<SEC-DOCUMENT>0001199073-17-000397.txt : 20170524
<SEC-HEADER>0001199073-17-000397.hdr.sgml : 20170524
<ACCEPTANCE-DATETIME>20170524135149
ACCESSION NUMBER:		0001199073-17-000397
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170524
FILED AS OF DATE:		20170524
DATE AS OF CHANGE:		20170524

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CALEDONIA MINING CORP
		CENTRAL INDEX KEY:			0000766011
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-13345
		FILM NUMBER:		17866229

	BUSINESS ADDRESS:	
		STREET 1:		1 KING ST WEST
		STREET 2:		SUITE 4009
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5H 1A1
		BUSINESS PHONE:		(44) 1534-702-998

	MAIL ADDRESS:	
		STREET 1:		36 TORONTO ST
		STREET 2:		SUITE 1000
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5C 2C5

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GOLDEN NORTH RESOURCE CORP
		DATE OF NAME CHANGE:	19920302
</SEC-HEADER>
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<TYPE>6-K
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<DESCRIPTION>CALEDONIA MINING CORPORATION PLC 6-K
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<div style="TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">FORM 6-K</div>

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<div style="TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SECURITIES AND EXCHANGE COMMISSION</div>

<div style="TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Washington, DC 20549</div>

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<div style="TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Report of Foreign Private Issuer</div>

<div style="TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Pursuant to Rule 13a-16 or 15d-16</div>

<div style="TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Of the Securities Exchange Act of 1934</div>

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<div style="TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">For the month of&#160;May 2017</div>

<div style="TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Commission File Number: 000-13345</div>

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<div style="TEXT-ALIGN: center; LINE-HEIGHT: 15.95pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 14pt; FONT-WEIGHT: bold">CALEDONIA MINING CORPORATION PLC</div>

<div style="TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(Translation of registrant's name into English)</div>

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<div style="TEXT-ALIGN: center; LINE-HEIGHT: 10.25pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">3rd Floor, Weighbridge House<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><br>
</font>Weighbridge<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><br>
</font>St Helier, Jersey<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><br>
</font> JE2 3NF</div>

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<font style="FONT-WEIGHT: normal">(Address of principal executive offices)</font></div>

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<div style="TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F</div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ______</div>

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<div style="TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.</div>

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<div style="TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Yes ______ <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-SIZE: 1pt">&#160;&#160;</font>No&#160;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>&#160;&#160;&#160;&#160;&#160;&#160; x&#160; &#160;&#160;&#160;&#160;&#160;</u></font></div>

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<div style="TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ______</div>

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</font><font style="FONT-WEIGHT: bold">Signatures</font></div>

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 3pt; FONT-SIZE: 10pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Caledonia Mining Corporation</div>

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(Registrant)</div>

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">By: <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>/s/ Steve Curtis&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </u></font></div>
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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Dated:&#160;May 24, 2017</div>
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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Name: Steve Curtis</div>

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Title: CEO and Director</div>
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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Description</div>
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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><a href="exh99_1.htm#Exhibit99.1">99.1</a></div>
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<div>Letter of Transmittal</div>
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<TYPE>EX-99.1
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<FILENAME>exh99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; MARGIN-TOP: 6pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">The instructions accompanying this Letter of Transmittal should be read carefully before completing this Letter of Transmittal.&#160; Computershare Investor Services Inc. or your broker or other financial advisor will assist you in completing this Letter of Transmittal.</div>

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<div style="TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt; MARGIN-TOP: 6pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CALEDONIA MINING CORPORATION PLC</div>

<div style="TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt; MARGIN-TOP: 6pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">LETTER OF TRANSMITTAL</div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; MARGIN-TOP: 6pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">TO:</font><font style="WIDTH: 36pt; DISPLAY: inline-block; FONT-SIZE: 1px" id="TRGRRTFtoHTMLTab">&#160;</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CALEDONIA MINING CORPORATION PLC ("Caledonia" or the "Corporation")</font></div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; MARGIN-TOP: 6pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">TO:</font><font style="WIDTH: 36pt; DISPLAY: inline-block; FONT-SIZE: 1px" id="TRGRRTFtoHTMLTab">&#160;</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">COMPUTERSHARE INVESTOR SERVICES INC. (the "Transfer Agent" or "Computershare")</font></div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; MARGIN-TOP: 6pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt">Capitalized terms used but not defined in this Letter of Transmittal have the meanings given to such terms in Caledonia&#8217;s management information circular dated May 23, 2017 (the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Circular</font>"). Shareholders should refer to the Circular for particulars of the Share Consolidation Resolutions.&#160; A copy of the Circular is available on SEDAR at <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">www.sedar.com</font> on the Corporation&#8217;s profile.</div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; MARGIN-TOP: 6pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt">The undersigned hereby represents and warrants that: 1) the undersigned is the owner of the number of Common Shares represented by the share certificate(s) or DRS Advice(s) described below and delivered herewith; and 2) the undersigned has good title to the Common Shares represented by the said certificate(s) or DRS Advice(s), free and clear of all liens, charges and encumbrances, and has full power and authority to herewith deposit such Common Shares.</div>

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<div style="MARGIN-LEFT: 9pt">&#160;</div>
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<div style="MARGIN-LEFT: 9pt">&#160;</div>
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<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; WIDTH: 27.39%; VERTICAL-ALIGN: top; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid">
<div style="MARGIN-LEFT: 9pt">&#160;</div>
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<div style="MARGIN-LEFT: 9pt">&#160;</div>
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<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; WIDTH: 45.11%; VERTICAL-ALIGN: top; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid">
<div style="MARGIN-LEFT: 9pt">&#160;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; WIDTH: 27.39%; VERTICAL-ALIGN: top; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid">
<div style="MARGIN-LEFT: 9pt">&#160;</div>
</td>
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</table>

<div style="TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Please print or type particulars. If space is insufficient, attach a list in the above form.</div>

<div style="MARGIN-TOP: 6pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(A)</font><font style="WIDTH: 36pt; DISPLAY: inline-block; FONT-SIZE: 1px" id="TRGRRTFtoHTMLTab">&#160;</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SHAREHOLDERS WITH 100 OR MORE COMMON SHARES.</font>&#160; The above-listed share certificate(s)/DRS Advice(s) is/are hereby surrendered in exchange for a certificate or DRS Advice reflecting the new CUSIP/ISIN number assigned to the Common Shares as a result of implementation of the Share Consolidation Resolutions as fully described in the Circular.&#160; To the extent that a Shareholder would be entitled to a fractional share following the Share Consolidation, no new DRS Advice or share certificate will be issued in respect of that fraction. Instead, the fractional share will be purchased for cash on the basis described in the Circular and payable on surrender of the share certificate(s)/DRS Advice(s).</font></div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; MARGIN-RIGHT: 1.8pt">In respect of the number of post-Share Consolidation Common Shares to which the undersigned is entitled as a consequence of and following the Share Consolidation, the undersigned authorizes and directs Computershare as follows (select only one):</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; MARGIN-RIGHT: 1.8pt">&#160;</div>

<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="zd7948ec4c8aa494e9d612bb43484e5df" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; WIDTH: 5.01%; VERTICAL-ALIGN: top; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid">&#160;</td>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 33.42%; VERTICAL-ALIGN: top; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">To issue a physical share certificate;&#160;&#160; OR</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; WIDTH: 5.01%; VERTICAL-ALIGN: top; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid">&#160;</td>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 56.56%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">To enter such Common Shares into the Direct Registration System</div>

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">(&#8220;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">DRS</font>&#8221;)</div>
</td>
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</table>

<div style="LINE-HEIGHT: 11.4pt; MARGIN-TOP: 6pt"><br style="LINE-HEIGHT: 11.4pt">
</div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; MARGIN-TOP: 6pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">- OR -</div>

