OSC Bulletin

The Ontario Securities Commission

OSC Bulletin

February 22, 2018

Volume 41, Issue 8

(2018), 41 OSCB

The Ontario Securities Commission administers the Securities Act of Ontario (R.S.O. 1990, c. S.5) and the Commodity Futures Act of Ontario (R.S.O. 1990, c. C.20)

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Table of Contents

Chapter 1 Notices / News Releases ...... 1453 Chapter 3 Reasons: Decisions, Orders and 1.1 Notices ...... (nil) Rulings ...... 1497 1.2 Notices of Hearing ...... 1453 3.1 OSC Decisions ...... 1497 1.2.1 Natural Bee Works Apiaries Inc. 3.1.1 Lance Sandford Cook and et al. – s. 127(8) ...... 1453 CBM Canada’s Best Mortgage Corp. 1.2.2 USI Tech Limited et al. – s. 127(8) ...... 1454 – ss. 127(1), 127(10) ...... 1497 1.3 Notices of Hearing with Related 3.1.2 Benedict Cheng et al...... 1503 Statements of Allegations ...... (nil) 3.2 Director’s Decisions ...... (nil) 1.4 News Releases ...... (nil) 3.3 Court Decisions ...... (nil) 1.5 Notices from the Office of the Secretary ...... 1455 Chapter 4 Cease Trading Orders ...... 1505 1.5.1 Benedict Cheng et al...... 1455 4.1.1 Temporary, Permanent & Rescinding 1.5.2 Lance Sandford Cook and Issuer Cease Trading Orders ...... 1505 CBM Canada’s Best Mortgage Corp...... 1455 4.2.1 Temporary, Permanent & Rescinding 1.5.3 Benedict Cheng et al...... 1456 Management Cease Trading Orders ...... 1505 1.5.4 USI Tech Limited et al...... 1456 4.2.2 Outstanding Management & Insider 1.5.5 Natural Bee Works Apiaries Inc. et al...... 1457 Cease Trading Orders ...... 1505 1.5.6 USI Tech Limited et al...... 1457 1.5.7 Dennis Wing ...... 1457 Chapter 5 Rules and Policies ...... (nil) 1.6 Notices from the Office of the Secretary with Related Chapter 6 Request for Comments ...... (nil) Statements of Allegations ...... (nil) Chapter 7 Insider Reporting ...... 1507 Chapter 2 Decisions, Orders and Rulings ...... 1459 2.1 Decisions ...... 1459 Chapter 9 Legislation ...... (nil) 2.1.1 Franklin Templeton Investments Corp. et al...... 1459 Chapter 11 IPOs, New Issues and Secondary 2.1.2 CMC Markets UK Plc and Financings ...... 1599 CMC Markets Canada Inc...... 1461 2.1.3 MD Financial Management Inc...... 1468 Chapter 12 Registrations ...... 1605 2.1.4 Bristol Gate Capital Partners Inc. et al...... 1473 12.1.1 Registrants ...... 1605 2.2 Orders...... 1479 2.2.1 Dominion Citrus Limited ...... 1479 Chapter 13 SROs, Marketplaces, 2.2.2 West Fraser Timber Co. Ltd. and The Clearing Agencies and Bank of Nova Scotia – s. 6.1 of NI 62-104 Trade Repositories ...... 1607 Take-Over Bids and Issuer Bids ...... 1480 13.1 SROs ...... (nil) 2.2.3 Benedict Cheng et al...... 1486 13.2 Marketplaces ...... 1607 2.2.4 Canadian Pacific Railway Limited and 13.2.1 TSX Inc. – Introduction of Contra Mid-Point National Bank of Canada – s. 6.1 of NI Only (CMO) Order Type – Notice of 62-104 Take-Over Bids and Issuer Bids ...... 1487 Approval ...... 1607 2.2.5 Lance Sandford Cook and 13.3 Clearing Agencies ...... 1608 CBM Canada’s Best Mortgage Corp. 13.3.1 CDCC – Amendments to the Rules of the – ss. 127(1), 127(10) ...... 1493 Canadian Derivatives Clearing Corporation 2.2.6 USI Tech Limited et al. to Expand Share Futures Contracts to – ss. 127(1), 127(5) ...... 1494 Exchange Traded Funds and Trust Units – 2.2.7 First Asset Resource Fund Inc...... 1495 OSC Staff Notice of Request for Comment .... 1608 2.2.8 Dennis Wing ...... 1496 13.4 Trade Repositories ...... (nil) 2.3 Orders with Related Settlement Agreements ...... (nil) Chapter 25 Other Information ...... (nil) 2.4 Rulings ...... (nil) Index ...... 1609

February 22, 2018 (2018), 41 OSCB

Chapter 1

Notices / News Releases

1.2 Notices of Hearing

1.2.1 Natural Bee Works Apiaries Inc. et al. – s. 127(8)

FILE NO.: 2018-7

IN THE MATTER OF NATURAL BEE WORKS APIARIES INC., TAWLIA CHICKALO, RINALDO LANDUCCI and ELISE MAXHELEAU

NOTICE OF HEARING Subsection 127(8) Securities Act, RSO 1990, c S.5

PROCEEDING TYPE: Application for Extension of Temporary Order

HEARING DATE AND TIME: February 21, 2018 at 10:00 a.m.

LOCATION: 20 Queen Street West, 17th Floor, Toronto, Ontario

PURPOSE

The purpose of this proceeding is to consider whether the Commission should grant the Application filed by Staff of the Commission to extend the temporary order issued by the Commission on February 8, 2018.

REPRESENTATION

Any party to the proceeding may be represented by a representative at the hearing.

FAILURE TO ATTEND

IF A PARTY DOES NOT ATTEND, THE HEARING MAY PROCEED IN THE PARTY’S ABSENCE AND THE PARTY WILL NOT BE ENTITLED TO ANY FURTHER NOTICE IN THE PROCEEDING.

FRENCH HEARING

This Notice of Hearing is also available in French on request of a party. Participation may be in either French or English. Participants must notify the Secretary’s Office in writing as soon as possible if the participant is requesting a proceeding be conducted wholly or partly in French.

AVIS EN FRANÇAIS

L'avis d'audience est disponible en français sur demande d’une partie, que la participation à l'audience peut se faire en français ou en anglais et que les participants doivent aviser le Bureau du secrétaire par écrit le plut tôt si le participant demande qu'une instance soit tenue entièrement ou partiellement en français.

Dated at Toronto this 16th day of February, 2018.

“Grace Knakowski” Secretary to the Commission

For more information

Please visit www.osc.gov.on.ca or contact the Registrar at [email protected].

February 22, 2018 (2018), 41 OSCB 1453

Notices / News Releases

1.2.2 USI Tech Limited et al. – s. 127(8)

FILE NO.: 2018-8

IN THE MATTER OF USI TECH LIMITED, ELEANOR PARKER AND CASEY COMDBEN

NOTICE OF HEARING Subsection 127(8) Securities Act, RSO 1990, c S.5

PROCEEDING TYPE: Application for Extension of Temporary Order

HEARING DATE AND TIME: February 26, 2018 at 10:30 a.m.

LOCATION: 20 Queen Street West, 17th Floor, Toronto, Ontario

PURPOSE

REPRESENTATION

Any party to the proceeding may be represented by a representative at the hearing.

FAILURE TO ATTEND

IF A PARTY DOES NOT ATTEND, THE HEARING MAY PROCEED IN THE PARTY’S ABSENCE AND THE PARTY WILL NOT BE ENTITLED TO ANY FURTHER NOTICE IN THE PROCEEDING.

FRENCH HEARING

AVIS EN FRANÇAIS

Dated at Toronto this 16th day of February, 2018.

“Grace Knakowski” Secretary to the Commission

For more information

Please visit www.osc.gov.on.ca or contact the Registrar at [email protected].

February 22, 2018 (2018), 41 OSCB 1454

Notices / News Releases

1.5 Notices from the Office of the Secretary 1.5.2 Lance Sandford Cook and CBM Canada’s Best Mortgage Corp. 1.5.1 Benedict Cheng et al. FOR IMMEDIATE RELEASE FOR IMMEDIATE RELEASE February 16, 2018 February 14, 2018 LANCE SANDFORD COOK and BENEDICT CHENG, CBM CANADA’S BEST MORTGAGE CORP. FRANK SOAVE, JOHN DAVID ROTHSTEIN and TORONTO – The Commission issued its Decision and ERIC TREMBLAY Reasons and an Order pursuant to Subsections 127(1) and 127(10) of the Securities Act in the above noted matter. TORONTO – The Commission issued an Order in the above noted matter. A copy of the Decision and Reasons and the Order dated February 14, 2018 are available at www.osc.gov.on.ca. A copy of the Order dated February 14, 2018 is available at www.osc.gov.on.ca. OFFICE OF THE SECRETARY GRACE KNAKOWSKI OFFICE OF THE SECRETARY SECRETARY TO THE COMMISSION GRACE KNAKOWSKI SECRETARY TO THE COMMISSION For media inquiries:

For media inquiries: [email protected]

[email protected] For investor inquiries:

For investor inquiries: OSC Contact Centre 416-593-8314 OSC Contact Centre 1-877-785-1555 (Toll Free) 416-593-8314 1-877-785-1555 (Toll Free)

February 22, 2018 (2018), 41 OSCB 1455

Notices / News Releases

1.5.3 Benedict Cheng et al. 1.5.4 USI Tech Limited et al.

FOR IMMEDIATE RELEASE FOR IMMEDIATE RELEASE February 16, 2018 February 15, 2018

BENEDICT CHENG, USI TECH LIMITED, FRANK SOAVE, ELEANOR PARKER AND JOHN DAVID ROTHSTEIN and CASEY COMDBEN ERIC TREMBLAY TORONTO – The Commission issued a Temporary Order TORONTO – The Commission issued its Reasons For pursuant to Subsections 127(1) and 127(5) in the above Decision On Motion Regarding Confidentiality in the above named matter. named matter. A copy of the Temporary Order dated February 14, 2018 is A copy of the Reasons For Decision On Motion Regarding available at www.osc.gov.on.ca. Confidentiality dated February 15, 2018 is available at www.osc.gov.on.ca. OFFICE OF THE SECRETARY GRACE KNAKOWSKI OFFICE OF THE SECRETARY SECRETARY TO THE COMMISSION GRACE KNAKOWSKI SECRETARY TO THE COMMISSION For media inquiries:

For media inquiries: [email protected]

[email protected] For investor inquiries:

For investor inquiries: OSC Contact Centre 416-593-8314 OSC Contact Centre 1-877-785-1555 (Toll Free) 416-593-8314 1-877-785-1555 (Toll Free)

February 22, 2018 (2018), 41 OSCB 1456

Notices / News Releases

1.5.5 Natural Bee Works Apiaries Inc. et al. 1.5.6 USI Tech Limited et al.

FOR IMMEDIATE RELEASE FOR IMMEDIATE RELEASE February 16, 2018 February 16, 2018

NATURAL BEE WORKS APIARIES INC., USI TECH LIMITED, TAWLIA CHICKALO, ELEANOR PARKER AND RINALDO LANDUCCI and CASEY COMDBEN, ELISE MAXHELEAU, File No. 2018-8 File No. 2018-7 TORONTO – The Office of the Secretary issued a Notice of TORONTO – The Office of the Secretary issued a Notice of Hearing setting the matter down to be heard on February Hearing setting the matter down to be heard on February 26, 2018 at 10:30 a.m. to consider an Application for 21, 2018 at10:00 a.m. to consider an Application for Extension of Temporary. Extension of Temporary. A copy of the Notice of Hearing dated February 16, 2018 A copy of the Notice of Hearing dated February 16, 2018 and the Application for Extension of Temporary Order and the Application for Extension of Temporary Order dated February 15, 2018 are available at dated February 15, 2018 are available at www.osc.gov.on.ca. www.osc.gov.on.ca. OFFICE OF THE SECRETARY OFFICE OF THE SECRETARY GRACE KNAKOWSKI GRACE KNAKOWSKI SECRETARY TO THE COMMISSION SECRETARY TO THE COMMISSION For media inquiries: For media inquiries: [email protected] [email protected] For investor inquiries: For investor inquiries: OSC Contact Centre OSC Contact Centre 416-593-8314 416-593-8314 1-877-785-1555 (Toll Free) 1-877-785-1555 (Toll Free)

February 22, 2018 (2018), 41 OSCB 1457

Notices / News Releases

1.5.7 Dennis Wing

FOR IMMEDIATE RELEASE February 20, 2018

DENNIS WING

TORONTO – The Commission issued an Order in the above named matter.

A copy of the Order dated February 20, 2018 is available at www.osc.gov.on.ca.

OFFICE OF THE SECRETARY GRACE KNAKOWSKI SECRETARY TO THE COMMISSION

For media inquiries:

[email protected]

For investor inquiries:

OSC Contact Centre 416-593-8314 1-877-785-1555 (Toll Free)

February 22, 2018 (2018), 41 OSCB 1458

Chapter 2

Decisions, Orders and Rulings

2.1 Decisions Under the Process for Exemptive Relief Applications in Multiple Jurisdictions (for a passport application): 2.1.1 Franklin Templeton Investments Corp. et al. a) the Ontario Securities Commission is the Headnote principal regulator for this application; and National Policy 11-203 Process for Exemptive Relief Applications in Multiple Jurisdictions – Relief granted to b) the Filer has provided notice that sub- mutual funds for extension of lapse date of their prospectus section 4.7(1) of Multilateral Instrument for 49 days – Filer will incorporate offering of the mutual 11-102 – Passport System (MI 11-102) is funds under the same offering documents as related family intended to be relied upon in each of the of funds when they are renewed – Extension of lapse date other provinces and territories of Canada will not affect the currency or accuracy of the information (together with Ontario, the Jurisdic- contained in the current prospectus. tions).

Applicable Legislative Provisions Interpretation

Securities Act, R.S.O. 1990, c. S.5, as am., s. 62(5). Defined terms contained in National Instrument 14-101 Definitions and MI 11-102 have the same meaning if used February 6, 2018 in this decision, unless otherwise defined.

IN THE MATTER OF Representations THE SECURITIES LEGISLATION OF ONTARIO This decision is based on the following facts represented (the Jurisdiction) by the Filer:

AND 1. The Filer is a corporation amalgamated under the laws of Ontario. The Filer’s head office is located IN THE MATTER OF in Toronto, Ontario. THE PROCESS FOR EXEMPTIVE RELIEF APPLICATIONS IN MULTIPLE JURISDICTIONS 2. The Filer is registered as an investment fund manager in Ontario, Quebec, Alberta, British AND Columbia, Manitoba, Nova Scotia, and Newfoundland and Labrador, as a mutual fund IN THE MATTER OF dealer, portfolio manager and exempt market FRANKLIN TEMPLETON INVESTMENTS CORP. dealer in each province of Canada and the Yukon, (the Filer) and as a commodity trading manager in Ontario.

AND 3. Each Fund is a mutual fund trust governed by the laws of the Province of Ontario and is a reporting IN THE MATTER OF issuer as defined in the securities legislation of FT BALANCED GROWTH POOL, each of the Jurisdictions. FT BALANCED INCOME POOL AND FT GROWTH POOL 4. Neither the Filer nor any of the Funds are in (the Funds) default of securities legislation in any of the Jurisdictions. DECISION 5. Each Fund currently distributes its securities in the Background Jurisdictions pursuant to a simplified prospectus dated April 18, 2017, as amended and restated on The principal regulator in the Jurisdiction has received an May 25, 2017 and as amended by amendment no. application from the Filer on behalf of the Funds for a 1 dated October 4, 2017, and annual information decision under the securities legislation of the Jurisdiction form dated April 18, 2017, as amended and (the Legislation) that the time limits for the renewal of the restated on May 25, 2017 and as amended by simplified prospectus of the Funds dated April 18, 2017 be amendment no. 1 dated October 4, 2017 extended to those time limits that would apply if the lapse (collectively, the Current Prospectus). date was June 6, 2018 (the Requested Relief).

February 22, 2018 (2018), 41 OSCB 1459

Decisions, Orders and Rulings

6. The lapse date of the Current Prospectus under current information to investors regarding the the Legislation is April 18, 2018 (the Current Funds. Lapse Date). Accordingly, under the Legislation, the distribution of securities of the Fund would 12. Given the disclosure obligation of the Funds, have to cease on the Current Lapse Date unless: should any material changes occur, the Current (i) the Fund files a pro forma simplified prospectus Prospectus of the Funds will be amended as at least 30 days prior to the Current Lapse Date; required under the Legislation. (ii) the final simplified prospectus is filed no later than 10 days after the Current Lapse Date; and 13. New investors of the Funds will receive delivery of (iii) a receipt for the final simplified prospectus is the most recently filed Fund Facts of the Funds. obtained within 20 days after the Current Lapse The Current Prospectus of the Funds will still be Date. available upon request.

7. The Filer is the manager and trustee of the Funds. 14. The Requested Relief will not affect the accuracy The Filer is also the manager of, amongst other of the information contained in the Current funds, 73 funds which are offered in each of the Prospectus and therefore will not be prejudicial to provinces and territories of Canada under its the public interest. largest simplified prospectus dated June 6, 2017, the lapse date of which is June 6, 2018 (the Other Decision Funds). The principal regulator is satisfied that the decision meets 8. The Filer wishes to combine the Current Pros- the test set out in the Legislation for the principal regulator pectus of the Funds with the simplified prospectus to make the decision. of the Other Funds in order to reduce the cost of renewing the Current Prospectus of the Funds The decision of the principal regulator under the Legislation and on-going printing and related costs. Offering is that the Requested Relief is granted. the Funds under the same prospectus as the Other Funds would facilitate the distribution of the “Vera Nunes” Funds in the Jurisdictions under the same Manager, Investment Funds and Structured Products simplified prospectus. Ontario Securities Commission

9. It would be impractical to alter and modify all the dedicated systems, procedures and resources required to prepare the renewal simplified prospectus, annual information form and Fund Facts of the Other Funds, and unreasonable to incur the costs and expenses associated therewith, so that the renewal simplified prospectus of the Other Funds can be filed earlier with the renewal simplified prospectus of the Funds. As the simplified prospectus of the Other Funds is a large document and there is an in-depth internal review process that the Filer undertakes when renewing that document, the Filer would not have sufficient time to finalize and file the pro forma simplified prospectus of the Other Funds by at least 30 days prior to the Current Lapse Date.

10. If the Exemption Sought is not granted, it will be necessary to renew the simplified prospectus and associated documents of the Funds twice within a short period of time in order to consolidate the simplified prospectus of the Funds with the simplified prospectus of the Other Funds.

11. There have been no material changes in the affairs of the Funds since the date of the Current Prospectus, other than those for which amendments have been filed. Accordingly, the Current Prospectus represents the current information of the Funds. In addition, the most recently filed Fund Facts of the Funds provides even more

February 22, 2018 (2018), 41 OSCB 1460

Decisions, Orders and Rulings

2.1.2 CMC Markets UK Plc and CMC Markets Canada Inc.

Headnote

National Policy 11-203 Process for Exemptive Relief Applications in Multiple Jurisdictions – Application by UK-based filer (Filer) and Canadian dealer affiliate (Dealer) (collectively, Applicants) for relief from prospectus requirement in connection with distribution by Filer through Dealer of "contracts for difference" and foreign exchange contracts (collectively CFDs) to investors resident in Applicable Jurisdictions, subject to terms and conditions – Filer regulated by the United Kingdom Financial Conduct Authority (FCA) – Dealer is registered in Ontario as investment dealer and a member of the Investment Industry Regulatory Organization of Canada (IIROC) – Applicants seeking relief to permit Applicants to offer CFDs to investors in Applicable Jurisdictions on a similar basis as in Québec, including relief permitting Applicants to distribute CFDs on the basis of clear and plain language risk disclosure document rather than a prospectus – risk disclosure document contains disclosure substantially similar to risk disclosure document required for recognized options in OSC Rule 91-502 Trades in Recognized Options and the regime for OTC derivatives contemplated by former proposed OSC Rule 91-504 OTC Derivatives (which was not adopted), and the Quebec Derivatives Act – Relief consistent with relief contemplated by OSC Staff Notice 91-702 Offerings of contracts for difference and foreign exchange contracts to investors in Ontario (OSC SN 91-702) – Relief granted, subject to terms and conditions as described in OSC SN 91-702 including four-year sunset clause.

Applicable Legislative Provisions

Securities Act, R.S.O. 1990, c.S.5, as am., ss. 53,74(1). OSC Rule 91-502 Trades in Recognized Options. OSC Rule 91-503 Trades in Commodity Futures Contracts and Commodity Futures Options Entered into on Commodity Futures Exchanges Situate Outside of Ontario. Proposed OSC Rule 91-504 OTC Derivatives (not adopted).

January 30, 2018

IN THE MATTER OF THE SECURITIES LEGISLATION OF ONTARIO (the Jurisdiction)

AND

IN THE MATTER OF THE PROCESS FOR EXEMPTIVE RELIEF APPLICATIONS IN MULTIPLE JURISDICTIONS

AND

IN THE MATTER OF CMC MARKETS UK PLC AND CMC MARKETS CANADA INC. (the Filers)

DECISION

Background

The principal regulator in the Jurisdiction has received an application (the Application) from CMC Markets UK Plc (CMC UK) and CMC Markets Canada Inc. (CMC Canada) (CMC UK and CMC Canada, together the Filers) for a decision under the securities legislation of the Jurisdiction (the Legislation) that the Filers and their respective officers, directors and representatives be exempt from the prospectus requirement in respect of the distribution of contracts for difference and over- the-counter (OTC) foreign exchange contracts (collectively, CFDs) to investors resident in the Applicable Jurisdictions (as defined below) subject to the terms and conditions below (the Requested Relief).

Under the Process for Exemptive Relief Applications in Multiple Jurisdictions (for a passport application):

(a) the Ontario Securities Commission is the principal regulator for this application (the Principal Regulator); and

(b) the Filers have provided notice that section 4.7(1) of Multilateral Instrument 11-102 Passport System (MI 11- 102) is intended to be relied upon in each of the other provinces and territories of Canada, other than the

February 22, 2018 (2018), 41 OSCB 1461

Decisions, Orders and Rulings

provinces of Québec and Alberta, (the Non-Principal Jurisdictions, and, together with the Jurisdiction, the Applicable Jurisdictions).

Interpretation

Terms defined in National Instrument 14-101 Definitions and MI 11-102 have the same meaning if used in this decision, unless otherwise defined.

Representations

This decision is based on the following facts represented by the Filers:

The Filers

1. CMC UK is a company organized under the laws of England and Wales with its principal office in London, United Kingdom. Founded in 1989, CMC UK is an established international on-line trading company which, with its affiliates, offers CFDs to a broad range of clients in many countries.

2. CMC UK is a privately held company, controlled indirectly by its principal founder, Mr. Peter Cruddas. CMC Markets Plc, the ultimate parent company of both CMC UK and CMC Canada, is a privately held company controlled directly by its principal founder, Mr. Peter Cruddas.

3. CMC UK is authorized and regulated by the United Kingdom Financial Conduct Authority (the FCA) in the United Kingdom. CMC UK is currently regulated as a full scope BIPRU investment firm by the FCA. CMC UK is licensed in the U.K., among other things, to act as principal to its clients in the products it offers and may deal with all categories of clients, including directly with retail clients. Furthermore, CMC UK is regulated on a consolidated basis in the UK by the FCA.

4. CMC UK is a "regulated entity" as defined in the rules and regulations (the IIROC Rules) of the Investment Industry Regulatory Organization of Canada (IIROC).

5. CMC UK has established a Canadian dealer affiliate, CMC Canada, to act as a dealer for CFDs offered by CMC UK to Canadian clients.

6. CMC Canada is a corporation amalgamated under the laws of Canada with its principal office in Toronto, Ontario. CMC Canada is an affiliate of CMC UK. CMC Markets plc is the ultimate parent company of both CMC UK and CMC Canada.

7. CMC Canada is registered as a dealer in the category of investment dealer in each of the provinces and territories of Canada, and is a member of IIROC.

8. Neither of the Filers has any securities listed or quoted on an exchange or marketplace in any jurisdiction inside or outside of Canada.

9. The Filers offer CFDs to investors in each of the provinces and territories of Canada, except Québec and Alberta, (each an Applicable Jurisdiction) in accordance with the representations, terms and conditions described in the Existing Relief and wants to continue to do so in accordance with the representations, terms and conditions set out in this Decision. During the Interim Period (as defined below), the Filers are seeking the Requested Relief in connection with the offering of CFDs to investors in Ontario and intend to rely on this Decision and the Passport System described in MI 11-102 to offer CFDs in the Non-Principal Jurisdictions.

10. Neither of the Filers is in default of any requirements of securities or derivatives legislation in Canada or the IIROC Rules or the IIROC Acceptable Practices (each, as defined below), except with respect to the fact that the Existing Relief has lapsed and was not renewed on a timely basis. The Filers have at all times since the Existing Relief lapsed acted in full compliance with the terms and conditions set out in such relief, except for the four-year sunset clause.

11. In Québec, CMC UK is qualified by the Autorité des marchés financiers (AMF) pursuant to section 82 of the Derivatives Act (Québec) (the QDA) and authorized to market certain forward contracts and CFDs offered to the public, subject to the terms and conditions of its qualification decision and related provisions of the QDA.

12. The Filers understand that staff of the Alberta Securities Commission have public interest concerns with CFD trading by retail clients and, accordingly, the Filers do not offer CFDs to retail investors in Alberta. The Filers undertake not to give notice that subsection 4.7(1) of MI 11-102 is intended to be relied upon in Alberta.

February 22, 2018 (2018), 41 OSCB 1462

Decisions, Orders and Rulings

IIROC Rules and Acceptable Practices

13. As a member of IIROC, CMC Canada is only permitted to enter into CFDs pursuant to the rules and regulations of IIROC (the IIROC Rules).

14. In addition, IIROC has communicated to its members certain additional expectations as to acceptable business practices (IIROC Acceptable Practices) as articulated in IIROC's paper "Regulatory Analysis of Contracts for Differences (CFDs)" published by IIROC on June 6, 2007, as amended on September 12, 2007, for any IIROC member proposing to offer CFDs to investors. Each of the Filers is in compliance with IIROC Acceptable Practices in offering CFDs. The Filers will continue to offer CFDs in accordance with IIROC Acceptable Practices as may be established from time to time, and will not offer CFDs linked to bitcoin, cryptocurrencies or other novel or emerging asset classes to investors in the Applicable Jurisdictions without the prior written consent of IIROC.

15. CMC Canada is required by IIROC to maintain a certain level of capital to address the business risks associated with its activities. The capital reporting required by IIROC (as per the calculation in the Form 1 Joint Regulatory Financial Questionnaire and Report (Form 1) and in the Monthly Financial Reports to IIROC) is based predominantly on the generation of financial statements and calculations so as to ensure capital adequacy. CMC Canada, as an IIROC member, is required to have a specified minimum capital which includes having any additional capital required with regards to margin requirements and other risks. This risk calculation is summarized as a risk adjusted capital calculation which is submitted in CMC Canada's Form 1 and required to be kept positive at all times.

Oversight of CMC UK

16. CMC UK is authorized and regulated by the FCA in the United Kingdom. CMC UK is currently regulated as a full scope BIPRU firm with the FCA. CMC UK is licensed, among other things, to act as principal to its clients in the products offered and may deal with all categories of clients, including directly with retail investors.

17. In order for a firm to be authorized and regulated by the FCA, the FCA must be satisfied that the firm meets certain threshold conditions prescribed by the Financial Services and Markets Act 2000 and under the FCA’s Handbook of Rules and Guidance. In similar fashion to reviews conducted by IIROC and the Principal Regulator, the FCA reviews, among other things, the firm’s legal status, location of offices, adequacy of resources and suitability. In order to remain authorized, a registered firm must demonstrate its continuing compliance with these conditions.

18. As an FCA-regulated firm, CMC UK is required to comply with certain rules of the FCA (the FCA Rules). The FCA Rules seek to ensure, among other things, that regulated firms satisfy certain minimum standards. These minimum standards include the requirement that CMC UK maintain adequate financial resources at all times, so that CMC UK is able to meet its liabilities as they fall due. The FCA requires CMC UK to maintain capital resources equal to or in excess of its base capital requirement plus a firm specific variable capital requirement to address market, capital and operational risks. CMC UK monitors its regulatory capital on a daily basis (or more frequently depending on market conditions).

19. The FCA also requires CMC UK to:

(a) file financial reports on a monthly basis with the FCA;

(b) immediately notify the FCA of any breach of the capital adequacy requirement; and

(c) submit its audited financial statements within three months of the financial year end together with an annual return and reconciliation of the annual return to the audited financial statements.

Online Trading Platform

20. The Filers’ NextGeneration® platform (the Trading Platform) is a proprietary and fully automated internet-based trading platform which allows clients to trade CFDs on an execution-only basis.

21. The Trading Platform is a key component in a comprehensive risk management strategy which helps the Filers' clients and the Filers to manage the risks associated with leveraged products. This risk management system has evolved over many years with the objective of meeting the mutual interests of all relevant parties (including, in particular, clients). These attributes and services are described in more detail below:

(a) Real-time account status and client reporting. Clients are provided with a real-time view of their account status. This includes how tick-by-tick price movements affect their account balances and required margins. Clients can view this information at any time by logging into their account.

February 22, 2018 (2018), 41 OSCB 1463

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(b) Fully automated risk management system. Clients are instructed that they must maintain the required margin against their position(s). The risk management functionality of the Trading Platform ensures that client positions are closed out when the client no longer maintains sufficient margin in their account to support the position, thereby preventing the client from being placed in a margin call situation or losing more than their stated risk capital or cumulative loss limit. This functionality also ensures that the Filers will not incur any credit risk vis-à-vis its customers in respect of CFD transactions.

(c) Wide range of order types. The Trading Platform also provides risk management tools such as stop loss orders, limit orders, contingent orders and upper and lower bounds on market orders. These tools are designed to help clients reduce the risk of loss.

22. The Trading Platform is similar to those developed for on-line brokerages in that the client trades without other communication with, or advice from, the dealer. The Trading Platform is not a "marketplace" as defined in National Instrument 21-101 Marketplace Operation since a marketplace is any facility that brings together multiple buyers and sellers by matching orders in fungible contracts in a nondiscretionary manner.

23. CMC UK is the counterparty to its clients' CFD trades; it will not act as an intermediary, broker or trustee in respect of the CFD transactions. Neither of the Filers manage any discretionary accounts, nor do they provide any trading advice or recommendations regarding CFD transactions.

24. The CFDs are OTC contracts and are not transferable.

25. The ability to lever an investment is one of the principal features of CFDs. Leverage allows clients to magnify investment returns (or losses) by reducing the initial capital outlay required to achieve the same market exposure that would be obtained by investing directly in the underlying instrument, asset or sector.

26. The IIROC Rules and the IIROC Acceptable Practices set out detailed requirements and expectations relating to leverage and margin for offerings of CFDs. The degree of leverage may be amended in accordance with the IIROC Rules and the IIROC Acceptable Practices as may be established from time to time.

27. Pursuant to section 13.12 Restriction on lending to clients of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations, only those firms that are registered as investment dealers (a condition of which is to be a member of IIROC) may lend money, extend credit or provide margin to a client.

Structure of CFDs

28. A CFD is a derivative product that allows clients to obtain economic exposure to the price movement of an underlying instrument, asset or sector, such as a share, index, market sector, currency pair, treasury or commodity, without the need for ownership and physical settlement of the underlying instrument or asset. Unlike certain OTC derivatives, such as forward contracts, CFDs do not require or oblige either the principal counterparty (being CMC UK for the purposes of the Requested Relief) nor any agent (being CMC Canada for the purposes of the Requested Relief) to deliver the underlying instrument or asset.

29. CFDs to be offered by the Filers will not confer the right or obligation to acquire or deliver the underlying security, instrument or asset itself, and will not confer any other rights of shareholders of the underlying security, instrument or asset, such as voting rights. Rather, a CFD is a derivative instrument which is represented by an agreement between a counterparty and a client to exchange the difference between the opening price of a CFD position and the price of the CFD at the closing of the position. The value of the CFD is generally reflective of the movement in prices at which the underlying instrument or asset is traded at the time of opening and closing the position in the CFD.

30. CFDs allow clients to take a long or short position on an underlying instrument, asset or sector, but unlike futures contracts they have no fixed expiry date or standard contract size or an obligation for physical delivery of the underlying instrument or asset.

31. CFDs allow clients to obtain exposure to markets, instruments and assets that may not be available directly, or may not be available in a cost-effective manner.

CFDs Distributed in the Applicable Jurisdictions

32. Certain types of CFDs, such as CFDs where the underlying instrument is a security, may be considered to be "securities" under the securities legislation of the Applicable Jurisdictions.

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33. Investors wishing to purchase CFDs must open an account with CMC Canada and complete a principal contract with CMC UK.

34. Prior to a client's first CFD transaction and as part of the account opening process, the Filers will provide the client with a separate risk disclosure document that clearly explains, in plain language, the transaction and the risks associated with the transaction (the Risk Disclosure Document). The risk disclosure document includes the required risk disclosure set forth in Schedule A to the Regulations to the QDA and leverage risk disclosure required under the IIROC Rules. The Risk Disclosure Document contains disclosure that is substantially similar to the risk disclosure statement required for recognized options in OSC Rule 91-502 Trades in Recognized Options (which provides both registration and prospectus exemptions) (OSC Rule 91-502) and the regime for OTC derivatives contemplated by OSC SN 91-702 (as defined below) and proposed OSC Rule 91-504 OTC Derivatives (which was not adopted) (Proposed Rule 91- 504). The Filers will ensure that, prior to a client's first trade in a CFD transaction, a complete copy of the Risk Disclosure Document provided to that client has been delivered, or has previously been delivered, to the Principal Regulator.

35. Prior to a client's first CFD transaction and as part of the account opening process, CMC Canada will obtain a written or electronic acknowledgement from the client confirming that the client has received, read and understood the Risk Disclosure Document. Such acknowledgement is separate and prominent from other acknowledgements provided by the client as part of the account opening process.

36. As is customary in the industry, and due to the fact that this information is subject to factors beyond the control of the Filers (such as changes in the IIROC Rules), information such as the underlying instrument listing and associated margin rates would not be disclosed in the Risk Disclosure Document but will be available to the client at the time of account opening on both CMC Canada’s website and the Trading Platform.

Satisfaction of the Registration Requirement

37. The role of CMC Canada as it relates to the CFD offering is limited to acting as an execution-only dealer. In this role, CMC Canada, among other things, is responsible for approving all marketing, for holding of clients funds, and for client approval (including the review of know-your-client (KYC) due diligence and account opening suitability assessments).

38. IIROC Rules exempt member firms that provide execution-only services such as discount brokerages from the obligation to determine whether each trade is suitable for a client. However, IIROC has exercised its discretion to impose additional requirements on members proposing to trade in CFDs (namely the IIROC Acceptable Practices described in paragraph 14) which requires, among other things, that:

(a) applicable risk disclosure documents and client suitability waivers provided be in a form acceptable to IIROC;

(b) the firm's policies and procedures, amongst other things, require CMC Canada to assess whether CFD trading is appropriate for a client before an account is approved to be opened. This account opening suitability process includes an assessment of the client's investment knowledge and trading experience, client identification, screening applicants and customers against lists of prohibited/blocked persons, and detecting and reporting suspicious trading and potential terrorist financing and money laundering activities to applicable enforcement authorities;

(c) CMC Canada’s registered dealing representatives, as well as their registered supervisors who oversee the KYC and initial product suitability analysis will meet, or be exempt from, the proficiency requirements for futures trading and will be registered with IIROC as Investment Representative for retail customers in the product category of Futures Contracts and Futures Contract Options (IR). In addition, CMC Canada must have a fully qualified Supervisor for such products; and

(d) cumulative loss limits for each client's account be established (this is a measure normally used by IIROC in connection with futures trading accounts).

39. The CFDs offered in Canada are offered in compliance with applicable IIROC Rules and other IIROC Acceptable Practices.

40. IIROC limits the underlying instruments in respect of which a member firm may offer CFDs since only certain securities are eligible for reduced margin rates. For example, underlying equity securities must be listed or quoted on certain "recognized exchanges" (as that term is defined in the IIROC Rules) such as the Toronto Stock Exchange or the New York Stock Exchange. The purpose of these limits is to ensure that CFDs offered in Canada will only be available in respect of underlying instruments that are traded in well-regulated markets, in significant enough volumes and with

February 22, 2018 (2018), 41 OSCB 1465

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adequate publicly available information, so that clients can form a sufficient understanding of the exposure represented by a given CFD.

41. The IIROC Rules prohibit the margining of CFDs where the underlying instrument is a synthetic product (single U.S. sector or "mini-indices"). For example, Sector CFDs (i.e., basket of equities for the financial institutions industry) may be offered to non-Canadian clients; however, this is not permissible under the IIROC Rules.

42. IIROC members seeking to trade CFDs are generally precluded, by virtue of the nature of the contracts, from distributing CFDs that confer the right or obligation to acquire or deliver the underlying security, instrument or asset itself (convertible CFDs), or that confer any other rights of shareholders of the underlying security, instrument or asset, such as voting rights.

43. The Requested Relief, if granted, would (and the Existing Relief does) substantially harmonize the position of the regulators in the Applicable Jurisdictions on the offering of CFDs to investors in the Applicable Jurisdictions with how those products are offered to investors in Québec under the QDA. The QDA provides a legislative framework to govern derivatives activities within that province. Among other things, the QDA requires such products to be offered to investors through an IIROC member and the distribution of a standardized risk disclosure document rather than a prospectus in order to distribute such contracts to investors resident in Québec.

44. The Requested Relief, if granted, would be (and the Existing Relief is) consistent with the guidelines articulated by Staff of the Principal Regulator in OSC Staff Notice 91-702 Offerings of Contracts for Difference and Foreign Exchange Contracts to Investors (OSC SN 91-702). OSC SN 91-702 provides guidance with regards to the distributions of CFDs, foreign exchange contracts and similar OTC derivative products to investors in the Jurisdiction.

45. The Principal Regulator has previously recognized that the prospectus requirement may not be well suited for the distribution of certain derivative products to investors in the Jurisdiction, and that alternative requirements, including requirements based on clear and plain language risk disclosure, may be better suited for certain derivatives.

46. In Ontario, both OSC Rule 91-502 and OSC Rule 91-503 Trades in Commodity Futures Contracts and Commodity Futures Options Entered into on Commodity Futures Exchanges Situate Outside of Ontario (OSC Rule 91-503) provide for a prospectus exemption for the trading of derivative products to clients. The Requested Relief is consistent with the principles and requirements of OSC Rule 91-502, OSC Rule 91-503 and Proposed Rule 91-504.

47. The Filers submit that the Requested Relief, if granted, would (and the Existing Relief does) harmonize the Principal Regulator's position on the offering of CFDs with certain other foreign jurisdictions that have concluded that a clear, plain language risk disclosure document is appropriate for retail clients seeking to trade in foreign exchange contracts.

48. The Filers are of the view that requiring compliance with the prospectus requirement in order to enter into CFDs with retail clients would not be appropriate since the disclosure of a great deal of the information required under a prospectus and under the reporting issuer regime is not material to a client seeking to enter into a CFD transaction. The information to be given to such a client should principally focus on enhancing the client's appreciation of product risk including counterparty risk. In addition, most CFD transactions are of short duration (positions are generally opened and closed on the same day) and are settled when positions are closed. Profit and loss for each position is accumulated for the duration of the period the position is held.

49. CMC UK is regulated by the FCA which has a robust compliance regime including specific requirements to address market, capital and operational risks. CMC Canada is regulated by IIROC, which has a robust compliance regime including specific requirements to address market, capital and operational risks.

50. The Filers submit that the regulatory regimes developed by the FCA, AMF and IIROC for CFDs adequately address issues relating to the potential risk to the clients of CMC UK acting as counterparty. In view of these regulatory regimes, investors would receive little or no additional benefit from requiring the Filers to also comply with the prospectus requirement.

51. The Requested Relief in respect of each Applicable Jurisdiction is conditional on the CMC Canada being registered as an investment dealer with the securities regulator in such Applicable Jurisdiction and maintaining its membership with IIROC and that all CFD transactions be conducted pursuant to the IIROC Rules and in accordance with the IIROC Acceptable Practices.

Decision

The Principal Regulator is satisfied that the test set out in the Legislation to make the Decision is met.

February 22, 2018 (2018), 41 OSCB 1466

Decisions, Orders and Rulings

The Decision of the Principal Regulator is that the Requested Relief is granted provided that:

(a) all CFDs traded with residents in the Applicable Jurisdictions shall be executed through CMC Canada;

(b) CMC UK remains registered with the FCA and in compliance with FCA Rules;

(c) with respect to residents of an Applicable Jurisdiction, CMC Canada remains registered as a dealer in the category of investment dealer with the Principal Regulator and the Commission in such Applicable Jurisdiction and a member of IIROC;

(d) all CFD transactions with clients resident in the Applicable Jurisdictions shall be conducted pursuant to the IIROC Rules imposed on members seeking to trade in CFDs and in accordance with the IIROC Acceptable Practices, as amended from time to time;

(e) if the Filers continue to offer CFDs to residents of Québec, all CFD transactions with clients resident in the Applicable Jurisdictions be conducted pursuant to the rules and regulations of the QDA and the AMF, as amended from time to time, unless and to the extent there is a conflict between i) the rules and regulations of the QDA and the AMF, and ii) the requirements of the securities laws of the Applicable Jurisdictions, the IIROC Rules and the IIROC Acceptable Practices, in which case the latter shall prevail;

(f) prior to a client first entering into a CFD transaction, the Filers have provided to the client the Risk Disclosure Document described in paragraph 34 and have delivered, or have previously delivered, a copy of the Risk Disclosure Document provided to that client to the Principal Regulator;

(g) prior to a client's first CFD transaction and as part of the account opening process, the Filers have obtained a written or electronic acknowledgement from the client, as described in paragraph 35, confirming that the client has received, read and understood the Risk Disclosure Document;

(h) the Filers have furnished to the Principal Regulator the name and principal occupation of its officers and directors, together with either the personal information form and authorization of indirect collection, use and disclosure of personal information provided for in National Instrument 41-101 General Prospectus Requirements or the registration information form for an individual provided for in Form 33-109F4 of National Instrument 33-109 Registration Information Requirements completed by any officer or director;

(i) the Filers shall promptly inform the Principal Regulator in writing of any material change affecting the Filers, being any change in the business, activities, operations or financial results or condition of the Filers that may reasonably be perceived by a counterparty to a derivative to be material;

(j) the Filers shall promptly inform the Principal Regulator in writing if a self-regulatory organization or any other regulatory authority or organization initiates proceedings or renders a judgment related to disciplinary matters against the Filers concerning the conduct of activities with respect to CFDs;

(k) within 90 days following the end of its financial year, CMC UK shall submit to the Principal Regulator the audited annual financial statements of CMC UK; and

(l) the Requested Relief shall immediately expire upon the earliest of:

(i) four years from the date that this Decision is issued;

(ii) in respect of a subject Applicable Jurisdiction or Québec, the issuance of an order or decision by a court, the Commission in such Applicable Jurisdiction, the AMF (in respect of Québec) or other similar regulatory body that suspends or terminates the ability of the Filers to offer CFDs to clients in such Applicable Jurisdiction or Québec; and

(iii) with respect to an Applicable Jurisdiction, the coming into force of legislation or a rule by its Commission regarding the distribution of OTC derivatives to investors in such Applicable Jurisdiction

(the Interim Period).

“Deborah Leckman” “Robert Hutchison” Commissioner Commissioner Ontario Securities Commission Ontario Securities Commission

February 22, 2018 (2018), 41 OSCB 1467

Decisions, Orders and Rulings

2.1.3 MD Financial Management Inc.

Headnote

National Policy 11-203 Process for Exemptive Relief Applications in Multiple Jurisdictions – fund family relief from the requirement to send a printed information circular to registered holders of the securities of an investment fund – relief subject to conditions, including sending an explanatory document in lieu of the printed information circular and giving securityholders the option to request and obtain at no charge a printed information circular – notice-and-access for investment funds – National Instrument 81-106 Investment Fund Continuous Disclosure.

Applicable Legislative Provisions

National Instrument 81-106 Investment Fund Continuous Disclosure, s. 12.2(2)(a).

February 9, 2018

IN THE MATTER OF THE SECURITIES LEGISLATION OF ONTARIO (the Jurisdiction)

AND

IN THE MATTER OF THE PROCESS FOR EXEMPTIVE RELIEF APPLICATIONS IN MULTIPLE JURISDICTIONS

AND

IN THE MATTER OF MD FINANCIAL MANAGEMENT INC. (the Filer)

DECISION

Background

The principal regulator in the Jurisdiction has received an application from the Filer, in respect of existing and future investment funds that are or will be managed from time to time by the Filer or by a successor of the Filer (collectively, the Funds, and each a Fund), for a decision under the securities legislation of the Jurisdiction (the Legislation) granting an exemption from the requirement contained in paragraph 12.2(2)(a) of National Instrument 81-106 Investment Fund Continuous Disclosure (NI 81- 106) that a person or company that solicits proxies, by or on behalf of management of a Fund, send an information circular to each registered holder of securities of a Fund whose proxy is solicited, and instead allow the Funds to send a Notice-and- Access Document (as defined in condition 1 of this decision) using the Notice-and-Access Procedure (as defined in condition 2 of this decision) (the Exemption Sought).

Under the Process for Exemptive Relief Applications in Multiple Jurisdictions (for a passport application):

(a) the Ontario Securities Commission is the principal regulator for this application; and

(b) the Filer has provided notice that Section 4.7(1) of Multilateral Instrument 11-102 Passport System (MI 11- 102) is intended to be relied upon in British Columbia, Alberta, Manitoba, Saskatchewan, Quebec, New Brunswick, Nova Scotia, Newfoundland and Labrador, Prince Edward Island, Nunavut, Yukon and Northwest Territories (collectively, with the Jurisdiction, the Jurisdictions).

Interpretation

Terms defined in National Instrument 14-101 Definitions, MI 11-102, National Instrument 51-102 Continuous Disclosure Obligations (NI 51-102) and National Instrument 54-101 Communication with Beneficial Owners of Securities of a Reporting Issuer (NI 54-101) have the same meaning if used in this decision, unless otherwise defined.

February 22, 2018 (2018), 41 OSCB 1468

Decisions, Orders and Rulings

Representations

This decision is based on the following facts represented by the Filer:

The Filer and the Funds

1. The Filer is a corporation incorporated under the laws of Canada with its head office located in Ottawa, Ontario. The Filer is registered as a portfolio manager in each of the provinces and territories of Canada and is registered in Ontario in the category of exempt market dealer, commodity trading manager and investment fund manager. The Filer is also registered as an investment fund manager in the provinces of Quebec and Newfoundland and Labrador.

2. The Funds are, or will be, managed by the Filer or by an affiliate or successor of the Filer.

3. The Funds are, or will be, investment funds that are, or will be, reporting issuers in one or more of the Jurisdictions.

4. Neither the Filer nor any of the existing Funds, are in default of any of the requirements of securities legislation of the Jurisdictions.

Meetings of Securityholders of the Funds

5. Pursuant to applicable legislation, the Filer must call a meeting of securityholders of one or more Funds from time to time to consider and vote on matters requiring securityholder approval.

6. In connection with a meeting of securityholders, a Fund is required to comply with the requirements in NI 81-106 regarding the sending of proxies and information circulars to registered holders of its securities, which include a requirement that each person or company that solicits proxies by or on behalf of management of a Fund send, with the notice of meeting, to each registered holder of securities of a Fund whose proxy is solicited, an information circular, prepared in compliance with the requirements of Form 51-102F5 Information Circular of NI 51-102, to securityholders of record who are entitled to receive notice of the meeting.

7. A Fund is also required to comply with NI 51-102 for communicating with registered holders of its securities, and to comply with NI 54-101 for communicating with beneficial owners of its securities.

Notice-and-Access Procedure – Corporate Finance Issuers

8. Section 9.1.1 of NI 51-102 permits, if certain conditions are met, a reporting issuer that is not an investment fund to use the notice-and-access procedure and send, instead of an information circular, a notice to each registered holder of its securities that contains certain specific information regarding the meeting and an explanation of the notice-and-access procedure.

9. Section 2.7.1 of NI 54-101 permits a reporting issuer that is not an investment fund to use a similar procedure to communicate with each beneficial owner of its securities.

Reasons supporting the Exemption Sought

10. A meeting of investment fund securityholders is substantively no different than a meeting of corporate finance securityholders. As a result, if the notice-and access procedure set forth in NI 51-102 and in NI 54-101 can be used by a corporate finance issuer for a meeting of its securityholders in order to send a notice-and-access document instead of an information circular, it would not be detrimental to the protection of investors to allow an investment fund to also use the Notice-and-Access Procedure to send a Notice-and-Access Document, instead of the information circular.

11. With the Exemption Sought, securityholders will maintain the same access to the same quality of disclosure material currently available. Without limiting the generality of the foregoing:

(a) all securityholders of record entitled to receive an information circular will receive instructions on how to access the information circular and will be able to receive a printed copy, without charge, if they so desire; and

(b) the conditions to the Exemption Sought mandate that the Notice-and-Access Document will be sent to securityholders sufficiently in advance of a meeting so that if a securityholder wishes to receive a printed copy of the information circular, there will be sufficient time for the Filer, directly or through the Filer’s agent, to send the information circular.

February 22, 2018 (2018), 41 OSCB 1469

Decisions, Orders and Rulings

12. With the Notice-and-Access Procedure, no securityholder will be deprived of their ability to access the information circular in his/her preferred manner of communication.

13. In accordance with the Filer’s standard of care owed to the relevant Fund pursuant to applicable legislation, the Filer will only use the Notice-and-Access Procedure for a particular meeting where it has concluded it is appropriate and consistent with the purposes of notice-and-access (as described in the Companion Policy to NI 54-101) to do so, also taking into account the purpose of the meeting and whether the Fund(s) would obtain a better participation rate by sending the information circular with the other proxy-related materials.

14. There are significant costs involved in the printing and delivery of the proxy-related materials, including information circulars, to securityholders in the Funds and in certain cases, the Filer.

Decision

The principal regulator is satisfied that the decision meets the test set out in the Legislation for the principal regulator to make the decision.

The decision of the principal regulator under the Legislation is that the Exemption Sought is granted provided that, in respect of each Fund or the Filer soliciting proxies by or on behalf of management of a Fund:

1. The registered holders or beneficial owners, as applicable, of securities of the Fund are sent a document that contains the following information and no other information (the Notice-and-Access Document):

(a) the date, time and location of the meeting for which the proxy-related materials are being sent;

(b) a description of each matter or group of related matters identified in the form of proxy to be voted on unless that information is already included in a Form 54-101F6 Request for Voting Instructions Made by Reporting Issuer (Form 54-101F6) or Form 54-101F7 Request for Voting Instructions Made by Intermediary (Form 54- 101F7) as applicable, that is being sent to the beneficial owner of securities of the Fund under condition (2)(c) of this decision;

(d) a reminder to review the information circular before voting;

(e) an explanation of how to obtain a paper copy of the information circular and, if applicable, the financial statements of the Fund;

(f) a plain-language explanation of the Notice-and-Access Procedure that includes the following information:

(i) the estimated date and time by which a request for a paper copy of the information circular and, if applicable, the financial statements of the Fund, is to be received in order for the registered holder or beneficial owner, as applicable, to receive the paper copy in advance of any deadline for the submission of voting instructions for the meeting;

(ii) an explanation of how the registered holders or the beneficial owners, as applicable, of securities of the Fund are to return voting instructions, including any deadline for return of those instructions;

(iii) the sections of the information circular where disclosure regarding each matter or group of related matters identified in the Notice-and-Access Document can be found; and

(iv) a toll-free telephone number the registered holders or the beneficial owners, as applicable, of securities of the Fund can call to get information about the Notice-and-Access Procedure.

2. The Filer, on behalf of the Fund, sends the Notice-and-Access Document in compliance with the following procedure (the Notice-and-Access Procedure), in addition to any and all other applicable requirements:

(a) the proxy-related materials are sent a minimum of 30 days before a meeting and a maximum of 50 days before a meeting;

(b) if the Fund sends proxy-related materials:

February 22, 2018 (2018), 41 OSCB 1470

Decisions, Orders and Rulings

(i) directly to a Non Objecting Beneficial Owner using the Notice-and-Access Procedure, then the Fund must send the Notice-and-Access Document and, if applicable, any paper copies of information circulars and the financial statements, at least 30 days before the date of the meeting; and

(ii) indirectly to a beneficial owner using the Notice-and-Access Procedure, then the Fund must send the Notice-and-Access Document and, if applicable, any paper copies of information circulars and the financial statements to the proximate intermediary (A) at least 3 business days before the 30th day before the date of the meeting, in the case of proxy-related materials that are to be sent on by the proximate intermediary by first class mail, courier or the equivalent, or (B) at least 4 business days before the 30th day before the date of the meeting, in the case of proxy-related materials that are to be sent using any other type of prepaid mail;

(c) using the procedures referred to in section 2.9 or 2.12 of NI 54-101, as applicable, the beneficial owner of securities of the Fund is sent, by prepaid mail, courier or the equivalent, the Notice-and-Access Document and a Form 54-101F6 or Form 54-101F7, as applicable;

(d) the Filer, on behalf of the Fund, files on SEDAR the notification of meeting and record dates on the same date that it sends the notification of meeting date and record date pursuant to subsection 2.2(1) of NI 54-101 (as such time may be abridged);

(e) public electronic access to the information circular and the Notice-and-Access Document is provided on or before the date that the Notice-and-Access Document is sent to registered holders or to beneficial owners, as applicable, of securities of the Fund in the following manner:

(i) the information circular and the Notice-and-Access Document are filed on SEDAR; and

(ii) the information circular and the Notice-and-Access Document are posted until the date that is one year from the date that the documents are posted, on a website of the Filer or the Fund;

(f) a toll-free telephone number is provided for use by the registered holders or beneficial owners, as applicable, of securities of the Fund to request a paper copy of the information circular and, if applicable, the financial statements of the Fund, at any time from the date that the Notice-and-Access Document is sent to the registered holders or the beneficial owners, as applicable, up to and including the date of the meeting, including any adjournment or postponement;

(g) if a request for a paper copy of the information circular and, if applicable, the financial statements of the Fund, is received at the toll-free telephone number provided in the Notice-and-Access Document or by any other means, a paper copy of any such document requested is sent free of charge to the registered holder or beneficial owner, as applicable, at the address specified in the request in the following manner:

(i) in the case of a request received prior to the date of the meeting, within 3 business days after receiving the request, by first class mail, courier or the equivalent; and

(ii) in the case of a request received on or after the date of the meeting, and within one year of the date the information circular is filed on SEDAR, within 10 calendar days after receiving the request, by prepaid mail, courier or the equivalent;

(h) a Notice-and-Access Document is only accompanied by:

(i) a form of proxy;

(ii) if applicable, the financial statements of the Fund to be presented at the meeting; and

(iii) if the meeting is to approve a reorganization of the Fund with another investment fund, as contemplated by paragraph 5.1(1)(f) of National Instrument 81-102 Investment Funds, the Fund Facts document, ETF summary document or ETF Facts, as applicable, for the continuing investment fund;

(i) a Notice-and-Access Document may only be combined in a single document with a form of proxy;

(j) if the Filer, directly or through the Filer’s agent, receives a request for a copy of the information circular and if applicable, the financial statements of the Fund, using the toll-free telephone number referred to in the Notice- and-Access Document or by any other means, it must not do any of the following:

February 22, 2018 (2018), 41 OSCB 1471

Decisions, Orders and Rulings

(i) ask for any information about the registered holder or beneficial owner, other than the name and address to which the information circular and, if applicable, the financial statements of the Fund are to be sent; and

(ii) disclose or use the name or address of the registered holder or beneficial owner for any purpose other than sending the information circular and, if applicable, the financial statements of the Fund;

(k) the Filer, directly or through the Filer’s agent, must not collect information that can be used to identify a person or company who has accessed the website address to which it posts the proxy-related materials pursuant to condition (2)(e)(ii) of this decision.

(l) in addition to the proxy-related materials posted on a website in the manner referred to in condition (2)(e)(ii) of this decision, the Filer must also post on the website the following documents:

(i) any disclosure document regarding the meeting that the Filer, on behalf of the Fund, has sent to registered holders or beneficial owners of securities of the Fund; and

(ii) any written communications the Filer, on behalf of the Fund, has made available to the public regarding each matter or group of matters to be voted on at the meeting, whether or not they were sent to registered holders or beneficial owners of securities of the Fund;

(m) materials that are posted on a website pursuant to condition (2)(e)(ii) of this decision must be posted in a manner and be in a format that permit an individual with a reasonable level of computer skill and knowledge to do all of the following easily:

(i) access, read and search the documents on the website; and

(ii) download and print the documents;

(n) despite subsection 2.1(b) of NI 54-101, if the Fund relies upon this decision, it must set a record date for notice that is no fewer than 40 days before the date of the meeting;

(o) in addition to section 2.20 of NI 54-101, the Fund may only abridge the time prescribed in subsections 2.1(b), 2.2(1) or 2.5(1) of NI 54-101 if the Fund fixes the record date for notice to be at least 40 days before the date of the meeting and sends the notification of meeting and record dates at least 3 business days before the record date for notice;

(p) the notification of meeting date and record date sent pursuant to subsection 2.2(1)(b) of NI 54-101 shall specify that the Fund is sending proxy-related materials to registered holders or beneficial owners, as applicable, of securities of the Fund using the Notice-and-Access Procedure pursuant to the terms of this decision;

(q) the Filer, on behalf of the Fund, provides disclosure in the information circular to the effect that the Fund is sending proxy-related materials to registered holders or beneficial owners, as applicable, of securities of the Fund using the Notice-and-Access Procedure pursuant to the terms of this decision; and

(r) the Filer pays for delivery of the information circular and, if applicable, the financial statements of the Fund, to registered holders or to beneficial owners, as applicable, of securities of the Fund if a copy of such material is requested following receipt of the Notice-and-Access Document.

The Exemption Sought terminates on the coming into force of any legislation or regulation allowing an investment fund to use a notice-and-access procedure.

“Vera Nunes” Manager Investment Funds and Structured Products Branch Ontario Securities Commission

February 22, 2018 (2018), 41 OSCB 1472

Decisions, Orders and Rulings

2.1.4 Bristol Gate Capital Partners Inc. et al.

Headnote

National Policy 11-203 Process for Exemptive Relief Applications in Multiple Jurisdictions –relief to permit exchange-traded mutual fund prospectus to omit an underwriter’s certificate – relief from take-over bid requirements for normal course purchases of securities on the TSX –relief granted to facilitate the offering of exchange-traded mutual funds.

Applicable Legislative Provisions

Securities Act (Ontario), R.S.O. 1990, c. S.5, as am., ss. 59(1) and 147. National Instrument 62-104 Take-Over Bids and Issuer Bids, Part 2 and s. 6.1.

February 2, 2018

IN THE MATTER OF THE SECURITIES LEGISLATION OF ONTARIO (the Jurisdiction)

AND

IN THE MATTER OF THE PROCESS FOR EXEMPTIVE RELIEF APPLICATIONS IN MULTIPLE JURISDICTIONS

AND

IN THE MATTER OF BRISTOL GATE CAPITAL PARTNERS INC. (the Filer)

AND

IN THE MATTER OF BRISTOL GATE CONCENTRATED CANADIAN EQUITY ETF, BRISTOL GATE CONCENTRATED U.S. EQUITY ETF (the Proposed ETFs)

DECISION

Background

The principal regulator in the Jurisdiction has received an application from the Filer on behalf of the Proposed ETFs and any additional exchange-traded mutual funds (the Future ETFs, and, together with the Proposed ETFs, the ETFs and individually, an ETF) established in the future for which the Filer is the manager, for a decision under the securities legislation of the Jurisdiction of the principal regulator (the Legislation) that:

(a) exempts the Filer and each ETF from the requirement to include a certificate of an underwriter in an ETF’s prospectus (the Underwriter’s Certificate Requirement); and

(c) exempts a person or company purchasing Listed Securities (as defined below) in the normal course through the facilities of the TSX (as defined below) or another Marketplace (as defined below) from the Take-over Bid Requirements (as defined below)

(collectively, the Exemption Sought).

Under the Process for Exemptive Relief Applications in Multiple Jurisdictions (for a passport application):

(a) the Ontario Securities Commission is the principal regulator for this application; and

(b) the Filer has provided notice that section 4.7(1) of Multilateral Instrument 11-102 Passport System (MI 11-102) is intended to be relied upon in Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland,

February 22, 2018 (2018), 41 OSCB 1473

Decisions, Orders and Rulings

Northwest Territories, Nova Scotia, Nunavut, Prince Edward Island, Québec, Saskatchewan and Yukon (together with Ontario, the Jurisdictions).

Interpretation

Terms defined in National Instrument 14-101 Definitions and MI 11-102 have the same meaning if used in this decision, unless otherwise defined.

Affiliate Dealer means a registered dealer that is an affiliate of an Authorized Dealer or Designated Broker and that participates in the re-sale of Creation Units (as defined below) from time to time.

Authorized Dealer means a registered dealer that has entered, or intends to enter, into an agreement with the manager of an ETF authorizing the dealer to subscribe for, purchase and redeem Creation Units from one or more ETFs on a continuous basis from time to time.

Designated Broker means a registered dealer that has entered, or intends to enter, into an agreement with the manager of an ETF to perform certain duties in relation to the ETF, including the posting of a liquid two-way market for the trading of the ETF’s Listed Securities on the TSX or another Marketplace.

ETF Facts means a prescribed summary disclosure document required in respect of one or more classes or series of Listed Securities being distributed under a prospectus.

Marketplace means a “marketplace” as defined in National Instrument 21-101 Marketplace Operations that is located in Canada.

NI 81-102 means National Instrument 81-102 Investment Funds.

Other Dealer means a registered dealer that acts as authorized dealer or designated broker to exchange-traded funds that are not managed by the Filer and that has received relief under a Prospectus Delivery Decision.

Prescribed Number of Listed Securities means the number of Listed Securities of an ETF determined by the Filer from time to time for the purpose of subscription orders, exchanges, redemptions or for other purposes.

Prospectus Delivery Decision means a decision granting relief from the Prospectus Delivery Requirement to a Designated Broker, Authorized Dealer, Affiliate Dealer or Other Dealer dated August 24, 2015 and any subsequent decision granted to a Designated Broker, Authorized Dealer, Affiliate Dealer or Other Dealer that grants similar relief.

Prospectus Delivery Requirement means the requirement that a dealer, not acting as agent of the purchaser, who receives an order or subscription for a security offered in a distribution to which the prospectus requirement of the Legislation applies, send or deliver to the purchaser or its agent, unless the dealer has previously done so, the latest prospectus and any amendment either before entering into an agreement of purchase and sale resulting from the order or subscription, or not later than midnight on the second business day after entering into that agreement.

Securityholders means beneficial or registered holders of Listed Securities or Unlisted Securities (as defined below), as applicable.

Take-over Bid Requirements means the requirements of National Instrument 62-104 Take-Over Bids and Issuer Bids relating to take-over bids, including the requirement to file a report of a take-over bid and to pay the accompanying fee, in each Jurisdiction.

TSX means the Toronto Stock Exchange.

Representations

This decision is based on the following facts represented by the Filer:

The Filer

1. The Filer is a corporation incorporated under the laws of the Province of Ontario, with its head office located at 45 St. Clair Avenue West, Suite 601, Toronto, Ontario.

2. The Filer is registered as an investment fund manager in Ontario and Québec and as a portfolio manager and an exempt market dealer in Alberta, British Columbia, Manitoba, Ontario and Québec.

February 22, 2018 (2018), 41 OSCB 1474

Decisions, Orders and Rulings

3. The Filer will be the investment fund manager, trustee and portfolio manager of the Proposed ETFs. The Filer will be the investment fund manager or trustee of the Future ETFs and may be the portfolio manager of the Future ETFs.

4. The Filer is not in default of securities legislation in any of the Jurisdictions.

The ETFs

5. Each Proposed ETF will be a mutual fund structured as a trust that is governed by the laws of the Province of Ontario. The Future ETFs will be either trusts or corporations or classes thereof governed by the laws of a Jurisdiction. Each ETF will be a reporting issuer in the Jurisdiction(s) in which its securities are distributed.

6. Subject to any exemptions that have been, or may be, granted by the applicable securities regulatory authorities, each ETF will be an open-ended mutual fund subject to NI 81-102 and Securityholders of each ETF will have the right to vote at a meeting of Securityholders in respect of matters prescribed by NI 81-102.

7. Each ETF may issue more than one series of securities, including, but not limited to:

(a) a series of securities distributed pursuant to a long form prospectus prepared pursuant to National Instrument 41-101 General Prospectus Requirements (NI 41-101) and Form 41-101F2 Information Required in an Investment Fund Prospectus that is listed on the TSX or another Marketplace (Listed Securities); and

(b) a series of securities offered only on a private placement basis pursuant to available prospectus exemptions, including the accredited investor exemption, under securities laws (Unlisted Securities).

8. The Listed Securities will be listed on the TSX or another Marketplace.

9. The Filer has filed, or will file, a long form prospectus prepared in accordance with NI 41-101 in respect of the Listed Securities of the ETFs, subject to any exemptions that may be granted by the applicable securities regulatory authorities.

10. Listed Securities will be distributed on a continuous basis in one or more of the Jurisdictions under a prospectus. Listed Securities may generally only be subscribed for or purchased directly from the ETFs (Creation Units) by Authorized Dealers or Designated Brokers. Generally, subscriptions or purchases may only be placed for a Prescribed Number of Listed Securities (or a multiple thereof) on any day when there is a trading session on the TSX or other Marketplace. Authorized Dealers or Designated Brokers subscribe for Creation Units for the purpose of facilitating investor purchases of Listed Securities on the TSX or another Marketplace.

11. In addition to subscribing for and re-selling Creation Units, Authorized Dealers, Designated Brokers and Affiliate Dealers will also generally be engaged in purchasing and selling Listed Securities of the same class or series as the Creation Units in the secondary market. Other Dealers may also be engaged in purchasing and selling Listed Securities of the same class or series as the Creation Units in the secondary market despite not being an Authorized Dealer, Designated Broker or Affiliate Dealer.

12. Each ETF will appoint, at any given time, a Designated Broker to perform certain other functions, which include standing in the market with a bid and ask price for Listed Securities for the purpose of maintaining liquidity for the Listed Securities.

13. Except for Authorized Dealer and Designated Broker subscriptions for Creation Units, as described above, and other distributions that are exempt from the Prospectus Delivery Requirement under the Legislation, Listed Securities generally will not be able to be purchased directly from an ETF. Investors are generally expected to purchase and sell Listed Securities, directly or indirectly, through dealers executing trades through the facilities of the TSX or another Marketplace. Listed Securities may also be issued directly to Securityholders upon a reinvestment of distributions of income or capital gains.

14. Securityholders that are not Designated Brokers or Authorized Dealers that wish to dispose of their Listed Securities may generally do so by selling their Listed Securities on the TSX or other Marketplace, through a registered dealer, subject only to customary brokerage commissions. A Securityholder that holds a Prescribed Number of Listed Securities or multiple thereof may exchange such Listed Securities for Baskets of Securities and/or cash in the discretion of the Filer. Securityholders may also redeem Listed Securities for cash at a redemption price equal to 95% of the closing price of the Listed Securities on the TSX or other Marketplace on the date of redemption, subject to a maximum redemption price of the applicable net asset value per Listed Security.

February 22, 2018 (2018), 41 OSCB 1475

Decisions, Orders and Rulings

Underwriter’s Certificate Requirement

15. Authorized Dealers and Designated Brokers will not provide the same services in connection with a distribution of Creation Units as would typically be provided by an underwriter in a conventional underwriting.

16. The Filer will generally conduct its own marketing, advertising and promotion of the ETFs.

17. Authorized Dealers and Designated Brokers will not be involved in the preparation of an ETF’s prospectus, will not perform any review or any independent due diligence as to the content of an ETF’s prospectus, and will not incur any marketing costs or receive any underwriting fees or commissions from the ETFs or the Filer in connection with the distribution of Listed Securities. The Authorized Dealers and Designated Brokers generally seek to profit from their ability to create and redeem Listed Securities by engaging in arbitrage trading to capture spreads between the trading prices of Listed Securities and their underlying securities and by making markets for their clients to facilitate client trading in Listed Securities.

Dealer Delivery

18. Securities regulatory authorities have advised that they take the view that the first re-sale of a Creation Unit on the TSX or another Marketplace will generally constitute a distribution of Creation Units under the Legislation and that the Authorized Dealers, Designated Brokers and Affiliate Dealers are subject to the Prospectus Delivery Requirement in connection with such re-sales. Re-sales of Listed Securities in the secondary market that are not Creation Units would not ordinarily constitute a distribution of such Listed Securities.

19. According to Authorized Dealers and Designated Brokers, Creation Units will generally be commingled with other Listed Securities purchased by the Authorized Dealers, Designated Brokers and Affiliate Dealers in the secondary market. As such, it is not practicable for the Authorized Dealers, Designated Brokers or Affiliate Dealers to determine whether a particular re-sale of Listed Securities involves Creation Units or Listed Securities purchased in the secondary market.

20. Under the applicable Prospectus Delivery Decision, Authorized Dealers, Designated Brokers and Affiliate Dealers are exempt from the Prospectus Delivery Requirement in connection with the re-sale of Creation Units to investors on the TSX or another Marketplace. Under a Prospectus Delivery Decision, Other Dealers are also exempt from the Prospectus Delivery Requirement in connection with the re-sale of creation units of other exchange-traded funds that are not managed by the Filer.

21. Each Prospectus Delivery Decision includes a condition that the Authorized Dealer, Designated Broker, Affiliate Dealer or Other Dealer undertakes that it will, unless it has previously done so, send or deliver to each purchaser of a Listed Security who is a customer of the Authorized Dealer, Designated Broker, Affiliate Dealer or Other Dealer and to whom a trade confirmation is required under the Legislation to be sent or delivered by the Authorized Dealer, Designated Broker, Affiliate Dealer or Other Dealer in connection with the purchase, the latest ETF Facts filed in respect of the Listed Security not later than midnight on the second day, exclusive of Saturdays, Sundays and holidays, after the purchase of the Listed Security.

22. The Filer will prepare and file with the applicable Jurisdictions on the System for Electronic Document Analysis and Retrieval (SEDAR) an ETF Facts for each class or series of Listed Securities and will make available to the applicable Authorized Dealers, Designated Brokers, Affiliate Dealers and Other Dealers the requisite number of copies of the ETF Facts for the purpose of facilitating their compliance with the Prospectus Delivery Decision within the timeframe necessary to allow Authorized Dealers, Designated Brokers, Affiliate Dealers and Other Dealers to effect delivery of the ETF Facts as contemplated in the Prospectus Delivery Decision.

Take-over Bid Requirements

23. As equity securities that will trade on the TSX or another Marketplace, it is possible for a person or company to acquire such number of Listed Securities so as to trigger the application of the Take-over Bid Requirements. However:

(a) it will not be possible for one or more Securityholders to exercise control or direction over an ETF, as the constating documents of each ETF will provide that only the Filer may call a meeting of the Securityholders;

(b) it will be difficult for the purchasers of Listed Securities to monitor compliance with the Take-over Bid Requirements because the number of outstanding Listed Securities will always be in flux as a result of the ongoing issuance and redemption of Listed Securities by each ETF; and

February 22, 2018 (2018), 41 OSCB 1476

Decisions, Orders and Rulings

(c) the way in which the Listed Securities will be priced deters anyone from either seeking to acquire control, or offering to pay a control premium for outstanding Listed Securities because pricing for each Listed Security will generally reflect the net asset value of the Listed Securities.

24. The application of the Take-over Bid Requirements to the ETFs would have an adverse impact on the liquidity of the Listed Securities because they could cause the Designated Brokers and other large Securityholders to cease trading Listed Securities once the Securityholder has reached the prescribed threshold at which the Take-over Bid Requirements would apply. This, in turn, could serve to provide conventional mutual funds with a competitive advantage over the ETFs.

Decision

The principal regulator is satisfied that the decision meets the test set out in the Legislation for the principal regulator to make the decision.

1. The decision of the principal regulator is that the Exemption Sought from the Underwriter’s Certificate Requirement is granted, provided that the Filer will be in compliance with the following conditions:

(a) the Filer provides or makes available to each Authorized Dealer, Designated Broker, Affiliate Dealer or Other Dealer, the number of copies of the ETF Facts of each Listed Security that the Authorized Dealer, Designated Broker, Affiliate Dealer or Other Dealer reasonably requests in support of compliance with its respective Prospectus Delivery Decision;

(b) each ETF’s prospectus, as the same may be amended from time to time, will disclose the relief granted pursuant to the Exemption Sought under Item 34.1 of Form 41-101F2 – Information Required in an Investment Fund Prospectus, as applicable;

(c) the Filer obtains an executed acknowledgement from each Authorized Dealer, Designated Broker and Affiliate Dealer, and uses its best efforts to obtain an acknowledgment from each Other Dealer:

(i) indicating each dealer’s election, in connection with the re-sale of Creation Units on the TSX or another Marketplace, to send or deliver the ETF Facts in accordance with a Prospectus Delivery Decision or, alternatively, to comply with the Prospectus Delivery Requirement; and

(ii) if the Authorized Dealer, Designated Broker, Affiliate Dealer or Other Dealer agrees to deliver the ETF Facts in accordance with a Prospectus Delivery Decision:

(1) an undertaking that the Authorized Dealer, Designated Broker, Affiliate Dealer or Other Dealer will attach or bind one ETF’s ETF Facts with another ETF’s ETF Facts only if the documents are being sent or delivered under the Prospectus Delivery Decision at the same time to an investor purchasing Listed Securities of each such ETF; and

(2) confirming that the Authorized Dealer, Designated Broker, Affiliate Dealer or Other Dealer has in place written policies and procedures to ensure that it is in compliance with the conditions of the Prospectus Delivery Decision;

(d) the Filer will keep records of which Authorized Dealers, Designated Brokers, Affiliate Dealers and Other Dealers have provided it with an acknowledgement under a Prospectus Delivery Decision, and which intend to rely on and comply with the Prospectus Delivery Decision or intend to comply with the Prospectus Delivery Requirement;

(e) the Filer files with its principal regulator, to the attention of the Director, Investment Funds and Structured Products Branch, on or before January 31st in each calendar year, a certificate signed by its ultimate designated person certifying that, to the best of the knowledge of such person, after making due inquiry, the Filer has complied with the terms and conditions of this decision during the previous calendar year; and

(f) conditions (a), (b), (c), (d) and (e) above do not apply to the Exemption Sought after any new legislation or rule dealing with the Prospectus Delivery Decision takes effect and any applicable transition period has expired.

2. The decision of the principal regulator is that the Exemption Sought from the Take-over Bid Requirements is granted.

February 22, 2018 (2018), 41 OSCB 1477

Decisions, Orders and Rulings

As to the Exemption Sought from the Underwriter’s Certificate Requirement:

“Mark Sandler” Commissioner Ontario Securities Commission

“Frances Kordyback” Commissioner Ontario Securities Commission

As to the Exemption Sought from the Take-over Bid Requirements:

“Darren McKall” Manager, Investment Funds and Structured Products Branch Ontario Securities Commission

February 22, 2018 (2018), 41 OSCB 1478

Decisions, Orders and Rulings

2.2 Orders Representations

2.2.1 Dominion Citrus Limited This order is based on the following facts represented by the Filer: Headnote 1. the Filer is not an OTC reporting issuer under National Policy 11-206 Process for Cease to be a Multilateral Instrument 51-105 Issuers Quoted in Reporting Issuer Applications – The issuer ceases to be a the U.S. Over-the-Counter Markets; reporting issuer under securities legislation. 2. the outstanding securities of the Filer, including Applicable Legislative Provisions debt securities, are beneficially owned, directly or indirectly, by fewer than 15 securityholders in Securities Act, R.S.O. 1990, c. S.5, as am., s. 1(10)(a)(ii). each of the jurisdictions of Canada and fewer than 51 securityholders in total worldwide; February 13, 2018 3. no securities of the Filer, including debt securities, IN THE MATTER OF are traded in Canada or another country on a THE SECURITIES LEGISLATION OF marketplace as defined in National Instrument 21- ONTARIO 101 Marketplace Operation or any other facility for (the Jurisdiction) bringing together buyers and sellers of securities where trading data is publicly reported; AND 4. the Filer is applying for an order that the Filer has IN THE MATTER OF ceased to be a reporting issuer in all of the THE PROCESS FOR CEASE TO BE jurisdictions of Canada in which it is a reporting A REPORTING ISSUER APPLICATIONS issuer; and

AND 5. the Filer is not in default of securities legislation in any jurisdiction. IN THE MATTER OF DOMINION CITRUS LIMITED Order (the Filer) The principal regulator is satisfied that the order meets the ORDER test set out in the Legislation for the Principal Regulator to make the order. Background The decision of the principal regulator under the Legislation The principal regulator in the Jurisdiction has received an that the Order Sought is granted. application from the Filer for an order under the securities legislation of the Jurisdiction of the principal regulator (the “Michael Balter” Legislation) that the Filer has ceased to be a reporting Manager, Corporate Finance issuer in all jurisdictions in Canada in which it is a reporting Ontario Securities Commission issuer (the Order Sought).

Under the Process for Cease to be a Reporting Issuer Applications (for a passport application):

a) the Ontario Securities Commission is the principal regulator for this application, and

b) the Filer has provided notice that subsection 4C.5(1) of Multilateral Instrument 11-102 Passport System (MI 11-102) is intended to be relied upon in Newfound- land and Labrador, Nova Scotia, Quebec and Saskatchewan.

Interpretation

Terms defined in National Instrument 14-101 – Definitions and MI 11-102 have the same meaning if used in this order, unless otherwise defined.

February 22, 2018 (2018), 41 OSCB 1479

Decisions, Orders and Rulings

2.2.2 West Fraser Timber Co. Ltd. and The Bank of Nova Scotia – s. 6.1 of NI 62-104 Take-Over Bids and Issuer Bids

Headnote

Section 6.1 of NI 62-104 – Issuer bid – relief from the requirements applicable to issuer bids in Part 2 of NI 62-104 – issuer proposes to purchase, pursuant to a repurchase program and at a discounted purchase price, up to a specified number of its common shares under its normal course issuer bid from a third party – the third party will abide by the requirements governing normal course issuer bids as though it was the issuer, subject to certain modifications, including that the third party will not make any purchases under the program pursuant to a pre-arranged trade – common shares delivered to the issuer for cancellation will be common shares from the third party's existing inventory – due to the discounted purchase price, the common shares cannot be acquired through the TSX trading system – but for the fact that the common shares cannot be acquired through the TSX trading system, the Issuer could otherwise acquire such shares in accordance with TSX rules and in reliance upon the issuer bid exemption available under section 4.8 of NI 62-104 – the third party will purchase common shares under the program on the same basis as if the issuer had conducted the bid in reliance on the normal course issuer bid exemptions set out in securities legislation – no adverse economic impact on, or prejudice to the issuer or its security holders – acquisition of securities exempt from the requirements applicable to issuer bids in Part 2 of NI 62-104, subject to conditions, including that the number of common shares transferred by the third party from its existing inventory to the issuer for purchase under the program be equivalent to the number of common shares that the third party has purchased, or had purchased on its behalf, on Canadian markets.

Statutes Cited

National Instrument 62-104 Take-Over Bids and Issuer Bids, Part 2 and s. 6.1.

