Exhibit 10.38
ASSET PURCHASE AGREEMENT
(ROLL-OVER)
THIS AGREEMENT is made effective as of the ____ day of April, 2000.
BETWEEN:
WORLDWIDE FIBER (F.O.T.S.) NO. 3, LTD.
(the "Vendor")
- and -
WFI URBANLINK LTD.
(the "Purchaser")
WHEREAS:
A. The Vendor is a subsidiary of 360.
B. 360 and the Purchaser are parties to the Definitive Agreement, pursuant to
which 360 has agreed to cause the Vendor to transfer the Assets to the
Purchaser.
C. The Vendor wishes to transfer the Assets to the Purchaser, and the
Purchaser wishes to acquire the Assets from the Vendor, all as at the Effective
Date for a total purchase price equal to the aggregate fair market value of the
Assets, on the terms and conditions and subject to the representations and
warranties set forth in this Agreement.
IN CONSIDERATION OF the foregoing premises and of the mutual covenants herein
contained the parties agree as follows:
ARTICLE 1
INCORPORATION OF RECITALS
AND SCHEDULES AND DEFINITIONS
1.1 The Recitals and all Schedules annexed to this Agreement are expressly
incorporated into, and form an integral part of, this Agreement.
ARTICLE 2
DEFINITIONS
2.1 In this Agreement:
(a) "360" means 360networks inc.
(b) "Act" means the Income Tax Act (Canada), as it read on the Effective
Date;
(c) "Adjusted Cost Base" means the aggregate cost amount of the Assets
determined by the Vendor in accordance with the provisions of the Act,
where "cost amount" is as defined in subsection 248(1) of the Act;
(d) "Adjusted Elected Amount" means the amount that, for tax purposes, is
to be the Vendor's "proceeds of disposition" and the Purchaser's "cost
of acquisition" of the Assets, determined in accordance with section
6.3 to be a greater or lesser amount than the Elected Amount;
(e) "Adjusted Fair Market Value" means the aggregate of the fair market
value of the Assets, determined in accordance with section 5.4 to be a
greater or lesser amount than the Elected Fair Market Value;
(f) "Articles" means the articles of incorporation of the Purchaser
together with all amendments thereto as registered with the Registrar
of Corporations for the Province of Alberta as at the Effective Date;
(g) "Assets" has that meaning as set forth in Schedule "A" hereto;
(h) "Closing Date" means the Effective Date;
(i) "Definitive Agreement" means the Urbanlink Reorganization Definitive
Agreement relating to the Urbanlink Reorganization dated the same date
as this Agreement and made between 360, Worldwide Fiber Holdings Ltd.,
the Purchaser and Urbanlink Equipment Ltd.;
(j) "Effective Date" means the date of this Agreement;
(k) "Elected Amount" means the amount agreed upon by the parties in
accordance with section 6.2 hereof which, for tax purposes, is to be
the Vendor's "proceeds of disposition" and the Purchaser's "cost of
acquisition" of the Assets;
(l) "Elected Fair Market Value" means the aggregate fair market value of
the Assets as determined by the parties and reflected in the Election;
(m) "Election" means the election made by the parties in prescribed form
and within the time prescribed by subsection 85(6) of the Act that the
rules set forth in subsection 85(1) of the Act shall apply to the
purchase and sale of the Assets;
(n) "Fair Market Value" means the fair market value of the Assets
determined as the Effective Date, which shall be equal to either the
Elected Fair Market Value or the Adjusted Fair Market Value, as
finally determined in accordance with either section 5.3 or section
5.4 hereof, as the case may be;
(o) "Redemption Amount" means the amount per share payable on the
redemption of the shares forming the Share Consideration, which amount
shall be equal to the
-2-
Fair Market Value divided by the number of shares forming the Share
Consideration;
(p) "Revised Adjusted Cost Base" means the adjusted cost base of the
Assets determined in accordance with section 6.3 to be greater or
lesser amounts than the Adjusted Cost Base;
(q) "Schedules" means any schedules which are attached to this Agreement;
(r) "Share Consideration" means the number and class of shares of the
capital of the Purchaser having attached thereto only those rights,
privileges, restrictions and limitations set forth in the Articles,
which shares are more particularly described in Schedule "B";
(s) "Stated Capital Addition" means the aggregate stated capital for the
shares constituting the Share Consideration that is to be added to the
stated capital account maintained for such shares, which shall be
equal to the Fair Market Value; and
(t) "Taxing Authority" means the Minister of National Revenue for Canada
or any other competent authority having jurisdiction that is
authorized by law to issue an assessment or reassessment in respect of
the transactions herein contemplated.
