Document:

Exhibit 10.6

                               SECURITY AGREEMENT

To:   James Fairhead, Steve Kerekes and Tom Davis (the "Vendors")
      Address:  c/o Purser,  Dooley LLP,  151 Ferris  Lane,  Suite 300,  Barrie,
      Ontario L4M 6C1
      Facsimile No. (705-792-6911)

Debtor's Name: 1500536 Ontario Inc. (the "Debtor")
Chief Executive Office Address: 85 Bayfield Street,  Suite 300, Barrie,  Ontario
L4M 3A7 Facsimile No. (705-725-7045)

27. General  Security  Interest.  As security for the payment and performance of
all present and future  indebtedness,  liabilities and obligations of the Debtor
to the Vendors arising pursuant to a certain guarantee provided by the Debtor in
favour of the  Vendors  with  respect  to the  obligations  created by a certain
promissory  note of even date  herewith  authorized,  executed and  delivered in
favour of the Vendors by Teleplus  Connect Corp. in the principal  amount of Six
Hundred Sixteen  Thousand Eight Hundred Twenty Two Dollars  ($616,822.) and this
Security   Agreement   (all   such   indebtedness,   liabilities,   obligations,
expenditures, costs and expenses are hereinafter collectively referred to as the
"Obligations"),  whether direct or indirect, absolute or contingent,  liquidated
or unliquidated,  as principal or as surety, alone or with others, of whatsoever
nature or kind, in any currency,  the Debtor hereby assigns,  charges,  pledges,
mortgages  and  grants  to  the  Vendors  a  security  interest  in  all  of the
undertaking,  property  and  assets  of the  Debtor,  both  real  and  personal,
immoveable  and  moveable,  tangible and  intangible,  legal and  equitable,  of
whatsoever  nature  and kind and  wheresoever  situate,  now owned or  hereafter
acquired  by or on behalf of the Debtor or in respect of which the Debtor now or
hereafter has any right,  title or interest (all of which is hereinafter  called
the "Collateral"), including without limitation:

      (a)   Intangibles - all intangible  property  including without limitation
            book  debts and  accounts,  all  contractual  rights  and  insurance
            claims,   licences,   computer   software,   warranties,   ownership
            certificates, patents, trademarks, trade names, goodwill, copyrights
            and other industrial property of the Debtor;

      (b)   Books  &  Records  - all of  the  Debtor's,  manuals,  publications,
            letters,  deeds, documents,  writings,  papers,  invoices,  books of
            account  and other  books  relating  to or being  records  of debts,
            chattel  paper or  documents  of  title or by which  such are or may
            hereafter be secured, evidenced, acknowledged or made payable;

      (c)   Equipment  -  all  of  the  Debtor's  tools,  machinery,  equipment,
            apparatus,  furniture, plants, fixtures, vehicles and other tangible
            personal   property,   other  than  Inventory  (as  defined  below),
            (collectively,  the "Equipment") including,  without limitation, the
            Equipment described in Schedule "A" hereto;

      (d)   Inventory - all of the Debtor's  tangible personal property held for
            sale or lease or that have been  leased or that are to be  furnished
            or have been furnished under a contract of service,  or that are raw
            materials,  work in  process,  or  materials  used or  consumed in a
            business or profession (collectively, the "Inventory");

      (e)   Real  Property - all of the Debtor's  real and  immovable  property,
            both freehold and  leasehold,  now or hereafter  owned,  acquired or
            occupied  by the Debtor,  together  with all  buildings,  erections,
            improvements  and  fixtures  situate  upon  or  used  in  connection
            therewith,  including any lease,  verbal or written or any agreement
            therefor, (collectively, the "Real Property") provided, however, the
            last day of any term of any such lease,  verbal or  written,  or any
            agreement  therefor  now held or  hereafter  held by the Debtor,  is
            excepted  out  of  the  Real  Property   charged  by  this  Security
            Agreement,  but should such  charge  become  enforceable  the Debtor
            shall  thereafter  stand possessed of the last day of such leasehold
            interest upon trust to assign and dispose thereof as the Vendors may
            direct;
<PAGE>

      (f)   Other  Property - the Debtor's  undertaking  and all of the Debtor's
            other property and assets including,  without  limitation,  uncalled
            capital,  judgments,  rights,  franchises,  licenses, chattel paper,
            documents of title,  goods,  instruments,  money and  securities (as
            those  terms are  defined  in the  Personal  Property  Security  Act
            (Ontario)(the "PPSA") governing this Security Agreement); and

      (g)   Proceeds - all of the Debtor's property in any form derived directly
            or  indirectly  from any use or dealing with the  Collateral or that
            indemnifies or  compensates  for loss of or damage to the Collateral
            (collectively, the "Proceeds").

28.  Attachment.  The security interest given hereunder will attach  immediately
upon the execution of this Security  Agreement.  The security  interest  granted
hereby has not been  postponed and will attach to any  particular  Collateral as
soon as the Debtor has rights in such Collateral.

29. Dealings with Collateral. Until the security interest hereby created becomes
enforceable, the Debtor may sell its Inventory and collect its book debts in the
ordinary  course of its  business;  provided  that after the  security  interest
becomes enforceable, all book debts collected by the Debtor shall be immediately
remitted to the Vendors.  Until remitted,  all book debts received by the Debtor
shall be held by the Debtor as agent and in trust for the Vendors.

30.  Representations  and  Warranties of the Debtor.  The Debtor  represents and
warrants to the Vendors as follows:

      (a)   The Debtor now owns or will own the Collateral,  as the case may be,
            free and clear of any prior lien,  security  interest or encumbrance
            save and except for the  security  interest  granted  hereby and for
            those  encumbrances as shown in Schedule "B" which have been validly
            perfected ("Permitted Encumbrances");

      (b)   This Security Agreement has been properly authorized and constitutes
            a legally valid and binding obligation of the Debtor;

      (c)   The authorization, creation, execution and delivery of this Security
            Agreement and compliance with its terms

            (i)   does  not  and  shall  not  contravene  any  applicable   law,
                  regulation, rule, order, judgment or injunction or the charter
                  documents, by-laws or any unanimous shareholders' agreement of
                  the Debtor; and

            (ii)  does not and  shall  not  result  in a breach  of or a default
                  under  any   indenture,   instrument,   lease,   agreement  or
                  undertaking  to which the  Debtor is a party or by which it or
                  the Collateral is or may become bound.

