<SEC-DOCUMENT>0001144204-18-032457.txt : 20180601
<SEC-HEADER>0001144204-18-032457.hdr.sgml : 20180601
<ACCEPTANCE-DATETIME>20180601172542
ACCESSION NUMBER:		0001144204-18-032457
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20180601
FILED AS OF DATE:		20180601
DATE AS OF CHANGE:		20180601

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ONCOLYTICS BIOTECH INC
		CENTRAL INDEX KEY:			0001129928
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38512
		FILM NUMBER:		18876080

	BUSINESS ADDRESS:	
		STREET 1:		1167 KENSINGTON CRES NW SUITE 210
		STREET 2:		CALGARY ALBERTA CANADA T2N 1X7
		CITY:			ALBERTA CANADA
		STATE:			A0
		ZIP:			00000
		BUSINESS PHONE:		4036707380

	MAIL ADDRESS:	
		STREET 1:		210 - 1167 KENSINGTON CRES NW
		CITY:			CALGARY
		STATE:			A0
		ZIP:			T2N 1X7
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>tv495728_6k.htm
<DESCRIPTION>6-K
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<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Form 6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Report of Foreign Private Issuer</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Rule&nbsp;13a-16 or 15d-16</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>of the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">For the month of&nbsp;June 2018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Commission File Number 001-38512</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>Oncolytics
Biotech Inc.&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>(Translation of registrant&rsquo;s name
into English)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Suite&nbsp;210, 1167 Kensington Crescent
NW</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Calgary, Alberta, Canada T2N 1X7&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>(Address of principal executive offices)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant files or will
file annual reports under cover Form&nbsp;20-F or Form&nbsp;40-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 41%; padding-top: 2pt; padding-bottom: 2pt; font-size: 10pt; text-align: center">Form&nbsp;20-F&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&thorn;</FONT></TD>
    <TD STYLE="width: 20%; padding-top: 2pt; padding-bottom: 2pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 39%; padding-top: 2pt; padding-bottom: 2pt; font-size: 10pt; text-align: center">Form&nbsp;40-F&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">o</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark if the registrant is submitting the Form&nbsp;6-K
in paper as permitted by Regulation&nbsp;S-T Rule&nbsp;101(b)(1):&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Note:</B> Regulation&nbsp;S-T Rule&nbsp;101(b)(1) only permits
the submission in paper of a Form&nbsp;6-K if submitted solely to provide an attached annual report to security holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark if the registrant is submitting the Form&nbsp;6-K
in paper as permitted by Regulation&nbsp;S-T Rule&nbsp;101(b)(7):&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Note:</B> Regulation&nbsp;S-T Rule&nbsp;101(b)(7) only permits
the submission in paper of a Form&nbsp;6-K if submitted to furnish a report or other document that the registrant foreign private
issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally
organized (the registrant&rsquo;s &ldquo;home country&rdquo;), or under the rules of the home country exchange on which the registrant&rsquo;s
securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed
to the registrant&rsquo;s security holders, and, if discussing a material event, has already been the subject of a Form&nbsp;6-K
submission or other Commission filing on EDGAR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>INCORPORATION BY REFERENCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Underwriting Agreement
dated June 1, 2018 included as Exhibit&nbsp;99.1 of this Form&nbsp;6-K are incorporated by reference into the Registrant&rsquo;s
Registration Statement on Form&nbsp;F-10 (Commission File No333-224432).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 12%; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NUMBER&nbsp;</B></P></TD>
    <TD STYLE="width: 2%; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="width: 86%; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><B>DESCRIPTION</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt; text-align: center">99.1</TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">Underwriting Agreement dated June 1, 2018</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; padding: 0; text-indent: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Oncolytics Biotech Inc.</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Registrant)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0; width: 55%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-indent: 0; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0; width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-indent: 0; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0; width: 37%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding: 0; text-indent: 0">Date: June 1, 2018</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0">By:</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-indent: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/&nbsp;<I>&nbsp;Kirk Look</I></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Kirk Look</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chief Financial Officer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tv495728_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: right"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">EXECUTION VERSION</P>



<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>UNDERWRITING AGREEMENT</U></B><BR>
<BR></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>1,372,213 Common Shares</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><BR>
ONCOLYTICS BIOTECH Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>(</B></FONT><B>incorporated
under the <I>Business Corporations Act</I> (Alberta))</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">June 1, 2018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladenburg Thalmann &amp; Co. Inc.<BR>
277 Park Avenue, 26th Floor<BR>
New York, NY 10172<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As Representative of the several Underwriters</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">c/o Ladenburg Thalmann &amp; Co. Inc.<BR>
277 Park Avenue, 26th Floor<BR>
New York, NY 10172</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Oncolytics Biotech
Inc., a company incorporated under the <I>Business Corporations Act</I> (Alberta) (the &ldquo;<B><I>Company</I></B>&rdquo;), proposes
to sell to the several underwriters named in <U>Schedule I</U> hereto (the &ldquo;<B><I>Underwriters</I></B>&rdquo;) for whom Ladenburg
Thalmann &amp; Co. Inc. is acting as representative (the &ldquo;<B><I>Representative</I></B>&rdquo;), an aggregate of 1,372,213
common shares (each, a &ldquo;<B><I>Firm Share</I></B>&rdquo;), no par value, of the Company (the &ldquo;<B><I>Common Shares</I></B>&rdquo;).
The Company also proposes to grant to the Underwriters an option to purchase up to 205,832 additional Common Shares (the &ldquo;<B><I>Option
Shares</I></B>&rdquo; and, together with the Firm Shares, the &ldquo;<B><I>Shares</I></B>&rdquo;). To the extent there are no additional
Underwriters listed on <U>Schedule I</U> hereto, the term &ldquo;Representative&rdquo; as used herein shall mean Ladenburg Thalmann
&amp; Co. Inc. as Underwriter and the term &ldquo;Underwriters&rdquo; shall be construed as singular.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;The Company hereby
confirms its agreement with respect to the sale of the Shares to the Underwriters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Registration
Statement and Prospectus</I></B>. The Company has prepared and filed with the securities regulatory authorities (the &ldquo;<B><I>Qualifying
Authorities</I></B>&rdquo;) in each of the provinces and territories of Canada (the &ldquo;<B><I>Qualifying Jurisdictions</I></B>&rdquo;)
a preliminary short form base shelf prospectus dated April 25, 2018 (the &ldquo;<B><I>Canadian Preliminary Base Prospectus</I></B>&rdquo;),
and the Canadian Base Prospectus (as defined below), in respect of an aggregate of up to Cdn.$150,000,000 in certain securities
of the Company, including Common Shares (collectively, the &ldquo;<B><I>Shelf Securities</I></B>&rdquo;). The Company has selected
the Alberta Securities Commission (the &ldquo;<B><I>Reviewing Authority</I></B>&rdquo;) as its principal regulator under the passport
system procedures provided for under Multilateral Instrument&nbsp;11-102 &ndash; Passport System and National Policy&nbsp;11-202
&ndash; Process for Prospectus Reviews in Multiple Jurisdictions (collectively, the &ldquo;<B><I>Passport System</I></B>&rdquo;)
in respect of the offering of the Shelf Securities. The Reviewing Authority has issued a receipt, which is deemed to also be a
receipt of each of the other Qualifying Authorities pursuant to the Passport System (a &ldquo;<B><I>Passport Decision Document</I></B>&rdquo;),
for each of the Canadian Preliminary Base Prospectus and the Canadian Base Prospectus. The term &ldquo;<B><I>Canadian Base Prospectus</I></B>&rdquo;
means the final short form base shelf prospectus dated May 4, 2018 relating to the Shelf Securities, including any documents incorporated
by reference therein and the documents otherwise deemed to be incorporated by reference therein pursuant to Canadian Securities
Laws (as defined below), at the time the Reviewing Authority issued a Passport Decision Document with respect thereto in accordance
with Canadian Securities Laws, including National Instrument&nbsp;44-101 &ndash; <I>Short Form Prospectus Distributions</I> and
National Instrument&nbsp;44-102 &ndash; <I>Shelf Distributions</I> (together, the &ldquo;<B><I>Canadian Shelf Procedures</I></B>&rdquo;).
The Company has also prepared and filed with the Reviewing Authority in accordance with the Canadian Shelf Procedures a preliminary
prospectus supplement dated May 31, 2018, relating to the Shares, which excluded certain information (&ldquo;<B><I>Canadian Preliminary
Prospectus Supplement</I></B>&rdquo;, together with the Canadian Base Prospectus, and including any documents incorporated therein
by reference and the documents otherwise deemed to be incorporated by reference therein pursuant to Canadian Securities Laws, the
&ldquo;<B><I>Canadian Preliminary Prospectus</I></B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company has also
prepared and filed with the United States Securities and Exchange Commission (the &ldquo;<B><I>Commission</I></B>&rdquo;) a registration
statement on Form&nbsp;F-10 (File No. 333-224432) covering the registration of the Shelf Securities under the United States Securities
Act of 1933, as amended (the &ldquo;<B><I>Securities Act</I></B>&rdquo; or &ldquo;<B><I>Act</I></B>&rdquo;) and the rules and regulations
(the &ldquo;<B><I>Rules and Regulations</I></B>&rdquo;) of the Commission thereunder, and such amendments to such registration
statement as may have been permitted or required under the Act and Rules and Regulations to the date of this Agreement. Such registration
statement on Form F-10, including the Canadian Base Prospectus (with such deletions therefrom and additions thereto as are permitted
or required by Form&nbsp;F-10 and the Rules and Regulations) and including exhibits to such registration statement has become effective
in such form pursuant to Rule&nbsp;467(b) under the Securities Act. Such registration statement, at any given time, including amendments
thereto to such time, the exhibits and any schedules thereto at such time and the documents incorporated by reference therein pursuant
to Item&nbsp;4 of Form&nbsp;F-10 under the Securities Act, at such time, is herein called the &ldquo;<B><I>Registration Statement</I></B><I>.</I>&rdquo;
The Registration Statement at the time it originally became effective pursuant to the Rules and Regulations is herein called the
&ldquo;<B><I>Original Registration Statement</I></B>.&rdquo; The Canadian Base Prospectus (with such deletions therefrom and additions
thereto as are permitted or required by Form&nbsp;F-10 and the Rules and Regulations) in the form in which it appeared in the Original
Registration Statement and including the documents incorporated therein by reference is herein called the &ldquo;<B><I>U.S. Base
Prospectus</I></B>.&rdquo; The Canadian Preliminary Prospectus Supplement (with such deletions therefrom and additions thereto
as are permitted or required by Form&nbsp;F-10 and the Rules and Regulations), relating to the offering of the Shares, including
all documents incorporated therein by reference, filed with the Commission pursuant to General Instruction II.L of Form&nbsp;F-10
under the Securities Act, (the &ldquo;<B><I>U.S. Preliminary Prospectus Supplement</I></B>, together with the U.S. Base Prospectus,
is hereinafter called the &ldquo;<B><I>U.S. Preliminary Prospectus</I></B>.&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, the Company
(i)&nbsp;shall prepare and file with the Reviewing Authority in accordance with <U>Section&nbsp;4(a)</U> hereof a final prospectus
supplement (the &ldquo;<B><I>Canadian Final Prospectus Supplement</I></B>&rdquo;) to the Canadian Base Prospectus relating to the
Shares, which includes the information omitted from the Canadian Preliminary Prospectus (together with the Canadian Base Prospectus,
and including any documents incorporated therein by reference and the documents otherwise deemed to be a part thereof or included
therein pursuant to Canadian Securities Laws, the &ldquo;<B><I>Canadian Final Prospectus</I></B>&rdquo;), and (ii)&nbsp;shall prepare
and file with the Commission pursuant to General Instruction II.L of Form&nbsp;F-10 and in accordance with <U>Section&nbsp;4(a)</U>
hereof the Canadian Final Prospectus Supplement (with such deletions therefrom and additions thereto as are permitted or required
by Form&nbsp;F-10 and the Rules and Regulations) (the <I>&ldquo;<B>U.S. Final Prospectus Supplement</B>&rdquo;) </I>to the U.S.
Base Prospectus relating to the offering of the Shares (including all documents incorporated therein by reference, together with
the U.S. Base Prospectus, the &ldquo;<B><I>U.S. Final Prospectus</I></B>&rdquo;). The U.S. Preliminary Prospectus and the Canadian
Preliminary Prospectus are referred to herein as the &ldquo;<B><I>Preliminary Prospectuses</I></B>,&rdquo; and the U.S. Final Prospectus
and the Canadian Final Prospectus are referred to herein as the &ldquo;<B><I>Final Prospectuses</I></B>.&rdquo; Any amendment to
the Canadian Final Prospectus, any amended or supplemental prospectus, any management information circular, financial statement,
management&rsquo;s discussion and analysis, annual information form, business acquisition report or material change report that
may be filed by or on behalf of the Company under the securities laws of the Qualifying Jurisdictions prior to the expiry of the
period of distribution of the Shares, where such document is deemed to be incorporated by reference into the Canadian Final Prospectus,
is referred to herein collectively as the &ldquo;<B><I>Supplementary Material</I></B>.&rdquo; Any reference herein to any &ldquo;amendment&rdquo;
or &ldquo;supplement&rdquo; to the U.S. Preliminary Prospectus or the U.S. Final Prospectus shall be deemed to refer to and include
(i) the filing of any document with the Reviewing Authority or the Commission after the date of the U.S. Preliminary Prospectus
or the U.S. Final Prospectus, as the case may be, and prior to the First Closing Date or Second Closing Date, as applicable, which
is incorporated therein by reference or is otherwise deemed to be a part thereof or included therein by Item 4 of Form F-10 and
the Rules and Regulations and (ii) any such document so filed prior to the First Closing Date or Second Closing Date, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Underwriters shall
offer the Shares for sale to the public directly and through other investment dealers and brokers in the United States of America
(the &ldquo;<B><I>United States</I></B>&rdquo;) only as permitted by applicable law and upon the terms and conditions set forth
in the U.S. Final Prospectus and this Agreement. It is acknowledged and agreed that the Canadian Final Prospectus shall not contemplate
making sales of any prospectus qualified Shares to purchasers in Canada and, accordingly, shall expressly state that it does not
qualify the distribution of any securities to purchasers in any province or territory of Canada and shall not contain any underwriter&rsquo;s
certificate. The Underwriters may, however, sell Shares to purchasers in certain provinces of Canada pursuant to exemptions from
the prospectus requirements of applicable Canadian securities laws, through securities dealers duly registered to sell such securities
under applicable Canadian securities laws. The Underwriters agree that they will not, directly or indirectly, distribute the Registration
Statement, the U.S. Preliminary Prospectus or the U.S. Final Prospectus or publish any prospectus, circular, advertisement or other
offering material in any jurisdiction other than such states of the United States in which the Shares are duly qualified under
U.S. federal and applicable U.S. state securities laws (or in circumstances where such state securities laws are preempted), in
such manner as to require registration of the Shares or the filing of a prospectus or any similar document with respect to the
Shares by the Company therein or subject the Company to ongoing periodic reporting obligations in such jurisdiction pursuant to
the securities laws of such jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company has also
prepared and filed with the Commission an appointment of agent for service of process upon the Company on Form&nbsp;F-X in conjunction
with the filing of the Registration Statement (the &ldquo;<B><I>Form&nbsp;F-X</I></B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For purposes of this
Agreement, all references to the Registration Statement, the U.S. Base Prospectus or the U.S. Preliminary Prospectus, any Issuer
Free Writing Prospectus (as defined below) or the U.S. Final Prospectus, or any amendment or supplement to any of the foregoing,
shall be deemed to include the copy filed with the Commission pursuant to its Electronic Data Gathering, Analysis and Retrieval
System (&ldquo;<B><I>EDGAR</I></B>&rdquo;). For purposes of this Agreement, all references to the Canadian Preliminary Base Prospectus,
the Canadian Base Prospectus, the Canadian Preliminary Prospectus or the Canadian Final Prospectus, or any amendment or supplement
to any of the foregoing (including any Supplementary Material), shall include the copy filed with the Qualifying Authorities pursuant
to the System for Electronic Document Analysis and Retrieval (&ldquo;<B><I>SEDAR</I></B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All references in this
Agreement to financial statements and schedules and other information which is &ldquo;contained,&rdquo; &ldquo;included&rdquo;
or &ldquo;stated&rdquo; in the Registration Statement, the U.S. Base Prospectus, the U.S. Preliminary Prospectus or the U.S. Final
Prospectus (or other references of like import) shall be deemed to mean and include all such financial statements and schedules
and other information which are incorporated by reference in or otherwise deemed by Item 4 of Form F-10 and the Rules and Regulations
to be a part of or included in the Registration Statement, the U.S. Base Prospectus, the U.S. Preliminary Prospectus or the U.S.