ARTICLE 3
PURCHASE AND SALE
3.1 Subject to the terms and conditions, and based upon the representations and
warranties, contained in this Agreement, the Vendor shall sell, transfer and
assign and the Purchaser shall purchase as of the Effective Date all of the
Vendor's interest in the Assets.
ARTICLE 4
EFFECTIVE DATE
4.1 It is acknowledged and agreed to by the parties that the purchase and sale
of the Assets is deemed to have occurred as of the Effective Date.
ARTICLE 5
PURCHASE PRICE
5.1 The total purchase price for the Assets is equal to the Fair Market Value
and shall be paid and satisfied by the Purchaser issuing to the Vendor the Share
Consideration.
5.2 The Purchaser shall add the Stated Capital Addition to the stated capital
account being maintained for the class of shares of which the Share
Consideration forms a part.
5.3 Subject to section 5.4, the parties have determined that the fair market
value of the Assets is equal to the Elected Fair Market Value, which
determination is final and binding upon the parties.
-3-
5.4 If:
(a) the Taxing Authority at any time proposes to issue, or does issue, any
assessment or reassessments that impose, or would impose, any
liability for tax of any nature or kind on either of the parties on
the basis that the aggregate of the fair market value of the Assets at
the Effective Date is a greater or lesser amount than the Elected Fair
Market Value; and
(b) the parties agree, or a Court or tribunal of competent jurisdiction
finally adjudges, that the aggregate of the fair market value of the
Assets as of the Effective Date is the Adjusted Fair Market Value;
then:
(c) the Fair Market Value shall be deemed to have always been, and the
Fair Market Value wherever referred to in this Agreement shall be read
as meaning, the Adjusted Fair Market Value.
5.5 If not all of the shares forming the Share Consideration have been redeemed
or purchased by the Purchaser on or prior to the date of determination of the
Adjusted Fair Market Value of the Assets, then the Redemption Amount for each of
the shares forming the Share Consideration which are still outstanding at that
time, shall be adjusted in accordance with section 5.7 hereof.
5.6 If the Purchaser has repurchased or redeemed all of the shares forming the
Share Consideration at or before the time that the Adjusted Fair Market Value is
determined, then:
(a) where the aggregate of the amounts previously paid by the Purchaser on
the repurchase of the Share Consideration exceeds the Adjusted Fair
Market Value, the excess shall be a debt payable to the Purchaser by
the Vendor, on demand, without interest except in the event of default
whereupon interest shall accrue on the principal amount in default at
the rate of 2% per annum above the prime lending rate established from
time to time by the Vancouver main branch of the Purchaser's bank,
calculated from the date of default until the date payment is made;
and
(b) where the aggregate of the amounts previously paid by the Purchaser on
the repurchase of the Share Consideration is less than the Adjusted
Fair Market Value, the loss shall be a debt payable to the Vendor by
the Purchaser, on demand, without interest except in the event of
default whereupon interest shall accrue on the principal amount in
default at the rate of 2% per annum above the prime lending rate
established from time to time by the Vancouver main branch of the
Vendor's bank, calculated from the date of default until the date
payment is made.