IN THE MATTER OF THE SECURITIES ACT, R.S.O. 1990, c. S.5, AS AMENDED

AND

IN THE MATTER OF WEST FRASER TIMBER CO. LTD. AND THE BANK OF NOVA SCOTIA

ORDER (Section 6.1 of National Instrument 62-104)

UPON the application (the “Application”) of West Fraser Timber Co. Ltd. (the “Issuer”) and The Bank of Nova Scotia (“BNS”, and together with the Issuer, the “Filers”) to the Ontario Securities Commission (the “Commission”) for an order pursuant to section 6.1 of National Instrument 62-104 Take-Over Bids and Issuer Bids (“NI 62-104”) exempting the Issuer from the requirements applicable to issuer bids in Part 2 of NI 62-104 (the “Issuer Bid Requirements”) in respect of the proposed purchases by the Issuer of up to 1,000,000 (the “Program Maximum”) of its common shares (the “Common Shares”) from BNS pursuant to a share repurchase program (the “Program”);

AND UPON considering the Application and the recommendation of staff of the Commission;

AND UPON the Issuer having represented to the Commission the matters set out in paragraphs 1 to 4, inclusive, 8, 10 to 18, inclusive, 20 to 27, inclusive, 31, 33, 35 to 37, inclusive, 39 and 40, as they relate to the Issuer;

AND UPON BNS and Scotia Capital Inc. (“SCI”, and together with BNS, the “Scotia Entities”) having represented to the Commission the matters set out in paragraphs 5 to 9, inclusive, 18 to 21, inclusive, 25, 27 to 32, inclusive, 34, 38, 40 and 41, as they relate to the Scotia Entities;

1. The Issuer is a corporation governed under the Business Corporations Act (British Columbia).

2. The Issuer’s registered office is located at 1055 West Georgia Street, Suite 1500, Vancouver, British Columbia, V6E 4N7 and its head office is located at 858 Beatty Street, Suite 501, Vancouver, British Columbia, V6B 1C1.

3. The Issuer is a reporting issuer in each of the provinces of Canada and in the Yukon (collectively, the “Jurisdictions”) and the Common Shares are listed for trading on the Toronto Stock Exchange (the “TSX”) under the symbol “WFT”. The Issuer is not in default of any requirement of the securities legislation of the Jurisdictions.

February 22, 2018 (2018), 41 OSCB 1480

Decisions, Orders and Rulings

4. The authorized share capital of the Issuer consists of: (a) 400,000,000 Common Shares; (b) 20,000,000 Class B common shares; and (c) 10,000,000 preferred shares issuable in series. As at February 8, 2018, the Issuer had 75,631,226 Common Shares and 2,281,478 Class B common shares issued and outstanding.

5. BNS is a Schedule I bank governed by the Bank Act (Canada). The executive office of BNS is located in the Province of Ontario.

6. SCI is registered as an investment dealer under the securities legislation of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Québec, Nova Scotia, Newfoundland and Labrador, New Brunswick, Prince Edward Island, the Yukon, the Northwest Territories and Nunavut. SCI is a member of the Investment Industry Regulatory Organization of Canada (“IIROC”) and the Canadian Investor Protection Fund, a participating organization or member of the TSX, TSX Venture Exchange and Canadian Securities Exchange, and an approved participant of the Bourse de Montréal. The head office of SCI is located in Toronto, Ontario.

7. BNS does not own, directly or indirectly, more than 5% of the issued and outstanding Common Shares.

8. BNS is the beneficial owner of at least 1,000,000 Common Shares, none of which were acquired by, or on behalf of, BNS in anticipation or contemplation of resale to the Issuer (such Common Shares over which BNS has beneficial ownership, the “Inventory Shares”). All of the Inventory Shares are held by BNS in the Province of Ontario, and all purchases of Inventory Shares by the Issuer from BNS will be executed and settled in the Province of Ontario. No Common Shares were purchased by, or on behalf of, BNS on or after November 14, 2017, being the date that was 30 days prior to the date of the Application, in anticipation or contemplation of a sale of Common Shares by BNS to the Issuer.

9. BNS is at arm’s length to the Issuer and is not an “insider” of the Issuer, an “associate” of an “insider” of the Issuer, or an “associate” or “affiliate” of the Issuer, as such terms are defined in the Securities Act (Ontario) (the “Act”). BNS is an “accredited investor” within the meaning of National Instrument 45-106 Prospectus Exemptions.

10. Pursuant to a Notice of Intention to Make a Normal Course Issuer Bid (the “Original Notice”) which was accepted by the TSX effective September 12, 2017, the Issuer is permitted to make a normal course issuer bid (the “NCIB”) to purchase for cancellation, during the 12-month period beginning on September 19, 2017 and ending on September 18, 2018, up to 3,794,375 Common Shares, representing approximately 5% of the issued and outstanding Common Shares as of the date specified in the Original Notice. The Original Notice specifies that purchases under the NCIB are to be conducted through the facilities of the TSX or through other Canadian marketplaces. On December 14, 2017, the TSX accepted an amendment (the “First Notice Amendment”) to the Original Notice to specify that purchases may also be made by such other means as may be permitted by the TSX in accordance with sections 628 to 629.3 of Part VI of the TSX Company Manual (the “TSX NCIB Rules”) or by a securities regulatory authority, including under automatic trading plans, and by private agreements or share repurchase programs under issuer bid exemption orders issued by securities regulatory authorities. On December 22, 2017, the TSX accepted a second amendment (the “Second Notice Amendment” and, together with the Original Notice and the First Notice Amendment, the “Notice”) to the Original Notice, as amended by the First Notice Amendment, to reflect the intention of the Issuer to (a) enter into an automatic share purchase plan with Raymond James Ltd. for the Blackout Period (as defined below) in effect from January 1, 2018 until February 15, 2018, inclusive (such purchase plan, the “Raymond James ASPP”, and such Blackout Period, the “Current Blackout Period”), and (b) enter into the Program.

11. The NCIB is being conducted in reliance upon the exemption from the Issuer Bid Requirements set out in subsection 4.8(2) of NI 62-104 (the “Designated Exchange Exemption”).

12. The NCIB is also being conducted in the normal course on other permitted published markets in Canada (collectively, the “Canadian Other Published Markets”) in reliance upon the exemption from the Issuer Bid Requirements set out in subsection 4.8(3) of NI 62-104 (the “Other Published Markets Exemption”, and together with the Designated Exchange Exemption, the “Exemptions”).

13. Pursuant to the TSX NCIB Rules, the Issuer has appointed Raymond James Ltd. as its designated broker in respect of the NCIB (the “Responsible Broker”).

14. The Issuer may, from time to time, appoint a non-independent purchasing agent (a “Plan Trustee”) to purchase Common Shares on the open market to fulfill requirements for the delivery of Common Shares under the Issuer’s employee share purchase plan and security-based compensation plans (the “Plan Trustee Purchases”). A Plan Trustee has not been appointed by the Issuer, no Plan Trustee will be appointed by the Issuer during the Program Term (as defined below) and no Plan Trustee Purchases will be required or made during the Program Term.

February 22, 2018 (2018), 41 OSCB 1481

Decisions, Orders and Rulings

15. The Notice provides that the Issuer may implement an automatic trading plan (“ASPP”) to permit the Issuer to make purchases under the NCIB at such times when the Issuer would not be permitted to trade in its securities, including regularly scheduled quarterly blackout periods and other internal blackout periods (each such time, a “Blackout Period”). The Issuer entered into the Raymond James ASPP on December 22, 2017, which (a) was approved by the TSX and is in compliance with rules of the TSX and applicable securities law, and (b) will terminate prior to the beginning of the Program. No ASPP (other than the Program during a Blackout Period) will be implemented or operative during the Program Term.

16. As at February 8, 2018, the Issuer had purchased a total of 119,094 Common Shares pursuant to the NCIB, none of which were purchased pursuant to issuer bid exemption orders issued by securities regulatory authorities.

17. To the best of the Issuer’s knowledge, the “public float” (calculated in accordance with the TSX NCIB Rules) for the Common Shares as at February 8, 2018 consisted of 60,146,787 Common Shares, representing approximately 79.5% of the Issuer’s issued and outstanding Common Shares as of such date. The Common Shares are “highly-liquid securities” as that term is defined in section 1.1 of OSC Rule 48-501 Trading during Distributions, Formal Bids and Share Exchange Transactions (“OSC Rule 48-501”) and section 1.1 of the Universal Market Integrity Rules (“UMIR”).

18. The Filers wish to participate in the Program during, and as part of, the NCIB to enable the Issuer to purchase from BNS, and for BNS to sell to the Issuer, that number of Common Shares equal to the Program Maximum.

19. Pursuant to the terms of the Program Agreement (as defined below), SCI will be retained by BNS to acquire Common Shares through the facilities of the TSX and on Canadian Other Published Markets (collectively with the TSX, the “Canadian Markets”) under the Program. No Common Shares will be acquired under the Program on a market that is not a Canadian Market.

20. The Program will be governed by, and conducted in accordance with, the terms and conditions of a Share Repurchase Program Agreement (the “Program Agreement”) that will be entered into among the Filers and SCI prior to the commencement of the Program, a copy of which will be delivered by the Filers to the Commission and the TSX promptly thereafter. The Program Agreement will not be entered into during the Current Blackout Period.

21. The Program will not commence until the passage of two clear trading days from the date of the dissemination to the public of the Issuer’s financial results and/or any and all “material changes” or any “material facts” (each as defined in the Act) in respect of the Issuer or the Common Shares relating to the Current Blackout Period, and will terminate on the earlier of: (a) September 18, 2018; (b) the date on which the Issuer will have purchased the Program Maximum under the Program; and (c) the date on which the Program is terminated in accordance with its terms (the “Program Term”). Neither the Issuer nor any of the Scotia Entities may unilaterally terminate the Program Agreement during the Program Term, except in the case of an event of default by a party thereunder or a change in law or announced change in law that would have adverse consequences to the transactions contemplated thereunder or to the Issuer or either of the Scotia Entities.

22. At least two clear Trading Days prior to the commencement of the Program, the Issuer will issue and file a press release that has been pre-cleared by the TSX that: (a) describes the material features of the Program, including the Program Term; (b) discloses the Issuer’s intention to participate in the Program during the NCIB; (c) states that it is the Issuer’s current intention to purchase the Program Maximum, but that the number of Common Shares purchased pursuant to the Program may be less than the Program Maximum; (d) provides an explanation as to why less than the Program Maximum may be purchased; and (e) states that, immediately following the completion of the Program, the Issuer will issue and file the Completion Press Release (as defined below) (the “Commencement Press Release”).

23. The Program Maximum will not exceed the number of Common Shares remaining that the Issuer is entitled to acquire under the NCIB, calculated as at the date of the Program Agreement.

24. The TSX has (a) been advised of the Issuer’s intention to enter into the Program, (b) been provided with drafts of the Program Agreement and the Commencement Press Release, and (c) confirmed it has no objection to the Issuer conducting the Program as part of the NCIB.

25. The Program Term may include one or more Blackout Periods. During a Blackout Period, the Program will:

(a) be an “automatic securities purchase plan” as defined in National Instrument 55-104 Insider Reporting Requirements and Exemptions (as applied, mutatis mutandis, to purchases made by an issuer) and SCI will conduct the Program in its sole discretion, in accordance with either the instructions established by the Issuer and set out in the Program Agreement, or the instructions conveyed by the Issuer to SCI in writing at a time when the Issuer is not in a Blackout Period (the “Irrevocable Instructions”); and

February 22, 2018 (2018), 41 OSCB 1482

Decisions, Orders and Rulings

(b) comply with applicable securities regulatory requirements and guidance, including, inter alia, clause 175(2) of Regulation 1015 of the Act, OSC Staff Notice 55-701 Automatic Securities Disposition Plans and Automatic Securities Purchase Plans and similar rules and regulations regarding automatic acquisitions of securities under Canadian securities laws.

26. The Issuer will not give purchase instructions in respect of the Program to SCI at any time that the Issuer is aware of Undisclosed Information (as defined below).

27. At such times during the Program Term when the Issuer is not in a Blackout Period, SCI will purchase Common Shares on the applicable Trading Day (as defined below) in accordance with instructions received by SCI from the Issuer prior to the opening of trading on such Trading Day. These instructions and the Irrevocable Instructions will be of the same nature as the instructions that the Issuer would have given to the Responsible Broker if the Issuer was conducting the NCIB in reliance on the Exemptions.

28. All Common Shares acquired for the purposes of the Program by SCI on a day during the Program Term on which Canadian Markets are open for trading (each, a “Trading Day”) must be acquired on Canadian Markets in accordance with the TSX NCIB Rules and the by-laws, rules, regulations or policies of any Canadian Markets upon which purchases are carried out (collectively, the “NCIB Rules”) that would be applicable to the Issuer in connection with the NCIB, provided that:

(a) the aggregate number of Common Shares to be acquired on Canadian Markets by SCI on each Trading Day shall not exceed the maximum daily limit that is imposed upon the NCIB pursuant to the TSX NCIB Rules, determined with reference to an average daily trading volume that is based on the trading volume of the Common Shares on all Canadian Markets rather than being limited to the trading volume on the TSX only (the “Modified Maximum Daily Limit”), it being understood that the aggregate number of Common Shares to be acquired on the TSX by SCI on each Trading Day will not exceed the maximum daily limit that is imposed on the NCIB pursuant to the TSX NCIB Rules; and

(b) notwithstanding the block purchase exception provided for in the TSX NCIB Rules, no purchases will be made by SCI on any Canadian Markets pursuant to a pre-arranged trade.

29. The aggregate number of Common Shares that will be acquired by SCI in connection with the Program:

(a) shall not exceed the Program Maximum; and

(b) on Canadian Other Published Markets, shall not exceed that number of Common Shares remaining eligible for purchase by the Issuer pursuant to the Other Published Markets Exemption, calculated as at the date of the Program Agreement.

30. On every Trading Day, SCI will purchase the Number of Common Shares. The “Number of Common Shares” will be no greater than the least of:

(a) the maximum number of Common Shares that can be purchased: (i) as established in the instructions received by SCI from the Issuer prior to the opening of trading on such day at such times when the Issuer is not in a Blackout Period; or (ii) pursuant to the Irrevocable Instructions at such times when the Issuer is in a Blackout Period;

(b) the Program Maximum less the aggregate number of Common Shares previously purchased by SCI under the Program;

(c) on a Trading Day where trading ceases on the TSX or some other event that would impair SCI’s ability to acquire Common Shares on Canadian Markets occurs (a “Market Disruption Event”), the number of Common Shares acquired by SCI on such Trading Day up until the time of the Market Disruption Event; and

(d) the Modified Maximum Daily Limit.

31. BNS will deliver to the Issuer that number of Inventory Shares equal to the Number of Common Shares purchased by SCI on a Trading Day under the Program on the Trading Day immediately thereafter (or such other Trading Day as agreed to between the parties to the Program Agreement), and the Issuer will pay BNS a purchase price equal to the Discounted Price for each such Inventory Share on such date. Each Inventory Share purchased by the Issuer under the Program will be cancelled by the Issuer upon delivery to the Issuer or its transfer agent.

February 22, 2018 (2018), 41 OSCB 1483

Decisions, Orders and Rulings

The “Discounted Price” per Common Share will be equal to (a) the volume weighted average price of the Common Shares on the Canadian Markets on the Trading Day on which purchases were made less an agreed upon discount, or (b) upon the occurrence of a Market Disruption Event, the volume weighted average price of the Common Shares on the Canadian Markets at the time of the Market Disruption Event less an agreed upon discount.

32. BNS will not sell any Inventory Shares to the Issuer unless SCI has purchased the equivalent Number of Common Shares on Canadian Markets under the Program. The number of Common Shares that are purchased by SCI on Canadian Markets under the Program on a Trading Day will be equal to the Number of Common Shares for such Trading Day. SCI will provide the Issuer with a daily written report of SCI’s purchases under the Program, which report will indicate, inter alia, the aggregate number of Common Shares acquired, the Canadian Market on which such Common Shares were acquired, and the Modified Maximum Daily Limit.

33. During the Program Term, the Issuer will: (a) not purchase, directly or indirectly, any Common Shares (other than Inventory Shares purchased under the Program); (b) prohibit the Responsible Broker from acquiring any Common Shares on its behalf; (c) not appoint a Plan Trustee or make any Plan Trustee Purchases; and (d) not implement an ASPP (other than the Program during a Blackout Period).

34. All purchases of Common Shares under the Program will be made by SCI and neither of the Scotia Entities will engage in any hedging activity in connection with the conduct of the Program.

35. The Issuer will report its purchases of Common Shares under the Program to the TSX in accordance with the TSX NCIB Rules. In addition, immediately following the completion of the Program, the Issuer will: (a) report the total number of Common Shares acquired under the Program to the TSX and the Commission; and (b) issue and file a press release that announces the completion of the Program and sets out the number of Common Shares acquired under the Program and the aggregate dollar amount paid for such Common Shares (the “Completion Press Release”).

36. The Issuer is of the view that: (a) it will be able to purchase Common Shares from BNS at a lower price than the price at which it would be able to purchase an equivalent quantity of Common Shares under the NCIB in reliance on the Exemptions; and (b) the purchase of Common Shares pursuant to the Program is in the best interests of the Issuer and constitutes a desirable use of the Issuer’s funds.

37. The entering into of the Program Agreement, the purchase of Common Shares by SCI in connection with the Program, and the sale of Inventory Shares by BNS to the Issuer will not adversely affect the Issuer or the rights of any of the Issuer’s security holders and will not materially affect control of the Issuer.

38. The sale of Inventory Shares to the Issuer by BNS will not be a “distribution” (as defined in the Act).

39. The Issuer will be able to acquire the Inventory Shares from BNS without the Issuer being subject to the dealer registration requirements of the Act.

40. At the time that the Issuer and the Scotia Entities enter into the Program Agreement, neither the Issuer, nor any member of the Global Equity Derivatives group of BNS, nor any personnel of either of the Scotia Entities that negotiated the Program Agreement or made, participated in the making of, or provided advice in connection with, the decision to enter into the Program Agreement and sell the Common Shares, will be aware of any “material change” or “material fact” (each as defined in the Act) with respect to the Issuer or the Common Shares that has not been generally disclosed (the “Undisclosed Information”).

41. Each of the Scotia Entities:

(a) has policies and procedures in place to ensure that the Program will be conducted in accordance with, among other things, the Program Agreement and this Order, and to preclude those persons responsible for administering the Program from acquiring any Undisclosed Information during the conduct of the Program; and

(b) will, prior to entering into the Program Agreement: (i) ensure that its systems are capable of adhering to, and performing in accordance with, the requirements of the Program, the Program Agreement and this Order; and (ii) provide all necessary training and take all necessary actions to ensure that the persons administering and executing the purchases under the Program are aware of, and understand the terms of, the Program Agreement and this Order.

February 22, 2018 (2018), 41 OSCB 1484

Decisions, Orders and Rulings

AND UPON the Commission being satisfied that to do so would not be prejudicial to the public interest;

IT IS ORDERED pursuant to section 6.1 of NI 62-104 that the Issuer be exempt from the Issuer Bid Requirements in respect of the purchase of Inventory Shares from BNS pursuant to the Program, provided that:

(a) at least two clear Trading Days prior to the commencement of the Program, the Issuer issues and files the Commencement Press Release;

(b) all purchases of Common Shares under the Program are made on Canadian Markets by SCI, and are:

(i) made in accordance with the NCIB Rules applicable to the NCIB, as modified by paragraph 28 of this Order;

(ii) taken into account by the Issuer when calculating the maximum annual aggregate limits that are imposed upon the NCIB in accordance with the TSX NCIB Rules, with those Common Shares purchased on Canadian Other Published Markets being taken into account by the Issuer when calculating the maximum aggregate limits that are imposed upon the Issuer in accordance with the Other Published Markets Exemption;

(iii) marked with such designation as would be required by the applicable marketplace and UMIR for trades made by an agent of the Issuer; and

(iv) monitored by the Scotia Entities on a continual basis for the purposes of ensuring compliance with the terms of this Order, the NCIB Rules, and applicable securities law;

(c) during the Program Term: (i) the Issuer does not purchase, directly or indirectly, any Common Shares (other than Inventory Shares purchased under the Program); (ii) no Common Shares are purchased on behalf of the Issuer by the Responsible Broker; (iii) no Plan Trustee is appointed and no Plan Trustee Purchases are conducted; and (iv) no ASPP (other than the Program during a Blackout Period) is implemented or operative;

(d) the number of Inventory Shares transferred by BNS to the Issuer for purchase under the Program in respect of a particular Trading Day is equal to the number of Common Shares purchased by SCI on Canadian Markets under the Program in respect of the Trading Day;

(e) no hedging activity is engaged in by the Scotia Entities in connection with the conduct of the Program;

(f) at the time that the Program Agreement is entered into by the Filers and SCI:

(i) the Common Shares are “highly liquid securities”, as that term is defined in section 1.1 of OSC Rule 48-501 and section 1.1 of UMIR; and

(ii) none of the Issuer, any member of the Global Equity Derivatives group of BNS, or any personnel of either of the Scotia Entities that negotiated the Program Agreement or made, participated in the making of, or provided advice in connection with, the decision to enter into the Program Agreement and sell the Common Shares, was aware of any Undisclosed Information;

(g) no purchase instructions in respect of the Program are given by the Issuer to SCI at any time that the Issuer is aware of Undisclosed Information;

(h) the Scotia Entities maintain records of all purchases of Common Shares that are made by SCI pursuant to the Program, which will be available to the Commission and IIROC upon request; and

(i) In addition to reporting its purchases of Common Shares under the Program to the TSX in accordance with the TSX NCIB Rules, immediately following the completion of the Program, the Issuer will: (i) report the total number of Common Shares acquired under the Program to the TSX and the Commission; and (ii) issue and file the Completion Press Release.

DATED at Toronto, Ontario this 14th day of February, 2018.

“Naizam Kanji” Director, Office of Mergers & Acquisitions Ontario Securities Commission

February 22, 2018 (2018), 41 OSCB 1485

Decisions, Orders and Rulings

2.2.3 Benedict Cheng et al.

FILE NO.: 2017-13

IN THE MATTER OF BENEDICT CHENG, FRANK SOAVE, JOHN DAVID ROTHSTEIN AND ERIC TREMBLAY

Philip Anisman, Commissioner and Chair of the Panel Deborah Leckman, Commissioner Robert P. Hutchison, Commissioner

February 14, 2018

ORDER

WHEREAS counsel for each of Benedict Cheng, Frank Soave, Eric Tremblay, and Staff of the Commission have confirmed their availability to attend a final interlocutory attendance on March 15, 2018 at 2:00 p.m.;

IT IS ORDERED THAT the final interlocutory attendance is scheduled for March 15, 2018 at 2:00 p.m.

“Philip Anisman”

“Deborah Leckman”

“Robert P. Hutchison”

February 22, 2018 (2018), 41 OSCB 1486

Decisions, Orders and Rulings

2.2.4 Canadian Pacific Railway Limited and National Bank of Canada – s. 6.1 of NI 62-104 Take-Over Bids and Issuer Bids

Headnote

Applicable Legislative Provisions

National Instrument 62-104 Take-Over Bids and Issuer Bids, Part 2 and s. 6.1.

IN THE MATTER OF THE SECURITIES ACT, R.S.O. 1990, c. S.5, AS AMENDED

AND

IN THE MATTER OF CANADIAN PACIFIC RAILWAY LIMITED AND NATIONAL BANK OF CANADA

ORDER (Section 6.1 of National Instrument 62-104)

UPON the application (the Application) of Canadian Pacific Railway Limited (the Issuer) and National Bank of Canada (NBC, and together with the Issuer, the Filers) to the Ontario Securities Commission (the Commission) for an order pursuant to section 6.1 of National Instrument 62-104 Take-Over Bids and Issuer Bids (NI 62-104) exempting the Issuer from the requirements applicable to issuer bids in Part 2 of NI 62-104 (the Issuer Bid Requirements) in respect of the proposed purchases by the Issuer of up to 325,000 (the Program Maximum) of its common shares (the Common Shares) from NBC pursuant to a share repurchase program (the Program);

AND UPON considering the Application and the recommendation of staff of the Commission;

AND UPON the Issuer having represented to the Commission the matters set out in paragraphs 1 to 4, inclusive, 10 to 37, inclusive, 39, and 40, as they relate to the Issuer;

AND UPON NBC and National Bank Financial Inc. (NBF, and together with NBC, the NBC Entities) having represented to the Commission the matters set out in paragraphs 5, 6, 7, 8, 9, 18 to 21, inclusive, 24, 26, 28 to 32, inclusive, 34, 38, 40, and 41, as they relate to the NBC Entities, as applicable:

1 The Issuer is a corporation governed by the Canada Business Corporations Act.

2 The registered, executive and head office of the Issuer is located at 7550 Ogden Dale Road S.E., Calgary, Alberta, T2C 4X9.

3 The Issuer is a reporting issuer in each of the provinces and territories of Canada and the Common Shares are listed for trading on the Toronto Stock Exchange (the TSX) and the New York Stock Exchange (the NYSE) under the symbol “CP”. The Issuer is not in default of any requirement of securities legislation in the jurisdictions in which it is a reporting issuer.

February 22, 2018 (2018), 41 OSCB 1487

Decisions, Orders and Rulings

4 The Issuer’s authorized share capital consists of an unlimited number of Common Shares, an unlimited number of First Preferred Shares and an unlimited number of Second Preferred Shares, of which 144,303,430 Common Shares, no First Preferred Shares, and no Second Preferred Shares were issued and outstanding as of February 8, 2018.

5 NBC is a Schedule I bank governed by the Bank Act (Canada). The head office of NBC is located in Montreal, Quebec.

6 NBF is registered as an investment dealer under the securities legislation of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nova Scotia, Newfoundland and Labrador, New Brunswick, Prince Edward Island, Yukon, the Northwest Territories and Nunavut. NBF is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund, a participating organization or member of the TSX, the TSX Venture Exchange, a dealer with the Canadian Securities Exchange, and an approved participant of the Bourse de Montreal. The head office of NBF is located in Montreal, Quebec.

7 NBC does not own, directly or indirectly, more than 5% of the issued and outstanding Common Shares.

8 NBC is the beneficial owner of at least 325,000 Common Shares, none of which were acquired by, or on behalf of, NBC in anticipation or contemplation of resale to the Issuer (such Common Shares over which NBC has beneficial ownership, the Inventory Shares). All of the Inventory Shares are held by NBC in the Province of Ontario, and all purchases of Inventory Shares by the Issuer from NBC will be executed and settled in the Province of Ontario. No Common Shares were purchased by, or on behalf of, NBC on or after December 31, 2017, being the date that was 30 days prior to the date of the Application, in anticipation or contemplation of a sale of Common Shares by NBC to the Issuer.

9 NBC is at arm’s length to the Issuer and is not an “insider” of the Issuer, an “associate” of an “insider” of the Issuer, or an “associate” or “affiliate” of the Issuer, as such terms are defined in the Securities Act (Ontario) (the Act). NBC is an “accredited investor” within the meaning of National Instrument 45-106 Prospectus Exemptions.

10 On May 10, 2017, the Issuer announced a normal course issuer bid (the NCIB) to purchase for cancellation, during the 12 month period beginning on May 15, 2017 and ending on May 14, 2018, up to 4,384,062 Common Shares, representing approximately 3% of the Issuer’s “public float” as of the date specified in the “Notice of Intention to Make a Normal Course Issuer Bid” submitted to, and accepted by, the TSX (the Initial Notice). On November 30, 2017, the TSX accepted an amendment to the Initial Notice (the Initial Notice, as amended, the Notice) to specify that purchases under the NCIB may be conducted through the facilities of the TSX, the NYSE and alternative trading systems or by such other means as may be permitted by the TSX, the NYSE or a securities regulatory authority, including under automatic purchase programs and by private agreements or share repurchase programs under issuer bid exemption orders issued by applicable securities regulatory authorities.

11 The NCIB is being conducted in reliance upon the exemption from the Issuer Bid Requirements set out in subsection 4.8(2) of NI 62-104 (the Designated Exchange Exemption).

12 The NCIB is also being conducted in the normal course on the NYSE and other permitted published markets (collectively with the NYSE, the Other Published Markets) in reliance upon the exemption from the Issuer Bid Requirements set out in subsection 4.8(3) of NI 62-104 (the Other Published Markets Exemption, and together with the Designated Exchange Exemption, the Exemptions).

13 Pursuant to the rules in respect of normal course issuer bids set out in sections 628 to 629.3 of Part VI of the TSX Company Manual (the TSX Rules), the Issuer has appointed RBC Dominion Securities Inc. as its designated broker in respect of the NCIB (the Responsible Broker).

14 On May 10, 2017, the Issuer also announced the implementation of an automatic share repurchase plan (the ASPP) to permit the Issuer to make purchases under the NCIB at such times when the Issuer would not be permitted to trade in its securities, including during regularly scheduled quarterly blackout periods and other internal blackout periods (each such time, a Blackout Period). The ASPP was approved by the TSX and is in compliance with the TSX Rules and applicable securities laws. The ASPP will not be in effect during the Program Term (as defined below).

15 To the best of the Issuer’s knowledge, the “public float” (calculated in accordance with the TSX Rules) for the Common Shares as at February 8, 2018 consisted of approximately 144.3 million Common Shares, representing approximately 100% of the Issuer’s issued and outstanding Common Shares as of such date. The Common Shares are “highly-liquid securities” as that term is defined in section 1.1 of OSC Rule 48-501 Trading During Distributions, Formal Bids and Share Exchange Transactions (OSC Rule 48-501) and section 1.1 of the Universal Market Integrity Rules (UMIR).

February 22, 2018 (2018), 41 OSCB 1488

Decisions, Orders and Rulings

16 On December 8, 2017, the Commission granted:

(a) the Issuer and NBC an order pursuant to section 6.1 of NI 62-104 exempting the Issuer from the Issuer Bid Requirements in connection with the proposed purchase by the Issuer of up to 134,000 Common Shares (the First NBC Program Maximum) from NBC pursuant to a share repurchase program (the First NBC Program); and

(b) the Issuer and Canadian Imperial Bank of Commerce (CIBC) an order pursuant to section 6.1 of NI 62-104 exempting the Issuer from the Issuer Bid Requirements in connection with the proposed purchase by the Issuer of up to 621,000 Common Shares (the CIBC Program Maximum) from CIBC pursuant to a share repurchase program (the CIBC Program).

17 The First NBC Program terminated on January 23, 2018, being the date that the Issuer had purchased the First NBC Program Maximum. The CIBC Program terminated on February 8, 2018, being the date that the Issuer had purchased the CIBC Program Maximum. As of (and including purchases made on) February 8, 2018, the Issuer has purchased 2,643,100 Common Shares under the NCIB. This includes 134,000 Common Shares purchased under the First NBC Program and 621,000 Common Shares purchased under the CIBC Program.

18 The Filers wish to participate in the Program during, and as part of, the NCIB to enable the Issuer to purchase from NBC, and for NBC to sell to the Issuer, a number of Common Shares up to the Program Maximum.

19 Pursuant to the terms of the Program Agreement (as defined below), NBF has been retained by NBC to acquire Common Shares through the facilities of the TSX and on Other Published Markets in Canada (each, a Canadian Other Published Market and collectively with the TSX, the Canadian Markets) under the Program. No Common Shares will be acquired under the Program on a market that is not a Canadian Market.

20 The Program will be governed by, and conducted in accordance with, the terms and conditions of a Share Repurchase Program Agreement (the Program Agreement) that will be entered into among the Filers and NBF prior to the commencement of the Program and a copy of which will be delivered by the Filers to the Commission promptly thereafter.

21 The Program will terminate on the earlier of the date on which the Program is terminated in accordance with its terms, May 14, 2018 and the date on which the Issuer will have purchased the Program Maximum under the Program (the Program Term). Neither the Issuer nor any of the NBC Entities may unilaterally terminate the Program Agreement during the Program Term, except in the case of an event of default by a party thereunder or a change in law or announced change in law that would have adverse consequences to the transactions contemplated thereunder or to the Issuer or either of the NBC Entities.

22 At least two clear Trading Days prior to the commencement of the Program, the Issuer will issue and file a press release (the Commencement Press Release) that has been pre-cleared by the TSX that (a) describes the material features of the Program, including the Program Term; (b) discloses the Issuer’s intention to participate in the Program during the NCIB; (c) states that it is the Issuer’s current intention to purchase the Program Maximum, but that the number of Common Shares purchased pursuant to the Program may be less than the Program Maximum; (d) provides an explanation as to why less than the Program Maximum may be purchased; and (e) states that, immediately following the completion of the Program, the Issuer will issue and file the Completion Press Release (as defined below).

23 The Program Maximum will not exceed the number of Common Shares remaining that the Issuer is entitled to acquire under the NCIB, calculated as at the date of the Program Agreement.

24 The Program Term may include a Blackout Period. During a Blackout Period, the Program will:

(a) be an “automatic securities purchase plan” as defined in National Instrument 55-104 Insider Reporting Requirements and Exemptions (as applied, mutatis mutandis, to purchases made by an issuer), and NBF will conduct the Program in its sole discretion, in accordance with the irrevocable instructions established by the Issuer, and conveyed by the Issuer to NBF, at a time when the Issuer was not in a Blackout Period (the Irrevocable Instructions); and

February 22, 2018 (2018), 41 OSCB 1489

Decisions, Orders and Rulings

25 The TSX has (a) been advised of the Issuer's intention to enter into the Program; (b) been provided with a draft of the Program Agreement; and (c) confirmed that it has no objection to the Issuer conducting the Program as part of the NCIB.

26 At such times during the Program Term when the Issuer is not in a Blackout Period, NBF will purchase Common Shares on the applicable Trading Day in accordance with instructions received by NBF from the Issuer prior to the opening of trading on such day, which instructions will be the same instructions that the Issuer would give to the Responsible Broker if the Issuer had been conducting the NCIB in the absence of the ASPP in reliance on the Exemptions.

27 The Issuer will not give purchase instructions in respect of the Program to NBF at any time that the Issuer is aware of Undisclosed Information (as defined below).

28 All Common Shares acquired for the purposes of the Program by NBF on a day during the Program Term on which Canadian Markets are open for trading (each, a Trading Day) must be acquired on Canadian Markets in accordance with the TSX Rules and any by-laws, rules, regulations or policies of the Canadian Markets upon which purchases are carried out (collectively, the NCIB Rules) that would be applicable to the Issuer in connection with the NCIB, provided that:

(a) the aggregate number of Common Shares to be acquired on Canadian Markets by NBF on each Trading Day shall not exceed the maximum daily limit that is imposed upon the NCIB pursuant to the TSX Rules, determined with reference to an average daily trading volume that is based on the trading volume of the Common Shares on all Canadian Markets rather than being limited to the trading volume on the TSX only (the Modified Maximum Daily Limit), it being understood that the aggregate number of Common Shares to be acquired on the TSX by NBF on each Trading Day will not exceed the maximum daily limit that is imposed on the NCIB pursuant to the TSX Rules; and

(b) notwithstanding the block purchase exception provided for in the TSX Rules, no purchases will be made by NBF on any Canadian Markets pursuant to a pre-arranged trade.

29 The aggregate number of Common Shares acquired by NBF in connection with the Program:

(a) shall not exceed the Program Maximum; and

30 On every Trading Day, NBF will purchase the Number of Common Shares. The Number of Common Shares will be no greater than the least of:

(a) the maximum number of Common Shares that can be purchased: (i) as established in the instructions received by NBF from the Issuer prior to the opening of trading on such day at such times when the Issuer is not in a Blackout Period; or (ii) pursuant to the Irrevocable Instructions at such times when the Issuer is in a Blackout Period;

(b) the Program Maximum less the aggregate number of Common Shares previously purchased by NBF under the Program;

(c) on a Trading Day where trading ceases on the TSX or some other event that would impair NBF’s ability to acquire Common Shares on Canadian Markets occurs (a Market Disruption Event), the number of Common Shares acquired by NBF on such Trading Day up until the time of the Market Disruption Event; and

(d) the Modified Maximum Daily Limit.

The Discounted Price per Common Share will be equal to: (a) the volume weighted average price of the Common Shares on the Canadian Markets on the Trading Day on which purchases were made less an agreed upon discount; or (b) upon the occurrence of a Market Disruption Event, the volume weighted average price of the Common Shares on the Canadian Markets at the time of the Market Disruption Event less an agreed upon discount.

31 NBC will deliver to the Issuer that number of Inventory Shares equal to the Number of Common Shares purchased by NBF on a Trading Day under the Program on the Trading Day immediately thereafter (or such other Trading Day as agreed to between the parties to the Program Agreement), and the Issuer will pay NBC a purchase price equal to the

February 22, 2018 (2018), 41 OSCB 1490

Decisions, Orders and Rulings

Discounted Price for each such Inventory Share. Each Inventory Share purchased by the Issuer under the Program will be cancelled upon delivery to the Issuer.

32 NBC will not sell any Inventory Shares to the Issuer unless NBF has purchased the equivalent number of Common Shares on Canadian Markets under the Program. The number of Common Shares that are purchased by NBF on Canadian Markets under the Program on a Trading Day will be equal to the Number of Common Shares for such Trading Day. NBF will provide the Issuer with a daily written report of NBF’s purchases, which report will indicate, inter alia, the aggregate number of Common Shares acquired under the Program, the Canadian Market on which such Common Shares were acquired, and the Modified Maximum Daily Limit.

33 During the Program Term, the Issuer will: (a) not purchase, directly or indirectly, any Common Shares (other than Inventory Shares purchased under the Program); (b) prohibit the Responsible Broker from acquiring any Common Shares on its behalf; and (c) prohibit the designated broker under the ASPP from acquiring any Common Shares on its behalf.

34 All purchases of Common Shares under the Program will be made by NBF and neither of the NBC Entities will engage in any hedging activity in connection with the conduct of the Program.

35 The Issuer will report its purchases of Common Shares under the Program to the TSX in accordance with the TSX Rules. In addition, immediately following the completion of the Program, the Issuer will: (a) report the total number of Common Shares acquired under the Program to the TSX and the Commission; and (b) issue and file a press release that announces the completion of the Program and sets out the number of Common Shares acquired under the Program and the aggregate dollar amount paid for such Common Shares (the Completion Press Release).

36 The Issuer is of the view that: (a) it will be able to purchase Common Shares from NBC at a lower price than the price at which it would be able to purchase an equivalent quantity of Common Shares under the NCIB in reliance on the Exemptions; and (b) the purchase of Common Shares pursuant to the Program is in the best interests of the Issuer and constitutes a desirable use of the Issuer’s funds.

37 The entering into of the Program Agreement, the purchase of Common Shares by NBF in connection with the Program, and the sale of Inventory Shares by NBC to the Issuer will not adversely affect the Issuer or the rights of any of the Issuer’s security holders and such actions will not materially affect control of the Issuer.

38 The sale of Inventory Shares to the Issuer by NBC will not be a “distribution” (as defined in the Act).

39 The Issuer will be able to acquire the Inventory Shares from NBC without the Issuer being subject to the dealer registration requirements of the Act.

40 At the time that the Issuer and the NBC Entities enter into the Program Agreement, neither the Issuer, nor any member of the trading products group of NBC, nor any personnel of either of the NBC Entities that negotiated the Program Agreement or made, participated in the making of, or provided advice in connection with, the decision to enter into the Program Agreement and sell the Inventory Shares, will be aware of any “material change” or “material fact” (each as defined in the Act) with respect to the Issuer or the Common Shares that has not been generally disclosed (the Undisclosed Information).

41 Each of the NBC Entities:

AND UPON the Commission being satisfied that to do so would not be prejudicial to the public interest;

IT IS ORDERED pursuant to section 6.1 of NI 62-104 that the Issuer be exempt from the Issuer Bid Requirements in respect of the purchase of Inventory Shares from NBC pursuant to the Program, provided that:

February 22, 2018 (2018), 41 OSCB 1491

Decisions, Orders and Rulings

(a) at least two clear Trading Days prior to the commencement of the Program the Issuer issues and files the Commencement Press Release;

(b) all purchases of Common Shares under the Program are made on Canadian Markets by NBF, and are:

(i) made in accordance with the NCIB Rules applicable to the NCIB, as modified by paragraph 28 hereof;

(ii) taken into account by the Issuer when calculating the maximum annual aggregate limits that are imposed upon the NCIB in accordance with the TSX Rules, with those Common Shares purchased on Canadian Other Published Markets being taken into account by the Issuer when calculating the maximum aggregate limits that are imposed upon the Issuer in accordance with the Other Published Markets Exemption;

(iii) marked with such designation as would be required by the applicable marketplace and UMIR for trades made by an agent of the Issuer; and

(iv) monitored by the NBC Entities on a continual basis for the purposes of ensuring compliance with the terms of this Order, the NCIB Rules, and applicable securities law;

(c) during the Program Term: (i) the Issuer does not purchase, directly or indirectly, any Common Shares (other than Inventory Shares purchased under the Program); (ii) no Common Shares are purchased on behalf of the Issuer by the Responsible Broker; and (iii) no Common Shares are acquired on behalf of the Issuer by the designated broker under the ASPP;

(d) the number of Inventory Shares transferred by NBC to the Issuer for purchase under the Program in respect of a particular Trading Day is equal to the number of Common Shares purchased by NBF on Canadian Markets under the Program in respect of the Trading Day;

(e) no hedging activity is engaged in by the NBC Entities in connection with the conduct of the Program;

(f) at the time that the Program Agreement is entered into by the Filers and NBF:

(i) the Common Shares are “highly liquid securities”, as that term is defined in section 1.1 of OSC Rule 48-501 and section 1.1 of UMIR; and

(ii) none of the Issuer, any member of the trading products group of NBC, or any personnel of either of the NBC Entities that negotiated the Program Agreement, or made, participated in the making of, or provided advice in connection with, the decision to enter into the Program Agreement and sell the Inventory Shares, were aware of any Undisclosed Information;

(g) no purchase instructions in respect of the Program are given by the Issuer to NBF at any time that the Issuer is aware of Undisclosed Information;

(h) the NBC Entities maintain records of all purchases of Common Shares that are made by NBF pursuant to the Program, which will be available to the Commission and IIROC upon request; and

(i) in addition to reporting its purchases of Common Shares under the Program to the TSX in accordance with the TSX Rules, immediately following the completion of the Program, the Issuer will: (i) report the total number of Common Shares acquired under the Program to the TSX and the Commission; and (ii) issue and file the Completion Press Release.

DATED at Toronto, Ontario this 14th day of February, 2018.

“Naizam Kanji” Director, Office of Mergers & Acquisitions Ontario Securities Commission

February 22, 2018 (2018), 41 OSCB 1492

Decisions, Orders and Rulings

2.2.5 Lance Sandford Cook and CBM Canada’s Best (b) shall not acquire securities; and Mortgage Corp. – ss. 127(1), 127(10) (c) shall not become or act as a registrant, IN THE MATTER OF investment fund manager or promoter. LANCE SANDFORD COOK and CBM CANADA’S BEST MORTGAGE CORP. “Philip Anisman”

Philip Anisman, Chair of the Panel

February 14, 2018

ORDER (Subsections 127(1) and (10) of the Securities Act, RSO 1990, c S.5)

WHEREAS the Ontario Securities Commission held a hearing in writing on the application of Staff of the Commission (“Staff”) for an order imposing sanctions pursuant to subsections 127(1) and 127(10) of the Securities Act, RSO 1990, c S.5 (the “Act”);

ON READING the findings of the British Columbia Securities Commission (the “BCSC”) dated April 19, 2017 and the decision of the BCSC dated August 8, 2017 (the “BCSC Order”) In the Matter of Lance Sandford Cook (“Cook”) and CBM Canada’s Best Mortgage Corp. (“CBM”) and on reading the materials filed by Staff, the respondents Cook and CBM not having appeared and not having filed any materials, although properly served;

IT IS ORDERED pursuant to paragraphs 127(1)2, 2.1, 7, 8, 8.1, 8.2 and 8.5 that:

1. Cook shall resign any position that he holds as an officer or director of an issuer or registrant;

2. until the later of August 8, 2022 and the date on which the payments ordered against Cook in paragraphs 61(c) and 61(d) of the BCSC Order have been paid, Cook:

(a) shall not trade in securities or derivatives, except for his own account through a registrant who has been given a copy of the BCSC Order and a copy of this Order;

(b) shall not acquire securities (including any derivative that is a security), except for his own account through a registrant who has been given a copy of the BCSC Order and a copy of this Order;

(d) shall not become or act as a registrant, investment fund manager or promoter;

3. until August 8, 2022, CBM:

(a) shall not trade in securities;

February 22, 2018 (2018), 41 OSCB 1493

Decisions, Orders and Rulings

2.2.6 USI Tech Limited et al. – ss. 127(1), 127(5) IT IS ORDERED pursuant to section 127 of the Act that:

IN THE MATTER OF 1. pursuant to clause 2 of subsection 127(1) of the USI TECH LIMITED, Act, all trading in any securities by USI Tech, ELEANOR PARKER AND Eleanor Parker and Casey Combden shall cease; CASEY COMBDEN 2. pursuant to clause 3 of subsection 127(1) of the TEMPORARY ORDER Act, that the exemptions contained in Ontario (Subsections 127(1) & 127(5)) securities law do not apply to USI Tech, Eleanor Parker and Casey Combden; and WHEREAS: 3. pursuant to subsection 127(6) of the Act, this 1. it appears to the Ontario Securities Commission order shall take effect immediately and shall (the “Commission”) that: expire on the 15th day after its making unless extended by order of the Commission. (a) USI Tech Limited (“USI Tech”) operates a multi-level marketing operation which is DATED at Toronto this 14th day of February, 2018. headquartered in Dubai. There is no evidence, however, to confirm where it is “Maureen Jensen” based or to identify its directing mind or management.

(b) USI Tech carries on business as www.usitech-int.com

(c) Eleanor Parker and Casey Combden appear to be promoting and soliciting Ontario residents to purchase packages of mining bitcoin offered through USI Tech.

(d) Eleanor Parker and Casey Combden may have traded securities without registration and without an exemption to the registration requirement contrary to section 25 of the Securities Act, R.S.O. 1990, c. S.5 (the “Act”);

(e) USI Tech, Eleanor Parker and Casey Combden may have distributed securities without a prospectus having been filed and receipted by the Director contrary to section 53 of the Act;

2. the Commission is of the opinion that the time required to conclude a hearing could be prejudicial to the public interest as set out in subsection 127(5) of the Act;

3. the Commission is of the opinion that it is in the public interest to make this order;

4. by Authorization Order made on August 11, 2017, pursuant to subsection 3.5(3) of the Act, the Commission authorized each of Maureen Jensen, D. Grant Vingoe, Philip Anisman, Robert P. Hutchison, Janet Leiper, Timothy Moseley and Mark J. Sandler acting alone, to exercise the powers of the Commission to make orders under section 127 of the Act;

February 22, 2018 (2018), 41 OSCB 1494

Decisions, Orders and Rulings

2.2.7 First Asset Resource Fund Inc. Representations

Headnote This order is based on the following facts represented by the Filer: National Policy 11-206 Process for Cease to be a Reporting Issuer Applications – The issuer ceased to be a 1. the Filer is not an OTC reporting issuer under reporting issuer under securities legislation. Multilateral Instrument 51-105 Issuers Quoted in the U.S. Over-the-Counter Markets; Applicable Legislative Provisions 2. the outstanding securities of the Filer, including Securities Act, R.S.O. 1990, c. S.5, as am., s. 1(10)(a)(ii). debt securities, are beneficially owned, directly or indirectly, by fewer than 15 securityholders in February 15, 2018 each of the jurisdictions of Canada and fewer than 51 securityholders in total worldwide; IN THE MATTER OF THE SECURITIES LEGISLATION OF 3. no securities of the Filer, including debt securities, ONTARIO are traded in Canada or another country on a (the Jurisdiction) marketplace as defined in National Instrument 21- 101 Marketplace Operation or any other facility for AND bringing together buyers and sellers of securities where trading data is publically reported; IN THE MATTER OF THE PROCESS FOR CEASE TO BE 4. the Filer is applying for an order that the Filer has A REPORTING ISSUER APPLICATIONS ceased to be a reporting issuer in all the jurisdictions of Canada in which it is a reporting AND issuer; and

IN THE MATTER OF 5. the Filer is not in default of securities legislation in FIRST ASSET RESOURCE FUND INC. any jurisdiction. (the Filer) Order ORDER The principal regulator is satisfied that the order meets the Background test set out in the Legislation for the principal regulator to make the order. The principal regulator in the Jurisdiction has received an application from the Filer for an order under the securities The decision of the principal regulator under the Legislation legislation of the Jurisdiction of the principal regulator (the is that the Order Sought is granted. Legislation) that the Filer has ceased to be a reporting issuer in all jurisdictions of Canada in which it is a reporting “Vera Nunes” issuer (the Order Sought). Manager Investment Funds and Structured Products Branch Under the Process for Cease to be a Reporting Issuer Ontario Securities Commission Applications (for a passport application):

(a) the Ontario Securities Commission is the principal regulator for this application, and

(b) the Filer has provided notice that subsection 4C.5(1) of Multilateral Instrument 11-102 Passport System (MI 11-102) is intended to be relied upon in British Columbia and Alberta.

Interpretation

Terms defined in National Instrument 14-101 Definitions and MI 11-102 have the same meaning if used in this order, unless otherwise defined.

February 22, 2018 (2018), 41 OSCB 1495

Decisions, Orders and Rulings

2.2.8 Dennis Wing

IN THE MATTER OF DENNIS WING

Janet Leiper, Commissioner and Chair of the Panel

February 20, 2018

ORDER

WHEREAS on February 20, 2018, the Ontario Securities Commission held a hearing at the offices of the Commission, located at 20 Queen Street West, 17th Floor, Toronto, Ontario, for the Third Attendance in this proceeding;

ON HEARING the submissions of the representative for Staff of the Commission, no one appearing for Dennis Wing, although properly served;

IT IS ORDERED THAT the hearing of the Third Attendance is adjourned until March 7, 2018 at 10:00 a.m., or such other date as may be agreed to by the parties and set by the Office of the Secretary.

“Janet Leiper”

February 22, 2018 (2018), 41 OSCB 1496

Chapter 3

Reasons: Decisions, Orders and Rulings

3.1 OSC Decisions

3.1.1 Lance Sandford Cook and CBM Canada’s Best Mortgage Corp. – ss. 127(1), 127(10)

IN THE MATTER OF LANCE SANFORD COOK and CBM CANADA’S BEST MORTGAGE CORP.

DECISION AND REASONS (Subsections 127(1) and (10) of the Securities Act, RSO 1990, c S.5)

Citation: Cook (Re), 2018 ONSEC 6 Date: 2018-02-14

Hearing: In Writing Decision: February 14, 2018 Panel: Philip Anisman Commissioner Submissions by: Keir D. Wilmut For Staff of the Commission Kai S. Olson (Student-at-law) No submission was made by or on behalf of Lance Sanford Cook or CBM Canada’s Best Mortgage Corp.

TABLE OF CONTENTS

I. INTRODUCTION

II. FACTS

III. RECIPROCAL ORDER A. Generally B. Cook C. CBM

IV. ORDER

SCHEDULE “A”

DECISION AND REASONS

I. INTRODUCTION

[1] Reciprocal orders have become a common means of overcoming the limits inherent in provincial regulation of Canada’s capital markets. In light of the fact that these markets extend beyond provincial boundaries, five provinces, including Ontario, and three territories have authorized their securities regulatory authorities to order that sanctions imposed by another Canadian securities regulatory authority on a person’s participation in the market apply in their jurisdiction, as well.1 Such sanctions apply automatically in the remaining five provinces.2

1 Securities Act, RSO 1990, c S.5, s 127(10) (the “Act”); Securities Act, RSBC 1996, c. 418, s 161(6) (the “BCSA”); Securities Act, RSNL 1990, c S-13, s 127(1.1); Securities Act, SNWT 2008, c. 10, s 60(3); Securities Act, SNu 2008, c 12, s 60(3); Securities Act, RSPEI 1988, c S-3.1, s 60(3); Securities Act, 1988, S.S.1988-89, c.S-42.2 s 134(1.1); Securities Act, SY 2007, c 16, s 60(3). 2 See Securities Act, RSA 2000, c S-4, ss 198(3)-(10); Securities Act, RSM 1988, c S50, ss 148.4(3)-(4); Securities Act, SNB 2004, c S-5.5, s 184.1; Securities Act, RSNS 1989, c 418, s 134B; Securities Act, Stats Que 1982, c 48; Cons Stats, c V-1.1, ss 308.2.1.2-308.2.1.6. This approach is more efficient and effective; at a minimum, it removes unnecessary delays when orders are made in Canada; see also Re Dhanani (2017), 40 OSCB 4457, para 11.

February 22, 2018 (2018), 41 OSCB 1497

Reasons: Decisions, Orders and Rulings

[2] Subsection 127(10) of the Act authorizes the Commission to make a reciprocal order under subsection 127(1) based on the order of another securities regulatory authority. Although such orders generally mirror the initial orders of securities regulatory authorities in Canada to the extent possible under the Act, the Commission retains a discretion to modify an order to reflect the facts found and sanctions imposed by the other regulatory authority, if it concludes that the public interest so requires.3

[3] This proceeding raises issues concerning the terms of the reciprocal orders to be made with respect to Lance Sanford Cook (“Cook”), the individual respondent, and CBM Canada’s Best Mortgage Corp. (“CBM”), a dissolved corporation that Cook controlled and directed.

II. FACTS

[4] This application is based on a decision of the British Columbia Securities Commission (“BCSC”) in which the BCSC found that Cook and CBM distributed securities without filing a prospectus, contrary to the BCSA, and imposed sanctions on them.4 The securities were promissory notes paying interest of fifteen per cent per annum, three of which were issued by Cook himself and three by CBM under his control and direction. Between 2008 and 2010, he and CBM issued, renewed and reissued six promissory notes totalling $380,000 to four investors, several of whom were retired or close to retirement.5 Although each investor received a renewed promissory note annually, the later notes represented the initial investment, which Cook persuaded the investors to roll over as the notes matured. The issuance of each note was a distribution of a security, for which a prospectus was required. Cook and CBM paid interest on these promissory notes until approximately May 2011, after which payments ceased. Ultimately, the investors lost their investments.

[5] At the relevant times, Cook was registered as a mortgage broker in British Columbia and had dealt with the investors in this capacity. In one case, he induced his client to borrow funds to make the investment with him.6 In another, he persuaded the investor to invest “equity from her home” with him rather than in the real estate property about which she initially consulted him.7 The BCSC concluded that Cook’s conduct constituted a serious risk to the capital markets.8

[6] CBM was also registered as a mortgage broker. It was incorporated under the Canada Business Corporations Act (“CBCA”) in 2000,9 was dissolved in September 2006 and revived in January 2007.10 Cook was its president, sole director and controlling mind and used it for three of the six distributions. The BCSC found that it was his alter ego, as “there was no real separation of financial affairs between Cook and CBM.”11 CBM appears to have ceased to carry on business around the time that interest on the promissory notes ended; its last annual filing was in 2011. On June 28, 2014, it was again dissolved and so remains to date.12

[7] The BCSC required Cook to disgorge $218,500, which amount was the $380,000 he and CBM obtained from the four purchasers less interest of $161,500 that he and CBM paid them, and required him to pay an administrative penalty of $25,000. It also ordered him to resign any position he held as a director or officer of an issuer or registrant and prohibited him from trading or purchasing securities or exchange contracts, except for his own account through a registrant, from acting as a director or officer of an issuer or registrant, as a registrant or promoter or in a management or consultative capacity in connection with securities market activities, and from engaging in investor relations activities. These market prohibitions remain in effect until the later of 5 years from the date of the order or the time when the monetary sanctions have been paid.13

[8] Because their misconduct was identical, the BCSC concluded that market prohibitions like those imposed on Cook should apply to CBM. It prohibited CBM from trading and purchasing securities, from acting as a promoter or in a management or consultative capacity in connection with securities market activities and from engaging in investor relations activities for 5 years.14

3 McLean v. British Columbia (Securities Commission), [2013] 3 SCR 895, para 54; Re Dhanani, para 9. 4 BCSA, s 61; Re Cook, 2017 BCSECCOM 136 (“Merits Decision”); 2017 BCSECCOM 260 (“Sanctions Decision”). 5 Re Cook, Merits Decision, paras 11-91; Sanctions Decision, para 18. 6 Merits Decision, para 12. 7 Merits Decision, para 32. 8 Sanctions Decision, para 29. 9 RSC 1985, c C-44, as amended. 10 Federal Corporation Information – 376013-8, Exhibit 1 to Affidavit of Service of Lee Crann, sworn November 2, 2017 (“First Crann Affidavit”). 11 Sanctions Decision, para 53. 12 Merits Decision, para 8; Sanctions Decision, para 31; Federal Corporation Information – 376013-8, Exhibit 1 to First Crann Affidavit. 13 Sanctions Decision, paras 61(a)-(d). 14 Sanctions Decision, paras 33 and 61(e).

February 22, 2018 (2018), 41 OSCB 1498

Reasons: Decisions, Orders and Rulings

III. RECIPROCAL ORDER

A. Generally

[9] The BCSC’s order satisfies subsection 127(10); it is an order of another securities regulatory authority imposing sanctions, conditions, restrictions and requirements on Cook and CBM. The BCSC’s order and findings warrant an order under subsection 127(1) to ensure that Cook cannot engage in similar activities with Ontario investors.15 As the respondent did not appear in this proceeding,16 there is no evidence to suggest otherwise.17 In view of the ease with which individuals may trade in securities in provinces other than their own, conduct relating to Ontario is not required for a reciprocal order.18 Indeed, one of the purposes of subsection 127(10) is to ensure that a wrongdoer cannot avoid sanctions imposed in one province simply by moving its activities to another province.19

[10] Subsection 127(10) thus enhances the deterrent effect of the Commission’s enforcement efforts. A reciprocal order will prohibit Cook from pursuing similar activities in Ontario and will also deter others who might be inclined to engage in similar conduct in Ontario and elsewhere. By removing the potential for province-hopping, the availability of national implementation of enforcement orders increases general deterrence throughout Canada.20

B. Cook

[11] For these reasons, as well as reasons of efficiency, the order reciprocating the BCSC’s order against Cook will mirror the terms of the BCSC’s order to the extent possible under the Act, but it cannot be identical because of differences between the Act and the BCSA.

[12] The BCSC order prohibits Cook from trading and purchasing securities and exchange contracts. The BCSA defines an “exchange contract” as a futures contract or an option that is traded on an exchange under standardized terms and conditions set out in the exchange’s rules at a price agreed on when the futures contract or option is entered into on the exchange and the performance of which is guaranteed by a clearing agency.21 In Ontario, such exchange contracts would be traded as commodity futures contracts or commodity futures options subject to the Commodity Futures Act, and are expressly excluded from the definitions of “security” and “derivative” in the Act.22

[13] As some futures contracts may be derivatives, the order will prohibit trading in both securities and derivatives, as requested by Staff. It will, however, prohibit only the acquisition of securities, as the Act does not authorize an order prohibiting the acquisition of derivatives, but will expressly include derivatives that are securities.23

[14] Subsection 127(1) of the Act does not refer to investor relations activities or acting in a management or consultative capacity. Many, but not all of these activities are covered by prohibitions against acting as a director or officer of an

15 It is not necessary to repeat here the general factors that are relevant to reciprocal orders; for a recent summary, see Re Global 8 Environmental Technologies Inc. (2017), 40 OSCB 7127, para 12 (“Re Global 8”); and see generally Re Dhanani, paras 5-10. 16 The Notice of Hearing, Statement of Allegations and Staff’s disclosure were served on Cook and CBM by email pursuant to the Commission’s former Rules of Procedure on October 25, 2017, see Ontario Securities Commission Rules of Procedure (2014), 37 OSCB 4168, Rule 1.5.1, and their receipt was acknowledged by Cook in a voicemail message the following day; First Crann Affidavit, paras 2-3 and 12. At a hearing on November 6, 2017, I ordered that this proceeding be conducted in writing; Re Cook, Order (2017), 40 OSCB 8977. My order was served by email on November 7, 2017 and Staff’s hearing brief, written submissions and authorities were served in the same manner on November 15, 2017 in accordance with the current rules; Affidavit of Lee Crann, sworn November 15, 2017, paras 2-4; Ontario Securities Commission Rules of Procedure and Forms (2017), 40 OSCB 8988, Rule 6 (“OSC Rules”). (The OSC Rules became effective on November 1, 2017.) In the voicemail message of October 25, 2017, Cook informed Staff that he would not appear on November 6, First Crann Affidavit, para 12, and he did not file a written submission. As a result, the hearing proceeded without his participation under the authority granted by the Statutory Powers Procedure Act, RSO 1990, c S.22, s 7(2) and the OSC Rules, Rule 21(3). 17 The BCSC’s order and findings provide the basis for a reciprocal order and have the effect of imposing an evidentiary burden on the respondent; see Re Dhanani, para 9. This does not affect the burden of proof, which remains on Staff; see Re Global 8, para 13. 18 All of Cook’s conduct occurred in British Columbia. See also Re Dhanani, paras 5-6. 19 Re Black (2014), 37 OSCB 5847, para 25, quoting Re Anderson, 2007 ABASC 912, para 16. 20 See also Re Global 8, para 43. 21 BCSA, s 1(1) “exchange contract” and “futures contract”. 22 Commodity Futures Act, RSO 1990, c C.20 (the “CFA”), s 1(1) “commodity futures contract” and “commodity futures option”; Act, s 1(1) “derivative” and “security” (p). As the CFA also authorizes reciprocal orders, Staff might consider bringing future applications relating to a BCSC order that addresses exchange contracts under both the Act and the CFA; see CFA, s 60. 23 Act, s 127(1)2; see Re McClure (2017), 40 OSCB 8135, para 6 (“Re McClure”).

February 22, 2018 (2018), 41 OSCB 1499

Reasons: Decisions, Orders and Rulings

issuer or as a registrant or promoter.24 To mirror the BCSC’s order to the extent possible under the Act, the order will contain these prohibitions and will also prohibit Cook from acting as an investment fund manager.25

[15] The market prohibitions in the BCSC’s order run for 5 years from its date or until Cook pays the disgorgement and administrative monetary sanctions, whichever is later. Staff requests that the order mirror these terms, and that the market prohibitions run until August 8, 2022, which is 5 years after the date of the BCSC’s order, or until Cook pays the BCSC the amounts owed under this order, whichever is later. The requested order would thus not be identical to the BCSC’s order, but would be coextensive in time.26

[16] Staff relies on two Commission decisions, in which such orders were made.27 In Re Global 8, a proceeding to reciprocate an order of the Alberta Securities Commission (“ASC”), one respondent, René Joseph Branconnier, argued that such an order would constitute an indirect monetary penalty and that because he had contravened Alberta, but not Ontario, securities law, the Commission lacked authority to make the order. The Commission concluded that the length of the prohibition did not impose an additional monetary penalty, as the amount owed to the ASC remained the same, and made a reciprocal order that was coextensive with the ASC’s.

[17] On November 16, 2017, the day following Staff’s written submission, the BCSC reciprocated the same ASC order, but limited the time of its order to the twenty years imposed in the ASC order. It said it agreed with Branconnier that “in the circumstances, the termination of our orders should not be tied to the payment to the ASC of its monetary orders.” 28 This difference of view and the fact that the order being reciprocated in this case was made by the BCSC require a fuller consideration of this issue.

[18] In pursuing its mandate to protect investors and foster fair and efficient capital markets, the Commission must have regard to the principle that “integration of capital markets is supported and promoted by the sound and responsible harmonization and co-ordination of securities regulation regimes.”29 Subsection 127(10) implements this principle by authorizing reciprocal orders to further “interjurisdictional cooperation and consistency in securities regulation and enforcement across the country.”30 As stated above, this type of consistency enhances deterrence by making the same prohibitions apply to the respondent in multiple jurisdictions and increases general deterrence because prohibitions that follow improper conduct may apply nationwide.31 For these reasons, it is in the public interest to reciprocate all temporal aspects of the BCSC’s order in this case.

C. CBM

[19] Staff requests that an order mirroring the BCSC’s order be made against CBM and that the market prohibitions run to August 8, 2022. The terms of the requested reciprocating order would parallel the market prohibitions against Cook, modified to reflect the fact that CBM was Cook’s corporate alter ego. The BCSC’s order, however, prohibits CBM only from trading and purchasing securities; it does not include exchange contracts.32 32 Although Staff requested an order prohibiting trading in securities and derivatives, there is no reason to so diverge from the BCSC order in this case.

[20] It is also necessary to address the fact that CBM has been dissolved. At the initial hearing on November 6, 2017, I asked whether service had been made on CBM in view of the fact that it had been dissolved, and requested Staff to address this issue in its written submissions.33

[21] Staff’s written submissions refer to three prior Commission proceedings. Only one need be discussed here. In Re Soleja, the Commission reciprocated an ASC settlement agreement, but the reasons for granting the reciprocal order did not refer to the fact that the corporate respondent had been dissolved.34 Nor did the settlement agreement that was

24 See Re McClure, paras 8-10. 25 Staff did not request an order denying Cook the exemptions under the Act, presumably because the BCSC’s order does not include this prohibition. It is necessary, therefore, to expressly prohibit him from acting as an investment fund manager, even though investment fund managers are required to register under the Act; see Re Dancho (2017), 40 OSCB 9167, paras 9 and 10. 26 This is common with reciprocal orders; see, e.g., Re Elliott (2009), 32 OSCB 6931, paras 4,13 and 42. An identical order would run for five years from the date of the Commission’s order. 27 Re Zarr (2015), 38 OSCB 9887; Re Global 8. 28 Re Branconnier, 2017 BCSECCOM 347, para 11. 29 Act, ss 1.1 and 2.1.5. 30 McLean v. British Columbia (Securities Commission), [2013] 3 SCR 895, para 77 (per Karakatsanis J.). 31 Re Global 8, para 43; Re Dhanani, para 11, n 27. 32 Sanctions Decision, para 61(e). 33 As a result, the Order of November 7, 2017 converting this proceeding to a written hearing did not mention service; see Re Cook, Order (2017), 40 OSCB 8977. 34 Re Soleja (2017), 40 OSCB 4869. This was also the case with the reasons in the two other proceedings referenced in Staff’s submissions; see Re Optam Holdings Inc. (2017), 40 OSCB 2167; Re Williams (2017), 40 OSCB 3077.

February 22, 2018 (2018), 41 OSCB 1500

Reasons: Decisions, Orders and Rulings

reciprocated or the ASC’s notice of hearing relating to it.35 The only reference to a dissolution was in the Commission order that continued the proceeding as a written hearing, which contained recitals stating that a search of Alberta’s Corporate Registration System listed the corporation’s “legal entity status as struck as of August 2, 2015, though Soleja, as the former sole director of [the corporation] … continues to represent the company” and that the respondents had been properly served.36 Thus, although prior reciprocal orders of the Commission have applied to dissolved corporations, the basis on which they did so has not been expressly addressed.

[22] In this matter, the BCSC addressed CMB’s status and, relying on a previous decision, concluded that an order should be made against CBM because of the possibility that it might be revived.37

[23] Because corporations are artificial entities, activities that affect them may occur when they do not exist. For example, corporate legislation specifies circumstances in which contracts made prior to incorporation will be binding on a corporation after it has been created.38 Similarly, a corporation that is dissolved can be revived, as CBM was in 2007,39 and upon revival the corporation will continue and will have all rights and obligations that arose between its dissolution and its revival as if it had not been dissolved.40 In addition, the CBCA provides that any legal action respecting the corporation’s affairs that is taken during the period following its dissolution is valid and effective, once it is revived.41 Thus, an order made by the Commission against CBM will apply to it in the event that it is revived.

[24] Although the market prohibitions against trading in securities and acting as a director or officer of an issuer would preclude Cook from transferring ownership of or using CBM during the prohibited period, in view of the potential for revival, reciprocating the order against CBM may serve a deterrent function with respect to others who may seek to utilize the corporate form in a manner that is unfair to investors or harmful to the capital markets.

[25] For these reasons, and in view of Cook’s control and direction of CBM, the service on Cook of all materials in this proceeding constituted service on CBM. An order reciprocating the BCSC’s order against CBM is in the public interest.

IV. ORDER

[26] I shall therefore sign an order in the form attached to these reasons as Schedule “A”.

Dated at Toronto this 14th day of February, 2018.

“Philip Anisman”

35 See Re Soleja, 2015 ABASC 988 (notice of hearing); Re Soleja, 2016 ABASC 261 (settlement agreement). 36 Re Soleja, Order (2017), 40 OSCB 955. Soleja had signed the Alberta settlement agreement on the corporations’ behalf. Presumably the information concerning the corporation’s dissolution was in a report of a corporate search included in Staff’s affidavit of service, as occurred in this proceeding with respect to CBM; see note 10, above. 37 Sanctions Decision, paras 31-33; Re Williams, 2016 BCSECCOM 283, para 75. The order in the latter decision was reciprocated by the Commission; see note 34, above. 38 See, e.g., CBCA, s 14 (pre-incorporation contracts); Business Corporations Act, RSO 1990, c B.16, s 21, as amended (“OBCA”). 39 See, e.g., CBCA, s 209. 40 See, e.g., CBCA, s 209(4); OBCA, s 241(9). 41 CBCA, s 209(5). See also OBCA, s 242(1)(b), which provides that a corporation that has been dissolved may be subject to an administrative proceeding “as if it had not been dissolved”.

February 22, 2018 (2018), 41 OSCB 1501

Reasons: Decisions, Orders and Rulings

SCHEDULE “A”

IN THE MATTER OF LANCE SANDFORD COOK and CBM CANADA’S BEST MORTGAGE CORP.

Philip Anisman, Chair of the Panel

February 14, 2018

ORDER (Subsections 127(1) and (10) of the Securities Act, RSO 1990, c S.5)

ON READING the findings of the British Columbia Securities Commission (the “BCSC”) dated April 19, 2017 and the decision of the BCSC dated August 8, 2017 (the “BCSC Order”) In the Matter of Lance Sanford Cook (“Cook”) and CBM Canada’s Best Mortgage Corp. (“CBM”) and on reading the materials filed by Staff, the respondents Cook and CBM not having appeared and not having filed any materials, although properly served;

IT IS ORDERED pursuant to paragraphs 127(1)2, 2.1, 7, 8, 8.1, 8.2 and 8.5 that:

1. Cook shall resign any position that he holds as an officer or director of an issuer or registrant;

2. until the later of August 8, 2022 and the date on which the payments ordered against Cook in paragraphs 61(c) and 61(d) of the BCSC Order have been paid, Cook:

(a) shall not trade in securities or derivatives, except for his own account through a registrant who has been given a copy of the BCSC Order and a copy of this Order;

(b) shall not acquire securities (including any derivative that is a security), except for his own account through a registrant who has been given a copy of the BCSC Order and a copy of this Order;

(d) shall not become or act as a registrant, investment fund manager or promoter;

3. until August 8, 2022, CBM:

(a) shall not trade in securities;

(b) shall not acquire securities; and

______Philip Anisman

February 22, 2018 (2018), 41 OSCB 1502

Reasons: Decisions, Orders and Rulings

3.1.2 Benedict Cheng et al.

IN THE MATTER OF BENEDICT CHENG, FRANK SOAVE, JOHN DAVID ROTHSTEIN and ERIC TREMBLAY

REASONS FOR DECISION ON MOTION REGARDING CONFIDENTIALITY

Citation: Cheng (Re), 2018 ONSEC 7 Date: 2018-02-15

Hearing: In writing Decision: February 15, 2018 Panel: Janet A. Leiper Chair of the Panel Submissions: Shara N. Roy For Benedict Cheng Brian Kolenda Yvonne Chisholm For Staff of the Ontario Securities Commission Jennifer Lynch Christina Galbraith

REASONS AND DECISION

[1] On December 18-22, 2017, the Commission heard motions on questions of solicitor client privilege, prematurity of the motion and jurisdiction. These motions were heard in advance of the hearing on the merits, which is scheduled to proceed on April 16, 2018.

[2] Mr. Cheng requested that the entire motion regarding privilege be heard in the absence of the public. After receiving written submissions and hearing oral argument on the issue, I dismissed Mr. Cheng’s request to have the public excluded for the entire motion, although at the further request of counsel, I allowed the public to be excluded for portions of the hearing, in the event that solicitor client privilege over the evidence in issue was established. The balance of the motions and the submissions on the solicitor client privilege portion of the motion were heard in public.

[3] By reasons dated January 10, 2018, the Commission dismissed Staff’s motion on the question of prematurity and jurisdiction. These reasons have been published.

[4] In separate reasons dated January 10, 2018, the Commission dismissed Mr. Cheng’s motion on solicitor client privilege (the Privilege Reasons). The Commission’s practice is to deliver reasons to parties 24 hours in advance of publication. After receiving the Privilege Reasons, Counsel for the Mr. Cheng, wrote to the Registrar to request that the Privilege Reasons be kept confidential from the public.

[5] The Commission sought and received written submission on the question of the public release of the Privilege Reasons. After considering these submissions, and authorities filed by Staff, an order was made publishing the Privilege Reasons. These are the reasons for that decision.

[6] Mr. Cheng submits that portions of the Privilege Reasons refer to the evidence over which privilege is claimed. Mr. Cheng submits that he may appeal the Commission’s decision and that publication of the Privilege Reasons would render the privilege claimed moot.

[7] Mr. Cheng submits that the same balancing that was conducted by this Panel in determining that some of the evidence in the motion was to be heard in the absence of the public should be applied to the publication of the Privilege Reasons, in order to protect his claim of privilege. Mr. Cheng relies on his counsel’s submissions that were made at the hearing, though he did provide any authorities specific to the issue of keeping a decision confidential on the basis that it may be appealed by a party.

[8] Staff submits that the open court principle has been applied by the Commission in the context of other requests for delaying publication. The Commission has recognized that part of its responsibilities as a statutory tribunal is to ensure that investors, those who are regulated and the public know what decisions are made by the Commission and the

February 22, 2018 (2018), 41 OSCB 1503

Reasons: Decisions, Orders and Rulings

reasons behind those decisions. This is a fundamental principle of justice in Canada. It is not to be departed from lightly.

[9] Staff also submits that the Privilege Reasons do not make specific reference to or disclose any alleged legal advice. Documents are referred to generically and full names of individuals (other than the Respondents) are not used. Any concerns about confidentiality were met by holding portions of the hearing dealing with specifics in the absence of the public.

[10] Mr. Cheng has not established any prejudice that would warrant departing from the open court principle. Non- publication of the ultimate reasons was not argued at the time of the hearing of the motions and the reasons dealing with similar subject matter in dismissing Staff’s motion with respect to prematurity and jurisdiction were published without objection. The Privilege Reasons themselves do not describe evidence which could fairly be considered legal advice, even in the event that a reviewing court determines that a solicitor-client relationship was established.

[11] The Respondent’s request to refrain from publishing the Privilege Reasons is dismissed.

Dated at Toronto this 15th day of February, 2018.

“Janet A. Leiper”

February 22, 2018 (2018), 41 OSCB 1504

Chapter 4

Cease Trading Orders

4.1.1 Temporary, Permanent & Rescinding Issuer Cease Trading Orders

Company Name Date of Date of Date of Date of Temporary Order Hearing Permanent Order Lapse/Revoke

THERE IS NOTHING TO REPORT THIS WEEK.

Failure to File Cease Trade Orders

Company Name Date of Order Date of Revocation

Biosenta Inc. 02 February 2018 14 February 2018

4.2.1 Temporary, Permanent & Rescinding Management Cease Trading Orders

Company Name Date of Order Date of Lapse

THERE IS NOTHING TO REPORT THIS WEEK.

4.2.2 Outstanding Management & Insider Cease Trading Orders

Company Name Date of Order or Date of Date of Date of Date of Temporary Order Hearing Permanent Order Lapse/ Expire Issuer Temporary Order

Performance Sports 19 October 2016 31 October 2016 31 October 2016 Group Ltd.

Company Name Date of Order Date of Lapse

Katanga Mining Limited 15 August 2017

February 22, 2018 (2018), 41 OSCB 1505

Cease Trading Orders

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February 22, 2018 (2018), 41 OSCB 1506

Chapter 7

Insider Reporting

The following is a weekly summary of insider transactions by insiders of Ontario reporting issuers in SEDI ® (the System for Electronic Disclosure by Insiders).1 The weekly summary contains insider transactions reported during the 7-day period ending Sunday at 11:59 p.m. (i.e. the Sunday prior to the Bulletin Issue date).2

Guide to Codes Relationship of Insider to Issuer (Rel=n)

1 Issuer 2 Subsidiary of Issuer 3 10% Security Holder of Issuer 4 Director of Issuer 5 Senior Officer of Issuer 6 Director or Senior Officer of 10% Security Holder 7 Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) 8 Deemed Insider – 6 Months before becoming Insider

Nature of Transaction (T/O)

00 Opening Balance-Initial SEDI Report 10 Acquisition or disposition in the public market 11 Acquisition or disposition carried out privately 15 Acquisition or disposition under a prospectus 16 Acquisition or disposition under a prospectus exemption 22 Acquisition or disposition pursuant to a take-over bid, merger or acquisition 30 Acquisition or disposition under a purchase/ ownership plan 35 Stock dividend 36 Conversion or exchange 37 Stock split or consolidation 38 Redemption, retraction, cancellation, repurchase 40 Short sale 45 Compensation for property 46 Compensation for services 47 Acquisition or disposition by gift 48 Acquisition by inheritance or disposition by bequest 50 Grant of options 51 Exercise of options 52 Expiration of options 53 Grant of warrants 54 Exercise of warrants 55 Expiration of warrants 56 Grant of rights 57 Exercise of rights 59 Exercise for cash 70 Acquisition or disposition (writing) of third party derivative 71 Exercise of third party derivative 72 Other settlement of third party 73 Expiration of third party derivative 90 Change in nature of ownership 97 Other 99 Correction of Information

Note: The asterisk in the “Date/Month End Holding” column indicates the insider disagreed with the system calculated balance when the transaction was reported.

