Common use of Resale Restrictions and Legends Clause in Contracts

Resale Restrictions and Legends. (ALL The Securities will be subject to a four month hold period that starts to PURCHASERS) run on Closing. The Purchaser acknowledges that the certificates representing the Securities will bear the following legends: "UNLESS PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THE SECURITIES SHALL NOT TRADE THE SECURITIES BEFORE [date that is four months and a day after the Closing.]." "Without prior written approval of the TSX Venture Exchange and compliance with all applicable securities legislation, the securities presented by this certificate may not be sold, transferred, hypothecated or otherwise traded on or through the facilities of the TSX Venture Exchange or otherwise in Canada or to or for the benefit of a Canadian resident until [insert the date following the fourth month after the distribution]." Purchasers are advised to consult with their own legal counsel or advisors to determine the resale restrictions that may be applicable to them. CLOSING DATE The closing of the Offering (the "Closing") will take place in one or more Closings, at the discretion of the Issuer. The Closing will take place within 5 days after approval by the TSX Venture Exchange, unless otherwise agreed between the Issuer and the Purchaser. ADDITIONAL DEFINITIONS In the Subscription Agreement, the following words have the following meanings unless otherwise indicated:

Resale Restrictions and Legends. (ALL PURCHASERS) The Securities will be subject to a four month hold period that starts to PURCHASERS) run on Closing. The Purchaser acknowledges that the certificates representing the Securities will bear the following legends: "UNLESS PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THE SECURITIES SHALL NOT TRADE THE SECURITIES BEFORE [date that is four months and a day after the Closing.]." "Without prior written approval of the TSX Venture Exchange and compliance with all applicable securities legislation, the securities presented by this certificate may not be sold, transferred, hypothecated or otherwise traded on or through the facilities of the TSX Venture Exchange or otherwise in Canada or to or for the benefit of a Canadian resident until [insert the date following the fourth month after the distribution]." Purchasers are advised to consult with their own legal counsel or advisors to determine the resale restrictions that may be applicable to them. CLOSING DATE The closing of the Offering (the "Closing") will take place in one or more Closings, at the discretion of the Issuer. The Closing will take place within 5 days after approval by the TSX Venture Exchange, unless otherwise agreed between the Issuer and the Purchaser. ADDITIONAL DEFINITIONS In the Subscription Agreement, the following words have the following meanings unless otherwise indicated: