<SEC-DOCUMENT>0001062993-16-009027.txt : 20160418
<SEC-HEADER>0001062993-16-009027.hdr.sgml : 20160418
<ACCEPTANCE-DATETIME>20160418091818
ACCESSION NUMBER:		0001062993-16-009027
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20160418
ITEM INFORMATION:		Unregistered Sales of Equity Securities
ITEM INFORMATION:		Amendments to the Registrant's Code of Ethics, or Waiver of a Provision of the Code of Ethics
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160418
DATE AS OF CHANGE:		20160418

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HELIUS MEDICAL TECHNOLOGIES, INC.
		CENTRAL INDEX KEY:			0001610853
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			WY
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-55364
		FILM NUMBER:		161575885

	BUSINESS ADDRESS:	
		STREET 1:		SUITE 400, 41 UNIVERSITY DRIVE
		CITY:			NEWTOWN
		STATE:			PA
		ZIP:			18940
		BUSINESS PHONE:		215-809-2018

	MAIL ADDRESS:	
		STREET 1:		SUITE 400, 41 UNIVERSITY DRIVE
		CITY:			NEWTOWN
		STATE:			PA
		ZIP:			18940
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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   <TITLE>Helius Medical Technologies, Inc. - Form 8-K - Filed by newsfilecorp.com</TITLE>
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<P align=center><B><FONT size=5>UNITED STATES </FONT></B><BR><B><FONT
size=5>SECURITIES AND EXCHANGE COMMISSION </FONT></B><BR>Washington, DC 20549
</P>
<P align=center><B><FONT size=5>FORM 8-K </FONT></B></P>
<P align=center><B>CURRENT REPORT </B><BR><B>Pursuant to Section 13 or 15(d) of
the </B><BR><B>Securities Exchange Act of 1934 </B><BR></P>
<P align=center>Date of report (Date of earliest event reported): <B><U>April
15, 2016</U></B><B> </B></P>
<P align=center><B><U><FONT size=5>HELIUS MEDICAL TECHNOLOGIES,
INC.</FONT></U></B><B> </B><BR>(Exact Name of Registrant as Specified in
Charter) </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=center><B><U>Wyoming </U></B></TD>
    <TD align=center width="33%"><B><U>000-55364 </U></B></TD>
  <TD align=center width="33%"><B><U>36-4787690 </U></B></TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>(State or Other Jurisdiction </TD>
    <TD align=center width="33%">(Commission </TD>
  <TD align=center width="33%">(IRS Employer </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>of Incorporation) </TD>
    <TD align=center width="33%">File Number) </TD>
  <TD align=center width="33%">Identification No.) </TD>
  </TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=center><B>Suite 400, 41 University Drive </B></TD>
  <TD align=center width="40%" >&nbsp; </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center><B><U>Newtown, Pennsylvania </U></B></TD>
  <TD align=center width="40%" ><B><U>18940 </U></B></TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>(Address of Principal Executive Offices) </TD>
  <TD align=center width="40%" >(Zip Code) </TD>
  </TR></TABLE>
<P align=center>Registrant&#146;s telephone number, including area code <B><U>(215)
809-2018 </U></B></P>
<P align=center>____________________________________________________<BR>(Former
Name or Former Address, if Changed Since Last Report) </P>
<P align=justify>Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (<I>see </I>General Instruction A.2. below):
</P>
<P align=justify>[&nbsp; &nbsp;] Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425) </P>
<P align=justify>[&nbsp; &nbsp;] Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a -12) </P>
<P align=justify>[&nbsp; &nbsp;] Pre-commencement communications pursuant to
Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b)) </P>
<P align=justify>[&nbsp;&nbsp; ] Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c)) </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_2></A>
<P align=justify><B><U>Item 3.02 Unregistered Sales of Equity
Securities.</U></B> </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On April 18, 2016, Helius Medical Technologies,
Inc. (the &#147;Company&#148;) closed a sale of 9,215,000 units at a price of CAD$1.00
(US$0.78) per unit for gross proceeds of approximately $7,199,781. Each unit
consists of one share of the Company&#146;s Class A common stock and one half of one
common share purchase warrant (each whole warrant, a &#147;Warrant&#148;). Each Warrant
will entitle the holder thereof to acquire one additional share of the Company&#146;s
Class A common stock on or before the date that is 36 months from the closing
date at an exercise price of CAD$1.50. The Warrants in the offering are
exercisable for an aggregate of 4,607,500 shares of our Class A common stock.
