<SEC-DOCUMENT>0001062993-18-005148.txt : 20181226
<SEC-HEADER>0001062993-18-005148.hdr.sgml : 20181226
<ACCEPTANCE-DATETIME>20181226065927
ACCESSION NUMBER:		0001062993-18-005148
CONFORMED SUBMISSION TYPE:	8-A12B
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20181226
DATE AS OF CHANGE:		20181226

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AURORA CANNABIS INC
		CENTRAL INDEX KEY:			0001683541
		STANDARD INDUSTRIAL CLASSIFICATION:	MEDICINAL CHEMICALS & BOTANICAL PRODUCTS [2833]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-A12B
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38691
		FILM NUMBER:		181251314

	BUSINESS ADDRESS:	
		STREET 1:		1500 - 1199 WEST HASTINGS ST.
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6E 3T5
		BUSINESS PHONE:		604-362-5207

	MAIL ADDRESS:	
		STREET 1:		1500 - 1199 WEST HASTINGS ST.
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6E 3T5
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-A12B
<SEQUENCE>1
<FILENAME>form8a12b.htm
<DESCRIPTION>FORM 8-A12B
<TEXT>
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   <TITLE>Auroris Cannabis Inc. - Form 8/A-12B - 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 D.C. 20549
</P>
<P align=center><B><FONT size=5>FORM 8-A </FONT></B></P>
<P align=center><B>FOR REGISTRATION OF CERTAIN CLASSES OF SECURITIES
</B><BR><B>PURSUANT TO SECTION 12(b) OR (g) OF THE</B><BR><B>SECURITIES EXCHANGE
ACT OF 1934 </B><BR></P>
<P align=center><B><U><FONT size=5>AURORA CANNABIS INC.</FONT></U></B><B>
</B><BR>(Exact name of registrant as specified in its 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 width="50%" align=center><B><U>British Columbia, Canada </U></B></TD>
  <TD align=center width="50%" ><B><U>N/A </U></B></TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>(State of incorporation or organization) </TD>
    <TD align=center width="50%" >(I.R.S. Employer Identification
      No.) </TD>
  </TR>
  <TR>
    <TD align=center>&nbsp; </TD>
  <TD align=center width="50%" >&nbsp; </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center><B>Suite 500 &#150; 10355 Jasper Avenue </B></TD>
  <TD align=center width="50%" >&nbsp; </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center><B><U>Edmonton, Alberta </U></B></TD>
  <TD align=center width="50%" ><B><U>T5J 1Y6 </U></B></TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>(Address of principal executive offices) </TD>
  <TD align=center width="50%" >(Zip Code) </TD>
  </TR></TABLE>
<P align=center><B>CORPORATION SERVICE COMPANY</B><BR><B>251 Little Falls Drive
</B><BR><B>County of New Castle </B><BR><B>Wilmington, Delaware 19808
</B><BR><B><U>Tel: 1-800-927-9800</U></B><B> </B><BR>(Name, address (including
zip code) and telephone number (including<BR>area code) of agent for service in
the United States) <BR></P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=3 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 1px solid" align=left>Securities to be
      registered pursuant to Section 12(b) of the Act:
</TD></TR></TABLE></DIV><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=left><U>Title of each class to be so registered </U></TD>
    <TD align=left width="50%"><U>Name of each exchange of which </U></TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left><B><U>Rights to purchase common shares,
      </U></B><B><U>without par value </U></B></TD>
    <TD align=left width="50%"><B><U>New York Stock Exchange
  </U></B></TD></TR></TABLE>
<P align=justify>If this form relates to the registration of a class of
securities pursuant to Section 12(b) of the Exchange Act and is effective
pursuant to General Instruction A.(c), check the following box. [<B>X</B>] </P>
<P align=justify>If this form relates to the registration of a class of
securities pursuant to Section 12(g) of the Exchange Act and is effective
pursuant to General Instruction A.(d), check the following box. [&nbsp;&nbsp; ]
</P>
<P align=justify>Securities Act registration statement file number to which this
form relates: ___________ (if applicable)</P>
<P align=justify>Securities to be registered pursuant to Section 12(g) of the
Act: <B><U>None </U></B></P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<A name=page_2></A>
<P align=justify><B>Item 1. Description of Registrant&#146;s Securities to be
Registered. </B></P>
<P align=justify><B><I>Background </I></B></P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The board of directors (the &#147;<B>Board</B>&#148;) of Aurora Cannabis Inc. (the
&#147;<B>Company</B>&#148;) adopted a shareholder rights plan (the &#147;<B>Rights Plan</B>&#148;)
effective October 4, 2018. The Rights Plan was approved by shareholders at the
Company&#146;s Annual General and Special Meeting of shareholders which took place on
November 30, 2018. The terms of the Rights Plan are contained in a shareholder
rights plan agreement (the &#147;<B>Rights Agreement</B>&#148;) dated as of November 30,
2018 between the Company and Computershare Trust Company of Canada, as rights
agent (in such capacity, the &#147;<B>Rights Agent</B>&#148;). </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Rights Plan has been adopted to provide adequate time for the Board and
shareholders to assess an unsolicited take-over bid for the Company (a
&#147;<B>Take-over Bid</B>&#148;), to provide the Board with sufficient time to explore
and develop alternatives for maximizing shareholder value if a Take-over Bid is
made, and to provide shareholders with an equal opportunity to participate in a
Take-over Bid and receive full and fair value for their common shares (the
&#147;<B>Common Shares</B>&#148;).</P>
<P align=justify><B><I>Summary of the Rights Agreement </I></B></P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Term</U> </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Rights Agreement provides that it is to be effective from the later of
November 30, 2018 and the date on which the Rights Agreement has been executed
by the Corporation and the Rights Agent &#150; namely, December 21, 2018 (the
&#147;<B>Effective Date</B>&#148;).</P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Rights Plan will continue to remain in effect from and after the Effective Date,
provided that it is reconfirmed by a resolution passed by a majority of the
votes cast by independent shareholders at the Company&#146;s annual meeting of
shareholders to be held in 2021 and at every third annual meeting thereafter.
Independent shareholders entitled to vote on a resolution to reconfirm the
Rights Plan would exclude, among others: (i) an Acquiring Person (as defined
below); (ii) a person (an &#147;<B>Offeror</B>&#148;) who has made a public announcement
of a current intention to make, or who is making, a Take-over Bid; or (iii) a
person who is affiliated, associated or acting in concert with an Acquiring
Person or an Offeror. </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Issue of Rights</U> </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On the Effective Date, one right (a &#147;<B>Right</B>&#148;) was issued and attached to
each outstanding Common Share and has and will attach to each Common Share
subsequently issued. </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Company hereby incorporates by reference the description of its Common
Shares contained in the Registration Statement on Form 40-F, as filed with the
SEC on October 5, 2018 and subsequently amended by Amendment No. 1 to the
Registration Statement filed with the SEC on October 5, 2018 and Amendment No. 2
to the Registration Statement filed with the SEC on December 4, 2018. </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Exercise of Rights</U> </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Rights will separate from the Common Shares and become exercisable ten (10)
trading days (the &#147;<B>Separation Time</B>&#148;) after the earlier of: (i) the first
date of public disclosure by the Company or an Acquiring Person (as defined
below) of facts indicating that a person has become an Acquiring Person; (ii)
the date of the commencement of, or first public announcement or disclosure of
the intent of any person to commence a Take-over Bid (other than a Permitted Bid
(as defined below) or Competing Permitted Bid (as defined below); and (iii) the date on which a
Permitted Bid or Competing Permitted Bid ceases to qualify as a Permitted Bid or
Competing Permitted Bid, as applicable. </P>
<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=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Each Right will entitle the holder to purchase from the Company, at any time
after the Separation Time and prior to the Expiration Time (as defined in the
Rights Agreement), one fully paid Common Share of the Company at the Exercise
Price referred to below, upon presentation and surrender of the Rights
Certificate, together with the Form of Election to Exercise appropriately
completed and duly executed in the form annexed to the Rights Certificate, to
the Rights Agent at its principal office in Vancouver, British Columbia or
Toronto, Ontario.</P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Subject to adjustment under the Rights Agreement, the &#147;Exercise Price&#148; will be
equal to three (3) times the Market Price per Common Share. Generally: (i) the
Market Price will be the average of the daily Closing Prices of the Company&#146;s
Common Shares on each of the 20 consecutive trading days through to and
including the trading day immediately preceding the date of determination of the
Market Price; and (ii) the &#147;Closing Price&#148; will be determined under the Rights
Agreement by reference to the closing board lot sale price of the Company&#146;s
Common Shares on the principal stock exchange or national securities quotation
system on which the Common Shares are listed or admitted to trading, or, if such
price is not available, the average of the closing bid and asked prices.</P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Flip-in Event and Exchange Option</U> </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The acquisition by any person (an &#147;<B>Acquiring Person</B>&#148;) of 20% or more of
the common shares, other than by way of a Permitted Bid, is referred to as a
&#145;&#145;<B>Flip-in Event&#146;&#146;</B>. Any Rights held by an Acquiring Person will become
void upon the occurrence of a Flip-in Event. Ten trading days after the
occurrence of the Flip-in Event, each Right (other than those held by the
Acquiring Person), will permit the purchase from the Company of that number of
common shares as have an aggregate Market Price on the date of occurrence of
such Flip-in Event equal to twice the Exercise Price for an amount in cash equal
to the Exercise Price (such right to be appropriately adjusted subject to the
terms of the Rights Plan). </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Accordingly, if one assumes a Market Price of Cdn.$7.50 per Common Share, each
Right would allow a shareholder to purchase six (6) Common Shares for
Cdn.$22.50, effectively allowing the exercising holders of Rights to acquire the
Common Shares at a 50% discount to the then prevailing market price. Based on an
assumed market price of Cdn.$7.50 per common share, the resulting issuance of
six (6) Common Shares for each exercised Right would create substantial
dilution. </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
By making any Take-over Bid other than a Permitted Bid or a Competing Permitted
Bid prohibitively expensive for an Acquiring Person, the Rights Plan is designed
to require any person interested in acquiring more that 20% of the common shares
to do so by way of a Permitted Bid or Competing Permitted Bid or to make a
Take-over Bid which the Board considers to represent the full and fair value of
the Common Shares. </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Prior to the Rights being triggered, they will have no value and no dilutive
effect on the Common Shares. </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Certificates and Transferability</U> </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Prior to the Separation Time, the Rights are evidenced by the registered
ownership of the common shares (whether evidenced by a certificate representing
common shares) issued from and after the Effective Date and are not to be
transferable separately from the Common Shares. From and after the Separation
Time, the Rights will be evidenced by separate certificates that will be
transferable and traded separately from the Common Shares. </P>
<P align=center>3</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<A name=page_4></A>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Permitted Bids</U> </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Board, acting in good faith, may, prior to the occurrence of a Flip-in
Event, waive the application of the Rights Plan to a particular Flip-in Event
(an &#145;&#145;<B>Exempt Acquisition</B>&#146;&#146;) where the Take-over Bid is made by a
Take-over Bid circular to all holders of Common Shares (a &#147;<B>Permitted
Bid</B>&#148;). Where the Board exercises the waiver power for one Take-over Bid, the
waiver will also apply to any other Take-over Bid for the Company made by a
Take-over Bid circular to all holders of Common Shares prior to the expiry of
any other bid for which the Rights Plan has been waived (a &#147;<B>Competing
Permitted Bid</B>&#148;). </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Redemption and Waiver</U> </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Board with the approval of a majority vote of the votes cast by shareholders
(or the holders of Rights if the Separation Time has occurred) voting in person
and by proxy, at a meeting duly called for that purpose, may redeem the Rights
at $0.00001 per Common Share. Rights may also be redeemed by the Board without
such approval following completion of a Permitted Bid, Competing Permitted Bid
or Exempt Acquisition. </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Amendment of the Rights Plan</U> </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Board may amend the Rights Plan with the approval of a majority vote of the
votes cast by shareholders (or the holders of Rights if the Separation Time has
occurred) voting in person and by proxy at a meeting duly called for that
purpose. The Board without such approval may correct clerical or typographical
errors and, subject to approval as noted above at the next meeting of the
shareholders (or holders of Rights, as the case may be), may make amendments to
the Rights Plan to maintain its validity due to changes in applicable
legislation. </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Board of Directors</U> </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Rights Plan will not detract from or lessen the duty of the Board to act
honestly and in good faith with a view to the best interests of the Company. The
Board, when a Permitted Bid is made, will continue to have the duty and power to
take such actions and make such recommendations to shareholders as are
considered appropriate. </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Exemptions for Investment Advisors</U> </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Investment advisors (for fully managed accounts), mutual funds, trust companies
(acting in their capacities as trustees and administrators), statutory bodies
whose business includes the management of funds and administrators of registered
pension plans acquiring greater than 20% of the Common Shares are exempted from
triggering a Flip-in Event, provided that they are not making, or are not part
of a group making, a Take-over Bid. </P>
<P align=justify><B>Item 2. Exhibits</B> </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="90%" >&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="90%" >&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>
    <P align=justify><a href="exhibit3-1.htm">3.1 </a></P></TD>
    <TD align=left width="90%" bgColor=#eeeeee >
      <P align=justify><a href="exhibit3-1.htm">Shareholder Rights Plan Agreement dated as of November
      30, 2018 between Aurora Cannabis Inc. and Computershare Trust Company of
  Canada </a></P></TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgcolor="#EEEEEE">3.2 </TD>
    <TD width="90%" align=left bgcolor="#EEEEEE" >Form of Rights Certificate
      (included as part of Exhibit 1 hereto) </TD></TR></TABLE>
<P align=center>4</P>
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noShade SIZE=5>
<A name=page_5></A>
<P align=center><B>SIGNATURE </B></P>
<P align=justify>Pursuant to the requirements of Section 12 of the Securities
Exchange Act of 1934, the registrant has duly caused this registration statement
to be signed on its behalf by the undersigned, thereto duly authorized. </P>
<P align=justify>DATE: December 21, 2018 </P>
<P align=justify><B>AURORA CANNABIS INC. </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
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  <TR vAlign=top>
    <TD align=left>By: </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="45%">/s/
      Glen Ibbott </TD>
    <TD align=left width="50%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="45%">Glen Ibbott </TD>
    <TD align=left width="50%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="45%">Chief Financial Officer </TD>
    <TD align=left width="50%">&nbsp;</TD></TR></TABLE>
<P align=center>5</P>
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<DOCUMENT>
<TYPE>EX-3.1
<SEQUENCE>2
<FILENAME>exhibit3-1.htm
<DESCRIPTION>EXHIBIT 3.1
<TEXT>
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   <TITLE>Auroris Cannabis Inc. - Exhibit 3.1 - Filed by newsfilecorp.com</TITLE>
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<A name=page_1></A>
<P align=justify>&nbsp;</P>
<P align=justify>&nbsp;</P>
<P align=justify>&nbsp;</P>
<P align=center><B>SHAREHOLDER RIGHTS PLAN AGREEMENT </B></P>
<P align=center>&nbsp;</P>
<P align=center><B>BETWEEN </B></P>
<P align=center>&nbsp;</P>
<P align=center><IMG src="aurlogo.jpg" border=0> </P>
<P align=center><B>AURORA CANNABIS INC. </B></P>
<P align=center>&nbsp;</P>
<P align=center><B>AND </B></P>
<P align=center><B>COMPUTERSHARE TRUST COMPANY OF CANADA </B></P>
<P align=center>&nbsp;</P>
<P align=center><B>Made as of November 30, 2018 </B></P>
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<A name=page_2></A>
<P align=center><B>TABLE OF CONTENTS </B></P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=3 width="100%" border=0>

  <TR vAlign=top>
    <TD width="3%" align=left >&nbsp;</TD>
    <TD align=left width="5%">&nbsp; </TD>
    <TD align=left >&nbsp; </TD>
    <TD align=right width="5%"><B>Page</B> </TD>
  </TR>
  <TR vAlign=top>
    <TD colspan="3" align=left  bgColor=#eeeeee><A
      href="#page_4"><STRONG>ARTICLE
      1 INTERPRETATION</STRONG> </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee><A
      href="#page_4"><B>4</B>
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="3%" align=left >&nbsp;</TD>
    <TD align=left width="5%"><A
      href="#page_4">1.1
      </A></TD>
    <TD align=left ><A
      href="#page_4">Certain
      Definitions </A></TD>
    <TD align=right width="5%"><A
      href="#page_4">4
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="3%" align=left  bgColor=#eeeeee>&nbsp;</TD>
    <TD align=left width="5%" bgColor=#eeeeee><A
      href="#page_20">1.2
      </A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_20">Currency
      </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee><A
      href="#page_20">20
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="3%" align=left >&nbsp;</TD>
    <TD align=left width="5%"><A
      href="#page_21">1.3
      </A></TD>
    <TD align=left ><A
      href="#page_21">Number
      and Gender </A></TD>
    <TD align=right width="5%"><A
      href="#page_21">21
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="3%" align=left  bgColor=#eeeeee>&nbsp;</TD>
    <TD align=left width="5%" bgColor=#eeeeee><A
      href="#page_21">1.4
      </A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_21">Sections
      </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee><A
      href="#page_21">21
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="3%" align=left >&nbsp;</TD>
    <TD align=left width="5%"><A
      href="#page_21">1.5
      </A></TD>
    <TD align=left ><A
      href="#page_21">Statutory
      References </A></TD>
    <TD align=right width="5%"><A
      href="#page_21">21
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="3%" align=left  bgColor=#eeeeee>&nbsp;</TD>
    <TD align=left width="5%" bgColor=#eeeeee><A
      href="#page_21">1.6
      </A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_21">Calculation
      of Voting Shares Beneficially Owned </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee><A
      href="#page_21">21
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="3%" align=left >&nbsp;</TD>
    <TD align=left width="5%"><A
      href="#page_21">1.7
      </A></TD>
    <TD align=left ><A
      href="#page_21">Acting
      Jointly or in Concert </A></TD>
    <TD align=right width="5%"><A
      href="#page_21">21
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="3%" align=left  bgColor=#eeeeee>&nbsp;</TD>
    <TD align=left width="5%" bgColor=#eeeeee><A
      href="#page_22">1.8
      </A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_22">Generally
      Accepted Accounting Principles </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee><A
      href="#page_22">22
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD colspan="3" align=left ><A
      href="#page_22"><STRONG>ARTICLE
      2 THE RIGHTS</STRONG> </A></TD>
    <TD align=right width="5%"><A
      href="#page_22"><B>22</B>
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="3%" align=left  bgColor=#eeeeee>&nbsp;</TD>
    <TD align=left width="5%" bgColor=#eeeeee><A
      href="#page_22">2.1
      </A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_22">Issuance
      of Rights; Legend on Share Certificates </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee><A
      href="#page_22">22
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="3%" align=left >&nbsp;</TD>
    <TD align=left width="5%"><A
      href="#page_23">2.2
      </A></TD>
    <TD align=left ><A
      href="#page_23">Initial
      Exercise Price; Exercise of Rights; Detachment of Rights </A></TD>
    <TD align=right width="5%"><A
      href="#page_23">23
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="3%" align=left  bgColor=#eeeeee>&nbsp;</TD>
    <TD align=left width="5%" bgColor=#eeeeee><A
      href="#page_26">2.3
      </A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_26">Adjustments
      to Exercise Price; Number of Rights </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee><A
      href="#page_26">26
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="3%" align=left >&nbsp;</TD>
    <TD align=left width="5%"><A
      href="#page_32">2.4
      </A></TD>
    <TD align=left ><A
      href="#page_32">Date
      on Which Exercise is Effective </A></TD>
    <TD align=right width="5%"><A
      href="#page_32">32
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="3%" align=left  bgColor=#eeeeee>&nbsp;</TD>
    <TD align=left width="5%" bgColor=#eeeeee><A
      href="#page_32">2.5
      </A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_32">Execution,
      Authentication, Delivery and Dating of Rights Certificates </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee><A
      href="#page_32">32
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="3%" align=left >&nbsp;</TD>
    <TD align=left width="5%"><A
      href="#page_33">2.6
      </A></TD>
    <TD align=left ><A
      href="#page_33">Registration,
      Transfer and Exchange </A></TD>
    <TD align=right width="5%"><A
      href="#page_33">33
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="3%" align=left  bgColor=#eeeeee>&nbsp;</TD>
    <TD align=left width="5%" bgColor=#eeeeee><A
      href="#page_34">2.7
      </A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_34">Mutilated,
      Lost, Stolen and Destroyed Rights Certificates </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee><A
      href="#page_34">34
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="3%" align=left >&nbsp;</TD>
    <TD align=left width="5%"><A
      href="#page_34">2.8
      </A></TD>
    <TD align=left ><A
      href="#page_34">Persons
      Deemed Owners </A></TD>
    <TD align=right width="5%"><A
      href="#page_34">34
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="3%" align=left  bgColor=#eeeeee>&nbsp;</TD>
    <TD align=left width="5%" bgColor=#eeeeee><A
      href="#page_34">2.9
      </A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_34">Delivery
      and Cancellation of Certificates </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee><A
      href="#page_34">34
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="3%" align=left >&nbsp;</TD>
    <TD align=left width="5%"><A
      href="#page_35">2.10
      </A></TD>
    <TD align=left ><A
      href="#page_35">Agreement
      of Rights Holders </A></TD>
    <TD align=right width="5%"><A
      href="#page_35">35
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="3%" align=left  bgColor=#eeeeee>&nbsp;</TD>
    <TD align=left width="5%" bgColor=#eeeeee><A
      href="#page_36">2.11
      </A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_36">Exclusion
      of Warranty by Rights Agent </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee><A
      href="#page_36">36
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD colspan="3" align=left ><A
      href="#page_36"><STRONG>ARTICLE
      3 ADJUSTMENTS TO THE RIGHTS</STRONG> </A></TD>
    <TD align=right width="5%"><A
      href="#page_36"><B>36</B>
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="3%" align=left  bgColor=#eeeeee>&nbsp;</TD>
    <TD align=left width="5%" bgColor=#eeeeee><A
      href="#page_36">3.1
      </A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_36">Flip-in
      Event </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee><A
      href="#page_36">36
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="3%" align=left >&nbsp;</TD>
    <TD align=left width="5%"><A
      href="#page_37">3.2
      </A></TD>
    <TD align=left ><A
      href="#page_37">Fiduciary
      Duties of the Board of Directors </A></TD>
    <TD align=right width="5%"><A
      href="#page_37">37
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD colspan="3" align=left  bgColor=#eeeeee><A
      href="#page_38"><STRONG>ARTICLE
      4 THE RIGHTS AGENT</STRONG> </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee><A
      href="#page_38"><B>38</B>
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="3%" align=left >&nbsp;</TD>
    <TD align=left width="5%"><A
      href="#page_38">4.1
      </A></TD>
    <TD align=left ><A
      href="#page_38">General
      </A></TD>
    <TD align=right width="5%"><A
      href="#page_38">38
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="3%" align=left  bgColor=#eeeeee>&nbsp;</TD>
    <TD align=left width="5%" bgColor=#eeeeee><A
      href="#page_39">4.2
      </A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_39">Merger,
      Amalgamation, Consolidation or Change of Name of Rights Agent </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee><A
      href="#page_39">39
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="3%" align=left >&nbsp;</TD>
    <TD align=left width="5%"><A
      href="#page_40">4.3
      </A></TD>
    <TD align=left ><A
      href="#page_40">Duties
      of Rights Agent </A></TD>
    <TD align=right width="5%"><A
      href="#page_40">40
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="3%" align=left  bgColor=#eeeeee>&nbsp;</TD>
    <TD align=left width="5%" bgColor=#eeeeee><A
      href="#page_41">4.4
      </A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_41">Change
      of Rights Agent </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee><A
      href="#page_41">41
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="3%" align=left >&nbsp;</TD>
    <TD align=left width="5%"><A
      href="#page_42">4.5
      </A></TD>
    <TD align=left ><A
      href="#page_42">Compliance
      with Anti-Money Laundering Legislation </A></TD>
    <TD align=right width="5%"><A
      href="#page_42">42
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="3%" align=left  bgColor=#eeeeee>&nbsp;</TD>
    <TD align=left width="5%" bgColor=#eeeeee><A
      href="#page_42">4.6
      </A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_42">Privacy
      Legislation </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee><A
      href="#page_42">42
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD colspan="3" align=left ><A
      href="#page_43"><STRONG>ARTICLE
      5 MISCELLANEOUS</STRONG> </A></TD>
    <TD align=right width="5%"><A
      href="#page_43"><B>43</B>
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="3%" align=left  bgColor=#eeeeee>&nbsp;</TD>
    <TD align=left width="5%" bgColor=#eeeeee><A
      href="#page_43">5.1
      </A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_43">Redemption,
      Waiver, Extension and Termination </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee><A
      href="#page_43">43
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="3%" align=left >&nbsp;</TD>