Final Prospectus, as the case may be; and all references in this Agreement to amendments or supplements to the Registration Statement,
the U.S. Base Prospectus, the U.S. Preliminary Prospectus or the U.S. Final Prospectus shall be deemed to mean and include the
filing of any document under the United States Securities Exchange Act of 1934, as amended (the &ldquo;<B><I>Exchange Act</I></B>&rdquo;),
which is incorporated by reference in or otherwise deemed by Item 4 of Form F-10 and the Rules and Regulations to be a part of
or included in the Registration Statement, the U.S. Base Prospectus, the U.S. Preliminary Prospectus or the U.S. Final Prospectus,
as the case may be. All references in this Agreement to financial statements and other information which is &ldquo;contained,&rdquo;
&ldquo;included&rdquo; or &ldquo;stated&rdquo; in the Canadian Preliminary Base Prospectus, the Canadian Base Prospectus, the Canadian
Preliminary Prospectus or the Canadian Final Prospectus (or other references of like import) shall be deemed to mean and include
all such financial statements and other information which is incorporated by reference in or otherwise deemed by Canadian Securities
Laws to be a part of or included in the Canadian Preliminary Base Prospectus, the Canadian Base Prospectus, the Canadian Preliminary
Prospectus or the Canadian Final Prospectus, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Representations
and Warranties of the Company</I></B>. The Company represents and warrants to, and agrees with, the Underwriters as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company is a reporting issuer in each Qualifying Jurisdiction, is not in default under the securities laws of any Qualifying Jurisdiction,
and is in compliance in all material respects with its timely disclosure obligations under the Exchange Act, the Canadian Securities
Laws and the requirements of the Toronto Stock Exchange (the &ldquo;<B><I>TSX</I></B>&rdquo;). The Company meets the general eligibility
requirements for use of the Canadian Shelf Procedures and for the use of a short form base shelf prospectus with respect to a distribution
of securities. The Company meets the general eligibility requirements for use of Form F-10 under the Securities Act. The Reviewing
Authority has issued a Passport Decision Document on behalf of itself and the other Qualifying Authorities for each of the Canadian
Preliminary Base Prospectus and the Canadian Base Prospectus; subsequent to the issuance of the Passport Decision Document for
the Canadian Base Prospectus, no other document with respect to the Canadian Base Prospectus has heretofore been filed or transmitted
for filing with the Qualifying Authorities, except for any document filed with the Qualifying Authorities subsequent to the date
of such Passport Decision Document in the form heretofore delivered to the Underwriters (including supplements to the Canadian
Base Prospectus that are not applicable to the transactions contemplated by this Agreement).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Statutory Prospectus (as defined below) at the Time of Sale (as defined below) complies with the requirements of the Securities
Act, Form F-10 and the Rules and Regulations in all material respects and does not contain an untrue statement of a material fact
or omit to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Original Registration Statement initially became effective under the Securities Act on May 7, 2018. No stop order suspending the
effectiveness of the Registration Statement is in effect and no proceedings for such purpose have been instituted or are pending
or, to the knowledge of the Company, are contemplated or threatened by the Commission. No order, ruling or determination having
the effect of suspending the sale or ceasing the trading of any securities of the Company (including the Shares) has been issued
or made by any Qualifying Authority, any other securities commission, stock exchange or other regulatory authority and no proceedings
for that purpose have been instituted or are pending or, to the Company&rsquo;s knowledge, are contemplated by any such authority.
Any request on the part of the Commission, any Qualifying Authority or any other securities commission, stock exchange or other
regulatory authority for additional information in connection with the offering contemplated hereby has been complied with.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
part of the Registration Statement and any post-effective amendment thereto, at the time such part became effective, and at the
First Closing Date and the Second Closing Date (as defined below), as the case may be, and the U.S. Final Prospectus (or any amendment
or supplement to the U.S. Final Prospectus), at the time it is first filed in accordance with General Instruction II.L of Form
F-10 or the time of first use within the meaning of the Rules and Regulations, and at the First Closing Date or Second Closing
Date, as the case may be, complied and will comply in all material respects with the applicable requirements and provisions of
the Securities Act, Form F-10 and the Rules and Regulations and did not and will not contain any untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, solely in the
case of the U.S. Final Prospectus in the light of the circumstances under which they were made, not misleading. The representations
and warranties set forth in the immediately preceding sentence do not apply to statements in or omissions from the Registration
Statement, or any post-effective amendment thereto, or the U.S. Final Prospectus, or any amendments or supplements thereto, made
in reliance upon and in conformity with written information relating to the Underwriters furnished to the Company through the Representative
by or on behalf of any Underwriter specifically for use therein; it being understood and agreed that the only such information
furnished by the Underwriters consists of the information described as such in <U>Section&nbsp;6(g)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">At the time of filing
thereof with the Qualifying Authorities and at the First Closing Date and the Second Closing Date: (A)&nbsp;the Canadian Preliminary
Prospectus and the Canadian Final Prospectus (and any further amendments or supplements thereto, including any Supplementary Material)
complied and will comply in all material respects with the securities laws applicable in the Qualifying Jurisdictions and the respective
instruments, rules and regulations made and forms prescribed under such laws together with applicable published policy statements
(including, without limitation, the Canadian Shelf Procedures) and applicable notices of the Qualifying Authorities made in connection
with the transactions contemplated by this Agreement (collectively, the &ldquo;<B><I>Canadian Securities Laws</I></B>&rdquo;);
and (B)&nbsp;the Canadian Preliminary Prospectus and the Canadian Final Prospectus (and any further amendments or supplements thereto,
including any Supplementary Material) constituted and will constitute full, true and plain disclosure of all material facts relating
to the Shares and the Company and its Subsidiaries, taken as a whole, and did not and will not contain a misrepresentation, as
defined under Canadian Securities Laws, and did not and will not include an untrue statement of a material fact or omit to state
a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made,
not misleading.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">The U.S. Preliminary
Prospectus conformed and will conform to the Canadian Preliminary Prospectus and the U.S. Final Prospectus conformed and will conform
to the Canadian Final Prospectus, in each case except for such deletions therefrom and additions thereto as are permitted or required
by Form&nbsp;F-10 and the Rules and Regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
(A)&nbsp;any Issuer General Free Writing Prospectus(es) issued at or prior to the Time of Sale and set forth on <U>Schedule II</U>,
the information set forth on <U>Schedule&nbsp;III</U> and the U.S. Preliminary Prospectus at the Time of Sale, all considered together
(collectively, the &ldquo;<B><I>Time of Sale Disclosure Package</I></B>&rdquo;), nor (B)&nbsp;any individual Issuer Limited-Use
Free Writing Prospectus, when considered together with the Time of Sale Disclosure Package, includes or included as of the Time
of Sale any untrue statement of a material fact or omits or omitted as of the Time of Sale to state any material fact necessary
in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. The preceding
sentence does not apply to statements in or omissions from any Statutory Prospectus or any Issuer Free Writing Prospectus based
upon and in conformity with written information relating to the Underwriters furnished to the Company through the Representative
by or on behalf of any Underwriter specifically for use therein; it being understood and agreed that the only such information
furnished by the Underwriters consists of the information described as such in <U>Section&nbsp;6(g)</U>. As used in this paragraph
and elsewhere in this Agreement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">&ldquo;<B><I>Time
of Sale</I></B>&rdquo; means 9:00 a.m. (New York time) on the date of this Agreement, or such other time as agreed to by the Company
and the Representative. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">&ldquo;<B><I>Statutory
Prospectus</I></B>&rdquo; means the U.S. Base Prospectus, as amended and supplemented immediately prior to the Time of Sale, including
any document incorporated by reference therein and any prospectus supplement deemed to be a part thereof. For purposes of this
definition, information contained in a form of prospectus supplement filed in accordance with General Instruction II.L of Form
F-10 shall be considered to be included in the Statutory Prospectus as of the actual time that the form of prospectus supplement
is filed with the Commission under the Securities Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">&ldquo;<B><I>Issuer
Free Writing Prospectus</I></B>&rdquo; means any &ldquo;issuer free writing prospectus,&rdquo; as defined in Rule&nbsp;433 under
the Securities Act, relating to the Shares that (A)&nbsp;is required to be filed with the Commission by the Company, or (B)&nbsp;is
exempt from filing pursuant to Rule&nbsp;433(d)(5)(i) under the Securities Act because it contains a description of the Shares
or of the offering that does not reflect the final terms, or is a &ldquo;bona fide electronic roadshow,&rdquo; as defined in Rule&nbsp;433
of the Rules and Regulations, in each case in the form filed or required to be filed with the Commission or, if not required to
be filed, in the form retained in the Company&rsquo;s records pursuant to Rule&nbsp;433(g) under the Securities Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">&ldquo;<B><I>Issuer
General Free Writing Prospectus</I></B>&rdquo; means any Issuer Free Writing Prospectus that is intended for general distribution
to prospective investors, as evidenced by its being specified in <U>Schedule&nbsp;II</U> hereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">&ldquo;<B><I>Issuer
Limited-Use Free Writing Prospectus</I></B>&rdquo; means any Issuer Free Writing Prospectus that is not an Issuer General Free
Writing Prospectus.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)
Each Issuer Free Writing Prospectus, as of its issue date did not include any information that conflicted with the information
contained in the Registration Statement, any Statutory Prospectus or the U.S. Final Prospectus. The foregoing sentence does not
apply to statements in or omissions from any Issuer Free Writing Prospectus based upon and in conformity with written information
relating to the Underwriters furnished to the Company through the Representative by or on behalf of any Underwriter specifically
for use therein; it being understood and agreed that the only such information furnished by the Underwriters consists of the information
described as such in <U>Section&nbsp;6(g)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(B)(1) At the earliest
time after the filing of the Registration Statement that the Company or another offering participant made a <I>bona fide</I> offer
(within the meaning of Rule&nbsp;164(h)(2) under the Securities Act) of the Shares and (2)&nbsp;at the date hereof, the Company
was not and is not an &ldquo;ineligible issuer,&rdquo; as defined in Rule&nbsp;405 under the Securities Act, in the preceding three
years not having been convicted of a felony or misdemeanor or having been made the subject of a judicial or administrative decree
or order as described in Rule&nbsp;405 (without taking account of any determination by the Commission pursuant to Rule&nbsp;405
that it is not necessary that the Company be considered an ineligible issuer), nor an &ldquo;excluded issuer&rdquo; as defined
in Rule&nbsp;164 under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(C) Each Issuer Free
Writing Prospectus satisfied, as of its issue date, all other conditions to use thereof as set forth in Rules&nbsp;164 and 433
under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
U.S. Preliminary Prospectus and the U.S. Final Prospectus delivered or to be delivered to the Underwriters for use in connection
with this offering was or will be substantially identical to the electronically transmitted copies thereof filed with the Commission
pursuant to EDGAR, except to the extent permitted by Regulation S-T. The Canadian Preliminary Prospectus and the Canadian Final
Prospectus delivered or to be delivered to the Underwriters for use in connection with this offering was or will be identical to
the electronically transmitted copies thereof filed by the Company with the Qualifying Authorities pursuant to SEDAR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
financial statements of the Company, together with the related notes, set forth or incorporated by reference in the Registration
Statement, the Time of Sale Disclosure Package and the Final Prospectuses comply in all material respects with the requirements
of the Securities Act and the Exchange Act and fairly present in all material respects the financial condition of the Company as
of the dates indicated and the results of operations and changes in cash flows for the periods therein specified in conformity
with international financial reporting standards as issued by the International Accounting Standards Board (&ldquo;<B><I>IFRS</I></B>&rdquo;),
consistently applied throughout the periods involved; and the supporting schedules included in the Registration Statement, if any,
the Time of Sale Disclosure Package and the Final Prospectuses have been derived from the accounting records of the Company and
present fairly in all material respects the information required to be stated therein. No other schedules or financial statements
are required to be included in the Registration Statement, the Time of Sale Disclosure Package or the Final Prospectuses. To the
Company&rsquo;s knowledge, Ernst &amp; Young LLP, which has audited or reviewed, as applicable, the financial statements filed
as a part of the Registration Statement and included in the Registration Statement, the Time of Sale Disclosure Package and the
Final Prospectuses, are independent public accountants as required by the Securities Act, the Rules and Regulations and Canadian
Securities Laws, are in good standing with the Canadian Public Accountability Board. Ernst &amp; Young LLP are independent with
respect to the Company within the meaning of the Sarbanes-Oxley Act of 2002 (the &ldquo;<B><I>Sarbanes-Oxley Act</I></B>&rdquo;)
for the periods required under General Instruction III.B. of Form F-10, and are also independent with respect to the Company as
required by the <I>Business Corporations Act</I> (Alberta), applicable Canadian Securities Laws and applicable Canadian professional
standards. There has not been a &ldquo;reportable event&rdquo; (within the meaning of Section 4.11 of National Instrument 51-102
&ndash; <I>Continuous Disclosure Obligations</I>) between Ernst &amp; Young LLP and the Company. Except as described in the Time
of Sale Disclosure Package and the Final Prospectuses, there are no material off-balance sheet transactions, arrangements, obligations
(including contingent obligations), or any other relationships with unconsolidated entities or other persons, that may have a material
current or, to the Company&rsquo;s knowledge, future effect on the Company&rsquo;s financial condition, changes in financial condition
or results of operations.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company has been duly incorporated and is validly existing as a company in good standing under the <I>Business Corporations Act</I>
(Alberta). The Company has full corporate power and authority to own its properties and conduct its business as currently being
conducted and as described in the Registration Statement, the Time of Sale Disclosure Package and the Final Prospectuses, and is
duly qualified to do business as a foreign corporation in good standing in each jurisdiction in which the failure to so qualify
would reasonably be expected to (i) result in a material adverse change in the general affairs, condition (financial or otherwise),
business, prospects, property, operations or results of operations of the Company or (ii) affect the ability of the Company to
perform its obligations under this Agreement, including the issuance and sale of the Shares (&ldquo;<B><I>Material Adverse Change</I></B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oncolytics
Biotech (Barbados) Inc. and Oncolytics Biotech (US) Inc. are direct or indirect wholly-owned subsidiaries of the Company (collectively,
the &ldquo;<B><I>Subsidiaries</I></B>&rdquo;), have been duly incorporated and are validly existing as corporations in good standing
under the laws of their respective jurisdictions of incorporation, have the corporate power and authority to own, lease and operate
their respective properties and to conduct their respective business as described in the Time of Sale Disclosure Package and the
Final Prospectuses and are duly qualified to transact business and are in good standing in each jurisdiction in which such qualification
is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure so
to qualify or to be in good standing would not reasonably be expected to result in a Material Adverse Change. All of the issued
and outstanding shares in the capital of each Subsidiary have been duly authorized and validly issued and are fully paid and non-assessable
and are owned by the Company, directly or through subsidiaries, free and clear of any security interest, mortgage, pledge, lien,
encumbrance, claim or equity, except for any security interests, mortgages, pledges, liens, encumbrances, claims or equities that
are described in the Time of Sale Disclosure Package and the Final Prospectuses; none of the outstanding shares in the capital
of the Subsidiaries was issued in violation of preemptive or other similar rights of any shareholder of such Subsidiaries. Other
than the Subsidiaries, the Company does not, directly or indirectly, own capital stock or other equity or ownership or proprietary
interest in any corporation, partnership, association, trust or other entity.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as contemplated in the Time of Sale Disclosure Package and the Final Prospectuses, subsequent to the respective dates as of which
information is given in the Time of Sale Disclosure Package, (a) the Company has not incurred any material liabilities or obligations,
direct or contingent, or entered into any material transactions, or declared or paid any dividends or made any distribution of
any kind with respect to its capital stock; and (b)&nbsp;there has not been any change in the capital stock (other than a change
in the number of outstanding Common Shares due to the issuance of equity compensation awards under the Company&rsquo;s equity compensation
plans or shares upon the exercise of outstanding options or warrants), or any material change in the short-term or long-term debt,
or any issuance of options, warrants, convertible securities or other rights to purchase the capital stock, of the Company (other
than issuances of equity compensation awards under the Company&rsquo;s equity compensation plans), or any Material Adverse Change
or any development that could reasonably be expected to result in a Material Adverse Change.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as set forth in the Time of Sale Disclosure Package and the Final Prospectuses, there is not pending or, to the knowledge of the
Company, threatened or contemplated, any action, suit or proceeding to which the Company is a party or of which any property or
assets of the Company is the subject before or by any court or governmental agency, authority or body, or any arbitrator, which,
individually or in the aggregate, could reasonably be expected to result in any Material Adverse Change. There are no current or
pending legal, governmental or regulatory actions, suits or proceedings that are required to be described in the Registration Statement,
the Time of Sale Disclosure Package and the Final Prospectuses that have not been so described.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
are no material statutes, regulations, contracts or documents that are required to be described in the Registration Statement,
the Time of Sale Disclosure Package and the Final Prospectuses or to be filed as exhibits to the Registration Statement by the
Securities Act, Form F-10 or by the Rules and Regulations that have not been so described or filed.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(n)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Agreement has been duly authorized, executed and delivered by the Company, and constitutes a valid, legal and binding obligation
of the Company, enforceable in accordance with its terms, except as rights to indemnity hereunder may be limited by federal, state
or provincial securities laws, subject to the general qualifications that: (i) enforcement may be limited by bankruptcy, insolvency,
moratorium, reorganization or other laws affecting creditors&rsquo; rights generally; (ii) equitable remedies, including the remedies
of specific performance and injunctive relief, are available only in the discretion of the applicable court; (iii) the equitable
or statutory powers of courts having jurisdiction to stay proceedings before them and the execution of judgments; (iv) rights to
indemnity and contribution hereunder may be limited under applicable law; (v) enforceability of provisions which purport to sever
any provision which is prohibited or unenforceable under applicable law without affecting the enforceability or validity of the
remainder of such document would be determined only in the discretion of the court; and (vi) enforceability of the provisions exculpating
a party from liability or duty otherwise owed by it may be limited under applicable law.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
execution and delivery this Agreement by the Company and the consummation of the transactions contemplated herein will not (A)&nbsp;conflict
with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, or result in the creation
or imposition of any lien, charge or encumbrance upon any property or assets of the Company or the Subsidiaries pursuant to, any
indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company or such Subsidiaries is
a party or by which the Company or such Subsidiaries is bound or to which any of the property or assets of the Company or the Subsidiaries
is subject, (B)&nbsp;result in any violation of the provisions of the charter, articles of incorporation or by-laws of the Company
or the Subsidiaries or (C)&nbsp;result in the violation of any law or statute or any judgment, order, rule or regulation of any
court or arbitrator or governmental agency or regulatory authority, except, in the case of clause (A), any lien, charge, encumbrance,
indenture, mortgage, deed of trust, loan agreement or other agreement or instrument that, would not, individually or in the aggregate,
reasonably be expected to result in a Material Adverse Change and except in the case of (C) above, would not, individually or in
the aggregate, reasonably be expected to result in a Material Adverse Change. No consent, approval, authorization or order of,
or filing with, any court or governmental agency or body is required for the execution, delivery and performance of this Agreement
or for the consummation of the transactions contemplated hereby, including the issuance or sale of the Shares by the Company, except
such as may be required under the Securities Act, the rules of the Financial Industry Regulatory Authority (&ldquo;<B><I>FINRA</I></B>&rdquo;),
the NASDAQ, the TSX or state or provincial securities or blue sky laws; and the Company has full power and authority to enter into
this Agreement and to consummate the transactions contemplated hereby including the authorization, issuance and sale of the Shares
as contemplated by this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(p)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
of the issued and outstanding shares in the capital of the Company, including the outstanding Common Shares, are duly authorized
and validly issued, fully paid and nonassessable, have been issued in compliance with all Canadian and, to the extent applicable,
U.S. securities laws, were not issued in violation of or subject to any preemptive rights or other rights to subscribe for or purchase
securities that have not been waived in writing or duly complied with on behalf of the Company; the Shares sold hereunder by the
Company have been duly authorized and, when issued, delivered and paid for in accordance with the terms of this Agreement, will
have been validly issued and will be fully paid and nonassessable; and the authorized share capital of the Company, including the
Common Shares, conforms to the description thereof in the Registration Statement, the Time of Sale Disclosure Package and the Final
Prospectuses. Except as otherwise described in the Registration Statement, the Time of Sale Disclosure Package and the Final Prospectuses,
there are no preemptive rights or other rights to subscribe for or to purchase, or any restriction upon the voting or transfer
of, any Common Shares pursuant to the Company&rsquo;s charter, articles of incorporation, by-laws or any agreement or other instrument
to which the Company is a party or by which the Company is bound, other than options to purchase Common Shares under the Company&rsquo;s
existing stock option plan, share awards to receive Common Shares under the Company&rsquo;s existing incentive share award plan
and certain issued and outstanding warrants to purchase Common Shares. Except as described in the Registration Statement, in the
Time of Sale Disclosure Package and in the Final Prospectuses, neither the filing of the Registration Statement nor the offering
or sale of the Shares as contemplated by this Agreement gives rise to any rights for or relating to the registration of any Common
Shares or other securities of the Company that have not been fully complied with or previously waived. Except as described in the
Registration Statement, the Time of Sale Disclosure Package and the Final Prospectuses, there are no options, warrants, agreements,
contracts or other rights in existence to purchase or acquire from the Company any shares in the capital of the Company. The Company
has an authorized and outstanding capitalization as set forth in the Registration Statement, the Time of Sale Disclosure Package
and the Final Prospectuses, as of the dates set forth therein. The description of the Company&rsquo;s warrants, stock options,
stock bonus and other stock plans or arrangements, and the options or other rights granted thereunder, set forth in the Time of
Sale Disclosure Package and the Final Prospectuses fairly presents in all material respects the information required to be shown
with respect to such plans, arrangements, warrants, options and rights. Except as set forth in the Time of Sale Disclosure Package,
the Company is not a participant in any joint venture, partnership or similar arrangement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(q)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company holds, and is operating in compliance in all respects with, all franchises, grants, authorizations, licenses, permits,
easements, consents, certificates and orders of the U.S. Food and Drug Administration or any other U.S. or Canadian federal, state,
provincial or foreign governmental authority having authority over the Company (&ldquo;<B><I>Governmental Authority</I></B>&rdquo;)
or self-regulatory body required for the conduct of its business, except where the failure to be in compliance would not individually
or in the aggregate, reasonably be expected to result in a Material Adverse Change, and all such franchises, grants, authorizations,
licenses, permits, easements, consents, certifications and orders are valid and in full force and effect except where the failure
to be valid and in full force would not individually or in the aggregate, reasonably be expected to result in a Material Adverse
Change; and the Company has not received notice of any revocation or modification of any such franchise, grant, authorization,
license, permit, easement, consent, certification or order or has reason to believe that any such franchise, grant, authorization,
license, permit, easement, consent, certification or order will not be renewed in the ordinary course, in each case, except where
such would not individually or in the aggregate, reasonably be expected to result in a Material Adverse Change; and the Company
is in compliance in all material respects with all applicable U.S. and Canadian federal, provincial, state, local and foreign laws,
regulations, orders and decrees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(r)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company has good and marketable title to all property (whether real or personal) described in the Registration Statement, the Time
of Sale Disclosure Package and the Final Prospectuses as being owned by them, in each case free and clear of all liens, claims,
security interests, other encumbrances or defects except as described in the Registration Statement, the Time of Sale Disclosure
Package and the Final Prospectuses, or except those that could not, individually or in the aggregate, reasonably be expected to
result in a Material Adverse Change. The property held under lease by the Company is held by it under valid, subsisting and enforceable
leases with only such exceptions with respect to any particular lease as do not interfere in any material respect with the conduct
of the business of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(s)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company and its Subsidiaries own, possess, license or have other rights to use, on reasonable terms, all patents, patent applications,
trade and service marks, trade and service mark registrations, trade names, copyrights, licenses, inventions, trade secrets, technology,
know-how and other intellectual property (collectively, the &ldquo;<B><I>Intellectual Property</I></B>&rdquo;) necessary for the
conduct of the Company&rsquo;s business as now conducted or as proposed in the Registration Statement, the Time of Sale Disclosure
Package and the Final Prospectuses to be conducted. Except as set forth in the Registration Statement, the Time of Sale Disclosure
Package and the Final Prospectuses (a) to the knowledge of the Company, there are no rights of third parties to any such Intellectual
Property; (b)&nbsp;to the knowledge of the Company, there is no material infringement by third parties of any such Intellectual
Property; (c)&nbsp;there is no pending or, to the knowledge of the Company, threatened action, suit, proceeding or claim by others
challenging the Company&rsquo;s rights in or to any such Intellectual Property, and the Company is unaware of any facts which would
form a reasonable basis for any such claim; (d) there is no pending or, to the knowledge of the Company, threatened action, suit,
proceeding or claim by others challenging the validity or scope of any such Intellectual Property, and the Company is unaware of
any facts which would form a reasonable basis for any such claim; (e) there is no pending or, to the knowledge of the Company,
threatened action, suit, proceeding or claim by others that the Company infringes or otherwise violates any patent, trademark,
copyright, trade secret or other proprietary rights of others, and the Company is unaware of any other fact which would form a
reasonable basis for any such claim; (f)&nbsp; to the knowledge of the Company, there is no U.S. patent or published U.S. patent
application which contains claims that dominate or may dominate any Intellectual Property described in the Registration Statement,
the Time of Sale Disclosure Package or the Final Prospectuses as being owned by or licensed to the Company or that interferes with
the issued or pending claims of any such Intellectual Property; and (g)&nbsp;there is no prior art of which the Company is aware
that may render any U.S. patent held by the Company invalid or any U.S. patent application held by the Company un-patentable which
has not been disclosed to the U.S. Patent and Trademark Office.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(t)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company is not (A)&nbsp;in violation of its articles of incorporation or by-laws; (B)&nbsp;in breach of or otherwise in default,
and no event has occurred which, with notice or lapse of time or both, would constitute such a default in the performance or observance
of any term, covenant, obligation, agreement or condition contained in any bond, debenture, note, indenture, loan agreement, mortgage,
deed of trust or any other contract, lease or other instrument to which it is subject or by which it may be bound, or to which
any of the material property or assets of the Company is subject; or (C)&nbsp;in violation of any law or statute or any judgment,
order, rule or regulation of any court or arbitrator or governmental or regulatory authority, except in the case of (B)&nbsp;and
(C)&nbsp;above, as would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Change.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(u)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company has timely filed all United States federal, Canadian federal, state, provincial, local and foreign income and franchise
tax returns required to be filed and is not in default in the payment of any material taxes which were payable pursuant to said
returns or any assessments with respect thereto, other than any which the Company is contesting in good faith. There is no pending
dispute with any taxing authority relating to any of such returns and the Company has no knowledge of any proposed liability for
any tax to be imposed upon the properties or assets of the Company for which there is not an adequate reserve reflected in the
Company&rsquo;s financial statements included in the Registration Statement, the Time of Sale Disclosure Package and the Final
Prospectuses, except as would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Change.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company has not distributed and will not distribute any prospectus or other offering material in connection with the offering and
sale of the Shares other than the Time of Sale Disclosure Package or the Final Prospectuses or other materials permitted by the
Securities Act to be distributed by the Company; <I>provided, however</I>, that, except as set forth on <U>Schedule&nbsp;II</U>,
the Company has not made and will not make any offer relating to the Shares that would constitute a &ldquo;free writing prospectus&rdquo;
as defined in Rule&nbsp;405 under the Securities Act, except in accordance with the provisions of <U>Section 4(n)</U> of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(w)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Common Shares of the Company are registered pursuant to Section&nbsp;12(g) of the Exchange Act and are listed on the TSX under
the symbol &ldquo;ONC&rdquo;. The Company has taken no action designed to, or likely to have the effect of, terminating the registration
of the Common Shares under the Exchange Act or delisting the Common Shares from the TSX nor has the Company received any written
notice that it is not in compliance with the listing or maintenance requirements of the TSX. The Company believes that it is, and
has no reason to believe that it will not in the foreseeable future continue to be, in material compliance with all such listing
and maintenance requirements. Except as described in the Registration Statement, the Time of Sale Disclosure Package or the Final
Prospectuses, there are no affiliations among the Company&rsquo;s directors and officers and members of the FINRA other than as
disclosed to the FINRA. A registration statement relating to the class of Common Shares on Form 8-A or other applicable form has
become effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company maintains a system of internal accounting controls sufficient to provide reasonable assurances that (A)&nbsp;transactions
are executed in accordance with management&rsquo;s general or specific authorization; (B)&nbsp;transactions are recorded as necessary
to permit preparation of financial statements in conformity with IFRS, and to maintain accountability for assets; (C)&nbsp;access
to assets is permitted only in accordance with management&rsquo;s general or specific authorization; and (D)&nbsp;the recorded
accountability for assets is compared with existing assets at reasonable intervals and appropriate action is taken with respect
to any differences. The Company&rsquo;s internal control over financial reporting is effective and since the end of the Company&rsquo;s
most recent audited fiscal year, there have been no &ldquo;significant deficiencies&rdquo; or &ldquo;material weaknesses&rdquo;
(each as defined by the rules adopted by the Commission) in its internal control over financial reporting (whether or not remediated).
None of the Company, its board of directors or audit committee is aware of any fraud that involves management or other employees
of the Company who have a significant role in the Company&rsquo;s internal controls; and since the end of the latest audited fiscal
year, there has been no change in the Company&rsquo;s internal control over financial reporting (whether or not remediated) that
has materially affected, or is reasonably likely to materially affect, the Company&rsquo;s internal control over financial reporting.
The Company&rsquo;s board of directors has, subject to the exceptions, cure periods and the phase in periods specified in the applicable
stock exchange rules (&ldquo;<B><I>Exchange Rules</I></B>&rdquo;) and corresponding exemptions under National Instrument 52-110
<I>Audit Committees </I>of the Canadian Securities Administrators, validly appointed an audit committee to oversee internal accounting
controls whose composition satisfies the applicable independence and other requirements of the Exchange Rules and Canadian Securities
Laws, and the Company&rsquo;s board of directors and/or the audit committee has adopted a charter that satisfies the requirements
of the Exchange Rules and Canadian Securities Laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(y)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company maintains disclosure controls and procedures as required by Rule 13a-15 or Rule 15d-15 under the Exchange Act and as contemplated
by the certifications required under Form 52-109F1 and Form 52-109F2 under Multilateral Instrument 52-109 - <I>Certification of
Disclosures</I> in Issuer&rsquo;s Annual and Interim Filings; such controls and procedures are effective at the reasonable assurance
level to ensure that all material information concerning the Company and any of its Subsidiaries is made known, on a timely basis,
to the individuals responsible for the preparation of the Company&rsquo;s filings with the Commission and the Qualifying Authorities.
The Company has utilized such controls and procedures in preparing and evaluating the disclosures in the Registration Statement,
the Time of Sale Disclosure Package and the Final Prospectuses. Neither the Company&rsquo;s board of directors nor the audit committee
has been informed, nor is any director of the Company or the Company aware, of any fraud, whether or not material, that involves
management or other employees of the Company who have a significant role in the Company&rsquo;s internal controls.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(z)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
material relationship, direct or indirect, exists between or among the Company, on the one hand, and the directors, officers, stockholders,
customers or suppliers of the Company, on the other hand, which is required to be described in the Registration Statement, the
Time of Sale Disclosure Package and the Final Prospectuses which is not so described. The Company has not, directly or indirectly,
extended or maintained credit, or arranged for the extension of credit, or renewed an extension of credit, in the form of a personal
loan to or for any of its directors or executive officers in violation of applicable laws, including Section&nbsp;402 of the Sarbanes-Oxley
Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(aa)&#9;Except as described
in the Registration Statement, the Time of Sale Disclosure Package and the Final Prospectuses, as applicable, the Company (i) is
and at all times has been in compliance with all statutes, rules and regulations applicable to the ownership, testing, development,
manufacture, packaging, processing, use, distribution, marketing, advertising, labeling, promotion, sale, offer for sale, storage,
import, export or disposal of any product manufactured or distributed by the Company including, without limitation the Federal
Food, Drug and Cosmetic Act (21 U.S.C. &sect;301 et seq.), the federal Anti-Kickback Statute (42 U.S.C. &sect;1320a-7b(b)), the
Health Insurance Portability and Accountability Act of 1996, as amended by the Health Information Technology for Economic and Clinical
Health Act of 2009, and the Patient Protection and Affordable Care Act of 2010, as amended by the Health Care and Education Affordability
Reconciliation Act of 2010, the regulations promulgated pursuant to such laws, and any successor government programs and comparable
state laws, regulations relating to Good Clinical Practices and Good Laboratory Practices and all other local, state, federal,
national, supranational and foreign laws, manual provisions, policies and administrative guidance relating to the regulation of
the Company (collectively, the &ldquo;<B><I>Applicable Laws</I></B>&rdquo;) except as could not, individually or in the aggregate,
reasonably be expected to result in a Material Adverse Change; (ii) has not received any notice from any court or arbitrator or
governmental or regulatory authority or third party alleging or asserting noncompliance with any Applicable Laws or any licenses,
exemptions, certificates, approvals, clearances, authorizations, permits, registrations and supplements or amendments thereto required
by any such Applicable Laws (&ldquo;<B><I>Authorizations</I></B>&rdquo;); (iii) possesses all necessary Authorizations and such
Authorizations are valid and in full force and effect and are not in violation of any term of any such Authorizations except as
would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Change; (iv) has not received
written notice of any claim, action, suit, proceeding, hearing, enforcement, investigation arbitration or other action from any
court or arbitrator or governmental or regulatory authority or third party alleging that any product operation or activity is in
violation of any Applicable Laws or Authorizations nor, to the knowledge of the Company, is any such claim, action, suit, proceeding,
hearing, enforcement, investigation, arbitration or other action threatened; (v) has received any written notice that any court
or arbitrator or governmental or regulatory authority has taken, is taking or intends to take, action to limit, suspend, materially
modify or revoke any Authorizations nor is any such limitation, suspension, modification or revocation threatened; (vi) has filed,
obtained, maintained or submitted all material reports, documents, forms, notices, applications, records, claims, submissions and
supplements or amendments as required by any Applicable Laws or Authorizations and that all such reports, documents, forms, notices,
applications, records, claims, submissions and supplements or amendments were complete and accurate on the date filed (or were
corrected or supplemented by a subsequent submission) except as would not, individually or in the aggregate, reasonably be expected
to result in a Material Adverse Change; and (vii) is not a party to any corporate integrity agreements, monitoring agreements,
consent decrees, settlement orders, or similar agreements with or imposed by any governmental or regulatory authority.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(bb)&#9;To the Company&rsquo;s
knowledge, the clinical and pre-clinical trials conducted by or on behalf of or sponsored by the Company, or in which the Company
has participated, that are described in the Registration Statement, the Time of Sale Disclosure Package and the Final Prospectuses
or the results of which are referred to in the Registration Statement, the Time of Sale Disclosure Package or the Final Prospectuses,
as applicable, and are intended to be submitted to Regulatory Authorities as a basis for product approval, were and, if still pending,
are being conducted in accordance with standard medical and scientific research procedures and all applicable statutes, rules and
regulations of the United Stated Food and Drug Administration and comparable drug regulatory agencies outside of the United States
to which it is subject (collectively, the &ldquo;<B><I>Regulatory Authorities</I></B>&rdquo;), including, without limitation, 21
C.F.R. Parts 50, 54, 56, 58, and 312, and current Good Clinical Practices and Good Laboratory Practices; the descriptions in the
Registration Statement, the Time of Sale Disclosure Package and the Final Prospectuses of the results of such studies and trials
are accurate and complete in all material respects and fairly present the data derived from such trials; the Company has no knowledge
of any other trials the results of which are materially inconsistent with or otherwise materially call into question the results
described or referred to in the Registration Statement, the Time of Sale Disclosure Package or the Final Prospectuses; the Company
has operated and is currently in compliance with all applicable statutes, rules and regulations of the Regulatory Authorities except
as would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Change; the Company has
not received any written notices, correspondence or other communication from the Regulatory Authorities or any Governmental Authority
which could lead to the termination or suspension of any clinical or pre-clinical trials that are described in the Registration
Statement, the Time of Sale Disclosure Package or the Final Prospectuses or the results of which are referred to in the Registration
Statement, the Time of Sale Disclosure Package or the Final Prospectuses, and there are no reasonable grounds for same.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(cc)&#9;The Company (A)&nbsp;is
in compliance with any and all applicable United States and Canadian federal, state, provincial, local and foreign laws, rules,
regulations, decisions and orders relating to the protection of human health and safety, the environment or hazardous or toxic
substances or wastes, pollutants or contaminants (collectively, &ldquo;<B><I>Environmental Laws</I></B>&rdquo;) except as would
not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Change; (B)&nbsp;has received and
is in material compliance with all permits, licenses or other approvals required of it under applicable Environmental Laws to conduct
its business, except as would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Change;
and (C)&nbsp;has not received notice of any actual or potential liability for the investigation or remediation of any disposal
or release of hazardous or toxic substances or wastes, pollutants or contaminants.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(dd)&#9;The documents
filed as exhibits to the Registration Statement or otherwise incorporated by reference in the Time of Sale Disclosure Package and
in the Final Prospectuses, when they became effective or were filed with the Commission or the Qualifying Authorities, as the case
may be, conformed in all material respects to all applicable requirements of the Securities Act or the Exchange Act and all applicable
requirements of Canadian Securities Laws, as the case may be, and were filed on a timely basis with the Commission and with the
Qualifying Authorities, as the case may be, and none of such documents contained an untrue statement of a material fact or omitted
to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made,
not misleading; any further documents so filed and incorporated by reference in the Time of Sale Disclosure Package or in the Final
Prospectuses, when such documents are filed with the Commission or the Qualifying Authorities, as the case may be, will conform
in all material respects to all applicable requirements of the Securities Act or the Exchange Act and all applicable requirements
of Canadian Securities Laws, as the case may be, and will not contain an untrue statement of a material fact or omit to state a
material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">Each document filed
or to be filed with the Qualifying Authorities and incorporated or deemed to be incorporated by reference in the Canadian Base
Prospectus, the Canadian Preliminary Prospectus and the Canadian Final Prospectus complied or will comply when so filed and at
the First Closing Date and the Second Closing Date, as the case may be, in all material respects with Canadian Securities Laws,
and did not or will not contain a misrepresentation as defined under Canadian Securities Laws, and none of such documents contained
or will contain at the time of its filing and at the First Closing Date and the Second Closing Date, as the case may be, any untrue
statement of a material fact or omitted or will omit to state a material fact required to be stated therein or necessary to make
the statements therein, in the light of the circumstances under which they were or are made, not misleading. The Company has not
filed any confidential material change reports which remain confidential as at the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(ee)&#9;The Company (A)&nbsp;is
in compliance, in all respects, with any and all applicable United States and Canadian federal, state, provincial, local and foreign
laws, rules, regulations, treaties, statutes and codes promulgated by any and all governmental authorities (including pursuant
to the Occupational Health and Safety Act, if applicable) relating to the protection of human health and safety in the workplace
(&ldquo;<B><I>Occupational Laws</I></B>&rdquo;) except as would not, individually or in the aggregate, reasonably be expected to
result in a Material Adverse Change; and (B)&nbsp;has received all permits, licenses or other approvals required of it under applicable
Occupational Laws to conduct its business as currently conducted and is in compliance, in all respects, with all terms and conditions
of such permits, licenses and approvals. No action, proceeding, revocation proceeding, writ, injunction or claim is pending or,
to the knowledge of the Company, threatened against the Company relating to Occupational Laws, and the Company does not have knowledge
of any facts, circumstances or developments relating to its operations or cost accounting practices that could reasonably be expected
to form the basis for or give rise to such actions, suits, investigations or proceedings. Each employee benefit plan, within the
meaning of Section&nbsp;3(3) of the Employee Retirement Income Security Act of 1974, as amended (&ldquo;<B><I>ERISA</I></B>&rdquo;),
that is maintained, administered or contributed to by the Company, or any of its affiliates for employees or former employees of
the Company and has been maintained in material compliance with its terms and the requirements of any applicable statutes, orders,
rules and regulations, including but not limited to, ERISA and the Internal Revenue Code of 1986, as amended (the &ldquo;<B><I>Code</I></B>&rdquo;).
No prohibited transaction, within the meaning of Section&nbsp;406 of ERISA or Section&nbsp;4975 of the Code, has occurred with
respect to any such plan excluding transactions effected pursuant to a statutory or administrative exemption; and for each such
plan that is subject to the funding rules of Section&nbsp;412 of the Code or Section&nbsp;302 of ERISA, no &ldquo;accumulated funding
deficiency&rdquo; as defined in Section&nbsp;412 of the Code has been incurred, whether or not waived, and the fair market value
of the assets of each such plan (excluding for these purposes accrued but unpaid contributions) exceeds the present value of all
benefits accrued under such plan determined using reasonable actuarial assumptions.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(ff)&#9;Except as set
forth in the Registration Statement, the Time of Sale Disclosure Package and the Final Prospectuses, the Company has not granted
rights to develop, manufacture, produce, assemble, distribute, license, market or sell its products to any other person and is
not bound by any agreement that affects the Company&rsquo;s exclusive right to develop, manufacture, produce, assemble, distribute,
license, market or sell its products.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(gg)&#9;Nothing has come
to the attention of the Company that has caused the Company to believe that the statistical and market-related data included in
the Registration Statement, the Time of Sale Disclosure Package and the Final Prospectuses is not based on or derived from sources
that are reliable and accurate in all material respects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(hh)&#9;Other than as
contemplated by this Agreement, the Company has not incurred any liability for any finder&rsquo;s or broker&rsquo;s fee or agent&rsquo;s
commission in connection with the execution and delivery of this Agreement or the consummation of the transactions contemplated
hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the knowledge of the Company, none of the directors or executive officers of the Company are now, or have ever been, subject to
any penalties or sanctions imposed by a court relating to securities legislation or by a securities regulatory authority, or have
entered into a settlement agreement with a securities regulatory authority. Neither the Commission, the Reviewing Authority, any
other securities regulatory authority, any stock exchange nor any similar regulatory authority has issued any order which is currently
outstanding preventing or suspending trading in any securities of the Company or the use of the Final Prospectuses and no proceedings
for such purposes have been instituted or are pending or, to the knowledge of the Company, are contemplated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(jj)&#9;The Company carries,
or is covered by, insurance in such amounts and covering such risks as is adequate for the conduct of its business and the value
of its properties and as is customary for companies engaged in similar businesses in similar industries; and the Company (A)&nbsp;has
not received written notice from any insurer or agent of such insurer that capital improvements or other expenditures are required
or necessary to be made in order to continue such insurance or (B)&nbsp;has no reason to believe that it will not be able to renew
its existing insurance coverage as and when such coverage expires or to obtain similar coverage at reasonable cost from similar
insurers as may be necessary to continue its business. All such insurance is outstanding and duly in force on the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(kk)&#9;No labor problem
or dispute with the employees of the Company exists nor, to the best knowledge of the Company, is threatened or imminent except
as would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Change.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(ll)&#9;Neither the Company,
nor, to the best knowledge of the Company, any director, officer, agent, employee, consultant or other person associated with or
acting on behalf of the Company has (A)&nbsp;used any corporate funds for any unlawful contribution, gift, entertainment or other
unlawful expense relating to political activity; (B)&nbsp;made any direct or indirect unlawful payment to any foreign or domestic
government official or employee from corporate funds; (C)&nbsp;violated or is in violation of any provision of the Canadian Corruption
of Foreign Public Officials Act or the U.S. Foreign Corrupt Practices Act of 1977; or (D)&nbsp;made any bribe, rebate, payoff,
influence payment, kickback or other unlawful payment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(mm)&#9;The Company is
not and, after giving effect to the offering, the sale of the Shares and the intended use of proceeds of the offering, will not
be registered or required to register as an &ldquo;investment company,&rdquo; as such term is defined in the Investment Company
Act of 1940, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(nn)&#9;Except as described
in the Final Prospectuses or otherwise obtained by the Company, no approval of the shareholders of the Company is required for
the Company to issue and deliver to the Underwriters the Shares, including such as may be required pursuant to the rules and regulations
of any trading market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(oo)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company is in compliance in all material respects with all applicable provisions of the Sarbanes-Oxley Act and the rules and regulations
of the Commission thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(pp)&#9;The Company and
its board of directors have taken all necessary action, if any, in order to render inapplicable any control share acquisition,
business combination, poison pill (including any distribution under a rights agreement) or other similar anti-takeover provision
under the Company's articles of incorporation or by-laws, the <I>Business Corporations Act</I> (Alberta) or other applicable Canadian
laws that is or could reasonably be expected to become applicable to the Underwriters as a result of the Underwriter and the Company
fulfilling their obligations or exercising their rights under this Agreement, including, without limitation, the Company's issuance
of the Shares and the Underwriter&rsquo;s ownership of the Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Purchase,
Sale and Delivery of Shares</I></B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
the basis of the representations, warranties and agreements herein contained, but subject to the terms and conditions herein set
forth, the Company agrees to issue and sell the Firm Shares to the Underwriters, and each Underwriter agrees, severally and not
jointly, to purchase from the Company the number of Firm Shares set opposite the name of such Underwriter in <U>Schedule I</U>
hereto. The purchase price for each Firm Shares shall be US$5.4219 per Share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Firm Shares will
be delivered by the Company to the Representative for the account of the Underwriters against payment of the purchase price therefor
by wire transfer of same day funds payable to the order of the Company at the offices of Goodwin Procter LLP, The New York Times
Building, 620 Eighth Avenue, New York, New York, or such other location as may be mutually acceptable, at 8:30&nbsp;a.m. Eastern
time on the second (or if the Shares are priced, as contemplated by Rule&nbsp;15c6-1(c) under the Exchange Act, after 4:30 p.m.
