OSC Bulletin · April 9, 2015 (2015), 38 OSCB 3305 Chapter 1 Notices / News Releases 1.1.1 CSA...

The Ontario Securities Commission

OSC Bulletin

April 9, 2015

Volume 38, Issue 14

(2015), 38 OSCB

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April 9, 2015 (2015), 38 OSCB

Table of Contents

Chapter 1 Notices / News Releases ...................... 3305 1.1 Notices .......................................................... 3305 1.1.1 CSA Staff Notice 43-309 – Review of Website Investor Presentations by Mining Issuers ................................................ 3305 1.1.2 OSC Staff Notice 11-739 (Revised) – Policy Reformulation Table of Concordance and List of New Instruments ........................... 3307 1.1.3 Notice of Ministerial Approval of the Revocation and Replacement of OSC Rule 13-502 Fees and OSC Rule 13-503 (Commodity Futures Act) Fees ....................... 3310 1.2 Notices of Hearing ........................................ 3311 1.2.1 Future Solar Developments Inc. et al. – ss. 127, 127.1 ............................................. 3311 1.2.2 Edward Furtak et al. – ss. 127 and 127.1 ....................................... 3315 1.2.3 Eric Inspektor – ss. 127 and 127.1 ................. 3321 1.2.4 Blue Gold Holdings Ltd. et al. – ss. 127 and 127.1 ....................................... 3322 1.2.5 Gordon Mak – ss. 127(1), 127(10) ................. 3324 1.2.6 Andre Lewis – ss. 127(1) and 127(10) ........... 3329 1.3 News Releases .............................................. (nil) 1.4 Notices from the Office of the Secretary ............................................ 3333 1.4.1 Future Solar Developments Inc. et al. ............ 3333 1.4.2 Satish Talawdekar and Anand Hariharan ........................................................ 3333 1.4.3 Edward Furtak et al. ....................................... 3334 1.4.4 Eric Inspektor ................................................. 3334 1.4.5 Blue Gold Holdings Ltd. et al. ......................... 3335 1.4.6 Christopher Reaney ....................................... 3335 1.4.7 Gordon Mak .................................................... 3336 1.4.8 Andre Lewis .................................................... 3336 1.4.9 Quadrexx Hedge Capital Management Ltd. et al. ........................................................ 3337 Chapter 2 Decisions, Orders and Rulings ............ 3339 2.1 Decisions ...................................................... 3339 2.1.1 Vinci S.A. ........................................................ 3339 2.1.2 Probe Mines Limited ....................................... 3344 2.1.3 Brookfield Residential Properties Inc. ............ 3345 2.1.4 DTCC Data Repository (U.S.) LLC – s. 42 of the OSC Rule 91-507 Trade

Repositories and Derivatives Data Reporting ........................................................ 3349 2.1.5 Israel Chemicals Ltd. ...................................... 3351 2.1.6 Qwest Energy Financial Corp. – s. 1(10)(a)(ii) ............................................... 3354 2.1.7 NeuroBioPharm Inc. – s. 1(10)(a)(ii) ............... 3355 2.2 Orders............................................................ 3356 2.2.1 Satish Talawdekar and Anand Hariharan – ss. 127(1) and 127.1 ................................... 3356 2.2.2 Christopher Reaney – s. 8(4) ......................... 3358 2.2.3 Metro Inc. – s. 104(2)(c) ................................. 3360 2.2.4 Metro Inc. – s. 104(2)(c) ................................. 3364 2.2.5 Metro Inc. – s. 104(2)(c) ................................. 3368

2.2.6 Quadrexx Hedge Capital Management Ltd. et al. – Rule 6.7 of the Commission’s Rules of Procedure ........................................ 3372 2.3 Rulings ............................................................ (nil) Chapter 3 Reasons: Decisions, Orders and Rulings .................................................. 3373 3.1 OSC Decisions, Orders and Rulings .......... 3373 3.1.1 Satish Talawdekar and Anand Hariharan ....................................................... 3373 3.2 Court Decisions, Order and Rulings ............ (nil) Chapter 4 Cease Trading Orders .......................... 3377 4.1.1 Temporary, Permanent & Rescinding Issuer Cease Trading Orders ......................... 3377 4.2.1 Temporary, Permanent & Rescinding Management Cease Trading Orders ............. 3377 4.2.2 Outstanding Management & Insider Cease Trading Orders ................................... 3377 Chapter 5 Rules and Policies ................................ 3379 5.1.1 CSA Notice of Amendments to NI 51-102 Continuous Disclosure Obligations, NI 41-101 General Prospectus Requirements and NI 52-110 Audit Committees .......................................... 3379 Chapter 6 Request for Comments .......................... (nil) Chapter 7 Insider Reporting .................................. 3435 Chapter 8 Notice of Exempt Financings............... 3579

Reports of Trades Submitted on Forms 45-106F1 and 45-501F1 .............. 3579

Chapter 9 Legislation ............................................... (nil) Chapter 11 IPOs, New Issues and Secondary Financings ............................................. 3581 Chapter 12 Registrations ......................................... 3589 12.1.1 Registrants ..................................................... 3589 Chapter 13 SROs, Marketplaces,

Clearing Agencies and Trade Repositories ................................. (nil)

13.1 SROs ............................................................... (nil) 13.2 Marketplaces .................................................. (nil) 13.3 Clearing Agencies ......................................... (nil) 13.4 Trade Repositories ........................................ (nil) Chapter 25 Other Information ................................. 3591 25.1 Approvals ..................................................... 3591 25.1.1 Dorchester Wealth Management Company ... 3591 Index ............................................................................ 3593

April 9, 2015

(2015), 38 OSCB 3305

Chapter 1

Notices / News Releases

1.1.1 CSA Staff Notice 43-309 – Review of Website Investor Presentations by Mining Issuers CSA Staff Notice 43-309 – Review of Website Investor Presentations by Mining Issuers is reproduced on the following internally numbered pages. Bulletin pagination resumes at the end of the Staff Notice.


April 9, 2015

(2015), 38 OSCB 3306

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1

CSA Staff Notice 43-309 Review of Website Investor Presentations by Mining Issuers

April 9, 2015 1. Introduction This notice summarizes the findings of a review (the Review) of investor presentations on mining issuers’ websites, conducted by staff of the British Columbia Securities Commission (BCSC), the Ontario Securities Commission (OSC), and the Autorité des marchés financiers (AMF) (collectively, the Principal Mining Jurisdictions or we). We also provide practical information to assist mining issuers in designing investor presentations and websites that meet their disclosure obligations. The Review assessed investor presentations’ compliance with the requirements of National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101). In addition, we reviewed the forward looking information (FLI) against the requirements of Part 4A of National Instrument 51-102 Continuous Disclosure Obligations (NI 51-102). We expect mining issuers to use this notice as a self-assessment tool to strengthen their compliance with securities laws, in particular NI 43-101 and FLI disclosure requirements. 2. Summary of Results 2.1 Key Findings The results of our review highlight the need for mining issuers to improve their disclosure in order to comply with the following requirements of NI 43-101:

Naming the qualified person (QP): review of technical information by a QP directly improves compliance with requirements

Preliminary economic assessments (PEA): providing required cautionary statements ensures proper understanding of the PEA results’ limitations

Mineral resources and mineral reserves: a clear statement whether mineral resources include or exclude mineral reserves is essential to avoid misleading disclosure

Exploration targets: potential quantity and grade must be expressed as a range and be accompanied by the required statements outlining the target limitations

Historical estimates: disclosure must include source, date, reliability, key assumptions and be accompanied by the required cautionary statements.

2.2 Overall Assessment In general we found there is room for improvement for mining issuers to comply with disclosure requirements.

2

28%

57%

15%18%

57%

25%

Some issuers use terms and statements that could be interpreted as overly promotional or misleading, potentially resulting in a misrepresentation. Terms such as “world-class”, “spectacular”, “production ready”, or “ore” may be used inappropriately in certain circumstances. Misuse of such terms was more commonly seen with exploration or mineral resource stage issuers. Issuers at the mineral resource stage or earlier sometimes disclose anticipated economic outcomes for their mineral project such as production rate, capital and operating costs, or mine life suggesting that their project is at a more advanced stage of development than is supported by the existing technical report. Such disclosure may trigger the filing of a technical report to support the economic projections. Based on an overall assessment of 130 investor presentations for compliance with NI 43-101 and FLI requirements, as well as whether the information was balanced and not overly promotional, we assigned a rating to each of the investor presentations as “substantial compliance”, “minor non-compliance”, or “major non-compliance”. Of the 130 investor presentations, 54 presentations provided the name of the QP that approved the disclosure, and stated that QP's relationship to the issuer, as required by section 3.1 of NI 43-101. Those 54 presentations were rated as having substantial compliance or minor non-compliance 85% of the time, a significant improvement over the full population of presentations. As demonstrated in the following pie charts, the rating and overall compliance with NI 43-101 disclosure requirements increased significantly among investor presentations reviewed by a QP. We saw improvement in disclosure of exploration targets, mineral resources and mineral reserves, historical estimates and exploration information. No improvement was noted with disclosure of economic studies. Issuers are reminded of the requirement to name the QP responsible for approving the disclosure to ensure that the information complies with NI 43-101.

Overall Assessment 2.3 Actions Taken Of the 130 investor presentations reviewed, we sent letters to 49 mining issuers requiring them to amend their investor presentations and correct the non-compliant disclosure. As shown in the bar graph below, this resulted in a range of outcomes from mining issuers confirming future

All 130 Reviews

54 Reviews with QP Named

3

compliance with the requirements, to issuing a corrective news release, to filing or refiling a technical report. The majority of the corrective news releases and technical report filings or refilings resulted from non-compliant disclosure of economic studies, PEAs, mineral resources, mineral reserves, exploration targets, historical estimates, or overly promotional language.

Outcomes

29

137

0

5

10

15

20

25

30

Confirm FutureCompliance

Corrective NewsRelease

Technical ReportFiling or Refiling

Com

men

t Let

ters

3. Purpose and Objective Mining issuers make up approximately 43% (1,600) of the total number of reporting issuers overseen by CSA jurisdictions1. Approximately 94% of all mining issuers listed on the Toronto Stock Exchange (TSX), TSX Venture Exchange (TSXV), and the Canadian Stock Exchange (CSE) are regulated by the BCSC, OSC or AMF which maintain a staff of specialized mining professionals to review disclosure by mining issuers based in their respective jurisdictions. Investor presentations and other forms of investor relations materials contained on mining issuers’ websites provide a powerful tool for communication. Information found on issuer websites is captured by the definition of “written disclosure” in NI 43-101 and disclosure requirements apply. We often observe non-compliance with disclosure on mining issuers’ websites such as investor presentations, fact sheets, media articles, and links to third party content. Our Review was intended to provide data and analysis to better understand the nature, extent and compliance of the disclosure in investor presentations in order to better assist mining issuers and their investor relations personnel to improve their disclosure to investors.

1 As at December 2014

4

4. Profile of Issuers Reviewed Approximately 88% of all mining issuers listed on the TSX, TSXV, and the CSE are at the pre-production stage. Our review focused on a sample of 130 mining issuers at the pre-production stage from the Principal Mining Jurisdictions with investor presentations dated between December 2013 and October 2014. The following pie charts provide details of the profile of the mining issuers reviewed in our sample including stock exchange listing, development stage, project location, and main commodity.

75%

22%

3%

Stock Exchange

TSXVTSXCSE

38%

19%

26%

17%

Development Stage

ExplorationResourcePEAReserve

54%14%

12%

6%

5%5% 2% 2%

Project Location

Canada

United States

South America

Africa

Mexico

Europe

Australia

Asia

57%10%

5%

4%

4%

4%2%

2%2%

2%8%

Main CommodityGoldCopperUraniumSilverNickelLithiumPotashIronDiamondTitaniumOther

5

5. NI 43-101 Compliance The results of our Review are presented according to the following thresholds of non-compliance: High Level of Non-Compliance (greater than 50% of investor presentations reviewed) and Areas for Additional Improvement (between 30% and 50% of investor presentations reviewed). When discussing the Review findings the number of investor presentations that included the particular disclosure is provided followed by the percentage of presentations that did not comply with NI 43-101 requirements. After each Review finding, staff commentary is provided on specific disclosure requirements and reminders for mining issuers. See Appendix A for an overall summary of the 130 investor presentation Review and Appendix B for details of the Review measures and references to the applicable NI 43-101 requirements. 5.1 High Level of Non-Compliance A. Naming the QP Of the 130 investor presentations reviewed we found that only 54 provided the QP’s name and their relationship to the issuer resulting in 58% non-compliance. Staff commentary

B. PEA cautionary statements We observed that 34 of the investor presentations included financial results from a PEA level economic analysis and found that 56% lacked the required cautionary statements that the study included inferred mineral resources and the financial results of the PEA may not be realized.

The foundation of NI 43-101 is that scientific or technical information is prepared or approved by a QP and the document containing this disclosure provides the name and relationship to the issuer of the QP. We remind issuers that including the name of the QP and their relationship to the issuer is required for all documents containing scientific or technical disclosure, including websites and investor relations materials.

As shown by the results of this Review, the QP plays an important role in disclosure

compliance. While the issuer is responsible for its own disclosure, it must ensure that the technical information is consistent with the information provided by the QP. Having the QP review and approve the disclosure (such as the investor presentation, website, etc.) has shown improved compliance with NI 43-101.

6

Staff commentary

C. Caution that mineral resources are not mineral reserves We noted that 56 of the investor presentations included financial results of an economic analysis of mineral resources, 34 of which were results of a PEA level study. Of the 56 instances, 50% did not include the required statement cautioning the public that economic viability of the mineral resources has not been demonstrated by the economic analysis. Staff commentary

D. Inclusion or exclusion of mineral reserves in mineral resources We observed that 22 of the investor presentations disclosed both mineral resources and mineral reserves. For these presentations, it was not clear 50% of the time whether mineral resources included or excluded mineral reserves. This is important information in order to avoid double counting of the mineral resource estimate. Staff commentary

E. Exploration targets We observed that only 14 of the investor presentations included disclosure of an exploration target, but this disclosure was non-compliant 79% of the time. This significant level of non-compliance is related to either failing to express the target as ranges or not including the required cautions, or both.

When reporting both mineral resources and mineral reserves, a clear statement whether mineral resources include or exclude mineral reserves is required. As practices on this matter vary, it is essential to state which convention is being followed to avoid misleading disclosure. The CIM Estimation Best Practice Committee recommends that mineral resources should be reported separately and exclusive of mineral reserves.

Any disclosure implying that a PEA has demonstrated economic or technical viability is contrary to the definition of a PEA. In this context, disclosure of results of an economic analysis of mineral resources must include an equally prominent statement that, “mineral resources that are not mineral reserves do not have demonstrated economic viability”. This caution is required any time the disclosure includes the results of an economic analysis of mineral resources.

We caution issuers to ensure that disclosure of the results of a PEA provide appropriate cautionary statements for the public to understand the limitations of the results of the PEA. Disclosure of a PEA that include inferred mineral resources must state with equal prominence that, “the preliminary economic assessment is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized”.

7

Staff commentary

F. Historical estimates Our Review observed that 30 of the investor presentations included disclosure of an historical estimate, but this disclosure was non-compliant 60% of the time. Staff commentary

G. Exploration information about quality assurance/quality control and naming the laboratory We found that 86 of the investor presentations disclosed analytical or testing results, with 67% failing to disclose a summary of the quality assurance program and quality control measures applied and 71% failing to provide the name and location of the testing laboratory used. Staff commentary

H. Data verification Of the 130 investor presentations reviewed only 47 included any reference to a statement that the QP had verified the data resulting in 64% non-compliance.

Issuers may be able to comply with the disclosure requirements concerning exploration information by including in the written disclosure a reference to the title and date of a document previously filed on SEDAR that contains the exploration information. This may include previously filed documents such as news releases and technical reports. As discussed below, relying on previously filed documents is acceptable to satisfy some of the disclosure requirements in Part 3 of NI 43-101.

Disclosure of historical estimates continues to need improvement in order to comply with the requirements. Simply saying “not NI 43-101 compliant” does not meet that requirement. Issuers are reminded that the required information about the source, date, reliability, key assumptions and other factors must be provided each time the historical estimate is disclosed. In addition, an equally prominent statement is required alerting the public that, “a qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves” and “the issuer is not treating the historical estimate as current mineral resources or mineral reserves”.

Staff has significant concerns about the disclosure of exploration targets, which are not mineral resource estimates and cannot be used the way a mineral resource estimate would be. If a mining issuer chooses to disclose an exploration target, it must provide a reasonable basis for the target and also make the public aware of the target’s limitations. Both the potential quantity and grade of the exploration target must be expressed as ranges and be accompanied by an equally prominent statement that, “the potential quantity and grade is conceptual in nature, there has been insufficient exploration to define a mineral resource” and that “it is uncertain if further exploration will result in the target being delineated as a mineral resource”.

8

Staff commentary

5.2 Areas for Additional Improvement A. Taxes in economic studies We found that 56 of the investor presentations included financial results from economic studies (34 PEA level and 22 pre-feasibility or feasibility level). Of these 56 instances, 37% reported only pre-tax financial results or provided no information about the tax rate for the mineral project. Surprisingly, the level of pre-tax only financial results was higher for projects at a pre-feasibility or feasibility level than at a PEA level. Staff commentary

B. Metal price assumptions used in mineral resources and mineral reserves Eighty-one of the investor presentations disclosed mineral resources and 22 of these also disclosed mineral reserves. We found that 30% of the time no information was provided about the assumed metal price used for determining the mineral estimates.

Reporting only pre-tax financial results for an “advanced property”, which includes results of a PEA, pre-feasibility or feasibility study does not provide complete and balanced information for investors to appropriately assess the financial results. In order to properly evaluate the potential viability of mineral resources in a PEA, or to demonstrate viability in a pre-feasibility or feasibility study, the cash flow model needs to include assumptions that have an economic impact such as taxes, royalties, and other government levies.

Data verification is the process of confirming that the data underlying the written disclosure has been properly generated, was accurately transcribed, and is suitable for the purpose that the data is used. NI 43-101 requires the issuer to include a statement regarding verification of the data by the QP in the document containing the written disclosure.

As noted above with exploration information, disclosure regarding data verification

may be made compliant by referencing the title and date of a document previously filed by the issuer that contains the required data verification statement information by the QP.

9

Staff commentary

C. Drilling information regarding true widths and significantly higher grade intervals We observed that 70 of the investor presentations included drilling results. Of these, 38% did not include information on true widths of mineralized zones and 42% did not provide results of significantly higher grade intervals enclosed in a lower grade intersection. This type of information is particularly important for early stage projects. Staff commentary

5.3 Technical Report Triggers Technical reports are a key disclosure document under NI 43-101, supporting a mining issuer’s disclosure about its material mineral properties. Our Review identified 81 investor presentations that disclosed mineral resources, mineral reserves, or results of a PEA. First time written disclosure of mineral resources, mineral reserves, or results of a PEA, or a change to any of these that constitutes a material change for the issuer triggers the filing of a technical report. We noted that five of the 81 investor presentations (6%) disclosed financial results of an economic analysis (e.g. PEA or scoping study) that were not supported by a technical report.

When drilling results are reported, it is important that investors be provided with information about the nature and context of the results such as true width and higher grade intersections. Without this information the drilling results, especially at the exploration stage, may be potentially misleading.

In some cases, including representative drill sections or other figures showing

mineralized intervals may assist in providing the necessary information in investor presentations. Mining issuers may also be able to rely on a previously filed document that contains the required information.

Metal or commodity price assumptions are key factors in establishing the cut off grade for both mineral resources and mineral reserves and these assumptions can have a significant impact on the size of the mineral estimate. For this reason, it is important that the assumed metal or commodity price, and the cut-off grade, be clearly stated. Issuers are also reminded to provide the effective date of the reported estimate.

Providing a complete table of current mineral resources and mineral reserves with all

material assumptions in an appendix to the investor presentation may assist in providing the required information. Issuers may also be able to satisfy the requirement to disclose key assumptions by referencing the title and date of a document previously filed by the issuer that contains the required information. Nevertheless, if the assumed metal or commodity price is significantly below or above current prices, issuers should make sure the disclosure is not misleading by clearly stating the key assumptions.

10

Staff commentary

6. FLI Compliance The majority of investor presentations included FLI disclosure, often on slide two. We observed that 54% did not provide information required by paragraph 4A.3(c) of NI 51-102 concerning the material factors and assumptions used to develop the FLI. We expect that mining issuers will follow General Guidance (3) of Companion Policy 43-101CP indicating that FLI includes metal price assumptions used in mineral resource and mineral reserve estimates as well as other assumptions used in economic analysis and financial projections based on engineering studies. 7. Overly Promotional Terms and Potentially Misleading Information During the course of the Review, we also assessed the investor presentations for terms and statements that may be overly promotional or misleading, potentially resulting in a misrepresentation2 under securities legislation in a jurisdiction of Canada. Terms which may be used inappropriately in certain circumstances include, “world-class”, “spectacular and exceptional results”, “production ready”, “ore” in relation to mineral resources, and “management estimates”. We noted that 38% of the investor presentations included statements that could be considered overly promotional or misleading, especially exploration stage and mineral resource stage issuers, by portraying their project to be at a more advanced stage of development.

2 Misrepresentation as defined under securities legislation in each of the Canadian jurisdictions. Though the

wording of the definition of "misrepresentation" differs slightly, in substance this definition is harmonized in all jurisdictions.

Notwithstanding the fact that our review showed a high level of compliance, we have determined that a highlight of this requirement is warranted based on the relative gravity of not complying with the technical report trigger.

We have significant concerns when information provided on a mining issuer’s website includes PEA disclosure that is not supported by the existing technical report. Disclosing economic projections in investor presentations, fact sheets, posted or linked third party reports, or any statements on the issuer’s website may trigger the filing of a technical report to support the disclosure.

Mining issuers are reminded that we consider that the issuer has disclosed the results of

a PEA, or similar type of economic analysis, when the disclosure includes information such as forecast mine production rates that might contain capital costs to develop and sustain the mining operation, operating costs, and projected cash flows.

11

8. Conclusions We expect mining issuers to use this notice to strengthen their compliance with securities legislation and improve their disclosure to investors. Having the QP review technical disclosure in investor presentations and other website disclosure is an important step in improving compliance with NI 43-101. We will continue the review of mining issuers’ website disclosure as part of our overall continuous disclosure review program. When we identify material disclosure deficiencies, we will request that the issuer correct the deficiency by amending or removing the website disclosure and filing a clarifying or retracting news release. We may place the issuer on the reporting issuer default list and where the issuer fails to comply with the requests we may consider issuing a cease trade order until the issuer corrects the deficiency. If an issuer is considering a prospectus offering, the review of the prospectus filing will likely be deferred if issues such as those noted above are present. For further guidance on this issue, please see CSA Staff Notice 51-312 Harmonized Continuous Disclosure Review Program and CSA Notice 51-322 Reporting Issuer Defaults.

12

Questions Please refer your questions to any of the following people: Chris Collins Chief Mining Advisor, Corporate Finance British Columbia Securities Commission 604-899-6616 Toll-free 800-373-6393 [email protected]

Ian McCartney Senior Geologist, Corporate Finance British Columbia Securities Commission 604-899-6519 Toll-free 800-373-6393 [email protected]

Darin Wasylik Senior Geologist, Corporate Finance British Columbia Securities Commission 604 899-6517 Toll-free 800-373-6393 [email protected] Craig Waldie Senior Geologist, Corporate Finance Ontario Securities Commission 416-593-8308 Toll-free 877-785-1555 [email protected]

James Whyte Senior Geologist, Corporate Finance Ontario Securities Commission 416-593-2168 Toll-free 877-785-1555 [email protected]

Luc Arsenault Géologue Autorité des marchés financiers 514-395-0337, ext. 4373 Toll-free 877-525-0337, ext. 4373 [email protected]

André Laferrière Géologue Autorité des marchés financiers 514-395-0337 ext. 4374 Toll-free 877-525-0337 ext. 4374 [email protected]

13

Appendix AResults of 130 Investor Presentation Reviews

The following chart provides a summary of the 130 investor presentations reviewed and the percentage of non-compliance compared to particular disclosure requirements in NI 43-101. The non-compliance percentage is relative to the number of occurrences of the particular disclosure (population size).Disclosure requirements are grouped and colour-coded by type of disclosure, such as Economic studies.

58%

56%

50%

37%

21%

13%

4%

6%

79%

5%

4%

60%

50%

30%

25%

25%

25%

14%

12%

12%

9%

64%

71%

67%

42%

38%

16%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Naming the QP (130)

PEA caution (34)

Resources are not reserves (56)

Taxes (56)

Balanced sensitivity (24)

Percentage interest (56)

Metal price assumption (56)

Technical report trigger (81)

Exploration targets (14)

Gross metal value (130)

Restricted economics (56)

Historical estimates (30)

Resources include reserves (22)

Metal price assumption (81)

Effective date (81)

Cut-off grade (81)

Metal equivalent (24)

Inferred not added (81)

Tonnes and grade (81)

Contained metal (81)

CIM categories (81)

Data verification (130)

Naming the laboratory (86)

QA/QC measures (86)

Higher grade intervals (70)

True widths of zones (70)

Drill hole information (70)

Percentage of Non-compliance

NI 4

3-10

1 D

isclo

sure

Req

uire

men

t (p

opu

latio

n siz

e)

Exploration information

Naming the QP

Economic studies

Restricted disclosure

Technical report trigger

Data verification

Mineral resources & mineral reserves

Historical estimates

14

Appendix B Review Measures in Appendix A with Reference to Provisions of NI 43-101

Note: Review measures below are grouped and listed in the same order as the results in Appendix A. Naming the QP s. 3.1 requires issuers to name the QP responsible for the technical disclosure

and their relationship to the issuer

Economic studies PEA caution ss. 2.3(3) requires disclosure of a PEA that includes inferred mineral resources

provide the mandatory cautionary statements

Resources are not reserves para. 3.4(e) requires a statement that mineral resources that are not mineral reserves do not have demonstrated economic viability if results of an economic analysis of mineral resources is provided

Taxes Item 22(d) of Form 43-101F1 requires a summary of taxes applicable to the mineral project

Balanced sensitivity s. 3.5 of 43-101CP states that disclosure must be factual, complete, and balanced and not present or omit information in a manner that is misleading - such as an unbalanced sensitivity analysis

Percentage interest s. 3.5 of 43-101CP states that disclosure must be factual, complete, and balanced and not present or omit information in a manner that is misleading - such as not stating that the issuer only holds a minor percentage interest in a mineral project

Metal price assumption Item 22(a) of Form 43-101F1 requires a clear statement of the principal assumptions used in an economic analysis - such as assumed metal price

Technical report trigger para. 4.2(1)(j) requires that first time written disclosure of mineral resources, mineral reserves or the results of a PEA, or a change to any of these that is a material change to the issuer, must be supported by a technical report

Restricted disclosure Exploration targets ss. 2.3(2) permits disclosure of exploration targets expressed as ranges of

potential quantity and grade and subject to the inclusion of mandatory cautionary statements and other information

Gross metal value para. 2.3(1)(c) prohibits issuers from disclosing gross value of metal or mineral in a deposit or sampled interval

Restricted economics para. 2.3(1)(b) prohibits the disclosure of economic analysis using inferred mineral resources (except as allowed in a PEA), historical estimates, or exploration targets

Historical estimates s. 2.4 requires specific information and mandatory cautionary statements when disclosing historical estimates

Mineral resources & mineral reserves

Resources include reserves para. 2.2(b) requires a statement whether mineral reserves are included in mineral resources

15

Metal price assumption para. 3.4(c) requires disclosure of key assumptions (such as assumed metal price) used to determine the mineral resources and mineral reserves

Metal equivalent para. 2.3(1)(d) requires that disclosure of a metal equivalent grade also state the grade of each metal used to establish the metal equivalent grade

Effective date para. 3.4(a) requires that the effective date of a mineral resource and mineral reserve be disclosed if the mineral estimate is reported

Cut-off grade para. 3.4(c) requires disclosure of key assumptions (such as cut-off grade) used to determine the mineral resources and mineral reserves

Inferred not added para. 2.2(c) prohibits the addition of inferred resources to other categories of mineral resources

Tonnes and grade para. 3.4(b) requires the quantity and grade of each category of mineral resources and mineral reserves be disclosed

Contained metal para. 2.2 (d) requires that disclosure of contained metal also state the grade and quantity for each category of mineral resources and mineral reserves

CIM categories para. 2.2(a) requires the use of only accepted mineral resource and mineral reserve categories as prescribed by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM)

Data verification s. 3.2 requires issuers to include a statement whether a QP has verified the data disclosed, how it was verified and reasons for any failure to verify

Exploration information Name of laboratory para. 3.3(2)(f) requires disclosure of the name and location of the testing

laboratory used and any relationship to the issuer

QA/QC measures para. 3.3(1)(c) requires disclosure of a summary of the quality assurance program and quality control measures applied

Higher grade intervals para. 3.3(2)(d) requires disclosure of any significantly higher grade intervals forming part of a lower grade intersection

True widths of zones para. 3.3(2)(c) requires disclosure of true widths of mineralized zones, to the extent known

Drill hole information para. 3.3(2)(b) requires disclosure of drilling information to include the location, azimuth and dip of the drill holes and the sample interval depth


April 9, 2015

(2015), 38 OSCB 3307

1.1.2 OSC Staff Notice 11-739 (Revised) – Policy Reformulation Table of Concordance and List of New Instruments

OSC STAFF NOTICE 11-739 (REVISED)

POLICY REFORMULATION TABLE OF CONCORDANCE AND LIST OF NEW INSTRUMENTS April 9, 2015 The following revisions have been made to the Table of Concordance and List of New Instruments. A full version of the Table of Concordance and List of New Instruments as of March 31, 2015 has been posted to the OSC Website at www.osc.gov.on.ca. Table of Concordance

Item Key

The third digit of each instrument represents the following: 1-National/Multilateral Instrument; 2-National/Multilateral Policy; 3-CSA Notice; 4-CSA Concept Release; 5-Local Rule; 6-Local Policy; 7-Local Notice; 8-Implementing Instrument; 9-Miscellaneous

Reformulation

Instrument Title Status

None

New Instruments


31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations – Amendments

Minister’s approval published January 15, 2015

33-109 Registration Information – Amendments Minister’s approval published January 15, 2015

52-107 Acceptable Accounting Principles and Auditing Standards – Amendments


23-102 Use of Client Brokerage Commissions – Amendments Minister’s approval published January 15, 2015

24-101 Institutional Trade Matching and Settlement – Amendments Minister’s approval published January 15, 2015

81-107 Independent Review Committee for Investment Funds – Amendments


45-501CP Companion Policy 45-501CP – Ontario Prospectus and Registration Exemptions - Amendments


91-501 Strip Bonds – Amendments Minister’s approval published January 15, 2015

91-502 Trades in Recognized Options – Amendments Minister’s approval published January 15, 2015

33-506 (Commodity Futures Act) Registration Information – Amendments


35-502 Non-Resident Advisers – Amendments Minister’s approval published January 15, 2015

44-305 2015 Update – Structured Notes Distributed Under the Shelf Prospectus System

Published January 22, 2015


April 9, 2015

(2015), 38 OSCB 3308

New Instruments


13-705 Reduced Late Fee for Certain Outside Business Activities Filings


11-739 Policy Reformulation – Table of Concordance and List of New Instruments (Revised)


81-325 Status Report on Consultation under CSA Notice 81-324 and Request for Comment on Proposed CSA Mutual Fund Risk Classification Methodology for Use in Fund Facts


54-303 Progress Report on Review of the Proxy Voting Infrastructure Published January 29, 2015

92-401 Derivatives Trading Facilities Published for comment on January 29, 2015

51-724 Report on Staff’s Review of REIT Distributions Disclosure Published January 29, 2015

11-312 National Numbering System (Revised) Published January 29, 2015

51-723 Report on Staff’s Review of Related Party Transaction Disclosure and Guidance


13-502 Fees – Revocation and Replacement Commission approval published February 5, 2015

13-503 (Commodity Futures Act) Fees – Revocation and Replacement

Commission approval published February 5, 2015

45-501 Ontario Prospectus and Registration Exemptions – Amendments

Ministerial approval of amendments published February 5, 2015

45-102 Resale of Securities – Amendments Ministerial approval of amendments published February 5, 2015

15-401 Proposed Framework for an OSC Whistleblower Program Published for comment February 5, 2015

81-326 Update on an Alternative Funds Framework for Investment Funds

Published February 12, 2015

81-101 Mutual Fund Prospectus Disclosure – Amendments Minister’s approval published February 12, 2015

91-506 Derivatives: Product Determination – Amendments Commission approval published February 12, 2015

91-507 Trade Repositories and Derivatives Data Reporting – Amendments


94-101 Mandatory Central Counterparty Clearing of Derivatives Published for comment on February 12, 2015

45-106 Prospectus and Registration Exemptions – Amendments Commission approval published February 19, 2015

45-102 Resale of Securities – Amendments Commission approval published February 19, 2015

45-501 Ontario Prospectus and Registration Exemptions – Amendments


13-102 System Fees for SEDAR and NRD – Amendments Commission approval published February 19, 2015

31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations – Amendments (includes amendments to 31-103CP)



April 9, 2015

(2015), 38 OSCB 3309

New Instruments


32-102 Registration Exemptions for Non-Resident Investment Fund Managers – Amendments


33-105 Underwriting Conflicts – Amendments Commission approval published February 19, 2015

41-101 General Prospectus Requirements – Amendments Commission approval published February 19, 2015

45-102 Resale of Securities – Amendments (includes amendments to 45-102CP)


51-102 Continuous Disclosure Obligations – Amendments Commission approval published February 19, 2015

52-107 Acceptable Accounting Principles and Auditing Standards – Amendments


62-103 Early Warning System and Related Take-Over Bid and Reporting Issues – Amendments


62-104 Take-Over Bids and Issuer Bids – Amendments Commission approval published February 19, 2015

11-203 Process for Exemptive Relief Applications in Multiple Jurisdictions – Amendments


23-103CP Electronic Trading and Direct Electronic Access to Marketplaces –Amendments


81-726 2014 Summary Report for Investment Fund and Structured Product Issuers


51-342 Staff Review of Issuers Entering into Medical Marijuana Business Opportunities


51-101 Standards of Disclosure for Oil and Gas Activities – Amendments

Ministerial approval published March 5, 2015

11-328 Notice of Local Amendments in Alberta and the Adoption of Multilateral Amendments in Yukon

Published March 12, 2015

31-340 OBSI Joint Regulators Committee Annual Report for 2014 Published March 19, 2015

For further information, contact: Darlene Watson Project Specialist Ontario Securities Commission 416-593-8148


April 9, 2015

(2015), 38 OSCB 3310

1.1.3 Notice of Ministerial Approval of the Revocation and Replacement of OSC Rule 13-502 Fees and OSC Rule 13-503 (Commodity Futures Act) Fees

On March 19, 2015, the Minister of Finance approved the revocation and replacement of OSC Rule 13-502 Fees and OSC Rule 13-503 (Commodity Futures Act) Fees made by the Ontario Securities Commission. The material approved by the Minister was published in the February 5, 2015 Bulletin after having been made by the Commission on January 27, 2015. An earlier version of the material was published for comment on September 18, 2014. The revocation and replacement of these OSC Rules came into force on April 6, 2015. The text of the approved amendments will be published in Chapter 5 of the April 16, 2015 Bulletin and on the OSC website at www.osc.gov.on.ca and are unchanged from the versions published in the February 5, 2015 Bulletin.


April 9, 2015

(2015), 38 OSCB 3311

1.2 Notices of Hearing 1.2.1 Future Solar Developments Inc. et al. – ss. 127, 127.1

IN THE MATTER OF THE SECURITIES ACT,

R.S.O. 1990, c. S.5, AS AMENDED

AND

IN THE MATTER OF FUTURE SOLAR DEVELOPMENTS INC., CENITH ENERGY CORPORATION, CENITH AIR INC.,

ANGEL IMMIGRATION INC. and XUNDONG QIN also known as SAM QIN

NOTICE OF HEARING

(Sections 127 and 127.1 of the Securities Act) TAKE NOTICE that the Ontario Securities Commission (the “Commission”) will hold a hearing pursuant to sections 127 and 127.1 of the Securities Act, R.S.O., c. S.5, as amended (the “Act”), at the offices of the Commission located at 20 Queen Street West, 17th Floor, Toronto, Ontario commencing on April 15, 2015, at 11:30 a.m. or as soon thereafter as the hearing can be held; AND TAKE NOTICE that the purpose of the hearing is for the Commission to consider whether, in the Commission’s opinion, it is in the public interest for the Commission to make the following orders:

(a) pursuant to paragraph 2 of subsection 127(1) of the Act, that trading in any securities or derivatives by Future Solar Developments Inc. (“FSD”), Cenith Energy Corporation (“Cenith Energy”), Cenith Air Inc. (“Cenith Air”), Angel Immigration Inc. (“Angel Immigration”) and Xundong Qin (also known as Sam Qin) (“Qin”) (collectively, the “Respondents”) cease permanently or for such period as is specified by the Commission;

(b) pursuant to paragraph 2.1 of subsection 127(1) of the Act, that the acquisition of any securities by the

Respondents is prohibited permanently or for such period as is specified by the Commission; (c) pursuant to paragraph 3 of subsection 127(1) of the Act, that any exemptions contained in Ontario securities

law do not apply to the Respondents permanently or for such period as is specified by the Commission; (d) pursuant to paragraph 6 of subsection 127(1) of the Act, that the Respondents be reprimanded; (e) pursuant to paragraphs 7, 8.1 and 8.3 of subsection 127(1) of the Act, that Qin resign one or more positions

that he holds as a director or officer of any issuer, registrant, or investment fund manager; (f) pursuant to paragraphs 8, 8.2 and 8.4 of subsection 127(1) of the Act, that Qin be prohibited from becoming or

acting as a director or officer of any issuer, registrant, or investment fund manager, permanently or for such period as is specified by the Commission;

(g) pursuant to paragraph 8.5 of subsection 127(1) of the Act, that the Respondents be prohibited from becoming

or acting as a registrant, as an investment fund manager, or as a promoter, permanently or for such period as is specified by the Commission;

(h) pursuant to paragraph 9 of subsection 127(1) of the Act, that each Respondent pay an administrative penalty

of not more than $1 million for each failure by the respective Respondent to comply with Ontario securities law;

(i) pursuant to paragraph 10 of subsection 127(1) of the Act, that each Respondent disgorge to the Commission

any amounts obtained as a result of non-compliance by that Respondent with Ontario securities law; (j) pursuant to section 127.1 of the Act, that the Respondents be ordered to pay the costs of the Commission

investigation and the hearing; and/or (k) such other order as the Commission considers appropriate in the public interest.


April 9, 2015

(2015), 38 OSCB 3312

BY REASON OF the allegations set out in the Statement of Allegations of Staff of the Commission, dated March 26, 2015, and such further allegations as counsel may advise and the Commission may permit; AND TAKE FURTHER NOTICE that any party to the proceeding may be represented by counsel at the hearing; AND TAKE FURTHER NOTICE that upon failure of any party to attend at the time and place stated above, the hearing may proceed in the absence of that party, and such party is not entitled to any further notice of the proceedings; AND TAKE FURTHER NOTICE that the Notice of Hearing is also available in French, participation may be in either French or English and participants must notify the Secretary’s Office in writing as soon as possible, and in any event, at least thirty (30) days before a hearing if the participant is requesting a proceeding to be conducted wholly or partly in French; and ET AVIS EST ÉGALEMENT DONNÉ PAR LA PRÉSENTE que l'avis d'audience est disponible en français, que la participation à l'audience peut se faire en français ou en anglais et que les participants doivent aviser le Bureau du secrétaire par écrit le plut tôt possible et, dans tous les cas, au moins trente (30) jours avant l'audience si le participant demande qu'une instance soit tenue entièrement ou partiellement en français. DATED at Toronto, this 26th day of March, 2015 “Josée Turcotte” Secretary to the Commission


April 9, 2015

(2015), 38 OSCB 3313



AND

IN THE MATTER OF FUTURE SOLAR DEVELOPMENTS INC., CENITH ENERGY CORPORATION, CENITH AIR INC.,

ANGEL IMMIGRATION INC. and XUNDONG QIN also known as SAM QIN

STATEMENT OF ALLEGATIONS OF

STAFF OF THE ONTARIO SECURITIES COMMISSION Staff of the Ontario Securities Commission (“Staff”) make the following allegations: A. Overview 1. During the period from May 2012 until August 2014, (the “Material Time”), Future Solar Developments Inc. (“FSD”),

Cenith Energy Corporation (“Cenith Energy”), Cenith Air Inc. (“Cenith Air”), Angel Immigration Inc. (“Angel Immigration”) (collectively, the “Corporate Respondents”) and Xundong Qin (also known as Sam Qin) (“Qin”) (collectively, the “Respondents”): (i) traded in securities without being registered, contrary to subsection 25(1) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”), (ii) illegally distributed securities, contrary to subsection 53(1) of the Act, and/or (iii) acted in a manner that was contrary to the public interest.

2. During the Material Time, Qin was an Ontario resident. Further, all of the Corporate Respondents were Ontario

corporations with the same registered corporate address in Toronto, Ontario. 3. The Respondents raised approximately $6.6 million by selling securities of FSD to eleven (11) individuals resident in

the People’s Republic of China (the “OPNP Investors”). The investments at issue are linked or are stated by FSD to be linked to the Opportunities Ontario Provincial Nominee Program (the “OPNP”) in which FSD investors could qualify for permanent resident status in Canada through the investor stream of the OPNP.

B. The Respondents 4. FSD was incorporated in Ontario on May 3, 2011 with a registered address in Toronto, Ontario. Qin is a director of

FSD. During the Material Time, FSD was not a reporting issuer in Ontario, did not file a preliminary prospectus and prospectus, and did not file any reports of exempt distributions. During the Material Time, FSD was not registered with the Ontario Securities Commission (the “Commission”) in any capacity.

5. Cenith Energy was incorporated in Ontario on August 28, 2002 with a registered address in Toronto, Ontario. Qin is the

president and director of Cenith Energy. During the Material Time, Cenith Energy was not registered with the Commission in any capacity.

6. Cenith Air was incorporated in Ontario on January 20, 2014 with a registered address in Toronto, Ontario. Qin is the

sole director of Cenith Air. During the Material Time, Cenith Air was not registered with the Commission in any capacity. 7. Angel Immigration was incorporated in Ontario on March 7, 2014 with a registered address in Toronto, Ontario. Qin is

the sole director of Angel Immigration. During the Material Time, Angel Immigration was not registered with the Commission in any capacity.

8. During the Material Time, Qin was a resident of Ontario and a director and/or officer and the directing mind of all of the

Corporate Respondents. Further, Qin was not registered with the Commission in any capacity. C. Unregistered Trading and Illegal Distribution 9. The Respondents have accepted funds, directly or indirectly, from investors resident in the People’s Republic of China

for shares of FSD. These investments are linked or are stated by FSD to be linked to the OPNP, offered through the Ontario Ministry of Citizenship, Immigration and International Trade (“MCII”), which allows individuals to be nominated by the Ontario government to obtain permanent resident status in Canada through the investor stream of the OPNP.

10. Prior to their investment in FSD, investors were provided with a Subscription Agreement for Class B Preference

Shares.


April 9, 2015

(2015), 38 OSCB 3314

11. After investing with FSD, the OPNP Investors were provided with a letter confirming their investment and a certificate for Class B Preference Shares issued by FSD. The investment in FSD was a “security” as defined in subsection 1(1) of the Act.

12. According to documentation provided to investors and the MCII, the investments from the OPNP Investors were to be

used by FSD to “support the company’s planned expansion in the clean energy sector” with activities centred on (1) FSD’s participation in the Ontario Power Authority’s Feed-in-Tariff Program and (2) the design, manufacture, sale, installation and maintenance of custom LED lighting products and services.

13. As a result of the Respondents’ conduct described above, approximately $6.6 million was raised from eleven (11)

OPNP Investors and deposited, directly or indirectly, into Ontario-based bank accounts held in the names of the Corporate Respondents.

14. By engaging in the conduct described above, the Respondents traded and engaged in, or held themselves out as

engaging in, the business of trading in securities and participated in acts, solicitations, conduct, or negotiations directly or indirectly in furtherance of the sale or disposition of securities not previously issued for valuable consideration, in circumstances where there were no exemptions available to the Respondents under the Act, contrary to sections 25 and 53 of the Act and/or contrary to the public interest.

D. Breaches of Ontario Securities Law and/or Conduct Contrary to the Public Interest 15. The specific allegations advanced by Staff are:

(a) During the Material Time, the Respondents traded and engaged in or held themselves out as engaging in the business of trading in securities without being registered to do so, in circumstances where there were no exemptions available to the Respondents under the Act, contrary to subsection 25(1) of the Act;

(b) During the Material Time, the trading of FSD securities as set out above constituted a distribution of securities

by the Respondents in circumstances where no preliminary prospectus and prospectus were filed and receipts had not been issued for them by the Director, and where there were no exemptions available to the Respondents under the Act, contrary to subsection 53(1) of the Act; and

(c) During the Material Time, Qin as a director or officer of the Corporate Respondents authorized, permitted or

acquiesced in the Corporate Respondents’ non-compliance with Ontario securities law and as a result is deemed to also have not complied with Ontario securities law pursuant to section 129.2 of the Act.

16. By reason of the foregoing, the Respondents violated the requirements of Ontario securities law and/or engaged in

conduct contrary to the public interest such that it is in the public interest to make orders under section 127 of the Act. 17. Staff reserve the right to make such other allegations as Staff may advise and the Commission may permit. DATED at Toronto, March 26, 2015.


April 9, 2015

(2015), 38 OSCB 3315

1.2.2 Edward Furtak et al. – ss. 127 and 127.1



AND

IN THE MATTER OF EDWARD FURTAK, AXTON 2010 FINANCE CORP., STRICT TRADING LIMITED,

RONALD OLSTHOORN, TRAFALGAR ASSOCIATES LIMITED, LORNE ALLEN and STRICTRADE MARKETING INC.

NOTICE OF HEARING

(Sections 127 and 127.1) TAKE NOTICE THAT the Ontario Securities Commission (the “Commission”) will hold a hearing pursuant to sections 127 and 127.1 of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”) at the offices of the Commission at 20 Queen Street West, 17th Floor, in the City of Toronto, commencing on Monday, April 27th, 2015 at 9:30 a.m., or as soon thereafter as the hearing can be held; AND TAKE NOTICE that the purpose of the hearing is for the Commission to consider whether, in the Commission’s opinion, it is in the public interest for the Commission to make the following orders:

a. pursuant to paragraph 1 of subsection 127(1) of the Act, that the registration of each of Ronald Olsthoorn (“Olsthoorn”) and Trafalgar Associates Limited (“TAL”) be suspended or restricted for such period as is specified by the Commission, or be terminated, or that terms and conditions be imposed on the registration;

b. pursuant to paragraph 2 of subsection 127(1) of the Act, that trading in securities of each of Axton 2010

Finance Corp. (“Axton”) and Strict Trading Limited (“STL”), whether direct or indirect, cease permanently or for such period as is specified by the Commission;

c. pursuant to paragraph 2 of subsection 127(1) of the Act, that trading in any securities by Edward Furtak

(“Furtak”), Axton, STL, Olsthoorn, TAL, Lorne Allen (“Allen”) and Strictrade Marketing Inc. (“SMI”) (collectively, the “Respondents”) cease permanently or for such period as is specified by the Commission;

d. pursuant to paragraph 2.1 of subsection 127(1) of the Act, that the acquisition of any securities by each of the

Respondents is prohibited permanently or for such other period as is specified by the Commission; e. pursuant to paragraph 3 of subsection 127(1) of the Act, that any exemptions contained in Ontario securities

law do not apply to each of the Respondents permanently or for such period as is specified by the Commission;

f. pursuant to paragraph 6 of subsection 127(1) of the Act, that each of the Respondents be reprimanded; g. pursuant to paragraphs 7, 8.1 and 8.3 of subsection 127(1) of the Act, that each of Furtak, Olsthoorn and

Allen (collectively, the “Individual Respondents”) resign one or more positions that they hold as a director or officer of any issuer, registrant, and/or investment fund manager;

h. pursuant to paragraphs 8, 8.2 and 8.4 of subsection 127(1) of the Act, that each of the Individual Respondents

be prohibited from becoming or acting as a director or officer of any issuer, registrant, and/or investment fund manager permanently or for such other period as is specified by the Commission;

i. pursuant to paragraph 8.5 of subsection 127(1) of the Act, that each of the Respondents be prohibited from

becoming or acting as a registrant, an investment fund manager and/or as a promoter permanently or for such other period as is specified by the Commission;

j. pursuant to clause 9 of subsection 127(1) of the Act, that each of the Respondents pay an administrative

penalty of not more than $1 million for each failure by that Respondent to comply with Ontario securities law; k. pursuant to clause 10 of subsection 127(1) of the Act, that each of the Respondents disgorge to the

Commission any amounts obtained as a result of non-compliance by that Respondent with Ontario securities law;


April 9, 2015

(2015), 38 OSCB 3316

l. pursuant to section 127.1 of the Act, that the Respondents be ordered to pay the costs of the Commission investigation and the hearing; and

m. such other order as the Commission considers appropriate in the public interest.

BY REASON OF the allegations as set out in the Statement of Allegations of Staff of the Commission dated March 30, 2015 and such further additional allegations as counsel may advise and the Commission may permit; AND TAKE FURTHER NOTICE that any party to the proceeding may be represented by counsel at the hearing; AND TAKE FURTHER NOTICE that upon failure of any party to attend at the time and place stated above, the hearing may proceed in the absence of that party, and such party is not entitled to further notice of the proceeding. AND TAKE FURTHER NOTICE that the Notice of Hearing is also available in French, participation may be in either French or English and participants must notify the Secretary’s Office in writing as soon as possible, and in any event, at least thirty (30) days before a hearing if the participant is requesting a proceeding to be conducted wholly or partly in French; and ET AVIS EST ÉGALEMENT DONNÉ PAR LA PRÉSENTE que l'avis d'audience est disponible en français, que la participation à l'audience peut se faire en français ou en anglais et que les participants doivent aviser le Bureau du secrétaire par écrit le plut tôt possible et, dans tous les cas, au moins trente (30) jours avant l'audience si le participant demande qu'une instance soit tenue entièrement ou partiellement en français. DATED at Toronto this 30th day of March, 2015 “Josée Turcotte” Secretary to the Commission


April 9, 2015

(2015), 38 OSCB 3317



AND

IN THE MATTER OF EDWARD FURTAK, AXTON 2010 FINANCE CORP., STRICT TRADING LIMITED,

RONALD OLSTHOORN, TRAFALGAR ASSOCIATES LIMITED, LORNE ALLEN and STRICTRADE MARKETING INC.


STAFF OF THE ONTARIO SECURITIES COMMISSION Staff of the Ontario Securities Commission (“Staff”) make the following allegations: A. Overview 1. This proceeding relates to the trading in and distribution of securities in breach of the Securities Act, R.S.O. 1990, c.

S.5, as amended (the “Act”) by Edward Furtak (“Furtak”), Axton 2010 Finance Corp. (“Axton”), Strict Trading Limited (“STL”), Ronald Olsthoorn (“Olsthoorn”), Trafalgar Associates Limited (“TAL”), Lorne Allen (“Allen”) and Strictrade Marketing Inc. (“SMI”) (collectively, the “Respondents”).

2. The securities at issue were comprised of a series of contractual arrangements regarding licenses for trading software

(the “Strictrade Offering”). The Respondents were involved in promoting and selling the Strictrade Offering during the period January 2012 to July 2014 (the “Material Time”). The Strictrade Offering is a “security” as defined in clause (n) of subsection 1(1) of the Act.

3. During the Material Time, the Respondents’ conduct in respect of the Strictrade Offering violated Ontario securities

laws as follows: (a) the Respondents engaged in illegal distributions of the Strictrade Offering, contrary to subsection 53(1) of the

Act; (b) Allen, SMI, Furtak, Axton and STL engaged in, or held themselves out as engaging in, trading in securities

without registration, contrary to subsection 25(1) of the Act; (c) Furtak and STL made misleading statements in contracts entered into with investors, contrary to subsection

44(2) of the Act; and (d) as registrants, TAL and Olsthoorn violated several provisions of National Instrument 31-103 – Registration

Requirements, Exemptions and Ongoing Registrant Obligations (“NI 31-103”). B. The Respondents 4. SMI was incorporated in Canada on January 1, 2012. Allen is the sole officer, director and shareholder of SMI. Neither

SMI nor Allen was registered with the Ontario Securities Commission (the “Commission”) during the Material Time. 5. TAL was incorporated in Ontario on February 24, 1994. TAL has been registered as an Exempt Market Dealer (“EMD”)

in Ontario since August 19, 2011, and in Alberta, British Columbia, Manitoba and Saskatchewan since June 12, 2014. 6. Olsthoorn is the sole officer and director of TAL and owns 50% of TAL’s shares. Olsthoorn has been registered as a

Dealing Representative, Chief Compliance Officer (“CCO”) and Ultimate Designated Person (“UDP”) of TAL in Ontario since August 19, 2011, and in Alberta, British Columbia, Manitoba and Saskatchewan since June 12, 2014.

7. Axton was incorporated in the British Virgin Islands on May 26, 2010. Axton owns the STRICT trading software (the

“Software”) that is at the centre of the Strictrade Offering. Axton was not registered with the Commission during the Material Time.

8. STL was incorporated in the British Virgin Islands on June 5, 2012. STL hosts and operates the Software. STL was not

registered with the Commission during the Material Time.


April 9, 2015

(2015), 38 OSCB 3318

9. Furtak is the founder, beneficial owner and an officer and director of Axton and STL. Furtak indirectly owns 50% of the shares of TAL and is designated as a permitted individual (shareholder) with TAL. Furtak was not registered with the Commission during the Material Time.

C. Background to Allegations The Strictrade Offering 10. The Strictrade Offering involved a series of contracts which, taken together, constituted a security within the meaning of

clause (n) in subsection 1(1) of the Act. 11. Pursuant to these contracts, investors:

• obtained licenses for the Software (“Software Licenses”) from Axton; • obtained financing for 100% of the purchase of the Software Licenses from Axton; and • sold trading instructions generated by the Software (“Trading Instructions”) to STL in return for payments

(“Trading Report Payments”). 12. During the Material Time, eight individuals invested in the Strictrade Offering. Collectively, these investors paid

approximately $385,000 in interest and fees to Axton and STL; borrowed approximately $1,200,000 from Axton to finance their purchases of the Software Licenses; and received approximately $130,250 in Trading Report Payments due from STL.

13. Investors’ return on their investment in the Strictrade Offering included the Trading Report Payments from STL, a

potential software performance bonus from STL, and the ability to claim certain deductions from their income taxes related to the Software Licenses.

14. None of the investors who invested in the Strictrade Offering took possession of the Software. Rather, investors simply

entered into the contractual arrangements described above, made payments of interest and fees pursuant to the agreements, and filed their tax returns.

15. The Strictrade Offering had not been previously issued and no prospectus was filed for the Strictrade Offering. D. The Respondents’ Conduct in Respect of the Strictrade Offering Conduct of SMI and Allen 16. During the Material Time, SMI and Allen marketed the Strictrade Offering to potential investors and distributors, giving

more than 60 presentations to individuals during one-on-one meetings and to groups at educational seminars. 17. SMI and Allen dealt directly with investors who participated in the Strictrade Offering. Allen sold the Strictrade Offering

to some investors, had meetings with them and was present when they signed the contracts for the Strictrade Offering. 18. SMI and Allen received compensation in the form of commissions and/or other payments for their participation in the

Strictrade Offering. 19. SMI also engaged TAL and Olsthoorn to market the Strictrade Offering and agreed to pay Olsthoorn 3% of any of

SMI’s sales of Software Licenses. 20. SMI and Allen engaged in, or held themselves out as engaging in, the business of trading in securities without

registration contrary to subsection 25(1) of the Act. SMI and Allen also distributed the Strictrade Offering without a prospectus, contrary to subsection 53(1) of the Act.

Conduct of TAL and Olsthoorn 21. During the Material Time, Olsthoorn and TAL marketed the Strictrade Offering, giving approximately 29 marketing

presentations to potential investors and distributors in Ontario, Manitoba, British Columbia, Saskatchewan and the United States.


April 9, 2015

(2015), 38 OSCB 3319

22. Olsthoorn and TAL dealt directly with investors who participated in the Strictrade Offering. Olsthoorn and TAL sold the Strictrade Offering to some investors and served as their main point of contact in respect of their investment in the Strictrade Offering.

23. Olsthoorn and TAL distributed the Strictrade Offering without a prospectus, contrary to subsection 53(1) of the Act. 24. Further, as registrants, Olsthoorn and TAL failed to meet their Know Your Product (“KYP”), Know Your Client (“KYC”)

and suitability obligations under sections 3.4, 13.2 and 13.3 of NI 31-103, as they:

(a) told potential investors that the Strictrade Offering did not require dealer registration under securities legislation; and

(b) failed to take reasonable steps to determine if the Strictrade Offering was suitable for investors.

25. Given that Olsthoorn and TAL failed to meet their KYP, KYC and suitability obligations under NI 31-103 and engaged in

illegal distributions, Olsthoorn failed to fulfil his obligations as UDP and CCO of TAL to ensure, promote and monitor compliance with securities legislation by TAL and individuals acting on its behalf under sections 5.1 and 5.2 of NI 31-103.

Conduct of Furtak, Axton and STL 26. Furtak created the Software. The Strictrade Offering was Furtak’s idea and he was involved in all contractual

arrangements with respect to the Strictrade Offering. 27. Axton indirectly solicited potential investors and distributors for the Strictrade Offering by entering into an agreement

with SMI and agreeing to pay SMI a commission of 28% of all first-year prepaid interest, loan maintenance fees and service fees paid by investors.

28. Axton entered into contracts with all of the investors for the purchase of the Software Licenses. Axton also entered into

contracts with all of the investors to finance their purchases of the Software Licenses. Axton received funds from the investors in the form of prepaid interest and loan maintenance fees pursuant to these contracts. Each of these contracts was an integral part of the Strictrade Offering.

29. STL entered into contracts with all of the investors under which the investors sold Trading Instructions generated by the

Software to STL in return for Trading Report Payments. Under the contracts with STL, investors had to pay STL a service fee for hosting and operating the Software. The contracts with STL were also an integral part of the Strictrade Offering.

30. Furtak arranged for SMI to solicit potential investors and distributors for the Strictrade Offering. Furtak signed all

contracts entered into between Axton and investors. Furtak also signed all contracts entered into between STL and investors.

31. Furtak set up the Axton and STL bank accounts and the STL trading account. Furtak directed the payment of

commissions to SMI and the payment of Trading Report Payments that were due to investors from STL. 32. Furtak, Axton and STL engaged in, or held themselves out as engaging in, the business of trading in securities without

registration contrary to subsection 25(1) of the Act. Furtak, Axton and STL also distributed the Strictrade Offering without a prospectus, contrary to subsection 53(1) of the Act.

33. Further, in contracts between investors and STL that were executed by Furtak between June and December 2012, STL

and Furtak represented that STL was purchasing Trading Instructions from investors for the purpose of trading for its own account and that it would commence trading on the date of the contracts. This representation was misleading. Furtak was aware that no brokerage account was opened for STL until November 1, 2013, nor did STL commence any trading until that date.

34. By representing that STL was purchasing Trading Instructions from investors for the purpose of trading and that STL

would commence trading on the date of the contracts, Furtak and STL made statements that a reasonable investor would consider relevant in deciding whether to enter into or maintain a trading or advising relationship, which statements were untrue or omitted information necessary to prevent the statements from being false or misleading in the circumstances in which they were made, contrary to subsection 44(2) of the Act.


April 9, 2015

(2015), 38 OSCB 3320

E. Breaches of Ontario Securities Law and Conduct Contrary to the Public Interest 35. Staff alleges that:

(a) Allen, SMI, Furtak, Axton and STL engaged in, or held themselves out as engaging in, the business of trading in securities without registration contrary to subsection 25(1) of the Act;

(b) all of the Respondents distributed securities when a preliminary prospectus and a prospectus had not been

filed and a receipt had not been issued by the Director, contrary to subsection 53(1) of the Act; (c) Furtak and STL made statements that a reasonable investor would consider relevant in deciding whether to

enter into or maintain a trading or advising relationship, which statements were untrue or omitted information necessary to prevent the statements from being false or misleading in the circumstances in which they were made, contrary to subsection 44(2) of the Act;

(d) Olsthoorn and TAL:

i. failed to discharge their KYP obligation in respect of the Strictrade Offering and therefore breached

their suitability obligations under sections 3.4 and 13.3 of NI 31-103; and ii. failed to take reasonable steps to collect sufficient information to determine whether the Strictrade

Offering was suitable for investors, breaching their KYC and suitability obligations under sections 13.2 and 13.3 of NI 31-103;

(e) Olsthoorn, as CCO and UDP of TAL:

i. failed to fulfil his obligations as UDP to supervise the activities of TAL in order to ensure compliance

with securities legislation by TAL and individuals acting on its behalf, and to promote compliance with securities legislation, contrary to section 5.1 of NI 31-103; and

ii. failed to fulfil his obligations as CCO of TAL to monitor and assess compliance by TAL and

individuals acting on its behalf with securities legislation, contrary to section 5.2 of NI 31-103; (f) Furtak, Olsthoorn and Allen, as directors and officers of Axton and STL (Furtak), TAL (Olsthoorn), and SMI

(Allen), (the “Corporate Respondents”), authorized, permitted or acquiesced in the Corporate Respondents’ non-compliance with Ontario securities law, and accordingly are deemed to have failed to comply with Ontario securities law, pursuant to section 129.2 of the Act.

36. By reason of the foregoing, the Respondents violated the requirements of Ontario securities law and/or engaged in

conduct contrary to the public interest, such that it is in the public interest to make orders under section 127 of the Act. 37. Staff reserve the right to make such other allegations as Staff may advise and the Commission may permit. DATED at Toronto, March 30, 2015.


April 9, 2015

(2015), 38 OSCB 3321

1.2.3 Eric Inspektor – ss. 127 and 127.1



AND

IN THE MATTER OF ERIC INSPEKTOR

AND

IN THE MATTER OF

A SETTLEMENT AGREEMENT BETWEEN STAFF OF THE ONTARIO SECURITIES COMMISSION

AND ERIC INSPEKTOR

NOTICE OF HEARING (Sections 127 and 127.1 of the Securities Act)

TAKE NOTICE that the Ontario Securities Commission (the “Commission”) will hold a hearing pursuant to sections 127 and 127.1 of the Securities Act, R.S.O., c. S.5, as amended (the “Act”), at the offices of the Commission at 20 Queen Street West, 17th Floor, in the City of Toronto, commencing on the 8th day of April, 2015 at 10:00 a.m. or as soon thereafter as the hearing can be held; AND TAKE NOTICE that the purpose of the hearing is for the Commission to consider whether it is in the public interest to approve the Settlement Agreement between Staff of the Commission (“Staff”) and Eric Inspektor pursuant to sections 127 and 127.1 of the Act; BY REASON OF the allegations set out in the Statement of Allegations of Staff dated March 28, 2014, and such additional allegations as counsel may advise and the Commission may permit; AND TAKE FURTHER NOTICE that any party to the proceeding may be represented by counsel at the hearing; AND TAKE FURTHER NOTICE that upon failure of any party to attend at the time and place aforesaid, the hearing may proceed in the absence of that party, and such party is not entitled to any further notice of the proceedings; AND TAKE FURTHER NOTICE that the Notice of Hearing is also available in French, participation may be in either French or English and participants must notify the Secretary’s Office in writing as soon as possible, and in any event, at least thirty (30) days before a hearing if the participant is requesting a proceeding to be conducted wholly or partly in French; ET AVIS EST ÉGALEMENT DONNÉ PAR LA PRÉSENTE que l’avis d’audience est disponible en français, que la participation à l’audience peut se faire en français ou en anglais et que les participants doivent aviser le Bureau du secrétaire par écrit le plut tôt possible et, dans tous les cas, au moins trente (30) jours avant l’audience si le participant demande qu’une instance soit tenue entièrement ou partiellement en français. DATED at Toronto, this 31st day of March, 2015. “Josée Turcotte”


April 9, 2015

(2015), 38 OSCB 3322

1.2.4 Blue Gold Holdings Ltd. et al. – ss. 127 and 127.1



AND

IN THE MATTER OF BLUE GOLD HOLDINGS LTD., DEREK BLACKBURN, RAJ KURICHH

AND NIGEL GREENING

AMENDED NOTICE OF HEARING (Sections 127 and 127.1 of the Securities Act)

TAKE NOTICE that the Ontario Securities Commission (the “Commission”) will hold a hearing pursuant to sections 127 and 127.1 of the Securities Act, R.S.O., c. S.5, as amended (the “Act”), at the offices of the Commission at 20 Queen Street West, 17th Floor, Toronto, Ontario, commencing on April 10, 2015 at 10:00 a.m. or as soon thereafter as the hearing can be held; AND TAKE NOTICE that the purpose of the hearing is for the Commission to consider whether, in the Commission's opinion, it is in the public interest for the Commission to make the following orders:

(a) that trading in any securities or derivatives by Blue Gold Holdings Ltd., Derek Blackburn (“Blackburn”), Raj Kurichh (“Kurichh”) and Nigel Greening (“Greening”) (collectively, the “Respondents”) cease permanently or for such period as is specified by the Commission, pursuant to paragraph 2 of subsection 127(1) of the Act;

(b) that the acquisition of any securities by the Respondents be prohibited permanently or for such period as is

specified by the Commission, pursuant to paragraph 2.1 of subsection 127(1) of the Act; (c) that any exemptions contained in Ontario securities law not apply to the Respondents permanently or for such

period as is specified by the Commission, pursuant to paragraph 3 of subsection 127(1) of the Act; (d) that the Respondents be reprimanded, pursuant to paragraph 6 of subsection 127(1) of the Act; (e) that Blackburn, Kurichh and Greening (collectively, the “Individual Respondents”) resign any positions that

they hold as directors or officers of an issuer, registrant or investment fund managers pursuant to paragraphs 7, 8.1 and 8.3 of subsection 127(1) of the Act;

(f) that the Individual Respondents be prohibited from becoming or acting as directors or officers of any issuer,

registrant or investment fund manager, pursuant to paragraphs 8, 8.2 and 8.4 of subsection 127(1) of the Act; (g) that the Respondents be prohibited from becoming or acting as a registrant, as an investment fund manager

or as a promoter, pursuant to paragraph 8.5 of subsection 127(1) of the Act; (h) that the Respondents each pay an administrative penalty of not more than $1 million for each failure by the

Respondents to comply with Ontario securities law, pursuant to paragraph 9 of subsection 127(1) of the Act; (i) that each Respondent disgorge to the Commission any amounts obtained as a result of non-compliance by

that Respondent with Ontario securities law, pursuant to paragraph 10 of subsection 127(1) of the Act; (j) that the Respondents pay the costs of the Commission's investigation and the costs of or related to any

hearing before the Commission, pursuant to section 127.1 of the Act; and (k) such other order as the Commission considers appropriate.

BY REASON OF the allegations set out in the Statement of Allegations of Staff of the Commission, dated March 11, 2015, and such further allegations as counsel may advise and the Commission may permit; AND TAKE FURTHER NOTICE that any party to the proceeding may be represented by counsel at the hearing; AND TAKE FURTHER NOTICE that upon failure of any party to attend at the time and place aforesaid, the hearing may proceed in the absence of that party, and such party is not entitled to any further notice of the proceedings.


April 9, 2015

(2015), 38 OSCB 3323

AND TAKE FURTHER NOTICE that the Notice of Hearing is also available in French, participation may be in either French or English and participants must notify the Secretary’s Office in writing as soon as possible, and in any event, at least thirty (30) days before a hearing if the participant is requesting a proceeding to be conducted wholly or partly in French; and ET AVIS EST ÉGALEMENT DONNÉ PAR LA PRÉSENTE que l'avis d'audience est disponible en français, que la participation à l'audience peut se faire en français ou en anglais et que les participants doivent aviser le Bureau du secrétaire par écrit le plut tôt possible et, dans tous les cas, au moins trente (30) jours avant l'audience si le participant demande qu'une instance soit tenue entièrement ou partiellement en français. DATED at Toronto, this 1st day of April, 2015. “Josée Turcotte” Secretary to the Commission


April 9, 2015

(2015), 38 OSCB 3324

1.2.5 Gordon Mak – ss. 127(1), 127(10)



AND

IN THE MATTER OF GORDON MAK

NOTICE OF HEARING

(Subsections 127(1) and 127(10)) TAKE NOTICE THAT the Ontario Securities Commission (the “Commission”) will hold a hearing pursuant to subsections 127(1) and 127(10) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”), at the offices of the Commission, 20 Queen Street West, 17th Floor, Toronto, Ontario commencing on April 28, 2015 at 10:30 a.m.; TO CONSIDER whether, pursuant to paragraph 5 of subsection 127(10) of the Act, it is in the public interest for the Commission to make an order: 1. against Gordon Mak (“Mak”) that:

a. pursuant to paragraph 2 of subsection 127(1) of the Act, trading in any securities by Mak cease until December 2, 2020, with the exception that Mak is permitted to trade in one personal: brokerage account, LIRA account, and TFSA account, provided that such trading is through a registrant who has been given a copy of the Settlement Agreement and Undertaking between Mak and the Alberta Securities Commission dated December 2, 2014 (the “Settlement Agreement”), and a copy of the Order of the Commission in this proceeding, if granted;

b. pursuant to paragraph 2.1 of subsection 127(1) of the Act, acquisition of any securities by Mak cease until

December 2, 2020, with the exception that Mak is permitted to trade in one personal: brokerage account, LIRA account, and TFSA account, provided that such trading is through a registrant who has been given a copy of the Settlement Agreement, and a copy of the Order of the Commission in this proceeding, if granted;

c. pursuant to paragraph 3 of subsection 127(1) of the Act, any exemptions contained in Ontario securities laws

do not apply to Mak until December 2, 2020; and d. pursuant to paragraph 1 of subsection 127(1), any registration granted to Mak under Ontario securities law be

prohibited until December 2, 2020;

2. To make such other order or orders as the Commission considers appropriate. BY REASON of the allegations set out in the Statement of Allegations of Staff of the Commission dated April 1, 2015 and by reason of the Settlement Agreement, and such additional allegations as counsel may advise and the Commission may permit; AND TAKE FURTHER NOTICE that at the hearing on April 28, 2015 at 10:30 a.m., Staff will bring an application to proceed with the matter by written hearing, in accordance with Rule 11 of the Ontario Securities Commission Rules of Procedure (2014), 37 OSCB 4168 and section 5.1 of the Statutory Powers Procedure Act, R.S.O. 1990, c. S.22, as amended, and any party to the proceeding may make submissions in respect of the application to proceed by written hearing; AND TAKE FURTHER NOTICE that any party to the proceeding may be represented by counsel if that party attends or submits evidence at the hearing; AND TAKE FURTHER NOTICE that upon failure of any party to attend at the time and place aforesaid, the hearing may proceed in the absence of the party and such party is not entitled to any further notice of the proceeding; AND TAKE FURTHER NOTICE that the Notice of Hearing is also available in French, participation may be in either French or English and participants must notify the Secretary’s Office in writing as soon as possible, and in any event, at least thirty (30) days before a hearing if the participant is requesting a proceeding to be conducted wholly or partly in French; and


April 9, 2015

(2015), 38 OSCB 3325

ET AVIS EST ÉGALEMENT DONNÉ PAR LA PRÉSENTE que l'avis d'audience est disponible en français, que la participation à l'audience peut se faire en français ou en anglais et que les participants doivent aviser le Bureau du secrétaire par écrit le plut tôt possible et, dans tous les cas, au moins trente (30) jours avant l'audience si le participant demande qu'une instance soit tenue entièrement ou partiellement en français. DATED at Toronto this 1st day of April, 2015. “Josée Turcotte” Secretary to the Commission


April 9, 2015

(2015), 38 OSCB 3326



AND

IN THE MATTER OF GORDON MAK


STAFF OF THE ONTARIO SECURITIES COMMISSION Staff of the Ontario Securities Commission (“Staff”) allege: I. OVERVIEW 1. On December 2, 2014, Gordon Mak (“Mak”) entered into a Settlement Agreement and Undertaking with the Alberta

Securities Commission (the “ASC”) (the “Settlement Agreement”). 2. Pursuant to the Settlement Agreement, Mak agreed to certain undertakings and to be made subject to sanctions,

conditions, restrictions or requirements within the province of Alberta. 3. Staff are seeking an inter-jurisdictional enforcement order reciprocating the Settlement Agreement, pursuant to

paragraph 5 of subsection 127(10) of the Ontario Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”). 4. The conduct for which Mak was sanctioned took place from 2006 to 2010 (the “Material Time”). 5. At the time of the Settlement Agreement, Mak was a resident of Calgary, Alberta. In the Settlement Agreement, Mak

admitted to unregistered trading and advising, and engaging in an illegal distribution of securities of Goldenrod Resources Inc. (“Goldenrod”) and Clean Power Technologies Inc. (“Clean Power”).

6. Mak further admitted to concealing his activities with respect to Goldenrod and Clean Power from ASC investigators

during the course of the ASC’s investigation. II. THE ASC PROCEEDINGS Agreed Facts 7. In the Settlement Agreement, Mak agreed with the following facts: Circumstances

a. Mak is a resident of Calgary, Alberta. b. Goldenrod was incorporated in Alberta on February 15, 2001, and at all material times carried on business in

Calgary, Alberta. c. Clean Power was incorporated in Nevada and registered extra-provincially in Alberta on January 8, 2007. At

all material times it carried on business in Calgary, Alberta. d. None of Mak, Goldenrod, or Clean Power have ever been registered with the ASC as a salesperson or an

advisor, and neither a preliminary prospectus nor final prospectus were ever filed with and receipted by the ASC for the distribution of any Goldenrod or Clean Power securities.

Goldenrod

e. From 2006 to 2010, Goldenrod raised funds from investors in Alberta through documents called net profit agreements (“NPA’s”). The NPA’s were purportedly in respect of specific gas assets or a gas processing facility, and were to pay returns, typically at 1%, from the profits of the particular well or facility.

f. At least 50 investors purchased NPA’s, with total funds raised by Goldenrod amounting to approximately $5.5

million. Mak assisted with fundraising activities on behalf of Goldenrod, including meeting with prospective investors, providing advice, soliciting investments, and handling investment dollars.


April 9, 2015

(2015), 38 OSCB 3327

g. The NPA’s were securities, and the sale of the securities by Mak to investors were trades, as those terms are defined in the Alberta Securities Act, R.S.A. 2000, c. S-4, as amended (the “ASA”). As first trades in securities that were not previously issued, the sales were also a distribution under the ASA.

Clean Power

h. From 2007 to 2008, Clean Power raised funds from investors in Alberta. At least 87 investors purchased securities in Clean Power, with total funds raised amounting to at least $2,200,000. Mak assisted with fundraising activities on behalf of Clean Power, including meeting with prospective investors, providing advice, participating in sales meetings, soliciting investments, and handling investment dollars.

i. The sale of securities of Clean Power constituted trades, as that term is defined in the ASA. As first trades in

securities that were not previously issued, the sales were also a distribution under the ASA.

Concealing Activities

j. Mak was interviewed by ASC Staff investigators with respect to his role and activities in the trading of Goldenrod and Clean Power securities. He concealed certain of his activities during that interview, specifically that he:

i) received funds from Goldenrod, and its investors, for his activities related to the sale of NPA’s; ii) received funds from Clean Power, and its investors, for his activities related to the sale of its shares;

and iii) provided advice to investors to purchase the Goldenrod and Clean Power securities.

k. Mak requested and received in excess of $30,000 as fees or payments from investors in connection with the

sale of securities of Goldenrod or Clean Power.

Breaches 1. Mak breached:

i) section 75(1)(a) of the ASA by trading in securities of Goldenrod and Clean Power without registration;

ii) section 75(1)(b) of the ASA by acting as an advisor with respect to the Goldenrod and Clean Power

investments without registration; iii) section 110 of the ASA by engaging in a distribution of securities of Goldenrod and Clean Power

without filing with the ASC and receiving a receipt for a preliminary prospectus and prospectus; and iv) section 93.4(1) of the ASA by concealing or withholding information reasonably required for an

investigation under the ASA.

m. Mak’s unregistered sales to Albertans of, and advice in relation to, securities in Goldenrod and Clean Power, and his concealment and withholding of information reasonably required for an investigation under the ASA, constituted conduct contrary to the public interest.

The Settlement Agreement and Undertaking 8. Pursuant to the Settlement Agreement, Mak agreed to certain undertakings and to be made subject to sanctions,

conditions, restrictions or requirements within the province of Alberta:

a. to pay to the ASC the amount of $80,000 in settlement of the allegations; b. for a period of 6 years from the date of the Settlement Agreement:

(i) to cease trading in or purchasing securities and derivatives, with the exception that Mak is permitted to trade in one personal: brokerage account, LIRA account, and TFSA account, provided that such trading is through a registrant who has been given a copy of the Settlement Agreement;


April 9, 2015

(2015), 38 OSCB 3328

(ii) to refrain from using any of the exemptions contained in Alberta securities laws; (iii) to refrain from advising in securities or derivatives; and

c. to pay to the ASC the amount of $15,000 towards investigation costs.

III. JURISDICTION OF THE ONTARIO SECURITIES COMMISSION 9. In the Settlement Agreement, Mak agreed to be made subject to sanctions, conditions, restrictions or requirements

within the province of Alberta. 10. Pursuant to paragraph 5 of subsection 127(10) of the Act, an agreement with a securities regulatory authority,

derivatives regulatory authority or financial regulatory authority, in any jurisdiction, to be made subject to sanctions, conditions, restrictions or requirements on the person or company may form the basis for an order in the public interest made under subsection 127(1) of the Act.

11. Staff allege that it is in the public interest to make an order against Mak. 12. Staff reserve the right to amend these allegations and to make such further and other allegations as Staff deem fit and

the Commission may permit. 13. Staff request that this application be heard by way of a written hearing pursuant to Rules 2.6 and 11 of the Ontario

Securities Commission Rules of Procedure (2014), 37 OSCB 4168. DATED at Toronto, this 1st day of April, 2015.


April 9, 2015

(2015), 38 OSCB 3329

1.2.6 Andre Lewis – ss. 127(1) and 127(10)



AND

IN THE MATTER OF ANDRE LEWIS

NOTICE OF HEARING

(Subsections 127(1) and 127(10)) TAKE NOTICE THAT the Ontario Securities Commission (the “Commission”) will hold a hearing pursuant to subsections 127(1) and 127(10) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”), at the offices of the Commission, 20 Queen Street West, 17th Floor, commencing on April 28, 2015 at 11:00 a.m.; TO CONSIDER whether, pursuant to paragraph 1 of subsection 127(10) of the Act, it is in the public interest for the Commission to make an order: 1. against Andre Lewis (“Lewis”) that:

a. pursuant to paragraph 2 of subsection 127(1) of the Act, trading in any securities by Lewis cease permanently; b. pursuant to paragraph 2.1 of subsection 127(1) of the Act, acquisition of any securities by Lewis be prohibited

permanently; c. pursuant to paragraph 3 of subsection 127(1) of the Act, any exemptions contained in Ontario securities law

shall not apply to Lewis permanently; d. pursuant to paragraphs 7, 8.1 and 8.3 of subsection 127(1) of the Act, Lewis resign any positions that he

holds as director or officer of any issuer, registrant or investment fund manager; e. pursuant to paragraphs 8, 8.2 and 8.4 of subsection 127(1) of the Act, Lewis be prohibited permanently from

becoming or acting as an officer or director of any issuer, registrant or investment fund manager; and f. pursuant to paragraph 8.5 of subsection 127(1) of the Act, Lewis be prohibited permanently from becoming or

acting as a registrant, as an investment fund manager or as a promoter; 2. to make such other order or orders as the Commission considers appropriate. BY REASON of the allegations set out in the Statement of Allegations of Staff of the Commission dated April 1, 2015, and such additional allegations as counsel may advise and the Commission may permit; AND TAKE FURTHER NOTICE that at the hearing on April 28, 2015 at 11:00 a.m., Staff will bring an application to proceed with the matter by written hearing, in accordance with Rule 11 of the Ontario Securities Commission Rules of Procedure (2014), 37 OSCB 4168 and section 5.1 of the Statutory Powers Procedure Act, R.S.O. 1990, c. S.22, as amended, and any party to the proceeding may make submissions in respect of the application to proceed by written hearing; AND TAKE FURTHER NOTICE that any party to the proceeding may be represented by counsel if that party attends or submits evidence at the hearing; AND TAKE FURTHER NOTICE that upon failure of any party to attend at the time and place aforesaid, the hearing may proceed in the absence of the party and such party is not entitled to any further notice of the proceeding. AND TAKE FURTHER NOTICE that the Notice of Hearing is also available in French, participation may be in either French or English and participants must notify the Secretary’s Office in writing as soon as possible, and in any event, at least thirty (30) days before a hearing if the participant is requesting a proceeding to be conducted wholly or partly in French; and ET AVIS EST ÉGALEMENT DONNÉ PAR LA PRÉSENTE que l'avis d'audience est disponible en français, que la participation à l'audience peut se faire en français ou en anglais et que les participants doivent aviser le Bureau du secrétaire


April 9, 2015

(2015), 38 OSCB 3330

par écrit le plut tôt possible et, dans tous les cas, au moins trente (30) jours avant l'audience si le participant demande qu'une instance soit tenue entièrement ou partiellement en français. DATED at Toronto this 1st day of April, 2015. “Josée Turcotte” Secretary to the Commission


April 9, 2015

(2015), 38 OSCB 3331



AND

IN THE MATTER OF ANDRE LEWIS


STAFF OF THE ONTARIO SECURITIES COMMISSION Staff of the Ontario Securities Commission (“Staff”) allege: I. OVERVIEW 1. On June 18, 2014, following a trial by jury, Andre Lewis (“Lewis”) was found guilty in the Superior Court of Justice of

one count of defrauding the public of an amount exceeding $5,000, contrary to section 380(1)(a) of the Criminal Code, R.S.C., 1985, c. C-46 (“Criminal Code”). On July 11, 2014, Lewis was sentenced by the Court to 7 years in prison.

2. The offence for which Lewis was convicted arose from transactions, business or a course of conduct related to

securities. 3. Staff are seeking an inter-jurisdictional enforcement order reciprocating Lewis’s conviction, pursuant to paragraph 1 of

subsection 127(10) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”). 4. The conduct for which Lewis was sanctioned took place between January 1, 2004 and October the 27, 2011 (the

“Material Time”). II. THE RESPONDENT 5. Lewis is a resident of Ontario. 6. During the Material Time, Lewis operated Lexxco Corp. (“Lexxco”), an Etobicoke real estate and financial services firm.

Lewis incorporated Lexxco in 2002. Lexxco was licenced as a mortgage administrator with the Financial Services Commission of Ontario (“FSCO”) from January 30, 2009 to September 8, 2011. FSCO revoked Lexxco’s licence on November 26, 2014.

7. During the Material Time, Lewis defrauded 33 victims of $7,527,630 in a large-scale, sophisticated mortgage

investment scam in the nature of a Ponzi scheme. 8. Lewis, through his various companies under Lexxco, solicited money for investments in private mortgages, offering

rates of return of 10 per cent. Lewis placed ads in newspapers, radio ads, and promotional material explaining the benefits of private mortgage investments. Lewis advertised the investments as safe and secure, and in exchange for their investments, he provided investors with promissory notes promising the return of their principal at the end of the term.

9. Lewis invested a small portion of the funds raised from investors in mortgages, however, most of the properties were

sold under power of sale at a loss to investors. Most of the funds were deposited into bank accounts under Lewis’s control and used for his own benefit, and also used to pay “interest” to other investors.

III. THE SUPERIOR COURT OF JUSTICE PROCEEDINGS Lewis’s Conviction 10. By Information sworn June 29, 2012, and amended June 24, 2013, Lewis was charged with one count of defrauding

the public of an amount exceeding $5,000, contrary to section 380(1)(a) of the Criminal Code (the “Information”). 11. Lewis pleaded not guilty to the charge. 12. On June 18, 2014, following a 39-day trial held between April and June 2014, a jury found Lewis guilty of one count of

defrauding the public of an amount exceeding $5,000.


April 9, 2015

(2015), 38 OSCB 3332

Lewis’s Sentence 13. A sentencing hearing was subsequently held on July 3, 2014 before Justice Katherine B. Corrick of the Superior Court

of Justice. Justice Corrick issued oral reasons for sentence on July 11, 2014, and sentenced Lewis to a term of imprisonment of 7 years.

V. JURISDICTION OF THE ONTARIO SECURITIES COMMISSION 14. Pursuant to paragraph 1 of subsection 127(10) of the Act, Lewis’s conviction for offences arising from transactions,

business or a course of conduct related to securities or derivatives may form the basis for an order in the public interest made under subsection 127(1) of the Act.

15. Staff allege that it is in the public interest to make an order against Lewis. 16. Staff reserve the right to amend these allegations and to make such further and other allegations as Staff deem fit and

the Commission may permit. 17. Staff request that this application be heard by way of a written hearing pursuant to Rules 2.6 and 11 of the Ontario

Securities Commission Rules of Procedure, (2014) 37 O.S.C.B. 4168. DATED at Toronto, this 1st day of April, 2015.


April 9, 2015

(2015), 38 OSCB 3333

1.4 Notices from the Office of the Secretary 1.4.1 Future Solar Developments Inc. et al.

FOR IMMEDIATE RELEASE March 31, 2015

IN THE MATTER OF

THE SECURITIES ACT, R.S.O. 1990, c. S.5, AS AMENDED

AND

IN THE MATTER OF

FUTURE SOLAR DEVELOPMENTS INC., CENITH ENERGY CORPORATION, CENITH AIR INC.,

ANGEL IMMIGRATION INC. AND XUNDONG QIN also known as SAM QIN

TORONTO – The Office of the Secretary issued a Notice of Hearing setting the matter down to be heard on April 15, 2015 at 11:30 a.m. as soon thereafter as the hearing can be held in the above named matter. The hearing will be held at the offices of the Commission at 20 Queen Street West, 17th Floor, Toronto. A copy of the Notice of Hearing dated March 26, 2015 and Statement of Allegations of Staff of the Ontario Securities Commission dated March 26, 2015 are available at www.osc.gov.on.ca. OFFICE OF THE SECRETARY JOSÉE TURCOTTE ACTING SECRETARY For media inquiries: [email protected] For investor inquiries: OSC Contact Centre 416-593-8314 1-877-785-1555 (Toll Free)

1.4.2 Satish Talawdekar and Anand Hariharan

FOR IMMEDIATE RELEASE March 31, 2015

IN THE MATTER OF


AND

IN THE MATTER OF

SATISH TALAWDEKAR AND ANAND HARIHARAN

AND

IN THE MATTER OF A SETTLEMENT AGREEMENT BETWEEN

STAFF OF THE ONTARIO SECURITIES COMMISSION AND ANAND HARIHARAN

TORONTO – Following a hearing held today, the Commission issued an Order in the above named matter approving the Settlement Agreement reached between Staff of the Commission and Anand Hariharan. A copy of the Order dated March 31, 2015 and Settlement Agreement dated March 11, 2015 are available at www.osc.gov.on.ca. OFFICE OF THE SECRETARY JOSÉE TURCOTTE ACTING SECRETARY For media inquiries: [email protected] For investor inquiries: OSC Contact Centre 416-593-8314 1-877-785-1555 (Toll Free)


April 9, 2015

(2015), 38 OSCB 3334

1.4.3 Edward Furtak et al.



AND

IN THE MATTER OF EDWARD FURTAK, AXTON 2010 FINANCE CORP.,

STRICT TRADING LIMITED, RONALD OLSTHOORN, TRAFALGAR ASSOCIATES LIMITED, LORNE ALLEN

and STRICTRADE MARKETING INC. TORONTO – The Office of the Secretary issued a Notice of Hearing on March 30, 2015 setting the matter down to be heard on April 27, 2015 at 9:30 a.m. or as soon thereafter as the hearing can be held in the above named matter. The hearing will be held at the offices of the Commission at 20 Queen Street West, 17th Floor, Toronto. A copy of the Notice of Hearing dated March 30, 2015 and Statement of Allegations of Staff of the Ontario Securities Commission dated March 30, 2015 are available at www.osc.gov.on.ca. OFFICE OF THE SECRETARY JOSÉE TURCOTTE SECRETARY For media inquiries: [email protected] For investor inquiries: OSC Contact Centre 416-593-8314 1-877-785-1555 (Toll Free)

1.4.4 Eric Inspektor

FOR IMMEDIATE RELEASE April 2, 2015

IN THE MATTER OF


AND

IN THE MATTER OF ERIC INSPEKTOR

AND

IN THE MATTER OF

A SETTLEMENT AGREEMENT BETWEEN ERIC INSPEKTOR AND

STAFF OF THE ONTARIO SECURITIES COMMISSION TORONTO – The Office of the Secretary issued a Notice of Hearing for a hearing to consider whether it is in the public interest to approve a settlement agreement entered into by Staff of the Commission and Eric Inspektor in the above named matter. The hearing will be held on April 8, 2015 at 10:00 a.m. on the 17th floor of the Commission's offices located at 20 Queen Street West, Toronto. A copy of the Notice of Hearing dated March 31, 2015 is available at www.osc.gov.on.ca. OFFICE OF THE SECRETARY JOSÉE TURCOTTE SECRETARY For media inquiries: [email protected] For investor inquiries: OSC Contact Centre 416-593-8314 1-877-785-1555 (Toll Free)


April 9, 2015

(2015), 38 OSCB 3335

1.4.5 Blue Gold Holdings Ltd. et al.


IN THE MATTER OF


AND

IN THE MATTER OF

BLUE GOLD HOLDINGS LTD., DEREK BLACKBURN, RAJ KURICHH AND NIGEL GREENING

TORONTO – The Office of the Secretary issued an Amended Notice of Hearing setting the matter down to be heard on April 10, 2015 at 10:00 a.m., or as soon thereafter as the hearing can be held in the above named matter. A copy of the Amended Notice of Hearing dated April 1, 2015 and Statement of Allegations of Staff of the Ontario Securities Commission dated March 11, 2015 are available at www.osc.gov.on.ca. OFFICE OF THE SECRETARY JOSÉE TURCOTTE SECRETARY For media inquiries: [email protected] For investor inquiries: OSC Contact Centre 416-593-8314 1-877-785-1555 (Toll Free)

1.4.6 Christopher Reaney


IN THE MATTER OF


AND

IN THE MATTER OF

CHRISTOPHER REANEY TORONTO – The Commission issued an Order in the above named matter which provides that the stay order of January 14, 2015 as varied by the order of February 4, 2015 is continued until the Commission releases its decision on the hearing and review or until further order of the Commission. A copy of the Order dated March 31, 2015 is available at www.osc.gov.on.ca. OFFICE OF THE SECRETARY JOSÉE TURCOTTE ACTING SECRETARY For media inquiries: [email protected] For investor inquiries: OSC Contact Centre 416-593-8314 1-877-785-1555 (Toll Free)


April 9, 2015

(2015), 38 OSCB 3336

1.4.7 Gordon Mak


IN THE MATTER OF


AND

IN THE MATTER OF

GORDON MAK TORONTO – The Office of the Secretary issued a Notice of Hearing pursuant to Subsections 127(1) and 127(10) of the Securities Act setting the matter down to be heard on April 28, 2015 at 10:30 a.m. or as soon thereafter as the hearing can be held in the above named matter. The hearing will be held at the offices of the Commission at 20 Queen Street West, 17th Floor, Toronto. A copy of the Notice of Hearing dated April 1, 2015 and Statement of Allegations of Staff of the Ontario Securities Commission dated April 1, 2015 are available at www.osc.gov.on.ca. OFFICE OF THE SECRETARY JOSÉE TURCOTTE ACTING SECRETARY For media inquiries: [email protected] For investor inquiries: OSC Contact Centre 416-593-8314 1-877-785-1555 (Toll Free)

1.4.8 Andre Lewis


IN THE MATTER OF


AND

IN THE MATTER OF

ANDRE LEWIS TORONTO – The Office of the Secretary issued a Notice of Hearing pursuant to Subsections 127(1) and 127(10) of the Securities Act setting the matter down to be heard on April 28, 2015 at 11:00 a.m. or as soon thereafter as the hearing can be held in the above named matter. The hearing will be held at the offices of the Commission at 20 Queen Street West, 17th Floor, Toronto. A copy of the Notice of Hearing dated April 1, 2015 and Statement of Allegations of Staff of the Ontario Securities Commission dated April 1, 2015 are available at www.osc.gov.on.ca. OFFICE OF THE SECRETARY JOSÉE TURCOTTE SECRETARY For media inquiries: [email protected] For investor inquiries: OSC Contact Centre 416-593-8314 1-877-785-1555 (Toll Free)


April 9, 2015

(2015), 38 OSCB 3337

1.4.9 Quadrexx Hedge Capital Management Ltd. et al.

FOR IMMEDIATE RELEASE

April 6, 2015



AND

IN THE MATTER OF QUADREXX HEDGE CAPITAL MANAGEMENT LTD., QUADREXX SECURED ASSETS INC., MIKLOS NAGY

and TONY SANFELICE TORONTO – The Commission issued an Order in the above named matter which provides that the April 20, 2015 hearing date is vacated; and the hearing on the merits in this matter shall commence on April 22, 2015 and shall continue on April 23, 24, 27, 28, 29, 30 and May 1, 4, 6, 7, 8, 11, 12, 13, 14 and 15, 2015 commencing at 10:00 a.m. on each day. A copy of the Order dated April 2, 2015 is available at www.osc.gov.on.ca. OFFICE OF THE SECRETARY JOSÉE TURCOTTE SECRETARY For media inquiries: [email protected] For investor inquiries: OSC Contact Centre 416-593-8314 1-877-785-1555 (Toll Free)


April 9, 2015

(2015), 38 OSCB 3338


April 9, 2015

(2015), 38 OSCB 3339

Chapter 2

Decisions, Orders and Rulings 2.1 Decisions 2.1.1 Vinci S.A. Headnote National Policy 11-203 Process For Exemptive Relief Applications in Multiple Jurisdictions – Application for relief from prospectus and dealer registration requirements in respect of certain trades in units made in connection with an employee share offering by a French issuer – Relief from prospectus and dealer registration requirements upon the redemption of units for shares of the issuer – The offering involves the use of collective employee shareholding vehicles, each a fonds communs de placement d’entreprise (FCPE) – The Filer cannot rely on the employee prospectus exemption in section 2.24 of National Instrument 45-106 Prospectus and Registration Exemptions and the Manager cannot rely on the plan administrator exemption in section 8.16 of National Instrument 31-103 Registration Requirements and Exemptions as the shares are not being offered to Canadian employees directly by the issuer but through the FCPEs – Canadian employees will receive disclosure documents – The FCPEs are subject to the supervision of the French Autorité des marchés financiers – Relief granted, subject to conditions. Applicable Legislative Provisions Securities Act, R.S.O. 1990, c.S.5, as am., ss. 25, 53 and 74(1). National Instrument 31-103 Registration Requirements and Exemptions. National Instrument 45-102 Resale of Securities. National Instrument 45-106 Prospectus and Registration Exemptions. TRANSLATION

March 25, 2015

IN THE MATTER OF THE SECURITIES LEGISLATION OF

QUÉBEC AND ONTARIO (THE “FILING JURISDICTIONS”)

AND

IN THE MATTER OF

THE PROCESS FOR EXEMPTIVE RELIEF APPLICATIONS IN MULTIPLE JURISDICTIONS

AND

IN THE MATTER OF VINCI S.A.

(THE “FILER”)

DECISION Background The securities regulatory authority or regulator in each of the Filing Jurisdictions (each a “Decision Maker”) has received an application from the Filer for a decision under the securities legislation of the Filing Jurisdictions (the “Legislation”) for: 1. an exemption from the prospectus requirements of the Legislation (the “Prospectus Relief”) so that such requirements

do not apply to

(a) trades in

Decisions, Orders and Rulings

April 9, 2015

(2015), 38 OSCB 3340

(i) units (the “Principal Classic Units”) of Castor International (the “Principal Classic Fund”), a fonds commun de placement d’entreprise or “FCPE”, a form of collective shareholding vehicle commonly used in France for the conservation and custodianship of shares held by employee-investors; and

(ii) units (the “Temporary Classic Units” and, together with the Principal Classic Units, the “Units”) of a

temporary FCPE named Castor International Relais 2015 (the “Temporary Classic Fund”) which will merge with the Principal Classic Fund following the completion of the Employee Share Offering (as defined below), such transaction being referred to as the “Merger”, as further described below (the term “Classic Fund” used herein means, prior to the Merger, the Temporary Classic Fund and, following the Merger, the Principal Classic Fund);

made pursuant to the Employee Share Offering to or with Qualifying Employees (as defined below) resident in the Filing Jurisdictions and in British Columbia, Alberta and Saskatchewan (collectively, the “Canadian Employees”) who elect to participate in the Employee Share Offering (collectively, the “Canadian Participants”); and

(b) trades in ordinary shares of the Filer (the “Shares”) by the Classic Fund to or with Canadian Participants upon

the redemption of Units as requested by Canadian Participants; 2. an exemption from the dealer registration requirements of the Legislation (the “Registration Relief”) so that such

requirements do not apply to the VINCI Group (as defined below), the Classic Fund and the Management Company (as defined below) in respect of:

(a) trades in Units made pursuant to the Employee Share Offering to or with Canadian Employees; and (b) trades in Shares by the Classic Fund to or with Canadian Participants upon the redemption of Units as

requested by Canadian Participants;

(the Prospectus Relief and the Registration Relief, collectively, the “Offering Relief”). Under the Process for Exemptive Relief Applications in Multiple Jurisdictions (for a dual application):

(a) the Autorité des marchés financiers is the principal regulator for this application, (b) the Filer has provided notice that section 4.7(1) of Regulation 11-102 respecting Passport System

(“Regulation 11-102”) is intended to be relied upon in British Columbia, Alberta and Saskatchewan (the “Other Offering Jurisdictions” and, together with the Filing Jurisdictions, the “Jurisdictions”), and

(c) the decision is the decision of the principal regulator and evidences the decision of the securities regulatory

authority or regulator in Ontario. Interpretation Terms defined in Regulation 14-101 respecting Definitions, Regulation 45-102 respecting resale of securities, Regulation 45-106 respecting Prospectus and Registration Exemptions and Regulation 11-102 have the same meaning if used in this decision, unless otherwise defined. Representations This decision is based on the following facts represented by the Filer: 1. The Filer is a corporation formed under the laws of France. It is not and has no current intention of becoming a

reporting issuer under the Legislation or the securities legislation of the Other Offering Jurisdictions. The head office of the Filer is located in France and the Shares are listed on Euronext Paris.

2. The Filer has established a global employee share offering (the “Employee Share Offering”) for Qualifying Employees

(as defined below) and its participating affiliates, including affiliates that employ Canadian Employees (collectively, the “Canadian Affiliates” and, together with the Filer and other affiliates of the Filer, the “VINCI Group”), including B.A. Blacktop Ltd, Carmacks Enterprises Ltd, Construction DJL Inc., Agra Foundations Limited, Bermingham Construction Ltd, Freyssinet Canada Ltee, Geopac Inc., Reinforced Earth Company Ltd, Janin Atlas Inc., Asphalte Trudeau Ltee, Pavage Rolland Fortier Inc., Location Rolland Fortier Inc., Groupe Lechasseur, Eurovia Québec Grands projets, Eurovia Québec CSP, Eurovia Québec Construction, Imperial Paving Limited, Freycan Major Projects Ltd. Each of the Canadian Affiliates is a direct or indirect controlled subsidiary of the Filer and is not, and has no current intention of


April 9, 2015

(2015), 38 OSCB 3341

becoming, a reporting issuer under the Legislation or the securities legislation of the Other Offering Jurisdictions. The largest number of employees of the VINCI Group in Canada reside in Québec.

3. As of the date hereof and after giving effect to the Employee Share Offering, Canadian residents do not and will not

beneficially own (which term, for the purposes of this paragraph, is deemed to include all Shares held by the Classic Fund on behalf of Canadian Participants) more than 10% of the Shares issued and outstanding, and do not and will not represent in number more than 10 % of the total number of holders of Shares as shown on the books of the Filer.

4. The Employee Share Offering involves an offering of Shares to be subscribed through the Temporary Classic Fund,

which Temporary Classic Fund will be merged with the Principal Classic Fund following completion of the Employee Share Offering (the “Classic Plan”).

5. Only persons who are employees of a member of the VINCI Group during the subscription period for the Employee

Share Offering and who meet other minimum employment criteria (the “Qualifying Employees”) will be allowed to participate in the Employee Share Offering.

6. The Temporary Classic Fund and the Principal Classic Fund were established for the purpose of implementing

employee share offerings of the Filer. There is no current intention for any of the Temporary Classic Fund or the Principal Classic Fund to become a reporting issuer under the Legislation or the securities legislation of the Other Offering Jurisdictions.

7. The Temporary Classic Fund and the Principal Classic Fund are French FCPEs. The Temporary Classic Fund and the

Principal Classic Fund are registered with, and approved by, the Autorité des marchés financiers in France (the “French AMF”).

8. Under the Employee Share Offering:

(a) Canadian Participants will subscribe for Temporary Classic Units and the Temporary Classic Fund will subscribe for Shares, on behalf of the Canadian Participants and using their contribution, at a subscription price that is equal to the arithmetical average of the opening Share price (expressed in Euros) on Euronext Paris on the 20 trading days preceding the start of the subscription period (the “Subscription Price”).

(b) Initially, the Shares will be held in the Temporary Classic Fund and the Canadian Participants will receive

Temporary Classic Units representing the subscription of Shares. (c) After completion of the Employee Share Offering, the Temporary Classic Fund will be merged with the

Principal Classic Fund (subject to the French AMF’s approval). Temporary Classic Units held by Canadian Participants will be replaced with Principal Classic Units on a pro rata basis and the Shares subscribed for under the Classic Plan will be held in the Principal Classic Fund (such transaction being referred to as the “Merger”).

(d) The Units will be subject to a hold period of approximately three years (the “Lock-Up Period”), subject to

certain exceptions prescribed by the rules of the International Group Share Ownership Plan of VINCI Group and adopted under the Employee Share Offering in Canada (such as a release on death, disability or termination of employment).

(e) Any dividends paid on the Shares held in the Classic Fund will be contributed to the Classic Fund and used to

purchase additional Shares. To reflect this reinvestment, the regulations of the Classic Fund provide that new Units (or fractions thereof) will be issued to the Canadian Participants.

(f) At the end of the Lock-Up Period, a Canadian Participant may (i) request the redemption of his or her Units in

the Classic Fund in consideration for the underlying Shares or a cash payment corresponding to the then market value of the Shares, or (ii) continue to hold his or her Units in the Classic Fund and request the redemption of those Units at a later date in consideration for the underlying Shares or a cash payment corresponding to the then market value of the Shares.

(g) In the event of an early unwind resulting from the Canadian Participant exercising one of certain exceptions to

the Lock-Up Period and meeting the applicable criteria, a Canadian Participant may request the redemption of Units in the Classic Fund in consideration for a cash payment corresponding to the then market value of the underlying Shares.

(h) In addition, the Employee Share Offering provides that the Filer will grant to Canadian Participants a

conditional right to receive additional Shares at the end of the Lock-Up Period, free of charge (“Bonus


April 9, 2015

(2015), 38 OSCB 3342

Shares”). The number of Bonus Shares which a Canadian Participant is eligible to receive will be determined according to the following matching schedule:

Canadian Participant’s Subscription Matching Ratio

1-10 Shares 2 Bonus Shares for each Share subscribed

Next 30 Shares (i.e., the 11th to 40th Share subscribed for)

1 Bonus Share for each Share subscribed

Next 60 Shares (i.e., the 41st to 100th Share subscribed for)

1 Bonus Share for each 2 Shares subscribed

Any further Shares starting from the 101st Share subscribed for

No additional Bonus Shares

(i) Under the matching schedule, a Canadian Participant who subscribed for 100 or more Shares would receive a

maximum of 80 Bonus Shares. The right to receive Bonus Shares is generally subject to the condition that the Canadian Participant is employed by a member of the VINCI Group at the end of the Lock-Up Period and holds Units until that time. If these conditions are satisfied, Bonus Shares will be delivered directly to the Canadian Participant or to the Classic Fund on behalf of the Canadian Participant (in which case, additional Units reflecting this will be issued to the Canadian Participant), or sold if requested by the Canadian Participant. If the vesting conditions are not met, the Canadian Participant will lose his or her entitlement to Bonus Shares. However, in certain good leaver events, the loss of entitlement to Bonus Shares is compensated by a cash payment.

9. Under French law, an FCPE is a limited liability entity. The portfolio of the Classic Fund will consist almost entirely of

Shares and may also include cash in respect of dividends paid on the Shares which will be reinvested in Shares as discussed above and cash or cash equivalents pending investments in the Shares and for the purposes of Unit redemptions.

10. The manager of the Temporary Classic Fund and of the Principal Classic Fund, AMUNDI (the “Management

Company”), is a portfolio management company governed by the laws of France. The Management Company is registered with the French AMF to manage investments and complies with the rules of the French AMF. To the best of the Filer’s knowledge, the Management Company is not, and has no current intention of becoming, a reporting issuer under the Legislation or the securities legislation of the Other Offering Jurisdictions.

11. The Management Company’s portfolio management activities in connection with the Employee Share Offering and the

Classic Fund are limited to subscribing for Shares and selling such Shares as necessary in order to fund redemption requests and investing available cash in cash equivalents.

12. The Management Company is also responsible for preparing accounting documents and publishing periodic

informational documents of the Classic Fund. The Management Company is obliged to act exclusively in the best interests of the Canadian Participants and is liable to them, jointly and severally with the Depositary, for any violation of the rules and regulations governing FCPEs, any violation of the rules of the FCPE, or for any self-dealing or negligence. The Management Company’s activities will not affect the underlying value of the Shares.

13. None of the entities forming part of VINCI Group, the Classic Fund or the Management Company or any of their

respective directors, officers, employees, agents or representatives will provide investment advice to the Canadian Employees with respect to investments in the Shares or the Units or to the Canadian Participants with respect to the holding or redemption of their Units.

14. Shares issued pursuant to the Employee Share Offering will be deposited in the Classic Fund through CACEIS Bank

(the “Depositary”), a large French commercial bank subject to French banking legislation. 15. Under French law, the Depositary must be selected by the Management Company from a limited number of companies

identified on a list maintained by the French Minister of the Economy and Finance and its appointment must be approved by the French AMF. The Depositary carries out orders to purchase, trade and sell assets in the portfolio and


April 9, 2015

(2015), 38 OSCB 3343

takes all necessary action to allow each of the Temporary Classic Fund and the Principal Classic Fund to exercise the rights relating to the assets held in their respective portfolios.

16. Participation in the Employee Share Offering is voluntary, and the Canadian Employees will not be induced to

participate in the Employee Share Offering by expectation of employment or continued employment. 17. The total amount that may be invested by a Canadian Employee in the Employee Share Offering cannot exceed 25%

of his or her estimated gross annual compensation for 2015. The value of Bonus Shares is not included in this calculation.

18. The Shares are not currently listed for trading on any stock exchange in Canada and the Filer has no intention to have

the Shares so listed. As there is no market for the Shares in Canada, and as none is expected to develop, any first trades of Shares by Canadian Participants will be effected through the facilities of, and in accordance with, the rules and regulations of Euronext Paris. The Units will not be listed for trading on any stock exchange.

19. Canadian Employees may request and Canadian Participants will receive an information package in the French or

English language, according to their preference, which will include a summary of the terms of the Employee Share Offering and a description of Canadian income tax consequences of subscribing to and holding the Units and requesting the redemption of Units at the end of the Lock-Up Period. Canadian Employees will be advised that they may request copies of the Filer’s Document de Référence filed with the French AMF in respect of the Shares and the regulations of the Temporary Classic Fund and the Principal Classic Fund through their human resources department, and can also access continuous disclosure materials relating to the Filer through the Filer’s public internet site. Canadian Participants will receive an initial statement of their holdings under the Classic Plan together with an updated statement at least once per year.

20. There are approximately 2,020 Qualifying Employees resident in Canada, with the largest number residing in the

Province of Québec. Less than 2% of Qualifying Employees reside in Canada. 21. None of the entities forming part of the VINCI Group or the Classic Fund are in default under the Legislation or the

securities legislation of the Other Offering Jurisdictions. To the best of the Filer’s knowledge, the Management Company is not in default of the Legislation or the securities legislation of the Other Offering Jurisdictions.

Decision Each of the Decision Makers is satisfied that the decision meets the test set out in the Legislation for the Decision Makers to make the decision. The decision of the Decision Makers under the Legislation is that the Offering Relief is granted provided that the prospectus requirements of the Legislation will apply to the first trade in any Units or Shares acquired by Canadian Participants pursuant to this Decision, unless the following conditions are met: 1. the issuer of the security

(a) was not a reporting issuer in any jurisdiction of Canada at the distribution date, or (b) is not a reporting issuer in any jurisdiction of Canada at the date of the trade;

2. at the distribution date, after giving effect to the issue of the security and any other securities of the same class or

series that were issued at the same time as or as part of the same distribution as the security, residents of Canada

(a) did not own, directly or indirectly, more than 10 % of the outstanding securities of the class or series, and (b) did not represent in number more than 10 % of the total number of owners, directly or indirectly, of securities

of the class or series; and 3. the first trade is made

(i) through an exchange, or a market, outside of Canada, or (ii) to a person or company outside of Canada.

“Lucie J. Roy” Senior Director, Corporate Finance


April 9, 2015

(2015), 38 OSCB 3344

2.1.2 Probe Mines Limited Headnote National Policy 11-203 Process For Exemptive Relief Applications in Multiple Jurisdictions – Issuer deemed to no longer be a reporting issuer under securities legislation. Applicable Legislative Provisions Securities Act, R.S.O. 1990, c.S.5, as am., s. 1(10)(a)(ii). March 31st, 2015 Probe Mines Limited c/o Jamie Litchen Cassels Brock & Blackwell LLP 40 King Street West Scotia Plaza, Suite 2100 Toronto, Ontario M5H 3C2 Dear Sir: RE: Probe Mines Limited (the “Applicant”) – Application to Cease to be a Reporting Issuer under the securities

legislation of Ontario, Alberta and Quebec (the “Jurisdictions”) The Applicant has applied to the local securities regulatory authority or regulator (the “Decision Maker”) in each of the Jurisdictions for a decision under the securities legislation (the “Legislation”) of the Jurisdictions that the Applicant is not a reporting issuer. In this decision, “securityholder” means, for a security, the beneficial owner of the security. The Applicant has represented to the Decision Makers that:

(a) the outstanding securities of the Applicant, including debt securities, are beneficially owned, directly or indirectly, by fewer than 15 securityholders in each of the jurisdictions of Canada and fewer than 51 securityholders in total worldwide;

(b) no securities of the Applicant, including debt securities, are traded in Canada or another country on a

marketplace as defined in National Instrument 21-101 Marketplace Operation or any other facility for bringing together buyers and sellers of securities where trading data is publicly reported;

(c) the Applicant is applying for a decision that it is not a reporting issuer in all of the jurisdictions of Canada in

which it is currently a reporting issuer; and

(d) the Applicant is not in default of any of its obligations under the Legislation as a reporting issuer. Each of the Decision Makers is satisfied that the test contained in the Legislation that provides the Decision Maker with the jurisdiction to make the decision has been met and orders that the Applicant is not a reporting issuer. “Shannon O’Hearn” Manager, Corporate Finance Ontario Securities Commission


April 9, 2015

(2015), 38 OSCB 3345

2.1.3 Brookfield Residential Properties Inc. Headnote National Policy 11-203 Process for Exemptive Relief Applications in Multiple Jurisdictions – issuer has outstanding debt – issuer deemed to be no longer a reporting issuer under securities legislation – issuer has more than 15 securityholders in one jurisdiction, more than 51 securityholders worldwide, but less than 51 securityholders in Canada. Applicable Legislative Provisions Securities Act, R.S.O., 1990, c.S.5, as am., s. 1(10)(a)(ii). Citation: Re Brookfield Residential Properties Inc., 2015 ABASC 624

March 31, 2015


BRITISH COLUMBIA, ALBERTA, SASKATCHEWAN, MANITOBA, ONTARIO, QUÉBEC, NEW BRUNSWICK, PRINCE EDWARD ISLAND, NOVA SCOTIA,

AND NEWFOUNDLAND AND LABRADOR (THE JURISDICTIONS)

AND

IN THE MATTER OF


AND

IN THE MATTER OF BROOKFIELD RESIDENTIAL PROPERTIES INC.

(THE FILER)

DECISION Background The securities regulatory authority or regulator of each of the Jurisdictions (the Decision Maker) has received an application from the Filer for a decision under the securities legislation of the Jurisdictions (the Legislation) that the Filer is not a reporting issuer (the Exemptive Relief Sought). Under the Process of Exemptive Relief Applications in Multiple Jurisdictions (for a coordinated review application): (a) the Alberta Securities Commission is the principal regulator for this application; and (b) this decision is the decision of the principal regulator and evidences the decision of each other Decision Maker. Interpretation Terms defined in National Instrument 14-101 Definitions have the same meaning if used in this decision, unless otherwise defined herein. Representations This decision is based on the following facts represented by the Filer: 1. The Filer was formed under, and is governed by, the Business Corporations Act (Ontario) (the OBCA). 2. The Filer’s head office is located at 4906 Richard Road S.W., Calgary, Alberta, T3E 6L1. 3. The Filer’s registered office is located at Suite 100, 7303 Warden Avenue, Markham, Ontario, Canada L3R 5Y6.


April 9, 2015

(2015), 38 OSCB 3346

4. The Filer is a reporting issuer under the laws of each of the Jurisdictions and is not in default of its obligations under the securities laws of any of the Jurisdictions.

5. At a special meeting of shareholders of the Filer held on March 10, 2015, requisite shareholder approval was received

in connection with a “going-private” transaction pursuant to a statutory plan of arrangement under Section 182 of the OBCA (the Arrangement) whereby Brookfield Asset Management Inc. (Brookfield Asset Management) would directly or indirectly acquire the remaining approximately 30% of the Filer’s common shares (Common Shares) that it did not already own. The holders of Notes (as defined below) were not required to vote. At the final order hearing held on March 12, 2015, the Filer received a final order of the Ontario Superior Court of Justice (Commercial List) approving the Arrangement. The Arrangement was completed on March 13, 2015. The full details of the Arrangement and the intention of the Filer to make an application to cease to be a reporting issuer were contained in a management information circular of the Filer dated January 12, 2015 and filed on SEDAR.

6. The Filer issued a news release on March 3, 2015 announcing that it has applied to each of the Decision Makers for a

decision that it is not a reporting issuer in the applicable Jurisdiction and, if those orders are granted , the Filer will no longer be a reporting issuer in any jurisdiction of Canada.

7. The authorized capital of the Filer consists of an unlimited number of Common Shares and an unlimited number of

convertible preferred shares (the Preferred Shares). As at the date hereof there are 113,900,674 issued and outstanding Common Shares and no issued and outstanding Preferred Shares.

8. All of the Common Shares are beneficially held by a single shareholder, Brookfield Asset Management, a company

whose head office is located in Ontario. Brookfield Asset Management Inc. owns 100% of the Common Shares directly and indirectly through three subsidiaries.

9. The Filer has two classes of debt securities outstanding:

(a) US$600 million principal amount of 6.5% unsecured senior notes due 2020 (the 2020 Notes). The 2020 Notes were issued pursuant to an indenture (the 2020 Notes Indenture) dated as of December 14, 2012 between the Filer, the subsidiary guarantors named therein and Wells Fargo Bank, National Association, as trustee (the Trustee); and

(b) US$500 million principal amount of 6.125% unsecured senior notes due 2022 (the 2022 Notes, and with the

2020 Notes, the Notes). The 2022 Notes were issued pursuant to an indenture (the 2022 Notes Indenture, and with the 2020 Notes Indenture, the Indentures) dated as of June 25, 2013 between the Filer, Brookfield Residential US Corporation, as co-issuer, the subsidiary guarantors named therein and the Trustee.

The Notes are not convertible or exchangeable into any other voting or equity securities. The Notes were initially issued on a private placement basis, primarily in the United States to “qualified institutional buyers” under U.S. federal securities law with a relatively small portion (less than 10%) sold in Canada to “accredited investors” under applicable Canadian securities legislation. 10. All of the outstanding incentive awards issued under the Filer’s incentive plans that entitle holders thereof to receive

Common Shares upon vesting, conversion or exchange thereof were accelerated. Other than the 17 optionholders, whose options were cancelled in exchange for certain cash payments, all other holders of such incentive awards received Common Shares that were sold in connection with the Arrangement. The Filer has no incentive awards outstanding that are convertible or exchangeable into Common Shares. The only incentive awards outstanding are deferred share units held by directors and senior officers of the Filer, which are only redeemable for a cash payment.

11. The Filer has no securities issued and outstanding other than as set out in paragraphs 7, 9 and 10 above. 12. Prior to the completion of the Arrangement, the Common Shares were listed and posted for trading on the Toronto

Stock Exchange (the TSX) and the New York Stock Exchange (the NYSE). The Common Shares have been delisted from the TSX and the NYSE.

13. The Notes have never been listed for trading on any stock exchange or other marketplace (as that term is defined in

National Instrument 21-101 Marketplace Operation). 14. The Indentures do not contain any provision requiring that the Filer remain subject to the reporting requirements of

Canadian securities legislation, the reporting requirements of Section 13 or 15(d) of the 1934 Act, or the reporting requirements of any other jurisdiction. The Indentures, including all applicable amendments and supplements, have been filed on SEDAR. The Indentures do not contain any provision requiring ongoing reporting to holders of Notes or to the trustee once the Filer is no longer subject to reporting requirements under applicable securities law.


April 9, 2015

(2015), 38 OSCB 3347

15. The Filer is no longer subject to any reporting requirements under the 1934 Act; however, under U.S. federal securities law the Filer is required to furnish holders of the Notes, or prospective holders of the Notes, upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) under the 1933 Act, which is comprised of a brief statement of the nature of the business of the Filer and the products and services it offers and the Filer’s most recent balance sheet and profit and loss and retained earnings statements, and similar financial statements for such part of the two preceding fiscal years. The Filer undertakes to provide the same disclosure to each holder of a Note in Canada.

16. The Notes are issued in book-entry form and are represented by global certificates registered in a nominee name of

The Depository Trust Company (DTC), with beneficial interests therein recorded in records maintained by DTC and its participants as financial intermediaries that hold securities on behalf of their clients. In accordance with industry practice and custom, the Filer has obtained from Broadridge Financial Solutions Inc. (Broadridge) a geographic survey of beneficial holders of Notes as of January 20, 2015 (the Geographic Report), which provides information as to the number of noteholders and Notes held in each jurisdiction of Canada, the United States and elsewhere. Broadridge advised the Filer that its reported information is based on securityholder addresses of record identified in the data files provided to it by the financial intermediaries holding Notes. Accordingly, insofar as such intermediaries do not accurately or completely respond to the survey, or address information is not representative of residency, the information is imperfect.

17. The Geographic Report covers approximately 85% of the outstanding US$600 million principal amount of 2020 Notes

and reports a total of 305 noteholders residing in the following jurisdictions:

(a) 13 in Ontario holding US$31,941,000 principal amount of 2020 Notes; (b) 1 in Alberta holding US$15,000 principal amount of 2020 Notes; (c) 3 in Quebec holding US$100,000 principal amount of 2020 Notes; (d) 248 in the United States holding US$430,677,500 principal amount of 2020 Notes; and (e) 40 in unknown jurisdictions holding US$49,401,000 principal amount of 2020 Notes through US financial

intermediaries. 18. The Canadian holders of the 2020 Notes represent approximately 5% of the total principal amount of the 2020 Notes

outstanding or approximately 6% of the principal amount of the 2020 Notes reported. Extrapolating these numbers across the full US$600 million principal amount of 2020 Notes outstanding would imply a total of 20 Canadian holders of 2020 Notes.

19. The Geographic Report covers approximately 96% of the outstanding US$500 million principal amount of 2022 Notes

and reports a total of 355 noteholders residing in the following jurisdictions:

(a) 17 in Ontario holding US$23,040,000 principal amount of 2022 Notes; (b) 282 in the United States holding US$403,056,000 principal amount of 2022 Notes; and (c) 56 in unknown jurisdictions holding US$54,736,000 principal amount of 2022 Notes through US financial

intermediaries. 20. The Canadian holders of the 2022 Notes represent approximately 5% of the total principal amount of the 2022 Notes

outstanding and approximately 5% of the principal amount of the 2022 Notes reported. Extrapolating these numbers across the full US$600 million principal amount of 2022 Notes outstanding would imply a total of 18 Canadian holders of 2022 Notes.

21. The Filer is applying for a decision from each of the Jurisdictions that it cease to be a reporting issuer in that

Jurisdiction. If each of the Decision Makers grants the requested relief, the Filer will no longer be a reporting issuer in any jurisdiction of Canada.

22. The Filer has no intention to seek a financing by way of an offering of securities. 23. The Filer is not eligible to use the simplified procedure under CSA Staff Notice 12-307 Applications for a Decision that

an Issuer is not a Reporting Issuer because its outstanding securities, including debt securities, are beneficially owned, directly or indirectly, by more than 15 securityholders in a jurisdiction in Canada and by more than 51 securityholders in


April 9, 2015

(2015), 38 OSCB 3348

total worldwide. The Filer could not surrender its status as a reporting issuer in British Columbia under British Columbia Instrument 11-502 Voluntary Surrender of Reporting Issuer Status because the Filer has more than 50 securityholders.

24. No securities of the Filer, including debt securities, are traded in Canada or another country on a marketplace as

defined in National Instrument 21-101 Marketplace Operation or any other facility for bringing together buyers and sellers of securities where trading data is publicly reported.

Decision Each of the Decision Makers is satisfied that the decision meets the test set out in the Legislation for the Decision Maker to make the Decision. The decision of the Decision Makers under the Legislation is that the Exemptive Relief Sought is granted. “Tom Graham” Director, Corporate Finance


April 9, 2015

(2015), 38 OSCB 3349

2.1.4 DTCC Data Repository (U.S.) LLC – s. 42 of the OSC Rule 91-507 Trade Repositories and Derivatives Data Reporting

Headnote DTCC Data Repository (U.S.) LLC (DDR) was granted relief until March 31, 2015 from subsection 39(1) of OSC Rule 91-507 which requires a designated TR to provide to the public on a periodic basis aggregate data on open positions, volume, number, and where applicable price, relating to the transactions reported to it. This relief was extended to June 2, 2015 on a partial basis. Applicable Legislative Provision OSC Rule 91-507 Trade Repositories and Derivatives Data Reporting, ss. 39(1), 42.

VARIATION OF DIRECTOR’S EXEMPTION


R.S.O. 1990, c. S.5, AS AMENDED (THE ACT)

AND

IN THE MATTER OF

DTCC DATA REPOSITORY (U.S.) LLC

DECISION (Section 42 of OSC Rule 91-507 Trade Repositories and Derivatives Data Reporting)

WHEREAS the Ontario Securities Commission (Commission) issued an order (Designation Order) dated September 19, 2014 pursuant to section 21.2.2 of the Act designating DTCC Data Repository (U.S.) LLC (DDR) as a trade repository in Ontario; AND WHEREAS pursuant to its designation as a trade repository under section 21.2.2 of the Act DDR is subject to OSC Rule 91-507 Trade Repositories and Derivatives Data Reporting (OSC Rule 91-507) and the terms and conditions of its designation order; AND WHEREAS an application was made by DDR to the Director in connection with its application for designation seeking exemption from the requirements under each of subsections 4(1), 5(1), 17(5), 20(2), 20(4), 20(5) and 39(1) of OSC Rule 91-507; AND WHEREAS, the Director was satisfied that it would not be prejudicial to the public interest to exempt DDR from the requirements under each of subsections 4(1), 5(1), 17(5), 20(2), 20(4), 20(5) and 39(1) of OSC Rule 91-507 and, pursuant to section 42 of OSC Rule 91-507, issued a decision dated September 19, 2014 exempting DDR from these requirements (Exemption Decision), attached as a schedule to the Designation Order; AND WHEREAS the exemption granted in respect of subsection 39(1) of OSC Rule 91-507 with respect to creating and making available to the public aggregate data on volume, number (of transactions) and, where applicable, price, relating to the transactions reported to it is temporary and will terminate on March 31, 2015 unless varied by a decision of the Director; AND WHEREAS DDR has made an application pursuant to section 42 of OSC Rule 91-507 requesting that the Director vary the Exemption Decision in order to extend DDR’s temporary exemption from the requirements under subsection 39(1) of the Act in order to accommodate the additional time required by DDR to develop the appropriate capabilities to deliver public reports which are responsive to complexities with respect to how data is currently reported to DDR by market participants; AND WHEREAS the Director has considered DDR’s application and other factors; AND WHEREAS the Director has determined that it is not prejudicial to the public interest to issue a decision to vary the Exemption Decision, in part, to extend DDR's temporary exemption from the requirements under subsection 39(1) of OSC Rule 91-507 in respect of making available to the public aggregate data on number of transactions; IT IS THE DECISION of the Director that, pursuant to section 42 of Rule 91-507, the Exemption Decision be varied by replacing the reference to “March 31, 2015” with “June 2, 2015” in respect of making available to the public aggregate data on number of transactions.


April 9, 2015

(2015), 38 OSCB 3350

DATED March 31, 2015. “Susan Greenglass” Director, Market Regulation Branch


April 9, 2015

(2015), 38 OSCB 3351

2.1.5 Israel Chemicals Ltd. Headnote National Policy 11-203 Process for Exemptive Relief Applications in Multiple Jurisdictions – National Instrument 43-101 Standards of Disclosure for Mineral Projects, s. 9.1 – National Instrument 51-102 Continuous Disclosure Obligations, s. 13.1 – non-reporting issuer seeking relief from the requirement to file a technical report and provide disclosure relating to issuer’s material mineral projects – issuer announced arrangement agreement with Canadian reporting issuer pursuant to which securities of the non-reporting issuer will only be offered to one US securityholder – relief granted subject to conditions. Applicable Legislative Provisions National Instrument 43-101 Standards of Disclosure for

Mineral Projects, ss. 4.1(1), 4.2(c) and 9.1 National Instrument 51-102 Continuous Disclosure

Obligations, s 13.1; Form 51-102F5, s. 14.2.

April 1, 2015


ONTARIO (the Jurisdiction)

AND

IN THE MATTER OF


AND

IN THE MATTER OF

ISRAEL CHEMICALS LTD. (the Filer)

DECISION

Background The principal regulator in the Jurisdiction has received an application from the Filer for a decision under the securities legislation of the Jurisdiction of the principal regulator (the Legislation) exempting the Filer, pursuant to section 9.1 of National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101), from the Filer’s obligation to: (i) file a technical report pursuant to subsection 4.2(1)(c) of NI 43-101 and comply with disclosure obligations relating to its material mineral projects under section 14.2 of Form 51-102F5 Information Circular (Form 51-102F5) and file a certificate of qualified persons under NI 43-101 in connection therewith (the Section 4.2 Exemptive Relief Requested); and (ii) to file a technical report pursuant to section 4.1 of NI 43-101 and file a certificate of qualified persons under NI 43-101 in connection therewith (the Section 4.1 Exemptive Relief Requested, and together

with the Section 4.2 Exemptive Relief Requested, the Total Exemptive Relief Requested). Under the Process for Exemptive Relief Applications in Multiple Jurisdictions (for a passport application): (a) the Ontario Securities Commission is the principal

regulator for this application; and (b) the Filer has provided notice that subsection

4.7(1) of Multilateral Instrument 11-102 Passport System (MI 11-102) is intended to be relied upon in each of British Columbia, Alberta, Saskatch-ewan, Manitoba, Québec, New Brunswick, Prince Edward Island, Nova Scotia, Newfoundland and Labrador, the Yukon Territory, the Northwest Territories and Nunavut.

Interpretation Terms defined in National Instrument 14-101 Definitions and MI 11-102 have the same meaning if used in this decision, unless otherwise defined. Representations This decision is based on the following facts represented by the Filer: 1. The Filer is a limited liability company under the

laws of Israel. Its registered and head office is in Tel-Aviv, Israel, and it operates through subsidiaries domiciled primarily in Israel, Netherlands, United Kingdom, Spain, China, Brazil, the United States and Germany.

2. The ordinary shares of the Filer (Ordinary

Shares) are listed on the Tel Aviv Stock Exchange and the New York Stock Exchange (NYSE). The Filer is a “foreign private issuer” under U.S. securities laws and is in compliance with the securities laws of Israel and the United States.

3. The Filer is not a reporting issuer in any of the

provinces or territories of Canada and is not in default of the securities legislation in any of such jurisdictions.

4. The Filer is a specialty minerals company that

extracts raw materials and processes and formulates products primarily to customers in three end-markets: agriculture, food and engin-eered materials. The Filer’s principal assets include (i) potash and bromine mines or concessions in the Dead Sea and related production facilities, (ii) potash concessions or permits in the United Kingdom and Spain and related facilities, (iii) phosphate permits in Israel and related facilities, (iv) bromine compounds processing facilities in Israel, the Netherlands and China, and (v) a global logistics and distribution network with operations in over 30 countries.


April 9, 2015

(2015), 38 OSCB 3352

5. The Filer is subject to the regulatory oversight of the securities regulators of the U.S. The Filer’s disclosure of scientific and technical information related to the Filer’s mineral projects is in compliance with the laws of the U.S. and Israel, including SEC Industry Guide 7 (as defined in NI 43-101).

6. In 2014, approximately 40% of net sales of the

Filer related to minerals that were extracted from the Dead Sea. The Dead Sea contains a supply of raw materials that is, for all practical purposes, unlimited. The Filer has not prepared an assessment of reserves or resources with respect to its Dead Sea concessions. The Filer, in consultation with its U.S. counsel and DMT Consulting Limited, an independent third party, determined that the Dead Sea mineral concession did not constitute a “reserve” under SEC Industry Guide 7, as the concession to distill minerals from the water is not a mineral deposit, and the definition of reserve under SEC Industry Guide 7 only applies to mineral deposits. Similarly, NI 43-101 does not apply to the extraction of minerals from water above the ground.

7. With respect to all concessions and permits, other

than the Dead Sea, the Filer bases its mineral reserve estimates on engineering, economic and geological data assembled and analyzed by its engineers and geologists. Reserves are categorized in accordance with SEC Industry Guide 7. The Filer is not required to, and does not, publish resource estimates as SEC Industry Guide 7 does not apply to resources. In addition, the Filer does not have third parties prepare reports that would conform to NI 43-101.

8. Allana Potash Corp. (Allana) is governed by the

Business Corporations Act (Ontario), and its registered and head office is in Toronto, Ontario.

9. The authorized capital of Allana consists of an

unlimited number of common shares (Allana Shares), of which 325,225,006 Allana Shares were issued and outstanding as at March 26, 2015. Options (Options) entitling the holders thereof to acquire an aggregate of 17,902,500 Allana Shares were issued and outstanding on March 26, 2015.

10. The Allana Shares are currently listed on the

Toronto Stock Exchange. 11. Allana is a reporting issuer in all the provinces of

Canada except Québec (the Allana Jurisdictions) and is not in default of the securities legislation in any of the Allana Jurisdictions.

12. Allana is a mineral exploration corporation with a

focus on the acquisition and development of

potash assets internationally. Its principal asset is its Danakhil potash property in Ethiopia.

13. On March 26, 2015, the Filer and Allana

announced that they had entered into an arrangement agreement (the Arrangement Agreement) pursuant to which the Filer will, through a wholly-owned subsidiary and subject to certain conditions, acquire all of the issued and outstanding Allana Shares not already owned by a subsidiary of the Filer in consideration for $0.50 per Allana Share (the Arrangement).

14. Each shareholder of Allana (an Allana

Shareholder), other than Liberty Metals and Mining Holdings, LLC, a member of Liberty Mutual Group that is a Delaware member-managed, limited liability company with its head office in the U.S. and which holds approximately 11.87% of the issued and outstanding Allana Shares (LMM), will receive the consideration in cash and LMM will receive the consideration in Ordinary Shares (the Share Consideration). The Share Consideration will be $0.50 per Allana Share held by LMM calculated using the price equal to the average of the volume weighted average trading price of the Ordinary Shares on the NYSE for each of the five trading days in the period immediately prior to (and excluding) the business day prior to the effective date of the Arrangement (the Effective Date) (which average price will be converted into Canadian dollars based on the Bank of Canada noon rate as of such business day immediately prior to the Effective Date).

15. Holders of Options (Allana Optionholders) will

receive cash equal to the difference between $0.50 and the exercise price of each Option held. Where the exercise price is equal to or greater than $0.50, such Options will be cancelled without the payment of any consideration.

16. The terms of the Arrangement will be submitted

for approval at a meeting of Allana Shareholders and Allana Optionholders: (i) requiring the approval of 66 2/3% of the votes cast in person or by proxy of Allana Shareholders and Allana Optionholders, voting as a single class; and (ii) in accordance with the requirements of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (MI 61-101), pursuant to which, among other things, the votes of any “interested party” as defined under MI 61-101, including for greater certainty the Filer, the Chief Executive Officer of Allana and LMM, will not be counted in determining whether shareholder approval of the Arrangement is obtained.

17. Pursuant to the Legislation, in connection with the

Arrangement, the Filer: (i) would be required to file a technical report under subsection 4.2(1)(c) of NI 43-101, and comply with certain disclosure obligations relating to its material mineral projects


April 9, 2015

(2015), 38 OSCB 3353

in the information circular pertaining to the Arrangement (the Allana Information Circular) pursuant to section 14.2 of Form 51-102F5 and file a certificate of qualified persons under NI 43-101 related thereto; and (ii) in connection with the Filer becoming a reporting issuer in the Allana Jurisdictions upon the closing of the Arrangement, would be required to file a technical report for each of its material mineral projects under section 4.1 of NI 43-101 and file a certificate of qualified persons under NI 43-101 related thereto.

18. If the Share Consideration was not being offered

to LMM: (i) the obligation of the Filer to file a technical report and comply with certain disclosure obligations relating to its material mineral projects in connection with the Allana Information Circular would not be required; and (ii) the Filer would not become a reporting issuer under the Legislation and would therefore not be required to file a technical report for each of its material mineral projects.

19. The Filer intends to submit an application to obtain

discretionary exemptive relief, effective following the closing of the Arrangement, from the securities regulatory authority or regulator of each of the Allana Jurisdictions to deem the Filer to have ceased to be a reporting issuer in the Allana Jurisdictions (the Reporting Issuer Exemptive Relief).

20. The disclosure relating to the Filer to be included

in the Allana Information Circular will be prepared substantially in compliance with disclosure requirements in the United States.

21. The Filer believes that the Allana Information

Circular will provide sufficient information about the Filer and the terms of the Arrangement to enable a reasonable Allana Shareholder to make an informed voting decision on whether to approve the Arrangement.

22. LMM has confirmed to the Filer that it does not

object to the Total Exemptive Relief Requested. Decision The principal regulator is satisfied that the decision meets the test set out in the Legislation for the principal regulator to make the decision. The decision of the principal regulator under the Legislation is that: 1. the Section 4.2 Exemptive Relief Requested is

granted; and 2. the Section 4.1 Exemptive Relief Requested is

granted provided that the Arrangement is completed and the Filer obtains the Reporting

Issuer Exemptive Relief within 45 days of the Effective Date.

“Kathryn Daniels” Deputy Director Corporate Finance Branch Ontario Securities Commission


April 9, 2015

(2015), 38 OSCB 3354

2.1.6 Qwest Energy Financial Corp. – s. 1(10)(a)(ii) Headnote National Policy 11-203 Process for Exemptive Relief Applications in Multiple Jurisdictions – Issuer deemed to no longer be a reporting issuer under securities legislation. Applicable Legislative Provisions Securities Act, R.S.O. 1990, c. S.5, as am., s. 1(10)(a)(ii). April 7, 2015 Qwest Energy Financial Corp. 310-650 West Georgia Street Vancouver, BC V6B 4N7 Dear Sirs/Mesdames: Re: Qwest Energy Financial Corp. (the Applicant) –

application for a decision under the securities legislation of Ontario, Alberta, Manitoba, New Brunswick, Nova Scotia and Saskatchewan (the Jurisdictions) that the Applicant is not a reporting issuer

The Applicant has applied to the local securities regulatory authority or regulator (the Decision Maker) in each of the Jurisdictions for a decision under the securities legislation (the Legislation) of the Jurisdictions that the Applicant is not a reporting issuer. In this decision, “securityholder” means, for a security, the beneficial owner of the security. The Applicant has represented to the Decision Makers that:


(b) no securities of the Applicant, including

debt securities, are traded in Canada or another country on a marketplace as defined in National Instrument 21-101 Marketplace Operation or any other facility for bringing together buyers and sellers of securities where trading data is publicly reported;

(c) the Applicant is applying for a decision

that it is not a reporting issuer in all of the jurisdictions of Canada in which it is currently a reporting issuer; and

(d) the Applicant is not in default of any of its

obligations under the Legislation as a reporting issuer.

Each of the Decision Makers is satisfied that the test contained in the Legislation that provides the Decision Maker with the jurisdiction to make the decision has been met and orders that the Applicant is not a reporting issuer. “Sonny Randhawa” Manager, Corporate Finance Ontario Securities Commission


April 9, 2015

(2015), 38 OSCB 3355

2.1.7 NeuroBioPharm Inc. – s. 1(10)(a)(ii) Headnote National Policy 11-203 Process for Exemptive Relief Applications in Multiple Jurisdictions – Issuer deemed to no longer be a reporting issuer under securities legislation. Applicable Legislative Provisions Securities Act, R.S.O. 1990, c. S.5, as am., s. 1(10)(a)(ii). April 1st, 2015 NeuroBioPharm Inc. 545 Promenade du Centropolis Suite 100 Laval (Québec) H7T 0B3 Dear Sirs/Mesdames: Re: NeuroBioPharm Inc. (the Applicant) –

application for a decision under the securities legislation of Alberta, Manitoba, Saskatch-ewan, Ontario, Québec, Nova Scotia, New Brunswick, Newfoundland and Labrador, Prince Edward Island, Yukon, Northwest Territories and Nunavut (the “Jurisdictions”) that the Applicant is not a reporting issuer

The Applicant has applied to the local securities regulatory authority or regulator (the “Decision Maker”) in each of the Jurisdictions for a decision under the securities legislation (the “Legislation”) of the Jurisdictions that the Applicant is not a reporting issuer. In this decision, “securityholder” means, for a security, the beneficial owner of the security. The Applicant has represented to the Decision Makers that:


(b) no securities of the Applicant, including

debt securities, are traded in Canada or another country on a marketplace as defined in Regulation 21-101 respecting Marketplace Operation or any other facility for bringing together buyers and sellers of securities where trading data is publicly reported;

(c) the Applicant is applying for a decision

that it is not a reporting issuer in all of the jurisdictions of Canada in which it is currently a reporting issuer; and

(d) the Applicant is not in default of any of its obligations under the Legislation as a reporting issuer.

Each of the Decision Makers is satisfied that the test contained in the Legislation that provides the Decision Maker with the jurisdiction to make the decision has been met and orders that the Applicant’s status as a reporting issuer is revoked. “Martin Latulippe” Director, Continuous Disclosure Autorité des marchés financiers


April 9, 2015

(2015), 38 OSCB 3356

2.2 Orders

2.2.1 Satish Talawdekar and Anand Hariharan – ss. 127(1) and 127.1



AND

IN THE MATTER OF SATISH TALAWDEKAR AND ANAND HARIHARAN

IN THE MATTER OF

A SETTLEMENT AGREEMENT BETWEEN STAFF OF THE ONTARIO SECURITIES COMMISSION

AND ANAND HARIHARAN

ORDER (Subsections 127(1) and 127.1)

WHEREAS on March 11, 2015 the Ontario Securities Commission (the “Commission”) issued a Notice of Hearing (the “Notice of Hearing”) pursuant to sections 127 and 127.1 of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”), and Staff of the Commission (“Staff”) filed a statement of allegations (the “Statement of Allegations”) in respect of Anand Hariharan (“Hariharan”); AND WHEREAS Hariharan has entered into a settlement agreement with Staff dated March 11, 2015 (the “Settlement Agreement”) in which Hariharan agreed to a proposed settlement in relation to the matters set out in the Notice of Hearing and the Statement of Allegations;

AND WHEREAS in the Notice of Hearing the Commission announced that it proposed to hold a hearing to consider whether it is in the public interest to approve the Settlement Agreement between Staff and Hariharan;

AND UPON the Commission having reviewed the Notice of Hearing, the Statement of Allegations, and the Settlement Agreement, and having heard submissions from counsel for Hariharan and for Staff;

AND WHEREAS Hariharan has entered into an undertaking as part of the Settlement Agreement whereby he shall make a voluntary payment to the Commission in the amount of $35,000. The voluntary payment described in this paragraph will be designated for allocation or for use by the Commission in accordance with subsections 3.4(2)(b)(i) or (ii) of the Act;

AND WHEREAS the Commission is of the opinion that it is in the public interest to make this Order;

IT IS HEREBY ORDERED THAT: 1. the Settlement Agreement is approved; 2. trading in any securities by Hariharan, including as the term “security” is defined in subsection 76(6) of the Act, whether

direct or indirect, shall cease for a period of 10 years from the date of the order approving the Settlement Agreement; 3. the acquisition of any securities by Hariharan, including as the term “security” is defined in subsection 76(6) of the Act,

whether direct or indirect, is prohibited for a period of 10 years from the date of the order approving the Settlement Agreement;

4. as an exception to the provisions of paragraph two herein, Hariharan is permitted to sell securities in his personal or

joint registered retirement savings plan account for a period of thirty days from the date of the order approving this Settlement Agreement;

5. after the payment set out in paragraph nine herein and the voluntary payment set out in the recital, above, are made by

Hariharan in full, as an exception to the provisions of paragraphs two and three herein:

(i) trading shall be permitted only in:


April 9, 2015

(2015), 38 OSCB 3357

(A) mutual fund, exchange-traded fund or index fund securities, bonds, guaranteed investment certificates, for the account of any registered retirement savings plans, tax free savings accounts and self-directed retirement savings plans in which Hariharan and/or his spouse have sole legal and beneficial ownership, and such trading is carried out through a registered dealer in Canada to whom he must give a copy of this Order at the time he opens or modifies these accounts; and

(B) shares of Jazz Aviation Hariharan is entitled to purchase or is provided as a result of Hariharan’s

employment with Jazz Aviation, and all such trading is carried out through a registered dealer in Canada to whom he must give a copy of this Order at the time he opens or modifies these accounts;

(ii) the acquisition of any securities shall be permitted only in:

(A) mutual fund, exchange-traded fund or index fund securities, bonds, guaranteed investment certificates for the account of any registered retirement savings plans, tax free savings accounts and self-directed retirement savings plans in which Hariharan and/or his spouse have sole legal and beneficial ownership, and such trading is carried out through a registered dealer in Canada to whom he must give a copy of this Order at the time he opens or modifies these accounts; and

(B) shares of Jazz Aviation Hariharan is entitled to purchase or is provided as a result of Hariharan’s

employment with Jazz Aviation, and all such trading is carried out through a registered dealer in Canada to whom he must give a copy of this Order at the time he opens or modifies these accounts.

6. any exemptions contained in Ontario securities law do not apply to Hariharan for a period of 10 years from the date of

the order approving the Settlement Agreement; 7. Hariharan is reprimanded; 8. Hariharan is prohibited for a period of 10 years from the date of the order approving the Settlement Agreement from

becoming or acting as a registrant, an investment fund manager, a promoter, or as a director or officer of any of those entities;

9. Hariharan shall pay investigation costs to the Commission in the amount of $5,000; and 10. Hariharan’s voluntary payment of $35,000 is designated for allocation or for use by the Commission in accordance with

subsections 3.4(2)(b)(i) or (ii) of the Act. DATED at Toronto, this 31st day of March, 2015. “Alan J. Lenczner”


April 9, 2015

(2015), 38 OSCB 3358

2.2.2 Christopher Reaney – s. 8(4)



AND

IN THE MATTER OF CHRISTOPHER REANEY

ORDER

(Subsection 8(4)) WHEREAS on January 13, 2015, the Ontario Securities Commission (the “Commission”) issued a Notice of Hearing pursuant to subsection 8(4) of the Ontario Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”) with respect to Christopher Reaney (the “Applicant”); AND WHEREAS on January 14, 2015, the Commission held a hearing to consider a request made by the Applicant to stay a decision of a Director dated January 5, 2015 (the “Decision”) pending the disposition of the Applicant’s hearing and review of the Decision; AND WHEREAS the Commission reviewed the Applicant’s request for a stay of the Decision; AND WHEREAS the Commission considered submissions from counsel for the Applicant on the Application Record and submissions from counsel for the Applicant and counsel for Staff of the Commission (“Staff”) on relevant case law; AND WHEREAS Staff consented to a stay pending the hearing and review or other order of the Commission on certain terms and conditions; AND WHEREAS upon considering the materials and submissions of the Applicant and of Staff, the Commission was of the opinion that it was in the public interest to grant a stay order with terms and conditions, pursuant to subsection 8(4) of the Act; AND WHEREAS on January 14, 2015, the Commission ordered that: 1. The suspension of the Applicant’s registration

imposed by the Decision is stayed immediately and this order will continue in force until further order of the Commission and in any event not later than March 31, 2015.

2. During the period in which the stay is in effect, the

Applicant’s registration under the Act is subject to the following terms and conditions:

(a) The registration of the Applicant shall be

subject to strict supervision by his sponsoring firm.

(b) The Applicant’s sponsoring firm must submit written monthly strict supervision reports (in the form specified in Appendix “A”) to Staff of the Commission, Attention: Deputy Director, Registrant Conduct Team, Compliance and Registrant Regulation Branch, and also to Staff of the Mutual Fund Dealers Association of Canada (the “MFDA”), Attention: Manager, Compliance. These reports must be submitted within 15 calendar days after the end of each month.

(c) The Applicant must immediately report to

the Commission’s Deputy Director, Registrant Conduct Team, Compliance and Registrant Regulation Branch if he is under investigation by the MFDA or is reprimanded in any way by the MFDA.

(d) If the Applicant processes a transaction

for a client using a document which is signed or initialled by a client and which is not the original version of the document, the Applicant must deliver the original document to his sponsoring firm within one week of the transaction to permit the firm to verify the authenticity of the copied document, including whether the copied document was created using a pre-signed form. If the sponsoring firm finds any irregularity, it will notify Staff of the Commission in writing when it submits its monthly report, referred to above.

(e) The Applicant may not use a limited

trading authorization for any of his clients;

AND WHEREAS on January 28, 2015, the Applicant requested by letter that paragraph 6 of the strict supervision report appended to the January 14, 2015 order as Appendix “A” be revised to reflect the practice of the Applicant’s sponsoring firm; AND WHEREAS Staff indicated that they were content with the Applicant’s requested change to Appendix “A”; AND WHEREAS on February 4, 2015 the Commission granted the Applicant’s request and ordered that the written monthly strict supervision reports to be submitted by the Applicant’s sponsoring firm to Staff of the Commission and the MFDA shall be in the form specified in the revised Appendix “A” to the February 4, 2015 order; AND WHEREAS the hearing and review of the Decision was heard on March 31, 2015; AND WHEREAS the Applicant requested and Staff consented to a continuation of the stay of the Decision


April 9, 2015

(2015), 38 OSCB 3359

pending the release of the Commission’s decision on the hearing and review or further order of the Commission; IT IS HEREBY ORDERED THAT the stay order of January 14, 2015 as varied by the order of February 4, 2015 is continued until the Commission releases its decision on the hearing and review or until further order of the Commission. DATED at Toronto this 31st day of March, 2015. “Timothy Moseley” “Mary G. Condon” “William J. Furlong”

Appendix “A” Strict Supervision Report

I hereby certify that supervision has been conducted for the month ending __________, 201_ of the trading activities of Christopher Reaney (the “Registrant”) by the undersigned. I further certify the following: 1. All orders, both buy and sell, and sales contracts

have been reviewed by a supervising officer of IPC Investment Corporation prior to the trade occurring.

2. All client accounts have been reviewed for

leveraging, suitability of investments, over-concentration of investments, excess trading or switching, and any amendments to know your client information.

3. A review of trading activity on a daily basis has

been conducted of the Registrant’s client accounts.

4. No transactions have been made in any client

account until the full and correct documentation is in place.

5. The Registrant has not been granted any power of

attorney over any client accounts. 6. All payments for the purchase of the investments

were made payable directly to the dealer or a mutual fund company. There were no cash payments accepted.

7. No client complaints have been received during

the preceding month. If there have been complaints, an outline of the nature of the complaint and follow-up action initiated by the company is attached.

8. There has been no handling by the Registrant of

clients’ funds or securities or issuance of cheques to clients without management approval.

9. Any transfer of funds or securities between clients’

accounts has been authorized in writing and reviewed by the supervising officer.

10. Spot audits relative to the Registrant’s client

accounts have been conducted during the preceding month to ensure compliance with these procedures and no violations of these procedures were discovered.


April 9, 2015

(2015), 38 OSCB 3360

2.2.3 Metro Inc. – s. 104(2)(c) Headnote Subsection 104(2)(c) of the Act – Issuer bid – relief from issuer bid requirements in sections 94 to 94.8 and 97 to 98.7 of the Act – Issuer proposes to purchase, at a discounted purchase price, up to 5,250,000 of its common shares from three of its shareholders – due to the discounted purchase price, proposed purchases cannot be made through the TSX trading system – but for the fact that the proposed purchases cannot be made through the TSX trading system, the Issuer could otherwise acquire the subject shares in reliance upon the issuer bid exemption available under section 101.2 of the Act and in accordance with the TSX rules governing normal course issuer bid purchases – the selling shareholders did not purchase the subject shares in anticipation or contemplation of resale to the Issuer and have not, for a minimum of 30 days prior to the date of the applications seeking the relief, purchased common shares of the Issuer in anticipation or contemplation of a sale of common shares to the Issuer – no adverse economic impact on, or prejudice to, the Issuer or public shareholders – proposed purchases exempt from the issuer bid requirements in sections 94 to 94.8 and 97 to 98.7 of the Act, subject to conditions, including that the Issuer not purchase, in the aggregate, more than one-third of the maximum number of shares permitted to be purchased under its normal course issuer bid by way of off-exchange block purchases, and that the Issuer will not make any proposed purchase unless it has first obtained written confirmation that between the date of the order and the date on which the proposed purchase is completed, the selling shareholder has not purchased, had purchased on its behalf, or otherwise accumulated, any common shares of the Issuer to re-establish its holdings of common shares which will have been reduced as a result of the sale of the subject shares pursuant to the proposed purchases between the date of the order and the date on which such proposed purchase is to be completed. Applicable Legislative Provisions Securities Act, R.S.O. 1990, c. S.5, as am., ss. 94 to 94.8, 97 to 98.7 and 104(2)(c).

IN THE MATTER OF THE SECURITIES ACT, R.S.O. 1990, c. S.5, AS AMENDED

(the “Act”)

AND

IN THE MATTER OF METRO INC.

ORDER (Clause 104(2)(c))

UPON the application (the Application) of Metro inc. (the Issuer) to the Ontario Securities Commission (the Commission) for an order pursuant to clause 104(2)(c) of the Act exempting the Issuer from the requirements of sections 94 to 94.8, inclusive, and sections 97 to 98.7, inclusive, of the Act (the Issuer Bid Requirements) in

respect of the proposed purchases by the Issuer of up to 1,140,000 (the Subject Shares) of the Issuer’s common shares (the Common Shares) in one or more trades from The Bank of Nova Scotia (the Selling Shareholder); AND UPON considering the Application and the recommendation of staff of the Commission; AND UPON the Issuer (and the Selling Shareholder in respect of paragraphs 5, 6, 7, 8, 9, 10, 12, 24 and 25, as they relate to the Selling Shareholder) having represented to the Commission that: 1. The Issuer is a corporation governed by the

Business Corporations Act (Québec). 2. The head office and registered office of the Issuer

is at 11011 Maurice-Duplessis Boulevard, Montréal, Quebec, H1C 1V6.

3. The Issuer is a reporting issuer in each of the

provinces of Canada and the Common Shares of the Issuer are listed for trading on the Toronto Stock Exchange (the TSX) under the symbol “MRU”. The Issuer is not in default of any requirement of the securities legislation in the jurisdictions in which it is a reporting issuer.

4. The authorized capital stock of the Issuer consists

of (i) an unlimited number of Common Shares, of which 252,142,075 Common Shares were issued and outstanding as of March 13, 2015; and (ii) an unlimited number of Preferred Shares, none of which are currently issued and outstanding.

5. The corporate headquarters of the Selling

Shareholder are located in the Province of Ontario.

6. The Selling Shareholder does not directly or

indirectly own more than 5% of the issued and outstanding Common Shares.

7. The Selling Shareholder is the beneficial owner of

at least 1,140,000 Common Shares. None of the Subject Shares were acquired by, or on behalf of, the Selling Shareholder in anticipation or contemplation of resale to the Issuer.

8. The Subject Shares are held by the Selling

Shareholder in connection with arrangements to hedge client transactions in respect of the Common Shares. The Selling Shareholder will not purchase, have purchased on its behalf, or otherwise accumulate, any Common Shares to re-establish its holdings of Common Shares which will have been reduced as a result of the sale of the Subject Shares pursuant to the Proposed Purchases (as defined below) between the date of this order and the date on which a Proposed Purchase is to be completed.


April 9, 2015

(2015), 38 OSCB 3361

9. No Common Shares were purchased by, or on behalf of, the Selling Shareholder on or after February 17, 2015, being the date that was 30 days prior to the date of the Application, in anticipation or contemplation of a sale of Common Shares to the Issuer.

10. The Selling Shareholder is at arm’s length to the

Issuer and is not an “insider” of the Issuer or an “associate” of an “insider” of the Issuer, or an “associate” or “affiliate” of the Issuer, as such terms are defined in the Act. The Selling Shareholder is an “accredited investor” within the meaning of National Instrument 45-106 Prospectus and Registration Exemptions.

11. Pursuant to a “Notice of Intention to Make a

Normal Course Issuer Bid” effective September 8, 2014 (the Notice), the Issuer is permitted to make normal course issuer bid (the Normal Course Issuer Bid) purchases for up to 5,700,000 Common Shares, representing approximately 9.9% of the “public float” of Common Shares as of the date specified in the Notice. Following the Issuer’s 3-for-1 stock split effective as of February 12, 2015, the maximum allowable number of Common Shares that the Issuer can purchase under its Normal Course Issuer Bid was increased to 17,100,000 Common Shares. In accordance with the Notice, the Normal Course Issuer Bid is conducted through the facilities of the TSX or such other means as may be permitted by the TSX or a securities regulatory authority, in accordance with sections 628 to 629.3 of Part VI of the TSX Company Manual (the TSX NCIB Rules), including, private agreements under an issuer bid exemption order issued by a securities regulatory authority (each, an Off-Exchange Block Purchase) at a purchase price which is at a discount to the prevailing market price for the Common Shares.

12. The Issuer and the Selling Shareholder intend to

enter into one or more agreements of purchase and sale (each, an Agreement) pursuant to which the Issuer will agree to acquire some or all of the Subject Shares from the Selling Shareholder by one or more purchases each occurring on or before September 9, 2015 (each such purchase, a Proposed Purchase) for a purchase price (each, a Purchase Price in respect of such Proposed Purchase) that will be negotiated at arm’s length between the Issuer and the Selling Shareholder. The Purchase Price, in each case, will be at a discount to the prevailing market price of the Common Shares on the TSX and below the bid-ask price for the Common Shares on the TSX at the time of each Proposed Purchase.

13. The Subject Shares acquired under each

Proposed Purchase will constitute a “block” as that term is defined in section 628 of the TSX NCIB Rules.

14. The purchase of the Subject Shares by the Issuer pursuant to each Agreement will constitute an “issuer bid” for purposes of the Act to which the Issuer Bid Requirements would apply.

15. Because the Purchase Price, in each case, will be

at a discount to the prevailing market price and below the bid-ask price for the Common Shares on the TSX at the time of the applicable Proposed Purchase, the Proposed Purchases cannot be made through the TSX trading system and, therefore, will not occur “through the facilities” of the TSX. As a result, the Issuer will be unable to acquire the Subject Shares from the Selling Shareholder in reliance upon the exemption from the Issuer Bid Requirements that is available pursuant to subsection 101.2(1) of the Act.

16. But for the fact that the Purchase Price will be at a

discount to the prevailing market price and below the bid-ask price for the Common Shares on the TSX at the time of the applicable Proposed Purchase, the Issuer could otherwise acquire the Subject Shares through the facilities of the TSX as a “block purchase” (a Block Purchase) in accordance with the block purchase exception in paragraph 629(l)7 of the TSX NCIB Rules and the exemption from the Issuer Bid Requirements that is available pursuant to subsection 101.2(1) of the Act.

17. The sale of any of the Subject Shares to the

Issuer will not be a “distribution” (as defined in the Act).

18. The Notice contemplates that purchases under the

Normal Course Issuer Bid may be made by such other means as may be permitted by the TSX or a securities regulatory authority, including private agreements made under an issuer bid exemption order issued by a securities regulatory authority.

19. For each Proposed Purchase, the Issuer will be

able to acquire the Subject Shares from the Selling Shareholder without the Issuer being subject to the dealer registration requirements of the Act.

20. The Issuer is of the view that it will be able to

purchase the Subject Shares at a lower price than the price at which it would be able to purchase the Common Shares under the Normal Course Issuer Bid through the facilities of the TSX and the Issuer is of the view that this is an appropriate use of the Issuer’s funds on hand.

21. The purchase of the Subject Shares will not

adversely affect the Issuer or the rights of any of the Issuer’s security holders and it will not materially affect the control of the Issuer. To the knowledge of the Issuer, the Proposed Purchases will not prejudice the ability of other security holders of the Issuer to otherwise sell Common


April 9, 2015

(2015), 38 OSCB 3362

Shares in the open market at the prevailing market price. The Proposed Purchases will be carried out with a minimum of cost to the Issuer.

22. To the best of the Issuer’s knowledge, as of March

13, 2015, the “public float” for the Common Shares represented more than 78% of all issued and outstanding Common Shares for purposes of the TSX NCIB Rules.

23. The Common Shares are “highly liquid securities”

within the meaning of section 1.1 of OSC Rule 48-501 Trading during Distributions, Formal Bids and Share Exchange Transactions and section 1.1 of the Universal Market Integrity Rules.

24. Other than the Purchase Price, no fee or other

consideration will be paid in connection with the Proposed Purchases.

25. At the time that each Agreement is entered into by

the Issuer and the Selling Shareholder and at the time of each Proposed Purchase, neither the Issuer, nor any member of the Global Equity Derivatives and Investor Solutions Group of the Selling Shareholder, nor any personnel of the Selling Shareholder that negotiated the Agreement or made, participated in the making of, or provided advice in connection with, the decision to enter into the Agreement and sell the Subject Shares, will be aware of any “material change” or any “material fact” (each as defined in the Act) in respect of the Issuer that has not been generally disclosed.

26. The Issuer will not make any Proposed Purchase

unless it has first obtained confirmation in writing that the Selling Shareholder has not purchased, had purchased on its behalf, or otherwise accumulated any Common Shares to re-establish its holdings of Common Shares which will have been reduced as a result of the sale of the Subject Shares pursuant to the Proposed Purchases between the date of this order and the date on which such Proposed Purchase is to be completed.

27. Similar orders have been applied for by the Issuer

with the Commission in connection with the proposed acquisition by the Issuer of up to 2,100,000 Common Shares from Canadian Imperial Bank of Commerce (the CIBC Issuer Shares) and up to 2,010,000 Common Shares from BMO Nesbitt Burns Inc. (the BMO Issuer Shares and, together with the CIBC Issuer Shares, the Parallel Order Shares).

28. The Issuer will not purchase, pursuant to Off-

Exchange Block Purchases, in the aggregate, more than one-third of the maximum number of Common Shares that the Issuer can purchase under its Normal Course Issuer Bid, such one-third being equal to 5,700,000 Common Shares as

of the date of this order, taking into account, for greater certainty, the Subject Shares and the Parallel Order Shares.

29. The Issuer will not purchase Common Shares

pursuant to the Proposed Purchases during designated blackout periods designated and administered in accordance with the Issuer’s corporate policies.

30. Assuming completion of the purchase of the

Subject Shares and the Parallel Order Shares, the Issuer will have purchased under the Normal Course Issuer Bid an aggregate of 5,250,000 Common Shares pursuant to Off-Exchange Block Purchases, representing approximately 30.1% of the 17,000,000 Common Shares authorized to be purchased under the Normal Course Issuer Bid.

AND UPON the Commission being satisfied that to do so would not be prejudicial to the public interest; IT IS ORDERED pursuant to clause 104(2)(c) of the Act that the Issuer be exempt from the Issuer Bid Requirements in connection with each Proposed Purchase, provided that:

a) the Proposed Purchases will be taken into account by the Issuer when calculating the maximum annual aggregate limit that is imposed upon the Issuer’s Normal Course Issuer Bid in accordance with the TSX NCIB Rules;

b) the Issuer will refrain from conducting a

Block Purchase in accordance with the TSX NCIB Rules or another Off-Exchange Block Purchase during the calendar week that it completes any Proposed Purchase and will not make any further purchases under the Normal Course Issuer Bid for the remainder of the calendar day on which it completes each Proposed Purchase;

c) the Purchase Price in respect of each

Proposed Purchase will be at a discount to the last “independent trade” (as that term is used in paragraph 629(l)1 of the TSX NCIB Rules) of a board lot of Common Shares immediately prior to the execution of such Proposed Purchase;

d) the Issuer will otherwise acquire any

additional Common Shares pursuant to the Normal Course Issuer Bid and in accordance with the Notice and the TSX NCIB Rules, as applicable subject to condition i) below;

e) immediately following each Proposed

Purchase of Subject Shares from the Selling Shareholder, the Issuer will report


April 9, 2015

(2015), 38 OSCB 3363

the purchase of such Subject Shares to the TSX;

f) at the time that each Agreement is

entered into by the Issuer and the Selling Shareholder and at the time of each Proposed Purchase, neither the Issuer, nor any member of the Global Equity Derivatives and Investor Solutions Group of the Selling Shareholder, nor any personnel of the Selling Shareholder that negotiated the Agreement or made, participated in the making of, or provided advice in connection with, the decision to enter into the Agreement and sell the Subject Shares, will be aware of any “material change” or any “material fact” (each as defined in the Act) in respect of the Issuer that has not been generally disclosed;

g) in advance of the first Proposed

Purchase, the Issuer will issue a press release disclosing (i) its intention to make the Proposed Purchases and (ii) that information regarding each Proposed Purchase, including the number of Common Shares purchased and the aggregate Purchase Price, will be available on the System for Electronic Document Analysis and Retrieval (SEDAR) following the completion of each such Proposed Purchase;

h) the Issuer will report information

regarding each Proposed Purchase, including the number of Common Shares purchased and the aggregate Purchase Price, on SEDAR before 5:00 p.m. (Toronto time) on the business day following such Proposed Purchase;

i) the Issuer does not purchase, pursuant

to Off-Exchange Block Purchases, in the aggregate, more than one-third of the maximum number of Common Shares the Issuer can purchase under the Normal Course Issuer Bid, such one third being equal to, as of the date of this order, 5,700,000 Common Shares; and

j) the Issuer will not make any Proposed

Purchase unless it has first obtained confirmation in writing that the Selling Shareholder has not purchased, had purchased on its behalf or otherwise accumulated any Common Shares to re-establish its holdings of Common Shares which will have been reduced as a result of the sale of the Subject Shares pursuant to the Proposed Purchases between the date of this order and the

date on which such Proposed Purchase is to be completed.

DATED at Toronto this 31st day of March 2015. “Judith Robertson” Commissioner Ontario Securities Commission “Deborah Leckman” Commissioner Ontario Securities Commission


April 9, 2015

(2015), 38 OSCB 3364

2.2.4 Metro Inc. – s. 104(2)(c) Headnote Subsection 104(2)(c) of the Act – Issuer bid – relief from issuer bid requirements in sections 94 to 94.8 and 97 to 98.7 of the Act – Issuer proposes to purchase, at a discounted purchase price, up to 5,250,000 of its common shares from three of its shareholders – due to the discounted purchase price, proposed purchases cannot be made through the TSX trading system – but for the fact that the proposed purchases cannot be made through the TSX trading system, the Issuer could otherwise acquire the subject shares in reliance upon the issuer bid exemption available under section 101.2 of the Act and in accordance with the TSX rules governing normal course issuer bid purchases – the selling shareholders did not purchase the subject shares in anticipation or contemplation of resale to the Issuer and have not, for a minimum of 30 days prior to the date of the applications seeking the relief, purchased common shares of the Issuer in anticipation or contemplation of a sale of common shares to the Issuer – no adverse economic impact on, or prejudice to, the Issuer or public shareholders – proposed purchases exempt from the issuer bid requirements in sections 94 to 94.8 and 97 to 98.7 of the Act, subject to conditions, including that the Issuer not purchase, in the aggregate, more than one-third of the maximum number of shares permitted to be purchased under its normal course issuer bid by way of off-exchange block purchases, and that the Issuer will not make any proposed purchase unless it has first obtained written confirmation that between the date of the order and the date on which the proposed purchase is completed, the selling shareholder has not purchased, had purchased on its behalf, or otherwise accumulated, any common shares of the Issuer to re-establish its holdings of common shares which will have been reduced as a result of the sale of the subject shares pursuant to the proposed purchases between the date of the order and the date on which such proposed purchase is to be completed. Applicable Legislative Provisions Securities Act, R.S.O. 1990, c. S.5, as am., ss. 94 to 94.8,

97 to 98.7 and 104(2)(c).


R.S.O. 1990, c. S.5, AS AMENDED (the “Act”)

AND

IN THE MATTER OF

METRO INC.


UPON the application (the Application) of Metro inc. (the Issuer) to the Ontario Securities Commission (the Commission) for an order pursuant to clause 104(2)(c) of the Act exempting the Issuer from the requirements of

sections 94 to 94.8, inclusive, and sections 97 to 98.7, inclusive, of the Act (the Issuer Bid Requirements) in respect of the proposed purchases by the Issuer of up to 2,100,000 (the Subject Shares) of the Issuer’s common shares (the Common Shares) in one or more trades from Canadian Imperial Bank of Commerce (the Selling Shareholder); AND UPON considering the Application and the recommendation of staff of the Commission; AND UPON the Issuer (and the Selling Shareholder in respect of paragraphs 5, 6, 7, 8, 9, 10, 12, 24 and 25, as they relate to the Selling Shareholder) having represented to the Commission that: 1. The Issuer is a corporation governed by the














Shareholder in connection with arrangements to hedge client transactions in respect of the Common Shares. The Selling Shareholder will not purchase, have purchased on its behalf, or otherwise accumulate, any Common Shares to re-establish its holdings of Common Shares which will have been reduced as a result of the sale of the Subject Shares pursuant to the Proposed Purchases (as defined below) between the date of


April 9, 2015

(2015), 38 OSCB 3365

this order and the date on which a Proposed Purchase is to be completed.

9. No Common Shares were purchased by, or on

behalf of, the Selling Shareholder on or after February 17, 2015, being the date that was 30 days prior to the date of the Application, in anticipation or contemplation of a sale of Common Shares to the Issuer.







13. The Subject Shares acquired under each Proposed Purchase will constitute a “block” as that term is defined in section 628 of the TSX NCIB Rules.

14. The purchase of the Subject Shares by the Issuer

pursuant to each Agreement will constitute an “issuer bid” for purposes of the Act to which the Issuer Bid Requirements would apply.














adversely affect the Issuer or the rights of any of


April 9, 2015

(2015), 38 OSCB 3366

the Issuer’s security holders and it will not materially affect the control of the Issuer. To the knowledge of the Issuer, the Proposed Purchases will not prejudice the ability of other security holders of the Issuer to otherwise sell Common Shares in the open market at the prevailing market price. The Proposed Purchases will be carried out with a minimum of cost to the Issuer.








the Issuer and the Selling Shareholder and at the time of each Proposed Purchase, neither the Issuer, nor any member of the Canadian Equity Derivative Trading Group of the Selling Shareholder, nor any personnel of the Selling Shareholder that negotiated the Agreement or made, participated in the making of, or provided advice in connection with, the decision to enter into the Agreement and sell the Subject Shares, will be aware of any “material change” or any “material fact” (each as defined in the Act) in respect of the Issuer that has not been generally disclosed.




with the Commission in connection with the proposed acquisition by the Issuer of up to 1,140,000 Common Shares from The Bank of Nova Scotia (the Scotia Issuer Shares) and up to 2,010,000 Common Shares from BMO Nesbitt Burns Inc. (the BMO Issuer Shares and, together with the Scotia Issuer Shares, the Parallel Order Shares).

28. The Issuer will not purchase, pursuant to Off-Exchange Block Purchases, in the aggregate, more than one-third of the maximum number of Common Shares that the Issuer can purchase under its Normal Course Issuer Bid, such one-third being equal to 5,700,000 Common Shares as of the date of this order, taking into account, for greater certainty, the Subject Shares and the Parallel Order Shares.












additional Common Shares pursuant to the Normal Course Issuer Bid and in accordance with the Notice and the TSX


April 9, 2015

(2015), 38 OSCB 3367

NCIB Rules, as applicable, subject to condition i) below;


Purchase of Subject Shares from the Selling Shareholder, the Issuer will report the purchase of such Subject Shares to the TSX;


entered into by the Issuer and the Selling Shareholder and at the time of each Proposed Purchase, neither the Issuer, nor any member of the Canadian Equity Derivative Trading Group of the Selling Shareholder, nor any personnel of the Selling Shareholder that negotiated the Agreement or made, participated in the making of, or provided advice in connection with, the decision to enter into the Agreement and sell the Subject Shares, will be aware of any “material change” or any “material fact” (each as defined in the Act) in respect of the Issuer that has not been generally disclosed;








Purchase unless it has first obtained confirmation in writing that the Selling Shareholder has not purchased, had purchased on its behalf or otherwise accumulated any Common Shares to re-

establish its holdings of Common Shares which will have been reduced as a result of the sale of the Subject Shares pursuant to the Proposed Purchases between the date of this order and the date on which such Proposed Purchase is to be completed.



April 9, 2015

(2015), 38 OSCB 3368

2.2.5 Metro Inc. – s. 104(2)(c) Headnote Subsection 104(2)(c) of the Act – Issuer bid – relief from issuer bid requirements in sections 94 to 94.8 and 97 to 98.7 of the Act – Issuer proposes to purchase, at a discounted purchase price, up to 5,250,000 of its common shares from three of its shareholders – due to the discounted purchase price, proposed purchases cannot be made through the TSX trading system –but for the fact that the proposed purchases cannot be made through the TSX trading system, the Issuer could otherwise acquire the subject shares in reliance upon the issuer bid exemption available under section 101.2 of the Act and in accordance with the TSX rules governing normal course issuer bid purchases – the selling shareholders did not purchase the subject shares in anticipation or contemplation of resale to the Issuer and have not, for a minimum of 30 days prior to the date of the applications seeking the relief, purchased common shares of the Issuer in anticipation or contemplation of a sale of common shares to the Issuer – no adverse economic impact on, or prejudice to, the Issuer or public shareholders – proposed purchases exempt from the issuer bid requirements in sections 94 to 94.8 and 97 to 98.7 of the Act, subject to conditions, including that the Issuer not purchase, in the aggregate, more than one-third of the maximum number of shares permitted to be purchased under its normal course issuer bid by way of off-exchange block purchases, and that the Issuer will not make any proposed purchase unless it has first obtained written confirmation that between the date of the order and the date on which the proposed purchase is completed, the selling shareholder has not purchased, had purchased on its behalf, or otherwise accumulated, any common shares of the Issuer to re-establish its holdings of common shares which will have been reduced as a result of the sale of the subject shares pursuant to the proposed purchases between the date of the order and the date on which such proposed purchase is to be completed. Applicable Legislative Provisions Securities Act, R.S.O. 1990, c. S.5, as am., ss. 94 to 94.8,

97 to 98.7 and 104(2)(c).


R.S.O. 1990, c. S.5, AS AMENDED (the “Act”)

AND

IN THE MATTER OF

METRO INC.


UPON the application (the Application) of Metro inc. (the Issuer) to the Ontario Securities Commission (the Commission) for an order pursuant to clause 104(2)(c) of the Act exempting the Issuer from the requirements of

sections 94 to 94.8, inclusive, and sections 97 to 98.7, inclusive, of the Act (the Issuer Bid Requirements) in respect of the proposed purchases by the Issuer of up to 2,010,000 (the Subject Shares) of the Issuer’s common shares (the Common Shares) in one or more trades from BMO Nesbitt Burns Inc. (the Selling Shareholder); AND UPON considering the Application and the recommendation of staff of the Commission; AND UPON the Issuer (and the Selling Shareholder in respect of paragraphs 5, 6, 7, 8, 9, 10, 12, 24 and 25, as they relate to the Selling Shareholder) having represented to the Commission that: 1. The Issuer is a corporation governed by the














Shareholder in connection with arrangements to hedge client transactions in respect of the Common Shares. The Selling Shareholder will not purchase, have purchased on its behalf, or otherwise accumulate, any Common Shares to re-establish its holdings of Common Shares which will have been reduced as a result of the sale of the Subject Shares pursuant to the Proposed Purchases (as defined below) between the date of this order and the date on which a Proposed Purchase is to be completed.


April 9, 2015

(2015), 38 OSCB 3369

9. No Common Shares were purchased by, or on behalf of, the Selling Shareholder on or after February 17, 2015, being the date that was 30 days prior to the date of the Application, in anticipation or contemplation of a sale of Common Shares to the Issuer.







13. The Subject Shares acquired under each

Proposed Purchase will constitute a “block” as that term is defined in section 628 of the TSX NCIB Rules.

14. The purchase of the Subject Shares by the Issuer pursuant to each Agreement will constitute an “issuer bid” for purposes of the Act to which the Issuer Bid Requirements would apply.














adversely affect the Issuer or the rights of any of the Issuer’s security holders and it will not materially affect the control of the Issuer. To the knowledge of the Issuer, the Proposed Purchases will not prejudice the ability of other security holders of the Issuer to otherwise sell Common


April 9, 2015

(2015), 38 OSCB 3370

Shares in the open market at the prevailing market price. The Proposed Purchases will be carried out with a minimum of cost to the Issuer.








the Issuer and the Selling Shareholder and at the time of each Proposed Purchase, neither the Issuer, nor any member of the Trading Products Group of the Selling Shareholder, nor any personnel of the Selling Shareholder that negotiated the Agreement or made, participated in the making of, or provided advice in connection with, the decision to enter into the Agreement and sell the Subject Shares, will be aware of any “material change” or any “material fact” (each as defined in the Act) in respect of the Issuer that has not been generally disclosed.




with the Commission in connection with the proposed acquisition by the Issuer of up to 2,100,000 Common Shares from Canadian Imperial Bank of Commerce (the CIBC Issuer Shares) and up to 1,140,000 Common Shares from The Bank of Nova Scotia (the Scotia Issuer Shares and, together with the CIBC Issuer Shares, the Parallel Order Shares).

28. The Issuer will not purchase, pursuant to Off-

Exchange Block Purchases, in the aggregate, more than one-third of the maximum number of Common Shares that the Issuer can purchase under its Normal Course Issuer Bid, such one-third being equal to 5,700,000 Common Shares as of the date of this order, taking into account, for

greater certainty, the Subject Shares and the Parallel Order Shares.












additional Common Shares pursuant to the Normal Course Issuer Bid and in accordance with the Notice and the TSX NCIB Rules, as applicable, subject to condition i) below;


Purchase of Subject Shares from the Selling Shareholder, the Issuer will report


April 9, 2015

(2015), 38 OSCB 3371

the purchase of such Subject Shares to the TSX;


entered into by the Issuer and the Selling Shareholder and at the time of each Proposed Purchase, neither the Issuer, nor any member of the Trading Products Group of the Selling Shareholder, nor any personnel of the Selling Shareholder that negotiated the Agreement or made, participated in the making of, or provided advice in connection with, the decision to enter into the Agreement and sell the Subject Shares, will be aware of any “material change” or any “material fact” (each as defined in the Act) in respect of the Issuer that has not been generally disclosed;








Purchase unless it has first obtained confirmation in writing that the Selling Shareholder has not purchased, had purchased on its behalf or otherwise accumulated any Common Shares to re-establish its holdings of Common Shares which will have been reduced as a result of the sale of the Subject Shares pursuant to the Proposed Purchases between the date of this order and the date on which such Proposed Purchase is to be completed.



April 9, 2015

(2015), 38 OSCB 3372

2.2.6 Quadrexx Hedge Capital Management Ltd. et al. – Rule 6.7 of the Commission’s Rules of Procedure

IN THE MATTER OF


AND

IN THE MATTER OF

QUADREXX HEDGE CAPITAL MANAGEMENT LTD., QUADREXX SECURED ASSETS INC., MIKLOS NAGY

and TONY SANFELICE

ORDER (Pre-hearing conference – Rule 6.7 of the

Commission’s Rules of Procedure) WHEREAS on January 31, 2014, the Ontario Securities Commission (the “Commission”) issued a Notice of Hearing pursuant to sections 127 and 127.1 of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”) accompanied by a Statement of Allegations dated January 30, 2014 with respect to Quadrexx Hedge Capital Management Ltd. (“QHCM”), Quadrexx Secured Assets Inc. (“QSA”), Miklos Nagy (“Nagy”) and Tony Sanfelice (“Sanfelice”) (collectively, the “Respondents”); AND WHEREAS on February 20, 2014, the Commission ordered the hearing be adjourned to April 17, 2014 at 9:30 a.m. for the purpose of scheduling a date for a confidential pre-hearing conference as may be appropriate; AND WHEREAS on April 17, 2014, Staff, counsel for QHCM, QSA and Nagy and counsel for Sanfelice attended before the Commission; AND WHEREAS on April 17, 2014, the Commission ordered that the hearing be adjourned to a confidential pre-hearing conference to be held on September 5, 2014 at 10:00 a.m; AND WHEREAS on August 20, 2014, Nagy’s counsel advised the Commission that Nagy was no longer available to attend the pre-hearing conference scheduled for September 5, 2014 as he would be out of the country until September 19, 2014 because of the ailing health of a family member living abroad and that Nagy’s counsel was not available thereafter until the week of October 13, 2014; AND WHEREAS on August 20, 2014, on the consent of the Respondents and Staff, the Commission ordered that the confidential pre-hearing conference scheduled for September 5, 2014 be adjourned to October 15, 2014 at 9:00 a.m; AND WHEREAS on October 15, 2014, the parties attended a confidential pre-hearing conference in this matter; AND WHEREAS on October 15, 2014, the Commission ordered that the hearing on the merits in this

matter shall commence on April 20, 2015 at 10:00 a.m. and shall continue on April 22, 23, 24, 27, 28, 29, 30 and May 1, 4, 6, 7, 8, 11, 12, 13, 14 and 15, 2015 commencing at 10:00 a.m. on each day; AND WHEREAS on October 15, 2014, the Commission ordered this matter be adjourned to a further confidential pre-hearing conference to be held on February 26, 2015 at 10:00 a.m.; AND WHEREAS on December 16, 2014, the Commission ordered that Sean Zaboroski, counsel for QHCM, QSA and Nagy, be granted leave to withdraw as representative for the respondents, QHCM, QSA and Nagy; AND WHEREAS on February 17, 2015, Nagy requested that the confidential pre-hearing conference scheduled for February 26, 2015 be rescheduled for personal reasons; AND WHEREAS on February 24, 2015, the Commission ordered that the confidential pre-hearing conference scheduled for February 26, 2015 be rescheduled to March 24, 2015 at 4:00 p.m.; AND WHEREAS on March 18, 2015, counsel for Nagy retained through the Litigation Assistance Program advised that he was not able to attend the confidential pre-hearing conference scheduled for March 24, 2015 at 4:00 p.m.; AND WHEREAS on March 24, 2015, the Commission ordered that the confidential pre-hearing conference scheduled for March 24, 2015 be rescheduled to April 2, 2015 at 10:00 a.m.; AND WHEREAS on April 2, 2015, the parties attended a confidential pre-hearing conference in this matter and were advised by the Commission that the hearing on the merits will now commence on April 22, 2015 at 10:00 a.m. rather than on April 20, 2015 at 10:00 a.m.; AND WHEREAS the Commission is of the opinion that it is in the public interest to make this Order; IT IS ORDERED that the April 20, 2015 hearing date is vacated; and IT IS FURTHER ORDERED that the hearing on the merits in this matter shall commence on April 22, 2015 and shall continue on April 23, 24, 27, 28, 29, 30 and May 1, 4, 6, 7, 8, 11, 12, 13, 14 and 15, 2015 commencing at 10:00 a.m. on each day; DATED at Toronto this 2nd day of April, 2015 “Christopher Portner”

April 9, 2015

(2015), 38 OSCB 3373

Chapter 3

Reasons: Decisions, Orders and Rulings 3.1 OSC Decisions, Orders and Rulings 3.1.1 Satish Talawdekar and Anand Hariharan



AND

IN THE MATTER OF SATISH TALAWDEKAR AND ANAND HARIHARAN

SETTLEMENT AGREEMENT BETWEEN

STAFF OF THE ONTARIO SECURITIES COMMISSION AND ANAND HARIHARAN

PART I – INTRODUCTION

1. The Ontario Securities Commission (the “Commission”) will issue a Notice of Hearing to announce that it will hold a

hearing to consider whether, pursuant to sections 127 and 127.1 of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”), it is in the public interest for the Commission to make certain orders in respect of Anand Hariharan (“Hariharan” or the “Respondent”).

PART II – JOINT SETTLEMENT RECOMMENDATION

2. Staff of the Commission (“Staff”) agree to recommend settlement of the proceeding commenced by Notice of Hearing

dated March 11, 2015 (the “Proceeding”) against the Respondent according to the terms and conditions set out in Part V of this Settlement Agreement. The Respondent agrees to the making of an order in the form attached as Schedule “A”, based on the facts set out below.

3. For this proceeding, and any other regulatory proceeding commenced by a securities regulatory authority in Canada,

the Respondent agrees with the facts as set out in Part III and the conclusions in Part IV of this Settlement Agreement (the “Settlement Agreement”).

PART III –AGREED FACTS

A. OVERVIEW 4. The Proceeding relates to Staff’s allegations concerning trading by Hariharan in the call option contracts of an issuer

called Loral Space & Communications Inc. (“Loral”). Hariharan bought the options based on a tip from his close childhood friend Satish Talawdekar (“Talawdekar”) of material, non-public information concerning the purchase of Loral’s major subsidiary by MacDonald, Dettwiler & Associates Inc. (“MDA”).

II. THE RESPONDENT 5. Hariharan is a resident of Mississauga, Ontario and was at the time of the trading described herein employed as an

aircraft maintenance engineer. III. HARIHARAN’S CONDUCT A. The Purchase of Loral Call Options 6. On or about June 25, 2012, Hariharan received a tip from his close childhood friend Talawdekar. Talawdekar was a

resident of Mississauga, Ontario and an employee of MDA.

Reasons: Decisions, Orders and Rulings

April 9, 2015

(2015), 38 OSCB 3374

7. Leading up to its public announcement on June 26, 2012, at 9:25 PM, MDA had successfully negotiated the acquisition of a major subsidiary of Loral in what amounted to a transformative acquisition for MDA (“the Announcement” and “the Acquisition”). Below is a table representing the market impact of the Announcement on the price of Loral and MDA shares:

Security Description

Marketplace Closing Share Price June 26,

2012

Marketplace Closing Share Price June 27,

2012

Dollar Increase in Share Price

Percentage Increase

MDA shares $44.65 $57.13 $12.48 28%

Loral shares US $59.36 US $67.21 $7.85 13.2%

8. MDA issued a material change report concerning the Acquisition on June 29, 2012. 9. The fact of MDA’s bid to acquire the Loral subsidiary was a material fact to both Loral and to MDA. At the relevant time,

MDA was an Ontario reporting issuer but Loral was not a reporting issuer in Ontario. 10. Talawdekar became aware of the Acquisition in the course of his employment in the IT department at MDA’s Brampton

offices, before there was general disclosure by MDA, which only occurred with the Announcement. He conveyed the substance of the material, non-public information respecting the Acquisition to his friend Hariharan.

11. As a result of receiving this tip and with knowledge of the Acquisition, starting on the day before the Announcement and

continuing on the day of the Announcement (but before the Announcement), Hariharan entered orders to purchase 220 short-dated, out-of-the-money call option contracts of Loral. This provided Hariharan with the right to purchase 22,000 Loral shares if the price went up to the strike price set out in the contract.

B. Profit Made by Hariharan 12. The day following the Announcement, Hariharan sold all of the 220 Loral option contracts, realizing a combined profit of

US$68,683.40 in his self-directed and joint account, a 623% return in one day.

PART IV – CONDUCT CONTRARY TO THE PUBLIC INTEREST 13. While Hariharan’s conduct involving the purchase of Loral call option contracts as outlined above did not technically

contravene s. 76(1) of the Act (because Loral was not an Ontario reporting issuer), his conduct impugned the integrity and fairness of the capital markets because of the misuse of material, confidential information obtained from Talawdekar.

14. Consequently Hariharan’s conduct was contrary to the public interest.

PART V – TERMS OF SETTLEMENT 15. Hariharan agrees to the terms of settlement listed below. 16. The Commission will make an order, pursuant to sections 127 and 127.1 of the Act, that:

(a) the settlement agreement is approved; (b) trading in any securities by Hariharan including as the term “security” is defined in subsection 76(6) of the Act,

whether direct or indirect, shall cease for a period of 10 years from the date of the order approving the settlement agreement.

(c) the acquisition of any securities by Hariharan, including as the term “security” is defined in subsection 76(6) of

the Act, whether direct or indirect, is prohibited for a period of 10 years from the date of the order approving the settlement agreement;

(d) As an exception to the provisions of paragraph 16(b), Hariharan is permitted to sell securities in his personal

or joint registered retirement savings plan account for a period of thirty days from the date of the order approving this settlement agreement;


April 9, 2015

(2015), 38 OSCB 3375

(e) After the payments set out in paragraphs 16(i) and 17, below are made by Hariharan in full, as an exception to the provisions of paragraphs 16(b) and (c):

(i) trading shall be permitted only in:

(A) mutual fund, exchange-traded fund or index fund securities, bonds, guaranteed investment

certificates, for the account of any registered retirement savings plans, tax free savings accounts and self-directed retirement savings plans in which Hariharan and/or his spouse have sole legal and beneficial ownership, and such trading is carried out through a registered dealer in Canada to whom he must give a copy of this Order at the time he opens or modifies these accounts; and

(B) shares of Jazz Aviation Hariharan is entitled to purchase or is provided as a result of

Hariharan’s employment with Jazz Aviation, and all such trading is carried out through a registered dealer in Canada to whom he must give a copy of this Order at the time he opens or modifies these accounts;

(ii) the acquisition of any securities shall be permitted only in:

(A) mutual fund, exchange-traded fund or index fund securities, bonds, guaranteed investment

certificates for the account of any registered retirement savings plans, tax free savings accounts and self-directed retirement savings plans in which Hariharan and/or his spouse have sole legal and beneficial ownership, and such trading is carried out through a registered dealer in Canada to whom he must give a copy of this Order at the time he opens or modifies these accounts; and

(B) shares of Jazz Aviation Hariharan is entitled to purchase or is provided as a result of

Hariharan’s employment with Jazz Aviation, and all such trading is carried out through a registered dealer in Canada to whom he must give a copy of this Order at the time he opens or modifies these accounts;

(f) any exemptions contained in Ontario securities law do not apply to Hariharan for a period of 10 years from the

date of the order approving the settlement agreement; (g) Hariharan is reprimanded; (h) Hariharan is prohibited for a period of 10 years from the date of the order approving the settlement agreement

from becoming or acting as a registrant, an investment fund manager, a promoter, or as a director or officer of any of those entities;

(i) Hariharan shall pay investigation costs to the Commission in the amount of $5,000; and

Hariharan’s voluntary payment of $35,000 pursuant to paragraph 17 of the settlement agreement, below, is designated for allocation or for use by the Commission in accordance with subsections 3.4(2)(b)(i) or (ii) of the Act.

17. Hariharan undertakes to make a voluntary payment to the Commission prior to the order approving the settlement

agreement of $35,000, being a significant portion of the profits obtained by him through the Loral call option contracts trading.

18. Hariharan undertakes to fully cooperate with Staff of the OSC in any ensuing investigation and proceeding arising from

this matter. 19. Hariharan undertakes to consent to a regulatory Order made by any provincial or territorial securities regulatory

authority in Canada containing any or all of the prohibitions set out in the Settlement Agreement. These prohibitions may be modified to reflect the provisions of the relevant provincial or territorial securities law.

20. Hariharan agrees to attend in person at the hearing before the Commission to consider the proposed settlement.

PART VI – STAFF COMMITMENT 21. If the Commission approves this Settlement Agreement, Staff will not commence any proceeding under Ontario

securities law in relation to the facts set out in Part III of this Settlement Agreement, subject to the provisions of paragraph 22 below.


April 9, 2015

(2015), 38 OSCB 3376

22. If the Commission approves this Settlement Agreement and the Respondent fails to comply with any of the terms of the Settlement Agreement, Staff may bring proceedings under Ontario securities law against the Respondent. These proceedings may be based on, but are not limited to, the facts set out in Part III of this Settlement Agreement as well as the breach of the Settlement Agreement.

PART VII – PROCEDURE FOR APPROVAL OF SETTLEMENT

23. The parties will seek approval of this Settlement Agreement at a public hearing before the Commission scheduled on a

date to be determined by the Secretary to the Commission, or such other date as may be agreed to by Staff and the Respondent, according to the procedures set out in this Settlement Agreement and the Commission’s Rules of Procedure.

24. Staff and the Respondent agree that this Settlement Agreement will form all of the agreed facts that will be submitted at

the settlement hearing on the Respondent’s conduct, unless the parties agree that additional facts should be submitted at the settlement hearing.

25. If the Commission approves this Settlement Agreement, the Respondent agrees to waive all rights to a full hearing,

judicial review or appeal of this matter under the Act. 26. If the Commission approves this Settlement Agreement, neither party will make any public statement that is

inconsistent with this Settlement Agreement or with any additional agreed facts submitted at the settlement hearing. 27. Whether or not the Commission approves this Settlement Agreement, the Respondent will not use, in any proceeding,

this Settlement Agreement or the negotiation or process of approval of this agreement as the basis for any attack on the Commission’s jurisdiction, alleged bias, alleged unfairness, or any other remedies or challenges that may otherwise be available.

PART VIII – DISCLOSURE OF SETTLEMENT AGREEMENT

28. If the Commission does not approve this Settlement Agreement or does not make the order attached as Schedule “A”

to this Settlement Agreement:

(a) this Settlement Agreement and all discussions and negotiations between Staff and the Respondent before the settlement hearing takes place will be without prejudice to Staff and the Respondent; and

(b) Staff and the Respondent will each be entitled to all available proceedings, remedies and challenges,

including proceeding to a hearing of the allegations contained in the Statement of Allegations. Any proceedings, remedies and challenges will not be affected by this Settlement Agreement, or by any discussions or negotiations relating to this agreement.

29. Both parties will keep the terms of the Settlement Agreement confidential until the Commission approves the

Settlement Agreement. At that time, the parties will no longer have to maintain confidentiality. If the Commission does not approve the Settlement Agreement, both parties must continue to keep the terms of the Settlement Agreement confidential, unless they agree in writing not to do so or if required by law.

PART IX – EXECUTION OF SETTLEMENT AGREEMENT

30. The parties may sign separate copies of this agreement. Together, these signed copies will form a binding agreement. 31. A scanned copy of any signature will be treated as an original signature. DATED AT TORONTO this 31st day of March 2015 “Anand Hariharan” “Sangeeta Hariharan”_______

Witness: Sangeeta Hariharan (signature and printed name)

“Tom Atkinson”__________ Director, Enforcement Branch

April 9, 2015

(2015), 38 OSCB 3377

Chapter 4

Cease Trading Orders

4.1.1 Temporary, Permanent & Rescinding Issuer Cease Trading Orders

Company Name Date of Temporary Order

Date of Hearing Date ofPermanent Order

Date ofLapse/Revoke

Cline Mining Corporation 02-Apr-15 13-Apr-15

SunOil Ltd. 23-Mar-15 02-Apr-15 02-Apr-15

4.2.1 Temporary, Permanent & Rescinding Management Cease Trading Orders

Company Name Date of Order or Temporary

Order

Date of Hearing Date ofPermanent Order

Date of Lapse/ Expire

Date of Issuer

Temporary Order

Alturas Minerals Corp. 02-Apr-15 13-Apr-15

Carpathian Gold Inc. 06-Apr-15 17-Apr-15

4.2.2 Outstanding Management & Insider Cease Trading Orders

Company Name Date of Order or Temporary Order

Date of Hearing Date ofPermanent

Order

Date of Lapse/ Expire

Date of Issuer Temporary

Order

Alturas Minerals Corp 02-Apr-15 13-Apr-15

Carpathian Gold Inc. 06-Apr-15 17-Apr-15

Northcore Resources Inc.

09-Mar-15 20-Mar-2015 20-Mar-15

Cease Trading Orders

April 9, 2015

(2015), 38 OSCB 3378


April 9, 2015

(2015), 38 OSCB 3379

Chapter 5

Rules and Policies 5.1.1 CSA Notice of Amendments to NI 51-102 Continuous Disclosure Obligations, NI 41-101 General Prospectus

Requirements and NI 52-110 Audit Committees

CSA Notice of Amendments to National Instrument 51-102 Continuous Disclosure Obligations,

National Instrument 41-101 General Prospectus Requirements and National Instrument 52-110 Audit Committees

April 9, 2015 Introduction We, the Canadian Securities Administrators (the CSA or we), are implementing amendments to:

• National Instrument 51-102 Continuous Disclosure Obligations (NI 51-102), • National Instrument 41-101 General Prospectus Requirements (NI 41-101), and • National Instrument 52-110 Audit Committees (NI 52-110) (the Amendments).

We are also implementing changes to:

• Companion Policy 51-102CP to NI 51-102 (51-102CP), and • Companion Policy 41-101CP to NI 41-101 (41-101CP).

The Amendments and policy changes have been made by each member of the CSA. Provided all necessary ministerial approvals are obtained, the Amendments and policy changes will come into force on June 30, 2015. Substance and Purpose The Amendments streamline and tailor disclosure by venture issuers. They are intended to make the disclosure requirements for venture issuers more suitable and manageable for issuers at their stage of development. The Amendments address continuous disclosure and governance obligations as well as disclosure for prospectus offerings. The Amendments are designed to focus disclosure of venture issuers on information that reflects the needs and expectations of venture issuer investors and eliminate disclosure obligations that may be less valuable to those investors. The Amendments are also intended to streamline the disclosure requirements for venture issuers to allow management of those issuers to focus on the growth of their business. In addition, the Amendments include enhancements to the governance requirements for venture issuers. The Amendments also, for all issuers:

• revise the annual information form disclosure for mining issuers to conform that disclosure to the amendments made to National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) in 2011

• clarify the executive compensation disclosure filing deadlines.

Rules and Policies

April 9, 2015

(2015), 38 OSCB 3380

Background The CSA previously requested comment on proposals reflected in the Amendments and policy changes. On May 22, 2014, we published a Notice and Request for Comment relating to the Amendments and policy changes (the May 2014 Publication). Prior to the May 2014 Publication, we had proposed a separate continuous disclosure and corporate governance regime for venture issuers. In July 2011 and September 2012, we published for comment proposed National Instrument 51-103 Ongoing Governance and Disclosure Requirements for Venture Issuers and related rule amendments (the Previous Proposals). While more comprehensive than the Amendments, the Previous Proposals contained many of the same key elements, including streamlined quarterly financial reporting, executive compensation disclosure and business acquisition reporting. Support for the Previous Proposals was initially strong; however, support for the September 2012 publication fell significantly and the CSA withdrew its proposal in July 2013. Feedback from the venture issuer community indicated that the benefits from streamlining and tailoring were outweighed by the burden of transition to a new regime, particularly at a time when many venture issuers were facing significant challenges. The Amendments retain important elements from the Previous Proposals. Rather than implementing them as part of a stand-alone, tailored regime for venture issuers, we are implementing them on a targeted basis by amending existing rules. Summary of Written Comments Received by the CSA The comment period for the May 2014 Publication ended on August 20, 2014. We received submissions from 13 commenters. We considered the comments received and thank all of the commenters for their input. The names of commenters are contained in Annex B of this notice and a summary of their comments, together with our responses, is contained in Annex C of this notice. Summary of Changes to the May 2014 Publication After considering the comments received on the May 2014 Publication, we have made some revisions to the May 2014 Publication. Those revisions are reflected in the Amendments and policy changes we are publishing concurrently with this notice. As these changes are not material, we are not republishing the Amendments and policy changes for a further comment period. Annex A contains a summary of notable changes between the Amendments and policy changes and the May 2014 Publication. Local Matters Annex F includes any additional information that is relevant in the local jurisdiction only. Contents of Annexes The following annexes form part of this CSA Notice:

Annex A Summary of Changes

Annex B List of Commenters

Annex C Summary of Comments and Responses

Annex D1 Amendments to NI 51-102



Annex E1 Changes to 51-102CP

Annex E2 Changes to 41-101CP

Annex F Local Matters

Rules and Policies

April 9, 2015

(2015), 38 OSCB 3381

Questions Please refer your questions to any of the following:

British Columbia Securities Commission Michael L. Moretto Manager, Corporate Finance 604-899-6767 1-800-373-6393 [email protected] Jody-Ann Edman Senior Securities Analyst, Corporate Finance 604-899-6698 1-800-373-6393 [email protected]

Larissa M. Streu Senior Legal Counsel, Corporate Finance 604-899-6888 1-800-373-6393 [email protected]

Alberta Securities Commission Lanion Beck Legal Counsel, Corporate Finance 403-355-3884 1-877-355-0585 [email protected]

Financial and Consumer Affairs Authority of Saskatchewan Tony Herdzik Deputy Director, Corporate Finance 306-787-5849 [email protected]

Manitoba Securities Commission Patrick Weeks Corporate Finance Analyst 204-945-3326 [email protected]

Ontario Securities Commission Michael Tang Senior Legal Counsel, Corporate Finance 416-593-2330 1-877-785-1555 [email protected]

Marie-France Bourret Senior Accountant, Corporate Finance 416-593-8083 1-877-785-1555 [email protected]

Autorité des marchés financiers Martin Latulippe Director, Continuous Disclosure 514-395-0337 ext.4331 1-877-525-0337 [email protected]

Diana D’Amata Senior Policy Advisor 514-395-0337 ext.4386 1-877-525-0337 [email protected]

Financial and Consumer Services Commission (New Brunswick) Deborah Gillis Legal Counsel, Securities 506-643-7112 1-866-933-2222 [email protected]

Nova Scotia Securities Commission Jack Jiang Securities Analyst 902-424-7059 [email protected]

Rules and Policies

April 9, 2015

(2015), 38 OSCB 3382

ANNEX A

SUMMARY OF CHANGES

Option to use Quarterly Highlights In the May 2014 Publication, we proposed to permit venture issuers without significant revenue in the most recently completed financial year to provide the more tailored and focused “quarterly highlights” form of MD&A in interim periods. We requested comment on whether all venture issuers should be permitted to provide quarterly highlights disclosure. We have decided that all venture issuers should have the option of providing quarterly highlights disclosure. The main purpose of the Amendments is to tailor and streamline venture issuer regulation. After considering the comments received, we found that drawing a line to separate venture issuers for the purpose of quarterly highlights would not serve the purpose of streamlining venture issuer regulation. We think a simpler regime in which venture issuers are not sub-divided is preferable. In this regard, venture issuers may be in a better position to understand the needs of their investors. We believe the option to use quarterly highlights will likely satisfy the needs of investors in smaller venture issuers. However, investors in larger venture issuers, including those with significant revenue, may want full interim MD&A to assist them in making informed investment decisions. Issuers will likely take the needs of their investors into consideration when determining whether to provide quarterly highlights or full interim MD&A. Deadline for filing executive compensation disclosure In the May 2014 Publication, we proposed to clarify the filing deadlines for executive compensation disclosure by both venture and non-venture issuers. As we noted in the May 2014 Publication, executive compensation disclosure is usually contained in an issuer’s information circular and the filing deadline is driven by the issuer’s corporate law or organizing documents, and the timing of its annual general meeting. Issuers may also include the disclosure in their Annual Information Form. In the May 2014 Publication, we proposed to revise Section 9.3.1 of NI 51-102 to set the deadline for filing executive compensation disclosure by non-venture issuers at 140 days after the issuer’s financial year-end. For venture issuers, we proposed a corresponding deadline of either 140 days or 180 days after the issuer’s financial year-end. After considering comments received, we have decided to proceed with a filing deadline of 180 days after the financial year-end for venture issuers. We think this is a reasonable deadline considering the information needed to put together the executive compensation disclosure will be available to venture issuers at the time of filing their annual financial statements. Significance level for BAR disclosure in prospectus or information circular In the May 2014 Publication, we proposed to increase the threshold at which a BAR is required for venture issuers from 40% to 100% (therefore reducing the instances where BARs are required). We also proposed to eliminate the requirement that BARs filed by venture issuers contain pro forma financial statements. At that time, we identified a potential policy concern that might have justified a difference between the BAR requirements and the prospectus and information circular requirements in respect of certain proposed acquisitions. We requested comment on whether the threshold for significance should be 40% where proceeds of a prospectus offering would be used to finance a proposed acquisition. We also requested comment on whether the threshold for significance in an information circular should be 40% in situations where the matter being submitted to a vote of security holders relates to a proposed acquisition. Ultimately, we decided that the significance thresholds should be harmonized. In the Amendments, the significance threshold is 100% for both prospectuses used to finance proposed acquisitions and information circulars related to proposed acquisitions (that is, it is 100% in all cases). While we acknowledge the benefits of including BAR-level disclosure in a prospectus or information circular in certain circumstances, we think that harmonization with continuous disclosure requirements is also important. Given the limited number of historical instances where BAR-level disclosure in a prospectus or information circular was required for a venture issuer making an acquisition at 40% to 100% significance, we think that the benefits of harmonization with continuous disclosure requirements outweigh the benefits of a requirement to include BAR-level disclosure about a proposed acquisition in these situations. Exceptions from audit committee composition requirements In the May 2014 Publication, we proposed to require venture issuers to have an audit committee consisting of at least three members, the majority of whom could not be executive officers, employees or control persons of the issuer. We did not provide

Rules and Policies

April 9, 2015

(2015), 38 OSCB 3383

for exceptions from these requirements. We requested comment on whether we should provide exceptions from the proposed audit committee composition requirements similar to those in sections 3.2 to 3.9 of NI 52-110. After considering comments received, we have now included exceptions for events outside the control of the member (subsection 6.1.1(4) of NI 52-110) and for death, disability or resignation of a member (subsection 6.1.1(5) of NI 52-110). Threshold for perquisite disclosure Form 51-102F6V requires disclosure of the value of perquisites provided to an NEO or director. In the May 2014 Publication, we proposed that an issuer would have to disclose the total value of perquisites even if that was only a small amount. Upon consideration of comments received, we have now included a staggered threshold for perquisite disclosure: $15,000 if the NEO or director’s salary is $150,000 or less, 10% of salary if the NEO or director’s salary is greater than $150,000 but less than $500,000 or $50,000 if the NEO or director’s salary is $500,000 or greater. See subsection 2.1(4) of Form 51-102F6V. Transition dates Other than those Amendments set out below, the Amendments are in effect as of June 30, 2015. The option to provide quarterly highlights disclosure will apply in respect of financial years beginning on or after July 1, 2015. The executive compensation filing deadlines for venture and non-venture issuers will apply in respect of financial years beginning on or after July 1, 2015. The audit composition requirements will apply in respect of financial years beginning on or after January 1, 2016.

Rules and Policies

April 9, 2015

(2015), 38 OSCB 3384

ANNEX B

LIST OF COMMENTERS

Tab Commenter Date

1. Stephen P. Quin (Midas Gold Corporation) May 28, 2014

2. David Taylor (Arian Silver Corporation) June 27, 2014

3. The Canadian Advocacy Council for Canadian CFA Institute Societies (Cecilia Wong) August 7, 2014

4. Gordon Keep (Fiore Management & Advisory Corp.) August 5, 2014

5. Gowling Lafleur Henderson LLP (David Taniguchi) (submitted on behalf of a client) August 8, 2014

6. TSX Venture Exchange Inc. (Zafar Khan) August 11, 2014

7. Pension Investment Association of Canada (Michael Keenan) August 18, 2014

8. Canadian Coalition for Good Governance (Daniel E. Chornous) August 19, 2014

9. Siskinds LLP (A. Dimitri Lascaris, Anthony O’Brien and James Yap) August 19, 2014

10. Chartered Professional Accountant of Canada (Joan E. Dunne and Gordon Beal) August 15, 2014

11. Tamarack Valley (Ron Hozjan) August 20, 2014

12. Canadian Foundation for Advancement of Investor Rights August 20, 2104

13. MNP LLP (Jody MacKenzie) August 20, 2014

Rules and Policies

April 9, 2015

(2015), 38 OSCB 3385

ANNEX C

SUMMARY OF COMMENTS AND RESPONSES

CSA Notice and Request for Comment Proposed Amendments to

National Instrument 51-102 Continuous Disclosure Obligations, National Instrument 41-101 General Prospectus Requirements and

National Instrument 52-110 Audit Committees

No. Subject Summarized Comment Response

General Comments

1 General agreement with the proposals

Four commenters are generally supportive of the proposals. One commenter wanted to thank the CSA for its efforts to help junior companies provide more relevant and simplified disclosure. One commenter indicated that they are supportive of the CSA’s efforts to tailor and, as applicable, streamline requirements for venture issuers in the areas of continuous disclosure, corporate governance and prospectus offerings. The CSA’s historic and continuing distinction of venture issuers from non-venture issuers is an important factor in supporting Canada’s public venture capital market and facilitating the ability of early stage enterprises to access the Canadian public markets in a cost effective manner while also ensuring that such issuers provide adequate disclosure to the public and comply with specified corporate governance practices. These proposals appear to be a positive step in terms of further recognizing and distinguishing the disclosure and corporate governance considerations applicable to venture issuers as compared to non-venture issuers. One commenter is supportive of the proposed amendments as they are meant to help venture issuers focus on the disclosures that reflect investor needs and eliminate disclosures that may be less valuable to investors while also streamlining the disclosure requirements and enhancing governance requirements in a cost efficient manner. Venture issuers are significant value and job creators in the Canadian economy. It is important that these organizations operate in a reporting and regulatory environment that is both attractive and protective of investors’ interests. Accordingly, the commenter welcomes the proposed amendments. One commenter supports these steps being taken by the CSA that help venture issuers manage their reporting requirements on a cost effective basis while maintaining appropriate disclosure. One commenter is very pleased that the Commissions are collectively looking at ways of reducing the high fixed costs issuers are faced with every time they attempt to reduce their cost of capital by going public or by attempting to raise equity through the public

We acknowledge the comments.

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markets. The commenter is supportive of the Commissions’ efforts of balancing appropriate disclosure to incoming shareholders with the cost reduction of preparing such disclosure and would be supportive of such cost reduction measures going forward. They believe the success of the public markets in Canada will be dependent on controlling costs of being public as there seems to be an endless supply of private equity capital and foreign capital available to Canadian based resource companies.

2 General disagreement with the proposals

Five commenters generally disagree with the proposals. One commenter indicated that while they support the change from the original proposal, which would have placed all the venture issuer continuous disclosure obligations in an entirely separate regulatory instrument, the commenter remains concerned about placing too high a distinction on the nature of the issuer with respect to continuous disclosure requirements. While the commenter appreciates the time and costs involved in maintaining robust disclosure and the resulting impact on the ability of small issuers to access the public markets, the commenter does not believe that those considerations should outweigh the benefits to investor protection that arise through fulsome disclosure. As a result, the commenter believes that venture issuers should be required to provide the same level of disclosure as other issuers. One of the standards contained in the CFA Institute’s Code of Ethics and Standards of Professional Conduct requires members to exercise diligence in analyzing investments, and to have a reasonable and adequate basis, supported by appropriate research, for any investment recommendation. A disclosure regime for venture issuers which results in less public information being available than what is available for more senior public issuers could, in some cases, result in insufficient information for the necessary due diligence analysis. One commenter stated that in order for investors to make fully informed investment decisions, issuers must disclose information in a consistent fashion. If, after a market review and consultation, it is determined that certain information is not useful to investors, it may be preferable to change the disclosure requirements for all issuers such that the disclosure is more meaningful for all parties. Investors may not appreciate the subtleties in financial performance or condition of different companies whether or not in the same industry and assess results and risks properly if the same level of detail is not required to be provided by all issuers. Although one commenter was generally supportive of regulatory changes that streamline disclosure requirements and reduce expenses for venture

We thank the commenters for their input. In our view, the amendments are appropriately tailored to venture issuers and the venture issuer context within the Canadian marketplace. We think the amendments strike an appropriate balance between an investor’s need for disclosure and the venture issuer’s need for a streamlined and efficient disclosure system. We do not believe we are eliminating information that is valuable to investors. We are tailoring the disclosure so that it is more appropriate for venture issuers and their investors. With respect to the comment that it is preferable to change the disclosure requirements for all issuers, we note that the current regime already differentiates between venture issuers and non-venture issuers. One of the reasons we began this project is because we heard from market participants about the need for a streamlined and tailored disclosure regime for venture issuer disclosure. We also note that making changes to the disclosure requirements for non-venture issuers is outside the scope of this project.

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issuers, provided that investors remain adequately protected, the commenter remains concerned that some of the provisions outlined in the proposed amendments will unduly compromise disclosure and governance standards. It is unclear that the regime proposed will result in a less complex, streamlined system that is more manageable for venture issuers.

One commenter noted that listing on an exchange in Canada is a privilege and not a right: there must be appropriate protections for investors in those companies that have the imprimatur bestowed by a listing. The commenter believes that the proposed amendments overall will result in less protection for investors and have the potential to adversely affect the reputation of the Canadian capital markets among international investors. In the commenter’s view, smaller companies are not in less need of robust governance practices and the risk to investors of the lack thereof does not diminish with the smaller size of the company. The existing regime already recognizes some of the unique aspects of venture issuers through less stringent governance disclosure requirements for them. The proposed amendments also eliminate information that is valuable to investors. The adoption of the proposed amendments also may have the unintended consequence of incentivizing issuers to list on the TSX-V rather than the TSX solely for the purpose of limiting their disclosure and governance obligations.

One commenter believes that the potential negative consequences of reducing the governance and executive compensation disclosure requirements outweigh the possible benefits to venture issuers of further streamlining and simplifying their compliance. Given that the majority of the publicly listed companies in Canada are TSX V-issuers, with these proposals the CSA risks creating the perception among international investors that Canada's governance standards as a whole are lax. It also may create an incentive for issuers to list (or continue to be listed) on the TSX-V even if they are eligible to be listed on the TSX, simply to avoid the TSX's more stringent governance and disclosure regime.

One commenter believes it is important that there be a robust disclosure and governance regime for venture issuers because:

• there is a heightened risk of fraud among venture issuers;

• there are economic limitations on the ability of investors to obtain a remedy against venture issuers, which means that there is a need for more robust public regulation; and

• fraud among venture issuers is likely to have a greater impact on retail investors, who are proportionately more likely to invest in venture issuers.

With respect to the comment that these amendments may incentivize an issuer to list on the TSX-V, we believe issuers make a business decision to list on the exchange that is best suited to their business and their level of development rather than the applicable disclosure regime. We do not believe these changes will adversely affect the reputation of the markets in Canada. Although these amendments may result in less disclosure in certain circumstances, we believe the disclosure will be better for investors because it will be more focused and tailored to the venture issuer context. We do not agree that the amendments are diminishing the governance regime. In fact, we are increasing the governance standards for venture issuers by adding an audit committee independence requirement. In our view, there is no basis to suggest a correlation between streamlined and tailored disclosure and fraud.

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Other than the proposed requirement for venture issuer’s audit committees to have a majority of independent members (which the commenter supports), the commenter does not support the proposed amendments and urges the CSA to abandon them. Venture issuers already have the benefit of significant exemptions from disclosure and governance obligations under Canadian securities rules, and any further relaxation of the rules for venture issuers would need to be based on a compelling justification. While the current proposed amendments are not as extensive as the amendments proposed in National Instrument 51-103, the commenter sees no compelling justification for the current proposed amendments. One commenter is supportive of the objective of tailoring and streamlining disclosure and governance requirements for venture issuers and increasing guidance to simplify compliance and reduce costs to venture issuers. They also support efforts to improve disclosure to reflect the needs and expectations of venture issuer investors. However, the commenter is of the view reducing the disclosure and governance standards applicable to venture issuers is not an appropriate method to achieve the stated goals. One commenter suggested that a reduction of the existing level of disclosure would result in informational gaps for investors and would increase the risks of investing in an already risky venture market. This is not a responsible course of action for regulators who have a mandate to protect investors nor would it improve confidence in the venture capital market. Regulators and the exchange have worked hard to improve the reputation of the venture exchange since the days of the Vancouver stock exchange. The commenter suggests that there are other alternatives available which would reduce compliance costs while at the same time clarifying obligations and thereby increase compliance with the existing rules. These alternatives should be explored in lieu of the Proposed Amendments.

3 Lack of retail investor consultation

One commenter does not understand how the Proposed Amendments, which are purportedly aimed at improving investor usefulness and reflective of the needs of venture issuer investors, can be introduced in the absence of retail investor consultation. The Proposed Amendments refer to a venture issuer investor survey conducted in 2011. However, that survey was limited to consultation with nine investors consisting of three portfolio managers, two investment advisors, and one each of an institutional advisor, underwriter/dealer, research analyst and investment banker. Whilst these individuals can be considered investors, the commenter believes that a survey conducted with a representative sample of investors is necessary in order to obtain information about their

We thank the commenter for their input. During the course of this project, CSA members conducted consultations in numerous jurisdictions and conducted a cost-benefit analysis. We have also published for public comment on four occasions. We therefore believe that there has been an opportunity for retail investors to comment on

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needs and expectations. Significant changes to disclosure requirements should not be introduced prior to such retail investor consultation.

these proposals.

4 Venture issuer manual One commenter stated that, if a principal goal of the initiative is to clarify current obligations for venture issuers, it would arguably be more efficient and less resource-intensive to assemble a manual covering all venture issuer regulatory requirements rather than incur the cost (both in terms of time and resources on the part of both regulators and stakeholders) of the rule-making process. The Proposed Amendments do not create a single instrument where all of the rules applicable to venture issuers can be found. Given that venture issuers will still have to comply with other national instruments and securities laws in the applicable provincial acts, the commenter does not believe that the goal of clarifying obligations and thereby reducing compliance costs will be achieved through the CSA’s current proposals. Providing a comprehensive manual which would explain all current requirements would be preferable.

We thank the commenter for their input. However, the key goal of the amendments is to tailor continuous disclosure and prospectus requirements in the venture issuer context. A venture issuer manual alone would not meet this goal.

5 Improve compliance One commenter believes resources should be focused on measures to improve compliance with existing continuous disclosure requirements of reporting issuers. CSA Staff Notice 51-341 Continuous Disclosure Review Program Activities for the fiscal year ended March 31, 2014 found that 76% of those subject to a full review or an issue-oriented review were deficient and required improvements to their disclosure (or resulted in the issuer being referred to enforcement, ceased traded or placed on the default list). Education and guidance (among other measures) to improve required disclosure would clearly be of benefit to investors and issuers. This should be the immediate priority.

We thank the commenter for their input. Since the introduction of NI 51-102, the CSA has had a continuous disclosure review program in place. CSA jurisdictions use various tools to select reporting issuers who are most likely to have deficiencies in their disclosure record. As a result, the 76% of companies reviewed who required improvements in their disclosure is unlikely to be representative of the entire population. We also note that, in general, the resources allocated to policy projects have no impact on the resources allocated to our continuous disclosure review programs. Education and guidance are also conducted by CSA staff under the continuous disclosure (CD) review program discussed in CSA Staff Notice 51-312.

6 Benchmarking to other jurisdictions

One commenter is of the view that benchmarking the type and level of disclosure provided in other jurisdictions would be worthwhile. They disagree with the position taken by the CSA that benchmarking to other jurisdictions such as Australia, the United Kingdom, Hong Kong or the United States is not

We thank the commenter for their input. We did not think a full benchmarking exercise was appropriate because of the unique nature of the Canadian

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appropriate. The commenter urges the CSA to explain its statement that “The venture market in Canada is unique and is not directly comparable to most other markets.” They believe that benchmarking to other jurisdictions is an appropriate part of the policy-making process and should be undertaken for this initiative. Any significant differences warranting a different approach can be noted in the exercise.

venture market. We think the Canadian venture market is unique because there are a large number of issuers who, as compared to issuers in other jurisdictions, are more likely to: • have retail investors

with small positions

• be controlled by founders and management

• have limited analyst coverage

• have limited financial resources

• have no immediate prospects of generating significant revenue

In general, our policy making is informed by looking at the requirements in other jurisdictions to the extent appropriate having regard to the uniqueness of the Canadian market.

Question 1a: Quarterly highlights – Do you agree that we have chosen the correct way to differentiate between venture issuers?

7 Yes Two commenters agree that we have chosen the correct way to differentiate between venture issuers. One commenter suggested that the significant revenue test is a reasonable one. One commenter was pleased that the proposed amendments continue to have quarterly reporting obligations for venture issuers and does not disagree with the proposal that venture issuers without significant revenue be able to file streamlined “quarterly highlights” in each of the first three quarters. The commenter believes that the quarterly highlights should be certified by management.

We thank the commenters for their input. However, we have decided that all venture issuers should have the option of providing quarterly highlights disclosure. The main purpose of these amendments is to tailor and streamline venture issuer regulation. After considering the comments received, we found that drawing a line to separate venture issuers for the purpose of quarterly highlights would not serve the purpose of streamlining venture issuer regulation. We think a simpler regime in which venture issuers are not sub-divided is

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preferable. In this regard, venture issuers may be in a better position to understand the needs of their investors. We believe that the option to use quarterly highlights will likely satisfy the needs of investors in smaller venture issuers. However, investors in larger venture issuers, including those with significant revenue, may want need full interim MD&A to make informed investment decisions. Issuers will likely take the needs of their investors into consideration when determining whether to provide quarterly highlights or full interim MD&A. For venture issuers that choose the option to provide quarterly highlights, the quarterly highlights disclosure is their interim MD&A. This means, for instance, that the certification requirements in National Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings that apply to interim MD&A will apply to the quarterly highlights disclosure.

8 No Two commenters did not agree that we have chosen the correct way to differentiate between venture issuers. One commenter noted that the distinction as to who has access to the exemption should be made on the basis of significant revenue from ongoing operations; occasional or one off revenue should be excluded from consideration. Those with significant ongoing revenue should be required to provide more fulsome disclosure as per the current requirements. A clear definition of which constitutes “significant revenue” needs to be provided – is it relative to market capitalization, is it an absolute dollar amount? One commenter does not agree with the use of significant revenue as the only metric to differentiate between venture issuers. A venture issuer could have significant capital expenditures or research and development costs but have no revenue – each of these venture issuers should be complying with the

We thank the commenters for their input. However, we have decided that all venture issuers should have the option to provide quarterly highlights disclosure.

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existing interim MD&A disclosure requirements.

9 Need for guidance/definition for significant revenue test

Five commenters believe that there needs to be additional guidance or a definition for the significant revenue test. Although one commenter wanted all venture issuers to be able to use quarterly highlights, it recommends that if the CSA determines that it is necessary to differentiate between venture issuers for MD&A purposes based on a significant revenue threshold, NI 51-102 (or its Companion Policy) should include specific guidance as to what should be considered “significant revenue” for these purposes. One commenter thought that guidance should be provided with respect to the term “significant revenue” such that only the smallest issuers would be exempt from full MD&A requirements (and the determination of significant revenue would be less subjective). One commenter noted that there is no definition or guidance in the rules with respect to the meaning of “significant revenue”. The commenter notes that the term already appears in National Instrument 51-102, but it currently serves to expand the disclosure obligations of venture issuers, not to limit those obligations as under the current proposals. It is not appropriate to leave this entirely to the discretion of issuers. One commenter believes that more guidance should be provided on what constitutes significant revenue. Metrics used to differentiate venture issuers should include significant capital expenditures and research & development costs to determine which issuers would be permitted to do the quarterly highlights instead of the MD&A. One commenter indicated that, in theory, they agree with differentiating between venture issuers; however, while revenues may be a key differentiator, they believe that other key measures should also be considered, such as market capitalization, total assets, or total expenditures. For example, for resource issuers, a more appropriate measure might be exploration expenditures or capitalized expenditures. Also, the commenter believes that the key measure or measures selected should be clearly defined – for example, what constitutes “significant revenue”. The commenter further believes that the test should not be performed only once per year, as events such as commencement of revenue generation activities, a significant acquisition, or cessation of revenue generating activities should be taken into account to ensure that investors are being provided with relevant and useful information during the year. Accordingly, the test should be performed on a quarterly basis.

We thank the commenters for their input. However, we have decided that all venture issuers should have the option to provide quarterly highlights disclosure.

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Question 1b: Quarterly highlights – Should all venture issuers be permitted to provide quarterly highlights disclosure?

10 Yes One commenter thinks all venture issuers should be permitted to provide quarterly highlights disclosure. The commenter was supportive of the quarterly highlights proposal but thought that the use of quarterly highlights should not be limited to only those venture issuers without significant revenue. All venture issuers (with or without significant revenues) should be permitted to provide quarterly highlights disclosure in lieu of the full MD&A disclosure currently required by Form 51-102F1. Allowing venture issuers with significant revenues to provide quarterly highlights disclosure in lieu of the full MD&A disclosure should not present any material disclosure concerns for the market given that the quarterly highlights are required to discuss all matters that have materially affected a company’s operations and liquidity in the quarter (or are reasonably likely to have a material effect going forward). Correspond- ingly, irrespective of whether or not the venture issuer is revenue generating, the quarterly highlights would require a summary discussion of the information pertinent to the issuer’s operations and liquidity.


11 No Four commenters do not think that all venture issuers should be permitted to provide quarterly highlights disclosure. One commenter noted that in the very early stages of a venture issuer’s existence post-IPO, it is particularly important for investors to become comfortable with the issuer’s continuous disclosure record. Investors should be given an opportunity to determine whether or not the issuer is expending cash in the manner it disclosed in its IPO prospectus, and thus in the streamlined document the CSA should require robust disclosure with respect to capital expenditures in each quarter. While arguably issuers would have to discuss material changes in expenditures, the Companion Policy should clarify this expectation. One commenter does not think that venture issuers with significant revenue should be permitted to provide quarterly highlights disclosure. Given there are some larger public companies on the venture exchange, one commenter does not think that all venture issuers should be permitted to provide the quarterly highlights disclosure. The commenter believes that only the venture issuers that meet the criteria outlined should be allowed to do the interim highlights disclosure. One commenter indicated that the information requirements of MD&A provide a useful format for presenting information to investors and shareholders, disclosures that are familiar to these parties. While

We thank the commenters for their input. However, we have decided that all venture issuers should have the option of providing quarterly highlights disclosure.

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quarterly highlights may be useful for smaller pre-revenue venture companies, many venture issuers have revenues and the current MD&A disclosures provide useful information for shareholders and investors.

Question 2: Executive compensation – What is the most appropriate deadline applicable to venture issuers for filing executive compensation disclosure: 140 days, 180 days or some later date? Please explain.

12 140 days One commenter thinks that 140 days is an adequate deadline for filing and since the audited financial statements are due within 120 days of year end, venture issuers should have all the information necessary in order to file within 140 days. This also provides timely information to shareholders and potential investors.

We thank the commenter for their input. However, we have decided to proceed with a filing deadline of 180 days. We think this is a reasonable deadline considering venture issuers will know this information at the time of filing their annual financial statements.

13 180 days Two commenters think that 180 days is the most appropriate deadline for venture issuers to file executive compensation disclosure. One commenter considered a deadline to file annual executive compensation disclosure of 180 days from the financial year end to be reasonable. This should provide issuers with sufficient time to complete the required disclosure while also ensuring that the disclosure is provided to the public within a reasonable period of time following the issuer’s financial year end. The commenter noted that it is not uncommon for venture issuers to hold their annual general meetings later in their financial year and, as such, it is routine for such issuers to complete their required executive compensation disclosure subsequent to 180 days from their financial year end. Correspondingly, the imposition of a specified deadline for filing executive compensation disclosure would necessitate a change to the disclosure practices of such issuer. The CSA should take this into consideration when assessing the impact and appropriateness of a specified deadline for filing executive compensation disclosure. One commenter recommends 180 days as the most appropriate deadline to align the financial reporting deadlines with the executive compensation disclosures. If an earlier deadline of 140 days was used, venture issuers may have to file the same information twice, which is not a value-added activity and increases the chances of error.


14 No deadline Four commenters do not agree that there should be a deadline for filing executive compensation disclosure – it should only be required in the information circular. One commenter noted that the introduction of a timing requirement on the management information circular would put an implicit control over the timing of the commenter’s annual general meeting as the

We thank the commenters for their input. However, we have decided to proceed with a filing deadline of 180 days. We think this is a reasonable deadline considering venture issuers will know this information at

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information circular and notice of meeting are distributed together. This would introduce inconsistency with the BVI Business Companies Act the commenter’s company is incorporated under (and, incidentally, the UK Companies Act), and also the company’s articles of association. The commenter notes that the timings typically put them within the proposed 140 day limit in any case but that this additional timing requirement is unnecessarily burdensome. It would be normal amongst FTSE and AIM companies in the UK to incorporate the majority of the relevant disclosures within their annual report, which is an approach the commenter is keen to see adopted provided repetition is not required when publishing the notice of general meeting. One commenter noted that all issuers should only be required to make one filing per year and it should relate to the requirements for an information circular. Having potentially two reporting events is unnecessary and onerous. No matter what, shareholders would be provided the requisite information annually anyway. The commenter sees no benefit in adding a second reporting trigger and it would just add confusion. One commenter thought that the executive compensation disclosure for ventures issuers should only be required to be included in the information circular for the company’s AGM, and there is no need to be within 180 days of year end. As related party disclosure is included in quarterly reports and predominantly consists of stock option grants, once a year disclosure is sufficient. To avoid duplication of disclosure obligations, one commenter would support a proposal to only require executive compensation disclosure in the information circular notwithstanding when an annual general meeting needs to be held.

the time of filing their annual financial statements.

Question 3: BARs – Do you think a prospectus should always include BAR-level disclosure about a proposed acquisition if it is significant in the 40% to 100% range, and any proceeds of the prospectus offering will be used to finance the proposed acquisition?

15 Yes Six commenters think a prospectus should always include BAR-level disclosure about a propose acquisition in this situation. One commenter supports inclusion of a business acquisition report if the transaction is material and prospectus funds are being utilized to complete the transaction – new investors should have access to prospectus-level information on the business being acquired in order to make an informed investment decision. One commenter is of the view that inexperienced investors may purchase venture issuer securities to speculate in larger investment returns, and such

We thank the commenters for their input. While we acknowledge the benefits of including BAR-level disclosure in a prospectus in certain circumstances, we think that harmonization between the prospectus and continuous disclosure requirements is also important. Given the limited number of historical instances where BAR-level disclosure in a prospectus was required for a venture

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investors are vulnerable to losses as a result of reduced disclosure requirements. For example, the commenter believes that the business acquisition report requirements should not be amended in the manner proposed. Investors should receive financial statements with respect to a proposed acquisition, both in a prospectus and in continuous disclosure materials where proceeds are being used to finance a proposed acquisition that is significant in the 40% to 100% range in order to make a knowledgeable investment decision. One commenter believes that in the event of a significant business acquisition in the 40% to 100% range financial statements are always useful because they provide certain asset specific information within the notes sections that would otherwise be unavailable post-merger/amalgamation. Given the value of the financial statements, the commenter considers the proposed increase of the threshold from 40% to 100% of market capitalization of the issuer too high, as it would result in disclosure only within a limited set of circumstances. The commenter believes that a prospectus should always include business acquisition reporting - level disclosure requirements about significant business acquisition in the 40% to 100% range. One commenter is of the view that BAR-level disclosure should always be included. Because the commenter does not believe that the BAR threshold should be raised from 40% to 100%, however, the commenter believes the problem is better avoided by retaining the current 40% threshold. One commenter felt that BAR level disclosure should always be provided in the 40% to 100% level, as this provides shareholders and potential investors with a means to assess the financial impact of a proposed or completed acquisition. Increasing the threshold from 40% to 100% is too large an increment as many venture issuers could double in size, while providing shareholders and investors with no information to assess the impact of the acquisition. While the commenter agrees that the proposed changes would streamline and reduce costs and time for venture issuers, they feel that investors would be at a disadvantage absent this financial information, while insiders would have a clearer picture of the potential impact of acquisitions, which would not provide a level playing field. This is particularly important to new investors if the proceeds are to be used to finance an acquisition (i.e. using the new investor’s funds). BAR level disclosure provides an easy-to-interpret numerical snap-shot of the impact of an acquisition, which investors can evaluate before making an investment decision.

issuer making an acquisition at 40% to 100% significance, we think that the benefits of harmonization between the prospectus and continuous disclosure requirements outweigh the benefits of a requirement to include BAR-level disclosure about a proposed acquisition in this situation.

16 No One commenter suggested that if the essence of the transaction is disclosed, through satisfying the requirement for full, true and plain disclosure, then


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BAR disclosure would not always be required.

Question 4: BARs – Do you think that an information circular should always include BAR-level disclosure about a proposed acquisition if it is significant in the 40% to 100% range, and the matter to be voted on is the proposed acquisition?

17 Yes Five commenters think that an information circular should always include BAR-level disclosure about a proposed acquisition in this type of situation. One commenter indicated that shareholders should have access to BAR level disclosure to evaluate the financial impact of an acquisition on their company, prior to voting.

We thank the commenters for their input. While we acknowledge the benefits of including BAR-level disclosure in an information circular in certain circumstances, we think that harmonization between the information circular and continuous disclosure requirements is also important. Given the limited number of historical instances where BAR-level disclosure in an information circular was required for a venture issuer making an acquisition at 40% to 100% significance, we think that the benefits of harmonization between the information circular and continuous disclosure requirements outweigh the benefits of a requirement to include BAR-level disclosure about a proposed acquisition in this situation.

18 No One commenter suggested that if the essence of the transaction is disclosed, through satisfying the requirement for full, true and plain disclosure, then BAR disclosure would not always be required.

We acknowledge the comment.

Question 5: BARs – Do you think we should require BAR-level disclosure in a prospectus where financing has been provided (by a vendor or third party) in respect of a recently completed acquisition significant in the 40% to 100% range, and any proceeds of the offering are allocated to the repayment of the financing?

19 Yes Three commenters think we should require BAR-level disclosure in a prospectus where financing has been provided in this type of situation. One commenter suggested that the vendor or third party should be knowledgeable enough to perform their own due diligence prior to financing an acquisition. The new investors who will be participating in the prospectus financing will not have had the benefit of the due diligence process and so should be provided BAR level disclosure in order to be able to assess the financial impact of the acquisition.

We thank the commenters for their input. While we acknowledge the benefits of including BAR-level disclosure in a prospectus in certain circumstances, we think that harmonization between the prospectus and continuous disclosure requirements is also important. Given the limited number of historical instances where BAR-level disclosure in a prospectus was required for a venture issuer making an acquisition at 40% to 100%

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significance, we think that the benefits of harmonization between the prospectus and continuous disclosure requirements outweigh the benefits of a requirement to include BAR-level disclosure about a proposed acquisition in this situation.

20 No Two commenters do not think BAR-level disclosure should be required in this type of situation. One commenter does not think this disclosure is required in the situation of vendor financing since there are no new investors needing to make an investment decision. One commenter suggested that if the essence of the transaction is disclosed, through satisfying the requirement for full, true and plain disclosure, then BAR disclosure would not always be required.


Question 6: BARs – If we were to require BAR-level disclosure in the situations outlined in questions 3, 4 and 5, the significance threshold for prospectus and information circular disclosure will not be harmonized with the threshold for continuous disclosure. Is this a problem?

21 Yes Two commenters think this may be a problem. One commenter believes that the significance thresholds should be the same. The continuous disclosure rules are complex and having different significance thresholds will further complicate matters. This additional complexity is incongruent with the CSA’s objective of making the filing process easier and less costly for venture issuers. One commenter is of the view that there will be a logical inconsistency in the two disclosure regimes - the appropriate response is to not change the threshold in the continuous disclosure regime from 40% to 100%.


22 No Two commenters do not think disharmonization is a problem. One commenter is supportive of the CSA’s proposal to increase the significance threshold for BARs from 40% to 100% for venture issuers (thereby reducing the instances where BARs are required). The commenter, however, does not object to the significance threshold for prospectus and information circular disclosure remaining at 40% in the circumstances described in questions 3, 4 and 5 above and therefore not being harmonized with the threshold for continuous disclosure. On a related note and of specific relevance to the commenter are the financial statement requirements applicable to a private issuer (a “Privco” that indirectly lists on the TSX Venture Exchange by way of a

We thank the commenters for their input. We continue to believe the significance thresholds should be harmonized between continuous disclosure and prospectus and information circular situations. We believe disharmonized thresholds could cause confusion in the market and could result in issuers restructuring their affairs in order to avoid providing BAR-level disclosure. Currently, under securities legislation, the requirement

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reverse takeover, change of business or qualifying transaction (as such terms are defined in the TSX Venture Exchange’s Corporate Financial Manual) with an existing exchange-listed issuer (a “Pubco”). The commenter considers it necessary for the applicable disclosure document filed in connection with such listing transactions (whether a prospectus, information circular or filing statement) to contain the financial statements of the Privco that would be required in an initial public offering prospectus for the Privco (if it were to file one). Given that it is possible for such indirect listing transactions to fall below the 100% significance threshold or not otherwise constitute a restructuring transaction (as defined in NI 51-102) for the Pubco (and therefore not trigger financial statement requirements for the Privco), the commenter is concerned that if the CSA increases the significance threshold for prospectus disclosure from 40% to 100% there may be a material discrepancy between the financial statements requirements applicable to Privco in a direct listing scenario as compared to an indirect listing scenario. Specifically, the Privco could potentially be in compliance with the prospectus-level disclosure requirement in both circumstances despite not having to provide financial statements in the latter. Within the context of Privco’s indirectly listing on the TSX Venture Exchange, this discrepancy would be mitigated by the Exchange’s prescribed financial statement requirements for reverse takeovers, change of business and qualifying transactions, however, in the absence of these exchange requirements, an increase in the significance threshold for prospectus disclosure from 40% to 100% may result in situations where a Privco can indirectly become a reporting issuer without having to provide any financial statements.

to provide prospectus-level disclosure for a private company in a situation such as an indirect listing is generally tied to the requirement to prepare and file a Form 51-102F5 Information Circular. The provisions of that form generally require prospectus-level disclosure of each entity whose securities are being changed, exchanged, issued or distributed. In our view, raising the BAR threshold will not affect the requirement to provide prospectus-level disclosure in an information circular in the indirect listing scenarios outlined by the commenter. The CSA is unable to comment on the comparable requirements under the TSX Venture Exchange’s Corporate Finance Manual. Moreover, the Amendments do not change the requirements under the TSX Venture Exchange’s Corporate Finance Manual.

Question 7: BARs – If we do not require BAR-level disclosure in the situations outlined above in questions 3, 4, and 5, do you think an investor will be able to make an informed investment or voting decision?

23 Yes One commenter suggested that if the essence of the transaction is disclosed through satisfying the requirements for full, true and plain disclosure, then an investor should have sufficient information on which to make an informed investment or voting decision.


24 No Two commenters think an investor will not be able to make an informed investment or voting decision. One commenter does not believe that investors will be able to make a sufficiently informed investment or voting decision if BAR-level disclosure is not required in the prospectus and information circular situations referred to above. One commenter responded “no”. Absent BAR level disclosure in the 40% to 100% significance range, the commenter believes that investors will not have sufficient information to be able to make an informed investment decision. BAR level disclosure provides information about the impact of an acquisition or proposed acquisition that stakeholders find very useful

We thank the commenters for their input. We continue to be of the view that 100% is an appropriate threshold for requiring financial statements in respect of the acquired business. In our view, for venture issuers, the costs of preparing those financial statements are more appropriately balanced with the benefits of having that financial disclosure when the reporting threshold is at the 100% level, regardless of

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when making investment decisions. Specifically, pro forma financial statements included in a BAR provide a numerical portrayal of an acquisition or proposed acquisition that is unlikely to be fully captured in a narrative discussion as required by the prospectus rules requiring full, true, and plain disclosure.

whether it is continuous disclosure, prospectus disclosure or information circular disclosure.

Question 8: Audit committees – Do you think we should provide exceptions from our proposed audit committee composition requirements for venture issuers similar to the exceptions in section 3.2 to 3.9 of NI 52-110? If so, which exceptions do you think are appropriate?

25 Yes Three commenters think we should provide exceptions from our proposed audit committee composition requirements. One commenter indicated that the possible exceptions as per NI 52-110 section 3.2-3.9 make sense. Although one commenter did not think it was necessary to provide all of the same exceptions, they noted that it would appear reasonable for the exceptions set forth in sections 3.4 (events outside control of member) and 3.5 (death, disability or resignation of a member) to apply to venture issuers (whether in their current form or in a modified form specific to venture issuers). One commenter believes that all these exceptions should be allowed for venture issuers.

We thank the commenters for their input. We have now included exceptions for events outside the control of the member (subsection 6.1.1(4) of NI 52-110) and for death, disability or resignation of a member (subsection 6.1.1(5) of NI 52-110).

26 No Two commenters do not think we should provide exceptions from the audit composition requirements. One commenter would recommend that no exceptions be provided. The commenter agrees that requiring a majority of the audit committee members be independent will enhance the governance of venture issuers and serve to improve scrutiny of quarterly reporting (as, unlike in the US, there is no requirement for auditor involvement during the quarters). They acknowledge that this requirement may potentially increase costs for many venture issuers, especially junior resource issuers, as their current audit committee members are often also management.

We thank the commenters for their input. We believe that limited exceptions from the audit committee composition requirements for events outside the control of the member and for death, disability or resignation of a member are appropriate.

Other comments related to proposed amendments to NI 51-102

NI 51-102

27 Removal of BAR requirement

One commenter indicated that BARs are a waste of time and effort as the information is predominantly included in the other disclosure documents and adds little to no value, but significant costs. Why do you need a set of financial statements when by CSA’s definition they would not be included in a full true and plain disclosure document?


28 Disagreement with BAR threshold of 100%

Two commenters disagree with increasing the BAR threshold to 100%. One commenter believes that increasing the threshold is inappropriate and that acquisitions in the 40% to 100% range are by nature significant. Information

We thank the commenters for their input. However, we continue to be of the view that 100% is an appropriate threshold for requiring financial statements in

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about such acquisitions should be publicly disclosed to shareholders with the amount of detail, including the financial information, required in a Form 51-102F4 BAR. One commenter disagrees that 100% or more of the market capitalization of the venture issuer is the correct threshold indicative of a transformational transaction for venture issuers. If any amendment to BARs is made, the significance level should be lowered rather than raised. The commenter agrees with the CSA’s comment that “The proposed 100% threshold test would mean that venture issuer investors would face reduced disclosures on transformational business acquisition transactions, which would then reduce their awareness of a venture issuer’s business acquisition activities.” Accordingly, the commenter does not support reducing disclosures to investors on business acquisition activities. They believe that the current BAR requirements should be retained and BARs should be provided when the acquisition is significant. The commenter urges the CSA to undertake a consultation with retail investors before making any such change to the requirement for BARs. The CSA 2014 Consultation Document states that results from a 2011 CSA Venture issuer investor survey “...suggest that investors may not view this reduction in business acquisition disclosure as significant in their decision to invest in a venture issuer. When asked to rank the importance of certain forms of disclosure, in making an investment decision, BARs were considered an important but not essential source of information.” The commenter’s understanding is that the 2011 investor survey referred to was limited to consultation with nine investors consisting of three portfolio managers, two investment advisors, and one each of an institutional advisor, underwriter/dealer, research analyst and investment banker. Whilst these individuals can be considered to be investors, the commenter believes that a survey conducted with a representative sample of investors is necessary in order to obtain information about their needs and expectations. The commenter believes that consultation with a broader sample of retail investors is necessary before any conclusions can be made about the likely impact on retail investor’s decision-making. Significant changes to disclosure requirements should not be introduced prior to such retail investor consultation. In the commenter’s view, benefits from the reduction in reporting time and cost do not outweigh the cost of reducing protections to investors and reducing confidence in the Canadian venture market. The commenter agrees with the CSA when it states that “Changes to the existing reporting and disclosure requirements could be taken by venture issuer

respect of the acquired business. We have seen, during the course of applications for exemptive relief from the BAR requirements, examples of acquisitions where financial statements were not available or would have required significant improvement for disclosure purposes. In our view, for venture issuers, the costs of preparing those financial statements are more appropriately balanced with the benefits of having that financial disclosure when the reporting threshold is at the 100% level.

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investors as an indicator of reduced market quality amongst venture issuers. It is possible that this perception could reduce confidence in the venture market...” The commenter does not agree, as the CSA suggests, that this would only result in a temporary effect until investors become more comfortable with the proposed reporting regime. In the commenter’s view, such changes could have a long-term effect on investor confidence in the venture issuer market. Questions in the Proposed Amendments document relating to BARs call into question the appropriateness of the significance level that the CSA has set for requiring BARs and suggests that benchmarking to other jurisdictions could be of real assistance to policy-makers in determining when a business acquisition is “significant” or “material” and therefore needs to be disclosed.

29 Proposal to eliminate pro forma financial statements

One commenter disagrees with the proposal to eliminate the requirement that BARs filed by venture issuers must include pro forma financial statements.

We thank the commenter for their input. However, we are of the view that the information provided in pro forma statements is largely available elsewhere in a venture issuer’s disclosure.

Form 51-102F1

30 Support for quarterly highlights

Two commenters agree with allowing venture issuers to provide quarterly highlights. One commenter indicated that it makes sense to allow junior issuers to provide quarterly highlights as this provides the key information shareholders are looking for and would be easier for them to read with less boilerplate. One commenter welcomes the CSA decision to maintain interim financial reports for venture issuers. The commenter is comfortable with the proposal to require venture issuers without significant revenue in the most recently completed financial year to provide “quarterly highlights” form of MD&A in interim periods. The commenter believes that the “quarterly highlights” form of MD&A should be subject to the same certification obligations as interim MD&A required from non-venture issuers.


31 Disagreement with quarterly highlights

Two commenters disagree with allowing venture issuers to provide quarterly highlights. One commenter was particularly concerned by the proposal to replace interim MD&As with “quarterly highlights” for venture issuers without “significant revenue”. Interim MD&A provides highly valuable disclosure and should be retained in its current form. If an issuer elects to become a reporting issuer in Canada, investors have expectations as to the body of disclosure that will be made available to them on a continuous basis and, in the commenter’s view, interim MD&As form part of the body of disclosure that

We thank the commenters for their input. However, we continue to believe that quarterly highlights disclosure is appropriate for venture issuers. One of the reasons we continue to believe quarterly highlights are appropriate is because they will allow venture issuers to focus their discussion on a

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investors expect to receive. One commenter supports the proposal to require interim financial reports for venture issuers for each of the 3, 6 and 9 month interim periods. The commenter recommends that MD&A be required for the interim financial reports. Reducing the level of disclosure by replacing MD&A with quarterly highlights will result in a gap in continuous disclosure information, making it more difficult for investors to determine whether to invest in or sell shares of a particular venture issuer and allowing too much time to lapse between regulators’ receipt of such information for purposes of review and investigation of possible issues. The proposal requires that those with “significant revenue” will be required to provide MD&A. However, those who determine they do not have “significant” revenue, will not be required to provide MD&A and will only provide quarterly highlights. As a result, such venture issuers will provide less information and investors may not obtain information about related party transactions, stock options and warrants, operating expenses or account payable information that would be relevant to their decision to sell or purchase securities. Such reduced disclosure would not be in the interests of investors or venture issuers since it will lead to reduced confidence and an increase in the cost of capital (at a minimum, in this subset of venture issuers). The commenter is of the view that these negative consequences far outweigh the purported benefits to investors “...because less time would be required to read through the quarterly highlights to locate salient information about a venture issuer’s operations” or through a reduction in the time and cost burden to venture issuers of producing interim MD&A. The commenter believes that the existing requirements in section 5.3 of NI 51-102 and Item 1.15 of Form 51-102F1 which require a venture issuer that has not had significant revenue from operations in either of its last two financial years to disclose in its MD&A, on a comparative basis, a breakdown of material components of:

(a) exploration and evaluation (E&E) assets (b) expensed research and development

costs; (c) intangible assets arising from

development; (d) general and administration costs, and (e) any material costs.

allow an investor to understand where and how the money was spent and is important information for investors to receive.

narrative description of the key developments of the business as opposed to simply completing form requirements that may be better suited to issuers at a further stage of development. We believe that quarterly highlights will give venture issuers the flexibility they need to focus their disclosure.

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32 Potential costs of quarterly disclosure

One commenter indicated that, as the annual MD&A requirements are not being changed under the proposal, they would expect many venture issuers would simply roll forward the annual MD&A disclosures, rather than investing time to revise and revamp the MD&A to provide only quarterly highlights. As a result, the commenter anticipates that ongoing cost savings as a result of this proposed change will be minimal; in fact, on initial implementation, the commenter would expect costs to increase as venture issuers would likely face professional fees from their legal counsel and/or financial consultants in the review of the first quarterly highlights report.

We anticipate that venture issuers that choose to use quarterly highlights will experience one-time start-up costs. However, we believe the time and cost will decrease as the issuer becomes familiar with quarterly highlights and will be less on an ongoing basis as the disclosure will not be as onerous to produce.

Proposed Form 51-102F6V

33 General support for Proposed Form 51-102F6V

One commenter indicated that they were supportive of the CSA’s proposal to implement a new tailored form of executive compensation disclosure for venture issuers.


34 General disagreement with Proposed Form 51-102F6V

Two commenters generally disagree with Proposed Form 51-102F6V. One commenter maintains that all public companies should be providing the same level of executive compensation disclosure. The commenter does not believe that the disclosure required under the current regime is a significant burden for issuers. Nor does the commenter believe that what is proposed in the Request for Comment will in fact reduce the burden on venture issuers in any meaningful way, but at the same time it will keep important information from shareholders. The information revealed by comprehensive executive compensation disclosure goes beyond merely the amounts disclosed: it enables shareholders to gather information about whether a board is properly carrying out its stewardship role of overseeing management and ensuring that executive pay is aligned with company performance. Executive compensation may be the most tangible manifestation that shareholders have of how effectively this role is being carried out. One commenter believes the proposed changes to compensation disclosure will be a step backwards in the progress that has been made since new executive compensation disclosure rules were adopted in 2008 and 2011 in order to make compensation decisions and their rationale clearer for the owners of public companies. In the end, owners of venture issuers, which comprise the majority of Canadian public companies, will have significantly less meaningful executive compensation information than non-venture owners and the commenter believes this is not a positive step for the capital markets and cannot be justified on a cost/benefit analysis. While the proposal to replace interim MD&As with quarterly financials for venture issuers without significant revenue will no doubt reduce the time and cost burden on venture issuers while continuing to provide necessary

We thank the commenters for their input; however, the current regime is tailored to venture issuers and their circumstances and was developed by balancing an investor’s need for information and the need to sustain a vibrant capital market. We continue to believe that it is important to have a distinction between venture and non-venture issuers. We believe tailored executive compensation disclosure is appropriate for venture issuers and of the most assistance to their security holders. We do not agree that Form 51-102F6V will result in less meaningful disclosure; instead, we believe that the disclosure will be more appropriate for issuers at this stage of development. We also do not believe that Form 51-102F6V will result in less overall disclosure for venture issuers. For example, the reduction of the number of executive officers that have to provide disclosure will not result in significantly less disclosure as most venture issuers

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information to investors, the same will not be true of the proposed executive compensation disclosure. The commenter questions the statement that investors will benefit because the disclosure would be more “concise, salient and easier to understand”. While the disclosure may be more concise it will not be more salient or easier to understand and in fact will prove the opposite: investors will not have all the information they need to make a meaningful assessment of executive compensation decisions. One commenter’s view is that venture issuers should not provide less disclosure with respect to executive compensation as compared with senior unlisted issuers or other issuers. One commenter fails to see how reducing the level of disclosure provided to investors improves the usefulness of such information, as is stated in the Proposed Amendments. They recommend that the format and/or manner in which information is disclosed be reconsidered and tested on retail investors (for both venture issuers and non-venture issuer investors) before taking the more drastic step of lessening the amount of disclosure in order to improve its usefulness.

only have three named executive officers. In addition, only requiring two, instead of three, years of executive compensation disclosure will not have a significant impact as the third year of disclosure will already be publicly available. We are also requiring that venture issuers provide more disclosure of options as compared to non-venture issuers. With respect to suggestions to test or consult with retail investors, we note that the comment process is open to all interested parties, including retail investors. The comment process is the most comprehensive way for retail investors and others to put forward their views.

35 Disagreement with proposal for reduction of NEOs from five to three

Five commenters disagree with the proposal to reduce the number of executive officers from whom disclosure is required from five to three. With respect to the proposed changes to the executive compensation disclosure, one commenter did not understand the rationale for reducing the number of individuals for whom disclosure is required, nor the number of years of disclosure from three to two. In the commenter’s experience, venture issuers tend to have less complicated corporate structure than more established, senior issuers, and thus should be able to identify the requisite five named executive officers for full disclosure. One commenter indicated that executive compensation disclosure is important to investors and the commenter believes that it should be consistent no matter the size of the issuer. Therefore, the commenter opposes requiring executive compensation disclosure for only the top three, rather than top five, named executive officers of a venture issuer. One commenter does not support reducing the number of “named executive officers” for which compensation disclosure is required from five to three. If an executive meets the prescribed threshold (total compensation of more than $150,000) there is no reason to assume information about his or her compensation would not be material to shareholders assessing a venture issuer's compensation program. The additional burden on venture issuers would be minimal.

We thank the commenters for their input. We continue to believe that reducing the number of named executive officers for whom disclosure is required will reduce the disclosure burden on venture issuers, while providing an appropriate level of disclosure for investors. We note that because of their size, many venture issuers only have three named executive officers. We also note that requiring disclosure for three named executive officers for venture issuers is not inconsistent with international practice. For instance, we understand that this is comparable to the disclosure requirement for emerging growth companies under the US JOBS Act.

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One commenter does not believe the number of individuals for whom disclosure is required should be reduced from a maximum of five to a maximum of three. One commenter supported the current requirement to disclose a maximum of 5 individuals. For many venture issuers, there are only a few executives, and the majority of these issuers’ expenses tend to be management and executive salaries. As many venture issuers are cash constrained, or pre-revenue, the commenter believes that, instead of limiting disclosure to a maximum of three individuals (the CEO, the CFO, and the next highest paid executive), investors’ and stakeholders’ needs might be better served by requiring that a minimum of three individuals’ (including the CEO and CFO) compensation be disclosed.

36 Disagreement with proposal for two years of disclosure instead of three

Four commenters disagree with the proposal for two years of executive compensation disclosure instead of three. One commenter believes that two years of executive compensation data is insufficient for investors to assess the linkage between pay and performance, particularly since the performance measurement period for major components of executive pay often spans beyond this time frame. One commenter stated that, typically, executive compensation programs incorporate elements that are designed to reward performance over a time frame of greater than two years, especially when securities based awards are part of the program. A two year picture does not provide enough information about the alignment of compensation and company performance to enable shareholders to meaningfully assess the link. One commenter believes there is merit to retaining disclosure of executive compensation for 3 years. Investors rely on management to ensure appropriate stewardship of the issuer, and a third year of disclosure may show trends and provide better insight into evaluating changes in executive compensation against the issuer’s performance.

We thank the commenters for their input, but are of the view that two years of historical executive and director compensation disclosure is sufficient in the venture issuer context. If an investor is interested in additional disclosure, the third year of disclosure would be available in past executive compensation disclosure filed on SEDAR.

37 Combining NEO and director compensation in one table

Two commenters do not agree with combining executive officer and director compensation in one table. One commenter believes that combining NEO and director compensation information into one table reduces the clarity and utility of that disclosure, while doing nothing to lessen the burden on venture issuers. It is implausible to suggest that separating the same information into two tables is more onerous than placing the same information in one table. It also has the effect of implying that the roles of management and directors, and the way they should be

We thank the commenters for their input. However, we think that simplifying the disclosure by combining the NEO and director compensation in one table will be a benefit to venture issuers and their investors. Specifically, we believe this will give investors a clearer snapshot of executive compensation and will be less confusing.

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compensated for those roles, are similar, which is incorrect. The commenter believes it is especially important to be clear on the differences between these roles in the case of venture issuers since they are more likely to have related parties in executive and director roles. The proposed amendments also appear to contemplate aggregating the compensation for two different roles (e.g. CEO and director) into one figure within the table. The commenter suggests that it should be very clear whether the CEO, for example, is receiving options in his or her capacity as CEO or as a director. To do otherwise would seem to defeat the purpose of the disclosure.

We have included a new requirement that if a NEO is also a director, the issuer must include a footnote to the table to identify how much compensation the NEO received for each role.

38 Support for removal of grant date fair value

One commenter supports the proposal to eliminate the requirement to disclose the grant date fair value of stock options and other share-based awards to executives as this information is available in the financial statements. The financial statement disclosure of detailed information about stock options and other equity-based awards issued, held and exercised, will provide sufficient information for investors to assess how, and to what extent, the issuer’s executives are being compensated. For many venture issuers, the grant date fair value of awards tends to distort the true compensation paid to executives and board members, as many of these options and other share-based awards expire unexercised.


39 Disagreement with removal of grant date fair value

Three commenters disagree with the proposal to remove disclosure of grant date fair value. One commenter suggests reinstating the requirement to disclose the grant date fair value of stock options, as the commenter believes that these details provide useful information for investors of venture issuers. The grant date fair value reflects the board’s intentions with respect to compensation, and provides investors with a deeper understanding of the link between pay and performance. While one commenter supports the proposal to allow stock options or other securities-based compensation to be disclosed at fair market value at the time options are exercised, they do not support the elimination of the current requirement to disclose the grant date fair value of stock options. What the board intends to pay an executive at the time the award is made is valuable information for shareholders and, in conjunction with the disclosure of fair market value at the time of exercise, allows shareholders to compare how the actual return to an executive compares with the board's intentions. Further, since options may comprise a large portion, if not all, of variable pay at venture issuers, a requirement that grant date fair values be disclosed will ensure that directors of these issuers consider the measure of wealth transfer from shareholders to executives when granting options and be in a position to justify to shareholders that the value is warranted. In any case, options should not be

We thank the commenters for their input. In the venture issuer context, options are granted with a view to future growth of the company rather than a specific value attributed at the grant date. It is our understanding that the recipient accepts this form of compensation because they believe that the value of the company will increase with time and effort, not based on the grant date value of the options. Investors may also be interested in the pay actually received by NEOs since it provides information as to the overall alignment between executive compensation and the shareholders’ experience. We also note that issuers who use Canadian GAAP applicable to publicly accountable enterprises are required to disclose in the

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granted without an understanding of the value of those options. The commenter questions the monetary savings that the CSA states would be realized by venture issuers with the elimination of the need to have a valuation undertaken for options awarded since this must be done annually for accounting purposes in any event. One commenter does not agree that the requirement for venture issuers to calculate and disclose the grant date fair value of stock options and other share-based awards in the compensation table should be eliminated. The current requirement of grant date fair value provides important information to investors as it discloses the amount the board intends to pay an executive at the time the award is made. Having this information along with disclosure of the amount realized by the executive at the time it is earned (or “exercised”) would allow investors to compare the two amounts. It also allows directors to consider the amount of money transferred to its executives at the time such options are granted, thereby assisting directors in justifying such transfers of wealth to shareholders. The Canadian Council of Good Governance has taken the same position. The commenter questions why venture issuers would not want to know the fair value of the stock options they provide to an executive at the time it is granted. This should be viewed as necessary information in order to justify to shareholders that the compensation granted to that individual is appropriate. Accordingly, eliminating this required disclosure may result in directors not having information that they need in order to fulfil their duties in a robust manner. Such a change should not be implemented solely to allow for the possibility of monetary savings from the elimination of the need to have a valuation undertaken for options awarded in order to comply with regulatory requirements.

notes to the financial statements the fair value of the options as at the measurement date in accordance with IFRS 2.

40 Compensation securities One commenter understands that one of the goals of the CSA in adopting the use of a Summary Compensation Table in 2008 was to provide shareholders with one aggregate number that would tell them what directors intended to pay each named executive officer in a particular year. By removing information about compensation securities from the Summary Compensation Table, and placing it in a separate Compensation Securities Table which does not require valuations, this goal is frustrated. The information is just as relevant to investors in venture issuers as it is for investors in other public companies.

We thank the commenter for their input. However, we believe having a separate table of compensation securities, which includes more detailed disclosure of those securities than the Form 51-102F6 is more reflective of a venture issuer’s compensation. We also believe this will be more user-friendly for venture issuers to prepare and for their investors to understand.

41 Section 2.1(1) One commenter thought the disclosure of perquisites as a separate line item seems frivolous and detailed

We have included a staggered threshold for

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disclosure should only have to be made if it exceeds a certain threshold such as $5,000.

perquisite disclosure: $15,000 if the NEO or director’s salary is $150,000 or less, 10% of salary if the NEO or director’s salary is greater than $150,000 but less than $500,000 or $50,000 if the NEO or director’s salary is $500,000 or greater.) See subsection 2.1(4) of Form 51-102F6V.

42 Section 2.3(3)(a) One commenter notes that under section 2.3(3)(a) of proposed Form 51-102F6V, the Compensation Securities Table must be accompanied by a note that discloses “the total amount of compensation securities, and underlying securities, held by each named executive officer or director” but that it is not clear whether “amount” refers to number or value of securities held. The commenter believes both should be disclosed.

We thank the commenter for their input. We have revised paragraph 2.3(3)(a) to clarify that a venture issuer must disclose the number of securities held. We do not believe it is appropriate to require the value of the securities held. We believe that in the venture issuer context, compensation securities are granted with a view to future growth of the company rather than a specific value attributed at the grant date.

43 Section 2.3(4) One commenter thought the table should remove date of exercise and price on the date and just allow an aggregate number for the year including gross value realized. If an investor wants to research dates, etc. they can go to the SEDI filings.

We thank the commenter for their input. However, we think including all of this information in the table will be more useful for investors without resulting in any extra burden for the issuer (i.e., the issuer would have needed all of this information in order to provide aggregate totals).

44 Proposal to reduce duplication of information

One commenter supports efforts to reduce duplication of information and believes that a brief summary of governance requirements and other attachments to the information circular could be provided (rather than the full documents) with links to the full documents on the listed issuer’s website. Implementing such a change could reduce the size of many information circulars by 50 per cent or more.

We thank the commenter for their input. However, this is outside the scope of the project.


45 Support for reducing the number of years of audited financial statements in an IPO prospectus

One commenter supports the proposal to reduce, from three to two, the number of years of audited historical financial statements and related disclosures in the “Description of the business and history”. For many venture issuers, the third year is not as relevant in an initial public offering (IPO). Investors are more likely to rely on strong management than on the historical performance of the issuer, when making investment


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decisions in many IPO situations. The commenter notes that two years of historical financial information is also consistent with requirements for IPO filings with the Securities and Exchange Commission.


46 Support for proposal that audit committees must have a majority of directors who are not executive officers, employees or control persons

Five commenters support the audit committee independence proposal. One commenter noted that the TSX Venture Exchange already has a similar requirement, and thus requiring all venture issuers to have a majority of independent audit committee members would help place all similarly situated issuers on a level playing field. Independence is key to the proper functioning of the audit committee and its oversight functions relating to the external auditor.


47 Support for additional requirements on composition of audit committee

Three commenters thought we should propose additional requirements for audit committees. One commenter encourages the CSA to require stronger governance standards for venture issuers on the composition of their audit committees. The commenter believes that the governance standards for audit committees should be consistent no matter the size of the issuer. Therefore, the commenter would encourage the CSA to consider amendments that would require venture issuers to have an audit committee consisting of at least three members, all of whom are independent. One commenter supports the CSA's move to introduce a mandatory independence standard to the composition of audit committees of venture issuers. The commenter suggests, however, that the CSA should go further and introduce a more stringent independence requirement, as well as an expectation of financial literacy, for members of venture issuer audit committees. The commenter summarized the proposed amendments as requiring that, for venture issuers:

• audit committees be composed of at least three members, and

• a majority of the members of the audit

committee must not be executive officers, employees or control persons of the venture issuer or of an affiliate of the venture issuer.

The first requirement is the same as for non-venture issuers. The second, however, falls short of the non-venture requirements in two ways: (i) only a majority of the members must reflect the specified standard of independence whereas for non-venture issuers all of the audit committee members must be independent and (ii) the standard of independence required is not as stringent. The commenter believes that both of

We thank the commenters for the input. We continue to believe that venture issuers should be exempted from additional audit committee composition requirements to reflect the practical realities those issuers face, which includes difficulties in finding and compensating independent directors.

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these shortcomings should be remedied. The commenter’s view is that the audit committees of all public companies should be wholly independent, given the unique importance of the audit committee role in protecting the investors' interests. The proposed independence requirements for venture issuers would permit legal and other advisors, consultants and family members of executive officers or employees to sit on the audit committee and the commenter does not believe this is any more appropriate for smaller public companies than it is for larger more established ones. At the very least, the commenter suggests that if their views are not accepted and thus the less stringent standard of independence is retained, then all of the members of the audit committee must meet that standard and not just a majority. Further, the chair of the audit committee should be independent. One commenter supports enhanced requirements for impartiality by venture audit committees. The commenter that the CSA consider requiring that the majority of audit committee members also be “independent” as that is defined by NI 52-110 or another suitable definition. Such reforms would increase governance standards for venture issuers.

48 Financial literacy Three commenters support a financial literacy requirement for audit committees. One commenter recommends that NI 52-110 require that at least one member of a venture issuer’s audit committee be financially literate (having the same meaning as set forth in section 1.6 of NI 52-110). This would be a prudent means of helping ensure that a venture issuer’s audit committee has the necessary knowledge and expertise to read and understand a set of financial statements. One commenter suggested that, given that the applicable definition of 'financially literate' is not demanding, this minimum level of expertise and understanding should be required of the audit committee members of venture issuers.

We thank the commenters for the input. We continue to believe that venture issuers should be exempted from additional audit committee composition requirements to reflect the practical realities those issuers face, which includes difficulties in finding and compensating financially literate directors. We note that venture issuers are still required to include disclosure of financial literacy of their audit committee members.

49 Size of audit committee One commenter suggested the number of audit committee members does not have to be set at three; it could be two, both of whom are independent. Small boards can function well and as long as there are at least two independent and a majority of independent directors, that should be sufficient.

We thank the commenter for their input. We do not believe that requiring an audit committee of three members is burdensome. We note that some exchanges already include a requirement that each audit committee have three members.

50 Exception from application of audit committee requirements for certain entities

One commenter states that section 1.2(e) of NI 52-110 provides an exception from the application of NI 52-110 for an issuer that is a “subsidiary entity” if the entity “does not have equity securities (other than non-

We thank the commenter for their input. This appears to be a fact pattern unique to this particular issuer,

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convertible, non-participating preferred securities) trading on a marketplace”, provided that the parent of the entity is subject to NI 52-110, as set forth in section 1.2(3)(ii). In order for the exception to apply, an entity must be a “subsidiary entity” which requires the entity to be “controlled” by a person or company, which is the parent referred to in section 1.2(e)(ii). “Control” is defined to mean “the direct or indirect power to direct or cause the direction of the management and policies of a person or company, whether through ownership of voting securities or otherwise”. The commenter assumes that this exception is meant to reflect the fact that, as a controlled entity, the financial results of the subsidiary entity would typically ne consolidated into the parent company’s results, and the audit committee of the parent would provide oversight of the subsidiary with an appropriate level of independence and financial literacy. The current exception does not apply to some companies that are jointly owned by more than one entity. Although all of the parent entities may be subject to and in compliance with NI 52-110, none of the parent entities on its own “controls” the company with the meaning of the applicable definition (i.e. individually is in a position to direct or cause the direction of the management and policies of the company). Ultimately, each parent entity of the company uses equity accounting with respect to the company in reporting its own financial position and results and as such, the audit committee of each parent entity provides oversight of the company as part of the parent company’s processes. Given further that none of the company’s equity securities trade on a marketplace, the commenter does not see a policy reason why the company should not receive the same exception to the application of NI 52-110 as an entity that is controlled and consolidated by only a single entity. The commenter submits that:

(a) NI 52-110, section 1.2(e) should be expanded to exempt an entity that does not have equity securities trading on a marketplace, where a majority of its voting securities are held by more than one entity that consolidates or uses equity accounting with respect to the amounts of the issuer entity on their own financial statements and that are subject to and in compliance with NI 52-110; or

(b) In the alternative, they would suggest that

the CSA consider providing an exception to the proposed venture issuer audit committee composition requirements of Part 6 of NI 52-110, for a venture issuer where a majority of its voting securities

which is outside the scope of the amendments. The issuer may want to consider applying for exemptive relief.

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are held by entities that consolidate or use equity accounting with respect to the accounts of the issuer entity on their own financial statements and are in compliance with NI 52-110.

Alternatively, the commenter requests guidance on the circumstances when the CSA would be willing to grant an exemption order to a venture issuer from the proposed Part 6 of NI 52-110.

Comments related to NI 58-101

51 Exception from application of corporate governance requirements to certain entities

One commenter submitted that where a majority of a venture issuer’s voting securities are held by one or more entities that are subject to NI 58-101 and its financial results are consolidated or incorporated by equity accounting into such parent entities, there is sufficient oversight of the subsidiary entity’s governance practices provided by the parents. Accordingly, the commenter submits that a more principles-based disclosure would be appropriate, outlining the general manner in which the venture issuer approaches corporate governance, rather than requiring specific disclosure on all of the items currently set forth in Form 58-101F2. While many of such items may well be covered by a venture issuer under more general principles-based disclosure, the commenter suggests that more flexibility in the disclosure requirements than is currently provided under Form 58-101F2 would be appropriate.

We thank the commenter for their input, but this is outside the scope of this project. The issuer may want to consider applying for exemptive relief.

Comments not related to a particular instrument

52 Duties to act honestly and in good faith and to exercise care, skill and diligence

One commenter recommends that TSX and TSXV listing requirements and a national instrument require that all listed issuers, including venture issuers, be incorporated in a jurisdiction with corporate legislation that meets minimum corporate governance standards, including directors’ duties to act honestly and in good faith and to exercise care, skill and diligence. Issuers should be required to be incorporated in a jurisdiction with an acceptable standard of corporate governance (i.e. in a major developed jurisdiction). The commenter’s understanding is that the TSXV does not require that listed issuers be incorporated in Canada or pursuant to the corporate laws of a Canadian province or territory, and simply requires that the applicant complete a reconciliation of its constating documents and the corporate law or equivalent legal regime of its home jurisdiction with that of the Canada Business Corporations Act where the applicant is not incorporated or created under the laws of Canada or any Canadian province. It also imposes on directors and officers the requirements to act honestly and in good faith with a view to the best interests of the issuer and to exercise the care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances.

We thank the commenter for their input, but this is outside the scope of this project.

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However, the latter requirements are contractual relationships between the TSXV and the issuer and would be difficult for a shareholder to enforce against an issuer incorporated in the British Virgin Islands or in China (for example).

53 Address listings conflict of interest

One commenter recommends that the CSA address the conflict of interest between the listing regulatory responsibilities and listing commercial operations of TSX and TSXV and bring them in line with international standards.

We thank the commenter for their input, but this is outside the scope of this project.

