  NONE MAY BE OFFERED OR SOLD IN
        THE UNITED STATES OR, DIRECTLY OR INDIRECTLY, TO U.S. PERSONS (AS
        DEFINED  HEREIN)  EXCEPT  PURSUANT TO AN EXEMPTION  FROM, OR IN A
        TRANSACTION NOT SUBJECT TO, THE REGISTRATION  REQUIREMENTS OF THE
        1933 ACT AND IN EACH  CASE  ONLY IN  ACCORDANCE  WITH  APPLICABLE
        STATE SECURITIES LAWS."

If the Subscriber is a non-US person:

        THE  SECURITIES  REPRESENTED  HEREBY  HAVE  BEEN  OFFERED  IN  AN
        OFFSHORE  TRANSACTION  TO A PERSON  WHO IS NOT A U.S.  PERSON (AS
        DEFINED HEREIN)  PURSUANT TO REGULATION S UNDER THE UNITED STATES
        SECURITIES ACT OF 1933, AS AMENDED (THE "1933 ACT").

        NONE OF THE SECURITIES  REPRESENTED  HEREBY HAVE BEEN  REGISTERED
        UNDER THE 1933  ACT,  OR ANY U.S.  STATE  SECURITIES  LAWS,  AND,
        UNLESS SO  REGISTERED,  MAY NOT BE OFFERED OR SOLD,  DIRECTLY  OR
        INDIRECTLY,  IN THE UNITED STATES (AS DEFINED  HEREIN) OR TO U.S.
        PERSONS EXCEPT IN ACCORDANCE  WITH THE PROVISIONS OF REGULATION S
        UNDER  THE  1933  ACT,  PURSUANT  TO  AN  EFFECTIVE  REGISTRATION
        STATEMENT  UNDER  THE  1933  ACT,  OR  PURSUANT  TO AN  AVAILABLE
        EXEMPTION   FROM,  OR  IN  A  TRANSACTION  NOT  SUBJECT  TO,  THE
        REGISTRATION  REQUIREMENTS  OF THE 1933 ACT AND IN EACH CASE ONLY
        IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. IN ADDITION,
        HEDGING   TRANSACTIONS   INVOLVING  THE  SECURITIES  MAY  NOT  BE
        CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933 ACT. "UNITED STATES"
        AND "U.S.  PERSON" ARE AS DEFINED BY  REGULATION S UNDER THE 1933
        ACT.

10.2 The  Subscriber  hereby  acknowledges  and agrees to the  Company  making a
notation on its records or giving  instructions  to the  registrar  and transfer
agent of the Company in order to  implement  the  restrictions  on transfer  set
forth and described in this Subscription Agreement.
<PAGE>
                                      -9-

11. COLLECTION OF PERSONAL INFORMATION

11.1 The  Subscriber  acknowledges  and consents to the fact that the Company is
collecting the Subscriber's  personal  information for the purpose of fulfilling
this  Subscription  Agreement  and  completing  the Offering.  The  Subscriber's
personal  information (and, if applicable,  the personal information of those on
whose behalf the  Subscriber is  contracting  hereunder) may be disclosed by the
Company to (a) stock  exchanges or securities  regulatory  authorities,  (b) the
Company's registrar and transfer agent and (c) any of the other parties involved
in the Offering, including legal counsel, and may be included in record books in
connection  with the Offering.  By executing this  Subscription  Agreement,  the
Subscriber  is deemed to be  consenting  to the  foregoing  collection,  use and
disclosure of the Subscriber's  personal  information  (and, if applicable,  the
personal  information  of those on whose behalf the  Subscriber  is  contracting
hereunder)  and to the  retention of such  personal  information  for as long as
permitted  or  required by law or business  practice.  Notwithstanding  that the
Subscriber  may be  purchasing  Shares  as agent  on  behalf  of an  undisclosed
principal,  the Subscriber agrees to provide, on request,  particulars as to the
identity  of such  undisclosed  principal  as may be  required by the Company in
order to comply with the foregoing.

12. COSTS

12.1 The Subscriber acknowledges and agrees that all costs and expenses incurred
by the Subscriber  (including any fees and  disbursements of any special counsel
retained  by the  Subscriber)  relating to the  purchase of the Shares  shall be
borne by the Subscriber.