Eastern time, the third) full business day following the date hereof, or at such other time and date as the Representative and
the Company determine pursuant to Rule&nbsp;15c6-1(a) under the Exchange Act, such time and date of delivery being herein referred
to as the &ldquo;<B><I>First Closing Date</I></B>.&rdquo; If the Representative so elects, delivery of the Firm Shares may be made
by credit through Deposit/Withdrawal At Custodian (&ldquo;<B><I>DWAC</I></B>&rdquo;) to the accounts at The Depository Trust Company
designated by the Representative. For the purposes hereof, a &ldquo;business day&rdquo; shall mean any day other than a Saturday,
Sunday or statutory or civic holiday or any other day on which banks are not open for in-person business in the City of New York,
New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
the basis of the representations, warranties and agreements herein contained, but subject to the terms and conditions herein set
forth, the Company hereby grants to the Underwriters an option to purchase all or any portion of the Option Shares to be sold by
the Company hereunder, at the same purchase price as the Firm Shares. The option granted hereunder may be exercised in whole or
in part at any time and from time to time within 30 days after the effective date of this Agreement upon notice (confirmed in writing)
by the Representative to the Company setting forth the aggregate number of Option Shares as to which the Underwriters are exercising
the option, the names and denominations in which the certificates for the Option Shares are to be registered and the date and time,
as determined by the Representative, when the Option Shares are to be delivered, such time and date being herein referred to as
the &ldquo;<B><I>Second Closing</I></B>&rdquo; and &ldquo;<B><I>Second Closing Date</I></B><I>,</I>&rdquo; respectively; provided,
however, that the Second Closing Date shall not be earlier than the First Closing Date nor earlier than the second business day
after the date on which the option shall have been exercised. No Option Shares shall be sold and delivered unless the Firm Shares
previously have been, or simultaneously are, sold and delivered.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Option Shares will
be delivered by the Company to the Representative for the account of the Underwriters against payment of the purchase price therefor
by wire transfer of same day funds payable to the order of the Company at the offices of Goodwin Procter LLP, The New York Times
Building, 620 Eighth Avenue, New York, New York, or such other location as may be mutually acceptable, at 8:30&nbsp;a.m. Eastern
time, on the Second Closing Date. If the Representative so elects, delivery of the Option Shares may be made by credit through
DWAC to the accounts at The Depository Trust Company designated by the Representative.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Covenants</I></B>.
The Company covenants and agrees with the Underwriters as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
the period beginning on the date hereof and ending on the later of the Second Closing Date and such date, as in the opinion of
counsel for the Underwriters, the U.S. Final Prospectus is no longer required by law to be delivered (assuming the absence of Rule
172 under the Securities Act), in connection with sales by the Underwriters, prior to amending or supplementing the Registration
Statement or the Final Prospectuses, the Company shall furnish to the Underwriters for review a copy of each such proposed amendment
or supplement, and the Company shall not file any such proposed amendment or supplement to which the Underwriters or counsel to
the Underwriters reasonably object. Subject to this <U>Section&nbsp;4(a)</U>, immediately following execution of this Agreement,
the Company will prepare the Canadian Final Prospectus Supplement in accordance with the Canadian Shelf Procedures and the U.S.
Final Prospectus Supplement, consisting of the Canadian Final Prospectus Supplement with such deletions therefrom and additions
thereto as are permitted or required by Form F-10 and the applicable rules and regulations of the Commission, in each case in a
form reasonably approved by the Representative, and will file (i) the Canadian Final Prospectus Supplement with the Reviewing Authority
pursuant to the Canadian Shelf Procedures as soon as possible but not later than 8:00 p.m. (Alberta time) on June 1, 2018, and
(ii) the U.S. Final Prospectus Supplement with the Commission pursuant to General Instruction II.L of Form F-10 as soon as possible
and in any event within one business day of the filing of the Canadian Final Prospectus Supplement with the Reviewing Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company will advise the Representative, promptly after the Company shall receive written notice of the issuance by the Commission
or any of the Qualifying Authorities of any stop order or cease trade order suspending the effectiveness of the Registration Statement,
or any post-effective amendment thereto, or preventing or suspending the use of any Preliminary Prospectus, the Time of Sale Disclosure
Package, the Final Prospectuses or any Issuer Free Writing Prospectus, of the suspension of the qualification of the Shares for
offering or sale in any jurisdiction, or of the initiation or threatening of any proceeding for any such purpose; and the Company
will promptly use its commercially reasonable efforts to prevent the issuance of any stop order or cease trade order or to obtain
its withdrawal if such a stop order or cease trade order should be issued. Additionally, the Company will notify the Representative
promptly, and confirm the notice as applicable, (1) when the Canadian Final Prospectus Supplement shall have been filed with the
Reviewing Authority pursuant to the Canadian Shelf Procedures, (2) when the U.S. Final Prospectus Supplement shall have been filed
with the Commission pursuant to General Instruction II.L of Form F-10, (3) prior to the termination of the offering of the Shares,
of any request by the Qualifying Authorities to amend or supplement, as applicable, the Canadian Base Prospectus, the Canadian
Final Prospectus or any document incorporated by reference therein or for additional information or of any request by the Commission
to amend the Registration Statement or to amend or supplement, as applicable, the U.S. Base Prospectus, the U.S. Final Prospectus
or any document incorporated by reference therein or for additional information, and (4) of the time when, prior to the termination
of the offering of the Shares, any amendment or supplement, as applicable, to the Canadian Base Prospectus or any document incorporated
by reference therein has been filed with or receipted by the Reviewing Authority, or of the filing with, or mailing or the delivery
to, the Commission for filing of any amendment of the Registration Statement or supplement to the U.S. Base Prospectus.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If,
at any time following issuance of an Issuer Free Writing Prospectus, there occurred or occurs an event or development as a result
of which such Issuer Free Writing Prospectus conflicted or would conflict with the information contained in the Registration Statement,
any Statutory Prospectus or the Final Prospectuses relating to the Shares or included or would include an untrue statement of a
material fact or omitted or would omit to state a material fact necessary in order to make the statements therein, in the light
of the circumstances prevailing at that subsequent time, not misleading, the Company promptly will notify the Representative and
will promptly amend or supplement, at the Company&rsquo;s own expense, such Issuer Free Writing Prospectus to eliminate or correct
such conflict, untrue statement or omission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company shall take or cause to be taken all necessary action to qualify the Shares for sale under the securities laws of all applicable
jurisdictions and to continue such qualifications in effect so long as required for the distribution of the Shares, except that
the Company shall not be required in connection therewith to qualify as a foreign corporation or to execute a general consent to
service of process in any state.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company will furnish or make available to the Underwriters, at the Company&rsquo;s expense, copies of the Registration Statement
(which will include a conformed signed copy of the Registration Statement and all consents and exhibits filed therewith upon reasonable
request), and to the Underwriters and any dealer each Preliminary Prospectus, the Time of Sale Disclosure Package, the Final Prospectuses,
the Issuer Free Writing Prospectus, and all amendments and supplements to such documents, in each case as soon as available and
in such quantities as the Underwriters may from time to time reasonably request. Notwithstanding the foregoing, the Company shall
forthwith cause to be delivered to the Underwriters in such cities in the Qualifying Jurisdictions and the United States as it
may reasonably request, without charge, such numbers of commercial copies of the Final Prospectuses, excluding in each case any
documents incorporated by reference other than any marketing materials, as applicable, as the Underwriters shall reasonably require,
which deliveries shall be effected as soon as possible and, in any event, in New York not later than 12:00 p.m. local time on June
4, 2018, and in all other cities by 12:00 noon local time on the next business day, provided that the Underwriters have given the
Company written instructions as to the number of copies required and the places to which such copies are to be delivered not less
than 24 hours prior to the time requested for delivery. Such delivery shall also confirm that the Company consents to the use by
the Underwriters and any dealer of the Final Prospectuses in connection with the offering of the Shares in compliance with the
provisions of this Agreement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company, whether or not the transactions contemplated hereunder are consummated or this Agreement is prevented from becoming effective
under the provisions of <U>Section&nbsp;8(a)</U> hereof or is otherwise terminated, will pay or cause to be paid (A)&nbsp;all expenses
(including transfer taxes allocated to the respective transferees) incurred in connection with the delivery to the Underwriters
of the Shares, (B)&nbsp;all expenses and fees (including, without limitation, fees and expenses of the Company&rsquo;s accountants
and counsel) in connection with the preparation, printing, filing, delivery, and shipping of the Registration Statement (including
the financial statements therein and all amendments, schedules, and exhibits thereto), the Shares, each Preliminary Prospectus,
the Time of Sale Disclosure Package, the Final Prospectuses, any Issuer Free Writing Prospectus and any amendment thereof or supplement
thereto, and the printing, delivery, and shipping of this Agreement and other underwriting documents, including Blue Sky Memoranda
(covering the states and other applicable jurisdictions), (C)&nbsp;all reasonable and documented filing fees and reasonable fees
and disbursements of the Underwriters&rsquo; counsel incurred in connection with the qualification of the Shares for offering and
sale by the Underwriters or by dealers under the securities or blue sky laws of the states and other jurisdictions which the Underwriters
shall designate, (D)&nbsp;the fees and expenses of any transfer agent or registrar, (E)&nbsp;the reasonable and documented filing
fees and fees and disbursements of Underwriters&rsquo; counsel incident to any required review and approval by FINRA of the terms
of the sale of the Shares, (F)&nbsp;listing fees, if any, (G)&nbsp;the costs and expenses of the Company relating to investor presentations
or any &ldquo;roadshow&rdquo; undertaken in connection with the marketing of the Shares, and (H)&nbsp;all other costs and expenses
of the Company incident to the performance of its obligations hereunder that are not otherwise specifically provided for herein.
For greater certainty, the amount of fees and expenses that the Company shall reimburse to the Underwriters (for themselves and
for their representatives, including legal counsel) for all items listed above (inclusive of taxes) shall not exceed $150,000 in
the aggregate. Except as provided in this <U>Section 4(f)</U>, the Underwriters shall pay their own expenses, including the fees
and disbursements of their counsel. If this Agreement is terminated pursuant to <U>Section&nbsp;8(a)</U> hereof or if the sale
of the Shares provided for herein is not consummated by reason of action by the Company pursuant to <U>Section&nbsp;9</U> hereof
which prevents this Agreement from becoming effective, or by reason of any failure, refusal or inability on the part of the Company
to perform any agreement on its part to be performed, or because any other condition of the Underwriters&rsquo; obligations hereunder
required to be fulfilled by the Company is not fulfilled, the Company will reimburse the Underwriters for all reasonable and documented
out-of-pocket disbursements (including reasonable fees and disbursements of counsel, printing expenses, travel expenses, postage,
facsimile and telephone charges) incurred by the Underwriters in connection with its investigation, preparing to market and marketing
the Shares or in contemplation of performing its obligations hereunder. The Company shall not in any event be liable to the Underwriters
for loss of any anticipated profits from the transactions contemplated by this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company intends to apply the net proceeds from the sale of the Shares to be sold by it hereunder for the purposes set forth in
the Time of Sale Disclosure Package and in the Final Prospectuses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company will not, without the prior written consent of the Representative, from the date of execution of this Agreement and continuing
to and including the date 90 days after the date of the Final Prospectuses (the &ldquo;<B><I>Lock-Up Period</I></B>&rdquo;), (A)&nbsp;offer,
pledge, announce the intention to sell, sell, contract to sell, sell any option or contract to purchase, purchase any option or
contract to sell, grant any option, right or warrant to purchase or otherwise transfer or dispose of, directly or indirectly, any
Common Shares or any securities convertible into or exercisable or exchangeable for Common Shares or (B)&nbsp;enter into any swap
or other agreement that transfers, in whole or in part, any of the economic consequences of ownership of the Common Shares, whether
any such transaction described in clause (A)&nbsp;or (B)&nbsp;above is to be settled by delivery of Common Shares or such other
securities, in cash or otherwise, except for (1)&nbsp;sales of the Shares to the Underwriters pursuant to this Agreement, (2)&nbsp;grants
of options or share awards to receive Common Shares under the Company&rsquo;s existing incentive share award plan or the issuance
of Common Shares by the Company pursuant to equity incentive plans and incentive share award plans described in the Time of Sale
Disclosure Package, or (3) issuance of shares upon exercise or conversion of securities outstanding as of the date hereof. The
Company agrees not to accelerate the vesting of any option or warrant or the lapse of any repurchase right prior to the expiration
of the Lock-Up Period, except immediately prior to the closing of a transaction that would involve the sale of all the Common Shares
of the Company to a third party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company has caused to be delivered to the Representative prior to the date of this Agreement a letter, in the form of <U>Exhibit&nbsp;A</U>
hereto (the &ldquo;<B><I>Lock-Up Agreement</I></B>&rdquo;), from each of the Company&rsquo;s directors and officers identified
on <U>Schedule&nbsp;IV</U>. If requested by the Representative, the Company will issue stop-transfer instructions to the transfer
agent for the Common Shares with respect to any transaction or contemplated transaction that would constitute a breach of or default
under the applicable Lock-Up Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other
than in connection with any road show or other marketing of the offering of Shares, the Company has not taken and will not take,
directly or indirectly, any action designed to or which might reasonably be expected to cause or result in, or which has constituted,
the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Shares, and
has not effected any sales of Common Shares which would be required to be disclosed in response to Item&nbsp;701 of Regulation&nbsp;S-K
under the Securities Act if applicable to the Company which have not been so disclosed in the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other
than as contemplated by this Agreement, the Company will not incur any liability for any finder&rsquo;s or broker&rsquo;s fee or
agent&rsquo;s commission in connection with the execution and delivery of this Agreement or the consummation of the transactions
contemplated hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company represents and agrees that, unless it obtains or obtained the prior written consent of the Representative, it has not made
and will not make any offer relating to the Shares that would constitute an &ldquo;issuer free writing prospectus,&rdquo; as defined
in Rule&nbsp;433 under the Securities Act, or that would otherwise constitute a &ldquo;free writing prospectus,&rdquo; as defined
in Rule&nbsp;405 under the Securities Act, required to be filed with the Commission; provided that the prior written consent of
the parties hereto shall be deemed to have been given in respect of the free writing prospectuses included in <U>Schedule&nbsp;II</U>.