5.7 If, because of the operation of section 5.4, the Fair Market Value is
determined at the Effective Date to be equal to the Adjusted Fair Market Value,
then the Redemption Amount shall be adjusted NUNC PRO TUNC to reflect an amount
equal to the Adjusted Fair Market Value, and all necessary adjustments, payments
and repayments, if any, as may be required by virtue of such
-4-
adjustment, shall forthwith be made between the Purchaser and the Vendor in
accordance with the provisions of section 5.6, MUTATIS MUTANDIS.
ARTICLE 6
JOINT ELECTION AND ELECTED AMOUNTS
6.1 The Vendor and Purchaser shall jointly make the Election.
6.2 Subject to the provisions of this Agreement, for purposes of the Election
the parties agree that the Elected Amount shall be the Adjusted Cost Base
of the Assets, which determination is final and binding on the parties.
6.3 If:
(a) the Taxing Authority proposes to issue, or does issue, any assessment
or reassessments that impose, or would impose, any liability for tax
of any nature or kind on either of the parties on the basis that the
adjusted cost base of the Assets is the Revised Adjusted Cost Base;
(b) the parties agree, or a Court or tribunal of competent jurisdiction
finally adjudges, that the adjusted cost base of the Assets is the
Revised Adjusted Cost Base; and
(c) the Taxing Authority will accept as effective an amended Election of
the parties;
then:
(d) the Adjusted Cost Base shall be deemed to have always been, and the
Adjusted Cost Base wherever referred to in this Agreement, shall be
read as meaning the Revised Adjusted Cost Base;
(e) the Elected Amount shall be deemed to have always been, and the
Elected Amount wherever referred to in this Agreement shall be read as
meaning, an amount equal to the Adjusted Elected Amount; and
(f) the parties shall take all such steps and jointly execute all such
documents and elections as may be required and allowed so that the
aggregate of the amounts elected for purposes of subsection 85(1) of
the Act with respect to the purchase and sale of the Assets shall be
equal to the Adjusted Elected Amount.
ARTICLE 7
VENDOR'S REPRESENTATIONS AND WARRANTIES
7.1 The Vendor represents and warrants to the Purchaser that:
(a) on the Closing Date the Assets shall be beneficially owned by the
Vendor free and clear of all restrictions, options, liens, charges and
encumbrances, whatsoever;
-5-
(b) no person, firm or corporation has any written or verbal agreement,
option, understanding or commitment or any right or privilege capable
of becoming an agreement for the purchase of the Assets from the
Vendor other than as set out in this Agreement;
(c) on the Closing Date the Vendor shall not be a non-resident of Canada
within the meaning of the Act; and
(d) the distances shown on the Schedules are accurate.
7.2 The representations and warranties contained in section 7.1 shall survive
the completion of the purchase and sale of the Assets and shall continue in full
force and effect for the benefit of the Purchaser; provided always that no claim
with respect to the representations and warranties shall be made by the
Purchaser unless written notice shall have been given to the Vendor within two
years from the Closing Date.
ARTICLE 8
PURCHASER'S REPRESENTATIONS AND WARRANTIES
8.1 The Purchaser represents and warrants to the Vendor that:
(a) the Purchaser is a corporation duly incorporated, validly existing and
qualified to carry on business under the laws of the Province of
Alberta;
(b) the authorized capital of the Purchaser consists of an unlimited
number of:
(i) Class "A" Common Voting Shares
(ii) Class "I" Preferred Non-Voting Shares, authorized to be issued in
series, which series shares are designated as follows:
(A) Class "I" Series 1 Preferred Non-Voting Shares;
(B) Class "I" Series 2 Preferred Non-Voting Shares;
(C) Class "I" Series 3 Preferred Non-Voting Shares;
(D) Class "I" Series 4 Preferred Non-Voting Shares;
(E) Class "I" Series 5 Preferred Non-Voting Shares;
(F) Class "I" Series 6 Preferred Non-Voting Shares;
(G) Class "I" Series 7 Preferred Non-Voting Shares;
(H) Class "I" Series 8 Preferred Non-Voting Shares;
(I) Class "I" Series 9 Preferred Non-Voting Shares;
-6-
(J) Class "I" Series 10 Preferred Non-Voting Shares;
(K) Class "I" Series 11 Preferred Non-Voting Shares;
(L) Class "I" Series 12 Preferred Non-Voting Shares;
(M) Class "I" Series 13 Preferred Non-Voting Shares;
(N) Class "I" Series 14 Preferred Non-Voting Shares;
(O) Class "I" Series 15 Preferred Non-Voting Shares;
having attached thereto only those rights, privileges, restrictions
and conditions set forth in the Articles;
(c) the issuance to the Vendor of the Share Consideration is valid and in
accordance with the laws of the Province of Alberta; and
(d) this Agreement constitutes a valid and binding obligation of the
Purchaser and the transactions contemplated by this Agreement are not
in violation of any terms and conditions of the Articles or any
agreement to which the Purchaser is a party or by which the Purchaser
is bound.