31. General Covenants. The Debtor hereby declares, covenants and agrees that it:

      (a)   Pay Costs - shall pay all costs and expenses  (including  reasonable
            legal fees and disbursements on a solicitor and own client basis) of
            the  Vendors  incidental  to or  which  in any way  relates  to this
            Security   Agreement   or  its   enforcement,   including   (i)  the
            preparation, execution and filing of this Security Agreement and any
            instruments   postponing,   discharging,   amending,   extending  or
            supplemental to this Security  Agreement  ("the Vendors  Security");
            (ii) perfecting and keeping  perfected the Vendors  Security;  (iii)
            maintaining the intended  priority of the Vendors Security on all or
            any part of the  Collateral;  (iv) taking,  recovering or possessing
            the  Collateral;  (v) taking any  actions  or other  proceedings  to
            enforce the  remedies  provided  herein or  otherwise in relation to
            this Security Agreement or the Collateral, or by reason of a default
            under the Vendors  Security or the  non-payment of the moneys hereby
            secured;   (vi)  taking  proceedings,   giving  notices  and  giving
            responses  required  under any applicable law concerning or relating
            to the Vendors Security, including compliance with the provisions of
            applicable  bankruptcy,  insolvency,  personal property security and
            mortgage   enforcement   legislation;   (vii)   responding   to   or
            participating  in  proceedings  in the nature of those  described in
            sections 14(d), (e) and (f) hereof;  and (viii) obtaining the advice
            of counsel and other advisors in relation to the foregoing;
<PAGE>

all such costs and expenses and other monies  payable  hereunder,  together with
interest at the highest rate  chargeable by the Vendors from time to time on the
Obligations,  shall form part of the Obligations, shall be payable by the Debtor
on demand  and shall be secured  hereby;  (b) To Pay Rents and Taxes - shall pay
all rents,  taxes and assessments  lawfully imposed upon the Real Property where
the  Collateral  is located  or any part  thereof  when the same  become due and
payable, and shall show to the Vendors on request receipts for such payment;

      (c)   To Maintain  Corporate  Existence and Security - shall  maintain its
            corporate  existence,  shall maintain the security hereby created as
            valid,  effective and perfected security at all times, shall observe
            and perform all of its obligations under leases,  licences and other
            agreements  to which it is a party so as to preserve and protect the
            Collateral and its value;

      (d)   Not to Sell - shall not,  except for Inventory  sold in the ordinary
            course of  business  and except as  otherwise  permitted  hereunder,
            remove,  destroy,  lease,  sell or  otherwise  dispose  or part with
            possession  of any of the  Collateral;  provided that the Debtor may
            sell  or  otherwise  dispose  of  furniture,  machinery,  equipment,
            vehicles  and  accessories  which have become worn out or damaged or
            otherwise  unsuitable  for their purposes on condition that it shall
            substitute therefor,  subject to the lien hereof and free from prior
            liens,  security interests or encumbrances,  property of equal value
            so that the security hereby  constituted shall not thereby be in any
            way reduced or impaired;

      (e)   No Other  Liens - shall  not  create,  assume or suffer to exist any
            charge,  lien,  deemed trust,  security interest or encumbrance upon
            any Collateral  ranking or purporting to rank in priority to or pari
            passu  with the  security  interest  created  hereunder,  other than
            Permitted Encumbrances.  No provision hereof shall be construed as a
            subordination  or  postponement  of the  security  interest  created
            hereunder  to or in  favour  of any  other  charge,  lien,  security
            interest  or   encumbrance,   whether  or  not  it  is  a  Permitted
            Encumbrance;

      (f)   To Hold  Proceeds of  Unauthorized  Sale in Trust - in the event the
            Collateral  or any part  thereof is sold or disposed of prior to the
            full  discharge of this  Security  Agreement by the Vendors,  in any
            manner not authorized by this Security  Agreement,  the Debtor shall
            hold all proceeds of such sale or disposition received by the Debtor
            as trustee for the Vendors until the Debtor has been fully  released
            from this Security Agreement by the Vendors;

      (g)   To Insure - shall keep insured the  Collateral to its full insurable
            value or in such  amounts  as the  Vendors  may  reasonably  require
            against all risks,  with  insurers  approved by the Vendors and will
            pay all  premiums  necessary  for such  purposes  as the same  shall
            become due; the proceeds  under all policies of insurance are hereby
            assigned to the Vendors subject to Permitted Encumbrances as further
            security  hereunder  and shall be  payable  to the  Vendors as their
            interest may appear and contain such mortgage clauses as the Vendors
            may require; such policies or contracts shall be in terms reasonably
            satisfactory  to the Vendors and at the request of the Vendors shall
            be delivered to and held by the Vendors subject to the rights of the
            holders of Permitted Encumbrances;
<PAGE>

      (h)   To Furnish Proofs - shall  forthwith on the happening of any loss or
            damage  furnish  at its  expense  all  necessary  proofs  and do all
            necessary  acts to  enable  the  Vendors  to obtain  payment  of the
            insurance  moneys  subject to the rights of the holders of Permitted
            Encumbrances;

      (i)   Inspection  by the  Vendors  - shall  allow any  employees  or third
            parties  retained  by the  Vendors at any  reasonable  time and with
            reasonable  prior  notice to the Debtor to enter the premises of the
            Debtor or others to inspect the  Collateral and to inspect the books
            and  records  of the  Debtor  relating  to the  Collateral  and make
            extracts  therefrom,  and shall permit the Vendors  prompt access to
            such other  persons as the Vendors may deem  necessary  or desirable
            for the purposes of inspecting or verifying any matters  relating to
            any part of the  Collateral  or the books and  records of the Debtor
            relating  to  the  Collateral,  provided  that  any  information  so
            obtained shall be kept confidential, save as required by the Vendors
            in exercising  their rights  hereunder or pursuant to any applicable
            law or court order;

      (j)   Use and  Maintenance - shall cause the Equipment and Inventory to be
            operated in accordance with any applicable manufacturer's manuals or
            instructions, by competent and duly qualified personnel. Any and all
            additions  and  accessions  to and  parts and  replacements  for the
            Equipment  or  Inventory  shall  immediately  become  subject to the
            security  interest  created hereby.  The Debtor shall not change the
            intended use of the Collateral  without the prior written consent of
            the Vendors which will not be unreasonably withheld or delayed;

      (k)   Location of  Collateral - shall keep the  Collateral at the location
            set forth in  Schedule  "B"  hereto,  except for goods in transit to
            such locations,  or Inventory on lease or  consignment,  or with the
            prior written consent of the Vendors;