As disclosed in our Current Report on Form 8-K filed March 24, 2016, pursuant to
the terms of an agency agreement, the Company has agreed to pay the agent a cash
commission equal to 6% of the gross proceeds of the offering for a cash
commission of CAD$436,050 (US$340,690) and to issue the agent non-transferrable
compensation options exercisable to purchase that number of units that is equal
to 6% of the aggregate number of units issued and sold in the offering, for
compensation options exercisable to purchase a total of 436,050 units. Each
compensation option will entitle the holder thereof to acquire one unit at a
price of CAD$1.00 per unit for a period of 24 months after the closing date.</P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
offering and selling the units, the Company relied on the exemptions from
registration provided by Regulation S of the Securities Act of 1933, as amended
(the &#147;Securities Act&#148;) for transactions made outside of the U.S. to non-U.S.
persons and Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D
thereunder for private transactions with purchasers in the U.S. each of which is
an accredited investor.</P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Current Report on Form 8-K does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities described herein. The
securities offered have not been registered under the Securities Act, or
qualified under any state securities laws or the laws of any other jurisdiction,
and may not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements of the Securities Act
and applicable state securities laws. </P>
<P align=justify><B><U>Item 5.05 Amendments to the Registrant&#146;s Code of Ethics,
or Waiver of a Provision of the Code Of Ethics.</U></B> </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
April 15, 2016, the Company&#146;s Board of Directors approved our amended and
restated Code of Business Conduct &amp; Ethics (the &#147;Amended Code of Ethics&#148;)
attached hereto as Exhibit 14.1 and which will also be available on the
Company&#146;s website. The Amended Code of Ethics is applicable to all officers,
directors and employees of the Company, and was revised and updated for general
corporate governance purposes and contains both substantive and administrative
changes. </P>
<P align=justify><B><U>Item 8.01 Other Events</U></B><B>.</B> </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
March 22, 2016, the Company received conditional approval to have the Company&#146;s shares of
Class A common stock listed for trading on the Toronto Stock Exchange (the
&#147;TSX&#148;) under the symbol &#147;HSM.&#148; Our Class A common stock will begin trading on
the TSX on April 18, 2016, following which the shares will be de-listed from the
Canadian Stock Exchange, which is expected to be effective April 19, 2016. Our Class A common stock
will continue to trade on the OTC Markets Group electronic quotation system (the
&#147;OTCQB&#148;) under the symbol &#147;HSDT.&#148; </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B>Item 9.01</B>
      <B>Financial Statements and Exhibits.</B> </TD></TR></TABLE>
<P align=justify>(d)&nbsp;&nbsp;&nbsp; Exhibits: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>Exhibit</B> </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="88%" ><B>Description</B> </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B>Number</B> </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="88%"
    >&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="88%" >&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><a href="exhibit14-1.htm">14.1 </a></TD>
    <TD align=left width="2%"  bgColor=#eeeeee>&nbsp;</TD>
    <TD align=left width="88%" bgColor=#eeeeee ><a href="exhibit14-1.htm">Code of Business
    Conduct &amp; Ethics, as amended and restated on April 15, 2016 </a></TD>
  </TR></TABLE>
<P align=center>2 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<P align=center><B>SIGNATURES </B></P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 hereunto
duly authorized. </P>
<P style="MARGIN-LEFT: 50%" align=justify>HELIUS MEDICAL TECHNOLOGIES, INC. </P>
<P align=justify>Date: April 18, 2016 </P>
<TABLE width="100%" border=0 cellPadding=0
cellSpacing=0
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; ">
  <TR>
    <TD>&nbsp;</TD>
    <TD >By:</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" ><I>/s/ Joyce
LaViscount</I></TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD >Name:</TD>
    <TD >Joyce LaViscount </TD>
  </TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="10%" >Title:</TD>
    <TD width="40%" >Chief Financial Officer </TD>
  </TR>
</TABLE>
<P align=center>3 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<P align=center><U>Exhibit Index</U> </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>Exhibit</B> </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center
      width="88%">&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B>Number</B> </TD>
    <TD align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="88%"><div align="center"><B>Description</B> </div></TD>
  </TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="88%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><a href="exhibit14-1.htm">14.1 </a></TD>
    <TD align=left width="2%" bgColor=#eeeeee>&nbsp;</TD>
    <TD align=left width="88%" bgColor=#eeeeee><a href="exhibit14-1.htm">Code of Business Conduct &amp;
      Ethics, as amended and restated on April 15, 2016 </a></TD>
  </TR></TABLE>
<P align=center>4 </P>
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<DOCUMENT>
<TYPE>EX-14.1
<SEQUENCE>2
<FILENAME>exhibit14-1.htm
<DESCRIPTION>EXHIBIT 14.1
<TEXT>
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   <TITLE>Helius Medical Technologies, Inc. - Exhibit 14.1 - Filed by newsfilecorp.com</TITLE>
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<P align=center><B>CODE OF BUSINESS CONDUCT &amp; ETHICS</B></P>
<P align=justify>The Board of Directors of the Company adopted the following
Code of Business Conduct &amp; Ethics (the &#147;Code&#148;) for all Directors, officers
and Employees of the Company as a guide to ensure that our standards of ethics
are not compromised and that we do not violate laws and regulations in the name
of profit. For purposes of this Code, the term &#147;Employee&#148; includes contractors
and any individual who is paid with Company funds. The &#147;Company&#148; includes Helius
Medical Technologies, Inc., it related companies and all of its subsidiaries.