8.2 The representations and warranties contained in section 8.1 shall survive
the completion of the purchase and sale of the Assets and shall continue in full
force and effect for the benefit of the Vendor; provided always that no claim
with respect to the representations and warranties shall be made by the Vendor
unless written notice shall have been given to the Purchaser within two years
from the Closing Date.
ARTICLE 9
CLOSING, BENEFICIAL OWNERSHIP AND POSSESSION
9.1 Upon or prior to the Closing Date, or so soon thereafter as the parties
agree upon:
(a) the Vendor shall do all things necessary to transfer to the Purchaser
the Assets;
(b) the Purchaser shall:
(i) issue and deliver to the Vendor the Share Consideration; and
(ii) at the request of the Vendor, deliver to the Vendor a copy of the
resolution of the board of directors of the Purchaser adding the
Stated Capital Addition to the stated capital account maintained
for the shares forming the Share Consideration, certified by the
secretary of the Purchaser as a true and exact copy, where
required by the Vendor.
9.2 If the requisite conveyances necessary to transfer ownership of the Assets
in the name of the Purchaser or its nominee have not been completed on the
Closing Date the Vendor agrees that, until such time as the Assets shall be
transferred into the name of the Purchaser or its
-7-
nominee, the Vendor shall stand as owner of the Assets as bare trustee for and
on behalf of the Purchaser as the beneficial owner, and in such capacity the
Vendor shall:
(a) receive on behalf of, account to and forthwith pay over to the
Purchaser, any and all amounts received by the Vendor as the owner of
the Assets; and
(b) transfer and deal with the Assets in such manner as the Purchaser may
direct.
The Purchaser shall at all times hereafter indemnify and keep indemnified the
Vendor against all liabilities that the Vendor may incur by reason of the Assets
being in the name of the Vendor.
ARTICLE 10
FURTHER ACTS AND ASSURANCES
10.1 Each of the parties shall, upon the reasonable request of the other party,
make, do, execute or cause to be made, done, or executed all such further and
other lawful acts, deeds, things, documents and assurances of whatsoever nature
and kind for the better performance of the terms and conditions of this
Agreement. Without limiting the generality of the foregoing, the Vendor shall
use all commercially reasonable efforts to make, do, execute or cause to be
made, done, or executed all such further and lawful acts, deeds, things,
documents and assurances as may be necessary to document the sublicence referred
to in the description of the Assets on Schedule "A", to obtain any required
consents from the grantors of rights-of-way and, where possible, to obtain
non-disturbance agreements from the grantors of rights-of-way.
ARTICLE 11
NOTICES
11.1 Any notice, direction or other instrument required or permitted to be given
under the provisions of this Agreement shall be in writing and either delivered
personally, sent by prepaid registered mail or sent by facsimile to the party to
be notified. The addresses of the parties for such purpose shall respectively
be:
(a) to the Vendor at its registered office address; and
(b) to the Purchaser at its registered office address;
or to such other address in Canada of which either party may from time to time
notify the other.