      (l)   No Affixation - shall not permit the Collateral to be attached to or
            affixed to real or other personal property without the prior written
            consent of the Vendors,  which will not be unreasonably  withheld or
            delayed.  The Debtor  shall  obtain and deliver to the Vendors  such
            waivers  as the  Vendors  may  reasonably  request  from any  owner,
            landlord or mortgagee of premises on which the Collateral is located
            or to which the  Collateral  may  become  affixed or  attached.  The
            Debtor shall promptly do, execute and deliver all such further acts,
            documents,  agreements or  assurances as the Vendors may  reasonably
            require for giving effect to the intent of this  Security  Agreement
            and shall  register  such notice or  documents  against the title to
            such premises as the Vendors may  reasonably  request to protect its
            interests  hereunder and shall maintain  plates or marks showing the
            name of the Vendors upon the Collateral as requested;

      (m)   Not to  Remove  - prior to  moving  any of the  Collateral  from the
            location indicated in Schedule "B" hereto, or to leasehold property,
            the Debtor  shall effect such  further  registrations  and make such
            reasonable  effort to obtain such other consents and give such other
            security,  at the sole cost and  expense  of the  Debtor,  as may be
            required or desirable  to protect or preserve  the  security  hereby
            created and to maintain the  priority  intended to be granted to the
            Vendors hereunder as against all others including landlords, and the
            Debtor shall  forthwith  notify the Vendors of the intended  removal
            and the action proposed to be taken;

      (n)   Compliance with Environmental Laws

            (i)   shall  conduct and maintain  its  business,  operations,  Real
                  Property  and the  Collateral  so as to comply in all material
                  respects with all  applicable  Environmental  Laws,  including
                  obtaining all necessary material licenses,  permits,  consents
                  and approvals  required to own or operate the  Collateral  and
                  the business carried out on, at or from the Real Property;
<PAGE>

            (ii)  except as specifically permitted by the Vendors in writing, it
                  shall not permit or suffer to exist, Contaminants or dangerous
                  or potentially  dangerous  conditions in, on or below the Real
                  Property including,  without  limitation,  any polychlorinated
                  biphenyls, radio-active substances, underground storage tanks,
                  asbestos or urea formaldehyde foam insulation;

            (iii) has no knowledge of the existence of Contaminants or dangerous
                  or potentially  dangerous  conditions at, on or under the Real
                  Property  or any  properties  in  the  vicinity  of  the  Real
                  Property  which could  affect the Real  Property or the market
                  value  thereof  or in levels  that  exceed  the  standards  in
                  Environmental Laws;

            (iv)  has no knowledge of the Real Property, or any portion thereof,
                  having been used for the disposal of waste;

            (v)   has not given or received,  nor does it have an  obligation to
                  give,  any  notice,   claim,   communication   or  information
                  regarding any past, present,  planned or threatened treatment,
                  storage,   disposal,   presence,   release  or  spill  of  any
                  Contaminant  at, on,  under or from the Real  Property  or any
                  property in the vicinity of the Real  Property,  including any
                  notice pursuant to any Environmental Laws or any environmental
                  report or audit.  The Debtor shall notify the Vendors promptly
                  and in  reasonable  detail  upon  receipt  of any such  claim,
                  notice,  communication or information or if the Debtor becomes
                  aware of any violation or potential violation of the Debtor of
                  any  Environmental  Laws and shall describe therein the action
                  which the Debtor intends to take with respect to such matter;

            (vi)  shall at the  Debtor's  expense  promptly  take or cause to be
                  taken any and all  necessary  remedial or  clean-up  action in
                  response   to   the   presence,    storage,   use,   disposal,
                  transportation,  release or discharge of any  Contaminant  in,
                  on,  under or about any of the Real  Property,  or used by the
                  Debtor,  in  compliance  with  all  material  laws  including,
                  without limitation, Environmental Laws, and in accordance with
                  the orders and  directions of all applicable  federal,  state,
                  provincial, municipal and local governmental authorities;

            (vii) shall  deliver  to the  Vendors,  upon  request,  a  true  and
                  complete  copy  of  all  environmental  audits,   evaluations,
                  assessments,  studies or tests  relating to the Real Property,
                  the  Collateral or the Debtor now in its possession or control
                  or  forthwith  after  the  completion  thereof,  or upon  such
                  materials coming into the Debtor's possession or control;

            (viii) shall indemnify and save harmless the Vendors, and its agents
                  from and  against all  losses,  liabilities,  damages or costs
                  (including  reasonable legal fees and disbursements)  suffered
                  including,  without  limitation,  the cost or  expense  of any
                  environmental   investigation,    the   preparation   of   any
                  environmental  or  similar  report,   and  the  costs  of  any
                  remediation  arising  from or  relating  to any  breach of the
                  foregoing  covenants of this section  4(n),  any breach by the
                  Debtor or any other person now or hereafter having an interest
                  in the  Collateral or the Real  Property  which is asserted or
                  claimed against the Vendors; the presence, in any form, of any
                  Contaminant on or under the Real  Property,  or the discharge,
                  release,  spill or disposal of any  contaminant by the Debtor,
                  which is asserted or claimed against any of these  indemnified
                  persons.  This indemnity  shall survive the payment in full of
                  all amounts  secured hereby and the discharge of this Security
                  Agreement.   The  Vendors  shall  hold  the  benefit  of  this
                  indemnity in trust for those  indemnified  persons who are not
                  parties to this Security Agreement.
<PAGE>

            (ix)  For the purposes hereof:

                  a.    "Contaminant" means any solid, liquid, gas, odour, heat,
                        sound, smoke, waste, vibration, radiation or combination
                        of any of them  resulting  directly or  indirectly  from
                        human  activities that may cause:  (i) impairment of the
                        quality of the natural  environment for any use that can
                        be made of it,  (ii)  injury or damage to property or to
                        plant or animal life, (iii) harm or material  discomfort
                        to any person,  (iv) an adverse  affect on the health of
                        any person,  (v) impairment of the safety of any person,
                        (vi)  rendering  any  property  or plant or animal  life
                        unfit for use by man,  (vii) loss of enjoyment of normal
                        use of property,  or (viii) interference with the normal
                        conduct of  business,  and  includes  any  pollutant  or
                        contaminant as defined in any  applicable  Environmental
                        Laws and any  biological,  chemical  or  physical  agent
                        which   is   regulated,   prohibited,    restricted   or
                        controlled; and

                  b.    "Environmental  Laws"  means  the  common  law  and  all
                        applicable  federal,   provincial,   local,   municipal,
                        governmental   or   quasi-governmental    laws,   rules,
                        regulations,  policies,  guidelines,  licences,  orders,
                        permits,    decisions   or    requirements    concerning
                        Contaminants,  occupational  or public health and safety
                        or the  environment  and any  other  order,  injunction,
                        judgment,   declaration,   notice   or   demand   issued
                        thereunder.

32. Collection of Debts. Upon the occurrence of an Event of Default,  hereunder,
the  Vendors  may,  without  exercising  any of their  other  rights or remedies
hereunder,  give notice of the security  interest in, and the assignment to, the
Vendors of any debt or liability  forming part of the  Collateral and may direct
such person to make all payments on account of any such debt or liability to the
Vendors.

33.  Waiver of  Covenants.  The  Vendors  may waive in writing any breach by the
Debtor of any of the  provisions  contained  in this  Security  Agreement or any
default  by the Debtor in the  observance  or  performance  of any  covenant  or
condition required to be observed or performed by the Debtor hereunder, provided
that no such waiver or any other act,  failure to act or omission by the Vendors
shall  extend to or be taken in any  manner to affect any  subsequent  breach or
default or the rights of the Vendors resulting therefrom.

34. Performance of Covenants by the Vendors. If the Debtor shall fail to perform
any  covenant on its part  herein  contained,  the  Vendors may in its  absolute
discretion  perform any such covenant  capable of being performed by it, but the
Vendors shall be under no obligation to do so. If any such covenant requires the
payment of money or if the  Collateral or any part thereof shall become  subject
to any charge, lien, security interest or encumbrance ranking in priority to the
security  interest  created hereby,  the Vendors may in its absolute  discretion
make such payment and/or pay or discharge such charge,  lien,  security interest
or encumbrance,  but the Vendors shall be under no obligation to do so. All sums
so paid by the Vendors, together with interest at the highest rate chargeable by
the Vendors from time to time on the Obligations, shall be payable by the Debtor
on demand and shall constitute a charge upon the Collateral. No such performance
or  payment  shall  relieve  the  Debtor  from  any  default  hereunder  or  any
consequences of such default.

35.  Application of Insurance  Proceeds.  Any insurance  moneys  received by the
Vendors may at the option of the Vendors be applied to  rebuilding  or repairing
the Collateral,  or be paid to the Debtor,  or any such moneys may be applied in
the sole discretion of the Vendors, in whole or in part, to the repayment of the
Obligations  or any  part  thereof  whether  then due or not,  with any  partial
payments to be credited  against  principal  instalments  payable  thereunder in
inverse order of their maturity dates.
<PAGE>

36. No Merger or  Novation.  The taking of any  judgment or the  exercise of any
power of seizure or sale shall not operate to  extinguish  the  liability of the
Debtor to perform its  obligations  hereunder or to pay the  Obligations  hereby
secured,  shall not  operate as a merger of any  covenant  herein  contained  or
affect  the  right of the  Vendors  to  interest  in  effect  from  time to time
hereunder  and the  acceptance  of any  payment  or  other  security  shall  not
constitute or create any  novation.  The execution and delivery of this Security
Agreement  or of any  instruments  or  documents  supplemental  hereto shall not
operate as a merger of any representation,  warranty,  term,  condition or other
provision contained in any other obligation or indebtedness of the Debtor to the
Vendors.

37. Security in Addition.  The security hereby constituted is in addition to any
other security now or hereafter held by the Vendors. The taking of any action or
proceedings  or refraining  from so doing,  or any other dealings with any other
security for the moneys secured hereby, shall not release or affect the security
created hereby.

38. Partial  Discharges.  The Vendors may in its sole  discretion  grant partial
discharges  or releases of security in respect of any of the  Collateral on such
terms and  conditions  as it shall deem fit and no such  partial  discharges  or
releases shall affect the remainder of the security  created hereby nor shall it
alter the obligations of the Debtor under the Obligations or hereunder.

39. Notice of Change. The Debtor shall immediately notify the Vendors in writing
of any proposed  change and any actual change in the Debtor's name or address or
the  location of the  Collateral.  The Debtor  agrees to execute at the Debtor's
expense,  any  instruments,  notices or other  documents  required to effect any
registration  which the Vendors  deems  necessary to protect its interest in the
Collateral in any jurisdiction.

40. Events of Default.  Each of the following  events shall constitute an "Event
of Default":

      (a)   the  Debtor  does not pay any of the  Obligations  when due and such
            default  shall  continue  for five (5) business  days after  written
            notice thereof to the Debtor by the Vendors;

      (b)   the Debtor fails to perform or observe any other covenants contained
            in this Security  Agreement and such default shall continue for five
            (5) business days after written  notice thereof to the Debtor by the
            Vendors;

      (c)   the Debtor ceases or threatens to cease to carry on its business;

      (d)   the  Debtor  becomes  bankrupt  or  insolvent  or  commits an act of
            bankruptcy,  or any proceeding is commenced against, by or affecting
            the Debtor when, if capable,  is not stayed within five (5) business
            days of the commencement of same:

            (i)   seeking to adjudicate it a bankrupt or insolvent;

            (ii)  seeking liquidation,  dissolution,  winding up, restructuring,
                  reorganization, arrangement, protection, relief or composition
                  of it or any of its property or debt or making a proposal with
                  respect  to  it  under  any  law   relating   to   bankruptcy,
                  insolvency,  reorganization  or  compromise  of debts or other
                  similar   laws    (including,    without    limitation,    any
                  reorganization,  arrangement  or  compromise of debt under the
                  laws of its jurisdiction of incorporation or organization); or

            (iii) seeking  appointment  of a  receiver,  receiver  and  manager,
                  liquidator,   trustee,   agent,  custodian  or  other  similar
                  official for it or for any part of its  properties and assets,
                  including the Collateral or any part thereof;

      (e)   any  order or  judgment  is issued  by a court  granting  any of the
            relief referred to in section 14(d) hereof;

      (f)   if an encumbrancer  or secured  creditor shall appoint a receiver or
            agent or other similar official over any part of the Collateral,  or
            take  possession of any part of the  Collateral or if any execution,
            distress or other process of any court becomes  enforceable  against
            any Collateral,  or a distress or like process is levied upon any of
            such Collateral;
<PAGE>

      (g)   if the Debtor takes any proceedings for its dissolution, liquidation
            or  amalgamation  with another  company or if the legal or corporate
            existence  of  the  Debtor  shall  be  terminated   by   expiration,
            forfeiture or otherwise;

      (h)   if there is any material misrepresentation or misstatement contained
            in any  certificate or document  delivered by an officer or director
            of the Debtor in connection with this Security Agreement; and

      (i)   if a default occurs under any agreement  supplemental  hereto or any
            other security previously now or hereafter granted to the Vendors by
            the  Debtor or any  guarantor  of the  obligations  of the Debtor or
            should any party to any agreement  supplemental or collateral hereto
            fail to carry out or observe any  covenant or  condition on its part
            to be observed or performed and such default  continues for five (5)
            business  days  after  written  notice  thereof to the Debtor by the
            Vendors.