</P>
<P align=justify>The Company&#146;s reputation depends upon the integrity and ability
of its Employees to comply with all applicable laws and regulations and to
observe high standards of business and personal ethics in discharging their
duties and responsibilities. This requires honesty and integrity in every aspect
of interacting with other Employees, patients, customers, competitors,
regulators, and shareholders. While there cannot be a specific rule for every
situation you may encounter in your workday, we have adopted this Code to
provide certain principles for business conduct and ethics.</P>
<P align=justify>The Company has formalized its commitment to ethical behavior
by adopting this Code of conduct to ensure lawful and ethical behavior on the
part of its Directors and Employees. All Directors and Employees must abide by
this Code, as well as any other policies, procedures, and obligations the
Employee may have.</P>
<P align=justify>A violation of the law or this Code is a serious matter. A
Director, officer or Employee that violates a law, government regulation or this
Code will face appropriate disciplinary action, which may include demotion or
immediate termination of employment for cause. </P>
<P align=justify>The provisions of this Code may be amended or waived only by
the Company&#146;s Board of Directors. </P>
<P align=justify><B><I>Criteria for Ethical Decision Making </I></B></P>
<P style="MARGIN-LEFT: 5%" align=justify>We believe that compliance with all
laws is the starting point for ethical decision making. We strive to do more.
Acting on behalf of the Company calls us to always be truthful, accountable and
to do the right thing. While this sounds simple enough to follow, in practice,
it can prove complex.</P>
<P style="MARGIN-LEFT: 5%" align=justify>If you ever have questions about
whether a particular action is lawful or complies with our Code, you should ask
questions and seek advice. You should ask your manager, the CEO, or a
representative from the legal department. </P>
<P style="MARGIN-LEFT: 5%" align=justify>Helius forbids retaliation against
anyone who asks ethical questions and seeks the advice of a member of the
executive team or legal counsel and voices a concern in good faith.</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_2></A>
<P align=justify><B><I>Ethical Business Practices </I></B></P>
<P style="MARGIN-LEFT: 5%" align=justify>Our Employees execute their
responsibilities with the highest standards for ethical business practices. You
must deal with competitive information in an ethical manner as part of
conducting Company business. You must only use appropriate methods for
collecting competitive information, and you must never misrepresent yourself
when gathering information. If you receive competitors&#146; information
inadvertently, do not copy or forward it to others, but report it to your
manager, CEO, or legal representative and follow their advice. Communicate to
agents, suppliers and business partners that they must observe these guidelines
when acting on behalf of the Company. . </P>
<P align=justify><B><I>Fair Dealings </I></B></P>
<P style="MARGIN-LEFT: 5%" align=justify>We are committed to establishing
long-term, productive business relationships with each of our customers. Every
interaction we have with healthcare professionals, patients, payers, colleagues
and other customers is an opportunity to strengthen those relationships and
demonstrate our commitment to honesty, integrity, and fair dealing. </P>
<P style="MARGIN-LEFT: 5%" align=justify>Deal fairly and honestly with the
Company&#146;s collaborators, suppliers, competitors, other Employees, and anyone
else with whom you have contact in the course of performing your job. You should
not take unfair advantage of anyone through manipulation, concealment,
misappropriate or abuse of confidential information, falsification,
misrepresentation of facts or any other unfair dealing practice.</P>
<P style="MARGIN-LEFT: 5%" align=justify>The Company requires that all
contracts, agreements, obligations and other documents correctly set forth the
terms of the underlying business arrangement and that any such documents are
reviewed and approved through established Company policy and procedures. </P>
<P align=justify><B><I>Corporate Opportunities and Duty of Loyalty </I></B></P>
<P style="MARGIN-LEFT: 5%" align=justify>As healthcare technology innovators, we
know that our innovations will change patients&#146; lives for the better. This is an
awesome responsibility and must be handled with great respect. We respect the
relationship we have formed with our patents and customers, and the trust they
have placed in us. To honor that trust and continue to provide our patients with
extraordinary opportunities and medical devices, we must honor the duty to our
Company. We must promote our products solely based on their approved labeling
and promoting and selling our products through accurate and truthful
communications. </P>
<P style="MARGIN-LEFT: 5%" align=justify>You have a duty of loyalty to the
Company, which includes a duty to advance the Company&#146;s legitimate business
interests when the opportunity to do so arises. Accordingly, you may not use
your position or the Company&#146;s name, property, information or good will for
personal gain or for the gain of others. You are further prohibited from taking
advantage, or allowing others to take advantage, of a personal opportunity that
is discovered through the use of corporate property, Company information or your
position with the Company. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<P align=justify><B><I>Conflicts of Interest</I></B></P>
<P style="MARGIN-LEFT: 5%" align=justify>Helius expects loyalty from all of its
Directors and Employees. A conflict of interest occurs when a Director or
Employee allows personal interests to interfere with his or her responsibility
to the Company. Even the appearance of a conflict of interest should be avoided.