1 SEDI® is a registered trademark owned by CDS INC. 2 ©CDS INC.

February 22, 2018 (2018), 41 OSCB 1507

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed 3TL Technologies Corp. Common Shares Oishi, Kim 4 15/02/2018 10 0.1594 383,143 61,000 3TL Technologies Corp. Common Shares Oishi, Kim 4 16/02/2018 10 0.175 442,143 59,000 Abattis Bioceuticals Corp. Common Shares Abenante, Robert 5 13/02/2018 46 0.2625 8,490,697 6,500,000 Abattis Bioceuticals Corp. Common Shares David, Rene 5 13/02/2018 46 0.2625 5,587,488 4,500,000 ABcann Global Corporation Common Shares Parmar, Mayank Shekhar 5 26/01/2018 00 ABcann Global Corporation Common Shares Parmar, Mayank Shekhar 5 26/01/2018 00 ABcann Global Corporation Common Shares Parmar, Mayank Shekhar 5 31/01/2018 00 1,056,338 ABcann Global Corporation Options Parmar, Mayank Shekhar 5 26/01/2018 00 ABcann Global Corporation Options Parmar, Mayank Shekhar 5 31/01/2018 00 ABE Resources Inc. Common Shares Cantore, Victor 4 15/02/2018 10 0.58 3,377,880 5,000 Absolute Software Rights Restricted Share Chronert, Todd 5 14/02/2018 00 51,657 Corporation Unit Absolute Software Rights Restricted Share Chronert, Todd 5 16/02/2018 56 64,157 12,500 Corporation Unit Absolute Software Rights Restricted Share Chronert, Todd 5 16/02/2018 56 71,657 7,500 Corporation Unit Absolute Software Common Shares Covell, Christopher Kerry 5 27/06/2016 00 Corporation Absolute Software Common Shares Covell, Christopher Kerry 5 18/01/2018 99 5.85 205 205 Corporation Absolute Software Options Covell, Christopher Kerry 5 27/06/2016 00 Corporation Absolute Software Options Covell, Christopher Kerry 5 23/08/2016 99 7.4 6,000 6,000 Corporation Absolute Software Options Covell, Christopher Kerry 5 25/08/2017 99 7.46 15,000 9,000 Corporation Absolute Software Rights Restricted Share Covell, Christopher Kerry 5 27/06/2016 00 Corporation Unit Absolute Software Rights Restricted Share Covell, Christopher Kerry 5 23/08/2016 99 14,000 14,000 Corporation Unit Absolute Software Rights Restricted Share Covell, Christopher Kerry 5 31/12/2016 99 14,179 179 Corporation Unit Absolute Software Rights Restricted Share Covell, Christopher Kerry 5 25/08/2017 99 21,179 7,000 Corporation Unit Absolute Software Rights Restricted Share Covell, Christopher Kerry 5 31/12/2017 99 21,894 715 Corporation Unit Absolute Software Options Coza, Dean 5 03/10/2017 00 Corporation Absolute Software Options Coza, Dean 5 03/10/2017 00 Corporation Absolute Software Options Coza, Dean 5 17/11/2017 99 6.99 86,450 86,450 Corporation Absolute Software Rights Restricted Share Coza, Dean 5 03/10/2017 00 Corporation Unit Absolute Software Rights Restricted Share Coza, Dean 5 03/10/2017 00 Corporation Unit Absolute Software Rights Restricted Share Coza, Dean 5 17/11/2017 99 67,230 67,230 Corporation Unit Absolute Software Rights Restricted Share Coza, Dean 5 16/02/2018 56 85,230 18,000 Corporation Unit Absolute Software Common Shares de Geest, Oliver 7 18/01/2018 99 5.85 1,865 898 Corporation Absolute Software Options de Geest, Oliver 7 15/03/2016 99 7.11 6,300 1,300 Corporation Absolute Software Options de Geest, Oliver 7 15/02/2017 99 6,400 -1,250 Corporation Absolute Software Rights Phantom Share de Geest, Oliver 7 31/12/2016 99 453 37 Corporation Units Absolute Software Rights Phantom Share de Geest, Oliver 7 28/02/2017 99 7.17 225 -228 Corporation Units Absolute Software Rights Phantom Share de Geest, Oliver 7 31/12/2017 99 235 10 Corporation Units Absolute Software Rights Restricted Share de Geest, Oliver 7 31/12/2016 99 4,538 88 Corporation Unit Absolute Software Rights Restricted Share de Geest, Oliver 7 25/05/2017 99 7.11 3,452 -1,086 Corporation Unit

February 22, 2018 (2018), 41 OSCB 1508

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Absolute Software Rights Restricted Share de Geest, Oliver 7 24/08/2017 99 7.76 2,998 -454 Corporation Unit Absolute Software Rights Restricted Share de Geest, Oliver 7 31/12/2017 99 8,842 244 Corporation Unit Absolute Software Options Giffen, J. Ian 4 23/11/2017 99 7.01 55,000 -6,250 Corporation Absolute Software Rights Deferred Share Giffen, J. Ian 4 31/12/2016 99 13,473 473 Corporation Unit Absolute Software Rights Deferred Share Giffen, J. Ian 4 31/12/2017 99 30,946 1,034 Corporation Unit Absolute Software Rights Deferred Share Giffen, J. Ian 4 16/02/2018 56 44,946 14,000 Corporation Unit Absolute Software Options Grace, Mark 5 31/12/2017 99 6.76 50,605 -54,445 Corporation Absolute Software Rights Phantom Share Grace, Mark 5 21/03/2008 00 Corporation Units Absolute Software Rights Phantom Share Grace, Mark 5 31/12/2016 99 2,773 2,773 Corporation Units Absolute Software Rights Phantom Share Grace, Mark 5 28/02/2017 99 7.17 1,330 -1,443 Corporation Units Absolute Software Rights Phantom Share Grace, Mark 5 31/12/2017 99 1,416 86 Corporation Units Absolute Software Rights Restricted Share Grace, Mark 5 21/03/2008 00 Corporation Unit Absolute Software Rights Restricted Share Grace, Mark 5 15/03/2016 99 3,100 3,100 Corporation Unit Absolute Software Rights Restricted Share Grace, Mark 5 23/08/2016 99 8,595 5,495 Corporation Unit Absolute Software Rights Restricted Share Grace, Mark 5 31/12/2016 99 8,780 185 Corporation Unit Absolute Software Rights Restricted Share Grace, Mark 5 25/08/2017 99 21,030 12,250 Corporation Unit Absolute Software Rights Restricted Share Grace, Mark 5 15/12/2017 99 6.76 19,911 -1,119 Corporation Unit Absolute Software Rights Restricted Share Grace, Mark 5 31/12/2017 99 20,444 533 Corporation Unit Absolute Software Rights Restricted Share Grace, Mark 5 16/02/2018 56 27,944 7,500 Corporation Unit Absolute Software Rights Restricted Share Laforce, Marcel Armand 5 14/02/2018 00 30,343 Corporation Unit Absolute Software Rights Restricted Share Laforce, Marcel Armand 5 16/02/2018 56 35,343 5,000 Corporation Unit Absolute Software Rights Restricted Share Mallow, Amanda 7 31/12/2016 99 15,363 363 Corporation Unit Absolute Software Rights Restricted Share Mallow, Amanda 7 31/12/2017 99 37,290 927 Corporation Unit Absolute Software Rights Restricted Share Mallow, Amanda 7 16/02/2018 56 44,790 7,500 Corporation Unit Absolute Software Common Shares maxwell, sean 5 13/09/2017 00 Corporation Absolute Software Common Shares maxwell, sean 5 18/01/2018 99 5.85 1,126 1,126 Corporation Absolute Software Rights Performance Share maxwell, sean 5 31/12/2017 99 15,803 178 Corporation Unit Absolute Software Rights Restricted Share maxwell, sean 5 31/12/2016 99 155,539 5,539 Corporation Unit Absolute Software Rights Restricted Share maxwell, sean 5 31/12/2017 99 178,301 7,137 Corporation Unit Absolute Software Rights Restricted Share maxwell, sean 5 16/02/2018 56 190,801 12,500 Corporation Unit Absolute Software Options Meanchoff, Matthew 5 16/02/2018 00 34,800 Corporation Absolute Software Options Meanchoff, Matthew 5 16/02/2018 50 6.83 40,800 6,000 Corporation Absolute Software Rights Phantom Share Meanchoff, Matthew 5 16/02/2018 00 471 Corporation Units

February 22, 2018 (2018), 41 OSCB 1509

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Absolute Software Rights Restricted Share Meanchoff, Matthew 5 16/02/2018 00 10,276 Corporation Unit Absolute Software Rights Restricted Share Meanchoff, Matthew 5 16/02/2018 56 17,276 7,000 Corporation Unit Absolute Software Rights Deferred Share Mesher, Arthur 4 31/12/2016 99 13,473 473 Corporation Unit Absolute Software Rights Deferred Share Mesher, Arthur 4 31/12/2017 99 30,736 1,034 Corporation Unit Absolute Software Rights Deferred Share Mesher, Arthur 4 16/02/2018 56 44,736 14,000 Corporation Unit Absolute Software Rights Deferred Share Monahan, Gregory Rush 4 31/12/2016 99 13,473 473 Corporation Unit Absolute Software Rights Deferred Share Monahan, Gregory Rush 4 31/12/2017 99 27,507 1,034 Corporation Unit Absolute Software Rights Deferred Share Monahan, Gregory Rush 4 16/02/2018 56 41,507 14,000 Corporation Unit Absolute Software Options Munford, Stephen 5 16/02/2018 00 20,000 Corporation Absolute Software Options Munford, Stephen 5 16/02/2018 50 6.83 420,000 400,000 Corporation Absolute Software Rights Restricted Share Munford, Stephen 5 16/02/2018 00 Corporation Unit Absolute Software Rights Restricted Share Munford, Stephen 5 16/02/2018 56 100,000 100,000 Corporation Unit Absolute Software Rights Performance Share Olsen, Errol 5 31/12/2016 99 16,210 410 Corporation Unit Absolute Software Rights Performance Share Olsen, Errol 5 31/12/2017 99 32,739 904 Corporation Unit Absolute Software Rights Phantom Share Olsen, Errol 5 31/12/2017 99 11,328 472 Corporation Units Absolute Software Rights Restricted Share Olsen, Errol 5 31/12/2016 99 16,210 410 Corporation Unit Absolute Software Rights Restricted Share Olsen, Errol 5 31/12/2017 99 32,739 904 Corporation Unit Absolute Software Rights Restricted Share Olsen, Errol 5 16/02/2018 56 50,739 18,000 Corporation Unit Absolute Software Common Shares Oneal, Pamela Hester 5 05/07/2016 00 Corporation Absolute Software Common Shares Oneal, Pamela Hester 5 18/01/2018 99 5.85 682 682 Corporation Absolute Software Rights Restricted Share Oneal, Pamela Hester 5 31/12/2017 99 33,553 380 Corporation Unit Absolute Software Rights Restricted Share Oneal, Pamela Hester 5 16/02/2018 56 41,053 7,500 Corporation Unit Absolute Software Common Shares Ramsden, Leigh Palmer 5 22/11/2017 99 7.05 20,187 -7,300 Corporation Absolute Software Common Shares Ramsden, Leigh Palmer 5 18/01/2018 99 5.85 23,085 898 Corporation Absolute Software Common Shares Ramsden, Leigh Palmer 5 01/09/2017 00 7,300 Corporation Absolute Software Rights Phantom Share Ramsden, Leigh Palmer 5 31/12/2017 99 708 8 Corporation Units Absolute Software Rights Restricted Share Ramsden, Leigh Palmer 5 31/12/2017 99 10,487 127 Corporation Unit Absolute Software Options Robinson, Arthur 5 07/02/2018 00 19,600 Corporation Absolute Software Rights Restricted Share Robinson, Arthur 5 07/02/2018 00 11,809 Corporation Unit Absolute Software Options Rosenfeld, Eric Stuart 4 12/12/2016 99 6.5 81,250 -15,625 Corporation Absolute Software Rights Deferred Share Rosenfeld, Eric Stuart 4 31/12/2016 99 13,473 473 Corporation Unit Absolute Software Rights Deferred Share Rosenfeld, Eric Stuart 4 31/12/2017 99 27,507 1,034 Corporation Unit Absolute Software Rights Deferred Share Rosenfeld, Eric Stuart 4 16/02/2018 56 41,507 14,000 Corporation Unit

February 22, 2018 (2018), 41 OSCB 1510

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Absolute Software Options Ryan, Daniel 4 11/12/2017 99 6.79 55,000 -6,250 Corporation Absolute Software Rights Deferred Share Ryan, Daniel 4 31/12/2016 99 13,473 473 Corporation Unit Absolute Software Rights Deferred Share Ryan, Daniel 4 31/12/2017 99 27,507 1,034 Corporation Unit Absolute Software Rights Deferred Share Ryan, Daniel 4 16/02/2018 56 41,507 14,000 Corporation Unit Absolute Software Rights Deferred Share Vejvoda, Josef 4 31/12/2016 99 13,473 473 Corporation Unit Absolute Software Rights Deferred Share Vejvoda, Josef 4 31/12/2017 99 30,641 1,034 Corporation Unit Absolute Software Rights Deferred Share Vejvoda, Josef 4 16/02/2018 56 44,641 14,000 Corporation Unit Absolute Software Rights Deferred Share Visca, Salvatore Anthony 4 16/02/2018 56 42,768 14,000 Corporation Unit Absolute Software Rights Phantom Share Wakerley, Todd 5 30/11/2017 99 6.8 7,146 -7,305 Corporation Units Absolute Software Rights Phantom Share Wakerley, Todd 5 31/12/2017 99 7,304 158 Corporation Units Absolute Software Rights Restricted Share Wakerley, Todd 5 31/12/2017 99 45,751 518 Corporation Unit Absolute Software Rights Restricted Share Wakerley, Todd 5 16/02/2018 56 58,251 12,500 Corporation Unit Absolute Software Rights Deferred Share Watzinger, Gerhard 4 31/12/2016 99 13,473 473 Corporation Unit Absolute Software Rights Deferred Share Watzinger, Gerhard 4 31/12/2017 99 27,507 1,034 Corporation Unit Absolute Software Rights Deferred Share Watzinger, Gerhard 4 16/02/2018 56 41,507 14,000 Corporation Unit Acadian Timber Corp. Common Shares Robertson, Bruce Keith 4 14/02/2018 00 2,000 Advantagewon Oil Corp. Common Shares Dove, Charles William 4, 5 09/02/2018 10 0.14 217,500 17,500 Edward Advantagewon Oil Corp. Common Shares Dove, Charles William 4, 5 12/02/2018 10 0.14 250,000 32,500 Edward AGF Management Limited Common Shares Class B AGF EMPLOYEE BENEFIT 2 09/02/2018 10 6.73 139,699 59,532 PLAN TRUST AGF Management Limited Common Shares Class B AGF EMPLOYEE BENEFIT 2 12/02/2018 10 7 151,799 12,100 PLAN TRUST AGF Management Limited Common Shares Class B AGF EMPLOYEE BENEFIT 2 13/02/2018 10 6.73 164,899 13,100 PLAN TRUST AGF Management Limited Common Shares Class B AGF EMPLOYEE BENEFIT 2 14/02/2018 10 6.95 168,299 3,400 PLAN TRUST AGF Management Limited Common Shares Class B AGF EMPLOYEE BENEFIT 2 15/02/2018 10 6.84 197,399 29,100 PLAN TRUST AGF Management Limited Common Shares BASARABA, Adrian 5 08/02/2018 56 7.33 33,527 13,643 Restricted Share Units AGF Management Limited Options Stock Option Plan BASARABA, Adrian 5 08/02/2018 50 7.33 128,809 68,213 AGF Management Limited Restricted Share Units Goldring, Blake Charles 4, 5 08/02/2018 56 7.33 84,720 84,720 AGF Management Limited Restricted Share Units Goldring, Judy 4, 5 08/02/2018 56 7.33 17,053 17,053 AGF Management Limited Common Shares MCCREADIE, KEVIN 5 08/02/2018 56 7.33 105,210 40,928 Restricted Share Units ANDREW AGF Management Limited Options Stock Option Plan MCCREADIE, KEVIN 5 08/02/2018 50 7.33 1,953,904 341,064 ANDREW AIM2 Ventures Inc. Common Shares Cooper, Gavin 5 12/02/2018 00 450,000 AIM2 Ventures Inc. Common Shares Friedman, Alan Mark 4 14/02/2018 00 200,000 AIM2 Ventures Inc. Options Friedman, Alan Mark 4 14/02/2018 00 55,556 AIM2 Ventures Inc. Common Shares Kaba, Zyshan 5 18/01/2018 00 100,000 Akumin Inc. Common Shares DUNFORD, STANLEY 4 24/11/2017 00 GEORGE Akumin Inc. Common Shares DUNFORD, STANLEY 4 08/02/2018 11 3.5 60,000 60,000 GEORGE Akumin Inc. Common Shares Navani, Rohit Kishin 5 08/02/2018 11 3.5 397,619 97,619 Akumin Inc. Common Shares Saleem, Mohammad 5 08/02/2018 11 3.5 317,619 127,619 Kamran Akumin Inc. Common Shares Webb, Jr., James Harold 4 08/02/2018 11 3.5 1,586,545 100,000

February 22, 2018 (2018), 41 OSCB 1511

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Akumin Inc. Common Shares Zine-El-Abidine, Riadh 4, 5 08/02/2018 11 3.5 647,619 147,619 Alaska Hydro Corporation Common Shares Spens, Christian 4 14/02/2018 10 0.055 97,890 -1,000 Alaska Hydro Corporation Common Shares Spens, Christian 4 15/02/2018 10 0.055 88,890 -9,000 Alderon Iron Ore Corp. Common Shares Eldem, Tayfun 4, 5 15/02/2018 16 0.24 833,333 833,333 Alexco Resource Corp. Common Shares Clark, Michael 5 11/02/2018 57 1.68 55,530 11,666 Alexco Resource Corp. Common Shares Clark, Michael 5 12/02/2018 57 1.68 67,197 11,667 Alexco Resource Corp. Common Shares Clark, Michael 5 13/02/2018 10 1.62 60,683 -6,514 Alexco Resource Corp. Common Shares Clark, Michael 5 13/02/2018 10 1.62 54,168 -6,515 Alexco Resource Corp. Restricted Share Units Clark, Michael 5 11/02/2018 57 1.68 54,999 -11,666 Alexco Resource Corp. Restricted Share Units Clark, Michael 5 12/02/2018 57 1.68 43,332 -11,667 Alexco Resource Corp. Common Shares Krepiakevich, Terry 5 12/02/2018 57 1.68 137,232 13,333 Alexco Resource Corp. Common Shares Krepiakevich, Terry 5 13/02/2018 10 1.62 132,290 -4,942 Alexco Resource Corp. Restricted Share Units Krepiakevich, Terry 5 12/02/2018 57 1.68 33,332 -13,333 Alexco Resource Corp. Common Shares McOnie, Alan William 5 11/02/2018 57 1.68 28,996 5,000 Alexco Resource Corp. Common Shares McOnie, Alan William 5 12/02/2018 57 1.68 33,996 5,000 Alexco Resource Corp. Common Shares McOnie, Alan William 5 13/02/2018 10 1.62 31,204 -2,792 Alexco Resource Corp. Common Shares McOnie, Alan William 5 13/02/2018 10 1.62 28,412 -2,792 Alexco Resource Corp. Restricted Share Units McOnie, Alan William 5 11/02/2018 57 1.68 15,000 -5,000 Alexco Resource Corp. Restricted Share Units McOnie, Alan William 5 12/02/2018 57 1.68 10,000 -5,000 Alexco Resource Corp. Common Shares Nauman, Clynton R. 5 11/02/2018 57 1.68 2,040,071 16,666 Alexco Resource Corp. Common Shares Nauman, Clynton R. 5 12/02/2018 57 1.68 2,056,738 16,667 Alexco Resource Corp. Restricted Share Units Nauman, Clynton R. 5 11/02/2018 57 1.68 49,999 -16,666 Alexco Resource Corp. Restricted Share Units Nauman, Clynton R. 5 12/02/2018 57 1.68 33,332 -16,667 Alexco Resource Corp. Common Shares Thrall, Bradley Allen 5 11/02/2018 57 1.68 634,040 11,666 Alexco Resource Corp. Common Shares Thrall, Bradley Allen 5 12/02/2018 57 1.68 645,707 11,667 Alexco Resource Corp. Common Shares Thrall, Bradley Allen 5 13/02/2018 10 1.62 639,193 -6,514 Alexco Resource Corp. Common Shares Thrall, Bradley Allen 5 13/02/2018 10 1.62 632,678 -6,515 Alexco Resource Corp. Restricted Share Units Thrall, Bradley Allen 5 11/02/2018 57 1.68 34,999 -11,666 Alexco Resource Corp. Restricted Share Units Thrall, Bradley Allen 5 12/02/2018 57 1.68 23,332 -11,667 Alexco Resource Corp. Common Shares Van Nieuwenhuyse, Rick 4 12/02/2018 57 1.68 62,275 13,333 Alexco Resource Corp. Common Shares Van Nieuwenhuyse, Rick 4 13/02/2018 10 1.62 54,830 -7,445 Alexco Resource Corp. Restricted Share Units Van Nieuwenhuyse, Rick 4 12/02/2018 57 33,332 -13,333 Alexco Resource Corp. Common Shares Zimmer, Richard Norman 4 12/02/2018 57 1.68 131,695 13,333 Alexco Resource Corp. Common Shares Zimmer, Richard Norman 4 13/02/2018 10 1.62 124,950 -6,745 Alexco Resource Corp. Restricted Share Units Zimmer, Richard Norman 4 12/02/2018 57 1.68 33,332 -13,333 Allegiant Gold Ltd. Common Shares Ball, Russell David 4, 6 15/02/2018 97 5,183,496 -2,750,000 Allegiant Gold Ltd. Common Shares Beil, Charles Warren 6, 5 15/02/2018 97 5,183,496 -2,750,000 Allegiant Gold Ltd. Common Shares Berard, Marie-Helene 6 15/02/2018 97 5,183,496 -2,750,000 Allegiant Gold Ltd. Common Shares Columbus Gold Corporation 3 15/02/2018 11 5,183,496 -2,750,000 Allegiant Gold Ltd. Common Shares Gianulis, Peter Lawrence 4, 6 15/02/2018 97 5,183,496 -2,750,000 Allegiant Gold Ltd. Common Shares Giustra, Robert 4, 6 15/02/2018 97 5,183,496 -2,750,000 Allegiant Gold Ltd. Common Shares Lefrançois, Rock 6 15/02/2018 97 5,183,496 -2,750,000 Allegiant Gold Ltd. Common Shares Martinez, Jorge 6, 5 15/02/2018 97 5,183,496 -2,750,000 Allegiant Gold Ltd. Common Shares Monaghan, Blaine Anthony 6, 5 15/02/2018 97 5,183,496 -2,750,000 Allegiant Gold Ltd. Common Shares Yau, Andrew Ka Shing 6, 5 15/02/2018 97 5,183,496 -2,750,000 Almonty Industries Inc. Common Shares Gelmon, Mark 4, 7, 5 10/09/2015 00 Almonty Industries Inc. Common Shares Gelmon, Mark 4, 7, 5 09/02/2018 10 0.5767 10,000 10,000 Altair Resources Inc. Common Shares Dhanani, Zahir 3 15/02/2018 10 0.07 7,608,484 81,000 Alternate Health Corp. Common Shares BRIGGS, JONATHAN 5 16/02/2018 10 1.35 19,850 4,850 Alternate Health Corp. Common Shares BRIGGS, JONATHAN 5 16/02/2018 10 1.3485 20,000 150 Alternate Health Corp. Common Shares Murphy, Michael Lynn 3, 4, 5 13/02/2018 10 1.5 2,290,355 2,500 Alternate Health Corp. Common Shares Murphy, Michael Lynn 3, 4, 5 13/02/2018 10 1.52 2,297,855 7,500 Altiplano Minerals Ltd. Options McPherson, Ian 4 17/07/2014 00 100,000 Altus Group Limited Common Shares Turrin, Liana 5 14/02/2018 30 29.388 10,919 45 American Core Sectors Trust Units American Core Sectors 1 09/02/2018 38 11.65 3,609,684 400 Dividend Fund Dividend Fund American Creek Resources Options Blaney, Darren 3, 4, 5 05/02/2018 50 0.05 9,095,000 300,000 Ltd.

February 22, 2018 (2018), 41 OSCB 1512

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed American Creek Resources Options Edwards, Dennis Gibb 4 05/02/2018 53 0.05 350,000 25,000 Ltd. American Creek Resources Options Edwards, Robert Nathan 5 05/02/2018 50 0.05 6,285,000 200,000 Ltd. American Creek Resources Options Pownall, Sean Patrick 4 05/02/2018 50 0.05 700,000 25,000 Ltd. American Hotel Income Units Lalani, Azim 5 02/02/2018 90 73,657 -2,900 Properties REIT LP American Hotel Income Units Lalani, Azim 5 08/02/2018 90 72,657 -1,000 Properties REIT LP American Hotel Income Units Lalani, Azim 5 08/02/2018 90 5,593 1,000 Properties REIT LP American Hotel Income Units Lalani, Azim 5 02/02/2018 90 11,110 2,900 Properties REIT LP Anaconda Mining Inc. Options Bullock, Kevin 4 15/02/2018 50 0.46 93,750 43,750 Andrew Peller Limited Non-Voting Shares Class ATHAIDE, BRIAN DAVID 5 12/02/2018 10 15.81 95,757 265 (formerly Andrés Wines Ltd.) A Ansar Financial and Common Shares Jalaluddin, Mohammed 3, 4, 5 15/02/2018 10 0.7 1,839,520 10,500 Development Corporation Ansar Financial and Common Shares Nasim, Pervez 3, 4, 5 15/02/2018 10 0.7 1,839,520 10,500 Development Corporation Arbutus Biopharma Common Shares Koert VandenEnden, Koert 5 13/02/2018 00 2,750 Corporation VandenEnden Arbutus Biopharma Options Koert VandenEnden, Koert 5 13/02/2018 00 50,000 Corporation VandenEnden ARC Resources Ltd. Common Shares Kvisle, Harold N. 4 12/02/2018 10 12.92 120,000 5,000 ARC Resources Ltd. Common Shares Kvisle, Harold N. 4 12/02/2018 10 12.97 132,000 12,000 ARC Resources Ltd. Common Shares Kvisle, Harold N. 4 14/02/2018 10 12.51 138,000 6,000 ARC Resources Ltd. Common Shares Kvisle, Harold N. 4 14/02/2018 10 12.35 145,000 7,000 ARC Resources Ltd. Common Shares Olsen, Lisa Ann 5 01/01/2016 00 ARC Resources Ltd. Common Shares Olsen, Lisa Ann 5 12/02/2018 10 12.86 2,300 2,300 ARC Resources Ltd. Common Shares Stadnyk, Myron Maurice 4, 5 15/02/2018 10 12.35 283,449 5,000 ARHT Media Inc. (formerly Common Shares Battiston, Deborah 5 04/08/2016 00 known as Vast Exploration Inc.) ARHT Media Inc. (formerly Common Shares Battiston, Deborah 5 09/02/2018 16 0.4 120,000 120,000 known as Vast Exploration Inc.) ARHT Media Inc. (formerly Common Shares Battiston, Deborah 5 12/02/2018 16 0.4 270,000 150,000 known as Vast Exploration Inc.) ARHT Media Inc. (formerly Warrants Battiston, Deborah 5 04/08/2016 00 known as Vast Exploration Inc.) ARHT Media Inc. (formerly Warrants Battiston, Deborah 5 09/02/2018 16 0.4 60,000 60,000 known as Vast Exploration Inc.) ARHT Media Inc. (formerly Warrants Battiston, Deborah 5 12/02/2018 16 0.4 135,000 75,000 known as Vast Exploration Inc.) ARHT Media Inc. (formerly Common Shares Bharti, Rene 4 09/02/2018 16 0.4 12,526,000 1,000,000 known as Vast Exploration Inc.) ARHT Media Inc. (formerly Warrants Bharti, Rene 4 17/10/2014 00 known as Vast Exploration Inc.) ARHT Media Inc. (formerly Warrants Bharti, Rene 4 09/02/2018 16 0.4 500,000 500,000 known as Vast Exploration Inc.) Arizona Mining Inc. Common Shares South32 International 3 13/02/2018 16 4.48 47,269,261 836,279 Investment Holdings Pty Ltd Artis Real Estate Investment Restricted Units Green, James 5 15/02/2018 56 13.59 45,210 298 Trust Artis Real Estate Investment Deferred Units Jack, Bruce William James 4 15/02/2018 56 13.59 8,391 56 Trust Artis Real Estate Investment Restricted Units Johnson, David Lyall 5 15/02/2018 56 13.59 7,162 47 Trust

February 22, 2018 (2018), 41 OSCB 1513

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Artis Real Estate Investment Restricted Units Martens, Armin 4, 5 15/02/2018 56 13.59 151,385 996 Trust Artis Real Estate Investment Deferred Units Martens, Cornelius 4, 5 15/02/2018 56 13.59 5,095 33 Trust Artis Real Estate Investment Restricted Units Martens, Philip 5 15/02/2018 56 13.59 4,269 28 Trust Artis Real Estate Investment Deferred Units Rimer, Ronald Albert 4 15/02/2018 56 13.59 23,579 155 Trust Artis Real Estate Investment Deferred Units Ryan, Patrick Gowan 4 15/02/2018 56 13.59 34,394 226 Trust Artis Real Estate Investment Restricted Units Sherlock, Stephen Francis 5 15/02/2018 56 13.59 7,162 47 Trust Patrick Artis Real Estate Investment Deferred Units Thielmann, Victor 4 15/02/2018 56 13.59 5,095 33 Trust Artis Real Estate Investment Deferred Units Townsend, Kenneth 4 15/02/2018 56 13.59 5,095 33 Trust Artis Real Estate Investment Deferred Units Warkentin, Edward 4, 5 15/02/2018 56 13.59 5,095 33 Trust Artis Real Estate Investment Restricted Units Wong, Dennis San 5 15/02/2018 56 13.59 47 Trust Artis Real Estate Investment Restricted Units Wong, Dennis San 5 15/02/2018 56 13.59 7,862 52 Trust Asanko Gold Inc. Common Shares Breese, Peter 4 15/02/2018 56 1,230,249 450,000 Asanko Gold Inc. Options Breese, Peter 4 17/10/2017 52 1,450,000 -600,000 Asanko Gold Inc. Options Breese, Peter 4 06/02/2018 50 1.07 1,790,000 340,000 Asanko Gold Inc. Options de Groot, Marcel H. 4 15/02/2018 50 327,000 15,000 Asanko Gold Inc. Rights Restricted Share de Groot, Marcel H. 4 02/07/2009 00 Units Asanko Gold Inc. Rights Restricted Share de Groot, Marcel H. 4 15/02/2018 56 35,000 35,000 Units Asanko Gold Inc. Common Shares Di Trapani, Fausto 5 15/02/2018 56 429,812 225,000 Asanko Gold Inc. Options Di Trapani, Fausto 5 07/11/2017 52 745,000 -230,000 Asanko Gold Inc. Options Di Trapani, Fausto 5 06/02/2018 50 1.07 925,000 180,000 Asanko Gold Inc. Common Shares Jin Huang Mining Company 3 09/02/2018 00 1,000,000 Limited Asanko Gold Inc. Common Shares Jin Huang Mining Company 3 09/02/2018 00 11,529,097 Limited Asanko Gold Inc. Common Shares Jin Huang Mining Company 3 09/02/2018 00 11,300,000 Limited Asanko Gold Inc. Common Shares Price, Michael 4 06/02/2014 00 Asanko Gold Inc. Common Shares Price, Michael 4 15/02/2018 56 35,000 35,000 Asanko Gold Inc. Options Price, Michael 4 12/06/2017 52 299,000 -63,000 Asanko Gold Inc. Options Price, Michael 4 06/02/2018 50 1.07 314,000 15,000 Asanko Gold Inc. Common Shares Smart, William Keith 4 15/02/2018 56 1,127,561 35,000 Asanko Gold Inc. Options Smart, William Keith 4 06/02/2018 50 1.07 157,000 15,000 Asanko Gold Inc. Common Shares Steyn, Colin 4 15/02/2018 56 1,012,600 35,000 Asanko Gold Inc. Options Steyn, Colin 4 06/02/2018 50 1.07 397,000 15,000 Asanko Gold Inc. Common Shares Truter, Hugo Johannes 5 15/02/2018 56 165,370 74,370 Asanko Gold Inc. Options Truter, Hugo Johannes 5 07/11/2017 52 975,000 -345,000 Asanko Gold Inc. Options Truter, Hugo Johannes 5 06/02/2018 50 1.07 1,125,000 150,000 Asanko Gold Inc. Options Wallace, Shawn 4 06/02/2018 50 1.07 302,000 15,000 Asanko Gold Inc. Common Shares Zijin Global Fund 3 09/02/2018 00 1,000,000 Asanko Gold Inc. Common Shares Zijin Global Fund 3 09/02/2018 00 11,300,000 Asanko Gold Inc. Common Shares Zijin Global Fund 3 09/02/2018 00 11,529,097 Atico Mining Corporation Warrants Ganoza Aicardi, Jorge R. 4, 5 16/07/2014 55 110,000 -7,693 Atico Mining Corporation Warrants Ganoza Aicardi, Jorge R. 4, 5 19/09/2015 55 0 -110,000 Atico Mining Corporation Warrants Ganoza Durant, Luis Dario 4 16/07/2014 55 0 -161,539 Atlantic Gold Corporation Common Shares Beedie, Ryan K 3, 4 13/02/2018 11 1.57 48,153,038 865,094 (previously Spur Ventures Inc.) Aton Resources Inc. Common Shares OU MOONRIDER 3 13/02/2018 11 0.04 64,134,154 25,000,000 Aton Resources Inc. Warrants OU MOONRIDER 3 13/02/2018 11 0.05 48,346,154 25,000,000 Aurania Resources Ltd. Common Shares Barron, Keith Michael 3, 4, 5 30/01/2018 51 0.4 700,000

February 22, 2018 (2018), 41 OSCB 1514

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Aurania Resources Ltd. Common Shares Barron, Keith Michael 3, 4, 5 30/01/2018 51 0.4 700,000 Aurania Resources Ltd. Options Barron, Keith Michael 3, 4, 5 30/01/2018 51 0.4 -700,000 Aurania Resources Ltd. Options Barron, Keith Michael 3, 4, 5 30/01/2018 51 0.4 -700,000 Aurania Resources Ltd. Common Shares Ellingham, Elaine 4 07/02/2018 51 0.4 1,093,500 125,000 Aurania Resources Ltd. Options Ellingham, Elaine 4 07/02/2018 51 0.4 130,000 -125,000 Aurania Resources Ltd. Common Shares Harper, Gerald 4 09/02/2018 10 2.95 200,850 -2,000 Aurania Resources Ltd. Common Shares Harper, Gerald 4 09/02/2018 10 2.88 198,850 -2,000 Aurania Resources Ltd. Common Shares Harper, Gerald 4 12/02/2018 10 2.95 194,850 -4,000 Aurania Resources Ltd. Common Shares Harper, Gerald 4 13/02/2018 51 0.4 229,850 35,000 Aurania Resources Ltd. Common Shares Harper, Gerald 4 14/02/2018 10 2.87 227,850 -2,000 Aurania Resources Ltd. Common Shares Harper, Gerald 4 14/02/2018 10 2.86 225,850 -2,000 Aurania Resources Ltd. Common Shares Harper, Gerald 4 14/02/2018 51 0.4 260,850 35,000 Aurania Resources Ltd. Common Shares Harper, Gerald 4 15/02/2018 10 2.88 260,050 -800 Aurania Resources Ltd. Common Shares Harper, Gerald 4 15/02/2018 10 2.86 258,050 -2,000 Aurania Resources Ltd. Options Harper, Gerald 4 13/02/2018 51 0.4 380,000 35,000 Aurania Resources Ltd. Options Harper, Gerald 4 14/02/2018 51 0.4 415,000 35,000 Aurania Resources Ltd. Common Shares Kaiser, Marvin Kent 4 12/02/2018 10 2.91 99,400 -600 Aurania Resources Ltd. Common Shares Kaiser, Marvin Kent 4 13/02/2018 10 2.9 95,700 -3,700 Aurania Resources Ltd. Common Shares Kaiser, Marvin Kent 4 14/02/2018 10 2.9 92,500 -3,200 Aurania Resources Ltd. Common Shares Kaiser, Marvin Kent 4 15/02/2018 10 2.9 89,500 -3,000 Aurelius Minerals Inc. Options McInnes, Donald Arthur 4 17/02/2018 52 777,200 -350,000 (formerly Galena International Resources Ltd.) Aurinia Pharmaceuticals Inc. Options Hagan, Joseph Patrick 4 07/02/2018 00 Aurinia Pharmaceuticals Inc. Options Hagan, Joseph Patrick 4 09/02/2018 50 6.4 50,000 50,000 Aurinia Pharmaceuticals Inc. Options Huizinga, Robert 5 01/02/2018 50 6.52 522,537 225,000 Aurora Cannabis Inc. Common Shares Belot, Neil 5 13/02/2018 30 10.68 15,082 45 Aurora Cannabis Inc. Common Shares Booth, Terry 4 13/02/2018 30 10.68 126,585 46 Aurora Cannabis Inc. Common Shares Cleiren, Allan John 5 13/02/2018 30 10.68 34,963 27 Aurora Cannabis Inc. Options Del Moral, Jose 4 07/02/2018 50 11.53 600,000 150,000 Aurora Cannabis Inc. Common Shares Dobler, Stephen 4 13/02/2018 30 10.68 82 45 Aurora Cannabis Inc. Common Shares Wilson, Debra 5 13/02/2018 10 10.68 97 35 Aurora Spine Corporation Common Shares Rosenkrantz, David Aubrey 4 08/02/2018 16 0.1 5,982,000 1,800,000 Avigilon Corporation Common Shares Cochrane, Samuel 5 07/02/2018 00 980 Avigilon Corporation Common Shares Cochrane, Samuel 5 07/02/2018 00 830 Avigilon Corporation Common Shares Cochrane, Samuel 5 07/02/2018 00 2,409 Avigilon Corporation Common Shares Cochrane, Samuel 5 07/02/2018 00 830 Avigilon Corporation Options Cochrane, Samuel 5 07/02/2018 00 20,000 Avigilon Corporation Restricted Share Units Cochrane, Samuel 5 07/02/2018 00 75,838 AVINO SILVER & GOLD Common Shares Baybak, Michael 4 13/02/2018 51 1.6 281,366 25,000 MINES LTD. AVINO SILVER & GOLD Options Baybak, Michael 4 13/02/2018 51 1.6 300,000 -25,000 MINES LTD. Balmoral Resources Ltd. Options Wagner, Darin 4, 5 06/02/2018 52 1.05 1,395,500 -500,000 Bank of Montreal Common Shares Begy, Christopher Blake 5 31/12/2017 30 94.05 646 21 Bank of Montreal Common Shares Orsino, Philip 4 31/12/2017 30 96.14 201 7 Bank of Montreal Common Shares White, William Darryl 7, 5 31/12/2017 30 96.4 381 105 Baytex Energy Corp. Common Shares Arthur, Kendall Douglas 5 31/12/2017 30 3.95 62,727 3,393 Baytex Energy Corp. Common Shares Darcy, Geoffrey James 5 31/12/2017 30 4.25 133,922 5,828 Baytex Energy Corp. Common Shares Johnson, Ryan McKenzie 5 31/12/2017 30 3.96 27,552 12,781 Baytex Energy Corp. Common Shares Kalmakoff, Chadwick 5 31/12/2017 30 4.97 8,656 1,957 Baytex Energy Corp. Common Shares Lovett, Michael Scott 5 05/09/2017 00 Baytex Energy Corp. Common Shares Lovett, Michael Scott 5 31/12/2017 30 3.7 4,005 4,005 BCE Inc. Common Shares Bibic, Mirko 7 12/02/2018 57 4,803 4,803 BCE Inc. Common Shares Bibic, Mirko 7 12/02/2018 57 7,205 2,402 BCE Inc. Common Shares Bibic, Mirko 7 14/02/2018 10 2,402 -4,803 BCE Inc. Common Shares Bibic, Mirko 7 14/02/2018 10 0 -2,402 BCE Inc. Performance-based Bibic, Mirko 7 12/02/2018 57 10,419 -6,461 Restricted Share Units BCE Inc. Restricted Share Units Bibic, Mirko 7 12/02/2018 57 20,838 -12,921

February 22, 2018 (2018), 41 OSCB 1515

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed BCE Inc. Share Units Bibic, Mirko 7 15/02/2018 57 83,694 2,584 BCE Inc. Share Units Bibic, Mirko 7 15/02/2018 57 84,986 1,292 BCE Inc. Common Shares Brown, Charles 7 12/02/2018 57 6,004 6,004 BCE Inc. Common Shares Brown, Charles 7 12/02/2018 57 9,006 3,002 BCE Inc. Common Shares Brown, Charles 7 14/02/2018 10 3,002 -6,004 BCE Inc. Common Shares Brown, Charles 7 14/02/2018 10 0 -3,002 BCE Inc. Performance-based Brown, Charles 7 12/02/2018 57 10,402 -6,461 Restricted Share Units BCE Inc. Restricted Share Units Brown, Charles 7 12/02/2018 57 20,802 -12,921 BCE Inc. Common Shares Cole, Michael 7 12/02/2018 57 16,587 6,004 BCE Inc. Common Shares Cole, Michael 7 12/02/2018 57 19,589 3,002 BCE Inc. Common Shares Cole, Michael 7 14/02/2018 10 13,585 -6,004 BCE Inc. Common Shares Cole, Michael 7 14/02/2018 10 10,583 -3,002 BCE Inc. Performance-based Cole, Michael 7 12/02/2018 57 10,402 -6,461 Restricted Share Units BCE Inc. Restricted Share Units Cole, Michael 7 12/02/2018 57 20,802 -12,921 BCE Inc. Common Shares Cope, George 4, 5 12/02/2018 57 61,228 28,220 BCE Inc. Common Shares Cope, George 4, 5 12/02/2018 57 75,338 14,110 BCE Inc. Common Shares Cope, George 4, 5 14/02/2018 10 47,118 -28,220 BCE Inc. Common Shares Cope, George 4, 5 14/02/2018 10 33,008 -14,110 BCE Inc. Performance-based Cope, George 4, 5 12/02/2018 57 48,889 -30,364 Restricted Share Units BCE Inc. Restricted Share Units Cope, George 4, 5 12/02/2018 57 97,774 -60,728 BCE Inc. Common Shares HOWE, STEPHEN GUY 7 12/02/2018 57 49,595 7,926 BCE Inc. Common Shares HOWE, STEPHEN GUY 7 12/02/2018 57 3963 53,558 3,963 BCE Inc. Common Shares HOWE, STEPHEN GUY 7 14/02/2018 10 45,632 -7,926 BCE Inc. Common Shares HOWE, STEPHEN GUY 7 14/02/2018 10 41,669 -3,963 BCE Inc. Performance-based HOWE, STEPHEN GUY 7 12/02/2018 57 13,757 -8,529 Restricted Share Units BCE Inc. Restricted Share Units HOWE, STEPHEN GUY 7 12/02/2018 57 27,517 -17,057 BCE Inc. Common Shares Jamal, Rizwan 7 12/02/2018 57 3,603 3,603 BCE Inc. Common Shares Jamal, Rizwan 7 12/02/2018 57 5,404 1,801 BCE Inc. Performance-based Jamal, Rizwan 7 12/02/2018 57 4,161 -3,878 Restricted Share Units BCE Inc. Restricted Share Units Jamal, Rizwan 7 15/04/2016 35 59.74 223 BCE Inc. Restricted Share Units Jamal, Rizwan 7 15/04/2016 35 59.74 11,037 126 BCE Inc. Restricted Share Units Jamal, Rizwan 7 15/07/2016 35 62.52 215 BCE Inc. Restricted Share Units Jamal, Rizwan 7 15/07/2016 35 62.52 11,157 120 BCE Inc. Restricted Share Units Jamal, Rizwan 7 15/10/2016 35 60.3 225 BCE Inc. Restricted Share Units Jamal, Rizwan 7 15/10/2016 35 60.3 11,283 126 BCE Inc. Restricted Share Units Jamal, Rizwan 7 15/01/2017 35 58.19 11,416 133 BCE Inc. Restricted Share Units Jamal, Rizwan 7 15/04/2017 35 60.87 7,477 87 BCE Inc. Restricted Share Units Jamal, Rizwan 7 15/07/2017 35 58.16 7,569 92 BCE Inc. Restricted Share Units Jamal, Rizwan 7 15/10/2017 35 59.11 7,661 92 BCE Inc. Restricted Share Units Jamal, Rizwan 7 15/01/2018 35 58.11 7,756 95 BCE Inc. Restricted Share Units Jamal, Rizwan 7 12/02/2018 57 0 -7,756 BCE Inc. Common Shares Kirby, Blaik 5 12/02/2018 57 4,564 4,564 BCE Inc. Common Shares Kirby, Blaik 5 12/02/2018 57 6,846 2,282 BCE Inc. Common Shares Kirby, Blaik 5 14/02/2018 10 2,282 -4,564 BCE Inc. Common Shares Kirby, Blaik 5 14/02/2018 10 0 -2,282 BCE Inc. Performance-based Kirby, Blaik 5 12/02/2018 57 8,360 -4,912 Restricted Share Units BCE Inc. Restricted Share Units Kirby, Blaik 5 12/02/2018 57 16,720 -9,823 BCE Inc. Common Shares le Duc, Bernard 5 12/02/2018 57 4,804 4,804 BCE Inc. Common Shares le Duc, Bernard 5 12/02/2018 57 -2,402 BCE Inc. Common Shares le Duc, Bernard 5 12/02/2018 57 7,206 2,402 BCE Inc. Performance-based le Duc, Bernard 5 12/02/2018 57 10,495 -5,169 Restricted Share Units BCE Inc. Restricted Share Units le Duc, Bernard 5 12/02/2018 57 20,987 -10,338 BCE Inc. Common Shares LeBlanc, Glen 5 27/06/2015 00

February 22, 2018 (2018), 41 OSCB 1516

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed BCE Inc. Common Shares LeBlanc, Glen 5 12/02/2018 57 4,776 4,776 BCE Inc. Common Shares LeBlanc, Glen 5 12/02/2018 57 7,165 2,389 BCE Inc. Performance-based LeBlanc, Glen 5 12/02/2018 57 5,210 -5,194 Restricted Share Units BCE Inc. Restricted Share Units LeBlanc, Glen 5 15/04/2016 35 59.74 230 BCE Inc. Restricted Share Units LeBlanc, Glen 5 15/04/2016 35 59.74 9,568 108 BCE Inc. Restricted Share Units LeBlanc, Glen 5 15/07/2016 35 62.52 223 BCE Inc. Restricted Share Units LeBlanc, Glen 5 15/07/2016 35 62.52 9,672 104 BCE Inc. Restricted Share Units LeBlanc, Glen 5 15/10/2016 35 60.3 233 BCE Inc. Restricted Share Units LeBlanc, Glen 5 15/10/2016 35 60.3 9,782 110 BCE Inc. Restricted Share Units LeBlanc, Glen 5 15/01/2017 35 58.19 9,897 115 BCE Inc. Restricted Share Units LeBlanc, Glen 5 15/04/2017 35 60.87 10,013 116 BCE Inc. Restricted Share Units LeBlanc, Glen 5 15/07/2017 35 58.16 10,137 124 BCE Inc. Restricted Share Units LeBlanc, Glen 5 15/10/2017 35 59.11 10,260 123 BCE Inc. Restricted Share Units LeBlanc, Glen 5 15/01/2018 35 58.11 10,386 126 BCE Inc. Restricted Share Units LeBlanc, Glen 5 12/02/2018 57 0 -10,386 BCE Inc. Common Shares Lennox, Randal 5 27/02/2017 00 BCE Inc. Common Shares Lennox, Randal 5 12/02/2018 57 722 722 BCE Inc. Common Shares Lennox, Randal 5 12/02/2018 57 1,083 361 BCE Inc. Common Shares Lennox, Randal 5 14/02/2018 10 361 -722 BCE Inc. Common Shares Lennox, Randal 5 14/02/2018 10 0 -361 BCE Inc. Performance-based Lennox, Randal 5 12/02/2018 57 5,190 -778 Restricted Share Units BCE Inc. Restricted Share Units Lennox, Randal 5 12/02/2018 57 10,379 -1,554 BCE Inc. Common Shares Little, Thomas (Tom) 7 12/02/2018 57 6,004 6,004 BCE Inc. Common Shares Little, Thomas (Tom) 7 12/02/2018 57 9,006 3,002 BCE Inc. Performance-based Little, Thomas (Tom) 7 12/02/2018 57 5,477 -6,461 Restricted Share Units BCE Inc. Restricted Share Units Little, Thomas (Tom) 7 12/02/2018 57 21,655 -12,921 BCE Inc. Common Shares Oosterman, Wade 7 12/02/2018 57 109,607 9,607 BCE Inc. Common Shares Oosterman, Wade 7 12/02/2018 57 114,411 4,804 BCE Inc. Common Shares Oosterman, Wade 7 14/02/2018 10 104,804 -9,607 BCE Inc. Common Shares Oosterman, Wade 7 14/02/2018 10 100,000 -4,804 BCE Inc. Performance-based Oosterman, Wade 7 12/02/2018 57 10,229 -10,338 Restricted Share Units BCE Inc. Restricted Share Units Oosterman, Wade 7 12/02/2018 57 20,459 -20,674 BCE Inc. Common Shares Rovinescu, Calin 4 28/04/2016 00 BCE Inc. Common Shares Rovinescu, Calin 4 28/04/2016 00 18,647 BCE Inc. Common Shares Turcotte, Martine 5 12/02/2018 57 26,827 6,032 BCE Inc. Common Shares Turcotte, Martine 5 12/02/2018 57 29,843 3,016 BCE Inc. Performance-based Turcotte, Martine 5 12/02/2018 57 10,402 -6,461 Restricted Share Units BCE Inc. Restricted Share Units Turcotte, Martine 5 12/02/2018 57 20,802 -12,921 BCE Inc. Common Shares Watson, John 7 12/02/2018 57 12,104 7,204 BCE Inc. Common Shares Watson, John 7 12/02/2018 57 15,706 3,602 BCE Inc. Common Shares Watson, John 7 14/02/2018 10 8,502 -7,204 BCE Inc. Common Shares Watson, John 7 14/02/2018 10 4,900 -3,602 BCE Inc. Performance-based Watson, John 7 12/02/2018 57 12,501 -7,753 Restricted Share Units BCE Inc. Restricted Share Units Watson, John 7 12/02/2018 57 24,999 -15,505 BCE Inc. Common Shares Weiss, Paul Raymond 4 09/01/2018 10 57.52 0 -819 Bear Creek Mining Options De Witt, David E. 4, 5 06/02/2018 52 3.25 288,000 -150,000 Corporation Bear Creek Mining Options McLeod-Seltzer, Catherine 4, 5 06/02/2018 52 3.25 513,600 -300,000 Corporation Bear Creek Mining Options Morano, Kevin Robert 4 06/02/2018 52 3.25 540,000 -300,000 Corporation Bear Creek Mining Options Swarthout, Andrew 4, 5 06/02/2018 52 3.25 900,000 -450,000 Corporation Bear Creek Mining Options Tweddle, Frank R. 4 06/02/2018 52 3.25 288,000 -150,000 Corporation

February 22, 2018 (2018), 41 OSCB 1517

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Bear Creek Mining Options Watson, Nolan Allan 4 06/02/2018 52 3.25 288,000 -150,000 Corporation Belgravia Capital Common Shares Azodi, Mehdi 5 14/02/2018 54 0.08 11,031,630 223,690 International Inc. (formerly, IC Potash Corp.) Belgravia Capital Warrants Azodi, Mehdi 5 14/02/2018 54 0.08 10,000,000 -223,690 International Inc. (formerly, IC Potash Corp.) Biocure Technology Inc. Common Shares Kim, Sang Goo 4 16/02/2018 51 0.4 69,723 50,000 Biocure Technology Inc. Options Kim, Sang Goo 4 28/08/2015 00 Biocure Technology Inc. Options Kim, Sang Goo 4 24/11/2017 50 480,000 Biocure Technology Inc. Options Kim, Sang Goo 4 24/11/2017 50 480,000 480,000 Biocure Technology Inc. Options Kim, Sang Goo 4 16/02/2018 51 0.4 430,000 -50,000 Birchcliff Energy Ltd. Common Shares Carlsen, Christopher 5 16/02/2018 10 3.06 17,425 4,000 Andrew Birchcliff Energy Ltd. Preferred Shares Series A Carlsen, Christopher 5 22/07/2013 00 Preferred Shares Andrew Birchcliff Energy Ltd. Preferred Shares Series A Carlsen, Christopher 5 16/02/2018 10 23.15 300 300 Preferred Shares Andrew Birchcliff Energy Ltd. Common Shares Geremia, Bruno P. 5 16/02/2018 10 3.1 158,000 2,000 Birchcliff Energy Ltd. Common Shares Geremia, Bruno P. 5 16/02/2018 10 3.12 160,000 2,000 Birchcliff Energy Ltd. Common Shares Surbey, James William 4 16/02/2018 10 3.1227 181,600 100,000 Birchcliff Energy Ltd. Common Shares Surbey, James William 4 16/02/2018 10 3.0499 465,400 19,500 Birchcliff Energy Ltd. Common Shares Surbey, James William 4 16/02/2018 10 3.05 465,900 500 Birchcliff Energy Ltd. Common Shares Tonken, Aaron Jeffery 4, 5 16/02/2018 10 3.1 32,410 14,700 Bird River Resources Inc. Common Shares Carroll, Donal 4 18/09/2017 00 Bird River Resources Inc. Common Shares Carroll, Donal 4 09/02/2018 22 0.1 2,800,000 2,800,000 Black Diamond Group Common Shares Kernaghan, Edward James 3 12/02/2018 10 2.58 554,500 3,300 Limited Black Diamond Group Common Shares Kernaghan, Edward James 3 12/02/2018 10 2.575 3,011,300 3,300 Limited Black Diamond Group Common Shares Kernaghan, Edward James 3 12/02/2018 10 2.59 701,300 100 Limited Black Diamond Group Common Shares Kernaghan, Edward James 3 12/02/2018 10 2.58 703,300 2,000 Limited Black Diamond Group Common Shares Kernaghan, Edward James 3 12/02/2018 10 2.575 1,700 Limited Black Diamond Group Common Shares Kernaghan, Edward James 3 12/02/2018 10 2.575 704,000 700 Limited Black Diamond Group Common Shares Kernaghan, Edward James 3 09/02/2018 10 2.5 4,825,500 2,700 Limited Black Diamond Group Common Shares Kernaghan, Edward James 3 09/02/2018 10 2.495 4,825,600 100 Limited Black Diamond Group Common Shares Kernaghan, Edward James 3 09/02/2018 10 2.49 4,827,800 2,200 Limited Black Diamond Group Common Shares Kernaghan, Edward James 3 09/02/2018 10 2.485 4,828,000 200 Limited Black Diamond Group Common Shares Kernaghan, Edward James 3 09/02/2018 10 2.48 4,830,500 2,500 Limited Black Diamond Group Common Shares Kernaghan, Edward James 3 09/02/2018 10 2.475 4,850,600 20,100 Limited Blackbird Energy Inc. Options Macdonald, William 4, 5 10/01/2018 50 750,000 Blackbird Energy Inc. Options Macdonald, William 4, 5 10/01/2018 50 1,950,000 750,000 Blackline Safety Corp. Common Shares Finbow, John Robert 4 13/02/2018 10 5 89,580 1,000 Blind Creek Resources Ltd. Common Shares kennedy, thomas john 4, 5 15/02/2018 51 0.12 250,000 Blind Creek Resources Ltd. Common Shares kennedy, thomas john 4, 5 15/02/2018 36 0.12 250,000 250,000 Blind Creek Resources Ltd. Options kennedy, thomas john 4, 5 15/02/2018 51 0 -250,000 Blox Labs Inc. Common Shares Ross, Vika Janina 8 12/02/2018 10 0.4 1,804,400 1,000 Blox Labs Inc. Common Shares Zanini, Jeffrey Alan 4 13/02/2018 10 0.5 1,006,900 2,000 Blox Labs Inc. Common Shares Zanini, Jeffrey Alan 4 13/02/2018 10 0.66 1,008,200 1,300 Bonterra Energy Corp. Common Shares Fink, George Frederick 3, 4, 5 09/02/2018 10 12.95 3,274,499 5,000 Brick Brewing Co. Limited Options Birch, David John 5 08/02/2018 00 90,000 Brick Brewing Co. Limited Options Birch, David John 5 08/02/2018 50 3.94 240,000 150,000

February 22, 2018 (2018), 41 OSCB 1518

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Brookfield Asset Common Shares Class A Brookfield Asset 1 09/02/2018 38 38.277 37,185 37,185 Management Inc. Limited Voting Management Inc. Brookfield Asset Common Shares Class A Brookfield Asset 1 09/02/2018 38 37.929 59,363 22,178 Management Inc. Limited Voting Management Inc. Brookfield Asset Common Shares Class A Brookfield Asset 1 09/02/2018 38 38.277 184,363 125,000 Management Inc. Limited Voting Management Inc. Brookfield Asset Common Shares Class A Brookfield Asset 1 09/02/2018 38 38.281 312,568 128,205 Management Inc. Limited Voting Management Inc. Brookfield Asset Common Shares Class A Brookfield Asset 1 12/02/2018 38 38.85 349,753 37,185 Management Inc. Limited Voting Management Inc. Brookfield Asset Common Shares Class A Brookfield Asset 1 12/02/2018 38 38.851 365,353 15,600 Management Inc. Limited Voting Management Inc. Brookfield Asset Common Shares Class A Brookfield Asset 1 12/02/2018 38 38.854 493,558 128,205 Management Inc. Limited Voting Management Inc. Brookfield Asset Common Shares Class A Brookfield Asset 1 13/02/2018 38 38.829 530,743 37,185 Management Inc. Limited Voting Management Inc. Brookfield Asset Common Shares Class A Brookfield Asset 1 13/02/2018 38 38.822 656,501 125,758 Management Inc. Limited Voting Management Inc. Brookfield Asset Common Shares Class A Brookfield Asset 1 13/02/2018 38 38.83 657,007 506 Management Inc. Limited Voting Management Inc. Brookfield Asset Common Shares Class A Brookfield Asset 1 14/02/2018 38 38.696 694,192 37,185 Management Inc. Limited Voting Management Inc. Brookfield Asset Common Shares Class A Brookfield Asset 1 14/02/2018 38 38.63 696,901 2,709 Management Inc. Limited Voting Management Inc. Brookfield Asset Common Shares Class A Brookfield Asset 1 15/02/2018 38 39.264 734,069 37,168 Management Inc. Limited Voting Management Inc. Brookfield Asset Common Shares Class A Brookfield Asset 1 15/02/2018 30 548,161 -185,908 Management Inc. Limited Voting Management Inc. Brookfield Asset Common Shares Class A Brookfield Asset 1 15/02/2018 38 0 -548,161 Management Inc. Limited Voting Management Inc. Brookfield Asset Common Shares Class A Myhal, George 6 16/02/2018 51 49.43 382,500 150,000 Management Inc. Limited Voting Brookfield Asset Options Myhal, George 6 16/02/2018 51 21.08 1,200,001 -150,000 Management Inc. Brookfield Business Partners Limited Partnership Units Aiken, David Charles 5 09/02/2018 00 228 L.P. Brookfield Business Partners Limited Partnership Units Girsky, Stephen Jon 4 13/02/2018 10 36.897 8,000 4,000 L.P. Brookfield Business Partners Limited Partnership Units Lacey, John Stewart 4 13/02/2018 10 37.19 10,500 2,000 L.P. Brookfield Business Partners Limited Partnership Units Zuccotti, Patricia Laughlin 4 13/02/2018 10 37.216 4,961 1,346 L.P. Brookfield Renewable Limited Partnership Units Maroun, Louis 4 02/03/2012 10 27.6 7,300 7,300 Energy Partners L.P. Brookfield Renewable Limited Partnership Units Maroun, Louis 4 29/03/2012 10 25.966 7,800 500 Energy Partners L.P. Brookfield Renewable Limited Partnership Units Maroun, Louis 4 02/03/2012 10 27.6 7,300 Energy Partners L.P. Brookfield Renewable Limited Partnership Units Maroun, Louis 4 29/03/2012 10 25.966 500 Energy Partners L.P. Brookfield Renewable Limited Partnership Units Maroun, Louis 4 28/11/2011 00 Partners L.P. Brookfield Renewable Limited Partnership Units Maroun, Louis 4 13/02/2018 10 40.445 9,500 1,700 Partners L.P. Brookfield Renewable Limited Partnership Units Maroun, Louis 4 13/02/2018 10 40.484 10,000 500 Partners L.P. Brunswick Resources Inc. Options Tremblay, Rodrigue 4, 6, 5 17/09/2015 52 0 -700,000 BSM Technologies Inc. Deferred Share Units Edmison, John Kelly 4 12/02/2018 56 84,249 10,448 BSM Technologies Inc. Deferred Share Units Gutman, Andrew 4 12/02/2018 56 101,580 6,530 BSM Technologies Inc. Deferred Share Units Metcalfe, Leonard Harold 4 12/02/2018 56 92,045 10,448 BSM Technologies Inc. Deferred Share Units Monahan, Gregory Rush 4 12/02/2018 56 68,621 6,856 BSM Technologies Inc. Deferred Share Units Sgro, David Daniel 4 12/02/2018 56 69,741 7,976 Bunker Hill Mining Corp. Common Shares Gemstone 102 Ltd 3 06/12/2017 00 4,000,000 (formerly, Liberty Silver Corp.)

February 22, 2018 (2018), 41 OSCB 1519

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Bunker Hill Mining Corp. Warrants Gemstone 102 Ltd 3 06/12/2017 00 2,000,000 (formerly, Liberty Silver Corp.) BURCON NUTRASCIENCE Common Shares Chau, Rosanna Mei Wah 4, 6 13/02/2018 57 0.57 560,532 111,898 CORPORATION BURCON NUTRASCIENCE Rights (record date: Chau, Rosanna Mei Wah 4, 6 13/02/2018 57 1,042 -447,592 CORPORATION 1/16/2018;expiry:5 pm Toronto time, 2/13/2018) BURCON NUTRASCIENCE Rights (record date: Chau, Rosanna Mei Wah 4, 6 13/02/2018 58 - Expiration 0 -1,042 CORPORATION 1/16/2018;expiry:5 pm of rights Toronto time, 2/13/2018) BURCON NUTRASCIENCE Common Shares Kappel, Peter Henry 4 13/02/2018 97 0.57 108,043 20,000 CORPORATION BURCON NUTRASCIENCE Common Shares Kappel, Peter Henry 4 13/02/2018 54 0.57 125,053 17,010 CORPORATION BURCON NUTRASCIENCE Common Shares Kappel, Peter Henry 4 13/02/2018 57 0.57 10,292 2,058 CORPORATION BURCON NUTRASCIENCE Common Shares Kappel, Peter Henry 4 13/02/2018 57 0.57 31,246 2,249 CORPORATION BURCON NUTRASCIENCE Rights (record date: Kappel, Peter Henry 4 13/02/2018 57 3 -68,040 CORPORATION 1/16/2018;expiry:5 pm Toronto time, 2/13/2018) BURCON NUTRASCIENCE Rights (record date: Kappel, Peter Henry 4 13/02/2018 58 - Expiration 0 -3 CORPORATION 1/16/2018;expiry:5 pm of rights Toronto time, 2/13/2018) BURCON NUTRASCIENCE Rights (record date: Kappel, Peter Henry 4 13/02/2018 57 2 -8,232 CORPORATION 1/16/2018;expiry:5 pm Toronto time, 2/13/2018) BURCON NUTRASCIENCE Rights (record date: Kappel, Peter Henry 4 13/02/2018 58 - Expiration 0 -2 CORPORATION 1/16/2018;expiry:5 pm of rights Toronto time, 2/13/2018) BURCON NUTRASCIENCE Rights (record date: Kappel, Peter Henry 4 13/02/2018 57 1 -8,996 CORPORATION 1/16/2018;expiry:5 pm Toronto time, 2/13/2018) BURCON NUTRASCIENCE Rights (record date: Kappel, Peter Henry 4 13/02/2018 58 - Expiration 0 -1 CORPORATION 1/16/2018;expiry:5 pm of rights Toronto time, 2/13/2018) BURCON NUTRASCIENCE Common Shares Law, Dorothy Kam To 5 13/02/2018 57 0.57 15,000 CORPORATION BURCON NUTRASCIENCE Common Shares Law, Dorothy Kam To 5 13/02/2018 57 0.57 293,502 15,000 CORPORATION BURCON NUTRASCIENCE Rights (record date: Law, Dorothy Kam To 5 12/02/2018 10 0.005 60,639 -32,863 CORPORATION 1/16/2018;expiry:5 pm Toronto time, 2/13/2018) BURCON NUTRASCIENCE Rights (record date: Law, Dorothy Kam To 5 13/02/2018 57 639 -60,000 CORPORATION 1/16/2018;expiry:5 pm Toronto time, 2/13/2018) BURCON NUTRASCIENCE Rights (record date: Law, Dorothy Kam To 5 13/02/2018 58 - Expiration of rights -33,502 CORPORATION 1/16/2018;expiry:5 pm Toronto time, 2/13/2018) BURCON NUTRASCIENCE Rights (record date: Law, Dorothy Kam To 5 13/02/2018 58 - Expiration 0 -639 CORPORATION 1/16/2018;expiry:5 pm of rights Toronto time, 2/13/2018) BURCON NUTRASCIENCE Common Shares PT International 3 13/02/2018 57 0.57 2,641,058 528,211 CORPORATION Development Corporation Limited BURCON NUTRASCIENCE Common Shares PT International 3 13/02/2018 57 0.57 7,225,510 1,445,102 CORPORATION Development Corporation Limited BURCON NUTRASCIENCE Convertible Notes CAD2 PT International 3 12/05/2016 16 $2,000,000 CORPORATION mil.,convertible into Development Corporation common shares at Limited CAD4.01 each BURCON NUTRASCIENCE Convertible Notes CAD2 PT International 3 12/05/2016 16 $2,000,000 CORPORATION mil.,convertible into Development Corporation common shares at Limited CAD4.01 each

February 22, 2018 (2018), 41 OSCB 1520

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed BURCON NUTRASCIENCE Convertible Notes CAD2 PT International 3 12/05/2016 16 $2,000,000 CORPORATION mil.,convertible into Development Corporation common shares at Limited CAD4.01 each BURCON NUTRASCIENCE Convertible Notes CAD2 PT International 3 12/05/2016 16 $2,000,000 CORPORATION mil.,convertible into Development Corporation common shares at Limited CAD4.01 each BURCON NUTRASCIENCE Convertible Notes CAD2 PT International 3 12/05/2016 16 $2,000,000 CORPORATION mil.,convertible into Development Corporation common shares at Limited CAD4.01 each BURCON NUTRASCIENCE Convertible Notes CAD2 PT International 3 12/05/2016 16 $2,000,000 CORPORATION mil.,convertible into Development Corporation common shares at Limited CAD4.01 each BURCON NUTRASCIENCE Convertible Notes CAD2 PT International 3 12/05/2016 16 $2,000,000 CORPORATION mil.,convertible into Development Corporation common shares at Limited CAD4.01 each BURCON NUTRASCIENCE Convertible Notes CAD2 PT International 3 12/05/2016 16 $2,000,000 CORPORATION mil.,convertible into Development Corporation common shares at Limited CAD4.01 each BURCON NUTRASCIENCE Convertible Notes CAD2 PT International 3 12/05/2016 16 $2,000,000 CORPORATION mil.,convertible into Development Corporation common shares at Limited CAD4.01 each BURCON NUTRASCIENCE Convertible Notes CAD2 PT International 3 12/05/2016 16 $2,000,000 CORPORATION mil.,convertible into Development Corporation common shares at Limited CAD4.01 each BURCON NUTRASCIENCE Convertible Notes CAD2 PT International 3 12/05/2016 16 $2,000,000 CORPORATION mil.,convertible into Development Corporation common shares at Limited CAD4.01 each BURCON NUTRASCIENCE Convertible Notes CAD2 PT International 3 12/05/2016 16 $2,000,000 CORPORATION mil.,convertible into Development Corporation common shares at Limited CAD4.01 each BURCON NUTRASCIENCE Convertible Notes CAD2 PT International 3 12/05/2016 16 $2,000,000 CORPORATION mil.,convertible into Development Corporation common shares at Limited CAD4.01 each BURCON NUTRASCIENCE Convertible Notes CAD2 PT International 3 12/05/2016 16 $2,000,000 CORPORATION mil.,convertible into Development Corporation common shares at Limited CAD4.01 each BURCON NUTRASCIENCE Convertible Notes CAD2 PT International 3 12/05/2016 16 $2,000,000 CORPORATION mil.,convertible into Development Corporation common shares at Limited CAD4.01 each BURCON NUTRASCIENCE Convertible Notes CAD2 PT International 3 12/05/2016 16 $2,000,000 CORPORATION mil.,convertible into Development Corporation common shares at Limited CAD4.01 each BURCON NUTRASCIENCE Convertible Notes CAD2 PT International 3 12/05/2016 16 $2,000,000 CORPORATION mil.,convertible into Development Corporation common shares at Limited CAD4.01 each BURCON NUTRASCIENCE Convertible Notes CAD2 PT International 3 12/05/2016 16 $2,000,000 CORPORATION mil.,convertible into Development Corporation common shares at Limited CAD4.01 each BURCON NUTRASCIENCE Convertible Notes CAD2 PT International 3 12/05/2016 16 $2,000,000 CORPORATION mil.,convertible into Development Corporation common shares at Limited CAD4.01 each BURCON NUTRASCIENCE Convertible Notes CAD2 PT International 3 12/05/2016 16 $2,000,000 CORPORATION mil.,convertible into Development Corporation common shares at Limited CAD4.01 each

February 22, 2018 (2018), 41 OSCB 1521

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed BURCON NUTRASCIENCE Convertible Notes CAD2 PT International 3 12/05/2016 16 $2,000,000 CORPORATION mil.,convertible into Development Corporation common shares at Limited CAD4.01 each BURCON NUTRASCIENCE Convertible Notes CAD2 PT International 3 12/05/2016 16 $2,000,000 CORPORATION mil.,convertible into Development Corporation common shares at Limited CAD4.01 each BURCON NUTRASCIENCE Convertible Notes CAD2 PT International 3 12/05/2016 16 $2,000,000 CORPORATION mil.,convertible into Development Corporation common shares at Limited CAD4.01 each BURCON NUTRASCIENCE Convertible Notes CAD2 PT International 3 12/05/2016 16 $2,000,000 CORPORATION mil.,convertible into Development Corporation common shares at Limited CAD4.01 each BURCON NUTRASCIENCE Convertible Notes CAD2 PT International 3 12/05/2016 16 $2,000,000 $2,000,000 CORPORATION mil.,convertible into Development Corporation common shares at Limited CAD4.01 each BURCON NUTRASCIENCE Rights (record date: PT International 3 13/02/2018 57 3 -2,112,844 CORPORATION 1/16/2018;expiry:5 pm Development Corporation Toronto time, 2/13/2018) Limited BURCON NUTRASCIENCE Rights (record date: PT International 3 13/02/2018 58 - Expiration 0 -3 CORPORATION 1/16/2018;expiry:5 pm Development Corporation of rights Toronto time, 2/13/2018) Limited BURCON NUTRASCIENCE Rights (record date: PT International 3 13/02/2018 57 0 -5,780,408 CORPORATION 1/16/2018;expiry:5 pm Development Corporation Toronto time, 2/13/2018) Limited BURCON NUTRASCIENCE Warrants PT International 3 30/11/2016 53 2.58 253,815 CORPORATION Development Corporation Limited BURCON NUTRASCIENCE Warrants PT International 3 30/11/2016 53 2.58 253,815 CORPORATION Development Corporation Limited BURCON NUTRASCIENCE Warrants PT International 3 30/11/2016 53 2.58 253,815 CORPORATION Development Corporation Limited BURCON NUTRASCIENCE Warrants PT International 3 30/11/2016 53 2.58 253,815 CORPORATION Development Corporation Limited BURCON NUTRASCIENCE Warrants PT International 3 30/11/2016 53 2.58 253,815 CORPORATION Development Corporation Limited BURCON NUTRASCIENCE Warrants PT International 3 30/11/2016 53 2.58 253,815 CORPORATION Development Corporation Limited BURCON NUTRASCIENCE Warrants PT International 3 30/11/2016 53 2.58 253,815 CORPORATION Development Corporation Limited BURCON NUTRASCIENCE Warrants PT International 3 30/11/2016 53 2.58 253,815 CORPORATION Development Corporation Limited BURCON NUTRASCIENCE Warrants PT International 3 30/11/2016 53 2.58 253,815 CORPORATION Development Corporation Limited BURCON NUTRASCIENCE Warrants PT International 3 30/11/2016 53 2.58 253,815 CORPORATION Development Corporation Limited BURCON NUTRASCIENCE Warrants PT International 3 30/11/2016 53 2.58 253,815 CORPORATION Development Corporation Limited BURCON NUTRASCIENCE Warrants PT International 3 30/11/2016 53 2.58 253,815 CORPORATION Development Corporation Limited BURCON NUTRASCIENCE Warrants PT International 3 30/11/2016 53 2.58 253,815 CORPORATION Development Corporation Limited BURCON NUTRASCIENCE Warrants PT International 3 30/11/2016 53 2.58 253,815 CORPORATION Development Corporation Limited

February 22, 2018 (2018), 41 OSCB 1522

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed BURCON NUTRASCIENCE Warrants PT International 3 30/11/2016 53 2.58 253,815 CORPORATION Development Corporation Limited BURCON NUTRASCIENCE Warrants PT International 3 30/11/2016 53 2.58 253,815 CORPORATION Development Corporation Limited BURCON NUTRASCIENCE Warrants PT International 3 30/11/2016 53 2.58 253,815 CORPORATION Development Corporation Limited BURCON NUTRASCIENCE Warrants PT International 3 30/11/2016 53 2.58 253,815 CORPORATION Development Corporation Limited BURCON NUTRASCIENCE Warrants PT International 3 30/11/2016 53 2.58 253,815 CORPORATION Development Corporation Limited BURCON NUTRASCIENCE Warrants PT International 3 30/11/2016 53 2.58 253,815 CORPORATION Development Corporation Limited BURCON NUTRASCIENCE Warrants PT International 3 30/11/2016 53 2.58 253,815 CORPORATION Development Corporation Limited BURCON NUTRASCIENCE Warrants PT International 3 30/11/2016 53 2.58 253,815 CORPORATION Development Corporation Limited BURCON NUTRASCIENCE Warrants PT International 3 30/11/2016 53 2.58 253,815 CORPORATION Development Corporation Limited BURCON NUTRASCIENCE Warrants PT International 3 30/11/2016 53 2.58 253,815 CORPORATION Development Corporation Limited BURCON NUTRASCIENCE Warrants PT International 3 30/11/2016 53 2.54 452,244 253,815 CORPORATION Development Corporation Limited BURCON NUTRASCIENCE Common Shares Schweizer, Martin Hans 5 13/02/2018 57 0.57 3,073 614 CORPORATION BURCON NUTRASCIENCE Rights (record date: Schweizer, Martin Hans 5 07/02/2018 10 0.015 72,397 -9,277 CORPORATION 1/16/2018;expiry:5 pm Toronto time, 2/13/2018) BURCON NUTRASCIENCE Rights (record date: Schweizer, Martin Hans 5 07/02/2018 10 0.01 52,397 -20,000 CORPORATION 1/16/2018;expiry:5 pm Toronto time, 2/13/2018) BURCON NUTRASCIENCE Rights (record date: Schweizer, Martin Hans 5 08/02/2018 10 0.015 42,397 -10,000 CORPORATION 1/16/2018;expiry:5 pm Toronto time, 2/13/2018) BURCON NUTRASCIENCE Rights (record date: Schweizer, Martin Hans 5 08/02/2018 10 0.01 0 -42,397 CORPORATION 1/16/2018;expiry:5 pm Toronto time, 2/13/2018) BURCON NUTRASCIENCE Rights (record date: Schweizer, Martin Hans 5 13/02/2018 57 0.57 3 -2,456 CORPORATION 1/16/2018;expiry:5 pm Toronto time, 2/13/2018) BURCON NUTRASCIENCE Rights (record date: Schweizer, Martin Hans 5 13/02/2018 58 - 0.57 0 -3 CORPORATION 1/16/2018;expiry:5 pm Expir Toronto time, 2/13/2018) ation of rights BURCON NUTRASCIENCE Common Shares Tergesen, Johann Franz 4, 5, 2 13/02/2018 57 0.57 128,840 9,008 CORPORATION BURCON NUTRASCIENCE Common Shares Tergesen, Johann Franz 4, 5, 2 13/02/2018 58 - 0.57 21,988 CORPORATION Expir ation of rights BURCON NUTRASCIENCE Common Shares Tergesen, Johann Franz 4, 5, 2 13/02/2018 57 0.57 109,941 21,988 CORPORATION BURCON NUTRASCIENCE Common Shares Tergesen, Johann Franz 4, 5, 2 13/02/2018 58 - 0.57 201,343 CORPORATION Expir ation of rights BURCON NUTRASCIENCE Common Shares Tergesen, Johann Franz 4, 5, 2 13/02/2018 57 0.57 382,419 201,343 CORPORATION

February 22, 2018 (2018), 41 OSCB 1523

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed BURCON NUTRASCIENCE Options willardsen, randy 5 16/12/2016 50 342,659 48,858 CORPORATION BURCON NUTRASCIENCE Rights (record date: willardsen, randy 5 09/02/2018 10 0 -382,008 CORPORATION 1/16/2018;expiry:5 pm Toronto time, 2/13/2018) BURCON NUTRASCIENCE Rights (record date: Yap, Allan 4, 5 13/02/2018 58 - Expiration 0 -1,566,719 CORPORATION 1/16/2018;expiry:5 pm of rights Toronto time, 2/13/2018) BURCON NUTRASCIENCE Warrants Yap, Allan 4, 5 30/11/2016 53 243,862 CORPORATION BURCON NUTRASCIENCE Warrants Yap, Allan 4, 5 30/11/2016 53 243,862 CORPORATION BURCON NUTRASCIENCE Warrants Yap, Allan 4, 5 30/11/2016 53 243,862 243,862 CORPORATION BURCON NUTRASCIENCE Warrants Yap, Allan 4, 5 14/02/2018 53 1,182,099 CORPORATION BURCON NUTRASCIENCE Warrants Yap, Allan 4, 5 14/02/2018 53 1,425,961 1,182,099 CORPORATION C-COM Satellite Systems Common Shares Klein, Leslie 3, 4, 5 15/02/2018 97 0 -1,016,833 Inc. C-COM Satellite Systems Common Shares Klein, Leslie 3, 4, 5 15/02/2018 97 14,207,396 1,016,833 Inc. Cameco Corporation Common Shares Girard, Rachelle Spring 5 15/02/2018 00 7,392 Cameco Corporation Options Girard, Rachelle Spring 5 15/02/2018 00 12,500 Cameco Corporation Rights Restricted Share Girard, Rachelle Spring 5 15/02/2018 00 2,667 Units Cameco Corporation Common Shares Huntington, Jonathan 5 15/02/2018 00 1,095 Cameco Corporation Options Huntington, Jonathan 5 15/02/2018 00 1,500 Cameco Corporation Rights Restricted Share Huntington, Jonathan 5 15/02/2018 00 2,534 Units Canaccord Genuity Group Rights Deferred Share Bralver, Charles Norman 4 14/02/2018 56 4.7866 56,983 1,173 Inc. Units (DSUs) Canaccord Genuity Group Rights Deferred Share Carello, Massimo 4 14/02/2018 56 4.7866 45,688 908 Inc. Units (DSUs) Canaccord Genuity Group Rights Deferred Share Desai, Kalpana 4 14/02/2018 56 4.7866 32,208 592 Inc. Units (DSUs) Canaccord Genuity Group Common Shares Esfandi, David 7 08/02/2018 57 15,085 2,254 Inc. Canaccord Genuity Group Common Shares Esfandi, David 7 08/02/2018 10 5.7843 14,009 -1,076 Inc. Canaccord Genuity Group Rights Restricted Share Esfandi, David 7 08/02/2018 57 414,462 -2,254 Inc. Units Canaccord Genuity Group Common Shares Ghose, Dvaipayan 7 13/02/2018 10 6.3 534,254 -10,000 Inc. Canaccord Genuity Group Common Shares Ghose, Dvaipayan 7 14/02/2018 10 6.4 524,254 -10,000 Inc. Canaccord Genuity Group Rights Deferred Share Harris, Michael Deane 4 14/02/2018 56 4.7866 126,002 2,596 Inc. Units (DSUs) Canaccord Genuity Group Rights Deferred Share Lyons, Terrence 4 14/02/2018 56 4.7866 67,559 1,393 Inc. Units (DSUs) Canaccord Genuity Group Rights Deferred Share Shah, Dipesh Jayantilal 4 14/02/2018 56 4.7866 45,573 906 Inc. Units (DSUs) Canada Goose Holdings Inc. Options Baker, Carrie 5 09/02/2018 51 0.019 140,891 -45,000 Canada Goose Holdings Inc. Subordinate Voting Baker, Carrie 5 09/02/2018 51 0.019 45,000 45,000 Shares Canada Goose Holdings Inc. Subordinate Voting Baker, Carrie 5 09/02/2018 10 41.209 0 -45,000 Shares Canada Goose Holdings Inc. Options Black, John 5 12/02/2018 51 0.019 513,690 -30,000 Canada Goose Holdings Inc. Options Black, John 5 13/02/2018 51 0.019 483,690 -30,000 Canada Goose Holdings Inc. Options Black, John 5 13/02/2018 51 0.019 445,094 -38,596 Canada Goose Holdings Inc. Subordinate Voting Black, John 5 12/02/2018 51 0.019 30,000 30,000 Shares Canada Goose Holdings Inc. Subordinate Voting Black, John 5 12/02/2018 10 38.74 0 -30,000 Shares Canada Goose Holdings Inc. Subordinate Voting Black, John 5 13/02/2018 51 0.019 30,000 30,000 Shares