41.  Enforcement.  Upon the  happening  of any Event of  Default,  the  security
granted herein shall become  immediately  enforceable and the Vendors may at its
option  declare  this  Security  Agreement to be in default and may exercise any
rights, powers or remedies available to the Vendors at law or in equity or under
the PPSA or other applicable  legislation and, in addition,  may exercise one or
more of the  following  rights,  powers or remedies,  which  rights,  powers and
remedies are cumulative:

      (a)   to declare the full amount of the  Obligations to be immediately due
            and payable;

      (b)   to terminate the Debtor's  right to  possession  of the  Collateral,
            cause the Debtor to immediately  assemble and deliver the Collateral
            at such  place or places as may be  specified  by the  Vendors,  and
            enter upon the  premises  where the  Collateral  is located and take
            immediate possession thereof, whether it is affixed to the realty or
            not, and remove the Collateral  without liability to the Vendors for
            or by reason of such  entry or taking  of  possession,  whether  for
            damage to property caused by taking such or otherwise;

      (c)   to enter upon and hold, possess, use, repair,  preserve and maintain
            all or any part of the Collateral and make such replacements thereof
            and additions thereto as the Vendors shall deem advisable;

      (d)   to sell,  for cash or credit or part cash and part credit,  lease or
            dispose of or  otherwise  realize  upon the whole of any part of the
            Collateral  whether by public or private  sale as the Vendors in its
            absolute  discretion may determine,  in accordance  with  applicable
            law,  without  notice  to the  Debtor  or  advertisement  and  after
            deducting from the proceeds of sale (including reasonable legal fees
            and  disbursements)  incurred in the  repossession,  sale,  lease or
            other  disposition of the Collateral  apply the proceeds  thereof to
            the  Obligations  in the  manner and order to be  determined  by the
            Vendors,  provided  however that the Vendors shall only be liable to
            account to the Debtor,  any subsequent  encumbrancers and others for
            money actually  received by the Vendors and provided that the Debtor
            shall pay any deficiency forthwith;

      (e)   to appoint by  instrument  in writing  any person or persons to be a
            receiver  or  receiver  and  manager  of all or any  portion  of the
            Collateral,  to fix the  receiver's  remuneration  and to remove any
            receiver so appointed and appoint another or others in its stead;

      (f)   to apply to any court of competent  jurisdiction for the appointment
            of a receiver or receiver  and manager for all or any portion of the
            Collateral;

      (g)   to retain the Collateral in satisfaction of the Obligations.
<PAGE>

42. Powers of Receiver.

      (a)   Any receiver (which term includes a receiver and manager) shall have
            all  of the  powers  of the  Vendors  set  forth  in  this  Security
            Agreement and, in addition, shall have the following powers:

            (i)   to lease all or any  portion  of the  Collateral  and for this
                  purpose  execute  contracts  in the name of the Debtor,  which
                  contracts  shall be binding  upon the  Debtor and the  Debtor,
                  upon  an  Event  of  Default   that  is   continuing,   hereby
                  irrevocably constitutes such receiver as its attorney for such
                  purposes;

            (ii)  to take  possession  of the  Collateral,  collect  all  rents,
                  issues, incomes and profits derived therefrom and realize upon
                  any additional or collateral security granted by the Debtor to
                  the Vendors and for that purpose may take any  proceedings  in
                  the name of the Debtor or otherwise; and

            to carry on or concur in carrying on the  business  which the Debtor
            is conducting  and for that purpose the receiver may borrow money on
            the  security  of  the  Collateral  in  priority  to  this  Security
            Agreement;  (b) Any receiver  appointed  pursuant to the  provisions
            hereof shall be deemed to be the agent of the Debtor,  to the extent
            permitted by applicable law, for the purposes of:

            (i)   carrying  on and  managing  the  business  and  affairs of the
                  Debtor, and

            (ii)  establishing liability for all of the acts or omissions of the
                  receiver  while  acting  in any  capacity  hereunder  and  the
                  Vendors shall not be liable for such acts or omissions,

            provided that, without  restricting the generality of the foregoing,
            the Debtor  irrevocably  authorizes the Vendors to give instructions
            to the receiver relating to the performance of its duties as set out
            herein.

43. Application of Moneys. All moneys actually received by the Vendors or by the
receiver  pursuant  to Sections 15 and 16 of this  Security  Agreement  shall be
applied:

      (a)   first, in payment of those claims,  if any, of secured  creditors of
            the Debtor (including any claims of the receiver pursuant to section
            16(a)),  ranking in priority to the charges created by this Security
            Agreement as directed by the Vendors or the receiver;

      (b)   second,  in  payment  of all  costs,  charges  and  expenses  of and
            incidental to the appointment of the receiver (including  reasonable
            legal fees and  disbursements)  and the  exercise by the receiver or
            the  Vendors of all or any of the powers  granted to them under this
            Security  Agreement,  including the reasonable  remuneration  of the
            Receiver or any agent or  employee  of the  receiver or any agent of
            the Vendors and all  outgoings  properly paid by the receiver or the
            Vendors in exercising their powers as aforesaid;

      (c)   third,  in or  towards  the  payment  to the  Vendors  of all  other
            obligations  due to it by the Debtor in such order as the Vendors in
            its sole discretion may determine;

      (d)   fourth, in or towards the payment of the obligation of the Debtor to
            persons if any, with security  interests against  Collateral ranking
            subsequent to those in favour of the Vendors; and

      (e)   fifth,  subject to  applicable  law any surplus shall be paid to the
            Debtor.