11.2 Any notice, direction or other instrument shall:
(a) if delivered, be deemed to have been given or received on the day on
which it was so delivered and if not on a business day then on the
business day next following the day of delivery;
(b) if sent by facsimile shall be deemed to have been given or received on
the same business day as it was sent, provided facsimile confirmation
of receipt is received by the sender;
-8-
(c) if mailed, shall be deemed to have been given or received on the third
day following the day on which it was mailed; and
(d) if mailed at a time when there is an interruption or an anticipated
interruption of mail service affecting the delivery of such mail,
shall be deemed to have been given or received on the fifth business
day after the date that normal postal service is restored.
ARTICLE 12
ENTIRE AGREEMENT
12.1 This Agreement, together with the Definitive Agreement and the documents
referred to in the Definitive Agreement constitutes and contains the entire
agreement between the parties respecting the subject matter of this Agreement
and supersedes any prior agreements whether written or verbal.
ARTICLE 13
ENUREMENT
13.1 This Agreement shall enure to the benefit of and be binding upon the
parties and their respective successors, personal representatives and assigns.
ARTICLE 14
COUNTERPARTS
14.1 This Agreement may be executed in counterparts with the same effect as if
all of the parties hereto had signed the same document. All counterparts shall
be construed together and shall constitute one and the same agreement. A
facsimile transmitted copy of this Agreement signed by a party, in counterpart
or otherwise, shall be deemed to be evidence of a properly executed, delivered
and binding agreement of the party so signing, notwithstanding any variation on
the actual dates of execution. The parties each agree to promptly return an
original duly executed counterpart of this Agreement following the transmission
of the facsimile transcribed copy thereof.
[THE NEXT PAGE IS THE EXECUTION PAGE.]
-9-
IN WITNESS WHEREOF the parties have properly executed this Agreement, as of the
Effective Date.
WORLDWIDE FIBER (F.O.T.S.) NO. 3, LTD.
PER:
------------------------------
WFI URBANLINK LTD.
PER:
------------------------------
-10-
SCHEDULE "A"
------------
TO THAT CERTAIN ASSET PURCHASE AGREEMENT (ROLL-OVER)
MADE BETWEEN WORLDWIDE FIBER (F.O.T.S.) NO. 3, LTD.
(AS VENDOR) AND WFI URBANLINK LTD.
(AS PURCHASER)
----------------------------------------------------
ASSETS
------
1. ASSETS
"Assets" means the Strands located in Canada that are more particularly
described in Exhibit A-1, together with associated Communication Shelters and
Co-Location Facilities, Support Structures Interests and ROW Rights, as
described below.
2. DEFINITIONS
For the purposes of this Schedule "A", except as otherwise expressly defined
below, capitalized terms shall have the meanings provided for in the Agreement
to which this Schedule "A" is attached:
"Bundle" means a grouping of 12 continuously running Strands in the buffer tube
within which such Strands are enclosed, in the Fiber Optic Cable.
"Communications Shelters and Co-Location Facilities" means the communications
shelters and co-location facilities associated with the Strands described in
Exhibit A-1, and which are being purchased by Purchaser as part of the Assets,
and which are more particularly described in Exhibit A-2.
"Fiber Optic Cable" means one or more Bundles of Strands of which certain of the
Assets form a part.
"Initial Term" means, with respect to a particular segment described on Exhibit
A-1, the time period expiring on the expiry of the Underlying Rights for such
segment.
"Rights" means the ROW Rights and Shelter Licenses granted by the Vendor to
Purchaser under this Agreement.
"ROW Rights" means a non-exclusive right to use and enjoy the Underlying Rights,
in common with all others having such rights, with respect to Strands forming
part of the Assets and with respect to Communications Shelters located on the
Underlying Rights granted by way of a sublicense, an indefeasible right to use
or other subright (subject in all respects to the terms of the applicable
Underlying Rights).
"Shelter License" has the meaning ascribed thereto in Section 5 of this
Schedule "A".
-11-
"Strand" or "strand" means a strand of optical fibre.