    <TD align=left width="5%"><A
      href="#page_45">5.2
      </A></TD>
    <TD align=left ><A
      href="#page_45">Expiration
      </A></TD>
    <TD align=right width="5%"><A
      href="#page_45">45
      </A></TD>
  </TR></TABLE>
</DIV><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_3></A>
<P align=center>- 3 - </P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=3 width="100%" border=0>

  <TR vAlign=top>
    <TD width="3%" align=left bgColor=#eeeeee >&nbsp;</TD>
    <TD align=left width="5%" bgColor=#eeeeee><A href="#page_45">5.3 </A></TD>
    <TD align=left bgColor=#eeeeee><A href="#page_45">Issuance of
      New Rights Certificates </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee><A href="#page_45">45
</A></TD></TR>
  <TR vAlign=top>
    <TD width="3%" align=left >&nbsp;</TD>
    <TD align=left width="5%"><A href="#page_45">5.4 </A></TD>
    <TD align=left><A href="#page_45">Supplements and Amendments
      </A></TD>
    <TD align=right width="5%"><A href="#page_45">45 </A></TD></TR>
  <TR vAlign=top>
    <TD width="3%" align=left bgColor=#eeeeee >&nbsp;</TD>
    <TD align=left width="5%" bgColor=#eeeeee><A href="#page_47">5.5 </A></TD>
    <TD align=left bgColor=#eeeeee><A href="#page_47">Fractional
      Rights and Fractional Shares </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee><A href="#page_47">47
</A></TD></TR>
  <TR vAlign=top>
    <TD width="3%" align=left >&nbsp;</TD>
    <TD align=left width="5%"><A href="#page_47">5.6 </A></TD>
    <TD align=left><A href="#page_47">Rights of Action </A></TD>
    <TD align=right width="5%"><A href="#page_47">47 </A></TD></TR>
  <TR vAlign=top>
    <TD width="3%" align=left bgColor=#eeeeee >&nbsp;</TD>
    <TD align=left width="5%" bgColor=#eeeeee><A href="#page_47">5.7 </A></TD>
    <TD align=left bgColor=#eeeeee><A href="#page_47">Holder of
      Rights Not Deemed a Shareholder </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee><A href="#page_47">47
</A></TD></TR>
  <TR vAlign=top>
    <TD width="3%" align=left >&nbsp;</TD>
    <TD align=left width="5%"><A href="#page_48">5.8 </A></TD>
    <TD align=left><A href="#page_48">Notice of Proposed Actions
      </A></TD>
    <TD align=right width="5%"><A href="#page_48">48 </A></TD></TR>
  <TR vAlign=top>
    <TD width="3%" align=left bgColor=#eeeeee >&nbsp;</TD>
    <TD align=left width="5%" bgColor=#eeeeee><A href="#page_48">5.9 </A></TD>
    <TD align=left bgColor=#eeeeee><A href="#page_48">Notices
    </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee><A href="#page_48">48
</A></TD></TR>
  <TR vAlign=top>
    <TD width="3%" align=left >&nbsp;</TD>
    <TD align=left width="5%"><A href="#page_48">5.10 </A></TD>
    <TD align=left><A href="#page_48">Costs of Enforcement </A></TD>
    <TD align=right width="5%"><A href="#page_48">48 </A></TD></TR>
  <TR vAlign=top>
    <TD width="3%" align=left bgColor=#eeeeee >&nbsp;</TD>
    <TD align=left width="5%" bgColor=#eeeeee><A href="#page_49">5.11 </A></TD>
    <TD align=left bgColor=#eeeeee><A href="#page_49">Regulatory
      Approvals </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee><A href="#page_49">49
</A></TD></TR>
  <TR vAlign=top>
    <TD width="3%" align=left >&nbsp;</TD>
    <TD align=left width="5%"><A href="#page_49">5.12 </A></TD>
    <TD align=left><A href="#page_49">Declaration as to
      Non-Canadian and Non-United States Holders </A></TD>
    <TD align=right width="5%"><A href="#page_49">49 </A></TD></TR>
  <TR vAlign=top>
    <TD width="3%" align=left bgColor=#eeeeee >&nbsp;</TD>
    <TD align=left width="5%" bgColor=#eeeeee><A href="#page_49">5.13 </A></TD>
    <TD align=left bgColor=#eeeeee><A href="#page_49">Successors
      </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee><A href="#page_49">49
</A></TD></TR>
  <TR vAlign=top>
    <TD width="3%" align=left >&nbsp;</TD>
    <TD align=left width="5%"><A href="#page_49">5.14 </A></TD>
    <TD align=left><A href="#page_49">Benefits of this Agreement
      </A></TD>
    <TD align=right width="5%"><A href="#page_49">49 </A></TD></TR>
  <TR vAlign=top>
    <TD width="3%" align=left bgColor=#eeeeee >&nbsp;</TD>
    <TD align=left width="5%" bgColor=#eeeeee><A href="#page_49">5.15 </A></TD>
    <TD align=left bgColor=#eeeeee><A href="#page_49">Shareholder
      Reconfirmation </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee><A href="#page_49">49
</A></TD></TR>
  <TR vAlign=top>
    <TD width="3%" align=left >&nbsp;</TD>
    <TD align=left width="5%"><A href="#page_50">5.16 </A></TD>
    <TD align=left><A href="#page_50">Determinations and Actions
      by the Board of Directors </A></TD>
    <TD align=right width="5%"><A href="#page_50">50 </A></TD></TR>
  <TR vAlign=top>
    <TD width="3%" align=left bgColor=#eeeeee >&nbsp;</TD>
    <TD align=left width="5%" bgColor=#eeeeee><A href="#page_50">5.17 </A></TD>
    <TD align=left bgColor=#eeeeee><A href="#page_50">Force
      Majeure </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee><A href="#page_50">50
</A></TD></TR>
  <TR vAlign=top>
    <TD width="3%" align=left >&nbsp;</TD>
    <TD align=left width="5%"><A href="#page_50">5.18 </A></TD>
    <TD align=left><A href="#page_50">Governing Law </A></TD>
    <TD align=right width="5%"><A href="#page_50">50 </A></TD></TR>
  <TR vAlign=top>
    <TD width="3%" align=left bgColor=#eeeeee >&nbsp;</TD>
    <TD align=left width="5%" bgColor=#eeeeee><A href="#page_50">5.19 </A></TD>
    <TD align=left bgColor=#eeeeee><A href="#page_50">Language
    </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee><A href="#page_50">50
</A></TD></TR>
  <TR vAlign=top>
    <TD width="3%" align=left >&nbsp;</TD>
    <TD align=left width="5%"><A href="#page_50">5.20 </A></TD>
    <TD align=left><A href="#page_50">Severability </A></TD>
    <TD align=right width="5%"><A href="#page_50">50 </A></TD></TR>
  <TR vAlign=top>
    <TD width="3%" align=left bgColor=#eeeeee >&nbsp;</TD>
    <TD align=left width="5%" bgColor=#eeeeee><A href="#page_51">5.21 </A></TD>
    <TD align=left bgColor=#eeeeee><A href="#page_51">Effective
      Date </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee><A href="#page_51">51
</A></TD></TR>
  <TR vAlign=top>
    <TD width="3%" align=left >&nbsp;</TD>
    <TD align=left width="5%"><A href="#page_51">5.22 </A></TD>
    <TD align=left><A href="#page_51">Time of the Essence </A></TD>
    <TD align=right width="5%"><A href="#page_51">51 </A></TD></TR>
  <TR vAlign=top>
    <TD width="3%" align=left bgColor=#eeeeee >&nbsp;</TD>
    <TD align=left width="5%" bgColor=#eeeeee><A href="#page_51">5.23 </A></TD>
    <TD align=left bgColor=#eeeeee><A href="#page_51">Counterparts
      </A></TD>
    <TD align=right width="5%" bgColor=#eeeeee><A href="#page_51">51
  </A></TD></TR></TABLE></DIV><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_4></A>
<P align=center><B>SHAREHOLDER RIGHTS PLAN AGREEMENT </B></P>
<P align=justify><B>THIS AGREEMENT</B> is made as of the 4th day of October,
2018 between: </P>
<blockquote>
  <blockquote>
    <p align="justify"><B>AURORA CANNABIS INC.</B>, a corporation subsisting under the
      laws of British Columbia (&#147;<B>Aurora</B>&#148; or the &#147;<B>Corporation</B>&#148;) </p>
    <p align="justify">and </p>
    <p align="justify"><B>COMPUTERSHARE TRUST COMPANY OF CANADA</B>, a trust company
      incorporated under the laws of Canada (the &#147;<B>Rights Agent</B>&#148;) </p>
  </blockquote>
</blockquote>
<P align=justify><B>WHEREAS</B> the Board has determined that it is advisable to
adopt a shareholder rights plan to ensure, to the extent possible, that all
shareholders of the Corporation are treated fairly and equally in connection
with any take-over offer for the Corporation or other acquisition of control of
the Corporation; </P>
<P align=justify><B>AND WHEREAS</B> each Right (as defined herein) issued
pursuant to this Agreement entitles the holder thereof, from and after the
Separation Time (as defined herein) , to purchase securities of the Corporation
pursuant to the terms and subject to the conditions set forth herein; </P>
<P align=justify><B>AND WHEREAS</B> the Corporation desires to appoint the
Rights Agent to act on behalf of the Corporation and the holders of Rights, and
the Rights Agent is willing to so act, in connection with the issuance,
transfer, exchange and replacement of Rights Certificates (as defined herein),
the exercise of Rights and other matters referred to herein; </P>
<P align=justify><B>NOW THEREFOR</B>E, in consideration of the premises and the
respective covenants and agreements set forth herein, the Corporation and the
Rights Agent hereby agree as follows: </P>
<P align=center><B>ARTICLE 1</B><B> </B><BR><B>INTERPRETATION </B><BR></P>
<P align=justify><STRONG>1.1&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<STRONG>Certain Definitions </STRONG></P>
<P align=justify>For the purposes of this Agreement, including the recitals
hereto, the following terms have the meanings indicated: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>&#147;<B>Acquiring Person</B>&#148; means any Person who is the
      Beneficial Owner of 20% or more of the then outstanding Voting Shares, but
      does not include:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>the Corporation or any Subsidiary of the
    Corporation;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>any Person who becomes the Beneficial Owner of 20% or
      more of the then outstanding Voting Shares as a result of one or any
      combination of:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(A) </TD>
    <TD>
      <P align=justify>a Voting Share Reduction,</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(B) </TD>
    <TD>
      <P align=justify>a Permitted Bid Acquisition,</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(C) </TD>
    <TD>
      <P align=justify>an Exempt Acquisition,</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(D) </TD>
    <TD>
      <P align=justify>a Convertible Security Acquisition,
or</P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_5></A>
<P align=center>- 5 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(E) </TD>
    <TD>
      <P align=justify>a Pro Rata Acquisition,</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD align=left>
      <P align=justify>provided, however, that if a Person becomes the
      Beneficial Owner of 20% or more of the then outstanding Voting Shares by
      reason of one or any combination of a Voting Share Reduction, a Permitted
      Bid Acquisition, an Exempt Acquisition, a Convertible Security Acquisition
      or a Pro Rata Acquisition, and thereafter becomes the Beneficial Owner of
      an additional 1% or more of the then outstanding Voting Shares (other than
      pursuant to a Voting Share Reduction, a Permitted Bid Acquisition, an
      Exempt Acquisition, a Convertible Security Acquisition or a Pro Rata
      Acquisition or any combination thereof), then, as of the date that such
      Person becomes the Beneficial Owner of such additional Voting Shares, such
      Person shall become an &#147;Acquiring Person&#148;;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>
      <P align=justify>&nbsp;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD align=left>
      <P align=justify>for the period of 10 days after the Disqualification
      Date, any Person who becomes the Beneficial Owner of 20% or more of the
      outstanding Voting Shares as a result of such Person becoming disqualified
      from relying on subsection 1.1(e)(ii)(B) where such disqualification
      results solely because such Person is making or has announced an intention
      to make a Take- over Bid, either alone or by acting jointly or in concert
      with any other Person, unless such disqualified Person during such 10 day
      period acquires an additional 1% or more of the then outstanding Voting
      Shares. For the purposes of this definition, &#147;<B>Disqualification
      Date</B>&#148; means the first date of public announcement (which shall, for
      the purposes of this definition, include, without limitation, a report
      filed pursuant to Section 5.2(1) of NI 62-104, Section 13(d) of the
      <I>U.S. Exchange Act </I>or any other applicable securities laws, as
      amended from time to time and any provision substituted therefor) of facts
      indicating that such Person has or is making or has announced an intention
      to make a Take-over Bid alone or by acting jointly or in concert with any
      other Person; or;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>
      <P align=justify>&nbsp;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD align=left>
      <P align=justify>an underwriter or a member of a banking or selling group
      that becomes the Beneficial Owner of 20% or more of the Voting Shares in
      connection with a distribution of securities pursuant to an underwriting
      agreement with the Corporation; or</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>
      <P align=justify>&nbsp;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(v) </TD>
    <TD align=left>
      <P align=justify>a Person (a &#147;<B>Grandfathered Person</B>&#148;) who is the
      Beneficial Owner of more than 20% of the outstanding Voting Shares
      determined as at the Record Time, provided, however, that this exception
      shall not be, and shall cease to be, applicable to a Grandfathered Person
      in the event that such Grandfathered Person shall, after the Record Time:
      (1) cease to own more than 20% of the outstanding Voting Shares, or (2)
      become the Beneficial Owner of any additional Voting Shares that increases
      its Beneficial Ownership of Voting Shares by more than 1.0% of the number
      of Voting Shares outstanding as at the Record Time (other than pursuant to
      one or any combination of a Voting Share Reduction, a Permitted Bid
      Acquisition, an Exempt Acquisition, a Convertible Security Acquisition or
      a Pro Rata Acquisition).</P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_6></A>
<P align=center>- 6 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>&#147;<B>Affiliate</B>&#148;, when used to indicate a relationship
      with a specified Person, means a Person that directly, or indirectly
      through one or more intermediaries, controls, or is controlled by, or is
      under common control with, such specified Person.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>&#147;<B>Agreement</B>&#148; means this shareholder rights plan
      agreement between the Corporation and the Rights Agent, as amended,
      supplemented or restated from time to time.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>&#147;<B>Associate</B>&#148;, when used to indicate a relationship
      with a specified Person, means any relative of such specified Person who
      has the same home as such specified Person, or any person to whom such
      specified Person is married, or any person with whom such specified Person
      is living in a conjugal relationship outside marriage, or any relative of
      such spouse or other Person who has the same home as such specified
      Person.</P></TD></TR></TABLE><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 >
      <P align=justify>(e) </P></TD>
    <TD align=left width="5%" >
      <P align=justify>(i) </P></TD>
    <TD align=left width="85%">
      <P align=justify>A Person shall be deemed the &#147;Beneficial Owner&#148; of, and
      to have &#147;Beneficial Ownership&#148; of, and to &#147;Beneficially Own&#148;:
  </P></TD></TR></TABLE></DIV><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(A) </TD>
    <TD>
      <P align=justify>any securities as to which such Person or any of such
      Person&#146;s Affiliates or Associates is the owner at law or in
  equity;</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(B) </TD>
    <TD>
      <P align=justify>any securities as to which such Person or any of such
      Person&#146;s Affiliates or Associates has the right to become the owner at law
      or in equity, whether such right is exercisable immediately or within a
      period of 60 days thereafter and whether or not on the condition or
      occurrence of a contingency or the making of one or more payments, upon
      the conversion, exchange or exercise of any Convertible Security or
      pursuant to any agreement, arrangement, pledge or understanding, whether
      or not in writing, other than:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="20%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>customary agreements with and between underwriters and
      banking group or selling group members with respect to a distribution of
      securities;</P></TD></TR>
  <TR>
    <TD width="20%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="20%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>pledges of securities in the ordinary course of the
      pledgee&#146;s business; or</P></TD></TR>
  <TR>
    <TD width="20%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="20%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>agreements between the Corporation and any Person
      pursuant to an amalgamation, merger, arrangement, business combination or
      other similar transaction (statutory or otherwise, but for greater
      certainty not including a Take- over Bid) that is conditional upon the
      approval of the shareholders of the Corporation to be obtained prior to
      such Person acquiring such securities; and</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(C) </TD>
    <TD>
      <P align=justify>any securities that are Beneficially Owned within the
      meaning of subsections 1.1(e)(i)(A) or 1.1(e)(i)(B) by any other Person
      with which such Person is acting jointly or in
concert.</P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_7></A>
<P align=center>- 7 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>Notwithstanding the provisions of subsection 1.1(e)(i), a
      Person shall not be deemed the &#147;Beneficial Owner&#148; of, or to have
      &#147;Beneficial Ownership&#148; of, or to &#147;Beneficially Own&#148;, any security solely
      by reason of any one or more of the following
  circumstances:</P></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 width="15%"  ></TD>
    <TD align=left >
      <P align=justify>(A) </P></TD>
    <TD align=left width="5%" >
      <P align=justify>(a) </P></TD>
    <TD align=left width="75%">
      <P align=justify>the holder of such security having agreed to deposit or
      tender such security to a Take-over Bid made by such Person or any of such
      Person&#146;s Affiliates or Associates or any other Person with which such
      Person is acting jointly or in concert pursuant to a Permitted Lock-Up
      Agreement, or </P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="20%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>such security having been deposited or tendered pursuant
      to a Take-over Bid made by such Person or any of such Person&#146;s Affiliates
      or Associates or made by any other Person acting jointly or in concert
      with such Person until such deposited or tendered security has been taken
      up or paid for, whichever shall first occur;</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(B) </TD>
    <TD colSpan=2>
      <P align=justify>such Person, any Affiliate or Associate of such Person or
      any other Person acting jointly or in concert with such Person holding
      such security; provided that:</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>the ordinary business of such Person (the &#147;<B>Portfolio
      Manager</B>&#148;) includes the management or administration of investment
      funds for other Persons (which, for greater certainty, may include or be
      limited to one or more employee benefit plans or pension plans) and such
      security is held by the Portfolio Manager in the ordinary course of such
      business in the performance of the Portfolio Manager&#146;s duties for the
      account of any other Person (a &#147;<B>Client</B>&#148;), including
      non-discretionary accounts held on behalf of a Client by a registered
      broker or dealer,</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>the ordinary business of such Person (the &#147;<B>Fund
      Manager</B>&#148;) is manager or trustee of one or more mutual funds registered
      or qualified to issue its securities under the laws of Canada or the
      United States of America or any province or state thereof (each, a
      &#147;<B>Mutual Fund</B>&#148;), or such Person is a Mutual Fund, and holds such
      security for the purposes of its activity as such Fund Manager or Mutual
      Fund,</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>such Person (the &#147;<B>Trust Company</B>&#148;) is licensed to
      carry on the business of a trust company under applicable laws and, as
      such, acts as trustee or administrator or in a similar capacity in
      relation to the estates of deceased or incompetent Persons (each, an
      &#147;<B>Estate Account</B>&#148;) or in relation to other accounts (each, an
      &#147;<B>Other Account</B>&#148;) and holds such security in the ordinary course of
      such duties for such Estate Accounts or for such Other
  Accounts,</P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_8></A>
<P align=center>- 8 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="20%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>such Person (the &#147;<B>Crown Agent</B>&#148;) is established by
      statute for purposes that include, and the ordinary business or activity
      of such Person includes, the management of investment funds for employee
      benefit plans, pension plans and insurance plans of various public bodies,
      or</P></TD></TR>
  <TR>
    <TD width="20%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="20%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>such Person (the &#147;<B>Plan Administrator</B>&#148;) is the
      administrator or the trustee of one or more pension funds or plans
      registered under the laws of Canada, the United States of America, the
      European Union or any province, state or other political subdivision
      thereof (each, a &#147;<B>Plan</B>&#148;), or is a Plan, and holds such security for
      the purposes of its activity as such Plan Administrator or
  Plan,</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 15%" align=justify>provided; however, that in any of the
foregoing cases, the Portfolio Manager, the Fund Manager, the Mutual Fund, the
Trust Company, the Crown Agent, the Plan Administrator or the Plan, as the case
may be, is not then making or has not then announced an intention to make, a
Takeover Bid, other than an Offer to Acquire Voting Shares or other securities
pursuant to a distribution by the Corporation, a Permitted Bid or by means of
ordinary market transactions (including pre-arranged trades entered into in the
ordinary course of business of such Person) executed through the facilities of
the Exchange, alone or by acting jointly or in concert with any other Person;
</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(C) </TD>
    <TD>
      <P align=justify>such Person is a Client of the same Portfolio Manager as
      another Person on whose account the Portfolio Manager holds such security,
      or because such Person is an Estate Account or an Other Account of the
      same Trust Company as another Person on whose account the Trust Company
      holds such security or because such Person is a Plan with the same Plan
      Administrator as another Plan on whose account the Plan Administrator
      holds such security;</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(D) </TD>
    <TD>
      <P align=justify>such Person is a Client of a Portfolio Manager and such
      security is owned at law or in equity by the Portfolio Manager or because
      such Person is an Estate Account or an Other Account of a Trust Company
      and such security is owned at law or in equity by the Trust Company or
      such Person is a Plan and such security is owned at law or in equity by
      the Plan Administrator of such Plan; or</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(E) </TD>
    <TD>
      <P align=justify>such Person is the registered holder of securities as a
      result of carrying on the business, or acting as a nominee, of a
      securities depositary.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>&#147;<B>BCBCA</B>&#148; means the <I>Business Corporations
      Act</I>, S.B.C. 2002, c.57, as amended, and the regulations thereunder,
      and any comparable or successor laws or regulations
  thereto.</P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_9></A>
<P align=center>- 9 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD>
      <P align=justify>&#147;<B>Board of Directors</B>&#148; means the board of directors
      of the Corporation or any duly constituted and empowered committee
      thereof.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(h) </TD>
    <TD>
      <P align=justify>&#147;<B>Book Entry Form</B>&#148; means, in reference to
      securities, securities that have been issued and registered in
      uncertificated form and includes securities evidenced by an advice or
      other statement and securities which are maintained electronically on the
      records of the Corporation&#146;s transfer agent but for which no certificate
      has been issued.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>&#147;<B>Book Entry Rights Exercise Procedures</B>&#148; has the
      meaning ascribed thereto in subsection 2.2(c).</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(j) </TD>
    <TD>
      <P align=justify>&#147;<B>Business Day</B>&#148; means any day, other than a
      Saturday or Sunday or a day on which banking institutions in Vancouver,
      British Columbia are authorized or obligated by law to close.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(k) </TD>
    <TD>
      <P align=justify>&#147;<B>Canadian Dollar Equivalent</B>&#148; of any amount which
      is expressed in United States dollars means on any date the Canadian
      dollar equivalent of such amount determined by reference to the U.S. -
      Canadian Exchange Rate in effect on such date.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(l) </TD>
    <TD>
      <P align=justify>&#147;<B>Certificate</B>&#148; means either a physical paper
      certificate or a Direct Registration System (DRS) form evidencing the
      ownership of Common Shares or Rights.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(m) </TD>
    <TD>
      <P align=justify>&#147;<B>Close of Business</B>&#148; on any given date means the
      time on such date (or, if such date is not a Business Day, the time on the
      next succeeding Business Day) at which the principal office of the
      transfer agent for the Common Shares in Vancouver, British Columbia (or
      after the Separation Time, the principal office of the Rights Agent in
      Vancouver, British Columbia) is closed to the public; provided, however,
      that for the purposes of the definitions of &#147;Competing Permitted Bid&#148; and
      &#147;Permitted Bid&#148;, &#147;Close of Business&#148; on any date means 11:59 p.m. (local
      time at the place of deposit) on such date (or, if such date is not a
      Business Day, 11:59 p.m. (local time at the place of deposit) on the next
      succeeding Business Day).</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(n) </TD>
    <TD>
      <P align=justify>&#147;<B>Closing Price</B>&#148; per security of any securities on
      any date of determination means:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>the closing board lot sale price or, if such price is not
      available, the average of the closing bid and asked prices, for each of
      such securities as reported by the principal stock exchange or national
      securities quotation system on which such securities are listed or
      admitted to trading (provided that, if at the date of determination such
      securities are listed or admitted to trading on more than one stock
      exchange or national securities quotation system, then such price or
      prices shall be determined based upon the stock exchange or quotation
      system on which such securities are then listed or admitted to trading on
      which the largest number of such securities were traded during the most
      recently completed calendar year);</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>
<P align=center>- 10 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>if for any reason none of such prices is available on
      such day or the securities are not listed or admitted to trading on a
      stock exchange or a national securities quotation system, then the last
      sale price, or in case no sale takes place on such date, the average of
      the high bid and low asked prices for each of such securities in the
      over-the-counter market, as quoted by any reporting system then in
    use;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>if for any reason none of such prices is available on
      such day or the securities are not listed or admitted to trading on a
      stock exchange or a national securities quotation system or quoted by any
      such reporting system, then the average of the closing bid and asked
