Common use of UNDERWRITING PERCENTAGES Clause in Contracts

UNDERWRITING PERCENTAGES. The obligation of the Underwriters to purchase or arrange for Substituted Purchasers of the Offered Units and the Pre-Emptive Units at the Closing Time and the Additional Units at the Over-Allotment Closing Time shall be several (but not joint) and shall be limited to the percentages of the aggregate number of Offered Units and Pre-Emptive Units and of Additional Units set forth opposite the name of the Underwriters below: BMO Nxxxxxx Bxxxx Inc. 40.0 % GMP Securities Ltd. 20.0 % Hxxxxxx Securities Inc. 12.5 % National Bank Financial Inc. 10.0 % Canaccord Capital Corporation 7.5 % Salman Partners Inc. 5.0 % Sprott Securities Inc. 5.0 % 100 % In the event that any Underwriter shall fail to purchase its applicable percentage of the Offered Units and Pre-Emptive Units at the Closing Time or of the Additional Units at the Over-Allotment Closing Time, the others shall have the right, but shall not be obligated, to purchase all of the percentage of the Offered Units and Pre-Emptive Units or the Additional Units which would otherwise have been purchased by that one of the Underwriters which is in default. In the event that such right is not exercised, the Underwriters which are not in default shall be relieved of all obligations to the Company and there shall be no further liability on the part of such Underwriters to the Company. Nothing in this section shall oblige the Company to sell to the Underwriters less than all of the Offered Units and Pre-Emptive Units or relieve from liability to the Company any Underwriter which shall be so in default. In the event of a termination by the Company of its obligations under this Agreement under this subsection, there shall be no further liability on the part of the Company to the Underwriters except in respect of any liability which may have arisen or may thereafter arise under Sections 13, 14 and 16.

UNDERWRITING PERCENTAGES. 7.1 The obligation obligations of the Underwriters hereunder, including the obligation to purchase or arrange for Substituted Purchasers of the Offered Units and the Pre-Emptive Units Shares at the Time of Closing or Underwriters' Option Time and of Closing, as the Additional Units at the Over-Allotment Closing Time case may be, shall be several (but several, and not joint) , and shall be limited as regards to each Underwriter to the percentages of the aggregate number of Offered Units and Pre-Emptive Units and of Additional Units set forth out opposite the name of the Underwriters below: BMO Nxxxxxx Bxxxx Canaccord Genuity 50% Xxxxxxxx Capital Inc. 40.0 % GMP Securities Ltd. 20.0 % Hxxxxxx Securities Inc. 12.5 % National Bank Financial Inc. 10.0 % Canaccord Capital Corporation 7.5 % Salman Partners Inc. 5.0 % Sprott Securities Inc. 5.0 % 100 % 50% 7.2 In the event that any either Underwriter shall fail to purchase its applicable percentage of the Offered Units and Pre-Emptive Units Shares or Additional Shares, if applicable, as provided in section 7.1 at the Time of Closing or Underwriters’ Option Time or of Closing, as the Additional Units at the Over-Allotment Closing Timecase may be, the others non- defaulting Underwriter shall have the right, but shall not be obligated, to purchase some or all of the percentage of the Offered Units and Pre-Emptive Units or the Additional Units Shares which would otherwise have been purchased by that one of the Underwriters Underwriter which is in default. In default (the event that such Offered Shares in respect of which the defaulting Underwriter fails to purchase and the non-defaulting Underwriter does not elect to purchase being called the “Default Securities”), then the Corporation shall have the right is not exercised, to either: (i) proceed with the Underwriters which are not in default shall be relieved sale of all obligations the Offered Shares (less the Default Securities) to the Company and there shall be no further non-defaulting Underwriter, or (ii) terminate its obligations hereunder without liability on the part of such Underwriters to the Companynon-defaulting Underwriter except under sections 6.6 and 10. Nothing in this section 7.2 shall oblige the Company Corporation to sell to the Underwriters any Underwriter less than all of the Offered Units and Pre-Emptive Units Shares or relieve from liability to the Company Corporation any Underwriter which shall be so in default. In the event of a termination by the Company of its obligations under this Agreement under this subsection, there shall be no further liability on the part of the Company to the Underwriters except in respect of any liability which may have arisen or may thereafter arise under Sections 13, 14 and 16.

UNDERWRITING PERCENTAGES. (a) The obligation of the Underwriters to purchase or arrange for Substituted Purchasers of the Offered Units Initial Shares and the Preany Over-Emptive Units Allotment Shares at the Closing Time and on the Additional Units at the Over-Allotment Closing Time Date shall be several (but several, and not joint) , nor joint and several, and shall be limited as to the percentages of the aggregate number of Offered Units and Pre-Emptive Units and of Additional Units set forth opposite the name of the Underwriters belowfollowing percentages: BMO Nxxxxxx Bxxxx Inc. 40.0 % GMP Securities Ltd. 20.0 L.P. 65 % Hxxxxxx Securities CIBC World Markets Inc. 12.5 % National Bank Financial Inc. 10.0 % Canaccord Capital Corporation 7.5 % Salman Partners Inc. 5.0 % Sprott Securities Inc. 5.0 35 % 100 % % (b) In the event that any Underwriter shall fail to purchase its applicable percentage of the Offered Units and Pre-Emptive Units Initial Shares (the “Defaulted Securities”) at the Closing Time or of the Additional Units at the Over-Allotment Closing Time, the others other Underwriter shall have the right, within 36 hours thereafter, to make arrangements, to purchase all, but not less than all, of the Defaulted Securities, in such amounts as may be agreed upon and upon the terms set forth herein. If, however, the Underwriters shall have not completed such arrangements within such 36 hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Initial Shares to be purchased hereunder, the non-defaulting Underwriter shall be obligated, to purchase the full amount thereof in the proportions that their respective underwriting obligations hereunder bear to the underwriting obligation of all non-defaulting Underwriter, or (ii) if the number of Defaulted Securities exceeds 10% of the percentage number of the Offered Units and Pre-Emptive Units or the Additional Units which would otherwise have been Initial Shares to be purchased by that one of the Underwriters which is in default. In the event that on such right is not exerciseddate, the Underwriters which are not in default this Agreement shall be relieved of all obligations to the Company and there shall be no further terminate without liability on the part of such Underwriters any non-defaulting Underwriter. (c) No action taken pursuant to this Section 17 shall relieve any defaulting Underwriter from liability in respect of its default to the Company. Nothing in this section shall oblige the Company Corporation or to sell to the Underwriters less than all of the Offered Units and Preany non-Emptive Units or relieve from liability to the Company any Underwriter which shall be so in default. defaulting Underwriter. (d) In the event of any such default which does not result in a termination by of this Agreement, either the Company of its obligations under this Agreement under this subsection, there Underwriters or the Corporation shall be no further liability on have the part of right to postpone the Company Closing Time for a period not exceeding seven (7) calendar days in order to effect any required changes to the Underwriters except in respect of any liability which may have arisen or may thereafter arise under Sections 13, 14 and 16Offering Documents.