"Support Structures" means the infrastructure necessary to support the
operations of the Fiber Optic Cables including, without limitation, cable
sheathing (jacket, tubing, core wrap) and all associated conduit, troughing,
pedestals, slack containers, Utilities Shelters, connections between the
Utilities Shelters and Communications Shelters and between the Fiber Optic Cable
and the Communications Shelters and related equipment, but excluding the
Communications Shelters.
"Support Structures Agreement" means the agreement that will be entered into by
the Vendor and the Purchaser and all other owners of Strands (and, potentially,
those with other rights therein) in the Fiber Optic Cable.
"Support Structures Interests" has the meaning ascribed thereto in Section 4 of
this Schedule "A".
"Underlying Rights" means all easements, licenses of occupation, rights-of-way
or other similar rights held, owned or acquired or to be held, owned or
acquired, by the Vendor with respect to the land, structures, bridges, tunnels
or buildings through which the Fiber Optic Cable or any of them passes and upon
which certain of the Communications Shelters and Co-Location Facilities may be
located; and "Right-of-Way" means one of the Rights-of-Way.
"Utilities Shelters" means the utilities shelters that are part of the Support
Structures.
3. ASSETS INCLUDE ROW RIGHTS
(a) The Assets include the grant by the Vendor to the Purchaser with
respect to the ROW Rights required for the use, operation and
maintenance of the Assets and Support Structures during the Initial
Term of a sublicense of the ROW Rights to be granted pursuant to a
sublicense agreement to be executed and delivered as described in
Section 10.1 of the Agreement (the "Sublicense Agreement").
(b) The purchase price referred to in Article 5 of the Agreement shall be
inclusive of all consideration payable for applicable Underlying
Rights for the Initial Term. Notwithstanding anything to the contrary
contained herein, the terms of the sublicensing of ROW Rights shall be
subject to the terms of such Sublicense Agreement and any Rights
granted to Purchaser pursuant to the Sublicense Agreement in
accordance herewith shall be subject in all respects to the terms of
applicable laws and of the Underlying Rights including, without
limitation, any requirements for the consent of the grantor to such
grant and any limitations on the rights granted.
(c) The terms of the grant of ROW Rights shall be included in a separate
sublicense from the Vendor to the Purchaser to be executed and
delivered as described in Section 10.1 of the Agreement.
-12-
4. INTEREST IN SUPPORT STRUCTURES
The Assets include the grant by the Vendor to the Purchaser, for no additional
consideration, of an undivided interest in all Support Structures related
thereto (including, for greater clarity, related Utilities Shelters) equal to
its proportionate share in the total Strands from time to time making up the
applicable segment of the Fiber Optic Cable(s) that will be shared with others
(such undivided interest shall be referred to as the "Support Structures
Interests"). The Purchaser acknowledges that the Support Structures will be
owned by all owners of Strands permitted by the Rights-of-Way and may be used by
such owners or others granted rights in the strands.
5. COMMUNICATIONS SHELTERS AND CO-LOCATION FACILITIES
The Assets include the Communications Shelters and Co-Location Facilities, but
not any interest in the land upon which such Communication Shelters and
Co-Location Facilities are located. Where Exhibit A-1 indicates that the Assets
include a communications shelter, then the Assets include all right, title and
interest of the Vendor in and to such communications shelter. Where Exhibit A-1
indicates that the Assets include co-location facilities, the Assets include the
grant by the Vendor to the Purchaser of non-exclusive licences of occupation in
respect of such co-location facilities, to be included in a co-location
agreement in a form acceptable to the Purchaser and the Vendor, acting
reasonably and in good faith.
The Assets include the grant by the Vendor to the Purchaser of non-exclusive
licenses of occupation in a form acceptable to the Purchaser and the Vendor,
acting reasonably and in good faith (a "Shelter License") in respect of each
Communications Shelter and Co-Location Facility that is not located on one of
the Underlying Rights, for the Initial Term, pursuant to Shelter License
agreements to be executed and delivered as described in this Section 5, and such
Shelter Licenses shall entitle Purchaser (at no cost to Purchaser during the
Initial Term) to keep such Communications Shelters at the location supplied and
(at Purchaser's cost) to maintain, repair and improve any equipment or materials
in such Communications Shelters and to have exclusive access to the interior of
the Communications Shelters.
