Family, Friends and Business Associates Exemption

Family, Friends and Business Associates Exemption means the exemption from the prospectus requirement available in all jurisdictions of Canada pursuant to securities legislation and, without limiting the foregoing, for reference, may include a distribution of a security by an issuer to a director, executive officer, control person and founder of an issuer and certain family, close personal friends and close business associates of such persons.

(See Prospectus Exemptions)