<div style="LINE-HEIGHT: 11.4pt; MARGIN-TOP: 6pt"><br style="LINE-HEIGHT: 11.4pt">
</div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; MARGIN-TOP: 6pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(B)</font><font style="WIDTH: 36pt; DISPLAY: inline-block; FONT-SIZE: 1px" id="TRGRRTFtoHTMLTab">&#160;</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SHAREHOLDERS WITH FEWER THAN 100 COMMON SHARES.</font>&#160; The above-listed share certificate(s)/DRS Advice(s) is/are hereby surrendered in order that they may be exchanged for payment equal to that number of pre-consolidation Common Shares which would otherwise result in a fractional Common Share as a result of the Share Consolidation multiplied by an amount equal to the average closing price of the Common Shares on the TSX for the 5 trading days immediately prior to the Effective Time</font></div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; MARGIN-TOP: 6pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(payment for a fraction under (A) or (B) (subject to a minimum value of the payment of &#163;5 (or, as applicable, the equivalent amount calculated by converting such amount at the daily average &#163;/Canadian dollar exchange rate posted by the Bank of Canada for the business day preceding the sale), amounts at or under which will be retained for the benefit of the Company in accordance with the Share Consolidation Resolutions and the articles of association of the Company) being the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Cash Consideration</font>").</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; MARGIN-TOP: 6pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">At the Effective Time, any holder of fewer than 100 Common Shares (whether a Registered Shareholder or a Non-Registered Shareholder) shall cease to have any rights as a shareholder of the Corporation other than the right to be paid the Cash Consideration.&#160; If you hold Common Shares represented by the above-listed share certificate(s)/DRS Advice(s) on behalf of a Non-Registered Shareholder(s) holding fewer than 100 pre-Consolidation Common Shares, please indicate the total number of pre-Consolidation Common Shares so held: ____________________________.</div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; MARGIN-TOP: 6pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Pursuant to the above, the undersigned authorises and directs Computershare to issue and deliver in the case of (A) a DRS Advice or share certificate representing the Common Shares to which the undersigned is entitled and, if applicable, a cheque, representing the Cash Consideration; and in the case of (B) a cheque representing the Cash Consideration to which the undersigned is entitled, in the name and to the address as indicated below or, if no instructions are given, in the name and to the address of the undersigned as appears on the register of Common Shares maintained by Computershare on behalf of Caledonia.</div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; MARGIN-TOP: 6pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Intermediaries will be required to advise Computershare at or prior to <font style="FONT-VARIANT: normal; FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">5.00 p.m. (Eastern Time) on Monday, June 19, 2017 </font>(or such other date as the Board of Directors may, in its sole discretion, determine) (the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Determination Date</font>") of the number of Shareholders for whom they are holding fewer than 100 Common Shares and the number of Common Shares so held for the purposes of determining the number of Non-Registered Shareholders affected by the Share Consolidation Resolutions and the number of Common Shares which will be eliminated pursuant to the Share Consolidation Resolutions.</div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; MARGIN-TOP: 6pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">The undersigned agrees to execute, upon request, any additional documents and other assurances as may be necessary or desirable to carry out the Share Consolidation Resolutions, and acknowledges that all authority herein conferred or agreed to be conferred shall, to the extent permitted by law, survive the death or incapacity, bankruptcy or insolvency of the holder and all obligations of the holder herein shall be binding upon the heirs, personal representatives, successors and assigns of the holder, as the case may be. The undersigned further agrees that all questions as to validity, form, eligibility and acceptance of any Common Shares and/or Letters of Transmittal submitted in connection with the Share Consolidation shall be determined by the Corporation in its sole discretion and that such determination shall be final and binding and acknowledges that there is no duty or obligation upon the Corporation, Computershare or any other person to give notice of any defect or irregularity in any such surrender of Common Shares and no liability will be incurred by any of them for failure to give any such notice.</div>