Any such free writing prospectus consented to by the Company and the Representative is hereinafter referred to as a &ldquo;<B><I>Permitted
Free Writing Prospectus</I></B>.&rdquo; The Company represents that it has treated or agrees that it will treat each Permitted
Free Writing Prospectus as an &ldquo;issuer free writing prospectus,&rdquo; as defined in Rule&nbsp;433, and has complied and will
comply with the requirements of Rule&nbsp;433 applicable to any Permitted Free Writing Prospectus, including timely Commission
filing where required, legending and record keeping. Each Underwriter represents and agrees that, unless it obtains or obtained
the prior written consent of the Company, it has not made and will not make any offer relating to the Shares that would constitute
an &ldquo;issuer free writing prospectus,&rdquo; as defined in Rule&nbsp;433 under the Securities Act, or that would otherwise
constitute a &ldquo;free writing prospectus,&rdquo; as defined in Rule&nbsp;405 under the Securities Act, required to be filed
with the Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company shall use its reasonable best efforts to list for trading, subject only to customary post-closing document delivery requirements,
the Shares on the NASDAQ.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Conditions
of Underwriters&rsquo; Obligations</I></B>. The obligations of the Underwriters hereunder are subject to the accuracy, as of the
date hereof and at each of the First Closing Date and the Second Closing Date (as if made at such closing date), of and compliance
with all representations, warranties and agreements of the Company contained herein, to the performance by the Company of its obligations
hereunder and to the following additional conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company is relying upon the rules and procedures established pursuant to the Canadian Shelf Procedures. The Canadian Preliminary
Base Prospectus and the Canadian Base Prospectus have been filed with the Qualifying Authorities and a Passport Decision Document
has been issued relating to the Canadian Preliminary Base Prospectus and the Canadian Base Prospectus, respectively, and has not
been revoked. The Canadian Final Prospectus Supplement shall have been filed with the Reviewing Authority within the applicable
time period prescribed hereby and in accordance with the Canadian Shelf Procedures; all other steps or proceedings shall have been
taken that may be necessary in order to qualify the Shares for distribution in accordance with the terms of this Agreement; and
no order suspending the distribution of the Shares shall have been issued by any of the Qualifying Authorities and no proceedings
for that purpose shall have been instituted or threatened, and any request on the part of any Qualifying Authority for additional
information shall have been complied with to the reasonable satisfaction of counsel to the Underwriters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company shall have filed the U.S. Final Prospectus, or any amendment or supplement thereto, or any Issuer Free Writing Prospectus
required to be filed under the Securities Act or the Rules and Regulations with the Commission in accordance with General Instruction
II.L of Form F-10 or as otherwise required and within the time period so required; the Registration Statement shall remain effective;
no stop order suspending the effectiveness of the Registration Statement or any part thereof or any amendment thereof, nor suspending
or preventing the use of the Time of Sale Disclosure Package, the U.S. Final Prospectus or any Issuer Free Writing Prospectus shall
have been issued; no proceedings for the issuance of such an order shall have been initiated or threatened; and any request of
the Commission for additional information (to be included in the Registration Statement, the Time of Sale Disclosure Package, the
U.S. Final Prospectus, any Issuer Free Writing Prospectus or otherwise) shall have been complied with to the satisfaction of the
Underwriters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Underwriters shall not have reasonably determined and advised the Company that (i)&nbsp;the Registration Statement or any amendment
thereof or supplement thereto, or the Canadian Final Prospectus, contains an untrue statement of a material fact which, in the
opinion of counsel to the Underwriters, is material or omits to state a material fact which, in the opinion of counsel to the Underwriters,
is required to be stated therein or necessary to make the statements therein not misleading, or (ii)&nbsp;the Time of Sale Disclosure
Package or the Final Prospectuses, or any amendment thereof or supplement thereto, or any Issuer Free Writing Prospectus contains
an untrue statement of fact which, in the opinion of counsel to the Underwriters, is material, or omits to state a fact which,
in the opinion of counsel to the Underwriters, is material and is required to be stated therein, or necessary to make the statements
therein, in the light of the circumstances under which they are made, not misleading.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as contemplated in the Time of Sale Disclosure Package and in the Final Prospectuses, subsequent to the respective dates as of
which information is given in the Time of Sale Disclosure Package, the Company shall not have incurred any material liabilities
or obligations, direct or contingent, or entered into any material transactions, or declared or paid any dividends or made any
distribution of any kind with respect to its capital stock; and there shall not have been any change in the capital stock (other
than a change in the number of outstanding Common Shares due to the issuance of shares upon the exercise of outstanding options,
share awards or warrants), or any material change in the short-term or long-term debt of the Company, or any issuance of options,
warrants, convertible securities or other rights to purchase the capital stock of the Company, or any Material Adverse Change or
any development that would reasonably be expected to result in a Material Adverse Change (whether or not arising in the ordinary
course of business), that, in the judgment of the Representative, makes it impractical or inadvisable to offer or deliver the Shares
on the terms and in the manner contemplated in the Time of Sale Disclosure Package and in the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
the First Closing Date and the Second Closing Date, as the case may be, there shall have been furnished to the Underwriters, the
corporate and Canadian securities law opinion of McCarthy Tetrault LLP, Canadian counsel for the Company, dated such closing date
and addressed to the Representative, in form and substance reasonably satisfactory to the Representative.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
the First Closing Date and the Second Closing Date, as the case may be, there shall have been furnished to the Underwriters, the
opinion and negative assurance letter of Dorsey &amp; Whitney LLP, U.S. counsel for the Company, dated such closing date and addressed
to the Representative, in form and substance reasonably satisfactory to the Representative.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
the First Closing Date and the Second Closing Date, as the case may be, there shall have been furnished to the Underwriters, the
opinion of Kilpatrick Townsend &amp; Stockton LLP, intellectual property counsel for the Company, dated such closing date and addressed
to the Representative, in form and substance reasonably satisfactory to the Representative.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
the First Closing Date and the Second Closing Date, as the case may be, there shall have been furnished to the Underwriters, the
opinion and negative assurance letter of Goodwin Procter LLP, counsel for the Underwriters, dated such closing date and addressed
to the Representative, in form and substance reasonably satisfactory to the Representative.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
the First Closing Date and the Second Closing Date, as the case may be, if so requested by the Representative, there shall have
been furnished to the Underwriters, the opinion of Osler, Hoskin &amp; Harcourt LLP, counsel for the Underwriters, dated such closing
date and addressed to the Representative, in form and substance reasonably satisfactory to the Representative.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
the date of this Agreement and the First Closing Date and the Second Closing Date, as the case may be, the Representative shall
have received a letter of Ernst &amp; Young LLP, dated such date and addressed to the Representative, confirming that they are
independent public accountants within the meaning of the Securities Act, are in compliance with the applicable requirements relating
to the qualifications of accountants under Rule&nbsp;2-01 of Regulation S-X of the Commission, are in good standing with the Canadian
Public Accountability Board and stating, as of the date of such letter (or, with respect to matters involving changes or developments
since the respective dates as of which specified financial information is given in the Time of Sale Disclosure Package, as of a
date not prior to the date hereof or more than five days prior to the date of such letter), the conclusions and findings of said
firm with respect to the financial information and other matters covered by its letter delivered to the Representative concurrently
with the execution of this Agreement, and the effect of the letter so to be delivered on the First Closing Date and the Second
Closing Date, as the case may be, shall be to confirm the conclusions and findings set forth in such prior letter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
the First Closing Date and the Second Closing Date, as the case may be, there shall have been furnished to the Underwriters, a
certificate, dated the Closing Date and addressed to the Representative, signed by the chief executive officer and by the chief
financial officer of the Company (or any other officer of the Company acceptable to the Representative, acting reasonably), to
the effect that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">The
representations and warranties of the Company in this Agreement are true and correct, as if made at and as of such closing date,
and the Company has complied with all the agreements and satisfied all the conditions on its part to be performed or satisfied
at or prior to such closing date; </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">No
stop order, cease trade order or other order suspending the effectiveness of the Registration Statement or any part thereof or
any amendment thereof or the qualification of the Shares for offering or sale under Canadian Securities Laws, nor suspending or
preventing the use of the Time of Sale Disclosure Package, the Final Prospectuses or any Issuer Free Writing Prospectus, has been
issued, and no proceeding for that purpose has been instituted or, to their knowledge, is contemplated or threatened by the Commission,
any Qualifying Authority or any state, provincial or regulatory body; and </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">There
has been no Material Adverse Change.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(l)&#9;The Underwriters
shall have received all the Lock-Up Agreements referenced in <U>Section&nbsp;4(i)</U>. &#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At
the First Closing Date, the Shares shall have been duly approved for listing on the NASDAQ and the TSX, and the TSX shall have
approved the issuance and additional listing of the Shares (subject only to customary post-closing document delivery requirements).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(n)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Underwriters shall have received on the First Closing Date and the Second Closing Date, as the case may be, a certificate of the
chief financial officer of the Company with respect to certain financial information set forth in the Time of Sale Disclosure Package
and the Final Prospectuses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Underwriters shall have received on the First Closing Date and the Second Closing Date, as the case may be, a certificate of the
secretary of the Company (or any other officer of the Company acceptable to the Representative, acting reasonably).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(p)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FINRA
shall have confirmed that it has not raised any objection with respect to the fairness and reasonableness of the underwriting terms
and conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Prior to the First Closing
Date and the Second Closing Date, if applicable, the Underwriters shall have received such further certificates and documentation
from the Company as may be contemplated herein as the Representative or counsel to the Underwriters may reasonably request; provided,
however, that the Representative or counsel to the Underwriters shall request any such certificates or other documents within a
reasonable period prior to the First Closing Date and the Second Closing Date, if applicable, that is sufficient for the Company
to obtain and deliver such certificates or documents, and in any event, at least two (2) business days prior to the First Closing
Date or Second Closing Date, as applicable. The Company will furnish the Underwriters with such conformed copies of such opinions,
certificates, letters and other documents as the Underwriters shall reasonably request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Indemnification
and Contribution.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company agrees to indemnify and hold harmless the Underwriters, their respective affiliates, directors, officers, employees and
agents and each person, if any, who controls any Underwriter within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20
of the Exchange Act, from and against any losses, claims, damages, expenses or liabilities, joint or several, to which the Underwriters
may become subject, under the Securities Act, Canadian Securities Laws or otherwise (including in settlement of any litigation
if such settlement is effected with the written consent of the Company), as incurred, insofar as such losses, claims, damages,
expenses or liabilities (or actions in respect thereof) arise out of or are based upon (i) an untrue statement or alleged untrue
statement of a material fact contained in the Registration Statement (or any amendment thereto), including any information deemed
to be a part of the Registration Statement at the time of effectiveness and at any subsequent time pursuant to the Rules and Regulations,
if applicable, any Preliminary Prospectuses, the Time of Sale Disclosure Package, the Final Prospectuses, or any amendment or supplement
thereto, any Issuer Free Writing Prospectus, or arise out of or are based upon the omission or alleged omission to state therein
a material fact required to be stated therein or necessary to make the statements therein, with respect only to any Preliminary
Prospectus, the Time of Sale Disclosure Package, the Final Prospectuses, or any amendment or supplement thereto, or any Issuer
Free Writing Prospectus, in light of the circumstances under which they were made, not misleading; (ii) any and all loss, liability,
claim, damage and expense whatsoever, as incurred, joint or several, to the extent of the aggregate amount paid in settlement of
any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or of any claim
whatsoever based upon any such untrue statement or omission, or any such alleged untrue statement or omission; <I>provided</I>
that (subject to <U>Section&nbsp;10(c)</U> below) any such settlement is effected with the written consent of the Company, which
consent shall not unreasonably be delayed or withheld; and (iii) any and all expense whatsoever, as incurred (including the fees
and disbursements of counsel), reasonably incurred in investigating, preparing or defending against any litigation, or any investigation
or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon any such untrue statement
or omission, or any such alleged untrue statement or omission (whether or not a party), to the extent that any such expense is
not paid under (i)&nbsp;or (ii)&nbsp;above; <I>provided, however</I>, that the Company shall not be liable in any such case to
the extent that any such loss, claim, damage, expense, liability or action arises out of or is based upon an untrue statement or
alleged untrue statement or omission or alleged omission made in the Registration Statement, any Preliminary Prospectuses, the
Time of Sale Disclosure Package, the Final Prospectuses, or any such amendment or supplement, any Issuer Free Writing Prospectus,
solely in reliance upon and in conformity with information provided in writing to the Company through the Representative by or
on behalf of any Underwriter specifically for use therein; it being understood and agreed that the only such information furnished
by the Underwriters consists of the information described as such in <U>Section&nbsp;6(g)</U>. To the extent that any reimbursement
payment is so held to have been improper, the Underwriters that received such payment shall promptly return it to the party or
parties that made such payment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Underwriter, severally and not jointly, will indemnify and hold harmless the Company, its affiliates, directors and officers and
each person, if any, who controls the Company within the meaning of Section&nbsp;15 of the Securities Act and Section&nbsp;20 of
the Exchange Act, from and against any losses, claims, damages or liabilities to which the Company may become subject, under the
Securities Act, Canadian Securities Laws or otherwise (including in settlement of any litigation, if such settlement is effected
with the written consent of such Underwriters), insofar as such losses, claims, damages or liabilities (or actions in respect thereof)
arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in the Registration
Statement, any Preliminary Prospectuses, the Time of Sale Disclosure Package, the Final Prospectuses, or any amendment or supplement
thereto, or any Issuer Free Writing Prospectus or arise out of or are based upon the omission or alleged omission to state therein
a material fact required to be stated therein or necessary to make the statements therein not misleading, in each case to the extent,
but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in the
Registration Statement, any Preliminary Prospectuses, the Time of Sale Disclosure Package, the Final Prospectuses, or any such