UNDERWRITING PERCENTAGES. 7.1 The obligation obligations of the Underwriters hereunder, including the obligation to purchase or arrange for Substituted Purchasers of the Offered Units and the Pre-Emptive Units Shares at the Time of Closing Time and the Additional Units at the or Over-Allotment Closing Option Time of Closing, as the case may be, shall be several (but several, and not joint) , and shall be limited as regards to each Underwriter to the percentages of the aggregate number of Offered Units and Pre-Emptive Units and of Additional Units set forth out opposite the name of the Underwriters below: BMO Nxxxxxx Bxxxx Inc. 40.0 % GMP Securities Ltd. 20.0 % Hxxxxxx Securities Inc. 12.5 % National Bank Financial Inc. 10.0 Dundee 55 % Canaccord Capital Corporation 7.5 35 % Salman Partners Inc. 5.0 % Sprott Securities Inc. 5.0 % 100 % XXXX 10 % 7.2 In the event that any either Underwriter shall fail to purchase its applicable percentage of the Offered Units and Pre-Emptive Units Shares or Additional Shares, if applicable, as provided in section 7.1 at the Time of Closing Time or of the Additional Units at the Over-Allotment Closing TimeOption Time of Closing, as the case may be, the others non- defaulting Underwriter shall have the right, but shall not be obligated, to purchase some or all of the percentage of the Offered Units and Pre-Emptive Units or the Additional Units Shares which would otherwise have been purchased by that one of the Underwriters Underwriter which is in default. In default (the event that such Offered Shares in respect of which the defaulting Underwriter fails to purchase and the non-defaulting Underwriter does not elect to purchase being called the “Default Securities”), then the Corporation shall have the right is not exercised, to either: (i) proceed with the Underwriters which are not in default shall be relieved sale of all obligations the Offered Shares (less the Default Securities) to the Company and there shall be no further non-defaulting Underwriter, or (ii) terminate its obligations hereunder without liability on the part of such Underwriters to the Companynon-defaulting Underwriter except under sections 6.2 and 10. Nothing in this section 7.2 shall oblige the Company Corporation to sell to the Underwriters any Underwriter less than all of the Offered Units and Pre-Emptive Units Shares or relieve from liability to the Company Corporation any Underwriter which shall be so in default. In the event of a termination by the Company of its obligations under this Agreement under this subsection, there shall be no further liability on the part of the Company to the Underwriters except in respect of any liability which may have arisen or may thereafter arise under Sections 13, 14 and 16.

UNDERWRITING PERCENTAGES. (a) The obligation of the Underwriters to purchase or arrange for Substituted Purchasers of the Offered Units and the Pre-Emptive Units at the Closing Time and on the Additional Units at the Over-Allotment Closing Time Date shall be several (but several, and not joint) , nor joint and several, and shall be limited as to the percentages of the aggregate number of Offered Units and Pre-Emptive Units and of Additional Units set forth opposite the name of the Underwriters belowfollowing percentages: BMO Nxxxxxx Bxxxx Inc. 40.0 % GMP Securities Ltd. 20.0 L.P. 30 % Hxxxxxx BMO Xxxxxxx Xxxxx Inc. 30 % CIBC World Markets Inc. 20 % Cormark Securities Inc. 12.5 10 % National Bank Financial Inc. 10.0 % Canaccord Capital Corporation 7.5 % Salman Partners Inc. 5.0 % Sprott Dundee Securities Inc. 5.0 Ltd. 10 % 100 % % (b) In the event that any Underwriter shall fail to purchase its applicable percentage of the Offered Units and Pre-Emptive Units (the “Defaulted Securities”) at the Closing Time or of the Additional Units at the Over-Allotment Closing Time, the others other Underwriters shall have the right, but shall not be obligatedwithin 36 hours thereafter, to make arrangements, to purchase all all, but not less than all, of the percentage of Defaulted Securities, in such amounts as may be agreed upon and upon the Offered Units and Pre-Emptive Units or the Additional Units which would otherwise have been purchased by that one of the Underwriters which is in defaultterms set forth herein. In the event that such right is not exercisedIf, however, the Underwriters which are shall have not in default completed such arrangements within such 36 hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Units to be purchased hereunder, the non-defaulting Underwriter shall be relieved obligated to purchase the full amount thereof in the proportions that their respective underwriting obligations hereunder bear to the underwriting obligation of all obligations non-defaulting Underwrites, or (ii) if the number of Defaulted Securities exceeds 10% of the number of Units to the Company and there be purchased on such date, this Agreement shall be no further terminate without liability on the part of such Underwriters any non-defaulting Underwriter. (c) No action taken pursuant to this Section 13 shall relieve any defaulting Underwriter from liability in respect of its default to the Company. Nothing in this section shall oblige the Company Issuer or to sell to the Underwriters less than all of the Offered Units and Preany non-Emptive Units or relieve from liability to the Company any Underwriter which shall be so in default. defaulting Underwriter. (d) In the event of any such default which does not result in a termination by of this Agreement, either the Company of its obligations under this Agreement under this subsection, there Underwriters or the Issuer shall be no further liability on have the part of right to postpone the Company Closing Time for a period not exceeding seven (7) calendar days in order to effect any required changes to the Underwriters except in respect of any liability which may have arisen or may thereafter arise under Sections 13, 14 and 16Offering Memorandum.