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</div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Name&#160; <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(please print clearly)</font></div>

<div style="LINE-HEIGHT: 11.4pt">&#160;</div>
</td>
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<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; WIDTH: 100%; VERTICAL-ALIGN: top; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid" colspan="3">
<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Address</div>

<div style="LINE-HEIGHT: 11.4pt">&#160;</div>
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<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; WIDTH: 100%; VERTICAL-ALIGN: top; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid" colspan="3">&#160;</td>
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<tr>
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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">City&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160; Province&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; Postal Code</div>

<div style="LINE-HEIGHT: 11.4pt">&#160;</div>
</td>
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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Telephone (Office)&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160; (Home)</div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(&#160; &#160; &#160; &#160; &#160; )&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160; (&#160; &#160; &#160; &#160; &#160;&#160; )</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; WIDTH: 22.97%; VERTICAL-ALIGN: top; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Social Insurance Number</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; WIDTH: 29.15%; VERTICAL-ALIGN: top; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Tax Identification Number</div>
</td>
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<div style="LINE-HEIGHT: 11.4pt; MARGIN-TOP: 6pt">&#160;</div>

<div style="LINE-HEIGHT: 11.4pt; MARGIN-TOP: 6pt">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="zfd15db6182cb43d2bb54e8c071325357" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 33.33%">
<div>Date: ___________________________ </div>
</td>
<td style="WIDTH: 8.69%">
<div>&#160;</div>
</td>
<td style="WIDTH: 58.33%">
<div style="TEXT-ALIGN: center">______________________________________</div>
</td>
</tr>

<tr>
<td style="WIDTH: 33.33%">
<div>&#160;</div>
</td>
<td style="WIDTH: 8.69%">
<div>&#160;</div>
</td>
<td style="WIDTH: 58.33%">
<div style="TEXT-ALIGN: center">Signature of Shareholder</div>
</td>
</tr>
</table>
</div>

<div style="LINE-HEIGHT: 11.4pt; MARGIN-TOP: 6pt"><br style="LINE-HEIGHT: 11.4pt">
</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
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<div style="LINE-HEIGHT: 13.7pt; MARGIN-BOTTOM: 1pt"><br style="LINE-HEIGHT: 13.7pt">
</div>

<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="z0ba221116d9649a5877cade5c8f2a8ec" cellspacing="0" cellpadding="0">
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<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; WIDTH: 100%; VERTICAL-ALIGN: top; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><br>
</font> STATUS AS U.S. SHAREHOLDER</div>

<div style="TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">TO BE COMPLETED BY ALL SHAREHOLDERS BY SELECTING <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>ONE</u></font> BOX BELOW</div>

<div style="TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">(See Instruction 5)</div>

<div style="LINE-HEIGHT: 11.4pt">&#160;</div>

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">Indicate whether you are a U.S. Shareholder or are acting on behalf of a U.S. Shareholder:</div>

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; TEXT-INDENT: -14.4pt; MARGIN-LEFT: 23.4pt"><font style="FONT-FAMILY: Symbol, serif; FONT-SIZE: 14pt; FONT-WEIGHT: bold">&#127;</font><font style="WIDTH: 14.4pt; DISPLAY: inline-block; FONT-SIZE: 1px" id="TRGRRTFtoHTMLTab">&#160;</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">The person signing above represents that it is not a U.S. Shareholder and is not acting on behalf of a U.S. Shareholder.</font></div>

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; TEXT-INDENT: -14.4pt; MARGIN-LEFT: 23.4pt"><font style="FONT-FAMILY: Symbol, serif; FONT-SIZE: 14pt; FONT-WEIGHT: bold">&#127;</font><font style="WIDTH: 14.4pt; DISPLAY: inline-block; FONT-SIZE: 1px" id="TRGRRTFtoHTMLTab">&#160;</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">The person signing above is a U.S. Shareholder or is acting on behalf of a U.S. Shareholder.</font></div>