</P>
<P style="MARGIN-LEFT: 5%" align=justify>You must act to benefit the Company and
avoid any situation that actually or potentially benefits you at the Company&#146;s
expense. Some conflicts are clear-cut; others are less obvious. For that reason,
you must fully disclose to a member of the executive team all circumstances that
could be construed or perceived as a conflict of interest. Full disclosure
enables us to resolve unclear situations and create an opportunity to dispose of
or ethically handle conflicts of interest before any difficulty can arise. To
the extent a conflict of interest cannot be avoided in a reasonable fashion then
appropriate procedures must be put in place to minimize the involvement of any
conflicted individuals in the relationship or interaction, giving rise to the
conflict. Failure to make required disclosures or resolve conflicts of interest
satisfactorily can result in disciplinary up to and including termination of
employment. </P>
<P style="MARGIN-LEFT: 5%" align=justify>Any employment agreement with the
Company may appropriately prohibit an Employee&#146;s employment or engagement in any
capacity in any other business without the prior permission of the Company. This
provision broadly addresses potential conflicts of interest. While it is not
possible to describe every situation that could lead to a conflict of interest,
the following are examples of possible conflicts of interest </P>
<TABLE
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cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>Acting as an Employee, Director or officer of or a
      consultant to, a competitor or potential competitor of the Company,
      regardless of the nature of the employment or consulting relationship;
    </P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD width="90%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>Holding a substantial interest in a business which is a
      customer, competitor or supplier of the Company or which otherwise does
      business with the Company; </P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD width="90%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>The purchase of merchandise or services for the Company
      from, or placement of other business with, a company directly or
      beneficially owned or controlled by an Employee, Director or officer of
      the Company, his or her spouse, relative, in-law or co-habitant; and
    </P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%"  >
      <P align=justify>&nbsp;</P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>Serving as proprietor, general partner, officer or
      Director of any business (except charitable organizations or family
      businesses that in no way compete with the Company or do business with the
      Company) without first obtaining written consent of the CEO of the
      Company. (Non-employee Directors of the Company are excluded from this
      prohibition.) </P></TD></TR></TABLE>
<P align=justify><B><I>Accepting or Giving Gifts </I></B></P>
<P style="MARGIN-LEFT: 5%" align=justify>By holding ourselves to the highest
ethical standards, the Company does not use gifts, meals, hospitality,
entertainment, recreation, and other items or activities of value to influence a payer to prescribe, use,
purchase, recommend, or make favorable formulary recommendations concerning our
products.</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<A name=page_4></A>
<P style="MARGIN-LEFT: 5%" align=justify>Similarly, Employees are not permitted
to accept gifts because of the potential, or the appearance of the potential, to
unfairly influence a Company decision. </P>
<P style="MARGIN-LEFT: 5%" align=justify>You must avoid activities or
relationships that conflict with the Company&#146;s interests or adversely affect the
Company&#146;s reputations. The types of activities and relationships you must avoid
include, but are not limited to:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>Accepting or soliciting a gift, favor, or service that is
      intended to, or might appear to, influence the Employee&#146;s decision-making
      or professional conduct; or </P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD width="90%" >&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>Giving or offering to give any gift, gratuity, favor,
      entertainment, reward, &#147;bribe&#148; or &#147;kickback&#148; or any other thing of value
      that might influence or appear to influence the judgment or conduct of the
      recipient in the performance of his or her job. This includes transactions
      with government personnel from any country, customers and suppliers.
    </P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 5%" align=justify>You may give or receive unsolicited
gifts or entertainment only in cases where the gifts or entertainment are of
nominal value, are customary to the industry, will not violate any laws and will
not influence or appear to influence the recipient&#146;s judgment or conduct at his
or her employer&#146;s business. In the event of the receipt of a gift of unknown
value or excessive value where non-acceptance would be detrimental or cause
embarrassment, the gift should be deemed Company property and given to the CEO
for proper disposition. </P>
<P align=justify><B><I>Fraud, Theft or Dishonesty </I></B></P>
<P style="MARGIN-LEFT: 5%" align=justify>It is absolutely forbidden that any
Director, Employee, or business counterpart of the Company commit any act, or
attempt to commit any act, of fraud, theft or dishonesty.</P>
<P style="MARGIN-LEFT: 5%" align=justify>You will not commit any acts of fraud,
theft, dishonesty, embezzlement, misappropriation or falsification in connection
with the performance of your duties for the Company. The Company will take
disciplinary action and report any suspicion of fraud or theft to the applicable
law enforcement agency. </P>
<P align=justify><B><I>Compliance with Laws, Regulations and Rules </I></B></P>
<P style="MARGIN-LEFT: 5%" align=justify>It is Helius&#146; policy to observe and
comply with all laws and regulations applicable to it and the conduct of its
business, wherever that may be. We expect our Directors and Employees to do the
same. As stated earlier, obedience to the law is a starting point, but it is an
essential starting point that must be met by all Employees and Directors all of
the time. </P>
<P style="MARGIN-LEFT: 5%" align=justify>You will at all times obey and comply
with all federal, provincial, state and local laws, regulations and ordinances
of the countries in which we operate, including but not limited to the
following: </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_5></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>Health and safety laws concerning the workplace;
  </P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%"  >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>Civil rights laws concerning harassment and job
      discrimination; </P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%"  >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>Employment laws concerning payment of minimum wage,
      overtime requirements, child labor and general working conditions;
  </P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%"  >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>Immigration related laws concerning the hiring of legally
      documented workers; </P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%"  >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>Securities laws; </P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%"  >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>Laws concerning racketeering and corrupt practices;
    </P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%"  >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>Laws concerning the proper maintenance of books, records
      and internal controls; </P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%"  >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>Laws, regulations, and accepted industry practices
      concerning drug development and commercialization; </P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%"  >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>Laws prohibiting illegal payments, gifts, bribes or
      kickbacks to governmental officials, political parties or others;
  </P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%"  >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>Privacy laws; </P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%"  >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>Environmental laws; </P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%"  >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>Laws prohibiting misappropriation, unauthorized use,
      reproduction or distribution of any third party&#146;s trade secrets,
      copyrighted information or confidential proprietary information;
</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%"  >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>Antitrust and other laws prohibiting unfair competition
      or restraint of trade; and </P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%"  >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>Any other applicable law or regulatory ordinance.
  </P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 5%" align=justify>Managers and supervisors need to model
and inspire ethical compliance and integrity at work. We rely on managers and
supervisors to demonstrate a strong commitment to our Code and to all laws
through their words and actions. Employees must model good behavior to Company
consultants, suppliers, and clients.</P>
<P style="MARGIN-LEFT: 5%" align=justify>You will not commit or condone an
unethical or illegal act nor instruct another Employee, consultant, contractor,
supplier or representative of the Company to do so. You will not authorize or
permit any consultant, contractor, distributor or representative of the Company
to have authority to enter into, incur, make, change, enlarge or falsify any
contract, liability or agreement, obligation, representations, guarantee,
warranty or commitment on behalf of the Company or its affiliated companies..
</P>
<P style="MARGIN-LEFT: 5%" align=justify>You are expected to be sufficiently
familiar with any laws that apply to our work, to recognize potential breaches
and to know when to seek legal advice. If in doubt, you should discuss the
matter with a member of the executive team or member of the legal team. </P>
<P style="MARGIN-LEFT: 5%" align=justify>If you become aware of any violation of
law or regulation, you must inform the Chief Executive Officer, Chief Financial
Officer, Chair of the Audit Committee of the Board of Directors or your immediate
supervisor. Directors and Employees may also report violations by calling
Helius&#146; Ethics hotline. The Ethics hotline number/email is:
[&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;] </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_6></A>
<P align=justify><B><I>Insider Information also known as &#147;Tipping&#148; </I></B></P>
<P style="MARGIN-LEFT: 5%" align=justify>Both securities laws and Helius&#146;
policies prohibit individuals in possession of material information relating to
Helius or one of its partners that has not been disclosed to the general public
from receiving a benefit from such information. All Directors and Employees must
abide by Helius&#146; Insider Trading policy. A copy of the policy is distributed to
new Directors upon joining the Board of Directors and to new Employees at date
of employment, and is available from the Chief Financial Officer.</P>
<P style="MARGIN-LEFT: 5%" align=justify>The policy applies to any person who
has knowledge of material, nonpublic information about the Company and to those
persons, such as relatives or friends, who receive such information from a
person who possesses the information. If you are unsure whether the purchase or
sale of Helius stock or a development partner's stock would violate the Insider
Trading Policy, you must consult the Chief Financial Officer before buying or
selling the stock. </P>
<P style="MARGIN-LEFT: 5%" align=justify>From time to time the Company
implements stock trading blackout periods during which time Directors, officers
and Employees are restricted from buying or selling shares. Background
information on blackouts will be made available to Employees via emails. </P>
<P style="MARGIN-LEFT: 5%" align=justify>Also
  prohibited is &#147;tipping&#148; &#150; the disclosure of material, non-public information to
  anyone other than in the necessary course of business. &#147;Tipping&#148; is a violation
  of the law and may result in civil or criminal liability of the person who
  passes material non-public information to another person who buys or sells
  securities while in possession of the information. </P>
<P style="MARGIN-LEFT: 5%" align=justify>The Company is completely against
anyone conducting activities which contravene the Code and the securities laws.