UNDERWRITING PERCENTAGES. (a) The obligation of the Underwriters to purchase or arrange for Substituted Purchasers of the Offered Units Initial Shares and the Preany Over-Emptive Units Allotment Shares at the Closing Time and on the Additional Units at the Over-Allotment Closing Time Date shall be several (but several, and not joint) , nor joint and several, and shall be limited as to the percentages of the aggregate number of Offered Units and Pre-Emptive Units and of Additional Units set forth opposite the name of the Underwriters belowfollowing percentages: BMO Nxxxxxx Bxxxx Inc. 40.0 % GMP Securities Ltd. 20.0 L.P. 50 % Hxxxxxx Securities CIBC World Markets Inc. 12.5 % National Bank Financial Inc. 10.0 % Canaccord Capital Corporation 7.5 % Salman Partners Inc. 5.0 % Sprott Securities Inc. 5.0 50 % 100 % % (b) In the event that any Underwriter shall fail to purchase its applicable percentage of the Offered Units and Pre-Emptive Units Initial Shares (the “Defaulted Securities”) at the Closing Time or of the Additional Units at the Over-Allotment Closing Time, the others other Underwriter shall have the right, within 36 hours thereafter, to make arrangements, to purchase all, but not less than all, of the Defaulted Securities, in such amounts as may be agreed upon and upon the terms set forth herein. If, however, the Underwriters shall have not completed such arrangements within such 36 hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Initial Shares to be purchased hereunder, the non-defaulting Underwriter shall be obligated, to purchase the full amount thereof in the proportions that their respective underwriting obligations hereunder bear to the underwriting obligation of all non-defaulting Underwriter, or (ii) if the number of Defaulted Securities exceeds 10% of the percentage number of the Offered Units and Pre-Emptive Units or the Additional Units which would otherwise have been Initial Shares to be purchased by that one of the Underwriters which is in default. In the event that on such right is not exerciseddate, the Underwriters which are not in default this Agreement shall be relieved of all obligations to the Company and there shall be no further terminate without liability on the part of such Underwriters any non-defaulting Underwriter. (c) No action taken pursuant to this Section 17 shall relieve any defaulting Underwriter from liability in respect of its default to the Company. Nothing in this section shall oblige the Company Corporation or to sell to the Underwriters less than all of the Offered Units and Preany non-Emptive Units or relieve from liability to the Company any Underwriter which shall be so in default. defaulting Underwriter. (d) In the event of any such default which does not result in a termination by of this Agreement, either the Company of its obligations under this Agreement under this subsection, there Underwriters or the Corporation shall be no further liability on have the part of right to postpone the Company Closing Time for a period not exceeding seven (7) calendar days in order to effect any required changes to the Underwriters except in respect of any liability which may have arisen or may thereafter arise under Sections 13, 14 and 16Offering Documents.