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">A &#8220;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">U.S. Shareholder</font>&#8221; is described under Instruction 5.</div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt">To avoid U.S. backup withholding, if you are a U.S. Shareholder or acting on behalf of a U.S. Shareholder, you must duly complete and timely return to the Transfer Agent the enclosed Form W-9 or, in certain circumstances, another withholding tax certificate. You can find more information in Instruction 5, &#8220; U.S. Shareholders&#8221;.</div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
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</table>

<div style="LINE-HEIGHT: 11.4pt; MARGIN-TOP: 6pt"><br style="LINE-HEIGHT: 11.4pt">
</div>

<div style="TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt; MARGIN-TOP: 6pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">INSTRUCTIONS</div>

<div style="TEXT-ALIGN: center; LINE-HEIGHT: 11.4pt; MARGIN-TOP: 6pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div>
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<tr>
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1.</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Use of Letter of Transmittal</div>
</td>
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</div>

<div>&#160;</div>

<div>
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="z37f69f3f11b548bd8498e13a9dd9343b" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 72pt; VERTICAL-ALIGN: top; align: right">
<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">(a)</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Each registered shareholder holding share certificate(s)/DRS Advice(s) of Caledonia must send or deliver this Letter of Transmittal duly completed and signed together with the share certificate(s) or DRS Advice(s) described herein to Computershare at the office listed below.&#160; The method of delivery to Computershare is at the option and risk of the shareholder, but if mail is used, registered mail is recommended.</div>
</td>
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</div>

<div>&#160;</div>

<div>
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="z66d0f61bceba4c488ae3c27bd6218e93" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 72pt; VERTICAL-ALIGN: top; align: right">
<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">(b)</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Share certificate(s) or DRS Advice(s) registered in the name of the person by whom (or on whose behalf) the Letter of Transmittal is signed need not be endorsed or accompanied by any share transfer power of attorney.</div>
</td>
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</div>