February 22, 2018 (2018), 41 OSCB 1524

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Canada Goose Holdings Inc. Subordinate Voting Black, John 5 13/02/2018 10 39.843 0 -30,000 Shares Canada Goose Holdings Inc. Subordinate Voting Black, John 5 13/02/2018 51 0.019 38,596 38,596 Shares Canada Goose Holdings Inc. Subordinate Voting Black, John 5 13/02/2018 10 39.885 0 -38,596 Shares Canada Goose Holdings Inc. Options Cameron, Scott 5 14/02/2018 51 4.616 384,889 -59,213 Canada Goose Holdings Inc. Subordinate Voting Cameron, Scott 5 15/03/2017 00 Shares Canada Goose Holdings Inc. Subordinate Voting Cameron, Scott 5 14/02/2018 51 4.616 59,213 59,213 Shares Canada Goose Holdings Inc. Subordinate Voting Cameron, Scott 5 14/02/2018 10 42.156 0 -59,213 Shares Canada Goose Holdings Inc. Options Forrest, David Martin 5 09/02/2018 51 1.7879 81,482 -14,814 Canada Goose Holdings Inc. Subordinate Voting Forrest, David Martin 5 09/02/2018 51 1.7879 14,814 14,814 Shares Canada Goose Holdings Inc. Subordinate Voting Forrest, David Martin 5 09/02/2018 10 40.872 0 -14,814 Shares Canada Goose Holdings Inc. Options Moran, John 5 14/02/2018 51 1.7879 136,296 -40,000 Canada Goose Holdings Inc. Subordinate Voting Moran, John 5 14/02/2018 51 1.7879 40,000 40,000 Shares Canada Goose Holdings Inc. Subordinate Voting Moran, John 5 14/02/2018 10 42.038 0 -40,000 Shares Canada Goose Holdings Inc. Options Orr, Spencer 5 08/02/2018 51 0.019 365,206 -31,955 Canada Goose Holdings Inc. Options Orr, Spencer 5 13/02/2018 51 0.019 333,250 -31,956 Canada Goose Holdings Inc. Subordinate Voting Orr, Spencer 5 08/02/2018 51 0.019 31,955 31,955 Shares Canada Goose Holdings Inc. Subordinate Voting Orr, Spencer 5 08/02/2018 10 40.852 0 -31,955 Shares Canada Goose Holdings Inc. Subordinate Voting Orr, Spencer 5 13/02/2018 51 0.019 31,956 31,956 Shares Canada Goose Holdings Inc. Subordinate Voting Orr, Spencer 5 13/02/2018 10 39.844 0 -31,956 Shares Canadian Metals Inc. Common Shares Monet, Pierre 5 01/02/2018 00 300,000 Canadian Metals Inc. Options Monet, Pierre 5 01/02/2018 00 Canadian Metals Inc. Options Monet, Pierre 5 05/02/2018 50 300,000 300,000 Canadian Metals Inc. Warrants Monet, Pierre 5 01/02/2018 00 300,000 Canadian Tire Corporation, Non-Voting Shares Class Canadian Tire Corporation, 1 12/02/2018 38 162.15 15,000 15,000 Limited A Limited Canadian Tire Corporation, Non-Voting Shares Class Canadian Tire Corporation, 1 12/02/2018 38 0 -15,000 Limited A Limited Canadian Tire Corporation, Non-Voting Shares Class Canadian Tire Corporation, 1 13/02/2018 38 161.81 15,000 15,000 Limited A Limited Canadian Tire Corporation, Non-Voting Shares Class Canadian Tire Corporation, 1 13/02/2018 38 0 -15,000 Limited A Limited Canadian Tire Corporation, Non-Voting Shares Class Canadian Tire Corporation, 1 14/02/2018 38 163.66 15,000 15,000 Limited A Limited Canadian Tire Corporation, Non-Voting Shares Class Canadian Tire Corporation, 1 14/02/2018 38 0 -15,000 Limited A Limited Canadian Tire Corporation, Non-Voting Shares Class Canadian Tire Corporation, 1 15/02/2018 38 172.85 15,000 15,000 Limited A Limited Canadian Tire Corporation, Non-Voting Shares Class Canadian Tire Corporation, 1 15/02/2018 38 0 -15,000 Limited A Limited Cannabis Wheaton Income Common Shares Rifici, Charles 4, 6, 5 09/02/2018 54 1.5 4,230,000 3,640,000 Corp. Cannabis Wheaton Income Warrants Rifici, Charles 4, 6, 5 09/02/2018 54 0 -3,640,000 Corp. CanniMed Therapeutics Inc. Common Shares Fowler, Allan McLay 5 07/09/2017 00 CanniMed Therapeutics Inc. Common Shares Fowler, Allan McLay 5 08/02/2018 51 9.64 31,777 31,777 CanniMed Therapeutics Inc. Common Shares Fowler, Allan McLay 5 08/02/2018 10 31.81 0 -31,777 CanniMed Therapeutics Inc. Options Fowler, Allan McLay 5 08/02/2018 51 9.64 50,000 -50,000 Canoe EIT Income Fund Trust Units Canoe EIT Income Fund 1 15/02/2018 38 11,857,809 -640,424 Captiva Verde Land Corp. Common Shares boyd, john michael 4 14/02/2018 00 Captiva Verde Land Corp. Common Shares boyd, john michael 4 14/02/2018 15 355,000 355,000 Captiva Verde Land Corp. Common Shares Kostecki, Orest 4 26/04/2017 00 349,500

February 22, 2018 (2018), 41 OSCB 1525

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Captiva Verde Land Corp. Common Shares Kostecki, Orest 4 26/04/2017 00 234,500 Captiva Verde Land Corp. Common Shares Kostecki, Orest 4 26/04/2017 00 902,300 Captiva Verde Land Corp. Common Shares Taylor, James Gordon 4 26/04/2017 00 600,000 Cascadero Copper Common Shares HARDER, JUDITH 5 13/02/2018 10 2,305,870 -300,000 Corporation LORRAINE BAILLIE Cava Resources Inc. Common Shares Murray, Robert Brian 4 12/02/2018 10 0.27 754,230 -40,000 Cava Resources Inc. Common Shares Stecyk, Brian Morris 4 12/03/2001 22 0.27 200,000 150,000 Centerra Gold Inc. Rights Restricted Share Connor, Richard Webster 4 14/02/2018 59 6.37 0 -4,167 Units Centerra Gold Inc. Common Shares Pressler, Sheryl 4 14/02/2018 57 6.37 37,601 1,041 Centerra Gold Inc. Rights Restricted Share Pressler, Sheryl 4 14/02/2018 59 6.37 1,041 -3,126 Units Centerra Gold Inc. Rights Restricted Share Pressler, Sheryl 4 14/02/2018 57 6.37 0 -1,041 Units Cervus Equipment Common Shares Deferred Drake, Graham 4 15/01/2018 30 14.95 35,972 171 Corporation Shares CGI Group Inc. Subordinate Voting Boulanger, François 5 31/12/2017 30 65.357 11,002 676 Shares Classe A CGI Group Inc. Subordinate Voting Boyajian, Mark 5 31/12/2017 30 65.325 31 16 Shares Classe A CGI Group Inc. Subordinate Voting Boyajian, Mark 5 31/12/2017 30 65.352 1,204 651 Shares Classe A CGI Group Inc. Subordinate Voting Dube, Benoit 5 31/12/2017 30 65.355 1,781 275 Shares Classe A CGI Group Inc. Subordinate Voting Dube, Benoit 5 31/12/2017 30 65.337 5,658 274 Shares Classe A CGI Group Inc. Subordinate Voting Godin, Julie 4 31/12/2017 30 65.005 3,658 420 Shares Classe A CGI Group Inc. Subordinate Voting Godin, Serge 3, 4 31/12/2017 30 65.325 6,521 1,530 Shares Classe A CGI Group Inc. Subordinate Voting Gorber, Lorne Shawn 5 31/12/2017 30 65.349 747 405 Shares Classe A CGI Group Inc. Subordinate Voting Henderson, Dave 5 31/12/2017 30 50.283 8,802 734 Shares Classe A CGI Group Inc. Subordinate Voting Hurlebaus, Timothy 5 01/10/2017 00 Shares Classe A CGI Group Inc. Subordinate Voting Hurlebaus, Timothy 5 01/10/2017 00 Shares Classe A CGI Group Inc. Subordinate Voting Hurlebaus, Timothy 5 01/10/2017 00 7,940 Shares Classe A CGI Group Inc. Subordinate Voting Hurlebaus, Timothy 5 31/12/2017 30 53.443 8,113 173 Shares Classe A CGI Group Inc. Subordinate Voting Imbeau, André 3, 4, 5 31/12/2017 30 65.324 28,899 389 Shares Classe A CGI Group Inc. Subordinate Voting Keating, Michael John 5 31/12/2017 30 52.061 5,198 296 Shares Classe A CGI Group Inc. Options Vigeant, Guy 5 14/02/2018 51 15.49 106,000 -5,000 CGI Group Inc. Subordinate Voting Vigeant, Guy 5 14/02/2018 51 15.49 5,000 5,000 Shares Classe A CGI Group Inc. Subordinate Voting Vigeant, Guy 5 14/02/2018 10 72.5 0 -5,000 Shares Classe A CGI Group Inc. Options Westh, Joakim 4 13/02/2018 51 27.28 3,095 -953 CGI Group Inc. Options Westh, Joakim 4 13/02/2018 51 36.15 1,875 -1,220 CGI Group Inc. Options Westh, Joakim 4 13/02/2018 51 37.82 625 -1,250 CGI Group Inc. Subordinate Voting Westh, Joakim 4 13/02/2018 51 27.28 5,660 953 Shares Classe A CGI Group Inc. Subordinate Voting Westh, Joakim 4 13/02/2018 51 36.15 6,880 1,220 Shares Classe A CGI Group Inc. Subordinate Voting Westh, Joakim 4 13/02/2018 51 37.82 8,130 1,250 Shares Classe A Chemtrade Logistics Income Trust Units Bhardwaj, Rohit 5 16/02/2018 10 16.91 3,000 2,200 Fund Chemtrade Logistics Income Trust Units Davis, Mark 5 16/02/2018 10 16.939 24,400 5,000 Fund Chemtrade Logistics Income Rights Deferred Trust Di Clemente, Lucio 4 31/01/2018 56 18.18 516 Fund Units

February 22, 2018 (2018), 41 OSCB 1526

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Chemtrade Logistics Income Rights Deferred Trust Di Clemente, Lucio 4 31/01/2018 56 17.5 26,567 536 Fund Units Chemtrade Logistics Income Rights Deferred Trust Gee, David 4 31/01/2018 56 18.18 516 Fund Units Chemtrade Logistics Income Rights Deferred Trust Gee, David 4 31/01/2018 56 17.5 57,168 536 Fund Units Chemtrade Logistics Income Rights Deferred Trust McArthur, Susan J. 4 31/01/2018 56 18.18 1,289 Fund Units Chemtrade Logistics Income Rights Deferred Trust McArthur, Susan J. 4 31/01/2018 56 17.5 23,945 1,340 Fund Units Chemtrade Logistics Income Trust Units Pare, Susan 5 16/02/2018 10 16.95 14,815 400 Fund Chemtrade Logistics Income Trust Units Pare, Susan 5 16/02/2018 10 16.75 15,115 300 Fund Chemtrade Logistics Income Trust Units Pare, Susan 5 16/02/2018 10 16.85 15,415 300 Fund Chemtrade Logistics Income Rights Deferred Trust Rethy, Katherine Anne 4 31/01/2018 56 18.18 688 Fund Units Chemtrade Logistics Income Rights Deferred Trust Rethy, Katherine Anne 4 31/01/2018 56 17.5 13,811 714 Fund Units Chemtrade Logistics Income Rights Deferred Trust Waisberg, Lorie 4 31/01/2018 56 18.18 1,031 Fund Units Chemtrade Logistics Income Rights Deferred Trust Waisberg, Lorie 4 31/01/2018 56 17.5 48,174 1,072 Fund Units CIBT Education Group Inc. Common Shares Weir, Shane 4 09/02/2018 10 0.73 661,400 1,500 CIBT Education Group Inc. Common Shares Weir, Shane 4 12/02/2018 10 0.73 663,400 2,000 CIBT Education Group Inc. Common Shares Weir, Shane 4 13/02/2018 10 0.73 666,900 3,500 CIBT Education Group Inc. Common Shares Weir, Shane 4 14/02/2018 10 0.73 671,900 5,000 Cineplex Inc. Performance Share Units Briant, Heather 5 31/12/2016 30 158 Cineplex Inc. Performance Share Units Briant, Heather 5 31/12/2016 30 275 Cineplex Inc. Performance Share Units Briant, Heather 5 31/12/2016 30 8,256 158 Cineplex Inc. Performance Share Units Fitzgerald, Anne Tunstall 5 31/12/2016 30 164 Cineplex Inc. Performance Share Units Fitzgerald, Anne Tunstall 5 31/12/2016 30 289 Cineplex Inc. Performance Share Units Fitzgerald, Anne Tunstall 5 31/12/2016 30 8,693 164 Cineplex Inc. Performance Share Units Jacob, Ellis 4, 5 31/12/2016 30 2,363 Cineplex Inc. Performance Share Units Jacob, Ellis 4, 5 31/12/2016 30 4,316 Cineplex Inc. Performance Share Units Jacob, Ellis 4, 5 31/12/2016 30 134,023 2,363 Cineplex Inc. Performance Share Units Kennedy, Michael 5 31/12/2016 30 252 Cineplex Inc. Performance Share Units Kennedy, Michael 5 31/12/2016 30 462 Cineplex Inc. Performance Share Units Kennedy, Michael 5 31/12/2016 30 13,824 252 Cineplex Inc. Performance Share Units Kent, Jeff 5 31/12/2016 30 245 Cineplex Inc. Performance Share Units Kent, Jeff 5 31/12/2016 30 447 Cineplex Inc. Performance Share Units Kent, Jeff 5 31/12/2016 30 13,398 245 Cineplex Inc. Performance Share Units Legault, Lorraine Marie 5 31/12/2016 30 76 Cineplex Inc. Performance Share Units Legault, Lorraine Marie 5 31/12/2016 30 121 Cineplex Inc. Performance Share Units Legault, Lorraine Marie 5 31/12/2016 30 3,649 76 Cineplex Inc. Performance Share Units Mandryk, Suzanna 5 31/12/2016 30 140 Cineplex Inc. Performance Share Units Mandryk, Suzanna 5 31/12/2016 30 257 Cineplex Inc. Performance Share Units Mandryk, Suzanna 5 31/12/2016 30 7,717 140 Cineplex Inc. Performance Share Units McGrath, Daniel F. 5 31/12/2016 30 652 Cineplex Inc. Performance Share Units McGrath, Daniel F. 5 31/12/2016 30 1,158 Cineplex Inc. Performance Share Units McGrath, Daniel F. 5 31/12/2016 30 35,059 652 Cineplex Inc. Performance Share Units Nelson, Gordon 5 31/12/2016 30 428 Cineplex Inc. Performance Share Units Nelson, Gordon 5 31/12/2016 30 760 Cineplex Inc. Performance Share Units Nelson, Gordon 5 31/12/2016 30 22,969 428 Cineplex Inc. Performance Share Units Nonis, Paul 5 31/12/2016 30 141 Cineplex Inc. Performance Share Units Nonis, Paul 5 31/12/2016 30 257 Cineplex Inc. Performance Share Units Nonis, Paul 5 31/12/2016 30 7,731 141 Cineplex Inc. Performance Share Units Sautter, George 5 31/12/2016 30 135 Cineplex Inc. Performance Share Units Sautter, George 5 31/12/2016 30 244 Cineplex Inc. Performance Share Units Sautter, George 5 31/12/2016 30 7,315 135

February 22, 2018 (2018), 41 OSCB 1527

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Cineplex Inc. Performance Share Units Stanghieri, Fabrizio 5 31/12/2016 30 140 Cineplex Inc. Performance Share Units Stanghieri, Fabrizio 5 31/12/2016 30 245 Cineplex Inc. Performance Share Units Stanghieri, Fabrizio 5 31/12/2016 30 7,386 140 Cineplex Inc. Common Shares Watts, Kevin David 5 07/02/2018 00 216 Cineplex Inc. Options Watts, Kevin David 5 07/02/2018 00 13,107 Cineplex Inc. Performance Share Units Watts, Kevin David 5 07/02/2018 00 3,408 Clarocity Corporation Warrants StableView Asset 3 14/02/2018 16 38,283,362 900,000 (formerly, Zaio Corporation) Management CMX Gold & Silver Corp. Common Shares Clements, John David 4 12/02/2018 11 0.095 0 -200,000 CMX Gold & Silver Corp. Common Shares Clements, John David 4 29/09/2014 00 CMX Gold & Silver Corp. Common Shares Clements, John David 4 12/02/2018 11 0.095 100,000 100,000 CMX Gold & Silver Corp. Common Shares Clements, John David 4 29/09/2014 00 CMX Gold & Silver Corp. Common Shares Clements, John David 4 12/02/2018 11 0.095 100,000 100,000 Cogeco Communications Inc. Subordinate Voting Royer, Jacques 7 14/02/2018 10 72.83 643 -143 Shares actions subalternes à droit de vote Cogeco Communications Inc. Subordinate Voting Royer, Jacques 7 14/02/2018 10 72.84 543 -100 Shares actions subalternes à droit de vote COLLIERS Options Cohen, Peter F. 4 16/02/2018 50 67.3 32,500 7,500 INTERNATIONAL GROUP INC. COLLIERS Options Curtin, John 4 16/02/2018 50 67.3 32,500 7,500 INTERNATIONAL GROUP INC. COLLIERS Options Finley, Rebecca 5 08/01/2018 00 INTERNATIONAL GROUP INC. COLLIERS Options Finley, Rebecca 5 16/02/2018 50 67.3 25,000 25,000 INTERNATIONAL GROUP INC. COLLIERS Subordinate Voting Finley, Rebecca 5 08/01/2018 00 INTERNATIONAL GROUP Shares INC. COLLIERS Options Friedrichsen, John 5 16/02/2018 50 67.3 249,000 50,000 INTERNATIONAL GROUP INC. COLLIERS Options Harper, Stephen Joseph 4 16/02/2018 50 67.3 22,500 7,500 INTERNATIONAL GROUP INC. COLLIERS Options Harris, Michael Deane 4 16/02/2018 50 67.3 32,500 7,500 INTERNATIONAL GROUP INC. COLLIERS Options Hawkins, Matthew 5 16/02/2018 50 67.3 65,000 20,000 INTERNATIONAL GROUP INC. COLLIERS Options Hemming, Robert 7 16/02/2018 50 67.3 120,000 30,000 INTERNATIONAL GROUP INC. COLLIERS Options Lee, Katherine M 4 16/02/2018 50 67.3 27,500 7,500 INTERNATIONAL GROUP INC. COLLIERS Options Mayer, Christian 5 16/02/2018 50 67.3 130,000 25,000 INTERNATIONAL GROUP INC. COLLIERS Subordinate Voting McLernon, C.R. 2 16/02/2018 10 65.73 112,664 -4,950 INTERNATIONAL GROUP Shares INC. COLLIERS Options Michaud, Zachary 5 16/02/2018 50 67.3 100,000 30,000 INTERNATIONAL GROUP INC. COLLIERS Options Mulamoottil, Elias 5 16/02/2018 50 67.3 217,000 40,000 INTERNATIONAL GROUP INC. COLLIERS Options Stein, Benjamin Forester 4 16/02/2018 50 67.3 17,500 7,500 INTERNATIONAL GROUP INC.

February 22, 2018 (2018), 41 OSCB 1528

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed COLLIERS Options Sutherland, Lewis Frederick 4 16/02/2018 50 67.3 27,500 7,500 INTERNATIONAL GROUP INC. COLLIERS Options Taylor, Dylan 7 16/02/2018 50 67.3 270,000 70,000 INTERNATIONAL GROUP INC. Columbus Gold Corp. Options Ball, Russell David 4 19/01/2018 00 Columbus Gold Corp. Options Ball, Russell David 4 16/02/2018 50 1,000,000 1,000,000 Columbus Gold Corp. Options Beil, Charles Warren 5 19/01/2018 00 Columbus Gold Corp. Options Beil, Charles Warren 5 16/02/2018 50 200,000 200,000 Columbus Gold Corp. Options Berard, Marie-Helene 4 16/02/2018 50 1,100,000 500,000 Columbus Gold Corp. Options Gianulis, Peter Lawrence 4 16/02/2018 50 600,000 600,000 Columbus Gold Corp. Options Giustra, Robert 4, 5 16/02/2018 50 1,250,000 1,250,000 Columbus Gold Corp. Options Lefrançois, Rock 5 16/02/2018 50 600,000 600,000 Columbus Gold Corp. Options Martinez, Jorge 5 16/02/2018 50 250,000 250,000 Columbus Gold Corp. Options Monaghan, Blaine Anthony 5 16/02/2018 50 300,000 50,000 Columbus Gold Corp. Options Yau, Andrew Ka Shing 5 16/02/2018 50 300,000 300,000 Cominar Real Estate Trust Units Bell, Mary-Ann 4 21/04/2017 35 14.03 15,130 130 Investment Trust Cominar Real Estate Trust Units Bell, Mary-Ann 4 19/05/2017 35 13.76 15,263 133 Investment Trust Cominar Real Estate Trust Units Bell, Mary-Ann 4 21/06/2017 35 12.7 15,409 146 Investment Trust Cominar Real Estate Trust Units Bell, Mary-Ann 4 21/07/2017 35 12.54 15,558 149 Investment Trust Cominar Real Estate Trust Units Bell, Mary-Ann 4 18/08/2017 35 12.43 15,711 153 Investment Trust Cominar Real Estate Contrat à terme Dallaire, Alain 5 09/02/2018 97 0 -1 Investment Trust Cominar Real Estate Contrat à terme - 2012 Dallaire, Alain 5 09/02/2018 97 0 -1 Investment Trust Cominar Real Estate Trust Units Dallaire, Alain 5 09/02/2018 97 0 -8,277,175 Investment Trust Condor Petroleum Inc. Common Shares Disbrow, Robert 3 09/02/2018 10 0.6325 2,274,000 16,000 Condor Petroleum Inc. Common Shares Disbrow, Robert 3 12/02/2018 10 0.62 2,310,000 36,000 Condor Petroleum Inc. Common Shares Disbrow, Robert 3 13/02/2018 10 0.62 2,335,000 25,000 Condor Petroleum Inc. Common Shares Disbrow, Robert 3 15/02/2018 10 0.62 2,354,000 19,000 Constantine Metal Common Shares Tognetti, John 3 15/02/2018 10 0.1684 16,886,500 18,000 Resources Ltd. COPPER REEF MINING Common Shares Masson, Stephen Leo 3 15/02/2018 10 0.025 2,112,816 30,000 CORPORATION COPPER REEF MINING Common Shares Masson, Stephen Leo 3 15/02/2018 10 0.025 10,064,865 30,000 CORPORATION Corby Spirit and Wine Common Shares Class A Cote, Stephane 5 03/11/2017 30 21.81 7,084 118 Limited (formerly Corby Distilleries Limited) Corby Spirit and Wine Common Shares Class A Cote, Stephane 5 17/11/2017 30 22.35 7,199 115 Limited (formerly Corby Distilleries Limited) Corby Spirit and Wine Common Shares Class A Cote, Stephane 5 11/12/2017 35 21.603 7,272 73 Limited (formerly Corby Distilleries Limited) Corby Spirit and Wine Common Shares Class A Cote, Stephane 5 29/12/2017 30 22.243 7,446 174 Limited (formerly Corby Distilleries Limited) Corby Spirit and Wine Common Shares Class A Cote, Stephane 5 31/01/2018 30 22.397 7,561 115 Limited (formerly Corby Distilleries Limited) Corby Spirit and Wine Common Shares Class A Llewellyn, Robert 4 11/12/2017 35 21.6 3,044 26 Limited (formerly Corby Distilleries Limited) Corby Spirit and Wine Common Shares Class A Llewellyn, Robert 4 29/12/2017 30 22.243 3,206 162 Limited (formerly Corby Distilleries Limited)

February 22, 2018 (2018), 41 OSCB 1529

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Corby Spirit and Wine Common Shares Class A Lussier, Donald Vincent 4 11/12/2017 35 21.603 4,561 46 Limited (formerly Corby Distilleries Limited) Corby Spirit and Wine Common Shares Class A Lussier, Donald Vincent 4 29/12/2017 30 22.243 4,723 162 Limited (formerly Corby Distilleries Limited) Corby Spirit and Wine Common Shares Class A McCarthy, George 4 11/12/2017 35 21.603 22,950 196 Limited (formerly Corby Distilleries Limited) Corby Spirit and Wine Common Shares Class A McCarthy, George 4 29/12/2017 30 22.243 23,191 241 Limited (formerly Corby Distilleries Limited) Corby Spirit and Wine Common Shares Class A Nielsen, Patricia 4 11/12/2017 35 21.603 21,461 179 Limited (formerly Corby Distilleries Limited) Corby Spirit and Wine Common Shares Class A Nielsen, Patricia 4 29/12/2017 30 22.243 21,623 162 Limited (formerly Corby Distilleries Limited) Corby Spirit and Wine Common Shares Class A O'Driscoll, Roland Patrick 4, 5 03/11/2017 30 21.81 14,443 111 Limited (formerly Corby Distilleries Limited) Corby Spirit and Wine Common Shares Class A O'Driscoll, Roland Patrick 4, 5 17/11/2017 30 22.35 14,551 108 Limited (formerly Corby Distilleries Limited) Corby Spirit and Wine Common Shares Class A O'Driscoll, Roland Patrick 4, 5 11/12/2017 35 21.603 14,699 148 Limited (formerly Corby Distilleries Limited) Corby Spirit and Wine Common Shares Class A O'Driscoll, Roland Patrick 4, 5 29/12/2017 30 22.243 14,862 163 Limited (formerly Corby Distilleries Limited) Corby Spirit and Wine Common Shares Class A O'Driscoll, Roland Patrick 4, 5 31/01/2018 30 22.397 14,970 108 Limited (formerly Corby Distilleries Limited) Corby Spirit and Wine Common Shares Class A Sanchez Villarreal, Antonio 4, 5 03/11/2017 30 21.81 2,225 90 Limited (formerly Corby Distilleries Limited) Corby Spirit and Wine Common Shares Class A Sanchez Villarreal, Antonio 4, 5 17/11/2017 30 22.35 2,311 86 Limited (formerly Corby Distilleries Limited) Corby Spirit and Wine Common Shares Class A Sanchez Villarreal, Antonio 4, 5 11/12/2017 35 21.603 2,334 23 Limited (formerly Corby Distilleries Limited) Corby Spirit and Wine Common Shares Class A Sanchez Villarreal, Antonio 4, 5 29/12/2017 30 22.243 2,464 130 Limited (formerly Corby Distilleries Limited) Corby Spirit and Wine Common Shares Class A Sanchez Villarreal, Antonio 4, 5 31/01/2018 30 22.397 2,550 86 Limited (formerly Corby Distilleries Limited) Corby Spirit and Wine Common Shares Class A Valencia, Marc Andrew 5 03/11/2017 30 21.81 25,010 145 Limited (formerly Corby Distilleries Limited) Corby Spirit and Wine Common Shares Class A Valencia, Marc Andrew 5 17/11/2017 30 22.35 25,152 142 Limited (formerly Corby Distilleries Limited) Corby Spirit and Wine Common Shares Class A Valencia, Marc Andrew 5 11/12/2017 35 21.603 25,408 256 Limited (formerly Corby Distilleries Limited) Corby Spirit and Wine Common Shares Class A Valencia, Marc Andrew 5 29/12/2017 30 22.243 25,622 214 Limited (formerly Corby Distilleries Limited) Corby Spirit and Wine Common Shares Class A Valencia, Marc Andrew 5 31/01/2018 30 22.397 25,764 142 Limited (formerly Corby Distilleries Limited) Core Gold Inc. (formerly Common Shares Washer, Robert 3 15/02/2018 10 0.29 7,688,284 -40,000 Dynasty Metals & Mining Inc.) Coronado Resources Ltd. Common Shares Guidi, Alex P. 3 09/02/2018 10 0.8 520,213 3,000 Corridor Resources Inc. Common Shares Moran, Stephen John 5 17/01/2018 30 0.5429 291,026 52,240 Corridor Resources Inc. Common Shares Moran, Stephen John 5 17/01/2018 30 0.7687 327,886 36,860 Cott Corporation Common Shares Ausher, Jason 5 14/02/2018 57 15.48 19,458 3,765

February 22, 2018 (2018), 41 OSCB 1530

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Cott Corporation Performance Share Units Ausher, Jason 5 14/02/2018 56 3,243 Cott Corporation Performance Share Units Ausher, Jason 5 14/02/2018 56 18,257 3,243 Cott Corporation Performance Share Units Ausher, Jason 5 14/02/2018 57 15.48 14,492 -3,765 Cott Corporation Performance Share Units Ausher, Jason 5 14/02/2018 38 11,771 -2,721 Cott Corporation Common Shares Fowden, Jeremy Stephen 5 14/02/2018 57 15.48 872,687 112,961 Gary Cott Corporation Performance Share Units Fowden, Jeremy Stephen 5 14/02/2018 56 526,450 97,297 Gary Cott Corporation Performance Share Units Fowden, Jeremy Stephen 5 14/02/2018 57 15.48 413,489 -112,961 Gary Cott Corporation Performance Share Units Fowden, Jeremy Stephen 5 14/02/2018 38 331,856 -81,633 Gary Cott Corporation Common Shares Poe, Marni Morgan 5 14/02/2018 57 15.48 132,223 20,004 Cott Corporation Performance Share Units Poe, Marni Morgan 5 14/02/2018 56 93,935 17,230 Cott Corporation Performance Share Units Poe, Marni Morgan 5 14/02/2018 57 15.48 73,931 -20,004 Cott Corporation Performance Share Units Poe, Marni Morgan 5 14/02/2018 36 15.48 59,475 -14,456 Cott Corporation Common Shares Wells, Jay 5 14/02/2018 57 15.48 104,760 25,416 Cott Corporation Performance Share Units Wells, Jay 5 14/02/2018 56 142,919 21,892 Cott Corporation Performance Share Units Wells, Jay 5 14/02/2018 57 15.48 117,503 -25,416 Cott Corporation Performance Share Units Wells, Jay 5 14/02/2018 38 15.48 99,135 -18,368 Crescita Therapeutics Inc. Common Shares DaRocha, Jose 4, 5 07/11/2017 00 Crescita Therapeutics Inc. Common Shares DaRocha, Jose 4, 5 22/01/2018 10 0.71 1,000 1,000 Crombie Real Estate Trust Units Special Voting Empire Company Limited 3 15/02/2018 30 12.582 61,758,111 51,218 Investment Trust Cronos Group Inc. Options Rudyk, James Daniel 4 31/01/2018 00 150,000 Crosswinds Holdings Inc. Common Shares Crosswinds Holdings Inc. 1 18/01/2018 38 1.74 2,000 (formerly C.A. Bancorp Inc.) (formerly C.A. Bancorp Inc.) Crosswinds Holdings Inc. Common Shares Crosswinds Holdings Inc. 1 18/01/2018 38 1.74 2,000 (formerly C.A. Bancorp Inc.) (formerly C.A. Bancorp Inc.) Crosswinds Holdings Inc. Common Shares Crosswinds Holdings Inc. 1 18/01/2018 38 1.74 -2,000 (formerly C.A. Bancorp Inc.) (formerly C.A. Bancorp Inc.) Crosswinds Holdings Inc. Common Shares Crosswinds Holdings Inc. 1 18/01/2018 38 1.74 -2,000 (formerly C.A. Bancorp Inc.) (formerly C.A. Bancorp Inc.) Crosswinds Holdings Inc. Common Shares Crosswinds Holdings Inc. 1 07/02/2018 38 1.78 100 100 (formerly C.A. Bancorp Inc.) (formerly C.A. Bancorp Inc.) Crosswinds Holdings Inc. Common Shares Crosswinds Holdings Inc. 1 07/02/2018 38 1.78 0 -100 (formerly C.A. Bancorp Inc.) (formerly C.A. Bancorp Inc.) Crown Mining Corp. Options Dunn, Stephen Ronald 4 07/02/2018 50 0.2 450,000 100,000 Crown Mining Corp. Options Fairbairn, James Neville 4 07/02/2018 50 1,200,000 100,000 Crown Mining Corp. Options McRae, Peter Croft 4 07/02/2018 50 0.2 200,000 100,000 CVTech Group Inc. Common Shares Fonds de solidarité FTQ 3 30/12/2008 00 CVTech Group Inc. Common Shares Fonds de solidarité FTQ 3 30/12/2008 00 4,473,678 CWC Energy Services Corp. Common Shares CWC Energy Services 1 14/02/2018 10 0.18 40,500 500 Corp. CWC Energy Services Corp. Common Shares CWC Energy Services 1 14/02/2018 10 0.18 45,500 5,000 Corp. CWC Energy Services Corp. Common Shares CWC Energy Services 1 14/02/2018 10 0.18 86,500 41,000 Corp. DECISIVE DIVIDEND Common Shares Jeffrey, Peter Dudley 4 13/02/2018 11 4 51,333 -12,000 CORPORATION Dizun International Options Zabaneh, Hani John 4, 5 09/01/2018 00 Enterprises Inc. Dizun International Options Zabaneh, Hani John 4, 5 09/01/2018 50 0.065 250,000 250,000 Enterprises Inc. DLV Resources Ltd. Common Shares Kaloti, Jasvir Kaur 5 02/11/2017 00 95,000 DMG Blockchain Solutions Options Cheung, Ryan 5 01/09/2017 00 50,000 Inc. DMG Blockchain Solutions Options Cheung, Ryan 5 08/02/2018 50 0.8 100,000 50,000 Inc. DMG Blockchain Solutions Common Shares Filiatrault, Christopher John 4 08/02/2018 00 3,508,820 Inc. DMG Blockchain Solutions Options Filiatrault, Christopher John 4 08/02/2018 00 445,000 Inc.

February 22, 2018 (2018), 41 OSCB 1531

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed DMG Blockchain Solutions Common Shares Rasekh, Justin 4 08/02/2018 00 50,000 Inc. DMG Blockchain Solutions Common Shares Rasekh, Justin 4 14/02/2018 10 1.25 53,250 3,250 Inc. DMG Blockchain Solutions Options Rasekh, Justin 4 08/02/2018 00 560,000 Inc. Dolly Varden Silver Options Birak, Donald James 4 15/02/2018 50 0.79 350,000 50,000 Corporation Dolly Varden Silver Options Cope, Gary Gordon 4, 5 15/02/2018 50 0.79 700,000 150,000 Corporation Dolly Varden Silver Options Cusworth, Annette 4 15/02/2018 50 0.79 200,000 50,000 Corporation Dolly Varden Silver Options Hartzenberg, Carla 5 06/02/2018 00 Corporation Dolly Varden Silver Options Hartzenberg, Carla 5 15/02/2018 50 0.79 125,000 125,000 Corporation Dolly Varden Silver Options Sabala, James Anthony 4 15/02/2018 50 0.79 200,000 50,000 Corporation Dolly Varden Silver Options Tsakumis, Alexander 5 15/02/2018 50 0.79 150,000 75,000 Corporation Dolly Varden Silver Options Whiting, Bernard Henry 5 15/02/2018 50 0.79 225,000 100,000 Corporation Dundee Precious Metals Inc. Common Shares GMT Capital Corp 3 09/02/2018 10 2.12 4,704,690 20,700 Dundee Precious Metals Inc. Common Shares GMT Capital Corp 3 12/02/2018 10 2.29 4,725,390 20,700 Dundee Precious Metals Inc. Common Shares GMT Capital Corp 3 13/02/2018 10 2.27 4,776,790 51,400 Dundee Precious Metals Inc. Common Shares GMT Capital Corp 3 14/02/2018 10 2.25 4,784,990 8,200 Dundee Precious Metals Inc. Common Shares GMT Capital Corp 3 15/02/2018 10 2.29 4,792,090 7,100 Dundee Precious Metals Inc. Common Shares GMT Capital Corp 3 09/02/2018 10 2.12 6,021,470 25,600 Dundee Precious Metals Inc. Common Shares GMT Capital Corp 3 12/02/2018 10 2.27 6,047,070 25,600 Dundee Precious Metals Inc. Common Shares GMT Capital Corp 3 13/02/2018 10 2.27 6,110,870 63,800 Dundee Precious Metals Inc. Common Shares GMT Capital Corp 3 14/02/2018 10 2.25 6,120,970 10,100 Dundee Precious Metals Inc. Common Shares GMT Capital Corp 3 15/02/2018 10 2.29 6,129,770 8,800 Dundee Precious Metals Inc. Common Shares GMT Capital Corp 3 09/02/2018 10 2.12 8,909,900 36,700 Dundee Precious Metals Inc. Common Shares GMT Capital Corp 3 12/02/2018 10 2.29 8,946,600 36,700 Dundee Precious Metals Inc. Common Shares GMT Capital Corp 3 13/02/2018 10 2.27 9,038,200 91,600 Dundee Precious Metals Inc. Common Shares GMT Capital Corp 3 14/02/2018 10 2.25 9,052,800 14,600 Dundee Precious Metals Inc. Common Shares GMT Capital Corp 3 15/02/2018 10 2.29 9,065,300 12,500 Dundee Precious Metals Inc. Common Shares GMT Capital Corp 3 09/02/2018 10 2.12 322,540 1,400 Dundee Precious Metals Inc. Common Shares GMT Capital Corp 3 12/02/2018 10 2.29 323,940 1,400 Dundee Precious Metals Inc. Common Shares GMT Capital Corp 3 13/02/2018 10 2.27 327,340 3,400 Dundee Precious Metals Inc. Common Shares GMT Capital Corp 3 14/02/2018 10 2.25 327,840 500 Dundee Precious Metals Inc. Common Shares GMT Capital Corp 3 15/02/2018 10 2.29 328,340 500 Dundee Precious Metals Inc. Common Shares GMT Capital Corp 3 09/02/2018 10 2.12 941,600 3,400 Dundee Precious Metals Inc. Common Shares GMT Capital Corp 3 12/02/2018 10 2.29 945,000 3,400 Dundee Precious Metals Inc. Common Shares GMT Capital Corp 3 13/02/2018 10 2.27 953,400 8,400 Dundee Precious Metals Inc. Common Shares GMT Capital Corp 3 14/02/2018 10 2.25 954,700 1,300 Dundee Precious Metals Inc. Common Shares GMT Capital Corp 3 15/02/2018 10 2.29 955,900 1,200 Duran Ventures Inc. Common Shares Brown, William Richard 4 13/02/2018 10 0.085 6,612,000 -200,000 Unlimited, No Par Value Duran Ventures Inc. Common Shares Brown, William Richard 4 14/02/2018 54 0.075 7,472,000 860,000 Unlimited, No Par Value Duran Ventures Inc. Warrants Issued in Private Brown, William Richard 4 14/02/2018 54 0.075 1,700,000 -860,000 Placements Duran Ventures Inc. Common Shares Reeder, Jeffrey 4 07/02/2018 10 0.08 2,430,191 -286,000 Unlimited, No Par Value Duran Ventures Inc. Common Shares Reeder, Jeffrey 4 14/02/2018 54 0.075 2,630,191 200,000 Unlimited, No Par Value Duran Ventures Inc. Common Shares Reeder, Jeffrey 4 16/02/2018 54 0.075 3,050,191 420,000 Unlimited, No Par Value Duran Ventures Inc. Warrants Issued in Private Reeder, Jeffrey 4 14/02/2018 54 0.075 1,289,000 -200,000 Placements Duran Ventures Inc. Warrants Issued in Private Reeder, Jeffrey 4 16/02/2018 54 0.075 1,175,000 -420,000 Placements

February 22, 2018 (2018), 41 OSCB 1532

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed dynaCERT Inc. (formerly Common Shares Hoffman, Raymond Wayne 4 10/02/2018 51 0.12 6,972,200 75,000 Dynamic Fuel Systems Inc.) dynaCERT Inc. (formerly Options Hoffman, Raymond Wayne 4 21/12/2016 50 1,500,000 300,000 Dynamic Fuel Systems Inc.) dynaCERT Inc. (formerly Options Hoffman, Raymond Wayne 4 17/07/2017 51 0.19 1,425,000 -75,000 Dynamic Fuel Systems Inc.) dynaCERT Inc. (formerly Options Hoffman, Raymond Wayne 4 10/02/2018 51 0.12 1,600,000 -75,000 Dynamic Fuel Systems Inc.) Earth Alive Clean Common Shares Blain, Robert 4 10/04/2014 00 Technologies Inc. Earth Alive Clean Common Shares Blain, Robert 4 08/02/2018 11 0.1 1,000,000 1,000,000 Technologies Inc. Earth Alive Clean Common Shares La Salle, Benoit 4 15/02/2018 11 0.1 2,393,571 500,000 Technologies Inc. Earth Alive Clean Common Shares La Salle, Benoit 4 16/02/2018 11 0.15 2,893,571 500,000 Technologies Inc. East Coast Investment Units Arrow Capital Management 7 12/02/2018 10 10 270,900 -700 Grade Income Fund Inc. East Coast Investment Units Arrow Capital Management 7 13/02/2018 10 9.95 266,700 -4,200 Grade Income Fund Inc. East Coast Investment Units Arrow Capital Management 7 14/02/2018 10 9.9617 256,000 -10,700 Grade Income Fund Inc. East Coast Investment Units Arrow Capital Management 7 15/02/2018 10 9.95 242,300 -13,700 Grade Income Fund Inc. East Coast Investment Units Arrow Capital Management 7 16/02/2018 10 9.95 239,100 -3,200 Grade Income Fund Inc. Eastern Platinum Limited Options Perkins, Douglas 4 05/07/2016 00 Eastern Platinum Limited Options Perkins, Douglas 4 05/07/2016 00 100,000 Eastern Platinum Limited Options Perkins, Douglas 4 13/02/2018 52 0 -200,000 Eclipse Residential Mortgage Common Shares Hoffmann, Christopher 4 08/02/2018 10 10.15 27,900 -2,100 Investment Corporation Eclipse Residential Mortgage Common Shares Hoffmann, Christopher 4 09/02/2018 10 10.15 25,000 -2,900 Investment Corporation Eclipse Residential Mortgage Common Shares Hoffmann, Christopher 4 13/02/2018 10 10.15 23,300 -1,700 Investment Corporation ECN Capital Corp. Common Shares ECN CAPITAL CORP. 1 09/02/2018 38 3.3957 13,784,142 383,292 ECN Capital Corp. Common Shares ECN CAPITAL CORP. 1 12/02/2018 38 3.4225 14,810,942 1,026,800 ECN Capital Corp. Common Shares ECN CAPITAL CORP. 1 13/02/2018 38 3.4838 15,194,234 383,292 ECN Capital Corp. Common Shares ECN CAPITAL CORP. 1 14/02/2018 38 3.535 15,220,856 26,622 Economic Investment Trust Common Shares Canadian & Foreign 3 13/02/2018 10 116.1 713,313 300 Limited Securities Co. Limited Economic Investment Trust Common Shares Jackman, Maria Victoria 4 09/02/2018 10 116.25 6,260 1,300 Limited Duncan Edgewater Wireless Systems Common Shares Anderson, Duane Laurie 4, 5 06/02/2018 10 0.534 8,958,601 -50,000 Inc. Edgewater Wireless Systems Common Shares Anderson, Duane Laurie 4, 5 09/02/2018 10 0.5612 8,873,601 -85,000 Inc. Eloro Resources Ltd. Common Shares LARSEN, THOMAS 4, 5 05/02/2018 10 0.98 1,097,500 2,000 Eloro Resources Ltd. Common Shares LARSEN, THOMAS 4, 5 05/02/2018 10 0.97 1,100,500 3,000 Eloro Resources Ltd. Common Shares LARSEN, THOMAS 4, 5 05/02/2018 10 0.95 1,105,500 5,000 Eloro Resources Ltd. Common Shares LARSEN, THOMAS 4, 5 06/02/2018 10 0.95 1,107,500 2,000 Eloro Resources Ltd. Common Shares LARSEN, THOMAS 4, 5 08/02/2018 10 0.97 1,110,500 3,000 Eloro Resources Ltd. Common Shares LARSEN, THOMAS 4, 5 14/02/2018 10 0.97 1,113,000 2,500 Eloro Resources Ltd. Common Shares SAUVE, FRANCIS 4 13/02/2018 54 0.45 1,195,575 250,000 Eloro Resources Ltd. Warrants SAUVE, FRANCIS 4 13/02/2018 54 0.45 0 -250,000 Emera Incorporated Common Shares Balfour, Scott Carlyle 5 14/02/2018 10 39.21 38,967 6,000 Emera Incorporated Common Shares Balfour, Scott Carlyle 5 14/02/2018 10 39.99 45,217 6,250 Emera Incorporated Common Shares Eisenhauer, James Daniel 4 01/09/2008 00 Emera Incorporated Common Shares Eisenhauer, James Daniel 4 14/02/2018 10 39.357 5,000 5,000 Emera Incorporated Common Shares Huskilson, Christopher 4, 5 14/02/2018 10 39.25 83,565 2,000 Emera Incorporated Common Shares Huskilson, Christopher 4, 5 14/02/2018 10 39.625 88,565 5,000 Emera Incorporated Common Shares Huskilson, Christopher 4, 5 15/02/2018 10 39.375 92,565 4,000 Emera Incorporated Common Shares Rodger, Jonathan Mark 7 05/02/2018 00

February 22, 2018 (2018), 41 OSCB 1533

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Emera Incorporated Common Shares Rodger, Jonathan Mark 7 05/02/2018 00 Enbridge Income Fund Common Shares Frank, Brian Ernst 4 12/02/2018 30 29.893 17,077 1,077 Holdings Inc. Enbridge Income Fund Common Shares Lewis, Melville George 4 12/02/2018 30 29.893 14,229 229 Holdings Inc. Encana Corporation Common Shares Mayson, Howard John 4 16/02/2018 10 11.168 22,724 2,500 Encana Corporation Common Shares McKenzie, Margaret Anne 4 16/02/2018 10 13.997 22,000 10,000 Encana Corporation Common Shares Suttles, Douglas James 4, 5 16/02/2018 10 14 92,350 2,000 Endeavour Mining Performance Share Units BENOIT, VINCENT 5 12/02/2018 56 554,326 240,000 Corporation Endeavour Mining Options Bernasconi, Pascal 5 01/10/2017 00 11,210 Corporation Endeavour Mining Performance Share Units Bernasconi, Pascal 5 01/10/2017 00 12,803 Corporation Endeavour Mining Performance Share Units Bernasconi, Pascal 5 12/02/2018 56 79,961 67,158 Corporation Endeavour Mining Performance Share Units Bouisset, Patrick 5 12/02/2018 56 317,515 100,738 Corporation Endeavour Mining Performance Share Units Carroll, Morgan Denis 5 12/02/2018 56 283,102 111,931 Corporation Endeavour Mining Performance Share Units de Joux, Henri 5 12/02/2018 56 196,175 67,158 Corporation Endeavour Mining Performance Share Units de Montessus, Sébastien 4, 5 12/02/2018 56 1,387,983 475,000 Corporation Endeavour Mining Performance Share Units Langford, Jeremy 5 12/02/2018 56 425,209 153,905 Corporation Enerdynamic Hybrid Common Shares Woolford, David 4 07/02/2018 10 2,823,914 100,000 Technologies Corp. Enerdynamic Hybrid Common Shares Woolford, David 4 09/02/2018 10 2,973,914 150,000 Technologies Corp. Energold Drilling Corp. Options Gold, Steven 1 21/12/2017 50 0.35 275,000 135,000 Engagement Labs Inc. Common Shares Lev, Bruce 3, 4, 6 27/09/2016 00 Engagement Labs Inc. Common Shares Lev, Bruce 3, 4, 6 27/09/2016 00 Engagement Labs Inc. Common Shares Lev, Bruce 3, 4, 6 27/09/2016 00 443,347 Engagement Labs Inc. Common Shares Lev, Bruce 3, 4, 6 22/11/2017 16 0.05 13,193,347 12,750,000 Engagement Labs Inc. Convertible Debentures Lev, Bruce 3, 4, 6 27/09/2016 00 Engagement Labs Inc. Convertible Debentures Lev, Bruce 3, 4, 6 27/09/2016 00 Engagement Labs Inc. Convertible Debentures Lev, Bruce 3, 4, 6 27/09/2016 00 OCT 2016 1% Engagement Labs Inc. Convertible Debentures Lev, Bruce 3, 4, 6 28/09/2016 16 0.2 $1,980,450 $1,980,450 OCT 2016 1% Engagement Labs Inc. Warrants Lev, Bruce 3, 4, 6 27/09/2016 00 Engagement Labs Inc. Warrants Lev, Bruce 3, 4, 6 27/09/2016 00 Engagement Labs Inc. Warrants Lev, Bruce 3, 4, 6 27/09/2016 00 Engagement Labs Inc. Warrants Lev, Bruce 3, 4, 6 27/09/2016 00 Engagement Labs Inc. Warrants Lev, Bruce 3, 4, 6 28/09/2016 16 9,902,250 9,902,250 Engagement Labs Inc. Warrants Lev, Bruce 3, 4, 6 22/11/2017 16 16,277,250 6,375,000 Engagement Labs Inc. Common Shares Loeb Holding Corporation 3 22/11/2017 00 13,193,347 Engagement Labs Inc. Convertible Debentures Loeb Holding Corporation 3 22/11/2017 00 $1,980,450 OCT 2016 1% Engagement Labs Inc. Options Loeb Holding Corporation 3 22/11/2017 00 1,669,800 Engagement Labs Inc. Warrants Loeb Holding Corporation 3 22/11/2017 00 16,277,250 Epsilon Energy Ltd. Common Shares AZVALOR ASSET 3 15/02/2018 10 481,595 -366,327 MANAGEMENT SGIIC Epsilon Energy Ltd. Common Shares AZVALOR ASSET 3 15/02/2018 10 5,748,081 366,327 MANAGEMENT SGIIC Epsilon Energy Ltd. Common Shares Bond, Bruce Lane 5 14/02/2018 10 2.04 140,000 5,000 EQ Inc. Common Shares Kathriarachchi, 5 24/11/2015 00 Kathriarachchige Don Kasun Dilshan Augustine EQ Inc. Common Shares Kathriarachchi, 5 16/02/2018 54 0.08 1,481,907 1,481,907 Kathriarachchige Don Kasun Dilshan Augustine

February 22, 2018 (2018), 41 OSCB 1534

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed EQ Inc. Warrants Kathriarachchi, 5 16/02/2018 54 0.08 0 -1,481,907 Kathriarachchige Don Kasun Dilshan Augustine EQ Inc. Common Shares Lobo, Vernon 4, 6 14/02/2018 54 0.08 2,165,857 1,237,815 EQ Inc. Common Shares Lobo, Vernon 4, 6 14/02/2018 54 0.08 1,400,000 1,150,000 EQ Inc. Warrants Lobo, Vernon 4, 6 14/02/2018 54 0.08 140,000 -1,237,815 EQ Inc. Warrants Lobo, Vernon 4, 6 14/02/2018 54 0.08 1,203,308 -1,150,000 EQ Inc. Common Shares Rotstein, Geoffrey 4, 5 16/02/2018 54 0.08 2,869,277 1,912,815 EQ Inc. Warrants Rotstein, Geoffrey 4, 5 16/02/2018 54 0.08 350,000 -1,912,815 Equinox Gold Corp. (formerly Common Shares D'Amici, Sebastian 5 15/02/2018 57 1.12 207,257 13,911 Trek Mining Inc.) Equinox Gold Corp. (formerly Rights Restricted Share D'Amici, Sebastian 5 15/02/2018 57 165,250 -27,625 Trek Mining Inc.) Units - Time Based Equinox Gold Corp. (formerly Common Shares Hardie, Peter Jeremie 5 15/02/2018 57 1.12 392,725 18,084 Trek Mining Inc.) Equinox Gold Corp. (formerly Rights Restricted Share Hardie, Peter Jeremie 5 15/02/2018 57 196,824 -35,913 Trek Mining Inc.) Units - Time Based Equinox Gold Corp. (formerly Common Shares Heffernan, Robert Scott 5 15/02/2018 57 1.12 235,372 15,302 Trek Mining Inc.) Equinox Gold Corp. (formerly Rights Restricted Share Heffernan, Robert Scott 5 15/02/2018 57 185,774 -30,388 Trek Mining Inc.) Units - Time Based Equinox Gold Corp. (formerly Common Shares Laing, David Charles 5 15/02/2018 57 1.12 850,373 27,821 Trek Mining Inc.) Equinox Gold Corp. (formerly Rights Restricted Share Laing, David Charles 5 15/02/2018 57 265,500 -55,250 Trek Mining Inc.) Units - Time Based Equinox Gold Corp. (formerly Common Shares Milau, Christian 4, 5 15/02/2018 57 1.12 979,205 27,821 Trek Mining Inc.) Equinox Gold Corp. (formerly Rights Restricted Share Milau, Christian 4, 5 15/02/2018 57 265,500 -55,250 Trek Mining Inc.) Units - Time Based Ero Copper Corp. Common Shares Strang, David Maxwell 4, 5 11/10/2017 00 Ero Copper Corp. Common Shares Strang, David Maxwell 4, 5 13/02/2018 36 0.75 738,082 738,082 Ero Copper Corp. Common Shares Strang, David Maxwell 4, 5 13/02/2018 54 1.2 922,602 184,520 Ero Copper Corp. Convertible Debentures Strang, David Maxwell 4, 5 13/02/2018 36 0.75 $0 -$500,000 Ero Copper Corp. Warrants Strang, David Maxwell 4, 5 11/10/2017 00 Ero Copper Corp. Warrants Strang, David Maxwell 4, 5 13/02/2018 53 1.2 184,520 184,520 Ero Copper Corp. Warrants Strang, David Maxwell 4, 5 13/02/2018 54 1.2 0 -184,520 Ero Copper Corp. Common Shares Wubs, Matthew Harley 4 27/12/2017 54 1.2 66,666 Ero Copper Corp. Common Shares Wubs, Matthew Harley 4 27/12/2017 54 1.2 66,666 Ero Copper Corp. Common Shares Wubs, Matthew Harley 4 13/02/2018 36 0.75 2,071,415 738,082 Ero Copper Corp. Common Shares Wubs, Matthew Harley 4 13/02/2018 54 1.2 2,255,935 184,520 Ero Copper Corp. Convertible Debentures Wubs, Matthew Harley 4 13/02/2018 36 0.75 $0 -$500,000 Ero Copper Corp. Warrants Wubs, Matthew Harley 4 27/12/2017 54 1.2 -66,666 Ero Copper Corp. Warrants Wubs, Matthew Harley 4 27/12/2017 54 1.2 -66,666 Ero Copper Corp. Warrants Wubs, Matthew Harley 4 11/10/2017 00 Ero Copper Corp. Warrants Wubs, Matthew Harley 4 11/10/2017 00 Ero Copper Corp. Warrants Wubs, Matthew Harley 4 11/10/2017 00 333,333 Ero Copper Corp. Warrants Wubs, Matthew Harley 4 13/02/2018 53 1.2 184,520 184,520 Ero Copper Corp. Warrants Wubs, Matthew Harley 4 13/02/2018 54 1.2 0 -184,520 Eskay Mining Corp Common Shares Marrelli, Carmelo 5 12/02/2018 10 0.26 92,000 -8,000 Essential Energy Services Common Shares Amundson, Garnet K. 4, 5 31/12/2017 30 779,952 97,197 Ltd. Essential Energy Services Rights DSU Amundson, Garnet K. 4, 5 10/01/2017 56 1,555,769 725,000 Ltd. Essential Energy Services Rights RSU Amundson, Garnet K. 4, 5 10/01/2017 56 1,002,685 300,000 Ltd. Essential Energy Services Rights RSU Amundson, Garnet K. 4, 5 20/01/2017 59 905,404 -97,281 Ltd. Essential Energy Services Rights RSU Amundson, Garnet K. 4, 5 20/01/2017 38 898,874 -6,530 Ltd. Essential Energy Services Rights RSU Amundson, Garnet K. 4, 5 06/03/2017 38 838,597 -60,277 Ltd. Essential Energy Services Rights RSU Amundson, Garnet K. 4, 5 22/12/2017 59 795,063 -43,534 Ltd.

February 22, 2018 (2018), 41 OSCB 1535

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Essential Energy Services Rights DSU Banister, James Alexander 4 15/08/2017 56 362,842 105,000 Ltd. Essential Energy Services Rights DSU Black, Michael James 4 15/08/2017 56 255,228 70,000 Ltd. Essential Energy Services Rights DSU German, Robert Thomas 4 15/08/2017 56 272,878 70,000 Ltd. Essential Energy Services Rights DSU KIRTON, Nicholas Grenville 4 15/08/2017 56 255,228 70,000 Ltd. Essential Energy Services Rights DSU Michaleski, Robert B. 4 15/08/2017 56 278,760 70,000 Ltd. Essential Energy Services Common Shares Mowbray, Allan George 5 31/12/2017 30 77,937 29,644 Ltd. Essential Energy Services Common Shares Mowbray, Allan George 5 31/12/2017 30 91,841 29,644 Ltd. Essential Energy Services Rights DSU Mowbray, Allan George 5 10/01/2017 56 596,154 340,000 Ltd. Essential Energy Services Rights RSU Mowbray, Allan George 5 20/01/2017 59 -32,599 Ltd. Essential Energy Services Rights RSU Mowbray, Allan George 5 20/01/2017 59 186,925 -32,559 Ltd. Essential Energy Services Rights RSU Mowbray, Allan George 5 20/01/2017 38 185,020 -1,905 Ltd. Essential Energy Services Rights RSU Mowbray, Allan George 5 06/03/2017 38 163,254 -21,766 Ltd. Essential Energy Services Rights RSU Mowbray, Allan George 5 22/12/2017 59 150,556 -12,698 Ltd. Essential Energy Services Common Shares NEWMAN, JEFFREY BURT 5 31/12/2017 30 65,868 1,783 Ltd. Essential Energy Services Common Shares NEWMAN, JEFFREY BURT 5 31/12/2017 30 155,580 15,792 Ltd. Essential Energy Services Rights DSU NEWMAN, JEFFREY BURT 5 10/01/2018 56 650,769 270,000 Ltd. Essential Energy Services Rights RSU NEWMAN, JEFFREY BURT 5 20/01/2017 59 35,908 Ltd. Essential Energy Services Rights RSU NEWMAN, JEFFREY BURT 5 20/01/2017 59 304,192 -35,908 Ltd. Essential Energy Services Rights RSU NEWMAN, JEFFREY BURT 5 20/01/2017 38 302,287 -1,905 Ltd. Essential Energy Services Rights RSU NEWMAN, JEFFREY BURT 5 06/03/2017 38 277,172 -25,115 Ltd. Essential Energy Services Rights RSU NEWMAN, JEFFREY BURT 5 22/12/2017 59 12,698 Ltd. Essential Energy Services Rights RSU NEWMAN, JEFFREY BURT 5 22/12/2017 59 264,474 -12,698 Ltd. Essential Energy Services Rights RSU NEWMAN, JEFFREY BURT 5 10/01/2018 56 454,474 190,000 Ltd. Essential Energy Services Common Shares PERASALO, KAREN 5 31/12/2017 30 119,778 10,588 Ltd. DENISE Essential Energy Services Rights DSU PERASALO, KAREN 5 10/01/2018 56 610,769 230,000 Ltd. DENISE Essential Energy Services Rights RSU PERASALO, KAREN 5 10/01/2017 56 411,229 160,000 Ltd. DENISE Essential Energy Services Rights RSU PERASALO, KAREN 5 20/01/2017 59 -10,793 Ltd. DENISE Essential Energy Services Rights RSU PERASALO, KAREN 5 20/01/2017 59 378,670 -32,559 Ltd. DENISE Essential Energy Services Rights RSU PERASALO, KAREN 5 20/01/2017 38 -1,905 Ltd. DENISE Essential Energy Services Rights RSU PERASALO, KAREN 5 20/01/2017 38 -23,671 Ltd. DENISE Essential Energy Services Rights RSU PERASALO, KAREN 5 20/01/2017 38 376,765 -1,905 Ltd. DENISE Essential Energy Services Rights RSU PERASALO, KAREN 5 06/03/2017 38 354,999 -21,766 Ltd. DENISE Essential Energy Services Rights RSU PERASALO, KAREN 5 22/12/2017 59 342,301 -12,698 Ltd. DENISE

February 22, 2018 (2018), 41 OSCB 1536

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Essential Energy Services Rights RSU PERASALO, KAREN 5 10/01/2018 56 160,000 Ltd. DENISE Ethos Gold Corp. Options Director and Freeman, Gary Richard 4, 5 19/12/2016 52 0.69 1,075,000 -50,000 Employee stock options European Focused Dividend Trust Units Brasseur, Jeremy 6 24/11/2017 00 Fund European Focused Dividend Trust Units Brasseur, Jeremy 6 14/02/2018 10 9.3513 4,000 4,000 Fund European Focused Dividend Trust Units European Focused Dividend 1 09/02/2018 38 9.4274 94,800 7,700 Fund Fund European Focused Dividend Trust Units European Focused Dividend 1 12/02/2018 38 9.3927 98,500 3,700 Fund Fund European Focused Dividend Trust Units European Focused Dividend 1 13/02/2018 38 9.3083 100,800 2,300 Fund Fund Excellon Resources Inc. Common Shares Sprott, Eric S. 3 07/02/2018 10 1.7 6,340,496 1,300 Excellon Resources Inc. Common Shares Sprott, Eric S. 3 08/02/2018 10 1.7 6,348,996 8,500 Finning International Inc. Performance Share Units Amar, Juan Pablo 5 09/02/2018 38 31.57 11,513 -3,890 Finning International Inc. Performance Share Units Breukels, Cornelis Mauritius 5 09/02/2018 38 31.57 6,298 -2,440 H.J. Finning International Inc. Performance Share Units Chavez, Cristian 5 09/02/2018 38 31.57 10,007 -3,540 Finning International Inc. Performance Share Units Cummings, David William 5 09/02/2018 38 31.57 31,526 -10,480 Finning International Inc. Performance Share Units Damjanic Yutronic, Pedro 5 09/02/2018 38 31.57 13,560 -5,230 Antonio Finning International Inc. Performance Share Units Day, Russell Willard 5 09/02/2018 38 31.57 14,067 -8,170 Finning International Inc. Performance Share Units Erdman, Jeff 5 09/02/2018 38 31.57 7,679 -3,450 Finning International Inc. Performance Share Units Guridi, Sebastian Tomas 5 09/02/2018 38 31.57 14,193 -5,830 Finning International Inc. Performance Share Units Hale, Mona 5 09/02/2018 38 31.57 13,058 -4,230 Finning International Inc. Performance Share Units Harrod, Darcy Joel 5 09/02/2018 38 31.57 10,137 -4,580 Finning International Inc. Performance Share Units Hiley, Chad, Stephen 5 09/02/2018 38 31.57 29,456 -4,420 Finning International Inc. Performance Share Units Marchese, Marchello 5 09/02/2018 38 31.57 34,669 -13,670 Finning International Inc. Performance Share Units Marks, Anna Pia 5 09/02/2018 38 31.57 13,317 -5,360 Finning International Inc. Performance Share Units Nielsen, Steven Mathew 5 09/02/2018 38 31.57 60,284 -23,970 Finning International Inc. Performance Share Units Palaschuk, Gregory 5 09/02/2018 38 31.57 14,606 -4,140 Finning International Inc. Performance Share Units Parkes, Kevin 5 09/02/2018 38 31.57 31,876 -3,450 Finning International Inc. Performance Share Units Primrose, David Francis 5 09/02/2018 38 31.57 18,722 -8,820 Neil Finning International Inc. Performance Share Units Thomson, Scott 5 09/02/2018 38 31.57 215,266 -84,310 Finning International Inc. Performance Share Units Villegas, Juan Carlos 5 09/02/2018 38 31.57 60,284 -23,120 First Capital Realty Inc. Common Shares Agourias, Eleftheria 5 31/12/2017 30 1,193 708 First Capital Realty Inc. Units Restricted Share Agourias, Eleftheria 5 12/02/2016 00 Units First Capital Realty Inc. Units Restricted Share Agourias, Eleftheria 5 12/02/2016 00 Units First Capital Realty Inc. Units Restricted Share Agourias, Eleftheria 5 31/12/2017 30 5,886 326 Units First Capital Realty Inc. Units Performance Share Brekken, Kay 7, 5 31/12/2017 30 28,163 1,177 Units First Capital Realty Inc. Units Restricted Share Brekken, Kay 7, 5 31/12/2017 30 10,969 459 Units First Capital Realty Inc. Units Performance Share Burton, Gareth 5 31/12/2017 30 8,344 349 Units First Capital Realty Inc. Units Performance Share Francella, Carmine 5 31/12/2017 30 10,957 457 Units First Capital Realty Inc. Deferred Share Units Hagan, Jon Nairn 4 31/12/2017 30 88,969 6,865 First Capital Realty Inc. Deferred Share Units Kimberley, Allan Scott 4 31/12/2017 30 16,619 4,939 First Capital Realty Inc. Deferred Share Units King, Anna Lisa 4 31/12/2017 30 4,645 4,181 First Capital Realty Inc. Units Performance Share Levy, Sandra Elizabeth 5 31/12/2017 30 5,219 218 Units First Capital Realty Inc. Units Restricted Share Levy, Sandra Elizabeth 5 31/12/2017 30 1,784 75 Units First Capital Realty Inc. Deferred Share Units McDonell, Bernard J. 4 31/12/2017 30 96,302 8,069 First Capital Realty Inc. Units Performance Share McDougald, Maryanne 7, 5 31/12/2017 30 15,658 654 Units

February 22, 2018 (2018), 41 OSCB 1537

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed First Capital Realty Inc. Units Restricted Share McDougald, Maryanne 7, 5 31/12/2017 30 8,157 593 Units First Capital Realty Inc. Units Restricted Share Menzies, Gregory 7, 5 31/12/2015 30 1,047 Units First Capital Realty Inc. Units Restricted Share Menzies, Gregory 7, 5 31/12/2015 30 1,047 Units First Capital Realty Inc. Units Performance Share Paul, Adam Elliot 4, 7, 5 31/12/2017 30 107,848 4,506 Units First Capital Realty Inc. Units Restricted Share Paul, Adam Elliot 4, 7, 5 31/12/2017 30 39,940 3,840 Units First Capital Realty Inc. Units Performance Share Robins, Jordan 7, 5 31/12/2017 30 34,763 1,452 Units First Capital Realty Inc. Units Restricted Share Segal, Dori 4, 6, 5 31/12/2017 30 58,800 2,970 Units First Capital Realty Inc. Units Performance Share Shpigel, Jodi 7, 5 31/12/2017 30 15,658 654 Units First Capital Realty Inc. Units Restricted Share Shpigel, Jodi 7, 5 31/12/2017 30 8,157 705 Units First Capital Realty Inc. Deferred Share Units Stark, Mia 4 31/12/2017 30 1,900 1,900 First Capital Realty Inc. Deferred Share Units Stephen, Andrea 4 31/12/2017 30 32,178 5,588 First Majestic Silver Corp. Common Shares First Majestic Silver Corp. 1 13/02/2018 38 65,000 -15,000 First Majestic Silver Corp. Common Shares First Majestic Silver Corp. 1 14/02/2018 38 50,000 -15,000 First Majestic Silver Corp. Common Shares First Majestic Silver Corp. 1 14/02/2018 38 0 -50,000 First Mexican Gold Corp. Common Shares Voisin, James Arthur Robert 4 13/02/2018 10 0.0115 -35,283 -20,000 First Mexican Gold Corp. Common Shares Voisin, James Arthur Robert 4 14/02/2018 10 0.0115 -50,283 -15,000 First Mexican Gold Corp. Common Shares Voisin, James Arthur Robert 4 16/02/2018 10 0.015 -90,283 -40,000 FIRSTSERVICE Options Calder, Brendan 4 09/02/2018 50 66.31 24,000 8,000 CORPORATION FIRSTSERVICE Options Cooke, Douglas G. 5 09/02/2018 50 66.31 153,750 37,500 CORPORATION FIRSTSERVICE Subordinate Voting FirstService Corporation 1 09/02/2018 10 67.995 400 400 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 09/02/2018 10 67.9 1,071 671 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 09/02/2018 10 67.81 1,471 400 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 09/02/2018 10 67.93 1,971 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 09/02/2018 10 67.825 2,171 200 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 09/02/2018 10 67.79 2,671 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 09/02/2018 10 67.72 3,171 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 09/02/2018 10 67.62 3,271 100 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 09/02/2018 10 67.75 3,771 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 09/02/2018 10 67.7 4,271 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 09/02/2018 10 67.6 5,271 1,000 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 09/02/2018 10 67.55 5,771 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 09/02/2018 10 67.45 6,271 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 09/02/2018 10 67.565 6,771 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 09/02/2018 10 67.5 7,271 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 09/02/2018 10 67.41 8,055 784 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 09/02/2018 10 67.38 9,055 1,000 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 09/02/2018 10 67.36 9,155 100 CORPORATION Shares

February 22, 2018 (2018), 41 OSCB 1538

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed FIRSTSERVICE Subordinate Voting FirstService Corporation 1 09/02/2018 10 67.4 10,384 1,229 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 09/02/2018 10 67.36 11,084 700 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 09/02/2018 10 67.21 11,300 216 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 09/02/2018 10 67.2 11,336 36 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 09/02/2018 10 68.4 11,436 100 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 12/02/2018 10 68.78 11,936 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 12/02/2018 10 68.7 12,936 1,000 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 12/02/2018 10 68.65 13,936 1,000 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 12/02/2018 10 68.75 14,436 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 12/02/2018 10 68.67 14,936 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 12/02/2018 10 68.6 15,436 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 12/02/2018 10 68.54 16,436 1,000 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 12/02/2018 10 68.55 16,936 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 12/02/2018 10 68.4 17,036 100 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 12/02/2018 10 68.5 18,536 1,500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 12/02/2018 10 67.39 19,036 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 12/02/2018 10 68.85 19,536 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 12/02/2018 10 68.82 20,336 800 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 12/02/2018 10 68.8 22,072 1,736 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 12/02/2018 10 68.83 22,572 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 12/02/2018 10 68.82 22,772 200 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 13/02/2018 10 69 23,008 236 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 13/02/2018 10 68.84 23,508 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 13/02/2018 10 68.8 24,008 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 13/02/2018 10 68.85 24,508 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 13/02/2018 10 68.85 25,008 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 13/02/2018 10 68.75 25,508 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 13/02/2018 10 68.5 26,008 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 13/02/2018 10 68.4 26,508 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 13/02/2018 10 68.7 27,008 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 13/02/2018 10 68.45 27,508 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 13/02/2018 10 68.35 28,008 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 13/02/2018 10 68.25 28,508 500 CORPORATION Shares

February 22, 2018 (2018), 41 OSCB 1539

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed FIRSTSERVICE Subordinate Voting FirstService Corporation 1 13/02/2018 10 68.15 29,008 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 13/02/2018 10 68.3 29,508 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 13/02/2018 10 68.2 30,008 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 13/02/2018 10 68.1 30,508 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 13/02/2018 10 67.95 32,008 1,500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 13/02/2018 10 68 33,008 1,000 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 13/02/2018 10 67.9 33,608 600 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 14/02/2018 10 69.52 34,108 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 14/02/2018 10 69.45 34,608 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 14/02/2018 10 69.345 35,108 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 14/02/2018 10 69.5 35,608 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 14/02/2018 10 69.4 36,108 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 14/02/2018 10 69.34 36,608 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 14/02/2018 10 69.2 37,540 932 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 14/02/2018 10 69.1 38,040 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 14/02/2018 10 69.3 38,540 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 14/02/2018 10 69.15 39,040 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 14/02/2018 10 69.05 39,444 404 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 14/02/2018 10 68.6 39,944 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 14/02/2018 10 68.5 40,944 1,000 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 14/02/2018 10 68.65 41,444 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 14/02/2018 10 68.55 41,944 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 14/02/2018 10 68.45 42,444 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 14/02/2018 10 69.73 42,944 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 14/02/2018 10 69.65 43,444 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 14/02/2018 10 69.55 43,944 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 14/02/2018 10 69.7 44,444 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 14/02/2018 10 69.6 44,944 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 14/02/2018 10 69.36 350 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 15/02/2018 10 70.22 45,244 300 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 15/02/2018 10 70.18 45,744 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 15/02/2018 10 70.1 46,244 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 15/02/2018 10 70.22 46,444 200 CORPORATION Shares

February 22, 2018 (2018), 41 OSCB 1540

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed FIRSTSERVICE Subordinate Voting FirstService Corporation 1 15/02/2018 10 70.15 46,544 100 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 15/02/2018 10 69.79 47,044 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 15/02/2018 10 69.7 47,144 100 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 15/02/2018 10 69.45 47,644 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 15/02/2018 10 69.75 48,144 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 15/02/2018 10 69.485 48,644 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 15/02/2018 10 69.4 49,294 650 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 15/02/2018 10 69.33 49,794 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 15/02/2018 10 69.35 50,294 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 15/02/2018 10 69.36 50,644 350 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 15/02/2018 10 69.34 51,144 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 15/02/2018 10 70.35 51,680 536 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 15/02/2018 10 70.275 52,180 500 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 15/02/2018 10 70.23 52,480 300 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 15/02/2018 10 70.3 52,580 100 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 15/02/2018 10 70.23 52,780 200 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 15/02/2018 10 69.31 53,780 1,000 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 15/02/2018 10 69.25 54,780 1,000 CORPORATION Shares FIRSTSERVICE Subordinate Voting FirstService Corporation 1 15/02/2018 10 69.3 56,280 1,500 CORPORATION Shares FIRSTSERVICE Options Ghert, Bernard I. 4 09/02/2018 50 66.31 29,000 8,000 CORPORATION FIRSTSERVICE Options Ghert, Bernard I. 4 09/02/2018 51 12.85 24,000 -5,000 CORPORATION FIRSTSERVICE Subordinate Voting Ghert, Bernard I. 4 09/02/2018 51 12.85 30,714 5,000 CORPORATION Shares FIRSTSERVICE Options Nguyen, Alex 5 09/02/2018 50 66.31 142,750 37,500 CORPORATION FIRSTSERVICE Options Nguyen, Alex 5 09/02/2018 51 12.85 137,250 -5,500 CORPORATION FIRSTSERVICE Subordinate Voting Nguyen, Alex 5 09/02/2018 51 12.85 18,500 5,500 CORPORATION Shares FIRSTSERVICE Options Patterson, D. Scott 4, 5 09/02/2018 50 66.31 555,000 125,000 CORPORATION FIRSTSERVICE Options Patterson, D. Scott 4, 5 09/02/2018 51 12.85 495,000 -60,000 CORPORATION FIRSTSERVICE Subordinate Voting Patterson, D. Scott 4, 5 09/02/2018 51 12.85 885,262 60,000 CORPORATION Shares FIRSTSERVICE Options Rakusin, Jeremy Alan 5 09/02/2018 50 66.31 250,000 60,000 CORPORATION FIRSTSERVICE Options Reichheld, Frederick 4 09/02/2018 50 66.31 29,000 8,000 CORPORATION FIRSTSERVICE Options Stein, Michael 4 09/02/2018 50 66.31 29,000 8,000 CORPORATION FIRSTSERVICE Options Wallace, Erin Joy 4 09/02/2018 50 66.31 29,000 8,000 CORPORATION Five Star Diamonds Limited Options de Azevedo, Luis Mauricio 4, 5 20/04/2017 00 F.