44.  Possession of Collateral.  The Debtor  acknowledges that the Vendors or any
receiver  appointed by it may take  possession of Collateral  wherever it may be
located and by any method  permitted  by law and the Debtor  agrees upon request
from the Vendors or any such Receiver to assemble and deliver  possession of the
Collateral at such place or places as directed.
<PAGE>

45. Deficiency. The Debtor shall remain liable to the Vendors for any deficiency
after the proceeds of any sale,  lease or disposition of Collateral are received
by the Vendors and applied is  accordance  with the  provisions of section 17(c)
hereof.

46.  Assignment.  This Security  Agreement may be assigned by the Vendors to any
other  person and, if so assigned,  the  assignee  shall have and be entitled to
exercise any and all  discretions,  rights and powers of the Vendors  hereunder,
and all references herein to the Vendors shall include such assignee. The Debtor
may not assign  this  Security  Agreement  or any of its  rights or  obligations
hereunder.  This Security Agreement shall enure to the benefit of and be binding
upon the parties hereto and their respective heirs,  executors,  administrators,
successors and permitted  assigns.  In any action brought by an assignee of this
Security  Agreement and the security interest or any part thereof to enforce any
rights hereunder,  the Debtor shall not assert against the assignee any claim or
defence which the Debtor now has or hereafter may have against the Vendors.

47. Limited Power of Attorney.  The Debtor hereby appoints the Vendors,  upon an
Event of Default that is continuing,  as the Debtor's attorney,  with full power
of substitution,  in the name and on behalf of the Debtor,  to execute,  deliver
and do all such acts, deeds, leases, documents, transfers, demands, conveyances,
assignments, contracts, assurances, consents, financing statements and things as
the  Debtor  has  agreed to  execute,  deliver  and do  hereunder,  or as may be
required  by the  Vendors  or any  receiver  to give  effect  to  this  Security
Agreement or in the exercise of any rights,  powers or remedies hereby conferred
on the Vendors or any  receiver,  and generally to use the name of the Debtor in
the exercise of all or any of the rights, powers or remedies hereby conferred on
the Vendors or any receiver.  This appointment,  being coupled with an interest,
shall not be revoked by the insolvency, bankruptcy, dissolution,  liquidation or
other termination of the existence of the Debtor or for any other reason.

48. Severability. Each of the provisions contained in this Security Agreement is
distinct  and  severable  and  a  declaration  of   invalidity,   illegality  or
unenforceability  of any such  provision or part thereof by a court of competent
jurisdiction  shall not  affect  the  validity  or  enforceability  of any other
provision of this Security Agreement.

49.  Notices.  Any notice required or desired to be given hereunder or under any
instrument  supplemental hereto shall be in writing and may be given by personal
delivery, by facsimile or other means of electronic  communication or by sending
the same by registered mail, postage prepaid, to the Vendors or to the Debtor at
their  respective  addresses  set out  above  and,  in the  case  of  electronic
communication,  to the facsimile  numbers set out above. Any notice so delivered
shall be conclusively deemed given when personally delivered and any notice sent
by facsimile or other means of electronic  transmission  shall be deemed to have
been delivered on the Business Day following the sending of the notice,  and any
notice so mailed shall be  conclusively  deemed given on the third  Business Day
following the day of mailing,  provided that in the event of a known  disruption
of postal service,  notice shall not be given by mail. Any address for notice or
payments  herein  referred to may be changed by notice in writing given pursuant
hereto.

      Notwithstanding  the foregoing,  if the PPSA requires that notice be given
in a special manner,  then such notice or  communication  shall be given in such
manner.

50. General.

            (i)   The  Debtor  authorizes  the  Vendors  to file such  financing
                  statements,  notices of security  interest,  caveats and other
                  documents  and do such  acts and  things  as the  Vendors  may
                  consider   appropriate   to  perfect  their  security  in  the
                  Collateral,  to protect  and  preserve  their  interest in the
                  Collateral and to realize upon the Collateral.

            (ii)  The division of this Security  Agreement into sections and the
                  insertion of headings are for  convenience  of reference  only
                  and shall not affect the  construction  or  interpretation  of
                  this Security Agreement.
<PAGE>

            (iii) When the context so requires,  the singular  shall include the
                  plural and vice versa and words  importing  gender include all
                  genders;  all  rights,  advantages,   privileges,  immunities,
                  powers  and  things  hereby  secured  to the  Debtor  shall be
                  equally  secured  to  and  exercised  by  its  successors  and
                  assigns.

            (iv)  Time is of the essence in this Security Agreement.

51. Receipt.  The Debtor  acknowledges  that it has received an executed copy of
this Security  Agreement and, to the extent  permitted by law, waives all rights
to receive  from the  Vendors a copy of any  financing  statement  or  financing
change statement filed, or any verification  statement received,  at any time in
respect of this Security  Agreement or any  supplemental or collateral  security
granted to the Vendors.

52.  Governing Law. This Security  Agreement or any amendment or renewal thereof
will be governed by and  construed in  accordance  with the laws of the Province
Ontario and the federal laws of Canada applicable  therein and the Debtor hereby
irrevocably attorns to the jurisdiction of the courts of such province.

The Debtor has duly executed this Security Agreement on July , 2005.

                                       1500536 Ontario Inc.

                                       Per:/s/ Marius Silvasan
                                           -------------------------------(seal)
                                           Name: Marius Silvasan
                                           Title: President

                                       Per:
                                           -------------------------------
                                           Name:
                                           Title:

<PAGE>

                                  SCHEDULE "B"
                                  ------------
                             PERMITTED ENCUMBRANCES
                             ----------------------

(iv)  liens for taxes,  assessments,  governmental  charges or levies not at the
      time due; and

(v)   (purchase money security interests) any mortgage,  lien, charge,  security
      interest, conditional sales agreement, lease intended as security or other
      form of encumbrance or any property or asset created, issued or assumed to
      secure the unpaid  purchase  price in respect of such  property  or asset;
      provided  that such  encumbrance  is  restricted to such property or asset
      acquired  and  secures  an  amount  not in excess  of the  purchase  price
      thereof.

<PAGE>

                                  SCHEDULE "A"
                     Description and Location of Collateral

Location of Collateral:
-----------------------

85 Bayfield Street, Suite 300, Barrie, Ontario L4M 3A7

Description  of  Collateral:  (include  equipment  by item or  kind  and,  where
applicable,  the  make,  model  and  serial  number  and,  in the  case of motor
vehicles, the Vehicle Identification numbers.)Exhibit 10.8

THIS AGREEMENT OF GUARANTEE formally dated as of the day of July,          2005.