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ANNEX D1

AMENDMENTS TO NATIONAL INSTRUMENT 51-102 CONTINUOUS DISCLOSURE OBLIGATIONS

1. National Instrument 51-102 Continuous Disclosure Obligations is amended by this Instrument. 2. Paragraph 5.3(2)(b) is amended by adding “for an issuer that is not providing disclosure in accordance with section

2.2.1 of Form 51-102F1” after “interim MD&A”. 3. Subsection 5.4(1) is amended by replacing “MD&A” with “annual MD&A and, if the issuer is not providing

disclosure in accordance with section 2.2.1 of Form 51-102F1, its interim MD&A,”. 4. Paragraph 5.7(2)(b) is amended by adding “for an issuer that is not providing disclosure in accordance with section

2.2.1 of Form 51-102F1” after “interim MD&A”. 5. Paragraphs 8.3(1)(b) and (3)(b) are amended by replacing “40 percent” with “100 percent”. 6. Subsection 8.4(5) is amended by adding “issuer other than a venture” after “a reporting”. 7. Section 9.3.1 is amended

(a) in subsection (1) by replacing “sends” with “is required to send”, (b) in paragraph (1)(b) by deleting “, applying reasonable effort,”, (c) in subsection (2) by replacing “, in accordance with, and subject to any exemptions set out in, Form 51-

102F6 Statement of Executive Compensation, which came into force on December 31, 2008” with “and in accordance with Form 51-102F6 Statement of Executive Compensation”,

(d) by adding the following subsections:

(2.1) Despite subsection (2), a venture issuer may provide the disclosure required by subsection (1) for the periods set out in and in accordance with Form 51-102F6V Statement of Executive Compensation – Venture Issuers. (2.2) The disclosure required under subsection (1) must be filed

(a) not later than 140 days after the end of the issuer’s most recently completed financial year, in the case of an issuer other than a venture issuer, or

(b) not later than 180 days after the end of the issuer’s most recently completed financial year,

in the case of a venture issuer.,

(e) in subsection (3) by replacing “, which came into force on December 31, 2008” with “or, for a venture issuer relying on subsection (2.1), in Form 51-102F6V Statement of Executive Compensation – Venture Issuers”,

(f) by repealing subsection (4), and (g) by adding the following subsection:

(5) Subsection (2.2) applies to an issuer in respect of a financial year beginning on or after July 1, 2015..

8. Section 11.6 is amended

(a) in subsection (1) by replacing “does not send to its securityholders” with “is not required to send to its securityholders an information circular and does not send”, and

(b) in paragraph (1)(b) by deleting “, applying reasonable effort,”, (c) in subsection (2) by striking out “, which came into force on December 31, 2008”,

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(d) by adding the following subsection:

(2.1) Despite subsection (2), a reporting issuer that is a venture issuer may provide the disclosure required under subsection (1) for the periods set out in and in accordance with Form 51-102F6V Statement of Executive Compensation – Venture Issuers.,

(e) in subsection (4) by deleting “, which came into force on December 31, 2008” and replacing it with “or, for

a venture issuer relying on subsection (2.1), in Form 51-102F6V Statement of Executive Compensation – Venture Issuers”, and

(f) by repealing subsection (6).

9. Paragraph (g) of Part 1 of Form 51-102F1 is replaced by the following:

(g) Venture Issuers If your company is a venture issuer, you have the option of meeting the requirement to provide interim MD&A under section 2.2 by instead providing quarterly highlights disclosure. Refer to Companion Policy 51-102CP for guidance on quarterly highlights. If your company is a venture issuer without significant revenue from operations, in your MD&A including any quarterly highlights, focus your discussion and analysis of financial performance on expenditures and progress towards achieving your business objectives and milestones..

10. Item 2 of Part 2 of Form 51-102F1 is amended by adding the following section:

2.2.1 Quarterly Highlights If your company is a venture issuer, you have the option of meeting the requirement to provide interim MD&A under section 2.2 by instead providing a short discussion of all material information about your company’s operations, liquidity and capital resources. Include in your discussion:

• an analysis of your company’s financial condition, financial performance and cash flows and any significant factors that have caused period to period variations in those measures;

• known trends, risks or demands; • major operating milestones; • commitments, expected or unexpected events, or uncertainties that have materially affected your

company’s operations, liquidity and capital resources in the interim period or are reasonably likely to have a material effect going forward;

• any significant changes from disclosure previously made about how the company was going to use

proceeds from any financing and an explanation of variances; • any significant transactions between related parties that occurred in the interim period. INSTRUCTIONS (i) If the first MD&A you file in this Form (your first MD&A) is an interim MD&A, you cannot use quarterly

highlights. Rather, you must provide all the disclosure called for in Item 1 in your first MD&A. Base the disclosure, except the disclosure for section 1.3, on your interim financial report. Since you do not have to update the disclosure required in section 1.3 in your interim MD&A, your first MD&A will provide disclosure under section 1.3 based on your annual financial statements.

(ii) Provide a short, focused discussion that gives a balanced and accurate picture of the company’s

business activities during the interim period. The purpose of the quarterly highlights reporting is to provide a brief narrative update about the business activities, financial condition, financial performance and cash flow of the company. While summaries are to be clear and concise, they are subject to the normal prohibitions against false and misleading statements.

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(iii) Quarterly highlights prepared in accordance with section 2.2.1 are not required for your company’s fourth quarter as relevant fourth quarter content will be contained in your company’s annual MD&A prepared in accordance with Item 1 (see section 1.10).

(iv) You must title your quarterly highlights “Interim MD&A – Quarterly Highlights”. (v) If there was a change to the company’s accounting policies during the interim period, include a

description of the material effects resulting from the change. 2.2.2 Quarterly Highlights – Transition Section 2.2.1 applies to an issuer in respect of a financial year beginning on or after July 1, 2015..

11. Item 5.4 of Form 51-102F2 is replaced with the following:

5.4 Companies with Mineral Projects

If your company had a mineral project, provide the following information, by summary if applicable, for each project material to your company: (1) Current Technical Report – The title, author(s), and date of the most recent technical report on the

property filed in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects.

(2) Project Description, Location, and Access

(a) The location of the project and means of access. (b) The nature and extent of your company’s title to or interest in the project, including surface

rights, obligations that must be met to retain the project, and the expiration date of claims, licences and other property tenure rights.

(c) The terms of any royalties, overrides, back-in rights, payments or other agreements and

encumbrances to which the project is subject. (d) To the extent known, any significant factors or risks that might affect access or title, or the

right or ability to perform work on, the property, including permitting and environmental liabilities to which the project is subject.

(3) History

(a) To the extent known, the prior exploration and development of the property, including the type, amount, and results of any exploration work undertaken by previous owners, any significant historical estimates, and any previous production on the property.

(4) Geological Setting, Mineralization, and Deposit Types

(a) The regional, local, and property geology. (b) The significant mineralized zones encountered on the property, the surrounding rock types

and relevant geological controls, and the length, width, depth and continuity of the mineralization together with a description of the type, character and distribution of the mineralization.

(c) The mineral deposit type or geological model or concepts being applied.

(5) Exploration – The nature and extent of all relevant exploration work other than drilling, conducted by or on behalf of your company, including a summary and interpretation of the relevant results.

(6) Drilling – The type and extent of drilling and a summary and interpretation of all relevant results.

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(7) Sampling, Analysis, and Data Verification – The sampling and assaying including, without limitation,

(a) sample preparation methods and quality control measures employed before dispatch of

samples to an analytical or testing laboratory, (b) the security measures taken to ensure the validity and integrity of samples taken, (c) assaying and analytical procedures used and the relationship, if any, of the laboratory to

your company, and (d) quality control measures and data verification procedures, and their results.

(8) Mineral Processing and Metallurgical Testing – If mineral processing or metallurgical testing analyses have been carried out, describe the nature and extent of the testing and analytical procedures, and provide a summary of the relevant results and, to the extent known, provide a description of any processing factors or deleterious elements that could have a significant effect on potential economic extraction.

(9) Mineral Resource and Mineral Reserve Estimates – The mineral resources and mineral reserves,

if any, including, without limitation,

(a) the effective date of the estimates, (b) the quantity and grade or quality of each category of mineral resources and mineral

reserves, (c) the key assumptions, parameters, and methods used to estimate the mineral resources and

mineral reserves, and (d) the extent to which the estimate of mineral resources and mineral reserves may be

materially affected by metallurgical, environmental, permitting, legal, title, taxation, socio-economic, marketing, political, and other relevant issues.

(10) Mining Operations – For advanced properties, the current or proposed mining methods, including a

summary of the relevant information used to establish the amenability or potential amenability of the mineral resources or mineral reserves to the proposed mining methods.

(11) Processing and Recovery Operations – For advanced properties, a summary of current or

proposed processing methods and reasonably available information on test or operating results relating to the recoverability of the valuable component or commodity.

(12) Infrastructure, Permitting, and Compliance Activities – For advanced properties,

(a) the infrastructure and logistic requirements for the project, and (b) the reasonably available information on environmental, permitting, and social or community

factors related to the project.

(13) Capital and Operating Costs – For advanced properties,

(a) a summary of capital and operating cost estimates, with the major components set out in tabular form, and

(b) an economic analysis with forecasts of annual cash flow, net present value, internal rate of

return, and payback period, unless exempted under Instruction (2) to Item 22 of Form 43-101F1.

(14) Exploration, Development, and Production – A description of your company’s current and

contemplated exploration, development or production activities.

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INSTRUCTIONS (i) Disclosure regarding mineral exploration, development or production activities on material projects must

comply with National Instrument 43-101 Standards of Disclosure for Mineral Projects, including the limitations set out in it. You must use the appropriate terminology to describe mineral reserves and mineral resources. You must base your disclosure on information prepared by, under the supervision of, or approved by, a qualified person.

(ii) You are permitted to satisfy the disclosure requirements in section 5.4 by reproducing the summary from the

technical report on the material property and incorporating the detailed disclosure in the technical report into the AIF by reference.

12. Paragraph (c) of Part 1 of Form 51-102F5 is amended by adding “or Form 51-102F6V Statement of Executive

Compensation – Venture Issuers” after “Form 51-102F6 Statement of Executive Compensation”. 13. Item 8 of Part 2 of Form 51-102F5 is amended by adding “or, in the case of a venture issuer, a completed Form 51-

102F6 Statement of Executive Compensation or a completed Form 51-102F6V Statement of Executive Compensation – Venture Issuers” after “Form 51-102F6 Statement of Executive Compensation”.

14. Subsection 1.3(10) of Form 51-102F6 is amended by deleting “, applying reasonable effort,”. 15. Commentary 1 of section 2.1 of Form 51-102F6 is amended by deleting “, applying reasonable effort,”. 16. Commentary 2 of subsection 3.1(10) of Form 51-102F6 is amended by deleting “still”. 17. Subsection 8.1(1) of Form 51-102F6 is amended by replacing “required by” with “they are required to disclose in

the United States under”. 18. The following form is added:

Form 51-102F6V Statement of Executive Compensation – Venture Issuers

Table of Contents

Item 1 General Provisions 1.1 Objective 1.2 Definitions 1.3 Preparing the form Item 2 Director and Named Executive Officer Compensation 2.1 Director and named executive officer compensation, excluding options and compensation securities 2.2 External management companies 2.3 Stock options and other compensation securities and instruments 2.4 Stock option plans and other incentive plans 2.5 Employment, consulting and management agreements 2.6 Oversight and description of director and named executive officer compensation 2.7 Pension disclosure 2.8 Companies reporting in the United States Item 3 Effective Date and Transition 3.1 Effective date 3.2 Transition

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Form 51-102F6V Statement of Executive Compensation – Venture Issuers

ITEM 1 – GENERAL PROVISIONS 1.1 Objective

All direct and indirect compensation provided to certain executive officers and directors for, or in connection with, services they have provided to the company or a subsidiary of the company must be disclosed in this form. The objective of this disclosure is to communicate the compensation the company paid, made payable, awarded, granted, gave or otherwise provided to each named executive officer and director for the financial year, and the decision-making process relating to compensation. This disclosure will provide insight into executive compensation as a key aspect of the overall stewardship and governance of the company and will help investors understand how decisions about executive compensation are made. A company’s executive compensation disclosure under this form must satisfy this objective and subsections 9.3.1(1) or 11.6(1) of the Instrument. While the objective of this disclosure is the same as the objective in section 1.1 of Form 51-102F6, this form is to be used by venture issuers only. Reporting issuers that are not venture issuers must complete Form 51-102F6.

1.2 Definitions

If a term is used in this form but is not defined in this section, refer to subsection 1.1(1) of the Instrument or to National Instrument 14-101 Definitions. In this form, “company” includes other types of business organizations such as partnerships, trusts and other unincorporated business entities; “compensation securities” includes stock options, convertible securities, exchangeable securities and similar instruments including stock appreciation rights, deferred share units and restricted stock units granted or issued by the company or one of its subsidiaries for services provided or to be provided, directly or indirectly, to the company or any of its subsidiaries; “external management company” includes a subsidiary, affiliate or associate of the external management company; “named executive officer” or “NEO” means each of the following individuals: (a) each individual who, in respect of the company, during any part of the most recently completed

financial year, served as chief executive officer, including an individual performing functions similar to a chief executive officer;

(b) each individual who, in respect of the company, during any part of the most recently completed

financial year, served as chief financial officer, including an individual performing functions similar to a chief financial officer;

(c) in respect of the company and its subsidiaries, the most highly compensated executive officer other

than the individuals identified in paragraphs (a) and (b) at the end of the most recently completed financial year whose total compensation was more than $150,000, as determined in accordance with subsection 1.3(5), for that financial year;

(d) each individual who would be a named executive officer under paragraph (c) but for the fact that the

individual was not an executive officer of the company, and was not acting in a similar capacity, at the end of that financial year;

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“plan” includes any plan, contract, authorization, or arrangement, whether or not set out in any formal document, where cash, compensation securities or any other property may be received, whether for one or more persons; “underlying securities” means any securities issuable on conversion, exchange or exercise of compensation securities.

1.3 Preparing the form (1) All compensation to be included

(a) When completing this form, the company must disclose all compensation paid, payable, awarded, granted, given, or otherwise provided, directly or indirectly, by the company, or a subsidiary of the company, to each named executive officer and director, in any capacity, including, for greater certainty, all plan and non-plan compensation, direct and indirect pay, remuneration, economic or financial award, reward, benefit, gift or perquisite paid, payable, awarded, granted, given, or otherwise provided to the named executive officer or director for services provided and for services to be provided, directly or indirectly, to the company or a subsidiary of the company.

(b) If an item of compensation is not specifically mentioned or described in this form, disclose it in the

column “Value of all other compensation” of the table in section 2.1. Commentary 1. Unless otherwise specified, information required to be disclosed under this form may be prepared in

accordance with the accounting principles the company uses to prepare its financial statements, as permitted by National Instrument 52-107 Acceptable Accounting Principles and Auditing Standards.

2. The definition of “director” under securities legislation includes an individual who acts in a capacity

similar to that of a director.

(2) Departures from format

(a) Although the required disclosure must be made in accordance with this form, the disclosure may

(i) omit a table, column of a table, or other prescribed information, if it does not apply, and (ii) add a table, column, or other information if

(A) necessary to satisfy the objective in section 1.1, and (B) to a reasonable person, the table, column, or other information does not detract

from the prescribed information in the table in section 2.1.

(b) Despite paragraph (a), a company must not add a column to the table in section 2.1.

(3) Information for full financial year

(a) If a named executive officer acted in that capacity for the company during part of a financial year for which disclosure is required in the table in section 2.1, provide details of all of the compensation that the named executive officer received from the company for that financial year. This includes compensation the named executive officer earned in any other position with the company during the financial year.

(b) Do not annualize compensation in a table for any part of a year when a named executive officer was

not in the service of the company. Annualized compensation may be disclosed in a footnote.

(4) Director and named executive officer compensation

(a) Disclose any compensation awarded to, earned by, paid to, or payable to each director and named executive officer, in any capacity with respect to the company. Compensation to directors and named executive officers must include all compensation from the company and its subsidiaries.

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(b) Disclose any compensation awarded to, earned by, paid to, or payable to, a named executive officer, or director, in any capacity with respect to the company, by another person or company.

(5) Determining if an individual is a named executive officer

For the purpose of calculating total compensation awarded to, earned by, paid to, or payable to an executive officer under paragraph (c) of the definition of named executive officer, (a) use the total compensation that would be reported for that executive officer in the table in section 2.1,

as if the executive officer were a named executive officer for the company’s most recently completed financial year, and

(b) exclude any compensation disclosed in the column “Value of all other compensation” of the table in

section 2.1. Commentary The $150,000 threshold in paragraph (c) of the definition of named executive officer only applies when determining who is a named executive officer in a company’s most recently completed financial year. If an individual is a named executive officer in the most recently completed financial year, disclosure of compensation in the prior years must be provided even if total compensation in a prior year is less than $150,000.

(6) Compensation to associates

Disclose any awards, earnings, payments, or payables to an associate of a named executive officer, or of a director, as a result of compensation awarded to, earned by, paid to, or payable to the named executive officer or the director, in any capacity with respect to the company.

(7) Currencies

(a) Companies must report amounts required by this form in Canadian dollars or in the same currency that the company uses for its financial statements. A company must use the same currency in all of the tables of this form.

(b) If compensation awarded to, earned by, paid to, or payable to a named executive officer or director

was in a currency other than the currency reported in the prescribed tables of this form, state the currency in which compensation was awarded, earned, paid, or payable, disclose the currency exchange rate and describe the methodology used to translate the compensation into Canadian dollars or the currency that the company uses in its financial statements.

(8) New reporting issuers

(a) A company is not required to provide information for a completed financial year if the company was not a reporting issuer at any time during the most recently completed financial year, unless the company became a reporting issuer as a result of a restructuring transaction.

(b) If the company was not a reporting issuer at any time during the most recently completed financial

year and the company is completing this form because it is preparing a prospectus, discuss all significant elements of the compensation to be awarded to, earned by, paid to, or payable to named executive officers and directors of the company once it becomes a reporting issuer, to the extent this compensation has been determined.

(9) Plain language

Information required to be disclosed under this form must be clear, concise, and presented in such a way that it provides a person, applying reasonable effort, an understanding of (a) how decisions about named executive officer and director compensation are made, and (b) how specific named executive officer and director compensation relates to the overall stewardship

and governance of the company.

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Commentary Refer to the plain language principles listed in section 1.5 of Companion Policy 51-102CP Continuous Disclosure Obligations for further guidance.

ITEM 2 – DIRECTOR AND NAMED EXECUTIVE OFFICER COMPENSATION 2.1 Director and named executive officer compensation, excluding compensation securities (1) Using the following table, disclose all compensation referred to in subsection 1.3(1) of this form for each of the

two most recently completed financial years, other than compensation disclosed under section 2.3. Commentary For venture issuers, compensation includes payments, grants, awards, gifts and benefits including, but not limited to,

• salaries, • consulting fees, • management fees, • retainer fees, • bonuses, • committee and meeting fees, • special assignment fees, • pensions and employer paid RRSP contributions, • perquisites such as

o car, car lease, car allowance or car loan, o personal insurance, o parking, o accommodation, including use of vacation accommodation, o financial assistance, o club memberships, o use of corporate motor vehicle or aircraft, o reimbursement for tax on perquisites or other benefits, and o investment-related advice and expenses.

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Table of compensation excluding compensation securities

Name and position

Year Salary, consulting fee, retainer or commission ($)

Bonus($)

Committeeor meeting fees ($)

Value ofperquisites ($)

Value of all other compensation ($)

Total compensation ($)

(2) In the table required under subsection (1), disclose compensation of each named executive officer first,

followed by compensation of any director who is not a named executive officer. (3) If the individual is a named executive officer and a director, state both positions in the column entitled “Name

and position”. In a footnote to the table, identify how much compensation the NEO received for each position. (4) In the column entitled “Value of perquisites”, include perquisites provided to an NEO or director that are not

generally available to all employees and that, in aggregate, are greater than

(a) $15,000, if the NEO or director’s total salary for the financial year is $150,000 or less, (b) 10% of the NEO or director’s salary for the financial year, if the NEO or director’s total salary for the

financial year is greater than $150,000 but less than $500,000, or (c) $50,000, if the NEO or director’s total salary for the financial year is $500,000 or greater. Value these items on the basis of the aggregate incremental cost to the company and its subsidiaries. Describe in a footnote the methodology used for computing the aggregate incremental cost to the company. Provide a note to the table to disclose the nature of each perquisite provided that equals or exceeds 25% of the total value of perquisites provided to that named executive officer or director, and how the value of the perquisite was calculated, if it is not provided in cash. Commentary For the purposes of the column entitled “Value of perquisites”, an item is generally a perquisite if it is not integrally and directly related to the performance of the director or named executive officer’s duties. If something is necessary for a person to do his or her job, it is integrally and directly related to the job and is not a perquisite, even if it also provides some amount of personal benefit.

(5) If non-cash compensation, other than compensation required to be disclosed in section 2.3, was provided or is

payable, disclose the fair market value of the compensation at the time it was earned or, if it is not possible to calculate the fair market value, disclose that fact in a note to the table and the reasons why.

(6) In the column entitled “Value of all other compensation”, include all of the following:

(a) any incremental payments, payables and benefits to a named executive officer or director that were triggered by, or resulted from, a scenario listed in subsection 2.5(2) that occurred before the end of the applicable financial year,

(b) all compensation relating to defined benefit or defined contribution plans including service costs and

other compensatory items such as plan changes and earnings that are different from the estimated earnings for defined benefit plans and above market earnings for defined contribution plans.

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April 9, 2015

(2015), 38 OSCB 3425

Commentary The disclosure of defined benefit or defined contribution plans relates to all plans that provide for the payment of pension plan benefits. Use the same amounts indicated in column (e) of the defined benefit plan table required by section 2.7 for the applicable financial year and the amounts included in column (c) of the defined contribution plan table required by section 2.7 for the applicable financial year.

(7) Despite subsection (1), it is not necessary to disclose Canada Pension Plan, similar government plans and

group life, health, hospitalization, medical reimbursement and relocation plans that do not discriminate in scope, terms or operation that are generally available to all salaried employees.

(8) If a director or named executive officer has served in that capacity for only part of a year, indicate the number

of months he or she has served; do not annualize the compensation. (9) Provide notes to the table to disclose each of the following for the most recently completed financial year only:

(a) compensation paid or payable by any person or company other than the company in respect of services provided to the company or its subsidiaries, including the identity of that other person or company;

(b) compensation paid or payable indirectly to the director or named executive officer and, in such case,

the amount of compensation, to whom it is paid or payable and the relationship between the director or named executive officer and such other person or company;

(c) for the column entitled “Value of all other compensation”, the nature of each form of other

compensation paid or payable that equals or exceeds 25% of the total value of other compensation paid or payable to that director or named executive officer, and how the value of such other compensation was calculated, if it is not paid or payable in cash.

2.2 External management companies (1) If one or more individuals acting as named executive officers of the company are not employees of the

company, disclose the names of those individuals. (2) If an external management company employs or retains one or more individuals acting as named executive

officers or directors of the company and the company has entered into an understanding, arrangement or agreement with the external management company to provide executive management services to the company, directly or indirectly, disclose any compensation that

(a) the company paid directly to an individual employed, or retained by the external management

company, who is acting as a named executive officer or director of the company; (b) the external management company paid to the individual that is attributable to the services they

provided to the company, directly or indirectly.

(3) If an external management company provides the company’s executive management services and also provides executive management services to another company, disclose the entire compensation the external management company paid to the individual acting as a named executive officer or director, or acting in a similar capacity, in connection with services the external management company provided to the company, or the parent or a subsidiary of the company. If the management company allocates the compensation paid to a named executive officer or director, disclose the basis or methodology used to allocate this compensation. Commentary A named executive officer may be employed by an external management company and provide services to the company under an understanding, arrangement or agreement. In this case, references in this form to the chief executive officer or chief financial officer are references to the individuals who performed similar functions to that of the chief executive officer or chief financial officer. They are typically the same individuals who signed and filed annual and interim certificates to comply with National Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings.

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(2015), 38 OSCB 3426

2.3 Stock options and other compensation securities

(1) Using the following table, disclose all compensation securities granted or issued to each director and named executive officer by the company or one of its subsidiaries in the most recently completed financial year for services provided or to be provided, directly or indirectly, to the company or any of its subsidiaries.

Compensation Securities

Name and position

Type of compensation security

Number ofcompensation securities, number of underlying securities, and percentage of class

Dateof issue or grant

Issue, conversion or exercise price ($)

Closing price of security or underlying security on date of grant ($)

Closingprice of security or underlying security at year end ($)

Expirydate

(2) Position the tables prescribed in subsections (1) and (4) directly after the table prescribed in section 2.1.

(3) Provide notes to the table to disclose each of the following:

(a) the total amount of compensation securities, and underlying securities, held by each named executive officer or director on the last day of the most recently completed financial year end;

(b) any compensation security that has been re-priced, cancelled and replaced, had its term extended, or otherwise been materially modified, in the most recently completed financial year, including the original and modified terms, the effective date, the reason for the modification, and the name of the holder;

(c) any vesting provisions of the compensation securities;

(d) any restrictions or conditions for converting, exercising or exchanging the compensation securities.

(4) Using the following table, disclose each exercise by a director or named executive officer of compensation securities during the most recently completed financial year.

Exercise of Compensation Securities by Directors and NEOs

Name and position

Type of compensation security

Numberof underlying securities exercised

Exerciseprice per security ($)

Date ofexercise

Closingprice per security on date of exercise ($)

Difference between exercise price and closing price on date of exercise ($)

Total value on exercise date ($)

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April 9, 2015

(2015), 38 OSCB 3427

(5) For the tables prescribed in subsections (1) and (4), if the individual is a named executive officer and a director, state both positions in the columns entitled “Name and position”.

Commentary For the purposes of the column entitled “Total value on exercise date” multiply the number in the column entitled “Number of underlying securities exercised” by the number in the column entitled “Difference between exercise price and closing price on date of exercise”.

2.4 Stock option plans and other incentive plans (1) Describe the material terms of each stock option plan, stock option agreement made outside of a stock option

plan, plan providing for the grant of stock appreciation rights, deferred share units or restricted stock units and any other incentive plan or portion of a plan under which awards are granted.

Commentary Examples of material terms are vesting provisions, maximum term of options granted, whether or not a stock option plan is a rolling plan, the maximum number or percentage of options that can be granted, method of settlement.

(2) Indicate for each such plan or agreement whether it has previously been approved by shareholders and, if applicable, when it is next required to be approved.

(3) Disclosure is not required of plans, such as shareholder rights plans, that involve issuance of securities to all

securityholders. 2.5 Employment, consulting and management agreements (1) Disclose the material terms of each agreement or arrangement under which compensation was provided

during the most recently completed financial year or is payable in respect of services provided to the company or any of its subsidiaries that were

(a) performed by a director or named executive officer, or (b) performed by any other party but are services typically provided by a director or a named executive

officer.

(2) For each agreement or arrangement referred to in subsection (1), disclose each of the following:

(a) the provisions, if any, with respect to change of control, severance, termination or constructive dismissal;

(b) the estimated incremental payments that are triggered by, or result from, change of control,

severance, termination or constructive dismissal; (c) any relationship between the other party to the agreement and a director or named executive officer

of the company or any of its subsidiaries.

2.6 Oversight and description of director and named executive officer compensation (1) Disclose who determines director compensation and how and when it is determined. (2) Disclose who determines named executive officer compensation and how and when it is determined. (3) For each named executive officer, disclose each of the following:

(a) a description of all significant elements of compensation awarded to, earned by, paid or payable to the named executive officer for the most recently completed financial year, including at a minimum each element of compensation that accounts for 10% or more of the named executive officer’s total compensation;

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April 9, 2015

(2015), 38 OSCB 3428

(b) whether total compensation or any significant element of total compensation is tied to one or more performance criteria or goals, including for example, milestones, agreements or transactions and, if so,

(i) describe the performance criteria and goals, and (ii) indicate the weight or approximate weight assigned to each performance criterion or goal;

(c) any significant events that have occurred during the most recently completed financial year that have significantly affected compensation including whether any performance criterion or goal was waived or changed and, if so, why;

(d) how the company determines the amount to be paid for each significant element of compensation

referred to in paragraph (a), including whether the process is based on objective, identifiable measures or a subjective decision;

(e) whether a peer group is used to determine compensation and, if so, describe the peer group and why

it is considered appropriate; (f) any significant changes to the company’s compensation policies that were made during or after the

most recently completed financial year that could or will have an effect on director or named executive officer compensation.

(4) Despite subsection (3), if a reasonable person would consider that disclosure of a previously undisclosed

specific performance criterion or goal would seriously prejudice the company’s interests, the company is not required to disclose the criterion or goal provided that the company does each of the following:

(a) discloses the percentage of the named executive officer’s total compensation that relates to the

undisclosed criterion or goal; (b) discloses the anticipated difficulty in achieving the performance criterion or goal; (c) states that it is relying on this exemption from the disclosure requirement; (d) explains why disclosing the performance criterion or goal would seriously prejudice its interests.

(5) For the purposes of subsection (4), a company’s interests are considered not to be seriously prejudiced solely by disclosing a performance goal or criterion if that criterion or goal is based on broad corporate-level financial performance metrics such as earnings per share, revenue growth, or earnings before interest, taxes, depreciation and amortization (EBITDA).

2.7 Pension disclosure If the company provides a pension to a director or named executive officer, provide for each such individual the additional disclosure required by Item 5 of Form 51-102F6. 2.8 Companies reporting in the United States (1) Except as provided in subsection (2), SEC issuers may satisfy the requirements of this form by providing the

information that they disclose in the United States pursuant to item 402 “Executive compensation” of Regulation S-K under the 1934 Act.

(2) Subsection (1) does not apply to a company that, as a foreign private issuer, satisfies Item 402 of Regulation

S-K by providing the information required by Items 6.B “Compensation” and 6.E.2 “Share Ownership” of Form 20-F under the 1934 Act..

19. This Instrument comes into force on June 30, 2015.

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April 9, 2015

(2015), 38 OSCB 3429

ANNEX D2

AMENDMENTS TO NATIONAL INSTRUMENT 41-101 GENERAL PROSPECTUS REQUIREMENTS

1. National Instrument 41-101 General Prospectus Requirements is amended by this Instrument. 2. Section 1.1 is amended by adding the following definition:

“Form 51-102F6V” means Form 51-102F6V Statement of Executive Compensation – Venture Issuers of NI 51-102;. 3. Subsection 1.9(4) of Form 41-101F1 is amended by adding “(“ after “the United States of America” and by adding

“)” after “PLUS Markets Group plc.”. 4. Subsections 5.1(2) and (3) of Form 41-101F1 are amended by adding “, if the issuer is a venture issuer or an IPO

venture issuer, the two most recently completed financial years, or” after “within the three most recently completed financial years or”.

5. The heading of section 5.2 of Form 41-101F1 is amended by replacing “Three-year history” with “History”. 6. Subsection 5.2(1) of Form 41-101F1 is amended by adding “or, if the issuer is a venture issuer or an IPO venture

issuer, the last two completed financial years,” after “over the last three completed financial years”. 7. Section 8.2 of Form 41-101F1 is amended by adding the following guidance after subsection (3):

GUIDANCE Under section 2.2.1 of Form 51-102F1, for financial years beginning on or after July 1, 2015, venture issuers, or IPO venture issuers, have the option of meeting the requirement to provide interim MD&A under section 2.2 of Form 51-102F1 by providing quarterly highlights disclosure..

8. Paragraph 8.6(3)(b) of Form 41-101F1 is amended by adding “if the issuer is not providing disclosure in accordance with section 2.2.1 of Form 51-102F1,” before “the most recent year-to-date”.

9. Paragraph 8.8(2)(b) of Form 41-101F1 is amended by adding “if the issuer is not providing disclosure in accordance

with section 2.2.1 of Form 51-102F1,” before “the most recent year-to-date”. 10. Section 17.1 of Form 41-101F1 is amended by adding “or, if the issuer is a venture issuer or an IPO venture issuer,

in accordance with Form 51-102F6 or Form 51-102F6V” after “in accordance with Form 51-102F6”. 11. Section 20.11 of Form 41-101F1 is amended by adding “)” after “the United States of America” and adding “)”

after “PLUS Markets Group plc.”. 12. Subsection 32.4(1) of Form 41-101F1 is amended by replacing paragraph (a) with the following:

(a) the statement of comprehensive income, the statement of changes in equity, and the statement of cash flows for the third most recently completed financial year, if the issuer is

(i) an IPO venture issuer, or (ii) a reporting issuer in at least one jurisdiction immediately before filing the prospectus,.


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April 9, 2015

(2015), 38 OSCB 3430

ANNEX D3

AMENDMENTS TO NATIONAL INSTRUMENT 52-110 AUDIT COMMITTEES

1. National Instrument 52-110 Audit Committees is amended by this Instrument. 2. Part 6 is amended by adding the following section:

6.1.1. Composition of Audit Committee (1) An audit committee of a venture issuer must be composed of a minimum of three members. (2) Every member of an audit committee of a venture issuer must be a director of the issuer. (3) Subject to subsections (4), (5) and (6), a majority of the members of an audit committee of a venture issuer

must not be executive officers, employees or control persons of the venture issuer or of an affiliate of the venture issuer.

(4) If a circumstance arises that affects the business or operations of the venture issuer, and a reasonable person

would conclude that the circumstance can be best addressed by a member of the audit committee becoming an executive officer or employee of the venture issuer, subsection (3) does not apply to the audit committee in respect of the member until the later of: (a) the next annual meeting of the venture issuer; (b) the date that is six months after the date on which the circumstance arose.

(5) If an audit committee member becomes a control person of the venture issuer or of an affiliate of the venture issuer for reasons outside the member’s reasonable control, subsection (3) does not apply to the audit committee in respect of that member until the later of: (a) the next annual meeting of the venture issuer; (b) the date that is six months after the event which caused the member to become a control person.

(6) If a vacancy on the audit committee arises as a result of the death, incapacity or resignation of an audit committee member and the board of directors is required to fill the vacancy, subsection (3) does not apply to the audit committee, in respect of the member appointed to fill the vacancy, until the later of: (a) the next annual meeting of the venture issuer; (b) the date that is six months from the day the vacancy was created.

(7) This section applies to a venture issuer in respect of a financial year beginning on or after January 1, 2016.. 3. Section 5 of Form 52-110F2 is replaced with the following:

5. If, at any time since the commencement of the issuer’s most recently completed financial year, the issuer has

relied on (a) the exemption in section 2.4 (De Minimis Non-audit Services), (b) the exemption in subsection 6.1.1(4) (Circumstances Affecting the Business or Operations of the

Venture Issuer), (c) the exemption in subsection 6.1.1(5) (Events Outside Control of Member), (d) the exemption in subsection 6.1.1(6) (Death, Incapacity or Resignation), or (e) an exemption from this Instrument, in whole or in part, granted under Part 8 (Exemption), state that fact..


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April 9, 2015

(2015), 38 OSCB 3431

ANNEX E1

CHANGES TO COMPANION POLICY TO NATIONAL INSTRUMENT 51-102 CONTINUOUS DISCLOSURE OBLIGATIONS

1. The changes to the Companion Policy to National Instrument 51-102 Continuous Disclosure Obligations are

set out in this schedule. 2. The Table of Contents is changed by adding the following: “5.6 Venture Issuer Quarterly Highlights”. 3. Section 5.4 is changed by

(a) adding “, if the issuer is an issuer that is not providing disclosure in accordance with section 2.2.1 of Form 51-102F1, their” after “in their annual or”,

(b) deleting “the equity investee would meet the thresholds for the significance tests in Part 8” and replacing it

with “,”, and (c) deleting “.” after “as at the issuer’s financial year-end” and replacing it with “, either of the following apply:

(a) for a reporting issuer that is not a venture issuer, the equity investee would meet the thresholds for

the significance tests in Part 8; (b) for a venture issuer, the equity investee would meet the thresholds for the significance tests in Part 8

if “100 percent” is read as “40 percent”..

4. Part 5 is changed by adding the following section:

5.6 Venture Issuers – Quarterly Highlights (1) A venture issuer that provides quarterly highlights is not required to update its annual MD&A in the quarterly

highlights. However, to meet the requirements of section 2.2.1 of Form 51-102F1, the venture issuer should disclose in its quarterly highlights any change, if material, from plans disclosed in the annual MD&A. For example, if a mining issuer discloses a drill program in its annual MD&A and decides to make a change to that drill program in a subsequent interim period, that change, if material, should be disclosed in the quarterly highlights for that period.

(2) Although all venture issuers have the option of providing quarterly highlights, there are some instances where

a venture issuer may want to consider providing full interim MD&A instead of quarterly highlights. We believe the option to use quarterly highlights will likely satisfy the needs of investors in smaller venture issuers. However, investors in larger venture issuers, including those with significant revenue, may want full interim MD&A to assist them in making informed investment decisions. Issuers will likely take the needs of their investors into consideration when determining whether to provide quarterly highlights or full interim MD&A.

(3) For greater certainty, a reference to interim MD&A is a reference to the quarterly highlights a venture issuer

has the option of providing in accordance with section 2.2.1 of Form 51-102F1. As such, any requirements in National Instrument 52-109 Certification of Disclosure in Issuer’s Annual and Interim Filings that apply to interim MD&A will apply to the quarterly highlights..

5. These changes become effective on June 30, 2015.

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April 9, 2015

(2015), 38 OSCB 3432

ANNEX E2

CHANGES TO COMPANION POLICY TO NATIONAL INSTRUMENT 41-101 GENERAL PROSPECTUS REQUIREMENTS

1. The changes to the Companion Policy to National Instrument 41-101 General Prospectus Requirements are set

out in this schedule. 2. Subsection 4.4(3) is changed by

(a) replacing “the equity investee would meet the thresholds for the significance tests in Item 35 of Form 41-

101F1” with “,”, (b) replacing the “.”with “,”, and (c) adding the following after “financial year-end,”:

either of the following apply: (a) for an issuer that is not a venture issuer or an IPO venture issuer, the equity investee would meet the

thresholds for the significance tests in Item 35 of Form 41-101F1; (b) for a venture issuer or an IPO venture issuer, the equity investee would meet the thresholds for the

significance tests in Item 35 of Form 41-101F1 if “100 percent” is read as “40 percent”..

3. These changes become effective on June 30, 2015.

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April 9, 2015

(2015), 38 OSCB 3433

ANNEX F

ADDITIONAL INFORMATION REQUIRED IN ONTARIO On March 24, 2015, the Ontario Securities Commission:

• made the amendments to NI 51-102, NI 41-101 and NI 52-110 (the Rule Amendments) pursuant to section 143 of the Securities Act (Ontario) (the Act), and

• adopted the changes to 51-102CP and 41-101CP (the Policy Changes) pursuant to section 143.8 of the Act.

The Rule Amendments and other required materials were delivered to the Minister of Finance on April 8, 2015. The Minister may approve or reject the Rule Amendments or return them for further consideration. If the Minister approves the Rule Amendments or does not take any further action by June 7, 2015, the Rule Amendments and the Policy Changes will come into force on June 30, 2015.

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April 9, 2015

(2015), 38 OSCB 3434


April 9, 2015

(2015), 38 OSCB 3435

Chapter 7

Insider Reporting

The following is a weekly summary of insider transactions by insiders of Ontario reporting issuers in SEDI ® (the System for Electronic Disclosure by Insiders).1 The weekly summary contains insider transactions reported during the 7-day period ending Sunday at 11:59 p.m. (i.e. the Sunday prior to the Bulletin Issue date).2

Guide to Codes

Relationship of Insider to Issuer (Rel=n) 1 Issuer 2 Subsidiary of Issuer 3 10% Security Holder of Issuer 4 Director of Issuer 5 Senior Officer of Issuer 6 Director or Senior Officer of 10% Security Holder 7 Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) 8 Deemed Insider – 6 Months before becoming Insider

Nature of Transaction (T/O)

00 Opening Balance-Initial SEDI Report 10 Acquisition or disposition in the public market 11 Acquisition or disposition carried out privately 15 Acquisition or disposition under a prospectus 16 Acquisition or disposition under a prospectus exemption 22 Acquisition or disposition pursuant to a take-over bid, merger or acquisition 30 Acquisition or disposition under a purchase/ ownership plan 35 Stock dividend 36 Conversion or exchange 37 Stock split or consolidation 38 Redemption, retraction, cancellation, repurchase 40 Short sale 45 Compensation for property 46 Compensation for services 47 Acquisition or disposition by gift 48 Acquisition by inheritance or disposition by bequest 50 Grant of options 51 Exercise of options 52 Expiration of options 53 Grant of warrants 54 Exercise of warrants 55 Expiration of warrants 56 Grant of rights 57 Exercise of rights 59 Exercise for cash 70 Acquisition or disposition (writing) of third party derivative 71 Exercise of third party derivative 72 Other settlement of third party 73 Expiration of third party derivative 90 Change in nature of ownership 97 Other 99 Correction of Information

Note: The asterisk in the “Date/Month End Holding” column indicates the insider disagreed with the system calculated balance when the

transaction was reported.

1 SEDI® is a registered trademark owned by CDS INC.

2 ©CDS INC.

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3436

Issuer Name Security Insider Name Rel'n Transaction Date T/O Unit Price

Date/Month End Holdings

Acquired/ Disposed

Absolute Software Corporation

Options DAY, RICHARD LEIGH 4 23/02/2015 51 3.89 71,500 -1,250







ACTIVEnergy Income Fund Trust Units ACTIVEnergy Income Fund 1 30/03/2015 38 6.09 29,678,468 100

ACTIVEnergy Income Fund Trust Units ACTIVEnergy Income Fund 1 31/03/2015 38 6.0917 29,681,368 2,900

AcuityAds Holdings Inc. Options Andrews, David 5 02/02/2015 00

AcuityAds Holdings Inc. Options Andrews, David 5 23/03/2015 50 0.98 600,000 600,000

Advantage Oil & Gas Ltd. Rights Deferred Share Units

Fagerheim, Grant Bradley 4 31/03/2015 56 7,234 611

Aecon Group Inc. Deferred Share Units Beck, John Michael 4, 5 10/09/2004 00 240,404

Aecon Group Inc. Deferred Share Units Beck, John Michael 4, 5 31/12/2014 30 15.84 245,960 5,556

Aecon Group Inc. Restricted Share Units Beck, John Michael 4, 5 10/09/2004 00

Aecon Group Inc. Restricted Share Units Beck, John Michael 4, 5 10/09/2004 00 151,677

Aecon Group Inc. Restricted Share Units Beck, John Michael 4, 5 31/12/2014 30 15.92 156,230 4,553

Aecon Group Inc. Restricted Share Units Beck, John Michael 4, 5 05/03/2015 56 11.66 258,700 102,470

Aecon Group Inc. Deferred Share Units Beutel, Austin Cecil 4 16/03/2005 00

Aecon Group Inc. Deferred Share Units Beutel, Austin Cecil 4 23/06/2014 46 5,949 5,949

Aecon Group Inc. Deferred Share Units Beutel, Austin Cecil 4 05/03/2015 46 14,525 8,576

Aecon Group Inc. Deferred Share Units Butt, Michael 4 01/05/1998 00

Aecon Group Inc. Deferred Share Units Butt, Michael 4 14/03/2014 56 16.81 6,050 6,050

Aecon Group Inc. Deferred Share Units Butt, Michael 4 31/12/2014 30 15.86 6,151 101

Aecon Group Inc. Deferred Share Units Butt, Michael 4 05/03/2015 56 11.66 14,727 8,576

Aecon Group Inc. Deferred Share Units Carrabba, Joseph Anthony 4 15/07/2013 00

Aecon Group Inc. Deferred Share Units Carrabba, Joseph Anthony 4 14/03/2014 56 16.81 6,010 6,010


Aecon Group Inc. Deferred Share Units Carrabba, Joseph Anthony 4 31/12/2014 30 15.81 7,247 107



Aecon Group Inc. Deferred Share Units Franceschini, Anthony P. 4 04/03/2009 00

Aecon Group Inc. Deferred Share Units Franceschini, Anthony P. 4 14/03/2014 56 16.81 6,050 6,050

Aecon Group Inc. Deferred Share Units Franceschini, Anthony P. 4 31/12/2014 30 15.86 6,151 101

Aecon Group Inc. Deferred Share Units Franceschini, Anthony P. 4 05/03/2015 56 11.66 14,727 8,576

Aecon Group Inc. Deferred Share Units Hole, James Douglas 4 01/04/2009 00

Aecon Group Inc. Deferred Share Units Hole, James Douglas 4 14/03/2014 56 16.18 6,050 6,050


Aecon Group Inc. Deferred Share Units Hole, James Douglas 4 31/12/2014 30 15.81 7,287 107



Aecon Group Inc. Deferred Share Units MacCallum, Alistair 5 10/03/2014 00

Aecon Group Inc. Deferred Share Units MacCallum, Alistair 5 05/03/2015 56 11.66 10,817 10,817

Aecon Group Inc. Restricted Share Units MacCallum, Alistair 5 10/03/2014 00

Aecon Group Inc. Restricted Share Units MacCallum, Alistair 5 11/03/2014 56 16.92 4,433 4,433

Aecon Group Inc. Restricted Share Units MacCallum, Alistair 5 31/12/2014 30 15.86 4,508 75

Aecon Group Inc. Common Shares McKibbon, Terrance Lloyd 5 31/12/2014 30 10.71 126,263 4,028

Aecon Group Inc. Common Shares McKibbon, Terrance Lloyd 5 31/03/2015 10 11.22 5,375


Aecon Group Inc. Common Shares McKibbon, Terrance Lloyd 5 31/03/2015 10 11.22 3,500


Aecon Group Inc. Deferred Share Units McKibbon, Terrance Lloyd 5 04/12/2005 00 173,323

Aecon Group Inc. Deferred Share Units McKibbon, Terrance Lloyd 5 31/12/2014 30 15.98 176,594 3,271

Aecon Group Inc. Deferred Share Units McKibbon, Terrance Lloyd 5 05/03/2015 56 11.66 192,934 16,340

Aecon Group Inc. Restricted Share Units McKibbon, Terrance Lloyd 5 31/12/2014 30 151,897 151,897

Aecon Group Inc. Restricted Share Units McKibbon, Terrance Lloyd 5 31/12/2014 30 15.93 156,230 4,333

Aecon Group Inc. Restricted Share Units McKibbon, Terrance Lloyd 5 05/03/2015 56 11.66 242,360 86,130

Aecon Group Inc. Deferred Share Units Palma, Paula 5 11/08/2014 00 17,293

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April 9, 2015

(2015), 38 OSCB 3437



Acquired/ Disposed

Aecon Group Inc. Deferred Share Units Palma, Paula 5 31/12/2014 30 15.86 17,601 308

Aecon Group Inc. Deferred Share Units Palma, Paula 5 05/03/2015 56 11.66 55,355 37,754

Aecon Group Inc. Deferred Share Units Sloan, Monica 4 11/06/2013 00

Aecon Group Inc. Deferred Share Units Sloan, Monica 4 14/03/2014 56 16.81 6,050 6,050

Aecon Group Inc. Deferred Share Units Sloan, Monica 4 31/12/2014 30 15.86 6,151 101

Aecon Group Inc. Deferred Share Units Sloan, Monica 4 05/03/2015 56 11.66 14,727 8,576

Aecon Group Inc. Deferred Share Units Smales, David Andrew 5 16/11/2009 00 108,130

Aecon Group Inc. Deferred Share Units Smales, David Andrew 5 31/12/2014 30 15.84 110,539 2,409

Aecon Group Inc. Deferred Share Units Smales, David Andrew 5 05/03/2015 56 11.66 123,478 12,939

Aecon Group Inc. Restricted Share Units Smales, David Andrew 5 16/11/2009 00 41,935

Aecon Group Inc. Restricted Share Units Smales, David Andrew 5 31/12/2014 30 15.89 43,048 1,113

Aecon Group Inc. Restricted Share Units Smales, David Andrew 5 05/03/2015 56 11.66 84,503 41,455

Aecon Group Inc. Deferred Share Units Swartz, Lindsay Brian 5 31/12/2014 30 93,667 75,785

Aecon Group Inc. Deferred Share Units Swartz, Lindsay Brian 5 31/12/2014 30 15.84 95,355 1,688

Aecon Group Inc. Deferred Share Units Swartz, Lindsay Brian 5 05/03/2015 56 11.66 107,918 12,563

Aecon Group Inc. Restricted Share Units Swartz, Lindsay Brian 5 31/12/2014 30 24,382 24,382

Aecon Group Inc. Restricted Share Units Swartz, Lindsay Brian 5 31/12/2014 30 15.93 25,072 690

Aecon Group Inc. Restricted Share Units Swartz, Lindsay Brian 5 05/03/2015 56 11.66 41,413 16,341

Aecon Group Inc. Deferred Share Units Tobin, Brian Vincent 4 17/03/2005 00

Aecon Group Inc. Deferred Share Units Tobin, Brian Vincent 4 14/03/2014 56 16.81 6,050 6,050


Aecon Group Inc. Deferred Share Units Tobin, Brian Vincent 4 31/12/2014 30 15.81 7,287 107



Aequus Pharmaceuticals Inc. Common Shares JANZEN, DOUG 4, 5 31/03/2015 10 0.67 3,500,000 10,000

Aequus Pharmaceuticals Inc. Warrants JANZEN, DOUG 4, 5 25/02/2015 36 99,000

Aequus Pharmaceuticals Inc. Warrants JANZEN, DOUG 4, 5 25/02/2015 36 90,000 90,000

Aequus Pharmaceuticals Inc. Common Shares Shahbazi, Hamed 4 16/03/2015 00 18,181

Aequus Pharmaceuticals Inc. Warrants Shahbazi, Hamed 4 16/03/2015 00 9,090

Aequus Pharmaceuticals Inc. Common Shares Stevens, Anne 4, 5 18/02/2014 00

Aequus Pharmaceuticals Inc. Common Shares Stevens, Anne 4, 5 18/02/2015 00

Aequus Pharmaceuticals Inc. Options Stevens, Anne 4, 5 18/02/2014 00

Aequus Pharmaceuticals Inc. Options Stevens, Anne 4, 5 18/02/2015 00 1,284,337

Africa Energy Corp. (formerly Horn Petroleum Corporation)

Common Shares Africa Oil Corp. 3 27/03/2015 16 0.13 52,796,967 9,593,077

Africa Energy Corp. (formerly Horn Petroleum Corporation)

Common Shares Heppenstall, C. Ashley 4 30/03/2015 16 0.13 4,796,538 4,796,538

Africa Oil Corp. Common Shares Kufflick, Jeromie J. 7 25/03/2015 51 1.49 270,749 167,000

Africa Oil Corp. Common Shares Kufflick, Jeromie J. 7 25/03/2015 10 1.99 136,749 -134,000

Africa Oil Corp. Options Kufflick, Jeromie J. 7 25/03/2015 51 1.49 519,000 -167,000

Ag Growth International Inc. Rights Deferred Compensation Plan

Giesselman, Janet 4 01/04/2015 56 1,405 172


Lambert, William Allen 4 01/04/2015 56 17,424 125


Moore, Malcolm 4 01/04/2015 56 1,048 115


White, David 4 01/04/2015 56 5,569 128

Agellan Commercial Real Estate Investment Trust

Deferred Units Dansereau, Richard 4 31/03/2015 56 2,513 991


Deferred Units Messina, Anthony 4 06/03/2015 00


Deferred Units Messina, Anthony 4 31/03/2015 56 443 443


Deferred Units Yamotahari, Sara 4 31/03/2015 56 2,643 1,023

Agrium Inc. Rights Deferred Share Units

Everitt, David Charles 4 31/03/2015 56 137.01 3,321 146


Girling, Russell 4 31/03/2015 56 137.01 28,013 262


Harris, M. Marianne 4 31/03/2015 56 137.01 1,523 275

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3438



Acquired/ Disposed


Henry, Susan A. 4 31/03/2015 56 137.01 61,845 72


McLellan, A. Anne 4 31/03/2015 56 137.01 18,332 72


Schmidt, Mayo 4 31/03/2015 56 137.01 4,299 275


Zaleschuk, Victor Jack 4 31/03/2015 56 137.01 121


Zaleschuk, Victor Jack 4 31/03/2015 56 137.01 37,596 145

Aimia Inc. Common Shares Aimia Inc. 1 02/03/2015 38 13.348 97,526 97,526

Aimia Inc. Common Shares Aimia Inc. 1 02/03/2015 38 0 -97,526











































Aimia Inc. Deferred Share Units Brown, Robert Ellis 4 31/03/2015 35 12.86 53,953 745

Aimia Inc. Deferred Share Units Brown, Robert Ellis 4 01/04/2015 56 12.85 56,342 2,389

Aimia Inc. Deferred Share Units Doroniuk, Roman 4 31/03/2015 35 12.86 21,434 296

Aimia Inc. Deferred Share Units Doroniuk, Roman 4 01/04/2015 56 12.85 21,959 525

Aimia Inc. Deferred Share Units Ferstman, Joanne Shari 4 31/03/2015 35 12.86 47,097 650

Aimia Inc. Deferred Share Units Ferstman, Joanne Shari 4 01/04/2015 56 12.85 50,054 2,957

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3439



Acquired/ Disposed

Aimia Inc. Deferred Share Units Fortier, Michael M 4 31/03/2015 35 12.86 15,725 217

Aimia Inc. Deferred Share Units Fortier, Michael M 4 01/04/2015 56 12.85 18,429 2,704

Aimia Inc. Deferred Share Units Horowitz, Beth Sharon 4 31/03/2015 35 12.86 5,633 78

Aimia Inc. Deferred Share Units Horowitz, Beth Sharon 4 01/04/2015 56 12.85 6,158 525

Aimia Inc. Deferred Share Units Laidley, David Howard 4 31/03/2015 35 12.86 53,928 744

Aimia Inc. Deferred Share Units Laidley, David Howard 4 01/04/2015 56 12.85 54,842 914

Aimia Inc. Deferred Share Units Port, Douglas D. 4 31/03/2015 35 12.86 20,218 279

Aimia Inc. Deferred Share Units Port, Douglas D. 4 01/04/2015 56 12.85 21,132 914

Aimia Inc. Deferred Share Units Rossy, Alan 4 31/03/2015 35 12.86 12,020 166

Aimia Inc. Deferred Share Units Rossy, Alan 4 01/04/2015 56 12.85 12,545 525

Ainsworth Lumber Co. Ltd. Common Shares Norbord Inc. 3 31/03/2015 00

Ainsworth Lumber Co. Ltd. Common Shares Norbord Inc. 3 31/03/2015 22 240,956,309 240,956,309

AIRBOSS OF AMERICA CORP.

Options Ford, Wendy 5 04/07/2011 00


Options Ford, Wendy 5 31/03/2015 50 15.4 20,000 20,000


Common Shares Hagerman, Robert 4 31/03/2015 10 613,920 -3,500


Options Swartzman, Lisa 5 13/05/2014 00


Options Swartzman, Lisa 5 31/03/2015 50 15.4 50,000 50,000

Akita Drilling Ltd. Options Coleman, Raymond 5 01/04/2015 50 10.28 77,500 15,000

Akita Drilling Ltd. Options Dease, Colin 5 01/04/2015 50 10.28 25,000 7,500

Akita Drilling Ltd. Options Hensel, Fred 5 01/04/2015 50 10.28 47,500 7,500

Akita Drilling Ltd. Options Kushner, Craig 5 01/04/2015 50 10.28 32,500 5,000

Akita Drilling Ltd. Options Roth, Murray 5 01/04/2015 50 10.28 95,000 15,000

Akita Drilling Ltd. Options Ruud, Karl 4 01/04/2015 50 10.28 260,000 50,000

Akita Drilling Ltd. Options Thompson, Lorne 5 01/04/2015 50 10.28 15,000 5,000

Alacer Gold Corp. PSU Antal, Rod 5 21/05/2012 00

Alacer Gold Corp. PSU Antal, Rod 5 20/08/2014 56 442,167 442,167

Alacer Gold Corp. PSU Antal, Rod 5 01/01/2015 56 964,767 522,600

Alacer Gold Corp. DSU Bates, Thomas Robert 4 17/04/2014 00

Alacer Gold Corp. DSU Bates, Thomas Robert 4 21/04/2014 56 12,370 12,370

Alacer Gold Corp. PSU Benbow, Robert D. 5 20/08/2014 56 82,423 82,423

Alacer Gold Corp. PSU Benbow, Robert D. 5 05/12/2014 00

Alacer Gold Corp. PSU Benbow, Robert D. 5 01/01/2015 56 179,840 97,417

Alacer Gold Corp. DSU Dowling, Edward Camp 4, 5 20/02/2008 00

Alacer Gold Corp. DSU Dowling, Edward Camp 4, 5 21/04/2014 56 26,391 26,391

Alacer Gold Corp. DSU Graff, Richard P 4 21/04/2014 56 43,768 26,310

Alacer Gold Corp. Common Shares Iorich, Vladimir 3 01/04/2015 10 2.9 3,518,669 -27,500

Alacer Gold Corp. Common Shares Iorich, Vladimir 3 01/04/2015 10 2.9 28,840,678 -222,500

Alacer Gold Corp. PSU Kim, Roy 5 20/08/2014 56 54,949 54,949

Alacer Gold Corp. PSU Kim, Roy 5 05/12/2014 00

Alacer Gold Corp. DSU Kolonchina, Anna 4 15/09/2014 00

Alacer Gold Corp. DSU Kolonchina, Anna 4 15/09/2014 56 6,350 6,350

Alacer Gold Corp. DSU Krusi, Alan Peter 4 15/09/2014 00

Alacer Gold Corp. DSU Krusi, Alan Peter 4 15/09/2014 56 6,350 6,350

Alacer Gold Corp. PSU LeRoux, John Mathew 7 23/02/2014 00

Alacer Gold Corp. PSU LeRoux, John Mathew 7 20/08/2014 56 74,992 74,992

Alacer Gold Corp. PSU Murchison, Mark Edward 5 13/08/2013 00

Alacer Gold Corp. PSU Murchison, Mark Edward 5 20/08/2014 56 120,201 120,201

Alacer Gold Corp. PSU Murchison, Mark Edward 5 01/01/2015 56 262,267 142,066

Alacer Gold Corp. PSU Sparks, Michael John 5 20/08/2014 56 52,659 52,659

Alacer Gold Corp. PSU Sparks, Michael John 5 05/12/2014 00

Alacer Gold Corp. PSU Sparks, Michael John 5 01/01/2015 56 114,897 62,238

AlarmForce Industries Inc. Common Shares Investmentaktiengesellschaft für langfristige Investoren TGV

3 31/03/2015 10 10.3 2,440,804 1,200

AlarmForce Industries Inc. Options Peddie, Richard A. 4 17/04/2014 00 30,000

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3440



Acquired/ Disposed

AlarmForce Industries Inc. Options Pizzonia, Anthony 4 18/03/2015 50 10.16 13,683 13,683

AlarmForce Industries Inc. Options Pizzonia, Anthony 4 23/03/2015 50 10.16 13,683

Alberta Oilsands Inc. Common Shares Mitchell, Bruce 3 30/03/2015 10 0.1 30,300,200 35,000




Alderon Iron Ore Corp. Rights DSUs Ashby, Ian R. 4 31/03/2015 56 0.3317 91,763 50,497

Alderon Iron Ore Corp. Rights DSUs Baker, John 4, 6 31/03/2015 56 0.406 50,497

Alderon Iron Ore Corp. Rights DSUs Baker, John 4, 6 31/03/2015 56 0.332 91,763 50,497

Alderon Iron Ore Corp. Rights DSUs Boggio, Lenard 4 31/03/2015 56 0.3317 112,720 64,063

Alderon Iron Ore Corp. Rights DSUs Dalton, Brian 4, 6 31/03/2015 56 0.332 72,864 41,453

Alderon Iron Ore Corp. Rights DSUs Liu, Jian 4 31/03/2015 56 0.3317 75,328 41,453

Alderon Iron Ore Corp. Rights DSUs LOADER, WILLIAM ADRIAN

4 31/03/2015 56 0.3317 91,763 50,497

Alderon Iron Ore Corp. Rights DSUs Porter, David James 4 31/03/2015 56 0.3317 116,415 64,063

Alderon Iron Ore Corp. Rights DSUs Wang, Jinhui 4 31/03/2015 56 0.3317 75,328 41,453

Algold Resources Ltd. Common Shares vergnol, thierry 7 18/03/2004 10 0.165 35,500

Algold Resources Ltd. Common Shares vergnol, thierry 7 18/03/2015 10 0.165 443,833 35,500

Algold Resources Ltd. Common Shares vergnol, thierry 7 30/03/2015 10 0.15 517,833 24,000

Algonquin Power & Utilities Corp.

Rights Deferred Share Units

Ball, Christopher James 4 31/03/2015 56 9.36 24,089 1,401


Common Shares Jarratt, Christopher Kenneth 5 31/12/2014 30 324,974 1,900



Moore, Kenneth 4 31/03/2015 56 9.36 65,068 5,166


Common Shares Pasieka, David James 5 31/12/2014 30 1,505


Common Shares Pasieka, David James 5 31/12/2014 30 8,216 2,633


Common Shares Pasieka, David James 5 31/12/2014 30 8,603 603



Saidi, Masheed Hegi 4 31/03/2015 56 9.36 997 997



Samil, Dilek 4 31/03/2015 56 9.36 997 997



Steeves, George Lester 4 31/03/2015 56 9.36 29,480 1,834

Alimentation Couche-Tard Inc.

Subordinate Voting Shares Catégorie B

Plourde, Réal 4, 6, 7, 5 26/03/2015 97 49.924 -34,813

Alimentation Couche-Tard Inc.

Subordinate Voting Shares Catégorie B

Plourde, Réal 4, 6, 7, 5 26/03/2015 97 49.924 4,530,800 -34,813

Allana Potash Corp. (formerly Allana Resources Inc.)

Common Shares Abasov, Farhad 4, 5 02/04/2015 51 0.25 2,607,500 400,000






Options Abasov, Farhad 4, 5 02/04/2015 51 4,000,000 -400,000






Common Shares Battiston, Deborah 5 02/04/2015 51 0.315 223,540 40,000


Options Battiston, Deborah 5 02/04/2015 51 0.315 760,000 -40,000

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3441



Acquired/ Disposed


Common Shares Davies, Brianna Kirsten 5 31/03/2015 51 0.25 229,159 20,000






Options Davies, Brianna Kirsten 5 31/03/2015 51 860,000 -20,000






Common Shares MacLean, Peter 5 23/02/2009 00


Common Shares MacLean, Peter 5 02/04/2015 51 0.25 200,000 200,000






Options MacLean, Peter 5 02/04/2015 51 1,750,000 -200,000






Common Shares Stauffer, Mark D. 4 02/04/2015 51 0.36 230,966 150,000


Options Stauffer, Mark D. 4 02/04/2015 51 720,000 -150,000

Alloycorp Mining Inc. (formerly Avanti Mining Inc.)

Options Bogden, Gordon Jack 4 02/04/2015 50 0.06 6,500,000 3,000,000


Options du Preez, Graham 5 12/03/2014 00


Options du Preez, Graham 5 30/04/2014 50 0.07 2,000,000 2,000,000


Options du Preez, Graham 5 02/04/2015 50 0.06 4,000,000 2,000,000

AltaGas Ltd. Common Shares Edgeworth, Allan Leslie 4 31/12/2014 30 43.623 11,851 440

AltaGas Ltd. Options at $40.61 Expiring March 16, 2021

Watson, Timothy, William 5 16/03/2015 50 40.97 100,000


Watson, Timothy, William 5 16/03/2015 50 40.61 100,000 100,000


Watson, Timothy, William 5 16/03/2015 50 40.97 100,000

Altair Gold Inc. Common Shares Dhanani, Zahir 4, 5 31/03/2015 10 0.01 875,000 -200,000

Altitude Resources Inc. (formerly Triumph Ventures III Corporation)

Common Shares Wusaty, Eugene 3, 4 31/03/2015 10 0.115 7,250,300 2,000

Altus Group Limited Common Shares Chande, Narendra 5 01/04/2015 11 20.68 18,905 -9,395

Altus Group Limited Common Shares Derbyshire, Jim 5 01/04/2015 51 7.25 10,000




Insider Reporting

April 9, 2015

(2015), 38 OSCB 3442



Acquired/ Disposed

Altus Group Limited Options Derbyshire, Jim 5 01/04/2015 51 7.25 -10,000

Altus Group Limited Options Derbyshire, Jim 5 01/04/2015 59 7.25 48,000 -10,000



Altus Group Limited Options Derbyshire, Jim 5 01/04/2015 59 8.36 38,000 -10,000

Altus Group Limited Common Shares McSweeney, Niall 5 01/04/2015 11 20.68 24,398 -15,654

American Core Sectors Dividend Fund

Trust Units American Core Sectors Dividend Fund

1 26/03/2015 38 10.431 35,900 3,300



1 31/03/2015 38 10.578 46,900 11,000



1 01/04/2015 38 10.475 48,700 1,800


Trust Units Brasseur, Jeremy 6 31/03/2015 10 10.5 1,000 1,000

American Potash Corp. Common Shares Confederation Minerals Ltd. 3 10/02/2015 11 0.05 4,500,010 -3,000,000

Amerigo Resources Ltd Options Castle, Geoffrey 4 30/03/2015 50 0.37 300,000 100,000

Amerigo Resources Ltd Options Davidson, Aurora 5 30/03/2015 50 0.37 1,450,000 250,000

Amerigo Resources Ltd Options Gayton, Robert 4 04/03/2015 52 0.7 800,000 -200,000

Amerigo Resources Ltd Options Gayton, Robert 4 30/03/2015 50 0.37 900,000 100,000

Amerigo Resources Ltd Options GOEPEL, RUSTON ERNEST TREMAYNE

4 04/03/2015 52 0.7 775,000 -200,000

Amerigo Resources Ltd Options GOEPEL, RUSTON ERNEST TREMAYNE

4 30/03/2015 50 0.37 875,000 100,000

Amerigo Resources Ltd Options Henderson, Robert Duncan 5 30/03/2015 50 0.37 1,600,000 300,000

Amerigo Resources Ltd Options Ireland, George R. 4 30/03/2015 50 0.37 300,000 100,000

Amerigo Resources Ltd Options Kuta, Michael John 5 30/03/2015 50 0.37 1,150,000 150,000

Amerigo Resources Ltd Options Robinson, Sidney P H 4 04/03/2015 52 0.7 800,000 -200,000

Amerigo Resources Ltd Options Robinson, Sidney P H 4 30/03/2015 50 0.37 900,000 100,000

Amerigo Resources Ltd Options Salas, Alberto 4, 7 30/03/2015 50 0.37 900,000 100,000

Amerigo Resources Ltd Options Zeitler, Klaus M 4, 5 30/03/2015 50 0.37 2,800,000 400,000

Antibe Therapeutics Inc. Common Shares Sakhia, Samira 4 12/05/2014 00

Antibe Therapeutics Inc. Common Shares Sakhia, Samira 4 01/04/2015 16 0.1 250,000 250,000

Antibe Therapeutics Inc. Warrants Sakhia, Samira 4 12/05/2014 00

Antibe Therapeutics Inc. Warrants Sakhia, Samira 4 01/04/2015 16 0.15 125,000 125,000

Aquila Resources Inc. Common Shares HudBay Minerals Inc. 3 31/03/2015 97 34,748,527 1,730,769

Aquila Resources Inc. Warrants HudBay Minerals Inc. 3 12/08/2009 00

Aquila Resources Inc. Warrants HudBay Minerals Inc. 3 31/03/2015 97 865,385 865,385

ARC Resources Ltd. Deferred Share Units (DSU) (Cash based only)

Dielwart, John Patrick 4 31/03/2015 56 22.24 14,453 2,642


Dyment, Fred J. 4 31/03/2015 56 22.24 20,857 1,585


Hearn, Timothy James 4 31/03/2015 56 22.24 16,791 1,585


Houck, James Curtis 4 31/03/2015 56 22.24 23,116 1,850


Kvisle, Harold N. 4 31/03/2015 56 22.24 29,240 2,474


O'Neill, Kathleen M. 4 31/03/2015 56 22.24 26,548 2,204


Pinder, Herbert 4 31/03/2015 56 22.24 36,322 2,642


Sembo, William, George 4 31/03/2015 56 22.24 5,845 1,484


Van Wielingen, Mac Howard 4 31/03/2015 56 22.24 68,073 4,666

Arctic Star Exploration Corp. Common Shares Power, Patrick Edward 4, 5 31/03/2015 10 0.05 3,076,866 100,000

Argentum Silver Corp. Common Shares Balderson, Geoffrey 3, 4, 5 02/04/2015 10 0.03 965,760 48,000

Arsenal Energy Inc. Options Nolte, Leo John 5 31/03/2015 52 8.8 72,000 -40,000

Artis Real Estate Investment Trust

Deferred Units Ryan, Patrick Gowan 4 01/04/2015 56 14.98 4,914 1,293

Astorius Resources Ltd. Common Shares Arbutus Enterprises Ltd. 3 01/04/2015 10 0.02 2,911,500 309,000

Astorius Resources Ltd. Common Shares Powell, Theodore James Malcolm

4, 6, 5 01/04/2015 10 0.02 3,211,500 309,000

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3443



Acquired/ Disposed

ATCO LTD. Non-Voting Shares Class I Charlton, Loraine M. 7 31/03/2015 10 45.12 574 2

ATCO LTD. Non-Voting Shares Class I Francis, Robert, B 7 31/03/2015 10 46.036 1,037 5

ATCO LTD. Rights 56.63 (SAR) Han, Alfred S. 7 22/03/2015 59 48.33 -1,600

ATCO LTD. Rights 56.63 (SAR) Han, Alfred S. 7 22/03/2015 59 48.33 800 -1,600

Athabasca Oil Corporation Units Units of a Fund that holds securities of Athabasca

Anderson, Kimberly 5 18/02/2014 00

Athabasca Oil Corporation Units Units of a Fund that holds securities of Athabasca

Anderson, Kimberly 5 31/12/2014 30 2.17 2,773 2,773

Athabasca Oil Corporation Units of a Fund that holds securities in Athabasca

Bowie, Robert Charles 5 31/12/2014 30 2.17 6,303 3,361


Braun, Kevin Edward 5 31/12/2014 30 2.17 4,350 2,490


Broen, Robert Anthony 5 31/12/2014 30 2.17 8,644 5,078

Athabasca Oil Corporation Units of a Fund that hold securities of Athabasca

Buchanan, Thomas William 4 08/04/2010 00

Athabasca Oil Corporation Units of a Fund that hold securities of Athabasca

Buchanan, Thomas William 4 31/12/2014 30 2.17 1,400 1,400

Athabasca Oil Corporation Units in a Fund that holds securities of Athabasca

Hockley, Robert Blair 5 01/12/2014 00 5,463

Athabasca Oil Corporation Units of a Fund that holds securities of Athabasca

Schenkenberger, Anne Terese

5 31/12/2014 30 2.17 6,361 3,360


Smith, Kevin George 5 06/01/2014 00


Smith, Kevin George 5 31/12/2014 30 2.17 3,754 3,754

Atlantic Power Corporation Convertible Debentures (5.75% Series C Unsecured Subordinated Debt. due 6/30/2019)

Atlantic Power Corporation 1 31/03/2015 38 $0 -$207,000

Atlantic Power Corporation Convertible Debentures Convertible Deb. 6% Convertible Unsecured Subordinated Deb.

Atlantic Power Corporation 1 05/03/2015 38 80 $9,000 $9,000








Atlantic Power Corporation 1 12/03/2015 38 79.39 $190,000 $23,000


Atlantic Power Corporation 1 13/03/2015 38 79.79 $218,000 $28,000




Atlantic Power Corporation 1 31/03/2015 38 $0 -$306,000

Atna Resources Ltd. Common Shares Dickson, Glen Dale 4 02/04/2015 57 361,174 38,032

Atna Resources Ltd. Rights Restricted Stock Units

Dickson, Glen Dale 4 02/04/2015 56 38,032 38,032


Dickson, Glen Dale 4 02/04/2015 57 0 -38,032

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3444



Acquired/ Disposed

Atna Resources Ltd. Common Shares Fagin, David Kyle 4 31/03/2015 57 0.1108 775,661 54,292

Atna Resources Ltd. Rights - Restricted Stock Units

Fagin, David Kyle 4 31/03/2015 56 0.1108 54,292 54,292


Fagin, David Kyle 4 31/03/2015 57 0.1108 0 -54,292

Atna Resources Ltd. Common Shares Gloss, Rodney 5 31/03/2015 57 0.1108 489,712 69,901


Gloss, Rodney 5 31/03/2015 56 0.1108 69,901 69,901


Gloss, Rodney 5 31/03/2015 57 0.1108 0 -69,901

Atna Resources Ltd. Common Shares Herald, Christopher 4 31/03/2015 57 0.1108 604,662 55,721

Atna Resources Ltd. Rights -Restricted Stock Units

Herald, Christopher 4 31/03/2015 56 0.1108 55,721 55,721

Atna Resources Ltd. Rights -Restricted Stock Units

Herald, Christopher 4 31/03/2015 57 0.1108 0 -55,721

Atna Resources Ltd. Common Shares Hesketh, James 4 31/03/2015 57 118286 1,250,629 118,286

Atna Resources Ltd. Options Hesketh, James 4 17/12/2013 52 -200,000

Atna Resources Ltd. Options Hesketh, James 4 17/12/2013 52 1,800,000 -150,000

Atna Resources Ltd. Rights Hesketh, James 4 31/03/2015 56 0.1108 248,429 118,286

Atna Resources Ltd. Rights Hesketh, James 4 31/03/2015 57 0.1108 118,286

Atna Resources Ltd. Rights Hesketh, James 4 31/03/2015 57 0.1108 130,143 -118,286

Atna Resources Ltd. Common Shares Parker, Ronald Dean 4 31/03/2015 57 0.1108 555,592 51,435


Parker, Ronald Dean 4 31/03/2015 56 0.1108 51,435 51,435


Parker, Ronald Dean 4 31/03/2015 57 0.1108 0 -51,435

Atna Resources Ltd. Common Shares Stanley, William Russell 5 31/03/2015 57 0.1108 793,833 74,551


Stanley, William Russell 5 31/03/2015 56 0.1108 74,551 74,551


Stanley, William Russell 5 31/03/2015 57 0.1108 0 -74,551

Atna Resources Ltd. Common Shares Zink, Paul Harper 4 31/03/2015 57 0.1108 610,329 68,580


Zink, Paul Harper 4 31/03/2015 57 0.1108 68,580 68,580


Zink, Paul Harper 4 31/03/2015 57 0.1108 0 -68,580

Aura Silver Resources Inc. Common Shares McNeice, John Darin 5 24/03/2015 10 0.01 2,221,000 500,000




Aureus Mining Inc. Common Shares Ireton, Karin Merle 4 04/11/2014 00

Aureus Mining Inc. Common Shares Ireton, Karin Merle 4 31/03/2015 10 0.24 35,000 35,000

Aureus Mining Inc. Common Shares Martin, Jean-Guy 4 26/03/2015 10 0.485 25,000 10,000

Aureus Mining Inc. Common Shares Netherway, David 4 26/03/2015 10 0.2525 263,595 50,000

Aureus Mining Inc. Common Shares Reading, David 4 26/03/2015 10 0.249 428,334 50,000

Aureus Mining Inc. Common Shares Reynolds, Adrian James 4 05/04/2011 00

Aureus Mining Inc. Common Shares Reynolds, Adrian James 4 26/03/2015 10 0.26 10,000 10,000

Auxellence Health Corporation (formerly 0924888 BC Ltd.)

Common Shares Manji, Faisal 4 26/03/2015 11 204,500 100,000

Auxellence Health Corporation (formerly 0924888 BC Ltd.)

Common Shares Ozols, Ronald Ozols 4 26/03/2015 11 2,636,100 -100,000

Avante Logixx Inc. Common Shares Dushek, Yoram 7 01/04/2015 00




Avante Logixx Inc. Common Shares Dushek, Yoram 7 01/04/2015 16 0.38 3,157,896 3,157,896

Avante Logixx Inc. Options Rossolatos, George 4, 5 01/04/2015 99 2,300,000 -4,000,000

Avante Logixx Inc. Warrants Rossolatos, George 4, 5 02/04/2015 55 0 -625,000

Axia NetMedia Corporation Common Shares Hartslief, Alan Guy 5 30/03/2015 51 1.33 345,765 200,000

Axia NetMedia Corporation Common Shares Hartslief, Alan Guy 5 30/03/2015 10 3.1787 305,765 -40,000

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3445



Acquired/ Disposed

Axia NetMedia Corporation Options Hartslief, Alan Guy 5 30/03/2015 51 1.33 0 -200,000

Axia NetMedia Corporation Common Shares Price, Arthur R. 4, 5 01/04/2015 51 1.53 1,526,710 1,000,000

Axia NetMedia Corporation Options Price, Arthur R. 4, 5 01/04/2015 51 1.53 0 -1,000,000

Axia NetMedia Corporation Common Shares Read, John K. 4 01/04/2015 51 1.71 70,000 15,000

Axia NetMedia Corporation Options Read, John K. 4 01/04/2015 51 1.71 15,000 -15,000

AXMIN Inc. (formerly Asquith Resources Inc.)

Common Shares weill, david de jongh 4 30/03/2015 15 0.025 1,166,616 356,500

B2Gold Corp. Common Shares Bartz, Eduard 5 30/03/2015 57 1.92 35,088 35,088

B2Gold Corp. Common Shares Bartz, Eduard 5 31/03/2015 10 1.89 0 -35,088

B2Gold Corp. Options Bartz, Eduard 5 30/03/2015 50 2 675,000 300,000

B2Gold Corp. Units Restricted Share Units (Common Shares)

Bartz, Eduard 5 30/03/2015 57 1.92 95,911 -35,088

B2Gold Corp. Options Bongani, Mtshisi 4 30/04/2014 50 3.15 537,000 100,000

B2Gold Corp. Options Bongani, Mtshisi 4 30/03/2015 50 2 637,000 100,000

B2Gold Corp. Options Bongani, Mtshisi 4 30/04/2014 50 3.15 100,000

B2Gold Corp. Options Bongani, Mtshisi 4 30/04/2014 50 3.15 100,000

B2Gold Corp. Options Bullock, Kevin 4 30/03/2015 50 694,500 100,000

B2Gold Corp. Common Shares Cinnamond, Michael Andrew

5 30/03/2015 57 1.92 178,118 65,790

B2Gold Corp. Common Shares Cinnamond, Michael Andrew

5 02/04/2015 10 1.92 156,871 -21,247

B2Gold Corp. Options Cinnamond, Michael Andrew

5 30/03/2015 50 2 1,000,000 500,000

B2Gold Corp. Restricted Share Units Cinnamond, Michael Andrew

5 30/03/2015 57 1.92 220,445 -65,790

B2Gold Corp. Common Shares Craig, Dale Alton 5 30/03/2015 57 1.92 35,080

B2Gold Corp. Common Shares Craig, Dale Alton 5 30/03/2015 57 1.92 35,080

B2Gold Corp. Common Shares Craig, Dale Alton 5 30/03/2015 57 1.92 209,800 35,088

B2Gold Corp. Common Shares Craig, Dale Alton 5 02/04/2015 10 1.92 198,461 -11,339

B2Gold Corp. Options Stock Options Craig, Dale Alton 5 30/03/2015 50 2 990,000 400,000

B2Gold Corp. Rights Restricted Share Units

Craig, Dale Alton 5 30/03/2015 57 1.92 195,551 -35,088

B2Gold Corp. Options Cross, Robert Melvin Douglas

4 06/12/2007 00

B2Gold Corp. Options Cross, Robert Melvin Douglas

4 30/03/2015 50 2 250,000 250,000

B2Gold Corp. Options from B2Gold Corp. Incentive Plan (Trustee Options)

Cross, Robert Melvin Douglas

4 06/12/2007 00



4 30/03/2015 50 2 250,000



4 30/03/2015 50 2 250,000

B2Gold Corp. Common Shares Garagan, Thomas 5 30/03/2015 57 1.92 4,572,367 65,790

B2Gold Corp. Options Garagan, Thomas 5 06/12/2007 00

B2Gold Corp. Options Garagan, Thomas 5 30/03/2015 50 2 800,000 800,000

B2Gold Corp. Restricted Share Units Garagan, Thomas 5 30/03/2015 57 1.92 290,439 -65,790

B2Gold Corp. Options Gayton, Robert 4 30/03/2015 50 2 500,000 100,000

B2Gold Corp. Common Shares Johnson, Clive Thomas 4 30/03/2015 57 1.92 7,587,108 131,579

B2Gold Corp. Options Johnson, Clive Thomas 4 07/12/2007 00

B2Gold Corp. Options Johnson, Clive Thomas 4 30/03/2015 50 2 2,300,000 2,300,000

B2Gold Corp. Restricted Share Units Johnson, Clive Thomas 4 30/03/2015 57 1.92 794,604 -131,579

B2Gold Corp. Options Johnson, George 5 11/08/2009 00

B2Gold Corp. Options Johnson, George 5 30/03/2015 50 2 300,000 300,000

B2Gold Corp. Options Korpan, Jerry 4 30/03/2015 50 2 500,000 100,000

B2Gold Corp. Common Shares Lytle, William 5 30/03/2015 57 1.92 108,118 65,790

B2Gold Corp. Common Shares Lytle, William 5 02/04/2015 10 1.92 81,718 -26,400

B2Gold Corp. Restricted Share Units Lytle, William 5 30/03/2015 57 1.92 194,161 -65,790

B2Gold Corp. Stock Options Lytle, William 5 30/03/2015 50 2 702,400 400,000

B2Gold Corp. Common Shares Mackinnon, Hugh 5 30/03/2015 57 1.92 300,088 35,088

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3446



Acquired/ Disposed

B2Gold Corp. Options Mackinnon, Hugh 5 30/03/2015 50 2 725,000 250,000

B2Gold Corp. Units Restricted Share Units

Mackinnon, Hugh 5 23/03/2015 56 1.9 70,175


Mackinnon, Hugh 5 23/03/2015 56 1.9 70,175


Mackinnon, Hugh 5 30/03/2015 57 1.92 35,087 -35,088

B2Gold Corp. Common Shares MacLean, Ian 5 30/03/2015 57 1.92 903,304 36,184

B2Gold Corp. Common Shares MacLean, Ian 5 02/04/2015 10 1.92 891,612 -11,692

B2Gold Corp. Options MacLean, Ian 5 30/03/2015 50 2 400,000 400,000

B2Gold Corp. Restricted Share Units MacLean, Ian 5 30/03/2015 57 1.92 153,627 -36,184

B2Gold Corp. Options RAYMENT, BARRY DONALD

4 30/03/2015 50 2 500,000 100,000

B2Gold Corp. Common Shares Richer, Roger 5 30/03/2015 57 1.92 4,065,790 65,790

B2Gold Corp. Options Richer, Roger 5 06/12/2007 00

B2Gold Corp. Options Richer, Roger 5 30/03/2015 50 2 800,000 800,000

B2Gold Corp. Restricted Share Units Richer, Roger 5 30/03/2015 57 1.92 290,439 -65,790

B2Gold Corp. Common Shares Scott, Brian 5 30/03/2015 57 1.92 210,002 35,088

B2Gold Corp. Common Shares Scott, Brian 5 02/04/2015 10 1.92 174,914 -35,088

B2Gold Corp. Options Scott, Brian 5 30/03/2015 50 2 725,000 250,000


Scott, Brian 5 23/03/2015 56 1.9 70,175 70,175


Scott, Brian 5 30/03/2015 57 1.92 35,087 -35,088

B2Gold Corp. Common Shares Stansbury, Dennis 5 30/03/2015 57 1.92 4,032,293 58,684

B2Gold Corp. Options Stansbury, Dennis 5 06/12/2007 00

B2Gold Corp. Options Stansbury, Dennis 5 30/03/2015 50 2 700,000 700,000

B2Gold Corp. Restricted Share Units Stansbury, Dennis 5 30/03/2015 57 1.92 240,312 -58,684

Ballard Power Systems Inc. Units Deferred Share Units

Bourne, Ian Alexander 4 31/03/2015 46 2.64 209,214 6,628


Hayhurst, Douglas Palmer 4 31/03/2015 46 2.64 93,024 6,155


Kilroy, Edwin Joseph 4 31/03/2015 46 2.64 136,777 4,734


Stephenson, Carol M. 4 31/03/2015 46 2.64 108,163 7,102


Sutcliffe, David B. 4 31/03/2015 46 2.64 112,748 3,787


Sutcliffe, Ian Douglas 4 31/03/2015 46 2.64 26,847 3,787

Bank of Nova Scotia, The Common Shares Alexander, Deborah 5 02/04/2015 51 46.02 44,400 29,972

Bank of Nova Scotia, The Common Shares Alexander, Deborah 5 02/04/2015 10 63.185 14,428 -29,972

Bank of Nova Scotia, The Options Alexander, Deborah 5 02/04/2015 51 46.02 428,710 -29,972

Bank of Nova Scotia, The Common Shares McKenzie, Kimberlee 5 27/03/2015 51 33.89 80,431 18,316

Bank of Nova Scotia, The Common Shares McKenzie, Kimberlee 5 27/03/2015 51 47.75 87,431 7,000

Bank of Nova Scotia, The Options McKenzie, Kimberlee 5 27/03/2015 51 33.89 271,982 -18,316

Bank of Nova Scotia, The Options McKenzie, Kimberlee 5 27/03/2015 51 47.75 264,982 -7,000

Banro Corporation Common Shares Gramercy Funds Management LLC

3 31/03/2015 10 0.21 902,764 -37,836

Banro Corporation Common Shares Gramercy Funds Management LLC

3 01/04/2015 10 0.2 601,064 -301,700

Barrick Gold Corporation Rights Deferred Share Units (cash settled)

Birchall, Charles William David

4, 5 16/03/2015 30 10.6 4,249 20


Cisneros, Gustavo Alfredo 4 16/03/2015 30 10.6 64,026 301


Cisneros, Gustavo Alfredo 4 01/04/2015 56 11.21 68,486 4,460


Evans, John Michael 4 16/03/2015 30 10.6 7,022 33


Evans, John Michael 4 01/04/2015 56 11.21 11,483 4,461


Goodman, Ned 4 01/04/2015 30 10.6 9,992 47

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3447



Acquired/ Disposed


Goodman, Ned 4 01/04/2015 56 11.21 14,452 4,460


Greenspun, Brian Lee 4 16/03/2015 30 10.6 5,267 25


Greenspun, Brian Lee 4 01/04/2015 56 11.21 8,612 3,345


Harvey, Joseph Brett 4 16/03/2015 30 10.6 36,956 174


Harvey, Joseph Brett 4 01/04/2015 56 11.21 41,416 4,460


Lockhart, Nancy 4 16/03/2015 30 10.6 9,992 47


Lockhart, Nancy 4 01/04/2015 56 11.21 14,453 4,461


Moyo, Dambisa 4 16/03/2015 30 10.6 18,175 86


Moyo, Dambisa 4 01/04/2015 56 11.21 21,520 3,345


Munk, Anthony 4 16/03/2015 30 10.6 52,581 247


Munk, Anthony 4 01/04/2015 56 11.21 57,041 4,460


Naylor, Christopher David (David)

4 16/03/2015 30 10.6 9,992 47


Naylor, Christopher David (David)

4 01/04/2015 56 11.21 14,453 4,461


Shapiro, Steven J. 4 16/03/2015 30 10.6 32,991 155


Shapiro, Steven J. 4 01/04/2015 56 11.21 37,452 4,461

Barrick Gold Corporation Common Shares Thornton, John Lawson 4, 5 27/03/2015 10 11.37 915,000 360,600


Thornton, John Lawson 4, 5 16/03/2015 30 10.6 1,116 5


Thrasher, Ernie Leo 4 16/03/2015 30 10.6 9,992 47


Thrasher, Ernie Leo 4 01/04/2015 56 11.21 14,453 4,461

Baylin Technologies Inc. Deferred Share Units Day, Stockwell 4 31/03/2015 56 2.99 6,696 837

Baylin Technologies Inc. Deferred Share Units Jones, Douglas Aubrey 4 31/03/2015 56 2.99 6,696 837

Baylin Technologies Inc. Deferred Share Units Reiter, Barry 4 31/03/2015 56 2.99 14,963 1,116

Baylin Technologies Inc. Deferred Share Units SIMMONDS, DONALD E. 4 31/03/2015 56 2.99 6,696 837

Baylin Technologies Inc. Deferred Share Units Wolkin, Harold Morton 4 31/03/2015 56 2.99 8,925 1,116

Baytex Energy Corp. Common Shares Arthur, Kendall Douglas 5 01/04/2015 57 19.73 9,023 288

Baytex Energy Corp. Common Shares Arthur, Kendall Douglas 5 01/04/2015 57 19.73 9,117 94

Baytex Energy Corp. Common Shares Arthur, Kendall Douglas 5 01/04/2015 30 20.14 9,003 -114

Baytex Energy Corp. Performance Awards Arthur, Kendall Douglas 5 01/04/2015 57 19.73 22,547 -164

Baytex Energy Corp. Restricted Awards Arthur, Kendall Douglas 5 01/04/2015 57 19.73 12,457 -88

Baytex Energy Corp. Common Shares Bowzer, James Lee 5 01/04/2015 57 19.73 90,426 22,899


Baytex Energy Corp. Common Shares Bowzer, James Lee 5 01/04/2015 30 20.14 80,908 -13,340


Baytex Energy Corp. Performance Awards Bowzer, James Lee 5 01/04/2015 57 19.73 142,669 -13,333

Baytex Energy Corp. Restricted Awards Bowzer, James Lee 5 01/04/2015 57 19.73 35,669 -3,333

Baytex Energy Corp. Common Shares Brussa, John Albert 4 02/04/2015 15 17.35 420,912 40,000

Baytex Energy Corp. Common Shares Darcy, Geoffrey James 5 02/04/2015 15 17.35 62,423 25,000

Baytex Energy Corp. Common Shares Dargan, Naveen 4 02/04/2015 15 17.35 189,978 36,000

Baytex Energy Corp. Common Shares Desrosiers, Murray Joseph 5 31/12/2010 00

Baytex Energy Corp. Common Shares Desrosiers, Murray Joseph 5 02/04/2015 15 17.35 4,000 4,000

Baytex Energy Corp. Common Shares Ector, Brian Gordon 5 02/04/2015 15 17.35 35,742 4,000

Baytex Energy Corp. Common Shares Gray, Rodney 5 02/04/2015 15 17.35 33,739 5,000

Baytex Energy Corp. Common Shares Melchin, Gregory Knowles 4 02/04/2015 15 17.35 44,842 5,000

Baytex Energy Corp. Common Shares Montemurro, Mark Anthony 5 02/04/2015 15 17.35 9,203 6,500

Baytex Energy Corp. Common Shares Peters, Mary Ellen 4 02/04/2015 15 17.35 12,514 7,200

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3448



Acquired/ Disposed

Baytex Energy Corp. Common Shares Ramsay, Richard 5 31/12/2010 00

Baytex Energy Corp. Common Shares Ramsay, Richard 5 02/04/2015 15 17.35 3,500 3,500

Baytex Energy Corp. Common Shares Sawchenko, Gregory Alexander Mykola

5 02/04/2015 15 17.35 3,414 1,495


5 02/04/2015 10 20.59 7,284 3,870


5 02/04/2015 10 20.6 8,684 1,400

Baytex Energy Corp. Common Shares Verm, Michael Lloyd 5 02/04/2015 15 17.35 15,600 3,600

BCE Inc. Share Units Crull, Kevin W. 7 27/03/2015 38 -30,434

BCE Inc. Share Units Crull, Kevin W. 7 27/03/2015 59 -30,434

BCE Inc. Share Units Crull, Kevin W. 7 27/03/2015 59 48.5 96,577 -30,434

BCE Inc. Restricted Share Units HOWE, STEPHEN GUY 7 15/04/2014 30 48.45 279

BCE Inc. Restricted Share Units HOWE, STEPHEN GUY 7 15/04/2014 30 48.45 46,042 579

Bellatrix Exploration Ltd. Deferred Share Units Johnson, Robert Anthony 4 31/03/2015 56 3.16 121,293 5,696

Benton Resources Inc. Common Shares Benton Resources Inc. 1 30/03/2015 38 0.035 174,000 174,000

Benton Resources Inc. Common Shares Benton Resources Inc. 1 31/03/2015 38 0.035 217,000 43,000

Big Rock Labs Inc. Common Shares Seemann, Harald 4 01/04/2015 10 0.74 7,699,125 -1,500

BioNeutra Global Corporation

Common Shares Guan, Jiayu 4 30/03/2015 11 0.3 1,726,281 300,000

BioNeutra Global Corporation

Common Shares Guan, Jiayu 4 30/03/2015 53 0.5 2,026,281 300,000

Biosign Technologies Inc. Common Shares Rygwalski, Dennis 4 14/03/2014 97 0.045 1,292,167 30,225

BIOX Corporation Options - Common Shares Clinning, Christopher Anthony

5 02/03/2015 52 625,000 -100,000

BIOX Corporation Options - Common Shares Lewis, Scott Bland Lewis 5 02/03/2015 52 285,000 -50,000

BIOX Corporation Options - Common Shares Norton, Kevin W. 5 02/03/2015 52 625,000 -100,000

BIOX Corporation Options - Common Shares Paik, Nakyun G. 5 02/03/2015 52 245,000 -50,000

Black Iron Inc. Common Shares Simpson, Matthew James 5 01/04/2015 10 0.025 988,000 400,000

BlackBerry Limited (formerly Research In Motion Limited)

Common Shares Ho, Sai Yuen (Billy) 5 27/03/2014 00


Common Shares Ho, Sai Yuen (Billy) 5 31/03/2015 57 61881 61,881


Common Shares Ho, Sai Yuen (Billy) 5 31/03/2015 57 61881 61,881


Common Shares Ho, Sai Yuen (Billy) 5 31/03/2015 10 8.9829 -23,135








Common Shares Ho, Sai Yuen (Billy) 5 31/03/2015 57 61,881 61,881


Common Shares Ho, Sai Yuen (Billy) 5 31/03/2015 10 8.9829 38,746 -23,135


Restricted Share Units Ho, Sai Yuen (Billy) 5 31/03/2015 57 160,418 -61,881


Common Shares Johnson, Eric D. 5 13/01/2014 00


Common Shares Johnson, Eric D. 5 31/03/2015 57 82,508 82,508


Common Shares Johnson, Eric D. 5 31/03/2015 10 8.9829 46,118 -36,390


Restricted Share Units Johnson, Eric D. 5 31/03/2015 57 194,341 -82,508


Common Shares Louks, Ronald Allen 5 05/01/2014 00


Common Shares Louks, Ronald Allen 5 31/03/2015 57 82,508 82,508


Common Shares Louks, Ronald Allen 5 31/03/2015 10 8.9829 55,304 -27,204


Restricted Share Units Louks, Ronald Allen 5 31/03/2015 57 213,891 -82,508

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3449



Acquired/ Disposed


Common Shares Sims, John J. 5 01/01/2014 00


Common Shares Sims, John J. 5 31/03/2015 57 82,508 82,508


Common Shares Sims, John J. 5 31/03/2015 10 8.9829 51,595 -30,913


Restricted Share Units Sims, John J. 5 31/03/2015 57 213,891 -82,508

Blackbird Energy Inc. Options Noakes, Donald William Norman

5 31/03/2015 00 1,000,000

BlackIce Enterprise Risk Management Inc. (formerly Bonaparte Resources Inc.)