</P>
<P align=justify><B><I>Accounting and Recordkeeping </I></B></P>
<P style="MARGIN-LEFT: 5%" align=justify>Our shareholders depend on our honesty
and integrity, particularly when measuring the financial performance of our
Company. We must maintain ethical, honest, and reliable accounting practices at
all times. This includes all aspects of our financial activities and every
individual who has any responsibility for the Company financial information.</P>
<P style="MARGIN-LEFT: 5%" align=justify>Every Employee who participates in the financial control and reporting processes
  of the Company is involved in our effort to provide the public with an honest
  and complete understanding of our financial strength.</P>
<P style="MARGIN-LEFT: 5%" align=justify>It is of monumental importance to
Helius that all disclosures in public communications made by Helius and in
financial reports and documents that Helius files with, or submits to, the
Securities and Exchange Commission is full, fair, accurate, timely and understandable. Each Director and
Employee must take all steps available to assist Helius in these
responsibilities consistent with his or her role within our company. In
particular, you are required to provide prompt and accurate answers to all
inquiries made to you in connection with Helius&#146;s preparation of its public
reports and disclosures and report all material information of which you are
aware that affects public disclosures made by Helius. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_7></A>
<P style="MARGIN-LEFT: 5%" align=justify>If you have responsibility over any
aspect of the Company&#146;s financial activities (including, but not limited to,
processing of cash receipts or processing or approval of payments; creation,
processing or approval of invoices and credit memos; payroll and benefits
decisions; approval of expense reports and any and all other transactions; or
the estimation of reserves or other claims or the amount of any accrual of
deferral; or the recording of any of the foregoing in the Company&#146;s ledgers)
and/or the preparation of the Company&#146;s financial statements or other reports,
you must ensure your involvement complies with honest and accurate procedures.
</P>
<P style="MARGIN-LEFT: 5%" align=justify>We must ensure that our Company&#146;s
financial information is accurate and complete. Our shareholders and regulators,
among others, expect us to do so. The records we create as part of our daily
responsibilities have a significant impact on the financial information our
Company discloses and the larger decisions we make. All of our Employees who are
involved in this preparation and communication effort must understand and comply
with our Code and Company standard for public disclosure. </P>
<P style="MARGIN-LEFT: 5%" align=justify>As an Employee involved in the
preparation of Company financials, you shall not subvert the Company&#146;s
established systems of internal management and accounting controls, maintain
funds or assets for any illegal or improper purposes or make false or misleading
statements in any Company documents, reports or records. No undisclosed or
unrecorded accounts may be established using the Company&#146;s funds or other
assets. All accounting records and the financial reports produced from those
records must be kept and presented in accordance with applicable law, must
accurately and fairly reflect in reasonable detail the Company&#146;s assets,
liabilities, revenue and expenses, and must be in accordance with generally
accepted accounting principles.</P>
<P style="MARGIN-LEFT: 5%" align=justify>Transactions must be promptly supported
by accurate and reasonably detailed documentation and recorded in the proper
account. Best efforts are to be made to record transactions in the proper
accounting time period. To the extent that estimates are necessary, they must be
based on your good faith judgment and be supported by appropriate documentation.
No payment or the related accounting entry may be approved or made with the
intention or understanding that any part of the payment will be used for any
purpose other than that described by the document supporting the entry or
payment. </P>
<P style="MARGIN-LEFT: 5%" align=justify>If you receive inquiries from the Company&#146;s independent accountants,
  you must respond promptly, fully and accurately. </P>
<P style="MARGIN-LEFT: 5%" align=justify>If you have any questions about this
section of the Code, or have a work-related question or concern, you should take
it up directly with the CFO. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_8></A>
<P align=justify><B><I>Use of Company Property and Resources </I></B></P>
<P style="MARGIN-LEFT: 5%" align=justify>You are entrusted with the care,
management and cost-effective use of the Company&#146;s property and you will not
make use of these resources for your own personal benefit or purposes or for the
personal benefit of anyone else. You should not have an expectation of personal
privacy in any Company property entrusted to you. </P>
<P style="MARGIN-LEFT: 5%" align=justify>You will ensure that all Company
property assigned to you is maintained in good condition and you should be able
to account for such equipment. Any dispositions of Company property should be
for the benefit of the Company and not for personal benefit. </P>
<P style="MARGIN-LEFT: 5%" align=justify>Access to the
  Company&#146;s computer systems is restricted where computer systems are defined as
  any combination of hardware, programs, applications, peripheral devices,
  personnel and/or associated documentation. Passwords are to be kept confidential
  and use of the computer systems is limited to authorized business purposes. </P>
<P style="MARGIN-LEFT: 5%" align=justify>You must protect Helius&#146; assets and
ensure their proper use. Helius&#146;s assets, both tangible and intangible, are to
be used only for legitimate business purposes of Helius and only by Directors
and authorized Employees or consultants. Intangible assets include intellectual
property such as: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >Trade secrets, patents,
      trademarks and copyrights; </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%"  >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >Development, business and
      marketing plans; </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%"  >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >Clinical and other trial
      protocols and results; </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%"  >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >Scientific, engineering and
      manufacturing processes, designs and databases; </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%"  >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >Company records; </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%"  >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >Unpublished scientific
      information; and </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%"  >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >Any unpublished financial data
      and reports. </TD></TR></TABLE>
<P style="MARGIN-LEFT: 5%" align=justify>Unauthorized alteration, destruction,
use, disclosure or distribution of Helius assets violates this Code of conduct
and may result in discipline, up to and including termination of employment.