amendment or supplement, or any Issuer Free Writing Prospectus in reliance upon and in conformity with information provided in
writing to the Company through the Representative by or on behalf of any Underwriter specifically for use therein; it being understood
and agreed that the only such information furnished by the Underwriters consists of the information described as such in <U>Section&nbsp;6(g)</U>,
and will reimburse the Company for any legal or other expenses reasonably incurred by the Company in connection with investigating
or defending against any such loss, claim, damage, liability or action as such expenses are incurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
party that proposes to assert the right to be indemnified under this&nbsp;<U>Section 6</U>&nbsp;will, promptly after receipt of
notice of commencement of any action against such party in respect of which a claim is to be made against an indemnifying party
or parties under this&nbsp;<U>Section 6</U>, notify each such indemnifying party of the commencement of such action, enclosing
a copy of all papers served, but the omission so to notify such indemnifying party will not relieve the indemnifying party from
(i)&nbsp;any liability that it might have to any indemnified party otherwise than under this&nbsp;<U>Section 6</U> and (ii)&nbsp;any
liability that it may have to any indemnified party under the foregoing provision of this&nbsp;<U>Section 6</U>&nbsp;unless, and
only to the extent that, such omission results in the forfeiture of substantive rights or defenses by the indemnifying party.&nbsp;If
any such action is brought against any indemnified party and it notifies the indemnifying party of its commencement, the indemnifying
party will be entitled to participate in and, to the extent that it elects by delivering written notice to the indemnified party
promptly after receiving notice of the commencement of the action from the indemnified party, jointly with any other indemnifying
party similarly notified, to assume the defense of the action, with counsel reasonably satisfactory to the indemnified party, and
after notice from the indemnifying party to the indemnified party of its election to assume the defense, the indemnifying party
will not be liable to the indemnified party for any legal or other expenses except as provided below and except for the reasonable
costs of investigation subsequently incurred by the indemnified party in connection with the defense.&nbsp;The indemnified party
will have the right to employ its own counsel in any such action, but the fees, expenses and other charges of such counsel will
be at the expense of such indemnified party unless (1)&nbsp;the employment of counsel by the indemnified party has been authorized
in writing by the indemnifying party, (2)&nbsp;the indemnified party has reasonably concluded (based on advice of counsel) that
there may be legal defenses available to it or other indemnified parties that are different from or in addition to those available
to the indemnifying party, (3)&nbsp;a conflict or potential conflict exists (based on advice of counsel to the indemnified party)
between the indemnified party and the indemnifying party (in which case the indemnifying party will not have the right to direct
the defense of such action on behalf of the indemnified party) or (4)&nbsp;the indemnifying party has not in fact employed counsel
to assume the defense of such action or counsel reasonably satisfactory to the indemnified party, in each case, within a reasonable
time after receiving notice of the commencement of the action; in each of which cases the reasonable fees, disbursements and other
charges of counsel will be at the expense of the indemnifying party or parties.&nbsp;It is understood that the indemnifying party
or parties shall not, in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the reasonable
fees, disbursements and other charges of more than one separate firm (plus local counsel) admitted to practice in such jurisdiction
at any one time for all such indemnified party or parties.&nbsp;All such fees, disbursements and other charges will be reimbursed
by the indemnifying party promptly as they are incurred.&nbsp;An indemnifying party will not, in any event, be liable for any settlement
of any action or claim effected without its written consent.&nbsp;No indemnifying party shall, without the prior written consent
of each indemnified party, settle or compromise or consent to the entry of any judgment in any pending or threatened claim, action
or proceeding relating to the matters contemplated by this&nbsp;<U>Section 6</U>&nbsp;(whether or not any indemnified party is
a party thereto), unless such settlement, compromise or consent (1)&nbsp;includes an unconditional release of each indemnified
party, in form and substance reasonably satisfactory to such indemnified party, from all liability arising out of such litigation,
investigation, proceeding or claim and (2)&nbsp;does not include a statement as to or an admission of fault, culpability or a failure
to act by or on behalf of any indemnified party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for reasonable fees and expenses
of counsel, such indemnifying party agrees that it shall be liable for any settlement of the nature contemplated by&nbsp;<U>Section&nbsp;6(a)</U>
or <U>Section 6(b)</U>&nbsp;effected without its written consent if (1)&nbsp;such settlement is entered into more than 45 days
after receipt by such indemnifying party of the aforesaid request, (2)&nbsp;such indemnifying party shall have received notice
of the terms of such settlement at least 30 days prior to such settlement being entered into and (3)&nbsp;such indemnifying party
shall not have reimbursed such indemnified party in accordance with such request prior to the date of such settlement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
order to provide for just and equitable contribution in circumstances in which the indemnification provided for in the foregoing
paragraphs of this&nbsp;<U>Section 6</U>&nbsp;is applicable in accordance with its terms but for any reason is held to be unavailable
from the Company or the Underwriters, the Company and the Underwriters will contribute to the total losses, claims, damages or
liabilities (including any investigative, legal and other expenses reasonably incurred in connection with, and any amount paid
in settlement of, any action, suit or proceeding or any claim asserted, but after deducting any contribution received by the Company
from persons other than the Underwriters, such as persons who control the Company within the meaning of the Securities Act, officers
of the Company who signed the Registration Statement and directors of the Company, who also may be liable for contribution) to
which the Company and the Underwriters may be subject in such proportion as shall be appropriate to reflect the relative benefits
received by the Company on the one hand and the Underwriters on the other hand.&nbsp;The relative benefits received by the Company
on the one hand and the Underwriters on the other hand shall be deemed to be in the same proportion as the total net proceeds from
the sale of the Shares (before deducting expenses) received by the Company bear to the total compensation received by the Underwriters
(before deducting expenses) from the sale of Shares.&nbsp;If, but only if, the allocation provided by the foregoing sentence is
not permitted by applicable law, the allocation of contribution shall be made in such proportion as is appropriate to reflect not
only the relative benefits referred to in the foregoing sentence but also the relative fault of the Company, on the one hand, and
the Underwriters, on the other hand, with respect to the statements or omission that resulted in such loss, claim, liability, expense
or damage, or action in respect thereof, as well as any other relevant equitable considerations with respect to the offering.&nbsp;Such
relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material
fact or omission or alleged omission to state a material fact relates to information supplied by the Company or the Underwriters,
the intent of the parties and their relative knowledge, access to information and opportunity to correct or prevent such statement
or omission.&nbsp;The Company and the Underwriters agree that it would not be just and equitable if contributions pursuant to this&nbsp;<U>Section
6(e)</U>&nbsp;were to be determined by pro rata allocation or by any other method of allocation that does not take into account
the equitable considerations referred to herein.&nbsp;The amount paid or payable by an indemnified party as a result of the loss,
claim, liability, expense, or damage, or action in respect thereof, referred to above in this&nbsp;<U>Section 6(e)</U>&nbsp;shall
be deemed to include, for the purpose of this&nbsp;<U>Section 6(e)</U>, any legal or other expenses reasonably incurred by such
indemnified party in connection with investigating or defending any such action or claim to the extent consistent with&nbsp;<U>Section
6(c)</U>&nbsp;hereof.&nbsp;Notwithstanding the foregoing provisions of this&nbsp;<U>Section 6(e)</U>, the Underwriters shall not
be required to contribute any amount in excess of the commissions received by them under this Agreement and no person found guilty
of fraudulent misrepresentation (within the meaning of&nbsp;Section 11(f)&nbsp;of the Securities Act) will be entitled to contribution
from any person who was not guilty of such fraudulent misrepresentation.&nbsp;For purposes of this&nbsp;<U>Section 6(e)</U>, any
person who controls a party to this agreement within the meaning of the Securities Act, and any officers, directors, partners,
employees or agents of the Underwriters, will have the same rights to contribution as that party, and each director of the Company
and each officer of the Company who signed the Registration Statement will have the same rights to contribution as the Company,
subject in each case to the provisions hereof.&nbsp;Any party entitled to contribution, promptly after receipt of notice of commencement
of any action against such party in respect of which a claim for contribution may be made under this&nbsp;<U>Section 6(e)</U>,
will notify any such party or parties from whom contribution may be sought, but the omission to so notify will not relieve that
party or parties from whom contribution may be sought from any other obligation it or they may have under this&nbsp;<U>Section
6(e)</U>&nbsp;except to the extent that the failure to so notify such other party materially prejudiced the substantive rights
or defenses of the party from whom contribution is sought.&nbsp;Except for a settlement entered into pursuant to the last sentence
of&nbsp;<U>Section 6(c)</U>&nbsp;hereof, no party will be liable for contribution with respect to any action or claim settled without
its written consent if such consent is required pursuant to&nbsp;<U>Section 6(c)</U>&nbsp;hereof. The Underwriters&rsquo; obligations
in this <U>Section 6(e)</U> to contribute are several in proportion to their respective underwriting obligations and not joint.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
obligations of the Company under this <U>Section&nbsp;6</U> shall be in addition to any liability which the Company may otherwise
have and shall extend, upon the same terms and conditions, to each person, if any, who controls any Underwriter within the meaning
of the Securities Act; and the obligations of the Underwriters under this <U>Section&nbsp;6</U> shall be in addition to any liability
that any Underwriter may otherwise have and shall extend, upon the same terms and conditions, to each director of the Company (including
any person who, with his consent, is named in the Registration Statement as about to become a director of the Company), to each
officer of the Company who has signed the Registration Statement and to each person, if any, who controls the Company within the
meaning of the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Underwriters confirm and the Company acknowledges that the statements with respect to the public offering of the Shares by the
Underwriters set forth in (i) the list of Underwriters and their respective participation in the sale of the Shares, (ii) the sentences
related to concessions and (iii) the paragraph related to stabilization, syndicate covering transactions and penalty bids, in each
case under the heading &ldquo;Underwriting&rdquo; in the Time of Sale Disclosure Package and in the Final Prospectuses are correct
and constitute the only information concerning the Underwriters furnished in writing to the Company by the Representative specifically
for use in the Registration Statement, any Preliminary Prospectuses, the Time of Sale Disclosure Package, the Final Prospectuses
or any Issuer Free Writing Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Representations
and Agreements to Survive Delivery</I></B>. All representations, warranties, and agreements of the Company herein or in certificates
delivered pursuant hereto, including but not limited to the agreements of the Underwriters and the Company contained in <U>Section&nbsp;6</U>
hereof, shall remain operative and in full force and effect regardless of any investigation made by or on behalf of the Underwriters
or any controlling person thereof, or the Company or any of its officers, directors, or controlling persons, or any controlling
person thereof, and shall survive delivery of, and payment for, the Shares to and by the Underwriters hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Termination
of this Agreement.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Representative shall have the right to terminate this Agreement by giving notice to the Company as hereinafter specified at any
time at or prior to the First Closing Date, and the option referred to in <U>Section 3(b)</U>, if exercised, may be cancelled at
any time prior to the Second Closing Date, if (i)&nbsp;the Company shall have failed, refused or been unable, at or prior to such
closing date, to perform any agreement on its part to be performed hereunder, (ii)&nbsp;any other condition of the Underwriters&rsquo;
obligations hereunder is not fulfilled, (iii)&nbsp;trading on the NASDAQ or TSX of the Company&rsquo;s Common Shares shall have
been suspended, (iv)&nbsp;minimum or maximum prices for trading shall have been fixed, or maximum ranges for prices for securities
shall have been required, on the NASDAQ or TSX, by such Exchange or by order of the Commission or any other Governmental Authority
having jurisdiction, (v)&nbsp;a banking moratorium shall have been declared by U.S. federal, Canadian federal or state authorities,
or (vi)&nbsp;there shall have occurred any outbreak or escalation of hostilities or any calamity or crisis that, in the Representative&rsquo;s
judgment, is material and adverse and makes it impractical or inadvisable to proceed with the completion of the sale of and payment
for the Shares. Any such termination shall be without liability of any party to any other party except that the provisions of <U>Section&nbsp;4(f)</U>,
<U>Sections 6</U>, <U>Section 7</U>, <U>Section 12</U>, <U>Section 13</U> and <U>Section 16</U> hereof shall remain full force
and effect, notwithstanding such termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the Representative elects to terminate this Agreement as provided in this <U>Section&nbsp;8</U>, the Company shall be notified
promptly by the Representative by telephone, confirmed by letter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Default
by the Company</I></B>. If the Company shall fail at the First Closing Date to sell and deliver the number of Shares which it is
obligated to sell hereunder, then this Agreement shall terminate without any liability on the part of any Underwriter or, except
as provided in <U>Section&nbsp;4(f)</U> and <U>Section&nbsp;6</U> hereof, any non-defaulting party. No action taken pursuant to
this <U>Section&nbsp;9</U> shall relieve the Company from liability, if any, in respect of such default.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Default
by the Underwriters. </I></B>If, on the First Closing Date or any Second Closing Date any one or more of the several Underwriters
shall fail or refuse to purchase Shares that it or they have agreed to purchase hereunder on such date, and the aggregate number
of Shares which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase does not exceed 10% of the
aggregate number of the Shares to be purchased on such date, the Representative may make arrangements satisfactory to the Company
for the purchase of such Shares by other persons, including any of the Underwriters, but if no such arrangements are made by such
date, the other Underwriters shall be obligated, severally and not jointly, in the proportions that the number of Firm Shares set
forth opposite their respective names on&nbsp;<U>Schedule I</U>&nbsp;bears to the aggregate number of Firm Shares set forth opposite
the names of all such non-defaulting Underwriters, or in such other proportions as may be specified by the Representative with
the consent of the non-defaulting Underwriters, to purchase the Shares which such defaulting Underwriter or Underwriters agreed
but failed or refused to purchase on such date. If, on the First Closing Date or any Second Closing Date, any one or more of the
Underwriters shall fail or refuse to purchase Shares and the aggregate number of Shares with respect to which such default occurs
exceeds 10% of the aggregate number of Shares to be purchased on such date, and arrangements satisfactory to the Representative
and the Company for the purchase of such Shares are not made within 48 hours after such default, this Agreement shall terminate
without liability of any party to any other party except that the provisions of&nbsp;<U>Section&nbsp;4(f)</U>&nbsp;and <U>Section&nbsp;6</U>
shall at all times be effective and shall survive such termination.&nbsp;In any such case either the Representative or the Company
shall have the right to postpone the applicable Closing Date, as the case may be, but in no event for longer than seven days in
order that the required changes, if any, to the Registration Statement and the Prospectus or any other documents or arrangements
may be effected. No action taken pursuant to this section shall relieve any defaulting Underwriter from liability, if any, in respect
of such default. As used in this Agreement, the term &ldquo;<B><I>Underwriter</I></B>&rdquo; shall be deemed to include any person
substituted for a defaulting Underwriter under this&nbsp;Section&nbsp;10.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Notices</I></B>.