B E T W E E N:

                        1500536  ONTARIO  INC., 85 Bayfield  Street,  Suite 300,
                        Barrie,   Ontario  L4M  3A7   (hereinafter   called  the
                        "Guarantor"),
                                                              OF THE FIRST PART;

                        -and-

                        JAMES FAIRHEAD,  STEVE KEREKES,  TOM DAVIS,  c/o Purser,
                        Dooley LLP, 151 Ferris Lane, Suite 300, Barrie,  Ontario
                        L4M  6C1  (hereinafter  called  the  "Vendors"),
                                                             OF THE SECOND PART.

WHEREAS  TELEPLUS  CONNECT CORP. (the  "Company") has  authorized,  executed and
delivered  in favour of the Vendors a promissory  note (the "Note")  dated as of
the day of July, 2005 in the principal  amount of Six Hundred  Sixteen  Thousand
Eight Hundred  Twenty Two Dollars  ($616,822.)  pursuant to the  provisions of a
certain share purchase  agreement (the "Agreement") dated June 30, 2005, between
the Company and the Vendors with respect to all issued and outstanding shares of
the Guarantor.

NOW THEREFORE THIS AGREEMENT  WITNESSETH that in  consideration  of the premises
the Guarantor covenants and agrees with the Vendors as follows:

                                   SECTION 5.
                                    GUARANTEE

5.1. For valuable consideration,  the Guarantor  unconditionally  guarantees and
covenants  with the Vendors that the Company will duly and punctually pay to the
Vendors  all debts and  liabilities,  present  or  future,  direct or  indirect,
absolute or  contingent,  matured or not at any time owing by the Company to the
Vendors  wherever  incurred  and whether  incurred by the Company  alone or with
another or others, including, without limitation, all the principal of, interest
on and all other moneys owing under the Note as and when the same become due and
payable according to the terms of the Note (the "Company's Debts").

5.2. The Guarantor  hereby  acknowledges  communication of the terms of the Note
and consents to and approves of the same. The guarantee  herein  contained shall
take effect and be binding upon the Guarantor  notwithstanding  any defect in or
omission  from any  documentation  or security  delivered  by the Company to the
Vendors or any default in or omission from the Note or any  non-registration  or
non-filing  or defective  registration  or filing or by reason of any failure of
the security intended to be created by the Note or any other security.

5.3. The liability of the Guarantor  under Section 1.1 hereof shall be joint and
several  with that of the Company and shall be absolute and  unconditional.  The
Guarantor  shall for all  purposes of the  guarantee  be regarded as in the same
position as a principal  debtor,  and to the extent  permitted by applicable law
hereby expressly waives demand,  presentment,  protest and notice thereof and of
default save and except as required by the Note. The obligation of the Guarantor
hereunder shall be deemed to arise in respect of each default.
<PAGE>

1.4 The  liability  of the  Guarantor  under  this  Agreement  is limited to Six
Hundred  Sixteen  Thousand  Eight Hundred  Twenty Two Dollars  ($616,822.)  plus
interest  on all  amounts  due under this  Agreement  from the date the  Vendors
demand  payment  thereof,  at the rate of two  percent  (2%) per annum above the
floating  annual  prime rate of  interest  established  from time to time by the
Royal Bank of Canada. The maximum liability of the Guarantor  hereunder shall be
reduced  in  proportion  to such  payments  as are  made by the  Company  to the
Creditors pursuant to the Agreement.

                                   SECTION 6.
                             DEFAULT AND ENFORCEMENT

6.1. If the Company shall make default in payment of the principal of,  interest
on or any  other  moneys  owing to the  Vendors  on any of the  Company's  Debts
including,  without  limitation,  any principal of,  interest on or other monies
owing  under  the Note as and when the same  become  due and  payable,  then the
Guarantor  shall  forthwith  on demand by the  Vendors  pay to the  Vendors  the
principal, interest and other moneys in default.

6.2.  If the  Guarantor  shall  fail  forthwith  on demand to make good any such
default,  the Vendors may in its discretion  proceed with the enforcement of its
rights hereunder and may proceed to enforce such rights or from time to time any
thereof  prior to,  contemporaneously  with or after any action  taken under any
security or other  documents  delivered by the Company or others to the Vendors,
including  the Note.  The  Guarantor  shall pay on demand all costs and expenses
(including  reasonable  legal  fees)  incurred by the  Vendors in  enforcing  or
attempting to enforce its rights hereunder and all proceedings taken in relation
hereto;  all such costs and expenses and other moneys  payable  hereunder  shall
bear  interest at the greater of the loan rate or the interest rate provided for
in any of the Note, other security or loan documents.

6.3.  All sums paid to or recovered  by the Vendors  pursuant to the  provisions
hereof shall be applied by them in payment of their costs and  expenses  payable
hereunder  and the  principal,  interest  and other  moneys owing to the Vendors
including,  without limitation,  all amounts owing on the Note and in such order
as the Vendors in their sole discretion may determine.

6.4.  The  Vendors may waive any default of the  Guarantor  hereunder  upon such
terms and  conditions  as it may  determine  provided  that no such waiver shall
extend to or be taken in any manner whatsoever to affect any subsequent  default
or the rights resulting therefrom.

6.5. Any moneys paid by or recovered from the Guarantor  hereunder shall be held
to have been paid pro  tanto in  discharge  of the  liability  of the  Guarantor
hereunder,  but not in  discharge of the  liability  of the Company,  and in the
event of any such  payment by or  recovery  from the  Guarantor,  the  Guarantor
hereby  assigns  any rights  with  respect to or  arising  from such  payment or
recovery  (including without limitation any right of subrogation) to the Vendors
unless or until the Vendors have  received in the  aggregate  payment in full of
all moneys owing to the Vendors including,  without  limitation,  amounts on the
Note.  If the  Guarantor  receives  money  in  payment  of any  such  debts  and
liabilities, the Guarantor will hold them in trust for, and will immediately pay
funds to, the Vendors  without  reducing the  Guarantor's  liability  under this
Guarantee.