13. GOVERNING LAW

13.1 This Subscription  Agreement is governed by the laws of the State of Nevada
and the federal laws  applicable  therein.  The  Subscriber,  in its personal or
corporate  capacity and, if applicable,  on behalf of each beneficial  purchaser
for whom it is acting,  irrevocably  attorns to the jurisdiction of the State of
Nevada.

14. SURVIVAL

14.1   This   Subscription   Agreement,   including   without   limitation   the
representations,  warranties and covenants  contained herein,  shall survive and
continue  in full  force and  effect  and be  binding  upon the  parties  hereto
notwithstanding  the  completion of the purchase of the Shares by the Subscriber
pursuant hereto.

15. ASSIGNMENT

15.1 This Subscription Agreement is not transferable or assignable.

16. EXECUTION

16.1 The Company  shall be entitled to rely on delivery by facsimile  machine of
an executed copy of this Subscription Agreement and acceptance by the Company of
such  facsimile  copy shall be equally  effective  to create a valid and binding
agreement  between the Subscriber  and the Company in accordance  with the terms
hereof.

17. SEVERABILITY

17.1 The  invalidity or  unenforceability  of any  particular  provision of this
Subscription  Agreement shall not affect or limit the validity or enforceability
of the remaining provisions of this Subscription Agreement.

18. ENTIRE AGREEMENT

18.1 Except as  expressly  provided in this  Subscription  Agreement  and in the
agreements, instruments and other documents contemplated or provided for herein,
this  Subscription  Agreement  contains the entire agreement between the parties
with respect to the sale of the Shares and there are no other terms, conditions,
representations or warranties,  whether expressed,  implied, oral or written, by
statute or common law, by the Company or by anyone else.
<PAGE>
                                      -10-

19. NOTICES

19.1 All  notices  and other  communications  hereunder  shall be in writing and
shall be deemed to have been duly given if mailed or transmitted by any standard
form of  telecommunication.  Notices to the Subscriber  shall be directed to the
address on page 2 and  notices to the  Company  shall be  directed  to it at the
first page of this Subscription Agreement.

20. COUNTERPARTS AND ELECTRONIC MEANS

20.1 This Subscription  Agreement may be executed in any number of counterparts,
each of which, when so executed and delivered,  shall constitute an original and
all of which together shall  constitute one instrument.  Delivery of an executed
copy of this  Subscription  Agreement by electronic  facsimile  transmission  or
other means of electronic communication capable of producing a printed copy will
be deemed to be execution and delivery of this Subscription  Agreement as of the
date hereinafter set forth.
<PAGE>
                                      -11-

                                   APPENDIX 1

                 PROSPECTIVE INVESTOR SUITABILITY QUESTIONNAIRE

All  capitalized  terms  herein,  unless  otherwise  defined,  have the meanings
ascribed thereto in the Subscription Agreement.

This  Questionnaire  is for use by each  Subscriber  who is a US person (as that
term is defined  Regulation S of the United States  Securities  Act of 1933 (the
"1933  Act")) and has  indicated  an interest in  purchasing  Shares of American
Paramount Gold Corp. (the  "Company").  The purpose of this  Questionnaire is to
assure the Company that each Subscriber  will meet the standards  imposed by the
1933 Act and the appropriate exemptions of applicable state securities laws. The
Company will rely on the  information  contained in this  Questionnaire  for the
purposes of such determination. The Shares will not be registered under the 1933
Act in reliance upon the exemption  from  registration  afforded by Section 3(b)
and/or  Section  4(6) of the 1933  Act.  This  Questionnaire  is not an offer of
Shares or any other  securities  of the  Company  in any state  other than those
specifically authorized by the Company.

All information contained in this Questionnaire will be treated as confidential.
However,  by signing and returning this  Questionnaire,  each Subscriber  agrees
that, if necessary,  this  Questionnaire may be presented to such parties as the
Company deems appropriate to establish the  availability,  under the 1933 Act or
applicable  state  securities law, of exemption from  registration in connection
with the sale of the Shares hereunder.