Except as otherwise provided herein, all communications hereunder shall be in writing and, if to the Underwriters, shall be mailed
or delivered to the Representative, c/o Ladenburg Thalmann &amp; Co. Inc., 277 Park Avenue, 26<SUP>th</SUP> Floor, New York, New
York (fax no.: 212-409-2169) attention Joseph Giovanniello; and if to the Company, shall be mailed or delivered to the address
of the Company set forth in the Registration Statement, Attention: Secretary. Any such communications shall take effect upon receipt
thereof. Any party to this Agreement may change such address for notices by sending to the parties to this Agreement written notice
of a new address for such purpose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Agent
for Service; Waiver of Immunities</I></B>. By the execution and delivery of this Agreement, the Company (a) acknowledges that it
has, by separate written instrument, irrevocably designated and appointed CT Corporation System (or any successor) (together with
any successor, the &ldquo;<B><I>Agent for Service</I></B>&rdquo;), as its authorized agent upon which process may be served in
any suit or proceeding arising out of or relating to this Agreement or the Shares, that may be instituted in any U.S. federal or
state court in the State of New York, or brought under federal or state securities laws, and acknowledges that the Agent for Service
has accepted such designation, and (b) agrees that service of process upon the Agent for Service (or any successor) and written
notice of said service to the Company (mailed or delivered to CT Corporation System at 111 Eighth Avenue, 13<SUP>th</SUP> Floor,
New York, New York 10011), shall be deemed in every respect effective service of process upon the Company in any such suit or proceeding.
The Company further agrees to take any and all action, including the execution and filing of any and all such documents and instruments,
as may be necessary to continue such designation and appointment of the Agent for Service in full force and effect so long as any
of the Shares shall be outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Consent
to Jurisdiction</I></B>. <B>EACH PARTY HEREBY IRREVOCABLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE STATE AND FEDERAL COURTS
SITTING IN THE CITY OF NEW YORK, BOROUGH OF MANHATTAN, FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH ANY
TRANSACTION CONTEMPLATED HEREBY, AND HEREBY IRREVOCABLY WAIVES, AND AGREES NOT TO ASSERT IN ANY SUIT, ACTION OR PROCEEDING, ANY
CLAIM THAT IT IS NOT PERSONALLY SUBJECT TO THE JURISDICTION OF ANY SUCH COURT, THAT SUCH SUIT, ACTION OR PROCEEDING IS BROUGHT
IN AN INCONVENIENT FORUM OR THAT THE VENUE OF SUCH SUIT, ACTION OR PROCEEDING IS IMPROPER.&nbsp;EACH PARTY HEREBY IRREVOCABLY WAIVES
PERSONAL SERVICE OF PROCESS AND CONSENTS TO PROCESS BEING SERVED IN ANY SUCH SUIT, ACTION OR PROCEEDING BY MAILING A COPY THEREOF
(CERTIFIED OR REGISTERED MAIL, RETURN RECEIPT REQUESTED) TO SUCH PARTY AT THE ADDRESS IN EFFECT FOR NOTICES TO IT UNDER THIS AGREEMENT
AND AGREES THAT SUCH SERVICE SHALL CONSTITUTE GOOD AND SUFFICIENT SERVICE OF PROCESS AND NOTICE THEREOF.&nbsp;NOTHING CONTAINED
HEREIN SHALL BE DEEMED TO LIMIT IN ANY WAY ANY RIGHT TO SERVE PROCESS IN ANY MANNER PERMITTED BY LAW. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Persons
Entitled to Benefit of Agreement</I></B>. This Agreement shall inure to the benefit of and be binding upon the parties hereto and
their respective successors and assigns and the controlling persons, officers, directors, employees and agents referred to in <U>Section&nbsp;6</U>.
Nothing in this Agreement is intended or shall be construed to give to any other person, firm or corporation any legal or equitable
remedy or claim under or in respect of this Agreement or any provision herein contained. The term &ldquo;successors and assigns&rdquo;
as herein used shall not include any purchaser, as such purchaser, of any of the Shares from the Underwriters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Absence
of Fiduciary Relationship</I></B>. The Company acknowledges and agrees that: (a)&nbsp;the Underwriters have been retained solely
to act as underwriters in connection with the sale of the Shares and that no fiduciary, advisory or agency relationship between
the Company and the Underwriters have been created in respect of any of the transactions contemplated by this Agreement, irrespective
of whether the Underwriters have advised or are advising the Company on other matters; (b)&nbsp;the price and other terms of the
Shares set forth in this Agreement were established by the Company following discussions and arms-length negotiations with the
Underwriters and the Company is capable of evaluating and understanding and understands and accepts the terms, risks and conditions
of the transactions contemplated by this Agreement; (c)&nbsp;it has been advised that the Underwriters and their respective affiliates
are engaged in a broad range of transactions which may involve interests that differ from those of the Company and that the Underwriters
have no obligation to disclose such interest and transactions to the Company by virtue of any fiduciary, advisory or agency relationship;
(d)&nbsp;it has been advised that the Underwriters are acting, in respect of the transactions contemplated by this Agreement, solely
for the benefit of the Underwriters, and not on behalf of the Company; and (e)&nbsp;it waives to the fullest extent permitted by
law, any claims it may have against the Underwriters for breach of fiduciary duty or alleged breach of fiduciary duty in respect
of any of the transactions contemplated by this Agreement and agrees that the Underwriters shall have no liability (whether direct
or indirect) to the Company in respect of such a fiduciary duty claim on behalf of or in right of the Company, including stockholders,
employees or creditors of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Governing
Law; Waiver of Jury Trial</I></B>. This Agreement shall be governed by and construed in accordance with the laws of the State of
New York. Each party hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by
jury in any legal proceeding arising out of or relating to this Agreement or the transactions contemplated hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Counterparts</I></B>.
This Agreement may be executed in one or more counterparts and, if executed in more than one counterpart, the executed counterparts
shall each be deemed to be an original and all such counterparts shall together constitute one and the same instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>General
Provisions</I></B>. This Agreement constitutes the entire agreement of the parties to this Agreement and supersedes all prior written
or oral and all contemporaneous oral agreements, understandings and negotiations with respect to the subject matter hereof. This
Agreement may not be amended or modified unless in writing by all of the parties hereto, and no condition herein (express or implied)
may be waived unless waived in writing by each party whom the condition is meant to benefit. The Section headings herein are for
the convenience of the parties only and shall not affect the construction or interpretation of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature Pages Follow]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">If the foregoing is in
accordance with your understanding, please sign and return to us one original for the Company plus one original for counsel of
any counterparties hereof, and upon the acceptance hereof by the Underwriters, this Agreement and such acceptance hereof shall
constitute a binding agreement between the Underwriters and the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Very truly yours,</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; width: 50%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 5%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 35%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-transform: uppercase"><B>ONCOLYTICS BIOTECH Inc.</B></FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Matthew Coffey</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: </FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Matthew C. Coffey</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: </FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 225pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The foregoing Underwriting Agreement is hereby<BR>
confirmed and accepted as of the<BR>
date first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="text-transform: uppercase">Ladenburg
Thalmann &amp; Co. Inc.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 35%; padding: 0; text-align: justify; text-indent: 0; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
David Strupp</FONT></TD>
    <TD STYLE="width: 60%; padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: </FONT></TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">David Strupp</FONT></TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: </FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Managing Director &amp; Head of Healthcare Banking</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For itself and the other<BR>
several Underwriters named in<BR>
Schedule I to the foregoing<BR>
Underwriting Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Schedule
I</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 80%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 65%; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><BR>
<FONT STYLE="font-size: 10pt"><B><U>Underwriter&#9;</U></B></FONT></TD>
    <TD STYLE="width: 5%; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 30%; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Firm Shares </B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B><U>to be Purchased<SUP>(1)</SUP></U></B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Ladenburg Thalmann &amp; Co. Inc.</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">1,372,213</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>Total:</B></FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">1,372,213</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">(1) The Underwriters may purchase up to an
additional 205,832 Option Shares, to the extent the option described in <U>Section 3(b)</U> of the Agreement is exercised.<BR>
<BR>
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>SCHEDULE II</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Issuer General Free Writing Prospectuses</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">None.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE III</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pricing Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Number of Firm Shares to be Issued: 1,372,213</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Number of Option Shares: 205,832</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Offering Price: US$5.83 per Share</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Underwriting Discounts and Commissions: 7.0%</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE IV</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Officers and Directors Subject to Lockup</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD>Matthew C. Coffey</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD>Kirk J. Look</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3.</TD><TD>Wayne Pisano</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4.</TD><TD>Deborah M. Brown</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">5.</TD><TD>Angela Holtham</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">6.</TD><TD>J. Mark Lievonen</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">7.</TD><TD>William G. Rice</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">8.</TD><TD>Bernd R. Seizinger</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">9.</TD><TD>Andrew de Guttadauro&#9;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><BR>
<BR>
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Form of Lock-Up Agreement </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5in; text-align: right">___________, 2018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladenburg Thalmann &amp; Co. Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">570 Lexington Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">11<SUP>th</SUP> Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Re:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Public
Offering of Oncolytics Biotech Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned, an
officer, director or holder of common shares, no par value (&ldquo;<U>Common Shares</U>&rdquo;), or rights to acquire Common Shares,
of&nbsp;Oncolytics Biotech Inc. (the &ldquo;<U>Company</U>&rdquo;), understands that you, as the underwriter, propose to enter
into an Underwriting Agreement (the &ldquo;<U>Underwriting Agreement</U>&rdquo;) with the Company, providing for the public offering
(the &ldquo;<U>Offering</U>&rdquo;) by you of Common Shares (the &ldquo;<U>Securities</U>&rdquo;), pursuant to a registration statement
on Form F-10 (as amended, the &ldquo;<U>Registration Statement</U>&rdquo;) filed with the Securities and Exchange Commission (the
&ldquo;<U>SEC</U>&rdquo;). Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Underwriting
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In consideration of
your agreement to enter into the Underwriting Agreement and to proceed with the Offering of the Securities, and for other good
and valuable consideration, receipt of which is hereby acknowledged, the undersigned hereby agrees for the benefit of the Company
and you that, without your prior written consent, the undersigned will not, during the period commencing on the date hereof and
ending ninety (90) days (the &ldquo;<U>Lock-Up Period</U>&rdquo;) after the date of the final prospectus relating to the Offering
(the &ldquo;<U>Prospectus</U>&rdquo;), directly or indirectly: (1) offer, pledge, assign, encumber, announce the intention to sell,
sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right
or warrant to purchase, or otherwise transfer or dispose of, any Common Shares or any securities convertible into or exercisable
or exchangeable for Common Shares owned either of record or beneficially or may be deemed to be beneficially owned (as defined
in Rule 13d-3(a)(2) of the Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated thereunder
(the &ldquo;<U>Exchange Act</U>&rdquo;)) by the undersigned on the date hereof or hereafter acquired or (2) enter into any swap
or other agreement that transfers, in whole or in part, any of the economic consequences of ownership of the Common Shares, whether
any such transaction described in clause (1) or (2) above is to be settled by delivery of Common Shares or such other securities,
in cash or otherwise, or (3) make any demand for or exercise any right with respect to, the registration of any Common Shares or
any security convertible into or exercisable or exchangeable for Common Shares, or (4) publicly announce an intention to do any
of the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The restrictions in
the immediately preceding paragraph shall not apply to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a) transfers of Common Shares or any security
convertible into or exercisable or exchangeable for Common Shares (i)&nbsp;as a bona fide gift, or gifts, (ii)&nbsp;to an immediate
family member or a trust for the direct or indirect benefit of the undersigned or such immediate family member of the undersigned,
or (iii)&nbsp;by will or intestacy;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b) equity securities issued pursuant to
the Company&rsquo;s equity incentive plans in effect as of the date hereof or pursuant to bona fide equity incentive plans hereafter
established, and the exercise of options granted under the Company&rsquo;s equity incentive plans; <I>provided</I> that the Common
Shares delivered upon such exercise are subject to the restrictions set forth in the immediately preceding paragraph;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(c) transfers of Common Shares to the Company
(i)&nbsp;as forfeitures to satisfy tax withholding and remittance obligations of the undersigned in connection with the vesting
or exercise of equity awards granted pursuant to the Company&rsquo;s equity incentive plans, or (ii)&nbsp;pursuant to a net exercise
or cashless exercise by the shareholder of outstanding equity awards pursuant to the Company&rsquo;s equity incentive plans;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(d) the establishment of a trading plan
that complies with Rule 10b5-1 under the Exchange Act; <I>provided</I>, <I>however</I>, that (i) the restrictions shall apply in
full force to sales or other dispositions pursuant to such Rule 10b5-1 plan during the Lock-Up Period and (ii) no public announcement
or disclosure of entry into such Rule 10b5-1 plan is made or required to be made, including any filing with the SEC under Section
13 or Section 16 of the Exchange Act;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(e) transfers of Common Shares to a charity
or education institution;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(f) if the undersigned is or, directly
or indirectly, controls a corporation, partnership, limited liability company or other business entity, any transfers of Common
Shares to any shareholder, partner or member of, or owner of similar equity interests in, the undersigned, as the case may be;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(g) transactions relating to the Common
Shares acquired in open market transactions after the completion of the Offering;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>provided that</I>, in the case of any
transfer or distribution pursuant to clauses (a), (e) and (f), (1) the recipient agrees to be bound in writing by the same restrictions
set forth herein for the duration of the Lock-Up Period and (2) any such transfer shall not involve a disposition for value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In furtherance of the
foregoing, the Company and any duly appointed transfer agent for the registration or transfer of the securities described herein,
are hereby authorized to decline to make any transfer of securities if such transfer would constitute a violation or breach of
this Lock-Up Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned hereby
represents and warrants that the undersigned has full power and authority to enter into this Lock-Up Agreement. All authority herein
conferred or agreed to be conferred and any obligations of the undersigned shall be binding upon the successors, assigns, heirs
or personal representatives of the undersigned.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned understands
that the undersigned shall be released from all obligations under this Lock-Up Agreement upon the earliest to occur of: (i) the
Registration Statement does not become effective and the Company files with the SEC a notice of withdrawal of the Registration
Statement pursuant to Rule 477 of the Securities Act of 1933, as amended, (ii) the Underwriting Agreement does not become effective
by June 15, 2018, or, if after becoming effective, the Underwriting Agreement (other than the provisions thereof which survive
termination) shall terminate or be terminated prior to payment for and delivery of the Common Shares to be sold thereunder, or
(iii) the Company provides written notice to you that the Company does not intend to proceed with the Offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned, whether
or not participating in the Offering, understands that you are e</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ntering into the Underwriting Agreement and proceeding with the
Offering in reliance upon this Lock-Up Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Lock-Up Agreement
shall be governed by and construed in accordance with the laws of the State of New York, without regard to the conflict of laws
principles thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature Page Follows]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Very truly yours,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0; width: 50%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 5%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0; width: 45%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Signature:</FONT></TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Print Name:</FONT></TD>
    <TD STYLE="padding: 0; text-align: center; text-indent: 0; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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