February 22, 2018 (2018), 41 OSCB 1541

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Five Star Diamonds Limited Options de Azevedo, Luis Mauricio 4, 5 12/02/2018 50 1,600,000 1,600,000 F. Five Star Diamonds Limited Options Jahn, Maximilian 4 15/01/2018 00 Five Star Diamonds Limited Options Jahn, Maximilian 4 12/02/2018 50 600,000 600,000 Five Star Diamonds Limited Options Marrelli, Carmelo 5 12/02/2018 50 0.3 400,000 200,000 Five Star Diamonds Limited Common Shares R&R Venture Partners II 3 12/02/2018 10 0.2386 34,467,614 70,000 LLC Five Star Diamonds Limited Common Shares R&R Venture Partners II 3 13/02/2018 10 0.2205 34,587,614 120,000 LLC Five Star Diamonds Limited Common Shares R&R Venture Partners II 3 14/02/2018 10 0.235 34,622,614 35,000 LLC Five Star Diamonds Limited Common Shares R&R Venture Partners II 3 15/02/2018 10 0.2275 34,652,614 30,000 LLC Five Star Diamonds Limited Common Shares R&R Venture Partners II 3 16/02/2018 10 0.2224 34,747,614 95,000 LLC Five Star Diamonds Limited Common Shares Waraich, Aneel Singh 4 13/02/2018 10 0.23 2,403,184 5,000 Five Star Diamonds Limited Common Shares Waraich, Aneel Singh 4 13/02/2018 10 0.235 2,413,984 10,800 Five Star Diamonds Limited Common Shares Waraich, Aneel Singh 4 13/02/2018 10 0.2 2,416,984 3,000 Five Star Diamonds Limited Common Shares Waraich, Aneel Singh 4 16/02/2018 10 0.225 2,423,484 6,500 Five Star Diamonds Limited Common Shares Waraich, Aneel Singh 4 16/02/2018 10 0.21 2,427,484 4,000 Five Star Diamonds Limited Options Waraich, Aneel Singh 4 08/09/2017 00 Five Star Diamonds Limited Options Waraich, Aneel Singh 4 12/02/2018 50 1,600,000 1,600,000 Fort St. James Nickel Corp. Common Shares Mitton, Gerald Alexander 3 15/02/2018 10 0.42 2,521,463 3,500 Fort St. James Nickel Corp. Common Shares Mitton, Gerald Alexander 3 16/02/2018 10 0.42 2,527,963 6,500 Fortis Inc. Performance Share Unit Amaimo, Stephanie Ann 5 01/10/2017 00 Fortis Inc. Performance Share Unit Amaimo, Stephanie Ann 5 13/02/2018 56 46.009 2,613 2,613 Fortis Inc. Performance Share Units Amaimo, Stephanie Ann 5 13/02/2018 56 46.009 2,613 (ITC) Fortis Inc. Restricted Share Units Amaimo, Stephanie Ann 5 01/10/2017 00 Fortis Inc. Restricted Share Units Amaimo, Stephanie Ann 5 13/02/2018 56 46.009 871 871 Fortis Inc. Restricted Share Units Amaimo, Stephanie Ann 5 01/12/2017 30 47.723 591 5 (ITC) Fortis Inc. Restricted Share Units Amaimo, Stephanie Ann 5 13/02/2018 56 46.009 871 (ITC) Fortis Inc. Options Delaney, Phonse 5 13/02/2018 50 165,544 38,680 Fortis Inc. Performance Share Unit Delaney, Phonse 5 13/02/2018 56 46.009 31,744 13,040 Fortis Inc. Options Duke, Nora 5 13/02/2018 50 279,312 49,168 Fortis Inc. Performance Share Unit Duke, Nora 5 13/02/2018 56 46.009 55,978 16,578 Fortis Inc. Performance Share Unit Francis, Trina Michelle 5 01/03/2017 00 747 Fortis Inc. Performance Share Unit Francis, Trina Michelle 5 01/06/2017 30 44.277 755 8 Fortis Inc. Performance Share Unit Francis, Trina Michelle 5 01/09/2017 30 45.735 761 6 Fortis Inc. Performance Share Unit Francis, Trina Michelle 5 01/12/2017 30 47.723 767 6 Fortis Inc. Performance Share Unit Francis, Trina Michelle 5 13/02/2018 56 46.009 1,469 702 Fortis Inc. Options Gosse, Karen J. 5 13/02/2018 50 43,416 7,012 Fortis Inc. Performance Share Unit Gosse, Karen J. 5 13/02/2018 56 40.009 5,148 1,575 Fortis Inc. Restricted Share Units Gosse, Karen J. 5 13/02/2018 56 46.009 2,574 788 Fortis Inc. Performance Share Unit Hutchens, David Gerard 7 16/06/2017 00 Fortis Inc. Performance Share Unit Hutchens, David Gerard 7 13/02/2018 30 46.009 9,564 9,564 Fortis Inc. Options O'Dea, Regan 5 13/02/2018 50 41.27 7,796 5,028 Fortis Inc. Performance Share Unit O'Dea, Regan 5 13/02/2018 56 46.009 3,610 1,130 Fortis Inc. Restricted Share Units O'Dea, Regan 5 02/01/2014 00 Fortis Inc. Restricted Share Units O'Dea, Regan 5 13/02/2018 56 46.009 565 565 Fortis Inc. Options Perry, Barry 4, 5 13/02/2018 50 1,173,128 251,404 Fortis Inc. Performance Share Unit Perry, Barry 4, 5 13/02/2018 56 46.009 322,283 84,766 Fortis Inc. Options Roberts, Jamie 7 13/02/2018 50 45,224 11,848 Fortis Inc. Performance Share Unit Roberts, Jamie 7 13/02/2018 56 46.009 9,926 2,662 Fortis Inc. Restricted Share Units Roberts, Jamie 7 13/02/2018 56 46.009 4,101 1,331 Fortis Inc. Options Smith, Gary Joseph 7 13/02/2018 50 147,480 40,612 Fortis Inc. Performance Share Unit Smith, Gary Joseph 7 13/02/2018 56 46.009 30,878 13,693 Fortis Inc. Options Smith, Karl W. 5 13/02/2018 50 446,076 69,136 Fortis Inc. Performance Share Unit Smith, Karl W. 5 13/02/2018 56 46.009 90,027 23,310

February 22, 2018 (2018), 41 OSCB 1542

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Fortis Inc. Options Spinney, James 5 13/02/2018 50 64,323 12,860 Fortis Inc. Performance Share Unit Spinney, James 5 13/02/2018 56 46.009 10,588 2,890 Fortis Inc. Restricted Share Units Spinney, James 5 13/02/2018 56 46.009 4,433 1,445 Fortress Global Enterprises Common Shares Class A Fortress Paper Ltd. 1 08/09/2017 38 0 -49,800 Inc. (formerly Fortress Paper voting without par value Ltd.) Founders Advantage Capital Common Shares Class A Bell, James Geral 4 12/02/2018 11 2.05 76,647 -7,500 Corp. Founders Advantage Capital Common Shares Class A Bell, James Geral 4 12/02/2018 11 2.05 27,250 7,500 Corp. Founders Advantage Capital Common Shares Class A Harrington Global Limited 3 09/02/2018 10 2.1277 4,855,329 83,700 Corp. Founders Advantage Capital Common Shares Class A Harrington Global Limited 3 13/02/2018 10 2.1267 4,894,429 39,100 Corp. Founders Advantage Capital Common Shares Class A Harrington Global Limited 3 16/02/2018 10 2.1357 4,897,929 3,500 Corp. Founders Advantage Capital Common Shares Class A Harrington Global 3 09/02/2018 10 2.1277 4,855,329 83,700 Corp. Opportunities Fund Limited Founders Advantage Capital Common Shares Class A Harrington Global 3 13/02/2018 10 2.1267 4,894,429 39,100 Corp. Opportunities Fund Limited Founders Advantage Capital Common Shares Class A Harrington Global 3 16/02/2018 10 2.1357 4,897,929 3,500 Corp. Opportunities Fund Limited Founders Advantage Capital Common Shares Class A Kayat, Christopher Mark 4 03/01/2018 00 2,680,952 Corp. Founders Advantage Capital Common Shares Class A Kayat, Christopher Mark 4 09/02/2018 10 2.05 2,690,952 10,000 Corp. Founders Advantage Capital Common Shares Class A Mauris, Gary Brian 4 09/02/2018 10 2 2,578,452 25,000 Corp. Founders Advantage Capital Common Shares Class A Melanie, Litoski 5 12/02/2017 00 Corp. Founders Advantage Capital Common Shares Class A Melanie, Litoski 5 14/02/2018 10 2.18 4,500 4,500 Corp. FPX Nickel Corp. (formerly Options Gilbert, James 4 08/02/2018 52 650,000 -200,000 First Point Minerals Corp.) Franco-Nevada Corporation Deferred Share Units Albanese, Thomas 4 31/12/2017 56 6,352 2,473 Franco-Nevada Corporation Deferred Share Units Albanese, Thomas 4 31/12/2017 30 6,411 59 Franco-Nevada Corporation Common Shares Evans, Derek Watson 4 31/12/2017 30 14,135 81 Franco-Nevada Corporation Deferred Share Units Evans, Derek Watson 4 31/12/2017 56 13,936 2,473 Franco-Nevada Corporation Deferred Share Units Evans, Derek Watson 4 31/12/2017 30 14,089 153 Franco-Nevada Corporation Common Shares FARQUHARSON, 4 31/12/2017 30 75,946 403 GRAHAM Franco-Nevada Corporation Deferred Share Units FARQUHARSON, 4 31/12/2017 56 14,204 2,473 GRAHAM Franco-Nevada Corporation Deferred Share Units FARQUHARSON, 4 31/12/2017 30 14,361 157 GRAHAM Franco-Nevada Corporation Deferred Share Units Farrow, Catharine Elizabeth 4 31/12/2017 56 6,514 2,473 Goddard Franco-Nevada Corporation Deferred Share Units Farrow, Catharine Elizabeth 4 31/12/2017 30 6,575 61 Goddard Franco-Nevada Corporation Deferred Share Units Gignac, Louis P. 4 31/12/2017 56 10,374 2,237 Franco-Nevada Corporation Deferred Share Units Gignac, Louis P. 4 31/12/2017 30 10,485 111 Franco-Nevada Corporation Deferred Share Units Lassonde, Pierre 4 31/12/2017 56 9,738 2,000 Franco-Nevada Corporation Deferred Share Units Lassonde, Pierre 4 31/12/2017 30 9,843 105 Franco-Nevada Corporation Deferred Share Units Oliphant, Randall 4 31/12/2017 56 5,028 2,000 Franco-Nevada Corporation Deferred Share Units Oliphant, Randall 4 31/12/2017 30 5,075 47 Franco-Nevada Corporation Common Shares Peterson, David Robert 4 31/12/2017 30 15,401 193 Franco-Nevada Corporation Deferred Share Units Peterson, David Robert 4 31/12/2017 56 16,152 2,631 Franco-Nevada Corporation Deferred Share Units Peterson, David Robert 4 31/12/2017 30 16,331 179 Future Farm Technologies Options Stanley, Craig 4 12/01/2018 50 125,000 Inc. Future Farm Technologies Options Stanley, Craig 4 12/01/2018 38 225,000 125,000 Inc. Future Farm Technologies Options Stanley, Craig 4 08/02/2018 50 0.96 337,500 112,500 Inc.

February 22, 2018 (2018), 41 OSCB 1543

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Future Farm Technologies Options Tyldesley, Belinda 5 08/02/2018 50 0.96 287,500 112,500 Inc. Future Farm Technologies Options Tyldesley, Belinda 5 15/02/2018 38 1.24 162,500 -125,000 Inc. Gazit-Globe Ltd. Common Shares Ben Dor, Haim Michael 4 08/02/2018 10 33.26 86,993 12,000 Gensource Potash Common Shares Ferguson, Michael John 4, 5 09/02/2018 90 0.09 738,889 -61,111 Corporation Gensource Potash Common Shares Ferguson, Michael John 4, 5 09/02/2018 11 0.09 677,778 -61,111 Corporation Gensource Potash Common Shares Ferguson, Michael John 4, 5 09/02/2018 90 0.09 1,969,110 61,111 Corporation Genworth MI Canada Inc. Restricted Share Units Artinian, Vania 7 09/02/2018 57 41.63 2,189 -700 Genworth MI Canada Inc. Restricted Share Units Carbonelli, Cecilia 7 09/02/2018 57 41.63 2,485 -816 Genworth MI Canada Inc. Common Shares Hurley, Brian Leo 4, 5 14/02/2018 51 41.38 146,547 78,700 Genworth MI Canada Inc. Common Shares Hurley, Brian Leo 4, 5 14/02/2018 10 41.38 67,847 -78,700 Genworth MI Canada Inc. Options Hurley, Brian Leo 4, 5 14/02/2018 51 41.38 239,100 -78,700 Genworth MI Canada Inc. Restricted Share Units Levings, Stuart Kendrick 4 09/02/2018 57 41.63 16,242 -4,080 Genworth MI Canada Inc. Restricted Share Units Macdonell, Winsor James 5 09/02/2018 57 41.63 4,270 -1,516 Genworth MI Canada Inc. Restricted Share Units Mayers, Philip Adrian Virgil 5 09/02/2018 57 41.63 7,144 -2,448 Genworth MI Canada Inc. Restricted Share Units McPherson, Deborah Lynn 5 09/02/2018 57 41.63 4,481 -1,516 Genworth MI Canada Inc. Restricted Share Units Piroli, Robert John 5 09/02/2018 57 41.63 2,737 -1,049 Genworth MI Canada Inc. Restricted Share Units Sweeney, Craig 5 09/02/2018 57 41.63 3,654 -1,166 Genworth MI Canada Inc. Common Shares Watson, Timothy Scott 7 09/02/2018 57 41.63 937 933 Genworth MI Canada Inc. Common Shares Watson, Timothy Scott 7 09/02/2018 10 41.63 504 -433 Genworth MI Canada Inc. Restricted Share Units Watson, Timothy Scott 7 09/02/2018 57 41.63 2,991 -933 Genworth MI Canada Inc. Restricted Share Units Williams, Aaron James 7 09/02/2018 57 41.63 2,418 -816 Glyndwr GFG Resources Inc. Common Shares Awde, Jonathan Charles 4 09/02/2018 10 0.455 3,705,976 5,500 Timothy GFG Resources Inc. Common Shares Awde, Jonathan Charles 4 09/02/2018 10 0.455 3,723,476 17,500 Timothy GFG Resources Inc. Common Shares Awde, Jonathan Charles 4 09/02/2018 10 0.46 3,725,476 2,000 Timothy GFG Resources Inc. Common Shares Johnson, Rick 5 08/02/2018 10 0.46 134,000 20,000 Giyani Metals Corp. Common Shares Birchall, Robin Jonathan 4, 5 28/11/2017 00 Eckford Birchall Giyani Metals Corp. Common Shares Birchall, Robin Jonathan 4, 5 07/02/2018 16 0.275 200,000 Eckford Birchall Giyani Metals Corp. Common Shares Birchall, Robin Jonathan 4, 5 28/11/2017 00 Eckford Birchall Giyani Metals Corp. Common Shares Birchall, Robin Jonathan 4, 5 07/02/2018 16 0.275 200,000 Eckford Birchall Giyani Metals Corp. Common Shares Birchall, Robin Jonathan 4, 5 07/02/2018 16 0.275 200,000 200,000 Eckford Birchall Giyani Metals Corp. Warrants Birchall, Robin Jonathan 4, 5 28/11/2017 00 Eckford Birchall Giyani Metals Corp. Warrants Birchall, Robin Jonathan 4, 5 07/02/2018 16 100,000 Eckford Birchall Giyani Metals Corp. Warrants Birchall, Robin Jonathan 4, 5 28/11/2017 00 Eckford Birchall Giyani Metals Corp. Warrants Birchall, Robin Jonathan 4, 5 07/02/2018 16 100,000 100,000 Eckford Birchall Giyani Metals Corp. Common Shares Lee, Eugene 4 07/02/2018 16 0.275 57,216 29,091 Giyani Metals Corp. Warrants Lee, Eugene 4 25/06/2015 00 Giyani Metals Corp. Warrants Lee, Eugene 4 07/02/2018 16 0.4 14,546 14,546 Glance Technologies Inc. Common Shares Glance Technologies Inc. 1 06/02/2018 10 1 50,000 Glance Technologies Inc. Common Shares Glance Technologies Inc. 1 06/02/2018 38 1 50,000 50,000 Glance Technologies Inc. Common Shares Glance Technologies Inc. 1 06/02/2018 10 0.95 10,000 Glance Technologies Inc. Common Shares Glance Technologies Inc. 1 06/02/2018 38 0.95 60,000 10,000 Glance Technologies Inc. Common Shares Glance Technologies Inc. 1 08/02/2018 10 1.25 25,000 Glance Technologies Inc. Common Shares Glance Technologies Inc. 1 08/02/2018 10 1.25 25,000 Glance Technologies Inc. Common Shares Glance Technologies Inc. 1 08/02/2018 10 1.2 25,000 Glance Technologies Inc. Common Shares Glance Technologies Inc. 1 08/02/2018 10 1.2 25,000

February 22, 2018 (2018), 41 OSCB 1544

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Glance Technologies Inc. Common Shares Glance Technologies Inc. 1 08/02/2018 10 1.15 8,500 Glance Technologies Inc. Common Shares Glance Technologies Inc. 1 08/02/2018 10 1.15 8,500 Glance Technologies Inc. Common Shares Glance Technologies Inc. 1 08/02/2018 38 1.25 85,000 25,000 Glance Technologies Inc. Common Shares Glance Technologies Inc. 1 08/02/2018 38 1.2 110,000 25,000 Glance Technologies Inc. Common Shares Glance Technologies Inc. 1 08/02/2018 38 1.15 118,500 8,500 Glance Technologies Inc. Common Shares Glance Technologies Inc. 1 09/02/2018 38 1.15 135,000 16,500 Glance Technologies Inc. Common Shares Glance Technologies Inc. 1 13/02/2018 38 1.2 160,000 25,000 Glance Technologies Inc. Common Shares Glance Technologies Inc. 1 14/02/2018 38 1.18 210,000 50,000 Glance Technologies Inc. Common Shares Glance Technologies Inc. 1 14/02/2018 38 1.15 260,000 50,000 Glance Technologies Inc. Common Shares Glance Technologies Inc. 1 15/02/2018 38 1.1 310,000 50,000 Glance Technologies Inc. Common Shares Glance Technologies Inc. 1 15/02/2018 38 1.05 360,000 50,000 Glance Technologies Inc. Common Shares Green, Penny Olga 3, 4, 6, 5 02/02/2018 10 1.14 10,994,093 -5,000 Glance Technologies Inc. Common Shares Green, Penny Olga 3, 4, 6, 5 02/02/2018 10 1.13 10,989,093 -5,000 Glance Technologies Inc. Common Shares Green, Penny Olga 3, 4, 6, 5 02/02/2018 10 1.13 10,974,093 -15,000 Glance Technologies Inc. Common Shares Green, Penny Olga 3, 4, 6, 5 02/02/2018 10 1.13 10,968,593 -5,500 Global Hemp Group Inc. Common Shares Class A Huber, Curtis Ralph William 4 08/02/2018 54 0.05 892,849 542,849 Global Hemp Group Inc. Warrants Huber, Curtis Ralph William 4 17/11/2014 00 Global Hemp Group Inc. Warrants Huber, Curtis Ralph William 4 27/04/2015 53 0.05 542,849 542,849 Global Hemp Group Inc. Warrants Huber, Curtis Ralph William 4 08/02/2018 54 0.05 0 -542,849 Globalance Dividend Common Shares Equity Globalance Dividend 1 09/02/2018 38 8.7231 3,268,707 1,300 Growers Corp. Shares Growers Corp. Golden Dawn Minerals Inc. Common Shares Wiese, Wolfgang 4, 5 14/02/2018 10 0.2504 9,060,074 35,000 Golden Dawn Minerals Inc. Common Shares Wiese, Wolfgang 4, 5 14/02/2018 10 0.26 9,075,074 15,000 Golden Dawn Minerals Inc. Common Shares Wiese, Wolfgang 4, 5 15/02/2018 10 0.255 9,070,074 -5,000 Golden Dawn Minerals Inc. Common Shares Wiese, Wolfgang 4, 5 16/02/2018 10 0.255 9,065,074 -5,000 Golden Leaf Holdings Ltd. Options Eastwood, Craig Steven 5 15/01/2018 00 2,000,000 Thomas Golden Leaf Holdings Ltd. Options Eastwood, Craig Steven 5 31/01/2018 50 0.39 3,000,000 1,000,000 Thomas Golden Predator Mining Common Shares Class Lee-Sheriff, Janet 5 13/02/2018 15 0.7 971,082 286,000 Corp. "A" Golden Predator Mining Warrants Lee-Sheriff, Janet 5 17/10/2014 00 Corp. Golden Predator Mining Warrants Lee-Sheriff, Janet 5 13/02/2018 15 143,000 143,000 Corp. Golden Predator Mining Common Shares Class Sheriff, William Morris 4 13/02/2018 15 0.7 82,500 Corp. "A" Golden Predator Mining Common Shares Class Sheriff, William Morris 4 13/02/2018 15 0.91 10,890,300 82,500 Corp. "A" Golden Predator Mining Warrants Sheriff, William Morris 4 13/02/2018 15 1,941,250 41,250 Corp. GPM Metals Inc. Common Shares Mullens, Peter James 5 15/02/2018 00 544,000 GPM Metals Inc. Options Mullens, Peter James 5 15/02/2018 00 GPM Metals Inc. Warrants Mullens, Peter James 5 15/02/2018 00 Grande West Transportation Common Shares LaGourgue, John 4 15/02/2018 10 1.8 340,426 5,000 Group Inc. Granite Real Estate Trust Units (traded as a Granite Real Estate 1 01/02/2018 38 49.92 300 300 Investment Trust component of stapled Investment Trust units) Granite Real Estate Trust Units (traded as a Granite Real Estate 1 01/02/2018 38 0 -300 Investment Trust component of stapled Investment Trust units) Granite Real Estate Trust Units (traded as a Granite Real Estate 1 02/02/2018 38 49.949 25,800 25,800 Investment Trust component of stapled Investment Trust units) Granite Real Estate Trust Units (traded as a Granite Real Estate 1 02/02/2018 38 0 -25,800 Investment Trust component of stapled Investment Trust units) Granite Real Estate Trust Units (traded as a Granite Real Estate 1 05/02/2018 38 49.887 3,700 3,700 Investment Trust component of stapled Investment Trust units) Granite Real Estate Trust Units (traded as a Granite Real Estate 1 05/02/2018 38 0 -3,700 Investment Trust component of stapled Investment Trust units)

February 22, 2018 (2018), 41 OSCB 1545

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Granite Real Estate Trust Units (traded as a Granite Real Estate 1 06/02/2018 38 49.679 26,267 26,267 Investment Trust component of stapled Investment Trust units) Granite Real Estate Trust Units (traded as a Granite Real Estate 1 06/02/2018 38 0 -26,267 Investment Trust component of stapled Investment Trust units) Granite Real Estate Trust Units (traded as a Granite Real Estate 1 07/02/2018 38 49.395 26,267 26,267 Investment Trust component of stapled Investment Trust units) Granite Real Estate Trust Units (traded as a Granite Real Estate 1 07/02/2018 38 0 -26,267 Investment Trust component of stapled Investment Trust units) Granite Real Estate Trust Units (traded as a Granite Real Estate 1 08/02/2018 38 48.957 26,267 26,267 Investment Trust component of stapled Investment Trust units) Granite Real Estate Trust Units (traded as a Granite Real Estate 1 08/02/2018 38 0 -26,267 Investment Trust component of stapled Investment Trust units) Granite Real Estate Trust Units (traded as a Granite Real Estate 1 09/02/2018 38 48.302 26,267 26,267 Investment Trust component of stapled Investment Trust units) Granite Real Estate Trust Units (traded as a Granite Real Estate 1 09/02/2018 38 0 -26,267 Investment Trust component of stapled Investment Trust units) Granite Real Estate Trust Units (traded as a Granite Real Estate 1 09/02/2018 38 48.365 26,267 Investment Trust component of stapled Investment Trust units) Granite Real Estate Trust Units (traded as a Granite Real Estate 1 09/02/2018 38 48.365 26,267 Investment Trust component of stapled Investment Trust units) Granite Real Estate Trust Units (traded as a Granite Real Estate 1 12/02/2018 38 48.365 26,267 26,267 Investment Trust component of stapled Investment Trust units) Granite Real Estate Trust Units (traded as a Granite Real Estate 1 12/02/2018 38 0 -26,267 Investment Trust component of stapled Investment Trust units) Granite Real Estate Trust Units (traded as a Granite Real Estate 1 13/02/2018 38 48.582 25,600 25,600 Investment Trust component of stapled Investment Trust units) Granite Real Estate Trust Units (traded as a Granite Real Estate 1 13/02/2018 38 0 -25,600 Investment Trust component of stapled Investment Trust units) Granite Real Estate Trust Units (traded as a Granite Real Estate 1 14/02/2018 38 48.38 26,267 26,267 Investment Trust component of stapled Investment Trust units) Granite Real Estate Trust Units (traded as a Granite Real Estate 1 14/02/2018 38 0 -26,267 Investment Trust component of stapled Investment Trust units) Granite Real Estate Trust Units (traded as a Granite Real Estate 1 15/02/2018 38 48.443 26,267 26,267 Investment Trust component of stapled Investment Trust units) Granite Real Estate Trust Units (traded as a Granite Real Estate 1 15/02/2018 38 0 -26,267 Investment Trust component of stapled Investment Trust units) Granite REIT Inc. Common Shares (traded Granite REIT Inc. 1 01/02/2018 38 49.92 300 300 as a component of stapled units) Granite REIT Inc. Common Shares (traded Granite REIT Inc. 1 01/02/2018 38 0 -300 as a component of stapled units) Granite REIT Inc. Common Shares (traded Granite REIT Inc. 1 02/02/2018 38 49.949 25,800 25,800 as a component of stapled units) Granite REIT Inc. Common Shares (traded Granite REIT Inc. 1 02/02/2018 38 0 -25,800 as a component of stapled units) Granite REIT Inc. Common Shares (traded Granite REIT Inc. 1 05/02/2018 38 49.887 3,700 3,700 as a component of stapled units)

February 22, 2018 (2018), 41 OSCB 1546

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Granite REIT Inc. Common Shares (traded Granite REIT Inc. 1 05/02/2018 38 0 -3,700 as a component of stapled units) Granite REIT Inc. Common Shares (traded Granite REIT Inc. 1 06/02/2018 38 49.679 26,267 26,267 as a component of stapled units) Granite REIT Inc. Common Shares (traded Granite REIT Inc. 1 06/02/2018 38 0 -26,267 as a component of stapled units) Granite REIT Inc. Common Shares (traded Granite REIT Inc. 1 07/02/2018 38 49.395 26,267 26,267 as a component of stapled units) Granite REIT Inc. Common Shares (traded Granite REIT Inc. 1 07/02/2018 38 0 -26,267 as a component of stapled units) Granite REIT Inc. Common Shares (traded Granite REIT Inc. 1 08/02/2018 38 48.957 26,267 26,267 as a component of stapled units) Granite REIT Inc. Common Shares (traded Granite REIT Inc. 1 08/02/2018 38 0 -26,267 as a component of stapled units) Granite REIT Inc. Common Shares (traded Granite REIT Inc. 1 09/02/2018 38 48.302 26,267 26,267 as a component of stapled units) Granite REIT Inc. Common Shares (traded Granite REIT Inc. 1 09/02/2018 38 0 -26,267 as a component of stapled units) Granite REIT Inc. Common Shares (traded Granite REIT Inc. 1 12/02/2018 38 48.365 26,267 26,267 as a component of stapled units) Granite REIT Inc. Common Shares (traded Granite REIT Inc. 1 12/02/2018 38 0 -26,267 as a component of stapled units) Granite REIT Inc. Common Shares (traded Granite REIT Inc. 1 13/02/2018 38 48.582 25,600 25,600 as a component of stapled units) Granite REIT Inc. Common Shares (traded Granite REIT Inc. 1 13/02/2018 38 0 -25,600 as a component of stapled units) Granite REIT Inc. Common Shares (traded Granite REIT Inc. 1 14/02/2018 38 48.38 26,267 26,267 as a component of stapled units) Granite REIT Inc. Common Shares (traded Granite REIT Inc. 1 14/02/2018 38 0 -26,267 as a component of stapled units) Granite REIT Inc. Common Shares (traded Granite REIT Inc. 1 15/02/2018 38 48.443 26,267 26,267 as a component of stapled units) Granite REIT Inc. Common Shares (traded Granite REIT Inc. 1 15/02/2018 38 0 -26,267 as a component of stapled units) Granite REIT Inc. Deferred Share Units Manji, Samir Aziz 4 15/02/2018 35 48.45 1,122 5 Greenfields Petroleum Common Shares - New Clark, Gerald Francis 4 15/12/2017 10 0.13 53,921 40,000 Corporation Hamilton Thorne Ltd. Common Shares Spencer, Meg Moray 4, 5 06/02/2018 10 0.6201 450,499 -16,500 Hamilton Thorne Ltd. Common Shares Spencer, Meg Moray 4, 5 08/02/2018 10 0.6424 398,847 -51,652 Healthcare Special Trust Units Class A Units LDIC Inc. 3 12/02/2018 10 10.2 2,569,112 -500 Opportunities Fund Healthcare Special Trust Units Class A Units LDIC Inc. 3 12/02/2018 10 10.2 2,568,912 -200 Opportunities Fund Healthcare Special Trust Units Class A Units LDIC Inc. 3 12/02/2018 10 10.19 2,569,817 905 Opportunities Fund Healthcare Special Trust Units Class A Units LDIC Inc. 3 12/02/2018 10 10.194 2,570,522 705 Opportunities Fund Healthcare Special Trust Units Class A Units LDIC Inc. 3 12/02/2018 10 10.2 2,570,927 405 Opportunities Fund Healthcare Special Trust Units Class A Units LDIC Inc. 3 13/02/2018 10 10.2 2,570,627 -300 Opportunities Fund

February 22, 2018 (2018), 41 OSCB 1547

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Hemisphere Energy Common Shares SIMMONS, DON 5 15/02/2018 10 0.235 1,817,000 6,000 Corporation Hemisphere Energy Common Shares SIMMONS, DON 5 15/02/2018 10 0.23 1,820,000 3,000 Corporation Heritage Cannabis Holdings Common Shares Khersonski, Kristina 5 12/02/2018 10 0.65 0 -10,000 Corp. (formerly Umbral Energy Corp.) Heroux-Devtek Inc. Common Shares Fitzgibbon, Pierre 4 06/02/2018 00 8,300 Hillcrest Petroleum Ltd. Common Shares Currie, Donald James 4, 5 12/02/2018 10 0.05 5,521,000 200,000 Hillcrest Petroleum Ltd. Common Shares Krzus, Michael 4 13/02/2018 10 0.05 4,300,000 100,000 Hudbay Minerals Inc. Common Shares GMT Capital Corp 3 12/02/2018 10 7.66 7,590,390 -41,200 (formerly HudBay Minerals Inc.) Hudbay Minerals Inc. Common Shares GMT Capital Corp 3 12/02/2018 10 7.66 8,641,420 -46,900 (formerly HudBay Minerals Inc.) Hudbay Minerals Inc. Common Shares GMT Capital Corp 3 12/02/2018 10 7.66 470,000 -2,600 (formerly HudBay Minerals Inc.) Hudbay Minerals Inc. Common Shares GMT Capital Corp 3 12/02/2018 10 7.66 1,098,000 -5,900 (formerly HudBay Minerals Inc.) Hudson's Bay Company Common Shares Baker, Robert C. 4 13/02/2018 47 1,286,800 1,000,000 Hudson's Bay Company Common Shares Baker, Robert C. 4 13/02/2018 47 3,259,295 -1,000,000 Hudson's Bay Company Common Shares L&T B (Cayman) Inc. 3 13/02/2018 47 1,286,800 1,000,000 Hudson's Bay Company Common Shares L&T B (Cayman) Inc. 3 13/02/2018 47 3,259,295 -1,000,000 ICC Labs Inc. (formerly ICC Common Shares Young, Michael 4 12/02/2018 10 1.5 75,000 -45,300 International Cannabis Corporation) IGM Financial Inc. Common Shares McArthur, Susan J. 4 06/05/2016 00 IGM Financial Inc. Common Shares McArthur, Susan J. 4 14/02/2018 10 39.27 1,000 1,000 Ikkuma Resources Corp. Common Shares Anderson, David Garfield 4 22/09/2017 10 0.7 26,000 Ikkuma Resources Corp. Common Shares Anderson, David Garfield 4 25/09/2017 10 0.7 4,000 Ikkuma Resources Corp. Common Shares Anderson, David Garfield 4 27/09/2017 10 0.7 10,000 Ikkuma Resources Corp. Common Shares Anderson, David Garfield 4 01/12/2017 10 0.46 50,000 Ikkuma Resources Corp. Common Shares Anderson, David Garfield 4 22/09/2017 10 0.7 26,000 26,000 Ikkuma Resources Corp. Common Shares Anderson, David Garfield 4 25/09/2017 10 0.7 30,000 4,000 Ikkuma Resources Corp. Common Shares Anderson, David Garfield 4 27/09/2017 10 0.7 40,000 10,000 Ikkuma Resources Corp. Common Shares Anderson, David Garfield 4 01/12/2017 10 0.46 90,000 50,000 Ikkuma Resources Corp. Common Shares Anderson, David Garfield 4 09/02/2018 10 0.3 295,000 100,000 Ikkuma Resources Corp. Common Shares Anderson, David Garfield 4 09/02/2018 10 0.3 320,000 25,000 Ikkuma Resources Corp. Common Shares Anderson, David Garfield 4 09/02/2018 10 0.3 345,000 25,000 Ikkuma Resources Corp. Common Shares Van de Pol, John 5 15/02/2018 10 0.3 300,000 25,000 Immunovaccine Inc. Common Shares Labbé, Pierre 5 12/02/2018 10 1.89 295,800 20,800 Immunovaccine Inc. Common Shares Labbé, Pierre 5 13/02/2018 10 1.89 298,500 2,700 Immunovaccine Inc. Common Shares Ors, Frederic 4 13/02/2018 10 1.8841 322,600 16,000 Imperial Metals Corporation Common Shares Fairholme Capital 3 07/02/2018 10 2.42 11,089,484 12,700 Management, L.L.C. Imperial Metals Corporation Common Shares Fairholme Capital 3 08/02/2018 10 2.35 11,112,484 23,000 Management, L.L.C. Imperial Metals Corporation Common Shares Fairholme Capital 3 09/02/2018 10 2.27 11,141,484 29,000 Management, L.L.C. Imperial Metals Corporation Common Shares Fairholme Capital 3 12/02/2018 10 2.23 11,021,184 -120,300 Management, L.L.C. Imperial Metals Corporation Common Shares Fairholme Capital 3 13/02/2018 10 2.23 10,638,074 -383,110 Management, L.L.C. Imperial Metals Corporation Common Shares Fairholme Capital 3 14/02/2018 10 2.24 10,549,974 -88,100 Management, L.L.C. Imperial Metals Corporation Common Shares Fairholme Capital 3 15/02/2018 10 2.23 10,401,121 -148,853 Management, L.L.C. Imperial Oil Limited Common Shares Exxon Mobil Corporation 3 08/02/2018 38 35.11 578,390,982 -153,067 Imperial Oil Limited Common Shares Exxon Mobil Corporation 3 09/02/2018 38 35.2 578,236,718 -154,264 Imperial Oil Limited Common Shares Exxon Mobil Corporation 3 12/02/2018 38 35.35 578,081,739 -154,979 Imperial Oil Limited Common Shares Exxon Mobil Corporation 3 13/02/2018 38 34.4 577,927,827 -153,912

February 22, 2018 (2018), 41 OSCB 1548

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Imperial Oil Limited Common Shares Exxon Mobil Corporation 3 14/02/2018 38 34.69 577,769,831 -157,996 Imperial Oil Limited Common Shares Imperial Oil Limited 1 08/02/2018 38 35.296 66,857 66,857 Imperial Oil Limited Common Shares Imperial Oil Limited 1 08/02/2018 38 32.296 0 -66,857 Imperial Oil Limited Common Shares Imperial Oil Limited 1 08/02/2018 38 35.11 153,067 153,067 Imperial Oil Limited Common Shares Imperial Oil Limited 1 08/02/2018 38 35.11 0 -153,067 Imperial Oil Limited Common Shares Imperial Oil Limited 1 09/02/2018 38 35.11 67,380 67,380 Imperial Oil Limited Common Shares Imperial Oil Limited 1 09/02/2018 38 35.11 0 -67,380 Imperial Oil Limited Common Shares Imperial Oil Limited 1 09/02/2018 38 35.2 154,264 154,264 Imperial Oil Limited Common Shares Imperial Oil Limited 1 09/02/2018 38 35.2 0 -154,264 Imperial Oil Limited Common Shares Imperial Oil Limited 1 12/02/2018 38 35.336 67,692 67,692 Imperial Oil Limited Common Shares Imperial Oil Limited 1 12/02/2018 38 35.336 0 -67,692 Imperial Oil Limited Common Shares Imperial Oil Limited 1 12/02/2018 38 35.35 154,979 154,979 Imperial Oil Limited Common Shares Imperial Oil Limited 1 12/02/2018 38 35.35 0 -154,979 Imperial Oil Limited Common Shares Imperial Oil Limited 1 13/02/2018 38 34.449 67,226 67,226 Imperial Oil Limited Common Shares Imperial Oil Limited 1 13/02/2018 38 34.449 0 -67,226 Imperial Oil Limited Common Shares Imperial Oil Limited 1 13/02/2018 38 34.4 153,912 153,912 Imperial Oil Limited Common Shares Imperial Oil Limited 1 13/02/2018 38 34.4 0 -153,912 Imperial Oil Limited Common Shares Imperial Oil Limited 1 14/02/2018 38 34.442 69,010 69,010 Imperial Oil Limited Common Shares Imperial Oil Limited 1 14/02/2018 38 34.442 0 -69,010 Imperial Oil Limited Common Shares Imperial Oil Limited 1 14/02/2018 38 34.69 157,996 157,996 Imperial Oil Limited Common Shares Imperial Oil Limited 1 14/02/2018 38 34.69 0 -157,996 Inca One Gold Corp. Common Shares Kelly, Edward John 4 18/12/2017 10 0.065 600,000 Inca One Gold Corp. Common Shares Kelly, Edward John 4 18/12/2017 10 0.065 944,127 -600,000 Inca One Gold Corp. Common Shares Kelly, Edward John 4 09/02/2018 10 0.08 1,469,127 1,000 Inca One Gold Corp. Common Shares Kelly, Edward John 4 12/02/2018 10 0.08 1,470,127 1,000 Inca One Gold Corp. Common Shares Kelly, Edward John 4 12/02/2018 10 0.08 1,471,127 1,000 Inca One Gold Corp. Common Shares Kelly, Edward John 4 13/02/2018 10 0.08 1,472,127 1,000 Inca One Gold Corp. Common Shares Kelly, Edward John 4 14/02/2018 10 0.08 1,473,127 1,000 Inca One Gold Corp. Common Shares Kelly, Edward John 4 14/02/2018 10 0.085 1,474,127 1,000 Inca One Gold Corp. Common Shares Kelly, Edward John 4 15/02/2018 10 0.085 1,475,127 1,000 Indigo Books & Music Inc. Common Shares Flynn, Kathleen 5 09/02/2018 51 10.7 1,300 1,300 Indigo Books & Music Inc. Common Shares Flynn, Kathleen 5 09/02/2018 10 18.98 0 -1,300 Indigo Books & Music Inc. Common Shares Flynn, Kathleen 5 12/02/2018 51 10.7 8,700 8,700 Indigo Books & Music Inc. Common Shares Flynn, Kathleen 5 12/02/2018 10 18.928 0 -8,700 Indigo Books & Music Inc. Common Shares Flynn, Kathleen 5 14/02/2018 51 10.7 5,600 5,600 Indigo Books & Music Inc. Common Shares Flynn, Kathleen 5 14/02/2018 10 19.02 0 -5,600 Indigo Books & Music Inc. Options Flynn, Kathleen 5 09/02/2018 51 10.7 174,000 -1,300 Indigo Books & Music Inc. Options Flynn, Kathleen 5 12/02/2018 51 10.7 165,300 -8,700 Indigo Books & Music Inc. Options Flynn, Kathleen 5 14/02/2018 51 10.7 159,700 -5,600 Indigo Books & Music Inc. Common Shares Schwartz, Gerald Wilfred 3, 4, 6 08/02/2018 10 18.9 7,686,539 700 Indigo Books & Music Inc. Common Shares Schwartz, Gerald Wilfred 3, 4, 6 09/02/2018 10 18.942 7,691,839 5,300 Indigo Books & Music Inc. Common Shares Schwartz, Gerald Wilfred 3, 4, 6 12/02/2018 10 18.884 7,694,839 3,000 Indigo Books & Music Inc. Common Shares Schwartz, Gerald Wilfred 3, 4, 6 13/02/2018 10 19 7,696,539 1,700 Indigo Books & Music Inc. Common Shares Schwartz, Gerald Wilfred 3, 4, 6 14/02/2018 10 18.999 7,702,539 6,000 Indigo Books & Music Inc. Common Shares Schwartz, Gerald Wilfred 3, 4, 6 15/02/2018 10 18.996 7,712,939 10,400 Industrial Alliance Insurance unités d'actions différées Boulet, Jean-François 5 15/02/2018 56 58.73 6,974 313 and Financial Services inc. (uda)-differed shared units (dsa) Industrial Alliance Insurance Unites d'actions liees au Boulet, Jean-François 5 23/02/2004 00 and Financial Services inc. rendement / Performance Share Unit Industrial Alliance Insurance Unites d'actions liees au Boulet, Jean-François 5 09/02/2018 56 60.58 761 761 and Financial Services inc. rendement / Performance Share Unit Industrial Alliance Insurance Options Chabot, René 5 09/02/2018 50 58.43 168,000 30,000 and Financial Services inc. Industrial Alliance Insurance Unites d'actions liees au Chabot, René 5 09/02/2018 56 60.58 10,232 2,284 and Financial Services inc. rendement / Performance Share Unit Industrial Alliance Insurance Options Charest, Yvon 4, 5 09/02/2018 50 58.43 573,000 45,000 and Financial Services inc.

February 22, 2018 (2018), 41 OSCB 1549

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Industrial Alliance Insurance unités d'actions différées Charest, Yvon 4, 5 15/02/2018 56 58.73 108,011 4,256 and Financial Services inc. (uda)-differed shared units (dsa) Industrial Alliance Insurance Unites d'actions liees au Charest, Yvon 4, 5 09/02/2018 56 60.58 21,364 4,321 and Financial Services inc. rendement / Performance Share Unit Industrial Alliance Insurance Unites d'actions liees au Daneau, Guy 5 15/08/2006 00 and Financial Services inc. rendement / Performance Share Unit Industrial Alliance Insurance Unites d'actions liees au Daneau, Guy 5 09/02/2018 56 60.58 792 792 and Financial Services inc. rendement / Performance Share Unit Industrial Alliance Insurance unités d'actions différées Dibblee, Jennifer 5 15/02/2018 56 58.73 629 265 and Financial Services inc. (uda)-differed shared units (dsa) Industrial Alliance Insurance Unites d'actions liees au Dibblee, Jennifer 5 30/09/2015 00 and Financial Services inc. rendement / Performance Share Unit Industrial Alliance Insurance Unites d'actions liees au Dibblee, Jennifer 5 09/02/2018 56 60.58 449 449 and Financial Services inc. rendement / Performance Share Unit Industrial Alliance Insurance unités d'actions différées Gervais, Normand 5 15/02/2018 56 58.73 2,697 228 and Financial Services inc. (uda)-differed shared units (dsa) Industrial Alliance Insurance Unites d'actions liees au Gervais, Normand 5 13/02/2015 00 and Financial Services inc. rendement / Performance Share Unit Industrial Alliance Insurance Unites d'actions liees au Gervais, Normand 5 09/02/2018 56 60.58 475 475 and Financial Services inc. rendement / Performance Share Unit Industrial Alliance Insurance Unites d'actions liees au Gignac, Clément 5 03/12/2012 00 and Financial Services inc. rendement / Performance Share Unit Industrial Alliance Insurance Unites d'actions liees au Gignac, Clément 5 09/02/2018 56 60.58 1,065 1,065 and Financial Services inc. rendement / Performance Share Unit Industrial Alliance Insurance Options Laflamme, Renée 5 09/02/2018 50 58.43 130,000 30,000 and Financial Services inc. Industrial Alliance Insurance unités d'actions différées Laflamme, Renée 5 15/02/2018 56 58.73 8,719 1,057 and Financial Services inc. (uda)-differed shared units (dsa) Industrial Alliance Insurance Unites d'actions liees au Laflamme, Renée 5 09/02/2018 56 60.58 5,433 1,857 and Financial Services inc. rendement / Performance Share Unit Industrial Alliance Insurance Options Mustos, Carl Andrew 7, 5 09/02/2018 50 58.43 168,000 35,000 and Financial Services inc. Industrial Alliance Insurance Unites d'actions liees au Mustos, Carl Andrew 7, 5 09/02/2018 56 60.58 10,105 2,284 and Financial Services inc. rendement / Performance Share Unit Industrial Alliance Insurance unités d'actions différées Parent, Jacques 5 15/02/2018 56 58.73 2,898 263 and Financial Services inc. (uda)-differed shared units (dsa) Industrial Alliance Insurance Options Pépin, Normand 5 09/02/2018 50 58.43 319,000 35,000 and Financial Services inc. Industrial Alliance Insurance unités d'actions différées Pépin, Normand 5 15/02/2018 56 58.73 78,878 4,179 and Financial Services inc. (uda)-differed shared units (dsa) Industrial Alliance Insurance Unites d'actions liees au Pépin, Normand 5 09/02/2018 56 60.58 14,477 2,928 and Financial Services inc. rendement / Performance Share Unit Industrial Alliance Insurance Options Potvin, Jacques 5 16/02/2018 00 49,000 and Financial Services inc. Industrial Alliance Insurance unités d'actions différées Potvin, Jacques 5 15/02/2018 56 58.73 658 and Financial Services inc. (uda)-differed shared units (dsa) Industrial Alliance Insurance unités d'actions différées Potvin, Jacques 5 15/02/2018 56 58.73 658 and Financial Services inc. (uda)-differed shared units (dsa)

February 22, 2018 (2018), 41 OSCB 1550

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Industrial Alliance Insurance unités d'actions différées Potvin, Jacques 5 16/02/2018 00 and Financial Services inc. (uda)-differed shared units (dsa) Industrial Alliance Insurance unités d'actions différées Potvin, Jacques 5 16/02/2018 00 3,718 and Financial Services inc. (uda)-differed shared units (dsa) Industrial Alliance Insurance Options Ricard, Denis 5 09/02/2018 50 58.43 223,000 40,000 and Financial Services inc. Industrial Alliance Insurance unités d'actions différées Ricard, Denis 5 15/02/2018 56 58.73 34,126 1,710 and Financial Services inc. (uda)-differed shared units (dsa) Industrial Alliance Insurance Unites d'actions liees au Ricard, Denis 5 09/02/2018 56 60.58 11,437 2,944 and Financial Services inc. rendement / Performance Share Unit Industrial Alliance Insurance Options Stickney, Michael Lee 5 09/02/2018 50 58.43 224,500 23,000 and Financial Services inc. Industrial Alliance Insurance Unites d'actions liees au Stickney, Michael Lee 5 09/02/2018 56 60.58 8,776 1,774 and Financial Services inc. rendement / Performance Share Unit Industrial Alliance Insurance Options Tremblay, Michel 5 09/02/2018 50 58.43 170,000 40,000 and Financial Services inc. Industrial Alliance Insurance Unites d'actions liees au Tremblay, Michel 5 09/02/2018 56 60.58 13,807 2,793 and Financial Services inc. rendement / Performance Share Unit InMed Pharmaceuticals Inc. Common Shares Cutler, Adam 4 06/02/2018 10 1.086 0 -50,000 Innergex Renewable Energy Common Shares Beaty, Ross J. 4 06/02/2018 00 8,248,000 Inc. Innergex Renewable Energy Common Shares Beaty, Ross J. 4 06/02/2018 00 639,759 Inc. Innergex Renewable Energy Common Shares Beaty, Ross J. 4 06/02/2018 00 617,493 Inc. Innergex Renewable Energy Common Shares Perron, Jean 5 31/12/2017 35 14.556 118 Inc. Innergex Renewable Energy Common Shares Perron, Jean 5 31/12/2017 35 14.556 118 Inc. Innergex Renewable Energy Common Shares Perron, Jean 5 31/12/2017 35 14.503 121 Inc. Innergex Renewable Energy Common Shares Perron, Jean 5 31/12/2017 35 14.503 121 Inc. Innergex Renewable Energy Common Shares Perron, Jean 5 31/12/2017 35 14.723 120 Inc. Innergex Renewable Energy Common Shares Perron, Jean 5 31/12/2017 35 14.723 120 Inc. Innergex Renewable Energy Unités d'actions différées Perron, Jean 5 31/12/2017 35 14.556 10,668 118 Inc. (UAD)/Deferred Shares Units (DSU) Innergex Renewable Energy Unités d'actions différées Perron, Jean 5 31/12/2017 35 14.503 10,789 121 Inc. (UAD)/Deferred Shares Units (DSU) Innergex Renewable Energy Unités d'actions différées Perron, Jean 5 31/12/2017 35 14.723 10,909 120 Inc. (UAD)/Deferred Shares Units (DSU) Intact Financial Corporation Common Shares Coull-Cicchini, Debra Gail 5 14/02/2018 57 96.86 11,895 576 Intact Financial Corporation Stock Incentives Coull-Cicchini, Debra Gail 5 14/02/2018 57 96.86 1,406 -1,239 Integra Resources Corp. Common Shares De Jong, Stephen Edward 4, 5 09/02/2018 10 1.32 2,324,582 15,000 (formerly, Mag Copper Limited) INTEGRATED ASSET Common Shares Integrated Asset 1 12/02/2018 38 1.45 135,400 135,400 MANAGEMENT CORP. Management Corp INTEGRATED ASSET Common Shares Integrated Asset 1 12/02/2018 38 1.45 0 -135,400 MANAGEMENT CORP. Management Corp Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.39 93,150 -700 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.4 92,850 -300 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.41 92,600 -250 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.42 92,000 -600 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.43 90,700 -1,300 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.44 88,800 -1,900

February 22, 2018 (2018), 41 OSCB 1551

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.45 87,400 -1,400 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.455 87,300 -100 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.46 83,400 -3,900 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.47 82,200 -1,200 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.48 80,500 -1,700 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.49 76,400 -4,100 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.495 75,900 -500 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.5 72,900 -3,000 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.51 68,000 -4,900 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.515 67,800 -200 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.52 63,900 -3,900 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.53 59,700 -4,200 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.535 59,400 -300 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.54 52,900 -6,500 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.545 52,600 -300 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.55 48,100 -4,500 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.555 47,800 -300 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.56 42,600 -5,200 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.565 42,500 -100 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.57 36,000 -6,500 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.575 35,900 -100 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.58 30,900 -5,000 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.585 30,800 -100 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.59 27,900 -2,900 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.6 22,400 -5,500 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.61 18,800 -3,600 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.615 18,600 -200 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.62 16,600 -2,000 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.63 15,800 -800 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.64 13,800 -2,000 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.65 12,900 -900 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.67 12,600 -300 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.68 10,800 -1,800 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.69 9,600 -1,200 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.7 8,400 -1,200 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.71 7,100 -1,300 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.715 7,000 -100 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.72 6,900 -100 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.73 6,500 -400 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.74 4,800 -1,700 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.75 4,200 -600 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.755 4,100 -100 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.76 3,700 -400 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.78 2,600 -1,100 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.79 2,000 -600 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.805 1,900 -100 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.81 1,500 -400 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.82 900 -600 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.825 700 -200 Interfor Corporation Common Shares Horning, John Allen 5 13/02/2018 10 23.83 0 -700 Interfor Corporation Options Kritsos, Xenia 5 07/02/2018 50 31,819 8,838 Interfor Corporation Rights Performance Share Stock, Mark 5 07/02/2018 56 43,412 10,266 Units Intrinsyc Technologies Common Shares Intrinsyc Technologies 1 13/02/2018 10 1.27 600 600 Corporation Corporation Intrinsyc Technologies Common Shares Intrinsyc Technologies 1 13/02/2018 38 0 -600 Corporation Corporation Inventus Mining Corp. Common Shares Spears, Stephan Michael 6 12/02/2018 10 0.18 433,501 10,000 Seydegart

February 22, 2018 (2018), 41 OSCB 1552

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Inventus Mining Corp. Common Shares Spears, Stephan Michael 6 14/02/2018 10 0.195 443,501 10,000 Seydegart Invesque Inc. (formerly, Preferred Shares Class A Magnetar Financial, LLC 3 02/06/2016 00 Mainstreet Health Series 2 Convertible Investments Inc.) Preferred Shares Invesque Inc. (formerly, Preferred Shares Class A Magnetar Financial, LLC 3 09/02/2018 16 9.4575 792,735 792,735 Mainstreet Health Series 2 Convertible Investments Inc.) Preferred Shares Invesque Inc. (formerly, Preferred Shares Class A Magnetar Financial, LLC 3 02/06/2016 00 Mainstreet Health Series 2 Convertible Investments Inc.) Preferred Shares Invesque Inc. (formerly, Preferred Shares Class A Magnetar Financial, LLC 3 09/02/2018 16 9.4575 658,465 658,465 Mainstreet Health Series 2 Convertible Investments Inc.) Preferred Shares Invesque Inc. (formerly, Preferred Shares Class A Magnetar Financial, LLC 3 02/06/2016 00 Mainstreet Health Series 2 Convertible Investments Inc.) Preferred Shares Invesque Inc. (formerly, Preferred Shares Class A Magnetar Financial, LLC 3 09/02/2018 16 9.4575 532,800 532,800 Mainstreet Health Series 2 Convertible Investments Inc.) Preferred Shares Invesque Inc. (formerly, Preferred Shares Class A Magnetar Financial, LLC 3 02/06/2016 00 Mainstreet Health Series 2 Convertible Investments Inc.) Preferred Shares Invesque Inc. (formerly, Preferred Shares Class A Magnetar Financial, LLC 3 09/02/2018 16 9.4575 1,152,112 1,152,112 Mainstreet Health Series 2 Convertible Investments Inc.) Preferred Shares Invesque Inc. (formerly, Preferred Shares Class A Magnetar Financial, LLC 3 02/06/2016 00 Mainstreet Health Series 2 Convertible Investments Inc.) Preferred Shares Invesque Inc. (formerly, Preferred Shares Class A Magnetar Financial, LLC 3 09/02/2018 16 9.4575 35,974 35,974 Mainstreet Health Series 2 Convertible Investments Inc.) Preferred Shares Iron Bridge Resources Inc. Common Shares Bernhard, Dean 4, 5 21/08/2017 30 0.58 471,333 3,620 (formerly RMP Energy Inc.) Iron Bridge Resources Inc. Common Shares Bernhard, Dean 4, 5 19/09/2017 30 0.55 581,817 3,818 (formerly RMP Energy Inc.) Iron Bridge Resources Inc. Common Shares Bernhard, Dean 4, 5 19/10/2017 30 0.62 585,204 3,387 (formerly RMP Energy Inc.) Iron Bridge Resources Inc. Common Shares Bernhard, Dean 4, 5 17/11/2017 30 0.75 588,004 2,800 (formerly RMP Energy Inc.) Iron Bridge Resources Inc. Common Shares Bernhard, Dean 4, 5 20/12/2017 30 0.576 591,649 3,645 (formerly RMP Energy Inc.) Iron Bridge Resources Inc. Common Shares Bernhard, Dean 4, 5 19/01/2017 30 0.75 41,780 2,800 (formerly RMP Energy Inc.) Iron Bridge Resources Inc. Common Shares Bernhard, Dean 4, 5 21/02/2017 30 0.79 44,438 2,658 (formerly RMP Energy Inc.) Iron Bridge Resources Inc. Common Shares Bernhard, Dean 4, 5 21/03/2017 30 0.74 47,276 2,838 (formerly RMP Energy Inc.) Iron Bridge Resources Inc. Common Shares Bernhard, Dean 4, 5 20/04/2017 30 0.83 49,806 2,530 (formerly RMP Energy Inc.) Iron Bridge Resources Inc. Common Shares Bernhard, Dean 4, 5 18/05/2017 30 0.79 52,464 2,658 (formerly RMP Energy Inc.) Iron Bridge Resources Inc. Common Shares Bernhard, Dean 4, 5 20/06/2017 30 0.64 55,745 3,281 (formerly RMP Energy Inc.) Iron Bridge Resources Inc. Common Shares Bernhard, Dean 4, 5 21/07/2017 30 0.6 59,245 3,500 (formerly RMP Energy Inc.) Iron Bridge Resources Inc. Common Shares Smith, Jeremy 5 21/08/2017 30 0.58 1,795 1,795 (formerly RMP Energy Inc.) Iron Bridge Resources Inc. Common Shares Smith, Jeremy 5 19/09/2017 30 0.55 103,688 1,893 (formerly RMP Energy Inc.) Iron Bridge Resources Inc. Common Shares Smith, Jeremy 5 19/10/2017 30 0.62 105,368 1,680 (formerly RMP Energy Inc.) Iron Bridge Resources Inc. Common Shares Smith, Jeremy 5 17/11/2017 30 0.75 106,756 1,388 (formerly RMP Energy Inc.) Iron Bridge Resources Inc. Common Shares Smith, Jeremy 5 20/12/2017 30 0.576 108,564 1,808 (formerly RMP Energy Inc.) Itafos (formerly, MBAC Restricted Share Units Iorich, Evgenij 4 03/08/2017 00 54,000 Fertilizer Corp.)

February 22, 2018 (2018), 41 OSCB 1553

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Itafos (formerly, MBAC Restricted Share Units Iorich, Evgenij 4 06/02/2018 56 51,200 Fertilizer Corp.) Itafos (formerly, MBAC Restricted Share Units Iorich, Evgenij 4 06/02/2018 56 51,200 Fertilizer Corp.) Itafos (formerly, MBAC Restricted Share Units Iorich, Evgenij 4 06/02/2018 56 105,200 51,200 Fertilizer Corp.) Ivanhoe Mines Ltd. Common Shares Class A de Selliers de Moranville, 4 09/02/2018 10 2.8 433,400 13,400 Guy Jacques Ivanhoe Mines Ltd. Common Shares Class A de Selliers de Moranville, 4 09/02/2018 10 2.81 456,700 23,300 Guy Jacques Ivanhoe Mines Ltd. Common Shares Class A de Selliers de Moranville, 4 09/02/2018 10 2.82 481,300 24,600 Guy Jacques Ivanhoe Mines Ltd. Common Shares Class A de Selliers de Moranville, 4 09/02/2018 10 2.83 511,300 30,000 Guy Jacques Ivanhoe Mines Ltd. Common Shares Class A de Selliers de Moranville, 4 09/02/2018 10 2.85 520,000 8,700 Guy Jacques Jewett-Cameron Trading Common Shares Boone, Donald Mark 4, 5 08/02/2018 10 15 698,816 -100 Company Ltd. Kew Media Group Inc. Class B Shares Bristow, Julie Ann 4, 7 07/02/2018 22 8.83 344,818 19,818 Khalkos Exploration Inc. Common Shares Bureau, Roger 3, 4, 6 09/02/2018 10 0.85 12,784,000 10,000 Killam Apartment Real Estate Rights Restricted Units Buckle-McIntosh, Ruth Mary 5 13/02/2018 56 13.06 30,492 8,049 Investment Trust Killam Apartment Real Estate Rights Restricted Units Cleveland, Erin Nicole 5 13/02/2018 56 13.06 21,390 6,501 Investment Trust Killam Apartment Real Estate Rights Restricted Units Crowell, Pamela Florence 5 13/02/2018 56 13.06 24,601 6,346 Investment Trust Killam Apartment Real Estate Rights Restricted Units Fraser, Philip 4 13/02/2018 56 13.06 159,772 34,828 Investment Trust Killam Apartment Real Estate Rights Restricted Units Jackson, Jeremy Winston 5 13/02/2018 56 13.06 21,817 5,727 Investment Trust Killam Apartment Real Estate Rights Restricted Units McCarville, Colleen 5 13/02/2018 56 13.06 17,187 4,953 Investment Trust Killam Apartment Real Estate Rights Restricted Units McLean, Mike 5 13/02/2018 56 13.06 27,126 7,739 Investment Trust Killam Apartment Real Estate Rights Restricted Units Noseworthy, Dale 5 13/02/2018 56 13.06 31,654 10,642 Investment Trust Killam Apartment Real Estate Rights Restricted Units Richardson, Robert 4 13/02/2018 56 13.06 111,418 16,253 Investment Trust Kingsway Financial Services Common Shares Baqar, Hassan Raza 5 15/02/2018 10 5.6905 37,346 176 Inc. Kingsway Financial Services Common Shares Fitzgerald, John Taylor 4, 5 15/02/2018 10 5.6905 370,038 293 Inc. Maloney Fitzgerald Kingsway Financial Services Common Shares Hickey, William A. 5 15/02/2018 10 5.6905 75,056 262 Inc. Kingsway Financial Services Common Shares Swets, Jr., Larry Gene 3, 4, 5 15/02/2018 10 5.6905 707,865 366 Inc. Kinross Gold Corporation Common Shares Elliott, Thomas Ballantyne 5 13/02/2018 57 4.93 158,778 12,705 Kinross Gold Corporation Common Shares Elliott, Thomas Ballantyne 5 13/02/2018 10 4.93 158,772 -6 Kinross Gold Corporation Common Shares Elliott, Thomas Ballantyne 5 13/02/2018 57 4.93 164,690 5,918 Kinross Gold Corporation Common Shares Elliott, Thomas Ballantyne 5 13/02/2018 10 4.93 164,683 -7 Kinross Gold Corporation Common Shares Elliott, Thomas Ballantyne 5 15/02/2018 57 5.36 170,812 6,129 Kinross Gold Corporation Common Shares Elliott, Thomas Ballantyne 5 15/02/2018 10 5.36 170,806 -6 Kinross Gold Corporation Restricted Shares Elliott, Thomas Ballantyne 5 13/02/2018 56 3.73 147,201 4,171 Kinross Gold Corporation Restricted Shares Elliott, Thomas Ballantyne 5 13/02/2018 59 4.93 132,564 -14,637 Kinross Gold Corporation Restricted Shares Elliott, Thomas Ballantyne 5 13/02/2018 57 4.93 119,859 -12,705 Kinross Gold Corporation Restricted Shares Elliott, Thomas Ballantyne 5 13/02/2018 59 4.93 113,042 -6,817 Kinross Gold Corporation Restricted Shares Elliott, Thomas Ballantyne 5 13/02/2018 57 4.93 107,124 -5,918 Kinross Gold Corporation Restricted Shares Elliott, Thomas Ballantyne 5 15/02/2018 59 5.36 100,063 -7,061 Kinross Gold Corporation Restricted Shares Elliott, Thomas Ballantyne 5 15/02/2018 57 5.36 93,934 -6,129 Kinross Gold Corporation Common Shares Etter, Gregory Van 5 13/02/2018 57 4.93 49,686 47,009 Kinross Gold Corporation Common Shares Etter, Gregory Van 5 13/02/2018 57 4.93 66,576 16,890 Kinross Gold Corporation Common Shares Etter, Gregory Van 5 13/02/2018 10 4.93 49,021 -17,555 Kinross Gold Corporation Common Shares Etter, Gregory Van 5 15/02/2018 57 5.36 73,290 24,269 Kinross Gold Corporation Common Shares Etter, Gregory Van 5 15/02/2018 10 5.36 67,223 -6,067

February 22, 2018 (2018), 41 OSCB 1554

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Kinross Gold Corporation Restricted Shares Etter, Gregory Van 5 13/02/2018 56 3.73 378,544 7,171 Kinross Gold Corporation Restricted Shares Etter, Gregory Van 5 13/02/2018 57 4.93 331,535 -47,009 Kinross Gold Corporation Restricted Shares Etter, Gregory Van 5 13/02/2018 57 4.93 314,645 -16,890 Kinross Gold Corporation Restricted Shares Etter, Gregory Van 5 15/02/2018 57 5.36 290,376 -24,269 Kinross Gold Corporation Common Shares Giardini, Tony Serafino 5 13/02/2018 57 4.93 682,091 232,802 Kinross Gold Corporation Common Shares Giardini, Tony Serafino 5 13/02/2018 57 4.93 747,150 65,059 Kinross Gold Corporation Common Shares Giardini, Tony Serafino 5 13/02/2018 10 4.93 583,599 -163,551 Kinross Gold Corporation Common Shares Giardini, Tony Serafino 5 15/02/2018 59 5.36 -20,028 Kinross Gold Corporation Common Shares Giardini, Tony Serafino 5 15/02/2018 57 5.36 -20,188 Kinross Gold Corporation Common Shares Giardini, Tony Serafino 5 15/02/2018 57 5.36 603,787 20,188 Kinross Gold Corporation Common Shares Giardini, Tony Serafino 5 15/02/2018 10 5.36 603,781 -6 Kinross Gold Corporation Restricted Shares Giardini, Tony Serafino 5 13/02/2018 56 3.73 828,439 35,512 Kinross Gold Corporation Restricted Shares Giardini, Tony Serafino 5 13/02/2018 57 4.93 595,637 -232,802 Kinross Gold Corporation Restricted Shares Giardini, Tony Serafino 5 13/02/2018 57 4.93 530,578 -65,059 Kinross Gold Corporation Restricted Shares Giardini, Tony Serafino 5 15/02/2018 59 5.36 510,550 -20,028 Kinross Gold Corporation Restricted Shares Giardini, Tony Serafino 5 15/02/2018 57 5.36 490,362 -20,188 Kinross Gold Corporation Common Shares Gold, Geoffrey Peters 5 13/02/2018 57 4.93 551,496 121,260 Kinross Gold Corporation Common Shares Gold, Geoffrey Peters 5 13/02/2018 10 4.93 551,483 -13 Kinross Gold Corporation Common Shares Gold, Geoffrey Peters 5 13/02/2018 57 4.93 585,369 33,886 Kinross Gold Corporation Common Shares Gold, Geoffrey Peters 5 15/02/2018 57 5.36 604,010 18,641 Kinross Gold Corporation Common Shares Gold, Geoffrey Peters 5 15/02/2018 10 5.36 604,004 -6 Kinross Gold Corporation Restricted Shares Gold, Geoffrey Peters 5 13/02/2018 56 3.73 860,048 39,805 Kinross Gold Corporation Restricted Shares Gold, Geoffrey Peters 5 13/02/2018 59 4.93 720,364 -139,684 Kinross Gold Corporation Restricted Shares Gold, Geoffrey Peters 5 13/02/2018 57 4.93 599,104 -121,260 Kinross Gold Corporation Restricted Shares Gold, Geoffrey Peters 5 13/02/2018 59 4.93 560,068 -39,036 Kinross Gold Corporation Restricted Shares Gold, Geoffrey Peters 5 13/02/2018 57 4.93 526,182 -33,886 Kinross Gold Corporation Restricted Shares Gold, Geoffrey Peters 5 15/02/2018 59 5.36 504,708 -21,474 Kinross Gold Corporation Restricted Shares Gold, Geoffrey Peters 5 15/02/2018 57 5.36 486,067 -18,641 Kinross Gold Corporation Common Shares Jardine, Gina Maree 5 15/02/2018 57 5.36 58,282 8,217 Kinross Gold Corporation Common Shares Jardine, Gina Maree 5 15/02/2018 10 5.36 58,276 -6 Kinross Gold Corporation Restricted Shares Jardine, Gina Maree 5 15/02/2018 59 5.36 461,319 -9,467 Kinross Gold Corporation Restricted Shares Jardine, Gina Maree 5 15/02/2018 57 5.36 453,102 -8,217 Kinross Gold Corporation Common Shares Musgrove, Bobby Lee 5 13/02/2018 57 4.93 115,266 31,026 Kinross Gold Corporation Common Shares Musgrove, Bobby Lee 5 13/02/2018 57 4.93 126,414 11,148 Kinross Gold Corporation Common Shares Musgrove, Bobby Lee 5 13/02/2018 10 4.93 114,160 -12,254 Kinross Gold Corporation Common Shares Musgrove, Bobby Lee 5 15/02/2018 57 5.36 128,134 13,974 Kinross Gold Corporation Common Shares Musgrove, Bobby Lee 5 15/02/2018 10 5.36 124,710 -3,424 Kinross Gold Corporation Restricted Shares Musgrove, Bobby Lee 5 13/02/2018 56 3.73 187,539 4,733 Kinross Gold Corporation Restricted Shares Musgrove, Bobby Lee 5 13/02/2018 57 4.93 156,513 -31,026 Kinross Gold Corporation Restricted Shares Musgrove, Bobby Lee 5 13/02/2018 57 4.93 145,365 -11,148 Kinross Gold Corporation Restricted Shares Musgrove, Bobby Lee 5 15/02/2018 57 5.36 131,391 -13,974 Kinross Gold Corporation Common Shares Roberts, Lauren Martin 5 13/02/2018 59 4.93 178,440 32,182 Kinross Gold Corporation Common Shares Roberts, Lauren Martin 5 13/02/2018 10 4.93 178,429 -11 Kinross Gold Corporation Common Shares Roberts, Lauren Martin 5 13/02/2018 57 4.93 189,992 11,563 Kinross Gold Corporation Common Shares Roberts, Lauren Martin 5 15/02/2018 57 5.36 204,781 14,789 Kinross Gold Corporation Common Shares Roberts, Lauren Martin 5 15/02/2018 10 5.36 204,776 -5 Kinross Gold Corporation Restricted Shares Roberts, Lauren Martin 5 13/02/2018 56 3.73 333,401 10,564 Kinross Gold Corporation Restricted Shares Roberts, Lauren Martin 5 13/02/2018 59 4.93 296,329 -37,072 Kinross Gold Corporation Restricted Shares Roberts, Lauren Martin 5 13/02/2018 59 4.93 264,147 -32,182 Kinross Gold Corporation Restricted Shares Roberts, Lauren Martin 5 13/02/2018 59 4.93 250,827 -13,320 Kinross Gold Corporation Restricted Shares Roberts, Lauren Martin 5 13/02/2018 57 4.93 239,264 -11,563 Kinross Gold Corporation Restricted Shares Roberts, Lauren Martin 5 15/02/2018 59 5.36 222,227 -17,037 Kinross Gold Corporation Restricted Shares Roberts, Lauren Martin 5 15/02/2018 57 5.36 207,438 -14,789 Kinross Gold Corporation Common Shares Rollinson, Jonathon Paul 4, 5 13/02/2018 57 4.93 1,462,719 371,507 Kinross Gold Corporation Common Shares Rollinson, Jonathon Paul 4, 5 13/02/2018 10 4.93 1,462,706 -13 Kinross Gold Corporation Common Shares Rollinson, Jonathon Paul 4, 5 13/02/2018 57 4.93 1,524,997 62,291 Kinross Gold Corporation Common Shares Rollinson, Jonathon Paul 4, 5 15/02/2018 57 5.36 1,568,241 43,244 Kinross Gold Corporation Common Shares Rollinson, Jonathon Paul 4, 5 15/02/2018 10 5.36 1,568,235 -6

February 22, 2018 (2018), 41 OSCB 1555

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Kinross Gold Corporation Restricted Shares Rollinson, Jonathon Paul 4, 5 13/02/2018 56 3.73 2,210,047 121,951 Kinross Gold Corporation Restricted Shares Rollinson, Jonathon Paul 4, 5 13/02/2018 59 4.93 1,782,096 -427,951 Kinross Gold Corporation Restricted Shares Rollinson, Jonathon Paul 4, 5 13/02/2018 57 4.93 1,410,589 -371,507 Kinross Gold Corporation Restricted Shares Rollinson, Jonathon Paul 4, 5 13/02/2018 59 4.93 1,338,832 -71,757 Kinross Gold Corporation Restricted Shares Rollinson, Jonathon Paul 4, 5 13/02/2018 57 4.93 1,276,541 -62,291 Kinross Gold Corporation Restricted Shares Rollinson, Jonathon Paul 4, 5 15/02/2018 59 5.36 1,226,727 -49,814 Kinross Gold Corporation Restricted Shares Rollinson, Jonathon Paul 4, 5 15/02/2018 57 5.36 1,183,483 -43,244 Kinross Gold Corporation Common Shares Schimper, Claude J.S. 5 13/02/2018 57 4.93 57,659 32,907 Kinross Gold Corporation Common Shares Schimper, Claude J.S. 5 13/02/2018 57 4.93 69,482 11,823 Kinross Gold Corporation Common Shares Schimper, Claude J.S. 5 13/02/2018 10 4.93 69,469 -13 Kinross Gold Corporation Common Shares Schimper, Claude J.S. 5 15/02/2018 57 5.36 82,087 12,618 Kinross Gold Corporation Common Shares Schimper, Claude J.S. 5 15/02/2018 10 5.36 82,081 -6 Kinross Gold Corporation Restricted Shares Schimper, Claude J.S. 5 13/02/2018 56 3.73 152,835 5,020 Kinross Gold Corporation Restricted Shares Schimper, Claude J.S. 5 13/02/2018 57 4.93 119,928 -32,907 Kinross Gold Corporation Restricted Shares Schimper, Claude J.S. 5 13/02/2018 57 4.93 108,105 -11,823 Kinross Gold Corporation Restricted Shares Schimper, Claude J.S. 5 15/02/2018 57 5.36 95,487 -12,618 Kinross Gold Corporation Common Shares Sims, John Lewis 5 13/02/2018 57 4.93 21,555 8,466 Kinross Gold Corporation Common Shares Sims, John Lewis 5 13/02/2018 10 4.93 16,884 -4,671 Kinross Gold Corporation Common Shares Sims, John Lewis 5 13/02/2018 57 4.93 25,370 8,486 Kinross Gold Corporation Common Shares Sims, John Lewis 5 15/02/2018 57 5.36 29,251 3,881 Kinross Gold Corporation Common Shares Sims, John Lewis 5 15/02/2018 10 5.36 29,246 -5 Kinross Gold Corporation Restricted Shares Sims, John Lewis 5 13/02/2018 56 3.73 93,332 2,779 Kinross Gold Corporation Restricted Shares Sims, John Lewis 5 13/02/2018 59 4.93 83,578 -9,754 Kinross Gold Corporation Restricted Shares Sims, John Lewis 5 13/02/2018 57 4.93 75,112 -8,466 Kinross Gold Corporation Restricted Shares Sims, John Lewis 5 13/02/2018 57 4.93 66,626 -8,486 Kinross Gold Corporation Restricted Shares Sims, John Lewis 5 15/02/2018 59 5.36 62,154 -4,472 Kinross Gold Corporation Restricted Shares Sims, John Lewis 5 15/02/2018 57 5.36 58,273 -3,881 Kinross Gold Corporation Common Shares Sylvestre, Michel 5 15/02/2018 57 5.36 27,299 18,905 Kinross Gold Corporation Common Shares Sylvestre, Michel 5 15/02/2018 10 5.36 16,914 -10,385 Kinross Gold Corporation Restricted Shares Sylvestre, Michel 5 15/02/2018 57 5.36 140,939 -18,905 Kinross Gold Corporation Common Shares Tomory, Paul Botond 5 13/02/2018 57 4.93 124,080 49,947 Stilicho Kinross Gold Corporation Common Shares Tomory, Paul Botond 5 13/02/2018 57 4.93 142,026 17,946 Stilicho Kinross Gold Corporation Common Shares Tomory, Paul Botond 5 13/02/2018 10 4.93 104,738 -37,288 Stilicho Kinross Gold Corporation Common Shares Tomory, Paul Botond 5 15/02/2018 57 5.36 114,438 9,700 Stilicho Kinross Gold Corporation Common Shares Tomory, Paul Botond 5 15/02/2018 10 5.36 114,432 -6 Stilicho Kinross Gold Corporation Restricted Shares Tomory, Paul Botond 5 13/02/2018 56 3.73 226,136 7,619 Stilicho Kinross Gold Corporation Restricted Shares Tomory, Paul Botond 5 13/02/2018 57 4.93 176,189 -49,947 Stilicho Kinross Gold Corporation Restricted Shares Tomory, Paul Botond 5 13/02/2018 57 4.93 158,243 -17,946 Stilicho Kinross Gold Corporation Restricted Shares Tomory, Paul Botond 5 15/02/2018 59 5.36 147,068 -11,175 Stilicho Kinross Gold Corporation Restricted Shares Tomory, Paul Botond 5 15/02/2018 57 5.36 137,368 -9,700 Stilicho Knight Therapeutics Inc. Common Shares Khouri, Amal 5 15/12/2017 30 7.64 101,787 693 Knight Therapeutics Inc. Common Shares Khouri, Amal 5 15/12/2017 30 101,909 122 Kontrol Energy Corp. Common Shares Ghezzi, Paul 6 12/02/2018 10 1.15 11,644,500 10,500 Kontrol Energy Corp. Common Shares Ghezzi, Paul 6 13/02/2018 10 1.15 11,649,500 5,000 KuuHubb Inc. (formerly Common Shares Joki Capital Ou 3 06/02/2018 10 1.35 9,805,000 5,000 Delrand Resources Limited) Largo Resources Ltd. Common Shares Campbell, Robert Anderson 5 09/02/2018 10 1.12 333,562 -30,000 Largo Resources Ltd. Common Shares Campbell, Robert Anderson 5 09/02/2018 10 1.13 313,562 -20,000 Largo Resources Ltd. Common Shares Campbell, Robert Anderson 5 09/02/2018 10 1.14 303,562 -10,000 Largo Resources Ltd. Common Shares Campbell, Robert Anderson 5 09/02/2018 10 1.15 203,562 -100,000 Largo Resources Ltd. Common Shares Campbell, Robert Anderson 5 09/02/2018 10 1.1561 153,562 -50,000

February 22, 2018 (2018), 41 OSCB 1556

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Largo Resources Ltd. Common Shares Campbell, Robert Anderson 5 09/02/2018 10 1.16 138,562 -15,000 Largo Resources Ltd. Common Shares Campbell, Robert Anderson 5 09/02/2018 10 1.17 128,562 -10,000 Largo Resources Ltd. Common Shares Campbell, Robert Anderson 5 09/02/2018 10 1.19 98,562 -30,000 Largo Resources Ltd. Common Shares Campbell, Robert Anderson 5 14/02/2018 10 1.19 18,529 -80,033 LGC Capital Ltd. Common Shares Ghafari, Mohammed 4 13/02/2018 51 0.05 1,500,000 1,000,000 LGC Capital Ltd. Common Shares Ghafari, Mohammed 4 14/02/2018 51 0.05 2,500,000 1,000,000 LGC Capital Ltd. Options Ghafari, Mohammed 4 13/02/2018 51 1,500,000 -1,000,000 LGC Capital Ltd. Options Ghafari, Mohammed 4 14/02/2018 51 500,000 -1,000,000 LGC Capital Ltd. Common Shares Haddad, Mazen 3, 4, 5 13/02/2018 54 0.15 10,442,821 1,432,004 LGC Capital Ltd. Common Shares Haddad, Mazen 3, 4, 5 13/02/2018 51 0.064 11,486,500 1,043,679 LGC Capital Ltd. Options Haddad, Mazen 3, 4, 5 13/02/2018 51 4,000,000 -1,043,679 LGC Capital Ltd. Warrants Haddad, Mazen 3, 4, 5 13/02/2018 54 1,144,356 -1,432,004 LGC Capital Ltd. Common Shares Hazan, Rafi 4, 5 12/07/2006 00 LGC Capital Ltd. Common Shares Hazan, Rafi 4, 5 13/02/2018 51 0.05 496,500 496,500 LGC Capital Ltd. Options Hazan, Rafi 4, 5 13/02/2018 51 1,473,000 -496,500 LGC Capital Ltd. Common Shares McMullen, John A. D. 5 13/02/2018 51 0.05 2,714,788 2,105,600 LGC Capital Ltd. Common Shares McMullen, John A. D. 5 14/02/2018 51 0.05 3,214,788 500,000 LGC Capital Ltd. Options McMullen, John A. D. 5 13/02/2018 51 10,394,400 -2,105,600 LGC Capital Ltd. Options McMullen, John A. D. 5 14/02/2018 51 9,894,400 -500,000 LGC Capital Ltd. Common Shares Samaha, Anthony 4, 5 12/07/2016 00 LGC Capital Ltd. Common Shares Samaha, Anthony 4, 5 13/02/2018 51 0.064 1,500,000 1,500,000 LGC Capital Ltd. Options Samaha, Anthony 4, 5 13/02/2018 51 2,500,000 -1,500,000 Libero Copper Corporation Common Shares Bell, Robert Wiltshire 4 09/02/2018 11 2,014,000 784,000 (Formerly Libero Mining Corporation) Libero Copper Corporation Common Shares Eagle Mining Services 3 09/02/2018 11 0 -2,350,000 (Formerly Libero Mining Limited Corporation) Libero Copper Corporation Common Shares Slater, Ian 4, 5 12/08/2008 00 (Formerly Libero Mining Corporation) Libero Copper Corporation Common Shares Slater, Ian 4, 5 09/02/2018 11 1,566,000 1,566,000 (Formerly Libero Mining Corporation) Libero Copper Corporation Common Shares Slater, Ian 4, 5 15/02/2018 10 1,600,000 34,000 (Formerly Libero Mining Corporation) Liberty Gold Corp. (formerly Common Shares Everett, Calvin Clovis 5 09/02/2018 10 0.41 3,675,000 125,000 Pilot Gold Inc.) Liberty Gold Corp. (formerly Common Shares Everett, Calvin Clovis 5 09/02/2018 10 0.414 3,800,000 125,000 Pilot Gold Inc.) Liquor Stores N.A. Ltd. Common Shares Aurora Cannabis Inc 3 14/02/2018 00 Liquor Stores N.A. Ltd. Common Shares Aurora Cannabis Inc 3 14/02/2018 16 15 6,900,000 6,900,000 Lomiko Metals Inc. Common Shares Gill, Amrit Paul Singh 5 08/02/2018 10 0.115 1,133,110 1,500 Lomiko Metals Inc. Common Shares Gill, Amrit Paul Singh 5 09/02/2018 10 0.115 1,171,610 38,500 Lomiko Metals Inc. Common Shares Gill, Amrit Paul Singh 5 09/02/2018 10 0.115 1,221,610 50,000 Lomiko Metals Inc. Common Shares Gill, Amrit Paul Singh 5 09/02/2018 10 0.11 1,248,610 27,000 Lomiko Metals Inc. Common Shares Gill, Amrit Paul Singh 5 09/02/2018 10 0.12 1,251,610 3,000 Lomiko Metals Inc. Common Shares Gill, Amrit Paul Singh 5 09/02/2018 10 0.12 1,281,610 30,000 Lorne Park Capital Partners Common Shares Meehan, Stephen J. 4, 5 05/02/2018 11 0.4 5,822,661 2,500,000 Inc. Lorne Park Capital Partners Common Shares Sewell, Robert Darrell 4, 5 05/02/2018 11 0.4 13,934,500 2,500,000 Inc. Lucky Minerals Inc. stock options Rosner, Robert 4 07/02/2018 50 0.15 1,000,000 200,000 Lumina Gold Corp. Common Shares Benalcazar Rojas, Diego 5 12/02/2018 10 0.72 1,275,645 -100,000 Manuel LXRandCo, Inc. (formerly Class B Shares Mannella, Frederick 4 12/02/2018 10 5.25 3,976,384 9,500 Gibraltar Growth Corporation) M2 Cobalt Corp. Common Shares Harris, Graham 4 16/10/2017 00 M2 Cobalt Corp. Common Shares Harris, Graham 4 09/02/2018 10 0.68 6,000 6,000 M2 Cobalt Corp. Common Shares Harris, Graham 4 09/02/2018 10 0.67 30,000 24,000 M2 Cobalt Corp. Common Shares Harris, Graham 4 09/02/2018 10 0.66 39,500 9,500