The  Subscriber  covenants,  represents  and  warrants  to the  Company  that it
satisfies one or more of the categories of "Accredited Investors", as defined by
Regulation D promulgated under the 1933 Act, as indicated below: (Please initial
in the space provide those categories, if any, of an "Accredited Investor" which
the Subscriber satisfies)

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

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

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

     ____ Category 4    A "bank" as defined under Section  (3)(a)(2) of the 1933
                        Act or savings and loan association or other institution
                        as defined in Section  3(a)(5)(A) of the 1933 Act acting
                        in its individual or fiduciary capacity; a broker dealer
                        registered  pursuant  to  Section  15 of the  SECURITIES
                        EXCHANGE  ACT OF  1934  (United  States);  an  insurance
                        company as defined in Section  2(13) of the 1933 Act; an
                        investment   company  registered  under  the  INVESTMENT
                        COMPANY  ACT  OF  1940  (United  States)  or a  business
                        development  company as defined in Section  2(a)(48)  of
                        such Act; a Small Business  Investment  Company licensed
                        by the U.S. Small Business  Administration under Section
                        301(c) or (d) of the SMALL  BUSINESS  INVESTMENT  ACT OF
                        1958 (United States); a plan with total assets in excess
                        of $5,000,000  established  and maintained by a state, a
                        political   subdivision   thereof,   or  an   agency  or
                        instrumentality  of a state or a  political  subdivision
                        thereof,  for the benefit of its employees;  an employee
                        benefit   plan  within  the  meaning  of  the   EMPLOYEE
                        RETIREMENT  INCOME  SECURITY ACT OF 1974 (United States)
                        whose investment decisions are made by a plan fiduciary,
<PAGE>
                                      -12-

                        as defined in Section 3(21) of such Act, which is either
                        a bank, savings and loan association,  insurance company
                        or  registered  investment  adviser,  or if the employee
                        benefit plan has total  assets in excess of  $5,000,000,
                        or, if a self-directed plan, whose investment  decisions
                        are  made   solely  by  persons   that  are   accredited
                        investors;

     ____ Category 5    A private  business  development  company  as defined in
                        Section  202(a)(22)  of the  INVESTMENT  ADVISERS ACT OF
                        1940 (United States);

     ____ Category 6    A director or executive officer of the Company;

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

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

     Note that  prospective  Subscribers  claiming  to satisfy  one of the above
     categories  of  Accredited  Investor  may be required to supply the Company
     with a balance  sheet,  prior  years'  federal  income tax returns or other
     appropriate  documentation  to verify  and  substantiate  the  Subscriber's
     status as an Accredited Investor.

If the Subscriber is an entity which initialled  Category 8 in reliance upon the
Accredited Investor  categories above, state the name,  address,  total personal
income  from all  sources  for the  previous  calendar  year,  and the net worth
(exclusive of home, home  furnishings and personal  automobiles) for each equity
owner of the said entity:

The  Subscriber  hereby  certifies  that  the  information   contained  in  this
Questionnaire  is  complete  and  accurate  and the  Subscriber  will notify the
Company promptly of any change in any such information. If this Questionnaire is
being completed on behalf of a corporation,  partnership,  trust or estate,  the
person  executing  on  behalf  of the  Subscriber  represents  that  it has  the
authority to execute and deliver this Questionnaire on behalf of such entity.

IN WITNESS  WHEREOF,  the undersigned has executed this  Questionnaire as of the
______ day of _______, ____.

If a Corporation, Partnership                If an Individual:
or Other Entity:

__________________________________           __________________________________
Print of Type Name of Entity                 Signature

__________________________________           __________________________________
Signature of Authorized Signatory            Print or Type Name

__________________________________           __________________________________
Type of Entity and Tax I.D. No.              Social Security/Tax I.D. No.
<PAGE>
                                      -13-

  ALL SUBSCRIBERS RESIDENT IN CANADA MUST COMPLETE THE CANADIAN QUESTIONNAIRE.

                                   APPENDIX 2

                                   SCHEDULE A

                             CANADIAN QUESTIONNAIRE

All  capitalized  terms  herein,  unless  otherwise  defined,  have the meanings
ascribed thereto in the Subscription Agreement.