      prices as furnished by a professional market maker making a market in the
      securities selected in good faith by the Board of Directors; or</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>if for any reason none of such prices are available on
      such date, then the &#147;Closing Price&#148; per security of such securities on
      such date shall mean the fair value per security of the securities on such
      date as determined by a nationally or internationally recognized
      investment dealer or investment banker with respect to the fair value per
      security of such securities and, if the Closing Price so determined is
      expressed in United States dollars, then such amount shall be converted to
      the Canadian Dollar Equivalent.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(o) </TD>
    <TD>
      <P align=justify>&#147;<B>Common Shares</B>&#148; means the common shares in the
      share capital of the Corporation as presently constituted, as such shares
      may be subdivided, consolidated, reclassified or otherwise changed from
      time to time.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(p) </TD>
    <TD>
      <P align=justify>&#147;<B>Competing Permitted Bid</B>&#148; means a Take-over Bid
      that:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>is made after a Permitted Bid or another Competing
      Permitted Bid has been made and prior to the expiry, termination or
      withdrawal of such Permitted Bid or Competing Permitted Bid;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>satisfies all components of the definition of a Permitted
      Bid other than the requirement set forth in subsection 1.1(oo)(ii)(A) of
      the definition of a Permitted Bid; and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>contains, and the take-up and payment for securities
      tendered or deposited thereunder is subject to, an irrevocable and
      unqualified condition that no Voting Shares and/or Convertible Securities
      will be taken up or paid for pursuant to such Take-over Bid prior to the
      Close of Business on the last day of the minimum initial deposit period
      that such Take-over Bid must remain open for deposits of securities
      thereunder pursuant to NI 62-104 after the date of the Take-over Bid
      constituting the Competing Permitted Bid;</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 10%" align=justify>provided, however, that a Take-over
Bid that qualified as a Competing Permitted Bid shall cease to be a Competing
Permitted Bid at any time and as soon as such time as when such Take-over Bid
ceases to meet any or all of the provisions of this definition and any
acquisition of Voting Shares made pursuant to such Take-over Bid that qualified
as a Competing Permitted Bid, including any acquisition of Voting Shares made before such Take-over
      Bid ceased to be a Competing Permitted Bid, will not be a Permitted Bid
Acquisition.</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_11></A>
<P align=center>- 11 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(q) </TD>
    <TD>
      <P align=justify>&#147;<B>Controlled</B>&#148; means as
follows:</P></TD></TR></TABLE>
<BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>a body corporate is &#147;controlled&#148; by another Person or two
      or more Persons acting jointly or in concert
if:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(A) </TD>
    <TD>
      <P align=justify>securities entitled to vote in the election of directors
      of such body corporate carrying more than 50% of the votes for the
      election of directors are held, directly or indirectly, by or for the
      benefit of the other Person or Persons, and</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(B) </TD>
    <TD>
      <P align=justify>the votes carried by such securities are entitled, if
      exercised, to elect a majority of the board of directors of such body
      corporate; and</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>in the case of a Person that is not a body corporate, is
      &#147;controlled&#148; by another Person or two or more other Persons acting jointly
      or in concert if more than 50% of the voting or equity interests of such
      Person is held, directly or indirectly, by or for the benefit of the
      Person or Persons;</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>and &#147;<B>controls</B>&#148;, &#147;<B>controlling</B>&#148; and &#147;<B>under
      common control with</B>&#148; shall be interpreted accordingly.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(r) </TD>
    <TD>
      <P align=justify>&#147;<B>Convertible Security</B>&#148; means a security issued by
      the Corporation from time to time (other than the Rights) carrying any
      purchase, exercise, conversion or exchange right pursuant to which the
      holder thereof may acquire Voting Shares or other securities carrying any
      purchase, exercise, conversion or exchange right pursuant to which the
      holder thereof may acquire Voting Shares, directly or indirectly (in each
      case, whether such right is exercisable immediately or within or after a
      specified period and whether or not on condition or the happening of any
      contingency).</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(s) </TD>
    <TD>
      <P align=justify>&#147;<B>Convertible Security Acquisition</B>&#148; means the
      acquisition of Voting Shares by a Person upon the purchase, exercise,
      conversion or exchange of Convertible Securities acquired or received by
      such Person pursuant to a Permitted Bid Acquisition, an Exempt Acquisition
      or a Pro Rata Acquisition.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(t) </TD>
    <TD>
      <P align=justify>&#147;<B>Co-Rights Agent</B>&#148; has the meaning ascribed thereto
      in subsection 4.1(a).</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(u) </TD>
    <TD>
      <P align=justify>&#147;<B>Disposition Date</B>&#148; has the meaning ascribed
      thereto in subsection 5.1(b).</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(v) </TD>
    <TD>
      <P align=justify>&#147;<B>Dividend Reinvestment Acquisition</B>&#148; means an
      acquisition of Voting Shares and/or Convertible Securities of any class or
      series pursuant to a Dividend Reinvestment Plan.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(w) </TD>
    <TD>
      <P align=justify>&#147;<B>Dividend Reinvestment Plan</B>&#148; means a regular
      dividend reinvestment or other plan of the Corporation made available by
      the Corporation to holders of its securities where such plan permits the
      holder to direct that some or all of:</P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_12></A>
<P align=center>- 12 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>dividends paid in respect of shares of any class of the
      Corporation;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>proceeds of redemption of shares of the
    Corporation;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>interest paid on evidences of indebtedness of the
      Corporation; or</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>optional cash payments;</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 5%" align=justify>be applied to the purchase from the
Corporation of Voting Shares and/or Convertible Securities. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(x) </TD>
    <TD>
      <P align=justify>&#147;<B>Effective Date</B>&#148; means the later of November 30,
      2018 and the date on which this Agreement has been executed by the
      Corporation and the Rights Agent.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(y) </TD>
    <TD>
      <P align=justify>&#147;<B>Election to Exercise</B>&#148; has the meaning ascribed
      thereto in subsection 2.2(e)(ii).</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(z) </TD>
    <TD>
      <P align=justify>&#147;<B>Exchange</B>&#148; means the Toronto Stock Exchange and
      any other exchange on which the Common Shares may, from time to time, be
      listed for trading.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(aa) </TD>
    <TD>
      <P align=justify>&#147;<B>Exempt Acquisition</B>&#148; means an acquisition by a
      Person of Voting Shares and/or Convertible
Securities:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>in respect of which the Board of Directors has waived the
      application of Section 3.1 pursuant to the provisions of Section 5.1;
      or</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>made as an intermediate step in a series of related
      transactions in connection with an acquisition by the Corporation or its
      Subsidiaries of a Person or assets, provided that the Person who acquires
      such Voting Shares distributes or is deemed to distribute such Voting
      Shares to its securityholders within 10 Business Days of the completion of
      such acquisition, and following such distribution no Person has become the
      Beneficial Owner of 20% or more of the Corporation's then outstanding
      Voting Shares;</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(bb) </TD>
    <TD>
      <P align=justify>&#147;<B>Exercise Price</B>&#148; means, as of any date, the price
      at which a holder of a Right may purchase the securities issuable upon
      exercise of one whole Right in accordance with the terms hereof. Subject
      to adjustment in accordance with the terms hereof, the Exercise Price
      shall be:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>until the Separation Time, an amount equal to three times
      the Market Price, from time to time, per Common Share; and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>from and after the Separation Time, an amount equal to
      three times the Market Price as at the Trading Day immediately preceding
      the date of the related Flip-in Event, per Common
Share.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(cc) </TD>
    <TD>
      <P align=justify>&#147;<B>Expansion Factor</B>&#148; has the meaning ascribed
      thereto in subsection 2.3(b)(v)(A).</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(dd) </TD>
    <TD>
      <P align=justify>&#147;<B>Expiration Time</B>&#148; means the earlier
  of:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>the Termination Time; and</P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_13></A>
<P align=center>- 13 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>the Close of Business on that date on which a
      Reconfirmation Meeting occurs and at which this Agreement is not
      reconfirmed or presented for reconfirmation as contemplated in Section
      5.15.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(ee) </TD>
    <TD>
      <P align=justify>&#147;<B>Fiduciary</B>&#148; means, when acting in that capacity, a
      trust company registered under the trust company legislation of Canada or
      any province thereof, a trust company organized under the laws of any
      state of the United States, a portfolio manager registered under the
      securities legislation of one or more provinces of Canada or an investment
      adviser registered under the <I>United States Investment Advisers Act of
      1940</I>, as amended, or any other securities legislation of the United
      States or any state of the United States.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ff) </TD>
    <TD>
      <P align=justify>&#147;<B>Flip-in Event</B>&#148; means a transaction or event in or
      pursuant to which any Person becomes an Acquiring Person.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(gg) </TD>
    <TD>
      <P align=justify>&#147;<B>holder</B>&#148; has the meaning ascribed thereto in
      Section 2.8.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(hh) </TD>
    <TD>
      <P align=justify>&#147;<B>Independent Shareholders</B>&#148; means holders of
      outstanding Voting Shares, other than any:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>Acquiring Person;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>Offeror other than a Person who at the relevant time is
      deemed not to Beneficially Own such Voting Shares by reason of subsection
      1.1(e)(ii)(B);</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>Affiliate or Associate of such Acquiring Person or
      Offeror;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>Person acting jointly or in concert with any Person
      referred to in clauses (i), (ii) or (iii) of this definition; or</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(v) </TD>
    <TD>
      <P align=justify>employee benefit plan, stock purchase plan, deferred
      profit sharing plan or any similar plan or trust for the benefit of
      employees of the Corporation or a Subsidiary of the Corporation, unless
      the beneficiaries of such plan or trust direct the manner in which the
      Voting Shares are to be voted or withheld from voting or direct whether or
      not the Voting Shares are to be deposited or tendered to a Takeover
      Bid.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>&#147;<B>Market Price</B>&#148; per security of any securities on
      any date of determination means the average of the daily Closing Prices
      per security of such securities on each of the 20 consecutive Trading Days
      through to and including the Trading Day immediately preceding such date
      of determination; provided, however, that if an event of a type analogous
      to any of the events described in Section 2.3 shall have caused any
      Closing Price used to determine the Market Price on any Trading Day not to
      be fully comparable with the Closing Price on the Trading Day immediately
      preceding such date of determination, each such Closing Price so used
      shall be appropriately adjusted in a manner analogous to the applicable
      adjustment provided for in Section 2.3 in order to make it fully
      comparable with the Closing Price on the Trading Day immediately preceding
      such date of determination.</P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_14></A>
<P align=center>- 14 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(jj) </TD>
    <TD>
      <P align=justify>&#147;<B>NI 62-104</B>&#148; means National Instrument 62-104 <I>-
      Take-Over Bids and Issuer Bids </I>adopted by the Canadian securities
      regulatory authorities, as now in effect or as the same may from time to
      time be amended, re-enacted or replaced.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(kk) </TD>
    <TD>
      <P align=justify>&#147;<B>Nominee</B>&#148; has the meaning ascribed thereto in
      Section 2.2(c).</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ll) </TD>
    <TD>
      <P align=justify>&#147;<B>Offer to Acquire</B>&#148; shall
include:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>an offer to purchase or a solicitation of an offer to
      sell Voting Shares, or a public announcement of an intention to make such
      an offer or solicitation; and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>an acceptance of an offer to sell Voting Shares, whether
      or not such offer to sell has been solicited,</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>or any combination thereof, and the Person accepting an
      offer to sell shall be deemed to be making an Offer to Acquire to the
      Person that made the offer to sell.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(mm) </TD>
    <TD>
      <P align=justify>&#147;<B>Offeror</B>&#148; means a Person who has made a public
      announcement of a current intention to make, or who is making, a Take-over
      Bid (including a Permitted Bid or a Competing Permitted Bid).</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(nn) </TD>
    <TD>
      <P align=justify>&#147;<B>Offeror&#146;s Securities</B>&#148; means the aggregate of the
      Voting Shares Beneficially Owned by an Offeror on the date of an Offer to
      Acquire.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(oo) </TD>
    <TD>
      <P align=justify>&#147;<B>Permitted Bid</B>&#148; means a Take-over Bid made by an
      Offeror by way of take-over bid circular which also complies with the
      following additional provisions:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>the Take-over Bid is made to all holders of record of
      Voting Shares, other than the Offeror;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>the Take-over Bid contains, and the take-up and payment
      for securities tendered or deposited is subject to, an irrevocable and
      unqualified provision that no Voting Shares and/or Convertible Securities
      will be taken up or paid for pursuant to the Take-over
  Bid:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(A) </TD>
    <TD>
      <P align=justify>prior to the Close of Business on a date that is not less
      than 105 days following the date of the Take-over Bid or such shorter
      minimum period that a take-over bid that is not exempt from any of the
      requirements of Division 5 (Bid Mechanics) of NI 62-104 must remain open
      for deposits of securities thereunder, in the applicable circumstances at
      such time, pursuant to NI 62-104; and</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(B) </TD>
    <TD>
      <P align=justify>then only if, at the Close of Business on the date Voting
      Shares and/or Convertible Securities are first taken up or paid for under
      such Take-over Bid, more than 50% of the then Voting Shares held by
      Independent Shareholders have been deposited or tendered pursuant to the
      Take-over Bid and not withdrawn;</P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_15></A>
<P align=center>- 15 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>the Take-over Bid contains an irrevocable and unqualified
      provision that Voting Shares and/or Convertible Securities may be
      deposited or tendered pursuant to such Take-over Bid, unless such
      Take-over Bid is withdrawn, at any time prior to the Close of Business on
      the date Voting Shares and/or Convertible Securities are first taken up or
      paid for under the Take-over Bid;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>the Take-over Bid contains an irrevocable and unqualified
      provision that any Voting Shares and/or Convertible Securities deposited
      or tendered pursuant to the Take-over Bid may be withdrawn until taken up
      and paid for; and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(v) </TD>
    <TD>
      <P align=justify>the Take-over Bid contains an irrevocable and unqualified
      provision that in the event that the deposit condition set forth in
      subsection 1.1(oo)(ii)(B) is satisfied, the Offeror will make a public
      announcement of that fact and the Take-over Bid will remain open for
      deposits and tenders of Voting Shares and/or Convertible Securities for
      not less than 10 days from the date of such public
  announcement;</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>provided, however, that a Take-over Bid that qualified as
      a Permitted Bid shall cease to be a Permitted Bid at any time and as soon
      as such time as when such Take-over Bid ceases to meet any or all of the
      provisions of this definition, .</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(pp) </TD>
    <TD>
      <P align=justify>&#147;<B>Permitted Bid Acquisition</B>&#148; means an acquisition
      of Voting Shares and/or Convertible Securities made pursuant to a
      Permitted Bid or a Competing Permitted Bid; provided that for greater
      certainty, any acquisition of Voting Shares and/or Convertible Securities
      made pursuant to a Competing Permitted Bid or a Permitted Bid that ceased
      to be a Competing Permitted Bid or a Permitted Bid by reason of such
      acquisition ceasing to meet any or all of the provisions of the definition
      of &#147;Competing Permitted Bid&#148; or &#147;Permitted Bid&#148;, as applicable, including
      before such acquisition ceased to be a Competing Permitted Bid or
      Permitted Bid, as applicable, will not be a Permitted Bid
    Acquisition.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(qq) </TD>
    <TD>
      <P align=justify>&#147;<B>Permitted Lock-Up Agreement</B>&#148; means an agreement
      between a Person and one or more holders of Voting Shares and/or
      Convertible Securities (each a &#147;<B>Locked-Up Person</B>&#148;) pursuant to
      which such Locked-Up Person agrees to deposit or tender Voting Shares
      and/or Convertible Securities to a Take-over Bid (the &#147;<B>Lock-Up
      Bid</B>&#148;) made or to be made by such Person, any of such Person's
      Affiliates or Associates or any other Person with which such Person is
      acting jointly or in concert; provided that:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>the terms of such agreement are publicly disclosed and a
      copy of such agreement is made available to the public (including the
      Corporation) not later than the date of the Lock-Up Bid or, if the Lock-Up
      Bid has been made prior to the date on which such agreement is entered
      into, not later than the date of such agreement (or, if such date is not a
      Business Day, on the Business Day next following such date);</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>the agreement permits such Locked-Up Person to terminate
      its obligation to deposit or tender to or not to withdraw Voting Shares
      and/or Convertible Securities from the
Lock-Up Bid, and to terminate any obligation with respect to the voting of such
securities, in order to deposit or tender such securities to another Take-over
Bid or to support another transaction: </P></TD></TR></TABLE>
<BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_16></A>
<P align=center>- 16 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(A) </TD>
    <TD>
      <P align=justify>where the price or value of the consideration per Voting
      Share or Convertible Security offered under such other Take-over Bid or
      transaction:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="20%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>exceeds the price or value of the consideration per
      Voting Share and/or Convertible Security offered under the Lock- Up Bid;
      or</P></TD></TR>
  <TR>
    <TD width="20%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="20%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>exceeds by as much as or more than a specified amount
      (the &#147;<B>Specified Amount</B>&#148;) the price or value of the consideration
      per Voting Share or Convertible Security at which the Locked-Up Person has
      agreed to deposit or tender Voting Shares and/or Convertible Securities to
      the Lock-Up Bid, provided that such Specified Amount is not greater than
      7% of the price or value of the consideration per Voting Share or
      Convertible Security offered under the Lock-Up Bid;
and</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(B) </TD>
    <TD>
      <P align=justify>if the number of Voting Shares or Convertible Securities
      offered to be purchased under the Lock-Up Bid is less than 100% of the
      Voting Shares or Convertible Securities held by Independent Shareholders,
      where the price or value of the consideration per Voting Share or
      Convertible Security offered under such other Take-over Bid or transaction
      is not less than the price or value of the consideration per Voting Share
      or Convertible Security offered under the Lock-Up Bid and the number of
      Voting Shares and/or Convertible Securities to be purchased under such
      other Take- over Bid or transaction:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="20%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>exceeds the number of Voting Shares and/or Convertible
      Securities that the Offeror has offered to purchase under the Lock-Up Bid;
      or</P></TD></TR>
  <TR>
    <TD width="20%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="20%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>exceeds by as much as or more than a specified number
      (the &#147;<B>Specified Number</B>&#148;) the number of Voting Shares or Convertible
      Securities that the Offeror has offered to purchase under the Lock-Up Bid,
      provided that the Specified Number is not greater than 7% of the number of
      Voting Shares or Convertible Securities offered to be purchased under the
      Lock-Up Bid;</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 15%" align=justify>and for greater certainty, such
agreement may contain a right of first refusal or require a period of delay to
give the Offeror under the Lock-Up Bid an opportunity to match the higher price,
value or number in such other Take-over Bid or transaction, or other similar
limitation on a Locked-Up Person's right to withdraw Voting Shares from the
agreement, so long as the limitation does not preclude the exercise by the
      Locked-Up Person of the right to withdraw Voting Shares and/or Convertible
      Securities in sufficient time to deposit or tender to the other Take-over
Bid or support the other transaction; and</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_17></A>
<P align=center>- 17 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>no &#147;break-up&#148; fees, &#147;top-up&#148; fees, penalties, expenses or
      other amounts that exceed in the aggregate the greater
  of:</P></TD></TR></TABLE>
<BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="15%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(A) </TD>
    <TD>
      <P align=justify>the cash equivalent of 2.5% of the price or value of the
      consideration payable under the Lock-Up Bid to a Locked-Up Person,
    and</P></TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="15%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(B) </TD>
    <TD>
      <P align=justify>50% of the amount by which the price or value of the
      consideration payable under another Take-over Bid or other transaction to
      a Locked-Up Person exceeds the price or value of the consideration that
      such Locked-Up Person would have received under the Lock-Up
  Bid,</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 15%" align=justify>shall be payable by a Locked-Up Person
pursuant to the agreement in the event that the Locked-Up Bid is not
successfully concluded or if any Locked-Up Person fails to deposit or tender
Voting Shares and/or Convertible Securities to the Lock-Up Bid or withdraws
Voting Shares and/or Convertible Securities previously deposited or tendered
thereto in order to deposit or tender to another Take-over Bid or support
another transaction. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(rr) </TD>
    <TD>
      <P align=justify>&#147;<B>Person</B>&#148; includes any individual, firm,
      partnership, association, trust, trustee, executor, administrator, legal
      personal representative, government, governmental body or authority,
      corporation, or other incorporated or unincorporated organization,
      syndicate or other entity.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(ss) </TD>
    <TD>
      <P align=justify>&#147;<B>Privacy Laws</B>&#148; has the meaning set forth in
      Section 4.6.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(tt) </TD>
    <TD>
      <P align=justify>&#147;<B>Pro Rata Acquisition</B>&#148; means an acquisition by a
      Person of Voting Shares and/or Convertible Securities pursuant
  to:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>a Dividend Reinvestment Acquisition;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>a stock dividend, a stock split or other event pursuant
      to which such Person becomes the Beneficial Owner of Voting Shares and/or
      Convertible Securities on the same pro rata basis as all other holders of
      Voting Shares of the same class or series;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>any dividend reinvestment plan or other plan made
      available by the Corporation to holders of all of its Voting Shares (other
      than holders resident in any jurisdiction where participation in such plan
      is restricted or impractical to the Corporation as a result of applicable
      law);</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>the acquisition or exercise by the Person of only those
      rights to purchase Voting Shares and/or Convertible Securities distributed
      directly by the Corporation to that Person (and not acquired from any
      other Person) in the course of a distribution to all holders of securities
      of the Corporation of one or more particular classes or series pursuant to
  a rights offering; or</P></TD></TR></TABLE>
<BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_18></A>
<P align=center>- 18 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(v) </TD>
    <TD>
      <P align=justify>a distribution of Voting Shares and/or Convertible
      Securities made pursuant to a prospectus or by way of a private placement
      or a conversion or exchange of any Convertible
Security;</P></TD></TR></TABLE>
<BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>provided, however, that such Person does not thereby