February 22, 2018 (2018), 41 OSCB 1557

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed M2 Cobalt Corp. Common Shares Harris, Graham 4 12/02/2018 10 0.67 46,000 6,500 M2 Cobalt Corp. Common Shares Harris, Graham 4 13/02/2018 10 0.67 58,500 12,500 Maccabi Ventures Inc. Common Shares Dearman, Ronald Edward 3 14/02/2018 00 1,165,000 Madison Pacific Properties Non-Voting Shares Class Heung, Raymond 3 09/02/2018 10 3.21 8,258,517 -4,000 Inc. C Madison Pacific Properties Non-Voting Shares Class Heung, Raymond 3 09/02/2018 10 3.22 8,255,217 -3,300 Inc. C Madison Pacific Properties Non-Voting Shares Class Heung, Raymond 3 09/02/2018 10 3.2 8,253,017 -2,200 Inc. C Madison Pacific Properties Non-Voting Shares Class Heung, Raymond 3 09/02/2018 10 3.17 8,252,817 -200 Inc. C Madison Pacific Properties Non-Voting Shares Class Heung, Raymond 3 09/02/2018 10 3.16 8,247,817 -5,000 Inc. C Madison Pacific Properties Non-Voting Shares Class Heung, Raymond 3 09/02/2018 10 3.15 8,247,517 -300 Inc. C Madison Pacific Properties Non-Voting Shares Class Heung, Raymond 3 13/02/2018 10 3.2 8,231,517 -16,000 Inc. C Madison Pacific Properties Non-Voting Shares Class Heung, Raymond 3 13/02/2018 10 3.22 8,227,517 -4,000 Inc. C Madison Pacific Properties Non-Voting Shares Class Heung, Raymond 3 14/02/2018 10 3.22 8,223,317 -4,200 Inc. C Madison Pacific Properties Non-Voting Shares Class Heung, Raymond 3 14/02/2018 10 3.21 8,218,317 -5,000 Inc. C Madison Pacific Properties Non-Voting Shares Class Heung, Raymond 3 14/02/2018 10 3.2 8,212,517 -5,800 Inc. C Madison Pacific Properties Non-Voting Shares Class Madison Venture 3 13/02/2018 10 3.2 15,135,693 1,500 Inc. C Corporation Madison Pacific Properties Non-Voting Shares Class Madison Venture 3 14/02/2018 10 3.2 15,137,193 1,500 Inc. C Corporation Madison Pacific Properties Non-Voting Shares Class Madison Venture 3 15/02/2018 10 3.248 15,138,693 1,500 Inc. C Corporation Madison Pacific Properties Non-Voting Shares Class Madison Venture 3 16/02/2018 10 3.25 15,140,193 1,500 Inc. C Corporation Madison Pacific Properties Non-Voting Shares Class Madison Venture 3 16/02/2018 10 3.2475 15,140,593 400 Inc. C Corporation Madison Pacific Properties Non-Voting Shares Class Madison Venture 3 16/02/2018 10 3.25 15,141,693 1,100 Inc. C Corporation MAG Silver Corp. Common Shares Taddei, Larry 5 12/02/2018 97 12.01 86,861 2,495 MAG Silver Corp. RSU Taddei, Larry 5 12/02/2018 97 10.04 34,499 -2,495 Magna International Inc. Rights Restricted Stock Neeb, Marc Joseph 5 13/02/2018 56 56.37 20,428 1,224 Units Magna International Inc. Rights Restricted Stock Palmer, Jeffrey Owen 5 13/02/2018 56 56.37 81,711 4,895 Units Magna International Inc. Rights Restricted Stock Seguin, Francis 5 13/02/2018 56 56.37 18,767 2,393 Units Magna International Inc. Rights Restricted Stock Skudutis, Tommy Joseph 7, 5 13/02/2018 56 56.37 136,188 8,159 Units Magna International Inc. Rights Restricted Stock Tobin, Sr., James Joseph 5 13/02/2018 56 56.37 49,936 2,992 Units Mandalay Resources Common Shares GMT Capital Corp 3 12/02/2018 10 0.2 15,872,400 -800 Corporation Mandalay Resources Common Shares GMT Capital Corp 3 14/02/2018 10 0.2 15,861,600 -10,800 Corporation Mandalay Resources Common Shares GMT Capital Corp 3 12/02/2018 10 0.2 21,233,790 -1,000 Corporation Mandalay Resources Common Shares GMT Capital Corp 3 14/02/2018 10 0.2 21,219,390 -14,400 Corporation Mandalay Resources Common Shares GMT Capital Corp 3 12/02/2018 10 0.2 32,472,590 -1,500 Corporation Mandalay Resources Common Shares GMT Capital Corp 3 14/02/2018 10 0.2 32,450,490 -22,100 Corporation Mandalay Resources Common Shares GMT Capital Corp 3 12/02/2018 10 0.2 1,161,520 -100 Corporation Mandalay Resources Common Shares GMT Capital Corp 3 14/02/2018 10 0.2 1,160,720 -800 Corporation

February 22, 2018 (2018), 41 OSCB 1558

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Mandalay Resources Common Shares GMT Capital Corp 3 12/02/2018 10 0.2 2,786,300 -100 Corporation Mandalay Resources Common Shares GMT Capital Corp 3 14/02/2018 10 0.2 2,784,400 -1,900 Corporation Maple Gold Mines Ltd. Common Shares Charland, Sean 4 16/02/2018 10 0.295 195,000 30,000 (formerly Aurvista Gold Corporation) Maple Leaf Foods Inc. Common Shares Maple Leaf Foods Inc. 1 13/02/2018 38 33.996 4,000 4,000 Maple Leaf Foods Inc. Common Shares Maple Leaf Foods Inc. 1 13/02/2018 38 0 -4,000 Marapharm Ventures Inc. Common Shares Nieken, Yari 4 14/02/2018 10 0.82 0 -500,000 Marifil Mines Limited Common Shares McAulay, Alexander 5 01/09/2016 00 Marifil Mines Limited Common Shares McAulay, Alexander 5 30/01/2018 46 375,000 375,000 Marifil Mines Limited Options McAulay, Alexander 5 01/09/2016 00 Marifil Mines Limited Options McAulay, Alexander 5 06/02/2018 50 0.115 225,000 225,000 Marifil Mines Limited Common Shares Sweatman, Michael 4 16/02/2018 11 0.1 490,000 50,000 Marifil Mines Limited Warrants Sweatman, Michael 4 16/02/2018 11 0.1 162,500 50,000 Marret Resource Corp. Common Shares Guebert, David Dean 5 13/02/2018 97 0.086 161,049 27,907 Mawson Resources Limited Common Shares Goldcorp Inc. 3 14/02/2018 00 Mawson Resources Limited Common Shares Goldcorp Inc. 3 14/02/2018 16 0.45 18,000,000 18,000,000 Mawson Resources Limited Warrants Goldcorp Inc. 3 14/02/2018 00 Mawson Resources Limited Warrants Goldcorp Inc. 3 14/02/2018 16 0.65 9,000,000 9,000,000 Maxar Technologies Ltd. Common Shares Frazier, Leon Anthony 5 08/02/2018 57 57.51 13,435 1,109 Maxar Technologies Ltd. Common Shares Frazier, Leon Anthony 5 08/02/2018 10 57.51 13,046 -389 Maxar Technologies Ltd. Rights RSUs Frazier, Leon Anthony 5 08/02/2018 57 57.51 19,947 -1,109 Maxar Technologies Ltd. Common Shares Hascall, Timothy Mark 5 08/02/2018 57 57.51 51,931 1,802 Maxar Technologies Ltd. Common Shares Hascall, Timothy Mark 5 08/02/2018 10 57.51 51,406 -525 Maxar Technologies Ltd. Rights RSUs Hascall, Timothy Mark 5 08/02/2018 57 57.51 29,236 -1,802 Maxar Technologies Ltd. Common Shares Jablonsky, Daniel Lee 5 08/02/2018 57 57.51 39,647 1,317 Maxar Technologies Ltd. Common Shares Jablonsky, Daniel Lee 5 08/02/2018 10 57.51 39,240 -407 Maxar Technologies Ltd. Rights RSUs Jablonsky, Daniel Lee 5 08/02/2018 57 57.51 22,603 -1,317 Maxar Technologies Ltd. Common Shares Scott, Walter Stewart 5 08/02/2018 57 57.51 39,909 1,386 Maxar Technologies Ltd. Common Shares Scott, Walter Stewart 5 08/02/2018 10 57.51 39,496 -413 Maxar Technologies Ltd. Rights RSUs Scott, Walter Stewart 5 08/02/2018 57 57.51 29,131 -1,386 MAYA GOLD & SILVER INC. Common Shares Sofronis, Nikolaos 4 09/02/2018 10 0.63 8,449,445 50,000 MAYA GOLD & SILVER INC. Common Shares Taub, Robert 3, 4 08/02/2018 10 0.64 11,887,346 4,000 MBN Corporation Units MBN Corporation 1 09/02/2018 38 5.95 100 100 MBN Corporation Units MBN Corporation 1 09/02/2018 38 0 -100 MBN Corporation Units MBN Corporation 1 13/02/2018 38 5.95 300 300 MBN Corporation Units MBN Corporation 1 13/02/2018 38 0 -300 MBN Corporation Units MBN Corporation 1 14/02/2018 38 5.95 300 300 MBN Corporation Units MBN Corporation 1 14/02/2018 38 0 -300 MedReleaf Corp. Common Shares Arbib, Stephen 3 09/02/2018 10 18.011 -36,000 MedReleaf Corp. Common Shares Arbib, Stephen 3 09/02/2018 10 18.011 5,666,744 -36,600 MEG Energy Corp. Options SUTHERLAND, Donald 5 14/02/2018 52 44.93 136,700 -8,953 Mercer International Inc. Common Shares Gandossi, David M. 4, 5 14/02/2018 10 12.794 -12,000 Mercer International Inc. Common Shares Gandossi, David M. 4, 5 14/02/2018 10 12.794 115,714 -12,000 Mercer International Inc. Performance Units Heine, Eric X. 5 23/02/2017 57 -5,958 Mercer International Inc. Performance Units Heine, Eric X. 5 23/02/2017 57 31,441 -5,958 Mercer International Inc. Common Shares LAURITZEN, ERIC 4 22/01/2018 10 14.68 -2,100 Mercer International Inc. Common Shares LAURITZEN, ERIC 4 22/01/2018 10 14.68 53,485 -2,100 Mercer International Inc. Common Shares Lee, Jimmy S.H. 4, 5 18/01/2018 10 14.413 -10,000 Mercer International Inc. Common Shares Lee, Jimmy S.H. 4, 5 18/01/2018 10 14.413 1,715,548 -10,000 Mercer International Inc. Common Shares mccartney, william david 4 01/06/2017 46 6,010 Mercer International Inc. Common Shares mccartney, william david 4 01/06/2017 46 63,010 6,010 Mercer International Inc. Common Shares Morfitt, Marti 4 01/06/2017 46 5,000 Mercer International Inc. Common Shares Morfitt, Marti 4 01/06/2017 46 5,000 5,000 Mercer International Inc. Performance Units NOSSOL, LEONHARD 5 23/02/2017 57 -6,864 Mercer International Inc. Performance Units NOSSOL, LEONHARD 5 23/02/2017 57 39,865 -6,864 Mercer International Inc. Common Shares Orr-Gaucher, Nancy 4 01/06/2017 46 6,010

February 22, 2018 (2018), 41 OSCB 1559

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Mercer International Inc. Common Shares Orr-Gaucher, Nancy 4 01/06/2017 46 22,585 6,010 Mercer International Inc. Common Shares Picchi, Bernard 4 01/06/2017 46 6,010 Mercer International Inc. Common Shares Picchi, Bernard 4 01/06/2017 46 56,010 6,010 Mercer International Inc. Common Shares Purchase, Keith 4 01/06/2017 46 6,010 Mercer International Inc. Common Shares Purchase, Keith 4 01/06/2017 46 40,010 6,010 Mercer International Inc. Performance Units RIDDER, WOLFRAM 5 23/02/2017 57 -8,523 Mercer International Inc. Performance Units RIDDER, WOLFRAM 5 23/02/2017 57 44,291 -8,523 Mercer International Inc. Common Shares Shepherd, James Alexander 4 02/08/2017 10 10.906 -4,560 Mercer International Inc. Common Shares Shepherd, James Alexander 4 02/08/2017 10 10.906 31,450 -4,560 Mercer International Inc. Performance Units Short, Richard George 5 23/02/2017 57 -4,298 Mercer International Inc. Performance Units Short, Richard George 5 23/02/2017 57 6,500 -4,298 Mercer International Inc. Performance Units URE, DAVID K. 5 23/02/2017 57 -7,654 Mercer International Inc. Performance Units URE, DAVID K. 5 23/02/2017 57 17,582 -7,654 Meryllion Resources Common Shares Birkenshaw, David John 3 09/02/2018 10 0.0301 0 -13,343,900 Corporation Metalla Royalty & Streaming Common Shares Tucker, E.B. 4 14/02/2018 51 0.3 680,000 233,333 Ltd. Metalla Royalty & Streaming Options Tucker, E.B. 4 14/02/2018 51 0.3 500,000 -233,333 Ltd. Methanex Corporation Common Shares Sumner, Rich 7, 5 31/12/2016 30 98 Methanex Corporation Common Shares Sumner, Rich 7, 5 31/12/2017 30 5,428 579 Methanex Corporation Common Shares Sumner, Rich 7, 5 31/01/2018 30 579 Methanex Corporation Common Shares Sumner, Rich 7, 5 31/12/2016 30 2,022 98 Micromem Technologies Inc. Common Shares Dey, Alex 4 07/02/2018 11 0.26 186,892 63,465 Micromem Technologies Inc. Common Shares Dey, Alex 4 07/02/2018 11 0.26 458,045 -63,465 Midas Gold Corp. Common Shares Labelle, Anne Marie Susan 5 12/02/2018 51 0.31 433,150 51,250 Midas Gold Corp. Common Shares Labelle, Anne Marie Susan 5 12/02/2018 10 0.9641 381,900 -51,250 Midas Gold Corp. Common Shares Labelle, Anne Marie Susan 5 13/02/2018 51 0.72 421,900 40,000 Midas Gold Corp. Common Shares Labelle, Anne Marie Susan 5 13/02/2018 10 0.97 381,900 -40,000 Midas Gold Corp. Options Labelle, Anne Marie Susan 5 12/02/2018 51 0.31 648,750 -51,250 Midas Gold Corp. Options Labelle, Anne Marie Susan 5 13/02/2018 51 0.72 608,750 -40,000 Middlefield Can-Global REIT Trust Units Middlefield Can-Global 1 09/02/2018 38 11.05 4,359,287 400 Income Fund REIT Income Fund Middlefield Healthcare & Life Trust Units Brasseur, Jeremy 6 21/07/2017 00 Sciences Dividend Fund Middlefield Healthcare & Life Trust Units Brasseur, Jeremy 6 14/02/2018 10 9.3624 8,400 8,400 Sciences Dividend Fund Middlefield Healthcare & Life Trust Units Brasseur, Jeremy 6 15/02/2018 10 9.4657 11,900 3,500 Sciences Dividend Fund Middlefield Healthcare & Life Trust Units Middlefield Healthcare & 1 09/02/2018 38 9.2266 684,300 12,800 Sciences Dividend Fund Life Sciences Dividend Fund Middlefield Healthcare & Life Trust Units Middlefield Healthcare & 1 12/02/2018 38 9.3556 687,500 3,200 Sciences Dividend Fund Life Sciences Dividend Fund Middlefield Healthcare & Life Trust Units Middlefield Healthcare & 1 13/02/2018 38 9.25 687,800 300 Sciences Dividend Fund Life Sciences Dividend Fund Middlefield Healthcare & Life Trust Units Middlefield Healthcare & 1 14/02/2018 38 9.2485 696,200 8,400 Sciences Dividend Fund Life Sciences Dividend Fund Middlefield Healthcare & Life Trust Units Orrico, Dean 6 14/02/2018 10 9.397 32,000 2,000 Sciences Dividend Fund Middlefield Healthcare & Trust Units Middlefield Healthcare & 1 09/02/2018 38 9.4178 824,600 8,700 Wellness Dividend Fund Wellness Dividend Fund Middlefield Healthcare & Trust Units Middlefield Healthcare & 1 14/02/2018 38 9.64 824,800 200 Wellness Dividend Fund Wellness Dividend Fund Midland Exploration Inc. Options Archer, Paul 4 15/02/2018 50 140,000 40,000 Midland Exploration Inc. Options Branchaud, René 4, 5 15/02/2018 50 315,000 40,000 Midland Exploration Inc. Options Carrière, Germain 4 15/02/2018 50 380,000 50,000 Midland Exploration Inc. Options Janson, Jean-Pierre 4 15/02/2018 50 485,000 65,000 Midland Exploration Inc. Options MARTIN, INGRID 5 15/02/2018 50 0.89 315,000 40,000 Midland Exploration Inc. Options Masson, Mario 5 15/02/2018 50 375,000 50,000

February 22, 2018 (2018), 41 OSCB 1560

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Midland Exploration Inc. Options Roger, Gino 4, 5 15/02/2018 50 485,000 65,000 Midland Exploration Inc. Options Valliant, Robert Irwin 4 15/02/2018 50 290,000 40,000 Midnight Star Ventures Corp. Common Shares Epp, Melvin Shane 4 15/02/2018 11 0.01 87,500 -37,500 Midnight Star Ventures Corp. Common Shares Ryan, David K. 6 15/02/2018 11 0.01 1,187,501 -487,500 Millennial Esports Corp. Common Shares Schorr, Seth 4 09/02/2018 16 0.7 634,058 134,058 Millennial Esports Corp. Warrants Schorr, Seth 4 09/02/2018 16 167,029 67,029 Minera Alamos Inc. Common Shares Chadder, Christopher 5 08/02/2018 10 0.16 1,406,000 60,000 Robert Minera Alamos Inc. Common Shares Chadder, Christopher 5 09/02/2018 10 0.15 1,430,000 24,000 Robert Minera Alamos Inc. Common Shares Chadder, Christopher 5 12/02/2018 10 0.145 1,440,500 10,500 Robert Minera Alamos Inc. Common Shares Chadder, Christopher 5 13/02/2018 10 0.15 1,450,500 10,000 Robert Minera Alamos Inc. Common Shares Chadder, Christopher 5 14/02/2018 10 0.145 1,454,500 4,000 Robert Mineral Mountain Resources Options baker, nelson 4 31/01/2018 50 0.35 1,125,000 300,000 Ltd. Mineral Mountain Resources Common Shares bertram, marshall 4, 5 09/02/2018 47 974,360 -400,000 Ltd. Mineral Mountain Resources Options bertram, marshall 4, 5 31/01/2018 50 0.35 615,000 50,000 Ltd. Minfocus Exploration Corp. Options DEGRAAF, KENNETH B 3, 4, 5 14/02/2018 50 2,640,000 1,700,000 Minfocus Exploration Corp. Common Shares Froc, Neil Victor 4 07/02/2018 00 1,050,000 Minfocus Exploration Corp. Options Froc, Neil Victor 4 07/02/2018 00 500,000 Minfocus Exploration Corp. Common Shares Harper, Gerald 3 14/02/2018 11 0.02 20,806,851 -1,800,000 Minfocus Exploration Corp. Options Wilson, Graham Charles 4 14/02/2018 50 800,000 500,000 MINT Income Fund Trust Units MINT Income Fund 1 09/02/2018 38 6.5952 71,968,627 2,500 MINT Income Fund Trust Units MINT Income Fund 1 12/02/2018 38 6.7086 71,969,327 700 MINT Income Fund Trust Units MINT Income Fund 1 13/02/2018 38 6.7297 71,972,727 3,400 MINT Income Fund Trust Units MINT Income Fund 1 14/02/2018 38 6.72 71,973,427 700 Montero Mining and Common Shares Thomson, Andrew 4 09/02/2018 10 0.31 276,188 3,000 Exploration Ltd. Montero Mining and Common Shares Thomson, Andrew 4 09/02/2018 10 0.32 243,000 2,000 Exploration Ltd. Morgan Resources Corp. Common Shares Rogers, Richard Paul 4 15/09/2015 11 2,583,334 1,083,334 (formerly, Gideon Capital Corp.) Morgan Resources Corp. Options (Incentive Stock Rogers, Richard Paul 4 30/09/2013 00 (formerly, Gideon Capital Options) Corp.) Morgan Resources Corp. Options (Incentive Stock Rogers, Richard Paul 4 01/08/2014 50 0.15 200,000 200,000 (formerly, Gideon Capital Options) Corp.) Morguard North American Convertible Debentures Morguard Corporation 3 18/04/2012 00 Residential Real Estate 4.50% convertible Investment Trust unsecured subordinated debentures Morguard North American Convertible Debentures Morguard Corporation 3 13/02/2018 10 100 $50,000 $50,000 Residential Real Estate 4.50% convertible Investment Trust unsecured subordinated debentures NAPEC Inc. (formerly know Common Shares Fonds de solidarité FTQ 3 14/02/2018 11 1.95 0 -20,628,043 as CVTech Group Inc.) NAPEC Inc. (formerly know Warrants Fonds de solidarité FTQ 3 14/02/2018 11 0.65 0 -1,701,031 as CVTech Group Inc.) National Access Cannabis Common Shares Kane, Christopher Michael 5 11/12/2017 00 Corp. (formerly Brassneck Capital Corp.) National Access Cannabis Common Shares Kane, Christopher Michael 5 30/01/2018 16 0.55 25,000 25,000 Corp. (formerly Brassneck Capital Corp.) National Access Cannabis Warrants Kane, Christopher Michael 5 11/12/2017 00 Corp. (formerly Brassneck Capital Corp.)

February 22, 2018 (2018), 41 OSCB 1561

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed National Access Cannabis Warrants Kane, Christopher Michael 5 30/01/2018 16 12,500 12,500 Corp. (formerly Brassneck Capital Corp.) National Access Cannabis Common Shares Saliken, Michael John 4 01/02/2018 10 0.85 265,100 24,100 Corp. (formerly Brassneck Capital Corp.) National Access Cannabis Common Shares Saliken, Michael John 4 06/02/2018 51 0.16 375,100 110,000 Corp. (formerly Brassneck Capital Corp.) National Access Cannabis Common Shares Saliken, Michael John 4 13/02/2018 10 1.12 265,100 -110,000 Corp. (formerly Brassneck Capital Corp.) National Access Cannabis Options Saliken, Michael John 4 06/02/2018 51 0.16 66,892 -110,000 Corp. (formerly Brassneck Capital Corp.) National Bank of Canada Common Shares Bachand, Raymond 4 09/02/2018 35 62.42 1,123 11 National Bank of Canada Unités d'actions différées Bachand, Raymond 4 01/02/2018 35 7,465 70 (UAD) / (DSU) National Bank of Canada Unités d'actions différées Bachand, Raymond 4 15/02/2018 56 8,029 564 (UAD) / (DSU) National Bank of Canada Common Shares Bertrand, Maryse 4 09/02/2018 35 62.42 5,226 36 National Bank of Canada Unités d'actions différées Bertrand, Maryse 4 01/02/2018 35 124 (UAD) / (DSU) National Bank of Canada Unités d'actions différées Bertrand, Maryse 4 01/02/2018 35 124 (UAD) / (DSU) National Bank of Canada Unités d'actions différées Bertrand, Maryse 4 01/02/2018 35 123 (UAD) / (DSU) National Bank of Canada Unités d'actions différées Bertrand, Maryse 4 01/02/2018 35 123 (UAD) / (DSU) National Bank of Canada Unités d'actions différées Bertrand, Maryse 4 01/02/2018 35 13,177 123 (UAD) / (DSU) National Bank of Canada Unités d'actions différées Bertrand, Maryse 4 15/02/2018 56 13,821 644 (UAD) / (DSU) National Bank of Canada Unités d'actions différées Blouin, Pierre J. 4 01/02/2018 35 2,829 27 (UAD) / (DSU) National Bank of Canada Unités d'actions différées Blouin, Pierre J. 4 15/02/2018 56 3,392 563 (UAD) / (DSU) National Bank of Canada Common Shares Boivin, Pierre 4 09/02/2018 35 62.42 14,685 26 National Bank of Canada Unités d'actions différées Boivin, Pierre 4 01/02/2018 35 7,887 73 (UAD) / (DSU) National Bank of Canada Unités d'actions différées Boivin, Pierre 4 15/02/2018 56 8,531 644 (UAD) / (DSU) National Bank of Canada Unités d'actions Davis, Brian A. 7 01/02/2018 35 63.77 56,434 526 assujetties à des restrictions (UAR) /(RSU) National Bank of Canada Unités d'actions Davis, Brian A. 7 01/02/2018 35 63.77 5,562 53 assujetties à un critère de performance National Bank of Canada Unités d'actions différées Denham, Gillian H. (Jill) 4 01/02/2018 35 2,678 25 (UAD) / (DSU) National Bank of Canada Unités d'actions différées Denham, Gillian H. (Jill) 4 15/02/2018 56 2,930 252 (UAD) / (DSU) National Bank of Canada Unités d'actions différées Fortin, Richard 4 01/02/2018 35 12,586 117 (UAD) / (DSU) National Bank of Canada Unités d'actions différées Fortin, Richard 4 15/02/2018 56 13,336 750 (UAD) / (DSU) National Bank of Canada Unités d'actions Gagnon, Martin 5 01/02/2018 35 63.77 3,366 31 assujetties à des restrictions (UAR) /(RSU) National Bank of Canada Unités d'actions Gagnon, Martin 5 01/02/2018 35 63.77 42,048 392 assujetties à un critère de performance National Bank of Canada Unités d'actions différées Gagnon, Martin 5 01/02/2018 35 63.77 11,576 109 (UAD) / (DSU) National Bank of Canada Unités d'actions Girouard, Denis 7 01/02/2018 35 63.77 124,380 1,159 assujetties à des restrictions (UAR) /(RSU)

February 22, 2018 (2018), 41 OSCB 1562

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed National Bank of Canada Unités d'actions Girouard, Denis 7 01/02/2018 35 63.77 26,435 247 assujetties à un critère de performance National Bank of Canada Unités d'actions Hébert, Brigitte 5 01/02/2018 35 63.77 23,175 216 assujetties à un critère de performance National Bank of Canada Unités d'actions différées Hébert, Brigitte 5 01/02/2018 35 63.77 19,318 181 (UAD) / (DSU) National Bank of Canada Common Shares Houde, Jean 4 09/02/2018 35 62.42 14,738 39 National Bank of Canada Unités d'actions différées Houde, Jean 4 01/02/2018 35 3,336 31 (UAD) / (DSU) National Bank of Canada Unités d'actions différées Houde, Jean 4 15/02/2018 56 3,696 360 (UAD) / (DSU) National Bank of Canada Unités d'actions Jeanniot, Lynn 5 01/02/2018 35 63.77 28,969 270 assujetties à un critère de performance National Bank of Canada Unités d'actions différées Jeanniot, Lynn 5 01/02/2018 35 63.77 13,215 124 (UAD) / (DSU) National Bank of Canada Unités d'actions différées Kinsley, Karen 4 01/02/2018 35 6,814 64 (UAD) / (DSU) National Bank of Canada Unités d'actions différées Kinsley, Karen 4 15/02/2018 56 7,065 251 (UAD) / (DSU) National Bank of Canada Unités d'actions différées McKillican, Rebecca 4 01/02/2018 35 169 2 (UAD) / (DSU) National Bank of Canada Unités d'actions différées McKillican, Rebecca 4 15/02/2018 56 672 503 (UAD) / (DSU) National Bank of Canada Common Shares Saputo, Lino Anthony 4 09/02/2018 35 62.42 5,720 34 National Bank of Canada Unités d'actions différées Saputo, Lino Anthony 4 01/02/2018 35 10,670 99 (UAD) / (DSU) National Bank of Canada Unités d'actions différées Saputo, Lino Anthony 4 15/02/2018 56 11,173 503 (UAD) / (DSU) National Bank of Canada Common Shares Savoie, Andrée 4 09/02/2018 35 62.42 3,225 10 National Bank of Canada Unités d'actions différées Savoie, Andrée 4 01/02/2018 35 5,194 49 (UAD) / (DSU) National Bank of Canada Unités d'actions différées Savoie, Andrée 4 15/02/2018 56 5,757 563 (UAD) / (DSU) National Bank of Canada Common Shares Thabet, Pierre 4 09/02/2018 35 62.42 5,399 42 National Bank of Canada Common Shares Thabet, Pierre 4 31/12/2017 35 57.1 192,399 5,563 National Bank of Canada Unités d'actions différées Thabet, Pierre 4 01/02/2018 35 12,367 115 (UAD) / (DSU) National Bank of Canada Unités d'actions différées Thabet, Pierre 4 15/02/2018 56 12,870 503 (UAD) / (DSU) Neovasc Inc. Common Shares Frost, Phillip 3 14/02/2018 10 14,086,838 -300,000 Neovasc Inc. Common Shares Frost, Phillip 3 15/02/2018 10 13,786,838 -300,000 Nevada Copper Corp. Options Bonifacio, Giulio 3, 4, 5 13/02/2018 50 0.8 2,500,000 400,000 Nevada Copper Corp. Options French, Gregory 5 13/02/2018 50 0.8 800,000 160,000 Nevada Copper Corp. Options McKnight, Robert Thomas 5 13/02/2018 50 0.8 885,000 160,000 Nevada Exploration Inc. Warrants Issued August Higgs, Dennis 4 10/02/2018 55 0 -267,500 2016 - Expire February 10, 2018 NexgenRx Inc. Common Shares Crossett, Paul Everett 3 13/02/2018 10 0.23 5,760,000 14,500 NexgenRx Inc. Common Shares Crossett, Paul Everett 3 16/02/2018 10 0.23 5,785,000 25,000 Norbord Inc. Common Shares Alexander, Bruce Lindsay 5 31/12/2017 30 43.05 273 38 Norbord Inc. Options Alexander, Bruce Lindsay 5 17/11/2017 00 Norbord Inc. Options Alexander, Bruce Lindsay 5 09/02/2018 50 46.35 20,000 20,000 Norbord Inc. Common Shares Banks, Nigel 5 31/12/2017 30 40.69 8,012 1,108 Norbord Inc. Options Banks, Nigel 5 09/02/2018 50 46.35 75,000 15,000 Norbord Inc. Rights Management Banks, Nigel 5 31/12/2017 30 308 10 Deferred Share Units Norbord Inc. Common Shares Burke, Kevin John 5 09/02/2018 00 1,710 Norbord Inc. Options Burke, Kevin John 5 09/02/2018 00 57,500 Norbord Inc. Rights Management Burke, Kevin John 5 09/02/2018 00 62 Deferred Share Units Norbord Inc. Rights Director Deferred Dupuis, Pierre 4 31/12/2017 30 32,564 1,795 Share Units

February 22, 2018 (2018), 41 OSCB 1563

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Norbord Inc. Rights Director Deferred Gagne, Paul Ernest 4 31/12/2017 30 19,361 2,991 Share Units Norbord Inc. Common Shares Lampard, Robin E.A. 5 31/12/2017 30 42.12 24,270 1,195 Norbord Inc. Options Lampard, Robin E.A. 5 09/02/2018 50 46.35 300,000 30,000 Norbord Inc. Rights Director Deferred Paul, Houston 4 31/12/2017 30 22,976 2,113 Share Units Norbord Inc. Rights Management Shineton, Barrie 4 31/12/2017 30 30,343 1,023 Deferred Share Units Norbord Inc. Common Shares Wijnbergen, Peter Cornelius 5 31/12/2017 30 41.14 40,996 4,150 Norbord Inc. Options Wijnbergen, Peter Cornelius 5 09/02/2018 50 46.35 460,000 60,000 Norbord Inc. Rights Management Wijnbergen, Peter Cornelius 5 31/12/2017 30 2,954 99 Deferred Share Units North American Energy Deferred Share Units Ferron, Martin Robert 4, 5 05/01/2018 56 426 Partners Inc. North American Energy Deferred Share Units Ferron, Martin Robert 4, 5 05/01/2018 56 118,330 428 Partners Inc. North American Energy Deferred Share Units McIntosh, Ronald A 4 05/01/2018 56 818 Partners Inc. North American Energy Deferred Share Units McIntosh, Ronald A 4 05/01/2018 56 230,308 819 Partners Inc. North American Energy Common Shares North American Energy 1 01/02/2018 38 0 -177,000 Partners Inc. Partners North American Energy Deferred Share Units Oehmig, William C. 4 05/01/2018 56 1,012 Partners Inc. North American Energy Deferred Share Units Oehmig, William C. 4 05/01/2018 56 287,094 1,013 Partners Inc. North American Energy Deferred Share Units Stan, Thomas Paul 4 05/01/2018 56 62 Partners Inc. North American Energy Deferred Share Units Stan, Thomas Paul 4 05/01/2018 56 20,572 61 Partners Inc. North American Nickel Inc. Options Lightfoot, Peter Charles 5 02/02/2018 00 500,000 Northern Empire Resources Common Shares Hurst, Douglas 4 21/07/2017 15 0.75 200,000 200,000 Corp. NorthWest Healthcare Class B Limited Dalla Lana, Paul 4, 5 08/02/2018 38 11,088,898 -1,290,000 Properties Real Estate Partnership Units Investment Trust NorthWest Healthcare Class B Limited Dalla Lana, Paul 4, 5 12/02/2018 38 -1,290,000 Properties Real Estate Partnership Units Investment Trust NorthWest Healthcare Class B Limited Dalla Lana, Paul 4, 5 12/02/2018 38 -1,290,000 Properties Real Estate Partnership Units Investment Trust NorthWest Healthcare Trust Units Dalla Lana, Paul 4, 5 03/12/2015 90 79,623 -320,800 Properties Real Estate Investment Trust NorthWest Healthcare Trust Units Dalla Lana, Paul 4, 5 03/06/2016 90 454,579 -700,000 Properties Real Estate Investment Trust NorthWest Healthcare Trust Units Dalla Lana, Paul 4, 5 08/02/2018 38 2,568,193 1,290,000 Properties Real Estate Investment Trust NorthWest Healthcare Trust Units Dalla Lana, Paul 4, 5 08/02/2018 47 1,278,193 -1,290,000 Properties Real Estate Investment Trust NorthWest Healthcare Trust Units Dalla Lana, Paul 4, 5 12/02/2018 38 1,290,000 Properties Real Estate Investment Trust NorthWest Healthcare Trust Units Dalla Lana, Paul 4, 5 12/02/2018 38 1,290,000 Properties Real Estate Investment Trust NorthWest Healthcare Trust Units Dalla Lana, Paul 4, 5 12/02/2018 47 -1,290,000 Properties Real Estate Investment Trust NorthWest Healthcare Trust Units Dalla Lana, Paul 4, 5 12/02/2018 47 -1,290,000 Properties Real Estate Investment Trust

February 22, 2018 (2018), 41 OSCB 1564

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed NorthWest Healthcare Trust Units Dalla Lana, Paul 4, 5 03/12/2015 90 5,435,537 320,800 Properties Real Estate Investment Trust NorthWest Healthcare Trust Units Dalla Lana, Paul 4, 5 03/06/2016 90 6,135,537 700,000 Properties Real Estate Investment Trust NorthWest Healthcare Trust Units Dalla Lana, Paul 4, 5 12/02/2018 10 10.724 6,013,237 -122,300 Properties Real Estate Investment Trust NorthWest Healthcare Trust Units Dalla Lana, Paul 4, 5 13/02/2018 10 10.68 5,959,237 -54,000 Properties Real Estate Investment Trust NorthWest Healthcare Trust Units Dalla Lana, Paul 4, 5 14/02/2018 10 10.587 5,875,537 -83,700 Properties Real Estate Investment Trust NorthWest Healthcare Class B Limited NorthWest Value Partners 3 08/02/2018 38 11,088,898 -1,290,000 Properties Real Estate Partnership Units Inc. Investment Trust NorthWest Healthcare Class B Limited NorthWest Value Partners 3 12/02/2018 38 -1,290,000 Properties Real Estate Partnership Units Inc. Investment Trust NorthWest Healthcare Class B Limited NorthWest Value Partners 3 12/02/2018 38 -1,290,000 Properties Real Estate Partnership Units Inc. Investment Trust NorthWest Healthcare Trust Units NorthWest Value Partners 3 23/09/2016 97 1,755,190 Properties Real Estate Inc. Investment Trust NorthWest Healthcare Trust Units NorthWest Value Partners 3 23/09/2016 97 938,247 938,247 Properties Real Estate Inc. Investment Trust NorthWest Healthcare Trust Units NorthWest Value Partners 3 15/11/2016 10 9.843 958,247 20,000 Properties Real Estate Inc. Investment Trust NorthWest Healthcare Trust Units NorthWest Value Partners 3 15/11/2016 10 9.8455 973,247 15,000 Properties Real Estate Inc. Investment Trust NorthWest Healthcare Trust Units NorthWest Value Partners 3 16/11/2016 10 9.8558 988,747 15,500 Properties Real Estate Inc. Investment Trust NorthWest Healthcare Trust Units NorthWest Value Partners 3 16/11/2016 10 9.87 988,793 46 Properties Real Estate Inc. Investment Trust NorthWest Healthcare Trust Units NorthWest Value Partners 3 19/05/2017 10 10.602 1,013,793 25,000 Properties Real Estate Inc. Investment Trust NorthWest Healthcare Trust Units NorthWest Value Partners 3 30/06/2017 10 10.674 1,038,793 25,000 Properties Real Estate Inc. Investment Trust NorthWest Healthcare Trust Units NorthWest Value Partners 3 06/07/2017 10 10.712 1,088,793 50,000 Properties Real Estate Inc. Investment Trust NorthWest Healthcare Trust Units NorthWest Value Partners 3 07/07/2017 10 10.581 1,113,793 25,000 Properties Real Estate Inc. Investment Trust NorthWest Healthcare Trust Units NorthWest Value Partners 3 11/07/2017 10 10.402 1,126,293 12,500 Properties Real Estate Inc. Investment Trust NorthWest Healthcare Trust Units NorthWest Value Partners 3 18/08/2017 10 10.709 1,161,093 34,800 Properties Real Estate Inc. Investment Trust NorthWest Healthcare Trust Units NorthWest Value Partners 3 21/08/2017 10 10.735 1,183,193 22,100 Properties Real Estate Inc. Investment Trust NorthWest Healthcare Trust Units NorthWest Value Partners 3 13/09/2017 10 11.044 1,208,193 25,000 Properties Real Estate Inc. Investment Trust NorthWest Healthcare Trust Units NorthWest Value Partners 3 13/09/2017 10 11.05 1,218,193 10,000 Properties Real Estate Inc. Investment Trust

February 22, 2018 (2018), 41 OSCB 1565

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed NorthWest Healthcare Trust Units NorthWest Value Partners 3 13/09/2017 10 11.058 1,233,193 15,000 Properties Real Estate Inc. Investment Trust NorthWest Healthcare Trust Units NorthWest Value Partners 3 08/02/2018 38 2,568,193 1,290,000 Properties Real Estate Inc. Investment Trust NorthWest Healthcare Trust Units NorthWest Value Partners 3 08/02/2018 47 1,278,193 -1,290,000 Properties Real Estate Inc. Investment Trust NorthWest Healthcare Trust Units NorthWest Value Partners 3 12/02/2018 38 1,290,000 Properties Real Estate Inc. Investment Trust NorthWest Healthcare Trust Units NorthWest Value Partners 3 12/02/2018 38 1,290,000 Properties Real Estate Inc. Investment Trust NorthWest Healthcare Trust Units NorthWest Value Partners 3 12/02/2018 47 -1,290,000 Properties Real Estate Inc. Investment Trust NorthWest Healthcare Trust Units NorthWest Value Partners 3 12/02/2018 47 -1,290,000 Properties Real Estate Inc. Investment Trust NorthWest Healthcare Trust Units NorthWest Value Partners 3 23/09/2016 97 5,114,737 Properties Real Estate Inc. Investment Trust NorthWest Healthcare Trust Units NorthWest Value Partners 3 23/09/2016 97 6,135,537 6,135,537 Properties Real Estate Inc. Investment Trust NorthWest Healthcare Trust Units NorthWest Value Partners 3 12/02/2018 10 10.724 6,013,237 -122,300 Properties Real Estate Inc. Investment Trust NorthWest Healthcare Trust Units NorthWest Value Partners 3 13/02/2018 10 10.68 5,959,237 -54,000 Properties Real Estate Inc. Investment Trust NorthWest Healthcare Trust Units NorthWest Value Partners 3 14/02/2018 10 10.587 5,875,537 -83,700 Properties Real Estate Inc. Investment Trust Novelion Therapeutics Inc. Options Buono, Linda 5 12/02/2018 50 25,000 Novelion Therapeutics Inc. Options Buono, Linda 5 12/02/2018 50 25,000 Novelion Therapeutics Inc. Options Buono, Linda 5 12/02/2018 50 122,400 25,000 Novelion Therapeutics Inc. Options Harshbarger, Benjamin 5 12/02/2018 50 217,400 45,000 Novelion Therapeutics Inc. Options Louis, Roger 5 12/02/2018 50 66,740 25,000 Novelion Therapeutics Inc. Options Stewart, Murray 5 12/02/2018 50 245,000 45,000 Nutrien Ltd. Common Shares Estey, John W. 4 12/02/2018 10 45.763 18,380 5,500 Nutrien Ltd. Common Shares Hubbs, Miranda C. 4 12/02/2018 10 45.75 4,500 2,270 Nutrien Ltd. Common Shares Hubbs, Miranda C. 4 12/02/2018 10 45.6 5,000 500 Nutrien Ltd. Common Shares Poohkay, Brent Donald 5 09/02/2018 10 56.035 10,838 3,000 Nutritional High International Warrants Posner, David 4 12/09/2016 46 595,087 Inc. (formerly, Sonoma Capital Inc.) Nutritional High International Warrants Posner, David 4 29/01/2018 54 -595,087 Inc. (formerly, Sonoma Capital Inc.) Nutritional High International Warrants Posner, David 4 07/07/2014 00 Inc. (formerly, Sonoma Capital Inc.) Nutritional High International Warrants Posner, David 4 12/09/2016 46 595,087 595,087 Inc. (formerly, Sonoma Capital Inc.) Nutritional High International Warrants Posner, David 4 29/01/2018 54 0 -595,087 Inc. (formerly, Sonoma Capital Inc.) Nutritional High International Common Shares Presement, Brian 4 01/02/2018 54 0.05 171,429 57,143 Inc. (formerly, Sonoma Capital Inc.) Nutritional High International Warrants Presement, Brian 4 01/02/2018 54 0 -57,143 Inc. (formerly, Sonoma Capital Inc.) Obsidian Energy Ltd. Common Shares Thornton, Jay 4 09/02/2018 10 1.11 238,750 50,000

February 22, 2018 (2018), 41 OSCB 1566

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Obsidian Energy Ltd. Common Shares Thornton, Jay 4 09/02/2018 10 1.12 288,750 50,000 ONEX CORPORATION Options Abdel Hakim, Nehal Essam 5 24/01/2018 50 92.15 30,000 30,000 ONEX CORPORATION Options Abdel Hakim, Nehal Essam 5 25/01/2018 50 91.93 30,000 ONEX CORPORATION Options Abols, Tate Alexander 5 24/01/2018 50 92.15 170,000 30,000 Mackenzie ONEX CORPORATION Options Abols, Tate Alexander 5 25/01/2018 50 91.93 30,000 Mackenzie ONEX CORPORATION Options Clegg, Todd Michael 7 24/01/2018 50 92.15 178,000 25,000 ONEX CORPORATION Options Clegg, Todd Michael 7 25/01/2018 50 91.93 25,000 ONEX CORPORATION Options Copeland, David Wayne 5 24/01/2018 50 92.15 145,667 20,000 ONEX CORPORATION Options Copeland, David Wayne 5 25/01/2018 50 91.93 20,000 ONEX CORPORATION Options Daly, Andrea Elizabeth 5 24/01/2018 50 92.15 155,000 20,000 ONEX CORPORATION Options Daly, Andrea Elizabeth 5 25/01/2018 50 91.93 20,000 ONEX CORPORATION Options Gilis, Konstantin 5 24/01/2018 50 92.15 345,000 50,000 ONEX CORPORATION Options Gilis, Konstantin 5 25/01/2018 50 91.93 50,000 ONEX CORPORATION Options Goldberg, Laurence Alan 5 24/01/2018 50 92.15 180,000 30,000 ONEX CORPORATION Options Goldberg, Laurence Alan 5 25/01/2018 50 91.93 30,000 ONEX CORPORATION Options Govan, Christopher Allan 5 24/01/2018 50 92.15 290,000 50,000 ONEX CORPORATION Options Govan, Christopher Allan 5 25/01/2018 50 91.93 50,000 ONEX CORPORATION Options Hausman, Joshua Samuel 7 24/01/2018 50 92.15 220,000 20,000 ONEX CORPORATION Options Hausman, Joshua Samuel 7 25/01/2018 50 91.93 20,000 ONEX CORPORATION Options Heersink, Ewout R. 4, 5 24/01/2018 50 92.15 245,000 20,000 ONEX CORPORATION Options Heersink, Ewout R. 4, 5 25/01/2018 50 91.93 20,000 ONEX CORPORATION Options Lay, Michael 7 24/01/2018 50 92.15 102,075 12,975 ONEX CORPORATION Options Lay, Michael 7 25/01/2018 50 91.93 12,975 ONEX CORPORATION Options Lewtas, Donald William 5 24/01/2018 50 92.15 210,000 10,000 ONEX CORPORATION Options Lewtas, Donald William 5 25/01/2018 50 91.93 10,000 ONEX CORPORATION Options Mansell, David John 5 24/01/2018 50 92.15 371,750 20,000 ONEX CORPORATION Options Mansell, David John 5 25/01/2018 50 91.93 20,000 ONEX CORPORATION Options Morgan, Anthony David 7 24/01/2018 50 92.15 200,000 20,000 ONEX CORPORATION Options Morgan, Anthony David 7 25/01/2018 50 91.93 20,000 ONEX CORPORATION Options Motamedi, Amir Hossein 5 24/01/2018 50 92.15 165,000 30,000 ONEX CORPORATION Options Motamedi, Amir Hossein 5 25/01/2018 50 91.93 30,000 ONEX CORPORATION Options Popatia, Tawfiq 5 24/01/2018 50 92.15 340,000 50,000 ONEX CORPORATION Options Popatia, Tawfiq 5 25/01/2018 50 91.93 50,000 ONEX CORPORATION Options Ross, Matthew David 7 24/01/2018 50 92.15 267,500 50,000 ONEX CORPORATION Options Ross, Matthew David 7 25/01/2018 50 91.93 50,000 ONEX CORPORATION Options Srivastava, Manish Kumar 5 24/01/2018 50 92.15 187,500 20,000 ONEX CORPORATION Options Srivastava, Manish Kumar 5 25/01/2018 50 91.93 20,000 ONEX CORPORATION Options Thompson, Emma 5 24/01/2018 50 92.15 172,250 30,000 ONEX CORPORATION Options Thompson, Emma 5 25/01/2018 50 91.93 30,000 ONEX CORPORATION Options Wright, Nigel Stewart 7 24/01/2018 50 92.15 255,000 20,000 ONEX CORPORATION Options Wright, Nigel Stewart 7 25/01/2018 50 91.93 20,000 Open Text Corporation Common Shares OTEX Barrenechea, Mark James 4, 5 11/02/2016 56 4,956 Common Open Text Corporation Common Shares OTEX Barrenechea, Mark James 4, 5 11/02/2016 10 -4,956 Common Open Text Corporation Common Shares OTEX Barrenechea, Mark James 4, 5 11/02/2016 10 -4,956 Common Open Text Corporation Common Shares OTEX Barrenechea, Mark James 4, 5 11/02/2016 10 -4,956 Common Open Text Corporation Restricted Share Units Barrenechea, Mark James 4, 5 11/02/2016 57 46.67 -4,956 Open Text Corporation Restricted Share Units Barrenechea, Mark James 4, 5 11/02/2016 57 46.67 -4,956 Open Text Corporation Restricted Share Units Barrenechea, Mark James 4, 5 11/02/2016 57 46.67 -4,956 Open Text Corporation Restricted Share Units Barrenechea, Mark James 4, 5 11/02/2016 57 46.67 -4,956 Open Text Corporation Restricted Share Units Barrenechea, Mark James 4, 5 24/01/2017 37 131,518 Open Text Corporation Restricted Share Units Barrenechea, Mark James 4, 5 24/01/2017 37 184,060 92,030 Open Text Corporation Common Shares OTEX Doolittle, John 5 14/02/2018 51 28.645 44,861 25,000 Common

February 22, 2018 (2018), 41 OSCB 1567

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Open Text Corporation Common Shares OTEX Doolittle, John 5 14/02/2018 10 35 19,861 -25,000 Common Open Text Corporation Common Shares OTEX Doolittle, John 5 16/02/2018 51 28.645 44,861 25,000 Common Open Text Corporation Common Shares OTEX Doolittle, John 5 16/02/2018 10 35.178 19,861 -25,000 Common Open Text Corporation Options All OTEX Option Doolittle, John 5 14/02/2018 51 28.645 304,240 -25,000 Plans Open Text Corporation Options All OTEX Option Doolittle, John 5 16/02/2018 51 28.645 279,240 -25,000 Plans Open Text Corporation Performance Share Units Harrison, Simon David 5 18/02/2014 37 5,632 Open Text Corporation Performance Share Units Harrison, Simon David 5 18/02/2014 37 5,000 2,500 Open Text Corporation Performance Share Units Harrison, Simon David 5 24/01/2017 37 3,132 Open Text Corporation Performance Share Units Harrison, Simon David 5 24/01/2017 37 3,132 Open Text Corporation Performance Share Units Harrison, Simon David 5 24/01/2017 37 3,132 Open Text Corporation Common Shares OTEX Jackman, Brian 4 14/02/2018 51 13.058 94,400 22,000 Common Open Text Corporation Common Shares OTEX Jackman, Brian 4 14/02/2018 10 35.323 72,400 -22,000 Common Open Text Corporation Options All OTEX Option Jackman, Brian 4 14/02/2018 51 13.058 0 -22,000 Plans Open Text Corporation Common Shares OTEX McGourlay, Christopher 5 14/02/2018 51 22.865 40,031 25,000 Common James Open Text Corporation Common Shares OTEX McGourlay, Christopher 5 14/02/2018 10 35.051 15,031 -25,000 Common James Open Text Corporation Options All OTEX Option McGourlay, Christopher 5 14/02/2018 51 22.865 95,352 -25,000 Plans James Open Text Corporation Performance Share Units McGourlay, Christopher 5 29/07/2016 56 61.66 2,480 James Open Text Corporation Performance Share Units McGourlay, Christopher 5 29/07/2016 56 61.66 2,480 James Open Text Corporation Performance Share Units McGourlay, Christopher 5 29/07/2016 56 61.66 2,480 James Open Text Corporation Performance Share Units McGourlay, Christopher 5 24/01/2017 37 11,020 James Open Text Corporation Performance Share Units McGourlay, Christopher 5 24/01/2017 37 17,080 8,540 James Open Text Corporation Restricted Share Units Schulze, George Edward Jr. 5 31/07/2015 00 Open Text Corporation Restricted Share Units Schulze, George Edward Jr. 5 31/07/2015 00 4,060 Open Text Corporation Restricted Share Units Schulze, George Edward Jr. 5 24/01/2017 37 8,370 Open Text Corporation Restricted Share Units Schulze, George Edward Jr. 5 24/01/2017 37 24,860 12,430 Open Text Corporation Common Shares OTEX Stevenson, Katharine 4 13/02/2018 47 54,290 -1,500 Common Berghuis Open Text Corporation Common Shares OTEX Stevenson, Katharine 4 13/02/2018 47 54,040 -250 Common Berghuis Organto Foods Inc. Common Shares Maas, Arnoud Philip 4, 5 01/05/2017 00 Organto Foods Inc. Common Shares Maas, Arnoud Philip 4, 5 03/08/2017 10 0.15 166,667 166,667 Orla Mining Ltd. Common Shares Agnico Eagle Mines Limited 3 15/02/2018 00 Orla Mining Ltd. Common Shares Agnico Eagle Mines Limited 3 15/02/2018 00 15,873,335 Orla Mining Ltd. Common Shares Agnico Eagle Mines Limited 3 15/02/2018 15 1.75 17,613,835 1,740,500 Orla Mining Ltd. Warrants Agnico Eagle Mines Limited 3 15/02/2018 00 Orla Mining Ltd. Warrants Agnico Eagle Mines Limited 3 15/02/2018 16 870,250 870,250 Orla Mining Ltd. Common Shares Albino, George Vincent 4 15/02/2018 15 1.75 301,000 43,000 Orla Mining Ltd. Warrants Albino, George Vincent 4 15/02/2018 15 2.35 121,500 21,500 Orla Mining Ltd. Common Shares Goldcorp Inc. 3 15/02/2018 15 1.75 34,410,141 2,550,000 Orla Mining Ltd. Common Shares Haldane, Timothy Quentin 4 15/02/2018 15 1.75 78,500 28,500 Orla Mining Ltd. Warrants Haldane, Timothy Quentin 4 19/06/2017 00 Orla Mining Ltd. Warrants Haldane, Timothy Quentin 4 15/02/2018 15 2.35 14,250 14,250 Orla Mining Ltd. Common Shares Jeannes, Charles A. 4 15/02/2018 15 1.75 1,736,100 200,000 Orla Mining Ltd. Warrants Jeannes, Charles A. 4 15/02/2018 15 2.35 300,000 100,000 Orla Mining Ltd. Common Shares Lassonde, Pierre 3 08/07/2016 00 Orla Mining Ltd. Common Shares Lassonde, Pierre 3 13/02/2018 11 1.75 2,000,000 2,000,000 Orla Mining Ltd. Warrants Lassonde, Pierre 3 08/07/2016 00

February 22, 2018 (2018), 41 OSCB 1568

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Orla Mining Ltd. Warrants Lassonde, Pierre 3 13/02/2018 11 1,000,000 1,000,000 Orla Mining Ltd. Common Shares Prefontaine, Marc 3 15/02/2018 15 1.75 563,800 22,800 Orla Mining Ltd. Warrants Prefontaine, Marc 3 15/02/2018 15 2.35 131,400 11,400 Orla Mining Ltd. Common Shares Robertson, Paul Harold 5 15/02/2018 15 1.75 857,500 70,000 Orla Mining Ltd. Warrants Robertson, Paul Harold 5 15/02/2018 15 2.35 35,000 35,000 Orla Mining Ltd. Common Shares Robitaille, Jean 4 15/02/2018 15 1.75 1,777,450 176,000 Orla Mining Ltd. Warrants Robitaille, Jean 4 06/12/2016 00 Orla Mining Ltd. Warrants Robitaille, Jean 4 15/02/2018 15 2.35 88,000 88,000 ORTHO REGENERATIVE Common Shares Buschmann, Michael Daro 3, 4, 5 14/02/2018 10 0.65 2,114,222 -5,000 TECHNOLOGIES INC. Otis Gold Corp. Common Shares Lee-Barber, Christopher 3 14/02/2018 10 0.236 18,100,000 100,000 Geoffrey Palamina Corp. Common Shares Thomson, Andrew 4 09/02/2018 10 0.29 528,225 20,500 Palamina Corp. Common Shares Thomson, Andrew 4 09/02/2018 10 0.28 537,725 9,500 Palamina Corp. Common Shares Thomson, Andrew 4 09/02/2018 10 0.27 538,225 500 Pancontinental Gold Common Shares Whalen, Donald Alexander 4 14/02/2018 10 0.035 4,702,000 10,000 Corporation (formerly, Pancontinental Uranium Corporation) Paramount Resources Ltd. Common Shares Class A Wittenberg, Joerg 5 15/02/2018 51 14700 15,618 14,700 Paramount Resources Ltd. Common Shares Class A Wittenberg, Joerg 5 15/02/2018 10 17.07 918 -14,700 Paramount Resources Ltd. Options Wittenberg, Joerg 5 15/02/2018 51 8.17 84,800 -14,700 ParcelPal Technology Inc. Common Shares Moreau, Jason Wayne 4 08/02/2018 10 0.345 1,522,222 -10,000 (formerly Plus8 Global Ventures, Ltd.) ParcelPal Technology Inc. Common Shares Moreau, Jason Wayne 4 12/02/2018 10 0.295 1,507,222 -15,000 (formerly Plus8 Global Ventures, Ltd.) Parex Resources Inc. Common Shares DiStefano, Leo Nicholas 5 09/02/2018 10 17.125 110,000 10,000 Parex Resources Inc. Common Shares Engbloom, Robert John 4 09/02/2018 51 125,539 15,500 Parex Resources Inc. Common Shares Engbloom, Robert John 4 09/02/2018 10 17.666 110,039 -15,500 Parex Resources Inc. Options Engbloom, Robert John 4 09/02/2018 51 6.07 0 -15,500 Parex Resources Inc. Common Shares Sylvain, Carmen 4 09/02/2018 10 17.76 664 290 Pasinex Resources Limited Common Shares Seeley, Larry Edward 3, 4 09/02/2018 10 0.195 2,199,718 27,000 Pasinex Resources Limited Common Shares Seeley, Larry Edward 3, 4 09/02/2018 10 0.1985 2,272,218 72,500 Pasinex Resources Limited Common Shares Seeley, Larry Edward 3, 4 12/02/2018 10 0.195 2,273,718 1,500 Pasinex Resources Limited Common Shares Seeley, Larry Edward 3, 4 12/02/2018 10 0.2 2,293,718 20,000 Pasinex Resources Limited Common Shares Seeley, Larry Edward 3, 4 12/02/2018 10 0.1962 2,321,118 27,400 Pasinex Resources Limited Common Shares Seeley, Larry Edward 3, 4 12/02/2018 10 0.195 2,347,618 26,500 Pasinex Resources Limited Common Shares Seeley, Larry Edward 3, 4 13/02/2018 10 0.2 2,445,118 97,500 Pengrowth Energy Common Shares Schulich, Seymour 3 09/02/2018 10 0.8774 106,000,000 2,000,000 Corporation People Corporation Common Shares Kaufman, Celia 5 12/02/2018 51 1.75 30,207 8,000 People Corporation Options Kaufman, Celia 5 12/02/2018 51 1.75 -8,000 People Corporation Options Kaufman, Celia 5 12/02/2018 51 1.75 9,000 -8,000 Perpetual Energy Inc. Common Shares Green, Jeff 5 16/02/2018 90 30,470 -18,936 Perpetual Energy Inc. Common Shares Green, Jeff 5 30/06/2010 00 Perpetual Energy Inc. Common Shares Green, Jeff 5 16/02/2018 90 18,936 18,936 Perpetual Energy Inc. Common Shares Green, Jeff 5 16/02/2018 90 0 -18,936 Perpetual Energy Inc. Common Shares Green, Jeff 5 16/02/2018 90 0 -4,658 Perpetual Energy Inc. Common Shares Green, Jeff 5 16/02/2018 90 0 -5,350 PetroMaroc Corporation plc Common Shares Dundee Corporation 3 12/02/2018 11 0.0603 0 -13,275,804 (formerly Longreach Oil and Gas Limited) Phivida Holdings Inc. Options CORNWELL, MICHAEL 5 15/02/2018 00 500,000 RICHARD Pilot Gold Inc. Rights Restricted Share Bailey, Joanna 5 03/04/2017 00 Units Pilot Gold Inc. Rights Restricted Share Bailey, Joanna 5 03/04/2017 00 31,250 Units Plateau Uranium Inc. Common Shares Disbrow, Robert 3 09/02/2018 10 0.73 4,801,916 25,000 Plateau Uranium Inc. Common Shares Disbrow, Robert 3 12/02/2018 10 0.7013 5,001,916 200,000

February 22, 2018 (2018), 41 OSCB 1569

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Plateau Uranium Inc. Common Shares Disbrow, Robert 3 12/02/2018 10 0.7203 4,007,167 15,500 Plateau Uranium Inc. Common Shares Disbrow, Robert 3 13/02/2018 10 0.79 4,016,667 9,500 Plateau Uranium Inc. Common Shares Relling, Thomas Peter Max 3 13/02/2018 10 0.8 4,618,863 20,000 Plateau Uranium Inc. Common Shares Relling, Thomas Peter Max 3 13/02/2018 10 0.7701 4,583,863 -35,000 POET Technologies Inc. Common Shares Listwin, Don 4 19/01/2018 00 POET Technologies Inc. Common Shares Listwin, Don 4 12/02/2018 10 0.2683 200,000 200,000 POET Technologies Inc. Common Shares Listwin, Don 4 13/02/2018 10 0.2828 400,000 200,000 POET Technologies Inc. Common Shares Listwin, Don 4 14/02/2018 10 0.3056 531,250 131,250 POET Technologies Inc. Common Shares Mika, Thomas 5 02/11/2016 00 POET Technologies Inc. Common Shares Mika, Thomas 5 12/02/2018 10 0.2815 100,000 100,000 Power Americas Minerals Common Shares Place, James Howard 4 14/02/2018 10 0.23 40,000 -10,000 Corp. Precision Drilling Corporation Options Evasiuk, Douglas Brian 7 09/02/2018 52 524,400 -31,000 Precision Drilling Corporation Options Foley, Veronica H. 5 09/02/2018 52 140,200 -2,100 Precision Drilling Corporation Options Gambles, Leonard C. 7 09/02/2018 52 311,300 -25,900 Precision Drilling Corporation Options Hunter, Grant MacLeod 7 09/02/2018 52 510,200 -25,900 Precision Drilling Corporation Options Marks, Roland H. 7 09/02/2018 52 455,500 -25,900 Precision Drilling Corporation Options Neveu, Kevin A. 4, 5 09/02/2018 52 2,912,200 -197,500 Precision Drilling Corporation Options Pickering, William Ross 7 09/02/2018 52 455,500 -25,900 Precision Drilling Corporation Options Ruhr, Darren 5 09/02/2018 52 515,700 -41,300 Precision Drilling Corporation Options Ruhr, Darren 5 14/02/2018 52 465,700 -50,000 Precision Drilling Corporation Options Stahl, Gene 5 09/02/2018 52 856,300 -72,300 Precision Drilling Corporation Options Stickland, Wane Jacob 7 09/02/2018 52 190,700 -18,100 Premium Income Corporation Class A Shares Top 10 Canadian Financial 8 09/02/2018 10 7.09 21,500 -2,600 Trust Premium Income Corporation Class A Shares Top 10 Canadian Financial 8 13/02/2018 10 7.2063 17,800 -3,700 Trust Premium Income Corporation Class A Shares Top 10 Canadian Financial 8 14/02/2018 10 7.2258 13,600 -4,200 Trust Premium Income Corporation Class A Shares Top 10 Split Trust 8 09/02/2018 10 7.09 25,300 -3,000 Premium Income Corporation Class A Shares Top 10 Split Trust 8 13/02/2018 10 7.2063 21,000 -4,300 Premium Income Corporation Class A Shares Top 10 Split Trust 8 14/02/2018 10 7.2258 16,100 -4,900 Premium Income Corporation Class A Shares World Financial Split Corp. 8 09/02/2018 10 7.09 37,600 -4,400 Premium Income Corporation Class A Shares World Financial Split Corp. 8 13/02/2018 10 7.2063 31,200 -6,400 Premium Income Corporation Class A Shares World Financial Split Corp. 8 14/02/2018 10 7.2258 23,800 -7,400 Pretium Resources Inc. Common Shares Quartermain, Robert Allan 4, 5 14/02/2018 10 8.96 2,249,153 5,000 Prospero Silver Corp. Common Shares Murray, William 4 12/02/2018 10 0.13 2,447,504 48,500 Prospero Silver Corp. Common Shares Murray, William 4 12/02/2018 10 0.135 2,449,004 1,500 Prospero Silver Corp. Common Shares Murray, William 4 13/02/2018 10 0.135 2,479,004 30,000 Prospero Silver Corp. Common Shares Murray, William 4 13/02/2018 10 0.14 2,484,004 5,000 Pulse Seismic Inc. Common Shares Pulse Seismic Inc. 1 12/02/2018 38 3.1058 166,700 2,600 Pulse Seismic Inc. Common Shares Pulse Seismic Inc. 1 13/02/2018 38 3.0981 169,900 3,200 Puma Exploration Inc. Common Shares Robillard, Marcel 4, 5 13/02/2018 90 0.09 3,022,465 -30,000 Puma Exploration Inc. Common Shares Robillard, Marcel 4, 5 13/02/2018 90 0.09 2,121,500 30,000 PYROGENESIS CANADA Warrants Pascali, Photis Peter 3, 4, 5 09/02/2018 11 3,242,083 1,100,000 INC. Quadron Cannatech Common Shares MacDonald, Mike Robert 5 13/02/2018 00 801,184 Corporation (formerly Quadron Capital Corporation) Redknee Solutions Inc. Rights Performance Share Basu, Anindyaraj 5 16/05/2017 00 Units Redknee Solutions Inc. Rights Performance Share Basu, Anindyaraj 5 16/05/2017 00 33,722 Units REIT INDEXPLUS Income Trust Units REIT INDEXPLUS Income 1 09/02/2018 38 11.97 10,328,925 1,000 Fund Fund REIT INDEXPLUS Income Trust Units REIT INDEXPLUS Income 1 13/02/2018 38 12.1 10,329,225 300 Fund Fund Restaurant Brands Common Shares Hedayat, Ali 4 14/02/2018 10 72.86 35,000 5,000 International Inc. Return Energy Inc. Options Porter, Bradley Blair 4 10/01/2018 50 0.1 460,000 300,000

February 22, 2018 (2018), 41 OSCB 1570

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Ridgewood Canadian Units Ridgewood Capital Asset 3 09/02/2018 10 15 -6,919 Investment Grade Bond Management Fund Ridgewood Canadian Units Ridgewood Capital Asset 3 09/02/2018 10 15 -4,583 Investment Grade Bond Management Fund Ridgewood Canadian Units Ridgewood Capital Asset 3 09/02/2018 10 15 -4,580 Investment Grade Bond Management Fund Ridgewood Canadian Units Ridgewood Capital Asset 3 09/02/2018 10 15 -4,580 Investment Grade Bond Management Fund Ridgewood Canadian Units Ridgewood Capital Asset 3 09/02/2018 10 15 7,719 Investment Grade Bond Management Fund Ridgewood Canadian Units Ridgewood Capital Asset 3 09/02/2018 10 15 7,719 Investment Grade Bond Management Fund Ridgewood Canadian Units Ridgewood Capital Asset 3 09/02/2018 10 15 -2,851 Investment Grade Bond Management Fund Ridgewood Canadian Units Ridgewood Capital Asset 3 09/02/2018 10 15 7,098,568 -2,854 Investment Grade Bond Management Fund Ridgewood Canadian Units Ridgewood Capital Asset 3 09/02/2018 10 15 7,096,843 -1,725 Investment Grade Bond Management Fund Ridgewood Canadian Units Ridgewood Capital Asset 3 09/02/2018 11 15 7,096,836 -7 Investment Grade Bond Management Fund Ridgewood Canadian Units Ridgewood Capital Asset 3 09/02/2018 10 15 7,104,555 7,719 Investment Grade Bond Management Fund Ridgewood Canadian Units Ridgewood Capital Asset 3 13/02/2018 10 15 7,106,888 2,333 Investment Grade Bond Management Fund Ridgewood Canadian Units Ridgewood Capital Asset 3 13/02/2018 10 15 7,105,755 -1,133 Investment Grade Bond Management Fund Ridgewood Canadian Units Ridgewood Capital Asset 3 14/02/2018 10 15 7,106,458 703 Investment Grade Bond Management Fund Ridgewood Canadian Units Ridgewood Capital Asset 3 14/02/2018 10 15 7,106,065 -393 Investment Grade Bond Management Fund Ridgewood Canadian Units Ridgewood Capital Asset 3 14/02/2018 10 15 7,106,055 -10 Investment Grade Bond Management Fund Ridgewood Canadian Units Ridgewood Capital Asset 3 15/02/2018 10 15 7,120,055 14,000 Investment Grade Bond Management Fund Ridgewood Canadian Units Simpson, John H. 5 09/02/2018 10 15 16,841 -7 Investment Grade Bond Fund Ridgewood Canadian Units Simpson, John H. 5 14/02/2018 10 15 16,831 -10 Investment Grade Bond Fund Riley Resources Corp. Common Shares McKenzie, Bryan Mark 4 13/02/2018 90 0.105 270,000 -30,000 Albert Riley Resources Corp. Common Shares McKenzie, Bryan Mark 4 06/01/2015 00 Albert Riley Resources Corp. Common Shares McKenzie, Bryan Mark 4 13/02/2018 90 0.105 30,000 30,000 Albert Ring the Bell Capital Corp. Common Shares Dooley, Conor 4 30/11/2017 00 100,000 RIOCAN REAL ESTATE Trust Units Baum, Stuart Mitchell 5 13/02/2018 10 23.19 3,500 -100 INVESTMENT TRUST RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 23.87 717 717 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 38 23.88 1,417 700 INVESTMENT TRUST Investment Trust

February 22, 2018 (2018), 41 OSCB 1571

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 23.89 2,017 600 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 23.9 3,417 1,400 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 23.91 4,017 600 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 23.92 4,117 100 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 23.96 4,317 200 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 23.95 5,617 1,300 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 23.97 5,817 200 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 24.06 7,217 1,400 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 24.07 7,317 100 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 24.08 8,017 700 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 24.09 10,617 2,600 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 24.11 13,817 3,200 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 24.11 14,817 1,000 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 24.12 16,817 2,000 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 24.14 17,317 500 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 24.15 19,517 2,200 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 24.16 20,517 1,000 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 24.17 20,817 300 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 24.16 1,000 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 24.16 1,000 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 24.17 300 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 24.17 300 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 24.2 25,417 4,600 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 24.19 27,417 2,000 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 24.21 33,517 6,100 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 24.215 33,617 100 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 24.22 1,036,817 1,003,200 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 24.23 1,038,617 1,800 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 24.23 1,800 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 24.23 1,800 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 24.24 1,041,417 2,800 INVESTMENT TRUST Investment Trust RIOCAN REAL ESTATE Trust Units RioCan Real Estate 1 16/02/2018 22 24.26 1,041,717 300 INVESTMENT TRUST Investment Trust Riverside Resources Inc. Common Shares Staude, John-Mark Gardner 5 16/02/2018 10 0.235 1,524,960 5,000 RMR Science Technologies Common Shares DALLING, JUDI 5 15/02/2018 00 Inc.

February 22, 2018 (2018), 41 OSCB 1572

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed RMR Science Technologies Common Shares DALLING, JUDI 5 15/02/2018 15 0.05 100,000 100,000 Inc. RMR Science Technologies Common Shares Erickson, Ronald Peter 4 15/02/2018 00 Inc. RMR Science Technologies Common Shares Erickson, Ronald Peter 4 15/02/2018 15 0.05 1,200,000 1,200,000 Inc. RMR Science Technologies Common Shares Hutchison, John Michael 4 15/02/2018 00 Inc. RMR Science Technologies Common Shares Hutchison, John Michael 4 15/02/2018 15 0.05 100,000 100,000 Inc. RMR Science Technologies Common Shares Hutchison, Robin Bruce 4 15/02/2018 00 Inc. RMR Science Technologies Common Shares Hutchison, Robin Bruce 4 15/02/2018 15 0.05 1,200,000 1,200,000 Inc. Rogers Communications Inc. Deferred Share Units Hartling, Philip 7 01/07/2005 00 Rogers Communications Inc. Deferred Share Units Hartling, Philip 7 12/02/2018 97 5,331 5,331 Rogers Communications Inc. Non-Voting Shares Class Hartling, Philip 7 01/07/2005 00 B Rogers Communications Inc. Non-Voting Shares Class Hartling, Philip 7 12/02/2018 97 125 125 B Rogers Communications Inc. Non-Voting Shares Class Hartling, Philip 7 12/02/2018 10 57.324 5 -120 B Rogers Communications Inc. Options (Performance) Hartling, Philip 7 12/02/2018 97 0 -16,655 Rogers Communications Inc. Restricted Share Units Hartling, Philip 7 12/02/2018 97 16,704 8,161 Rogers Communications Inc. Stock Appreciation Rights Hartling, Philip 7 12/02/2018 97 0 -16,655 (Performance) Rogers Communications Inc. Deferred Share Units Hill, John Andrew 5 11/12/2017 00 6,206 Rogers Communications Inc. Restricted Share Units Hill, John Andrew 5 11/12/2017 00 9,088 Rogers Sugar Inc. Common Shares Khalil, Jean-Francois 5 31/12/2017 30 6.5 10,978 538 Royal Bank of Canada Rights Multi-Year Deferred McGregor, Alex Douglas 5 15/12/2014 56 78.852 25,364 Share Units Royal Bank of Canada Rights Multi-Year Deferred McGregor, Alex Douglas 5 15/12/2014 56 78.852 55,592 25,364 Share Units Royal Bank of Canada Rights Multi-Year Deferred McGregor, Alex Douglas 5 14/12/2015 56 74.28 26,925 Share Units Royal Bank of Canada Rights Multi-Year Deferred McGregor, Alex Douglas 5 14/12/2015 56 74.28 83,751 26,925 Share Units Royal Bank of Canada Rights Multi-Year Deferred McGregor, Alex Douglas 5 13/02/2018 56 91,560 5,296 Share Units Royal Bank of Canada Common Shares - Share McLaughlin, Neil 5 27/12/2017 30 4,749 525 Purchase Plans (RESSOP, DSSP, DSPP etc.) Royal Bank of Canada Common Shares - Share McLaughlin, Neil 5 27/12/2017 30 102.22 4,504 -245 Purchase Plans (RESSOP, DSSP, DSPP etc.) Royal Nickel Corporation Options McInnes, Donald Arthur 4 17/02/2018 52 1,980,830 -101,660 RT Minerals Corp. Common Shares Lofthouse, Mark Allen 4 08/02/2018 10 0.05 97,000 62,000 RT Minerals Corp. Common Shares Lofthouse, Mark Allen 4 08/02/2018 10 0.055 105,000 8,000 Rupert Resources Ltd. Common Shares Brimacombe, Alan Douglas 3 14/02/2018 10 0.86 19,765,300 22,500 Rupert Resources Ltd. Common Shares Brimacombe, Alan Douglas 3 14/02/2018 10 0.9 19,767,800 2,500 Russell Breweries Inc. Common Shares Notman, William Hugh 3 15/02/2018 10 0.015 10,563,900 1,500,000 Russell Breweries Inc. Common Shares Smith, Denver 3 14/02/2018 10 0.01 948,800 -6,000,000 Rye Patch Gold Corp. Common Shares BAKER, TIMOTHY CLIVE 4 12/01/2018 37 15,384 -84,616 Rye Patch Gold Corp. Common Shares BAKER, TIMOTHY CLIVE 4 12/02/2018 57 11233 11,233 Rye Patch Gold Corp. Common Shares BAKER, TIMOTHY CLIVE 4 12/02/2018 57 26,617 11,233 Rye Patch Gold Corp. Options BAKER, TIMOTHY CLIVE 4 12/01/2018 37 46,153 -253,847 Rye Patch Gold Corp. Options BAKER, TIMOTHY CLIVE 4 12/02/2018 50 79,853 33,700 Rye Patch Gold Corp. Restricted Share Units BAKER, TIMOTHY CLIVE 4 14/12/2016 00 Rye Patch Gold Corp. Restricted Share Units BAKER, TIMOTHY CLIVE 4 12/02/2018 56 33,700 33,700 Rye Patch Gold Corp. Restricted Share Units BAKER, TIMOTHY CLIVE 4 12/02/2018 57 22,467 -11,233 Rye Patch Gold Corp. Common Shares Challis, Jonathan 4 12/01/2018 37 9,692 -53,308 Rye Patch Gold Corp. Common Shares Challis, Jonathan 4 12/02/2018 57 11233 11,233

February 22, 2018 (2018), 41 OSCB 1573

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Rye Patch Gold Corp. Common Shares Challis, Jonathan 4 12/02/2018 57 20,925 11,233 Rye Patch Gold Corp. Common Shares Challis, Jonathan 4 12/01/2018 37 23,076 -126,924 Rye Patch Gold Corp. Options Challis, Jonathan 4 21/08/2014 52 0.2 450,000 -50,000 Rye Patch Gold Corp. Options Challis, Jonathan 4 25/05/2016 52 0.35 475,000 -50,000 Rye Patch Gold Corp. Options Challis, Jonathan 4 12/01/2018 37 188,461 -1,036,539 Rye Patch Gold Corp. Options Challis, Jonathan 4 12/02/2018 50 222,161 33,700 Rye Patch Gold Corp. Restricted Share Units Challis, Jonathan 4 14/03/2007 00 Rye Patch Gold Corp. Restricted Share Units Challis, Jonathan 4 12/02/2018 56 33,700 33,700 Rye Patch Gold Corp. Restricted Share Units Challis, Jonathan 4 12/02/2018 57 22,467 -11,233 Rye Patch Gold Corp. Common Shares Howald, William Carl 4, 5 12/01/2018 37 445,000 -2,447,500 Rye Patch Gold Corp. Common Shares Howald, William Carl 4, 5 12/02/2018 57 475,500 30,500 Rye Patch Gold Corp. Options Howald, William Carl 4, 5 21/08/2014 52 0.2 1,025,000 -300,000 Rye Patch Gold Corp. Options Howald, William Carl 4, 5 25/05/2016 52 0.35 1,175,000 -100,000 Rye Patch Gold Corp. Options Howald, William Carl 4, 5 12/01/2018 37 411,538 -2,263,462 Rye Patch Gold Corp. Options Howald, William Carl 4, 5 12/02/2018 50 591,838 180,300 Rye Patch Gold Corp. Restricted Share Units Howald, William Carl 4, 5 13/04/2006 00 Rye Patch Gold Corp. Restricted Share Units Howald, William Carl 4, 5 12/02/2018 56 91,500 91,500 Rye Patch Gold Corp. Restricted Share Units Howald, William Carl 4, 5 12/02/2018 57 61,000 -30,500 Rye Patch Gold Corp. Common Shares Jones, Douglas Matthew 5 12/02/2018 00 Rye Patch Gold Corp. Common Shares Jones, Douglas Matthew 5 12/02/2018 57 16,666 16,666 Rye Patch Gold Corp. Options Jones, Douglas Matthew 5 12/02/2018 00 100,000 Rye Patch Gold Corp. Restricted Share Units Jones, Douglas Matthew 5 12/02/2018 00 Rye Patch Gold Corp. Restricted Share Units Jones, Douglas Matthew 5 12/02/2018 56 50,000 50,000 Rye Patch Gold Corp. Restricted Share Units Jones, Douglas Matthew 5 12/02/2018 57 33,334 -16,666 Rye Patch Gold Corp. Common Shares Poznanski, Bernard 5 12/01/2018 37 20,559 -113,077 Rye Patch Gold Corp. Common Shares Poznanski, Bernard 5 12/01/2018 37 12,000 -66,000 Rye Patch Gold Corp. Common Shares Poznanski, Bernard 5 12/02/2018 57 18,433 6,433 Rye Patch Gold Corp. Options Poznanski, Bernard 5 25/05/2016 52 0.35 350,000 -25,000 Rye Patch Gold Corp. Options Poznanski, Bernard 5 12/01/2018 37 100,000 -550,000 Rye Patch Gold Corp. Options Poznanski, Bernard 5 12/02/2018 50 124,100 24,100 Rye Patch Gold Corp. Restricted Share Units Poznanski, Bernard 5 22/06/2007 00 Rye Patch Gold Corp. Restricted Share Units Poznanski, Bernard 5 12/02/2018 56 19,300 19,300 Rye Patch Gold Corp. Restricted Share Units Poznanski, Bernard 5 12/02/2018 57 12,867 -6,433 Rye Patch Gold Corp. Common Shares Russell, Charles J.G. 4 12/01/2018 37 23,076 -126,924 Rye Patch Gold Corp. Common Shares Russell, Charles J.G. 4 12/02/2018 57 34,309 11,233 Rye Patch Gold Corp. Options Russell, Charles J.G. 4 21/08/2014 52 0.2 450,000 -50,000 Rye Patch Gold Corp. Options Russell, Charles J.G. 4 25/05/2016 52 0.35 475,000 -50,000 Rye Patch Gold Corp. Options Russell, Charles J.G. 4 12/01/2018 37 188,461 -1,036,539 Rye Patch Gold Corp. Options Russell, Charles J.G. 4 12/02/2018 50 222,161 33,700 Rye Patch Gold Corp. Restricted Share Units Russell, Charles J.G. 4 22/01/2007 00 Rye Patch Gold Corp. Restricted Share Units Russell, Charles J.G. 4 12/02/2018 56 33,700 33,700 Rye Patch Gold Corp. Restricted Share Units Russell, Charles J.G. 4 12/02/2018 57 22,467 -11,233 Rye Patch Gold Corp. Common Shares Wood, Antony 5 01/09/2014 00 Rye Patch Gold Corp. Common Shares Wood, Antony 5 12/02/2018 57 24,066 24,066 Rye Patch Gold Corp. Options Wood, Antony 5 12/01/2018 37 215,384 -1,184,616 Rye Patch Gold Corp. Options Wood, Antony 5 12/02/2018 50 359,684 144,300 Rye Patch Gold Corp. Restricted Share Units Wood, Antony 5 01/09/2014 00 Rye Patch Gold Corp. Restricted Share Units Wood, Antony 5 12/02/2018 56 72,200 72,200 Rye Patch Gold Corp. Restricted Share Units Wood, Antony 5 12/02/2018 57 48,134 -24,066 Sabina Gold & Silver Corp. Common Shares Campbell, Angus 5 05/02/2018 10 1.75 122,500 4,000 Sabina Gold & Silver Corp. Common Shares McLeod, Donald Bruce 4 15/02/2018 10 1.81 740,000 10,000 Sanatana Resources Inc. Common Shares Miles, Peter Leighton 4, 5 15/02/2018 10 0.035 7,334,886 94,000 Saputo Inc. Common Shares Colizza, Carl 5 08/02/2018 10 40.04 14,557 656 Saputo Inc. Common Shares Colizza, Carl 5 08/02/2018 10 40.05 14,690 133 ScoZinc Mining Ltd. (formerly Common Shares Ringwald, Joseph Peter 5 13/02/2018 16 1.5 66,641 35,000 Selwyn Resources Ltd.) Scythian Biosciences Corp. Common Shares Aphria Inc. 3 13/02/2018 00 672,125 (previously: Kitrinor Metals Inc.)