Common Shares Kalyan, Mukhtar 6 18/07/2014 47 3,600,000 -400,000

Blackline GPS Corp. Common Shares DAK Investments Corp. 3 30/03/2015 54 6,530,782 1,600,000

Blackline GPS Corp. Warrants DAK Investments Corp. 3 30/03/2015 54 1.5 1,304,348 -1,600,000

BNP Resources Inc. Common Shares Class A Doody, David Joseph 4 20/03/2015 00 5,762,300

Boardwalk Real Estate Investment Trust

Trust Units Mix, Helen May 5 30/03/2015 10 58.09 5,523 -600











Bold Ventures Inc. Common Shares Nemis, Richard 4 31/03/2015 10 0.04 5,070,477 63,000

Bold Ventures Inc. Common Shares Nemis, Richard 4 31/03/2015 10 0.05 5,117,477 47,000

Bombardier Inc. Subordinate Voting Shares Classe B/ Class B Shares ( Subordinate Voting)

Bellemare, Alain 4, 5 27/03/2015 36 2.21 565,000 565,000

Bombardier Inc. Subscription Rights Droits de souscription négociés au TSX

Bellemare, Alain 4, 5 27/03/2015 36 2.21 0 -565,000

Bonavista Energy Corporation

Common Shares Kanovsky, Michael Manuel 4 31/03/2015 30 14.93 14,112 66


Common Shares Kanovsky, Michael Manuel 4 31/03/2015 30 14,283 171


Common Shares Kanovsky, Michael Manuel 4 31/03/2015 30 14,468 185


Common Shares Kanovsky, Michael Manuel 4 31/03/2015 30 14.93 1,002,754 23,193

Bonterra Energy Corp. Common Shares Fink, George Frederick 3, 4, 5 30/03/2015 10 33.75 2,878,089 5,000

BRAMPTON BRICK LIMITED

Options Grant, Peter David 4 03/04/2015 50 6.9 36,000 4,000

BrightPath Early Learning Inc. (formerly Edleun Group, Inc.)

Common Shares BrightPath Early Learning Inc.

1 31/03/2015 38 0.295 22,000 6,000

Brixton Metals Corporation Common Shares Thompson, Gary Robert 6 01/04/2015 10 0.11 713,084 20,000

Brixton Metals Corporation Common Shares Thompson, Gary Robert 6 02/04/2015 10 0.14 718,084 5,000

Brookfield Asset Management Inc.

Common Shares Class A Limited Voting

Blidner, Jeffrey Miles 5 24/02/2015 11 -172,651



Blidner, Jeffrey Miles 5 24/02/2015 11 2,262,906 -274,328



Cockwell, Jack Lynn 4, 5 31/03/2015 11 5,234,567 156,944


Deferred Share Units Cockwell, Jack Lynn 4, 5 31/03/2015 30 431,706 6,511


Deferred Share Units Coutu, Marcel R. 4 31/03/2015 30 68.46 20,832 61


Deferred Share Units Coutu, Marcel R. 4 31/03/2015 30 54 20,835 3


Deferred Share Units Coutu, Marcel R. 4 31/03/2015 56 54 21,026 191

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3450



Acquired/ Disposed


Deferred Share Units Harding, Robert J 4, 5 31/03/2015 30 396,040 5,970


Deferred Share Units Kempston Darkes, V. Maureen

4 31/03/2015 30 68.46 28,158 82



4 31/03/2015 30 54 28,164 6



4 31/03/2015 56 54 28,546 382



Kerr, David Wylie 4 31/03/2015 11 1,570,371 47,083


Deferred Share Units Kerr, David Wylie 4 31/03/2015 30 68.46 14,170 39


Deferred Share Units Kerr, David Wylie 4 31/03/2015 30 54 14,175 5


Deferred Share Units Kerr, David Wylie 4 31/03/2015 56 54 14,522 347



Kress, Edward Charles 7 31/03/2015 11 16,412 492


Deferred Share Units Kress, Edward Charles 7 31/03/2015 30 146,395 2,207


Deferred Share Units Liebman, Lance Malcolm 4 31/03/2015 30 68.46 25,696 74


Deferred Share Units Liebman, Lance Malcolm 4 31/03/2015 30 54 25,701 5


Deferred Share Units Liebman, Lance Malcolm 4 31/03/2015 56 54 26,083 382


Deferred Share Units Lind, Philip Bridgman 4 31/03/2015 30 68.46 75,120 222


Deferred Share Units Lind, Philip Bridgman 4 31/03/2015 30 54 75,131 11


Deferred Share Units Lind, Philip Bridgman 4 31/03/2015 56 54 75,825 694


Deferred Share Units McKenna, Frank 4 31/03/2015 30 68.46 70,668 184


Deferred Share Units McKenna, Frank 4 31/03/2015 30 54 70,703 35


Deferred Share Units McKenna, Frank 4 31/03/2015 56 54 73,018 2,315


Deferred Share Units Nasr, Youssef 8 31/03/2015 30 68.46 9,449 24


Deferred Share Units Nasr, Youssef 8 31/03/2015 30 54 9,454 5


Deferred Share Units Nasr, Youssef 8 31/03/2015 56 54 9,836 382


Deferred Share Units O'Donnell, Augustine Thomas

4 31/03/2015 30 68.46 6,209 8



4 31/03/2015 30 54 6,220 11



4 31/03/2015 56 54 6,984 764


Deferred Share Units Pattison, James A. 4 31/03/2015 30 68.46 43,578 124


Deferred Share Units Pattison, James A. 4 31/03/2015 30 54 43,589 11


Deferred Share Units Pattison, James A. 4 31/03/2015 56 54 44,353 764



Price, Timothy Robert 6 31/03/2015 11 5,234,567 156,944


Deferred Share Units Price, Timothy Robert 6 31/03/2015 30 191,221 2,883


Deferred Share Units Seek, Ngee Huat 4 31/03/2015 30 68.46 8,419 15


Deferred Share Units Seek, Ngee Huat 4 31/03/2015 30 54 8,430 11


Deferred Share Units Seek, Ngee Huat 4 31/03/2015 56 54 9,194 764

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3451



Acquired/ Disposed


Deferred Share Units Taylor, Diana 4 31/03/2015 30 68.46 10,404 22


Deferred Share Units Taylor, Diana 4 31/03/2015 30 54 10,415 11


Deferred Share Units Taylor, Diana 4 31/03/2015 56 54 11,109 694



Taylor, George Simpson 4 01/06/2007 35 16,042



Taylor, George Simpson 4 01/06/2007 35 48,126 16,040



Taylor, George Simpson 4 01/06/2007 35 14,063



Taylor, George Simpson 4 01/06/2007 35 42,187 14,062


Deferred Share Units Taylor, George Simpson 4 31/03/2015 30 68.46 61,037 183


Deferred Share Units Taylor, George Simpson 4 31/03/2015 30 54 61,043 6


Deferred Share Units Taylor, George Simpson 4 31/03/2015 56 54 61,448 405

Brookfield Property Partners L.P.

Options (Global) Davis, Bryan Kenneth 7 13/02/2015 50 1,440,260 136,130


Options (Global) Friedrich, Dennis Henrik 7 13/02/2015 50 3,712,930 241,000


Limited Partnership Units Harding, Robert J 6 31/03/2015 10 31.2 37,573 -3,800


Limited Partnership Units Harding, Robert J 6 31/03/2015 10 31.17 1,792


Limited Partnership Units Harding, Robert J 6 31/03/2015 10 31.17 1,792





BSM Technologies Inc. Common Shares Maw, Frank 4 02/04/2015 10 1.12 82,000 5,000

BSM Technologies Inc. Common Shares Maw, Frank 4 02/04/2015 10 1.12 87,000 5,000

Buffalo Coal Corp. (formerly Forbes & Manhattan Coal Corp.)

Common Shares Resource Capital Fund V L.P.

3 02/04/2015 11 0.0682 42,621,815 4,619,258

BURCON NUTRASCIENCE CORPORATION

Rights (expire at 5 pm Toronto time on 4/30/2015)

Chau, Rosanna Mei Wah 4, 6 14/09/2000 00



Chau, Rosanna Mei Wah 4, 6 02/04/2015 56 429,174 429,174



Cheng, Jade 5 01/05/2003 00



Cheng, Jade 5 02/04/2015 56 2.26 9,224 9,224



Cheng, Jade 5 01/05/2003 00



Cheng, Jade 5 02/04/2015 56 2.26 196,987 196,987



Hall, Matthew Leigh 4 12/07/2011 00



Hall, Matthew Leigh 4 02/04/2015 56 2,117 2,117



ITC Corporation Limited 3 17/05/2002 00



ITC Corporation Limited 3 02/04/2015 56 1,902,352 1,902,352

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3452



Acquired/ Disposed



ITC Corporation Limited 3 17/05/2002 00



ITC Corporation Limited 3 02/04/2015 56 5,089,880 5,089,880



Law, Dorothy Kam To 5 02/05/2003 00



Law, Dorothy Kam To 5 02/04/2015 56 271,403 271,403



Tergesen, Johann Franz 4, 5, 2 01/05/2003 00



Tergesen, Johann Franz 4, 5, 2 02/04/2015 56 111,452 111,452





















Yap, Allan 4, 5 05/09/2000 00



Yap, Allan 4, 5 02/04/2015 56 1,419,728 1,419,728


Subscription Rights - expire at 5 pm (Toronto time) on Apr 2, 2014

Yap, Allan 4, 5 19/02/2014 56 1,340,856



Yap, Allan 4, 5 19/02/2014 56 1,340,856



Yap, Allan 4, 5 19/02/2014 56 1,340,856 1,340,856

Cadillac Ventures Inc. Common Shares Brewster, Norman 5 02/04/2015 10 0.05 76,700

Cadillac Ventures Inc. Common Shares Brewster, Norman 5 02/04/2015 10 0.05 76,700

CAE Inc. Deferred Share Units Barents, Brian 4 31/03/2015 56 14.49 89,600 3,006

CAE Inc. Deferred Share Units Fortier, Michael M 4 31/03/2015 56 14.49 30,058 2,176

CAE Inc. Deferred Share Units Gagne, Paul Ernest 4 31/03/2015 56 14.49 103,382 3,502

CAE Inc. Deferred Share Units Hankinson, James Floyd 4 31/03/2015 56 19.49 119,648 2,722

CAE Inc. Deferred Share Units Manley, John Paul 4 31/03/2015 56 14.49 72,472 3,353

CAE Inc. Common Shares Parent, Marc 4, 5 01/04/2015 51 7.6 378,813 239,800

CAE Inc. Common Shares Parent, Marc 4, 5 01/04/2015 10 15.001 139,013 -239,800

CAE Inc. Options Employee Stock Option Plan

Parent, Marc 4, 5 01/04/2015 51 7.6 1,123,600 -239,800

CAE Inc. Deferred Share Units Schoomaker, Peter J. 4 31/03/2015 56 14.49 65,186 2,889

CAE Inc. Deferred Share Units Stevens, Andrew John 4 31/03/2015 56 14.49 22,141 2,682

CAE Inc. Deferred Share Units Stevenson, Katharine Berghuis

4 31/03/2015 56 14.49 75,828 3,198

CAE Inc. Deferred Share Units Walsh, Kathleen 4 31/03/2015 56 14.49 17,696 2,489

Calfrac Well Services Ltd. Performance Share Units Aguilar, Fernando 4, 5 31/03/2015 59 8.78 238,995 -60,000

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3453



Acquired/ Disposed

Calfrac Well Services Ltd. Common Shares Blair, James S. 4 31/12/2014 30 20.98 1,129

Calfrac Well Services Ltd. Common Shares Blair, James S. 4 31/12/2014 30 16.035 34,299 1,129

Calfrac Well Services Ltd. Common Shares Fletcher, Gregory Scott 4 31/12/2014 30 20.98 2,311

Calfrac Well Services Ltd. Common Shares Fletcher, Gregory Scott 4 31/12/2014 30 16.035 75,853 2,311

Calfrac Well Services Ltd. Common Shares Gartner, Lorne 4 31/12/2014 30 20.98 66

Calfrac Well Services Ltd. Common Shares Gartner, Lorne 4 31/12/2014 30 16.035 4,228 66

Calfrac Well Services Ltd. Common Shares Marseglia, Umberto 5 31/12/2013 30 28.08 5,282 13

Calfrac Well Services Ltd. Common Shares Marseglia, Umberto 5 31/12/2014 30 16.035 16,025 52

Calfrac Well Services Ltd. Common Shares Mathison, Ronald 4, 6 31/12/2014 30 20.98 329,995

Calfrac Well Services Ltd. Common Shares Mathison, Ronald 4, 6 31/12/2014 30 16.035 15,657,193 329,995

Calfrac Well Services Ltd. Common Shares Medvedic, Tom 5 31/12/2013 30 28.087 5,466 25

Calfrac Well Services Ltd. Common Shares Medvedic, Tom 5 31/12/2014 30 16.035 12,976 75

Calfrac Well Services Ltd. Common Shares Oke, Edward 5 31/12/2014 30 16.035 193

Calfrac Well Services Ltd. Common Shares Oke, Edward 5 31/12/2014 30 16.035 6,889 193

Calfrac Well Services Ltd. Common Shares Rokosh, Gary John 5 31/12/2013 30 28.087 4,889 16

Calfrac Well Services Ltd. Common Shares Rokosh, Gary John 5 31/12/2014 30 16.035 11,554 58

Calfrac Well Services Ltd. Common Shares Sutherland, Robert 5 31/12/2013 30 28.087 2,797 11

Calfrac Well Services Ltd. Common Shares Sutherland, Robert 5 31/12/2014 30 16.035 8,034 3

Calian Technologies Ltd. Deferred Share Units (Cash Value of Common Shares)

Basler, Raymond Gregory 4 29/05/2003 00

Calian Technologies Ltd. Deferred Share Units (Cash Value of Common Shares)

Basler, Raymond Gregory 4 01/04/2015 56 18.34 204 204

Callidus Capital Corporation Common Shares sutin, david earl 4 15/04/2014 00

Callidus Capital Corporation Common Shares sutin, david earl 4 02/04/2015 10 16.52 5,000 5,000

Cameco Corporation Options Phantom Stock Options

Bopp, Markus Rolf 7 29/03/2015 52 47,932 -600

Cameco Corporation Options Bronkhorst, David Lionel 5 29/03/2015 52 63,468 -3,375

Cameco Corporation Rights Deferred Share Units

Bruce, Ian 4 27/03/2015 56 14,720 1,603


Camus, Daniel Robert 4 27/03/2015 56 41,246 2,234


Clappison, John 4 27/03/2015 56 37,273 1,574


Colvin, Joe Frederick 4 27/03/2015 56 88,979 527


Curtiss, James Richard 4 27/03/2015 56 110,715 656


Deranger, Donald Hearl Felix

4 27/03/2015 56 26,957 2,246

Cameco Corporation Options Dobchuk, James Allan 7 29/03/2015 52 70,147 -3,600

Cameco Corporation Options Doerksen, David Fehr 5 29/03/2015 52 78,336 -4,500

Cameco Corporation Options Gabruch, Timothy Stephen 5 29/03/2015 52 61,088 -2,700


Gignac, Catherine 4 27/03/2015 56 5,706 1,387

Cameco Corporation Options Gitzel, Tim Scott 5 29/03/2015 52 1,170,800 -10,000

Cameco Corporation Options Phantom Stock Options

Glattes, Gerhard 7 29/03/2015 52 66,537 -7,875

Cameco Corporation Options Gorsalitz, Caroline Marie 5 29/03/2015 52 61,919 -3,600


Gowans, James Kitchener 4 27/03/2015 56 46,484 3,275


Hopkins, Nancy Elizabeth 4 27/03/2015 56 26,733 891

Cameco Corporation Options McHardy, Scott 5 29/03/2015 52 39,591 -2,025


McLellan, A. Anne 4 27/03/2015 56 28,748 1,524


McMillan, Neil 4 27/03/2015 56 53,447 3,488

Cameco Corporation Options McNally-Power, Lynn Debra 5 29/03/2015 52 37,957 -3,375

Cameco Corporation Options Mooney, Ronald Liam 5 29/03/2015 52 64,869 -2,700

Cameco Corporation Options Orr, Kelly Lovern 7 29/03/2015 52 46,970 -5,100

Cameco Corporation Options Quinn, Sean Anthony 5 29/03/2015 52 142,857 -10,500

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3454



Acquired/ Disposed

Cameco Corporation Options Seitz, Kenneth Alvin 5 29/03/2015 52 327,670 -3,600

Cameco Corporation Options Shockey, Heidi Lynn 5 29/03/2015 52 46,170 -2,025

Cameco Corporation Options Steane, Robert Albert 5 29/03/2015 52 530,305 -10,500

Cameco Corporation Options Wong, Alice Louise 5 29/03/2015 52 238,855 -10,500


Zaleschuk, Victor Jack 4 27/03/2015 56 82,047 1,261

Canaccord Genuity Group Inc.

Common Shares Banares, Bernadette Bautista

7 31/12/2014 30 8.55 741 21


Common Shares Banares, Bernadette Bautista

7 31/12/2014 30 8.66 8,597 1,213


Common Shares Barlow, Jeffrey Griffin 7 31/12/2014 30 8.89 186


Common Shares Barlow, Jeffrey Griffin 7 31/12/2014 30 8.89 186


Common Shares Barlow, Jeffrey Griffin 7 31/12/2014 30 8.89 1,351 186


Rights Deferred Share Units (DSUs)

Bralver, Charles Norman 4 31/03/2015 56 6.6989 27,563 1,866


Common Shares Bridges, Simon Gerard 7 22/09/2014 00


Common Shares Bridges, Simon Gerard 7 31/12/2014 30 6.7 95 95


Common Shares Buell, Steve 7 31/12/2014 30 6.7 3,068 38


Common Shares Burgess, Anna Chantal Marriette

7 31/12/2014 30 6.7 1,318 15


Common Shares Callaghan, Jacques Eugene 7 31/12/2014 30 6.7 11,540 128


Common Shares Canaccord Genuity Group Inc.

1 31/03/2015 16 182,988 182,988


Common Shares Canaccord Genuity Group Inc.

1 31/03/2015 38 0 -182,988


Options Carello, Massimo 4 31/03/2015 52 50,000 -25,000



Carello, Massimo 4 31/03/2015 56 6.6989 16,811 1,866


Common Shares Chan, Gordon John 7 31/12/2014 30 8.55 5,541 63


Common Shares Chan, Gordon John 7 31/12/2014 30 9.62 21,248 2,429


Common Shares Chandler, Peter Jackman 7 30/03/2015 10 6.4575 -160,765 -35,000


Common Shares Chandler, Peter Jackman 7 31/12/2014 30 7.8 3,119 3,279


Common Shares Cicci, Matthew 7 31/03/2015 10 6.5275 53,732 -6,000


Common Shares Cuming, Nigel Clifford Patrick John

7 31/12/2014 30 6.7 3,482 39


Common Shares Daviau, Daniel Joseph 7 31/12/2014 30 8.55 3,824 110


Common Shares Davidson, John, Scott 5 31/12/2014 30 8.55 447 13


Common Shares Davidson, John, Scott 5 31/12/2014 30 9.07 10,005 1,156


Common Shares de Rosnay, Alexis 7 31/12/2014 30 7.88 130,367 2,092



Desai, Kalpana 4 31/03/2015 56 6.6989 3,979 1,866


Options Eeuwes, William J. 4 31/03/2014 52 75,000 -25,000


Options Eeuwes, William J. 4 31/03/2015 52 50,000 -25,000



Eeuwes, William J. 4 31/03/2015 56 6.6989 27,850 1,866


Common Shares Ellis, Darren 7 31/12/2014 30 9.58 4,539 193

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3455



Acquired/ Disposed


Common Shares Gabel, Thomas Edward 7 31/12/2014 30 8.52 82,475 1,952


Common Shares Goldberg, Barry 7 31/12/2014 30 9.25 4,065 675


Common Shares Gordon, Arthur James 7 31/12/2014 30 6.7 13,296 147


Common Shares Gray, Julia Nicole 7 31/12/2014 30 11.64 392 95


Common Shares Gray, Julia Nicole 7 31/12/2014 30 9.29 4,182 697


Common Shares Green, Howard Michael 7 31/12/2014 30 9.25 4,433 779


Options Harris, Michael Deane 4 31/03/2014 52 -25,000


Options Harris, Michael Deane 4 31/03/2014 52 -25,000


Options Harris, Michael Deane 4 31/03/2015 52 50,000 -25,000



Harris, Michael Deane 4 31/03/2015 56 6.6989 61,256 4,106


Common Shares HIGGINS, LYNN MARIE 7 31/12/2014 30 9.38 1,791 745


Common Shares Hirst, Edward Raye 7 31/12/2014 30 8.57 101,459 2,613


Common Shares Hunter, Darren James 7 31/12/2014 30 8.55 1,056 30


Common Shares Jappy, Andrew Iain 7 31/12/2014 30 9.07 9,008 898


Common Shares Kiernan, Peter Anthony 7 31/12/2014 30 6.7 4,540 50


Common Shares Kotush, Bradley William 5 31/12/2014 30 8.55 2,614 75


Common Shares Lovett, Grahame Paul Alan 7 31/12/2014 30 8.63 14,325 263


Options Lyons, Terrence 4 31/03/2014 52 -25,000


Options Lyons, Terrence 4 31/03/2014 52 -25,000


Options Lyons, Terrence 4 31/03/2015 52 50,000 -25,000



Lyons, Terrence 4 31/03/2015 56 6.6989 32,963 2,193


Common Shares MacLachlan, Martin Lachlan 5 31/12/2014 30 9.2 21,255 2,829


Common Shares MacLachlan, Martin Lachlan 5 31/12/2014 30 9.2 2,397 318


Common Shares Maranda, Bruce Jeffery 7 31/12/2014 30 8.51 37,913 1,044


Common Shares Maranda, Bruce Jeffery 7 31/12/2014 30 9.32 13,669 1,803


Common Shares Mayer, Jens Joachim Thorwald

7 31/12/2014 30 8.55 61 2


Common Shares McDonald, Bruce 5 31/12/2014 30 10.59 133,149 1,773


Common Shares Medina, Michael 7 31/12/2014 22 8.55 4,194 120


Common Shares Medina, Michael 7 31/12/2014 30 9.21 2,425 710



Miller, Dennis 4 31/03/2015 56 6.6989 3,027 1,866


Common Shares Mills, Jason Richard 8 31/12/2014 30 9.07 4,550 1,079


Common Shares Pejman, Alidad 5 31/12/2014 30 8.55 286 8


Common Shares Pejman, Alidad 5 31/12/2014 30 8.55 1,455 42

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3456



Acquired/ Disposed


Common Shares Pelosi, Adrian John Ugo 7 31/12/2014 30 9.26 2,950 442


Common Shares Pelosi, Adrian John Ugo 7 31/12/2014 30 9.25 3,366 458


Common Shares Rollason, Nicola Claire 7 31/12/2014 30 6.7 3,441 38


Common Shares Russell, Nicholas Brian 7 31/12/2014 30 6.7 3,441 38


Common Shares Saunders, Graham Edward 7 31/12/2014 30 7.32 2,486 903


Common Shares Sedran, Ronald 4 31/12/2014 30 8.95 63,733 1,748


Common Shares Sepahi-Donboli, Giti 5 31/12/2014 30 8.56 1,658 1,456



Shah, Dipesh Jayantilal 4 31/03/2015 56 6.6989 16,701 1,866


Common Shares Strub, Wendy Ann 7 31/12/2014 30 8.93 3,075 2,469


Common Shares Toth, Stephen Michael 7 31/12/2014 30 8.62 229


Common Shares Toth, Stephen Michael 7 31/12/2014 30 8.62 229


Common Shares Toth, Stephen Michael 7 31/12/2014 30 8.62 3,720 229


Common Shares Viles, Andrew Foster 7 31/12/2014 30 6.7 1,819 23


Common Shares Virvilis, Peter 7 31/12/2014 30 8.55 495 14


Common Shares Virvilis, Peter 7 31/12/2014 30 8.55 314 9


Common Shares Whaling, Mark Driscoll 7 31/12/2014 30 9.34 2,330 721


Common Shares Witney, Simon 5 31/12/2014 30 9.11 6,425 843


Common Shares YIP, FLORA 7 31/12/2014 30 8.6 329 8

Canadian Apartment Properties Real Estate Investment Trust

Trust Units Cryer, Scott 5 31/12/2014 30 4,202 963


Trust Units Kenney, Mark 5 31/12/2014 30 98,254 -4,314


Trust Units Kenney, Mark 5 31/12/2014 30 100,237 1,983


Trust Units Schwartz, Thomas 4, 5 17/02/2015 30 25.867 73,217 277




Trust Units Schwartz, Thomas 4, 5 17/02/2015 30 25.867 303,680 1,150











Insider Reporting

April 9, 2015

(2015), 38 OSCB 3457



Acquired/ Disposed






Trust Units Todres, Elaine 4 21/05/2013 00


Trust Units Todres, Elaine 4 25/03/2015 15 27.85 2,000 2,000

Canadian Imperial Bank of Commerce

Common Shares ESPP Culham, Harry Kenneth 7 31/12/2014 30 3,698 175


Common Shares ESPP Dodig, Victor George 4, 5 31/12/2014 30 1,116 150


Common Shares ESPP Geist, Stephen Julius 5 31/12/2014 30 972 32


Common Shares ESPP Glass, Kevin A. 5 31/12/2014 30 389 111


Common Shares ESPP Patterson, Kevin Joesph Robert

5 31/12/2014 30 7,488 156


Common Shares ESPP Williamson, J. David 5 31/12/2014 30 1,349 153


Rights DSU Williamson, J. David 5 31/12/2014 30 9,942 396

Canadian Natural Resources Limited

Common Shares Best, Catherine May 4 01/04/2015 46 39.38 24,228 1,000


Common Shares Cusson, Réal, Michel 5 02/04/2015 10 39.6 0 -1,300






DSU Faithfull, Timothy W. 4 01/04/2015 46 39.38 18,000 1,000


Common Shares Fichter, Darren 5 31/03/2015 51 28.06 40,189 1,000


Common Shares Fichter, Darren 5 31/03/2015 10 38.76 39,189 -1,000


Options Fichter, Darren 5 31/03/2015 51 28.06 278,000 -1,000


DSU Filmon, Gary 4 01/04/2015 46 39.38 24,010 1,000


Common Shares Fong, Christopher Lee 4 01/04/2015 46 39.38 18,000 1,000


Common Shares Giffin, Gordon D. 4 01/04/2015 46 39.38 49,856 1,000


Common Shares Gobert, Wilfred Arthur 4 01/04/2015 46 39.38 18,000 1,000


Common Shares Jocksch, Terry James 5 31/03/2015 51 28.74 174,809 10,000


Common Shares Jocksch, Terry James 5 31/03/2015 10 38.84 164,809 -10,000


Options Jocksch, Terry James 5 31/03/2015 51 28.74 575,000 -10,000


Common Shares MacPhail, Keith A.J. 4 01/04/2015 46 39.38 192,619 1,000


DSU McKenna, Frank 4 01/04/2015 46 39.38 24,010 1,000


Rights DSU Smith, Eldon 4 01/04/2015 46 18,000 1,000


Common Shares Tuer, David 4 01/04/2015 46 39.38 69,508 1,000


Common Shares Verschuren, Annette Marie 4 01/04/2015 46 39.38 2,000 1,000

Canadian Pacific Railway Limited

Common Shares Browning, Thompson 5 31/12/2014 30 200.12 120 37

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3458



Acquired/ Disposed


Common Shares 401K Browning, Thompson 5 20/02/2014 00


Common Shares 401K Browning, Thompson 5 31/12/2014 30 191.84 9 9


Rights PSU Browning, Thompson 5 31/12/2014 30 202.24 754 4


Rights RSU Browning, Thompson 5 31/12/2014 30 217.94 1,204 4


Rights DSU Colter, Gary F. 4 31/03/2015 56 234.36 6,032 421


Rights DSU Courville, Isabelle 4 31/03/2015 56 234.36 3,055 283


Common Shares Creel, Keith E. 5 31/12/2014 30 205.73 787 420


Common Shares 401K Creel, Keith E. 5 05/02/2013 00


Common Shares 401K Creel, Keith E. 5 31/12/2014 30 196.11 41 41


Rights DSU Creel, Keith E. 5 31/12/2014 30 185.6 30,410 231


Rights PSU Creel, Keith E. 5 31/12/2014 30 194.1 50,477 376


Common Shares Demosky, Barton Wade 5 28/12/2013 00


Common Shares Demosky, Barton Wade 5 31/12/2014 30 202.96 230 230


Rights DSU Demosky, Barton Wade 5 31/12/2014 30 197.05 5,511 30


Rights PSU Demosky, Barton Wade 5 31/12/2014 30 202.24 24,656 129


Rights DSU Haggis, Paul 4 31/03/2015 56 234.36 7,483 125


Rights DSU Hoeg, Krystyna 4 31/03/2015 56 234.36 22,741 283


Common Shares Kampsen, Jeffrey David 5 05/12/2011 00


Common Shares Kampsen, Jeffrey David 5 31/12/2014 30 213.2 24 24


Rights DSU Kampsen, Jeffrey David 5 31/12/2014 30 188.61 720 5


Rights PSU Kampsen, Jeffrey David 5 31/12/2014 30 194.1 2,747 19


Common Shares Lambrecht, Thomas John 5 14/11/2013 00


Common Shares Lambrecht, Thomas John 5 31/12/2014 30 205.4 62 62


Rights DSU Lambrecht, Thomas John 5 31/12/2014 30 188.61 1,569 12


Rights PSU Lambrecht, Thomas John 5 31/12/2014 30 195.85 2,195 15


Rights RSU Lambrecht, Thomas John 5 31/12/2014 30 217.94 1,204 4


Rights DSU MACDONALD, REBECCA 4 31/03/2015 56 234.36 5,307 251


Common Shares Marquis, Tony 5 15/07/2013 00


Common Shares Marquis, Tony 5 31/12/2014 30 221.75 63 63


Rights DSU Marquis, Tony 5 31/12/2014 30 188.61 956 7


Rights PSU Marquis, Tony 5 31/12/2014 30 202.24 1,438 8


Rights RSU Marquis, Tony 5 31/12/2014 30 217.94 2,408 8


Rights DSU Melman, Dr. Anthony Ronald

4 31/03/2015 56 234.36 5,479 268

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3459



Acquired/ Disposed


Rights DSU Morgan, Linda 4 31/03/2015 56 186.13 26,703 316


Rights DSU Reardon, Andrew Fitzpatrick 4 31/03/2015 56 186.13 3,211 334


Rights DSU Tobias, Stephen Craig 4, 5 31/03/2015 56 186.13 9,806 356


Common Shares Yaworsky, Darren Julian 5 18/03/2014 00


Common Shares Yaworsky, Darren Julian 5 31/12/2014 30 212.07 108 108


Rights DSU Yaworsky, Darren Julian 5 31/12/2014 30 197.05 832 4


Rights PSU Yaworsky, Darren Julian 5 31/12/2014 30 202.24 844 4


Rights RSU Yaworsky, Darren Julian 5 31/12/2014 30 217.94 316 1

Canadian Real Estate Investment Trust

Units Real Estate Investment Trust Units

Barrafato, Mario 5 30/03/2015 00



Barrafato, Mario 5 30/03/2015 10 46.33 16,188 16,188



Diamond, Rael Lee 5 30/03/2015 11 46.11 40,042 8,632



Diamond, Rael Lee 5 30/03/2015 11 46.11 9,766 -8,632



Johnson, Stephen Edward 5 30/03/2015 11 46.11 75,000 13,351



Johnson, Stephen Edward 5 30/03/2015 11 46.11 445,523 -13,351

Canadian Tire Corporation, Limited

Deferred Share Units Boivin, Pierre 4 31/03/2015 56 129.77 1,350 159


Non-Voting Shares Class A


1 30/03/2015 38 131.01 20,000 20,000




1 30/03/2015 38 131.01 0 -20,000




1 31/03/2015 38 129.54 20,000 20,000




1 31/03/2015 38 129.54 0 -20,000




1 01/04/2015 38 130.16 20,000 20,000




1 01/04/2015 38 130.16 0 -20,000




1 02/04/2015 38 132.6 20,000 20,000




1 02/04/2015 38 132.6 0 -20,000


Performance Share Units Collver, Robyn Anne 3, 7, 5 02/04/2015 59 5,327 -2,102


Performance Share Units Drysdale, Linda Janet 7 02/04/2015 59 1,944 -706


Deferred Share Units Fulton, Duncan Stanley Allpress

5 02/11/2009 00


Deferred Share Units Fulton, Duncan Stanley Allpress

5 02/04/2015 56 128.1 507 507


Performance Share Units Fulton, Duncan Stanley Allpress

5 02/04/2015 59 4,983 -1,678


Deferred Share Units Furlong, John Aloysius Francis

4 31/03/2015 56 129.77 3,699 192


Deferred Share Units L'Heureux, Claude R. 4 31/03/2015 56 129.77 7,720 370


Deferred Share Units Lampe, Jonathan 4 31/03/2015 56 129.77 2,623 205


Deferred Share Units MacDonald, Allan Angus 5 02/04/2015 56 128.1 5,699 2,017


Performance Share Units MacDonald, Allan Angus 5 02/04/2015 59 11,254 -1,766

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3460



Acquired/ Disposed


Performance Share Units McCann, Dean Charles 7, 5 02/04/2015 59 12,800 -4,756


Performance Share Units McKinnon, Chad Michael 7, 5 02/04/2015 59 7,623 -2,041


Performance Share Units Medline, Michael Bennett 7, 5 02/04/2015 59 23,014 -5,507


Performance Share Units Mongeau, Robert 7 02/04/2015 59 3,727 -942


Performance Share Units Nathanson, Douglas Bigler 5 02/04/2015 59 4,983 -1,835


Deferred Share Units Price, Timothy Robert 4 31/03/2015 56 129.77 14,618 231


Performance Share Units Roman, Eugene O. 5 02/04/2015 59 6,265 -2,090


Performance Share Units Salt, John Douglas 5 02/04/2015 59 4,794 -2,002


Deferred Share Units Savage, Graham William 4, 7 31/03/2015 59 129.77 116


Deferred Share Units Savage, Graham William 4, 7 31/03/2015 59 129.77 116


Deferred Share Units Savage, Graham William 4, 7 31/03/2015 56 129.77 8,913 116


Options Turner, Mary Louise 7, 5 31/03/2015 59 29,800 -11,507


Performance Share Units Turner, Mary Louise 7, 5 02/04/2015 59 8,462 -2,871


Deferred Share Units Vallance, George Alexander 4 31/03/2015 56 129.77 8,320 393


Performance Share Units White, Richard Jay (Rick) 7, 5 02/04/2015 59 10,525 -2,829

Canadian Western Bank Common Shares Bibby, Andrew John 4 27/03/2015 10 28.1 2,500 100


Canadian Western Bank Common Shares Bibby, Andrew John 4 27/03/2015 10 28.08 4,600 1,800



Canadian Western Bank Common Shares Bibby, Andrew John 4 03/12/2012 00


Canadian Western Bank Options Garvey, Randell William 5 13/03/2015 50 168,419 34,231

Canadian Western Bank Common Shares Jones, Darrell Robert 5 31/12/2014 30 38.54 7,543 1,042

Canadian Western Bank Common Shares Jones, Darrell Robert 5 31/12/2014 30 36.072 7,689 146

Canadian Western Bank Options Jones, Darrell Robert 5 13/06/2014 50 79,908 12,944

Canadian Western Bank Rights Performance Share Units

Jones, Darrell Robert 5 12/12/2014 56 3,448 2,473

Canadian Western Bank Rights Restricted Share Units

Jones, Darrell Robert 5 10/06/2014 59 6,437 -1,086


Jones, Darrell Robert 5 13/06/2014 56 7,261 824









Canadian Western Bank Common Shares Morrison, Peter Kenneth 5 26/03/2015 35 27.7 202 1

Canadian Western Bank Common Shares Morrison, Peter Kenneth 5 26/03/2015 35 27.7 202 1

Canadian Western Bank Options Pundyk, Thomas Edward 7 13/03/2015 50 88,353 39,080

Canadian Western Bank Common Shares Young, Brian 5 31/12/2014 30 38.54 61,444 1,230

Canadian Western Bank Options Young, Brian 5 13/06/2014 50 150,619 20,142

Canadian Western Bank Rights Performance Share Units

Young, Brian 5 12/12/2014 56 6,378 4,558


Young, Brian 5 10/06/2014 59 7,873 -1,328

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3461



Acquired/ Disposed


Young, Brian 5 13/06/2014 56 8,738 865


Young, Brian 5 13/06/2014 56 9,604 866


Young, Brian 5 13/06/2014 56 10,470 866


Young, Brian 5 14/06/2014 59 8,919 -1,551


Young, Brian 5 15/06/2014 59 7,310 -1,609

Canarc Resource Corp. Common Shares Bried, Bruce Eugene 5 11/03/2011 51 0.1 540,000 40,000

Canarc Resource Corp. Common Shares Bried, Bruce Eugene 5 02/04/2015 10 0.035 1,354,426 34,000

Canarc Resource Corp. Options Bried, Bruce Eugene 5 08/03/2011 51 0.1 310,000 -40,000

Canarc Resource Corp. Options Bried, Bruce Eugene 5 11/03/2011 51 0.1 40,000

Canarc Resource Corp. Options Bried, Bruce Eugene 5 11/03/2011 51 0.1 40,000

CanAsia Financial Inc. Common Shares BURSTALL, V.E. DALE 4 25/03/2015 00 50,000

Canfor Corporation Common Shares Canfor Corporation 1 30/03/2015 10 26.017 1,045,200 40,000

Canfor Corporation Common Shares Canfor Corporation 1 31/03/2015 10 25.171 1,095,200 50,000

Canfor Corporation Common Shares Canfor Corporation 1 31/03/2015 38 130,000 -965,200

Canfor Corporation Common Shares Canfor Corporation 1 01/04/2015 10 25.006 180,000 50,000

Canfor Corporation Common Shares Canfor Corporation 1 02/04/2015 10 24.837 240,000 60,000

Canfor Pulp Products Inc. Common Shares Canfor Pulp Products Inc. 3 30/03/2015 10 14.249 478,819 351,291

Canfor Pulp Products Inc. Common Shares Canfor Pulp Products Inc. 3 31/03/2015 10 14.498 489,710 10,891

Canfor Pulp Products Inc. Common Shares Canfor Pulp Products Inc. 3 31/03/2015 38 373,073 -116,637

Canstar Resources Inc. Options Deluce, William 4 22/03/2015 52 450,000 -133,333

Canstar Resources Inc. Options Hurley, John Ernest 4 22/03/2015 52 900,000 -200,000

Canstar Resources Inc. Options Reid, Thomas Patrick 4 22/03/2015 52 650,000 -83,333

Capital Power Corporation Common Shares Cruickshank, Richard Herbert

4 01/04/2015 10 24.1 2,200 1,200


4 01/04/2015 10 24.11 3,100 900


4 01/04/2015 10 24.16 3,800 700


4 01/04/2015 10 24.17 4,000 200


4 02/04/2015 10 24.15 4,100 100


4 02/04/2015 10 24.18 5,800 1,700


4 02/04/2015 10 24.19 6,000 200

Capital Power Corporation Common Shares EPCOR Utilities Inc. 3 02/04/2015 36 18,841,000 18,841,000

Capital Power Corporation Common Shares EPCOR Utilities Inc. 3 02/04/2015 15 23.85 9,391,000 -9,450,000

Capital Power Corporation Exchangeable Common LP Units of Capital Power LP

EPCOR Utilities Inc. 3 17/12/2010 36 -875,000




EPCOR Utilities Inc. 3 02/04/2015 36 0 -18,841,000

Capital Power Corporation Special Voting Shares EPCOR Utilities Inc. 3 02/04/2015 38 0.0001 0 -18,841,000

Capital Power Corporation Common Shares LOWRY, Donald James 4 30/03/2015 10 23.85 8,000 4,000

Capital Power Corporation Common Shares TRUFYN, DARCY 5 31/12/2014 30 25.54 16,824 1,547

Capital Power Corporation Common Shares TRUFYN, DARCY 5 31/12/2014 30 23.787 17,363 539

Capital Power Corporation Common Shares TRUFYN, DARCY 5 31/12/2014 30 25.616 17,412 49

Capital Power L.P. Exchangeable Limited Partnership Units





EPCOR Utilities Inc. 3 02/04/2015 36 0 -18,841,000

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3462



Acquired/ Disposed

Capstone Infrastructure Corporation

Deferred Share Units Knowles, Richard Lee 4 01/04/2015 30 3.3255 10,739 193


Deferred Share Units Knowles, Richard Lee 4 01/04/2015 30 3.6028 12,473 1,734


Deferred Share Units Mornhed, Goran 4 01/04/2015 30 3.3255 12,494 287


Deferred Share Units Mornhed, Goran 4 01/04/2015 30 3.6028 14,228 1,734


Deferred Share Units Patava, Jerry 4 01/04/2015 30 3.3255 14,083 287


Deferred Share Units Patava, Jerry 4 01/04/2015 30 3.6028 15,817 1,734


Deferred Share Units Roy, François R. 4 01/04/2015 30 3.3255 19,169 401


Deferred Share Units Roy, François R. 4 01/04/2015 30 3.6028 20,903 1,734


Common Shares Sardo, Vincent James 4 30/03/2015 10 3.512 42,500 7,500


Common Shares Sardo, Vincent James 4 30/03/2015 10 3.52 50,000 7,500


Deferred Share Units Sardo, Vincent James 4 01/04/2015 30 3.3255 33,243 688


Deferred Share Units Sardo, Vincent James 4 01/04/2015 30 3.6028 36,712 3,469


Deferred Share Units Woodruff, Janet Patricia 4 01/04/2015 30 3.3255 10,739 193


Deferred Share Units Woodruff, Janet Patricia 4 01/04/2015 30 3.6028 12,473 1,734

Cardinal Energy Ltd. Common Shares Kolochuk, Craig 5 25/03/2015 10 15.11 309,318 -7,490

Cardiome Pharma Corp. Options Archibald, Jennifer 5 26/03/2015 50 10.35 123,660 32,700

Cardiome Pharma Corp. Units Restricted Share Units

Archibald, Jennifer 5 20/09/2012 00


Archibald, Jennifer 5 26/03/2015 56 10.35 9,714 9,714

Cardiome Pharma Corp. Common Shares Grant, Sheila 5 25/03/2015 10 10.9 2,180 -3,900

Cardiome Pharma Corp. Common Shares Grant, Sheila 5 27/03/2015 10 10.64 780 -1,400

Cardiome Pharma Corp. Options Grant, Sheila 5 26/03/2015 50 10.35 122,700 32,700


Grant, Sheila 5 26/03/2013 00


Grant, Sheila 5 26/03/2015 56 10.35 9,714 9,714

Cardiome Pharma Corp. Options Hunter, William L. 4, 5 26/03/2015 56 10.35 636,000 130,000


Hunter, William L. 4, 5 11/06/2007 00


Hunter, William L. 4, 5 26/03/2015 56 10.35 39,306 39,306

Cardiome Pharma Corp. Options McMasters, David D. 5 26/03/2015 50 10.35 99,700 32,700


McMasters, David D. 5 01/11/2012 00


McMasters, David D. 5 26/03/2015 56 10.35 9,714 9,714

Cardiome Pharma Corp. Options Sachot, Hugues 5 26/03/2015 50 10.35 97,700 32,700


Sachot, Hugues 5 20/11/2013 00


Sachot, Hugues 5 26/03/2015 56 10.35 9,714 9,714

Cargojet Inc. Rights Restricted Share Units

Godfrey, Paul Victor 4 01/01/2011 00


Godfrey, Paul Victor 4 30/03/2015 56 26.968 1,112 1,112


Webster, John Philip 4 01/01/2011 00


Webster, John Philip 4 30/03/2015 56 26.968 1,112 1,112

Carmanah Technologies Corporation

Common Shares Berrang, Peter Gottfried 4 12/08/2014 37 32,417 -284,810

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3463



Acquired/ Disposed


Common Shares Berrang, Peter Gottfried 4 12/08/2014 37 217,309 -1,255,781


Common Shares Berrang, Peter Gottfried 4 12/08/2014 37 41,019 -369,177


Common Shares Holland, Terence Michael 4 14/08/2014 37 467,900 -4,211,100

Cathedral Energy Services Ltd.

Common Shares Picioreanu, Bogdan Alexandru

8 31/03/2015 00



8 31/03/2015 00 43,121



8 31/03/2015 00 32,082


Common Shares Held in RESP

Picioreanu, Bogdan Alexandru

8 31/03/2015 00 2,525


Common Shares Held in RRSP


8 31/03/2015 00 35,438


Common Shares Held in TFSA


8 31/03/2015 00 8,945


Options Picioreanu, Bogdan Alexandru

8 31/03/2015 00 53,000

Caza Gold Corp. Common Shares Montecinos, Marco 5 30/04/2012 00 432,658

Caza Gold Corp. Common Shares Montecinos, Marco 5 01/04/2015 45 3,403,503 71,125

Caza Gold Corp. Common Shares Montecinos, Marco 5 30/04/2012 00



Caza Gold Corp. Common Shares Montecinos, Marco 5 03/02/2014 45 0.075 75,720

Caza Gold Corp. Common Shares Montecinos, Marco 5 12/01/2015 45 0.05 2,824,000

Caza Gold Corp. Common Shares Montecinos, Marco 5 03/02/2014 45 0.075 508,378 75,720

Caza Gold Corp. Common Shares Montecinos, Marco 5 12/01/2015 45 0.05 3,332,378 2,824,000

CCL Industries Inc. Rights Deferred Share Units

Block, Paul J. 4 31/03/2015 56 143.76 14,810 39


Guillet, Edward 4 31/03/2015 56 143.76 12,921 34


Horn, Alan Douglas 4 31/03/2015 56 143.76 18,784 49


Keller-Hobson, Kathleen 4 31/03/2015 56 143.76 207 1


Lang, Stuart W. 4 31/03/2015 56 143.76 5,486 15


Muzyka, Douglas W. 4 31/03/2015 56 143.76 17,737 47


Peddie, Tom 4 31/03/2015 56 143.76 29,987 78


Shapansky, Mandy 4 31/03/2015 56 143.76 802 2

CCL Industries Inc. Non-Voting Shares Class B

Vecchiarelli, Nicolangelo 5 30/03/2015 51 87.17 750 750

CCL Industries Inc. Options Vecchiarelli, Nicolangelo 5 30/03/2015 51 87.17 7,250 -750

Celestica Inc. Deferred Share Units DiMaggio, Dan 4 31/03/2015 56 11.11 126,508 3,994

Celestica Inc. Deferred Share Units Etherington, William 4 31/03/2015 56 11.11 300,824 7,876

Celestica Inc. Deferred Share Units Koellner, Laurette 4 31/03/2015 56 11.11 147,685 4,331

Celestica Inc. Subordinate Voting Shares

Muhlhauser, Craig 4, 5 01/04/2015 10 10.971 554,758 -22,916

Celestica Inc. Deferred Share Units Natale, Joe 4 31/03/2015 56 11.11 97,897 5,513

Celestica Inc. Deferred Share Units Perry, Carol Susan 4 31/03/2015 56 11.11 46,472 5,288

Celestica Inc. Deferred Share Units Ryan, Eamon 4 31/03/2015 56 11.11 197,292 5,738

Celestica Inc. Deferred Share Units Wilson, Michael M. 4 31/03/2015 56 11.11 109,579 5,850

Centerra Gold Inc. Performance Share Units Atkinson, Ian 5 19/03/2015 56 412,991 2,561

Centerra Gold Inc. Performance Share Units Burk, Ron 5 19/03/2015 56 84,460 523

Centerra Gold Inc. Rights Restricted Share Units

Connor, Richard Webster 4 05/06/2012 00


Connor, Richard Webster 4 31/03/2015 56 6.44 3,493 3,493

Centerra Gold Inc. Performance Share Units Desjardins, Daniel Richard 7 19/03/2015 56 21,755 134

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3464



Acquired/ Disposed


Girard, Raphael Arthur 4 31/03/2015 56 6.44 85,349 5,434

Centerra Gold Inc. Performance Share Units Herbert, Frank Hamilton 5 19/03/2015 56 202,515 1,255

Centerra Gold Inc. Performance Share Units Kwong, Dennis 5 19/03/2015 56 133,036 819


Lang, Stephen A. 5 31/03/2015 56 6.44 53,458 9,025

Centerra Gold Inc. Performance Share Units Meade, Anthony 5 19/03/2015 56 78,630 487

Centerra Gold Inc. Performance Share Units Millman, Darren 5 19/03/2015 56 42,167 261


Orozbaev, Emilbek Musinovich

4 31/03/2015 56 6.44 3,493 3,493


Orozbaev, Emilbek Musinovich

4 31/03/2015 59 6.44 0 -3,493

Centerra Gold Inc. Performance Share Units Parr, Jeffrey Scott 5 19/03/2015 56 205,385 1,273


Parrett, Michael S. 4 31/03/2015 56 6.44 14,121 3,493

Centerra Gold Inc. Performance Share Units Pearson, John William 5 19/03/2015 56 44,520 275


Pressler, Sheryl 4 31/03/2015 56 6.44 3,521 3,493

Centerra Gold Inc. Performance Share Units Reid, Gordon Dunlop 7 19/03/2015 56 193,646 1,200

Centerra Gold Inc. Deferred Share Units Rogers, Terry Vernon 6 31/03/2015 56 6.44 55,787 706


Rogers, Terry Vernon 6 31/03/2015 56 6.44 2,826 2,826


Sadyrov, Kalinur Alymbekovich

4 31/03/2015 56 6.44 3,493 3,493


Sadyrov, Kalinur Alymbekovich

4 31/03/2015 59 6.44 0 -3,493


Shakirov, Kylychbek 4 31/03/2015 56 6.44 3,493 3,493


Shakirov, Kylychbek 4 31/03/2015 59 6.44 0 -3,493

Centerra Gold Inc. Deferred Share Units Walter, Bruce V. 4 31/03/2015 56 6.44 60,961 2,911

Centric Health Corporation (formerly Alegro Health Corp.)

Common Shares Gattinger, Craig 3, 4, 7 30/03/2015 10 0.4 2,281,267 70,500















Changfeng Energy Inc. Common Shares Ding, Yongbiao 4 10/03/2015 00 696,000

Chartwell Retirement Residences

Deferred Units Bastarache, Lise 4 31/03/2015 46 12.343 49,213 2,108


Rights Restricted Trust Units

Binions, W. Brent 4, 5 31/03/2015 30 12.345 105,327 573



Boulakia, Jonathan 5 31/03/2015 30 12.345 27,580 175



Chateauvert, Sheri Lynn 5 31/03/2015 30 12.345 29,314 188


Deferred Units Harris, Michael Deane 4 31/03/2015 46 12.343 186,729 6,839

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3465



Acquired/ Disposed


Deferred Units Kuzmicki, Andre 7 31/03/2015 46 12.343 108,258 4,583


Deferred Units Robinson, Sidney P H 4 31/03/2015 46 12.343 142,469 5,195


Deferred Units Sallows, Sharon 4 31/03/2015 46 12.343 69,551 4,143


Deferred Units Schwartz, Thomas 4 31/03/2015 46 12.343 122,207 4,474


Trust Units Schwartz, Thomas 4 17/02/2015 30 12.266 21,756 33


Trust Units Schwartz, Thomas 4 17/02/2015 30 12.266 17


Trust Units Schwartz, Thomas 4 17/02/2015 30 12.266 17









Sullivan, Karen Leslie 5 31/03/2015 30 12.345 35,635 243


Deferred Units Thomas, John Huw 4 31/03/2015 46 12.343 44,433 3,650



Volodarski, Vlad 5 31/03/2015 30 12.345 37,554 260

CHC Student Housing Corp. Options Forbes, Louis Marie 4 31/03/2015 38 0 -600,000

CHC Student Housing Corp. Options Gillin, Philip Charles 4 31/03/2015 38 0 -600,000

CHC Student Housing Corp. Options Hansen, Mark Asbjorn 5 31/03/2015 38 1,031,250 -1,843,316

CHC Student Housing Corp. Options Pridham, Gordon E. 4 31/03/2015 38 0 -600,000

CHC Student Housing Corp. Options Schwarz, Ronald 4 31/03/2015 38 0 -600,000

CHC Student Housing Corp. Options Smith, Craig Gordon 4 31/03/2015 38 1,031,250 -600,000

CHC Student Housing Corp. Options Waxman, Robert 5 31/03/2015 38 687,500 -1,382,488

Chinook Energy Inc. Options Clark, Stuart George 4 19/03/2015 52 75,000 -25,000

Chinook Energy Inc. Options Cook, Robert 4 19/03/2015 51 75,000 -25,000

Chinook Energy Inc. Options Halpen, Timothy Sean 5 17/12/2014 52 662,500 -150,000

Chinook Energy Inc. Options Halpen, Timothy Sean 5 27/01/2015 52 707,500 -25,000

Chinook Energy Inc. Options Halpen, Timothy Sean 5 19/03/2015 52 -175,000

Chinook Energy Inc. Options Vrataric, Walter 5 19/03/2015 52 582,500 -200,000

Chinook Energy Inc. Options White, Ryan Craig 5 19/03/2015 52 453,750 -175,000

Chinook Energy Inc. Options Zacharias, Darrel Grant 5 19/03/2015 52 477,500 -150,000

Choice Properties Real Estate Investment Trust

Rights Deferred Units Adams, Kerry Dawn 4 01/04/2015 56 17,045 2,151


Rights Deferred Units Felman, Michelle 4 01/04/2015 56 20,936 2,391


Rights Deferred Units Kitt, Michael 4 01/04/2015 56 23,348 2,847


Rights Deferred Units Sullivan, Daniel Francis 4 01/04/2015 56 12,913 1,630


Rights Deferred Units Weiss, Paul Raymond 4 01/04/2015 56 15,228 1,087


Rights Deferred Units Weston, Willard Galen Garfield

4, 6 01/04/2015 56 24,209 2,956

Chorus Aviation Inc. Class B Voting Shares Snowdon, Barbara 5 27/03/2015 10 5.8641 17,348 -15,000

CI Financial Corp. Common Shares Blair, Lorraine P. 7 01/04/2015 51 35.03 27,727 2,079

CI Financial Corp. Options Blair, Lorraine P. 7 01/04/2015 51 21.98 40,000 -3,334

CI Financial Corp. Options Blair, Lorraine P. 7 01/04/2015 51 27.03 33,334 -6,666

Co-operators General Insurance Company

Preferred Shares Class A Series B

Daniel, Kevin 7 01/04/2015 30 100 895 1



Hanna, Paul 7 01/04/2015 30 100 463 1



McCombie, Richard Allen 7 01/04/2015 30 100 2,146 4

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3466



Acquired/ Disposed

Codrington Resource Corporation

Common Shares hobkirk, adrian frederick 4, 5 31/03/2015 10 0.06 1,869,722 5,000

Cogeco Cable Inc. Subordinate Voting Shares actions subalternes à droit de vote

Audet, Louis 4, 5 31/12/2014 35 60 51,422 130


Guimond, René 5 31/12/2014 35 60 29


Guimond, René 5 31/12/2014 35 60 1,606 29


Jetté, Philippe 5 31/12/2014 30 60 261 261


Jetté, Philippe 5 31/12/2014 35 56 264 3


Jetté, Philippe 5 31/12/2014 35 62 270 6


Jolivet, Christian 5 31/12/2014 35 60 1,142 1


Maheux, Pierre 5 31/12/2014 30 60 1,102 280


Maheux, Pierre 5 31/12/2014 35 62 1,106 4


Maheux, Pierre 5 31/12/2014 35 53 1,109 3


Pinard, Andrée 5 31/12/2014 30 59 105 105


Pinard, Andrée 5 31/12/2014 35 63 106 1


Tessier, Alex 5 31/12/2014 35 60 103 1


Tessier, Alex 5 31/12/2014 35 60 104 1

Cogeco Inc Subordinate Voting Shares actions subalternes à droit de vote

Audet, Louis 4, 5 31/12/2011 35 44 68,225 462


Audet, Louis 4, 5 31/12/2012 35 39 77,903 697


Audet, Louis 4, 5 31/12/2013 35 44 85,743 669


Audet, Louis 4, 5 31/12/2014 35 56 92,273 977


Guimond, René 5 31/12/2014 35 56 21


Guimond, René 5 31/12/2014 35 56 1,838 21


Guimond, René 5 31/12/2014 35 56 1,851 13


Pinard, Andrée 5 31/12/2014 30 55 113 113


Pinard, Andrée 5 31/12/2014 35 58 114 1

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3467



Acquired/ Disposed


Tessier, Alex 5 31/12/2014 35 56 4 1

Colabor Group Inc. Common Shares Brunelle, Gaétan 4 11/03/2015 00

Colabor Group Inc. Common Shares Brunelle, Gaétan 4 11/03/2015 00 22,850

Colonial Coal International Corp.

Common Shares Austin, Douglas David 4, 5 31/03/2015 36 19,101,700 8,950,000


Common Shares Filtness, William Donald 5 07/10/2010 00


Common Shares Filtness, William Donald 5 31/03/2015 36 100,000 100,000


Common Shares Hammond, Anthony 4 07/10/2010 00


Common Shares Hammond, Anthony 4 31/03/2015 36 250,000 250,000


Common Shares Perry, John 4, 5 31/03/2015 36 7,750,000 3,750,000

Colorado Resources Ltd. Common Shares Travis, Adam Robert 4, 5 30/03/2015 10 0.11 4,181,834 10,000

Colorado Resources Ltd. Common Shares Travis, Adam Robert 4, 5 30/03/2015 10 0.12 4,191,834 10,000

COM DEV International Ltd. Performance Share Units Adamson, James 4 31/03/2015 56 5,440 14



COM DEV International Ltd. Restricted Share Units Adamson, James 4 31/03/2015 56 10,236 31



COM DEV International Ltd. Rights Deferred Share Units

Adamson, James 4 31/03/2015 56 10,992 77

COM DEV International Ltd. Performance Share Units Anthony, G.F. Kym 4 31/03/2015 56 5,440 14



COM DEV International Ltd. Restricted Share Units Anthony, G.F. Kym 4 31/03/2015 56 12,638 22




Anthony, G.F. Kym 4 31/03/2015 56 10,992 77

COM DEV International Ltd. Restricted Share Units Armour, Debra Jean 5 31/03/2015 56 4,057 29

COM DEV International Ltd. Performance Share Units BONDAR, ROBERTA LYNN 4 31/03/2015 56 5,440 14



COM DEV International Ltd. Restricted Share Units BONDAR, ROBERTA LYNN 4 31/03/2015 56 4,486 2




BONDAR, ROBERTA LYNN 4 31/03/2015 56 10,992 77

COM DEV International Ltd. Performance Share Units Calhoun, Gary 5 31/03/2015 56 28,419 84



COM DEV International Ltd. Restricted Share Units Calhoun, Gary 5 31/03/2015 56 12,890 90

COM DEV International Ltd. Performance Share Units Clark, Bruce 2 31/03/2015 56 11,064 33



COM DEV International Ltd. Restricted Share Units Clark, Bruce 2 31/03/2015 56 11,064 33



COM DEV International Ltd. Performance Share Units Csizmar, Andrew 5 31/03/2015 56 5,463 20

COM DEV International Ltd. Performance Share Units Csizmar, Andrew 5 31/03/2015 56 5,481 18

COM DEV International Ltd. Restricted Share Units Csizmar, Andrew 5 31/03/2015 56 10,499 35



COM DEV International Ltd. Performance Share Units D'Cruze, Christopher Wlfred 2 31/03/2015 56 7,599 21


Insider Reporting

April 9, 2015

(2015), 38 OSCB 3468



Acquired/ Disposed


COM DEV International Ltd. Restricted Share Units D'Cruze, Christopher Wlfred 2 31/03/2015 56 7,599 21



COM DEV International Ltd. Restricted Share Units Dokas, Janine Lynne 5 31/03/2015 56 3,758 26

COM DEV International Ltd. Performance Share Units Doran, Nigel Neil 2 31/03/2015 56 14,290 42



COM DEV International Ltd. Restricted Share Units Doran, Nigel Neil 2 31/03/2015 56 14,290 42



COM DEV International Ltd. Performance Share Units Dyck, Paul Michael 4 31/03/2015 56 14,309 42



COM DEV International Ltd. Restricted Share Units Dyck, Paul Michael 4 31/03/2015 56 14,309 42



COM DEV International Ltd. Performance Share Units Dykstra, Kelly 2 31/03/2015 56 9,263 26



COM DEV International Ltd. Restricted Share Units Dykstra, Kelly 2 31/03/2015 56 9,263 26



COM DEV International Ltd. Performance Share Units Falby, Laura Marion 5 31/03/2015 56 3,535 25

COM DEV International Ltd. Restricted Share Units Falby, Laura Marion 5 31/03/2015 56 3,535 25

COM DEV International Ltd. Performance Share Units Fox, Wayne Charles 4 31/03/2015 56 1,391 10

COM DEV International Ltd. Restricted Share Units Fox, Wayne Charles 4 31/03/2015 56 2,224 16


Fox, Wayne Charles 4 31/03/2015 56 24,010 150

COM DEV International Ltd. Performance Share Units Friesen, Kenneth Allan 5 31/03/2015 56 6,257 21

COM DEV International Ltd. Performance Share Units Friesen, Kenneth Allan 5 31/03/2015 56 6,280 23

COM DEV International Ltd. Restricted Share Units Friesen, Kenneth Allan 5 31/03/2015 56 11,064 34



COM DEV International Ltd. Restricted Share Units Gawaziuk, Robert John 5 31/03/2015 56 3,439 24

COM DEV International Ltd. Performance Share Units Goldsmith, Robert Kenneth 2 31/03/2015 56 8,840 26



COM DEV International Ltd. Restricted Share Units Goldsmith, Robert Kenneth 2 31/03/2015 56 8,840 26



COM DEV International Ltd. Restricted Share Units Hanlon, Lauren Christine 2 31/03/2015 56 5,489 16

COM DEV International Ltd. Restricted Share Units Hanlon, Lauren Christine 2 31/03/2015 56 5,511 22

COM DEV International Ltd. Performance Share Units HEALY, GREGORY 2 31/03/2015 56 13,189 39



COM DEV International Ltd. Restricted Share Units HEALY, GREGORY 2 31/03/2015 56 13,189 39



COM DEV International Ltd. Performance Share Units Inker, Craig 2 31/03/2015 56 17,861 53



COM DEV International Ltd. Restricted Share Units Inker, Craig 2 31/03/2015 56 6,419 53



COM DEV International Ltd. Performance Share Units Kamboj, Avjit 5 31/03/2015 56 5,724 40

COM DEV International Ltd. Restricted Share Units Kamboj, Avjit 5 31/03/2015 56 5,724 40

COM DEV International Ltd. Performance Share Units KANE, JOSEPH 2 31/03/2015 56 27,450 63

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3469



Acquired/ Disposed




COM DEV International Ltd. Restricted Share Units KANE, JOSEPH 2 31/03/2015 56 27,450 63




COM DEV International Ltd. Performance Share Units Long, Anthony 2 31/03/2015 56 4,452 16

COM DEV International Ltd. Performance Share Units Long, Anthony 2 31/03/2015 56 4,467 15

COM DEV International Ltd. Restricted Share Units Long, Anthony 2 31/03/2015 56 7,573 22



COM DEV International Ltd. Restricted Share Units MacKay, Brian James Angus

5 31/03/2015 56 13,449 40


5 31/03/2015 56 13,478 29


5 31/03/2015 56 13,504 26

COM DEV International Ltd. Performance Share Units Manternach, Peter James 2 31/03/2015 56 11,247 32



COM DEV International Ltd. Restricted Share Units Manternach, Peter James 2 31/03/2015 56 11,247 32



COM DEV International Ltd. Performance Share Units Masotti, David 4 31/03/2015 56 5,440 14



COM DEV International Ltd. Restricted Share Units Masotti, David 4 31/03/2015 56 11,711 14




Masotti, David 4 31/03/2015 56 14,004 98

COM DEV International Ltd. Performance Share Units Maybee, Sean 2 31/03/2015 56 6,040 42

COM DEV International Ltd. Restricted Share Units Maybee, Sean 2 31/03/2015 56 6,040 42

COM DEV International Ltd. Performance Share Units McCabe, David 2 31/03/2015 56 11,198 34



COM DEV International Ltd. Restricted Share Units McCabe, David 2 31/03/2015 56 11,198 34



COM DEV International Ltd. Performance Share Units McLaren, Colin Peter 2 31/03/2015 56 9,015 26



COM DEV International Ltd. Restricted Share Units McLaren, Colin Peter 2 31/03/2015 56 9,015 26



COM DEV International Ltd. Performance Share Units Mississian, Marina 2 31/03/2015 56 16,880 37



COM DEV International Ltd. Restricted Share Units Mississian, Marina 2 31/03/2015 56 16,880 37



COM DEV International Ltd. Performance Share Units Molford, Craig 2 31/03/2015 56 7,158 19



COM DEV International Ltd. Restricted Share Units Molford, Craig 2 31/03/2015 56 7,158 19



COM DEV International Ltd. Performance Share Units Monahan, Gregory Rush 4 31/03/2015 56 1,391 10

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3470



Acquired/ Disposed

COM DEV International Ltd. Restricted Share Units Monahan, Gregory Rush 4 31/03/2015 56 2,501 17


Monahan, Gregory Rush 4 31/03/2015 56 17,896 116

COM DEV International Ltd. Performance Share Units Newbold, Stephen Thomas 2 31/03/2015 56 3,977 11

COM DEV International Ltd. Performance Share Units Newbold, Stephen Thomas 2 31/03/2015 56 3,994 17

COM DEV International Ltd. Restricted Share Units Newbold, Stephen Thomas 2 31/03/2015 56 3,977 11

COM DEV International Ltd. Restricted Share Units Newbold, Stephen Thomas 2 31/03/2015 56 3,994 17

COM DEV International Ltd. Performance Share Units O'Donovan, Christopher 4 31/03/2015 56 10,304 14



COM DEV International Ltd. Restricted Share Units O'Donovan, Christopher 4 31/03/2015 56 3,976 8




O'Donovan, Christopher 4 31/03/2015 56 24,146 151

COM DEV International Ltd. Performance Share Units Papa, Anthony (Tony) 5 31/03/2015 56 910 6

COM DEV International Ltd. Restricted Share Units Papa, Anthony (Tony) 5 31/03/2015 56 910 6

COM DEV International Ltd. Performance Share Units Pley, Michael Everett 5 31/03/2015 56 63,041 188



COM DEV International Ltd. Restricted Share Units Pley, Michael Everett 5 31/03/2015 56 19,335 135

COM DEV International Ltd. Performance Share Units Reidel, Terry 4 31/03/2015 56 5,440 14



COM DEV International Ltd. Restricted Share Units Reidel, Terry 4 31/03/2015 56 10,812 25




Reidel, Terry 4 31/03/2015 56 22,429 138

COM DEV International Ltd. Performance Share Units Sgro, David Daniel 4 31/03/2015 56 1,391 10

COM DEV International Ltd. Restricted Share Units Sgro, David Daniel 4 31/03/2015 56 1,111 8


Sgro, David Daniel 4 31/03/2015 56 17,570 114

COM DEV International Ltd. Performance Share Units Smidt, Kathleen Cherri 7 31/03/2015 56 15,981 37



COM DEV International Ltd. Restricted Share Units Smidt, Kathleen Cherri 7 31/03/2015 56 15,981 37



COM DEV International Ltd. Performance Share Units Spurrett, Robert 2 31/03/2015 56 16,667 46



COM DEV International Ltd. Restricted Share Units Spurrett, Robert 2 31/03/2015 56 29,603 46



COM DEV International Ltd. Performance Share Units Stajcer, Tony 2 31/03/2015 56 13,550 40



COM DEV International Ltd. Restricted Share Units Stajcer, Tony 2 31/03/2015 56 13,550 40



COM DEV International Ltd. Performance Share Units Stuart, John 2 31/03/2015 56 15,198 35



COM DEV International Ltd. Restricted Share Units Stuart, John 2 31/03/2015 56 35,879 35




COM DEV International Ltd. Performance Share Units Watson, Colin D. 4 31/03/2015 56 1,391 10

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3471



Acquired/ Disposed

COM DEV International Ltd. Restricted Share Units Watson, Colin D. 4 31/03/2015 56 1,391 10


Watson, Colin D. 4 31/03/2015 56 24,274 152

COM DEV International Ltd. Performance Share Units White, Dan 2 31/03/2015 56 23,289 68



COM DEV International Ltd. Restricted Share Units White, Dan 2 31/03/2015 56 23,289 68



COM DEV International Ltd. Performance Share Units Williams, Michael Brian 2 31/03/2015 56 22,396 67



COM DEV International Ltd. Restricted Share Units Williams, Michael Brian 2 31/03/2015 56 27,516 67




COMPASS Income Fund Trust Units COMPASS Income Fund 1 27/03/2015 38 12.699 32,121,460 900

COMPASS Income Fund Trust Units COMPASS Income Fund 1 31/03/2015 38 12.63 32,121,760 300

Condor Petroleum Inc. Options Balderston, Dennis Blair 4 30/03/2015 50 875,000 75,000

Condor Petroleum Inc. Options Bogle, Edward Warren 4 30/03/2015 50 875,000 75,000

Condor Petroleum Inc. Options Burzynski, John Feliks 4 30/03/2015 50 0.16 875,000 75,000

Condor Petroleum Inc. Options Dawson, Walter Alfred 4 30/03/2015 50 875,000 75,000

Condor Petroleum Inc. Options Hatcher, William Bradley 5 30/03/2015 50 4,625,000 450,000

Condor Petroleum Inc. Options Kaltenbach, H.E. Stefan (Dr.)

4, 6 30/03/2015 50 875,000 75,000

Condor Petroleum Inc. Options Quilty, Stanley Martin 5 30/03/2015 50 4,625,000 450,000

Condor Petroleum Inc. Options Roosen, Sean 4 30/03/2015 50 0.16 875,000 75,000

Condor Petroleum Inc. Options Storm, Norman 6 30/03/2015 50 2,350,000 400,000

Condor Petroleum Inc. Options Streu, Donald James 4, 5 30/03/2015 50 4,920,000 500,000

Condor Petroleum Inc. Options Whittaker, Roger David 5 30/03/2015 50 3,775,000 400,000

Condor Petroleum Inc. Options Zoellner, Werner (Dr.) 5 30/03/2015 50 875,000 75,000

CONDOR RESOURCES INC.

Common Shares Davis, Lyle Roy 4 27/03/2015 11 0.05 402,500 100,000


Warrants Davis, Lyle Roy 4 27/03/2015 11 250,000 100,000


Common Shares Marquez Amado, Ever 5 27/03/2015 11 0.05 425,000 50,000


Warrants Marquez Amado, Ever 5 27/03/2015 11 0.05 50,000 50,000


Common Shares Scott, Graham Howard 4, 5 27/03/2015 53 0.05 400,000


Common Shares Scott, Graham Howard 4, 5 27/03/2015 53 0.05 400,000


Warrants Scott, Graham Howard 4, 5 27/03/2015 53 0.05 2,400,000 400,000

Constellation Software Inc. Common Shares Scotchmer, Steven 4 31/12/2014 30 262.55 4,823 299

Constellation Software Inc. Common Shares Scotchmer, Steven 4 31/12/2014 30 262.41 25,737 422

Copper Reef Mining Corporation

Common Shares Masson, Stephen Leo 3 30/03/2015 10 0.04 8,098,865 26,000

Copperbank Resources Corp.

Common Shares Kovacevic, John Gianni 4, 5 31/03/2015 10 0.05 6,158,000 150,000


Common Shares Kovacevic, John Gianni 4, 5 02/04/2015 10 0.05 6,308,000 150,000


Warrants Kovacevic, John Gianni 4, 5 31/03/2015 10 0.005 1,155,000 48,000

CR Capital Corp. (formerly Cogitore Resources Inc.)

Common Shares Howlett, Brian 5 26/03/2015 37 50,000 -450,000

CR Capital Corp. (formerly Cogitore Resources Inc.)

Options Howlett, Brian 5 26/03/2015 37 0.5 125,000 -1,125,000

Crescent Point Energy Corp. Common Shares Borggard, Bradley Harlan 5 01/04/2015 57 38,424 7,929

Crescent Point Energy Corp. Common Shares Borggard, Bradley Harlan 5 01/04/2015 97 35,331 -3,093

Crescent Point Energy Corp. Common Shares Borggard, Bradley Harlan 5 01/04/2015 10 28.36 34,131 -1,200

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3472



Acquired/ Disposed



Crescent Point Energy Corp. Restricted Share Units Borggard, Bradley Harlan 5 01/04/2015 56 83,087 28,912

Crescent Point Energy Corp. Restricted Share Units Borggard, Bradley Harlan 5 01/04/2015 57 75,158 -7,929

Crescent Point Energy Corp. Common Shares Christie, Derek Wayne 5 01/04/2015 57 209,683 20,618

Crescent Point Energy Corp. Common Shares Christie, Derek Wayne 5 01/04/2015 97 201,640 -8,043

Crescent Point Energy Corp. Restricted Share Units Christie, Derek Wayne 5 01/04/2015 56 28,912


Crescent Point Energy Corp. Restricted Share Units Christie, Derek Wayne 5 01/04/2015 57 -20,616

Crescent Point Energy Corp. Restricted Share Units Christie, Derek Wayne 5 01/04/2015 57 -20,616



Crescent Point Energy Corp. Restricted Share Units Christie, Derek Wayne 5 01/04/2015 56 127,350 45,467

Crescent Point Energy Corp. Restricted Share Units Christie, Derek Wayne 5 01/04/2015 57 106,732 -20,618

Crescent Point Energy Corp. Common Shares Gritzfeldt, Ryan Chad Raymond

5 01/04/2015 57 123,220 10,896

Crescent Point Energy Corp. Common Shares Gritzfeldt, Ryan Chad Raymond

5 01/04/2015 97 118,861 -4,359

Crescent Point Energy Corp. Restricted Share Units Gritzfeldt, Ryan Chad Raymond

5 01/04/2015 56 132,393 39,437

Crescent Point Energy Corp. Restricted Share Units Gritzfeldt, Ryan Chad Raymond

5 01/04/2015 57 121,497 -10,896

Crescent Point Energy Corp. Common Shares LAMONT, KENNETH 5 01/04/2015 57 159,675 12,810

Crescent Point Energy Corp. Common Shares LAMONT, KENNETH 5 01/04/2015 97 154,422 -5,253

Crescent Point Energy Corp. Restricted Share Units LAMONT, KENNETH 5 01/04/2015 56 141,308 46,364

Crescent Point Energy Corp. Restricted Share Units LAMONT, KENNETH 5 01/04/2015 57 128,498 -12,810

Crescent Point Energy Corp. Common Shares MacDonald, Tamara 5 01/04/2015 57 302,813 12,763

Crescent Point Energy Corp. Common Shares MacDonald, Tamara 5 01/04/2015 97 297,069 -5,744

Crescent Point Energy Corp. Restricted Share Units MacDonald, Tamara 5 01/04/2015 56 151,743 46,188

Crescent Point Energy Corp. Restricted Share Units MacDonald, Tamara 5 01/04/2015 57 138,980 -12,763

Crescent Point Energy Corp. Common Shares Saxberg, Scott 4 01/04/2015 57 511,781 10,660

Crescent Point Energy Corp. Common Shares Saxberg, Scott 4 01/04/2015 97 507,623 -4,158

Crescent Point Energy Corp. Common Shares Saxberg, Scott 4 01/04/2015 10 29.165 500,623 -7,000

Crescent Point Energy Corp. Common Shares Saxberg, Scott 4 01/04/2015 10 29.186 -7,000

Crescent Point Energy Corp. Common Shares Saxberg, Scott 4 01/04/2015 10 29.186 -7,000

Crescent Point Energy Corp. Common Shares Saxberg, Scott 4 01/04/2015 10 29.186 106,682 7,000

Crescent Point Energy Corp. Restricted Share Units Saxberg, Scott 4 01/04/2015 56 333,954 31,978

Crescent Point Energy Corp. Restricted Share Units Saxberg, Scott 4 01/04/2015 57 323,294 -10,660

Crescent Point Energy Corp. Common Shares Smith, Clifford Neil 5 01/04/2015 57 341,955 14,870

Crescent Point Energy Corp. Common Shares Smith, Clifford Neil 5 01/04/2015 97 335,709 -6,246

Crescent Point Energy Corp. Restricted Share Units Smith, Clifford Neil 5 01/04/2015 56 177,703 53,794

Crescent Point Energy Corp. Restricted Share Units Smith, Clifford Neil 5 01/04/2015 57 162,833 -14,870

Crescent Point Energy Corp. Common Shares Stangl, Trent Terry 5 01/04/2015 57 183,310 8,564

Crescent Point Energy Corp. Common Shares Stangl, Trent Terry 5 01/04/2015 97 179,798 -3,512

Crescent Point Energy Corp. Restricted Share Units Stangl, Trent Terry 5 01/04/2015 56 111,614 31,126

Crescent Point Energy Corp. Restricted Share Units Stangl, Trent Terry 5 01/04/2015 57 103,050 -8,564

Crescent Point Energy Corp. Common Shares TISDALE, GREGORY 5 30/03/2015 10 28.78 88,579 -10,000

Crescent Point Energy Corp. Common Shares TISDALE, GREGORY 5 01/04/2015 57 102,075 13,496

Crescent Point Energy Corp. Common Shares TISDALE, GREGORY 5 01/04/2015 97 96,270 -5,805

Crescent Point Energy Corp. Common Shares TISDALE, GREGORY 5 01/04/2015 10 28.97 93,270 -3,000

Crescent Point Energy Corp. Restricted Share Units TISDALE, GREGORY 5 01/04/2015 56 172,998 48,863

Crescent Point Energy Corp. Restricted Share Units TISDALE, GREGORY 5 01/04/2015 57 159,502 -13,496

Crescent Point Energy Corp. Common Shares Toews, Steven George 5 01/04/2015 57 186,999 8,953

Crescent Point Energy Corp. Common Shares Toews, Steven George 5 01/04/2015 97 182,969 -4,030

Crescent Point Energy Corp. Restricted Share Units Toews, Steven George 5 01/04/2015 56 107,038 32,482

Crescent Point Energy Corp. Restricted Share Units Toews, Steven George 5 01/04/2015 57 98,085 -8,953

Crew Energy Inc. Common Shares Brussa, John Albert 4 01/04/2015 57 4.9 544,316 2,509

Crew Energy Inc. Common Shares Brussa, John Albert 4 01/04/2015 57 4.9 544,816 500

Crew Energy Inc. Performance Awards Brussa, John Albert 4 01/04/2015 57 -2,509

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3473



Acquired/ Disposed

Crew Energy Inc. Performance Awards Brussa, John Albert 4 01/04/2015 57 9,383 -1,434

Crew Energy Inc. Restricted Awards Brussa, John Albert 4 01/04/2015 57 3,150 -500

Crew Energy Inc. Common Shares Errico, Jeffery Ernest 4 01/04/2015 57 4.9 27,809 1,809

Crew Energy Inc. Common Shares Errico, Jeffery Ernest 4 01/04/2015 57 4.9 28,175 366

Crew Energy Inc. Performance Awards Errico, Jeffery Ernest 4 01/04/2015 57 8,346 -1,034

Crew Energy Inc. Restricted Awards Errico, Jeffery Ernest 4 01/04/2015 57 2,805 -366

Crew Energy Inc. Common Shares FISCHER, KURTIS 5 01/04/2015 57 4.69 24,208 4,140

Crew Energy Inc. Common Shares FISCHER, KURTIS 5 01/04/2015 57 4.69 25,008 800

Crew Energy Inc. Common Shares FISCHER, KURTIS 5 01/04/2015 10 4.69 22,936 -2,072

Crew Energy Inc. Performance Awards FISCHER, KURTIS 5 01/04/2015 57 41,367 -2,366

Crew Energy Inc. Restricted Awards FISCHER, KURTIS 5 01/04/2015 57 13,800 -800

Crew Energy Inc. Common Shares Leach, John Glenn 5 01/04/2015 57 4.9 286,980 8,284

Crew Energy Inc. Common Shares Leach, John Glenn 5 01/04/2015 57 4.9 288,580 1,600

Crew Energy Inc. Performance Awards Leach, John Glenn 5 01/04/2015 57 55,733 -4,734

Crew Energy Inc. Restricted Awards Leach, John Glenn 5 01/04/2015 57 18,600 -1,600

Crew Energy Inc. Common Shares Morgan, Robert J. 5 01/04/2015 57 4.9 24,583 8,284

Crew Energy Inc. Common Shares Morgan, Robert J. 5 01/04/2015 57 4.9 26,183 1,600

Crew Energy Inc. Performance Awards Morgan, Robert J. 5 01/04/2015 57 55,733 -4,734

Crew Energy Inc. Restricted Awards Morgan, Robert J. 5 01/04/2015 57 18,600 -1,600

Crew Energy Inc. Common Shares Nerland, Dennis Leroy 4 01/04/2015 57 1,033

Crew Energy Inc. Common Shares Nerland, Dennis Leroy 4 01/04/2015 57 4.9 49,714 1,809

Crew Energy Inc. Common Shares Nerland, Dennis Leroy 4 01/04/2015 57 367

Crew Energy Inc. Common Shares Nerland, Dennis Leroy 4 01/04/2015 57 4.9 50,080 366

Crew Energy Inc. Performance Awards Nerland, Dennis Leroy 4 01/04/2015 57 -1,033

Crew Energy Inc. Performance Awards Nerland, Dennis Leroy 4 01/04/2015 57 8,346 -1,034

Crew Energy Inc. Restricted Awards Nerland, Dennis Leroy 4 01/04/2015 57 -367

Crew Energy Inc. Restricted Awards Nerland, Dennis Leroy 4 01/04/2015 57 2,805 -366

Crew Energy Inc. Common Shares Shwed, Dale Orest 5 01/04/2015 57 4.9 927,182 11,550

Crew Energy Inc. Common Shares Shwed, Dale Orest 5 01/04/2015 57 4.9 929,382 2,200

Crew Energy Inc. Performance Awards Shwed, Dale Orest 5 01/04/2015 57 4.9 -6,600

Crew Energy Inc. Performance Awards Shwed, Dale Orest 5 01/04/2015 57 68,100 -6,600

Crew Energy Inc. Restricted Awards Shwed, Dale Orest 5 01/04/2015 57 4.9 -2,200

Crew Energy Inc. Restricted Awards Shwed, Dale Orest 5 01/04/2015 57 22,700 -2,200

Crew Energy Inc. Common Shares Smith, David G. 4 01/04/2015 57 4.69 81,034 1,034

Crew Energy Inc. Common Shares Smith, David G. 4 01/04/2015 57 4.69 81,400 366

Crew Energy Inc. Common Shares Smith, David G. 4 01/04/2015 10 4.69 80,487 -913

Crew Energy Inc. Performance Awards Smith, David G. 4 01/04/2015 57 4.69 -1,034

Crew Energy Inc. Performance Awards Smith, David G. 4 01/04/2015 57 8,346 -1,034

Crew Energy Inc. Restricted Awards Smith, David G. 4 01/04/2015 57 4.69 -366

Crew Energy Inc. Restricted Awards Smith, David G. 4 01/04/2015 57 2,805 -366

Crew Energy Inc. Common Shares SMITH, GARY PARKER 5 01/04/2015 57 4.69 10,175 4,959

Crew Energy Inc. Common Shares SMITH, GARY PARKER 5 01/04/2015 57 4.69 11,141 966

Crew Energy Inc. Common Shares SMITH, GARY PARKER 5 01/04/2015 10 4.69 5,216 -5,925

Crew Energy Inc. Performance Awards SMITH, GARY PARKER 5 01/04/2015 57 41,833 -2,834

Crew Energy Inc. Restricted Awards SMITH, GARY PARKER 5 01/04/2015 57 13,967 -966

Crew Energy Inc. Common Shares Truscott, Kenneth 5 01/04/2015 57 4.9 144,921 8,284

Crew Energy Inc. Common Shares Truscott, Kenneth 5 01/04/2015 57 4.9 146,521 1,600

Crew Energy Inc. Performance Awards Truscott, Kenneth 5 01/04/2015 57 55,733 -4,734

Crew Energy Inc. Restricted Awards Truscott, Kenneth 5 01/04/2015 57 18,600 -1,600

Crew Energy Inc. Common Shares Van Spankeren, Shawn Arie 5 01/04/2015 57 4.9 101,527 4,140

Crew Energy Inc. Common Shares Van Spankeren, Shawn Arie 5 01/04/2015 57 4.9 102,327 800

Crew Energy Inc. Performance Awards Van Spankeren, Shawn Arie 5 01/04/2015 57 41,367 -2,366

Crew Energy Inc. Restricted Awards Van Spankeren, Shawn Arie 5 01/04/2015 57 13,800 -800

CriticalControl Solutions Corp.