      acquire a greater percentage of Voting Shares or of Convertible Securities
      so offered than such Person&#146;s percentage of Voting Shares Beneficially
      Owned immediately prior to such acquisition.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(uu) </TD>
    <TD>
      <P align=justify>&#147;<B>Reconfirmation Meeting</B>&#148; has the meaning set forth
      in Section 5.15.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(vv) </TD>
    <TD>
      <P align=justify>&#147;<B>Record Time</B>&#148; means 12:01 a.m. (Pacific Time) on
      the Effective Date.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ww) </TD>
    <TD>
      <P align=justify>&#147;<B>Redemption Price</B>&#148; has the meaning set forth in
      subsection 5.1(a).</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(xx) </TD>
    <TD>
      <P align=justify>&#147;<B>Regular Periodic Cash Dividend</B>&#148; means cash
      dividends paid on the Common Shares at regular intervals in any fiscal
      year of the Corporation to the extent that such cash dividends do not
      exceed in the aggregate in any fiscal year, on a per share basis, the
      greatest of:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>200% of the aggregate amount of cash dividends declared
      payable by the Corporation on its Common Shares in its immediately
      preceding fiscal year divided by the number of Common Shares outstanding
      as at the end of such fiscal year;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>250% of the arithmetic mean of the aggregate amounts of
      cash dividends declared payable by the Corporation on its Common Shares in
      its three immediately preceding fiscal years divided by the arithmetic
      mean of the number of Common Shares outstanding as at the end of each of
      such fiscal years; and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>100% of the aggregate consolidated net income of the
      Corporation, before extraordinary items, for its immediately preceding
      fiscal year divided by the number of Common Shares outstanding as at the
      end of such fiscal year.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(yy) </TD>
    <TD>
      <P align=justify>&#147;<B>Right</B>&#148; means a right to purchase securities upon
      the terms and subject to the conditions set forth in this
  Agreement.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(zz) </TD>
    <TD>
      <P align=justify>&#147;<B>Rights Certificates</B>&#148; means the certificates
      representing the Rights after the Separation Time, which shall be
      substantially in the form attached hereto as Schedule &#147;A&#148; or such other
      form as the Corporation and the Rights Agent may agree.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(aaa) </TD>
    <TD>
      <P align=justify>&#147;<B>Rights Register</B>&#148; and &#147;<B>Rights Registrar</B>&#148;
      have the respective meanings ascribed thereto in subsection
  2.6(a).</P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_19></A>
<P align=center>- 19 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(bbb) </TD>
    <TD>
      <P align=justify>&#147;<B>Securities Act (British Columbia)</B>&#148; means the
      <I>Securities Act</I>, RSBC 1996, c 418, as amended, and the rules and
      regulations made thereunder, as now in effect or as the same may from time
      to time be amended, re-enacted or replaced.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ccc) </TD>
    <TD>
      <P align=justify>&#147;<B>Separation Time</B>&#148; means the Close of Business on
      the tenth Trading Day after the earlier of:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>the Share Acquisition Date;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>the date of the commencement of, or first public
      announcement or disclosure of the intent of any Person (other than the
      Corporation or any Subsidiary of the Corporation) to commence, a Take-over
      Bid (other than a Permitted Bid or Competing Permitted Bid, so long as
      such Take-over Bid continues to satisfy the requirements of a Permitted
      Bid or Competing Permitted Bid); and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>the date on which a Permitted Bid or Competing Permitted
      Bid ceases to qualify as a Permitted Bid or Competing Permitted Bid, as
      applicable;</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>or such later date as may be determined by the Board of
      Directors in good faith, provided, however, that if any Take-over Bid
      referred to in subsection 1.1(ccc)(ii) above expires, is not made or is
      cancelled, terminated or otherwise withdrawn prior to the Separation Time,
      such Take-over Bid shall be deemed, for the purposes of this definition,
      never to have been commenced, made or announced and further provided that
      if the Board of Directors determines, pursuant to Section 5.1, to waive
      the application of Section 3.1 to a Flip-In Event, then the Separation
      Time in respect of such Flip-In Event shall be deemed never to have
      occurred.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ddd) </TD>
    <TD>
      <P align=justify>&#147;<B>Share Acquisition Date</B>&#148; means the first date of
      public announcement or disclosure by the Corporation or an Acquiring
      Person of facts indicating that a Person has become an Acquiring Person,
      which, for the purposes of this definition, shall include, without
      limitation, a report filed pursuant to Section 5.2 of NI 62-104, Section
      182.1 of the <I>Securities Act (British Columbia) </I>or subsection 13(d)
      of the <I>U.S. Exchange Act</I>, announcing or disclosing such
      information.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(eee) </TD>
    <TD>
      <P align=justify>&#147;<B>Subsidiary</B>&#148; a body corporate is a Subsidiary of
      another body corporate if:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>it is controlled by (A) that other, or (B) that other and
      one or more bodies corporate, each of which is controlled by that other,
      or (C) two or more bodies corporate, each of which is controlled by that
      other, or</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>it is a Subsidiary of a body corporate that is that
      others Subsidiary.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(fff) </TD>
    <TD>
      <P align=justify>&#147;<B>Take-over Bid</B>&#148; means an Offer to Acquire Voting
      Shares and/or Convertible Securities if, assuming that the Voting Shares
      and/or Convertible Securities subject to the Offer to Acquire are acquired
      and assuming they are Beneficially Owned at the date of such Offer to
      Acquire by the Person making such Offer to Acquire, such Voting Shares
      (including Voting Shares that may be acquired upon conversion of the
      Convertible Securities), together with the Offeror's
  Securities, constitute in the aggregate 20% or more of the then
  outstanding Voting Shares at the date of the Offer to Acquire.</P></TD></TR></TABLE>
<BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_20></A>
<P align=center>- 20 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ggg) </TD>
    <TD>
      <P align=justify>&#147;<B>Termination Time</B>&#148; means the time at which the
      right to exercise Rights shall terminate pursuant to Section
5.1.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(hhh) </TD>
    <TD>
      <P align=justify>&#147;<B>Trading Day</B>&#148;, when used with respect to any
      securities, means a day on which the principal Canadian or United States
      securities exchange (as determined by the Board of Directors) on which
      such securities are listed or admitted to trading is open for the
      transaction of business or, if the securities are not listed or admitted
      to trading on any Canadian or United States securities exchange, a
      Business Day.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>&#147;<B>U.S. - Canadian Exchange Rate</B>&#148; on any date
      means:</P></TD></TR></TABLE>
<BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>if on such date the Bank of Canada sets a daily average
      rate of exchange for the conversion of one United States dollar into
      Canadian dollars, such rate; and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>in any other case, the rate on such date for the
      conversion of one United States dollar into Canadian dollars which is
      calculated in the manner which shall be determined by the Board of
      Directors from time to time acting in good
faith.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(jjj) </TD>
    <TD>
      <P align=justify>&#147;<B>U.S. Exchange Act</B>&#148; means the <I>United States
      Securities Exchange Act of 1934</I>, as amended, and the rules and
      regulations thereunder as from time to time in effect, and any comparable
      or successor laws, rules or regulations thereto.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(kkk) </TD>
    <TD>
      <P align=justify>&#147;<B>U.S. Securities Act</B>&#148; means the <I>United States
      Securities Act of 1933</I>, as amended, and the rules and regulations
      thereunder, and any comparable or successor laws, rules or regulations
      thereto.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(lll) </TD>
    <TD>
      <P align=justify>&#147;<B>Voting Share Reduction</B>&#148; means an acquisition or a
      redemption by the Corporation of Voting Shares and/or Convertible
      Securities which, by reducing the number of then outstanding Voting Shares
      and/or Convertible Securities of a class or series, increases the
      percentage of Voting Shares Beneficially Owned by any Person.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(mmm) </TD>
    <TD>
      <P align=justify>&#147;<B>Voting Shares</B>&#148; means, collectively, the Common
      Shares and any other securities in the capital of the Corporation, the
      holders of which are entitled to vote generally in the election of
      directors of the Board of Directors and &#147;Voting Shares&#148;, when used with
      reference to any Person other than the Corporation, means common shares
      (or equivalent) of such other Person and any other securities the holders
      of which are entitled to vote generally in the election of the directors
      or to otherwise affect control of such other
Person.</P></TD></TR></TABLE>
<P align=justify><STRONG>1.2&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<STRONG>Currency </STRONG></P>
<P align=justify>All sums of money which are referred to in this Agreement are
expressed in lawful money of Canada, unless otherwise specified. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_21></A>
<P align=center>- 21 - </P>
<P
align=justify><STRONG>1.3</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Number and Gender </STRONG></P>
<P align=justify>Wherever the context requires, terms (including defined terms)
used herein importing the singular number only include the plural and vice versa
and words importing any one gender include all others. </P>
<P align=justify><STRONG>1.4&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<STRONG>Sections </STRONG></P>
<P align=justify>The division of this Agreement into Articles, Sections,
subsections and Schedules are for convenience of reference only and shall not
affect the construction or interpretation of this Agreement. The terms this
&#147;Agreement&#148;, &#147;hereunder&#148;, &#147;hereof&#148;, and similar expressions refer to this
Agreement as amended or supplemented from time to time and not to any particular
Article, Section, subsection or Schedule or other portion hereof and include any
agreement or instrument supplemental or ancillary hereto. Unless something in
the subject matter or context is inconsistent therewith, references herein to
Articles, Sections, subsections and Schedules are to Articles, Sections,
subsections and Schedules of or to this Agreement. </P>
<P align=justify><STRONG>1.5&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<STRONG>Statutory References </STRONG></P>
<P align=justify>Unless the context otherwise requires, any reference to a
specific section, subsection, clause or rule of any act or regulation shall be
deemed to refer to the same as it may be amended, re-enacted or replaced or, if
repealed and there shall be no replacement therefor, to the same as it is in
effect on the date of this Agreement. </P>
<P align=justify><STRONG>1.6&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<STRONG>Calculation of Voting Shares Beneficially Owned </STRONG></P>
<P align=justify>For the purposes of this Agreement, the percentage of Voting
Shares Beneficially Owned by any Person, shall be and be deemed to be the
product determined by the formula: </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="10%" rowSpan=2  >&nbsp;</TD>
    <TD width="3%" rowSpan=2 align=left vAlign=center nowrap >100 X </TD>
    <TD align=left width="45%">&nbsp; <U>A </U></TD>
  <TD align=left width="42%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left width="45%">&nbsp; B </TD>
  <TD align=left width="42%">&nbsp;</TD></TR></TABLE>
<P style="MARGIN-LEFT: 10%" align=justify>where: </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="10%" ></TD>
    <TD align=left>A = </TD>
    <TD align=left width="85%">
      <P align=justify>the aggregate number of votes for the election of all
      directors generally attaching to the Voting Shares Beneficially Owned by
      such Person; and </P></TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="85%">&nbsp;    </TD>
  </TR>
  <TR vAlign=top>
    <TD width="10%"></TD>
    <TD align=left>B = </TD>
    <TD align=left width="85%">
      <P align=justify>the aggregate number of votes for the election of all
      directors generally attaching to all outstanding Voting Shares.
  </P></TD></TR></TABLE>
<P align=justify>Where any Person is deemed to Beneficially Own unissued Voting
Shares pursuant to subsection 1.1(e), such Voting Shares shall be deemed to be
outstanding for the purpose of both A and B in the formula above. </P>
<P align=justify><STRONG>1.7&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<STRONG>Acting Jointly or in Concert </STRONG></P>
<P align=justify>For the purposes of this Agreement, a Person is acting jointly
or in concert with every Person who is a party to an agreement, commitment or
understanding, whether formal or informal and whether or not in writing, with
the first Person to acquire, or make an Offer to Acquire, Voting Shares and/or
Convertible Securities (other than customary agreements with and between underwriters and banking or selling group members with respect
to a distribution of securities and pledges of securities in the ordinary course
of business to secure indebtedness). </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_22></A>
<P align=center>- 22 - </P>
<P
align=justify><STRONG>1.8</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Generally Accepted Accounting Principles </STRONG></P>
<P align=justify>Wherever in this Agreement reference is made to generally
accepted accounting principles, such reference shall be deemed to be the
recommendations at the relevant time of the Canadian Institute of Chartered
Accountants, or any successor institute, applicable on a consolidated basis
(unless otherwise specifically provided herein to be applicable on an
unconsolidated basis) as at the date on which a calculation is made or required
to be made in accordance with generally accepted accounting principles. Where
the character or amount of any asset or liability or item of revenue or expense
is required to be determined, or any consolidation or other accounting
computation is required to be made for the purpose of this Agreement or any
document, such determination or calculation shall, to the extent applicable and
except as otherwise specified herein or as otherwise agreed in writing by the
parties, be made in accordance with generally accepted accounting principles
applied on a consistent basis. </P>
<P align=center><B>ARTICLE 2</B><B> </B><BR><B>THE RIGHTS </B><BR></P>
<P align=justify><STRONG>2.1&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<STRONG>Issuance of Rights; Legend on Share Certificates </STRONG></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>One Right shall be issued at the Record Time in respect
      of each Voting Share issued and outstanding at the Record Time and one
      Right shall be issued in respect of each Voting Share issued after the
      Record Time and prior to the earlier of the Separation Time and the
      Expiration Time.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>Certificates representing any Common Shares (including
      without limitation Common Shares issued upon the conversion of Convertible
      Securities) issued after the issuance of the Rights, but prior to the
      Close of Business on the earlier of (iii) the Separation Time and (iv) the
      Expiration Time, shall also evidence one Right for each Common Share
      represented thereby and shall have impressed on, printed on, written on or
      otherwise affixed to them the following legend:</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>&#147;Until the Separation Time (as defined in the Rights
      Agreement referred to below), this certificate also evidences and entitles
      the holder hereof to certain Rights as set forth in a Shareholder Rights
      Plan Agreement, made as of November 30, 2018, as such agreement may from
      time to time be amended, restated, varied or replaced (the &#147;<B>Rights
      Agreement</B>&#148;), between Aurora Cannabis Inc. and Computershare Trust
      Company of Canada, as Rights Agent, the terms of which are hereby
      incorporated herein by reference and a copy of which is on file at the
      registered office of the Corporation and is available for viewing at
      www.sedar.com. Under certain circumstances, as set forth in the Rights
      Agreement, such Rights may be amended or redeemed, may expire, may become
      void (if, in certain cases, they are &#147;<B>Beneficially Owned</B>&#148; by an
      &#147;<B>Acquiring Person</B>&#148;, as such terms are defined in the Rights
      Agreement, or a transferee thereof) or may be evidenced by separate
      certificates and may no longer be evidenced by this certificate. The
      Corporation will mail or arrange for the mailing of a copy of the Rights
      Agreement to the holder of this certificate without charge as soon as practicable after the receipt
  of a written request therefor.&#148;</P></TD></TR></TABLE>
<BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_23></A>
<P align=center>- 23 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>Notwithstanding the foregoing, until the earlier of the
      Separation Time and the Expiration Time, certificates representing Voting
      Shares shall also evidence one Right for each Voting Share evidenced
      thereby, notwithstanding the absence of the foregoing legend.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>Any Voting Shares issued and registered in Book Entry
      Form prior to the earlier of the Separation Time and the Expiration Time
      shall evidence, in addition to the Voting Shares, one Right for each
      Voting Share represented thereby and the registration record of such
      Voting Shares shall include the foregoing legend, adapted accordingly as
      the Rights Agent may reasonably require.</P></TD></TR></TABLE>
<P
align=justify><STRONG>2.2</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Initial Exercise Price; Exercise of Rights; Detachment of Rights </STRONG></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>Subject to adjustment as herein set forth, including
      without limitation as set forth in Article 3, each Right will entitle the
      holder thereof, from and after the Separation Time and prior to the
      Expiration Time, to purchase one Common Share for the Exercise Price
      (which Exercise Price and number of Common Shares are subject to
      adjustment as set forth below). Notwithstanding any other provision of
      this Agreement, any Rights held by the Corporation or any of its
      Subsidiaries shall be null and void.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>Until the Separation Time:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>the Rights shall not be exercisable and no Right may be
      exercised; and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>for administrative purposes, each Right will be evidenced
      by the certificate for the associated Voting Share registered in the name
      of the holder thereof (which certificate shall be deemed to represent a
      Rights Certificate) or by Book Entry Form registration for the associated
      Voting Share and will be transferable only together with, and will be
      transferred by a transfer of, such associated Voting
  Share.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>From and after the Separation Time and prior to the
      Expiration Time, the Rights may be exercised, and the registration and
      transfer of the Rights shall be separate from and independent of Voting
      Shares. Promptly following the Separation Time, the Corporation will
      determine whether it wishes to issue Rights Certificates or whether it
      will maintain the Rights in Book Entry Form. In the event that the
      Corporation determines to maintain Rights in Book Entry Form, it will put
      in place such alternative procedures as are determined necessary in
      consultation with the Rights Agent for the Rights to be maintained in Book
      Entry Form (the &#147;<B>Book Entry Rights Exercise Procedures</B>&#148;), it being
      hereby acknowledged that such procedures shall, to the greatest extent
      possible, replicate in all substantive respects the procedures set out in
      this Agreement with respect to the exercise of the Rights Certificates and
      that the procedures set out in this Agreement shall be modified only to
      the extent necessary, as reasonably determined by the Rights Agent, to
      permit the Corporation to maintain the Rights in Book Entry Form. In such
      event, the Book Entry Rights Exercise Procedures shall be deemed to
      replace the procedures set out in this Agreement with respect to the
      exercise of Rights and all provisions of this Agreement referring to
      the Rights Certificates shall be applicable to Rights registered in Book
  Entry Form in like manner as the Rights in certificated form.</P></TD></TR></TABLE>
<BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_24></A>
<P align=center>- 24 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>In the event that the Corporation determines to issue
      Rights Certificates, then promptly following the Separation Time, the
      Corporation will prepare or cause to be prepared and the Rights Agent will
      mail to each holder of record of Voting Shares as of the Separation Time
      and, in respect of each Convertible Security converted into Voting Shares
      after the Separation Time and prior to the Expiration Time, promptly after
      such conversion, the Corporation will prepare or cause to be prepared and
      the Rights Agent will mail to the holder so converting (other than a
      Person indicated by the Corporation in writing to be an Acquiring Person
      and, in respect of any Rights Beneficially Owned by such Acquiring Person
      which are not held of record by such Acquiring Person, the holder of
      record of such rights as indicated by the Corporation in writing (a
      &#147;<B>Nominee</B>&#148;)) at such holder&#146;s address as shown by the records of the
      Corporation (the Corporation hereby agreeing to furnish copies of such
      records to the Rights Agent for this purpose):</P></TD></TR></TABLE>
<BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>a Rights Certificate in substantially the form of
      Schedule &#147;<B>A</B>&#148; appropriately completed, representing the number of
      Rights held by such holder at the Separation Time and having such marks of
      identification or designation and such legends, summaries or endorsements
      printed thereon as the Corporation may deem appropriate and as are not
      inconsistent with the provisions of this Agreement, or as may be required
      to comply with any law, rule or regulation or judicial or administrative
      order, or with any article or regulation of any self-regulatory
      organization, stock exchange or securities quotation system on which the
      Rights may from time to time be listed or traded, or to conform to usage;
      and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>a disclosure statement prepared by the Corporation
      describing the Rights, provided that a Nominee shall be sent the materials
      provided for in subsections 2.2(d)(i) and 2.2(d)(ii) only in respect of
      all Voting Shares held of record by it which are not Beneficially Owned by
      an Acquiring Person as indicated to the Rights Agent by the Corporation in
      writing, and the Corporation may require any Nominee or suspected Nominee
      to provide such information and documentation as the Corporation deems
      necessary or appropriate for such purpose.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>In the event that the Corporation determines to issue
      Rights Certificates, Rights may be exercised in whole or in part on any
      Business Day after the Separation Time and prior to the Expiration Time by
      submitting to the Rights Agent, at its principal office in Vancouver,
      British Columbia or Toronto, Ontario:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>the Rights Certificate evidencing such Rights;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>an election to exercise (an &#147;<B>Election to
      Exercise</B>&#148;), substantially in the form attached to the Rights
      Certificate duly completed, and executed in a manner acceptable to the
      Rights Agent; and</P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_25></A>
<P align=center>- 25 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>payment by certified cheque, banker&#146;s draft, money order
      or wire transfer payable to the order of the Corporation, of a sum equal
      to the Exercise Price multiplied by the number of Rights being exercised
      and a sum sufficient to cover any transfer tax or charge which may be
      payable in respect of any transfer involved in the transfer or delivery of
      Rights Certificates or the issuance or delivery of certificates for Common
      Shares in a name other than that of the holder of the Rights being
      exercised.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>In the event that the Corporation determines to issue
      Rights Certificates, then upon receipt of a Rights Certificate, together
      with an appropriately completed and duly executed Election to Exercise
      (which does not indicate that such Right is null and void as provided by
      subsection 3.1(b)) and payment as set forth in subsection 2.2(e), the
      Rights Agent (unless otherwise instructed in writing by the Corporation)
      will thereupon promptly:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>requisition from the transfer agent of the Common Shares
      certificates representing the number of Common Shares to be purchased (the
      Corporation hereby irrevocably authorizing its transfer agent to comply
      with all such requisitions);</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>after receipt of such Common Share certificates, deliver
      such certificates to, or to the order of, the registered holder of such
      Rights Certificate, registered in such name or names as may be designated
      by such holder in the Election to Exercise,</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>when appropriate, under Section 5.5, requisition from the
      Corporation the amount of cash, if any, to be paid in lieu of issuing
      fractional Common Shares;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>When appropriate, under Section 5.5, after receipt of the
      cash referred to in subsection 2.2(f)(iii), deliver such cash to, or to
      the order of, the registered holder of the Rights Certificate;
  and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(v) </TD>
    <TD>
      <P align=justify>tender to the Corporation all payments received on
      exercise of the Rights.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD>
      <P align=justify>If the holder of any Rights shall exercise less than all
      the Rights evidenced by such holder&#146;s Rights Certificate, a new Rights
      Certificate evidencing the Rights remaining unexercised will be issued by
      the Rights Agent to such holder or to such holder&#146;s duly authorized
      assigns.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(h) </TD>
    <TD>
      <P align=justify>The Corporation covenants and agrees that it
  will:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>take all such action as may be necessary and within its
      power to ensure that all Common Shares delivered upon the exercise of