UNDERWRITING PERCENTAGES. 7.1 The obligation obligations of the Underwriters hereunder, including the obligation to purchase or arrange for Substituted Purchasers of the Offered Units Shares and the Pre-Emptive Units at the Closing Time and the Additional Units at if the Over-Allotment Closing Time allotment Option is exercised, any obligation to purchase Additional Shares shall be several (but several, and not joint) , and shall be limited to the percentages of the aggregate number percentage of Offered Units the Shares and Pre-Emptive Units and of Additional Units Shares set forth out opposite the name of the Underwriters below: Scotia Capital Inc. 32.5 % BMO Nxxxxxx Bxxxx Xxxxxxx Xxxxx Inc. 40.0 32.5 % GMP Securities Ltd. 20.0 % Hxxxxxx Securities Inc. 12.5 % National Bank Financial CIBC World Markets Inc. 10.0 % Canaccord Capital Corporation X.X. Xxxxxx Securities LLC 7.5 % Salman Partners Inc. Xxxxxxx Xxxx & Company, LLC 5.0 % Sprott Desjardins Securities Inc. 5.0 % 100 Xxxxxxx Xxxxx Canada Inc. 5.0 % Xxxxxxxx Capital Inc. 2.5 % 7.2 In the event that any Underwriter shall fail to purchase its applicable percentage of the Offered Units and Pre-Emptive Units Shares or Additional Shares, if applicable, at the Closing Time or of the Additional Units at the Over-Allotment Closing Time, the others shall have the right, but shall not be obligated, to purchase all of the percentage of the Offered Units Shares and Pre-Emptive Units or the Additional Units Shares, if applicable, which would otherwise have been purchased by that one of the Underwriters which is in default; the Underwriters exercising such right shall purchase such Shares and Additional Shares, if applicable, pro rata to their respective percentages aforesaid or in such other proportions as they may otherwise agree. In the event that such right is not exercised, the Underwriters others which are not in default shall be relieved of all obligations to the Company Corporation arising from such default and there with respect to the Offering and shall be no further liability on the part of such Underwriters entitled to the Companyterminate their obligations under this Agreement. Nothing in this section shall oblige the Company Corporation to sell to the Underwriters less than all of the Offered Units and Pre-Emptive Units Shares or relieve from liability to the Company Corporation any Underwriter which shall be so in default. In the event of a termination by the Company of its obligations under this Agreement under this subsection, there shall be no further liability on the part of the Company to the Underwriters except in respect of any liability which may have arisen or may thereafter arise under Sections 13, 14 and 16.

UNDERWRITING PERCENTAGES. 7.1 The obligation obligations of the Underwriters hereunder, including the obligation to purchase or arrange for Substituted Purchasers of the Offered Units and the Pre-Emptive Units Shares at the Time of Closing Time and the Additional Units at the or Over-Allotment Closing Option Time of Closing, as the case may be, shall be several (but several, and not joint) , and shall be limited as regards to each Underwriter to the percentages of the aggregate number of Offered Units and Pre-Emptive Units and of Additional Units set forth out opposite the name of the Underwriters below: BMO Nxxxxxx Bxxxx Inc. 40.0 % GMP Securities Ltd. 20.0 % Hxxxxxx Securities Inc. 12.5 Dundee1 45% National Bank Financial Inc. 10.0 22.5% Canaccord Capital Corporation 7.5 Rxxxxxx Jxxxx Ltd. 22.5% Salman Partners Inc. 5.0 % Sprott Securities Inc. 5.0 % 100 % PI Financial Corp. 10% 7.2 In the event that any Underwriter shall fail to purchase its applicable percentage of the Offered Units and Pre-Emptive Units Shares or Additional Shares, if applicable, as provided in section 7.1 at the Time of Closing Time or of the Additional Units at the Over-Allotment Closing TimeOption Time of Closing, as the case may be, the others non- defaulting Underwriters shall have the right, but shall not be obligated, to purchase some or all of the percentage of the Offered Units and Pre-Emptive Units or the Additional Units Shares which would otherwise have been purchased by that one of the Underwriters Underwriter which is in default. In default (the event that such Offered Shares in respect of which the defaulting Underwriter fails to purchase and the non-defaulting Underwriters do not elect to purchase being called the “Default