February 22, 2018 (2018), 41 OSCB 1574

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Scythian Biosciences Corp. Warrants Aphria Inc. 3 13/02/2018 00 672,125 (previously: Kitrinor Metals Inc.) Seabridge Gold Inc. Common Shares Gonzalez-Urien, Eliseo 4 13/02/2018 51 12.6 119,765 50,000 Seabridge Gold Inc. Options Gonzalez-Urien, Eliseo 4 13/02/2018 51 12.6 70,000 -50,000 Seabridge Gold Inc. Common Shares Murphy, Robert Brent 5 13/02/2018 57 13.85 51,130 6,000 Seabridge Gold Inc. Common Shares Murphy, Robert Brent 5 14/02/2018 10 13.85 48,130 -3,000 Seabridge Gold Inc. Common Shares Murphy, Robert Brent 5 15/02/2018 51 12.6 78,130 30,000 Seabridge Gold Inc. Options Murphy, Robert Brent 5 15/02/2018 51 12.6 115,000 -30,000 Seabridge Gold Inc. Rights Restricted Share Murphy, Robert Brent 5 13/02/2018 57 5,000 -6,000 Units Seabridge Gold Inc. Common Shares Reynolds, Christopher 5 13/02/2018 57 93,792 6,000 Justin Seabridge Gold Inc. Common Shares Reynolds, Christopher 5 14/02/2018 10 91,056 -2,736 Justin Seabridge Gold Inc. Rights Restricted Share Reynolds, Christopher 5 13/02/2018 57 5,000 -6,000 Units Justin Seabridge Gold Inc. Common Shares Scott, Charles Bruce Scott 5 13/02/2018 36 39,700 6,500 Seabridge Gold Inc. Common Shares Scott, Charles Bruce Scott 5 13/02/2018 10 13.58 39,400 -300 Seabridge Gold Inc. Common Shares Scott, Charles Bruce Scott 5 13/02/2018 10 13.62 39,000 -400 Seabridge Gold Inc. Common Shares Scott, Charles Bruce Scott 5 13/02/2018 10 13.75 38,600 -400 Seabridge Gold Inc. Common Shares Scott, Charles Bruce Scott 5 14/02/2018 10 13.96 38,200 -400 Seabridge Gold Inc. Common Shares Scott, Charles Bruce Scott 5 14/02/2018 10 14.1 37,800 -400 Seabridge Gold Inc. Common Shares Scott, Charles Bruce Scott 5 14/02/2018 10 14.9 37,400 -400 Seabridge Gold Inc. Rights Restricted Share Scott, Charles Bruce Scott 5 13/02/2018 36 5,000 -6,500 Units Seabridge Gold Inc. Common Shares Threlkeld, William Earl II 5 13/02/2018 57 13.56 320,647 7,000 Seabridge Gold Inc. Rights Restricted Share Threlkeld, William Earl II 5 13/02/2018 57 -1,250 -7,000 Units Seabridge Gold Inc. Common Shares Trujillo, Gloria M. 8 13/02/2018 57 13.56 24,190 2,500 Seabridge Gold Inc. Rights Restricted Share Trujillo, Gloria M. 8 13/02/2018 57 1,750 -2,500 Units Seabridge Gold Inc. Common Shares Williams, Peter D. 5 13/02/2018 57 13.56 72,500 7,000 Seabridge Gold Inc. Rights Restricted Share Williams, Peter D. 5 13/02/2018 57 16,250 -7,000 Units Search Minerals Inc. Options Anderson, Matthew James 5 01/02/2018 50 0.08 450,000 200,000 Search Minerals Inc. Options Andrews, Gregory Paul 4, 5 14/02/2018 50 0.08 2,325,000 1,100,000 Search Minerals Inc. Options Bennett, Jocelyn Mary 4 02/10/2017 00 Search Minerals Inc. Options Bennett, Jocelyn Mary 4 14/02/2018 50 650,000 650,000 Search Minerals Inc. Options Dreisinger, David Bruce 4 14/02/2018 50 0.08 2,300,000 1,000,000 Search Minerals Inc. Options Power, Leo Patrick 4 11/01/2017 00 Search Minerals Inc. Options Power, Leo Patrick 4 14/02/2018 50 0.08 650,000 650,000 Seven Generations Energy Options Pre-IPO Brown, Kevin Jack 4 09/05/2017 51 2.5 -80,000 Ltd. Seven Generations Energy Options Pre-IPO Brown, Kevin Jack 4 09/05/2017 51 2.5 70,704 -80,000 Ltd. Seven Generations Energy Options Pre-IPO Brown, Kevin Jack 4 09/05/2017 51 2.5 -20,000 Ltd. Seven Generations Energy Options Pre-IPO Brown, Kevin Jack 4 09/05/2017 51 2.5 50,704 -20,000 Ltd. Seven Generations Energy Warrants Performance Brown, Kevin Jack 4 09/05/2017 54 3.75 -40,000 Ltd. Seven Generations Energy Warrants Performance Brown, Kevin Jack 4 09/05/2017 54 3.75 247,760 -40,000 Ltd. Seven Generations Energy Warrants Performance Brown, Kevin Jack 4 09/05/2017 54 4.5 -40,000 Ltd. Seven Generations Energy Warrants Performance Brown, Kevin Jack 4 09/05/2017 54 4.5 207,760 -40,000 Ltd. Seven Generations Energy Warrants Performance Brown, Kevin Jack 4 09/05/2017 54 5.25 -40,000 Ltd. Seven Generations Energy Warrants Performance Brown, Kevin Jack 4 09/05/2017 54 5.25 167,760 -40,000 Ltd. Seven Generations Energy Warrants Performance Brown, Kevin Jack 4 09/05/2017 54 6 -40,000 Ltd.

February 22, 2018 (2018), 41 OSCB 1575

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Seven Generations Energy Warrants Performance Brown, Kevin Jack 4 09/05/2017 54 6 127,760 -40,000 Ltd. Seven Generations Energy Warrants Performance Brown, Kevin Jack 4 09/05/2017 54 6.75 -40,000 Ltd. Seven Generations Energy Warrants Performance Brown, Kevin Jack 4 09/05/2017 54 6.75 87,760 -40,000 Ltd. Seven Generations Energy Warrants Performance Brown, Kevin Jack 4 09/05/2017 54 3.75 -10,000 Ltd. Seven Generations Energy Warrants Performance Brown, Kevin Jack 4 09/05/2017 54 3.75 77,760 -10,000 Ltd. Seven Generations Energy Warrants Performance Brown, Kevin Jack 4 09/05/2017 54 4.5 -10,000 Ltd. Seven Generations Energy Warrants Performance Brown, Kevin Jack 4 09/05/2017 54 4.5 67,760 -10,000 Ltd. Seven Generations Energy Warrants Performance Brown, Kevin Jack 4 09/05/2017 54 5.25 -10,000 Ltd. Seven Generations Energy Warrants Performance Brown, Kevin Jack 4 09/05/2017 54 5.25 57,760 -10,000 Ltd. Seven Generations Energy Warrants Performance Brown, Kevin Jack 4 09/05/2017 54 6 -10,000 Ltd. Seven Generations Energy Warrants Performance Brown, Kevin Jack 4 09/05/2017 54 6 47,760 -10,000 Ltd. Seven Generations Energy Warrants Performance Brown, Kevin Jack 4 09/05/2017 54 6.75 -10,000 Ltd. Seven Generations Energy Warrants Performance Brown, Kevin Jack 4 09/05/2017 54 6.75 37,760 -10,000 Ltd. Seven Generations Energy Common Shares Class A Brunner, Kyle 5 31/12/2017 30 21.32 2,230 781 Ltd. Seven Generations Energy Common Shares Class A Feltin, Christopher Wade 5 31/12/2017 30 21.35 2,826 2,528 Ltd. Seven Generations Energy Common Shares Class A Hnatuik, Randall Nickolas 5 31/12/2017 30 21.33 8,988 2,831 Ltd. Bruce Seven Generations Energy Common Shares Class A Hucik, Barry John 5 31/12/2017 30 21.34 9,823 3,094 Ltd. Seven Generations Energy Common Shares Class A Johnsen, Jordan 5 31/12/2017 30 21.33 7,576 2,041 Ltd. Seven Generations Energy Common Shares Class A Johnston, Kevin James 5 31/12/2017 30 21.33 1,591 1,251 Ltd. Seven Generations Energy Common Shares Class A Law, Christopher Tudor 5 31/12/2017 30 21.27 10,768 3,661 Ltd. Seven Generations Energy Common Shares Class A Nevokshonoff, Glen Allen 5 31/12/2017 30 21.18 9,914 3,568 Ltd. Seven Generations Energy Common Shares Class A Newmarch, Brian John 5 31/12/2017 30 21.29 6,728 2,331 Ltd. Seven Generations Energy Common Shares Class A Proctor, Marty Leigh 4, 5 31/12/2017 30 21.35 13,551 4,214 Ltd. Seven Generations Energy Common Shares Class A Raggett, Charlotte Sarah 5 31/12/2017 30 18.98 1,897 1,610 Ltd. Jane Seven Generations Energy Common Shares Class A Stauft, Timothy Lauer 5 31/12/2017 30 21.35 3,687 Ltd. Seven Generations Energy Common Shares Class A Stauft, Timothy Lauer 5 31/12/2017 30 21.35 3,687 Ltd. Seven Generations Energy Common Shares Class A Targett, Susan Elizabeth 5 29/10/2014 00 Ltd. Mabel Seven Generations Energy Common Shares Class A Targett, Susan Elizabeth 5 31/12/2017 30 19.64 2,540 2,540 Ltd. Mabel Sherritt International Common Shares Belanger, Maryse 4 07/02/2018 00 Corporation Sherritt International Deferred Share Units Belanger, Maryse 4 07/02/2018 00 Corporation Shopify Inc. Multiple Voting Shares Collins, Steven Alan 4 16/02/2018 51 4.22 5,000 5,000 Class B Multiple Voting Shares Shopify Inc. Multiple Voting Shares Collins, Steven Alan 4 16/02/2018 36 0 -5,000 Class B Multiple Voting Shares Shopify Inc. Options Collins, Steven Alan 4 16/02/2018 51 4.22 60,000 -5,000

February 22, 2018 (2018), 41 OSCB 1576

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Shopify Inc. Subordinate Voting Collins, Steven Alan 4 16/02/2018 36 5,000 5,000 Shares Class A Subordinate Voting Shares Shopify Inc. Subordinate Voting Collins, Steven Alan 4 16/02/2018 10 136.15 0 -5,000 Shares Class A Subordinate Voting Shares Shopify Inc. Multiple Voting Shares Finkelstein, Harley Michael 5 15/02/2018 51 0.16 5,308 5,308 Class B Multiple Voting Shares Shopify Inc. Multiple Voting Shares Finkelstein, Harley Michael 5 15/02/2018 36 0 -5,308 Class B Multiple Voting Shares Shopify Inc. Options Finkelstein, Harley Michael 5 15/02/2018 51 0.16 331,538 -5,308 Shopify Inc. Subordinate Voting Finkelstein, Harley Michael 5 15/02/2018 36 5,308 5,308 Shares Class A Subordinate Voting Shares Shopify Inc. Subordinate Voting Finkelstein, Harley Michael 5 15/02/2018 30 168.51 0 -5,308 Shares Class A Subordinate Voting Shares Shopify Inc. Subordinate Voting Jones, Russell Norman 5 12/02/2018 30 125.01 40,000 -5,000 Shares Class A Subordinate Voting Shares Shopify Inc. Subordinate Voting Jones, Russell Norman 5 15/02/2018 30 136.41 35,000 -5,000 Shares Class A Subordinate Voting Shares Shopify Inc. RSU Lennie, David William 5 13/02/2018 57 26,329 -1,269 Shopify Inc. Subordinate Voting Lennie, David William 5 13/02/2018 57 9,002 1,269 Shares Class A Subordinate Voting Shares Shopify Inc. Subordinate Voting Lennie, David William 5 13/02/2018 10 126.45 8,301 -701 Shares Class A Subordinate Voting Shares Shopify Inc. Subordinate Voting Lutke, Tobias Albin 4, 5 12/02/2018 30 125.56 146,329 -1,671 Shares Class A Subordinate Voting Shares Shopify Inc. Subordinate Voting Lutke, Tobias Albin 4, 5 12/02/2018 90 140,000 -6,329 Shares Class A Subordinate Voting Shares Shopify Inc. Subordinate Voting Lutke, Tobias Albin 4, 5 12/02/2018 90 6,329 6,329 Shares Class A Subordinate Voting Shares Shopify Inc. Subordinate Voting Lutke, Tobias Albin 4, 5 12/02/2018 30 125.56 0 -6,329 Shares Class A Subordinate Voting Shares Shopify Inc. Multiple Voting Shares Miller, Craig Stuart 5 14/02/2018 51 0.74 20,110 20,110 Class B Multiple Voting Shares Shopify Inc. Multiple Voting Shares Miller, Craig Stuart 5 14/02/2018 36 0 -20,110 Class B Multiple Voting Shares Shopify Inc. Options Miller, Craig Stuart 5 14/02/2018 51 0.74 380,204 -20,110 Shopify Inc. Subordinate Voting Miller, Craig Stuart 5 14/02/2018 36 20,110 20,110 Shares Class A Subordinate Voting Shares Shopify Inc. Subordinate Voting Miller, Craig Stuart 5 14/02/2018 30 126.4 0 -20,110 Shares Class A Subordinate Voting Shares

February 22, 2018 (2018), 41 OSCB 1577

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Sierra Wireless, Inc. Common Shares Aasen, Gregory D. 4 08/02/2018 57 21,154 677 Sierra Wireless, Inc. Common Shares Aasen, Gregory D. 4 08/02/2018 10 23.29 20,802 -352 Sierra Wireless, Inc. Common Shares Aasen, Gregory D. 4 13/02/2018 57 27,442 6,640 Sierra Wireless, Inc. Common Shares Aasen, Gregory D. 4 13/02/2018 10 20.37 23,992 -3,450 Sierra Wireless, Inc. Common Shares Aasen, Gregory D. 4 13/02/2018 57 24,959 967 Sierra Wireless, Inc. Common Shares Aasen, Gregory D. 4 14/02/2018 51 3,782 Sierra Wireless, Inc. Common Shares Aasen, Gregory D. 4 14/02/2018 51 11.64 28,741 3,782 Sierra Wireless, Inc. Common Shares Aasen, Gregory D. 4 14/02/2018 10 20.17 26,065 -2,676 Sierra Wireless, Inc. Options Aasen, Gregory D. 4 14/02/2018 51 11.64 10,904 -3,782 Sierra Wireless, Inc. Restricted Share Units Aasen, Gregory D. 4 08/02/2018 57 15,060 -677 Sierra Wireless, Inc. Restricted Share Units Aasen, Gregory D. 4 12/02/2018 56 20,639 5,579 Sierra Wireless, Inc. Restricted Share Units Aasen, Gregory D. 4 13/02/2018 57 13,999 -6,640 Sierra Wireless, Inc. Restricted Share Units Aasen, Gregory D. 4 13/02/2018 57 12,071 -1,928 Sierra Wireless, Inc. Common Shares Abrams, Robin Ann 4 08/02/2018 57 15,386 677 Sierra Wireless, Inc. Common Shares Abrams, Robin Ann 4 09/02/2018 57 15,955 569 Sierra Wireless, Inc. Common Shares Abrams, Robin Ann 4 13/02/2018 57 22,595 6,640 Sierra Wireless, Inc. Restricted Share Units Abrams, Robin Ann 4 08/02/2018 57 8,845 -677 Sierra Wireless, Inc. Restricted Share Units Abrams, Robin Ann 4 09/02/2018 57 8,276 -569 Sierra Wireless, Inc. Restricted Share Units Abrams, Robin Ann 4 12/02/2018 56 13,855 5,579 Sierra Wireless, Inc. Restricted Share Units Abrams, Robin Ann 4 13/02/2018 57 7,215 -6,640 Sierra Wireless, Inc. Common Shares Cataford, Paul G. 4 08/02/2018 57 9,007 677 Sierra Wireless, Inc. Common Shares Cataford, Paul G. 4 08/02/2018 10 23.29 8,668 -339 Sierra Wireless, Inc. Common Shares Cataford, Paul G. 4 13/02/2018 57 15,308 6,640 Sierra Wireless, Inc. Common Shares Cataford, Paul G. 4 13/02/2018 10 20.37 11,982 -3,326 Sierra Wireless, Inc. Common Shares Cataford, Paul G. 4 15/02/2018 51 11.64 12,010 28 Sierra Wireless, Inc. Common Shares Cataford, Paul G. 4 15/02/2018 10 20.43 11,982 -28 Sierra Wireless, Inc. Options Cataford, Paul G. 4 15/02/2018 51 11.64 8,754 -28 Sierra Wireless, Inc. Restricted Share Units Cataford, Paul G. 4 08/02/2018 57 10,464 -677 Sierra Wireless, Inc. Restricted Share Units Cataford, Paul G. 4 12/02/2018 56 16,043 5,579 Sierra Wireless, Inc. Restricted Share Units Cataford, Paul G. 4 13/02/2018 57 9,403 -6,640 Sierra Wireless, Inc. Common Shares Cohenour, Jason W. 4, 5 08/02/2018 57 336,738 11,210 Sierra Wireless, Inc. Common Shares Cohenour, Jason W. 4, 5 08/02/2018 10 18.65 331,553 -5,185 Sierra Wireless, Inc. Common Shares Cohenour, Jason W. 4, 5 09/02/2018 57 336,980 5,427 Sierra Wireless, Inc. Common Shares Cohenour, Jason W. 4, 5 13/02/2018 57 345,433 8,453 Sierra Wireless, Inc. Restricted Share Units Cohenour, Jason W. 4, 5 08/02/2018 57 64,616 -11,210 Sierra Wireless, Inc. Restricted Share Units Cohenour, Jason W. 4, 5 09/02/2018 57 55,201 -9,415 Sierra Wireless, Inc. Restricted Share Units Cohenour, Jason W. 4, 5 12/02/2018 56 116,800 61,599 Sierra Wireless, Inc. Restricted Share Units Cohenour, Jason W. 4, 5 13/02/2018 57 102,137 -14,663 Sierra Wireless, Inc. Common Shares Dodson, Bill Gary 5 08/02/2018 57 15,018 2,115 Sierra Wireless, Inc. Common Shares Dodson, Bill Gary 5 08/02/2018 10 23.29 13,919 -1,099 Sierra Wireless, Inc. Restricted Share Units Dodson, Bill Gary 5 08/02/2018 57 24,410 -2,115 Sierra Wireless, Inc. Common Shares Guillemette, Philippe 5 08/02/2018 57 5,542 2,115 Frederic Joel Rene Sierra Wireless, Inc. Common Shares Guillemette, Philippe 5 08/02/2018 10 23.29 4,443 -1,099 Frederic Joel Rene Sierra Wireless, Inc. Restricted Share Units Guillemette, Philippe 5 08/02/2018 57 27,478 -2,115 Frederic Joel Rene Sierra Wireless, Inc. Restricted Share Units Guillemette, Philippe 5 12/02/2018 56 41,425 13,947 Frederic Joel Rene Sierra Wireless, Inc. Common Shares Krause, Jason Lawrence 5 08/02/2018 57 33,935 2,115 Sierra Wireless, Inc. Common Shares Krause, Jason Lawrence 5 08/02/2018 10 23.29 32,836 -1,099 Sierra Wireless, Inc. Restricted Share Units Krause, Jason Lawrence 5 08/02/2018 57 27,252 -2,115 Sierra Wireless, Inc. Restricted Share Units Krause, Jason Lawrence 5 12/02/2018 56 41,199 13,947 Sierra Wireless, Inc. Common Shares Levine, Charles E. 4 08/02/2018 57 40,539 677 Sierra Wireless, Inc. Common Shares Levine, Charles E. 4 09/02/2018 57 41,108 569 Sierra Wireless, Inc. Common Shares Levine, Charles E. 4 13/02/2018 57 47,748 6,640 Sierra Wireless, Inc. Restricted Share Units Levine, Charles E. 4 08/02/2018 57 8,845 -677 Sierra Wireless, Inc. Restricted Share Units Levine, Charles E. 4 09/02/2018 57 8,276 -569 Sierra Wireless, Inc. Restricted Share Units Levine, Charles E. 4 12/02/2018 56 13,855 5,579

February 22, 2018 (2018), 41 OSCB 1578

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Sierra Wireless, Inc. Restricted Share Units Levine, Charles E. 4 13/02/2018 57 7,215 -6,640 Sierra Wireless, Inc. Common Shares Link, Rene Fernando 5 13/02/2018 57 10,028 1,635 Sierra Wireless, Inc. Restricted Share Units Link, Rene Fernando 5 12/02/2018 56 26,127 12,785 Sierra Wireless, Inc. Restricted Share Units Link, Rene Fernando 5 13/02/2018 57 23,361 -2,766 Sierra Wireless, Inc. Common Shares McLennan, David Gordon 5 08/02/2018 57 19,314 5,076 Sierra Wireless, Inc. Common Shares McLennan, David Gordon 5 08/02/2018 10 23.29 16,677 -2,637 Sierra Wireless, Inc. Restricted Share Units McLennan, David Gordon 5 08/02/2018 57 84,177 -5,076 Sierra Wireless, Inc. Restricted Share Units McLennan, David Gordon 5 12/02/2018 56 114,396 30,219 Sierra Wireless, Inc. Restricted Share Units Overton, Marc Anthony 5 12/02/2018 56 32,323 13,947 John McHardy Sierra Wireless, Inc. Common Shares Schieler, August Daniel 7 08/02/2018 57 12,922 2,623 Sierra Wireless, Inc. Common Shares Schieler, August Daniel 7 08/02/2018 10 18.65 11,826 -1,096 Sierra Wireless, Inc. Common Shares Schieler, August Daniel 7 09/02/2018 57 13,211 1,385 Sierra Wireless, Inc. Common Shares Schieler, August Daniel 7 13/02/2018 57 15,509 2,298 Sierra Wireless, Inc. Restricted Share Units Schieler, August Daniel 7 08/02/2018 57 16,446 -2,623 Sierra Wireless, Inc. Restricted Share Units Schieler, August Daniel 7 09/02/2018 57 14,243 -2,203 Sierra Wireless, Inc. Restricted Share Units Schieler, August Daniel 7 12/02/2018 56 30,515 16,272 Sierra Wireless, Inc. Restricted Share Units Schieler, August Daniel 7 13/02/2018 57 26,642 -3,873 Sierra Wireless, Inc. Common Shares Sieber, Thomas 4 08/02/2018 57 32,915 677 Sierra Wireless, Inc. Common Shares Sieber, Thomas 4 09/02/2018 57 33,484 569 Sierra Wireless, Inc. Common Shares Sieber, Thomas 4 13/02/2018 57 40,124 6,640 Sierra Wireless, Inc. Restricted Share Units Sieber, Thomas 4 08/02/2018 57 8,845 -677 Sierra Wireless, Inc. Restricted Share Units Sieber, Thomas 4 09/02/2018 57 8,276 -569 Sierra Wireless, Inc. Restricted Share Units Sieber, Thomas 4 12/02/2018 56 13,855 5,579 Sierra Wireless, Inc. Restricted Share Units Sieber, Thomas 4 13/02/2018 57 7,215 -6,640 Sierra Wireless, Inc. Common Shares Teyssier, Pierre Jean Benoit 5 08/02/2018 57 24,401 2,115 Sierra Wireless, Inc. Restricted Share Units Teyssier, Pierre Jean Benoit 5 08/02/2018 57 12,192 -2,115 Sierra Wireless, Inc. Restricted Share Units Teyssier, Pierre Jean Benoit 5 12/02/2018 56 23,815 11,623 Sierra Wireless, Inc. Common Shares Thexton, Kent Paul 4 08/02/2018 57 2,115 Sierra Wireless, Inc. Common Shares Thexton, Kent Paul 4 08/02/2018 57 2,115 Sierra Wireless, Inc. Common Shares Thexton, Kent Paul 4 08/02/2018 57 18,082 677 Sierra Wireless, Inc. Common Shares Thexton, Kent Paul 4 08/02/2018 10 23.29 17,703 -379 Sierra Wireless, Inc. Common Shares Thexton, Kent Paul 4 13/02/2018 57 24,343 6,640 Sierra Wireless, Inc. Common Shares Thexton, Kent Paul 4 13/02/2018 10 20.37 20,634 -3,709 Sierra Wireless, Inc. Restricted Share Units Thexton, Kent Paul 4 08/02/2018 57 -2,115 Sierra Wireless, Inc. Restricted Share Units Thexton, Kent Paul 4 08/02/2018 57 -2,115 Sierra Wireless, Inc. Restricted Share Units Thexton, Kent Paul 4 12/02/2018 56 17,288 5,579 Sierra Wireless, Inc. Restricted Share Units Thexton, Kent Paul 4 13/02/2018 57 16,611 -677 Sierra Wireless, Inc. Restricted Share Units Thexton, Kent Paul 4 13/02/2018 57 9,971 -6,640 Silver Bear Resources Plc Ordinary Shares Gualtieri, Dominic 4 08/02/2018 10 0.26 600,000 -111,294 Silver Viper Minerals Corp. Options Hartzenberg, Carla 5 09/02/2018 00 Silver Viper Minerals Corp. Options Hartzenberg, Carla 5 09/02/2018 50 0.25 400,000 400,000 Silver Viper Minerals Corp. Options Tsakumis, Alexander 5 09/02/2018 50 0.25 400,000 400,000 Silver Viper Minerals Corp. Options Wilmot, Ross 4 26/04/2016 00 Silver Viper Minerals Corp. Options Wilmot, Ross 4 09/02/2018 50 0.25 300,000 300,000 SILVERCORP METALS INC. Common Shares without Silvercorp Metals Inc. 1 09/02/2018 10 2.9399 133,800 133,800 par value SILVERCORP METALS INC. Common Shares without Silvercorp Metals Inc. 1 12/02/2018 10 3.2445 207,300 73,500 par value SILVERCORP METALS INC. Common Shares without Silvercorp Metals Inc. 1 13/02/2018 10 3.2404 330,000 122,700 par value SILVERCORP METALS INC. Common Shares without Silvercorp Metals Inc. 1 14/02/2018 10 3.4082 414,500 84,500 par value Solium Capital Inc. Common Shares Abbott, Shawn 4 31/12/2017 30 9.18 12,304 2,397 Solium Capital Inc. Common Shares Hall, Cameron 5 31/12/2017 30 9.27 21,398 6,135 Solium Capital Inc. Common Shares Muir, Thomas Pinaud 4 31/12/2017 30 9.18 61,032 3,662 Solium Capital Inc. Common Shares Sharpe, Michael Douglas 5 31/12/2017 30 9.17 75,118 4,137 Solium Capital Inc. Common Shares Titchkosky, Lance Kenneth 5 31/12/2017 30 9.33 272,705 1,361 Shade Solium Capital Inc. Common Shares Webster, Janice 5 31/12/2017 30 9.38 15,313 996

February 22, 2018 (2018), 41 OSCB 1579

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Sonoro Metals Corp. Common Shares MacLeod, Kenneth 4, 5 14/02/2018 10 0.175 3,352,667 10,000 Sonoro Metals Corp. Common Shares MacLeod, Kenneth 4, 5 14/02/2018 10 0.17 3,357,667 5,000 Sonoro Metals Corp. Common Shares MacLeod, Kenneth 4, 5 14/02/2018 10 0.165 3,365,167 7,500 Sonoro Metals Corp. Common Shares MacLeod, Kenneth 4, 5 16/02/2018 10 0.18 3,390,167 25,000 Sparton Resources Inc. Common Shares Ding, Yongbiao 5 07/02/2018 10 0.1 954,800 -16,000 Sparton Resources Inc. Common Shares Ding, Yongbiao 5 08/02/2018 10 0.1 936,800 -18,000 Spectral Medical Inc. Options Bihl, Anthony Phillip 4 13/02/2018 50 0.395 366,250 166,250 Spectral Medical Inc. Options Foster, Debra-Anne 8 13/02/2018 50 0.395 751,280 205,000 Spectral Medical Inc. Options Giese, Kevin Arnold 4 07/02/2018 52 0.21 200,000 -50,000 Spectral Medical Inc. Options Giese, Kevin Arnold 4 13/02/2018 50 0.395 250,000 50,000 Spectral Medical Inc. Options Guadagni, Gualtiero Piero 5 13/02/2018 50 0.395 808,945 205,000 Guido Maria Spectral Medical Inc. Options Herrera, Guillermo Alfonso 4 13/02/2018 50 0.395 282,500 132,500 Spectral Medical Inc. Options Stevens, William Charles 4 13/02/2018 50 0.395 329,750 104,750 Spectral Medical Inc. Common Shares WALKER, PAUL M. 5 12/02/2018 10 0.21 100,000 Spectral Medical Inc. Common Shares WALKER, PAUL M. 5 12/02/2018 51 0.21 100,000 Spectral Medical Inc. Common Shares WALKER, PAUL M. 5 12/02/2018 51 0.21 1,464,096 100,000 Spectral Medical Inc. Options WALKER, PAUL M. 5 12/02/2018 52 0.21 -300,000 Spectral Medical Inc. Options WALKER, PAUL M. 5 12/02/2018 52 0.21 2,456,465 -300,000 Spectral Medical Inc. Options WALKER, PAUL M. 5 12/02/2018 51 0.21 -100,000 Spectral Medical Inc. Options WALKER, PAUL M. 5 12/02/2018 51 0.21 2,356,465 -100,000 Spectral Medical Inc. Options WALKER, PAUL M. 5 13/02/2018 50 0.395 3,311,465 955,000 Spectral Medical Inc. Options Wieland, Richard 5 01/02/2018 00 Spectral Medical Inc. Options Wieland, Richard 5 13/02/2018 50 0.395 75,000 75,000 Sprott Energy Opportunities Trust Units Sprott Energy Opportunities 1 09/02/2018 38 5.04 38 38 Trust Trust Sprott Energy Opportunities Trust Units Sprott Energy Opportunities 1 09/02/2018 38 0 -38 Trust Trust Sprott Inc. Common Shares Sprott, Eric S. 3 14/02/2018 10 3 -602,300 Sprott Inc. Common Shares Sprott, Eric S. 3 14/02/2018 10 3.0063 13,211,878 -602,300 Sprott Physical Gold and Trust Units Sprott Inc. 7 14/02/2018 10 13.477 877,826 -365,000 Silver Trust Sprott Resource Holdings EPSP Designation Yuzpe, Stephen Mark 4, 5 15/02/2018 56 0.14 2,628,085 24,971 Inc. (formerly Adriana Resources Inc. ) SQI Diagnostics Inc. Common Shares Connor, Gerald R. 4 08/02/2018 10 0.165 3,404,503 7,000 SQI Diagnostics Inc. Common Shares Connor, Gerald R. 4 09/02/2018 10 0.178 3,678,003 273,500 SQI Diagnostics Inc. Warrants Connor, Gerald R. 4 12/02/2018 11 1,136,900 -2,000 SQI Diagnostics Inc. Warrants Connor, Gerald R. 4 12/02/2018 11 94,100 2,000 Starcore International Mines Common Shares Eadie, Robert 4, 5 08/02/2018 10 0.23 2,677,742 96,500 Ltd. Starcore International Mines Common Shares Eadie, Robert 4, 5 09/02/2018 10 0.23 2,686,242 8,500 Ltd. Starcore International Mines Common Shares Eadie, Robert 4, 5 12/02/2018 10 0.23 2,712,242 26,000 Ltd. Starcore International Mines Common Shares Eadie, Robert 4, 5 13/02/2018 10 0.23 2,715,742 3,500 Ltd. Starcore International Mines Common Shares Eadie, Robert 4, 5 14/02/2018 10 0.23 2,725,242 9,500 Ltd. Stingray Digital Group Inc. Deferred Share Units Blondin, Claudine 4 31/12/2017 56 8.7423 18,119 324 (DSU) Stingray Digital Group Inc. Deferred Share Units Blondin, Claudine 4 12/02/2018 56 10.03 19,615 1,496 (DSU) Stingray Digital Group Inc. Deferred Share Units Boyko, Éric 3, 4, 5 31/12/2017 56 9.3837 25,805 273 (DSU) Stingray Digital Group Inc. Performance Share Units Boyko, Éric 3, 4, 5 31/12/2017 56 8.7416 54,286 831 (PSU) Stingray Digital Group Inc. Performance Share Units Côté, Sébastien 5 31/12/2017 56 9.3641 3,890 41 (PSU) Stingray Digital Group Inc. Subordinate Voting Côté, Sébastien 5 08/06/2017 00 Shares Stingray Digital Group Inc. Subordinate Voting Côté, Sébastien 5 31/12/2017 30 9.6321 208 208 Shares

February 22, 2018 (2018), 41 OSCB 1580

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Stingray Digital Group Inc. Performance Share Units Dubois, Mario 5 31/12/2017 56 8.7416 18,932 306 (PSU) Stingray Digital Group Inc. Subordinate Voting Dubois, Mario 5 31/12/2017 30 9.6321 197,808 586 Shares Stingray Digital Group Inc. Performance Share Units Feldman, Lloyd Perry 5 31/12/2017 56 8.7416 18,932 306 (PSU) Stingray Digital Group Inc. Subordinate Voting Feldman, Lloyd Perry 5 26/05/2015 00 Shares Stingray Digital Group Inc. Subordinate Voting Feldman, Lloyd Perry 5 31/12/2017 30 9.6321 131 131 Shares Stingray Digital Group Inc. Performance Share Units Khuong, Ratha 5 31/12/2017 56 8.7416 8,188 128 (PSU) Stingray Digital Group Inc. Subordinate Voting Khuong, Ratha 5 31/12/2017 30 9.6321 93,146 73 Shares Stingray Digital Group Inc. Performance Share Units Lepage, Marie Ginette 5 31/12/2017 56 9.3641 9,143 97 (PSU) Stingray Digital Group Inc. Subordinate Voting Lepage, Marie Ginette 5 06/03/2017 00 Shares Stingray Digital Group Inc. Subordinate Voting Lepage, Marie Ginette 5 31/12/2017 30 9.6321 67 67 Shares Stingray Digital Group Inc. Deferred Share Units Parisien, Jacques 4 31/12/2017 56 8.7423 20,249 366 (DSU) Stingray Digital Group Inc. Deferred Share Units Parisien, Jacques 4 12/02/2018 56 10.03 21,720 1,471 (DSU) Stingray Digital Group Inc. Deferred Share Units Pathy, Mark 4 31/12/2017 56 8.7423 18,915 329 (DSU) Stingray Digital Group Inc. Deferred Share Units Pathy, Mark 4 12/02/2018 56 10.03 21,084 2,169 (DSU) Stingray Digital Group Inc. Performance Share Units Péloquin, Mathieu 5 31/12/2017 56 8.7416 18,932 306 (PSU) Stingray Digital Group Inc. Subordinate Voting Péloquin, Mathieu 5 31/12/2017 30 9.6321 59,825 469 Shares Stingray Digital Group Inc. Deferred Share Units Purdy, David 4 31/12/2017 56 8.7423 1,581 8 (DSU) Stingray Digital Group Inc. Deferred Share Units Purdy, David 4 12/02/2018 56 10.03 2,902 1,321 (DSU) Stingray Digital Group Inc. Deferred Share Units Rich, Gary 4 31/12/2017 56 8.8177 18,801 337 (DSU) Stingray Digital Group Inc. Deferred Share Units Rich, Gary 4 12/02/2018 56 10.088 20,139 1,338 (DSU) Stingray Digital Group Inc. Deferred Share Units STEELE, ROBERT 4 12/02/2018 56 10.03 19,237 1,321 (DSU) GEORGE Stingray Digital Group Inc. Performance Share Units Tapp, Stephen 5 31/12/2017 56 8.7416 7,807 128 (PSU) Stingray Digital Group Inc. Performance Share Units Trahan, Jean-Pierre 5 31/12/2017 56 8.7416 18,932 306 (PSU) Stingray Digital Group Inc. Subordinate Voting Trahan, Jean-Pierre 5 31/12/2017 30 9.6321 144,621 586 Shares Stingray Digital Group Inc. Deferred Share Units Tremblay, Pascal 4 31/12/2017 56 8.7423 21,121 379 (DSU) Stingray Digital Group Inc. Deferred Share Units Tremblay, Pascal 4 12/02/2018 56 10.03 22,816 1,695 (DSU) Stingray Digital Group Inc. Performance Share Units Zamuner, Valery 5 31/12/2017 56 9.3641 7,816 83 (PSU) Stingray Digital Group Inc. Subordinate Voting Zamuner, Valery 5 31/12/2017 30 9.6321 10,033 33 Shares Storm Resources Ltd. Common Shares Brussa, John Albert 4 31/12/2017 30 3.92 597,103 7,166 Storm Resources Ltd. Common Shares Butler, Mark 4 31/12/2017 30 3.92 36,943 8,883 Storm Resources Ltd. Common Shares Evans, Hayden Darren 5 12/02/2018 30 3.74 696,058 15,705 Storm Resources Ltd. Common Shares Kimpton, Bret Alan 5 31/12/2017 30 3.72 411,210 14,611 Stuart Olson Inc. Common Shares Atkinson, Herbert Arthur 5 31/12/2017 30 5.568 6,424 5,568 Stuart Olson Inc. Rights Deferred Share Ballantyne, Richard Thomas 4 31/12/2017 56 7.11 56,238 1,933 Units (DSUs) Stuart Olson Inc. Rights Deferred Share Ballantyne, Richard Thomas 4 31/12/2017 30 5.43 60,791 4,553 Units (DSUs)

February 22, 2018 (2018), 41 OSCB 1581

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Stuart Olson Inc. Rights Deferred Share Ballantyne, Richard Thomas 4 02/01/2018 56 7.11 1,758 Units (DSUs) Stuart Olson Inc. Rights Deferred Share Ballantyne, Richard Thomas 4 02/01/2018 56 7.11 1,933 Units (DSUs) Stuart Olson Inc. Rights Deferred Share Bellstedt, Albrecht Wilhelm 4 31/12/2017 56 7.11 113,408 2,461 Units (DSUs) Albert Stuart Olson Inc. Rights Deferred Share Bellstedt, Albrecht Wilhelm 4 31/12/2017 30 5.43 123,040 9,632 Units (DSUs) Albert Stuart Olson Inc. Rights Deferred Share Bellstedt, Albrecht Wilhelm 4 02/01/2018 56 7.11 2,461 Units (DSUs) Albert Stuart Olson Inc. Rights Deferred Share Danard, Chad 4 31/12/2017 56 7.11 71,678 1,758 Units (DSUs) Stuart Olson Inc. Rights Deferred Share Danard, Chad 4 31/12/2017 30 5.43 77,589 5,911 Units (DSUs) Stuart Olson Inc. Rights Deferred Share Danard, Chad 4 02/01/2018 56 7.11 1,758 Units (DSUs) Stuart Olson Inc. Common Shares Decore, Joette 5 31/12/2017 30 5.41 39,260 7,973 Stuart Olson Inc. Rights Deferred Share Graham, Roderick William 4 31/12/2017 56 7.11 55,589 1,758 Units (DSUs) Stuart Olson Inc. Rights Deferred Share Graham, Roderick William 4 31/12/2017 30 5.43 60,126 4,537 Units (DSUs) Stuart Olson Inc. Rights Deferred Share Graham, Roderick William 4 02/01/2018 56 7.11 1,758 Units (DSUs) Stuart Olson Inc. Rights Deferred Share Hanrahan, Wendy 4 31/12/2017 56 7.11 104,395 2,285 Units (DSUs) Stuart Olson Inc. Rights Deferred Share Hanrahan, Wendy 4 31/12/2017 30 5.43 113,258 8,863 Units (DSUs) Stuart Olson Inc. Rights Deferred Share Hanrahan, Wendy 4 02/01/2018 56 7.11 1,758 Units (DSUs) Stuart Olson Inc. Rights Deferred Share Hanrahan, Wendy 4 02/01/2018 56 7.11 2,285 Units (DSUs) Stuart Olson Inc. Common Shares Krill, John Peter 5, 2 31/12/2017 30 5.565 3,481 3,481 Stuart Olson Inc. Rights Deferred Share LeMay, David 5 31/12/2017 30 5.43 3,269 274 Units (DSUs) Stuart Olson Inc. Rights Deferred Share Loberg, Carmen Richard 4 31/12/2017 56 7.11 111,510 2,285 Units (DSUs) Stuart Olson Inc. Rights Deferred Share Loberg, Carmen Richard 4 31/12/2017 30 5.43 121,023 9,513 Units (DSUs) Stuart Olson Inc. Rights Deferred Share Loberg, Carmen Richard 4 02/01/2018 56 7.11 1,758 Units (DSUs) Stuart Olson Inc. Rights Deferred Share Loberg, Carmen Richard 4 02/01/2018 56 7.11 2,285 Units (DSUs) Stuart Olson Inc. Common Shares Myles, Robert J. 5 31/12/2017 30 5.533 13,637 8,153 Stuart Olson Inc. Common Shares Pohl, William Howard 5 06/04/2017 00 Stuart Olson Inc. Common Shares Pohl, William Howard 5 06/04/2017 00 10,344 Stuart Olson Inc. Common Shares Pohl, William Howard 5 31/12/2017 30 5.466 15,216 4,872 Stuart Olson Inc. Rights Deferred Share Reid, Ian MacNevin 4 31/12/2017 56 7.11 123,448 2,812 Units (DSUs) Stuart Olson Inc. Rights Deferred Share Reid, Ian MacNevin 4 31/12/2017 30 5.43 133,908 10,460 Units (DSUs) Stuart Olson Inc. Rights Deferred Share Reid, Ian MacNevin 4 02/01/2018 56 7.11 2,812 Units (DSUs) Stuart Olson Inc. Common Shares Sands, Daryl 5 31/12/2017 30 5.558 83,028 7,708 Stuart Olson Inc. Rights Deferred Share Sands, Daryl 5 31/12/2017 30 5.43 9,344 782 Units (DSUs) Stuart Olson Inc. Common Shares Stone, Richard Daniel 5 01/04/2017 00 Stuart Olson Inc. Common Shares Stone, Richard Daniel 5 31/12/2017 30 5.569 4,542 4,542 Sun Life Financial Inc. Units Sun Shares Accum, Claude 5 14/02/2018 56 39.21 4,049 Sun Life Financial Inc. Units Sun Shares Accum, Claude 5 14/02/2018 56 39.21 4,049 Sun Life Financial Inc. Units Sun Shares Accum, Claude 5 14/02/2018 56 39.21 62,825 4,049 Sun Life Financial Inc. Units Sun Shares Blair, Carolyn Diane 5 14/02/2018 56 39.21 42,392 2,632 Sun Life Financial Inc. Units Sun Shares Connor, Dean 4, 5 14/02/2018 56 39.21 314,117 20,243 Sun Life Financial Inc. Units Sun Shares Dougherty, Kevin 5 14/02/2018 56 39.21 94,904 6,275 Sun Life Financial Inc. Units Sun Shares Fishbein, Daniel 5 14/02/2018 56 39.21 86,932 5,055 Sun Life Financial Inc. Units Sun Shares Freyne, Colm Joseph 5 14/02/2018 53 39.21 69,999 4,049

February 22, 2018 (2018), 41 OSCB 1582

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Sun Life Financial Inc. Units Sun Shares Kennedy, Melissa Jane 5 14/02/2018 56 39.21 39,328 2,429 Sun Life Financial Inc. Units Sun Shares Morrissey, Kevin 5 14/02/2018 53 39.21 21,048 1,350 Sun Life Financial Inc. Units Sun Shares Peacher, Stephen 5 14/02/2018 56 39.21 142,888 7,583 Sun Life Financial Inc. Units Sun Shares Saunders, Mark 5 14/02/2018 56 39.21 43,659 2,834 Sun Life Financial Inc. Units Sun Shares Strain, Kevin 5 14/02/2018 56 39.21 73,589 4,049 Sun Life Financial Inc. Units Sun Shares Van den Hoogen, Marlene 5 14/02/2018 56 39.21 11,740 729 Suncor Energy Inc. Performance Share Units Axford, Eric Charles 5 15/02/2018 59 44.19 66,057 -38,445 Suncor Energy Inc. Performance Share Units Cowan, Alister 5 15/02/2018 59 44.19 74,131 -46,133 Suncor Energy Inc. Common Shares D'Alessandro, Dominic 4 14/02/2018 10 42.2 70,000 30,000 Suncor Energy Inc. Performance Share Units Gardner, Paul Douglas 5 15/02/2018 59 44.19 48,383 -26,362 Suncor Energy Inc. Performance Share Units Little, Mark Stephen 5 15/02/2018 59 44.19 90,519 -46,133 Suncor Energy Inc. Performance Share Units MacSween, Michael 5 15/02/2018 59 44.19 75,084 -46,134 Roderick Suncor Energy Inc. Performance Share Units Odegaard, Janice 5 15/02/2018 59 44.19 48,459 -26,362 Suncor Energy Inc. Performance Share Units Reynish, Stephen David Lile 5 15/02/2018 59 44.19 73,431 -42,838 Suncor Energy Inc. Performance Share Units Smith, Kristopher Peter 5 15/02/2018 59 44.19 74,231 -42,838 Suncor Energy Inc. Performance Share Units Williams, Steven Walter 5 15/02/2018 59 44.19 256,207 -131,810 Sunniva Inc. Common Shares Patrick, Todd Robert 4 17/11/2017 00 Sunniva Inc. Common Shares Patrick, Todd Robert 4 17/11/2017 00 Sunniva Inc. Options Patrick, Todd Robert 4 17/11/2017 00 Sunniva Inc. Options Patrick, Todd Robert 4 17/11/2017 00 Superior Plus Corp. Common Shares Summers, Elizabeth 5 16/02/2018 10 12.29 9,600 1,600 Surge Energy Inc. Common Shares Colborne, Paul 4 15/01/2018 30 2.1694 3,935,036 846 Surge Energy Inc. Common Shares Colborne, Paul 4 31/01/2018 30 1.96 3,938,744 882 Surge Energy Inc. Common Shares Colborne, Paul 4 15/02/2018 10 1.78 3,939,279 535 Surge Energy Inc. Common Shares Colborne, Paul 4 15/02/2018 10 1.8399 489,352 5,000 Symphony Floating Rate Units Class A Kikuchi, Craig 4, 7, 5 08/02/2018 22 4,551 Senior Loan Fund Symphony Floating Rate Units Class A Kikuchi, Craig 4, 7, 5 08/02/2018 22 9,909 4,574 Senior Loan Fund Tanzanian Royalty Common Shares Harvey, William 4 12/02/2018 10 0.357 280,424 -10,000 Exploration Corporation TELUS Corporation Common Shares Auchinleck, Richard H. 4 09/02/2018 30 20,699 83 (Dick) TELUS Corporation Common Shares Auchinleck, Richard H. 4 09/02/2018 30 44.52 21,483 784 (Dick) TELUS Corporation Common Shares Bates, Philip 5 09/02/2018 30 9,803 103 TELUS Corporation Common Shares Bates, Philip 5 09/02/2018 30 303 TELUS Corporation Common Shares Bates, Philip 5 09/02/2018 30 27,716 303 TELUS Corporation Common Shares Bates, Philip 5 09/02/2018 30 150 TELUS Corporation Common Shares Bates, Philip 5 09/02/2018 30 27,866 150 TELUS Corporation Common Shares Bates, Philip 5 09/02/2018 30 28,009 143 TELUS Corporation Common Shares Bates, Philip 5 09/02/2018 10 44.52 28,243 234 TELUS Corporation Restricted Share Units Bates, Philip 5 09/02/2018 30 47.56 70,585 -464 TELUS Corporation Common Shares Blair, Joshua Andrew 5 09/02/2018 30 96,293 278 TELUS Corporation Common Shares Blair, Joshua Andrew 5 09/02/2018 30 96,618 325 TELUS Corporation Common Shares Blair, Joshua Andrew 5 09/02/2018 30 695 TELUS Corporation Common Shares Blair, Joshua Andrew 5 09/02/2018 30 97,313 695 TELUS Corporation Common Shares Blair, Joshua Andrew 5 09/02/2018 10 44.52 99,438 2,125 TELUS Corporation Restricted Share Units Blair, Joshua Andrew 5 09/02/2018 30 153,840 1,625 TELUS Corporation Restricted Share Units Blair, Joshua Andrew 5 09/02/2018 30 47.56 149,877 -3,963 TELUS Corporation Common Shares Day, Stockwell 4 09/02/2018 30 6,637 70 TELUS Corporation Common Shares Day, Stockwell 4 09/02/2018 30 44.52 6,877 240 TELUS Corporation Common Shares French, Douglas 5 09/02/2018 30 7,152 85 TELUS Corporation Common Shares French, Douglas 5 09/02/2018 30 7,180 28 TELUS Corporation Common Shares French, Douglas 5 09/02/2018 30 24 TELUS Corporation Common Shares French, Douglas 5 09/02/2018 30 7,205 25 TELUS Corporation Common Shares French, Douglas 5 09/02/2018 10 44.52 7,438 233 TELUS Corporation Restricted Share Units French, Douglas 5 09/02/2018 30 47.56 68,736 -438 TELUS Corporation Common Shares Geheran, Tony 5 09/02/2018 30 1,736 18

February 22, 2018 (2018), 41 OSCB 1583

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed TELUS Corporation Common Shares Gratton, Francois 5 09/02/2018 30 32,794 214 TELUS Corporation Common Shares Gratton, Francois 5 09/02/2018 30 32,877 83 TELUS Corporation Common Shares Gratton, Francois 5 09/02/2018 30 33,140 263 TELUS Corporation Common Shares Gratton, Francois 5 09/02/2018 10 44.52 33,720 580 TELUS Corporation Restricted Share Units Gratton, Francois 5 09/02/2018 30 47.56 86,109 -1,194 TELUS Corporation Common Shares McIntosh, Sandy 5 09/02/2018 30 19,124 188 TELUS Corporation Common Shares McIntosh, Sandy 5 09/02/2018 30 19,192 68 TELUS Corporation Common Shares McIntosh, Sandy 5 09/02/2018 30 19,327 135 TELUS Corporation Common Shares McIntosh, Sandy 5 09/02/2018 10 44.52 19,873 546 TELUS Corporation Restricted Share Units McIntosh, Sandy 5 09/02/2018 30 47.56 90,619 -1,132 TELUS Corporation Common Shares Mercier, Monique 5 09/02/2018 30 40,223 235 TELUS Corporation Common Shares Mercier, Monique 5 09/02/2018 30 40,376 153 TELUS Corporation Common Shares Mercier, Monique 5 09/02/2018 30 40,647 271 TELUS Corporation Common Shares Mercier, Monique 5 09/02/2018 10 44.52 41,496 849 TELUS Corporation Restricted Share Units Mercier, Monique 5 09/02/2018 30 47.56 74,298 -1,596 THC BIOMED INTL LTD. Warrants Miller, John 3, 4 08/02/2018 53 1,811,726 250,668 The North West Company Deferred Share Units Coleman, Frank Joseph 4 31/01/2018 56 29.14 28,824 733 Inc. The North West Company Deferred Share Units Evans, Frances Wendy 4 31/01/2018 56 29.14 32,435 437 Inc. The North West Company Deferred Share Units Glendinning, Stewart 4 31/01/2018 56 29.14 12,470 704 Inc. The North West Company Deferred Share Units Kennedy, Robert 4 31/01/2018 56 29.14 43,550 474 Inc. The North West Company Deferred Share Units King, Anna Lisa 4 31/01/2018 56 29.14 4,892 53 Inc. The North West Company Variable Voting and King, Anna Lisa 4 31/12/2015 30 27.034 44 44 Inc. Common Voting Shares The North West Company Variable Voting and King, Anna Lisa 4 31/12/2016 30 27.877 192 148 Inc. Common Voting Shares The North West Company Variable Voting and King, Anna Lisa 4 31/12/2017 30 30.122 4,892 200 Inc. Common Voting Shares The North West Company Variable Voting and King, Anna Lisa 4 15/01/2018 30 28.603 4,946 54 Inc. Common Voting Shares The North West Company Deferred Share Units Konkle, Violet 4 31/01/2018 56 29.14 12,097 467 Inc. The North West Company Deferred Share Units Merasty, Gary 4 31/01/2018 56 29.14 21,068 559 Inc. The North West Company Deferred Share Units Riley, Sanford 4 31/01/2018 56 29.14 76,506 1,916 Inc. The North West Company Deferred Share Units Stefanson, Eric 4 31/01/2018 56 29.14 13,807 275 Inc. The North West Company Deferred Share Units Tootoo, Victor 4 31/01/2018 56 29.14 5,024 56 Inc. The Western Investment Common Shares Tannas, Scott 4, 7, 5 14/02/2018 10 0.45 5,000 Company of Canada Limited The Western Investment Common Shares Tannas, Scott 4, 7, 5 14/02/2018 10 0.45 611,808 5,000 Company of Canada Limited The Western Investment Common Shares Tannas, Scott 4, 7, 5 14/02/2018 10 0.4 612,808 1,000 Company of Canada Limited Therma Bright Inc. Common Shares Heng, Joseph, Ching-Hiang 4 18/05/2016 00 Therma Bright Inc. Common Shares Heng, Joseph, Ching-Hiang 4 16/02/2018 46 0.1 200,000 200,000 ThreeD Capital Inc.(formerly Common Shares Inwentash, Sheldon 4, 6, 5 13/02/2018 10 0.255 4,700,000 -1,500,000 Brownstone Energy Inc.) ThreeD Capital Inc.(formerly Common Shares LONE, ALLEN 4 09/02/2018 51 0.15 203,666 166,666 Brownstone Energy Inc.) ThreeD Capital Inc.(formerly Options LONE, ALLEN 4 09/02/2018 51 0.15 83,334 -166,666 Brownstone Energy Inc.) ThreeD Capital Inc.(formerly Options LONE, ALLEN 4 09/02/2018 51 0.15 166,666 Brownstone Energy Inc.) ThreeD Capital Inc.(formerly Options LONE, ALLEN 4 09/02/2018 51 0.15 166,666 Brownstone Energy Inc.) Tier One Capital Limited Limited Partnership Units BEST Capital Administration 5 13/02/2018 30 4.85 536,507 13,283 Partnership Inc

February 22, 2018 (2018), 41 OSCB 1584

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed TMAC Resources Inc. Common Shares Neal, Jason Robert 5 15/02/2018 00 10,000 TMAC Resources Inc. Options Neal, Jason Robert 5 15/02/2018 00 135,167 TMAC Resources Inc. Rights Neal, Jason Robert 5 15/02/2018 00 204,502 TMX Group Limited Common Shares Hukezalie, Mary Lou 5 14/02/2018 51 41.74 6,814 TMX Group Limited Common Shares Hukezalie, Mary Lou 5 14/02/2018 51 41.74 6,814 TMX Group Limited Common Shares Hukezalie, Mary Lou 5 14/02/2018 51 41.74 8,164 6,814 TMX Group Limited Common Shares Hukezalie, Mary Lou 5 14/02/2018 10 75 1,350 -6,814 TMX Group Limited Options Hukezalie, Mary Lou 5 14/02/2018 51 75 -6,814 TMX Group Limited Options Hukezalie, Mary Lou 5 14/02/2018 51 75 -6,814 TMX Group Limited Options Hukezalie, Mary Lou 5 14/02/2018 51 41.74 78,637 -6,814 TMX Group Limited Rights Restricted Share Rajarathinam, Jayakumar 5 15/02/2018 59 72.43 5,064 -7,048 Units Toachi Mining Inc. Common Shares Curtis, Laurence Wilson 3, 4 09/02/2018 10 0.16 1,692,575 136,500 Toachi Mining Inc. Common Shares Nixon, Peter 4 09/02/2018 10 0.15 259,000 9,000 Toachi Mining Inc. Common Shares Scherkus, Ebe 4 14/02/2018 10 0.165 440,000 40,000 Toachi Mining Inc. Common Shares Scherkus, Ebe 4 15/02/2018 10 0.1686 600,000 160,000 Torq Resources Inc. Common Shares Bebek, Ivan 4 16/02/2018 10 0.56 5,167,400 20,000 Torq Resources Inc. Common Shares Kosowan, Michael 4, 5 12/02/2018 10 0.48 5,801,000 44,000 Total Energy Services Inc. Common Shares Crawford, W. Gerry 5 31/12/2017 30 13.77 43,100 1,259 Total Energy Services Inc. Common Shares Kosich, William John 5 31/12/2017 30 13.78 24,109 887 George Touchstone Exploration Inc. Common Shares North Energy Capital AS 3 01/02/2018 10 0.25 14,459,250 -105,000 Trek Mining Inc. (formerly Common Shares Pacific Road Resources 3 31/03/2017 16 20,899,263 JDL Gold Corp.) Fund II L.P. Trek Mining Inc. (formerly Common Shares Pacific Road Resources 3 31/03/2017 16 20,899,262 20,899,262 JDL Gold Corp.) Fund II L.P. Trenchant Capital Corp. Convertible Debentures Boehnke, Eric 4 26/05/2014 00 Trenchant Capital Corp. Convertible Debentures Boehnke, Eric 4 13/02/2018 10 0.95 $1,000 $1,000 Triumph Gold Corp. Common Shares Palisade Global 3 09/02/2018 10 0.28 10,197,333 50,000 Investments Ltd. Triumph Gold Corp. Common Shares Palisade Global 3 14/02/2018 10 0.35 10,229,333 32,000 Investments Ltd. Triumph Gold Corp. Common Shares Palisade Global 3 14/02/2018 10 0.3379 10,269,333 40,000 Investments Ltd. Triumph Gold Corp. Common Shares Palisade Global 3 14/02/2018 10 0.33 10,309,333 40,000 Investments Ltd. Triumph Gold Corp. Common Shares Palisade Global 3 15/02/2018 10 0.35 10,317,333 8,000 Investments Ltd. True Leaf Medicine Options Bomford, Darcy E 3, 4, 5 06/02/2018 50 828,575 200,000 International Ltd. True Leaf Medicine Options Bottomley, Kevin 4 06/02/2018 50 500,000 200,000 International Ltd. True Leaf Medicine Options Spooner, Christopher 4 06/02/2018 50 500,000 200,000 International Ltd. True North Commercial Real Trust Units Allison, Margaret Ann 5 29/12/2017 30 6.1125 984 84 Estate Investment Trust True North Commercial Real Trust Units Cardy, Roland 4 29/12/2017 30 6.1125 27,016 24 Estate Investment Trust True North Commercial Real Trust Units Drimmer, Daniel 3, 4 29/12/2017 30 6.1125 3,616,915 153,115 Estate Investment Trust True North Commercial Real Trust Units Drimmer, Daniel 3, 4 29/12/2017 30 6.1125 3,662,115 45,200 Estate Investment Trust True North Commercial Real Trust Units Drimmer, Daniel 3, 4 29/12/2017 30 6.1125 90,101 6,722 Estate Investment Trust True North Commercial Real Trust Units Drimmer, Daniel 3, 4 29/12/2017 30 6.1125 107,584 17,483 Estate Investment Trust True North Commercial Real Trust Units Ossip, Alon Samuel 4 29/12/2017 30 6.1125 276,500 40,561 Estate Investment Trust True North Commercial Real Trust Units Poklar, Sandy Ivan 4 29/12/2017 30 6.1125 2,579 57 Estate Investment Trust True North Commercial Real Trust Units Poklar, Sandy Ivan 4 29/12/2017 30 6.1125 18,198 954 Estate Investment Trust True North Commercial Real Trust Units Sherren, Tracy 5 29/12/2017 30 6.1125 11,052 1,020 Estate Investment Trust

February 22, 2018 (2018), 41 OSCB 1585

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Ucore Rare Metals Inc. Options Schrider, Michael 5 02/02/2018 00 550,000 UEX Corporation Common Shares Thomas, Laurie Margaret 5 02/01/2018 00 UEX Corporation Common Shares Thomas, Laurie Margaret 5 12/02/2018 10 0.25 10,000 10,000 Unigold Inc. Common Shares Tremblay, Norman 3, 4 13/02/2018 10 0.2 9,274,994 42,500 Uniserve Communications Common Shares Beaudin, Earnest Charles 4 16/02/2018 10 0.32 1,124,400 10,000 Corporation Uniserve Communications Common Shares Mitha, Hashim 4 12/02/2018 10 0.365 433,300 10,000 Corporation Uniserve Communications Common Shares Mitha, Hashim 4 14/02/2018 10 0.35 438,300 5,000 Corporation Uniserve Communications Common Shares Scholz, Michael Curt 4 13/02/2018 10 0.305 1,805,114 46,000 Corporation United Corporations Limited Common Shares E-L Financial Corporation 3 09/02/2018 10 98.4 6,337,559 900 Limited United Corporations Limited Common Shares E-L Financial Corporation 3 14/02/2018 10 99.91 6,337,659 100 Limited UpSnap, Inc. Common Shares UFPB VoodooVox LLC 3 07/02/2018 16 0.01 132,593,751 690,000 US Cobalt Inc. Options Chin, Kelsey 5 12/02/2018 50 0.71 475,000 150,000 US Cobalt Inc. Options Clark, James Garnet (Garry) 4 12/02/2018 50 0.71 1,050,000 400,000 US Cobalt Inc. Options Gahagan, Michelle 4, 5 12/02/2018 50 0.71 1,050,000 400,000 US Cobalt Inc. Options Kirwin, Brian 4, 5 12/02/2018 50 0.71 1,100,000 450,000 US Cobalt Inc. Options Tisdale, Wayne 4 12/02/2018 50 0.71 1,050,000 400,000 Valener Inc. Common Shares Bell, Mary-Ann 4 18/01/2017 35 20.59 4,471 59 Valener Inc. Common Shares Bell, Mary-Ann 4 20/04/2017 35 21.49 7,568 97 Valener Inc. Common Shares Bell, Mary-Ann 4 24/07/2017 35 21.47 7,666 98 Valener Inc. Common Shares Bell, Mary-Ann 4 20/10/2017 35 21.79 7,767 101 Valener Inc. Common Shares Forget, Nicolle 4 16/01/2017 35 20.59 3,750 50 Valener Inc. Common Shares Forget, Nicolle 4 16/01/2017 35 20.59 10,188 109 Valener Inc. Common Shares Forget, Nicolle 4 16/01/2017 35 20.59 10,215 27 Valener Inc. Common Shares Forget, Nicolle 4 16/01/2017 35 20.59 10,324 109 Valener Inc. Common Shares Forget, Nicolle 4 16/01/2017 35 20.59 10,351 27 Valener Inc. Common Shares Gravel, Jean-Luc 7 16/01/2017 35 20.59 1,818 24 Valener Inc. Common Shares Gravel, Jean-Luc 7 17/04/2017 35 21.49 1,841 23 Valener Inc. Common Shares Gravel, Jean-Luc 7 17/07/2017 35 21.47 1,865 24 Valener Inc. Common Shares Gravel, Jean-Luc 7 16/10/2017 35 21.79 1,889 24 Valener Inc. Common Shares Klees, Gwen 4 17/04/2017 35 21.49 3,039 39 Valener Inc. Common Shares Klees, Gwen 4 17/07/2017 35 21.47 3,078 39 Valener Inc. Common Shares Klees, Gwen 4 16/10/2017 35 21.79 3,118 40 Valener Inc. Common Shares Klees, Gwen 4 15/02/2018 10 20.155 4,498 1,380 Valener Inc. Common Shares Monahan, Pierre 4 16/01/2017 35 20.59 5,272 70 Valener Inc. Common Shares Monahan, Pierre 4 17/04/2017 35 21.49 5,340 68 Valener Inc. Common Shares Monahan, Pierre 4 17/07/2017 35 21.47 5,409 69 Valener Inc. Common Shares Monahan, Pierre 4 16/10/2017 35 21.79 7,000 91 Valener Inc. Common Shares Monahan, Pierre 4 15/02/2018 10 20.157 10,000 3,000 Valener Inc. Common Shares Santerre, Stéphane 7 01/01/2017 00 Valener Inc. Common Shares Santerre, Stéphane 7 16/01/2017 35 20.59 32 32 Valener Inc. Common Shares Santerre, Stéphane 7 17/04/2017 35 21.49 63 31 Valener Inc. Common Shares Santerre, Stéphane 7 17/07/2017 35 21.47 94 31 Valener Inc. Common Shares Santerre, Stéphane 7 16/10/2017 35 21.79 126 32 Valens Groworks Corp. Common Shares Gervais, David 4 14/02/2018 10 2.6 5,562,785 -10,000 (formerly Genovation Capital Corp.) VersaBank Common Shares 340268 Ontario Limited 3 12/02/2018 11 7.23 1,225,708 83,200 VersaBank Common Shares George, Patrick 6 12/02/2018 11 7.23 0 -83,200 VersaBank Preferred Shares Series 1 Hillier, Arnold Edward 4 09/02/2018 10 10.2 3,100 200 VersaBank Preferred Shares Series 1 Hillier, Arnold Edward 4 12/02/2018 10 10.22 5,700 2,600 VersaBank Preferred Shares Series 1 Hillier, Arnold Edward 4 13/02/2018 10 10.22 6,500 800 VIQ Solutions Inc. Options Gordon, Harvey 4 04/02/2018 50 679,987 125,000 VIQ Solutions Inc. Options Quarin, Joseph 4 14/02/2018 50 0.3 625,000 125,000 VIQ Solutions Inc. Options Taylor, Larry Douglas 4 14/02/2018 50 1,179,987 125,000

February 22, 2018 (2018), 41 OSCB 1586

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Visible Gold Mines Inc. Options Bellefleur, Sébastien 4 13/02/2018 50 187,500 50,000 Visible Gold Mines Inc. Options Champagne, Sylvain 4, 5 13/02/2018 50 375,000 100,000 Visible Gold Mines Inc. Options Dallaire, Martin 4, 5 13/02/2018 50 685,000 200,000 Visible Gold Mines Inc. Options Vézina, Pierre 4 13/02/2018 50 187,500 50,000 Waste Connections, Inc. Common Shares Black, Matthew Stephen 5 11/02/2017 97 80.03 -334 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Black, Matthew Stephen 5 11/02/2017 97 80.03 12,208 -331 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Black, Matthew Stephen 5 12/02/2017 97 80.03 -413 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Black, Matthew Stephen 5 12/02/2017 97 80.03 13,121 -350 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Black, Matthew Stephen 5 19/06/2017 37 7,485 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Black, Matthew Stephen 5 19/06/2017 37 22,554 7,518 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Black, Matthew Stephen 5 11/02/2018 57 24,369 1,815 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Black, Matthew Stephen 5 11/02/2018 97 66.76 23,855 -514 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Black, Matthew Stephen 5 12/02/2018 57 25,748 1,893 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Black, Matthew Stephen 5 12/02/2018 97 67.85 25,292 -456 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Black, Matthew Stephen 5 13/02/2018 57 27,149 1,857 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Black, Matthew Stephen 5 13/02/2018 97 68.49 26,696 -453 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Black, Matthew Stephen 5 01/02/2017 00 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Black, Matthew Stephen 5 01/02/2017 00 8,626 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Black, Matthew Stephen 5 11/02/2017 57 7,417 -1,209 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Black, Matthew Stephen 5 12/02/2017 57 6,154 -1,263 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Black, Matthew Stephen 5 24/02/2017 56 1,733 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Black, Matthew Stephen 5 24/02/2017 56 11,105 4,951 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Black, Matthew Stephen 5 19/06/2017 37 866 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Black, Matthew Stephen 5 19/06/2017 37 16,658 5,553 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Black, Matthew Stephen 5 11/02/2018 57 14,843 -1,815 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Black, Matthew Stephen 5 12/02/2018 57 12,950 -1,893 (formerly Progressive Waste Solutions Ltd.)

February 22, 2018 (2018), 41 OSCB 1587

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Waste Connections, Inc. Restricted Share Units Black, Matthew Stephen 5 01/02/2017 00 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Black, Matthew Stephen 5 01/02/2017 00 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Black, Matthew Stephen 5 01/02/2017 00 3,979 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Black, Matthew Stephen 5 11/02/2017 57 -1,209 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Black, Matthew Stephen 5 11/02/2017 57 -1,209 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Black, Matthew Stephen 5 12/02/2017 57 -1,263 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Black, Matthew Stephen 5 12/02/2017 57 -1,263 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Black, Matthew Stephen 5 24/02/2017 56 3,218 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Black, Matthew Stephen 5 24/02/2017 56 3,218 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Black, Matthew Stephen 5 19/06/2017 37 5,305 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Black, Matthew Stephen 5 19/06/2017 37 1,858 620 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Black, Matthew Stephen 5 13/02/2018 57 1 -1,857 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Bouck, Steven F. 5 11/02/2018 57 294,199 6,192 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Bouck, Steven F. 5 11/02/2018 97 66.76 291,730 -2,469 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Bouck, Steven F. 5 12/02/2018 57 299,756 8,026 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Bouck, Steven F. 5 12/02/2018 97 67.85 296,597 -3,159 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Bouck, Steven F. 5 13/02/2018 57 304,818 8,221 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Bouck, Steven F. 5 13/02/2018 97 68.49 301,583 -3,235 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Bouck, Steven F. 5 11/02/2018 57 48,031 -6,192 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Bouck, Steven F. 5 12/02/2018 57 40,005 -8,026 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Bouck, Steven F. 5 13/02/2018 57 0 -8,221 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Chambliss, Darrell W. 5 11/02/2018 57 110,171 4,545 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Chambliss, Darrell W. 5 11/02/2018 97 66.76 108,335 -1,836 (formerly Progressive Waste Solutions Ltd.)

February 22, 2018 (2018), 41 OSCB 1588

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Waste Connections, Inc. Common Shares Chambliss, Darrell W. 5 12/02/2018 57 114,366 6,031 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Chambliss, Darrell W. 5 12/02/2018 97 67.85 111,992 -2,374 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Chambliss, Darrell W. 5 13/02/2018 57 118,023 6,031 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Chambliss, Darrell W. 5 13/02/2018 97 68.49 115,650 -2,373 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Chambliss, Darrell W. 5 11/02/2018 57 36,007 -4,545 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Chambliss, Darrell W. 5 12/02/2018 57 29,976 -6,031 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Chambliss, Darrell W. 5 19/06/2017 37 38,854 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Chambliss, Darrell W. 5 19/06/2017 37 14,539 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Chambliss, Darrell W. 5 19/06/2017 37 43,618 14,539 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Chambliss, Darrell W. 5 13/02/2018 57 37,587 -6,031 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Eddie, David G 5 11/02/2018 57 58,251 2,865 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Eddie, David G 5 11/02/2018 97 66.76 57,065 -1,186 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Eddie, David G 5 12/02/2018 57 60,720 3,655 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Eddie, David G 5 12/02/2018 97 67.85 59,281 -1,439 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Eddie, David G 5 13/02/2018 57 62,869 3,588 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Eddie, David G 5 13/02/2018 97 68.49 61,457 -1,412 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Eddie, David G 5 11/02/2018 57 22,524 -2,865 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Eddie, David G 5 12/02/2018 57 18,869 -3,655 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Eddie, David G 5 13/02/2018 57 0 -3,588 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Hall, David M 5 11/02/2018 57 11,184 2,406 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Hall, David M 5 11/02/2018 97 66.76 10,534 -650 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Hall, David M 5 12/02/2018 57 13,706 3,172 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Hall, David M 5 12/02/2018 97 67.85 12,109 -1,597 (formerly Progressive Waste Solutions Ltd.)

February 22, 2018 (2018), 41 OSCB 1589

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Waste Connections, Inc. Common Shares Hall, David M 5 13/02/2018 57 15,358 3,249 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Hall, David M 5 13/02/2018 97 68.49 13,946 -1,412 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Hall, David M 5 11/02/2018 57 19,058 -2,406 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Hall, David M 5 12/02/2018 57 15,886 -3,172 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Hall, David M 5 13/02/2018 57 1 -3,249 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Jackman, Worthing F. 5 01/06/2016 00 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Jackman, Worthing F. 5 01/06/2016 00 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Jackman, Worthing F. 5 01/06/2016 00 67,564 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Jackman, Worthing F. 5 12/02/2017 97 80.03 -1,913 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Jackman, Worthing F. 5 12/02/2017 97 80.03 68,840 -1,850 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Jackman, Worthing F. 5 25/02/2017 57 5,674 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Jackman, Worthing F. 5 25/02/2017 57 5,674 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Jackman, Worthing F. 5 25/02/2017 97 87.33 -114 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Jackman, Worthing F. 5 25/02/2017 97 87.33 -114 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Jackman, Worthing F. 5 27/03/2017 10 86.35 -8,918 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Jackman, Worthing F. 5 27/03/2017 57 84,532 13,197 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Jackman, Worthing F. 5 19/06/2017 37 25,648 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Jackman, Worthing F. 5 19/06/2017 37 126,798 42,266 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Jackman, Worthing F. 5 11/02/2018 57 102,140 5,342 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Jackman, Worthing F. 5 11/02/2018 97 66.76 99,998 -2,142 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Jackman, Worthing F. 5 12/02/2018 57 106,611 6,613 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Jackman, Worthing F. 5 12/02/2018 97 67.85 104,008 -2,603 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Jackman, Worthing F. 5 13/02/2018 57 110,618 6,610 (formerly Progressive Waste Solutions Ltd.)

February 22, 2018 (2018), 41 OSCB 1590

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Waste Connections, Inc. Common Shares Jackman, Worthing F. 5 13/02/2018 97 68.49 108,016 -2,602 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Jackman, Worthing F. 5 01/06/2016 00 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Jackman, Worthing F. 5 01/06/2016 00 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Jackman, Worthing F. 5 01/06/2016 00 27,471 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Jackman, Worthing F. 5 11/02/2017 57 23,910 -3,561 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Jackman, Worthing F. 5 12/02/2017 57 19,501 -4,409 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Jackman, Worthing F. 5 24/02/2017 56 3,982 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Jackman, Worthing F. 5 24/02/2017 56 30,879 11,378 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Jackman, Worthing F. 5 19/06/2017 37 1,991 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Jackman, Worthing F. 5 19/06/2017 37 46,318 15,439 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Jackman, Worthing F. 5 11/02/2018 57 40,976 -5,342 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Jackman, Worthing F. 5 12/02/2018 57 34,363 -6,613 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Jackman, Worthing F. 5 01/06/2016 00 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Jackman, Worthing F. 5 01/06/2016 00 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Jackman, Worthing F. 5 01/06/2016 00 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Jackman, Worthing F. 5 01/06/2016 00 31,106 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Jackman, Worthing F. 5 11/02/2017 57 -3,561 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Jackman, Worthing F. 5 11/02/2017 57 -3,561 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Jackman, Worthing F. 5 12/02/2017 57 -4,409 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Jackman, Worthing F. 5 12/02/2017 57 -4,409 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Jackman, Worthing F. 5 24/02/2017 56 7,396 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Jackman, Worthing F. 5 24/02/2017 56 7,396 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Jackman, Worthing F. 5 25/02/2017 57 -5,674 (formerly Progressive Waste Solutions Ltd.)

February 22, 2018 (2018), 41 OSCB 1591

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Waste Connections, Inc. Restricted Share Units Jackman, Worthing F. 5 25/02/2017 97 26,522 -177 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Jackman, Worthing F. 5 27/03/2017 57 4,407 -22,115 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Jackman, Worthing F. 5 19/06/2017 37 32,270 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Jackman, Worthing F. 5 19/06/2017 37 6,610 2,203 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Jackman, Worthing F. 5 13/02/2018 57 0 -6,610 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Little, James M. 5 01/06/2016 00 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Little, James M. 5 01/06/2016 00 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Little, James M. 5 01/06/2016 00 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Little, James M. 5 01/06/2016 00 16,899 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Little, James M. 5 12/02/2017 97 80.03 -781 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Little, James M. 5 12/02/2017 97 80.03 15,321 -714 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Little, James M. 5 25/02/2017 97 87.33 -896 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Little, James M. 5 25/02/2017 97 87.33 -829 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Little, James M. 5 25/02/2017 97 87.33 19,426 -896 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Little, James M. 5 19/06/2017 37 11,239 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Little, James M. 5 19/06/2017 37 24,477 8,159 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Little, James M. 5 11/02/2018 57 24,630 3,153 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Little, James M. 5 11/02/2018 97 66.76 23,806 -824 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Little, James M. 5 12/02/2018 57 27,719 3,913 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Little, James M. 5 12/02/2018 97 67.85 26,766 -953 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Little, James M. 5 13/02/2018 97 3,927 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Little, James M. 5 13/02/2018 57 30,693 3,927 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Little, James M. 5 13/02/2018 97 68.49 29,736 -957 (formerly Progressive Waste Solutions Ltd.)