-13-
SCHEDULE A-1
BANDWIDTH STRANDS
------------------------------------------------------------------------------------------------------------------
TUBE STRAND STRAND
SEGMENTS ROW KILOMETER DUCT COLOUR COLOUR NUMBER TYPE
------------------------------------------------------------------------------------------------------------------
From Calgary to Xxxxxxx XX 1,443 Orange Xxxxx 41-42 SMF-28
From CP Tracks at Cambie St. CP 1,032 Orange Xxxxx 41-42 SMF-28
Vancouver to Calgary
From 000 Xxxxxxxxxx Xxx. to CP CP 3 Orange Xxxxx 41-42 SMF-28
Tracks at Cambie St.
Oak Street Bridge to 301 CN 11 Orange Xxxxx 00-00 XXX-00
Xxxxxxxxxx, Xxxxxxxxx
XX Border to Victoria to Oak CN 84 Orange Xxxxx 00-00 XXX-00
Xxxxxx Xxxxxx
Xxxxxxxx XX tracks to Edmonton CN 11 Orange Xxxxx 41-42 SMF-28
Brettville Junction
Edmonton Bretville Junction to CN 1,958 Orange Xxxxx 00-00 XXX-00
Xxxxxxx Xxx
Xxxxxxx Xxx to Toronto CN 1,402 Orange Xxxxx 41-42 SMF-28
------------------------------------------------------------------------------------------------------------------
-14-
SCHEDULE A-2
COMMUNICATIONS SHELTERS AND CO-LOCATION FACILITIES
----------------------------------------------------------------------------------------------------------------------
RAIL MILE
SITE ADDRESS ROW POINT SHELTER TYPE
----------------------------------------------------------------------------------------------------------------------
Vancouver 000 Xxxx Xxxxxxx Xx. X/X X/X Co-location/ Terminal
Agassiz 0000 Xxxxx Xxxx CP 58.5 Regen Shelter
North Bend CP 0 Line Amp
Basque CP 56.01 Line Amp
Kamloops 00X 0xx Xxx. (Xxxxx St) CP 0 Regen Shelter
Salmon Arm 000 Xxxxxxxxx Xxxxx XX CP 63.17 Line Amp
Revelstoke Track St. East CP 125.6 Regen Shelter
Glacier CP 85.5 Line Amp
Golden Main St CP 34.8 Line Amp
Xxxx Xxxxxx NE 28-28-16 W5M CP 116.44 Regen Shelter
Exshaw Xxxxxxx Xx & Xxx 0X XX 00.00 Xxxx Xxx
Xxxxxxx 000 0xx Xxx XX X/X X/X Co-location/ Terminal
Gleichen 000 Xxxxxxxx Xxx CP 124.9 Line Amp
Xxxxxx 4 Centre St. CP 66.66 Line Amp
Medicine Hat 000 Xxxxx Xxxxxxx Xx. X CP 147 ADM
Maple Creek Pacific Ave. Bwtn Maple & CP 84.49 Line Amp
Xxxxxx
Xxxxxxxxxx Railway Ave. btwn Xxxx & CP 43.39 Line Amp
Xxxxxxxx
Xxxxx Current 0000 Xxxxx Xxxxxxx Xx. X CP 0.83 Regen Shelter
Xxxxxxx 4th Ave bwtn 4th & 6th St CP 53.79 Line Amp
----------------------------------------------------------------------------------------------------------------------
-15-
----------------------------------------------------------------------------------------------------------------------
RAIL MILE
SITE ADDRESS ROW POINT SHELTER TYPE
----------------------------------------------------------------------------------------------------------------------
Moose Jaw 000 Xxxxxxxx Xxxxxx Xxxx CP 0.31 Line Amp
