1. First Canadian Capital Markets Ltd. is a limited market dealer in the Province of Ontario and will act as an intermediary on behalf of institutions, high net worth individuals and other persons or entities who so qualify under the applicable requirements of the securities laws of the Province of Ontario relating to limited market dealers.
   
   It is the policy, as well as the duty of First Canadian Capital Markets Ltd. to deal fairly, honestly and in good faith with its customers and clients. It is also the policy of First Canadian Capital Markets Ltd. with respect to securities of our related issuers to decide on a security by security basis whether there is any reason why we should limit the range of services which we provide to our customers and clients. As to the related issuers listed below, we do not restrict the range of our services.
    
2.  In the course of our activities, First Canadian Capital Markets Ltd. may from time to time trade in respect of securities in corporations, general partnerships, limited partnerships, trusts or other forms of issuers which may be considered to be related issuers to First Canadian Capital Markets Ltd. within the meaning of the securities laws of the Province of Ontario. If First Canadian Capital Markets Ltd. does trade or act as an agent or underwriter for the purchase or sale of securities of related issuers, it will provide full disclosure of said relationships in writing to purchasers of such securities and comply with all requirements of the securities laws of the Province of Ontario.
    
3. There are currently no related issuers of First Canadian Capital Markets Ltd. that are reporting issuers under the securities laws of the Province of Ontario or that have distributed securities outside Ontario on a basis that, had they done so in Ontario, would have made them reporting issuers, other than the following:
    
   1. Each of Jason C. Monaco and Nikolaos S. Tsimidis, a director, officer and shareholder of First Canadian Capital Markets Ltd., is also a director and officer of The Endurance Fund Corporation (TSXV: END.P), of which approximately 24.0% of the common shares are owned, collectively, by Jason C. Monaco, 854338 Ontario Ltd. (a corporation owned by Elio Monaco), Daniel S. Boase (also a director, officer and shareholder of First Canadian Capital Markets Ltd.) and Nikolaos S. Tsimidis;
       
   2. Each of Jason C. Monaco, Nikolaos S. Tsimidis and Daniel S. Boase, a director, officer and shareholder of First Canadian Capital Markets Ltd., is also a director (and, in the case of Nikolaos S. Tsimidis, an officer) of DVD Investments Limited (TSXV (NEX): DVD.H), of which approximately 20.0% of the common shares are beneficially owned by First Canadian Capital Markets Ltd. and 1435213 Ontario Limited (a corporation owned by Nikolaos S. Tsimidis); and
       
   3. Jason C. Monaco is a director, officer and shareholder, and Daniel S. Boase is managing partner, of First Canadian Capital Corp., a company providing corporate communication and related services to the following issuers: (a) Luzon Minerals Inc. (TSXV: LZN); (b) Benton Resources Corp. (TSXV: BTC); (c) NSP Pharma Corp. (TSXV: NSP); (d) Osisko Exploration Ltd. (TSXV: OSK); (e) Cadillac Mining Corp. (TSXV: CQX); (f) Geodex Minerals Ltd. (TSXV: GXM); (g) Luiri Gold Limited (TSXV: LGL); and (h) Western Troy Capital Resources Inc. (TSXV: WRY).
       
4. The securities laws of the Province of Ontario require securities dealers and advisors, when they trade in or advise with respect to their own securities or securities of certain other issuers to which they, or certain other parties related to them, are related or connected, to do so only in accordance with particular disclosure and other rules. These rules require dealers and advisors, prior to trading with or advising their customers or clients, to inform them of the relevant relationships and connections with the issuer of the securities. Clients and customers should refer to the applicable provisions of these securities laws for the particulars of these rules and their rights or consult with a legal adviser.

The foregoing Statement of Policies is provided as a requirement pursuant to Section 223(1) of the Regulation under the Securities Act (Ontario).