Securities”), then the Corporation shall have the right is not exercised, to either: (i) proceed with the Underwriters which are not in default shall be relieved sale of all obligations the Offered Shares (less the Default Securities) to the Company and there shall be no further non-defaulting Underwriters, or (ii) terminate its obligations hereunder without liability on the part of such Underwriters to the Companynon-defaulting Underwriters except under sections 6.2 and 10. Nothing in this section 7.2 shall oblige the Company Corporation to sell to the Underwriters any Underwriter less than all of the Offered Units and Pre-Emptive Units Shares or relieve from liability to the Company Corporation any Underwriter which shall be so in default. In the event _________________________________________________ 1 A step-up fee of a termination by the Company of its obligations under this Agreement under this subsection, there shall be no further liability on the part of the Company 5.0% is payable to the Underwriters except in respect of any liability which may have arisen or may thereafter arise under Sections 13, 14 and 16.Dundee

UNDERWRITING PERCENTAGES. (a) The obligation of the Underwriters to purchase or arrange for Substituted Purchasers of the Offered Units and the Pre-Emptive Units Shares at the Closing Time and on the Additional Units at the Over-Allotment Closing Time Date shall be several (but several, and not joint) , nor joint and several, and shall be limited as to the percentages of the aggregate number of Offered Units and Pre-Emptive Units and of Additional Units set forth opposite the name of the Underwriters belowfollowing percentages: BMO Nxxxxxx Bxxxx Inc. 40.0 % GMP Securities Ltd. 20.0 % Hxxxxxx Dundee Securities Inc. 12.5 70% National Bank Financial Inc. 10.0 % Canaccord Capital Corporation 7.5 % Salman Partners Inc. 5.0 % Sprott Clarus Securities Inc. 5.0 15% 100 % Jacob & Co. 15% (b) In the event that any Underwriter shall fail to purchase its applicable percentage of the Offered Units and Pre-Emptive Units Shares (the "Defaulted Securities") at the Closing Time or of the Additional Units at the Over-Allotment Closing Time, the others Underwriters shall have the right, within 36 hours thereafter, to make arrangements for one or more of the non­defaulting Underwriters, or any other underwriters, to purchase all, but not less than all, of the Defaulted Securities, in such amounts as may be agreed upon and upon the terms set forth herein. If, however, the Underwriters shall . have not completed such arrangements within such 36 hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Shares to be purchased hereunder, the non-defaulting Underwriters shall be obligated, each several, and not jointly, nor jointly and several, to purchase the full amount thereof in the proportions that their respective underwriting obligations hereunder bear to the underwriting obligation of all non-defaulting Underwriters, or (ii) if the number of Defaulted Securities exceeds 10% of the percentage number of the Offered Units and Pre-Emptive Units or the Additional Units which would otherwise have been Shares to be purchased by that one of the Underwriters which is in default. In the event that on such right is not exerciseddate, the Underwriters which are not in default this Agreement shall be relieved of all obligations to the Company and there shall be no further terminate without liability on the part of such Underwriters any non-defaulting Underwriter. (c) No action taken pursuant to this Section 12 shall relieve any defaulting Underwriter from iability in respect of its default to the Company. Nothing in this section shall oblige the Company Corporation or to sell to the Underwriters less than all of the Offered Units and Preany non-Emptive Units or relieve from liability to the Company any Underwriter which shall be so in default. defaulting Underwriter. (d) In the event of any such default which does not result in a termination by of this Agreement, either the Company of its obligations under this Agreement under this subsection, there Underwriters or the Corporation shall be no further liability on have the part of right to postpone the Company Closing Time for a period not exceeding seven (7) calendar days in order to effect any required changes to the Underwriters except in respect of any liability which may have arisen or may thereafter arise under Sections 13, 14 and 16offering documents.