<div>&#160;</div>

<div>
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<tr>
<td style="WIDTH: 72pt; VERTICAL-ALIGN: top; align: right">
<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">(c)</div>
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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Share certificate(s) or DRS Advice(s) not registered in the name of the person by whom (or on whose behalf) the Letter of Transmittal is signed must be endorsed by the registered holder thereof or deposited together with share transfer power of attorney properly completed by the registered holder.&#160; Such signature must be guaranteed by an "Eligible Institution" or in some other manner satisfactory to Computershare.</div>
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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; MARGIN-TOP: 6pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 72pt; FONT-SIZE: 10pt">An "Eligible Institution" means a Canadian schedule 1 chartered bank, a major trust company in Canada, a member of the Securities Transfer Agent Medallion Program (STAMP), a member of the Stock Exchanges Medallion Program (SEMP) or a member of the New York Stock Exchange Inc. Medallion Signature Program (MSP).&#160; Members of these programs are usually members of a recognized stock exchange in Canada or the United States, members of the Investment Industry Regulatory Organization of Canada, members of the Financial Industry Regulatory Authority, Inc. or banks and trust companies in the United States.</div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Where the Letter of Transmittal is executed on behalf of a corporation, partnership or association, or by an agent, executor, administrator, trustee, guardian or any person acting in a representative capacity, the Letter of Transmittal must be accompanied by satisfactory evidence of the representative&#8217;s authority to act.</div>
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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Caledonia reserves the right if it so elects in its absolute discretion to instruct Computershare to waive any defect or irregularity contained in any Letter of Transmittal received by it.</div>
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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">2.</div>
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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Lost Share Certificates</div>
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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; MARGIN-TOP: 6pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">If a share certificate has been lost or destroyed, the Letter of Transmittal must be completed as fully as possible and forwarded to Computershare together with a letter stating the loss.&#160; Computershare will respond with the replacement requirements, which must be properly completed and returned prior to effecting the exchange.</div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">3.</div>
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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Cancellation of Rights after Ten Years</div>
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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Following the Effective Time, any holders of post-Share Consolidation fractional Common Shares (whether a Registered Shareholder or a Non-Registered Shareholder) shall cease to have any rights as a shareholder of the Corporation in respect of that fractional shareholding other than the right to be paid the Cash Consideration.&#160; <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Any such holder who has not surrendered the share certificate(s)/DRS Advice(s) representing the previous Common Shares that then constitute their post-Share Consolidation fractional Common Share in accordance with the Letter of Transmittal on or prior to the tenth anniversary date of the Effective Time will cease to have any claim or interest of any kind or nature against the Corporation or Computershare for the Cash Consideration or otherwise.</font></div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">4.</div>
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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Privacy Notice</div>
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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; MARGIN-TOP: 6pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Computershare is committed to protecting your personal information.&#160; In the course of providing services to you and our corporate clients, we receive non-public personal information about you &#8211; from transactions we perform for you, forms you send us, other communications we have with you or your representatives, etc.&#160; This information could include your name, address, social insurance number, securities holdings and other financial information.&#160; We use this to administer your account, to better serve your and our clients&#8217; needs and for other lawful purposes relating to our services.&#160; We have prepared a <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Privacy Code</font> to tell you more about our information practices and how your privacy is protected.&#160; It is available at our website, computershare.com, or by writing us at 100 University Avenue, Toronto, Ontario, M5J 2Y1.&#160; Computershare will use the information you are providing on this form in order to process your request and will treat your signature(s) on this form as your consent to the above.</div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">5.</div>
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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">U.S. Shareholders</div>