February 22, 2018 (2018), 41 OSCB 1592

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Waste Connections, Inc. Performance Share Units Little, James M. 5 01/06/2016 00 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Little, James M. 5 01/06/2016 00 16,235 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Little, James M. 5 11/02/2017 57 14,133 -2,102 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Little, James M. 5 12/02/2017 57 11,524 -2,609 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Little, James M. 5 24/02/2017 56 2,304 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Little, James M. 5 24/02/2017 56 18,108 6,584 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Little, James M. 5 19/06/2017 37 1,152 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Little, James M. 5 19/06/2017 37 27,162 9,054 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Little, James M. 5 11/02/2018 57 24,009 -3,153 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Little, James M. 5 12/02/2018 57 20,096 -3,913 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Little, James M. 5 01/06/2016 00 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Little, James M. 5 01/06/2016 00 8,402 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Little, James M. 5 11/02/2017 57 -2,102 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Little, James M. 5 11/02/2017 57 -2,102 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Little, James M. 5 12/02/2017 57 -2,609 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Little, James M. 5 12/02/2017 57 -2,609 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Little, James M. 5 24/02/2017 56 4,280 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Little, James M. 5 24/02/2017 56 4,280 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Little, James M. 5 19/06/2017 37 9,211 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Little, James M. 5 19/06/2017 37 3,927 1,309 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Little, James M. 5 13/02/2018 57 0 -3,927 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Mittelstaedt, Ronald J 4, 5 01/06/2016 00 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Mittelstaedt, Ronald J 4, 5 01/06/2016 00 (formerly Progressive Waste Solutions Ltd.)

February 22, 2018 (2018), 41 OSCB 1593

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Waste Connections, Inc. Common Shares Mittelstaedt, Ronald J 4, 5 01/06/2016 00 61,562 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Mittelstaedt, Ronald J 4, 5 19/06/2017 37 66,902 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Mittelstaedt, Ronald J 4, 5 19/06/2017 37 61,421 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Mittelstaedt, Ronald J 4, 5 19/06/2017 37 123,484 41,161 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Mittelstaedt, Ronald J 4, 5 11/02/2018 57 124,167 13,183 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Mittelstaedt, Ronald J 4, 5 11/02/2018 97 66.76 120,953 -3,214 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Mittelstaedt, Ronald J 4, 5 12/02/2018 57 -16,672 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Mittelstaedt, Ronald J 4, 5 12/02/2018 57 -16,672 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Mittelstaedt, Ronald J 4, 5 12/02/2018 57 137,625 16,672 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Mittelstaedt, Ronald J 4, 5 12/02/2018 97 67.85 131,329 -6,296 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Mittelstaedt, Ronald J 4, 5 13/02/2018 57 148,411 17,082 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Mittelstaedt, Ronald J 4, 5 13/02/2018 97 68.49 141,689 -6,722 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Mittelstaedt, Ronald J 4, 5 11/02/2018 57 97,992 -13,183 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Mittelstaedt, Ronald J 4, 5 12/02/2018 57 81,320 -16,672 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Mittelstaedt, Ronald J 4, 5 13/02/2018 57 180,528 -17,082 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Shea, Patrick J 5 11/02/2018 57 36,408 3,056 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Shea, Patrick J 5 11/02/2018 97 66.76 35,608 -800 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Shea, Patrick J 5 12/02/2018 57 39,533 3,925 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Shea, Patrick J 5 12/02/2018 97 67.85 38,577 -956 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Shea, Patrick J 5 13/02/2018 57 41,619 3,042 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Shea, Patrick J 5 13/02/2018 97 68.49 40,878 -741 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Shea, Patrick J 5 11/02/2018 57 23,965 -3,056 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Shea, Patrick J 5 12/02/2018 57 20,040 -3,925 (formerly Progressive Waste Solutions Ltd.)

February 22, 2018 (2018), 41 OSCB 1594

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Waste Connections, Inc. Restricted Share Units Shea, Patrick J 5 13/02/2018 57 0 -3,042 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Whitney, Mary Anne 5 11/02/2018 57 33,037 1,795 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Whitney, Mary Anne 5 11/02/2018 97 66.76 32,257 -780 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Whitney, Mary Anne 5 12/02/2018 57 34,495 2,238 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Whitney, Mary Anne 5 12/02/2018 97 67.85 33,620 -875 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Whitney, Mary Anne 5 13/02/2018 57 35,655 2,035 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Common Shares Whitney, Mary Anne 5 13/02/2018 97 68.49 34,854 -801 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Whitney, Mary Anne 5 11/02/2018 57 13,598 -1,795 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Performance Share Units Whitney, Mary Anne 5 12/02/2018 57 11,360 -2,238 (formerly Progressive Waste Solutions Ltd.) Waste Connections, Inc. Restricted Share Units Whitney, Mary Anne 5 13/02/2018 57 1 -2,035 (formerly Progressive Waste Solutions Ltd.) Wellness Lifestyles Inc. Common Shares Shahbazi, Hamed 4 09/02/2018 10 0.3 5,545,298 2,049,667 West Fraser Timber Co. Ltd. Common Shares West Fraser Timber Co. Ltd. 1 09/02/2018 38 79.836 30,000 30,000 West Fraser Timber Co. Ltd. Common Shares West Fraser Timber Co. Ltd. 1 16/02/2018 38 0 -30,000 Western Copper and Gold Common Shares Francois, Julien 5 08/02/2018 16 1.15 257,000 20,000 Corporation Western Copper and Gold Warrants Francois, Julien 5 03/05/2006 00 Corporation Western Copper and Gold Warrants Francois, Julien 5 08/02/2018 16 1.75 10,000 10,000 Corporation Western Copper and Gold Common Shares Gayton, Robert 4 08/02/2018 11 1.15 15,000 Corporation Western Copper and Gold Common Shares Gayton, Robert 4 08/02/2018 11 1.15 15,000 Corporation Western Copper and Gold Common Shares Gayton, Robert 4 08/02/2018 53 1.75 7,500 Corporation Western Copper and Gold Common Shares Gayton, Robert 4 08/02/2018 53 1.75 7,500 Corporation Western Copper and Gold Common Shares Gayton, Robert 4 08/02/2018 16 1.15 170,400 15,000 Corporation Western Copper and Gold Warrants Gayton, Robert 4 04/05/2006 00 Corporation Western Copper and Gold Warrants Gayton, Robert 4 08/02/2018 16 1.75 7,500 7,500 Corporation Western Copper and Gold Common Shares West-Sells, Paul George 5 08/02/2018 16 1.15 390,000 13,000 Corporation Western Copper and Gold Warrants West-Sells, Paul George 5 24/11/2008 00 Corporation Western Copper and Gold Warrants West-Sells, Paul George 5 08/02/2018 16 1.75 6,500 6,500 Corporation Western Energy Services Common Shares MacAusland, Alexander 4, 5 31/12/2017 30 141,059 32,062 Corp. Roland Neil Western Uranium Common Shares Fryer, Russell 3, 4 15/02/2018 10 0.6 2,567,429 -20,000 Corporation Western Uranium Common Shares Fryer, Russell 3, 4 16/02/2018 10 0.62 2,551,429 -16,000 Corporation Western Uranium Options Employee Murphy, Bryan James 4 31/01/2018 00 Corporation

February 22, 2018 (2018), 41 OSCB 1595

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Western Uranium Options Employee Murphy, Bryan James 4 09/02/2018 50 1 100,000 100,000 Corporation Westshore Terminals Common Shares Pattison, James A. 3 14/02/2018 10 24.2 9,622,900 172,500 Investment Corporation Westshore Terminals Common Shares Pattison, James A. 3 16/02/2018 10 24.655 9,672,900 50,000 Investment Corporation White Metal Resources Corp. Options Colin, Jean-Pierre 4 08/02/2018 00 White Metal Resources Corp. Options Colin, Jean-Pierre 4 08/02/2018 50 175,000 175,000 Whitecap Resources Inc. Common Shares Nikiforuk, Stephen Curtis 4 12/02/2018 90 8.15 5,952 168 Whitecap Resources Inc. Common Shares Nikiforuk, Stephen Curtis 4 14/02/2018 90 7.75 7,528 258 Whitecap Resources Inc. Common Shares Nikiforuk, Stephen Curtis 4 12/02/2018 90 8.15 70,930 -168 Whitecap Resources Inc. Common Shares Nikiforuk, Stephen Curtis 4 14/02/2018 90 7.75 70,672 -258 World Mahjong Limited Common Shares Chen, Jason Hsin How 4 22/11/2017 37 262,818 -87,624 (formerly Croydon Mercantile Corp.) World Mahjong Limited Common Shares Chen, Jason Hsin How 4 15/02/2018 11 12,818 -250,000 (formerly Croydon Mercantile Corp.) World Mahjong Limited Common Shares Chen, Jason Hsin How 4 22/11/2017 37 2,298,376 -766,278 (formerly Croydon Mercantile Corp.) World Mahjong Limited Common Shares Chen, Jason Hsin How 4 15/02/2018 11 5,009 -2,293,367 (formerly Croydon Mercantile Corp.) World Mahjong Limited Common Shares CYNOSURE PRIVATE 3 22/11/2017 37 3,708,906 -1,236,550 (formerly Croydon Mercantile EQUITY LIMITED Corp.) World Mahjong Limited Common Shares CYNOSURE PRIVATE 3 15/02/2018 11 0 -3,708,906 (formerly Croydon Mercantile EQUITY LIMITED Corp.) World Mahjong Limited Common Shares Placzek, Dan 5 22/11/2017 37 360,463 -120,178 (formerly Croydon Mercantile Corp.) World Mahjong Limited Common Shares Placzek, Dan 5 15/02/2018 11 280,683 -79,780 (formerly Croydon Mercantile Corp.) World Mahjong Limited Common Shares Placzek, Dan 5 22/11/2017 37 749,963 -250,037 (formerly Croydon Mercantile Corp.) World Mahjong Limited Common Shares Placzek, Dan 5 15/02/2018 11 0 -749,963 (formerly Croydon Mercantile Corp.) Xenon Pharmaceuticals Inc. Common Shares Cohen, Charles Jay 5 05/11/2014 00 Xenon Pharmaceuticals Inc. Common Shares Cohen, Charles Jay 5 12/02/2018 51 3.74 4,079 4,079 Xenon Pharmaceuticals Inc. Options Cohen, Charles Jay 5 12/02/2018 38 129,109 -22,669 Xenon Pharmaceuticals Inc. Options Cohen, Charles Jay 5 12/02/2018 51 125,030 -4,079 Xtierra Inc. Common Shares Buchans Resources Limited 3 30/08/2017 00 30,000,003 Xtierra Inc. Warrants Buchans Resources Limited 3 30/08/2017 00 Xtierra Inc. Warrants Buchans Resources Limited 3 13/02/2018 97 13,000,000 13,000,000 Xtierra Inc. Common Shares Gallagher, Timothy David 3, 4, 5 13/02/2018 11 0.02 2,770,000 2,750,000 Xtierra Inc. Common Shares Gallagher, Timothy David 3, 4, 5 13/02/2018 11 0.02 9,511,487 9,500,000 Xtierra Inc. Common Shares Kearney, John Francis 4, 5 03/09/2008 00 Xtierra Inc. Common Shares Kearney, John Francis 4, 5 13/02/2018 16 0.02 10,000,000 10,000,000 Xtierra Inc. Common Shares Minco plc 3 30/08/2017 97 0 -30,000,003 Xtierra Inc. Common Shares Pacific Road Resources 3 13/02/2018 16 0.05 10,353,191 10,353,191 Fund L.P. Xtierra Inc. Common Shares Pacific Road Resources 3 13/02/2018 11 0.02 2,378,184 -7,975,007 Fund L.P. Xtierra Inc. Common Shares Pacific Road Resources 3 13/02/2018 16 0.05 40,280,270 4,426,806 Fund L.P. Xtierra Inc. Common Shares Pacific Road Resources 3 13/02/2018 11 0.02 8,184,997 -32,095,273 Fund L.P. Xtra-Gold Resources Corp. Common Shares Xtra-Gold Resources Corp. 1 09/02/2018 38 0.23 60,000 60,000 Xtra-Gold Resources Corp. Common Shares Xtra-Gold Resources Corp. 1 09/02/2018 38 0 -60,000 Xtra-Gold Resources Corp. Common Shares Xtra-Gold Resources Corp. 1 15/02/2018 38 0.225 5,000 5,000

February 22, 2018 (2018), 41 OSCB 1596

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Xtra-Gold Resources Corp. Common Shares Xtra-Gold Resources Corp. 1 15/02/2018 38 0 -5,000 XXL Energy Corp. Common Shares wolverton, mark frank 3 12/02/2018 10 0.275 858,000 4,000 XXL Energy Corp. Common Shares wolverton, mark frank 3 12/02/2018 10 0.295 873,000 15,000 XXL Energy Corp. Common Shares wolverton, mark frank 3 12/02/2018 10 0.3 883,000 10,000 XXL Energy Corp. Common Shares wolverton, mark frank 3 12/02/2018 10 0.3 888,000 5,000 XXL Energy Corp. Common Shares wolverton, mark frank 3 12/02/2018 10 0.3 903,000 15,000 XXL Energy Corp. Common Shares wolverton, mark frank 3 13/02/2018 10 0.3 983,000 80,000 XXL Energy Corp. Common Shares wolverton, mark frank 3 13/02/2018 10 0.305 1,003,000 20,000 XXL Energy Corp. Common Shares wolverton, mark frank 3 16/02/2018 10 0.34 1,018,000 15,000 Yamana Gold Inc. Common Shares Bouchard, Yohann 5 27/07/2016 00 Yamana Gold Inc. Common Shares Bouchard, Yohann 5 15/02/2018 57 11,047 11,047 Yamana Gold Inc. Common Shares Bouchard, Yohann 5 15/02/2018 10 4.21 4,922 -6,125 Yamana Gold Inc. PSU Bouchard, Yohann 5 14/02/2018 56 182,546 79,699 Yamana Gold Inc. Restricted Shares Bouchard, Yohann 5 14/02/2018 56 158,156 79,699 Yamana Gold Inc. Restricted Shares Bouchard, Yohann 5 15/02/2018 57 147,109 -11,047 Yamana Gold Inc. Common Shares CAMPBELL, RICHARD 5 15/02/2018 57 28,992 11,047 Yamana Gold Inc. Common Shares CAMPBELL, RICHARD 5 15/02/2018 10 4.21 22,867 -6,125 Yamana Gold Inc. PSU CAMPBELL, RICHARD 5 14/02/2018 56 183,016 69,680 Yamana Gold Inc. Restricted Shares CAMPBELL, RICHARD 5 14/02/2018 56 151,328 69,680 Yamana Gold Inc. Restricted Shares CAMPBELL, RICHARD 5 15/02/2018 57 140,281 -11,047 Yamana Gold Inc. Common Shares Cina, Antonio 5 15/02/2018 57 14,697 4,697 Yamana Gold Inc. Common Shares Cina, Antonio 5 15/02/2018 10 4.21 12,093 -2,604 Yamana Gold Inc. PSU Cina, Antonio 5 14/02/2018 56 85,092 56,928 Yamana Gold Inc. Restricted Shares Cina, Antonio 5 14/02/2018 56 85,090 56,928 Yamana Gold Inc. Restricted Shares Cina, Antonio 5 15/02/2018 57 80,393 -4,697 Yamana Gold Inc. Common Shares Fernandez-Tobar, Gerardo 5 15/02/2018 57 114,193 9,820 Yamana Gold Inc. Common Shares Fernandez-Tobar, Gerardo 5 15/02/2018 10 4.21 108,748 -5,445 Yamana Gold Inc. PSU Fernandez-Tobar, Gerardo 5 14/02/2018 56 210,593 79,699 Yamana Gold Inc. Restricted Shares Fernandez-Tobar, Gerardo 5 14/02/2018 56 162,160 79,699 Yamana Gold Inc. Restricted Shares Fernandez-Tobar, Gerardo 5 15/02/2018 57 152,340 -9,820 Yamana Gold Inc. PSU Gallinger, Ross Douglas 5 14/02/2018 56 143,079 58,066 Yamana Gold Inc. Restricted Shares Gallinger, Ross Douglas 5 14/02/2018 56 115,856 58,066 Yamana Gold Inc. Common Shares LeBlanc, Jason 5 15/02/2018 57 7,366 Yamana Gold Inc. Common Shares LeBlanc, Jason 5 15/02/2018 57 7,366 Yamana Gold Inc. Common Shares LeBlanc, Jason 5 15/02/2018 10 4.21 -4,084 Yamana Gold Inc. Common Shares LeBlanc, Jason 5 15/02/2018 10 4.21 -4,084 Yamana Gold Inc. Common Shares LeBlanc, Jason 5 15/02/2018 57 70,959 11,047 Yamana Gold Inc. Common Shares LeBlanc, Jason 5 15/02/2018 10 4.21 64,834 -6,125 Yamana Gold Inc. PSU LeBlanc, Jason 5 14/02/2018 56 176,827 75,486 Yamana Gold Inc. Restricted Shares LeBlanc, Jason 5 14/02/2018 56 147,752 75,486 Yamana Gold Inc. Restricted Shares LeBlanc, Jason 5 15/02/2018 57 -7,366 Yamana Gold Inc. Restricted Shares LeBlanc, Jason 5 15/02/2018 57 -7,366 Yamana Gold Inc. Restricted Shares LeBlanc, Jason 5 15/02/2018 57 136,705 -11,047 Yamana Gold Inc. Common Shares Marsden, Henry 5 25/10/2017 00 Yamana Gold Inc. Common Shares Marsden, Henry 5 15/02/2018 57 904 904 Yamana Gold Inc. Common Shares Marsden, Henry 5 15/02/2018 10 4.21 438 -466 Yamana Gold Inc. PSU Marsden, Henry 5 25/10/2017 00 Yamana Gold Inc. PSU Marsden, Henry 5 14/02/2018 56 51,235 51,235 Yamana Gold Inc. Restricted Shares Marsden, Henry 5 14/02/2018 56 53,935 51,235 Yamana Gold Inc. Restricted Shares Marsden, Henry 5 15/02/2018 56 -904 Yamana Gold Inc. Restricted Shares Marsden, Henry 5 15/02/2018 56 -904 Yamana Gold Inc. Restricted Shares Marsden, Henry 5 15/02/2018 57 53,031 -904 Yamana Gold Inc. Common Shares McKnight, Greg 5 15/02/2018 57 18,655 Yamana Gold Inc. Common Shares McKnight, Greg 5 15/02/2018 57 18,655 Yamana Gold Inc. PSU McKnight, Greg 5 14/02/2018 56 335,757 121,939 Yamana Gold Inc. Restricted Shares McKnight, Greg 5 14/02/2018 56 267,223 121,939 Yamana Gold Inc. Restricted Shares McKnight, Greg 5 15/02/2018 57 -18,655 Yamana Gold Inc. Restricted Shares McKnight, Greg 5 15/02/2018 57 -18,655

February 22, 2018 (2018), 41 OSCB 1597

Insider Reporting

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Date/Month End Acquired/ Price Holdings Disposed Yamana Gold Inc. PSU Murphy, Eric Barry 5 14/02/2018 56 63,873 Yamana Gold Inc. PSU Murphy, Eric Barry 5 14/02/2018 56 63,873 Yamana Gold Inc. PSU Murphy, Eric Barry 5 14/02/2018 56 163,153 63,873 Yamana Gold Inc. Restricted Shares Murphy, Eric Barry 5 14/02/2018 56 137,100 63,873 Yamana Gold Inc. PSU Parsons, Stephen 5 15/05/2017 00 Yamana Gold Inc. PSU Parsons, Stephen 5 14/02/2018 56 54,651 54,651 Yamana Gold Inc. Restricted Shares Parsons, Stephen 5 15/05/2017 00 Yamana Gold Inc. Restricted Shares Parsons, Stephen 5 14/02/2018 56 54,651 54,651 Yamana Gold Inc. PSU Racine, Daniel 5 14/02/2018 56 284,391 121,939 Yamana Gold Inc. Restricted Shares Racine, Daniel 5 14/02/2018 56 250,341 121,939 Yamana Gold Inc. PSU Tsakos, Sofia 5 14/02/2018 56 218,176 75,486 Yamana Gold Inc. Restricted Shares Tsakos, Sofia 5 14/02/2018 56 170,439 75,486 Yellow Pages Limited Restricted Share Unit Andrews, Caroline 5 08/02/2018 56 6.95 22,768 5,698 Yellow Pages Limited Restricted Share Unit Bélanger, Yan 5 08/02/2018 56 6.95 17,517 5,183 Yellow Pages Limited Restricted Share Unit Cooper, Treena 4 08/02/2018 56 6.95 11,970 3,669 Yellow Pages Limited Restricted Share Unit Sciannamblo, Franco 5 08/02/2018 56 6.95 63,805 41,401 Zimtu Capital Corp. Common Shares Bottomley, Kevin 4 08/02/2018 00 Zimtu Capital Corp. Common Shares Bottomley, Kevin 4 14/02/2018 10 0.295 5,000 5,000 Zimtu Capital Corp. Common Shares Bottomley, Kevin 4 14/02/2018 10 0.3 41,000 36,000 ZTEST Electronics Inc. Common Shares Perreault, John 3, 4, 7, 5 09/02/2018 90 45,939 -100,000 ZTEST Electronics Inc. Common Shares Perreault, John 3, 4, 7, 5 09/02/2018 90 327,500 100,000

February 22, 2018 (2018), 41 OSCB 1598

Chapter 11

IPOs, New Issues and Secondary Financings

INVESTMENT FUNDS

Issuer Name: Issuer Name: BetaPro S&P 500 VIX Short-Term Futures™ 2x Daily Bull Fidelity American Disciplined Equity Class ETF Fidelity American Disciplined Equity Currency Neutral BetaPro S&P 500 VIX Short-Term Futures™ Daily Inverse Class ETF Fidelity American Equity Class Principal Regulator – Ontario Fidelity American Equity Currency Neutral Class Type and Date: Fidelity AsiaStar Class Amendment #1 to Final Long Form Prospectus dated Fidelity Asset Allocation Currency Neutral Private Pool February 15, 2018 Fidelity Asset Allocation Private Pool Received on February 16, 2018 Fidelity Balanced Class Portfolio Offering Price and Description: Fidelity Balanced Currency Neutral Private Pool – Fidelity Balanced Income Currency Neutral Private Pool Underwriter(s) or Distributor(s): Fidelity Balanced Income Private Pool N/A Fidelity Balanced Private Pool Promoter(s): Fidelity Canadian Asset Allocation Class N/A Fidelity Canadian Balanced Class Project #2697878 Fidelity Canadian Disciplined Equity Class Fidelity Canadian Equity Private Pool ______Fidelity Canadian Growth Company Class Issuer Name: Fidelity Canadian Large Cap Class Excel Emerging Markets Balanced Fund Fidelity Canadian Opportunities Class Excel India Balanced Fund Fidelity Canadian Short Term Income Class Excel High Income Fund Fidelity China Class Excel Money Market Fund Fidelity Concentrated Canadian Equity Private Pool Excel India Fund Fidelity Concentrated Value Private Pool Excel New India Leaders Fund Fidelity Corporate Bond Class Excel China Fund Fidelity Dividend Class Excel Chindia Fund Fidelity Dividend Plus Class Excel Emerging Markets Fund Fidelity Emerging Markets Class Principal Regulator – Ontario Fidelity Europe Class Type and Date: Fidelity Event Driven Opportunities Class Amendment #1 to Final Simplified Prospectus dated Fidelity Event Driven Opportunities Currency Neutral Class February 16, 2018 Fidelity Far East Class Received on February 16, 2018 Fidelity Global Balanced Class Portfolio Offering Price and Description: Fidelity Global Class – Fidelity Global Concentrated Equity Class Underwriter(s) or Distributor(s): Fidelity Global Consumer Industries Class Excel Funds Management Inc. Fidelity Global Disciplined Equity Class Promoter(s): Fidelity Global Disciplined Equity Currency Neutral Class Excel Funds Management Inc. Fidelity Global Dividend Class Project #2671952 Fidelity Global Equity Currency Neutral Private Pool Fidelity Global Equity Private Pool ______Fidelity Global Financial Services Class Fidelity Global Growth Class Portfolio Fidelity Global Health Care Class Fidelity Global Income Class Portfolio Fidelity Global Innovators Class Fidelity Global Innovators Currency Neutral Class Fidelity Global Intrinsic Value Class Fidelity Global Intrinsic Value Currency Neutral Class Fidelity Global Large Cap Class Fidelity Global Large Cap Currency Neutral Class Fidelity Global Natural Resources Class Fidelity Global Real Estate Class

February 22, 2018 (2018), 41 OSCB 1599

IPOs, New Issues and Secondary Financings

Fidelity Global Small Cap Class Issuer Name: Fidelity Global Telecommunications Class Bank of Nova Scotia, The Fidelity Greater Canada Class Principal Regulator – Ontario Fidelity Growth Class Portfolio Type and Date: Fidelity Income Class Portfolio Final Shelf Prospectus (NI 44-102) dated February 13, Fidelity Insights Class 2018 Fidelity Insights Currency Neutral Class NP 11-202 Receipt dated February 13, 2018 Fidelity International Disciplined Equity Class Offering Price and Description: Fidelity International Disciplined Equity Currency Neutral $6,000,000,000.00 – Senior Notes (Principal at Risk Notes) Class Underwriter(s) or Distributor(s): Fidelity International Equity Currency Neutral Private Pool Scotia Capital Inc. Fidelity International Equity Private Pool Desjardins Securities Inc. Fidelity International Growth Class Industrial Alliance Securities Inc. Fidelity Japan Class Laurentian Bank Securities Inc. Fidelity Monthly Income Class Manulife Securities Incorporated Fidelity North American Equity Class Promoter(s): Fidelity NorthStar Class N/A Fidelity NorthStar Currency Neutral Class Project #2724982 Fidelity Premium Fixed Income Private Pool Class Fidelity Small Cap America Class ______Fidelity Small Cap America Currency Neutral Class Fidelity Special Situations Class Fidelity Technology Innovators Class (formerly, Fidelity Global Technology Class) Fidelity True North Class Fidelity U.S. All Cap Class Fidelity U.S. All Cap Currency Neutral Class Fidelity U.S. Equity Currency Neutral Private Pool Fidelity U.S. Equity Private Pool Fidelity U.S. Focused Stock Class (formerly Fidelity Growth America Class) Fidelity U.S. Focused Stock Currency Neutral Class Principal Regulator – Ontario Type and Date: Combined Preliminary and Pro Forma Simplified Prospectus dated February 15, 2018 NP 11-202 Preliminary Receipt dated February 16, 2018 Offering Price and Description: Series P2T5, P3T5, P4T5, P5T5, P3, P4, P5, E1T5, E2T5, E3, E3T5 E4, E5 Underwriter(s) or Distributor(s): N/A Promoter(s): Fidelity Investments Canada ULC Project #2729743

______Issuer Name: Vanguard Canadian Aggregate Bond Index ETF Principal Regulator – Ontario Type and Date: Amendment #1 to Final Long Form Prospectus dated February 13, 2018 Received on February 13, 2018 Offering Price and Description: – Underwriter(s) or Distributor(s): N/A Promoter(s): Vanguard Investments Canada Inc. Project #2550162

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February 22, 2018 (2018), 41 OSCB 1600

IPOs, New Issues and Secondary Financings

Issuer Name: Issuer Name: PowerShares 1-10 Year Laddered Investment Grade PowerShares FTSE RAFI Global Small-Mid Fundamental Corporate Bond Index ETF ETF PowerShares 1-3 Year Laddered Floating Rate Note Index PowerShares Global Shareholder Yield ETF ETF PowerShares Low Volatility Portfolio ETF PowerShares 1-5 Year Laddered All Government Bond PowerShares Tactical Bond ETF Index ETF Principal Regulator – Ontario PowerShares 1-5 Year Laddered Investment Grade Type and Date: Corporate Bond Index ETF Final Long Form Prospectus dated February 16, 2018 PowerShares Canadian Dividend Index ETF NP 11-202 Receipt dated February 16, 2018 PowerShares Canadian Preferred Share Index ETF Offering Price and Description: PowerShares DWA Global Momentum Index ETF CAD Units, USD Units and CAD Hedged Units PowerShares FTSE RAFI Canadian Fundamental Index Underwriter(s) or Distributor(s): ETF N/A PowerShares FTSE RAFI Canadian Small-Mid Promoter(s): Fundamental Index ETF Invesco Canada Ltd. PowerShares FTSE RAFI Global+ Fundamental Index ETF Project #2703174 PowerShares FTSE RAFI U.S. Fundamental Index ETF PowerShares FTSE RAFI U.S. Fundamental Index ETF II ______PowerShares Fundamental High Yield Corporate Bond Issuer Name: Index ETF Vanguard Canadian Aggregate Bond Index ETF PowerShares LadderRite U.S. 0-5 Year Corporate Bond Principal Regulator – Ontario Index ETF Type and Date: PowerShares QQQ Index ETF Amendment #1 to Final Long Form Prospectus dated PowerShares S&P 500 High Dividend Low Volatility Index February 13, 2018 ETF NP 11-202 Receipt dated February 15, 2018 PowerShares S&P 500 Low Volatility Index ETF Offering Price and Description: PowerShares S&P Emerging Markets Low Volatility Index – ETF Underwriter(s) or Distributor(s): PowerShares S&P Global ex. Canada High Dividend Low N/A Volatility Index ETF Promoter(s): PowerShares S&P International Developed Low Volatility Vanguard Investments Canada Inc. Index ETF Project #2550162 PowerShares S&P/TSX Composite Low Volatility Index ETF ______PowerShares S&P/TSX REIT Income Index ETF PowerShares Senior Loan Index ETF PowerShares Ultra Liquid Long Term Government Bond Index ETF Principal Regulator – Ontario Type and Date: Final Long Form Prospectus dated February 16, 2018 NP 11-202 Receipt dated February 16, 2018 Offering Price and Description: USD Units, CAD Units and CAD Hedged Units @ Net Asset Value Underwriter(s) or Distributor(s): N/A Promoter(s): Invesco Canada Ltd. Project #2703193

______

February 22, 2018 (2018), 41 OSCB 1601

IPOs, New Issues and Secondary Financings

NON-INVESTMENT FUNDS

Issuer Name: Issuer Name: Alopex Gold Inc. Pine Trail Capital Trust Principal Regulator – Ontario Principal Regulator – Alberta (ASC) Type and Date: Type and Date: Preliminary Short Form Prospectus dated February 14, Preliminary CPC Prospectus (TSX-V) dated February 14, 2018 2018 NP 11-202 Preliminary Receipt dated February 14, 2018 NP 11-202 Preliminary Receipt dated February 15, 2018 Offering Price and Description: Offering Price and Description: Minimum Offering: $4,000,000.00 $400,000.00 – 4,000,000 Trust Units Maximum Offering: $7,000,000.00 Price: $0.10 per Trust Unit Up to [*]Common Shares Underwriter(s) or Distributor(s): Underwriter(s) or Distributor(s): Haywood Securities Inc. Paradigm Capital Inc. Promoter(s): Canaccord Genuity Corp. Andrew Shapack Haywood Securities Inc. Sean Nakamoto Promoter(s): Project #2729150 Arctic Resources Capital S.a.r.l. Lux Business Management S.a.r.l. ______FBC Mining (NALUNAQ) Limited Issuer Name: Project #2728938 Tempus Capital Inc. Principal Regulator – Ontario ______Type and Date: Issuer Name: Preliminary Long Form Prospectus dated February 14, Apolo III Acquisition Corp. 2018 Principal Regulator – Ontario NP 11-202 Preliminary Receipt dated February 15, 2018 Type and Date: Offering Price and Description: Preliminary CPC Prospectus (TSX-V) dated February 14, – 2018 Underwriter(s) or Distributor(s): NP 11-202 Preliminary Receipt dated February 15, 2018 – Offering Price and Description: Promoter(s): Offering: $500,000.00 (5,000,000 Common Shares) Russell Tanz Price: $0.10 per Common Share Project #2729058 Underwriter(s) or Distributor(s): Haywood Securities Inc. ______Promoter(s): Issuer Name: – Tetra Bio-Pharma Inc. Project #2728925 Principal Regulator – Ontario Type and Date: ______Preliminary Short Form Prospectus dated February 14, Issuer Name: 2018 George Weston Limited NP 11-202 Preliminary Receipt dated February 14, 2018 Principal Regulator – Ontario Offering Price and Description: Type and Date: $10,000,000.00 Preliminary Shelf Prospectus dated February 12, 2018 10,000,000 Units NP 11-202 Preliminary Receipt dated February 13, 2018 Price: $1.00 per Unit Offering Price and Description: Underwriter(s) or Distributor(s): $1,000,000,000.00 – Senior Unsecured Debt Securities, Echelon Wealth Partners Inc. Subordinated Unsecured Debt Securities, Preferred Shares Promoter(s): Underwriter(s) or Distributor(s): – – Project #2728947 Promoter(s): – ______Project #2728177

______

February 22, 2018 (2018), 41 OSCB 1602

IPOs, New Issues and Secondary Financings

Issuer Name: Issuer Name: Valeura Energy Inc. Newstrike Resources Ltd. Principal Regulator – Alberta (ASC) Principal Regulator – Ontario Type and Date: Type and Date: Preliminary Short Form Prospectus dated February 14, Final Short Form Prospectus dated February 12, 2018 2018 NP 11-202 Receipt dated February 13, 2018 NP 11-202 Preliminary Receipt dated February 14, 2018 Offering Price and Description: Offering Price and Description: $80,005,200.00 – 60,610,000 Offered Units; Price: $1.32 $60,003,900.00 – 10,527,000 Common Shares per Offered Unit $5.70 per Common Share Underwriter(s) or Distributor(s): Underwriter(s) or Distributor(s): Infor financial Inc. GMP Securities L.P. Cormark Securities Inc. Cormark Securities Inc. Eight Capital Promoter(s): Haywood Securities Inc. – Promoter(s): Project #2728999 – Project #2723486 ______Issuer Name: ______Bank of Nova Scotia, The Issuer Name: Principal Regulator – Ontario Plaza Retail REIT Type and Date: Principal Regulator – New Brunswick Final Shelf Prospectus dated February 13, 2018 Type and Date: NP 11-202 Receipt dated February 13, 2018 Final Short Form Prospectus dated February 13, 2018 Offering Price and Description: NP 11-202 Receipt dated February 13, 2018 $6,000,000,000.00 – Senior Notes (Principal at Risk Notes) Offering Price and Description: Underwriter(s) or Distributor(s): $45,000,000.00 – 5.10% Convertible Unsecured Scotia Capital Inc. Subordinated Debentures due March 31, 2023 Desjardins Securities Inc. Underwriter(s) or Distributor(s): Industrial Alliance Securities Inc. RBC Dominion Securities Inc. Laurentian Bank Securities Inc. BMO Nesbitt Burns Inc. Manulife Securities Incorporated CIBC World Markets Inc. Promoter(s): Scotia Capital Inc. – Desjardins Securities Inc. Project #2724982 Canaccord Genuity Corp. Raymond James Ltd. ______Industrial Alliance Securities Inc. Issuer Name: Promoter(s): Canadian National Railway Company – Principal Regulator – Quebec Project #2725013 Type and Date: Final Shelf Prospectus dated February 13, 2018 ______NP 11-202 Receipt dated February 14, 2018 Issuer Name: Offering Price and Description: RMR Science Technologies Inc. $6,000,000,000.00 – Debt Securities Principal Regulator – British Columbia Underwriter(s) or Distributor(s): Type and Date: – Final CPC Prospectus (TSX-V) dated February 9, 2018 Promoter(s): NP 11-202 Receipt dated February 15, 2018 – Offering Price and Description: Project #2721081 OFFERING: $500,000.00 (5,000,000 CLASS “A” COMMON SHARES) ______Price: $0.10 per Class “A” Common Share Underwriter(s) or Distributor(s): PI Financial Corp. Promoter(s): Robin Hutchison Project #2715797

______

February 22, 2018 (2018), 41 OSCB 1603

IPOs, New Issues and Secondary Financings

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February 22, 2018 (2018), 41 OSCB 1604

Chapter 12

Registrations

12.1.1 Registrants

Type Company Category of Registration Effective Date

From: Exempt Market Dealer, Portfolio Manager and Investment Fund Change in Registration J. Priest Investment Manager February 13, 2018 Category Management Inc.

To: Exempt Market Dealer and Portfolio Manager

From: Fidelity (Canada) Investment Management ULC Name Change Portfolio Manager January 30, 2018

To: Fidelity Management & Research (Canada) ULC

Terra Cotta Investment Portfolio Manager and New Registration February 16, 2018 Counsel Inc. Exempt Market Dealer

From: Mellon Capital Management Corporation Portfolio Manager

Name Change andCommodity Trading January 31, 2018 To: BNY Mellon Asset Manager Management North America Corporation

From: Pareto Investment Management Limited Name Change Portfolio Manager February 1, 2018 To: Insight Investment International Limited

February 22, 2018 (2018), 41 OSCB 1605

Registrations

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February 22, 2018 (2018), 41 OSCB 1606

Chapter 13

SROs, Marketplaces, Clearing Agencies and Trade Repositories

13.2 Marketplaces

13.2.1 TSX Inc. – Introduction of Contra Mid-Point Only (CMO) Order Type – Notice of Approval

TSX INC.

NOTICE OF APPROVAL

CONTRA MID-POINT ONLY ORDER (CMO)

In accordance with the Process for the Review and Approval of the Information Contained in Form 21-101F1 and the Exhibits Thereto (Protocol), on February 16, 2018, the Commission approved significant changes to Form 21-101F1 for TSX Inc. reflecting the introduction of the Contra Mid-Point Only (CMO) order type.

A Staff notice and TSX’s Request for Comment on the proposed change was published on the Commission’s website and in the Commission Bulletin on November 23, 2017, at (2017), 40 OSCB 9459. No comment letters were received.

As CMO orders only execute against other CMO orders at the mid-point, a public post-trade marker will be added to all CMO executions to ensure transparency of executions of CMO orders. This marker will be implemented with the introduction of the order.

TSX will communicate the date of implementation.

February 22, 2018 (2018), 41 OSCB 1607

SROs, Marketplaces, Clearing Agencies and Trade Repositories

13.3 Clearing Agencies

13.3.1 CDCC – Amendments to the Rules of the Canadian Derivatives Clearing Corporation to Expand Share Futures Contracts to Exchange Traded Funds and Trust Units – OSC Staff Notice of Request for Comment

OSC STAFF NOTICE OF REQUEST FOR COMMENT

CANADIAN DERIVATIVES CLEARING CORPORATION (CDCC)

AMENDMENTS TO THE RULES OF THE CANADIAN DERIVATIVES CLEARING CORPORATION TO EXPAND SHARE FUTURES CONTRACTS TO EXCHANGE TRADED FUNDS AND TRUST UNITS

The Ontario Securities Commission is publishing for 30 day public comment the proposed amendments to Rule C-15 of CDCC’s Rules. The purpose of the proposed rule amendments is to allow a broader range of securities to constitute underlying interests of share futures under Rule C-15, namely exchange traded funds and trust units.

The comment period ends on March 26, 2018.

A copy of the CDCC Notice is published on our website at http://www.osc.gov.on.ca.

[Editor’s Note: The CDCC Notice is reproduced on the following separately numbered pages. Bulletin pagination resumes at the end of the Notice.]

February 22, 2018 (2018), 41 OSCB 1608

NOTICE TO MEMBERS No. 2018 – 016 February 12, 2018

REQUEST FOR COMMENTS

AMENDMENTS TO THE RULES OF THE CANADIAN DERIVATIVES CLEARING CORPORATION TO EXPAND SHARE FUTURES CONTRACTS TO EXCHANGE TRADED FUNDS AND TRUST UNITS

Summary

On February 6th, 2018, the Board of Directors of Canadian Derivatives Clearing Corporation (“CDCC”) approved certain amendments to Rule C-15 of CDCC’s Rules. Current Rule C-15 pertains to the approval and eligibility of share futures, and delivery of related underlying interests, which underlying interests are limited to individual stocks. The purpose of the proposed amendments is to allow a broader range of securities to constitute underlying interests of share futures under Rule C-15, namely exchange traded funds and trust units.

Please find enclosed an analysis document as well as the proposed amendments.

Process for Changes to the Rules

CDCC is recognized as a clearing house under section 12 of the Derivatives Act (Québec) by the Autorité des marchés financiers (“AMF”) and is a recognized clearing agency under section 21.2 of the Securities Act (Ontario) by the Ontario Securities Commission (“OSC”).

The Board of Directors of CDCC has the power to approve the adoption or amendment of the Rules and the Operations Manual of CDCC. Amendments are submitted to the AMF in accordance with the self-certification process and to the OSC in accordance with the process provided in its Recognition Order.

Canadian Derivatives Clearing Corporation 100 Adelaide Street W 800 Victoria Square 3rd Floor 3rd Floor Toronto, Ontario Montréal, Québec M5H 1S3 H4Z 1A9 Tel. : 416-367-2470 Tel. : 514-871-3545 www.cdcc.ca Comments on the proposed amendments must be submitted before March 16th, 2018. Please submit your comments to:

Mr. Alexandre Normandeau Legal Counsel, Montreal Exchange & CDCC Canadian Derivatives Clearing Corporation Tour de la Bourse P.O. Box 61, 800 Victoria Square Montréal, Québec H4Z 1A9 E-mail: [email protected]

A copy of these comments shall also be forwarded to the AMF and to the OSC to:

Mrs. Anne-Marie Beaudoin Manager, Market Regulation Corporate Secretary Market Regulation Branch Autorité des marchés financiers Ontario Securities Commission Tour de la Bourse, P.O. Box 246 Suite 2200, 800 Victoria Square, 22nd Floor 20 Queen Street West Montréal, Québec H4Z 1G3 Toronto, Ontario, M5H 3S8 E-mail:consultation-en- Fax: 416-595-8940 [email protected] email: [email protected]

For any question or clarification, Clearing Members may contact CDCC’s Corporate Operations.

Glenn Goucher President and Chief Clearing Officer

AMENDMENTS TO THE RULES OF THE CANADIAN DERIVATIVES CLEARING CORPORATION TO EXPAND SHARE FUTURES CONTRACTS TO EXCHANGE TRADED FUNDS AND TRUST UNITS

SUMMARY P 2

ANALYSIS P 2

Background P 2

Description and Analysis of Impacts P 2

Proposed Amendments P 3

Benchmarking P 3

IMPACTS ON TECHNOLOGICAL SYSTEMS P 4

OBJECTIVES OF THE PROPOSED AMENDMENTS P 4

PUBLIC INTEREST P 4

MARKET IMPACTS P 4

PROCESS P 4

EFFECTIVE DATE P 4

ATTACHED DOCUMENTS P 4

I. SUMMARY

Bourse de Montréal Inc. (the “Bourse”) launched share futures (also known as “Single Stock Futures” or “SSF”) on Canadian stocks in December 2016. As a result, the Rules of the Canadian Derivatives Clearing Corporation (“CDCC”) contain certain provisions pertaining to the approval and eligibility of share futures, and delivery of related underlying interests.

Since the launch of SSF on Canadian stocks, market participants of the Bourse have expressed their interest in trading share futures with an underlying other than Canadian stocks, more specifically on Exchange-Traded funds (“ETFs”) and Trust Units (“TUs”). The Bourse has therefore decided to launch share futures on ETFs and TUs, and consequently, CDCC proposes minor amendments to its Rules in order to allow a broader range of securities to constitute underlying interests of share futures, namely ETFs and TUs.

II. ANALYSIS

a. Background

On January 31, 2001, the Bourse launched physically delivered futures contracts on Nortel, North America’s first share futures contract. Since the offering never gained traction, the contract was delisted and the product line discontinued.

On February 29, 2012, the Bourse officially announced the introduction of a new share futures product line given renewed interest by market participants. The contracts were to be listed for trading on March 2, 2012. The day preceding the launch, it was discovered that an important external stakeholder would not be able to support the product launch and the launch was subsequently called off.

In December 2016, the Bourse reintroduced share futures on Canadian equities. The product has been welcomed by market participants and to date has averaged 4500 daily contracts.

TUs make up significant part of the TSX-listed securities and are included in various Canadian equity indices, namely the S&P/TSX 60, and ETFs have been subject to an increasing demand by market participants due to their cost effective structure, hence the current interest in share futures on ETFs and TUs.

b. Description and Analysis of Impacts

From a risk perspective, share futures are calibrated using the current risk methodology for Futures. The introduction of ETFs and TUs as underlying interests of share futures does not require modifications to the Risk Manual and Operations Manual, which were modified to account for share futures back in 2016.

CDCC will leverage its current clearing model for futures and margin requirements will be calculated using SPAN® methodology. To calculate an appropriate margin requirement in SPAN, CDCC must consider the risk dynamic of each share future underlying. Margin offset will be limited to share futures sharing the same underlying. No margin relief between share futures sharing different underlying will be offered.

The following describes the main terms and conditions for margin requirements and cash settlement applicable to the clearing of share futures on ETFs and TUs, which are the same as for the clearing of share futures on stocks.

In order to integrate all the main market risk factors in SPAN, the following modeling elements were considered to develop a coherent margin requirement for share futures:

1) Margin Interval (MI) is calculated on a daily basis based on the methodology applicable for Options; 2) CDCC bundles together (in a same Bucket or Combined Commodity1) share futures with the same underlying; 3) No margin reduction is offered between share futures sharing different underlying interests.

In order to calculate the variation margin, share futures contracts are marked-to-market daily based on the daily settlement price established by the Bourse. At the expiration date, the contract is physically-settled at the final settlement price determined by the Bourse. The Bourse shall publish and report to CDCC the final settlement price on the first business day following the last trading day of the contract.

c. Proposed Amendments

The proposed amendments to Rule C-15 of CDCC’s Rules are attached. These proposed minor changes expand the horizon of share futures by adding ETFs and TUs as potential underlying interests.

d. Benchmarking

The following table describes the margin model used by each CCP associated to the clearing of share futures. Netting with Exchange CCP Listing status Margin model options products

Montreal Exchange CDCC Live No SPAN methodology

OneChicago OCC Live Yes2 SPAN methodology

EUREX Eurex Clearing Live Yes Prisma portfolio-based margining

Euronext LCH Clearnet Live Yes SPAN methodology

ICE Futures Europe ICE Clear Europe Live Yes SPAN methodology

1 Combined Commodity is a basic concept used for risk calculation in SPAN®. This is a set of contracts having the same underlying instrument. 2 OCC members are able to reduce costs by cross-margining their security futures positions against offsetting options. 3

CDCC does not propose to modify its current methodology for the clearing of share futures as the same methodology can be used for various underlying interests (stocks, ETFs and TUs). CDCC’s margin model is aligned with the models used by various clearing houses globally.

III. IMPACTS ON TECHNOLOGICAL SYSTEMS

Based on a review of the technological requirements related to existing share futures, CDCC has concluded that this initiative will not require any development work nor have impacts on its or its clearing members’ technological systems.

IV. OBJECTIVES OF THE PROPOSED MODIFICATIONS

The proposed amendments are motivated by the Bourse’s decision to expand the underlying interests of share futures beyond individual Canadian or international stocks, to include ETFs and TUs, which demands minor amendments to the Rules of CDCC.

V. PUBLIC INTEREST

The modifications to the Rules of CDCC are proposed to make possible the clearing of share futures on ETFs and TUs. In CDCC’s opinion, the proposed amendments are not contrary to the public interest as they would allow for more products to be cleared using CDCC’s services.

VI. MARKET IMPACTS

CDCC does not believe that this initiative will have significant market impacts, and it will adjust margin funds according to the additional activity generated by the introduction of new share futures.

VII. PROCESS

The proposed amendments are submitted for approval by the CDCC Board. After the approval has been obtained, the proposed amendments, including this analysis, will be transmitted to the Autorité des marchés financiers in accordance with the self-certification process, and to the Ontario Securities Commission in accordance with the “Rule Change Requiring Approval in Ontario” process. The proposed amendment and analysis will also be submitted for approval to the Bank of Canada in accordance with the Regulatory Oversight Agreement.

VIII. EFFECTIVE DATE

CDCC would like to implement the amendments in the second quarter of 2018, in line with the Bourse’s introduction timeline.

IX. ATTACHED DOCUMENTS

Amended Rules.

PART B – OPTIONS

RULE B-l CLEARING OF EXCHANGE TRANSACTIONS IN OPTIONS

The provisions of this Part B shall apply only to Exchange Transactions which are trades in Options issued by the Corporation pursuant to these Rules and to those Clearing Members who are required to make a base deposit to the Clearing Fund for Options clearing as set out in Subsection A-601(2)(a).

[…]

RULE B-6 SECURITIES OPTIONS

This Rule B-6 is applicable to American Style Options and European Style Options where the Underlying Interest is a class of shares or a class of units. Such Options are referred to in this Rule B-6 as “Securities Options”.

SECTION B-601 DEFINITIONS

Notwithstanding Section A-102, the following definitions shall apply to Rule B-6:

“American Exchange” – means a national securities exchange as defined in the Securities Exchange Act of 1934, as amended from time to time.

“American ATS” – means an alternative trading system, as defined by the U.S. Securities and Exchange Commission in its Rules, as amended from time to time.

“ATS” – means Canadian ATS and American ATS.

“Canadian ATS” – means an alternative trading system, as defined in Regulation 21-101 respecting Marketplace Operation, as amended from time to time.

“Canadian Exchange” – means a recognized exchange as defined in Regulation 21-101 respecting Marketplace Operation, as amended from time to time.

“ETF” – means an exchange-traded funds, the Securities of which are listed on a Canadian Exchange.

“North American Volume” – for the purposes of the eligibility and ineligibility of the Underlying Interests of Options, means the aggregate trading volume on all Canadian Exchanges and American Exchanges and all the ATS where the underlying Securities are traded.

“Primary Exchange” – as regards a specific Security on a given day, means the Canadian Exchange on which such Security is listed if it is listed on only one Canadian Exchange. Where such specific Security is listed on more than one Canadian Exchange, then it shall mean the Canadian Exchange which has the highest trading volume on such Security on a given day, as determined by the Corporation.

“Securities Option” – means an American Style Option or a European Style Option for which the Underlying Interest is a class of shares or a class of units.

“Security” – means a share or a unit.

“Share” – means an instrument of title issued by a corporation or an ETF which is an open-end investment company.

“Underlying Interest” – means Securities meeting the criteria described in this Rule.

“Unit” – means an instrument of title issued by a trust or by an ETF which is a trust.

“Unit of Trading” – means 100 shares of the Underlying Interest, unless otherwise indicated.

“Value of Available Public Float” – means the value of the available public float as calculated by the following formula: as regards a specific Security on a given day, the number of units of the Security outstanding and available for trading by the public, multiplied by the closing price of such Security on the Primary Exchange.

SECTION B-602 APPROVAL OF UNDERLYING INTEREST

1) The Securities underlying the Securities Options issued by the Corporation shall be approved by the Corporation based on criteria described in Section B-603 or B-605 of the Rules.

2) No more than one Class of Securities Options shall be approved for any one issuer, unless the Corporation considers it necessary or advisable, as a temporary measure, that there be additional Classes of Options.

SECTION B-603 CRITERIA FOR ELIGIBILITY OF SECURITIES UNDERLYING OPTIONS

1) To determine whether any Securities should be approved as the Underlying Interest of a Securities Option, the Corporation, in those circumstances where Section B-607 does not apply, shall ensure that prior to being approved as an Underlying Interest the Securities meet all of the following criteria:

a) the Security is listed on a Canadian Exchange;

b) the Value of Available Public Float is within the top thirty percentile (30%) of the aggregate Value of Available Public Float listed on all Canadian Exchanges as of the last Business Day of the previous quarter. The specific dollar threshold will be published by the Corporation;

c) the daily average North American Volume of the Security for the last twenty (20) Business Days of the previous quarter is within the top thirty percentile (30%) of the North American Volume of the Securities listed on all Canadian Exchanges as of the last Business Day of the previous quarter. The specific threshold will be published by the Corporation.

2) The Corporation may approve as an Underlying Interest a Security which does not otherwise meet the eligibility criteria set forth in Subsection B-603(1), but which meets all of the following criteria:

a) the Security is listed on a Canadian Exchange;

b) the Value of Available Public Float is within the top thirty percentile (30%) of the aggregate Value of Available Public Float listed on all the Canadian Exchanges on the last Business Day of the current quarter; and

c) the daily average North American Volume of the Security for the last twenty (20) Business Days of the Current quarter is within the top thirty percentile (30%) of the North American Volume of the Securities listed on all the Canadian Exchanges on the last Business Day of the current quarter.

SECTION B-604 INELIGIBILITY CRITERIA OF SECURITIES UNDERLYING OPTIONS

1) Except as provided in Subsection B-604(2), no new Series of a Class of Securities Options which is already listed may be opened for trading if any one of the following conditions occurs with respect to the Underlying Interest:

a) the Security is no longer listed on a Canadian Exchange;

b) the Value of the Available Public Float of the Security is below the top forty percentile (40%) of the aggregate Value of Available Public Float listed on all Canadian Exchanges as of the last Business Day of the previous quarter. The specific dollar threshold will be published by the Corporation;

c) the daily average North American Volume of the Security for the last twenty (20) Business Days of the previous quarter is below the top forty percentile (40%) of the North American Volume of the Securities listed on all Canadian Exchanges as of the last Business Day of the previous quarter. The specific threshold will be published by the Corporation.

2) In exceptional circumstances and in the interest of maintaining a fair and orderly market or for the protection of investors, the Corporation may agree to clear additional Series of Options with respect to any Underlying Interest which complies with the criteria described in Paragraphs B-604(1)(b) or (c), provided that the Security is listed on a Canadian Exchange.

SECTION B-605 CRITERIA FOR THE ELIGIBILITY OF ETF SECURITIES AS UNDERLYING INTERESTS OF OPTIONS

1) Where the eligibility criteria set forth in section B-603 are not met, to determine whether Securities issued by an ETF should be eligible as an Underlying Interest of Securities Option, the Corporation may approve the listing thereof as an Underlying Interest, where the ETF meets all the following criteria:

a) the Securities issued are listed on a Canadian Exchange;

b) the Value of Available Public Float is equal to or greater the CAN$20 million;

c) the Securities issued may be created or repurchased upon request every Business Day by the ETF for an amount based on the net asset value; and

d) the documentation is deemed satisfactory by the Corporation.

2) The ETF Securities eligible as Underlying Interests of Options pursuant to Subsection (1) are not subject to the ineligibility criteria set forth in Section B-604.

SECTION B-606 CRITERIA FOR THE INELIGIBILITY OF ETF SECURITIES AS UNDERLYING INTERESTS OF OPTIONS

No new series of a Class of ETF Securities listed on an Exchange under Section B-605 shall be eligible for trading if any one of the following events occurs in respect of the Underlying Interest:

a) the Security is no longer listed on a Canadian Exchange;

b) the Securities cease to be created or repurchased upon request every Business Day; or

c) the documentation is deemed unacceptable by the Corporation.

SECTION B-607 EVENT RELATING TO UNDERLYING INTERESTS OF SECURITIES OPTIONS

1) Acquisition of a Listed Entity by a Newly-Established Entity

If a newly-established entity has acquired a listed entity, the trading record and history of the acquired entity may be used to test the options eligibility of the Securities of the new entity as provided for in Section B-603.

2) Name Changes

Corporate name changes have no effect on listed issues options eligibility. All statistics and history prior to the entity name change continue to apply to the Underlying Interest of such entity under the new corporate name.

3) Substitutional Listings

When a Security list change which is the result of a merger or acquisition involving the issuance or acquisition of listed Securities has occurred, the eligibility for Securities Options of all listed issues connected with the change shall be reviewed by the Corporation. No decision to change the option- eligibility status of a listed Underlying Interest will occur until after such merger or acquisition is completed. The general process which applies is as follows:

i) the Corporation shall ensure that each of the entities involved in such merger or acquisition is listed on a Canadian Exchange; or ii) on receipt of the notice of an event relating to the Underlying Interest or following the closing date of a Securities purchase offer, the Corporation shall ensure that the Securities of at least one of the entities involved are an Underlying Interest for Options currently listed on a Canadian Exchange, and these Options are not at or past the date where no new series may be listed if they are classified as delistable by the Corporation, nor is the Underlying Interest for these Options classified as ineligible under Section B-604 or Section B-606.

b) The Corporation shall ensure that, prior to the merger or acquisition involving the issuance or acquisition of listed Securities, the sum of the Value of Available Public Float of the entities involved in the merger or acquisition meets the criteria set out in Paragraph B- 603(1)(b) or Paragraph B-603(2)(b) or Paragraph B-605(1)(b) of the Rules.

c) It is confirmed by the Corporation that the resultant company is listed on a Canadian Exchange.

d) It is confirmed by the Corporation that the resultant company exceeds the criteria set out in Paragraph B-604(1)(b) of the Rules.

4) New Securities

If new Securities are created for the purpose of completing a merger or acquisition involving the issuance or acquisition of listed Securities, the relationship between the old and new Securities will determine whether the new Securities will be treated either as a substitutional, original or supplementary listing by the Corporation. Generally if the new issue is the only common issue of the entity, then the new issue will be treated as a substitutional issue. Otherwise the issue will be treated as an original or supplementary issue by the Corporation.

[…]

CANADIAN DERIVATIVES CLEARING CORPORATION

PART C – FUTURES

RULE C-1 CLEARING OF EXCHANGE TRANSACTIONS RESPECTING FUTURES

The provisions of this Part C shall apply only to Exchange Transactions which are trades in Futures issued by the Corporation, pursuant to these rules and to those Clearing Members who are required to make a base deposit to the Clearing Fund for Futures clearing as set out in Paragraph A-601(2)(b).

[…]

RULE C-15 SHARE FUTURES

The Sections of this Rule C-15 are applicable only for Futures settling on a future date where the Underlying Interest is an individual stock, exchange-traded fund or trust unit.

SECTION C-1501 DEFINITIONS

“Canadian Share Futures” – A Futures contract that requires the parties to this contract to make or receive delivery of a specified number of Canadian Stocks underlying interests at the expiry of the contract at a price agreed upon when the contract was entered into on the Exchange.

“Canadian StockUnderlying Interest” – An individual stock, exchange-traded fund or trust unit issued by a Canadian reporting issuer listed on a recognized exchange as defined in Regulation 21-101 respecting Marketplace Operation, as amended from time to time.

“Delivery” – physical delivery made in accordance with the delivery procedure of CDS following the Maturity Date, or on a day as otherwise determined by the Corporation.

“Final Settlement Price” – the price of the Underlying Interest as determined by the product specifications of the Bourse de Montréal Inc.

“Foreign Share Futures” – A Futures contract that requires the parties to this contract to pay or receive from the Corporation the difference between the Final Settlement Price of the Underlying Interest and the initial Trade Price multiplied by the appropriate Unit of Trading.

“Last Trading Date” – the Maturity Date.

“Maturity Date” – the Final Settlement Date as defined by the Bourse de Montréal Inc. from time to time.

“Recognized Exchange” – a recognized exchange according to the definition in Rule One of Bourse de Montréal Inc. as amended from time to time.

“Settlement Price” – the official daily closing price of a Futures, as determined in accordance with Section C-301.

“Underlying Interest” – sStocks, exchange-traded funds or trust units meeting the criteria described in this Rule.

“Unit of Trading” – 100 shares of the Underlying Interest, unless otherwise designated.

SECTION C-1502 APPROVAL OF UNDERLYING INTEREST

1) The sStocks, exchange-traded funds or trust units underlying the Futures issued by the Corporation shall be approved based on criteria described in Section C-1503 of the Rules.

SECTION C-1503 CRITERIA FOR ELIGIBILITY OF SHARE FUTURES

In considering whether any sStock, exchange-traded fund or trust unit should be approved as the Underlying Interest of a Share Futures, the Corporation, in those circumstances where C-1505 does not apply, shall ensure that prior to being approved as an Underlying Interest the sStock, exchange-traded fund or trust unit meets all of the following criteria:

1) For a Canadian Share Futures, the Canadian SharetockUnderlying Interest will meet the Options eligibility criteria described in Section B-603 or B-605, as applicable.

2) For a Foreign Share Futures, the sStock, exchange-traded fund or trust unit:

i) trades on a Recognized Exchange; and ii) there are derivatives listed on a Recognized Exchange on that Underlying Interest.

SECTION C-1504 INELIGIBILITY CRITERIA FOR SHARE FUTURES

No new series of Canadian Share Futures which is already listed may be opened for trading if any one of the conditions described in Section B-604 or B-606, as applicable, with applicable adaptations, occurs with respect to the Underlying Interest

SECTION C-1505 PROCEDURE FOR ASSESSING THE EFFECT OF STOCK LIST CHANGES ON SHARE FUTURES ELIGIBILITY

1) Acquisition of a Listed Company by a Newly-Established Company

If a newly-established entity has acquired a listed company, the trading record and history of the predecessor entity may be used to test the Share Futures eligibility of the stock of the new entity as provided for in Section C-1503.

2) Name Changes

Corporate name changes have no effect on listed issues Share Futures eligibility. All statistics and history prior to the entity name change continue to apply to the Underlying Interest under the new corporate name.

3) Substitutional Listings

When a Stock list change which is the result of a merger or acquisition involving the issuance or acquisition of listed shares has occurred, all listed issues connected with the change are reviewed by the Corporation. No decision to change the Share Futures status of a listed issue will occur until after the offer or transaction is completed. The general process which applies is as follows:

i) it is confirmed by the Corporation that each of the predecessor companies is listed on a Recognized Exchange; or ii) on receipt of the notice of corporate change or following the closing date of a share purchase offer, it is confirmed by the Corporation that at least one predecessor company has Share Futures currently listed on the Bourse de Montréal Inc., and these Share Futures are not at or past the date where no new series may be listed if they are classified as delistable by the Corporation.

b) It is confirmed by the Corporation that the resultant company is listed on a Recognized Exchange.

(4) New Shares

If new shares are created for the purpose of completing a merger or acquisition involving the issuance or acquisition of listed shares, the relationship between the old and new shares will determine if the new shares will be treated either as a substitutional, original or supplementary listing by the Corporation. Generally if the new issue is the only common issue of the company, then the new issue will be treated as a substitutional issue. Otherwise the issue will be treated as an original or supplementary issue by the Corporation.

SECTION C-1506 WITHDRAWAL OF APPROVAL OF UNDERLYING INTEREST

Whenever the Corporation determines that an Underlying Interest, for any reason, should no longer be approved, the Corporation shall advise the Exchange that the Corporation will no longer accept trades in such Class of Futures (other than closing transactions) or in any additional Series of Futures of the Class of Futures covering that Underlying Interest.

SECTION C-1507 UNAVAILABILITY OR INACCURACY OF CURRENT VALUE

1) If the Corporation shall determine that the Final Settlement Price for any series of Share Futures is unreported or otherwise unavailable for purposes of calculating the gains and losses, then, in addition to any other actions that the Corporation may be entitled to take under the Rules, the Corporation may do any or all of the following:

a) suspend the Settlement of Gains and Losses. At such times as the Corporation determines that the required Final Settlement Price is available, the Corporation shall fix a new date for Settlement of the Gains and Losses.

b) fix the Final Settlement Price in accordance with the best information available as to the correct Final Settlement Price.

2) The Final Settlement Price as reported by the Exchange shall be conclusively deemed to be accurate except that where the Corporation determines in its sole discretion that there is a material inaccuracy in the reported Final Settlement Price, it may take such action as it determines in its discretion to be fair and appropriate in the circumstances. Without limiting the generality of the foregoing, the Corporation may require an amended Final Settlement Price to be used for settlement purposes.

Section C-1508 through Section C-1511 inclusive apply to Canadian Share Futures:

SECTION C-1508 GOOD DELIVERABLE FORM OF STOCKS, EXCHANGE-TRADED FUND OR TRUST UNITS

A sStock, exchange-traded fund or trust unit held at CDS shall be deemed to be in good deliverable form for the purposes hereof only if the delivery of such sStock, exchange-traded fund or trust unit would constitute good delivery under the regulations, rules and policies of the Exchange.

SECTION C-1509 DELIVERY THROUGH THE CENTRAL SECURITIES DEPOSITORY

1) Day of Delivery – Physical delivery of the Underlying Interest as required by this Rule shall be made in accordance with the delivery procedure of CDS following the Maturity Date, or on a day as otherwise determined by the Corporation.

SECTION C-1510 ASSIGNMENT OF SHARE FUTURES CONTRACTS

All long Share Futures contract positions will receive delivery in accordance with the Corporation's procedures from accounts with open Short Positions in the Series of Futures involved. The Corporation shall treat the accounts of all Clearing Members equally.

Section C-1511 through C-1513 inclusive apply to Foreign Share Futures:

SECTION C-1511 SETTLEMENT IN CASH THROUGH THE CORPORATION

Unless otherwise specified by the Corporation, settlement of positions held following the close of trading on the last day of trading in a Series of Futures shall be made on the first Business Day following the last day of trading. Settlement shall be made by an exchange of cash between the Corporation and each of the short and long Clearing Members. The amount to be paid or received in final settlement of

a) each position opened prior to the last trading day is the difference between

i) the Final Settlement Price; and ii) the Settlement Price of the contract on the business day before the last trading day, multiplied by the Unit of Trading using the current foreign currency rate as specified in the product specifications, and

b) each position opened on the last trading day is the difference between

i) the Final Settlement Price; and ii) the Trade Price of the open contract, multiplied by the Unit of Trading using the current foreign currency rate as specified in the product specifications.

SECTION C-1512 TENDER NOTICES

Rule C-5 shall not apply to Foreign Share Futures as they are cash-settled.

SECTION C-1513 PAYMENT AND RECEIPT OF PAYMENT OF THE TRADE PRICE

The settlement value of maturing contract will be included with other settlements on the daily Detailed Futures Consolidated Activity Report and Futures Sub-Accounts Consolidated Activity Report.

SECTION C-1514 ACCELERATION OF EXPIRATION DATE

When a Share Futures contract, where the Underlying Interest is an equity stock, exchange-traded fund or trust unit, is adjusted pursuant to Rule A-9 – Adjustment In Contract Terms, to require the delivery upon settlement of a fixed amount of Cash, the Maturity Date of the Share Futures contract will ordinarily be accelerated to fall on or shortly after the date on which the conversion of the Underlying Interest to a right to receive Cash occurs.

The Maturity Date of the closest month of the Share Futures contract will remain unchanged. All Share Futures contracts set to expire after this date will have their Maturity Date accelerated to the nearest practical date following the adjustment.

The fixed amount of Cash will be delivered according to CDCC’s payment process.

[…]

PART B – OPTIONS

RULE B-l CLEARING OF EXCHANGE TRANSACTIONS IN OPTIONS

[…]

RULE B-6 SECURITIES OPTIONS

SECTION B-601 DEFINITIONS

Notwithstanding Section A-102, the following definitions shall apply to Rule B-6:

“American Exchange” – means a national securities exchange as defined in the Securities Exchange Act of 1934, as amended from time to time.

“American ATS” – means an alternative trading system, as defined by the U.S. Securities and Exchange Commission in its Rules, as amended from time to time.

“ATS” – means Canadian ATS and American ATS.

“Canadian ATS” – means an alternative trading system, as defined in Regulation 21-101 respecting Marketplace Operation, as amended from time to time.

“Canadian Exchange” – means a recognized exchange as defined in Regulation 21-101 respecting Marketplace Operation, as amended from time to time.

“ETF” – means an exchange-traded funds, the Securities of which are listed on a Canadian Exchange.

“Securities Option” – means an American Style Option or a European Style Option for which the Underlying Interest is a class of shares or a class of units.

“Security” – means a share or a unit.

“Share” – means an instrument of title issued by a corporation or an ETF which is an open-end investment company.

“Underlying Interest” – means Securities meeting the criteria described in this Rule.

“Unit” – means an instrument of title issued by a trust or by an ETF which is a trust.

“Unit of Trading” – means 100 shares of the Underlying Interest, unless otherwise indicated.

SECTION B-602 APPROVAL OF UNDERLYING INTEREST

1) The Securities underlying the Securities Options issued by the Corporation shall be approved by the Corporation based on criteria described in Section B-603 or B-605 of the Rules.

SECTION B-603 CRITERIA FOR ELIGIBILITY OF SECURITIES UNDERLYING OPTIONS

a) the Security is listed on a Canadian Exchange;

SECTION B-604 INELIGIBILITY CRITERIA OF SECURITIES UNDERLYING OPTIONS

a) the Security is no longer listed on a Canadian Exchange;

SECTION B-605 CRITERIA FOR THE ELIGIBILITY OF ETF SECURITIES AS UNDERLYING INTERESTS OF OPTIONS

a) the Securities issued are listed on a Canadian Exchange;

b) the Value of Available Public Float is equal to or greater the CAN$20 million;

c) the Securities issued may be created or repurchased upon request every Business Day by the ETF for an amount based on the net asset value; and

d) the documentation is deemed satisfactory by the Corporation.

2) The ETF Securities eligible as Underlying Interests of Options pursuant to Subsection (1) are not subject to the ineligibility criteria set forth in Section B-604.

SECTION B-606 CRITERIA FOR THE INELIGIBILITY OF ETF SECURITIES AS UNDERLYING INTERESTS OF OPTIONS

No new series of a Class of ETF Securities listed on an Exchange under Section B-605 shall be eligible for trading if any one of the following events occurs in respect of the Underlying Interest:

a) the Security is no longer listed on a Canadian Exchange;

b) the Securities cease to be created or repurchased upon request every Business Day; or

c) the documentation is deemed unacceptable by the Corporation.

SECTION B-607 EVENT RELATING TO UNDERLYING INTERESTS OF SECURITIES OPTIONS

1) Acquisition of a Listed Entity by a Newly-Established Entity

2) Name Changes

3) Substitutional Listings

c) It is confirmed by the Corporation that the resultant company is listed on a Canadian Exchange.

d) It is confirmed by the Corporation that the resultant company exceeds the criteria set out in Paragraph B-604(1)(b) of the Rules.

4) New Securities

[…]

CANADIAN DERIVATIVES CLEARING CORPORATION

PART C – FUTURES

RULE C-1 CLEARING OF EXCHANGE TRANSACTIONS RESPECTING FUTURES

[…]

RULE C-15 SHARE FUTURES

The Sections of this Rule C-15 are applicable only for Futures settling on a future date where the Underlying Interest is an individual stock, exchange-traded fund or trust unit.

SECTION C-1501 DEFINITIONS

“Canadian Share Futures” – A Futures contract that requires the parties to this contract to make or receive delivery of a specified number of Canadian underlying interests at the expiry of the contract at a price agreed upon when the contract was entered into on the Exchange.

“Canadian Underlying Interest” – An individual stock, exchange-traded fund or trust unit issued by a Canadian reporting issuer listed on a recognized exchange as defined in Regulation 21-101 respecting Marketplace Operation, as amended from time to time.

“Delivery” – physical delivery made in accordance with the delivery procedure of CDS following the Maturity Date, or on a day as otherwise determined by the Corporation.

“Final Settlement Price” – the price of the Underlying Interest as determined by the product specifications of the Bourse de Montréal Inc.

“Last Trading Date” – the Maturity Date.

“Maturity Date” – the Final Settlement Date as defined by the Bourse de Montréal Inc. from time to time.

“Recognized Exchange” – a recognized exchange according to the definition in Rule One of Bourse de Montréal Inc. as amended from time to time.

“Settlement Price” – the official daily closing price of a Futures, as determined in accordance with Section C-301.

“Underlying Interest” – stocks, exchange-traded funds or trust units meeting the criteria described in this Rule.

“Unit of Trading” – 100 shares of the Underlying Interest, unless otherwise designated.

SECTION C-1502 APPROVAL OF UNDERLYING INTEREST

1) The stocks, exchange-traded funds or trust units underlying the Futures issued by the Corporation shall be approved based on criteria described in Section C-1503 of the Rules.

SECTION C-1503 CRITERIA FOR ELIGIBILITY OF SHARE FUTURES

In considering whether any stock, exchange-traded fund or trust unit should be approved as the Underlying Interest of a Share Futures, the Corporation, in those circumstances where C-1505 does not apply, shall ensure that prior to being approved as an Underlying Interest the stock, exchange-traded fund or trust unit meets all of the following criteria:

1) For a Canadian Share Futures, the Canadian Underlying Interest will meet the Options eligibility criteria described in Section B-603 or B-605, as applicable.

2) For a Foreign Share Futures, the stock, exchange-traded fund or trust unit:

i) trades on a Recognized Exchange; and ii) there are derivatives listed on a Recognized Exchange on that Underlying Interest.

SECTION C-1504 INELIGIBILITY CRITERIA FOR SHARE FUTURES

SECTION C-1505 PROCEDURE FOR ASSESSING THE EFFECT OF STOCK LIST CHANGES ON SHARE FUTURES ELIGIBILITY

1) Acquisition of a Listed Company by a Newly-Established Company

2) Name Changes

3) Substitutional Listings

b) It is confirmed by the Corporation that the resultant company is listed on a Recognized Exchange.

(4) New Shares

SECTION C-1506 WITHDRAWAL OF APPROVAL OF UNDERLYING INTEREST

SECTION C-1507 UNAVAILABILITY OR INACCURACY OF CURRENT VALUE

b) fix the Final Settlement Price in accordance with the best information available as to the correct Final Settlement Price.

Section C-1508 through Section C-1511 inclusive apply to Canadian Share Futures:

SECTION C-1508 GOOD DELIVERABLE FORM OF STOCKS, EXCHANGE-TRADED FUND OR TRUST UNITS

A stock, exchange-traded fund or trust unit held at CDS shall be deemed to be in good deliverable form for the purposes hereof only if the delivery of such stock, exchange-traded fund or trust unit would constitute good delivery under the regulations, rules and policies of the Exchange.

SECTION C-1509 DELIVERY THROUGH THE CENTRAL SECURITIES DEPOSITORY

SECTION C-1510 ASSIGNMENT OF SHARE FUTURES CONTRACTS

Section C-1511 through C-1513 inclusive apply to Foreign Share Futures:

SECTION C-1511 SETTLEMENT IN CASH THROUGH THE CORPORATION

a) each position opened prior to the last trading day is the difference between

b) each position opened on the last trading day is the difference between

i) the Final Settlement Price; and ii) the Trade Price of the open contract, multiplied by the Unit of Trading using the current foreign currency rate as specified in the product specifications.

SECTION C-1512 TENDER NOTICES

Rule C-5 shall not apply to Foreign Share Futures as they are cash-settled.

SECTION C-1513 PAYMENT AND RECEIPT OF PAYMENT OF THE TRADE PRICE

The settlement value of maturing contract will be included with other settlements on the daily Detailed Futures Consolidated Activity Report and Futures Sub-Accounts Consolidated Activity Report.

SECTION C-1514 ACCELERATION OF EXPIRATION DATE

The fixed amount of Cash will be delivered according to CDCC’s payment process.

[…]

Index

Bank of Nova Scotia Comdben, Casey Order – s. 6.1 of NI 62-104 Take-Over Bids and Notice of Hearing – s. 127(8) ...... 1454 Issuer Bids ...... 1480 Notice from the Office of the Secretary ...... 1456 Notice from the Office of the Secretary ...... 1457 Biosenta Inc. Temporary Order – ss. 127(1), 127(5) ...... 1494 Cease Trading Order ...... 1505 Cook, Lance Sandford BNY Mellon Asset Management North America Notice from the Office of the Secretary ...... 1455 Corporation Order – ss. 127(1), 127(10) ...... 1493 Name Change ...... 1605 Decision and Reasons – ss. 127(1), 127(10) ...... 1497

Bristol Gate Capital Partners Inc. Dominion Citrus Limited Decision ...... 1473 Order ...... 1479

Bristol Gate Concentrated Canadian Equity ETF Fidelity (Canada) Investment Management ULC Decision ...... 1473 Name Change ...... 1605

Bristol Gate Concentrated U.S. Equity ETF Fidelity Management & Research (Canada) ULC Decision ...... 1473 Name Change ...... 1605

Canadian Pacific Railway Limited First Asset Resource Fund Inc. Order – s. 6.1 of NI 62-104 Take-Over Bids and Order ...... 1495 Issuer Bids ...... 1487 Franklin Templeton Investments Corp. CBM Canada’s Best Mortgage Corp. Decision ...... 1459 Notice from the Office of the Secretary ...... 1455 Order – ss. 127(1), 127(10) ...... 1493 FT Balanced Growth Pool Decision and Reasons – ss. 127(1), 127(10) ...... 1497 Decision ...... 1459

CDCC FT Balanced Income Pool Clearing Agencies – Amendments to the Rules of Decision ...... 1459 the Canadian Derivatives Clearing Corporation to Expand Share Futures Contracts to Exchange FT Growth Pool Traded Funds and Trust Units – OSC Staff Decision ...... 1459 Notice of Request for Comment ...... 1608 Insight Investment International Limited Cheng, Benedict Name Change ...... 1605 Notice from the Office of the Secretary ...... 1455 Notice from the Office of the Secretary ...... 1456 J. Priest Investment Management Inc. Order ...... 1486 Change in Registration Category ...... 1605 Reasons for Decision on Motion Regarding Confidentiality ...... 1503 Katanga Mining Limited Cease Trading Order ...... 1505 Chickalo, Tawlia Notice of Hearing – s. 127(8) ...... 1453 Landucci, Rinaldo Notice from the Office of the Secretary ...... 1457 Notice of Hearing – s. 127(8) ...... 1453 Notice from the Office of the Secretary ...... 1457 CMC Markets Canada Inc. Decision ...... 1461 Maxheleau, Elise Notice of Hearing – s. 127(8) ...... 1453 CMC Markets UK Plc Notice from the Office of the Secretary ...... 1457 Decision ...... 1461 MD Financial Management Inc. Decision ...... 1468

February 22, 2018 (2018), 41 OSCB 1609

Index

Mellon Capital Management Corporation Wing, Dennis Name Change ...... 1605 Notice from the Office of the Secretary ...... 1458 Order ...... 1496 National Bank of Canada Order – s. 6.1 of NI 62-104 Take-Over Bids and Issuer Bids ...... 1487

Natural Bee Works Apiaries Inc. Notice of Hearing – s. 127(8) ...... 1453 Notice from the Office of the Secretary ...... 1457

Pareto Investment Management Limited Name Change ...... 1605

Parker, Eleanor Notice of Hearing – s. 127(8) ...... 1454 Notice from the Office of the Secretary ...... 1456 Notice from the Office of the Secretary ...... 1457 Temporary Order – ss. 127(1), 127(5) ...... 1494

Performance Sports Group Ltd. Cease Trading Order ...... 1505

Rothstein, John David Notice from the Office of the Secretary ...... 1455 Notice from the Office of the Secretary ...... 1456 Order ...... 1486 Reasons for Decision on Motion Regarding Confidentiality ...... 1503

Soave, Frank Notice from the Office of the Secretary ...... 1455 Notice from the Office of the Secretary ...... 1456 Order ...... 1486 Reasons for Decision on Motion Regarding Confidentiality ...... 1503

Terra Cotta Investment Counsel Inc. New Registration ...... 1605

Tremblay, Eric Notice from the Office of the Secretary ...... 1455 Notice from the Office of the Secretary ...... 1456 Order ...... 1486 Reasons for Decision on Motion Regarding Confidentiality ...... 1503

TSX Inc. Marketplaces – Introduction of Contra Mid-Point Only (CMO) Order Type – Notice of Approval ...... 1607

USI Tech Limited Notice of Hearing – s. 127(8) ...... 1454 Notice from the Office of the Secretary ...... 1456 Notice from the Office of the Secretary ...... 1457 Temporary Order – ss. 127(1), 127(5) ...... 1494

West Fraser Timber Co. Ltd. Order – s. 6.1 of NI 62-104 Take-Over Bids and Issuer Bids ...... 1480

February 22, 2018 (2018), 41 OSCB 1610