Common Shares Bentham, Gary Lambert 4 01/04/2015 90 0.305 265,025 127,625

CriticalControl Solutions Corp.

Common Shares Boeckh Investments Inc. 3 31/03/2015 10 0.305 6,598,350 165,500

Crius Energy Trust Trust Units Bhullar, Roop 5 17/05/2013 00

Crius Energy Trust Trust Units Bhullar, Roop 5 27/03/2015 10 6.99 5,000 5,000

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3474



Acquired/ Disposed

Crius Energy Trust Trust Units Fallquist, Michael 4, 5 17/05/2013 00

Crius Energy Trust Trust Units Fallquist, Michael 4, 5 31/03/2015 10 6.94 1,500 1,500

Crius Energy Trust Trust Units Fallquist, Michael 4, 5 31/03/2015 10 6.945 1,900 400





Crius Energy Trust Trust Units Parikh, Chaitu 5 27/03/2015 10 6.84 10,300 300


Crius Energy Trust Trust Units Parikh, Chaitu 5 27/03/2015 10 6.87 13,200 2,400




Crombie Real Estate Investment Trust

Rights Deferred Units Eby, John Clifford 4 31/12/2014 56 6,521 4,274


Rights Deferred Units Johnson, Brian A. 4 31/12/2014 56 1,970 1,037


Rights Deferred Units KNOWLTON, JOHN MICHAEL ARTHUR

4 31/12/2014 56 1,970 1,037


Rights Deferred Units Latimer, Edward John 4 31/12/2014 56 6,094 3,613


Rights Deferred Units Palk, Barbara Frank 4 14/05/2014 00


Rights Deferred Units Palk, Barbara Frank 4 31/12/2014 56 964 964


Rights Deferred Units Sobey, Frank C. 4 13/03/2006 00


Rights Deferred Units Sobey, Frank C. 4 31/12/2014 56 2,602 2,602


Rights Deferred Units Sobey, Kent Richard 4 31/12/2014 56 8,458 5,548


Rights Deferred Units Stroback, Elisabeth 4 31/12/2014 56 4,230 1,172

CT Real Estate Investment Trust

Restricted Units Forbes, Louis Marie 5 23/10/2013 00


Restricted Units Forbes, Louis Marie 5 02/04/2015 56 13.194 12,746 12,746


Deferred Units Hollister, Brenton Vaughn 4 31/03/2015 56 13.078 3,203 478


Deferred Units Laidley, David Howard 4 31/03/2015 56 13.078 16,571 2,428


Deferred Units Martini, Anna 4 31/03/2015 56 13.078 11,481 1,903

Cymbria Corporation Deferred Share Units MacDonald, James Stuart Alexander

4 31/03/2015 56 32.534 9,033 153

Cynapsus Therapeutics Inc. Common Shares Dexxon Holdings Inc. 3 30/03/2015 16 0.95 18,104,647 4,342,105

Cynapsus Therapeutics Inc. Common Shares Dexxon Holdings Inc. 3 31/03/2015 16 0.952 4,342,105

Cynapsus Therapeutics Inc. Common Shares Dexxon Holdings Inc. 3 31/03/2015 16 0.952 4,342,105

Data Deposit Box Inc. (formerly Coltrane Technologies Inc.)

Options Allen, Scott William Bamber 4 18/03/2015 00 250,000


Options Cheeseman, Troy 4, 5 18/03/2015 00 1,800,000


Options Guidi, Marco 5 18/03/2015 00


Options Guidi, Marco 5 18/03/2015 00 50,000


Options Irwin, Christopher 4 21/10/2014 00 250,000


Options Jewell, Timothy Ross 4, 5 18/03/2015 00 750,000

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3475



Acquired/ Disposed


Options Smuk, Robert James 4 18/03/2015 00 250,000

DDJ High Yield Fund Units DDJ High Yield Fund 1 02/03/2015 38 10.45 800 800

DDJ High Yield Fund Units DDJ High Yield Fund 1 02/03/2015 38 0 -800

DDJ High Yield Fund Units DDJ High Yield Fund 1 06/03/2015 38 10.51 1,000 1,000

DDJ High Yield Fund Units DDJ High Yield Fund 1 06/03/2015 38 0 -1,000

DDJ High Yield Fund Units DDJ High Yield Fund 1 09/03/2015 38 10.51 300 300

DDJ High Yield Fund Units DDJ High Yield Fund 1 09/03/2015 38 0 -300







DECISIVE DIVIDEND CORPORATION

Options Paterson, James Andrew 4, 5 01/04/2015 50 2 50,900 25,000

DHX Media Ltd. Variable Voting Shares Tait, Catherine Johnson 4 04/03/2015 10 7.5037 4,598 2,500

DIRTT Environmental Solutions Ltd.

Common Shares Gosling, Geoffrey William 5 01/04/2015 51 1.5 924,227 17,000


Common Shares Gosling, Geoffrey William 5 01/04/2015 10 907,227 -17,000


Options Gosling, Geoffrey William 5 01/04/2015 51 1.5 108,000 -17,000

Divestco Inc. Common Shares Class A Brillon, Wade 4 31/12/2014 30 0.12 35,881 5,662

Divestco Inc. Common Shares Class A Brillon, Wade 4 31/03/2015 30 0.12 5,662

Divestco Inc. Common Shares Class A Chiarastella, Daniele 5 31/12/2014 30 0.12 230,043 38,962

Divestco Inc. Common Shares Class A Chiarastella, Daniele 5 31/12/2014 30 0.12 123,534 21,044

Divestco Inc. Common Shares Class A Hornsby, Lonn 7 31/12/2014 30 0.12 400,588 128,091

Divestco Inc. Common Shares Class A Popadynetz, Stephen 5 31/12/2014 30 0.12 513,333 142,572

Divestco Inc. Common Shares Class A Popadynetz, Stephen 5 31/03/2015 30 0.12 142,572

Divestco Inc. Common Shares Class A Sinclair-Smith, Steven James

5 31/12/2014 30 0.12 562,256 49,717

DMD Digital Health Connections Group Inc. (Formely Aptilon Corporation)

Common Shares Benthin, Mark 4 27/03/2015 10 0.06 950,000


Common Shares Benthin, Mark 4 27/03/2015 46 0.06 4,440,254 950,000


Common Shares Korman, Roger 4, 7, 5 27/03/2015 10 0.06 4,114,167


Common Shares Korman, Roger 4, 7, 5 27/03/2015 46 0.06 13,229,795 4,114,167


Common Shares Martineau, Denis 4 27/03/2015 10 0.06 950,000


Common Shares Martineau, Denis 4 27/03/2015 46 0.06 10,841,254 950,000





Dollarama Inc. Common Shares Ross, Michael 5 30/03/2015 51 12.255 40,000 40,000

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3476



Acquired/ Disposed




Dollarama Inc. Common Shares Ross, Michael 5 30/03/2015 10 70.913 0 -80,000

Dollarama Inc. Options Ross, Michael 5 30/03/2015 51 12.255 284,000 -40,000




Dolly Varden Silver Corporation

Rights DSU Ambrose, Allen Vernon 4 31/03/2015 56 671,388 159,810


Rights DSU He, Yingbin Ian 4 31/03/2015 56 388,693 110,214


Rights DSU Marter, Allan John 4 31/03/2015 56 950,811 314,110


Rights DSU Moore, Rosalie C. 4 31/03/2015 56 306,644 28,165

Dominion Diamond Corporation

Rights Restricted Share Units

BELL, Brendan Rupert 7 31/03/2015 59 45,530 -17,323



Cameron, Ronald Gordon 5 31/03/2015 59 37,935 -18,968



Lavoie, Chantal 7 31/03/2015 59 48,993 -20,787



Pounds, James Richard 5 31/03/2015 59 48,696 -39,166

Dominion General Investment Corporation

Options Grossman, Robbie 4 17/10/2014 00


Options Grossman, Robbie 4 27/03/2015 50 46,650 46,650


Options Kichuk, Michael 3, 4 17/10/2014 00


Options Kichuk, Michael 3, 4 27/03/2015 50 46,651 46,651


Options Konovalov, Anton Andreevich

3, 4, 5 17/10/2014 00


Options Konovalov, Anton Andreevich

3, 4, 5 27/03/2015 50 46,650 46,650


Options Mintz, Steven Michael 3, 4, 5 17/10/2014 00


Options Mintz, Steven Michael 3, 4, 5 27/03/2015 50 46,651 46,651


Options Parente, Angelo 3, 4 17/10/2014 00


Options Parente, Angelo 3, 4 27/03/2015 50 46,651 46,651

Dorel Industries Inc. Rights Deferred Share Units

Benedetti, Alain 4 13/03/2015 35 38.14 28,555 284

Dorel Industries Inc. Performance Share Units Braunstein, Norman 4 20/08/2014 35 34.58 2,153 20



Dorel Industries Inc. Rights Executive Deferred Share Units

Braunstein, Norman 4 13/03/2015 35 38.14 8,950 89


Cohen, Dian 4 13/03/2015 35 38.14 19,893 198


Duchesne, Rupert 4 13/03/2015 35 38.14 14,374 143


Duchesne, Rupert 4 31/03/2015 56 35.46 15,178 804


Gordon, Harold P. 4 13/03/2015 35 38.14 32,379 323


Gordon, Harold P. 4 31/03/2015 56 35.46 33,302 923

Dorel Industries Inc. Performance Share Units Jacomin, Jean-Claude 5 20/08/2014 35 34.58 3,282 31



Insider Reporting

April 9, 2015

(2015), 38 OSCB 3477



Acquired/ Disposed


Jacomin, Jean-Claude 5 13/03/2015 35 38.14 6,497 65

Dorel Industries Inc. Performance Share Units Rana, Franco 5 20/08/2014 35 34.58 4,153 39




Rana, Franco 5 13/03/2015 35 38.14 6,143 61

Dorel Industries Inc. Performance Share Units Schwartz, Alan 3, 4, 5 20/08/2014 35 34.58 7,965 75



Dorel Industries Inc. Performance Share Units Schwartz, Jeffrey 3, 4, 5 20/08/2014 35 34.58 7,965 75




Schwartz, Jeffrey 3, 4, 5 13/03/2015 35 38.14 6,143 61

Dorel Industries Inc. Performance Share Units Schwartz, Martin 3, 4, 5 20/08/2014 35 34.58 7,965 75



Dorel Industries Inc. Performance Share Units Segel, Jeffrey 3, 4, 5 20/08/2014 35 34.58 7,965 75




Segel, Jeffrey 3, 4, 5 13/03/2015 35 38.14 6,143 61


Tousson, Maurice 4 13/03/2015 35 38.14 36,015 359

Dorel Industries Inc. Performance Share Units Warren, Barry 4 20/08/2014 35 34.58 1,161 11




Warren, Barry 4 13/03/2015 35 38.14 2,432 24

Dorel Industries Inc. Performance Share Units Woods, Peter 5 20/08/2014 35 34.58 2,791 26



Dorel Industries Inc. Performance Share Units Wyse, Edward 5 20/08/2014 35 34.58 1,378 13



Dream Global Real Estate Investment Trust (formerly, Dundee International Real Estate Investment Trust)

Rights Deferred Trust Units

BIERBAUM, DETLEF 4 31/12/2014 30 64,211 15,368



Cooper, Michael 4, 7 31/12/2014 30 93,291 10,109



DREAM Unlimited Corp. 3 31/03/2015 30 9.44 712,906 25,767



GAVAN, JANE 4, 5 31/12/2014 30 59,896 8,574



Gulliver, Rene Douglas 5 31/12/2014 30 27,834 4,834



Jackman, Duncan Newton Rowell

4 31/12/2014 30 33,573 7,530



Koss, Johann Olav 4 31/12/2014 30 9,115 3,115

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3478



Acquired/ Disposed



Sullivan, John 4 31/12/2014 30 26,387 4,567



Valentini, George 7 31/12/2014 30 12,905 905

Dream Hard Asset Alternatives Trust

Deferred Trust Units Alimchandani, Pauline 7 31/12/2014 30 6,142 142


Deferred Trust Units Cooper, Michael 7, 5 31/12/2014 30 6,142 142


Units Dream Hard Asset Alternatives Trust

1 30/03/2015 38 6.698 7,500 7,500



1 30/03/2015 38 0 -7,500



1 31/03/2015 38 6.7067 7,500 7,500



1 31/03/2015 38 0 -7,500



1 01/04/2015 38 6.7 1,100 1,100



1 01/04/2015 38 0 -1,100



1 02/04/2015 38 6.7092 7,500 7,500



1 02/04/2015 38 0 -7,500


Deferred Trust Units Eaton, James George 4 27/03/2015 56 13,266 7,266


Deferred Trust Units Eaton, James George 4 31/03/2015 30 13,580 314


Deferred Trust Units Ferstman, Joanne Shari 7 27/03/2015 56 12,539 6,539


Deferred Trust Units Ferstman, Joanne Shari 7 31/03/2015 30 12,836 297


Deferred Trust Units GAVAN, JANE 7 31/12/2014 30 6,142 142


Deferred Trust Units Kaufman, David Richard 4 31/03/2015 30 6,142 142


Deferred Trust Units Lapham, Andrew Polk 4 27/03/2015 56 13,992 7,992


Deferred Trust Units Lapham, Andrew Polk 4 31/03/2015 30 14,324 332

Dream Industrial Real Estate Investment Trust (formerly, Dundee Industrial Real Estate Investment Trust)

Deferred Trust Units Cooper, Michael 4, 7 31/12/2014 30 73,880 5,028


Deferred Trust Units Crossgrove, Peter Alexander

4 31/12/2014 30 23,010 1,391


Deferred Trust Units Ferstman, Joanne Shari 7 31/12/2014 30 22,702 1,767


Deferred Trust Units GOODALL, ROBERT 4 31/12/2014 30 21,612 1,306


Deferred Trust Units Koss, Johann Olav 4 31/12/2014 30 18,508 1,079


Deferred Trust Units Mulroney, Benedict Martin Paul

4 31/12/2014 30 18,508 1,079

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3479



Acquired/ Disposed


Deferred Trust Units Segal, Leerom 4 31/12/2014 30 26,204 1,640


Deferred Trust Units Sera, Maria Vincenza 4, 7 31/12/2014 30 35,338 1,997


Deferred Trust Units Valentini, George 7 31/12/2014 30 12,776 776


Deferred Trust Units Wiseman, Sheldon 4 31/12/2014 30 11,355 490

Dream Office Real Estate Investment Trust (formerly, Dundee Real Estate Investment Trust)

Rights deferred trust units BIERBAUM, DETLEF 4 31/12/2014 30 41,262 2,972


Rights deferred trust units Charter, Donald Kinloch 4, 6 31/03/2015 30 26,478 1,470


Rights deferred trust units Cooper, Michael 4, 7, 5 31/12/2014 30 177,853 13,228


Rights deferred trust units Crossgrove, Peter Alexander

4 31/12/2014 30 44,595 2,802


Rights deferred trust units Ferstman, Joanne Shari 4 31/12/2014 30 34,001 2,658


Rights deferred trust units GOODALL, ROBERT 4 31/12/2014 30 33,887 1,132


Rights deferred trust units Jackman, Duncan Newton Rowell

4 31/12/2014 30 33,647 2,397

DREAM Unlimited Corp. Deferred Share Units Goodman, Ned 3, 4 02/04/2015 97 0 -33,157

Dundee Precious Metals Inc. Rights Deferred Share Units

Buntain, Derek Hedley Longworth

4 31/03/2015 56 2.72 44,763 4,858

Dundee Precious Metals Inc. Rights Restricted Share Units

Dombalova-Sechenska, Petya Ivanova

7 27/03/2015 59 2.98 26,200 -3,300


Dombalova-Sechenska, Petya Ivanova

7 02/04/2015 59 2.77 20,900 -5,300


Dorfman, Michael Ryan 5 27/03/2015 59 2.98 48,900 -4,800


Dorfman, Michael Ryan 5 02/04/2015 59 2.77 39,834 -9,066


Garkov, Iliya 5 27/03/2015 59 2.98 31,167 -3,167


Garkov, Iliya 5 02/04/2015 59 2.77 25,301 -5,866


Gillin, Robert Peter Charles 4 31/03/2015 56 2.72 77,630 9,270


Goodman, Jonathan Carter 4, 6, 5 31/03/2015 56 2.72 432,451 5,688


Gosse, Richard 5 27/03/2015 59 2.98 48,900 -4,800


Gosse, Richard 5 02/04/2015 59 2.77 39,834 -9,066


Howes, Richard Allan 4, 7, 5 02/04/2015 59 2.77 273,285 -109,418

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3480



Acquired/ Disposed


Hristov, Nikolay 7 27/03/2015 59 2.98 37,667 -3,167


Hristov, Nikolay 7 02/04/2015 59 2.77 31,801 -5,866


John, William Murray 4 31/03/2015 56 2.72 88,663 9,270


Kinsman, Jeremy 4 31/03/2015 56 2.72 36,490 3,756


Kyle, Hume 5 27/03/2015 59 2.98 105,067 -10,867


Kyle, Hume 5 02/04/2015 59 2.77 85,267 -19,800


Lindsay, John 5 02/04/2015 59 2.77 25,967 -4,533


MacRae, Garth A. C. 4 31/03/2015 56 2.72 33,581 3,756


Nixon, Peter 4 31/03/2015 56 2.72 44,764 4,859


Petkov, Konstantin 7 27/03/2015 59 2.98 38,000 -3,300


Petkov, Konstantin 7 02/04/2015 59 2.77 32,700 -5,300


RAE, DAVID 5 27/03/2015 59 2.98 86,000 -4,800


RAE, DAVID 5 02/04/2015 59 2.77 71,568 -14,432


Singer, Ronald 4 31/03/2015 56 2.72 61,539 6,513


Tsakova, Irena Ivanova 7 27/03/2015 59 2.98 38,000 -3,300


Tsakova, Irena Ivanova 7 02/04/2015 59 2.77 32,700 -5,300


Walsh, Anthony P. 3 31/03/2015 56 2.72 38,870 6,513


Young, Donald Walter 4 31/03/2015 56 2.72 25,898 3,755

Duran Ventures Inc. Common Shares Unlimited, No Par Value

Reeder, Jeffrey 4 30/03/2015 90 0.015 0 -50,000

Duran Ventures Inc. Common Shares Unlimited, No Par Value

Reeder, Jeffrey 4 30/03/2015 90 0.015 950,000 50,000

Eagle Energy Trust Trust Units Tomyn, Kelly Ann 5 31/12/2014 30 6.4156 48,794 5,212

Eagle Energy Trust Trust Units Tomyn, Kelly Ann 5 31/12/2014 30 6.5439 43,582 -5,212

easyhome Ltd. Deferred Share Unit Plan Appel, David Harry 4 31/03/2015 30 21.02 40,341 983

easyhome Ltd. Deferred Share Unit Plan Basian, Karen 4 31/03/2015 30 21.02 3,485 916

easyhome Ltd. Deferred Share Unit Plan Lewis, David Andrew 4 31/03/2015 30 21.02 40,466 983

easyhome Ltd. Deferred Share Unit Plan Morrison, Sean 4 28/10/2011 00

easyhome Ltd. Deferred Share Unit Plan Morrison, Sean 4 01/04/2015 30 20.91 2,000 2,000

easyhome Ltd. Deferred Share Unit Plan Thomson, David J. 4 31/03/2015 30 21.02 12,683 511

Eco Oro Minerals Corp. Common Shares Amber Capital LP 3 31/03/2015 90 0 -1,152,225

Economic Investment Trust Limited

Common Shares Taylor, Mark Mathwin 4 31/12/2014 10 89.75 800 100

Economic Investment Trust Limited

Common Shares Taylor, Mark Mathwin 4 31/03/2015 10 93.5 1,540 740

Eldorado Gold Corporation Common Shares CHO, JASON 5 30/03/2015 36 5.88 6,378 6,378

Eldorado Gold Corporation Restricted Share Units CHO, JASON 5 30/03/2015 38 25,117 -6,378

Eldorado Gold Corporation Deferred Units (Cash Settled)

Cory, Keith Ross 4 31/03/2015 56 37,668 1,032

Eldorado Gold Corporation Common Shares Eldorado Gold Corporation 1 30/03/2015 36 1,238,370 -6,378


Gilmore, Robert Russ 4 31/03/2015 56 65,575 2,237


Handley, Geoffrey Arthur 4 31/03/2015 56 75,894 6,454


Reid, Steven Paul 4 31/03/2015 56 34,954 2,904

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3481



Acquired/ Disposed

Element Financial Corporation

Common Shares Tobin, Brian Vincent 4 31/03/2011 10 4 5,000 5,000


Common Shares Tobin, Brian Vincent 4 01/04/2015 00


Deferred Share Units Tobin, Brian Vincent 4 01/04/2015 00


Deferred Share Units Tobin, Brian Vincent 4 01/04/2015 56 16.654 15,000 15,000

Eloro Resources Ltd. Common Shares LARSEN, THOMAS 4, 6, 5 26/03/2015 10 0.12 554,022 1,500

Eloro Resources Ltd. Common Shares LARSEN, THOMAS 4, 6, 5 30/03/2015 10 0.145 557,522 3,500

Emera Incorporated DSU Armour, Wesley Gordon 4 31/03/2015 56 33,509 679

Emera Incorporated DSU Armour, Wesley Gordon 4 31/03/2015 30 33,811 302

Emera Incorporated Common Shares Balfour, Scott Carlyle 5 31/12/2014 30 34.97 19,707 294

Emera Incorporated DSU Balfour, Scott Carlyle 5 31/12/2014 30 689 689

Emera Incorporated Performance Share Units Balfour, Scott Carlyle 5 31/12/2014 30 17,517 731

Emera Incorporated Common Shares Bennett, Robert Ross 5 31/12/2014 30 34.97 2,135 255

Emera Incorporated DSU Bennett, Robert Ross 5 31/12/2014 30 30,849 1,763

Emera Incorporated Performance Share Units Bennett, Robert Ross 5 31/12/2014 30 22,285 947

Emera Incorporated DSU Bragg, James Lee 4 31/03/2015 56 8,130 282

Emera Incorporated DSU Bragg, James Lee 4 31/03/2015 30 8,202 72

Emera Incorporated DSU Chrominska, Sylvia Dolores 4 31/03/2015 56 14,610 780

Emera Incorporated DSU Chrominska, Sylvia Dolores 4 31/03/2015 30 14,737 127

Emera Incorporated DSU Demone, Henry 4 31/03/2015 56 1,833 902

Emera Incorporated DSU Demone, Henry 4 31/03/2015 30 1,841 8

Emera Incorporated DSU Edgeworth, Allan Leslie 4 31/03/2015 56 33,697 713

Emera Incorporated DSU Edgeworth, Allan Leslie 4 31/03/2015 30 34,000 303

Emera Incorporated DSU Eisenhauer, James Daniel 7 31/03/2015 56 27,395 1,062

Emera Incorporated DSU Eisenhauer, James Daniel 7 31/03/2015 30 27,637 242

Emera Incorporated DSU Greer, Sandra 7 31/03/2015 56 2,146 437

Emera Incorporated DSU Greer, Sandra 7 31/03/2015 30 2,161 15

Emera Incorporated Common Shares Hanf, Robert John Scott 7 31/12/2014 30 34.97 3,966 429

Emera Incorporated Common Shares Hanf, Robert John Scott 7 25/03/2015 51 23.94 6,791 2,825

Emera Incorporated Common Shares Hanf, Robert John Scott 7 25/03/2015 51 32.06 10,066 3,275

Emera Incorporated Common Shares Hanf, Robert John Scott 7 25/03/2015 10 41.75 3,966 -6,100

Emera Incorporated DSU Hanf, Robert John Scott 7 31/12/2014 30 13,076 708

Emera Incorporated Options Hanf, Robert John Scott 7 25/03/2015 51 23.94 72,500 -2,825

Emera Incorporated Options Hanf, Robert John Scott 7 25/03/2015 51 32.06 69,225 -3,275

Emera Incorporated Performance Share Units Hanf, Robert John Scott 7 31/12/2014 30 14,233 576

Emera Incorporated Common Shares Huskilson, Christopher 4, 5 31/12/2014 30 32.72 25,529 7

Emera Incorporated DSU Huskilson, Christopher 4, 5 31/12/2014 30 202,001 8,433

Emera Incorporated Performance Share Units Huskilson, Christopher 4, 5 31/12/2014 30 98,302 3,976

Emera Incorporated DSU Ivany, Raymond Edmund 7 31/03/2015 56 10,120 688

Emera Incorporated DSU Ivany, Raymond Edmund 7 31/03/2015 30 10,206 86

Emera Incorporated DSU Leonard, James Wayne 4 31/03/2015 56 2,101 883

Emera Incorporated DSU Leonard, James Wayne 4 31/03/2015 30 2,112 11

Emera Incorporated DSU Loewen, Lynn 4 31/03/2015 56 7,839 883

Emera Incorporated DSU Loewen, Lynn 4 31/03/2015 30 7,903 64

Emera Incorporated DSU Marchand, Bruce 5 31/12/2014 30 2,355 247

Emera Incorporated Performance Share Units Marchand, Bruce 5 31/12/2014 30 15,133 632

Emera Incorporated DSU McLennan, John T. 7 31/03/2015 56 63,998 870

Emera Incorporated DSU McLennan, John T. 7 31/03/2015 30 64,578 580

Emera Incorporated Common Shares Muldoon, Daniel 5 31/12/2014 30 34.97 1,755 72

Emera Incorporated DSU Muldoon, Daniel 5 31/12/2014 30 14,640 605

Emera Incorporated Performance Share Units Muldoon, Daniel 5 31/12/2014 30 9,578 396

Emera Incorporated Common Shares O'Connor, Wayne David 7 31/12/2014 30 34.97 5,780 319

Emera Incorporated DSU O'Connor, Wayne David 7 31/12/2014 30 35,587 1,525

Emera Incorporated Performance Share Units O'Connor, Wayne David 7 31/12/2014 30 10,889 444

Emera Incorporated DSU Pether, Donald Allison 4 31/03/2015 56 24,274 992

Emera Incorporated DSU Pether, Donald Allison 4 31/03/2015 30 24,488 214

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3482



Acquired/ Disposed

Emera Incorporated DSU Rosen, Andrea Sarah 4 31/03/2015 56 33,389 978

Emera Incorporated DSU Rosen, Andrea Sarah 4 31/03/2015 30 33,687 298

Emera Incorporated DSU Rounding, Marie Catherine 7 31/03/2015 56 15,099 437

Emera Incorporated DSU Rounding, Marie Catherine 7 31/03/2015 30 15,233 134

Emera Incorporated DSU Sergel, Richard 4 31/03/2015 56 6,038 414

Emera Incorporated DSU Sergel, Richard 4 31/03/2015 30 6,089 51

Emera Incorporated DSU SHEPPARD, Mary Jacqueline

4 31/03/2015 56 29,456 1,563

Emera Incorporated DSU SHEPPARD, Mary Jacqueline

4 31/03/2015 30 29,712 256

Emera Incorporated Common Shares Tower, Nancy Gail 5 31/12/2014 30 34.97 6,387 547

Emera Incorporated Common Shares Tower, Nancy Gail 5 31/12/2014 30 32.72 6,410 23

Emera Incorporated DSU Tower, Nancy Gail 5 31/12/2014 30 55,850 2,380

Emera Incorporated Performance Share Units Tower, Nancy Gail 5 31/12/2014 30 23,987 975

Empire Company Limited Rights DSU (Deferred Share Unit)

Brooks, Bonnie 4 31/12/2014 56 73.87 3,899 1,829


Devine, Cynthia Jane 4 31/12/2014 56 73.82 3,127 1,924


Dexter, Robert P. 4 31/12/2014 56 73.41 29,718 2,451


Ferguson, David Sinclair 4 31/12/2014 56 70.67 7,444 814

Empire Company Limited Rights PSU (Performance Share Units)

Gagne, Simon 5 31/12/2014 56 72.42 14,337


Gagne, Simon 5 31/12/2014 56 72.42 14,337


Gagne, Simon 5 31/12/2014 56 14,337 14,337


Harsant, Edward Claude 4 31/12/2014 56 72.04 164


Harsant, Edward Claude 4 31/12/2014 56 72.04 164


Keay, Clinton David 5 31/12/2014 56 73.49 11,022


Keay, Clinton David 5 31/12/2014 56 73.49 11,022


Keay, Clinton David 5 31/12/2014 56 11,022 11,022


Lynch, Kevin Gordon 4 31/12/2014 56 73.72 2,349 1,951


Mahoney, Stewart Harry 5 31/12/2014 56 67.15 1,033


Mahoney, Stewart Harry 5 31/12/2014 56 67.15 1,033


Mahoney, Stewart Harry 5 31/12/2014 56 3,197 1,033


McCaskill, Karin Ann 7 31/12/2014 56 67.15 1,196


McCaskill, Karin Ann 7 31/12/2014 56 67.15 1,196


McCaskill, Karin Ann 7 31/12/2014 56 1,196 1,196


Mulvenna, Charles Joseph 7 31/12/2014 56 72.42 16,134


Mulvenna, Charles Joseph 7 31/12/2014 56 72.42 16,134


Mulvenna, Charles Joseph 7 31/12/2014 56 16,134 16,134


Potter, Jason Jay Nelson 7 31/12/2014 56 72.42 17,833


Potter, Jason Jay Nelson 7 31/12/2014 56 72.42 17,833


Potter, Jason Jay Nelson 7 31/12/2014 56 17,833 17,833


Poulin, Marc 4, 7 31/12/2014 56 71.94 48,654

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3483



Acquired/ Disposed


Poulin, Marc 4, 7 31/12/2014 56 71.94 48,654


Poulin, Marc 4, 7 31/12/2014 56 71,363 48,654


Rhinelander, Mel 4 31/12/2014 56 71.09 30


Rhinelander, Mel 4 31/12/2014 56 71.09 30


Savidant, Stephen James 4 31/12/2014 56 73.58 21,716 2,450


Sobey, David Frank 3, 4 31/12/2014 56 73.38 20,757 1,695


Sobey, Donald Creighton Rae

3, 4, 5 31/12/2014 56 73.49 14,958 1,670


Sobey, Frank C. 7 31/07/2002 00


Sobey, Frank C. 7 31/12/2014 56 77.49 350 350


Tessier, Claude 5 31/12/2014 56 72.42 16,449


Tessier, Claude 5 31/12/2014 56 72.42 16,449


Tessier, Claude 5 31/12/2014 56 16,449 16,449


Turcotte, Martine 4 31/12/2014 56 73.83 3,799 1,762


Vimard, Francois 7 31/12/2014 56 72.42 17,833


Vimard, Francois 7 31/12/2014 56 72.42 17,833


Vimard, Francois 7 31/12/2014 56 17,833 17,833

Enbridge Inc. Common Shares Bird, John Richard 7 31/03/2015 30 58.7 39,849 573

Enbridge Inc. Rights - 2012 Performance Units (PUs) - December 31, 2014 Expiry

Bird, John Richard 7 31/12/2014 30 17,509 343


Bird, John Richard 7 31/03/2015 59 0 -17,509





Enbridge Inc. Rights 2014 Restricted Stock Units (RSUs) 35 mos maturity period

Harper, Curtis Gregory 5 25/03/2015 30 12,842 349

Enbridge Inc. Common Shares Johnston, Christopher James

5 01/07/2014 00 58


5 02/03/2015 30 57.9 1,990 40


5 01/07/2014 00 58

Enbridge Inc. Options $59.08 - March 2, 2025 Expiry

Johnston, Christopher James

5 01/07/2014 00

Enbridge Inc. Options $59.08 - March 2, 2025 Expiry


5 02/03/2015 50 59.08 32,990 32,990



5 01/07/2014 00



5 02/03/2015 56 2,030 2,030



5 02/03/2015 30 2,046 16

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3484



Acquired/ Disposed



5 01/07/2014 00 1,174


Kelln, Leigh Dawn 5 25/03/2015 30 1,651 45


Kelln, Leigh Dawn 5 25/03/2015 30 1,553 42

Enbridge Inc. Common Shares Murray, Patrick Robert 5 26/03/2015 30 59.38 702 33

Enbridge Inc. Common Shares Murray, Patrick Robert 5 26/03/2015 30 57.9 2,889 23


Murray, Patrick Robert 5 25/03/2015 30 1,172 9


Murray, Patrick Robert 5 25/03/2015 30 1,087 8


Robinson, Tyler Wade 5 25/03/2015 30 2,450 67

Enbridge Inc. Common Shares Wuori, Stephen John 5 31/03/2015 30 51.62 257,104 211

Enbridge Inc. Common Shares Wuori, Stephen John 5 01/04/2015 51 18.28 457,104 200,000

Enbridge Inc. Common Shares Wuori, Stephen John 5 01/04/2015 38 61.05 397,202 -59,902

Enbridge Inc. Common Shares Wuori, Stephen John 5 01/04/2015 10 60.73 257,104 -140,098

Enbridge Inc. Common Shares Wuori, Stephen John 5 31/03/2015 30 46.26 2,319 81

Enbridge Inc. Options $18.285 ($36.57) - August 15, 2015 Expiry

Wuori, Stephen John 5 01/04/2015 51 18.28 130,000 -200,000


Wuori, Stephen John 5 31/12/2014 30 18,270 358


Wuori, Stephen John 5 31/03/2015 59 0 -18,270





Enbridge Income Fund Holdings Inc.

Common Shares Opheim, Wanda Marie 6 31/12/2014 30 31.5 6,038 263







Encana Corporation Common Shares Balmer, Jeffrey Scott 7 02/04/2015 90 0 -1,914

Encana Corporation Common Shares Balmer, Jeffrey Scott 7 29/05/2014 00 1,591

Encana Corporation Common Shares Balmer, Jeffrey Scott 7 02/04/2015 90 1,914 323

Encana Corporation Common Shares Hill, David Glen 5 02/04/2015 90 3,489 -4,603

Encana Corporation Common Shares Hill, David Glen 5 01/10/2013 00

Encana Corporation Common Shares Hill, David Glen 5 01/10/2013 00 3,771

Encana Corporation Common Shares Hill, David Glen 5 02/04/2015 90 6,080 832

Endeavour Mining Corporation

Deferred Share Units (Cash payment on Redemption)

Beckett, Michael E. 4, 5 02/04/2015 56 0.4742 294,625 50,083



Cockerill, Ian 4 02/04/2015 56 0.4742 141,092 31,632



Giustra, Frank 4 02/04/2015 56 0.4742 112,961 26,360


Common Shares Hally, Ota 5 01/04/2015 00 45,000


Options Hally, Ota 5 01/04/2015 00 490,000

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3485



Acquired/ Disposed


Performance Share Units Hally, Ota 5 01/04/2015 00 176,000



Henderson, Ian Ramsay 4 02/04/2015 56 0.4742 310,001 42,176



McManus, Wayne W. 4 02/04/2015 56 0.4742 215,923 36,904



Rodriguez, Miguel 4 02/04/2015 56 0.4742 101,448 21,088

Endeavour Silver Corp. Common Shares Bried, Bruce Eugene 5 28/01/2008 51 0.155 90,000 90,000

Endeavour Silver Corp. Rights Deferred Share Unit

Handley, Geoffrey Arthur 4 31/03/2015 56 2.39 67,440 8,221


McLennan, Rex John 4 31/03/2015 56 2.39 43,578 6,757


Pickering, Kenneth William 4 31/03/2015 56 2.39 29,075 5,711


Szotlender, Mario 4 31/03/2015 56 54,382 5,606

Endurance Gold Corporation Options Boyd, Robert T. 4, 5 31/03/2015 52 1,400,000 -650,000

Endurance Gold Corporation Options Cheng, Teresa 5 31/03/2015 52 0.1 550,000 -100,000

EnerCare Inc. (formerly The Consumers' Waterheater Income Fund)

Common Shares Pantelidis, James 4 31/12/2014 30 12.35 1,212 51


Common Shares Pantelidis, James 4 01/01/2011 00




Common Shares Pantelidis, James 4 31/12/2014 30 12.35 51


Common Shares Pantelidis, James 4 31/12/2014 30 12.35 51


Common Shares Pantelidis, James 4 31/12/2014 30 12.46 26,352 1,209






Common Shares Pantelidis, James 4 31/12/2014 30 12.46 1,209


Common Shares Pantelidis, James 4 31/12/2014 30 12.46 1,209


Deferred Share Units Pantelidis, James 4 31/03/2015 56 129,681 1,960


Deferred Share Units Pearce, Roy 4 31/03/2015 56 52,476 739


Options Solway, Lorne Craig 5 23/03/2015 00 22,231


Performance Units Solway, Lorne Craig 5 23/03/2015 00 2,933

Enerflex Ltd. Common Shares Boswell, Robert Stephen 4 31/03/2015 30 11.766 31,250 571

Enerflex Ltd. Rights Deferred Share Units (cash settled)

Boswell, Robert Stephen 4 31/03/2015 46 14.93 8,376 586


Dunn, William Byron 4 31/03/2015 46 14.93 32,618 2,411

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3486



Acquired/ Disposed


Hill, Wayne S. 4 31/03/2015 46 14.93 16,753 1,172


Marshall, H. Stanley 4 31/03/2015 46 14.93 33,705 2,311


Savidant, Stephen James 4 31/03/2015 46 14.93 59,931 2,545


Weill, Michael 4 31/03/2015 46 14.93 20,540 1,172


WESLEY, HELEN JUNE 4 31/03/2015 46 14.93 14,291 2,194

Energy Leaders Plus Income Fund

Units Energy Leaders Plus Income Fund

1 31/03/2015 38 900 900

Energy Leaders Plus Income Fund

Units Energy Leaders Plus Income Fund

1 31/03/2015 38 0 -900

Engagement Labs Inc. Options Boyer, Gilbert 5 02/04/2015 50 203,361 45,000

Engagement Labs Inc. Options Dickson, Robert Earl 4 02/04/2015 50 150,000 100,000

Engagement Labs Inc. Options Pollack, Sheldon M. 4 02/04/2015 50 100,000 50,000

Engagement Labs Inc. Options Saltzman, Marc Alexander 4 02/04/2015 50 100,000 50,000

Engagement Labs Inc. Options Spiegel, Robert Neil 5 02/03/2015 00

Engagement Labs Inc. Options Spiegel, Robert Neil 5 02/04/2015 50 25,000 25,000

Engagement Labs Inc. Options Teuscher, Adrian A. 4 02/04/2015 50 119,222 50,000

Enpar Technologies Inc. Common Shares Mao, Ge 4 08/06/2011 10 0 -327,000

Ensign Energy Services Inc. Common Shares Howe, James Brian 4 31/03/2015 46 9.97 134,292 2,006

Ensign Energy Services Inc. Rights Deferred Share Units (Common Shares)

Kangas, Leonard 4 31/03/2015 56 10.17 24,307 983


Moomjian, Jr., Cary A. 4 31/03/2015 56 10.17 3,482 1,967


Schroeder, John G. 4 31/03/2015 56 10.17 25,291 1,967

Ensign Energy Services Inc. Common Shares Skirka, Kenneth John 4 31/03/2015 46 9.97 40,002 2,006

Ensign Energy Services Inc. Common Shares Surkan, Gail Donelda 4 31/03/2015 46 9.97 19,392 2,006


Surkan, Gail Donelda 4 05/01/2015 30 10.191 51


Surkan, Gail Donelda 4 05/01/2015 30 10.191 4,414 51

Ensign Energy Services Inc. Common Shares Whitham, Barth Edward 4 31/03/2015 46 9.97 36,692 2,006

Enterprise Group, Inc. Warrants O'Kell, Desmond 5 31/03/2015 10 0.005 48,000 -100,000

EnWave Corporation Restricted Share Units McKinnon, Hugh Crawford 4 24/01/2014 00

EnWave Corporation Restricted Share Units McKinnon, Hugh Crawford 4 23/03/2015 56 1.07 20,000 20,000

EnWave Corporation Restricted Share Units Ritchie, Mary 4 06/10/2014 00

EnWave Corporation Restricted Share Units Ritchie, Mary 4 23/03/2015 56 1.07 25,000

EnWave Corporation Restricted Share Units Ritchie, Mary 4 23/03/2015 56 1.07 25,000 25,000

EnWave Corporation Restricted Share Units Ritchie, Stweart John 4 22/11/2013 00

EnWave Corporation Restricted Share Units Ritchie, Stweart John 4 23/03/2015 56 1.07 20,000 20,000

Epsilon Energy Ltd. Common Shares Bond, Bruce Lane 5 31/03/2015 10 3.1549 105,000 5,000

Epsilon Energy Ltd. Options Bond, Bruce Lane 5 31/03/2015 59 3.24 20,000 -30,000

Epsilon Energy Ltd. Common Shares Epsilon Energy Ltd. 1 01/04/2015 38 0 -2,800

eQube Gaming Limited Common Shares Sidhu, Bill Balraj 5 30/03/2015 51 0.09 202,500 45,000

eQube Gaming Limited Options Sidhu, Bill Balraj 5 30/03/2015 51 0.09 0 -45,000

eQube Gaming Limited Common Shares TONG, KIN ON KENT 4, 5 30/03/2015 51 0.09 1,106,900 168,000

eQube Gaming Limited Options TONG, KIN ON KENT 4, 5 30/03/2015 51 0.09 250,000 -168,000

Equitable Group Inc. Rights Restricted Share Units

Downie, David 5 31/12/2014 30 12


Downie, David 5 31/12/2014 30 1,117 12


Fryer, Scott Allan 5 31/12/2014 30 4


Fryer, Scott Allan 5 31/12/2014 30 690 4


Kukulowicz, Kimberly 7 31/12/2014 30 8


Kukulowicz, Kimberly 7 31/12/2014 30 921 8

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3487



Acquired/ Disposed


Leland, Brian 7 31/12/2014 30 4


Leland, Brian 7 31/12/2014 30 791 4


Malozewski, Tamara 7 31/12/2014 30 8


Malozewski, Tamara 7 31/12/2014 30 908 8

Equitable Group Inc. Common Shares Moor, Andrew 5 01/04/2015 51 20.6 82,456 3,000

Equitable Group Inc. Options Options granted Moor, Andrew 5 01/04/2015 51 20.6 279,026 -3,000


Moor, Andrew 5 31/12/2014 30 125


Moor, Andrew 5 31/12/2014 30 6,133 125


Ruch, Daniel 7 31/12/2014 30 4


Ruch, Daniel 7 31/12/2014 30 410 4


Sperling, Jody Lynn 5 31/12/2014 30 4


Sperling, Jody Lynn 5 31/12/2014 30 758 4

Equitable Group Inc. Common Shares Stramaglia, Michael 4 14/05/2014 00

Equitable Group Inc. Common Shares Stramaglia, Michael 4 01/04/2015 10 56.48 900 900


Tratch, Ronald Walter 7 31/12/2014 30 18


Tratch, Ronald Walter 7 31/12/2014 30 1,040 18

Equitable Group Inc. Common Shares Wilson, Timothy James 5 02/04/2015 10 57 2,595 2,000


Wilson, Timothy James 5 31/12/2014 30 46


Wilson, Timothy James 5 31/12/2014 30 3,131 46


Yu, David 5 31/12/2014 30 4


Yu, David 5 31/12/2014 30 749 4

Equitorial Exploration Corp. Common Shares Power, Patrick Edward 4, 5 31/03/2015 10 0.11 903,000 -300,000

Equity Financial Holdings Inc. (formerly, Grey Horse Corporation)


Bissada, Yousry 7 31/03/2015 56 9.69 2,754 1,109



Calder, Brendan 4 31/03/2015 56 9.69 4,027 1,174



Griggs, Stephen John 4 31/03/2015 56 9.69 9,619 2,864



Kipp, Bradley Robert 4 31/03/2015 56 9.69 15,447 1,909



McCarthy, Michele, Daphne 4 31/03/2015 56 9.69 3,482 1,258



Mulvihill,, William 7 31/03/2015 56 9.69 3,213 1,445



Ouellet, Martin 4 31/03/2015 56 9.69 2,516 787



Rounthwaite, Frederic David 4 31/03/2015 56 9.69 2,818 958



Silvestri, Glen 4 31/03/2015 56 9.69 5,302 1,445

Ethos Gold Corp. Common Shares Freeman, Gary Richard 4, 5 26/03/2015 10 0.145 575,000 10,000

Ethos Gold Corp. Common Shares Freeman, Gary Richard 4, 5 30/03/2015 10 0.145 2,081,207 5,000

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3488



Acquired/ Disposed

European Strategic Balanced Fund

Units Bill, Conor 7 27/05/2014 00


Units Bill, Conor 7 31/03/2015 10 9.57 100 100


Units Bill, Conor 7 01/04/2015 10 9.4 500 400

Evrim Resources Corp. Common Shares Altius Minerals Corporation 3 31/03/2015 00

Evrim Resources Corp. Common Shares Altius Minerals Corporation 3 31/03/2015 11 0.17 4,117,875 4,117,875

Evrim Resources Corp. Common Shares Altius Minerals Corporation 3 01/04/2015 00

Evrim Resources Corp. Common Shares Altius Minerals Corporation 3 01/04/2015 11 0.17 4,117,875

Evrim Resources Corp. Common Shares van Eeden, Paul Pieter 4 31/03/2015 10 0.17 -4,117,875

Evrim Resources Corp. Common Shares van Eeden, Paul Pieter 4 31/03/2015 11 0.17 0 -4,117,875

Evrim Resources Corp. Common Shares van Eeden, Paul Pieter 4 23/12/2010 00

Evrim Resources Corp. Common Shares van Eeden, Paul Pieter 4 02/04/2015 16 0.15 4,000,000 4,000,000

Extendicare Inc. Rights share appreciation rights

Angus, John Forrest 4 16/03/2015 58 - Expiration

of rights

8.11 20,000 -10,000


Bakti, Deborah 7 16/03/2015 58 - Expiration

of rights

8.11 30,000 -15,000


Cunningham, Margery Obrentz

4 16/03/2015 58 - Expiration

of rights

8.11 20,000 -10,000


Dean, Howard Brush 4 16/03/2015 58 - Expiration

of rights

8.11 20,000 -10,000


Everson, Elaine E. 5 16/03/2015 58 - Expiration

of rights

8.11 36,000 -18,000


Fountain, Jillian Elizabeth 5 16/03/2015 58 - Expiration

of rights

8.11 36,000 -18,000


Goldsmith, Seth B. 4 16/03/2015 58 - Expiration

of rights

8.11 20,000 -10,000


Gurka, Richard 7 16/03/2015 58 - Expiration

of rights

8.11 60,000 -30,000


Hutzel, Benjamin John 4 16/03/2015 58 - Expiration

of rights

8.11 20,000 -10,000


Keating, David Christopher 7 16/03/2015 58 - Expiration

of rights

8.11 36,000 -15,000


Libin, Alvin G. 4 16/03/2015 58 - Expiration

of rights

8.11 20,000 -10,000

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3489



Acquired/ Disposed


Lukenda, Timothy Louis 4, 5 16/03/2015 58 - Expiration

of rights

8.11 120,000 -50,000


Luneburg, Richard Burke 7 16/03/2015 58 - Expiration

of rights

8.11 30,000 -15,000


MacQuarrie, James Thomas 4 16/03/2015 58 - Expiration

of rights

8.11 20,000 -10,000


McKey, Christina L. 7 16/03/2015 58 - Expiration

of rights

8.11 30,000 -15,000


Tuttle, Paul 5 16/03/2015 58 - Expiration

of rights

8.11 50,000 -25,000

Extenway Solutions Inc. Options Pelletier, Mario 5 01/04/2015 50 0.13 1,500,000 400,000

Fairfax Financial Holdings Limited

Subordinate Voting Shares

Bonham, David 5 31/12/2014 30 510.82 857 99



Bradstreet, F. Brian 7 31/12/2014 30 510.82 45,917 127



Burke, Frances 7 31/12/2014 30 510.82 14,310 62



Christiansen, Jan 7 31/03/2015 10 567.15 5,881 -667



Clarke, Peter 5 31/12/2014 30 510.82 1,378 86



Cloutier, Jean 5 31/12/2014 30 510.82 4,098 62



La Selva, Vincenza 7 31/12/2014 30 510.82 1,805 46



Lace, Roger 7 31/12/2014 30 510.82 2,733 36



Loganadhan, Vinodh 7 31/12/2014 30 510.82 2,751 54



Martin, Bradley 5 31/12/2014 30 510.82 4,640 127



Ratnaswami, Chandran 7 31/12/2014 30 510.82 9,870 127



Ratnaswami, Chandran 7 31/12/2014 30 510.82 1,750 46



Rivett, Paul 5 31/12/2014 30 510.82 1,308 244



Salsberg, Eric 7 31/12/2014 30 510.82 86,356 102



Schokking, Ronald 5 31/12/2014 30 510.82 30,377 102



Watsa, V. Prem 3, 4, 6, 5 31/12/2014 30 510.82 128,533 153

Fiera Capital Corporation (formerly Fiera Sceptre Inc.)

Performance Share Units Brosseau, Sylvain 4, 6, 5 31/03/2015 35 108,133 1,005


Performance Share Units Desjardins, Jean-Guy 4, 6, 5 31/03/2015 35 180,222 1,675


Subordinate Voting Shares Class A

Monty, Jean Claude 4, 6 27/03/2015 10 13.71 648,100 -1,900



Monty, Jean Claude 4, 6 30/03/2015 10 13.709 546,000 -102,100


Deferred Share Units (DSUs)

Scace, Arthur R.A. 4 30/03/2015 35 6,840 233

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3490



Acquired/ Disposed


Deferred Share Units (DSUs)

Shaw, David Robinson 4 30/03/2015 35 6,840 233



Shaw, David Robinson 4 15/06/2006 00



Shaw, David Robinson 4 27/03/2015 10 13.87 800 800



Shaw, David Robinson 4 15/06/2006 00



Shaw, David Robinson 4 27/03/2015 10 13.85 2,500 2,500


Restricted Share Units St-Hilaire, Alain 5 30/03/2015 35 93,183 3,183


Restricted Share Units VAILLANCOURT, PAUL LAURENT

5 30/03/2015 35 65,658 610

Firm Capital Property Trust Units Poklar, Sandy Ivan 4, 5 29/11/2012 00

Firm Capital Property Trust Units Poklar, Sandy Ivan 4, 5 02/04/2015 10 5.41 4,700 4,700

First Capital Realty Inc. Common Shares Chouinard, Roger 7 31/03/2015 97 19.138 4,873 11

First Capital Realty Inc. Common Shares Stephen, Andrea 4 31/03/2015 97 19.138 4,287 137

First Capital Realty Inc. Common Shares Stephen, Andrea 4 31/03/2015 97 19.138 4,629 342

First Nickel Inc. Rights Restricted Share Unit Plan

Boehlert, Thomas Michael 4, 5 31/03/2015 56 23,901,631 18,901,632


Colas, Alfred Aguilar 5 31/03/2015 56 7,282,238 6,615,571


Davis, Paul Charles 5 31/03/2015 56 6,615,571 6,615,571

First Nickel Inc. Common Shares Resource Capital Fund IV LP

3 26/03/2015 11 820,073,179 18,959,093

First Nickel Inc. Common Shares Resource Capital Fund V L.P.

3 26/03/2015 11 90,031,583 5,738,548


Samson, Sean Joseph Foley

5 31/03/2015 56 6,615,571 6,615,571

FIRSTSERVICE CORPORATION


Frye, Douglas P. 2 21/03/2005 00



Frye, Douglas P. 2 27/03/2015 97 17,940 17,940



Frye, Douglas P. 2 27/03/2015 10 79.45 17,440 -500



Frye, Douglas P. 2 27/03/2015 10 79.5 15,340 -2,100



Frye, Douglas P. 2 27/03/2015 10 79.55 13,840 -1,500



Frye, Douglas P. 2 27/03/2015 10 79.56 13,440 -400



Frye, Douglas P. 2 27/03/2015 10 79.6 11,740 -1,700



Frye, Douglas P. 2 27/03/2015 10 79.65 11,340 -400



Frye, Douglas P. 2 27/03/2015 10 79.67 11,240 -100



Frye, Douglas P. 2 27/03/2015 10 79.7 9,740 -1,500



Frye, Douglas P. 2 27/03/2015 10 79.72 8,940 -800



Frye, Douglas P. 2 27/03/2015 10 79.74 8,740 -200



Frye, Douglas P. 2 27/03/2015 10 79.75 7,940 -800



Frye, Douglas P. 2 27/03/2015 97 27,000 -17,940

Fortress Paper Ltd. Common Shares Class A voting without par value

Boileau, Roger 7 07/03/2012 00

Fortress Paper Ltd. Common Shares Class A voting without par value

Boileau, Roger 7 09/03/2015 57 2.15 5,000 5,000

Fortress Paper Ltd. Rights Restricted Share Units

Boileau, Roger 7 09/03/2015 57 2.15 0 -5,000

Fortune Minerals Limited Common Shares Goad, Robin Ellis 4, 5 01/04/2015 16 0.08 2,604,704 125,000

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3491



Acquired/ Disposed

Fortune Minerals Limited Warrants Goad, Robin Ellis 4, 5 01/01/2008 00

Fortune Minerals Limited Warrants Goad, Robin Ellis 4, 5 01/04/2015 16 0.15 62,500 62,500

Fortune Minerals Limited Common Shares Romaniuk, Michael Andrew 5 01/04/2015 11 320,000 125,000

Franco-Nevada Corporation Common Shares Decher, Petra 5 31/03/2015 10 61.426 3,801 -1,000

Frankly Inc. (formerly WB III Acquisition Corp.)

Options Chung, Steve 4, 5 01/04/2015 50 835,170 215,979


Rights RSU Plan Chung, Steve 4, 5 23/12/2014 00


Rights RSU Plan Chung, Steve 4, 5 01/04/2015 56 247,676 247,676


Rights RSU Plan Lacavera, Anthony 4 23/12/2014 00


Rights RSU Plan Lacavera, Anthony 4 01/04/2015 56 15,000 15,000


Rights RSU Plan Schmeichel, Ronald Dale 4 12/08/2013 00


Rights RSU Plan Schmeichel, Ronald Dale 4 01/04/2015 56 15,000 15,000

Freehold Royalties Ltd. Deferred Share Units blades, douglas nolan 4 31/03/2015 30 48,946 835

Freehold Royalties Ltd. Deferred Share Units CAMPBELL, HARRY SINCLAIR

4 31/03/2015 30 35,256 604

Freehold Royalties Ltd. Common Shares Canadian National Railway Company, Administrator of the CN Trust Funds

3 31/03/2015 46 17.94 4,963,019 54,489

Freehold Royalties Ltd. Deferred Share Units HARRISON, PETER T 4 31/03/2015 30 17,701 316

Freehold Royalties Ltd. Deferred Share Units Korpach, Arthur Neil 4 31/03/2015 30 11,012 171

Freehold Royalties Ltd. Deferred Share Units MacKenzie, Susan Mary 4 31/03/2015 30 4,911 62

Freehold Royalties Ltd. Deferred Share Units SANDMEYER, DAVID JAMES

4 31/03/2015 30 19,077 315

Freehold Royalties Ltd. Deferred Share Units Tourigny, Rodger 4 31/03/2015 30 18,064 297

Freehold Royalties Ltd. Deferred Share Units Walsh, Aidan Murphy 4 31/03/2015 30 7,735 113

Galway Metals Inc. Common Shares Jaguar Financial Corporation

3 30/03/2015 10 0.12 6,574,999 2,000

Galway Metals Inc. Common Shares Jaguar Financial Corporation

3 31/03/2015 10 0.12 6,576,499 1,500

Gazit-Globe Ltd. Debentures Series J (denominated in Israeli new shekels)

Bar On, Ronnie Haim 4 31/03/2015 38 400 $39,200 -$400

GENDIS INC. Common Shares GENDIS INC. 1 03/03/2015 38 3.6 1,000 1,000

GENDIS INC. Common Shares GENDIS INC. 1 03/03/2015 38 0 -1,000























Insider Reporting

April 9, 2015

(2015), 38 OSCB 3492



Acquired/ Disposed











GeneNews Limited Options Auld, Leslie 4, 5 30/03/2015 50 0.74 700,000 200,000

Genoil Inc. Options Abbott, Bruce 4 26/10/2014 50 0.05 15,700,000 2,000,000

Genoil Inc. Options Bojar, Timothy 4 24/03/2015 50 0.05 4,000,000 1,500,000

Genoil Inc. Options Koch, Bengt 4 13/11/2013 00 250,000

Genoil Inc. Options Koch, Bengt 4 15/11/2013 50 0.015 1,750,000 1,500,000



Genoil Inc. Options Puhalac, Slobodan 4 24/03/2015 50 0.05 3,750,000 1,500,000

Genworth MI Canada Inc. Deferred Share Units Horn, Sidney M. 4 31/03/2015 46 29.43 19,187 934

Genworth MI Canada Inc. Deferred Share Units Kelly, Brian Michael 4, 7 31/03/2015 46 29.43 12,938 399

Genworth MI Canada Inc. Deferred Share Units Marsico, Samuel Dominick 4 07/07/2009 00

Genworth MI Canada Inc. Deferred Share Units Marsico, Samuel Dominick 4 31/03/2015 46 29.43 361 361

Genworth MI Canada Inc. Deferred Share Units Nicol, Heather 7 31/03/2015 46 29.43 910 318

Genworth MI Canada Inc. Deferred Share Units Walker, John Logan 7 31/03/2015 46 29.43 10,107 637

George Weston Limited Rights -Deferred Share Units

Bachand, Stephen Eugene 7 01/04/2015 30 7,482 31


Baillie, A. Charles 4 30/03/2015 56 29,972 502


Baillie, A. Charles 4 01/04/2015 30 30,094 122


Bryant, Warren 7 01/04/2015 30 7,393 30


Dart, Robert John 6 01/04/2015 30 12,290 51


Entwistle, Darren 4 30/03/2015 56 7,278 446


Entwistle, Darren 4 01/04/2015 30 7,306 28

George Weston Limited Common Shares George Weston Limited 1 23/03/2015 38 101.42 9,410 9,410

George Weston Limited Common Shares George Weston Limited 1 27/03/2015 38 0 -9,410


Graham, Anthony R. 4 30/03/2015 56 27,080 464


Graham, Anthony R. 4 01/04/2015 30 27,191 111


Lacey, John Stewart 7 30/03/2015 56 10,852 428




Marcoux, Isabelle 4 30/03/2015 56 17,007 465


Marcoux, Isabelle 4 01/04/2015 30 17,075 68


Marwah, Sarabjit 4 30/03/2015 56 3,254 465


Marwah, Sarabjit 4 01/04/2015 30 3,266 12


Nixon, Gordon Melbourne 4 30/03/2015 56 623 428


Nixon, Gordon Melbourne 4 01/04/2015 30 624 1


Prichard, John Robert Stobo 4 30/03/2015 56 29,062 630

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3493



Acquired/ Disposed


Prichard, John Robert Stobo 4 01/04/2015 30 29,180 118


Rahilly, Thomas Francis 4 30/03/2015 56 22,429 538


Rahilly, Thomas Francis 4 01/04/2015 30 22,520 91


Stymiest, Barbara Gayle 4 30/03/2015 56 7,779 390


Stymiest, Barbara Gayle 4 01/04/2015 30 7,809 30

George Weston Limited Common Shares Wasti, Rashid 5 30/03/2015 51 81.92 4,349 4,349

George Weston Limited Common Shares Wasti, Rashid 5 30/03/2015 10 102.05 0 -4,349

George Weston Limited Options Wasti, Rashid 5 30/03/2015 51 81.92 37,834 -4,349

Gibson Energy Inc. Common Shares Bantle, Rodney James 5 16/03/2015 30 38,899 6,952

Gibson Energy Inc. Restricted Share Units Bantle, Rodney James 5 17/10/2014 30 39,837 915

Gibson Energy Inc. Restricted Share Units Bantle, Rodney James 5 16/03/2015 30 30,031 -11,624

Gibson Energy Inc. Common Shares Bart, Stephen 5 16/06/2014 00

Gibson Energy Inc. Common Shares Bart, Stephen 5 31/12/2014 30 184 184

Gibson Energy Inc. Restricted Share Units Bart, Stephen 5 17/10/2014 30 5,252 50

Gibson Energy Inc. Common Shares Benson, Ralph 5 31/12/2014 30 3,033 1,292

Gibson Energy Inc. Common Shares Benson, Ralph 5 16/03/2015 30 5,606 2,573

Gibson Energy Inc. Deferred Share Units Benson, Ralph 5 17/10/2014 30 1,365 39

Gibson Energy Inc. Restricted Share Units Benson, Ralph 5 17/10/2014 30 13,925 400

Gibson Energy Inc. Restricted Share Units Benson, Ralph 5 16/03/2015 30 17,707 -3,877

Gibson Energy Inc. Common Shares Campbell, Darryl Richard 7 31/12/2014 30 28,755 1,022

Gibson Energy Inc. Common Shares Campbell, Darryl Richard 7 16/03/2015 30 33,212 4,457

Gibson Energy Inc. Restricted Share Units Campbell, Darryl Richard 7 17/10/2014 30 26,425 545

Gibson Energy Inc. Restricted Share Units Campbell, Darryl Richard 7 16/03/2015 30 17,597 -7,453

Gibson Energy Inc. Common Shares CAMPBELL, J. BRENT 7 31/12/2014 30 3,254 907

Gibson Energy Inc. Common Shares CAMPBELL, J. BRENT 7 16/03/2015 30 5,190 1,936

Gibson Energy Inc. Restricted Share Units CAMPBELL, J. BRENT 7 17/10/2014 30 30,211 443

Gibson Energy Inc. Restricted Share Units CAMPBELL, J. BRENT 7 16/03/2015 30 33,879 -3,239

Gibson Energy Inc. Deferred Share Units Cleary, James Joseph 4 17/10/2014 30 934 9

Gibson Energy Inc. Deferred Share Units Cleary, James Joseph 4 01/04/2015 56 2,749 1,310

Gibson Energy Inc. Options Cleary, James Joseph 4 01/04/2015 50 17,091 2,583

Gibson Energy Inc. Restricted Share Units Cleary, James Joseph 4 17/10/2014 30 984 37

Gibson Energy Inc. Common Shares COMTOIS, SHANE 7 31/12/2014 30 1,608 817

Gibson Energy Inc. Common Shares COMTOIS, SHANE 7 16/03/2015 30 3,814 2,206

Gibson Energy Inc. Restricted Share Units COMTOIS, SHANE 7 17/10/2014 30 25,484 414

Gibson Energy Inc. Restricted Share Units COMTOIS, SHANE 7 16/03/2015 30 29,945 -3,689

Gibson Energy Inc. Common Shares Duffee, Sean William 7 31/12/2014 30 39,146 1,177

Gibson Energy Inc. Common Shares Duffee, Sean William 7 16/03/2015 30 45,057 5,911

Gibson Energy Inc. Restricted Share Units Duffee, Sean William 7 17/10/2014 30 32,952 1,044

Gibson Energy Inc. Restricted Share Units Duffee, Sean William 7 16/03/2015 30 38,482 -9,883

Gibson Energy Inc. Restricted Share Units Duffee, Sean William 7 25/03/2015 57 35,845 -2,637

Gibson Energy Inc. Deferred Share Units Estey, James 4 17/10/2014 30 6,832 223

Gibson Energy Inc. Deferred Share Units Estey, James 4 01/04/2015 56 8,973 1,574

Gibson Energy Inc. Options Estey, James 4 01/04/2015 50 34,700 2,927

Gibson Energy Inc. Restricted Share Units Estey, James 4 17/10/2014 30 988 37

Gibson Energy Inc. Common Shares Fowlis, Donald Andrew 5 31/12/2014 30 73,309 719

Gibson Energy Inc. Common Shares Fowlis, Donald Andrew 5 16/03/2015 30 80,519 7,210

Gibson Energy Inc. Restricted Share Units Fowlis, Donald Andrew 5 17/10/2014 30 30,202 1,042

Gibson Energy Inc. Restricted Share Units Fowlis, Donald Andrew 5 16/03/2015 30 19,922 -12,055

Gibson Energy Inc. Common Shares Hanlon, Alan Stewart 4, 5 16/03/2015 30 205,789 23,459

Gibson Energy Inc. Restricted Share Units Hanlon, Alan Stewart 4, 5 17/10/2014 30 86,585 3,038

Gibson Energy Inc. Restricted Share Units Hanlon, Alan Stewart 4, 5 16/03/2015 30 81,821 -39,224

Gibson Energy Inc. Common Shares Hannah, Richard Stephen 7 31/12/2014 30 242 242

Gibson Energy Inc. Common Shares Hannah, Richard Stephen 7 16/03/2015 30 671 429

Gibson Energy Inc. Restricted Share Units Hannah, Richard Stephen 7 17/10/2014 30 7,127 216

Gibson Energy Inc. Restricted Share Units Hannah, Richard Stephen 7 16/03/2015 30 13,041 -717

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3494



Acquired/ Disposed

Gibson Energy Inc. Common Shares Harris, John A. 7 31/12/2014 30 585 296

Gibson Energy Inc. Common Shares Harris, John A. 7 16/03/2015 30 1,146 561

Gibson Energy Inc. Restricted Share Units Harris, John A. 7 17/10/2014 30 8,345 282

Gibson Energy Inc. Restricted Share Units Harris, John A. 7 16/03/2015 30 12,241 -918

Gibson Energy Inc. Deferred Share Units Ingram, Donald Richard 4 17/10/2014 30 6,423 219

Gibson Energy Inc. Deferred Share Units Ingram, Donald Richard 4 01/04/2015 56 7,193 376

Gibson Energy Inc. Options Ingram, Donald Richard 4 01/04/2015 50 29,634 2,036

Gibson Energy Inc. Restricted Share Units Ingram, Donald Richard 4 17/10/2014 30 977 37

Gibson Energy Inc. Common Shares Janzen, Frank 7 31/12/2014 30 3,002 1,281

Gibson Energy Inc. Common Shares Janzen, Frank 7 16/03/2015 30 7,523 4,521

Gibson Energy Inc. Deferred Share Units Janzen, Frank 7 17/10/2014 30 15,997 512

Gibson Energy Inc. Restricted Share Units Janzen, Frank 7 17/10/2014 30 55,635 390

Gibson Energy Inc. Restricted Share Units Janzen, Frank 7 16/03/2015 30 49,370 -7,559

Gibson Energy Inc. Common Shares Jones, Geoffery A. 7 31/12/2014 30 1,081 692

Gibson Energy Inc. Common Shares Jones, Geoffery A. 7 16/03/2015 30 1,845 764

Gibson Energy Inc. Restricted Share Units Jones, Geoffery A. 7 17/10/2014 30 11,549 389

Gibson Energy Inc. Restricted Share Units Jones, Geoffery A. 7 16/03/2015 30 18,076 -1,270

Gibson Energy Inc. Common Shares KELLY, BRENDAN G. 7 31/12/2014 30 18,250 869

Gibson Energy Inc. Common Shares KELLY, BRENDAN G. 7 16/03/2015 30 20,174 1,924

Gibson Energy Inc. Restricted Share Units KELLY, BRENDAN G. 7 17/10/2014 30 21,015 458

Gibson Energy Inc. Restricted Share Units KELLY, BRENDAN G. 7 16/03/2015 30 24,289 -3,219

Gibson Energy Inc. Common Shares KLINGER, MARTIN 7 09/12/2013 00

Gibson Energy Inc. Common Shares KLINGER, MARTIN 7 31/12/2014 30 1,038 1,038

Gibson Energy Inc. Common Shares KLINGER, MARTIN 7 16/03/2015 30 1,405 367

Gibson Energy Inc. Restricted Share Units KLINGER, MARTIN 7 17/10/2014 30 6,373 184

Gibson Energy Inc. Restricted Share Units KLINGER, MARTIN 7 16/03/2015 30 12,666 -614

Gibson Energy Inc. Common Shares Maggiano, Dominic 5 16/03/2015 30 5,932 5,481

Gibson Energy Inc. Restricted Share Units Maggiano, Dominic 5 17/10/2014 30 14,582 519

Gibson Energy Inc. Restricted Share Units Maggiano, Dominic 5 16/03/2015 30 13,911 -8,057

Gibson Energy Inc. Common Shares McGowan, Michael 7 31/12/2014 30 1,710 856

Gibson Energy Inc. Common Shares McGowan, Michael 7 16/03/2015 30 6,166 4,456

Gibson Energy Inc. Restricted Share Units McGowan, Michael 7 17/10/2014 30 13,841 483

Gibson Energy Inc. Restricted Share Units McGowan, Michael 7 16/03/2015 30 13,941 -6,649

Gibson Energy Inc. Common Shares McRae, Marshall L. 4 17/10/2014 30 2,546 475

Gibson Energy Inc. Deferred Share Units McRae, Marshall L. 4 17/10/2014 30 6,423 219

Gibson Energy Inc. Deferred Share Units McRae, Marshall L. 4 01/04/2015 56 7,945 1,128

Gibson Energy Inc. Options McRae, Marshall L. 4 01/04/2015 50 29,634 2,036

Gibson Energy Inc. Restricted Share Units McRae, Marshall L. 4 17/10/2014 30 977 37

Gibson Energy Inc. Common Shares Osatiuk, Warren Frederick 7 31/12/2014 30 17,480 954

Gibson Energy Inc. Common Shares Osatiuk, Warren Frederick 7 16/03/2015 30 21,797 4,317

Gibson Energy Inc. Restricted Share Units Osatiuk, Warren Frederick 7 17/10/2014 30 19,925 680

Gibson Energy Inc. Restricted Share Units Osatiuk, Warren Frederick 7 16/03/2015 30 13,346 -7,899

Gibson Energy Inc. Deferred Share Units Peters, Mary Ellen 4 17/10/2014 30 815 7

Gibson Energy Inc. Deferred Share Units Peters, Mary Ellen 4 01/04/2015 56 2,630 1,310

Gibson Energy Inc. Options Peters, Mary Ellen 4 01/04/2015 50 11,826 2,583

Gibson Energy Inc. Common Shares PRICE, TAMMI A. 7 17/10/2014 30 9,204 39

Gibson Energy Inc. Common Shares PRICE, TAMMI A. 7 31/12/2014 30 10,103 899

Gibson Energy Inc. Common Shares PRICE, TAMMI A. 7 16/03/2015 30 12,015 1,912

Gibson Energy Inc. Restricted Share Units PRICE, TAMMI A. 7 17/10/2014 30 19,646 442

Gibson Energy Inc. Restricted Share Units PRICE, TAMMI A. 7 16/03/2015 30 23,494 -3,198

Gibson Energy Inc. Restricted Share Units Recatto, Brian J. 7 17/10/2014 30 37,363 1,295

Gibson Energy Inc. Common Shares Russell, Shandra 5 31/12/2014 30 7,495 3,508

Gibson Energy Inc. Common Shares Russell, Shandra 5 16/03/2015 30 11,593 4,098

Gibson Energy Inc. Restricted Share Units Russell, Shandra 5 17/10/2014 30 13,616 540

Gibson Energy Inc. Restricted Share Units Russell, Shandra 5 16/03/2015 30 15,181 -6,851

Gibson Energy Inc. Common Shares Shaw, L. Joseph 7 16/03/2015 30 571 571

Gibson Energy Inc. Restricted Share Units Shaw, L. Joseph 7 17/10/2014 30 8,670 291

Gibson Energy Inc. Restricted Share Units Shaw, L. Joseph 7 16/03/2015 30 13,992 -949

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3495



Acquired/ Disposed

Gibson Energy Inc. Common Shares van Aken, Samuel 5 31/12/2014 30 73,805 615

Gibson Energy Inc. Common Shares van Aken, Samuel 5 16/03/2015 30 80,694 6,889

Gibson Energy Inc. Restricted Share Units van Aken, Samuel 5 17/10/2014 30 30,077 912

Gibson Energy Inc. Restricted Share Units van Aken, Samuel 5 16/03/2015 30 27,141 -11,518

Gibson Energy Inc. Common Shares Wenk, Wolfgang 7 31/12/2014 30 869 119

Gibson Energy Inc. Common Shares Wenk, Wolfgang 7 16/03/2015 30 963 94

Gibson Energy Inc. Restricted Share Units Wenk, Wolfgang 7 16/03/2015 30 7,010 -158

Gibson Energy Inc. Common Shares Wilford, Craig 7 31/12/2014 30 6,844 1,834

Gibson Energy Inc. Common Shares Wilford, Craig 7 16/03/2015 30 8,581 1,737

Gibson Energy Inc. Restricted Share Units Wilford, Craig 7 17/10/2014 30 8,427 280

Gibson Energy Inc. Restricted Share Units Wilford, Craig 7 16/03/2015 30 13,533 -2,905

Gibson Energy Inc. Common Shares Wilkins, Douglas Percy 5 31/12/2014 30 68,766 837

Gibson Energy Inc. Common Shares Wilkins, Douglas Percy 5 16/03/2015 30 77,490 8,724

Gibson Energy Inc. Deferred Share Units Wilkins, Douglas Percy 5 17/10/2014 30 27,025 916

Gibson Energy Inc. Restricted Share Units Wilkins, Douglas Percy 5 17/10/2014 30 41,795 1,204

Gibson Energy Inc. Restricted Share Units Wilkins, Douglas Percy 5 16/03/2015 30 42,816 -14,586

Gibson Energy Inc. Common Shares WILSON, SEAN 7 17/10/2014 30 4,574 32

Gibson Energy Inc. Common Shares WILSON, SEAN 7 31/12/2014 30 5,474 900

Gibson Energy Inc. Common Shares WILSON, SEAN 7 16/03/2015 30 7,379 1,905

Gibson Energy Inc. Restricted Share Units WILSON, SEAN 7 17/10/2014 30 30,365 438

Gibson Energy Inc. Restricted Share Units WILSON, SEAN 7 16/03/2015 30 35,191 -3,185

Gibson Energy Inc. Common Shares Wise, Richard Morgan 5 17/10/2014 30 45,793 320

Gibson Energy Inc. Common Shares Wise, Richard Morgan 5 31/12/2014 30 46,631 838

Gibson Energy Inc. Common Shares Wise, Richard Morgan 5 16/03/2015 30 54,881 8,250

Gibson Energy Inc. Restricted Share Units Wise, Richard Morgan 5 17/10/2014 30 34,396 1,182

Gibson Energy Inc. Restricted Share Units Wise, Richard Morgan 5 16/03/2015 30 35,996 -13,794

Gibson Energy Inc. Deferred Share Units Woitas, Clayton 4 01/04/2015 56 7,632 1,034

Gibson Energy Inc. Options Woitas, Clayton 4 01/04/2015 50 29,634 2,036

Gildan Activewear Inc. Common Shares Anderson, William D. 4 27/03/2015 37 30,000 15,000

Gildan Activewear Inc. Deferred Share Units (DSUs)

Anderson, William D. 4 27/03/2015 37 18,065


Anderson, William D. 4 27/03/2015 37 36,130 18,065

Gildan Activewear Inc. Common Shares Berg, Donald 4 05/02/2015 00

Gildan Activewear Inc. Common Shares Berg, Donald 4 05/02/2015 00 500

Gildan Activewear Inc. Common Shares Berg, Donald 4 27/03/2015 37 1,000 500

Gildan Activewear Inc. Common Shares Chamandy, Glenn J. 4, 5 27/03/2015 37 432,740 216,370

Gildan Activewear Inc. Common Shares Chamandy, Glenn J. 4, 5 27/03/2015 37 12,000,000 6,000,000

Gildan Activewear Inc. Options Chamandy, Glenn J. 4, 5 27/03/2015 37 1,788,360 894,180

Gildan Activewear Inc. Restricted Share Units Chamandy, Glenn J. 4, 5 31/12/2014 35 304,372 2,630

Gildan Activewear Inc. Restricted Share Units Chamandy, Glenn J. 4, 5 27/03/2015 37 189,608 94,804

Gildan Activewear Inc. Restricted Share Units Corsano, Anthony Frank 7 31/12/2014 35 50,062 387

Gildan Activewear Inc. Restricted Share Units Corsano, Anthony Frank 7 27/03/2015 37 100,124 50,062

Gildan Activewear Inc. Common Shares Echeverria, Javier 7 27/03/2015 37 14,904 7,452

Gildan Activewear Inc. Restricted Share Units Echeverria, Javier 7 31/12/2014 35 4,566 38

Gildan Activewear Inc. Restricted Share Units Echeverria, Javier 7 27/03/2015 37 9,132 4,566

Gildan Activewear Inc. Forward Purchase Cash Settled

Gildan Activewear Inc. 1 19/12/2014 70 56.851 1

Gildan Activewear Inc. Forward Purchase Cash Settled

Gildan Activewear Inc. 1 19/12/2014 70 28.364 1 1

Gildan Activewear Inc. Common Shares Goodman, Russell Andrew 4 27/03/2015 37 12,000 6,000


Goodman, Russell Andrew 4 27/03/2015 37 9,494


Goodman, Russell Andrew 4 27/03/2015 37 18,988 9,494


Hagey, Russell 4 27/03/2015 37 2,249


Hagey, Russell 4 27/03/2015 37 4,498 2,249

Gildan Activewear Inc. Common Shares Hasen, Jack 5 27/03/2015 37 1,266 633

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3496



Acquired/ Disposed

Gildan Activewear Inc. Common Shares Heller, George Jason 4 27/03/2015 37 12,000 6,000


Heller, George Jason 4 27/03/2015 37 21,756


Heller, George Jason 4 27/03/2015 37 43,512 21,756

Gildan Activewear Inc. Common Shares Hoffman, Michael 7 27/03/2015 37 79,018 39,509

Gildan Activewear Inc. Options Hoffman, Michael 7 27/03/2015 37 181,568 90,784

Gildan Activewear Inc. Restricted Share Units Hoffman, Michael 7 31/12/2014 35 18,699 282

Gildan Activewear Inc. Restricted Share Units Hoffman, Michael 7 27/03/2015 37 37,398 18,699

Gildan Activewear Inc. Common Shares Iliopoulos, Peter 5 31/12/2014 30 58.13 14,513 20

Gildan Activewear Inc. Common Shares Iliopoulos, Peter 5 27/03/2015 37 29,026 14,513

Gildan Activewear Inc. Restricted Share Units Iliopoulos, Peter 5 31/12/2014 35 7,950 72

Gildan Activewear Inc. Restricted Share Units Iliopoulos, Peter 5 27/03/2015 37 15,900 7,950

Gildan Activewear Inc. Common Shares Lavoie, Nicolas 5 31/12/2014 30 58.13 139 2

Gildan Activewear Inc. Common Shares Lavoie, Nicolas 5 27/03/2015 37 278 139

Gildan Activewear Inc. Restricted Share Units Lavoie, Nicolas 5 31/12/2014 35 6,614 37

Gildan Activewear Inc. Restricted Share Units Lavoie, Nicolas 5 27/03/2015 37 13,228 6,614

Gildan Activewear Inc. Common Shares Lehman, Eric Ralph 5 27/03/2015 37 54,440 27,220

Gildan Activewear Inc. Options Lehman, Eric Ralph 5 27/03/2015 37 155,900 77,950

Gildan Activewear Inc. Restricted Share Units Lehman, Eric Ralph 5 31/12/2014 35 18,699 242

Gildan Activewear Inc. Restricted Share Units Lehman, Eric Ralph 5 27/03/2015 37 37,398 18,699

Gildan Activewear Inc. Common Shares Masi, Benito 5 31/12/2014 30 58.13 77,809 14

Gildan Activewear Inc. Common Shares Masi, Benito 5 27/03/2015 37 139,618 69,809

Gildan Activewear Inc. Options Masi, Benito 5 27/03/2015 37 199,080 99,540

Gildan Activewear Inc. Restricted Share Units Masi, Benito 5 31/12/2014 35 18,797 156

Gildan Activewear Inc. Restricted Share Units Masi, Benito 5 27/03/2015 37 37,594 18,797

Gildan Activewear Inc. Common Shares O'Brien, Sheila 4 27/03/2015 37 20,000 10,000


O'Brien, Sheila 4 27/03/2015 37 29,048


O'Brien, Sheila 4 27/03/2015 37 58,096 29,048

Gildan Activewear Inc. Common Shares Roiter, Jonathan 5 27/03/2015 37 800 400

Gildan Activewear Inc. Options Roiter, Jonathan 5 27/03/2015 37 50,494 25,247

Gildan Activewear Inc. Restricted Share Units Roiter, Jonathan 5 31/12/2014 35 35,627 272

Gildan Activewear Inc. Restricted Share Units Roiter, Jonathan 5 27/03/2015 37 71,254 35,627

Gildan Activewear Inc. Common Shares Sellyn, Laurence G. 5 27/03/2015 37 51,598 25,799

Gildan Activewear Inc. Options Sellyn, Laurence G. 5 27/03/2015 37 28,414 14,207

Gildan Activewear Inc. Restricted Share Units Sellyn, Laurence G. 5 31/12/2014 35 16,527 1,178

Gildan Activewear Inc. Restricted Share Units Sellyn, Laurence G. 5 27/03/2015 37 33,054 16,527

Gildan Activewear Inc. Common Shares VALDES-FAULI, Gonzalo 4 27/03/2015 37 52,840 26,420


VALDES-FAULI, Gonzalo 4 27/03/2015 37 15,435


VALDES-FAULI, Gonzalo 4 27/03/2015 37 30,870 15,435

Gildan Activewear Inc. Common Shares Ward, Chuckie J. 7 31/12/2014 30 53.42 1,971 3

Gildan Activewear Inc. Common Shares Ward, Chuckie J. 7 27/03/2015 37 3,942 1,971

Gildan Activewear Inc. Restricted Share Units Ward, Chuckie J. 7 31/12/2014 35 16,772 139

Gildan Activewear Inc. Restricted Share Units Ward, Chuckie J. 7 27/03/2015 37 33,544 16,772

Gildan Activewear Inc. Common Shares Yaghi, Miro 5 31/12/2014 30 58.13 8,212 16

Gildan Activewear Inc. Common Shares Yaghi, Miro 5 27/03/2015 37 16,424 8,212

Gildan Activewear Inc. Options Yaghi, Miro 5 27/03/2015 37 4,224 2,112

Gildan Activewear Inc. Restricted Share Units Yaghi, Miro 5 31/12/2014 35 4,950 39

Gildan Activewear Inc. Restricted Share Units Yaghi, Miro 5 27/03/2015 37 9,900 4,950

Ginguro Exploration Inc. Options Heatherington, Robert Scott 4 01/04/2015 00 50,000

Ginguro Exploration Inc. Common Shares Marrelli, Carmelo 5 01/04/2015 00

Global Dividend Growers Income Fund

Trust Units Global Dividend Growers Income Fund

1 26/03/2015 38 11.93 1,550,326 400



1 30/03/2015 38 12 1,551,226 900



1 31/03/2015 38 11.925 1,561,326 10,100

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3497



Acquired/ Disposed



1 01/04/2015 38 11.771 1,563,426 2,100

Global Healthcare Dividend Fund

Trust Units Global Healthcare Dividend Fund

1 26/03/2015 38 10.794 306,600 2,700



1 31/03/2015 38 10.981 313,300 6,700



1 01/04/2015 38 10.879 316,300 3,000

Global Infrastructure Dividend Fund

Trust Units Global Infrastructure Dividend Fund

1 26/03/2015 38 9.3 692,900 1,200



1 30/03/2015 38 9.55 694,400 1,500



1 31/03/2015 38 9.479 698,400 4,000



1 01/04/2015 38 9.4 698,500 100

Gluskin Sheff + Associates Inc.

Deferred Share Units Beeston, Paul 5 31/03/2015 56 16,024 1,273


Deferred Share Units Davis, Virginia Ann 4 31/03/2015 56 796 636


Deferred Share Units Gobert, Wilfred Arthur 4 31/03/2015 56 19,597 1,037


Deferred Share Units Halperin, Stephen 4 31/03/2015 56 3,699 1,037


Deferred Share Units Lockhart, Nancy 4 31/03/2015 56 3,689 1,037


Deferred Share Units MacMillan, Thomas C. 4 31/03/2015 56 1,369 519


Deferred Share Units Solway, Herbert 4 31/03/2015 56 24,172 636


Deferred Share Units Themens, Pierre-Andre 4 31/03/2015 56 20,270 1,037

GLV Inc. Rights à la plus-value d'actions (DPVA Personnel-clé)

Someah, Kaveh Saraii 5 28/11/2014 00

GLV Inc. Rights à la plus-value d'actions (DPVA Personnel-clé)

Someah, Kaveh Saraii 5 28/11/2014 00 16,000

GMP Capital Inc. Rights Deferred Share Units (DSU)

Brown, David G. 4 31/03/2015 30 2,428 21


MACDONALD, FIONA LOUISE

4 31/03/2015 30 2,455 22


Meekison, James David 4 31/03/2015 30 2,679 24


Riley, Sanford 4 31/03/2015 30 4,909 44

Grandview Gold Inc. Common Shares Cooper, Richard 4 19/03/2015 00 62,900

Grandview Gold Inc. Common Shares Cooper, Richard 4 19/03/2015 00 1,154,335

Grandview Gold Inc. Common Shares Cooper, Richard 4 19/03/2015 00 5,178,600

Granite REIT Inc. Deferred Share Units Brody, Michael Lawrence 4 31/03/2015 56 43.49 3,780 360

Granite REIT Inc. Deferred Share Units Dey, Peter James 4 31/03/2015 56 43.49 8,165 575

Granite REIT Inc. Deferred Share Units Gilbertson, Barry Gordon 4 31/03/2015 56 43.49 7,830 733

Granite REIT Inc. Deferred Share Units Miller, Gerald 4 31/03/2015 56 43.49 3,780 360

Granite REIT Inc. Deferred Share Units Oran, Scott 4 31/03/2015 56 43.49 3,780 360

Granite REIT Inc. Deferred Share Units Voorheis, George Wesley Thomas

4 31/03/2015 56 43.49 19,683 1,811

Gravitas Financial Inc. (formerly Searchgold Resources Inc.)