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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt">You are a "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">U.S. Shareholder</font>" if you are (a) an individual citizen or resident alien of the United States as determined for U.S. federal income tax purposes; (b) a corporation (including an entity classified as a corporation for U.S. federal income tax purposes) or partnership (including an entity classified as a partnership for U.S. federal income tax purposes) created or organized in the United States or under the laws of the United States or any state or the District of Columbia; (c) an estate the income of which is subject to United States federal income tax regardless of its source; or (d) a trust if: (i) a court within the United States is able to exercise primary jurisdiction over the trust&#8217;s administration and one or more U.S. persons have the authority to control all substantial decisions of the trust; or (ii) the trust has a valid election in effect under applicable Treasury regulations to be treated as a U.S. person.</div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt">United States federal income tax law generally requires a U.S. Shareholder who receives cash in exchange for Shares to provide the Transfer Agent with its correct Taxpayer Identification Number ("<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">TIN</font>"), which, in the case of a Shareholder who is an individual, is generally the individual&#8217;s social security number.&#160; If the Transfer Agent is not provided with the correct TIN or an adequate basis for an exemption, such holder may be subject to penalties imposed by the Internal Revenue Service (the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">IRS</font>") and backup withholding in an amount equal to 28% of the gross proceeds of any payment received hereunder.&#160; If withholding results in an overpayment of taxes, a refund may be obtained by the U.S. Shareholder by filing a U.S. tax return and complying with all other necessary requirements.</div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt">To prevent backup withholding, each U.S. Shareholder must provide its correct TIN by completing the Form W-9 set out in this document, which requires such holder to certify under penalty of perjury: (1)&#160;that the TIN provided is correct (or that such holder is awaiting a TIN); (2)&#160;that (i)&#160;the holder is exempt from backup withholding; (ii)&#160;the holder has not been notified by the IRS that it is subject to backup withholding as a result of a failure to report all interest or dividends; or (iii)&#160;the IRS has notified the holder that it is no longer subject to backup withholding; (3)&#160;that the holder is a U.S. person for U.S. federal income tax purposes (including a U.S. resident alien); and (4) that the FATCA code(s) entered on the form (if any) indicating exemption from FATCA reporting is correct.</div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt">Exempt holders (including, among others, all corporations) are not subject to backup withholding and reporting requirements.&#160; To prevent possible erroneous backup withholding, an exempt holder must enter its correct TIN in Part I of Form W-9, write "Exempt" in Part II of such form, and sign and date the form.&#160; See the instructions in the enclosed Form W-9 (the "<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">W-9 Guidelines</font>") for additional instructions.</div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt">If Common Shares are held in more than one name or are not in the name of the actual owner, consult the enclosed W-9 Guidelines for information on which TIN to report.</div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt">If a U.S. Shareholder does not have a TIN, such holder should: (i)&#160;consult the enclosed W-9 Guidelines for instructions on applying for a TIN, (ii)&#160;write "Applied For" in the space for the TIN in Part I of the Form W-9, and (iii)&#160;sign and date the Form W-9 and the Certification of Awaiting Taxpayer Identification Number set forth in this Letter of Transmittal.&#160; In such case, the Transfer Agent may withhold 28% of the gross proceeds of any payment made to such holder prior to the time a properly certified TIN is provided to the Transfer Agent, and if the Transfer Agent is not provided with a TIN within sixty (60) days, such amounts will be paid over to the IRS.</div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt">If a Shareholder has a U.S. address, but is not a U.S. Shareholder, such holder is required to submit an appropriate and properly completed IRS Form W-8 Certificate of Foreign Status, signed under penalty of perjury. Such appropriate IRS Form W-8 may be obtained from the Transfer Agent.</div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; MARGIN-TOP: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">A U.S. SHAREHOLDER WHO FAILS TO PROPERLY COMPLETE THE FORM W-9 SET FORTH IN THIS LETTER OF TRANSMITTAL OR A NON-U.S. SHAREHOLDER WHO HAS A U.S. ADDRESS AND FAILS TO PROPERLY COMPLETE THE APPROPRIATE IRS FORM W-8 MAY BE SUBJECT TO BACKUP WITHHOLDING OF 28% OF THE GROSS PROCEEDS OF ANY PAYMENTS MADE TO SUCH HOLDER PURSUANT TO THE SHARE CONSOLIDATION. BACKUP WITHHOLDING IS NOT AN ADDITIONAL TAX. RATHER, THE TAX LIABILITY OF PERSONS SUBJECT TO BACKUP WITHHOLDING WILL BE REDUCED BY THE AMOUNT OF TAX WITHHELD. IF WITHHOLDING RESULTS IN AN OVERPAYMENT OF TAXES, A REFUND MAY BE OBTAINED BY FILING A TAX RETURN WITH THE IRS AND COMPLYING WITH ALL OTHER NECESSARY REQUIREMENTS. THE TRANSFER AGENT CANNOT REFUND AMOUNTS WITHHELD BY REASON OF BACKUP WITHHOLDING.</div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Miscellaneous</div>
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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 11.4pt; MARGIN-TOP: 6pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Additional copies of the Letter of Transmittal may be obtained from Computershare at the office listed below.&#160; Any questions should be directed to <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Computershare Investor Services Inc. at 1-800-564-6253 or by e-mail to </font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>corporateactions@computershare.com.</u></font></div>

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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 10.25pt; MARGIN-LEFT: 9pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">By Mail</font><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">: </font></div>
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<div>&#160;</div>

<div>P.O. Box 7021 </div>

<div>31 Adelaide St East </div>

<div>Toronto, Ontario M5C 3H2 </div>

<div>Attn: Corporate Actions</div>

<div>&#160;</div>
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<div style="MARGIN-LEFT: 9pt"><strong>By Registered Mail, </strong></div>

<div style="MARGIN-LEFT: 9pt"><strong>or by hand or courier: </strong></div>
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<div style="TEXT-ALIGN: left; LINE-HEIGHT: 10.25pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 10.25pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">100 University Avenue, 8<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">th</sup> Floor </div>

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 10.25pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Toronto, Ontario&#160; M5J 2Y1 </div>

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 10.25pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Attn:&#160; Corporate Actions</div>

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