      Rights shall, at the time of delivery of the certificates for such Common
      Shares (subject to payment of the Exercise Price), be duly and validly
      authorized, executed, issued and delivered as fully paid and
      non-assessable;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>take all such action as may reasonably be considered to
      be necessary and within its power to comply with any applicable
      requirements of the BCBCA, the <I>Securities Act (British Columbia)</I>,
      the <I>U.S. Exchange Act</I>, the<i> U.S. Securities Act </i>and comparable legislation of
      each of the other provinces and territories of Canada and states of the
      United States of America, or the rules and regulations thereunder or any
      other applicable law, rule or regulation, in connection with the issuance
      and delivery of the Rights, the Rights Certificates and the issuance of
  any Common Shares upon exercise of the Rights;</P></TD></TR></TABLE>
<BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_26></A>
<P align=center>- 26 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>use reasonable efforts to cause all Common Shares issued
      upon exercise of the Rights to be listed on each Exchange;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>cause to be reserved and kept available out of its
      authorized and unissued Common Shares, the number of Common Shares that,
      as provided in this Agreement, will from time to time be sufficient to
      permit the exercise in full of all outstanding Rights;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(v) </TD>
    <TD>
      <P align=justify>pay when due and payable, if applicable, any and all
      federal, provincial, state and municipal taxes (not in the nature of
      income, capital gains or withholding taxes) and charges which may be
      payable in respect of the original issuance or delivery of the Rights
      Certificates or certificates for Common Shares issued upon the exercise of
      Rights, provided that the Corporation shall not be required to pay any
      transfer tax or charge which may be payable in respect of any transfer of
      Rights or the issuance or delivery of certificates for Common Shares
      issued upon the exercise of Rights, in a name other than that of the
      holder of the Rights being transferred or exercised; and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(vi) </TD>
    <TD>
      <P align=justify>after the Separation Time, except as permitted by Section
      5.1 or Section 5.4, not take (or permit any Subsidiary to take) any action
      if at the time such action is taken it is reasonably foreseeable that such
      action will diminish substantially or otherwise eliminate the benefits
      intended to be afforded by the Rights.</P></TD></TR></TABLE>
<P align=justify><STRONG>2.3&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<STRONG>Adjustments to Exercise Price; Number of Rights </STRONG></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>The Exercise Price, the number and kind of securities
      subject to purchase upon exercise of each Right and the number of Rights
      outstanding are subject to adjustment from time to time as provided in
      this Section 2.3 and in Article 3.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>In the event that the Corporation shall at any time after
      the Record Time and prior to the Expiration
Time:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>subdivide or change the then-outstanding Common Shares
      into a greater number of Common Shares;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>consolidate or change the then-outstanding Common Shares
      into a smaller number of Common Shares;</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 5%" align=justify>or, in the event that the Corporation
shall at any time after the Separation Time and prior to the Expiration Time:
</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_27></A>
<P align=center>- 27 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>declare or pay a distribution on the Voting Shares
      payable in Voting Shares or Convertible Securities other than pursuant to
      any Dividend Reinvestment Plan; or</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>issue any Voting Shares (or Convertible Securities in
      respect thereof) in respect of, in lieu of or in exchange for existing
      Common Shares, whether in a reclassification, amalgamation, statutory
      arrangement, consolidation or otherwise,</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 10%" align=justify>then the Exercise Price and the number
of Rights outstanding (or, if the payment or effective date therefor shall occur
after the Separation Time, the securities purchasable upon the exercise of
Rights) shall be adjusted as follows (without duplication with respect to
Section 2.1): </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(v) </TD>
    <TD colSpan=2>
      <P align=justify>if the Exercise Price and number of Rights outstanding
      are to be adjusted:</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(A) </TD>
    <TD>
      <P align=justify>the Exercise Price in effect after such adjustment will
      be equal to the Exercise Price in effect immediately prior to such
      adjustment divided by the number of Common Shares (or other securities of
      the Corporation) (the &#147;<B>Expansion Factor</B>&#148;) that a holder of one
      Common Share immediately prior to such dividend, subdivision, change,
      consolidation or issuance would hold thereafter as a result thereof,
      and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(B) </TD>
    <TD>
      <P align=justify>each Right held prior to such adjustment will become that
      number of Rights equal to the Expansion Factor, and the adjusted number of
      Rights will be deemed to be allocated among the Common Shares with respect
      to which the original Rights were associated (if they remain outstanding)
      and the securities of the Corporation issued in respect of such dividend,
      subdivision, change, consolidation or issuance, so that each such Common
      Share (or other security of the Corporation) will have exactly one Right
      associated with it, and</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(vi) </TD>
    <TD>
      <P align=justify>for greater certainty, if the securities purchasable upon
      exercise of Rights are to be adjusted, the securities purchasable upon
      exercise of each Right after such adjustment will be the securities that a
      holder of the securities purchasable upon exercise of one Right
      immediately prior to such dividend, subdivision, change, consolidation or
      issuance would hold thereafter as a result
thereof.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>Adjustments made pursuant to this subsection 2.3(b) shall
      be made successively, whenever an event referred to in this subsection
      2.3(b)occurs.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>If, after the Record Time and prior to the Expiration
      Time, the Corporation shall issue any of its securities other than Common
      Shares in a transaction of a type described in subsections 2.3(b)(iii) or
      2.3(b)(iv), such securities shall be treated herein as nearly equivalent
      to Common Shares as may be practicable and appropriate under the
      circumstances and the Corporation and the Rights Agent agree to amend,
      supplement or restate this Agreement in order to effect such
    treatment.</P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_28></A>
<P align=center>- 28 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>If an event occurs which would require an adjustment
      under both this Section 2.3 and Section 3.1, the adjustment provided for
      in this Section 2.3 shall be in addition to, and shall be made prior to,
      any adjustment required pursuant to Section 3.1.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>In the event the Corporation shall at any time after the
      Record Time and prior to the Separation Time issue any Common Shares
      otherwise than in a transaction referred to in subsection 2.3(b), each
      such Common Share so issued shall automatically have one new Right
      associated with it, which Right shall be evidenced by the certificate
      representing such associated Common Share (as provided in Section
    2.1).</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>In the event the Corporation shall, at any time after the
      Record Time and prior to the Separation Time, fix a record date for the
      making of a distribution to all holders of Common Shares of rights or
      warrants entitling them (for a period expiring within 45 calendar days
      after such record date) to subscribe for or purchase Common Shares (or
      Convertible Securities in respect of Common Shares) at a price per Common
      Share (or, in the case of such a Convertible Security, having a
      conversion, exchange or exercise price per security (including the price
      required to be paid to purchase such Convertible Security)) less than 90%
      of the Market Price per Common Share on such record date, the Exercise
      Price in effect after such record date will equal the Exercise Price in
      effect immediately prior to such record date multiplied by a fraction of
      which:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>the numerator shall be the number of Common Shares
      outstanding on such record date plus the number of Common Shares which the
      aggregate offering price of the total number of Common Shares so to be
      offered (and/or the aggregate initial conversion, exchange or exercise
      price of the Convertible Securities so to be offered (including the price
      required to be paid to purchase such Convertible Securities)) would
      purchase at such Market Price per Common Share; and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>the denominator shall be the number of Common Shares
      outstanding on such record date plus the number of additional Common
      Shares to be offered for subscription or purchase (or into which the
      Convertible Securities so to be offered are initially convertible,
      exchangeable or exercisable).</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>In case such subscription price is satisfied, in whole or
      in part, by consideration other than cash, the value of such consideration
      shall be as determined in good faith by the Board of Directors. Such
      adjustment shall be made successively whenever such a record date is
      fixed. To the extent that such rights or warrants are not exercised prior
      to the expiration thereof, the Exercise Price shall be readjusted in the
      manner contemplated above based on the number of Common Shares (or
      securities convertible into or exchangeable for Common Shares) actually
      issued upon the exercise of such rights or warrants.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD>
      <P align=justify>For purposes of this Agreement, the granting of the right
      to purchase Common Shares (whether from treasury or otherwise) pursuant to
      any Dividend Reinvestment Plan or any share purchase plan providing for
      the reinvestment of dividends or interest payable on securities of the
      Corporation or the investment of periodic optional payments or employee benefit or stock
      option or similar plans (so long as such right to purchase is in no case
      evidenced by the delivery of rights or warrants by the Corporation) shall
      not be deemed to constitute an issue of rights or warrants by the
      Corporation; provided, however, that in the case of any Dividend
      Reinvestment Plan or share purchase plan, the right to purchase Common
      Shares is at a price per security of not less than 90% of the current
      market price per share (determined as provided in such plans) of the
  Common Shares.</P></TD></TR></TABLE>
<BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_29></A>
<P align=center>- 29 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(h) </TD>
    <TD>
      <P align=justify>In the event the Corporation shall at any time after the
      Record Time and prior to the Separation Time fix a record date for the
      making of a distribution to all holders of Common Shares
  of:</P></TD></TR></TABLE>
<BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>evidences of indebtedness or assets (other than a Regular
      Periodic Cash Dividend or a dividend paid in Common Shares, but including
      any dividend payable in securities other than Common Shares); or</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>rights or warrants entitling them to subscribe for or
      purchase Voting Shares other than Common Shares (or Convertible Securities
      in respect of the Voting Shares other than Common Shares), at a price per
      Voting Share (or, in the case of a Convertible Security in respect of
      Voting Shares, having a conversion, exchange or exercise price per
      security (including the price required to be paid to purchase such
      Convertible Security)) less than 90% of the Market Price per Common Share
      on such record date (excluding rights or warrants referred to in
      subsection 2.3(f)),</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>the Exercise Price in effect after such record date shall
      be equal to the Exercise Price in effect immediately prior to such record
      date less the fair market value (as determined in good faith by the Board
      of Directors) of the portion of the assets, evidences of indebtedness,
      rights, warrants or other securities so to be distributed applicable to
      each of the securities purchasable upon exercise of one Right. Such
      adjustment shall be made successively whenever such a record date is
      fixed.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>Each adjustment made pursuant to this Section 2.3 shall
      be made as of:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>the payment or effective date for the applicable
      dividend, subdivision, change, consolidation or issuance, in the case of
      an adjustment made pursuant to subsection 2.3(b); and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>the record date for the applicable dividend or
      distribution, in the case of an adjustment made pursuant to subsections
      2.3(f) or 2.3(h), subject to readjustment to reverse the same if such
      distribution shall not be made.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(j) </TD>
    <TD>
      <P align=justify>In the event the Corporation shall at any time after the
      Record Time and prior to the Separation Time issue any securities (other
      than Common Shares), or rights or warrants to subscribe for or purchase
      any such securities, or Convertible Securities in respect of any such
      securities, in a transaction referred to in any of subsections 2.3(b),
      2.3(f) and 2.3(h), inclusive, if the Board of Directors acting in good
      faith determines that the adjustments contemplated by subsections 2.3(b),
      2.3(f) and 2.3(h) in connection with such transaction will not
      appropriately protect the interests of the holders of Rights, then the Board of
      Directors may from time to time, but subject to obtaining the prior
      approval of the holders of the Rights obtained as set forth in subsection
      5.4(b), determine what other adjustments to the Exercise Price, number of
      Rights or securities purchasable upon exercise of Rights would be
      appropriate and, notwithstanding subsections 2.3(b), 2.3(f) and 2.3(h),
      such adjustments, rather than the adjustments contemplated by subsections
      2.3(b), 2.3(f) and 2.3(h), shall be made upon the Board of Directors
      providing written certification thereof to the Rights Agent as set forth
      in subsection 2.3(r). The Corporation and the Rights Agent shall amend,
      supplement or restate this Agreement as appropriate to provide for such
  adjustments.</P></TD></TR></TABLE>
<BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_30></A>
<P align=center>- 30 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(k) </TD>
    <TD>
      <P align=justify>Notwithstanding anything herein to the contrary, no
      adjustment of the Exercise Price shall be required unless such adjustment
      would require an increase or decrease of at least 1% in such Exercise
      Price; provided, however, that any adjustments which by reason of this
      subsection 2.3(k) are not required to be made shall be carried forward and
      taken into account in any subsequent adjustment. All adjustments to the
      Exercise Price made pursuant to this subsection 2.3 shall be calculated to
      the nearest cent.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(l) </TD>
    <TD>
      <P align=justify>All Rights originally issued by the Corporation
      subsequent to any adjustment made to an Exercise Price hereunder shall
      evidence the right to purchase, at the adjusted Exercise Price, the number
      of Common Shares purchasable from time to time hereunder upon exercise of
      the Rights, all subject to further adjustment as provided
herein.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(m) </TD>
    <TD>
      <P align=justify>Unless the Corporation shall have exercised its election,
      as provided in subsection 2.3(n), upon each adjustment of an Exercise
      Price as a result of the calculations made in subsections 2.3(f) and
      2.3(h), each Right outstanding immediately prior to the making of such
      adjustment shall thereafter evidence the right to purchase, at the
      adjusted Exercise Price, that number of Common Shares obtained
  by:</P></TD></TR></TABLE>
<BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>multiplying (A) the number of Common Shares covered by a
      Right immediately prior to such adjustment, by (B) the Exercise Price in
      effect immediately prior to such adjustment; and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>dividing the product so obtained by the Exercise Price in
      effect immediately after such adjustment.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(n) </TD>
    <TD>
      <P align=justify>The Corporation may elect on or after the date of any
      adjustment of an Exercise Price to adjust the number of Rights, in lieu of
      any adjustment in the number of Common Shares purchasable upon the
      exercise of a Right. Each of the Rights outstanding after the adjustment
      in the number of Rights shall be exercisable for the number of Common
      Shares for which a Right was exercisable immediately prior to such
      adjustment. Each Right held of record prior to such adjustment of the
      number of Rights shall become the number of Rights obtained by dividing
      the relevant Exercise Price in effect immediately prior to adjustment of
      the relevant Exercise Price by the relevant Exercise Price in effect
      immediately after adjustment of the relevant Exercise Price. The
      Corporation shall make a public announcement of its election to adjust the
      number of Rights, indicating the record date for the adjustment, and, if known at the time, the
      amount of the adjustment to be made. This record date may be the date on
      which the relevant Exercise Price is adjusted or any day thereafter, but,
      if the Rights Certificates have been issued, shall be at least 10 calendar
      days later than the date of the public announcement. If Rights
      Certificates have been issued, upon each adjustment of the number of
      Rights pursuant to this subsection 2.3(n), the Corporation shall, as
      promptly as practicable, cause to be distributed to holders of record of
      Rights Certificates on such record date, Rights Certificates evidencing,
      subject to Section 5.5, the additional Rights to which such holders shall
      be entitled as a result of such adjustment, or, at the option of the
      Corporation, shall cause to be distributed to such holders of record in
      substitution and replacement for the Rights Certificates held by such
      holders prior to the date of adjustment, and upon surrender thereof, if
      required by the Corporation, new Rights Certificates evidencing all the
      Rights to which such holders shall be entitled after such adjustment.
      Rights Certificates so to be distributed shall be issued, executed and
      countersigned in the manner provided for herein and may bear, at the
      option of the Corporation, the relevant adjusted Exercise Price and shall
      be registered in the names of holders of record of Rights Certificates on
  the record date specified in the public announcement.</P></TD></TR></TABLE>
<BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_31></A>
<P align=center>- 31 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(o) </TD>
    <TD>
      <P align=justify>In any case in which this Section 2.3 shall require that
      an adjustment in an Exercise Price be made effective as of a record date
      for a specified event, the Corporation may elect to defer until the
      occurrence of such event the issuance to the holder of any Right exercised
      after such record date of the number of Common Shares and other securities
      of the Corporation, if any, issuable upon such exercise over and above the
      number of Common Shares and other securities of the Corporation, if any,
      issuable upon such exercise on the basis of the relevant Exercise Price in
      effect prior to such adjustment; provided, however, that the Corporation
      shall deliver to such holder an appropriate instrument evidencing such
      holder&#146;s right to receive such additional Common Shares (fractional or
      otherwise) or other securities upon the occurrence of the event requiring
      such adjustment.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(p) </TD>
    <TD>
      <P align=justify>Notwithstanding anything in this Section 2.3 to the
      contrary, the Corporation shall be entitled to make such adjustments in
      the Exercise Price, in addition to those adjustments expressly required by
      this Section 2.3, as and to the extent that in its good faith judgment the
      Board of Directors shall determine to be advisable in order that
    any:</P></TD></TR></TABLE>
<BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>subdivision or consolidation of the Common
  Shares;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>issuance wholly for cash of any Common Shares at less
      than the applicable Market Price;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>issuance wholly for cash of any Common Shares or
      securities that by their terms are exchangeable for or convertible into or
      give a right to acquire Common Shares;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>stock dividends; or</P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_32></A>
<P align=center>- 32 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(v) </TD>
    <TD>
      <P align=justify>issuance of rights or warrants referred to in this
      Section 2.3, hereafter made by the Corporation to holders of its Common
      Shares, shall not be taxable to such
shareholders.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(q) </TD>
    <TD>
      <P align=justify>Irrespective of any adjustment or change in the
      securities purchasable upon exercise of the Rights, the Rights
      Certificates theretofore and thereafter issued may continue to represent
      the securities so purchasable which were represented in the initial Rights
      Certificates issued hereunder.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(r) </TD>
    <TD>
      <P align=justify>Whenever an adjustment to the Exercise Price is made
      pursuant to this Section 2.3, the Corporation
shall:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>promptly prepare a certificate setting forth such
      adjustment and a brief statement of the facts accounting for such
      adjustment; and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>promptly file with the Rights Agent and with each
      transfer agent for the Common Shares a copy of such certificate and mail a
      brief summary thereof to each holder of Rights who requests a
  copy.</P></TD></TR></TABLE>
<P align=justify>Failure to file such certificate or to cause such notice to be
given as aforesaid, or any defect therein, shall not affect the validity of any
such adjustment or change. </P>
<P
align=justify><STRONG>2.4</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Date on Which Exercise is Effective </STRONG></P>
<P align=justify>Each Person in whose name any certificate for Common Shares or
confirmation in Book Entry Form is issued upon the exercise of Rights shall for
all purposes be deemed to have become the holder of record of the Common Shares
represented thereby on, and such certificate or entry shall be dated, the date
upon which the Rights Certificate evidencing such Rights was duly surrendered
(together with a duly completed Election to Exercise) and payment of the
Exercise Price for such Rights (and any applicable transfer taxes and other
governmental charges payable by the exercising Person hereunder) was made;
provided, however, that if the date of such surrender and payment is a date upon
which the Common Share transfer books of the Corporation are closed, such Person
shall be deemed to have become the record holder of such shares on, and such
certificate or entry shall be dated, the next Business Day on which the Common
Share transfer books of the Corporation are open. </P>
<P align=justify><STRONG>2.5&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<STRONG>Execution, Authentication, Delivery and Dating of Rights Certificates
</STRONG></P>
<P align=justify>Rights will be evidenced, in the case of Rights in Book Entry
Form, by a statement issued under the Rights Agent&#146;s direct registration system
or, alternatively, if the Corporation determines to issue Rights Certificates,
by the following procedures: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>The Rights Certificates shall be executed on behalf of
      the Corporation by the Chief Executive Officer, President, Chief Financial
      Officer or Secretary of the Corporation. The signature of any of these
      officers on the Rights Certificates may be manual or facsimile. Rights
      Certificates bearing the manual or facsimile signatures of individuals who
      were at any time the proper officers of the Corporation shall bind the
      Corporation, notwithstanding that such individuals or any of them have
      ceased to hold such offices prior to the countersignature and delivery of
      such Rights Certificates.</P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_33></A>
<P align=center>- 33 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>Promptly following the Separation Time, the Corporation
      will notify the Rights Agent of such Separation Time and will deliver
      Rights Certificates executed by or on behalf of the Corporation to the
      Rights Agent for countersignature, and the Rights Agent shall countersign
      (manually or by facsimile signature in a manner satisfactory to the
      Corporation) and deliver such Rights Certificates to the holders of the
      Rights pursuant to Section 2.2. No Rights Certificate shall be valid for
      any purpose until countersigned by the Rights Agent as
aforesaid.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>Each Rights Certificate shall be dated the date of
      countersignature thereof.</P></TD></TR></TABLE>
<P align=justify><STRONG>2.6&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<STRONG>Registration, Transfer and Exchange </STRONG></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>After the Separation Time, the Corporation will cause to
      be kept a register (the &#147;<B>Rights Register</B>&#148;) in which, subject to
      such reasonable regulations as it may prescribe, the Corporation will
      provide for the registration and transfer of Rights. The Rights Agent is
      hereby appointed registrar for the Rights (the &#147;<B>Rights Registrar</B>&#148;)
      for the purpose of maintaining the Rights Register for the Corporation and
      registering Rights and transfers of Rights as herein provided and the
      Rights Agent hereby accepts such appointment. In the event that the Rights
      Agent shall cease to be the Rights Registrar, the Rights Agent will have
      the right to examine the Rights Register at all reasonable
times.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>After the Separation Time and prior to the Expiration
      Time, upon surrender for registration of transfer or exchange of any
      Rights Certificate, and subject to the provisions of subsections 2.6(d)
      and 3.1(b), the Corporation will execute, and the Rights Agent will
      countersign, deliver and register, in the name of the holder or the
      designated transferee or transferees, as required pursuant to the holder&#146;s
      instructions, one or more new Rights Certificates evidencing the same
      aggregate number of Rights as did the Rights Certificates so surrendered.