Common Shares Karamadam, Vishy 3, 4, 5 27/03/2015 11 0.05 875,000 -7,875,000


Common Shares Karamadam, Vishy 3, 4, 5 27/03/2015 11 0.05 0 -1,787,500


Common Shares RANJAN, VIKAS 3, 4, 5 27/03/2015 11 0.05 875,000 -7,875,000

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3498



Acquired/ Disposed


Common Shares RANJAN, VIKAS 3, 4, 5 27/03/2015 11 0.05 0 -1,787,500

Great Canadian Gaming Corporation

Units Deferred Shares Baker, Neil W. 3, 4 01/04/2015 56 22.98 25,512 272


Units Deferred Shares Campbell, Larry William 4 01/04/2015 56 44,012 273


Units Deferred Shares Davis, Mark 4 01/04/2015 56 22.98 2,769 272


Units Deferred Shares Dimma, William 4 01/04/2015 56 22.98 27,514 408


Common Shares Doyle, Terrance Michael 5 24/03/2015 56 22.61 2,337


Common Shares Doyle, Terrance Michael 5 24/03/2015 56 22.61 2,337


Units Restricted Shares Doyle, Terrance Michael 5 12/06/2009 00


Units Restricted Shares Doyle, Terrance Michael 5 24/03/2015 56 22.61 2,337 2,337


Units Deferred Shares Gaffney, Thomas Wayne 4 01/04/2015 56 22.98 34,006 272


Units Restricted Shares Goudron, Peter 7 19/01/2004 00


Units Restricted Shares Goudron, Peter 7 24/03/2015 56 22.61 3,052 3,052


Units Deferred Shares Keilty, Karen Anne 4 01/04/2015 56 22.98 325 272


Units Deferred Shares Meredith, Peter 4 01/04/2015 56 22.98 44,011 272


Units Deferred Shares Prupas, David Lewis 4 01/04/2015 46 22.98 39,011 272

Great-West Lifeco Inc. Deferred Share Units Bibeau, Marc A. 6 31/03/2015 30 36.62 2,679 24

Great-West Lifeco Inc. Deferred Share Units Coutu, Marcel R. 4 31/03/2015 56 36.65 17,219 571

Great-West Lifeco Inc. Deferred Share Units Desmarais, André 4 31/03/2015 56 36.643 127,255 2,690

Great-West Lifeco Inc. Deferred Share Units Desmarais, Olivier 7 31/03/2015 56 36.659 1,504 459

Great-West Lifeco Inc. Deferred Share Units Desmarais, Paul III 7 31/03/2015 56 36.659 2,506 698

Great-West Lifeco Inc. Deferred Share Units Desmarais, Paul Jr. 4 31/03/2015 56 36.645 26,840 629

Great-West Lifeco Inc. Common Shares Great-West Lifeco Inc. 1 31/03/2015 38 35.948 271,700 271,700

Great-West Lifeco Inc. Common Shares Great-West Lifeco Inc. 1 31/03/2015 38 0 -271,700

Great-West Lifeco Inc. Deferred Share Units Harder, Vernon Peter 4 31/03/2015 30 36.62 4,570 41

Great-West Lifeco Inc. Deferred Share Units Hosek, Chaviva Milada 4 31/03/2015 56 36.649 15,247 473

Great-West Lifeco Inc. Deferred Share Units Jackson, John David Allan 4 31/03/2015 56 36.657 3,125 366

Great-West Lifeco Inc. Deferred Share Units Mahon, Paul 5 31/03/2015 56 36.657 39,482 1,725

Great-West Lifeco Inc. Deferred Share Units Orr, Robert Jeffrey 4, 6 31/03/2015 56 36.648 125,729 3,731

Great-West Lifeco Inc. Deferred Share Units Plessis-Bélair, Michel 4 31/03/2015 56 36.645 24,152 551

Great-West Lifeco Inc. Deferred Share Units Reynolds, Robert Lloyd 7 31/03/2015 56 36.659 1,590 433

Great-West Lifeco Inc. Deferred Share Units Rousseau, Henri-Paul 4, 6 31/03/2015 56 36.65 16,187 589

Great-West Lifeco Inc. Deferred Share Units Royer, Raymond 4 31/03/2015 56 36.651 49,285 1,982

Great-West Lifeco Inc. Deferred Share Units Ryan, Thomas Timothy, Jr. 4 31/03/2015 56 36.66 3,534 2,377

Great-West Lifeco Inc. Deferred Share Units Selitto, Jerome John 4 31/03/2015 56 36.656 5,694 470

Great-West Lifeco Inc. Deferred Share Units Szathmary, Emoke Jolan Erzsebet

4 31/03/2015 56 36.643 27,523 581

Great-West Lifeco Inc. Deferred Share Units Tretiak, Gregory Dennis 4 31/03/2015 56 36.655 8,053 592

Great-West Lifeco Inc. Deferred Share Units Vanaselja, Siim A. 4 31/03/2015 56 36.659 3,122 994

Great-West Lifeco Inc. Deferred Share Units Walsh, Brian, E. 4 31/03/2015 56 36.65 54,306 1,858

Guardian Capital Group Limited

Rights Stock Appreciation Christodoulou, Andrew Michael

4, 5 01/04/2015 56 17.304 70,970 2,890


Rights Stock Appreciation Mavroudis, George 4, 5 01/04/2015 56 17.304 702,245 23,118


Rights Stock Appreciation Turner, Matthew Dean 5 01/04/2015 56 17.304 21,943 2,890


Rights Stock Appreciation Yi, Donald 5 16/10/2006 00

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3499



Acquired/ Disposed


Rights Stock Appreciation Yi, Donald 5 01/04/2015 56 17.304 2,890 2,890

GuestLogix Inc. Units Restricted Stock Units

Branagan, Kieron James 7 22/12/2014 00


Branagan, Kieron James 7 01/04/2015 30 0.74 223,122 223,122


LEUNG, PATRICK 5 01/04/2015 30 0.74 255,895 163,514


Nguyen, Peter 7 01/04/2015 30 0.74 171,695 110,811


O'Neill, John Patrick 5 01/04/2015 30 0.74 348,223 212,999

Halogen Software Inc. Common Shares Halogen Software Inc. 1 13/03/2015 00

Hemisphere Energy Corporation

Common Shares Duncan, Ian 5 01/04/2015 10 0.32 293,026 15,500

High Liner Foods Incorporated

Rights Performance Share Units

Brown, Joanne 5 31/03/2015 30 22.58 8,085 171



Decker, Keith 5 31/03/2015 30 22.58 27,164 515



Demone, Henry 4, 5 31/03/2015 30 22.58 65,410 1,098



Dexter, Robert P. 4 31/03/2015 30 22.58 8,140 140



Dexter, Robert P. 4 31/03/2015 56 24.19 8,853 713



Jewer, Paul Allan 5 31/03/2015 30 22.58 17,321 191



Marino, Mario 5 31/03/2015 30 22.58 14,788 202



Miller, Ralph Andy 4 31/03/2015 30 22.58 3,227 53



Miller, Ralph Andy 4 31/03/2015 56 24.19 3,583 356



Rorabeck, Timothy 5 31/03/2015 30 22.58 6,167 46


Common Shares Snow, Paul 5 31/12/2014 30 22.58 20,465 331


Common Shares Snow, Paul 5 31/12/2014 30 22.58 6,406 104



Snow, Paul 5 31/03/2015 30 22.58 10,928 154

Hillcrest Petroleum Ltd. Common Shares Currie, Donald James 4, 5 31/03/2015 10 0.045 2,897,000 22,000

Hudson's Bay Company Restricted Share Units Baker, Richard Alan 4 01/10/2014 90 49,353 824










Hudson's Bay Company Restricted Share Units Baker, Richard Alan 4 01/10/2014 90 0 -824

Huldra Silver Inc. Warrants CONCEPT CAPITAL MANAGEMENT LTD

3 24/11/2014 00 29,250,000

HUSKY ENERGY INC. Common Shares Warnock, Roy Clifford 2 01/04/2015 35 25.9 22,242 254

HUSKY ENERGY INC. Common Shares Warnock, Roy Clifford 2 01/04/2015 35 25.9 84,254 964

Hydrogenics Corporation Options Cargnelli, Joseph 3, 4, 5 25/03/2015 50 77,265 12,765

Hydrogenics Corporation Performance Share Units Cargnelli, Joseph 3, 4, 5 25/03/2015 56 33,839 7,339

Hydrogenics Corporation Options Motz, Robert Martin 5 25/03/2015 50 16.14 53,107 13,631

Hydrogenics Corporation Performance Share Units Motz, Robert Martin 5 25/03/2015 56 16.14 44,323 7,838

Hydrogenics Corporation Options Westbroek, Wido Pieter 5 25/03/2015 50 40,707 5,830

Hydrogenics Corporation Performance Share Units Westbroek, Wido Pieter 5 25/03/2015 56 22,556 3,352

Hydrogenics Corporation Options Wilson, Daryl 4, 5 25/03/2015 50 209,994 24,595

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3500



Acquired/ Disposed

Hydrogenics Corporation Performance Share Units Wilson, Daryl 4, 5 25/03/2015 56 97,566 14,141

IAMGOLD Corporation Common Shares Stothart, Peter Gordon 5 31/12/2014 30 3.61 80,644 13,068

IBI Group Inc. Rights Deferred Unit Bird, Jane Marie 4 15/05/2014 00

IBI Group Inc. Rights Deferred Unit Bird, Jane Marie 4 06/01/2015 56 12,931 12,931

IBI Group Inc. Rights Deferred Unit Pill, Juri 4 15/05/2014 00

IBI Group Inc. Rights Deferred Unit Pill, Juri 4 06/01/2015 56 29,515 29,515

IBI Group Inc. Rights Deferred Unit Richmond, Dale Elson 4 06/01/2015 56 151,454 80,257

IBI Group Inc. Common Shares Stewart, Scott 4, 6 30/03/2015 10 1.385 62,300 17,000

IBI Group Inc. Convertible Debentures 7%

Stewart, Scott 4, 6 01/01/2011 00

IBI Group Inc. Convertible Debentures 7%

Stewart, Scott 4, 6 30/03/2015 10 47.95 $62,000 $62,000

IC Potash Corp. Options Himmel, Sidney Samuel 5 30/03/2015 52 -793,750 -1,750,000

Icon Exploration Inc. Common Shares Heng, Joseph, Ching-Hiang 4 18/02/2015 00

Icon Exploration Inc. Common Shares Heng, Joseph, Ching-Hiang 4 01/04/2015 97 0.05 100,000 100,000

IGM Financial Inc. Deferred Share Units Bibeau, Marc A. 4 30/01/2015 30 43.61 16,803 205

IGM Financial Inc. Deferred Share Units Bibeau, Marc A. 4 31/03/2015 56 43.61 17,536 733

IGM Financial Inc. Deferred Share Units Carney, Jeffrey 4 30/01/2015 30 43.61 3,474 36

IGM Financial Inc. Deferred Share Units Carney, Jeffrey 4 31/03/2015 56 45.36 4,080 606

IGM Financial Inc. Deferred Share Units Coutu, Marcel R. 4 30/01/2015 30 43.61 870 6

IGM Financial Inc. Deferred Share Units Coutu, Marcel R. 4 31/03/2015 56 45.36 1,334 464

IGM Financial Inc. Deferred Share Units Desmarais, André 4, 6 30/01/2015 30 43.61 44,748 561

IGM Financial Inc. Deferred Share Units Desmarais, André 4, 6 31/03/2015 56 45.36 45,470 722

IGM Financial Inc. Deferred Share Units Desmarais, André 4, 6 31/03/2015 30 43.61 561

IGM Financial Inc. Deferred Share Units Desmarais, Olivier 7 30/01/2015 30 43.61 1,309 7

IGM Financial Inc. Deferred Share Units Desmarais, Olivier 7 31/03/2015 56 45.36 1,698 389

IGM Financial Inc. Deferred Share Units Desmarais, Olivier 7 31/03/2015 30 43.61 7

IGM Financial Inc. Deferred Share Units Desmarais, Paul III 7 30/01/2015 30 43.61 1,276 8

IGM Financial Inc. Deferred Share Units Desmarais, Paul III 7 31/03/2015 56 45.36 1,882 606

IGM Financial Inc. Deferred Share Units Desmarais, Paul III 7 31/03/2015 30 43.61 8

IGM Financial Inc. Deferred Share Units Desmarais, Paul Jr. 4 30/01/2015 30 43.61 22,009 276

IGM Financial Inc. Deferred Share Units Desmarais, Paul Jr. 4 31/03/2015 56 45.36 22,370 361

IGM Financial Inc. Deferred Share Units Desmarais, Paul Jr. 4 31/03/2015 30 43.61 276

IGM Financial Inc. Deferred Share Units Harder, Vernon Peter 4 30/01/2015 30 43.61 15,919 193

IGM Financial Inc. Deferred Share Units Harder, Vernon Peter 4 31/03/2015 56 45.36 16,603 684

IGM Financial Inc. Deferred Share Units Johnson, Daniel 2 30/01/2015 30 43.61 10,706 134

IGM Financial Inc. Deferred Share Units Johnson, Daniel 2 31/03/2015 56 45.36 10,913 207

IGM Financial Inc. Deferred Share Units McCallum, John S. 4 30/01/2015 30 43.61 30,023 375

IGM Financial Inc. Deferred Share Units McCallum, John S. 4 31/03/2015 56 45.36 30,645 622

IGM Financial Inc. Deferred Share Units Orr, Robert Jeffrey 4, 6 30/01/2015 30 43.61 56,941 708

IGM Financial Inc. Deferred Share Units Orr, Robert Jeffrey 4, 6 31/03/2015 56 45.36 58,297 1,356

IGM Financial Inc. Deferred Share Units Orr, Robert Jeffrey 4, 6 31/03/2015 30 43.61 708

IGM Financial Inc. Deferred Share Units Parisien, Jacques 4 30/01/2015 30 43.61 1,558 11

IGM Financial Inc. Deferred Share Units Parisien, Jacques 4 31/03/2015 56 45.36 2,291 733

IGM Financial Inc. Deferred Share Units Piper, Roy 4 30/01/2015 30 43.61 18,571 234

IGM Financial Inc. Deferred Share Units Piper, Roy 4 31/03/2015 56 45.36 18,778 207

IGM Financial Inc. Deferred Share Units Plessis-Bélair, Michel 4 30/01/2015 30 43.61 10,426 130

IGM Financial Inc. Deferred Share Units Plessis-Bélair, Michel 4 31/03/2015 56 45.36 10,633 207

IGM Financial Inc. Deferred Share Units Rousseau, Henri-Paul 4, 6 30/01/2015 30 43.61 75

IGM Financial Inc. Deferred Share Units Rousseau, Henri-Paul 4, 6 30/01/2015 30 43.61 75

IGM Financial Inc. Deferred Share Units Rousseau, Henri-Paul 4, 6 30/01/2015 30 43.61 5,976 73

IGM Financial Inc. Deferred Share Units Rousseau, Henri-Paul 4, 6 31/03/2015 56 45.36 6,183 207

IGM Financial Inc. Deferred Share Units Sherk, Susan Bradley 4 30/01/2015 30 43.61 10,975 137

IGM Financial Inc. Deferred Share Units Sherk, Susan Bradley 4 31/03/2015 56 45.36 11,182 207

IGM Financial Inc. Deferred Share Units Taylor, Murray John 4, 5 30/01/2015 30 43.61 23,552 297

IGM Financial Inc. Deferred Share Units Taylor, Murray John 4, 5 31/03/2015 56 45.36 23,759 207

IGM Financial Inc. Deferred Share Units Tretiak, Gregory Dennis 4, 6 30/01/2015 30 43.61 2,277 26

IGM Financial Inc. Deferred Share Units Tretiak, Gregory Dennis 4, 6 31/03/2015 56 45.36 2,484 207

iLOOKABOUT Corp. Common Shares Drake, John C. 3, 4, 5 30/03/2015 36 818,941 322,580

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3501



Acquired/ Disposed

iLOOKABOUT Corp. Common Shares Drake, John C. 3, 4, 5 30/03/2015 36 827,113 8,172

iLOOKABOUT Corp. Convertible Preferred Shares Series 1

Drake, John C. 3, 4, 5 30/03/2015 36 0 -100,000

iLOOKABOUT Corp. Warrants Drake, John C. 3, 4, 5 07/04/2008 00

iLOOKABOUT Corp. Warrants Drake, John C. 3, 4, 5 30/03/2015 36 161,290 161,290

iLOOKABOUT Corp. Common Shares Dyson, Robin 5 30/03/2015 36 127,803 32,258

iLOOKABOUT Corp. Common Shares Dyson, Robin 5 30/03/2015 36 128,620 817


Dyson, Robin 5 30/03/2015 36 0 -10,000

iLOOKABOUT Corp. Warrants Dyson, Robin 5 07/04/2008 00

iLOOKABOUT Corp. Warrants Dyson, Robin 5 30/03/2015 36 16,129 16,129


Hack, Jeff 3, 4, 5 30/03/2015 36 0 -22,500

iLOOKABOUT Corp. Common Shares Hyde, Peter 4 30/03/2015 36 1,173,782 90,000

iLOOKABOUT Corp. Common Shares Hyde, Peter 4 30/03/2015 36 1,181,137 7,355


Hyde, Peter 4 30/03/2015 36 0 -90,000

iLOOKABOUT Corp. Warrants Hyde, Peter 4 13/06/2013 00

iLOOKABOUT Corp. Warrants Hyde, Peter 4 30/03/2015 36 145,161 145,161

iLOOKABOUT Corp. Common Shares Sheppard, Mark 5 30/03/2015 36 758,637 32,258

iLOOKABOUT Corp. Common Shares Sheppard, Mark 5 30/03/2015 36 759,454 817


Sheppard, Mark 5 30/03/2015 36 0 -10,000

iLOOKABOUT Corp. Warrants Sheppard, Mark 5 07/04/2008 00

iLOOKABOUT Corp. Warrants Sheppard, Mark 5 30/03/2015 36 16,129 16,129

iLOOKABOUT Corp. Common Shares Young, Jeff 3, 4, 5 30/03/2015 36 1,209,437 72,580

iLOOKABOUT Corp. Common Shares Young, Jeff 3, 4, 5 30/03/2015 36 1,211,275 1,838


Young, Jeff 3, 4, 5 30/03/2015 36 0 -22,500

iLOOKABOUT Corp. Warrants Young, Jeff 3, 4, 5 07/04/2008 00

iLOOKABOUT Corp. Warrants Young, Jeff 3, 4, 5 30/03/2015 36 36,290 36,290

Immunovaccine Inc. Common Shares SCARDINO, ALBERT JAMES

4 26/03/2015 10 0.75 3,619,897 15,500


4 27/03/2015 10 0.75 3,626,897 7,000


4 30/03/2015 10 0.75 3,647,897 21,000


4 31/03/2015 10 0.76 3,656,397 8,500


4 01/04/2015 10 0.76 3,678,397 22,000


4 01/04/2015 10 0.77 3,690,397 12,000

Imperial Oil Limited Rights Deferred Share Units

Hoeg, Krystyna 4 31/03/2015 56 21,678 743


MINTZ, JACK MAURICE 4 31/03/2015 56 17,717 733


Sutherland, David Stewart 4 31/03/2015 56 15,243 727


Whittaker, Sheelagh 4 31/03/2015 56 44,411 801


Young, Victor Leyland 4 31/03/2015 56 11,353 201

Indexplus Income Fund Trust Units INDEXPLUS Income Fund 1 27/03/2015 38 12.554 34,308,065 1,700

Indexplus Income Fund Trust Units INDEXPLUS Income Fund 1 31/03/2015 38 12.577 34,311,465 3,400

Indexplus Income Fund Trust Units INDEXPLUS Income Fund 1 01/04/2015 38 12.55 34,311,565 100

Industrial Alliance Insurance and Financial Services inc.

unités d'actions différées (uda)-differed shared units (dsa)

Boulet, Jean-François 5 31/12/2014 35 45.48 131



Boulet, Jean-François 5 31/12/2014 35 45.48 5,642 131

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3502



Acquired/ Disposed



Bourgon, Jocelyne 4 31/03/2015 56 39.94 1,771 534


Common Shares Carrothers, Douglas, Alexander

7 31/12/2014 30 45.48 6,124 28



Carrothers, Douglas, Alexander

7 31/12/2014 35 45.48 2,302 53



Charest, Yvon 4, 5 31/12/2014 35 45.48 79,091 1,832


Unites d'actions liees au rendement / Performance Share Unit

Charest, Yvon 4, 5 31/12/2014 35 44.29 20,144 815



Chicoyne, Denyse 4 31/03/2015 56 39.94 1,829 578



Coallier, Robert 4 31/03/2015 56 39.94 395 164



Daneau, Guy 5 31/12/2014 35 45.48 3,936 91


Common Shares Gadbois, L.G. Serge 4 31/12/2014 30 45.48 372


Common Shares Gadbois, L.G. Serge 4 31/12/2014 30 45.48 372


Common Shares Gadbois, L.G. Serge 4 31/12/2014 30 45.48 15,868 372



Gadbois, L.G. Serge 4 31/03/2015 56 39.94 7,095 221


Common Shares LeBoutillier, John 4 31/12/2014 30 45.48 33,898 85



LeBoutillier, John 4 31/03/2015 56 39.94 27,682 713



McGuire, Francis Phillip 4 31/12/2014 35 45.48 28,781 336


Common Shares Michaud, Bruno 5 31/12/2014 30 45.48 2,588 66



Michaud, Bruno 5 31/12/2014 35 45.48 6,948 161



Michaud, Bruno 5 31/12/2014 35 44.29 4,039 163


Common Shares Morin, Danielle G. 4 31/12/2014 30 45.48 18


Common Shares Morin, Danielle G. 4 31/12/2014 30 45.48 2,018 18



Morin, Danielle G. 4 31/03/2015 56 39.94 1,356 413



Pantelidis, James 4 31/12/2014 35 45.48 24,781 290



Parent, Jacques 5 31/12/2014 35 45.48 1,688 39



Pépin, Normand 5 31/12/2014 35 45.48 52,908 1,225



Pépin, Normand 5 31/12/2014 35 44.29 13,651 552



Ricard, Denis 5 31/12/2014 35 45.48 16,450 381

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3503



Acquired/ Disposed



Ricard, Denis 5 31/12/2014 35 44.29 8,253 332



Ritchie, Mary 4 31/12/2014 35 45.48 4,359 101



Sauvageau, Yvon 5 31/12/2014 35 45.48 5,030 117



Stickney, Michael Lee 5 31/12/2014 35 45.48 1,043 24



Stickney, Michael Lee 5 31/12/2014 35 44.29 8,222 284



Tremblay, Michel 5 31/12/2014 35 44.29 13,019 526

Innergex Renewable Energy Inc.

Common Shares de Batz de Trenquelléon, Renaud

5 30/03/2015 10 11.145 81,374 -4,200



5 30/03/2015 10 11.2 76,374 -5,000



5 31/03/2015 10 11.1 71,374 -5,000

InnVest Real Estate Investment Trust

Rights Deferred Units Boomer, Edward 4 01/04/2015 56 17,648 3,910


Rights Deferred Units Boomer, Edward 4 01/04/2015 30 17,860 212


Rights Deferred Units Irwin, Heather-Ann 4 01/04/2015 56 21,570 4,779


Rights Deferred Units Irwin, Heather-Ann 4 01/04/2015 30 21,829 259


Trust Units KingSett Real Estate Growth LP No. 5

3 30/03/2015 10 5.6962 19,739,967 7,600



3 31/03/2015 10 5.7371 19,752,367 12,400



3 01/04/2015 10 5.7474 19,760,467 8,100



3 02/04/2015 10 5.7055 19,818,667 58,200


Rights Deferred Units Lewis, Daniel Seth 4, 6 01/04/2015 56 24,608 4,779


Rights Deferred Units Lewis, Daniel Seth 4, 6 01/04/2015 30 24,920 312


Rights Deferred Units Love, Jon E. 4 01/04/2015 56 19,167 3,910


Rights Deferred Units Love, Jon E. 4 01/04/2015 30 19,405 238


Trust Units Love, Jon E. 4 30/03/2015 10 5.6962 19,739,967 7,600








Rights Deferred Units Mangalji, Fereed Sadrudin 4 01/04/2015 56 17,648 3,910


Rights Deferred Units Mangalji, Fereed Sadrudin 4 01/04/2015 30 17,860 212


Rights Deferred Units Mangalji, Majid 5 01/04/2015 56 21,570 4,779


Rights Deferred Units Mangalji, Majid 5 01/04/2015 30 21,829 259


Rights Deferred Units McFarlane, Robert Gordon 4 01/04/2015 30 19,372 297


Rights Deferred Units McFarlane, Robert Gordon 4 01/04/2015 56 5.75 24,369 4,997

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3504



Acquired/ Disposed


Rights Deferred Units Wolf, Robert Thomas 4 01/04/2015 56 20,297 4,779


Rights Deferred Units Wolf, Robert Thomas 4 01/04/2015 30 20,538 241

Inovalis Real Estate Investment Trust

Exchangeable Securities Inovalis S.A. 3 31/03/2015 46 9.14 2,113,494 70,147

Intact Financial Corporation Stock Incentives Anderson, Kenneth 5 31/12/2014 30 72.43 1,473 37

Intact Financial Corporation Stock Incentives Anderson, Kenneth 5 31/12/2014 30 72.43 983 35

Intact Financial Corporation Stock Incentives Barbeau, Patrick 5 31/12/2014 30 72.43 2,466 63

Intact Financial Corporation Stock Incentives Barbeau, Patrick 5 31/12/2014 30 72.43 1,643 45

Intact Financial Corporation Common Shares Federau, Monika 5 31/12/2014 30 72.43 3,349 82

Intact Financial Corporation Stock Incentives Federau, Monika 5 31/12/2014 30 72.43 3,025 77

Intact Financial Corporation Stock Incentives Federau, Monika 5 31/12/2014 30 72.43 2,017 52

Intact Financial Corporation Stock Incentives Marcotte, Louis 5 31/12/2014 30 72.43 4,311 110

Intact Financial Corporation Stock Incentives Marcotte, Louis 5 31/12/2014 30 72.43 2,875 87

INTEGRATED ASSET MANAGEMENT CORP.

Common Shares Felkai, Tom 8 27/03/2015 30 0.99 56,300 30,300


Common Shares Johnson, Stephen 4, 6, 7, 5 31/03/2015 30 0.99 1,503,392 30,000


Common Shares Koloshuk Farrugia Corp. 3 31/03/2015 30 0.99 9,391,241 30,300


Common Shares Robertson, John 4, 7 02/04/2015 10 1 3,580 3,580


Common Shares Robson, Philip Spencer 7 31/03/2015 30 0.99 153,305 30,300


Common Shares Zagrodny, Richard 7 24/06/1999 00


Common Shares Zagrodny, Richard 7 31/03/2015 30 0.99 30,300 30,300

IntelGenx Technologies Corp.

Options Boudreau, James Bernard 4 02/04/2015 50 0.62 50,000


Options Boudreau, James Bernard 4 02/04/2015 50 0.78 217,500 50,000


Options Durham, John Edward 5 01/01/2015 00


Options Durham, John Edward 5 02/04/2015 50 0.78 100,000 100,000


Options Marinucci, Giovanni (John) 4 02/04/2015 50 0.78 125,000 50,000


Options Melchers, Bernd Josef 4 02/04/2015 50 0.78 150,000 50,000


Options Troup, John Archibald 4 02/04/2015 50 0.78 150,000 50,000

Interfor Corporation Rights DSUs HERBERT, PAUL 4 31/03/2015 56 3,613 1,613

Interfor Corporation Rights DSUs HULL, JEANE 4 31/03/2015 56 3,613 1,613

Interfor Corporation Rights DSUs Lynch, Peter Matthew 4 31/03/2015 56 63,323 1,634

Interfor Corporation Rights DSUs MacDougall, Gordon H 4 31/03/2015 56 63,323 1,634

Interfor Corporation Rights DSUs McMillan, James Eddie 4 31/03/2015 56 22,361 1,634

Interfor Corporation Rights DSUs Mittag, Andrew K. 4 31/03/2015 56 5,291 1,291

Interfor Corporation Rights DSUs Sauder, E. Lawrence 4, 5 31/03/2015 56 37,936 1,936

Interfor Corporation Rights DSUs Thomson, Scott 4 31/03/2015 56 8,177 968

Interfor Corporation Rights DSUs Whitehead, Douglas William Geoffrey

4 31/03/2015 56 20,916 968

InterOil Corporation Rights Performance Share Units

Applegate, Geoffrey David 5 11/03/2015 56 13,674 3,604

InterOil Corporation Rights Performance Share Units

Ozturgut, Can Metin 5 11/03/2015 56 15,622 2,402

InterRent Real Estate Investment Trust

Deferred Units Amirault, Paul 4 31/03/2015 56 104,218 3,253


Deferred Units Bouzanis, Paul 4 31/03/2015 56 160,525 5,290


Deferred Units Bouzanis, Paul 4 01/04/2015 57 146,184 -14,341


Trust Units Bouzanis, Paul 4 01/04/2015 57 259,504 14,341

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3505



Acquired/ Disposed


Deferred Units Leslie, Ronald A. 4 31/03/2015 56 77,931 3,585


Deferred Units Levinson, Jacie Sydney 4 31/03/2015 56 145,582 5,748


Deferred Units Millar, Curt 5 30/03/2015 57 144,785 -5,000


Deferred Units Millar, Curt 5 30/03/2015 59 141,829 -2,956


Options Millar, Curt 5 30/03/2015 51 95,000 -35,000


Trust Units Millar, Curt 5 30/03/2015 57 148,583 5,000


Trust Units Millar, Curt 5 30/03/2015 51 2.13 183,583 35,000


Deferred Units Stone, Victor Reginald 4 31/03/2015 56 86,578 3,616

Ivanhoe Mines Ltd. Rights Deferred Share Unit

Cockerill, Ian 4 01/04/2015 56 34,759 6,578


de Selliers de Moranville, Guy Jacques

4 01/04/2015 56 34,759 6,578


Faber, Marc 4 01/04/2015 56 34,759 6,578


Hayden, William 4 01/04/2015 56 34,759 6,578


Hushovd, Oyvind 4 01/04/2015 56 34,759 6,578


Lamarque, William Gilfillan 4 01/04/2015 56 34,759 6,578

Ivanhoe Mines Ltd. Common Shares Class A Mahler, Livia 4 26/03/2015 00

Ivanhoe Mines Ltd. Options Mahler, Livia 4 26/03/2015 00


Mahler, Livia 4 26/03/2015 00


Mahler, Livia 4 01/04/2015 56 6,578 6,578


Meredith, Peter 4 01/04/2015 56 34,759 6,578


Russell, Charles J.G. 4 01/04/2015 56 34,759 6,578

Journey Energy Inc. Common Shares Gilewicz, Gerald 5 19/06/2014 00

Journey Energy Inc. Common Shares Gilewicz, Gerald 5 12/08/2014 30 11.51 1,028 1,028

Journey Energy Inc. Common Shares Gilewicz, Gerald 5 13/08/2014 30 11.32 1,292 264





Just Energy Group Inc. Convertible Debentures JE.DB ($330M)

Just Energy Group Inc 1 02/03/2015 38 $1,050 $1,050


Just Energy Group Inc 1 02/03/2015 38 $0 -$1,050


Just Energy Group Inc 1 03/03/2015 38 $410 $410


Just Energy Group Inc 1 03/03/2015 38 $0 -$410













Insider Reporting

April 9, 2015

(2015), 38 OSCB 3506



Acquired/ Disposed

































































Kelso Technologies Inc. Common Shares Andrukaitis, Anthony 4, 5 02/04/2015 10 4.21 122,000 -7,500

Kelt Exploration Ltd. Common Shares Lalani, Sadiq 5 31/03/2015 30 7.33 2,022 660

Keyera Corp. Common Shares Balzun, Graham Charles 5 01/04/2015 37 36,532 18,266

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3507



Acquired/ Disposed

Keyera Corp. Rights Share Awards Balzun, Graham Charles 5 01/04/2015 37 32,400 16,200

Keyera Corp. Common Shares Bertram, James Vance 4, 5 01/04/2015 37 748,516 374,258

Keyera Corp. Rights Share Awards Bertram, James Vance 4, 5 01/04/2015 37 129,352 64,676

Keyera Corp. Common Shares Catell, Robert B. 4 01/04/2015 37 62,898 31,449

Keyera Corp. Common Shares Cobb, John 5 01/04/2015 37 31,538 15,769

Keyera Corp. Common Shares Cobb, John 5 01/04/2015 37 838 419

Keyera Corp. Common Shares Cobb, John 5 01/04/2015 37 4,770 2,385

Keyera Corp. Common Shares Cobb, John 5 01/04/2015 37 976 488

Keyera Corp. Rights Share Awards Cobb, John 5 01/04/2015 37 19,932 9,966

Keyera Corp. Common Shares Freeman, Michael Andrew 5 01/04/2015 37 62,588 31,294

Keyera Corp. Rights Share Awards Freeman, Michael Andrew 5 01/04/2015 37 31,000 15,500

Keyera Corp. Common Shares Hathaway, Suzanne 5 01/04/2015 37 13,510 6,755

Keyera Corp. Rights Share Awards Hathaway, Suzanne 5 01/04/2015 37 29,800 14,900

Keyera Corp. Common Shares Haughey, Douglas J. 4 01/04/2015 37 9,196 4,598

Keyera Corp. Common Shares Hunter, James Richard 5 01/04/2015 37 32,806 16,403

Keyera Corp. Common Shares Hunter, James Richard 5 01/04/2015 37 20,676 10,338

Keyera Corp. Rights Share Awards Hunter, James Richard 5 01/04/2015 37 24,800 12,400

Keyera Corp. Common Shares Kostiuk, Dion Otto 5 01/04/2015 37 4,482 2,241

Keyera Corp. Rights Share Awards Kostiuk, Dion Otto 5 01/04/2015 37 20,332 10,166

Keyera Corp. Common Shares Kroeker, Steven Barney 5 01/04/2015 37 61,542 30,771

Keyera Corp. Rights Share Awards Kroeker, Steven Barney 5 01/04/2015 37 48,400 24,200

Keyera Corp. Common Shares Laird, Nancy M. 4 01/04/2015 37 53,826 26,913

Keyera Corp. Common Shares Lock, Bradley Wayne 5 01/04/2015 37 120,482 60,241

Keyera Corp. Rights Share Awards Lock, Bradley Wayne 5 01/04/2015 37 52,200 26,100

Keyera Corp. Common Shares Marikar, Eileen 5 01/04/2015 37 3,188 1,594

Keyera Corp. Rights Share Awards Marikar, Eileen 5 01/04/2015 37 14,402 7,201

Keyera Corp. Common Shares Martin, Brian 5 01/04/2015 37 17,082 8,541

Keyera Corp. Rights Share Awards Martin, Brian 5 01/04/2015 37 15,500 7,750

Keyera Corp. Common Shares Nelson, Donald J. 4 01/04/2015 37 70,072 35,036

Keyera Corp. Common Shares Nelson, Donald J. 4 01/04/2015 37 5,856 2,928

Keyera Corp. Common Shares Nichols, H. Neil 4 01/04/2015 37 72,218 36,109

Keyera Corp. Common Shares Norris, Michael John 4 01/04/2015 37 5,536 2,768

Keyera Corp. Common Shares O'Connor, Thomas C. 4 01/04/2015 37 5,000 2,500

Keyera Corp. Common Shares Setoguchi, Curtis Dean 5 01/04/2015 37 146,326 73,163

Keyera Corp. Rights Share Awards Setoguchi, Curtis Dean 5 01/04/2015 37 33,200 16,600

Keyera Corp. Common Shares Smith, David G. 5 01/04/2015 37 409,600 204,800

Keyera Corp. Common Shares Smith, David G. 5 01/04/2015 37 40,000 20,000

Keyera Corp. Rights Share Awards Smith, David G. 5 01/04/2015 37 104,700 52,350

Keyera Corp. Common Shares Stedman, William Richard 4 01/04/2015 37 110,222 55,111

Killam Properties Inc. Common Shares Lawley, James C. 4 09/05/2004 00

Killam Properties Inc. Common Shares Lawley, James C. 4 31/03/2015 45 10.984 546,274 546,274

Killam Properties Inc. Common Shares Lloyd, Arthur G. 4 30/03/2015 57 10.95 138,095 1,057

Killam Properties Inc. Rights RSU Lloyd, Arthur G. 4 30/03/2015 57 12,412 -1,736

Kingsway Financial Services Inc.

Common Shares Baqar, Hassan Raza 5 31/03/2015 10 5.798 28,244 124


Common Shares Hickey, William A. 5 31/03/2015 10 5.798 55,752 260


Common Shares Swets, Jr., Larry Gene 4, 5 31/03/2015 10 5.798 663,526 359

Kinross Gold Corporation Rights Deferred Share Units

Brough, John A. 4 31/03/2015 46 2.81 111,827 13,123


Carrington, John Kemp 4 31/03/2015 46 2.81 178,643 10,676


Huxley, John M.H. 4 31/03/2015 46 2.81 134,172 12,233


Keyes, John A. 4 31/03/2015 46 2.81 137,046 10,009


McLeod-Seltzer, Catherine 4 31/03/2015 46 2.81 104,234 11,343


Oliver, John Edwin 4, 5 31/03/2015 46 2.81 232,573 19,795

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3508



Acquired/ Disposed


Power, Una Marie 4 31/03/2015 46 2.81 115,028 21,797


Reid, Terence C. W. 4 31/03/2015 46 2.81 211,211 21,797


Woods, Ruth Grace 4 31/03/2015 46 2.81 112,680 21,352

Kirkland Precious Metals Corp.

Options Peter-Kaiser, Eric 4 30/03/2015 50 80,000 65,000

Kirkland Precious Metals Corp.

Options von Kursell, Andrew 4 30/03/2015 50 0.05 135,000 70,000

Kobex Capital Corp. Common Shares Altius Minerals Corporation 3 31/03/2015 00

Kobex Capital Corp. Common Shares Altius Minerals Corporation 3 31/03/2015 11 0.49 5,328,500 5,328,500

Kobex Capital Corp. Common Shares Altius Minerals Corporation 3 01/04/2015 00

Kobex Capital Corp. Common Shares van Eeden, Paul Pieter 4 31/03/2015 11 0.49 0 -5,328,500

Kobex Capital Corp. Common Shares Wells, Chad 6 31/03/2015 00

Kobex Capital Corp. Common Shares Wells, Chad 6 31/03/2015 00 5,000

KP Tissue Inc. Common Shares Fitzgerald, Marc James 7 26/03/2015 10 16.42 2,500 1,500

Lago Dourado Minerals Ltd. Options D'Aloisio, Paul Edward 5 01/04/2015 37 3.5 370,000 -180,000

Lago Dourado Minerals Ltd. Options D'Aloisio, Paul Edward 5 01/04/2015 37 6 280,000 -90,000



Lago Dourado Minerals Ltd. Common Shares Douglas, Jon Alexander 4 01/04/2015 37 5,000 -45,000

Lago Dourado Minerals Ltd. Options Douglas, Jon Alexander 4 01/04/2015 37 2.5 475,000 -225,000

Lago Dourado Minerals Ltd. Options Douglas, Jon Alexander 4 01/04/2015 37 6 295,000 -180,000



Lago Dourado Minerals Ltd. Options Drake, Shaun Anthony 5 01/04/2015 37 6 52,000 -18,000



Lago Dourado Minerals Ltd. Common Shares Gemmell, Forbes 5 01/04/2015 37 30,000 -270,000

Lago Dourado Minerals Ltd. Options Gemmell, Forbes 5 01/04/2015 37 3.5 910,000 -540,000

Lago Dourado Minerals Ltd. Options Gemmell, Forbes 5 01/04/2015 37 6 550,000 -360,000



Lago Dourado Minerals Ltd. Common Shares McCarthy, Michele, Daphne 4 01/04/2015 37 4,285 -38,572

Lago Dourado Minerals Ltd. Options McCarthy, Michele, Daphne 4 01/04/2015 37 2.5 475,000 -225,000

Lago Dourado Minerals Ltd. Options McCarthy, Michele, Daphne 4 01/04/2015 37 6 295,000 -180,000



Lago Dourado Minerals Ltd. Warrants McCarthy, Michele, Daphne 4 12/07/2012 55 0 -21,428

Lago Dourado Minerals Ltd. Common Shares Noone, Daniel Joseph 4 01/04/2015 37 102,300 -920,700

Lago Dourado Minerals Ltd. Options Noone, Daniel Joseph 4 01/04/2015 37 3.5 475,000 -225,000

Lago Dourado Minerals Ltd. Options Noone, Daniel Joseph 4 01/04/2015 37 6 295,000 -180,000



Lago Dourado Minerals Ltd. Warrants Noone, Daniel Joseph 4 12/07/2012 55 0 -50,000

Lake Shore Gold Corp. Rights Deferred Share Units

Gill, Jonathan 4 01/04/2015 56 537,002 10,526

Lake Shore Gold Corp. Rights Deferred Share Units

Hibbard, Ingrid Jo-Ann 4 01/04/2015 56 63,962 7,953

Lanesborough Real Estate Investment Trust

Debentures Series G Lanesborough Real Estate Investment Trust

1 27/03/2015 38 $0 -$4,000

Laramide Resources Ltd. Common Shares Henderson, Marc Charles 3, 4, 5 23/03/2015 10 0.22 8,119,597 50,000

Largo Resources Ltd. Convertible Notes Arias, J. Alberto 4 27/03/2015 11 1.01 $105,720

Largo Resources Ltd. Convertible Notes Arias, J. Alberto 4 27/03/2015 11 1.01 $105,720

Largo Resources Ltd. Convertible Notes Arias, J. Alberto 4 27/03/2015 11 1.01 $211,440 $105,720

Largo Resources Ltd. Convertible Notes Arias, J. Alberto 4 27/03/2015 11 1.01 $1,863,327

Largo Resources Ltd. Convertible Notes Arias, J. Alberto 4 27/03/2015 11 1.01 $1,863,327

Largo Resources Ltd. Convertible Notes Arias, J. Alberto 4 27/03/2015 11 1.01 $3,726,654 $1,863,327

Largo Resources Ltd. Convertible Notes Arias, J. Alberto 4 27/03/2015 11 1.01 $2,061,906 $1,030,953

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3509



Acquired/ Disposed

Leisureworld Senior Care Corporation

Restricted Share Units ANNABLE, MICHAEL 5 14/03/2014 30 1,659 10




















Deferred Share Units Chiesa, Dino 4, 5 15/01/2014 30 90,257 592






Deferred Share Units Chiesa, Dino 4, 5 01/04/2014 56 93,207 1,847


























Common Shares Cormack, Lois 5 25/03/2015 57 14.714 59,692 2,897


Restricted Share Units Cormack, Lois 5 14/03/2014 30 6,947 42











Insider Reporting

April 9, 2015

(2015), 38 OSCB 3510



Acquired/ Disposed










Restricted Share Units Cormack, Lois 5 25/03/2015 57 15,948 -2,897


Deferred Share Units Graham, Janet 4 15/01/2014 30 10,971 72






Deferred Share Units Graham, Janet 4 01/04/2014 56 12,542 1,437


























Restricted Share Units Hirji, Raheem 5 15/01/2014 30 2,541 17























Insider Reporting

April 9, 2015

(2015), 38 OSCB 3511



Acquired/ Disposed


Restricted Share Units Hirji, Raheem 5 15/01/2015 30 17


Restricted Share Units Hirji, Raheem 5 15/01/2015 30 17


Common Shares Jourdain Coleman, Paula 4 05/02/2014 00 16,000


Common Shares Jourdain Coleman, Paula 4 05/02/2014 00


Common Shares Jourdain Coleman, Paula 4 05/02/2014 00


Common Shares Jourdain Coleman, Paula 4 05/02/2014 00 3,070


Common Shares Jourdain Coleman, Paula 4 14/02/2014 10 12.182 3,088 18




























Deferred Share Units Jourdain Coleman, Paula 4 05/02/2014 00


Deferred Share Units Jourdain Coleman, Paula 4 01/04/2014 56 627 627








Deferred Share Units Jourdain Coleman, Paula 4 02/07/2014 56 1,604 965















Insider Reporting

April 9, 2015

(2015), 38 OSCB 3512



Acquired/ Disposed




Deferred Share Units MacDonald, Jack C. 4 15/01/2014 30 7,838 51






Deferred Share Units MacDonald, Jack C. 4 01/04/2014 56 8,959 1,026


























Deferred Share Units McLaughlin, John Gordon 4 15/01/2014 30 22,230 146






Deferred Share Units McLaughlin, John Gordon 4 01/04/2014 56 23,836 1,334

























Lexaria Corp. Common Shares Bunka, Christopher 4, 5 30/03/2015 10 0.094 3,142,794 11,000

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3513



Acquired/ Disposed

Lexaria Corp. Common Shares Bunka, Christopher 4, 5 30/03/2015 10 0.09 3,188,794 46,000

LGX Oil + Gas Inc. Common Shares Miller, III, Lloyd I. 3 27/03/2015 10 0.047 713,500 -400,000

LGX Oil + Gas Inc. Common Shares Miller, III, Lloyd I. 3 31/03/2015 10 0.0503 648,500 -65,000

Lightstream Resources Ltd. Common Shares Themig, Daniel 4 31/12/2014 30 5.57 275,044 12,990

Linamar Corporation Common Shares McDougall, Kenneth 5 27/03/2015 50 76.34 9,039 539

Linamar Corporation Common Shares Merchant, Christopher John 5 27/03/2015 10 76.34 270 270

Linamar Corporation Common Shares Russell, Michael Willard 5 27/03/2015 10 76.34 270 270

LIONS GATE ENTERTAINMENT CORP.

Common Shares Giustra, Frank 4 01/04/2015 46 33.36 110,191 263


Common Shares Levin, Wayne 5 31/03/2015 11 131,150 33,334


Common Shares Levin, Wayne 5 31/03/2015 30 33.92 113,881 -17,269


Options Levin, Wayne 5 31/03/2015 50 58,334


Options Levin, Wayne 5 31/03/2015 50 58,334


Options Non-Qualified Stock Option (right to buy)

Levin, Wayne 5 31/03/2015 50 233,334 58,334


Common Shares Rachesky, Dr. Mark H. 3, 4, 6 09/09/2014 46 1,520


Common Shares Rachesky, Dr. Mark H. 3, 4, 6 09/09/2014 99 -1,520


Common Shares Rachesky, Dr. Mark H. 3, 4, 6 09/09/2014 99 -1,520


Common Shares Rachesky, Dr. Mark H. 3, 4, 6 01/04/2015 46 52,648 959


Units - Restricted Share Rachesky, Dr. Mark H. 3, 4, 6 09/09/2014 99 5,007 1,520

Liquor Stores N.A. Ltd. Rights Long Term Incentive Plan

Bebis, Stephen 5 31/12/2014 30 6,142


Bebis, Stephen 5 31/12/2014 30 69,938 6,142


Bebis, Stephen 5 27/03/2015 59 14.96 55,594 -14,344

Liquor Stores N.A. Ltd. Rights Performance Share Units One-time Grant

Bebis, Stephen 5 31/12/2014 30 334


Bebis, Stephen 5 31/12/2014 30 53,913 334

Liquor Stores N.A. Ltd. Rights Rights Performance Share Units

Bebis, Stephen 5 09/03/2015 56 14.15 60,947

Liquor Stores N.A. Ltd. Rights Rights Performance Share Units

Bebis, Stephen 5 09/03/2015 56 14.15 28,738 28,738

Liquor Stores N.A. Ltd. Annual Deferred Shares (Common Shares)

Bereznicki, Henry Andrew 4 31/12/2014 30 3,018 361


Cobb, Erika 5 31/12/2014 30 385


Cobb, Erika 5 31/12/2014 30 6,729 385


Cobb, Erika 5 31/12/2014 30 71


Cobb, Erika 5 31/12/2014 30 11,446 71


Collins, Gary 4 31/12/2014 30 4,937 733


Dinning, James Francis 4 31/12/2014 30 11,650 2,135


Fremstad, Jason Paul 5 31/12/2014 30 412


Fremstad, Jason Paul 5 31/12/2014 30 7,209 412


Fremstad, Jason Paul 5 31/12/2014 30 71


Fremstad, Jason Paul 5 31/12/2014 30 11,446 71

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3514



Acquired/ Disposed


Gordey, David Nathan 5 31/12/2014 30 137


Gordey, David Nathan 5 31/12/2014 30 1,063 137





Liquor Stores N.A. Ltd. Rights Restricted Share Units





Green, Robert Steven 4 31/12/2014 30 5,218 1,014


Margolus, David Benjamin 4 31/12/2014 30 4,822 618


Renz, Catherine Lieske 5 31/12/2014 30 67


Renz, Catherine Lieske 5 31/12/2014 30 10,948 67


Renz, Catherine Lieske 5 31/12/2014 30 17


Renz, Catherine Lieske 5 31/12/2014 30 2,926 17


Rop, Steve 5 31/12/2014 30 687


Rop, Steve 5 31/12/2014 30 12,015 687


Rop, Steve 5 31/12/2014 30 77


Rop, Steve 5 31/12/2014 30 12,441 77


Yaworski, James 5 31/12/2014 30 41


Yaworski, James 5 31/12/2014 30 6,586 41

Loblaw Companies Limited Rights - Deferred Share Units





Beeston, Paul 4 30/03/2015 56 36,518 716


Beeston, Paul 4 01/04/2015 30 36,657 139


Binning, Paviter Singh 4, 6 01/04/2015 30 2,998 12


Bryant, Warren 4 30/03/2015 56 6,196 746


Bryant, Warren 4 01/04/2015 30 6,217 21


Fell, Anthony S. 6 01/04/2015 30 45,588 177


Graham, Anthony R. 4 30/03/2015 56 40,072 745


Graham, Anthony R. 4 01/04/2015 30 40,225 153


Kluge, Holger 4 30/03/2015 56 42,674 745


Kluge, Holger 4 01/04/2015 30 42,682 8


Kluge, Holger 4 01/04/2015 30 42,838 156





Loblaw Companies Limited Common Shares Loblaw Companies Limited 1 18/03/2015 38 63.446 31,400 31,400

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3515



Acquired/ Disposed

Loblaw Companies Limited Common Shares Loblaw Companies Limited 1 19/03/2015 38 63.024 79,400 48,000

Loblaw Companies Limited Common Shares Loblaw Companies Limited 1 27/03/2015 38 0 -79,400


Lockhart, Nancy 4 30/03/2015 56 38,161 775


Lockhart, Nancy 4 01/04/2015 30 38,306 145


O'Neill, Thomas Charles 4 30/03/2015 56 28,060 1,040


O'Neill, Thomas Charles 4 01/04/2015 30 28,165 105


Pritchard, Beth Marie 4 30/03/2015 56 7,218 716






Raiss, Sarah 4 30/03/2015 56 19,762 716


Raiss, Sarah 4 01/04/2015 30 19,770 8


Raiss, Sarah 4 01/04/2015 30 19,837 67

Logistec Corporation Common Shares Class A LOGISTEC CORPORATION

1 01/04/2015 38 50 1,000 1,000

Logistec Corporation Subordinate Voting Shares Class B

LOGISTEC CORPORATION

1 30/03/2015 38 35.1 9,500 1,000



1 31/03/2015 38 35.52 10,500 1,000



1 01/04/2015 38 2,000 -8,500

Lumenpulse Inc. Common Shares Roy, Yvon 5 31/03/2015 51 4.45 300 300

Lumenpulse Inc. Common Shares Roy, Yvon 5 31/03/2015 10 14.3 0 -300





Lumenpulse Inc. Options Roy, Yvon 5 31/03/2015 51 26,914 -300



Lundin Gold Inc. Common Shares See, Chester 5 01/09/2013 00

Lundin Gold Inc. Common Shares See, Chester 5 02/04/2015 51 4.01 10,000 10,000

Lundin Gold Inc. Options See, Chester 5 02/04/2015 51 4.01 185,000 -10,000

Lupaka Gold Corp. Common Shares Courtnall, Geoffrey 7 31/03/2015 10 0.12 498,200 135,000

Lupaka Gold Corp. Common Shares Courtnall, Geoffrey 7 01/04/2015 10 0.135 508,200 10,000

Lupaka Gold Corp. Common Shares Edwards, Eric Harrison 4 01/04/2015 10 0.13 1,152,507 3,000

Macarthur Minerals Limited Common Shares Options Patricio, Richard J 4 02/04/2015 38 0.25 0 -150,000

MacDonald, Dettwiler and Associates Ltd.

Common Shares Celli, John 7 02/11/2012 00


Common Shares Celli, John 7 26/03/2015 10 95.58 1,950 1,950


(DSUs, DRSUs, SARs) Chambers, Thomas S. 4 31/03/2015 46 14,900 56


(DSUs, DRSUs, SARs) Chookaszian, Dennis 4 31/03/2015 46 13,475 233


(DSUs, DRSUs, SARs) Kenning, Brian Graham 4 31/03/2015 46 9,896 37


(DSUs, DRSUs, SARs) Phillips, Robert L. 4 31/03/2015 46 21,653 435


(DSUs, DRSUs, SARs) Salloum, Fares Fouad 4 31/03/2015 46 11,049 41


(DSUs, DRSUs, SARs) Zahler, Eric 4 31/03/2015 46 1,167 308

Macusani Yellowcake Inc. Common Shares Disbrow, Robert 3 31/03/2015 10 0.055 16,370,286 85,714

Madalena Energy Inc. Common Shares Maglan Capital LP 3 31/03/2015 10 0.32 54,372,500 550,000

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3516



Acquired/ Disposed



Mag Copper Limited (formerly, Fort Chimo Minerals Inc.)

Common Shares Irwin, Christopher 3, 4, 5 02/04/2015 10 0.02 6,530,750 869,000

Magellan Minerals Ltd. Options Szotlender, Mario 4 09/12/2013 50 590,000 250,000

Magellan Minerals Ltd. Options Szotlender, Mario 4 29/03/2015 52 440,000 -150,000

Magna International Inc. Units Deferred Share Units

Bonham, Scott Barclay 4 25/03/2015 37 25,426 12,713


Bonham, Scott Barclay 4 27/03/2015 56 52.1 25,534 108


Bonham, Scott Barclay 4 31/03/2015 56 53 26,968 1,434


Bonham, Scott Barclay 4 01/04/2015 56 53.66 27,900 932

Magna International Inc. Common Shares Bowie, Peter Guy 4 25/03/2015 37 7,000 3,500


Bowie, Peter Guy 4 25/03/2015 37 21,580 10,790


Bowie, Peter Guy 4 27/03/2015 56 52.1 21,672 92


Bowie, Peter Guy 4 31/03/2015 56 53 22,012 340


Bowie, Peter Guy 4 01/04/2015 56 53.66 22,827 815


Eyton, J. Trevor 4 25/03/2015 37 23,616 11,808


Eyton, J. Trevor 4 27/03/2015 56 52.1 23,667 51


Eyton, J. Trevor 4 31/03/2015 56 53 23,874 207


Eyton, J. Trevor 4 01/04/2015 56 53.66 24,491 617


Harder, Vernon Peter 4 25/03/2015 37 24,234 12,117


Harder, Vernon Peter 4 27/03/2015 56 52.1 24,337 103


Harder, Vernon Peter 4 31/03/2015 56 53 25,017 680


Harder, Vernon Peter 4 01/04/2015 56 53.66 25,948 931

Magna International Inc. Common Shares Judge, Barbara Thomas 4 25/03/2015 37 8,000 4,000

Magna International Inc. Options Judge, Barbara Thomas 4 25/03/2015 37 20,000 10,000


Judge, Barbara Thomas 4 25/03/2015 37 95,708 47,854


Judge, Barbara Thomas 4 27/03/2015 56 52.1 96,113 405


Judge, Barbara Thomas 4 31/03/2015 56 53 96,679 566


Judge, Barbara Thomas 4 01/04/2015 56 53.66 97,610 931


Lauk, Kurt 4 25/03/2015 37 15,948 7,974


Lauk, Kurt 4 27/03/2015 56 52.1 15,983 35


Lauk, Kurt 4 31/03/2015 56 53 16,408 425


Lauk, Kurt 4 01/04/2015 56 53.66 17,124 716

Magna International Inc. Common Shares Niekamp, Cynthia 4 25/03/2015 37 1,000 500


Niekamp, Cynthia 4 25/03/2015 37 1,584 792


Niekamp, Cynthia 4 27/03/2015 56 52.1 1,588 4


Niekamp, Cynthia 4 01/04/2015 56 53.66 2,007 419

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3517



Acquired/ Disposed


Samarasekera, Indira Vasanti

4 25/03/2015 37 3,960 1,980



4 27/03/2015 56 52.1 3,969 9



4 31/03/2015 56 53 4,535 566



4 01/04/2015 56 53.66 5,351 816

Magna International Inc. Common Shares Tobin, Sr., James Joseph 5 19/12/2012 10 49.163 8,810 -11,100

Magna International Inc. Common Shares Tobin, Sr., James Joseph 5 25/03/2015 37 15,508

Magna International Inc. Common Shares Tobin, Sr., James Joseph 5 25/03/2015 37 8,816 4,408

Magna International Inc. Common Shares Worrall, Lawrence 4 25/03/2015 37 13,628 6,814


Worrall, Lawrence 4 25/03/2015 37 44,546 22,273


Worrall, Lawrence 4 27/03/2015 56 52.1 44,640 94


Worrall, Lawrence 4 01/04/2015 56 53.66 45,060 420

Magna International Inc. Common Shares Young, William 4 25/03/2015 37 1,860 930


Young, William 4 25/03/2015 37 54,542 27,271


Young, William 4 27/03/2015 56 52.1 54,657 115


Young, William 4 01/04/2015 56 53.66 56,054 1,397

Magnum Goldcorp Inc. Options Exercisable into common shares

Evans, Daniel Bernard 4 01/04/2015 50 0.05 215,000 115,000


Evans, David Herbert 4 01/04/2015 50 0.05 215,000 115,000


Hamzagic, Sead 4, 5 08/11/2013 00


Hamzagic, Sead 4, 5 01/04/2015 50 0.05 115,000 115,000


Mason, Douglas Lawrence 4 01/04/2015 50 0.05 215,000 115,000


Morley, Bruce Edward 4 08/11/2013 00


Morley, Bruce Edward 4 01/04/2015 50 0.05 115,000 115,000

Mainstreet Equity Corp. Common Shares Amantea, Joe 4 30/03/2015 10 37.4 27,008 -275

Mainstreet Equity Corp. Common Shares Amantea, Joe 4 31/03/2015 10 37.41 26,733 -275

Mainstreet Equity Corp. Common Shares Mainstreet Equity Corp 1 02/03/2015 38 38.14 4,085,702 25,000

Mainstreet Equity Corp. Common Shares Mainstreet Equity Corp 1 02/03/2015 38 38.14 4,060,702 -25,000







Manitok Energy Inc. Common Shares Dion, Robert George 5 01/04/2015 30 0.69 15,462 2,717

Manitok Energy Inc. Common Shares Geremia, Massimo Mario 5 01/04/2015 30 0.69 16,493 2,898

Manitok Energy Inc. Common Shares Jerhoff, Timothy Franklin 5 01/04/2015 30 0.69 15,462 2,717

Manitok Energy Inc. Common Shares Martin, Donald Robert 5 01/04/2015 30 0.69 13,530 2,536

Manitok Energy Inc. Common Shares Vouri, Cameron Grant 5 01/04/2015 30 0.69 16,493 2,898

Manulife Financial Corporation

Deferred Share Units Caron, Joseph Peter 4 31/03/2015 46 21.44 25,271 1,105


Deferred Share Units Cassaday, John M. 4 31/03/2015 46 21.44 123,054 1,746


Deferred Share Units DeWolfe, Richard B. 4 31/03/2015 46 21.44 103,591 2,977


Deferred Share Units Fraser, Sheila Sarah Margaret

4 31/03/2015 46 21.44 29,533 2,210


Deferred Share Units Helms, Luther Sherman 4 31/03/2015 46 21.44 63,698 1,437

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3518



Acquired/ Disposed


Deferred Share Units Hsieh, Tsun-Yan 4 31/03/2015 46 21.44 35,627 2,918


Deferred Share Units Jenkins, P. Thomas 4 31/03/2015 46 21.44 815 815


Deferred Share Units Lindsay, Donald Richard 4 31/03/2015 46 21.44 32,669 1,356


Deferred Share Units Palmer, John Ralph Vernon 4 31/03/2015 46 21.44 53,798 1,724


Deferred Share Units Prieur, Claude. James 4 31/03/2015 46 21.44 23,078 3,006


Deferred Share Units Rosen, Andrea Sarah 4 31/03/2015 46 21.44 42,464 3,117


Deferred Share Units Webster, Lesley Daniels 4 31/03/2015 46 21.44 18,530 2,210

Martinrea International Inc. Common Shares D'Eramo, Frank Patrick 5 30/03/2015 10 10.157 17,312 646


Martinrea International Inc. Common Shares D'Eramo, Frank Patrick 5 30/03/2015 10 10.165 19,012 1,600








Matachewan Consolidated Mines, Limited

Common Shares McCloskey, Richard Duncan 4, 5 26/03/2015 10 0.2 3,740,500 1,000

Mawson Resources Limited Common Shares DeMare, Nick 4, 5 01/04/2015 10 0.165 211,000 -446,875

Mawson Resources Limited Common Shares DeMare, Nick 4, 5 28/08/2010 00

Mawson Resources Limited Common Shares DeMare, Nick 4, 5 01/04/2015 10 0.165 446,875 446,875

MAYA GOLD & SILVER INC. Common Shares Goulet, Guy 4, 5 19/12/2014 47 0.215 40,000

MAYA GOLD & SILVER INC. Common Shares Goulet, Guy 4, 5 19/12/2014 47 0.215 40,000

MAYA GOLD & SILVER INC. Common Shares Goulet, Guy 4, 5 31/03/2015 10 0.235 808,796 2,500

MAYA GOLD & SILVER INC. Common Shares Goulet, Guy 4, 5 19/12/2014 97 0 -15,000

MBN Corporation Units MBN Corporation 1 26/03/2015 38 5.0078 900 900

MBN Corporation Units MBN Corporation 1 26/03/2015 38 0 -900

MCAN Mortgage Corporation Deferred Share Units Jandrisits, William John 4, 7, 5 31/03/2015 30 13.51 46,734 949

MCAN Mortgage Corporation Restricted Share Units Jandrisits, William John 4, 7, 5 31/03/2015 30 13.515 5,445 111

MCAN Mortgage Corporation Common Shares Moskalev, Dmitri 7 01/04/2015 10 13.47 2,400 500

MDN INC. Options Therrien, Yves 5 01/04/2015 52 0.45 40,000 -100,000

Mediagrif Interactive Technologies Inc.

Common Shares Anglaret, Stéphane 5 02/04/2015 30 20,113 376


Common Shares Bourque, Paul 5 02/04/2015 30 23,455 163


Common Shares Delaney, Eric 5 02/04/2015 30 1,375 96


Common Shares Hallak, Hélène 5 02/04/2015 30 69,325 98


Common Shares Lampron, Richard 5 02/04/2015 30 45,441 283


Common Shares Moquin, Suzanne 5 02/04/2015 30 696 83


Common Shares Rousseau, Camil 5 02/04/2015 30 12,978 70


Common Shares Roy, Claude 3, 4, 5 02/04/2015 30 658,539 296


Common Shares Stam, Jean-Michel 5 02/04/2015 30 13,317 222

Medical Facilities Corporation

Deferred Share Units Bellaire, David Ramsey 4 19/03/2014 00


Deferred Share Units Bellaire, David Ramsey 4 17/04/2014 56 62 62


Deferred Share Units Bellaire, David Ramsey 4 09/07/2014 56 489 427

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3519



Acquired/ Disposed


Deferred Share Units Bellaire, David Ramsey 4 09/10/2014 56 1,073 584






Common Shares Day-Linton, Marilynne 4 31/03/2015 10 16.9 3,000 1,000


Deferred Share Units Day-Linton, Marilynne 4 04/01/2013 00


Deferred Share Units Day-Linton, Marilynne 4 15/04/2013 56 641 641


Deferred Share Units Day-Linton, Marilynne 4 15/07/2013 56 1,830 1,189




Deferred Share Units Day-Linton, Marilynne 4 31/12/2013 30 3,066 97














Deferred Share Units Faclier, Gil 4 29/03/2004 00 18,981


Deferred Share Units Faclier, Gil 4 15/07/2010 56 20,040 1,059






Deferred Share Units Faclier, Gil 4 14/01/2011 56 23,686 704






Deferred Share Units Faclier, Gil 4 29/03/2004 00 13,017





















Insider Reporting

April 9, 2015

(2015), 38 OSCB 3520



Acquired/ Disposed




















Deferred Share Units Gerstein, Irving 5 29/03/2004 00


Deferred Share Units Gerstein, Irving 5 14/10/2011 56 251 251










Deferred Share Units Gerstein, Irving 5 15/10/2012 56 1,033 171


























Deferred Share Units Lawr, Dale M. 4 12/11/2014 00


Deferred Share Units Lawr, Dale M. 4 31/12/2014 56 470 470


Deferred Share Units Perri, John Thomas 7 19/03/2010 00


Deferred Share Units Perri, John Thomas 7 12/07/2010 56 669 669


Deferred Share Units Perri, John Thomas 7 12/10/2010 56 1,285 616

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3521



Acquired/ Disposed










Deferred Share Units Perri, John Thomas 7 19/03/2010 00 1,086








































Common Shares Temkin, Seymour 4 24/12/2014 90 0 -296


Common Shares Temkin, Seymour 4 02/10/2014 90 0 -709


Common Shares Temkin, Seymour 4 29/03/2004 00


Common Shares Temkin, Seymour 4 02/10/2014 90 709 709


Deferred Share Units Temkin, Seymour 4 29/03/2004 00






Deferred Share Units Temkin, Seymour 4 29/03/2004 00 38,884



Insider Reporting

April 9, 2015

(2015), 38 OSCB 3522



Acquired/ Disposed




Deferred Share Units Temkin, Seymour 4 15/07/2010 56 2.87 2,471




Deferred Share Units Temkin, Seymour 4 15/07/2010 56 41,355 2,471


































Deferred Share Units Temkin, Seymour 4 15/07/2011 56 27,499 638

























Insider Reporting

April 9, 2015

(2015), 38 OSCB 3523



Acquired/ Disposed














Deferred Share Units Tlustos, Patrick Alan 7 29/03/2004 00 784


Deferred Share Units Tlustos, Patrick Alan 7 30/06/2010 56 2,363 1,579


Deferred Share Units Tlustos, Patrick Alan 7 30/09/2010 56 3,741 1,378


Deferred Share Units Tlustos, Patrick Alan 7 31/12/2010 56 4,647 906












Deferred Share Units Tlustos, Patrick Alan 7 29/03/2004 00 2,903

























Medicure Inc. Options Fawkes, Brent Jeffrey 4 27/03/2015 50 1.9 56,700 7,200

Medicure Inc. Options Friesen, Albert David 4, 5 27/03/2015 50 1.9 525,500 9,000

Medicure Inc. Options Hassell, Trevor 4 12/08/2008 52 0 -50,000

Medicure Inc. Options Hassell, Trevor 4 27/03/2015 50 1.9 15,000 15,000

Medicure Inc. Options McDole, Gerald P. 4 27/03/2015 50 1.9 66,367 7,200

Medicure Inc. Options Merchant, Graeme William 8 27/03/2015 50 1.9 171,130 7,200

Medicure Inc. Options Naimark, Arnold 4 27/03/2015 50 1.9 70,367 7,200

Methanex Corporation Common Shares Maddren, Simon Christopher

5 30/03/2015 10 53 4,414 815

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3524



Acquired/ Disposed

Methanex Corporation Rights Deferred Share Units

Poole, Albert Terence 4 31/03/2015 56 48,963 524

Metro inc. Performance Share Unit (PSU) / Unité d'actions au rendement

Martin, Denise 5 29/03/2015 56 15.994 7,848 1,469

Metro inc. Common Shares Metro inc. 1 02/04/2015 38 33.59 410,000 410,000

Microbix Biosystems Inc. Common Shares Blecher, Peter Martin 4 30/03/2015 47 615,207 100,000

Microbix Biosystems Inc. Common Shares Blecher, Peter Martin 4 30/03/2015 47 434,615 -100,000

Microbix Biosystems Inc. Common Shares Embro-Pantalony, Vaughn 4 27/03/2015 54 0.4 1,000,037 185,185

Microbix Biosystems Inc. Warrants Embro-Pantalony, Vaughn 4 27/03/2015 54 0 -185,185

Middlefield Can-Global REIT Income Fund

Trust Units Middlefield Can-Global REIT Income Fund

1 30/03/2015 38 12.324 2,164,045 1,000

Middlefield Can-Global REIT Income Fund

Trust Units Middlefield Can-Global REIT Income Fund

1 31/03/2015 38 12.45 2,164,445 400

Midpoint Holdings Ltd. (formerly Javelina Resources Ltd.)

Common Shares Henderson, Marc Charles 4 25/03/2015 10 0.15 2,571,000 40,000





Milestone Apartments Real Estate Investment Trust

Deferred Units Biggar, William John 4 31/12/2014 30 19,509 731


Deferred Units Biggar, William John 4 31/03/2015 56 21,762 2,253


Deferred Units Graham, Janet 4 31/12/2014 30 20,823 788


Deferred Units Graham, Janet 4 31/03/2015 56 23,162 2,339


Deferred Units Matheson, Richard Norman 4 31/12/2014 30 16,572 631


Deferred Units Matheson, Richard Norman 4 31/03/2015 56 18,275 1,703


Deferred Units Senst, Graham David 4 31/12/2014 30 17,544 656


Deferred Units Senst, Graham David 4 31/03/2015 56 19,505 1,961


Deferred Units Young, Michael D'Arcy 4 31/12/2014 30 21,274 818


Deferred Units Young, Michael D'Arcy 4 31/03/2015 56 23,544 2,270

Millrock Resources Inc. Options Cooper, Lawrence 4 15/03/2015 50 330,000 30,000

Millrock Resources Inc. Common Shares van Eeden, Paul Pieter 3 24/10/2014 37 0 -14,762,046

Millrock Resources Inc. Common Shares van Eeden, Paul Pieter 3 24/10/2014 37 1,476,204 1,476,204

Millrock Resources Inc. Common Shares van Eeden, Paul Pieter 3 31/03/2015 11 0.3 0 -1,476,204

Minaurum Gold Inc. Common Shares Maynard, Stephen 5 30/03/2015 10 0.075 302,333 -431,000

MINT Income Fund Trust Units MINT Income Fund 1 30/03/2015 38 8.41 58,535,910 200

MINT Income Fund Trust Units MINT Income Fund 1 31/03/2015 38 8.4132 58,541,910 6,000

Moag Copper Gold Resources Inc.

Common Shares Jones, Bradley Leonard 3, 4, 5 01/04/2015 10 0.12 9,628,000 3,000

Moneda LatAm Growth Fund Units Class A McChesney, Brian David 4, 5 17/05/2013 00

Moneda LatAm Growth Fund Units Class A McChesney, Brian David 4, 5 17/05/2013 15 10 20,000 20,000

Morneau Shepell Inc. Common Shares Ponce, Julien 5 25/03/2015 10 17.2 108,100 -11,900



Mountain Province Diamonds Inc.

Common Shares Comerford, Jonathan 4 31/03/2015 57 4 145,204 21,704


Rights Comerford, Jonathan 4 30/03/2015 57 0 -123,500


Common Shares Desmond, Dermot Fachtna 3 31/03/2015 57 4 36,150,928 5,254,247


Rights Desmond, Dermot Fachtna 3 30/03/2015 57 1,000,016 -29,896,665

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3525



Acquired/ Disposed


Rights Desmond, Dermot Fachtna 3 30/03/2015 58 - Expiration of rights

0 -1,000,016


Common Shares Dresner, Bruce Michael 4 31/03/2015 57 4 381,116 56,968


Rights Dresner, Bruce Michael 4 11/03/2013 00


Rights Dresner, Bruce Michael 4 04/03/2015 56 324,148 324,148


Rights Dresner, Bruce Michael 4 30/03/2015 57 0 -324,148


Common Shares evans, patrick charles 4, 5 30/03/2015 57 4 1,356,229 17,574


Rights evans, patrick charles 4, 5 30/03/2015 58 - Expiration of rights

100,000 -1,238,655


Rights evans, patrick charles 4, 5 30/03/2015 57 4 0 -100,000


Common Shares Varshney, Peeyush 4 30/03/2015 57 4 69,705 500


Common Shares Varshney, Peeyush 4 30/03/2015 57 4 52,717 9,300


Common Shares Whittle, David Edward 4 30/03/2015 57 4 160,606 24,006


Rights Whittle, David Edward 4 04/03/2015 56 136,600


Rights Whittle, David Edward 4 04/03/2015 56 136,600 136,600


Rights Whittle, David Edward 4 30/03/2015 57 4 0 -136,600

Namibia Rare Earths Inc. Common Shares Koutsouras, Bill 4 01/04/2015 10 0.2 0 -100,000

Nevada Sunrise Gold Corporation

Common Shares Stanyer, Warren William 4, 5 16/12/2013 37 -2,716,200

Nevada Sunrise Gold Corporation

Common Shares Stanyer, Warren William 4, 5 16/12/2013 37 306,800 -2,761,200

New Flyer Industries Inc. Performance Share Units Asham, Carl Glenn 5 31/12/2014 30 61,749 1,576

New Flyer Industries Inc. Performance Share Units Asham, Carl Glenn 5 31/12/2014 30 62,456 707

New Flyer Industries Inc. Performance Share Units Asham, Carl Glenn 5 31/12/2014 30 63,137 681

New Flyer Industries Inc. Performance Share Units Asham, Carl Glenn 5 30/03/2015 58 - Expiration of rights

60,477 -14,446

New Flyer Industries Inc. Performance Share Units Asham, Carl Glenn 5 31/03/2015 59 12.92 41,343 -19,134

New Flyer Industries Inc. Restricted Share Units Asham, Carl Glenn 5 31/12/2014 30 30,209 525




New Flyer Industries Inc. Restricted Share Units Asham, Carl Glenn 5 31/03/2015 59 12.92 25,846 -11,193




New Flyer Industries Inc. Common Shares Coliseum Capital Management, LLC

3 27/03/2015 57 3,526,634 2,210

New Flyer Industries Inc. Performance Share Units Dewsnup, Brian Keith 5 31/12/2014 30 5,326 250

New Flyer Industries Inc. Restricted Share Units Dewsnup, Brian Keith 5 31/12/2014 30 2,663 125

New Flyer Industries Inc. Restricted Share Units Dewsnup, Brian Keith 5 31/03/2015 59 12.92 3,785 -888

New Flyer Industries Inc. Deferred Share Units Edwards, Larry Dean 7 27/03/2015 56 7,304 884

New Flyer Industries Inc. Restricted Share Units Gray, Adam L. 4 11/05/2012 00

New Flyer Industries Inc. Restricted Share Units Gray, Adam L. 4 27/03/2015 56 2,211

New Flyer Industries Inc. Restricted Share Units Gray, Adam L. 4 27/03/2015 56 2,211

New Flyer Industries Inc. Restricted Share Units Gray, Adam L. 4 27/03/2015 57 -2,211

New Flyer Industries Inc. Restricted Share Units Gray, Adam L. 4 27/03/2015 57 -2,211

New Flyer Industries Inc. Restricted Share Units Gray, Adam L. 4 27/03/2015 56 2,211 2,211

New Flyer Industries Inc. Restricted Share Units Gray, Adam L. 4 27/03/2015 57 0 -2,211

New Flyer Industries Inc. Performance Share Units Harper, Janice 5 31/12/2014 30 32,770 810



Insider Reporting

April 9, 2015

(2015), 38 OSCB 3526



Acquired/ Disposed

New Flyer Industries Inc. Performance Share Units Harper, Janice 5 30/03/2015 58 - Expiration of rights

33,967 -5,891

New Flyer Industries Inc. Performance Share Units Harper, Janice 5 31/03/2015 59 12.92 22,610 -11,357

New Flyer Industries Inc. Restricted Share Units Harper, Janice 5 31/12/2014 30 17,661 270




New Flyer Industries Inc. Restricted Share Units Harper, Janice 5 31/03/2015 59 12.92 15,661 -5,749




New Flyer Industries Inc. Restricted Share Units Jacobsen, Patricia Anne 4 12/11/2009 00

New Flyer Industries Inc. Restricted Share Units Jacobsen, Patricia Anne 4 27/03/2015 56 1,238 1,238

New Flyer Industries Inc. Performance Share Units Joseph, Wayne Ray 5 31/12/2014 30 91,807 2,675

New Flyer Industries Inc. Performance Share Units Joseph, Wayne Ray 5 31/12/2014 30 92,673 866

New Flyer Industries Inc. Performance Share Units Joseph, Wayne Ray 5 31/12/2014 30 93,521 848

New Flyer Industries Inc. Performance Share Units Joseph, Wayne Ray 5 30/03/2015 58 - Expiration of rights

88,366 -19,466

New Flyer Industries Inc. Performance Share Units Joseph, Wayne Ray 5 31/03/2015 59 12.92 50,838 -37,528

New Flyer Industries Inc. Restricted Share Units Joseph, Wayne Ray 5 31/12/2014 30 42,449 892




New Flyer Industries Inc. Restricted Share Units Joseph, Wayne Ray 5 31/03/2015 59 12.92 31,762 -18,998




New Flyer Industries Inc. Performance Share Units Lewis, Margaret Ann 5 31/12/2014 30 33,700 845



New Flyer Industries Inc. Performance Share Units Lewis, Margaret Ann 5 30/03/2015 58 - Expiration of rights

34,528 -6,147

New Flyer Industries Inc. Performance Share Units Lewis, Margaret Ann 5 31/03/2015 59 12.92 22,677 -11,851

New Flyer Industries Inc. Restricted Share Units Lewis, Margaret Ann 5 31/12/2014 30 18,182 282




New Flyer Industries Inc. Restricted Share Units Lewis, Margaret Ann 5 31/03/2015 59 12.92 15,884 -5,999




New Flyer Industries Inc. Deferred Share Units Marinucci, Giovanni (John) 4 27/03/2015 56 7,304 884

New Flyer Industries Inc. Deferred Share Units McLeod, Wayne 4 27/03/2015 56 7,304 884

New Flyer Industries Inc. Deferred Share Units Millar, William Wells 4 27/03/2015 56 6,368 884

New Flyer Industries Inc. Performance Share Units Pewarchuk, Colin Michael 5 31/12/2014 30 38,515 950



New Flyer Industries Inc. Performance Share Units Pewarchuk, Colin Michael 5 30/03/2015 58 - Expiration of rights

39,673 -6,916

New Flyer Industries Inc. Performance Share Units Pewarchuk, Colin Michael 5 31/03/2015 59 12.92 26,341 -13,332

New Flyer Industries Inc. Restricted Share Units Pewarchuk, Colin Michael 5 31/12/2014 30 20,939 317




New Flyer Industries Inc. Restricted Share Units Pewarchuk, Colin Michael 5 31/03/2015 59 12.92 18,476 -6,749




New Flyer Industries Inc. Deferred Share Units Sardo, Vincent James 4 27/03/2015 56 7,304 884

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3527



Acquired/ Disposed

New Flyer Industries Inc. Performance Share Units Smart, Ian Scott 5 31/12/2014 30 49,950 1,291

New Flyer Industries Inc. Performance Share Units Smart, Ian Scott 5 31/12/2014 30 50,428 478

New Flyer Industries Inc. Performance Share Units Smart, Ian Scott 5 31/12/2014 30 51,056 628

New Flyer Industries Inc. Performance Share Units Smart, Ian Scott 5 30/03/2015 58 - Expiration of rights

49,611 -12,221

New Flyer Industries Inc. Performance Share Units Smart, Ian Scott 5 31/03/2015 59 12.92 34,334 -15,277

New Flyer Industries Inc. Restricted Share Units Smart, Ian Scott 5 31/12/2014 30 25,626 430




New Flyer Industries Inc. Restricted Share Units Smart, Ian Scott 5 31/03/2015 59 12.92 22,658 -9,166




New Flyer Industries Inc. Performance Share Units Smith, Paul Warren Dennis 5 31/12/2014 30 50,446 1,408

New Flyer Industries Inc. Performance Share Units Smith, Paul Warren Dennis 5 31/12/2014 30 50,940 494

New Flyer Industries Inc. Performance Share Units Smith, Paul Warren Dennis 5 31/12/2014 30 51,453 513

New Flyer Industries Inc. Performance Share Units Smith, Paul Warren Dennis 5 30/03/2015 58 - Expiration of rights

46,502 -13,332

New Flyer Industries Inc. Performance Share Units Smith, Paul Warren Dennis 5 31/03/2015 59 12.92 29,836 -16,666

New Flyer Industries Inc. Restricted Share Units Smith, Paul Warren Dennis 5 31/12/2014 30 25,637 469




New Flyer Industries Inc. Restricted Share Units Smith, Paul Warren Dennis 5 31/03/2015 59 12.92 20,599 -9,999




New Flyer Industries Inc. Performance Share Units Soubry, Paul 5 31/12/2014 30 281,451 8,389



New Flyer Industries Inc. Performance Share Units Soubry, Paul 5 30/03/2015 58 - Expiration of rights

257,144 -71,411

New Flyer Industries Inc. Performance Share Units Soubry, Paul 5 31/03/2015 59 12.92 149,822 -107,322

New Flyer Industries Inc. Restricted Share Units Soubry, Paul 5 31/12/2014 30 117,652 2,796

New Flyer Industries Inc. Restricted Share Units Soubry, Paul 5 31/12/2014 30 118,503 851

New Flyer Industries Inc. Restricted Share Units Soubry, Paul 5 31/12/2014 30 119,259 756

New Flyer Industries Inc. Restricted Share Units Soubry, Paul 5 31/12/2014 30 120,512 1,253

New Flyer Industries Inc. Restricted Share Units Soubry, Paul 5 31/03/2015 59 12.92 81,957 -59,578




New Flyer Industries Inc. Performance Share Units Stoddart, Christopher James

5 31/12/2014 30 38,515 950


5 31/12/2014 30 38,976 461


5 31/12/2014 30 39,415 439


5 30/03/2015 58 - Expiration of rights

39,673 -6,916


5 31/03/2015 59 12.92 26,341 -13,332

New Flyer Industries Inc. Restricted Share Units Stoddart, Christopher James

5 31/12/2014 30 20,939 317


5 31/12/2014 30 21,093 154


5 31/12/2014 30 21,419 326


5 31/12/2014 30 21,638 219


5 31/03/2015 59 12.92 18,476 -6,749

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3528



Acquired/ Disposed


5 31/03/2015 59 12.92 16,839 -1,637


5 31/03/2015 59 12.92 13,369 -3,470


5 31/03/2015 59 12.92 11,812 -1,557

New Flyer Industries Inc. Restricted Share Units Tobin, Brian Vincent 4 15/08/2005 00

New Flyer Industries Inc. Restricted Share Units Tobin, Brian Vincent 4 27/03/2015 56 1,680 1,680

New Flyer Industries Inc. Performance Share Units White, David Michael 5 31/12/2014 30 38,515 950



New Flyer Industries Inc. Performance Share Units White, David Michael 5 30/03/2015 58 - Expiration of rights

39,673 -6,916

New Flyer Industries Inc. Performance Share Units White, David Michael 5 31/03/2015 59 12.92 26,341 -13,332

New Flyer Industries Inc. Restricted Share Units White, David Michael 5 31/12/2014 30 20,939 317




New Flyer Industries Inc. Restricted Share Units White, David Michael 5 31/03/2015 59 12.92 18,476 -6,749




New Flyer Industries Inc. Performance Share Units Wood, Kevin Gerard 5 31/12/2014 30 38,515 950



New Flyer Industries Inc. Performance Share Units Wood, Kevin Gerard 5 30/03/2015 58 - Expiration of rights

39,917 -6,916

New Flyer Industries Inc. Performance Share Units Wood, Kevin Gerard 5 31/03/2015 59 12.92 26,585 -13,332

New Flyer Industries Inc. Restricted Share Units Wood, Kevin Gerard 5 31/12/2014 30 20,939 317




New Flyer Industries Inc. Restricted Share Units Wood, Kevin Gerard 5 31/03/2015 59 12.92 18,598 -6,749




New Flyer Industries Inc. Performance Share Units Young, Shannon Ray 7 31/12/2014 30 5,499 258

New Flyer Industries Inc. Restricted Share Units Young, Shannon Ray 7 31/12/2014 30 2,750 129

New Flyer Industries Inc. Restricted Share Units Young, Shannon Ray 7 31/03/2015 59 12.92 3,909 -917

New Look Eyewear Inc. Common Shares Class A Amiel, Antoine 4, 6, 5 31/03/2015 35 27.49 65,704 345

New Look Eyewear Inc. Options Amiel, Antoine 4, 6, 5 26/03/2015 50 29.69 215,000 25,000

New Look Eyewear Inc. Common Shares Class A Bennett, William John 4, 6, 5 31/03/2015 35 27.49 82,073 445

New Look Eyewear Inc. Common Shares Class A Bennett, William John 4, 6, 5 31/03/2015 35 27.49 593,940 3,222

New Look Eyewear Inc. Common Shares Class A Cherney, Richard 4 31/03/2015 30 27.49 10,218 44

New Look Eyewear Inc. Common Shares Class A DeBono, Emanuel J. 5 31/03/2015 35 27.49 1,992 7

New Look Eyewear Inc. Common Shares Class A Deschamps, Jean-Luc 5 31/03/2015 35 27.49 19,555 9

New Look Eyewear Inc. Common Shares Class A Gagné, Martial 4, 5 26/03/2015 10 30 66,334 -400

New Look Eyewear Inc. Options Gagné, Martial 4, 5 26/03/2015 50 29.69 165,000 25,000

New Look Eyewear Inc. Options Leary, Juanita 7 26/03/2015 50 29.69 35,000 10,000

New Look Eyewear Inc. Options MacLeod, John Richard 7 26/03/2015 50 29.69 80,000 15,000

New Look Eyewear Inc. Common Shares Class A Pageau, Mario 5 31/03/2015 35 27.49 11,567 39

New Look Eyewear Inc. Options Pageau, Mario 5 26/03/2015 50 29.69 47,500 12,500

New Look Eyewear Inc. Common Shares Class A Pearson, Charles Emmett 4, 6 31/03/2015 35 27.49 142,822 775

New Look Eyewear Inc. Common Shares Class A Pearson, Charles Emmett 4, 6 31/03/2015 35 27.49 142,823 775

New Look Eyewear Inc. Options Rust, Matthew Vernon 7 26/03/2015 50 29.69 35,000 10,000

NexJ Systems Inc. Options Broley, Richard James 5 23/02/2015 50 1.23 82,500 20,000

NexJ Systems Inc. Options DeVriendt, Paul Frederick 5 23/02/2015 50 1.23 46,250 20,000

Nexus Gold Corp. Common Shares Klenman, Alexander 4 01/04/2015 10 0.13 1,929,299 2,000

NGEx Resources Inc. Options Vodola, Antonietta (Toni) 5 28/03/2015 52 2.5 72,500 -75,000

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3529



Acquired/ Disposed

Niagara Ventures Corporation

Common Shares Anderson, Scott Cameron 4, 5 30/03/2015 10 0.04 915,780 69,000


Common Shares Anderson, Scott Cameron 4, 5 31/03/2015 10 0.03 971,780 56,000


Common Shares Anderson, Scott Cameron 4, 5 31/03/2015 10 0.03 1,011,780 40,000

Nighthawk Gold Corp. Common Shares Prychidny, Morris 4 15/02/2013 00

Nighthawk Gold Corp. Common Shares Prychidny, Morris 4 01/04/2015 10 0.26 38,500 38,500

Niko Resources Ltd. Common Shares Disbrow, Robert 3 31/03/2015 10 0.51 6,615,750 -25,000

Niko Resources Ltd. Common Shares Disbrow, Robert 3 31/03/2015 10 0.4825 6,625,750 10,000

Niko Resources Ltd. Common Shares Disbrow, Robert 3 31/03/2015 10 0.51 5,421,500 -38,500

Noront Resources Ltd. Options common shares Anselmi, Thomas 4 31/03/2015 50 0.55 800,000 100,000

Noront Resources Ltd. Options common shares Baker, Mark 5 07/08/2014 00 470,000

Noront Resources Ltd. Options common shares Baker, Mark 5 31/03/2015 50 0.55 495,000 25,000

Noront Resources Ltd. Options common shares Bassett, Edward Harold 4 31/03/2015 50 0.55 1,000,000 100,000

Noront Resources Ltd. Options common shares Coutts, Alan 5 31/03/2015 50 0.55 3,500,000 300,000

Noront Resources Ltd. Options common shares Rieveley, Gregory Robert 5 31/03/2015 50 0.55 2,588,000 200,000

Noront Resources Ltd. Options common shares Semple, Paul G. 5 31/03/2015 50 0.55 3,085,000 200,000

Noront Resources Ltd. Options common shares Webster, Colin 5 31/03/2015 50 0.55 300,000 50,000

Noront Resources Ltd. Options common shares Xu, Yuanqing 4 31/03/2015 50 0.55 700,000 100,000

North American Energy Partners Inc.

Deferred Share Unit (Common Shares)

McIntosh, Ronald A 4 31/03/2015 56 143,459 2,491



Oehmig, William C. 4 31/03/2015 56 175,583 8,220



Sello, Allen 4 31/03/2015 56 80,502 4,144



Thornton, Jay 4 31/03/2015 56 42,550 4,654



Turner, K. Rick 4 31/03/2015 56 85,986 4,348

Northland Power Inc. Deferred Share Units (DSU)

Gilmour, Barry Kenneth 4 31/03/2015 56 16.4 4,933 1,143


Goodman, Russell Andrew 4 31/03/2015 56 16.4 2,123 585


Harder, Vernon Peter 4 31/03/2015 56 16.4 18,966 1,364


Turner, John, Napier 4 31/03/2015 56 16.4 5,316 534

NorthWest Healthcare Properties Real Estate Investment Trust

Deferred Units Barkin, Martin 4 31/03/2015 56 9.08 21,064 991


Deferred Units Baron, Robert 4 31/03/2015 56 9.08 31,515 1,261


Deferred Units Brady, Michael 5 23/03/2015 46 9.06 93,385 24,078


Deferred Units Crotty, Bernard W. 4 31/03/2015 56 9.08 31,906 1,652


Deferred Units Dalla Lana, Paul 4, 5 31/03/2015 56 9.08 26,359 1,652


Deferred Units Loudon, Colin 4 31/03/2015 56 9.08 2,104 1,652


Deferred Units NorthWest Healthcare Properties REIT

5 23/03/2015 46 9.06 4,655 4,655


Deferred Units Petersen, Brian Kenneth 4 31/03/2015 56 9.08 3,271 1,652


Deferred Units Riggin, Peter 5 23/03/2015 46 9.06 99,124 24,656

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3530



Acquired/ Disposed

NorthWest International Healthcare Properties Real Estate Investment Trust

Deferred Units Baron, Robert 4 31/03/2015 46 195,912 12,032

NorthWest International Healthcare Properties Real Estate Investment Trust

Deferred Units Naylor, Christopher David (David)

4 31/03/2015 46 89,817 12,032

NUVISTA ENERGY LTD. Options Andreachuk, Ross Lloyd 5 30/03/2015 59 7.57 260,573 -10,000

NUVISTA ENERGY LTD. Options Asman, Kevin Garth 5 30/03/2015 59 7.2 266,573 -6,000

Nuvo Research Inc. Deferred Share Unit Plan (DSU)

Copeland, David A. 4 31/03/2015 56 45,312 2,890


Copeland, David A. 4 31/03/2015 56 47,088 1,776


Dobranowski, Anthony Edward

4 31/03/2015 56 42,626 2,890


Dobranowski, Anthony Edward

4 31/03/2015 56 44,053 1,427


Lindeiner, Klaus 4 31/03/2015 56 42,172 2,890


Lindeiner, Klaus 4 31/03/2015 56 43,599 1,427


Messier, Jacques 4 31/03/2015 56 41,648 2,890


Messier, Jacques 4 31/03/2015 56 43,016 1,368


Stanley, Theodore H. 4 31/03/2015 56 36,472 2,890


Stanley, Theodore H. 4 31/03/2015 56 37,666 1,194

OceanaGold Corporation Common Shares Klinck, Darren Ervin Charles 5 25/03/2015 10 66,625 -50,000



OceanaGold Corporation Common Shares MA, YUWEN 5 24/03/2015 10 96,858 -3,900



ONEX CORPORATION Rights Deferred Share Units (cash settled)

Casey, Daniel C. 4 31/03/2015 56 73.55 76,016 235

ONEX CORPORATION Subordinate Voting Shares

Donaldson, Christine Maria 5 27/03/2015 10 74.29 26,388 31


Etherington, William 4 31/03/2015 56 73.55 49,580 235


Godsoe, Peter Cowperthwaite

4 31/03/2015 56 73.55 77,575 282


Gouin, Serge 4 31/03/2015 56 73.55 77,877 282


Hirsch, David Robert 7 27/03/2015 10 74.29 31,256 112


Huffington, Arianna 4 31/03/2015 56 73.55 3,945 215


McCoy, John Bonnet 4 31/03/2015 56 73.55 69,456 281


Onex Corporation 1 05/03/2015 38 71.449 11,200 11,200


Onex Corporation 1 05/03/2015 38 0 -11,200













Insider Reporting

April 9, 2015

(2015), 38 OSCB 3531



Acquired/ Disposed














Popatia, Tawfiq 5 27/03/2015 10 74.29 699 50


Prichard, John Robert Stobo 4 31/03/2015 56 73.55 72,243 265


Reisman, Heather M. 4 31/03/2015 56 73.55 64,462 215


Srivastava, Manish Kumar 5 27/03/2015 10 74.29 2,117 24


Thorsteinson, Arni Clayton 4 31/03/2015 56 73.55 96,319 535


Wright, Nigel Stewart 7 27/03/2015 10 74.29 298,282 397

OREX MINERALS INC. Common Shares Cope, Gary Gordon 5 01/04/2015 10 0.235 10,094,900 4,000




Orosur Mining Inc. Common Shares Stephens, Paul H. 3 24/03/2015 00


Orosur Mining Inc. Common Shares Stephens, Paul H. 3 24/03/2015 00 3,301,000






Orosur Mining Inc. Common Shares Stephens, Paul H. 3 24/03/2015 00 461,125




Orosur Mining Inc. Common Shares Stephens, Paul H. 3 24/03/2015 00 8,122,000


OSISKO GOLD ROYALTIES LTD

Common Shares Archer, Paul 5 26/03/2015 51 4.23 97,600 12,500


Common Shares Archer, Paul 5 26/03/2015 10 17.243 91,600 -6,000


Common Shares Archer, Paul 5 27/03/2015 10 17.073 85,100 -6,500


Options Archer, Paul 5 26/03/2015 51 4.23 138,270 -12,500


Common Shares Jacob, Mario 7 17/02/2015 00


Common Shares Jacob, Mario 7 31/03/2015 51 4.42 11,000 11,000


Common Shares Jacob, Mario 7 31/03/2015 10 16.819 0 -11,000


Options Jacob, Mario 7 31/03/2015 51 4.42 43,788 -11,000

Ovivo Inc. Rights à la plus-value d'actions (DPVA Personnel-clé)

Porteous, Jim 7 10/11/2014 58 - Expiration of rights

16,000 -4,000

Ovivo Inc. Rights à la plus-value d'actions (DPVA Personnel-clé)

SALAMOR, Malek 5 10/11/2014 58 - Expiration of rights

16,000 -4,000

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3532



Acquired/ Disposed

Ovivo Inc. Subordinate Voting Shares GLV.A

Someah, Kaveh Saraii 5 27/03/2015 10 1.099 2,600 2,600


Someah, Kaveh Saraii 5 30/03/2015 10 1.099 2,600





Pacific Rubiales Energy Corp.