The purpose of this  Questionnaire  is to assure the Company that the Subscriber
will meet certain requirements of National Instrument 45-106 ("NI 45-106").  The
Company will rely on the  information  contained in this  Questionnaire  for the
purposes of such determination.

The Subscriber covenants, represents and warrants to the Company that:

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

     2.   the Subscriber is (TICK ONE OR MORE OF THE FOLLOWING BOXES):

          (A)  a  director,  executive  officer,  employee  or control     [ ]
               person of the Company or an affiliate of the Company

          (B)  a spouse, parent, grandparent, brother, sister or child     [ ]
               of a director,  executive  officer,  founder or control
               person of the Company or an affiliate of the Company

          (C)  a parent, grandparent,  brother, sister or child of the     [ ]
               spouse of a  director,  executive  officer,  founder or
               control  person of the Company or an  affiliate  of the
               Company

          (D)  a  close  personal  friend  of  a  director,  executive     [ ]
               officer, founder or control person of the Company

          (E)  a close  business  associate  of a director,  executive     [ ]
               officer, founder or control person of the Company or an
               affiliate of the Company

          (F)  an accredited investor                                      [ ]

          (G)  a  company,  partnership  or  other  entity  of which a     [ ]
               majority  of the  voting  securities  are  beneficially
               owned by, or a majority of the directors  are,  persons
               described in paragraphs A to F

          (H)  a trust or estate of which all of the  beneficiaries or     [ ]
               a majority  of the  trustees or  executors  are persons
               described in paragraphs A to F

          (I)  purchasing  as principal  Securities  with an aggregate     [ ]
               acquisition cost of not less than CDN$150,000
<PAGE>
                                      -14-

     3.   if the  Subscriber  has  checked  box B,  C, D, E, G or H in
          Section 2 above, the director, executive officer, founder or
          control person of the Company with whom the  undersigned has
          the relationship is:

          __________________________________________________________

          (INSTRUCTIONS  TO  SUBSCRIBER:  FILL IN THE  NAME  OF  EACH  DIRECTOR,
          EXECUTIVE  OFFICER,  FOUNDER  AND  CONTROL  PERSON  WHICH YOU HAVE THE
          ABOVE-MENTIONED  RELATIONSHIP  WITH.  IF YOU HAVE  CHECKED BOX G OR H,
          ALSO  INDICATE  WHICH  OF  A  TO  F  DESCRIBES  THE   SECURITYHOLDERS,
          DIRECTORS,  TRUSTEES OR BENEFICIARIES  WHICH QUALIFY YOU AS BOX G OR H
          AND PROVIDE THE NAMES OF THOSE  INDIVIDUALS.  PLEASE ATTACH A SEPARATE
          PAGE IF NECESSARY).

     4.   if the Subscriber is resident in Ontario,  the Subscriber is (TICK ONE
          OR MORE OF THE FOLLOWING BOXES):

          (A)  a founder of the Company                                    [ ]

          (B)  an affiliate of a founder of the Company                    [ ]

          (C)  a spouse, parent, brother, sister, grandparent or child     [ ]
               of a  director,  executive  officer  or  founder of the
               Company

          (D)  a person that is a control person of the Company            [ ]

          (E)  an accredited investor                                      [ ]

          (F)  purchasing  as principal  Securities  with an aggregate     [ ]
               acquisition cost of not less than CDN$150,000

     5.   if the Subscriber has checked box A, B, C or D in Section 4 above, the
          director,  executive officer, founder or control person of the Company
          with whom the undersigned has the relationship is:

          __________________________________________________________

          (INSTRUCTIONS  TO  SUBSCRIBER:  FILL IN THE  NAME  OF  EACH  DIRECTOR,
          EXECUTIVE  OFFICER,  FOUNDER,  AFFILIATE AND CONTROL  PERSON WHICH YOU
          HAVE THE ABOVE-MENTIONED RELATIONSHIP WITH.)