      Alternatively, in the case of the exercise of Rights in Book Entry Form,
      the Rights Agent shall provide the holder or the designated transferee or
      transferees with one or more statements issued under the Rights Agent&#146;s
      direct registration system evidencing the same aggregate number of Rights
      as did the direct registration system&#146;s records for the Rights transferred
      or exchanged.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>All Rights issued upon any registration of transfer or
      exchange of Rights Certificates shall be valid obligations of the
      Corporation, and such Rights shall be entitled to the same benefits under
      this Agreement as the Rights surrendered upon such registration of
      transfer or exchange.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>Every Rights Certificate surrendered for registration of
      transfer or exchange shall be duly endorsed, or be accompanied by a
      written instrument of transfer in form satisfactory to the Corporation or
      the Rights Agent, as the case may be, duly executed by the holder thereof
      or such holder&#146;s attorney duly authorized, in writing. As a condition to
      the issuance of any new Rights Certificate under this Section 2.6, the
      Corporation may require the payment of a sum sufficient to cover any tax
      or other governmental charge that may be imposed in relation thereto and
      any other expenses (including the fees and expenses of the Rights Agent)
      in connection therewith.</P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_34></A>
<P align=center>- 34 - </P>
<P align=justify><STRONG>2.7&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<STRONG>Mutilated, Lost, Stolen and Destroyed Rights Certificates </STRONG></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>If any mutilated Rights Certificate is surrendered to the
      Rights Agent prior to the Expiration Time, the Corporation shall execute
      and the Rights Agent shall countersign and deliver in exchange therefor a
      new Rights Certificate evidencing the same number of Rights as did the
      Rights Certificate so surrendered.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>If there shall be delivered to the Corporation and the
      Rights Agent prior to the Expiration Time:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>evidence to their reasonable satisfaction of the
      destruction, loss or theft of any Rights Certificate; and</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>such security and indemnity as may be reasonably required
      by them to save each of them and any of their agents
  harmless,</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 5%" align=justify>then, in the absence of notice to the
Corporation or the Rights Agent that such Rights Certificate has been acquired
by a bona fide purchaser, the Corporation shall execute and, upon the
Corporation&#146;s request the Rights Agent shall countersign and deliver, in lieu of
any such destroyed, lost or stolen Rights Certificate, a new Rights Certificate
evidencing the same number of Rights as did the Rights Certificate so destroyed,
lost or stolen. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>As a condition to the issuance of any new Rights
      Certificate under this Section 2.7, the Corporation may require the
      payment of a sum sufficient to cover any tax or other governmental charge
      that may be imposed in relation thereto and any other expenses (including
      the fees and expenses of the Rights Agent) connected therewith.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>Every new Rights Certificate issued pursuant to this
      Section 2.7 in lieu of any destroyed, lost or stolen Rights Certificate
      shall evidence a contractual obligation of the Corporation, whether or not
      the destroyed, lost or stolen Rights Certificate shall be at any time
      enforceable by anyone, and shall be entitled to all the benefits of this
      Agreement equally and proportionately with any and all other Rights duly
      issued hereunder.</P></TD></TR></TABLE>
<P align=justify><STRONG>2.8&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<STRONG>Persons Deemed Owners </STRONG></P>
<P align=justify>The Corporation, the Rights Agent and any agent of the
Corporation or the Rights Agent may deem and treat the Person in whose name a
Rights Certificate (or, prior to the Separation Time, the associated Voting
Share certificate) is registered as the absolute owner thereof and of the Rights
evidenced thereby for all purposes whatsoever. As used in this Agreement, unless
the context otherwise requires, the term &#147;holder&#148; of any Rights shall mean the
registered holder of such Rights (or, prior to the Separation Time, the
associated Voting Shares). </P>
<P align=justify><STRONG>2.9&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<STRONG>Delivery and Cancellation of Certificates </STRONG></P>
<P align=justify>All Rights Certificates surrendered upon exercise or for
redemption, for registration of transfer or exchange shall, if surrendered to
any Person other than the Rights Agent, be delivered to the Rights Agent and, in
any case, shall be promptly cancelled by the Rights Agent. The Corporation may
at any time deliver to the Rights Agent for cancellation any Rights Certificates
previously countersigned and delivered hereunder which the
Corporation may have acquired in any manner whatsoever, and all Rights
Certificates so delivered shall be promptly cancelled by the Rights Agent. No
Rights Certificate shall be countersigned in lieu of or in exchange for any
Rights Certificates cancelled as provided in this Section 2.9 except as
expressly permitted by this Agreement. The Rights Agent shall, subject to
applicable law, destroy all cancelled Rights Certificates and deliver a
certificate of destruction to the Corporation on request. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_35></A>
<P align=center>- 35 - </P>
<P align=justify><B>2.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </B><B>Agreement of
Rights Holders </B></P>
<P align=justify>Every holder of Rights, by accepting such Rights, consents and
agrees with the Corporation and the Rights Agent and with every other holder of
Rights: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>to be bound by and subject to the provisions of this
      Agreement, as amended from time to time in accordance with the terms
      hereof, in respect of all Rights held;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>that, prior to the Separation Time, each Right will be
      transferable only together with, and will be transferred by a transfer of,
      the associated Voting Share;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>that, after the Separation Time, the Rights will be
      transferable only on the Rights Register as provided herein;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>that, prior to due presentment of a Rights Certificate
      (or, prior to the Separation Time, the associated Voting Share
      certificate) for registration of transfer, the Corporation, the Rights
      Agent and any agent of the Corporation or the Rights Agent may deem and
      treat the Person in whose name the Rights Certificate (or, prior to the
      Separation Time, the associated Voting Share certificate) is registered as
      the absolute owner thereof and of the Rights evidenced thereby
      (notwithstanding any notations of ownership or writing on such Rights
      Certificate or the associated Voting Share certificate made by anyone
      other than the Corporation or the Rights Agent) for all purposes
      whatsoever, and neither the Corporation nor the Rights Agent shall be
      affected by any notice to the contrary;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>that such holder of Rights is not entitled to receive any
      fractional Rights or any fractional Common Shares or other securities upon
      exercise of a Right (except as provided herein);</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>that, without the approval of any holder of Rights or
      Voting Shares and upon the sole authority of the Board of Directors acting
      in good faith, this Agreement may be supplemented, amended or restated
      from time to time as provided herein; and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD>
      <P align=justify>that notwithstanding anything in this Agreement to the
      contrary, neither the Corporation nor the Rights Agent shall have any
      liability to any holder of a Right or any other Person as a result of its
      inability to perform any of its obligations under this Agreement by reason
      of any preliminary or permanent injunction or other order, decree or
      ruling issued by a court of competent jurisdiction or by a governmental,
      regulatory or administrative agency or commission, or any statute, rule,
      regulation or executive order promulgated or enacted by any governmental
      authority, prohibiting or otherwise restraining performance of such
      obligation.</P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_36></A>
<P align=center>- 36 - </P>
<P align=justify><B>2.11&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</B><B>Exclusion of
Warranty by Rights Agent </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>The Rights Agent shall have no obligation under this
      Agreement to ensure or verify compliance with any applicable laws or
      regulatory requirements on the issue, exercise or transfer of any Rights
      or Common Shares issuable upon the exercise thereof. The Rights Agent
      shall be entitled to process all proffered transfers and exercises of
      Rights upon the presumption that such transfers or exercises are
      permissible pursuant to all applicable laws and regulatory
      requirements.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>The Rights Agent may assume for the purposes of this
      Agreement that any address on the Register is the holder&#146;s actual address
      and is determinative as to residency and that the address of any
      transferee to whom any Rights are to be registered, as shown on the
      transfer document, is the transferee&#146;s residency.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>The Rights Agent shall have no obligation to ensure that
      the legends appearing on the Rights Certificates or Common Shares comply
      with the regulatory requirements or securities laws of any applicable
      jurisdiction.</P></TD></TR></TABLE>
<P align=center><B>ARTICLE 3</B><B> </B><BR><B>ADJUSTMENTS TO THE RIGHTS
</B><BR></P>
<P
align=justify><STRONG>3.1</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Flip-in Event </STRONG></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD colSpan=2>
      <P align=justify>Subject to subsection 3.1(b) and Section 5.1, in the
      event that prior to the Expiration Time a Flip-in Event occurs, each Right
      shall thereafter constitute, effective from and after the Close of
      Business on the tenth Trading Day following the Share Acquisition Date,
      the right to purchase from the Corporation, upon exercise thereof in
      accordance with the terms hereof, that number of Common Shares as have an
      aggregate Market Price on the date of the consummation or occurrence of
      such Flip-in Event equal to twice the Exercise Price for an amount in cash
      equal to the Exercise Price (such right to be appropriately adjusted in a
      manner analogous to the applicable adjustment provided for in Section 2.3
      if, after such date of consummation or occurrence, an event of a type
      analogous to any of the events described in Section 2.3 shall have
      occurred with respect to such Common Shares).</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD colSpan=2>
      <P align=justify>Notwithstanding anything in this Agreement to the
      contrary but subject to Section 5.1, upon the occurrence of any Flip-in
      Event, any Rights that are or were Beneficially Owned on or after the
      earlier of the Separation Time and the Share Acquisition Date, or which
      may thereafter be Beneficially Owned, by:</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>an Acquiring Person, any Affiliate or Associate of an
      Acquiring Person, any other Person acting jointly or in concert with an
      Acquiring Person or any Associate or Affiliate of an Acquiring Person (or
      any Affiliate or Associate of any such Person so acting jointly and in
      concert); or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>a transferee, direct or indirect, of an Acquiring Person,
      any Affiliate or Associate of an Acquiring Person, any other Person acting
      jointly or in concert with an Acquiring Person or any Associate or
      Affiliate of an Acquiring Person (or any Affiliate or Associate of any
      such Person so acting jointly and in concert), in a
transfer of Rights occurring subsequent to the Acquiring Person becoming such,
shall become null and void without any further action and any holder of such
Rights (including any transferee of, or other successor entitled to, such
Rights, whether directly or indirectly) shall thereafter have no right to
exercise such Rights under any provisions of this Agreement and, further, shall
thereafter not have any rights whatsoever with respect to such Rights, whether
under any provision of this Agreement or otherwise. The holder of any Rights
represented by a Rights Certificate which is submitted to the Rights Agent upon
exercise or for registration of transfer or exchange which does not contain the
necessary certifications set forth in the Rights Certificate establishing that
such Rights are not void under this subsection 3.1(b) shall be deemed to be an
Acquiring Person for the purposes of this subsection 3.1(b) and such Rights
shall become null and void. </P></TD></TR></TABLE>
<BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_37></A>
<P align=center>- 37 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>Any Rights Certificate that represents Rights
      Beneficially Owned by a Person described in either of subsections
      3.1(b)(i) or 3.1(b)(ii) or transferred to any Nominee of any such Person,
      and any Rights Certificate issued upon transfer, exchange, replacement or
      adjustment of any other Rights Certificate referred to in this sentence,
      shall contain or will be deemed to contain the following legend:</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>&#147;The Rights represented by this Rights Certificate were
      issued to a Person who was an Acquiring Person or an Affiliate or an
      Associate of an Acquiring Person (as such terms are defined in the Rights
      Agreement) or acting jointly or in concert with any of them. This Rights
      Certificate and the Rights represented hereby shall be void in the
      circumstances specified in subsection 3.1(b) of the Rights
    Agreement.&#148;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>The Rights Agent shall not be under any responsibility to
      ascertain the existence of facts that would require the imposition of such
      legend but shall be required to impose such legend only if instructed to
      do so in writing by the Corporation or if a holder fails to certify upon
      transfer or exchange in the space provided to do so. The issuance of a
      Rights Certificate without the legend referred to in this subsection
      3.1(c) shall have no effect on the provisions of subsection
  3.1(b).</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>After the Separation Time, the Corporation shall do all
      such acts and things necessary and within its power to ensure compliance
      with the provisions of this Section 3.1 including, without limitation, all
      such acts and things as may be required to satisfy the requirements of the
      BCBCA, the <I>Securities Act (British Columbia) </I>and the securities
      laws or comparable legislation in each of the provinces of Canada and in
      any other jurisdiction where the Corporation is subject to such laws and
      the rules of each Exchange in respect of the issue of Common Shares upon
      the exercise of Rights in accordance with this
Agreement.</P></TD></TR></TABLE>
<P align=justify><STRONG>3.2&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<STRONG>Fiduciary Duties of the Board of Directors </STRONG></P>
<P align=justify>For clarification it is understood that nothing contained in
this Article 3 shall be considered to affect the obligations of the Board of
Directors to exercise its fiduciary duties. Without limiting the generality of
the foregoing, nothing contained herein shall be construed to suggest or imply
that the Board of Directors shall not be entitled to recommend that holders of
the Voting Shares reject or accept any Take-over Bid or take any other action
including, without limitation, the commencement, prosecution, defence or settlement of any
litigation and the submission of additional or alternative Take-over Bids or
other proposals to the shareholders of the Corporation with respect to any
Take-over Bid or otherwise that the Board of Directors believes is necessary or
appropriate in the exercise of its fiduciary duties. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_38></A>
<P align=center>- 38 - </P>
<P align=center><B>ARTICLE 4</B><B> </B><BR><B>THE RIGHTS AGENT </B><BR></P>
<P
align=justify><STRONG>4.1</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
General </STRONG></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>The Corporation hereby appoints the Rights Agent to act
      as agent for the Corporation and the holders of the Rights in accordance
      with the terms and conditions hereof, and the Rights Agent hereby accepts
      such appointment. The Corporation may from time to time appoint one or
      more co-rights agents (each, a &#147;<B>Co-Rights Agent</B>&#148;) as it may deem
      necessary or desirable. In the event the Corporation appoints one or more
      Co-Rights Agents, the respective duties of the Rights Agent and Co-Rights
      Agents shall be as the Corporation may determine. The Corporation agrees
      to pay to the Rights Agent reasonable compensation for all services
      rendered by it hereunder and, from time to time, on demand of the Rights
      Agent, its reasonably incurred expenses and other disbursements in the
      administration and execution of this Agreement and the exercise and
      performance of its duties hereunder, including the reasonable fees and
      disbursements of counsel and other experts consulted by the Rights Agent
      pursuant to subsection 4.3(a). The Corporation also agrees to indemnify
      the Rights Agent and each of its directors, officers, employees, agents
      and shareholders for, and to hold each of them harmless against, any loss,
      liability, or expense, incurred without gross negligence, bad faith or
      wilful misconduct on the part of the Rights Agent, for anything done or
      omitted by the Rights Agent in connection with the acceptance and
      administration of this Agreement, including without limitation the costs
      and expenses of defending against any claim of liability, which right to
      indemnification will survive the termination of this Agreement or the
      resignation or removal of the Rights Agent.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>The Rights Agent shall be protected and shall incur no
      liability for or in respect of any action taken, suffered or omitted by it
      in connection with its administration of this Agreement in reliance upon
      any certificate for Common Shares, Rights Certificate, certificate for
      other securities of the Corporation, instrument of assignment or transfer,
      power of attorney, endorsement, affidavit, letter, notice, direction,
      consent, certificate, statement, or other paper or document believed by it
      to be genuine and to be signed, executed and, where necessary, verified or
      acknowledged, by the proper Person or Persons.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>The Corporation shall inform the Rights Agent in a
      reasonably timely manner of events which may materially affect the
      administration of this Agreement by the Rights Agent and, at any time upon
      request, shall provide to the Rights Agent an incumbency certificate
      certifying the then current officers of the Corporation.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>No provision contained in this Agreement shall require
      the Rights Agent to expend or risk its own funds or otherwise incur
      financial liability in the performance of any of its duties or in the
      exercise of any of its rights or powers under this
  Agreement.</P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_39></A>
<P align=center>- 39 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>The Corporation covenants that it will pay to the Rights
      Agent from time to time reasonable remuneration for its services hereunder
      and will pay to or reimburse the Rights Agent upon its request for all
      reasonable expenses, disbursements and advances made or incurred by the
      Rights Agent in the administration or execution of the trusts hereby
      created (including reasonable compensation and disbursements of its legal
      counsel and all other advisers and assistants not regularly in its employ)
      both before and after any default hereunder until all of the duties of the
      Rights Agent hereunder have been fully and finally performed.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>Notwithstanding any other provision of this Agreement,
      and whether such losses or damages are foreseeable or unforeseeable, the
      Rights Agent shall not be liable under any circumstances whatsoever for
      any (i) breach by any other party of securities law or other rule of any
      securities regulatory authority, (ii) lost profits, or (iii) special,
      indirect, incidental, consequential, exemplary, aggravated or punitive
      losses or damages.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD>
      <P align=justify>Notwithstanding any other provision of this Agreement,
      any liability of the Rights Agent shall be limited, in the aggregate, to
      the amount of fees paid by the Company to the Rights Agent under this
      Agreement in the twelve (12) months immediately prior to the Rights Agent
      receiving the first notice of the claim.</P></TD></TR></TABLE>
<P align=justify><STRONG>4.2&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<STRONG>Merger, Amalgamation, Consolidation or Change of Name of Rights Agent
</STRONG></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>Any corporation into which the Rights Agent or any
      successor Rights Agent may be merged or amalgamated or with which it may
      be consolidated, or any corporation resulting from any merger,
      amalgamation or consolidation to which the Rights Agent or any successor
      Rights Agent is a party, or any corporation succeeding to the shareholder
      or stockholder services business of the Rights Agent or any successor
      Rights Agent, will be the successor to the Rights Agent under this
      Agreement without the execution or filing of any document or any further
      act on the part of any of the parties hereto, provided that such
      corporation would be eligible for appointment as a successor Rights Agent
      under the provisions of Section 4.4. In case at the time such successor
      Rights Agent succeeds to the agency created by this Agreement any of the
      Rights Certificates have been countersigned but not delivered any such
      successor Rights Agent may adopt the countersignature of the predecessor
      Rights Agent and deliver such Rights Certificates so countersigned; and in
      case at that time any of the Rights Certificates have not been
      countersigned, any successor Rights Agent may countersign such Rights
      Certificates either in the name of the predecessor Rights Agent or in the
      name of the successor Rights Agent; and in all such cases such Rights
      Certificates will have the full force provided in the Rights Certificates
      and in this Agreement.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>In case at any time the name of the Rights Agent is
      changed and at such time any of the Rights Certificates shall have been
      countersigned but not delivered, the Rights Agent may adopt the
      countersignature under its prior name and deliver Rights Certificates so
      countersigned; and in case at that time any of the Rights Certificates
      shall not have been countersigned, the Rights Agent may countersign such
      Rights Certificates either in its prior name or in its changed name; and
      in all such cases such Rights Certificates shall have the full force
      provided in the Rights Certificates and in this
  Agreement.</P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_40></A>
<P align=center>- 40 - </P>
<P align=justify><STRONG>4.3&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<STRONG>Duties of Rights Agent </STRONG></P>
<P align=justify>The Rights Agent undertakes the duties and obligations imposed
by this Agreement upon the following terms and conditions, by all of which the
Corporation and the holders of Rights Certificates, by their acceptance thereof,
shall be bound: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>the Rights Agent may retain and consult with legal
      counsel (who may be legal counsel for the Corporation) and the opinion of
      such counsel will be full and complete authorization and protection to the
      Rights Agent as to any action taken or omitted by it in good faith and in
      accordance with such opinion; the Rights Agent may also, with the prior
      written consent of the Corporation (such consent not to be unreasonably
      withheld), consult with such other experts as the Rights Agent shall
      consider necessary or appropriate to properly carry out the duties and
      obligations imposed under this Agreement and the Rights Agent shall be
      entitled to rely in good faith on the advice of any such expert;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>whenever in the performance of its duties under this
      Agreement the Rights Agent deems it necessary or desirable that any fact
      or matter be proved or established by the Corporation prior to taking,
      refraining from taking or suffering any action hereunder, such fact or
      matter (unless other evidence in respect thereof be herein specifically
      prescribed) may be deemed to be conclusively proved and established by a
      certificate signed by a person believed by the Rights Agent to be the
      Chief Executive Officer, President, Chief Financial Officer or the
      Secretary or Assistant Secretary of the Corporation and delivered to the
      Rights Agent; and such certificate will be full authorization to the
      Rights Agent for any action taken or suffered in good faith by it under
      the provisions of this Agreement in reliance upon such
  certificate;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>the Rights Agent will be liable hereunder for its own
      gross negligence, bad faith or wilful misconduct and that of its officers,
      directors and employees;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>the Rights Agent will not be liable for or by reason of
      any of the statements of fact or recitals contained in this Agreement or
      in the certificates for Common Shares, or the Rights Certificates (except
      its countersignature thereof which countersignature shall not be construed
      as a representation or warranty by the Rights Agent as to the validity of
      this Agreement or the Rights Certificate(s), except the due certification
      thereof) or be required to verify the same, and all such statements and
      recitals are and will be deemed to have been made by the Corporation
      only;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>the Rights Agent will not be under any responsibility in
      respect of the validity of this Agreement or the execution and delivery
      hereof (except the due authorization, execution and delivery hereof by the
      Rights Agent) or in respect of the validity or execution of any Common
      Share certificate, or Rights Certificate (except its countersignature
      thereof); nor will it be responsible for any breach by the Corporation of
      any covenant or condition contained in this Agreement or in any Rights
      Certificate; nor will it be responsible for any change in the
      exercisability of the Rights (including the Rights becoming void pursuant
      to subsection 3.1(b) or any adjustment required under the provisions of
      Section 2.3 or responsible for the manner, method or amount of any such
      adjustment, nor will it be responsible for the ascertaining of the
      existence of facts that would require any such adjustment (except with respect to the exercise
      of Rights after receipt of the certificate contemplated by Section 2.3
      describing any such adjustment or any written notice from the Corporation
      or any holder that a Person has become an Acquiring Person); nor will it
      by any act hereunder be deemed to make any representation or warranty as
      to the authorization of any Common Shares to be issued pursuant to this
      Agreement or any Rights or as to any Common Shares, when issued, being
      duly and validly authorized, issued and delivered as fully paid and
  non-assessable;</P></TD></TR></TABLE>
<BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_41></A>
<P align=center>- 41 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>the Corporation agrees that it will perform, execute,
      acknowledge and deliver or cause to be performed, executed, acknowledged
      and delivered all such further and other acts, instruments and assurances
      as may reasonably be required by the Rights Agent for the carrying out or
      performing by the Rights Agent of the provisions of this
  Agreement;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD>
      <P align=justify>the Rights Agent is hereby authorized and directed to
      accept instructions with respect to the performance of its duties
      hereunder from any individual designated in writing by the Corporation and
      believed by the Rights Agent to be the Chief Executive Officer, President,
      Chief Financial Officer, or the Secretary or Assistant Secretary of the
      Corporation, and to apply to such individuals for advice or instructions
      in connection with its duties, and it shall not be liable for any action
      taken or suffered by it in good faith in accordance with instructions of