                                   SECTION 7.
                               ABSOLUTE LIABILITY

7.1.  The  liability  of the  Guarantor  under this  Guarantee  is absolute  and
unconditional.  It will not be  limited  or  reduced,  nor will the  Vendors  be
responsible or owe any duty (as a fiduciary or otherwise) to the Guarantor,  nor
will the Vendors rights under this Guarantee be prejudiced,  by the existence or
occurrence (with or without the Guarantor's  knowledge or consent) of any one or
more of the following events:

(n)           any termination,  invalidity,  unenforceability  or release by the
              Vendors or any of their rights  against the Company or against any
              other person or of any security;
(o)           any increase, reduction, renewal, substitution or other change in,
              or discontinuance of, the terms relating to the Company's Debts or
              to  any  credit  extended  by the  Vendors  to  the  Company;  any
              agreement to any proposal or scheme of arrangement concerning,  or
              granting  any  extensions  of time  or any  other  indulgences  or
              concessions  to, the  Company or any other  person;  any taking or
              giving up of any  security;  abstaining  from taking,  perfecting,
              filing or registering any security; allowing any security to lapse
              (whether by failing to make or maintain any  registration,  filing
              or  otherwise);  or any  neglect  or  omission  by the  Vendors in
              respect of, or in the course of, doing any of these things;
(p)           accepting compositions from compromises,  arrangements or plans of
              reorganizations  or granting releases or discharges to the Company
              or any other person,  or any other dealing with the Company or any
              other  person  or with  any  security  that the  Vendors  consider
              appropriate;
(q)           any  unenforceability  or loss of or in respect of the Note or any
              security   held  from  time  to  time  by  the  Vendors  from  the
              undersigned,  the Company or any other person, whether the loss is
              due to the  means or timing of any  registration,  disposition  or
              realization of any collateral that is the subject of that security
              or otherwise due to the Vendors fault or any other reason;
(r)           any change in the Company's name; or any  reorganization  (whether
              by way of amalgamation, merger, transfer, sale lease or otherwise)
              of the Company or the Company's business;
(s)           any change in the  Company's  financial  condition  or that of the
              Company  or  any  other   guarantor   (including   insolvency  and
              bankruptcy);
(t)           any change of  effective  control of the  Company;  (u) any event,
              whether or not attributable to the Vendors, that may be considered
              to have caused or accelerated  the bankruptcy or insolvency of the
              Company or any Guarantor, or to have resulted in the initiation of
              any such proceedings;
(v)           The   Vendors   filing  of  any  claim   for   payment   with  any
              administrator,   provisional  liquidator,   conservator,  trustee,
              receiver,  custodian or other  similar  officer  appointed for the
              Company or for all or substantially all of the Company's assets;
(w)           any  failure  by the  Vendors  to  abide by any of the  terms  and
              conditions of the Vendors  agreements  with, or to meet any of its
              obligations  or duties owed to, the Company or any person,  or any
              breach of any duty  (whether as a  fiduciary  or  otherwise)  that
              exists  or is  alleged  to  exist  between  the  Vendors  and  the
              Guarantor, the Company or any person;
(x)           any incapacity,  disability, or lack or limitation of status or of
              the power of the Company or of the Company's directors,  managers,
              officers,  partners or agents;  the discovery  that the Company is
              not or may not be a legal entity; or any  irregularity,  defect or
              informality in the incurring of any of the Company's Debts;
(y)           any event  whatsoever  that  might be a defence  available  to, or
              result in a reduction or discharge of, the Guarantor,  the Company
              or any other  person in respect of either the  Company's  Debts or
              the Guarantor's liability under this Guarantee; or
(z)           any  amendment  to  any,  some  or all of the  Note  or any  other
              security or agreements as between the Company and the Vendors .

      For greater  certainty,  the undersigned  agrees that the Vendors may deal
with the  Guarantor,  the  Company  and any other  person in any manner  without
affecting the Guarantor's liability under this Guarantee.

      Any claims by the Guarantor  against the Vendors and its agents in respect
of any of the foregoing matters or otherwise are hereby waived.
<PAGE>

      7.2.  After all moneys  payable by the Company to the  Vendors  including,
without  limitation,  amounts owing under the Note, have been paid in full, this
guarantee  shall cease and become null and void and the  Vendors  shall,  at the
request and at the expense of the Guarantor execute and deliver a release to the
Guarantor.

                                   SECTION 8.
                                  MISCELLANEOUS

8.1.  Any  notice  required  or  desired  to be given  hereunder  or  under  any
instrument  supplemental hereto shall be in writing and may be given by personal
delivery,  by facsimile (to the Guarantor at 705-725-7045  and to the Vendors at
705-792-6911) or other means of electronic  communication or by sending the same
by registered mail,  postage  prepaid,  to the Vendors or to the Debtor at their
respective addresses set out above and, in the case of electronic communication,
to the  facsimile  numbers  set out  above.  Any  notice so  delivered  shall be
conclusively  deemed  given when  personally  delivered  and any notice  sent by
facsimile or other means of electronic transmission shall be deemed to have been
delivered  on the  Business  Day  following  the sending of the notice,  and any
notice so mailed shall be  conclusively  deemed given on the third  Business Day
following the day of mailing,  provided that in the event of a known  disruption
of postal service,  notice shall not be given by mail. Any address for notice or
payments  herein  referred to may be changed by notice in writing given pursuant
hereto.

8.2. This  Agreement  shall be construed in accordance  with and governed by the
laws of the Province of Ontario.

                                   SECTION 9.
                       CERTAIN COVENANTS BY THE GUARANTOR

9.1. The Guarantor hereby covenants and agrees that it will:

(c)               carry on and  conduct its  business in a proper and  efficient
                  manner so as to preserve  and protect its  property and assets
                  and the  income  therefrom  and  shall  keep  proper  books of
                  accounts and make  therein  true and  faithful  entries of all
                  dealings  and  transactions  in relation to its  business  and
                  furnish  to  the  Vendors  such  information  relating  to the
                  Guarantor's  business  as the Vendors  may  require,  and such
                  books of account  shall at all times  during  normal  business
                  hours and upon  reasonable  prior  notice to the  Guarantor be
                  open for  inspection  by the Vendors or such agent or attorney
                  as it shall from time to time by  instrument  in  writing  for
                  that purpose appoint; and
(d)               at  all  times  maintain  its  corporate  existence  and  will
                  diligently  preserve  all  rights,   powers,   privileges  and
                  goodwill owned by it.

IN WITNESS WHEREOF the Guarantor has executed these presents under its corporate
seal.

                                       1500536 ONTARIO INC.

                                       By: /s/ Marius Silvasan
                                           -------------------------------------
                                           Marius Silvasan, President

                                       We have authority to bind the Corporation

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00091-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00091-of-00352.parquet"}]]