Theft or waste of, or carelessness in using, these assets would have an adverse
impact on Helius&#146;s operations and profitability and will not be tolerated. </P>
<P style="MARGIN-LEFT: 5%" align=justify>Helius&#146;s systems and other assets may
not be used for any unlawful purpose, such as sending discriminatory, harassing,
or obscene materials (including without limitation those directed at an
individual&#146;s or group&#146;s race, sex, sexual orientation, disability, age,
religion, national origin, color, or any other legally protected characteristic)
or violating any of Helius&#146;s policies. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_9></A>
<P align=justify><B><I>Proprietary and Confidential Information, Intellectual
Property and Inventions</I></B></P>
<P style="MARGIN-LEFT: 5%" align=justify>Our Company&#146;s proprietary and
confidential information is one of our most valuable assets, and we
substantially invest in its development. We protect our Company&#146;s intellectual
property by obtaining patent, trademark, or trade secret protection, and by
taking precautions to prevent inappropriate disclosure, use, or loss of such
information. We vigorously enforce our rights to these assets, and we similarly
respect the intellectual property of others. </P>
<P style="MARGIN-LEFT: 5%" align=justify>Confidential information may also
include our business strategy, plans for the future, and other non-public
information. We want our Employees to be well informed about our business, our
plans for future growth, and the successes and challenges we have along the way.
In return for this openness, the Company places trust in its Employees to
maintain, absent a court order or other legal requirement, the strict
confidentiality of our proprietary information and those aspects of our business
that we have not yet shared with shareholders and the general public. </P>
<P style="MARGIN-LEFT: 5%" align=justify>You are to take all feasable measures
to protect the confidentiality of non-public information about the Company
obtained or created in connection with your activities and to prevent the
unauthorized disclosure of such information unless required by applicable law or
regulation of legal or regulatory process. You must use proprietary information
only for the Company&#146;s legitimate business purposes, and not for your personal
benefit or the personal benefit of anyone else. You must avoid discussing
Company information in public places where others can hear. </P>
<P style="MARGIN-LEFT: 5%" align=justify>To provide the Company with reasonable
protection against disclosure of trade secrets and confidential information, all
Employees may be required to sign an employment agreement prior to their start
with the Company that includes clauses addressing confidential information,
invention assignment and a prior invention declaration. These clauses state in
part that the Company retains exclusive ownership of all inventions and
discoveries arising out of employment and any information pertaining to the
business or research activities of the Company. </P>
<P style="MARGIN-LEFT: 5%" align=justify>Proprietary and confidential
information is any information about the Company that has not been disclosed to
the public and includes, without limitation: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>The Company&#146;s ideas, discoveries, inventions, formulae,
      algorithms, techniques, processes, know how, trade secrets, research,
      laboratory notes, data, analysis, assays, designs, methods, flow charts,
      drawings, specifications, plans, prototypes, apparatus, devices,
      specimens, manufacturing and production processes; </P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>Company strategy and the content of upcoming meetings;
      </P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>Regulatory filings and correspondences; </P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>Software; </P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>Information concerning actual or projected sales,
      earnings or operating results or business transactions;
</P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_10></A><BR>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>Customer and supplier lists, relationship with
      consultants, contracts, business plans and marketing strategies; and
    </P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD width="90%" >
      <P align=justify>&nbsp;</P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>&#149; </TD>
    <TD align=left width="90%" >
      <P align=justify>Personnel information. </P></TD></TR></TABLE></DIV>
<P style="MARGIN-LEFT: 5%" align=justify>It is each Employee&#146;s responsibility to
know what is confidential or proprietary and ensure that they use it only in the
performance of duties with the Company. If unsure, consider the information to
be confidential until you obtain clarification to the contrary. </P>
<P align=justify><B><I>Reporting and Compliance Procedures </I></B></P>
<P style="MARGIN-LEFT: 5%" align=justify>We are committed to ensuring that
Helius is a Company that maintains the highest ethical and compliance standards.