     6.   if the  Subscriber has ticked box F in Section 2 or box E in Section 4
          above,  the  Subscriber  satisfies  one or more of the  categories  of
          "accredited investor" (as that term is defined in NI 45-106) indicated
          below (please check the appropriate box):

          [ ]  (a) a Canadian  financial  institution  as  defined  in  National
               Instrument  14-101,  or an  authorized  foreign  bank  listed  in
               Schedule III of the BANK ACT (Canada);

          [ ]  (b) the Business  Development Bank of Canada  incorporated  under
               the BUSINESS DEVELOPMENT BANK ACT (Canada);

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

          [ ]  (d)  an  individual   registered  or  formerly  registered  under
               securities   legislation  in  a  jurisdiction  of  Canada,  as  a
               representative of a person or company registered under securities
               legislation in a jurisdiction of Canada, as an adviser or dealer,
               other  than  a  limited  market  dealer   registered   under  the
               SECURITIES ACT (Ontario) or the SECURITIES ACT (Newfoundland);

          [ ]  (e) an  individual  registered or formerly  registered  under the
               securities   legislation  of  a  jurisdiction   of  Canada  as  a
               representative of a person referred to in paragraph (d);
<PAGE>
                                      -15-

          [ ]  (f)  the  government  of  Canada  or a  province,  or  any  crown
               corporation or agency of the government of Canada or a province;

          [ ]  (g) a  municipality,  public board or  commission in Canada and a
               metropolitan community, school board, the Comite de gestion de la
               taxe  scholaire  de  l'ile  de  Montreal  or  an   intermunicipal
               management board in Quebec;

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

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

          [ ]  (j) an individual who either alone or with a spouse  beneficially
               owns, directly or indirectly,  financial assets (as defined in NI
               45-106) having an aggregate  realizable value that,  before taxes
               but net of any related liabilities, exceeds CDN$1,000,000;

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

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

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

          [ ]  (n) an investment  fund that  distributes  it securities  only to
               persons   that   are   accredited   investors   at  the  time  of
               distribution,  a person  that  acquires  or acquired a minimum of
               CDN$150,000 of value in securities,  or a person that acquires or
               acquired securities under Sections 2.18 or 2.19 of NI 45-106;

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

          [ ]  (p) a trust company or trust corporation registered or authorized
               to carry on  business  under  the TRUST  AND LOAN  COMPANIES  ACT
               (Canada) or under  comparable  legislation in a  jurisdiction  of
               Canada  or a  foreign  jurisdiction,  acting on behalf of a fully
               managed   account   managed   by  the  trust   company  or  trust
               corporation, as the case may be;

          [ ]  (q) a person acting on behalf of a fully managed  account managed
               by that person, if that person (i) is registered or authorized to
               carry on  business  as an  adviser  or the  equivalent  under the
               securities  legislation of a jurisdiction  of Canada or a foreign
               jurisdiction,  and (ii) in Ontario, is purchasing a security that
               is not a security of an investment fund;

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

          [ ]  (s)  an  entity  organized  in a  foreign  jurisdiction  that  is
               analogous to any of the entities referred to in paragraphs (a) to
               (d) or paragraph (i) in form and function;
<PAGE>
                                      -16-

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

          [ ]  (u) an investment funds that is advised by a person registered as
               an advisor or a person  that is exempt  from  registration  as an
               advisor; or

          [ ]  (v) a person that is recognized  or designated by the  securities
               regulatory  authority  or,  except in  Ontario  and  Quebec,  the
               regulator  as (i) an  accredited  investor,  or  (ii)  an  exempt
               purchaser in Alberta or British  Columbia  after this  instrument
               comes into force;

The  Subscriber  acknowledges  and agrees that the Subscriber may be required by
the  Company to  provide  such  additional  documentation  as may be  reasonably
required by the Company and its legal counsel in  determining  the  Subscriber's
eligibility to acquire the Securities under relevant legislation.

IN WITNESS  WHEREOF,  the undersigned has executed this  Questionnaire as of the
_____ day of ____________, ____.

If an Individual:                            If a Corporation, Partnership or
                                             Other Entity:

__________________________________           __________________________________
Signature                                    Print or Type Name of Entity

__________________________________           __________________________________
Print or Type Name                           Signature of Authorized Signatory

                                             __________________________________
                                             Type of Entity

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