      any such individual; it is understood that instructions to the Rights
      Agent shall, except where circumstances make it impractical or the Rights
      Agent otherwise agrees, be given in writing and, where not in writing,
      such instructions shall be confirmed in writing as soon as reasonably
      practicable after the giving of such instructions;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(h) </TD>
    <TD>
      <P align=justify>the Rights Agent and any shareholder or director, officer
      or employee of the Rights Agent may buy, sell or deal in Common Shares,
      Rights or other securities of the Corporation or become pecuniarily
      interested in any transaction in which the Corporation may be interested,
      or contract with or lend money to the Corporation or otherwise act as
      fully and freely as though it were not the Rights Agent under this
      Agreement; nothing herein shall preclude the Rights Agent from acting in
      any other capacity for the Corporation or for any other legal entity;
      and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>the Rights Agent may execute and exercise any of the
      rights or powers hereby vested in it or perform any duty hereunder either
      itself or by or through its attorneys or agents, and the Rights Agent will
      not be answerable or accountable for any act, default, neglect or
      misconduct of any such attorneys or agents or for any loss to the
      Corporation resulting from any such act, default, neglect or misconduct,
      provided reasonable care was exercised in the selection and continued
      employment thereof.</P></TD></TR></TABLE>
<P
align=justify><STRONG>4.4</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Change of Rights Agent </STRONG></P>
<P align=justify>The Rights Agent may resign and be discharged from its duties
under this Agreement by giving 60 days prior written notice (or such lesser
notice as is acceptable to the Corporation) to the Corporation, to each transfer
agent of Voting Shares and to the holders of the Rights, all in accordance with
Section 5.9 and at the expense of the Corporation. The Corporation may remove
the Rights Agent by giving 30 days prior written notice to the Rights Agent, to
the transfer agent of the Voting Shares and to the holders of the Rights in
accordance with Section 5.9. If the Rights Agent should resign or be removed or
otherwise become incapable of acting, the Corporation will appoint a successor
to the Rights Agent. If the Corporation fails to make such appointment within a
period of 30 days after such removal or after it has been notified in writing of
such resignation or incapacity by the resigning or incapacitated Rights Agent or
by the holder of any Rights (which holder shall, with such notice, submit such
holder&#146;s Rights Certificate for inspection of the Corporation), then the holder
of any Rights may apply to any court of competent jurisdiction for the
appointment of a new Rights Agent. Any successor Rights Agent, whether appointed
by the Corporation or by such a court, must be a corporation incorporated under
the laws of Canada or a province thereof and authorized to carry on the business
of a trust company in the Province of British Columbia. After appointment, the
successor Rights Agent will be vested with the same powers, rights, duties and
responsibilities as if it had been originally named as Rights Agent without
further act or deed; but the predecessor Rights Agent, upon receiving all
amounts owing to it hereunder (unless otherwise agreed by the Rights Agent),
shall deliver and transfer to the successor Rights Agent any property at the
time held by it hereunder, and execute and deliver any further assurance,
conveyance, act or deed necessary for the purpose. Not later than the effective
date of any such appointment, the Corporation will file notice thereof in
writing with the predecessor Rights Agent and each transfer agent of the Voting
Shares and mail a notice thereof in writing to the holders of the Rights in
accordance with Section 5.9. Failure to give any notice provided for in this
Section 4.4, however, or any defect therein, shall not affect the legality or
validity of the resignation or removal of the Rights Agent or the appointment of
the successor Rights Agent, as the case may be. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_42></A>
<P align=center>- 42 - </P>
<P
align=justify><STRONG>4.5</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Compliance with Anti-Money Laundering Legislation </STRONG></P>
<P align=justify>The Rights Agent shall retain the right not to act and shall
not be liable for refusing to act if, due to a lack of information or for any
other reason whatsoever, the Rights Agent reasonably determines that such an act
might cause it to be in non-compliance with any applicable anti-money laundering
or antiterrorist legislation, regulation or guidelines. Further, should the
Rights Agent reasonably determine at any time that its acting under this
Agreement has resulted in it being in non-compliance with any applicable
anti-money laundering or anti-terrorist legislation, regulation or guidelines,
then it shall have the right to resign on ten days&#146; written notice to the
Corporation, provided: (i) that the Rights Agent&#146;s written notice shall describe
the circumstances of such non-compliance; and (ii) that if such circumstances
are rectified to the Rights Agent&#146;s satisfaction within such ten day period,
then such resignation shall not be effective. </P>
<P
align=justify><STRONG>4.6</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Privacy Legislation </STRONG></P>
<P align=justify>Each of the parties hereto acknowledges that federal and/or
provincial legislation that addresses the protection of individual&#146;s personal
information (collectively, &#147;<B>Privacy Laws</B>&#148;) applies to obligations and
activities under this Agreement. Despite any other provision of this Agreement,
neither party will take or direct any action that would contravene, or cause the
other to contravene, applicable Privacy Laws. The Corporation will, prior to
transferring or causing to be transferred personal information to the Rights
Agent, obtain and retain required consents of the relevant individuals to the
collection, use and disclosure of their personal information, or will have
determined that such consents either have previously been given upon which the
parties can rely or are not required under the Privacy Laws. The Rights Agent
will use commercially reasonable efforts to ensure that its services hereunder
comply with Privacy Laws. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_43></A>
<P align=center>- 43 - </P>
<P align=center><B>ARTICLE 5</B><B> </B><BR><B>MISCELLANEOUS </B><BR></P>
<P align=justify><STRONG>5.1&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<STRONG>Redemption, Waiver, Extension and Termination </STRONG></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>Subject to the prior consent of the holders of Voting
      Shares or Rights obtained as set forth in subsections 5.4(a) or 5.4(b), as
      applicable, the Board of Directors acting in good faith may, at any time
      prior to the later of the Share Acquisition Date and the Separation Time,
      elect to redeem all but not less than all of the then outstanding Rights
      at a redemption price of $0.00001 per Right, appropriately adjusted in a
      manner analogous to the applicable adjustment provided for in Section 2.3
      if an event of the type analogous to any of the events described in
      Section 2.3 shall have occurred (such redemption price being herein
      referred to as the &#147;<B>Redemption Price</B>&#148;).</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>The Board of Directors may waive the application of
      Section 3.1 in respect of the occurrence of any Flip-in Event if the Board
      of Directors has determined in good faith, following the Share Acquisition
      Date and prior to the Separation Time, that a Person became an Acquiring
      Person by inadvertence and without any intention to become, or knowledge
      that it would become, an Acquiring Person under this Agreement and, in the
      event that such a waiver is granted by the Board of Directors, such Share
      Acquisition Date shall be deemed not to have occurred. Any such waiver
      pursuant to this subsection 5.1(b) may only be given on the condition that
      such Person, within 14 days after the foregoing determination by the Board
      of Directors or such later date as the Board of Directors may determine
      (the &#147;<B>Disposition Date</B>&#148;), has reduced its Beneficial Ownership of
      Voting Shares such that the Person is no longer an Acquiring Person. If
      the Person remains an Acquiring Person at the Close of Business on the
      Disposition Date, then the Disposition Date shall be deemed to be the date
      of occurrence of a further Share Acquisition Date and Section 3.1 shall
      apply thereto.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>In the event that a Person acquires Voting Shares and/or
      Convertible Securities pursuant to a Permitted Bid or an Exempt
      Acquisition referred to in subsection 5.1(d), then the Board of Directors
      shall, notwithstanding the provisions of subsection 5.1(a), immediately
      upon the consummation of such acquisition and without further formality,
      be deemed to have elected to redeem the Rights at the Redemption
    Price.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>The Board of Directors acting in good faith may, prior to
      the occurrence of the relevant Flip-in Event, upon prior written notice
      delivered to the Rights Agent, determine to waive the application of
      Section 3.1 to a Flip-in Event that may occur by reason of a Take-over Bid
      made by means of a Take-over Bid circular to all holders of record of
      Voting Shares; provided that, if the Board of Directors waives the
      application of Section 3.1 to a particular Take-over Bid pursuant to this
      subsection 5.1(d), then the Board of Directors shall be deemed to have
      waived the application of Section 3.1 to any other Take-over Bid made by
      means of a Take-over Bid circular to all holders of record of Voting
      Shares prior to the expiry of any Take-over Bid in respect of which a
      waiver is, or is deemed to have been, granted under this subsection
      5.1(d).</P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_44></A>
<P align=center>- 44 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>Subject to the prior consent of the holders of Voting
      Shares obtained as set forth in subsection 5.4(b)(i), the Board of
      Directors may, at any time prior to the occurrence of a Flip-in Event as
      to which the application of Section 3.1 has not been waived pursuant to
      this Section 5.1, if such Flip-in Event would occur by reason of an
      acquisition of Voting Shares and/or Convertible Securities otherwise than
      pursuant to a Take-over Bid made by means of a Take-over Bid circular to
      all registered holders of Voting Shares and otherwise than in the
      circumstances set forth in subsection 5.1(b), waive the application of
      Section 3.1 to such Flip-in Event. In such event, the Board of Directors
      shall extend the Separation Time to a date at least 10 Business Days
      subsequent to the meeting of shareholders called to approve such
      waiver.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>The Board of Directors may, prior to the Close of
      Business on the tenth Business Day following a Share Acquisition Date or
      such later Business Day as it may from time to time determine, upon prior
      written notice delivered to the Rights Agent, waive the application of
      Section 3.1 to the related Flip-in Event; provided that the Acquiring
      Person has reduced its Beneficial Ownership of Voting Shares (or has
      entered into a contractual arrangement with the Corporation, acceptable to
      the Board of Directors, to do so within 10 days of the date on which such
      contractual arrangement is entered into or such later date as the Board of
      Directors may determine) such that, at the time the waiver becomes
      effective pursuant to this subsection 5.1(f), such Person is no longer an
      Acquiring Person. In the event of such a waiver becoming effective prior
      to the Separation Time, for the purposes of this Agreement, such Flip-in
      Event shall be deemed not to have occurred.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD>
      <P align=justify>Where a Take-over Bid that is not a Permitted Bid or
      Competing Permitted Bid is withdrawn or otherwise terminated after the
      Separation Time has occurred and prior to the occurrence of a Flip-in
      Event, or if the Board of Directors grants a waiver under subsection
      5.1(f) after the Separation Time, then the Board of Directors may elect to
      redeem all the outstanding Rights at the Redemption Price. Upon the Rights
      being redeemed pursuant to this subsection 5.1(g), all of the provisions
      of this Agreement shall continue to apply as if the Separation Time had
      not occurred and Rights Certificates representing the number of Rights
      held by each holder of record of Voting Shares at the Separation Time had
      not been mailed to each such holder and for all purposes of this Agreement
      the Separation Time shall be deemed not to have occurred and the
      Corporation shall be deemed to have issued replacement Rights to the
      holders of its then outstanding Voting Shares.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(h) </TD>
    <TD>
      <P align=justify>If the Board of Directors is deemed under subsection
      5.1(c) to have elected or elects under subsections 5.1(a) or 5.1(g) to
      redeem the Rights, then the right to exercise the Rights will thereupon,
      without further action and without notice, terminate and the only right
      thereafter of the holders of Rights shall be to receive the Redemption
      Price.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>Within 10 Business Days after the Board of Directors is
      deemed under subsection 5.1(c) to have elected or elects under subsection
      5.1(a) or 5.1(g) to redeem the Rights, the Corporation shall give notice
      of redemption to the holders of the then outstanding Rights by mailing
      such notice to each such holder at his last address as it appears upon the
      Rights Register or, prior to the Separation Time, on the registry books of
      the transfer agent for the Voting Shares. Any notice which is mailed in the manner herein provided
      shall be deemed given, whether or not the holder receives the notice. Each
      such notice of redemption will state the method by which the payment of
  the Redemption Price will be made.</P></TD></TR></TABLE>
<BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_45></A>
<P align=center>- 45 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(j) </TD>
    <TD>
      <P align=justify>The Corporation shall not be obligated to make a payment
      of the Redemption Price to any holder of Rights unless the holder is
      entitled to receive at least $10.00 in respect of all Rights held by such
      holder.</P></TD></TR></TABLE>
<P
align=justify><STRONG>5.2</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Expiration </STRONG></P>
<P align=justify>No Person will have any rights pursuant to this Agreement or in
respect of any Right after the Expiration Time, except in respect of any right
to receive cash, securities or other property which has accrued at the
Expiration Time and except as specified in subsections 4.1(a) and 4.1(b) . </P>
<P
align=justify><STRONG>5.3</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Issuance of New Rights Certificates </STRONG></P>
<P align=justify>Notwithstanding any of the provisions of this Agreement or of
the Rights to the contrary, the Corporation may, at its option, issue new Rights
Certificates evidencing Rights in such form as may be approved by its Board of
Directors to reflect any adjustment or change in the number or kind or class of
securities purchasable upon exercise of Rights made in accordance with the
provisions of this Agreement. </P>
<P align=justify><STRONG>5.4&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<STRONG>Supplements and Amendments </STRONG></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD colSpan=2>
      <P align=justify>Subject to subsections 5.4(b) and 5.4(c), the Corporation
      may from time to time amend, supplement, restate or delete any of the
      provisions of this Agreement and the Rights provided that no amendment,
      supplement, restatement or deletion shall be made without the prior
      consent of the shareholders of the Corporation or holders of the Rights,
      given as provided in subsection 5.4(b), except that amendments,
      supplements, restatements or deletions made for any of the following
      purposes shall not require such prior approval but shall be subject to
      subsequent ratification in accordance with subsection 5.4(b):</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>in order to make such changes as are necessary in order
      to maintain the validity of this Agreement and the Rights as a result of
      any change in any applicable legislation, regulations or rules;
  or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>in order to make such changes as are necessary in order
      to cure any clerical or typographical error.</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 5%" align=justify>Notwithstanding anything in this
Section 5.4 to the contrary, no amendment, supplement, restatement or deletion
shall be made to the provisions of Article 4 or any other provision specifically
relating to the rights or duties of the Rights Agent except with the written
concurrence of the Rights Agent thereto. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD colSpan=2>
      <P align=justify>Any amendment, supplement, restatement or deletion made
      by the Board of Directors pursuant to subsection 5.4(a) shall if
    made:</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>prior to the Separation Time, be submitted to the
      shareholders of the Corporation at the next meeting of shareholders and
      the shareholders may, by resolution passed by a majority of the votes cast
      by Independent Shareholders who vote in respect of such amendment,
      supplement, restatement or deletion, confirm or reject such amendment,
  supplement, restatement or deletion; or</P></TD></TR></TABLE>
<BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_46></A>
<P align=center>- 46 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>after the Separation Time, be submitted to the holders of
      Rights at a meeting to be held on a date not later than the date of the
      next meeting of shareholders of the Corporation and the holders of Rights
      may, by resolution passed by a majority of the votes cast by the holders
      of Rights which have not become void pursuant to subsection 3.1(b) who
      vote in respect of such amendment, supplement, restatement or deletion,
      confirm or reject such amendment, supplement, restatement or
    deletion.</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 5%" align=justify>Any amendment, supplement, restatement
or deletion pursuant to subsection 5.4(a) shall be effective from the later of
the date of the consent of the holders of Voting Shares or Rights, as
applicable, adopting such amendment, supplement, restatement or deletion and the
date of approval thereof by the Exchange (except in the case of an amendment,
supplement, restatement or deletion referred to in subsections 5.4(a)(i) or
5.4(a)(ii), which shall be effective from the later of the date of the
resolution of the Board of Directors adopting such amendment, supplement,
restatement or deletion and the date or approval thereof by the Exchange and
shall continue in effect until it ceases to be effective (as in this subsection
5.4(b) described) and, where such amendment, supplement, restatement or deletion
is confirmed, it shall continue in effect in the form so confirmed). If an
amendment, supplement, restatement or deletion pursuant to subsections 5.4(a)(i)
or 5.4(a)(ii) is rejected by the shareholders or the holders of Rights or is not
submitted to the shareholders or holders of Rights as required, then such
amendment, supplement, restatement or deletion shall cease to be effective, as
applicable: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>from and after the termination of the meeting at which it
      was rejected or to which it should have been but was not
  submitted;</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>from and after the date of the meeting of holders of
      Rights that should have been (but was not) held prior to or concurrently
      with the time of the next meeting of shareholders of the Corporation;
      or</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(v) </TD>
    <TD>
      <P align=justify>from and after the date a meeting of shareholders should
      have been held pursuant to applicable law but was not
  held,</P></TD></TR></TABLE>
<P style="MARGIN-LEFT: 5%" align=justify>and no subsequent resolution of the
Board of Directors to amend, supplement, restate or delete any provision of this
Agreement to substantially the same effect shall be effective until confirmed by
the shareholders or holders of Rights, as the case may be. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>For greater certainty, neither the exercise by the Board
      of Directors of any power or discretion conferred on it hereunder nor the
      making by the Board of Directors of any determination or the granting of
      any waiver it is permitted to make or give hereunder shall constitute an
      amendment, supplement, restatement or deletion of the provisions of this
      Agreement or the Rights, for purposes of this Section 5.4 or
    otherwise.</P></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_47></A>
<P align=center>- 47 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>Unless otherwise provided herein, the approval,
      confirmation or consent of the holders of Rights with respect to any
      matter arising hereunder shall be deemed to have been given if the action
      requiring such approval, confirmation or consent is authorized by the
      affirmative votes of the holders of Rights present or represented at and
      entitled to be voted at a meeting of the holders of Rights and
      representing a majority of the votes cast in respect thereof. For the
      purposes hereof, each outstanding Right (other than Rights which are void
      pursuant to the provisions hereof or which, prior to the Separation Time,
      are held otherwise than by Independent Shareholders) shall be entitled to
      one vote, and the procedures for the calling, holding and conduct of the
      meeting shall be those, as nearly as may be, which are provided in the
      Corporation&#146;s bylaws and under applicable laws with respect to meetings of
      shareholders of the Corporation.</P></TD></TR></TABLE>
<P
align=justify><STRONG>5.5</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Fractional Rights and Fractional Shares </STRONG></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>The Corporation shall not be required to issue fractions
      of Rights or to distribute Rights Certificates which evidence fractional
      Rights. Any such fractional Right shall be null and void and the
      Corporation will not have any obligation or liability in respect
      thereof.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>The Corporation shall not be required to issue fractional
      Common Shares upon exercise of the Rights or to distribute certificates
      that evidence fractional Common Shares. In lieu of issuing fractional
      Common Shares, the Corporation shall pay to the registered holder of
      Rights Certificates at the time such Rights are exercised as herein
      provided, an amount in cash equal to the same fraction of the Market Price
      of one Common Share at the date of such exercise.</P></TD></TR></TABLE>
<P align=justify><STRONG>5.6&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<STRONG>Rights of Action </STRONG></P>
<P align=justify>Subject to the terms of this Agreement, rights of action in
respect of this Agreement, other than rights of action vested solely in the
Rights Agent, are vested in the respective holders of the Rights; and any holder
of any Rights, without the consent of the Rights Agent or of the holder of any
other Rights may, on such holder&#146;s own behalf and for such holder&#146;s own benefit
and the benefit of other holders of Rights, enforce, and may institute and
maintain any suit, action or proceeding against the Corporation to enforce, or
otherwise act in respect of, such holder&#146;s right to exercise such holder&#146;s
Rights in the manner provided in this Agreement and in such holder&#146;s Rights
Certificate. Without limiting the foregoing or any remedies available to the
holders of Rights, it is specifically acknowledged that the holders of Rights
would not have an adequate remedy at law for any breach of this Agreement and
will be entitled to specific performance of the obligations under, and
injunctive relief against actual or threatened violations of, the obligations of
any Person subject to this Agreement. </P>
<P
align=justify><STRONG>5.7</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Holder of Rights Not Deemed a Shareholder </STRONG></P>
<P align=justify>No holder, as such, of any Rights shall be entitled to vote,
receive dividends or be deemed for any purpose the holder of Common Shares or
any other securities which may at any time be issuable on the exercise of
Rights, nor shall anything contained herein or in any Rights Certificate be
construed to confer upon the holder of any Rights, as such, any of the rights of
a shareholder of the Corporation or any right to vote for the election of
directors or upon any matter submitted to shareholders at any meeting thereof,
or to give or withhold consent to any action, or to receive notice of meetings
or other actions affecting shareholders (except as provided in Section 5.8) or to receive dividends or
subscription rights or otherwise, until such Rights shall have been exercised in
accordance with the provisions hereof. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_48></A>
<P align=center>- 48 - </P>
<P align=justify><STRONG>5.8&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<STRONG>Notice of Proposed Actions </STRONG></P>
<P align=justify>If the Corporation proposes after the Separation Time and prior
to the Expiration Time to effect the liquidation, dissolution or winding up of
the Corporation or the sale of all or substantially all of the Corporation&#146;s
assets, then, in each such case, the Corporation shall give to each holder of a
Right, in accordance with Section 5.9, a notice of such proposed action, which
shall specify the date on which such liquidation, dissolution, or winding up is
to take place, and such notice shall be so given at least 20 Business Days prior
to the date of the taking of such proposed action by the Corporation. </P>
<P align=justify><STRONG>5.9&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<STRONG>Notices </STRONG></P>
<P align=justify>Notices or demands authorized or required by this Agreement to
be given or made to or by the Rights Agent, the holder of any Rights or the
Corporation will be sufficiently given or made and shall be deemed to be
received if delivered or sent by first-class mail, postage prepaid, or by
facsimile machine or other means of printed telecommunication, charges prepaid
and confirmed in writing by mail or delivery, addressed (until another address
is filed in writing with the Rights Agent or the Corporation, as applicable), as
follows: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD align=left>if to the Corporation:</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD align=left>AURORA CANNABIS INC. </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD vAlign=top align=left>510 Seymour Street, 9th Floor</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD align=left>Vancouver, BC V6B 3J5</TD>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD align=left>Attention:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chief
      Executive Officer <BR>Facsimile No.: (604) 428-6231</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD align=left>if to the Rights Agent:</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD align=left>Computershare Trust Company of Canada </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD vAlign=top align=left>510 Burrard Street, 3<SUP>rd </SUP>Floor </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD align=left>Vancouver, BC V6C 3B9</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD align=left>Attention:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      General Manager, Client Services <BR>Facsimile No.: (604) 664-9401</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>if to the holder of any Rights, to the address of such
      holder as it appears on the Rights Register or, prior to the Separation
      Time, on the registry books of the Corporation for the Common
    Shares.</P></TD></TR></TABLE>
<P align=justify>Any notice which is mailed or sent or delivered in the manner
provided for herein shall be deemed given and received whether or not the holder
receives the notice. </P>
<P align=justify><B>5.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </B><B>Costs of
Enforcement </B></P>
<P align=justify>The Corporation agrees that if the Corporation, or any other
Person the securities of which are purchasable upon exercise of Rights, fails to
fulfil any of its obligations pursuant to this </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_49></A>
<P align=center>- 49 - </P>
<P align=justify>Agreement, then the Corporation or such Person will reimburse
the holder of any Rights for the reasonable costs and expenses (including legal
fees) incurred by such holder in actions to enforce his rights pursuant to any
Rights or this Agreement. </P>
<P align=justify><B>5.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </B><B>Regulatory
Approvals </B></P>
<P align=justify>Any obligation of the Corporation or action or event
contemplated by this Agreement, shall be subject to applicable law and to the
receipt of any requisite approval or consent from any governmental or regulatory
authority. Without limiting the generality of the foregoing, any issuance or
delivery of debt or equity securities (other than non-convertible debt security)
of the Corporation upon the exercise of Rights and any amendment to this
Agreement shall be subject to the applicable prior consent of each Exchange.