This is a responsibility every Employee shares and must continue to ask
questions and be vigilant at all times.</P>
<P style="MARGIN-LEFT: 5%" align=justify>Every Employee, officer and Director
has the responsibility to ask questions, seek guidance, report suspected
violation and express concern regarding compliance with this Code, including but
not limited to questionable accounting, internal accounting control or auditing
matters. </P>
<P style="MARGIN-LEFT: 5%" align=justify>Any Employee, officer or Director who
knows or believes that any other Employee or representative of the Company has
engaged or is engaging in Company-related conduct that violates applicable law
or this Code has the responsibility to report such information. You should first
talk to any member of the executive team or a legal team member. </P>
<P style="MARGIN-LEFT: 5%" align=justify>If you are not comfortable reporting to
the above, it is not feasible, or such reporting has resulted in unsatisfactory
results, you are to report such suspected violations to an independent member of
the Board&#146;s Audit Committee as set out below. You may also anonymously report
this to the Company via the website. </P>
<P style="MARGIN-LEFT: 5%" align=justify>Failure to comply with the standards
outlined in this Code will result in disciplinary action including, but not
limited to, reprimands, warnings, probation or suspension without pay,
demotions, reductions in salary, discharge and restitution. Certain violations
of this Code may require the Company to refer the matter to the appropriate
governmental or regulatory authorities for investigation or prosecution.
Moreover, any supervisor who directs or approves of any conduct in violation of
this Code, or who has knowledge of such conduct and does not immediately report
it, also will be subject to disciplinary action, up to and including discharge.
</P>
<P align=justify><B><I>Whistle-blower Protection </I></B></P>
<P style="MARGIN-LEFT: 5%" align=justify>Any Employee, officer, stockholder or
third party who has a concern about the Company&#146;s business conduct or any
possible violations of law, or of this Code, or about its accounting, internal
accounting controls, public reporting, or financial or auditing matters may
communicate that concern directly to the Chairman of the Board of the Company or
Chairman of the Audit Committee of the Board.</P>
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<P style="MARGIN-LEFT: 5%" align=justify>Such communication may be confidential.
You may also contact these persons to report any issues, complaints or concerns
about potential breaches in ethics, compliance requirements or company
policy.</P>
<P style="MARGIN-LEFT: 5%" align=justify>To contact the CEO, you may send an
email to the Company; and to contact the Chairman of the Audit committee, you
may send an email to the Audit Committee. </P>
<P style="MARGIN-LEFT: 5%" align=justify>All such concerns will be forwarded to
one or more appropriate individuals, inside or outside of the Company, for their
review. The status of all outstanding concerns addressed to the Chairman of the
Board or the Chairman of the Audit Committee will be reported to the Audit
Committee periodically. The non-employee Directors of the Audit Committee may
direct specialized support, including the retention of outside advisors or
counsel with payment by the Company, for any concern addressed to them. </P>
<P style="MARGIN-LEFT: 5%" align=justify>No adverse action or retribution of any
kind (i.e. discharge, demote, suspend, threaten or harass or in any other manner
discriminate against an Employee in the terms and conditions of employment) will
be taken by the Company against any Employee because he or she reports in good
faith a suspected violation of this Code or other irregularity by any person
other than the reporting Employee. </P>
<P align=justify><B><I>Waivers and Amendments </I></B></P>
<P style="MARGIN-LEFT: 5%" align=justify>While some of the policies contained in
this Code must be strictly adhered to and no exception can be allowed, in other
cases limited exceptions may be possible, depending on a case-by-case situation.
Any executive officer or Director who seeks an exception to any of these
policies should contact the Chairman of the Board of Directors. Any waiver of
this Code for executive officers and Directors or any change to this Code that
applies to executive officers or Directors may be made only by the Board of
Directors of the Company and will be disclosed as required by law or stock
market regulations.</P>
<P style="MARGIN-LEFT: 5%" align=justify>Any other Employee or officer who
believes that an exception to any of these policies is appropriate in his or her
case should first contact his or her immediate supervisor. If the supervisor
agrees that an exception is appropriate, the approval of the Chief Executive
Officer must be obtained. The Chief Executive Office shall be responsible for
maintaining a complete record of all requests for exceptions to any of these
policies and the disposition of such requests. </P>
<P align=justify><B><I>Administration and Distribution </I></B></P>
<P style="MARGIN-LEFT: 5%" align=justify>The Company&#146;s Board of Directors and
Audit Committee have established the standards of business conduct contained in
this Code and oversees compliance with this Code.</P>
<P style="MARGIN-LEFT: 5%" align=justify>This Code shall be distributed to each
new Employee, officer and Director of the Company upon commencement of his or
her employment or other relationship with the Company. It will also be made
available via the Company&#146;s Intranet site.</P>
<P style="MARGIN-LEFT: 5%" align=justify>Strict adherence to this Code is vital.
Managers are responsible for ensuring that Employees are aware of and understand
the provisions of the Code. For clarification or guidance on any point in the
Code of Business Conduct &amp; Ethics, please consult a member of the executive
team or a Human Resources Manager. </P>
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