Regina 0000 Xxxxx Xxxxxxx Xx CP 93 ADM
Wolseley 000 Xxxxxx Xxxxxx CP 30.8 Line Amp
Wapella S Railway St btwn 1st & 2nd CP 102.6 Line Amp
Ave
Xxxxxx 406 5th Ave CP 47.24 Regen Shelter
Xxxxxxx 000 Xxxxxxx Xx. Xxxx CP 121.6 Line Amp
Portage la Prairie (South 000 00xx Xx. XX CP 56.36 Line Amp
Route)
Winnipeg Lizzie (South 000 Xxxxxxx Xxx CP 0.35 Shelter Site
Route)
Winnipeg 000 Xxxx Xx. X/X X/X Co-location/ Terminal
Xxxxxxx Roseau St at 6th Ave CP/Illinois Central 63.51 Line Amp
Victoria Line Amp OACD
Xxxxxx 0000 00 Xx. XX 206.2 Line Amp
Xxxxxxxxxx 000 0xx Xx. CN 140.1 Line Amp
Xxxx NW 1/4 24-41-24 W3M CN 68.53 Regen Shelter
Biggar 000 0Xx Xxx. X. CN 0.68 Line Amp
Xxxxxxxxx 000 Xxx. X Xxxxx XX 190.67 ADM
Xxxxxxx 000 0Xx Xxx. CN 129.1 Line Amp
Touchwood Xxxxx Xx 0000, XX 00-00-00 XX 65.74 Line Amp
W2M
Melville 000 0Xx Xxx., Xxxx XX 280.2 Line Amp
Xx. Xxxxxxx 000 Xxxx Xx. XX 204.51 Regen Shelter
Xxxxxxx Xxxxx Xxx #00, XX 0-00-00 XX 128.6 Line Amp
Portage la Prairie (North 000 Xxxxxx Xxx. Xxxx XX 55.19 Line Amp
Route)
----------------------------------------------------------------------------------------------------------------------
-16-
----------------------------------------------------------------------------------------------------------------------
RAIL MILE
SITE ADDRESS ROW POINT SHELTER TYPE
----------------------------------------------------------------------------------------------------------------------
Winnipeg (North Route) 00 Xxxx Xx XX 000.0 Shelter Site
Badger Main St. NW 6-3-12 CN 77.38 Line Amp
Rainy River 000 Xxxxxx Xxx. Xxxx XX 0.23 Line Amp
Rocky Inlet Xxxxxx Xxxxxxxx Ave. CN 81.14 Regen Shelter
Xxxxxxxxx Perch Lake Rd CN 10.65 Line Amp
Kabaigon Kabaigon Bay Rd. CN 75.21 Line Amp
Thunder Bay 202 Waterloo St. CN 3.72 ADM
Red Rock Xxxxx Xx. (Hwy #628) CN 132.2 Line Amp
Xxxxxxxxx Xxxxxxxx St CN 70.28 Line Amp
Longlac 0 Xxxxxx Xxxxx Xx. CN 100.35 Regen Shelter
Hillsport Hillsport Rd CN 42.42 Line Amp
Macduff CN 271.15 Line Amp
Peterbell CN 205.65 Regen Shelter
Foleyet Railway Ave. CN 148.35 Line Amp
Gogama Xxxxxxx St CN 86.7 Line Amp
Xxxxxxxx CN 29.86 Line Amp
Sudbury Junction 0000 Xxxxxxx Xxxx CN 262.02 ADM
----------------------------------------------------------------------------------------------------------------------
-17-
SCHEDULE "B"
------------
TO THAT CERTAIN ASSET PURCHASE AGREEMENT (ROLL-OVER) MADE
BETWEEN WORLDWIDE FIBER (F.O.T.S.) NO. 3, LTD. (AS VENDOR)
AND WFI URBANLINK LTD. (AS PURCHASER)
----------------------------------------------------------
SHARE CONSIDERATION
-------------------
1000 Class "I" Series 3 Preferred Non-Voting Shares of the capital of the
Purchaser, represented by Share Certificate No.1-I (SER-3), having a redemption
price equal to the Fair Market Value of the Assets.
-18-