</P>
<P align=justify>Unless provided with written notice to the contrary, the Rights
Agent is entitled to assume that all such necessary consents and approvals have
been obtained. </P>
<P align=justify><B>5.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </B><B>Declaration as to
Non-Canadian and Non-United States Holders </B></P>
<P align=justify>If, upon the advice of outside counsel, any action or event
contemplated by this Agreement would require compliance with the securities laws
or comparable legislation of a jurisdiction outside Canada and the United States
of America, the Board of Directors acting in good faith may take such actions as
it may deem appropriate to ensure that such compliance is not required,
including without limitation establishing procedures for the issuance to a
Canadian resident Fiduciary of Rights or securities issuable on exercise of
Rights, the holding thereof in trust for the Persons entitled thereto (but
reserving to the Fiduciary or to the Fiduciary and the Corporation, as the
Corporation may determine, absolute discretion with respect thereto) and the
sale thereof and remittance of the proceeds of such sale, if any, to the Persons
entitled thereto. In no event shall the Corporation or the Rights Agent be
required to issue or deliver Rights or securities issuable on exercise of Rights
to Persons who are citizens, residents or nationals of any jurisdiction other
than Canada and any province or territory thereof and of the United States of
America and any state thereof in which such issue or delivery would be unlawful
without registration of the relevant Persons or securities for such purposes.
</P>
<P align=justify><B>5.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </B><B>Successors
</B></P>
<P align=justify>All the covenants and provisions of this Agreement by or for
the benefit of the Corporation or the Rights Agent shall bind and enure to the
benefit of their respective successors and assigns hereunder. </P>
<P align=justify><B>5.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </B><B>Benefits of this
Agreement </B></P>
<P align=justify>Nothing in this Agreement shall be construed to give to any
Person other than the Corporation, the Rights Agent and the holders of the
Rights any legal or equitable right, remedy or claim under this Agreement; this
Agreement shall be for the sole and exclusive benefit of the Corporation, the
Rights Agent and the holders of the Rights. </P>
<P align=justify><B>5.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </B><B>Shareholder
Reconfirmation </B></P>
<P align=justify>This Agreement must be reconfirmed by a resolution passed by a
majority of the votes cast by Independent Shareholders who vote in respect of
such resolution at the annual meeting of the Corporation to be held in 2021 and
at every third annual meeting of the Confirmation thereafter (each such annual meeting being a &#147;<b>Reconfirmation
Meeting</b>&#148;). If this Agreement is not so reconfirmed or is not presented for
reconfirmation at any such Reconfirmation Meeting, this Agreement and all
outstanding Rights shall terminate and be void and of no further force and
effect on and from the Close of Business on the date of the applicable
Reconfirmation Meeting; provided that termination shall not occur if a Flip-in
Event has occurred (other than a Flip-in Event which has been waived pursuant to
subsections 5.1(b), 5.1(d) or 5.1(f) hereof), prior to the date upon which this
Agreement would otherwise terminate pursuant to this Section 5.15. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_50></A>
<P align=center>- 50 - </P>
<P align=justify><B>5.16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </B><B>Determinations and
Actions by the Board of Directors </B></P>
<P align=justify>All actions, calculations, interpretations and determinations
(including all omissions with respect to the foregoing) which are done or made
by the Board of Directors, in good faith: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>may be relied upon by the Rights Agent (and in the case
      of reliance by the Rights Agent, the good faith of the Board of Directors
      shall be presumed); and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>shall not subject the Board of Directors to any liability
      to the holders of the Rights or to any other
parties.</P></TD></TR></TABLE>
<P align=justify><B>5.17&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</B><B>Force Majeure
</B></P>
<P align=justify>No party shall be liable to the other, or held in breach of
this Agreement, if prevented, hindered, or delayed in the performance or
observance of any provision contained herein by reason of act of God, riots,
terrorism, acts of war, epidemics, governmental action or judicial order,
earthquakes, or any other similar causes (including, but not limited to,
mechanical, electronic or communication interruptions, disruptions or failures).
Performance times under this Agreement shall be extended for a period of time
equivalent to the time lost because of any delay that is excusable under this
Section.</P>
<P align=justify><B>5.18&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </B><B>Governing Law
</B></P>
<P align=justify>This Agreement and the Rights issued hereunder shall be deemed
to be a contract made under the laws of the Province of British Columbia and for
all purposes will be governed by and construed in accordance with the laws of
such province applicable to contracts to be made and performed entirely within
such province. </P>
<P align=justify><B>5.19&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</B><B>Language </B></P>
<P align=justify>Les parties aux pr&#233;sentes ont exig&#233; que la pr&#233;sente convention
ainsi que tous les documents et avis qui s&#146;y rattachent ou qui en coulent soient
r&#233;dig&#233;s en langue anglaise. The parties hereto have required that this Agreement
and all documents and notices related thereto or resulting therefrom be drawn up
in English. </P>
<P align=justify><B>5.20&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</B><B>Severability
</B></P>
<P align=justify>If any term or provision hereof or the application thereof to
any circumstance is, in any jurisdiction and to any extent, invalid or
unenforceable, such term or provision will be ineffective only to the extent of
such invalidity or unenforceability without invalidating or rendering
unenforceable the remaining terms and provisions hereof or the application of
such term or provision to circumstances other than those as to which it is held
invalid or unenforceable. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_51></A>
<P align=center>- 51 - </P>
<P align=justify><B>5.21&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</B><B>Effective Date
</B></P>
<P align=justify>This Agreement is effective as of and from the Effective Date.
</P>
<P align=justify><B>5.22&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </B><B>Time of the
Essence </B></P>
<P align=justify>Time shall be of the essence hereof. </P>
<P align=justify><B>5.23&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </B><B>Counterparts
</B></P>
<P align=justify>This Agreement may be executed in any number of counterparts
and each of such counterparts will for all purposes be deemed to be an original,
and all such counterparts shall together constitute one and the same instrument.
</P>
<P align=center>[SIGNATURE PAGE FOLLOWS] </P>
<P align=justify><B>IN WITNESS WHEREOF</B>, the parties hereto have caused this
Agreement to be duly executed on December 21, 2018, but as of the date first
above written. </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>AURORA CANNABIS INC.</B> </TD>
    <TD align=left width="50%"><B>COMPUTERSHARE TRUST COMPANY OF</B>
      <B>CANADA</B> </TD></TR></TABLE><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%" align=left >By:</TD>
    <TD align=left width="44%" >&nbsp;/s/ Glen Ibbott </TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" >By:</TD>
    <TD align=left width="44%" >/s/ Evelyn Hsu </TD></TR>
  <TR vAlign=top>
    <TD width="5%" align=left ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="44%"
    >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="44%"
    >&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%" align=left >&nbsp; </TD>
    <TD align=left width="44%" >Name: Glen Ibbott </TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" >&nbsp; </TD>
    <TD align=left width="44%" >Name: </TD></TR>
  <TR vAlign=top>
    <TD width="5%" align=left >&nbsp; </TD>
    <TD align=left width="44%" >Title: Chief Financial Officer
</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" >&nbsp; </TD>
    <TD align=left width="44%" >Title: Account Manager, Emerging
      Issuer </TD></TR>
  <TR vAlign=top>
    <TD width="5%" align=left >&nbsp; </TD>
    <TD align=left width="44%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" >&nbsp; </TD>
    <TD align=left width="44%" >&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Solutions </TD></TR>
  <TR>
    <TD width="5%" >&nbsp; </TD>
    <TD width="44%" >&nbsp;</TD>
    <TD >&nbsp;</TD>
    <TD width="5%" >&nbsp; </TD>
    <TD width="44%" >&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%" align=left >By:</TD>
    <TD align=left width="44%" >&nbsp;/s/ Nilda Rivera </TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" >By:</TD>
    <TD align=left width="44%" >/s/ Vanessa Lee </TD></TR>
  <TR vAlign=top>
    <TD width="5%" align=left ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="44%"
    >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="44%"
    >&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%" align=left >&nbsp; </TD>
    <TD align=left width="44%" >Name: Nilda Rivera </TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" >&nbsp; </TD>
    <TD align=left width="44%" >Name: </TD></TR>
  <TR vAlign=top>
    <TD width="5%" align=left >&nbsp; </TD>
    <TD align=left width="44%" >Title: Vice President, Finance
</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" >&nbsp; </TD>
    <TD align=left width="44%" >Title: Relationship Manager,
      Emerging </TD></TR>
  <TR vAlign=top>
    <TD width="5%" align=left >&nbsp; </TD>
    <TD align=left width="44%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="5%" >&nbsp; </TD>
    <TD align=left width="44%" >&nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Issuer Solutions
</TD></TR></TABLE></DIV><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_52></A>
<P align=center><B>SCHEDULE &#147;A&#148; </B></P>
<P align=center>to a Shareholder Rights Plan Agreement made as of November 30,
2018, between Aurora Cannabis Inc. and Computershare Trust Company of Canada.
</P>
<P align=center><B>[Form of Rights Certificate] </B></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>Certificate No. </TD>
    <TD align=right width="50%">Rights </TD></TR></TABLE>
<P align=justify>THE RIGHTS ARE SUBJECT TO REDEMPTION, AT THE OPTION OF THE
CORPORATION, ON THE TERMS SET FORTH IN THE SHAREHOLDER RIGHTS PLAN AGREEMENT.
UNDER CERTAIN CIRCUMSTANCES (SPECIFIED IN SUBSECTION 3.1(b) OF SUCH AGREEMENT),
RIGHTS BENEFICIALLY OWNED BY AN ACQUIRING PERSON, CERTAIN RELATED PARTIES OF AN
ACQUIRING PERSON OR A TRANSFEREE OF AN ACQUIRING PERSON OR ANY SUCH RELATED
PARTIES WILL BECOME VOID WITHOUT FURTHER ACTION. </P>
<P align=center>Rights Certificate </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
certifies that _________________________ is the registered holder of the number
of Rights set forth above, each of which entitles the registered holder thereof,
subject to the terms, provisions and conditions of the Shareholder Rights Plan
Agreement made as of November 30<B>, </B>2018, as such agreement may from time
to time be amended, restated, varied or replaced (the &#147;<B>Rights Agreement</B>&#148;)
between Aurora Cannabis Inc., a corporation established pursuant to the laws of
British Columbia, (the &#147;<B>Corporation</B>&#148;) and Computershare Trust Company of
Canada, a trust company incorporated under the laws of Canada, as Rights Agent
(the &#147;<B>Rights Agent</B>&#148;) (which term shall include any successor Rights Agent
under the Rights Agreement), to purchase from the Corporation, at any time after
the Separation Time and prior to the Expiration Time (as such terms are defined
in the Rights Agreement), one fully paid common share of the Corporation (a
&#147;<B>Common Share</B>&#148;) at the Exercise Price referred to below, upon
presentation and surrender of this Rights Certificate, together with the Form of
Election to Exercise appropriately completed and duly executed, to the Rights
Agent at its principal office in Vancouver, British Columbia or Toronto,
Ontario. Until adjustment thereof in certain events as provided in the Rights
Agreement, the Exercise Price shall be equal to three times the Market Price per
Common Share (payable in cash, certified cheque or money order payable to the
order of the Corporation). </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
number of Common Shares which may be purchased for the Exercise Price is subject
to adjustment as set forth in the Rights Agreement. </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Rights Certificate is subject to all of the terms, provisions and conditions of
the Rights Agreement, which terms, provisions and conditions are hereby
incorporated by reference and made a part hereof and to which Rights Agreement
reference is hereby made for a full description of the rights, limitations of
rights, obligations, duties and immunities thereunder of the Rights Agent, the
Corporation and the holder of the Rights Certificates. By acceptance hereof, the
holder is deemed to accept, and agrees to be bound by the terms of the Rights
Agreement. Copies of the Rights Agreement are on file at the principal executive
offices of the Corporation and are available upon written request. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_53></A>
<P align=center>A-2</P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Rights Certificate, with or without other Rights Certificates, upon surrender at
the principal office of the Rights Agent in Vancouver, British Columbia or
Toronto, Ontario may be exchanged for another Rights Certificate or Rights
Certificates of like tenor evidencing an aggregate number of Rights equal to the
aggregate number of Rights evidenced by the Rights Certificate or Rights
Certificates surrendered. If this Rights Certificate shall be exercised in part,
the registered holder shall be entitled to receive, upon surrender hereof,
another Rights Certificate or Rights Certificates for the number of whole Rights
not exercised. </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
certain circumstances described in the Rights Agreement, each Right evidenced
hereby may be adjusted so as to entitle the registered holder thereof to
purchase or receive securities or shares in the capital of the Corporation other
than Common Shares or more or less than one Common Share (or a combination
thereof), all as provided in the Rights Agreement. </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to the provisions of the Rights Agreement, the Rights evidenced by this
Certificate may be redeemed by the Corporation at a redemption price of $0.00001
per Right subject to adjustment in certain events. </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
fractional Common Shares will be issued upon the exercise of any Right or Rights
evidenced hereby, but in lieu thereof a cash payment will be made, as provided
in the Rights Agreement. </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
holder of this Rights Certificate, as such, shall be entitled to vote or receive
dividends or be deemed for any purpose the holder of Common Shares or any other
securities which may at any time be issuable upon the exercise hereof, nor shall
anything contained in the Rights Agreement or herein be construed to confer upon
the holder hereof, as such, any of the rights of a shareholder of the
Corporation or any right to vote for the election of directors or upon any
matter submitted to shareholders at any meeting thereof, or to give or withhold
consent to any action, or to receive notice of any meeting or other actions
affecting shareholders (except as provided in the Rights Agreement), or to
receive dividends or subscription rights or otherwise, until the Rights
evidenced by this Rights Certificate shall have been exercised as provided in
the Rights Agreement. </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Rights Certificate shall not be valid for any purpose until it shall have been
countersigned by the Rights Agent. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_54></A>
<P align=center>A-3</P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
WITNESS the facsimile signature of the proper officers of the Corporation. </P>
<P align=justify>Date:&nbsp; _______________________<BR></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 >&nbsp;</TD>
    <TD align=left width="50%"><B>AURORA CANNABIS INC.</B> </TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">By:
    ___________________________________________</TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">By:
    ___________________________________________</TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%" >&nbsp;</TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">Countersigned: </TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%"><B>COMPUTERSHARE TRUST COMPANY</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%"><B>OF CANADA</B> </TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">By:
    ___________________________________________</TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_55></A>
<P align=center>A-4</P>
<P align=center><B>FORM OF ELECTION TO EXERCISE </B></P>
<P align=left><B>AURORA CANNABIS INC. </B></P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned hereby irrevocably elects to exercise __________________whole Rights
represented by this Rights Certificate to purchase the Common Shares issuable
upon the exercise of such Rights and requests that certificates for such Common
Shares be issued in the name of and delivered to: </P>
<P align=right>Rights Certificate No. ____________________</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Name </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Address </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>City and Province </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Social Insurance No. or other taxpayer identification
      numbers </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR></TABLE>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
such number of Rights shall not be all the Rights evidenced by this Rights
Certificate, a new Rights Certificate for the balance of such Rights shall be
registered in the name of and delivered to: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Name </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Address </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>City and Province </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Social Insurance No. or other taxpayer identification
      numbers </TD>
    <TD align=left width="50%" ></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=left >Date:&nbsp;
      ________________________________________</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="50%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">Signature </TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="50%"
    >&nbsp;</TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_56></A>
<P align=center>A-5</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>&nbsp; </TD>
    <TD align=left width="10%"  >&nbsp;</TD>
    <TD align=left width="45%">(Signature must correspond to name as </TD></TR>
  <TR vAlign=top>
    <TD align=left>Written Signature Guaranteed </TD>
    <TD align=left width="10%"  >&nbsp;</TD>
    <TD align=left width="45%">written upon the face of this Rights </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="10%"  >&nbsp;</TD>
    <TD align=left width="45%">Certificate in every particular, without </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="10%"  >&nbsp;</TD>
    <TD align=left width="45%">alteration or enlargement or any change </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="10%"  >&nbsp;</TD>
    <TD align=left width="45%">whatsoever) </TD></TR></TABLE>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature
must be Medallion guaranteed by a Canadian Schedule I chartered bank, 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). 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 in the United States or banks and
trust companies in the United States. </P>
<P align=center>(To be completed by the holder if true) </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned hereby represents, for the benefit of the Corporation and all
holders of Rights and Common Shares, that the Rights evidenced by this Rights
Certificate are not and, to the knowledge of the undersigned, have never been,
Beneficially Owned by an Acquiring Person or by an Affiliate or Associate of an
Acquiring Person, any other Person acting jointly or in concert with an
Acquiring Person or any Affiliate or Associate of any such other Person (as such
terms are defined in the Rights Agreement). </P>
<P align=right>Signature ____________________________________</P>
<P align=center>NOTICE </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>In
the event that the certifications set forth above in the Form of Election to
Exercise and Assignment are not completed, the Corporation shall deem the
Beneficial Owner of the Rights represented by this Rights Certificate to be an
Acquiring Person (as defined in the Rights Agreement) and, accordingly, such
Rights shall be null and void. </B></P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_57></A>
<P align=center>A-6</P>
<P align=center><B>FORM OF ASSIGNMENT </B></P>
<P align=center>FOR VALUE RECEIVED, the undersigned hereby sells, assigns and
transfers unto </P>
<P align=justify>________________________________________<BR>(Please print name
and address of transferee) <BR></P>
<P align=justify>the Rights represented by this Rights Certificate, together
with all right, title and interest therein. </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>Date: __________________________________</TD>
    <TD align=left width="50%">Signature:
      _____________________________________________</TD></TR>
  <TR vAlign=top>
    <TD align=left>Written Signature Guaranteed </TD>
    <TD align=left width="50%">(Signature must correspond to name as written
      upon the face of this Rights Certificate in every particular, without
      alteration or enlargement or any change whatsoever) </TD></TR></TABLE>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature
must be Medallion guaranteed by a Canadian Schedule I chartered bank, 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). 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 in the United States or banks and
trust companies in the United States. </P>
<P align=center>(To be completed by the assignor if true) </P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned hereby represents, for the benefit of the Corporation and all
holders of Rights and Common Shares, that the Rights evidenced by this Rights
Certificate are not and, to the knowledge of the undersigned have never been,
Beneficially Owned by an Acquiring Person or by an Affiliate or Associate of an
Acquiring Person, any other Person acting jointly or in concert with an
Acquiring Person or any Affiliate or Associate of any such other Person (as such
terms are defined in the Rights Agreement). </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD align=left >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="50%"
    >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">Signature </TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR>
    <TD align=left >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="50%"
    >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">(Please print name below signature)
  </TD></TR></TABLE>
<P align=center><B>NOTICE </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>In the event that the certifications set forth
above in the Form of Election to Exercise and Assignment are not completed, the
Corporation shall deem the Beneficial Owner of the Rights represented by this
Rights Certificate to be an Acquiring Person (as defined in the Rights
Agreement) and, accordingly, such Rights shall be null and void </B></P>
<HR align=center width="100%" color=black noShade SIZE=5>

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