Common Shares Kozak, John Frederick 5 31/03/2015 00 14,657


Notes Exp. 2021 Pantin, Ronald 4, 5 30/03/2015 10 58.925 $0 -$1,000,000


Notes Exp. 2025 Pantin, Ronald 4, 5 30/03/2015 10 67.375 $0 -$1,000,000

Pacific Therapeutics Ltd. Common Shares Sinclair, Derick Graham 5 25/03/2015 30 0.05 600,000 400,000

Pacific Therapeutics Ltd. Warrants Sinclair, Derick Graham 5 26/03/2015 30 0.15 600,000 400,000

Pacific Therapeutics Ltd. Common Shares Unwin, Dougas Harry 3, 4, 5 26/03/2015 30 0.05 5,115,667 655,000

Pacific Therapeutics Ltd. Warrants Unwin, Dougas Harry 3, 4, 5 26/03/2015 30 0.15 1,785,000 655,000

Painted Pony Petroleum Ltd. Common Shares Fleming, Tonya Louise 5 31/03/2015 30 5.928 49,533 544

Painted Pony Petroleum Ltd. Common Shares Hall, Bruce 5 31/03/2015 30 5.928 55,451 581

Painted Pony Petroleum Ltd. Common Shares Hanbury, Edwin Stewart 5 31/03/2015 30 5.928 67,783 716

Painted Pony Petroleum Ltd. Common Shares Jaggard, Stuart 1 31/03/2015 30 5.928 14,156 544

Painted Pony Petroleum Ltd. Common Shares McNamara, Leo Barry 5 31/03/2015 30 5.928 87,704 835

Painted Pony Petroleum Ltd. Common Shares REIMER, JAMES D. 5 31/03/2015 30 5.928 39,379 825

Painted Pony Petroleum Ltd. Common Shares Van de Pol, John 5 31/03/2015 30 5.928 92,345 725

Painted Pony Petroleum Ltd. Common Shares Ward, Patrick Russell 4, 5 31/03/2015 30 5.928 991,675 1,039

Pangolin Diamonds Corp. (formerly Key Gold Holding Inc.)

Common Shares Bonner, Rickey 5 27/03/2015 11 0.05 2,767,667 600,000


Warrants Bonner, Rickey 5 27/03/2015 53 0.06 1,225,000 600,000


Common Shares Daniels, Leon Robert Mac 3 27/03/2015 11 0.05 4,911,940 750,000


Warrants Daniels, Leon Robert Mac 3 27/03/2015 53 0.06 1,411,940 750,000


Common Shares Warren, Graham 5 27/03/2015 11 0.05 1,564,000 600,000


Options Warren, Graham 5 01/03/2013 50 0.1 450,000 150,000


Options Warren, Graham 5 15/03/2013 50 0.1 150,000


Warrants Warren, Graham 5 27/03/2015 53 0.06 850,000 600,000

Parkland Fuel Corporation Deferred Share Unit Plan Bechtold, John Frederick 4 31/03/2015 30 24.39 18,059 820

Parkland Fuel Corporation Common Shares Cruickshank, Andrew Stuart 5 27/03/2015 30 25.13 1,219 94

Parkland Fuel Corporation Common Shares Espey, Robert Berthold 5 27/03/2015 30 25.13 96,661 188

Parkland Fuel Corporation Common Shares Kilty, Colin Peter 5 27/03/2015 30 25.13 5,993 135

Parkland Fuel Corporation Common Shares Lapensee, Paul 4 27/03/2015 30 25.13 2,098 123

Parkland Fuel Corporation Common Shares McMillan, Michael Stanley Howie

5 27/03/2015 30 25.13 2,945 140

Parkland Fuel Corporation Common Shares Rawji, Irfhan Abdulaziz 5 27/03/2015 30 25.13 4,090 127

Parkland Fuel Corporation Common Shares Savage, Jane Elizabeth 5 27/03/2015 30 25.13 841 115

Parkland Fuel Corporation Common Shares Strating, Donna Jeanne 5 27/03/2015 30 25.13 5,460 113

Parkland Fuel Corporation Common Shares Waiting, Kendall 5 27/03/2015 30 25.13 1,584 76

Partners Real Estate Investment Trust

Units Tawse, Moray 3 27/03/2015 10 3.43 1,146,641 1,200



Insider Reporting

April 9, 2015

(2015), 38 OSCB 3533



Acquired/ Disposed





Partners Value Fund Inc. (formerly BAM Investments Corp.)

Common Shares Lawson, Brian 4, 5 31/12/2013 47 27 10,000


Common Shares Lawson, Brian 4, 5 31/12/2013 47 27 100,000 100,000


Common Shares Lawson, Brian 4, 5 31/12/2013 47 27 -10,000


Common Shares Lawson, Brian 4, 5 31/12/2013 47 27 1,072,800 -100,000


Common Shares Myhal, George 4, 6, 5 16/01/2013 00 4,691,670


Common Shares Pollock, Sam JB 6 16/01/2013 00 3,691,660


Common Shares Pollock, Sam JB 6 16/01/2013 00 100,000

Pason Systems Inc. DSU Brooks, Gilbert Allen 4 30/03/2015 50 19,305 176

Pason Systems Inc. DSU Brooks, Gilbert Allen 4 31/03/2015 50 20,243 938

Pason Systems Inc. DSU Cobbe, Murray Lynn 4 30/03/2015 56 13,051 119

Pason Systems Inc. DSU Cobbe, Murray Lynn 4 31/03/2015 56 13,988 937

Pason Systems Inc. DSU Collins, T Jay 4 30/03/2015 50 19,841 181



Pason Systems Inc. DSU Hess, Judi 4 31/03/2015 50 522

Pason Systems Inc. DSU Hess, Judi 4 31/03/2015 50 523 523

Pason Systems Inc. DSU Hess, Judi 4 31/03/2015 50 694 171

Pason Systems Inc. DSU Hill, James Douglas 3, 4, 5 30/03/2015 50 20,966 191

Pason Systems Inc. DSU Hill, James Douglas 3, 4, 5 31/03/2015 50 21,903 937

Pason Systems Inc. DSU Hill, James Douglas 3, 4, 5 31/03/2015 50 22,962 1,059

Pason Systems Inc. common share options Perry, Todd 5 31/03/2015 51 20.19 -8,334

Pason Systems Inc. common share options Perry, Todd 5 31/03/2015 51 99,666 -8,334

Pason Systems Inc. Common Shares Perry, Todd 5 31/03/2015 51 14,484 8,334

Pason Systems Inc. Common Shares Perry, Todd 5 31/03/2015 10 20.19 6,150 -8,334

Pathfinder Income Fund (Formerly Pathfinder Convertible Debenture Fund)

Trust Units Pathfinder Convertible Debenture Fund

1 31/03/2015 38 10.1 7,100,803 900

Pathfinder Income Fund (Formerly Pathfinder Convertible Debenture Fund)

Trust Units Pathfinder Convertible Debenture Fund

1 01/04/2015 10 10.13 7,092,803 -8,000

Pediapharm Inc. Convertible Debentures 12% senior secured

Lapalme, Pierre 4 10/12/2013 00


Lapalme, Pierre 4 30/03/2015 16 $100,000


Lapalme, Pierre 4 30/03/2015 16 0.45 $100,000 $100,000

Pediapharm Inc. Warrants Lapalme, Pierre 4 10/12/2013 00

Pediapharm Inc. Warrants Lapalme, Pierre 4 30/03/2015 53 0.33 60,600

Pediapharm Inc. Warrants Lapalme, Pierre 4 30/03/2015 16 0.33 60,600 60,600


Mueller, Michael Peter 4 31/05/2014 00


Mueller, Michael Peter 4 30/03/2015 16 $100,000


Mueller, Michael Peter 4 30/03/2015 16 0.45 $100,000 $100,000

Pediapharm Inc. Warrants Mueller, Michael Peter 4 31/05/2014 00

Pediapharm Inc. Warrants Mueller, Michael Peter 4 30/03/2015 53 0.33 60,600

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3534



Acquired/ Disposed

Pediapharm Inc. Warrants Mueller, Michael Peter 4 30/03/2015 16 0.33 60,600 60,600


Stuve, Douglas Murray 4 10/12/2013 00


Stuve, Douglas Murray 4 30/03/2015 16 0.45 $30,000 $30,000

Pediapharm Inc. Warrants Stuve, Douglas Murray 4 10/12/2013 00

Pediapharm Inc. Warrants Stuve, Douglas Murray 4 30/03/2015 53 0.33 18,180

Pediapharm Inc. Warrants Stuve, Douglas Murray 4 30/03/2015 16 0.33 18,180 18,180

Pelangio Exploration Inc. Options Bates, Warren Ross 5 27/03/2015 50 0.05 1,405,000 325,000

Pelangio Exploration Inc. Options Crossgrove, Peter Alexander

4 27/03/2015 50 0.05 550,000 100,000

Pelangio Exploration Inc. Options Eaton, Thor 4 27/03/2015 50 0.05 350,000 100,000

Pelangio Exploration Inc. Options Hibbard, Ingrid Jo-Ann 4, 5 27/03/2015 50 0.05 1,700,000 350,000

Pelangio Exploration Inc. Options Nurmi, Carl 4 27/03/2015 50 0.05 625,000 150,000

Pelangio Exploration Inc. Options Olson, Philip Eugene 4 27/03/2015 50 0.05 825,000 200,000

Pelangio Exploration Inc. Options Rokeby, Paul 5 27/03/2015 50 0.05 605,000 200,000

Pelangio Exploration Inc. Options Shaw, Ian 4 27/03/2015 50 0.05 575,000 125,000

Pembina Pipeline Corporation

Common Shares Andersen, Harold 5 31/03/2015 30 5,894 192


Common Shares Andersen, Harold 5 31/03/2015 30 5,938 44


Common Shares Burrows, J. Scott 5 31/03/2015 30 2,550 50


Common Shares Charlesworth, Allan 5 31/03/2015 30 858 258


Common Shares Charlesworth, Allan 5 31/03/2015 30 991 133


Common Shares D'Orazio, Claudia 5 31/03/2015 30 1,396 66


Common Shares D'Orazio, Claudia 5 31/03/2015 30 1,418 22


Common Shares Harker, Jennifer 5 15/02/2012 00


Common Shares Harker, Jennifer 5 31/03/2015 30 390 390


Common Shares Harker, Jennifer 5 15/02/2012 00


Common Shares Harker, Jennifer 5 31/03/2015 30 158 158


Common Shares Jones, Robert M. 5 01/10/2010 00


Common Shares Jones, Robert M. 5 31/03/2015 30 922 922


Common Shares Lock, Robert Duncan 5 31/03/2015 30 3,414 540


Common Shares Lock, Robert Duncan 5 31/03/2015 30 3,534 120


Common Shares Lock, Robert Duncan 5 02/04/2012 00


Common Shares Lock, Robert Duncan 5 31/03/2015 30 875 875


Common Shares Massecar, Michael 5 31/03/2015 30 18,350 606


Common Shares Massecar, Michael 5 31/03/2015 30 853 25


Common Shares Massecar, Michael 5 31/03/2015 30 349 12


Common Shares Murphy, Paul John 5 31/03/2015 30 1,125


Common Shares Murphy, Paul John 5 31/03/2015 30 9,982 125


Common Shares Smith, Brad 5 31/03/2015 30 5,992 16


Common Shares Sprott, Jaret 5 05/01/2015 00

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3535



Acquired/ Disposed


Common Shares Sprott, Jaret 5 31/03/2015 30 73 73


Common Shares Taylor, Stuart 5 31/03/2015 30 9,882 332


Common Shares Wiun, Jason Travis 5 04/09/2013 00


Common Shares Wiun, Jason Travis 5 31/03/2015 30 686 686

Pengrowth Energy Corporation

Common Shares Evans, Derek Watson 4, 5 31/12/2014 30 5.56 603,175 58,053


Debentures Series A McDougall, Marlon John 5 01/04/2013 11 $0 -$12,000


Debentures Series A McDougall, Marlon John 5 01/04/2013 11 $0 -$125,000


Common Shares Parrett, Michael S. 4 31/12/2014 30 5.16 28,385 2,301


Deferred Entitlement Shares

Parrett, Michael S. 4 31/12/2014 30 6.14 41,479 3,100


DSU Parrett, Michael S. 4 31/12/2014 30 6.12 63,602 4,491


Deferred Entitlement Shares

Zaozirny, John Brian 4 31/12/2014 30 6.14 71,707 5,359


DSU Zaozirny, John Brian 4 31/12/2014 30 6.13 100,640 7,128

Penn West Petroleum Ltd. Common Shares Luft, Keith 5 01/01/2011 00

Penn West Petroleum Ltd. Common Shares Luft, Keith 5 08/11/2013 90 2,000 2,000

Penn West Petroleum Ltd. Common Shares Luft, Keith 5 31/12/2014 90 2,107 107

Penn West Petroleum Ltd. Common Shares Luft, Keith 5 31/12/2014 90 13,671 -107

Penn West Petroleum Ltd. Common Shares Luft, Keith 5 18/12/2014 90 7,067 -9,300



Penn West Petroleum Ltd. Common Shares Luft, Keith 5 31/12/2014 30 8.1 15,202 436

Penn West Petroleum Ltd. Common Shares Luft, Keith 5 31/12/2014 30 7.56 20,069 4,867





Pennine Petroleum Corporation

Common Shares Gertz, Raymond H 4 30/03/2015 10 0.015 2,065,000 250,000





Peregrine Diamonds Ltd. Common Shares Boyd, Robert T. 4 31/03/2015 54 0.21 401,116 115,000

Peregrine Diamonds Ltd. Common Shares Boyd, Robert T. 4 30/03/2015 54 0.21 36,884 11,000

Peregrine Diamonds Ltd. Warrants Boyd, Robert T. 4 31/03/2015 54 0.21 30,000 -115,000

Peregrine Diamonds Ltd. Warrants Boyd, Robert T. 4 30/03/2015 54 0.21 0 -11,000

Peregrine Diamonds Ltd. Common Shares Cohen, Richard 4 01/04/2015 54 0.21 983,206 100,000

Peregrine Diamonds Ltd. Common Shares Cohen, Richard 4 02/04/2015 54 0.21 1,177,607 194,401

Peregrine Diamonds Ltd. Warrants Cohen, Richard 4 01/04/2015 54 0.21 194,402 -100,000

Peregrine Diamonds Ltd. Warrants Cohen, Richard 4 02/04/2015 54 0.21 1 -194,401

Peregrine Diamonds Ltd. Common Shares Downing, Beverly 5 01/04/2015 54 0.21 57,900 13,950

Peregrine Diamonds Ltd. Warrants Downing, Beverly 5 01/04/2015 54 0.21 0 -13,950

Peregrine Diamonds Ltd. Common Shares Friedland, Eric 3, 4, 5 01/04/2015 54 0.21 47,582,436 14,046,131

Peregrine Diamonds Ltd. Common Shares Friedland, Eric 3, 4, 5 01/04/2015 54 0.21 27,500

Peregrine Diamonds Ltd. Common Shares Friedland, Eric 3, 4, 5 01/04/2015 54 0.21 110,000 27,500

Peregrine Diamonds Ltd. Warrants Friedland, Eric 3, 4, 5 01/04/2015 54 0.21 0 -14,046,131

Peregrine Diamonds Ltd. Warrants Friedland, Eric 3, 4, 5 01/04/2015 54 0.21 0 -27,500

Peregrine Diamonds Ltd. Common Shares Friedland, Robert Martin 3, 6 01/04/2015 54 0.21 59,833,700 16,567,279

Peregrine Diamonds Ltd. Warrants Friedland, Robert Martin 3, 6 01/04/2015 54 0 -16,567,279

Peregrine Diamonds Ltd. Common Shares Meredith, Peter 4 30/03/2015 54 0.21 343,257 60,814

Peregrine Diamonds Ltd. Warrants Meredith, Peter 4 30/03/2015 54 0.21 0 -60,814

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3536



Acquired/ Disposed

Peregrine Diamonds Ltd. Common Shares Peregoodoff, Thomas 5 30/03/2015 54 0.21 293,000 73,250

Peregrine Diamonds Ltd. Warrants Peregoodoff, Thomas 5 30/03/2015 54 0.21 0 -73,250

Peregrine Diamonds Ltd. Common Shares Shenton, Greg 5 30/03/2015 54 0.21 36,232 9,058

Peregrine Diamonds Ltd. Warrants Shenton, Greg 5 30/03/2015 54 0.21 0 -9,058

Performance Sports Group Ltd. (formerly, Bauer Performance Sports Ltd.)

Common Shares Davis, Kevin 4, 5 30/03/2015 51 29,200 29,200


Common Shares Davis, Kevin 4, 5 30/03/2015 10 25.067 0 -29,200


Common Shares Davis, Kevin 4, 5 31/03/2015 51 10,616 10,616


Common Shares Davis, Kevin 4, 5 31/03/2015 10 25.002 0 -10,616


Options Rollover Options Davis, Kevin 4, 5 30/03/2015 51 6.97 70,800 -29,200


Options Rollover Options Davis, Kevin 4, 5 31/03/2015 51 6.97 60,184 -10,616

Perpetual Energy Inc. Common Shares Ward, Howard 4 30/06/2010 22 9,710

Perpetual Energy Inc. Common Shares Ward, Howard 4 30/06/2010 22 10,091 10,091

Perpetual Energy Inc. Common Shares Ward, Howard 4 30/06/2010 22 11,462

Perpetual Energy Inc. Common Shares Ward, Howard 4 30/06/2010 22 12,053 12,053

PHX Energy Services Corp. Retention Awards (Cash-based Only)

Athaide, Judith 4 31/03/2015 57 7.16 36,258 -2,348


Athaide, Judith 4 31/03/2015 56 7.16 41,540 5,282


Bailey, James Cameron 4 31/03/2015 56 7.16 26,256 5,520


Hibbard, Lawrence M. 4 31/03/2015 56 7.16 34,683 4,095


Hooks, John Michael 5 31/03/2015 57 7.16 197,813 -2,900


Hooks, John Michael 5 31/03/2015 56 7.16 202,739 4,926


Tetreault, Myron Arthur 4 31/03/2015 56 7.16 43,689 7,300


Thomas, Roger Dale 4 31/03/2015 56 7.16 24,441 3,071

Pinetree Capital Ltd. Options Fleming, Andrew 4 31/03/2015 50 0.16 600,000 200,000

Pinetree Capital Ltd. Options Goldberg, Gerald 4 31/03/2015 50 0.16 650,000 200,000

Pinetree Capital Ltd. Options Maruzzo, Bruno 4 31/03/2015 50 0.16 500,000 100,000

Pinetree Capital Ltd. Options Patricio, Richard J 5 31/03/2015 50 0.16 2,670,000 600,000

Pinetree Capital Ltd. Options Perry, Ronald S. 4 31/03/2015 50 0.16 500,000 100,000

Pinetree Capital Ltd. Options Pollack, Jonathan Manning 4 13/02/2015 00

Pinetree Capital Ltd. Options Pollack, Jonathan Manning 4 31/03/2015 50 0.16 150,000 150,000

Pinetree Capital Ltd. Options Steuter, Andrew 4 13/02/2015 00

Pinetree Capital Ltd. Options Steuter, Andrew 4 31/03/2015 50 0.16 150,000 150,000

Pinetree Capital Ltd. Options Varghese, John 4 16/02/2015 00

Pinetree Capital Ltd. Options Varghese, John 4 31/03/2015 50 0.16 150,000 150,000

Plus8 Global Ventures, Ltd. (formerly Royal Monashee Gold Corp.)

Common Shares Catalano, William Benjamin 4 02/04/2015 11 0.025 1,676,000 601,000

Potash Corporation of Saskatchewan Inc.

Common Shares Brownlee, Wayne Richard 5 30/03/2015 51 1,178,900 585,000


Common Shares Brownlee, Wayne Richard 5 30/03/2015 10 41.161 593,900 -585,000


Options Employee Stock Options

Brownlee, Wayne Richard 5 30/03/2015 51 12.21 1,276,550 -585,000


Common Shares Bubnick, Robert 5 01/08/2014 00 2,507

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3537



Acquired/ Disposed


Common Shares Bubnick, Robert 5 31/12/2014 30 37.828 2,600 93



Burley, Christopher Michael 4 05/02/2015 56 46.05 8,941 80



Burley, Christopher Michael 4 31/03/2015 56 40.83 9,372 431



CHYNOWETH, Donald 4 05/02/2015 56 46.05 7,580 68



CHYNOWETH, Donald 4 31/03/2015 56 40.83 8,384 804


Common Shares Dekok, Paul 5 01/07/2014 00 2,353


Common Shares Dekok, Paul 5 31/12/2014 30 34.762 2,609 256



Estey, John W. 4 05/02/2015 56 37.01 85,482 801



Estey, John W. 4 31/03/2015 56 32.25 86,335 853



Grandey, Gerald Wayne 4 05/02/2015 56 46.05 18,221 164



Grandey, Gerald Wayne 4 31/03/2015 56 40.83 19,828 1,607



Hoffman, C. Steven 4 05/02/2015 56 37.01 33,326 312



Hoffman, C. Steven 4 31/03/2015 56 32.25 35,031 1,705



Howe, Dallas J. 4 05/02/2015 56 46.05 122,383 1,100



Laberge, Alice D. 4 05/02/2015 56 46.05 64,222 577



Laberge, Alice D. 4 31/03/2015 56 40.83 64,785 563



Madere, Consuelo 4 05/02/2015 56 37.01 4,262 40



Madere, Consuelo 4 31/03/2015 56 32.25 5,890 1,628



Martell, Keith 4 05/02/2015 56 46.05 24,161 217



Martell, Keith 4 31/03/2015 56 40.83 24,850 689



McCaig, Jeffrey James 4 05/02/2015 56 46.05 116,092 1,043



McCaig, Jeffrey James 4 31/03/2015 56 40.83 117,899 1,807



Mogford, Mary 4 05/02/2015 56 46.05 91,686 824



Viyella de Paliza, Elena 4 05/02/2015 56 37.01 49,410 463

Power Corporation of Canada

Deferred Share Units Beaudoin, Pierre 4 31/03/2015 56 33.602 43,065 1,261


Deferred Share Units Coutu, Marcel R. 4 31/03/2015 56 33.571 21,004 1,236


Deferred Share Units Desmarais, André 4, 5 31/03/2015 56 33.62 68,034 1,533


Deferred Share Units Desmarais, Paul Jr. 4, 5 31/03/2015 56 33.62 47,242 1,071


Deferred Share Units Graham, Anthony R. 4 31/03/2015 56 33.61 53,083 1,376


Deferred Share Units Jackson, John David Allan 4 31/03/2015 56 33.553 4,728 647


Deferred Share Units Marcoux, Isabelle 4 31/03/2015 56 33.576 24,922 1,262


Deferred Share Units Orr, Robert Jeffrey 4 31/03/2015 56 33.604 43,783 1,230


Deferred Share Units Plessis-Bélair, Michel 5 31/03/2015 56 33.752 25,083 214

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3538



Acquired/ Disposed


Equity Forward Contract Power Corporation of Canada

1 01/04/2015 70 33.647 28 1


Equity Swap - Long Position PCC 2014-05


1 31/03/2015 70 33.24 5 1




1 17/02/2000 00




1 02/04/2015 70 33.764 1 1


Equity Swap - Long Position PCC1


1 31/03/2015 70 33.24 8 1


Deferred Share Units Rae, John Alain 5 31/03/2015 56 33.752 22,867 195


Deferred Share Units Rousseau, Henri-Paul 5 31/03/2015 56 33.752 7,325 62


Deferred Share Units Szathmary, Emoke Jolan Erzsebet

4 31/03/2015 56 33.636 35,554 672

Power Financial Corporation Deferred Share Units Bibeau, Marc A. 4 31/03/2015 56 37.011 28,924 1,088

Power Financial Corporation Deferred Share Units Desmarais, André 4, 5 31/03/2015 56 36.531 65,553 1,510

Power Financial Corporation Deferred Share Units Desmarais, Paul Jr. 4, 6, 5 31/03/2015 56 36.46 45,026 981

Power Financial Corporation Deferred Share Units Frère, Gérald 4 31/03/2015 56 36.167 41,601 742

Power Financial Corporation Deferred Share Units Graham, Anthony R. 4 31/03/2015 56 36.657 43,806 1,124

Power Financial Corporation Deferred Share Units Harder, Vernon Peter 4 31/03/2015 56 37.042 32,229 1,264

Power Financial Corporation Deferred Share Units Jackson, John David Allan 4 31/03/2015 56 37.518 3,692 417

Power Financial Corporation Deferred Share Units Orr, Robert Jeffrey 4, 6, 7, 5 31/03/2015 56 36.689 43,005 1,135

Power Financial Corporation Deferred Share Units Plessis-Bélair, Michel 5 31/03/2015 56 34.894 24,707 246

Power Financial Corporation Equity Forward Contract POWER FINANCIAL CORPORATION

1 01/04/2015 70 37.742 40 1

Power Financial Corporation Equity Swap - Long Position PFC 2015-03

POWER FINANCIAL CORPORATION

1 05/10/2001 00

Power Financial Corporation Equity Swap - Long Position PFC 2015-03

POWER FINANCIAL CORPORATION

1 02/04/2015 70 38.191 1 1

Power Financial Corporation Deferred Share Units Rousseau, Henri-Paul 5 31/03/2015 56 34.894 6,868 68

Power Financial Corporation Deferred Share Units roy, louise 4 31/03/2015 56 37.118 20,947 916

Power Financial Corporation Deferred Share Units Royer, Raymond 4 31/03/2015 56 36.529 95,285 2,192

Power Financial Corporation Deferred Share Units Szathmary, Emoke Jolan Erzsebet

4 31/03/2015 56 36.402 29,949 625

Precision Drilling Corporation Deferred Share Units - effective January 1, 2012

Donovan, William T. 4 31/03/2015 56 3,476


Donovan, William T. 4 31/03/2015 56 34,045 3,477


Gibson, Brian James 4 31/03/2015 46 7.91 49,199 6,606


Hagerman, Allen R. 4 31/03/2015 56 58,054 3,476


Hughes, Catherine Jeanne 4 31/03/2015 56 28,972 6,352


Letwin, Stephen Joseph James

4 31/03/2015 56 39,486 4,915


Meyers, Kevin Omar 4 31/03/2015 56 36,885 3,476


Murray, Patrick M. 4 31/03/2015 56 35,716 3,477


Phillips, Robert L. 4 31/03/2015 56 34,045 3,477

Primero Mining Corp. Common Shares Mallory, William James 5 28/03/2014 00

Primero Mining Corp. Common Shares Mallory, William James 5 30/03/2015 57 7,871 7,871

Primero Mining Corp. Common Shares Mallory, William James 5 30/03/2015 10 4.1982 3,908 -3,963

Primero Mining Corp. Rights Phantom Share Units

Mallory, William James 5 30/03/2015 57 55,417 -7,871

Primero Mining Corp. Common Shares Riley, Michael 4 30/03/2015 10 4.2783 31,000 6,000

Pro Real Estate Investment Trust

Deferred Units Beckerleg, James Walter 4, 5 31/12/2014 30 2.18 109,249 9,249


Deferred Units Lawlor, Gordon G. 5 31/12/2014 30 2.18 72,476 6,143

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3539



Acquired/ Disposed


Units Lawlor, Gordon G. 5 31/12/2014 30 2.1 76,375 3,425


Deferred Units Levitt, John 4 31/12/2014 30 2.18 28,648 2,398


Deferred Units Limoges, Gérard A. 4 31/12/2014 30 2.18 28,648 2,398


Units Limoges, Gérard A. 4 31/12/2014 30 2.12 58,094 2,761


Deferred Units Santoro, Vitale A. 4, 5 31/12/2014 30 2.18 24,556 2,056


Deferred Units Smith, Ronald 4 31/12/2014 30 2.18 24,556 2,056

Progressive Waste Solutions Ltd.(formerly IESI-BFC Ltd.)

Common Shares GRIMALDI, LORETO 5 31/03/2015 10 36.87 3,526


Common Shares GRIMALDI, LORETO 5 31/03/2015 30 36.87 6,227 3,526


Common Shares GRIMALDI, LORETO 5 01/04/2015 30 36.91 7,053 826


Common Shares KIDSON, IAN 5 31/03/2015 10 36.87 4,719


Common Shares KIDSON, IAN 5 31/03/2015 30 36.87 13,667 4,719


Common Shares KIDSON, IAN 5 01/04/2015 30 36.91 14,772 1,105


Common Shares MILLER, THOMAS 5 31/03/2015 10 29.59 3,008


Common Shares MILLER, THOMAS 5 31/03/2015 30 29.57 9,284 3,008


Common Shares MILLER, THOMAS 5 01/04/2015 30 29.52 10,118 834


Common Shares Pio, Domenic Dan 7 31/03/2015 10 36.87 4,813


Common Shares Pio, Domenic Dan 7 31/03/2015 30 36.87 74,460 4,813


Common Shares Pio, Domenic Dan 7 01/04/2015 30 36.92 75,587 1,127


Common Shares Quarin, Joseph 5 31/03/2015 10 36.87 12,206


Common Shares Quarin, Joseph 5 31/03/2015 30 36.87 12,206


Common Shares Quarin, Joseph 5 31/03/2015 30 36.87 111,987 12,206


Common Shares Quarin, Joseph 5 01/04/2015 30 36.91 114,845 2,858


Common Shares WALBRIDGE, KEVIN CHARLES

5 10/03/2015 10 29.59 6,557



5 31/03/2015 30 29.59 57,149 6,557



5 01/04/2015 30 29.5 58,969 1,820

ProntoForms Corporation Options Salyards, Charles Foster 5 23/02/2015 00

ProntoForms Corporation Options Salyards, Charles Foster 5 31/03/2015 50 800,000 800,000

Pulse Seismic Inc. Common Shares Bectold, Jeffrey Patrick 5 31/03/2015 57 2.95 121,946 12,854

Pulse Seismic Inc. Rights Performance Share Unit

Bectold, Jeffrey Patrick 5 31/03/2015 58 - Expiration

of rights

1.9 29,002 -22,727


Bectold, Jeffrey Patrick 5 31/03/2015 57 1.9 28,055 -947


Bectold, Jeffrey Patrick 5 31/03/2015 56 2.95 46,241 18,186

Pulse Seismic Inc. Rights Restricted Share Unit

Bectold, Jeffrey Patrick 5 31/03/2015 57 1.9 13,958 -11,907


Bectold, Jeffrey Patrick 5 31/03/2015 56 2.95 23,193 9,235

Pulse Seismic Inc. Common Shares Burnham, Peter James 4 31/03/2015 57 2.95 11,380 4,426

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3540



Acquired/ Disposed


Burnham, Peter James 4 31/03/2015 57 1.9 5,708 -4,426


Burnham, Peter James 4 31/03/2015 56 2.95 9,526 3,818

Pulse Seismic Inc. Common Shares Coleman, Neal James 5 31/03/2015 57 2.95 263,027 14,882


Coleman, Neal James 5 31/03/2015 58 - Expiration

of rights

1.9 38,223 -26,312


Coleman, Neal James 5 31/03/2015 57 1.9 37,127 -1,096


Coleman, Neal James 5 31/03/2015 56 2.95 58,561 21,434


Coleman, Neal James 5 31/03/2015 57 1.9 18,482 -13,786


Coleman, Neal James 5 31/03/2015 56 2.95 29,364 10,882

Pulse Seismic Inc. Common Shares Corbett, Daphne Elizabeth 4 31/03/2015 57 2.95 59,390 5,079

Pulse Seismic Inc. Rights Restriced Share Unit

Corbett, Daphne Elizabeth 4 31/03/2015 57 1.9 6,550 -5,079

Pulse Seismic Inc. Rights Restriced Share Unit

Corbett, Daphne Elizabeth 4 31/03/2015 56 2.95 10,932 4,382

Pulse Seismic Inc. Common Shares El-Tawil, Karen Elizabeth 4 21/05/2014 00

Pulse Seismic Inc. Common Shares El-Tawil, Karen Elizabeth 4 31/03/2015 57 2.95 1,761 1,761

Pulse Seismic Inc. Rights Restricted Share Unit (Common Shares)

El-Tawil, Karen Elizabeth 4 21/05/2014 56 3.48 7,338


El-Tawil, Karen Elizabeth 4 21/05/2014 56 3.48 7,338


El-Tawil, Karen Elizabeth 4 31/03/2015 57 3.48 5,577 -1,761


El-Tawil, Karen Elizabeth 4 31/03/2015 56 2.95 9,396 3,819

Pulse Seismic Inc. Common Shares GALE, Brent Donald 4 31/03/2015 57 2.95 216,845 3,176

Pulse Seismic Inc. Rights Restricted Share Units

GALE, Brent Donald 4 31/03/2015 57 1.9 5,792 -3,176

Pulse Seismic Inc. Rights Restricted Share Units

GALE, Brent Donald 4 31/03/2015 56 2.95 9,430 3,638

Pulse Seismic Inc. Common Shares Meier, Trevor Alan 5 31/03/2015 57 2.95 26,025 8,186

Pulse Seismic Inc. Rights LTIP (PSU) Performance Share Units

Meier, Trevor Alan 5 31/03/2015 58 - Expiration of rights

25,921 -14,496


Meier, Trevor Alan 5 31/03/2015 57 25,317 -604


Meier, Trevor Alan 5 31/03/2015 56 2.95 46,287 20,970

Pulse Seismic Inc. Rights LTIP Restricted Share Units (RSU)

Meier, Trevor Alan 5 31/03/2015 57 12,626 -7,582

Pulse Seismic Inc. Rights LTIP Restricted Share Units (RSU)

Meier, Trevor Alan 5 31/03/2015 56 2.95 23,175 10,549

Pulse Seismic Inc. Common Shares Robotti, Robert Edward 4 31/03/2015 57 2.95 22,875 4,426


Robotti, Robert Edward 4 31/03/2015 57 1.9 5,708 -4,426


Robotti, Robert Edward 4 31/03/2015 56 2.95 9,526 3,818

Pulse Seismic Inc. Common Shares Wicks, Pamela Darlene Elizabeth

5 31/03/2015 57 2.95 198,451 13,761


Wicks, Pamela Darlene Elizabeth

5 31/03/2015 58 - Expiration

of rights

1.9 -58,300



5 31/03/2015 58 - Expiration

of rights

1.9 -58,300

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3541



Acquired/ Disposed



5 31/03/2015 58 - Expiration

of rights

1.9 33,970 -24,330



5 31/03/2015 57 1.9 32,956 -1,014



5 31/03/2015 56 2.95 52,675 19,719



5 31/03/2015 57 1.9 16,402 -12,747



5 31/03/2015 56 2.95 26,413 10,011

Pulse Seismic Inc. Common Shares Zentner, Clark 4 31/03/2015 57 2.95 70,575 4,426


Zentner, Clark 4 31/03/2015 57 1.9 5,708 -4,426


Zentner, Clark 4 31/03/2015 56 2.95 9,527 3,819

Puma Exploration Inc. Common Shares Robillard, Marcel 4, 5 02/04/2015 10 0.11 2,014,500 10,000



Pure Technologies Ltd. Common Shares WRIGGLESWORTH, MICHAEL ROBERT

5 31/03/2015 30 8.29 82,120 1,322

PWC Capital Inc. (formerly Pacific & Western Credit Corp.)

Common Shares George, Eugene 3 26/03/2015 47 0 -743,500

PYROGENESIS CANADA INC.

Convertible Debentures Pascali, Peter Photis 3 11/07/2011 00






Convertible Debentures Pascali, Peter Photis 3 30/03/2015 16 0.8 $943,750


Convertible Debentures Pascali, Peter Photis 3 30/03/2015 16 0.8 $943,750


Convertible Debentures Pascali, Peter Photis 3 30/03/2015 16 0.8 $755,000 $755,000

Raging River Exploration Inc. Common Shares Olson, Kevin 4 31/03/2015 51 1,286,627 78,676

Raging River Exploration Inc. Common Shares Olson, Kevin 4 31/03/2015 10 8.874 1,236,627 -50,000

Raging River Exploration Inc. Options Olson, Kevin 4 31/03/2015 51 1.9 220,500 -100,000

Raging River Exploration Inc. Common Shares SAPIEHA, JERRY MICHAEL

5 31/03/2015 10 8.84 1,230,437 -50,000


5 31/03/2015 51 1,307,563 78,676


5 31/03/2015 10 8.84 1,282,563 -25,000

Raging River Exploration Inc. Options SAPIEHA, JERRY MICHAEL

5 31/03/2015 51 1.9 817,000 -100,000

Ravensource Fund (formerly The First Asia Income Fund)

Trust Units Reid, Scott 3 27/03/2015 10 12.4 158,800 200


Trust Units Reid, Scott 3 30/03/2015 10 12.4 159,300 500


Trust Units Reid, Scott 3 01/04/2015 10 12.4 160,300 1,000

Regal Lifestyle Communities Inc.

Common Shares Atterton, Harold 5 31/12/2014 30 8.47 44,531 2,110


Common Shares dato, edward j 4 05/06/2014 90 -22,000


Common Shares dato, edward j 4 05/06/2014 90 -22,000


Common Shares dato, edward j 4 05/06/2014 90 6,000 -22,000


Common Shares dato, edward j 4 31/12/2014 30 8.39 294


Common Shares dato, edward j 4 31/12/2014 30 8.39 294

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3542



Acquired/ Disposed


Common Shares dato, edward j 4 31/12/2014 30 8.39 6,294 294


Common Shares dato, edward j 4 31/12/2014 30 294












Common Shares dato, edward j 4 16/10/2012 00


Common Shares dato, edward j 4 05/06/2014 90 20,000




Common Shares dato, edward j 4 05/06/2014 90 20,000 20,000








Common Shares dato, edward j 4 16/10/2012 00






Common Shares dato, edward j 4 05/06/2014 90 2,000 2,000







REIT INDEXPLUS Income Fund

Trust Units REIT INDEXPLUS Income Fund

1 27/03/2015 38 13.053 7,884,378 1,300



1 30/03/2015 38 13.096 7,886,178 1,800



1 31/03/2015 38 13.063 7,890,678 4,500

Renforth Resources Inc. Common Shares Brewster, Norman 4 19/03/2015 10 0.035 398,500 -45,000

RESAAS Services Inc. Options Shippit, Cameron 4, 5 13/02/2015 52 1 0 -22,200

RESAAS Services Inc. Options St. Hilaire, Michael 5 13/02/2015 52 1 250,000 -200,000

Reservoir Minerals Inc. Common Shares Winn, Michael D. 4 26/03/2015 10 4.22 234,200 -1,000

Reservoir Minerals Inc. Common Shares Winn, Michael D. 4 26/03/2015 10 4.23 234,100 -100

Resinco Capital Partners Inc. Common Shares Poulus, Hein 4 25/03/2015 10 0.005 20,738,518 53,000




Retrocom Real Estate Investment Trust (formerly Retrocom Mid-Market Real Estate Investment Trust)

Units dato, edward j 4 31/12/2014 30 4.23 100,057 2,057


Units dato, edward j 4 31/03/2015 10 3.94 101,357 1,300

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3543



Acquired/ Disposed


Units dato, edward j 4 31/12/2014 30 4.15 14,905 905


Units Michaeloff, Richard Michael 4, 5 31/12/2014 30 4.26 6,378 1,378


Units Michaeloff, Richard Michael 4, 5 31/12/2014 30 4.28 38,004 3,004


Units Schiffer, David Andrew 4 31/12/2014 30 3.97 11,802 142


Units Wenner, Thomas Matthew 5 31/12/2014 30 4.03 9,337 337

Rheingold Exploration Corp. Common Shares Pedersen, Erik Paul 3, 4, 5 27/03/2015 10 0.02 963,135 26,000

Richards Packaging Income Fund

Trust Units Glynn, Gerard Walter 3, 4, 7 31/03/2015 47 15.72 438,436 -975,000


Trust Units Glynn, Gerard Walter 3, 4, 7 31/03/2015 47 15.72 1,300,000 975,000


Trust Units Prupas, David Lewis 7 30/03/2015 10 15.993 404,305 7,000


Trust Units Prupas, David Lewis 7 01/04/2015 10 15.7 406,805 2,500

Rio Novo Gold Inc. Options Carvalho, Julio Lameiras 4, 5 08/03/2015 52 700,000 -1,125,000

Rio Novo Gold Inc. Options Dorson, William Scot 4 08/03/2015 52 250,000 -250,000

Ritchie Bros. Auctioneers Incorporated


Cooksley, William Allen 5 31/03/2015 59 25.67 5,395 -788



Glenn, Brian Lewis 5 31/03/2015 59 25.67 4,122 -531



Holm, Kieran 5 31/03/2015 59 25.67 3,288 -397



Johnston, Michael D. 5 31/03/2015 59 25.67 5,766 -711



Lawson, Jacob Wyatt 5 31/03/2015 59 25.67 10,419 -496



Mcleod, Robert Alastair 5 31/03/2015 59 25.67 10,189 -1,346



Piekaar, Oliver 5 31/03/2015 59 25.67 2,795 -369



Pospiech, Victor 5 31/03/2015 59 25.67 4,424 -586



Rijk, Jeroen 5 31/03/2015 59 25.67 6,770 -850



Sgro, Anna 5 31/03/2015 59 25.67 5,440 -785



Simpson, Steve 5 31/03/2015 59 25.67 17,206 -2,208



Watt, Darren 5 31/03/2015 59 25.67 2,969 -392



Werner, Karl William 5 31/03/2015 59 25.67 8,008 -757

Rock Energy Inc. Common Shares Bey, Allen J. 4, 5 30/03/2015 30 2.467 265,599 869

Rock Energy Inc. Common Shares Campbell, Jeffrey G. 5 30/03/2015 30 2.467 298,061 793

Rock Energy Inc. Common Shares Clark, Stuart George 4 01/04/2015 51 1.18 68,876 6,667

Rock Energy Inc. Common Shares Clark, Stuart George 4 01/04/2015 51 1.1 78,876 10,000

Rock Energy Inc. Options Clark, Stuart George 4 01/04/2015 51 56,333 -6,667

Rock Energy Inc. Options Clark, Stuart George 4 01/04/2015 51 46,333 -10,000

Rock Energy Inc. Common Shares Hirtle, Gregory Todd 5 30/03/2015 30 2.467 75,028 726

Rock Energy Inc. Common Shares Kober, Scott 5 30/03/2015 30 2.467 22,060 658

Rock Energy Inc. Common Shares McDonald, Joshua 5 30/03/2015 30 2.467 6,651 726

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3544



Acquired/ Disposed

Rockshield Capital Corp. Common Shares Planet Mining Exploration Inc.

3 27/03/2015 10 0.11 5,860,500 23,000

Rockshield Capital Corp. Common Shares Planet Mining Exploration Inc.

3 30/03/2015 10 0.11 6,013,500 153,000

Rocky Mountain Dealerships Inc.

Rights DSU Hoffman, Dennis J. 4 31/03/2015 56 22,976 295


Rights DSU Hoffman, Dennis J. 4 01/04/2015 56 23,976 1,000


Rights DSU Mackay, Robert King 4 31/03/2015 56 7,319 94


Rights DSU Mackay, Robert King 4 01/04/2015 56 8,319 1,000


Rights DSU Priestner, Patrick John 4 31/03/2015 56 22,976 295


Rights DSU Priestner, Patrick John 4 01/04/2015 56 23,976 1,000


Rights DSU Tannas, Scott 4 31/03/2015 56 2,039 26


Rights DSU Tannas, Scott 4 01/04/2015 56 3,039 1,000


Rights DSU Walters, Paul 4 31/03/2015 56 26,099 335


Rights DSU Walters, Paul 4 01/04/2015 56 27,599 1,500


Rights DSU Zehl, Tracey Lynn 4 31/03/2015 56 1,013 13


Rights DSU Zehl, Tracey Lynn 4 01/04/2015 56 2,013 1,000

Rogers Communications Inc. Deferred Share Units Birchall, Charles William David

4 31/03/2015 56 47,198 579

Rogers Communications Inc. Deferred Share Units Clappison, John 4 31/03/2015 56 26,412 223

Rogers Communications Inc. Deferred Share Units MacDonald, John A. 4 31/03/2015 56 262

Rogers Communications Inc. Deferred Share Units MacDonald, John A. 4 31/03/2015 56 262

Rogers Communications Inc. Deferred Share Units MacDonald, John A. 4 31/03/2015 56 9,253 306

Rogers Communications Inc. Deferred Share Units Marcoux, Isabelle 4 31/03/2015 56 23,889 292

Rogers Communications Inc. Deferred Share Units Peterson, David Robert 4 31/03/2015 56 85,357 502

Rogers Communications Inc. Deferred Share Units Rogers, Loretta A. 4, 6 31/03/2015 56 73,362 425

Rogers Communications Inc. Deferred Share Units Rogers, Martha 4, 6 31/03/2015 56 25,973 425

Rogers Communications Inc. Deferred Share Units Sirois, Charles 4 31/03/2015 56 45.33 14,475 805

Rogers Communications Inc. Deferred Share Units Sirois, Charles 4 01/04/2015 30 43.17 14,627 152

Rogers Sugar Inc. Common Shares Belkin, Alton Stuart 3, 4 01/04/2015 10 4.58 156,199 1,332

Rogers Sugar Inc. Common Shares Belkin, Alton Stuart 3, 4 01/04/2015 10 4.575 156,299 100

Rogers Sugar Inc. Common Shares BERGMAME, Dean 4 01/04/2015 10 4.589 30,639 973

Rogers Sugar Inc. Common Shares DESBIENS, MICHEL 4 01/04/2015 10 4.576 49,769 1,930

Rogers Sugar Inc. Common Shares Heskin, Michael Andrew 7 01/04/2015 10 4.59 23,006 1,093

Rogers Sugar Inc. Common Shares Jewell, Donald 7 01/04/2015 10 4.57 85,332 1,326

Rogers Sugar Inc. Common Shares Lafrance, Daniel 5 01/04/2015 10 4.57 35,950 683

Rogers Sugar Inc. Common Shares Maslechko, William S. 4 01/04/2015 10 4.58 20,507 682

Rogers Sugar Inc. Common Shares Ross, M. Dallas H. 4 01/04/2015 10 4.58 33,248 23



RONA inc. Unités d'actions différées / Deferred Share Unit

Blanchet, Suzanne 4 29/03/2015 56 15.994 27,869 1,613


Brunet, Réal 4 29/03/2015 56 15.994 32,828 144


Chevrier, Robert 4, 5 29/03/2015 56 15.994 90,247 8,160


Claus, Eric Albert James 4 29/03/2015 56 15.994 13,469 1,565


Dorval, T Bernard 4 29/03/2015 56 15.994 17,000 1,876


Dufresne, Guy 4 29/03/2015 56 15.994 16,285 2,549

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3545



Acquired/ Disposed


Gilbertson, Barry Gordon 4 29/03/2015 56 15.994 14,523 1,415


Pantelidis, James 4 29/03/2015 56 15.994 56,450 248


Paré, Robert 4 29/03/2015 56 15.994 66,427 2,334


Richardson, Steven P. 4 29/03/2015 56 15.994 13,873 1,567

RONA inc. Equity Swap - Long Position 1 500 000 actions | Échéance 27 mars 2018

RONA inc. 1 01/12/2003 00

RONA inc. Equity Swap - Long Position 1 500 000 actions | Échéance 27 mars 2018

RONA inc. 1 27/03/2015 70 1 1


Voorheis, George Wesley Thomas

4 29/03/2015 56 15.994 14,976 1,331

Rosa Capital Inc. Common Shares Geremia, Massimo Mario 4 27/03/2015 10 0.06 252,000 48,000

Route1 Inc. Warrants Chodos, Peter F. 4 26/02/2015 55 0 -500,000

Royal Nickel Corporation Rights Restricted Share Units

Goudie, Peter James 4 10/12/2010 00


Goudie, Peter James 4 31/03/2015 56 26,666 26,666


Hand, Scott McKee 4, 5 10/12/2010 00


Hand, Scott McKee 4, 5 31/03/2015 56 83,333 83,333


Jones, Peter Clark 4 10/12/2010 00


Jones, Peter Clark 4 31/03/2015 56 30,000 30,000


Marzoli, Frank 4 10/12/2010 00


Marzoli, Frank 4 31/03/2015 56 20,000 20,000


Marzoli, Frank 4 01/04/2015 56 43,750


Marzoli, Frank 4 01/04/2015 56 43,750


Masson, Gilles 4 10/12/2010 00


Masson, Gilles 4 31/03/2015 56 30,000 30,000


McInnes, Donald Arthur 4 17/06/2014 00


McInnes, Donald Arthur 4 31/03/2015 56 0.3 20,000 20,000


Mitchelson, Tyler Scott 4 31/03/2015 56 16,666 16,666


Muinonen, Johnna Louise 5 01/04/2015 56 339,095 43,750


Selby, Mark Thomas Henry 5 01/04/2015 56 682,859 72,916


Sittler, Darryl 4 10/12/2010 00


Sittler, Darryl 4 31/03/2015 56 20,000 20,000


St-Jean, Joseph Alger Raymond

5 01/04/2015 56 271,283 8,750

Russel Metals Inc. Rights Deferred Share Units (cash settled)

Benedetti, Alain 4 31/03/2015 56 29,126 1,363


Clark, John 4 31/03/2015 56 12,257 1,363


Dinning, James Francis 4 31/03/2015 56 19,117 722


Hanna, John 4 31/03/2015 56 12,054 1,404

Russel Metals Inc. Common Shares Kelly, Maureen Ann 5 26/03/2015 10 15.85 14,000

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3546



Acquired/ Disposed

Russel Metals Inc. Common Shares Kelly, Maureen Ann 5 26/03/2015 51 15.85 41,379 14,000


Laberge, Alice D. 4 31/03/2015 56 13,078 722


Lachapelle, Lise 4 31/03/2015 56 19,117 722


O'Reilly, William Michael 5 31/03/2015 56 14,396 722


Tulloch, John Russell 4 31/03/2015 56 3,415 722

Rye Patch Gold Corp. Common Shares Howald, William Carl 4, 5 27/03/2015 10 0.15 2,509,000 5,000

Saputo Inc. Options Brockman, Terry 7, 5 01/04/2015 50 784,281 77,537

Saputo Inc. Unités d'actions de performance / Performance Share Units

Brockman, Terry 7, 5 01/04/2015 56 35.08 65,568 19,384

Saputo Inc. Options Canuto, Gianfranco 7 01/04/2015 50 76,041 17,959


Canuto, Gianfranco 7 01/04/2015 56 35.08 5,792 1,924

Saputo Inc. Options Carrière, Louis-Philippe 7, 5 01/04/2015 50 506,125 95,781


Carrière, Louis-Philippe 7, 5 01/04/2015 56 35.08 77,495 23,945

Saputo Inc. Common Shares Colizza, Carl 5 01/04/2015 00 6,517

Saputo Inc. Options Colizza, Carl 5 01/04/2015 00 115,064

Saputo Inc. Options Colizza, Carl 5 01/04/2015 50 160,674 45,610


Colizza, Carl 5 01/04/2015 00


Colizza, Carl 5 01/04/2015 00 5,834


Colizza, Carl 5 01/04/2015 56 35.08 17,237 11,403

Saputo Inc. Options Corney, Paul 7, 5 01/04/2015 50 175,623 57,013


Corney, Paul 7, 5 01/04/2015 56 35.08 32,097 14,253

Saputo Inc. Options Dello Sbarba, Dino 5 01/04/2015 50 700,830 111,174


Dello Sbarba, Dino 5 01/04/2015 56 35.08 92,416 27,794

Saputo Inc. Options Edwards, Robert L. 7 01/04/2015 50 49,442 10,604


Edwards, Robert L. 7 01/04/2015 56 35.08 2,990 1,060

Saputo Inc. Options McNaughton, Susan 7 01/04/2015 50 92,308 6,532

Saputo Inc. Options Palombaro, Gabriel 5 01/04/2015 50 110,384 19,540


Palombaro, Gabriel 5 01/04/2015 56 35.08 6,592 2,094

Saputo Inc. Options Rivard, Richard 5 01/04/2015 50 53,616 24,344


Rivard, Richard 5 01/04/2015 56 35.08 5,744 2,608

Saputo Inc. Options Rothstein, David 7 01/04/2015 50 34,158 12,170


Rothstein, David 7 14/10/2014 00


Rothstein, David 7 01/04/2015 56 35.08 1,217 1,217

Saputo Inc. Options St-Jean, Louise 5 01/04/2015 50 88,503 19,899


St-Jean, Louise 5 01/04/2015 56 35.08 6,718 2,132

Saputo Inc. Options Therrien, Maxime 5 01/04/2015 50 166,397 31,927

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3547



Acquired/ Disposed


Therrien, Maxime 5 01/04/2015 56 35.08 9,689 3,991

Saputo Inc. Options Turcotte, Patrick 5 01/04/2015 50 46,306 9,122


Turcotte, Patrick 5 14/07/2014 00


Turcotte, Patrick 5 01/04/2015 56 35.08 912 912

Saputo Inc. Options Viger, Isabelle 5 01/04/2015 50 139,673 31,015


Viger, Isabelle 5 01/04/2015 56 35.08 9,633 3,877

Saputo Inc. Options Wagner, Gaétane 5 01/04/2015 50 276,092 65,564


Wagner, Gaétane 5 01/04/2015 56 35.08 49,021 16,391

Savanna Energy Services Corp.

Deferred Share Units (Directors) (cash based only)

Brooks, Gilbert Allen 4 31/03/2015 56 2.72 90,529 988


Deferred Share Units (Officers) (cash based only)

Chow, George K. 5 31/03/2015 56 2.72 22,342 244



Cosby, Stella 4 31/03/2015 56 2.21 26,264 7,843



Draudson, Darcy 5 31/03/2015 56 2.72 22,342 244



Hooks, John Michael 4 31/03/2015 56 2.21 189,936 17,599



LaMontagne, Dwayne Kevin 5 31/03/2015 56 2.72 22,342 244



NUGENT, Kevin 4 31/03/2015 56 2.72 128,092 1,397



SAUNDERS, JAMES MACLEO

4 31/03/2015 56 2.21 210,854 15,617



Strong, Christopher Davis 4 31/03/2015 56 2.21 48,026 13,666



Wilson, Tor David 4 31/03/2015 56 2.72 127,472 1,391

Savaria Corporation Options Berthiaume, Robert 4 26/03/2015 50 5.5 25,000

Savaria Corporation Options Berthiaume, Robert 4 26/03/2015 50 5.5 25,000 25,000

Savaria Corporation Options Chapdelaine, Jean-Louis 4 26/03/2015 50 5.5 75,000 25,000

Savaria Corporation Common Shares Drutz, Peter Allen 4 31/03/2015 10 5.3 132,666 -3,100

Savaria Corporation Common Shares Drutz, Peter Allen 4 31/03/2015 10 5.31 132,266 -400



Savaria Corporation Common Shares Drutz, Peter Allen 4 31/03/2015 10 5.4 124,766 -500

Savaria Corporation Options Drutz, Peter Allen 4 26/03/2015 50 5.5 75,000 25,000

Savaria Corporation Common Shares Dumoulin, Sylvain 4 31/03/2015 10 5.3195 30,000 -20,000

Scandium International Mining Corp.

Common Shares Thompson, John David 5 02/04/2015 51 0.05 1,190,000 100,000

Scandium International Mining Corp.

Options Thompson, John David 5 02/04/2015 51 1,050,000 -100,000

Seabridge Gold Inc. Common Shares Barr, Douglass Scott 4 29/06/2011 00

Seabridge Gold Inc. Common Shares Barr, Douglass Scott 4 26/03/2015 10 6 5,000 5,000

Seabridge Gold Inc. Common Shares FCMI Financial Corporation 3 30/03/2015 10 5.55 694,925 38,900


Seabridge Gold Inc. Common Shares FCMI Financial Corporation 3 31/03/2015 10 5.55 38,900

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3548



Acquired/ Disposed







Seabridge Gold Inc. Common Shares FCMI Financial Corporation 3 02/04/2015 10 7.23 769,630 600

Secure Energy Services Inc. Common Shares Employee Share Ownership Plan

Amirault, Rene 3, 4, 5 16/03/2015 35 14.365 29,687 17

Secure Energy Services Inc. Rights Performance Unit Awards

Amirault, Rene 3, 4, 5 16/03/2015 35 45,785 53

Secure Energy Services Inc. Units Restricted Share Units

Amirault, Rene 3, 4, 5 16/03/2015 35 46,288 53


Gransch, Allen Peter 5 16/03/2015 35 14.365 14,437 145

Secure Energy Services Inc. Common Shares MUNRO, BRADLEY R. 4, 7 30/03/2015 10 50,000 -5,000


WADSWORTH, GEORGE 7 16/03/2015 35 14.365 10,421 5

Selwyn Resources Ltd. Common Shares Miller, III, Lloyd I. 3 28/01/2015 00 13,000

Selwyn Resources Ltd. Common Shares Miller, III, Lloyd I. 3 12/03/2015 10 1.5822 16,500 3,500








Selwyn Resources Ltd. Common Shares Miller, III, Lloyd I. 3 26/02/2015 10 1.6063 133,470 400


Selwyn Resources Ltd. Common Shares Miller, III, Lloyd I. 3 27/03/2015 10 1.5947 136,070 900




Senvest Capital Inc. Common Shares Malikotsis, George 5 01/04/2015 51 21.5 73,500 10,000

Senvest Capital Inc. Options Malikotsis, George 5 01/04/2015 51 21.5 0 -10,000

Senvest Capital Inc. Common Shares Mashaal, Richard 4, 5 01/04/2015 51 21.5 262,900 10,000

Senvest Capital Inc. Options Mashaal, Richard 4, 5 01/04/2015 51 21.5 0 -10,000

Senvest Capital Inc. Common Shares Mashaal, Victor 3, 4, 5 01/04/2015 51 21.5 198,329 20,000

Senvest Capital Inc. Options Mashaal, Victor 3, 4, 5 01/04/2015 51 21.5 0 -20,000

Seven Generations Energy Ltd.

Common Shares Class A Carlson, Patrick Beverley 5 29/10/2014 00


Common Shares Class A Carlson, Patrick Beverley 5 29/10/2014 00 1,141,592


Common Shares Class B (Convertible for 2 Class A Common Shares)

Carlson, Patrick Beverley 5 29/10/2014 00


Common Shares Class B (Convertible for 2 Class A Common Shares)

Carlson, Patrick Beverley 5 29/10/2014 00

SHAW COMMUNICATIONS INC.

Directors' Deferred Share Units (DDSU)

Green, Richard R. 4 31/03/2015 30 22.43 37,804 393



Keating, Gregory John 4 31/03/2015 30 28.52 39,255 342



Pew, Paul Kenneth 4 31/03/2015 30 28.52 60,341 715



Royer, Jeffrey 4 31/03/2015 30 28.56 63,720 426



Weatherill, Sheila Christine 4 31/03/2015 30 28.51 32,285 319

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3549



Acquired/ Disposed

Sierra Wireless, Inc. Common Shares Guillemette, Philippe Frederic Joel Rene

5 24/02/2015 57 1,778

Sierra Wireless, Inc. Common Shares Guillemette, Philippe Frederic Joel Rene

5 24/02/2015 57 4,188 965

Sierra Wireless, Inc. Restricted Share Units Guillemette, Philippe Frederic Joel Rene

5 24/02/2015 57 -3,282

Sierra Wireless, Inc. Restricted Share Units Guillemette, Philippe Frederic Joel Rene

5 24/02/2015 57 20,423 -1,782

Silver Standard Resources Inc.

Deferred Share Unit ANGLIN, Mike Arthur E. 4 01/04/2015 56 6.11 74,279 5,728


Deferred Share Unit Herrero, Gustavo Adolfo 4 01/04/2015 56 6.11 45,401 5,932


Deferred Share Unit Park, Beverlee Faye 4 01/04/2015 56 6.11 17,624 5,523


Deferred Share Unit Paterson, Richard 4 01/04/2015 56 6.11 77,460 6,137


Deferred Share Unit Reid, Steven Paul 4 01/04/2015 56 6.11 32,703 4,603


Deferred Share Unit TOMSETT, PETER WILLIAM

4 01/04/2015 56 6.11 135,262 10,229

Silver Wheaton Corp. Common Shares Nesmith, Wade Donald 4 30/03/2015 57 33.71 21,944 1,500

Silver Wheaton Corp. Common Shares Nesmith, Wade Donald 4 31/03/2015 10 24.2 21,844 -100

Silver Wheaton Corp. Common Shares Nesmith, Wade Donald 4 31/03/2015 10 24.2 20,444 -1,400








Silver Wheaton Corp. Subscription Rights Nesmith, Wade Donald 4 30/03/2015 57 33.71 6,750 -1,500

Silver Wheaton Corp. Common Shares Smallwood, Randy 5 26/03/2015 51 15.89 411,200 225,000

Silver Wheaton Corp. Common Shares Smallwood, Randy 5 26/03/2015 10 25.5 405,200 -6,000



Silver Wheaton Corp. Options Smallwood, Randy 5 26/03/2015 51 15.89 1,008,500 -225,000

Skyline International Development Inc.

Common Shares Blutrich, Gil Dov 4, 6 14/05/2014 00 575,240


Common Shares Blutrich, Gil Dov 4, 6 12/01/2015 10 5.82 575,350 110










Common Shares Blutrich, Gil Dov 4, 6 30/03/2015 10 7.36 431,430 -145,920


Common Shares Shriki, Rami 4 14/05/2014 00


Common Shares Shriki, Rami 4 08/06/2014 10 8.14 1,900 1,900


Common Shares Shriki, Rami 4 08/01/2015 10 5.5 4,200 2,300


Common Shares Shriki, Rami 4 29/03/2015 10 7.24 4,852 652


Common Shares Shriki, Rami 4 30/03/2015 10 7.77 4,941 89


Common Shares Shub, Vadim 5 02/04/2015 10 7.23 0 -2,700

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3550



Acquired/ Disposed

SMART Technologies Inc. Subordinate Voting Shares Class A Subordinate Voting Shares

BARKLEY, WARREN VINCENT

5 17/03/2015 10 1.22 24,583 -7,600

SNC-Lavalin Group Inc. Unités d'actions différées (administrateurs)

Bougie, Jacques 4 31/03/2015 56 40.41 4,656 681


HAMMICK, Patricia A. 4 31/03/2015 56 40.41 14,951 681


Lachapelle, Lise 4 31/03/2015 56 40.41 4,656 681


Mongeau, Claude 4 31/03/2015 56 40.41 32,696 681


PARKER, Michael D. 4 31/03/2015 56 40.41 14,203 681


Rheaume, Alain 4 31/03/2015 56 40.41 4,656 681


Sbiti, Chakib 4 31/03/2015 56 40.41 6,729 681


SIEGEL, Eric 4 31/03/2015 56 40.41 9,762 681


STEVENSON, Lawrence N. 4 31/03/2015 56 40.41 19,355 780

Solegear Bioplastic Technologies Inc. (formerly Rodeo Capital III Corp.)

Common Shares Antoniadis, Paul John 4 26/03/2015 00


Common Shares Antoniadis, Paul John 4 26/03/2015 22 0.25 789,584 789,584


Common Shares Antoniadis, Paul John 4 26/03/2015 00


Common Shares Antoniadis, Paul John 4 26/03/2015 22 0.25 299,784 299,784


Options Antoniadis, Paul John 4 26/03/2015 00


Options Antoniadis, Paul John 4 26/03/2015 50 0.25 23,315 23,315


Warrants Antoniadis, Paul John 4 26/03/2015 00


Warrants Antoniadis, Paul John 4 26/03/2015 53 0.35 133,589 133,589


Options Harvey, James Noel 5 26/03/2015 00


Options Harvey, James Noel 5 26/03/2015 50 0.25 29,144 29,144


Options Holmes, Daniel Austin 5 26/03/2015 00


Options Holmes, Daniel Austin 5 26/03/2015 50 0.25 55,374 55,374


Options Holmes, Daniel Austin 5 26/03/2015 50 0.25 1,410,374 1,355,000


Options Labonte, Michel 5 26/03/2015 00


Options Labonte, Michel 5 26/03/2015 50 0.25 23,315 23,315


Common Shares Reid, Toby Simon Oliver 4, 5 26/03/2015 00

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3551



Acquired/ Disposed


Common Shares Reid, Toby Simon Oliver 4, 5 26/03/2015 22 0.25 1,952,619 1,952,619


Options Reid, Toby Simon Oliver 4, 5 26/03/2015 00


Options Reid, Toby Simon Oliver 4, 5 26/03/2015 50 0.25 43,716 43,716


Options Reid, Toby Simon Oliver 4, 5 26/03/2015 50 0.25 1,453,716 1,410,000


Common Shares Thomson, Michael Gary 3, 4, 5 26/03/2015 37 1,085,714 -814,286


Common Shares Thomson, Michael Gary 3, 4, 5 26/03/2015 22 514,285 -571,429


Options Thomson, Michael Gary 3, 4, 5 26/03/2015 22 142,857 -107,143


Common Shares Yaletown Ventures II GP Inc.

3 26/03/2015 00


Common Shares Yaletown Ventures II GP Inc.

3 26/03/2015 22 0.25 20,947,965 20,947,965


Warrants Yaletown Ventures II GP Inc.

3 26/03/2015 00



3 26/03/2015 53 0.191 239,792 239,792



3 26/03/2015 53 0.35 4,955,902 4,716,110


Common Shares Zadra, Jim 4 26/03/2015 00


Common Shares Zadra, Jim 4 26/03/2015 22 0.25 60,000 60,000


Warrants Zadra, Jim 4 26/03/2015 00


Warrants Zadra, Jim 4 26/03/2015 53 0.35 30,000 30,000

SoMedia Networks Inc. Common Shares Fleming, George 4 26/03/2015 90 22,500 -115,625



SoMedia Networks Inc. Common Shares Fleming, George 4 25/03/2015 10 0.26 872,399 -200,000

SoMedia Networks Inc. Common Shares Fleming, George 4 26/03/2015 90 988,024 115,625

SoMedia Networks Inc. Common Shares Fleming, George 4 26/03/2015 90 1,022,399 34,375

SouthGobi Resources Ltd. Options Chuluun, Munkhbat 7 13/03/2015 00 8,885

Spectral Medical Inc. Common Shares Toray Industries, Inc. 3 01/04/2015 16 0.553 42,773,105 9,041,592

Spot Coffee (Canada) Ltd. Common Shares AYOUB, ANTON MICHEL 4, 5 30/03/2015 10 0.03 746,458 2,000

Spot Coffee (Canada) Ltd. Common Shares Lorenzo, John Michael 4 02/04/2015 10 0.035 4,551,324 30,000

Sprylogics International Corp.

Common Shares Igelman, Marvin Moses 4 12/03/2015 11 0.4 762,478 504,677

Sprylogics International Corp.

Options Igelman, Marvin Moses 4 12/03/2015 11 0.5 1,827,339 252,339

ST ANDREW GOLDFIELDS LTD.

Options PELLETIER, MARC-ANDRE

5 12/03/2015 00

ST ANDREW GOLDFIELDS LTD.

Options PELLETIER, MARC-ANDRE

5 12/03/2015 00 421,666

Stantec Inc. Common Shares Allen, Richard 7, 5 31/12/2014 30 30.5 41,999 1,343

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3552



Acquired/ Disposed

Stantec Inc. Common Shares Performance Share Units

Allen, Richard 7, 5 31/12/2014 56 11,928 136

Stantec Inc. Common Shares Performance Share Units

Allen, Richard 7, 5 03/03/2015 56 32.01 25,634 13,706

Stantec Inc. Common Shares Restricted Share Units

Allen, Richard 7, 5 31/12/2014 56 16,705 85

Stantec Inc. Options Allen, Richard 7, 5 03/03/2015 50 32.01 60,534 22,568

Star Navigation Systems Group Ltd.

Common Shares KAPADIA, VIRAF SAVAK 3, 4 01/04/2015 10 0.035 8,034,733 50,000

Stella-Jones Inc. Common Shares Bourgault, Lyne 7 27/06/2014 30 29.32 4,222 10




Stella-Jones Inc. Common Shares Campbell, Shane Douglas 7 15/09/2014 30 29.15 131 37

Stella-Jones Inc. Common Shares Campbell, Shane Douglas 7 15/12/2014 30 34.59 159 28

Stella-Jones Inc. Common Shares Caric, George 7 27/06/2014 30 29.32 1,688 3




Stella-Jones Inc. Common Shares Comerford, Kevin Patrick 7 15/06/2014 30 29.15 476 100



Stella-Jones Inc. Common Shares Downy, William Garfield Jr. 7 27/06/2014 30 29.32 1,007 2




Stella-Jones Inc. Common Shares Eichenbaum, Marla 5 26/06/2014 30 28.92 4,061 10



Stella-Jones Inc. Common Shares Eichenbaum, Marla 5 27/06/2014 30 29.32 18





Stella-Jones Inc. Common Shares Fox, Doug 7 26/06/2014 30 29.154 8,596 145




Stella-Jones Inc. Common Shares Hedding, Kris David 7 27/06/2014 30 29.32 517 1




Stella-Jones Inc. Common Shares McManus, Brian 4, 5 27/06/2014 30 29.32 7,339 17

Stella-Jones Inc. Common Shares McManus, Brian 4, 5 26/09/2014 10 28.92 7,357 18

Stella-Jones Inc. Common Shares Poirier, Martin 5 27/06/2014 30 29.32 1,311 3




Stella-Jones Inc. Common Shares Powell, Douglas W. 7 15/09/2014 30 26.238 208 26

Stella-Jones Inc. Common Shares Powell, Douglas W. 7 15/12/2014 30 31.13 228 20

Stella-Jones Inc. Common Shares Vachon, Eric 7 27/06/2014 30 29.32 3,549 8




Stella-Jones Inc. Common Shares Younce, Jon 7 27/06/2014 30 29.32 1,340 2




Stella-Jones Inc. Common Shares Zeegers, Ronald Leo 7 15/09/2014 30 26.238 238 11

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3553



Acquired/ Disposed



Sterling Resources Ltd. Common Shares Ulrich, Jacob Shields 4 31/03/2015 10 0.138 632,100 200,000

Sterling Resources Ltd. Common Shares Ulrich, Jacob Shields 4 31/03/2015 10 0.1309 724,100 92,000

Stonegate Agricom Ltd. Common Shares McDonald, Ian James 4 27/03/2015 90 5,509,436 1,191,000

Stonegate Agricom Ltd. Common Shares McDonald, Ian James 4 27/03/2015 90 0 -1,191,000

Stonegate Agricom Ltd. Warrants July 2015 McDonald, Ian James 4 27/03/2015 90 707,000 667,000

Stonegate Agricom Ltd. Warrants July 2015 McDonald, Ian James 4 27/03/2015 90 0 -667,000

Storm Resources Ltd. Common Shares Brister, Matthew 4 31/12/2014 30 4.92 173,209 4,024

Stream Ventures Inc. Warrants BEACH, WAYNE 3 31/03/2015 55 0 -3,000,000

Stream Ventures Inc. Warrants BEACH, WAYNE 3 31/03/2015 53 0.05 3,000,000 3,000,000

Stream Ventures Inc. Warrants FSC Abel Financial Inc. 3 31/03/2015 55 0 -1,000,000

Stream Ventures Inc. Warrants FSC Abel Financial Inc. 3 31/03/2015 53 0.05 1,000,000 1,000,000

Stream Ventures Inc. Warrants Goldman, Jennifer 3 31/03/2015 55 0 -2,000,000

Stream Ventures Inc. Warrants Goldman, Jennifer 3 31/03/2015 53 0.05 2,000,000 2,000,000

Stream Ventures Inc. Warrants Mintz, Heather 3 30/03/2015 38 0.05 0 -1,000,000

Stream Ventures Inc. Warrants Mintz, Heather 3 30/03/2015 53 0.05 1,000,000 1,000,000

Stria Lithium Inc. Common Shares Davy, Julien 5 23/01/2015 10 0.1452 79,167 12,500

Stria Lithium Inc. Common Shares Weatherdon, Lindsay Thomas

4 20/03/2015 11 0.08 817,764 312,500

Stria Lithium Inc. Common Shares Weatherdon, Lindsay Thomas

4 23/03/2015 11 0.08 312,500

Stria Lithium Inc. Warrants Weatherdon, Lindsay Thomas

4 23/03/2015 11 0.1 417,764 312,500

Striker Exploration Corp. (formerly Elkwater Resources Ltd.)

Common Shares O'Connell, John 4 19/02/2015 00

Striker Exploration Corp. (formerly Elkwater Resources Ltd.)

Common Shares O'Connell, John 4 01/04/2015 10 1.7468 70,000 70,000

Stuart Olson Inc. Rights Deferred Share Units (DSUs)

Ballantyne, Richard Thomas 4 31/03/2015 56 5.77 17,541 3,466


Bellstedt, Albrecht Wilhelm Albert

4 31/03/2015 56 5.77 58,611 4,333


Danard, Chad 4 31/03/2015 56 5.77 15,357 5,936


Graham, Roderick William 4 31/03/2015 56 5.77 17,541 3,466


Hanrahan, Wendy 4 31/03/2015 56 5.77 52,408 4,224


Loberg, Carmen Richard 4 31/03/2015 56 5.77 58,515 4,116


Reid, Ian MacNevin 4 31/03/2015 56 5.77 66,560 4,874


Schneider, George Michael 4 31/03/2015 56 5.77 46,888 3,466

Student Transportation Inc. (formerly, Student Transportation of America Ltd.)

Common Shares Needler, Kenneth B. 4 31/03/2015 10 6.82 20,226 30

Sun Life Financial Inc. Deferred Share Units Accum, Claude 5 31/03/2015 30 39.7 169

Sun Life Financial Inc. Deferred Share Units Accum, Claude 5 31/03/2015 30 39.7 169

Sun Life Financial Inc. Deferred Share Units Accum, Claude 5 31/03/2015 30 39.7 18,777 169

Sun Life Financial Inc. Units Sun Shares Accum, Claude 5 31/03/2015 30 61,764 -424

Sun Life Financial Inc. Units Sun Shares Accum, Claude 5 31/03/2015 30 39.7 62,752 988

Sun Life Financial Inc. Deferred Share Units Anderson, William D. 4 31/03/2015 30 39.7 10,672 470

Sun Life Financial Inc. Deferred Share Units Blair, Carolyn Diane 5 31/03/2015 30 39.7 14,127 127

Sun Life Financial Inc. Units Sun Shares Blair, Carolyn Diane 5 31/03/2015 30 39.7 41,840 377

Sun Life Financial Inc. Deferred Share Units Booth, Richard 4 31/03/2015 30 39.7 15,227 1,016

Sun Life Financial Inc. Deferred Share Units Clappison, John 4 31/03/2015 30 39.7 40,499 1,203

Sun Life Financial Inc. Deferred Share Units Connor, Dean 4, 5 31/03/2015 30 39.7 118,078 1,061

Sun Life Financial Inc. Units Sun Shares Connor, Dean 4, 5 31/03/2015 30 326,359 -1,465

Sun Life Financial Inc. Units Sun Shares Connor, Dean 4, 5 31/03/2015 30 39.7 330,797 4,438

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3554



Acquired/ Disposed

Sun Life Financial Inc. Deferred Share Units De Paoli, Mary 5 31/03/2015 30 39.7 9,696 87

Sun Life Financial Inc. Units Sun Shares De Paoli, Mary 5 31/03/2015 38 40,036 -148

Sun Life Financial Inc. Units Sun Shares De Paoli, Mary 5 31/03/2015 30 39.7 40,548 512

Sun Life Financial Inc. Deferred Share Units Dougherty, Kevin 5 31/03/2015 30 39.7 15,572 140

Sun Life Financial Inc. Units Sun Shares Dougherty, Kevin 5 31/03/2015 38 98,455 -569

Sun Life Financial Inc. Units Sun Shares Dougherty, Kevin 5 31/03/2015 30 39.7 99,922 1,467

Sun Life Financial Inc. Units Sun Shares Fishbein, Daniel 5 31/03/2015 30 39.7 51,393 543

Sun Life Financial Inc. Deferred Share Units Freyne, Colm Joseph 5 31/03/2015 30 39.7 42,103 378

Sun Life Financial Inc. Units Sun Shares Freyne, Colm Joseph 5 31/03/2015 38 66,518 -455

Sun Life Financial Inc. Units Sun Shares Freyne, Colm Joseph 5 31/03/2015 30 39.7 67,580 1,062

Sun Life Financial Inc. Deferred Share Units Glynn, Martin John Gardner 4 31/03/2015 30 39.7 9,340 458

Sun Life Financial Inc. Deferred Share Units Harris, M. Marianne 4 31/03/2015 30 39.7 6,617 1,239

Sun Life Financial Inc. Deferred Share Units Hoeg, Krystyna 4 31/03/2015 30 39.7 40,040 734

Sun Life Financial Inc. Deferred Share Units Kennedy, Melissa Jane 5 31/03/2015 30 39.7 6,206 56

Sun Life Financial Inc. Units Sun Shares Kennedy, Melissa Jane 5 31/03/2015 30 39.7 38,885 349

Sun Life Financial Inc. Deferred Share Units Lewis, Sara 4 31/03/2015 30 39.7 1,675 1,232

Sun Life Financial Inc. Deferred Share Units Madge, Larry 5 31/03/2015 30 39.7 19,553 132

Sun Life Financial Inc. Units Sun Shares Madge, Larry 5 31/03/2015 38 37,044 -140

Sun Life Financial Inc. Units Sun Shares Madge, Larry 5 31/03/2015 30 39.7 37,572 528

Sun Life Financial Inc. Deferred Share Units Peacher, Stephen 5 31/03/2015 30 39.7 24,324 218

Sun Life Financial Inc. Units Sun Shares Peacher, Stephen 5 31/03/2015 38 111,601 -559

Sun Life Financial Inc. Units Sun Shares Peacher, Stephen 5 31/03/2015 30 39.7 113,177 1,576

Sun Life Financial Inc. Deferred Share Units Raymond, Réal 4 31/03/2015 30 39.7 6,495 823

Sun Life Financial Inc. Units Sun Shares Saunders, Mark 5 31/03/2015 38 46,624 -258

Sun Life Financial Inc. Units Sun Shares Saunders, Mark 5 31/03/2015 30 39.7 47,307 683

Sun Life Financial Inc. Deferred Share Units Segal, Hugh David 4 31/03/2015 30 39.7 13,771 498

Sun Life Financial Inc. Deferred Share Units Sims, Robert 5 31/03/2015 30 39.7 686 6

Sun Life Financial Inc. Units Sun Shares Sims, Robert 5 31/03/2015 30 39.7 54,254 487

Sun Life Financial Inc. Units Sun Shares Strain, Kevin 5 31/03/2015 38 61,141 -203

Sun Life Financial Inc. Units Sun Shares Strain, Kevin 5 31/03/2015 30 39.7 61,900 759

Sun Life Financial Inc. Deferred Share Units Stymiest, Barbara Gayle 4 31/03/2015 30 39.7 14,458 1,075

Sun Life Financial Inc. Deferred Share Units Sutcliffe, James 4 31/03/2015 30 39.7 65,966 3,120

Sun Life Financial Inc. Units Sun Shares Van den Hoogen, Marlene 5 31/03/2015 38 12,170 -74

Sun Life Financial Inc. Units Sun Shares Van den Hoogen, Marlene 5 31/03/2015 30 39.7 12,355 185

Suncor Energy Inc. Deferred Share Units Benson, Mel Edward 4 25/03/2015 30 35.91 72,706 563

Suncor Energy Inc. Deferred Share Units Benson, Mel Edward 4 30/03/2015 30 36.5 74,196 1,490

Suncor Energy Inc. Deferred Share Units Cote, Jacynthe 4 25/03/2015 30 35.91 6,006 46

Suncor Energy Inc. Deferred Share Units Cote, Jacynthe 4 30/03/2015 30 36.5 7,565 1,559

Suncor Energy Inc. Deferred Share Units D'Alessandro, Dominic 4 25/03/2015 30 35.91 51,096 395

Suncor Energy Inc. Deferred Share Units D'Alessandro, Dominic 4 30/03/2015 30 36.5 53,367 2,271

Suncor Energy Inc. Deferred Share Units FORD, WILLIAM DOUGLAS

4 25/03/2015 30 35.91 87,030 673

Suncor Energy Inc. Deferred Share Units FORD, WILLIAM DOUGLAS

4 30/03/2015 30 36.5 89,219 2,189

Suncor Energy Inc. Deferred Share Units Gass, John Donald 4 25/03/2015 30 35.91 12,769 99

Suncor Energy Inc. Deferred Share Units Gass, John Donald 4 30/03/2015 30 36.5 14,622 1,853

Suncor Energy Inc. Deferred Share Units Haseldonckx, Paul 4 25/03/2015 30 35.91 31,572 245

Suncor Energy Inc. Deferred Share Units Haseldonckx, Paul 4 30/03/2015 30 36.5 33,062 1,490

Suncor Energy Inc. Deferred Share Units Huff, John Rossman 4 25/03/2015 30 35.91 112,293 869

Suncor Energy Inc. Deferred Share Units Huff, John Rossman 4 30/03/2015 30 36.5 114,441 2,148

Suncor Energy Inc. Deferred Share Units LAMARRE, Jacques 4 25/03/2015 30 35.91 50,351 390

Suncor Energy Inc. Deferred Share Units LAMARRE, Jacques 4 30/03/2015 30 36.5 52,505 2,154

Suncor Energy Inc. Deferred Share Units McCaw, Maureen 4 25/03/2015 30 35.91 42,032 325

Suncor Energy Inc. Deferred Share Units McCaw, Maureen 4 30/03/2015 30 36.5 43,522 1,490

Suncor Energy Inc. Deferred Share Units O'Brien, Michael Wilfrid 4 25/03/2015 30 35.91 65,583 508

Suncor Energy Inc. Deferred Share Units O'Brien, Michael Wilfrid 4 30/03/2015 30 36.5 67,073 1,490

Suncor Energy Inc. Deferred Share Units SIMPSON, JAMES W. 4 25/03/2015 30 35.91 37,665 291

Suncor Energy Inc. Deferred Share Units SIMPSON, JAMES W. 4 30/03/2015 30 36.5 39,585 1,920

Suncor Energy Inc. Deferred Share Units Thomas, Eira Margaret 4 25/03/2015 30 35.91 60,236 466

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3555



Acquired/ Disposed

Suncor Energy Inc. Deferred Share Units Thomas, Eira Margaret 4 30/03/2015 30 36.5 61,726 1,490

Suncor Energy Inc. Deferred Share Units Wilson, Michael M. 4 25/03/2015 30 35.91 13,672 106

Suncor Energy Inc. Deferred Share Units Wilson, Michael M. 4 30/03/2015 30 36.5 15,867 2,195

SunOpta Inc. Common Shares Routh, Allan Glen 4, 5 31/03/2015 51 1.64 198,829 7,000

SunOpta Inc. Common Shares Routh, Allan Glen 4, 5 31/03/2015 51 4.45 220,829 22,000

SunOpta Inc. Options Routh, Allan Glen 4, 5 31/03/2015 51 1.64 210,000 -7,000

SunOpta Inc. Options Routh, Allan Glen 4, 5 31/03/2015 51 4.45 188,000 -22,000

Sunshine Oilsands Ltd. Common Shares Class A Cong, Songbo 5 31/03/2015 30 0.07 6,465,410 35,714

Sunshine Oilsands Ltd. Common Shares Class A Gerwing, Robert 5 31/03/2015 30 0.07 68,393 32,143

Sunshine Oilsands Ltd. Common Shares Class A MEN, QIPING 5 31/03/2015 30 0.07 170,223 35,714

Surge Energy Inc. Common Shares Bye, Murray 5 30/01/2015 30 2.69 120,847 505

Surge Energy Inc. Common Shares Bye, Murray 5 30/01/2015 30 2.69 11,069 505

Symbility Solutions Inc. (formerly Automated Benefits Corp.)

Options Baxter, Blair Ronald 5 02/04/2015 50 0.35 911,380 143,080

Symphony Floating Rate Senior Loan Fund

Units Class A Hoffmann, Christopher 4 30/03/2015 38 9.73 0 -210,000

Synex International Inc. Common Shares O'Sullivan, Paul J. 4 30/03/2015 10 0.48 28,000 -12,000

Synex International Inc. Common Shares Stephens, Alan William 4, 5 01/04/2015 10 0.47 236,000 -7,500

TAG Oil Ltd Common Shares TAG Oil Ltd. 1 31/03/2015 38 0 -14,800

Tahoe Resources Inc. Common Shares Brodsky, Brian 5 01/04/2015 57 14.53 201,789 7,000

Tahoe Resources Inc. Deferred Share Awards Brodsky, Brian 5 01/04/2015 57 14,000 -7,000

Tahoe Resources Inc. Common Shares Clayton, Ronald Wayne 5 01/04/2015 57 14.53 302,850 10,000

Tahoe Resources Inc. Deferred Share Awards Clayton, Ronald Wayne 5 01/04/2015 57 20,000 -10,000

Tahoe Resources Inc. Common Shares Fudge, Thomas F. Jr. 5 01/04/2015 00

Tahoe Resources Inc. Common Shares Fudge, Thomas F. Jr. 5 01/04/2015 57 5000 5,000 5,000

Tahoe Resources Inc. Deferred Share Awards Fudge, Thomas F. Jr. 5 01/04/2015 00 15,000

Tahoe Resources Inc. Deferred Share Awards Fudge, Thomas F. Jr. 5 01/04/2015 57 10,000 -5,000

Tahoe Resources Inc. Common Shares Gostin, Ira Mark 5 01/04/2015 57 14.53 106,000 2,000

Tahoe Resources Inc. Deferred Share Awards Gostin, Ira Mark 5 01/04/2015 57 4,000 -2,000

Tahoe Resources Inc. Common Shares Hofmeister, Edie 5 01/04/2015 57 14.53 132,736 7,000

Tahoe Resources Inc. Deferred Share Awards Hofmeister, Edie 5 01/04/2015 57 14,000 -7,000

Tahoe Resources Inc. Common Shares McArthur, C. Kevin 4 01/04/2015 57 14.53 3,337,225 15,000

Tahoe Resources Inc. Deferred Share Awards McArthur, C. Kevin 4 01/04/2015 57 30,000 -15,000

Tahoe Resources Inc. Common Shares McGregor, Elizabeth Dianne 5 01/04/2015 57 14.53 5,000 2,000

Tahoe Resources Inc. Deferred Share Awards McGregor, Elizabeth Dianne 5 01/04/2015 57 10,000 -2,000

Tahoe Resources Inc. Common Shares Muerhoff, Charlie 5 01/04/2015 57 14.53 85,151 5,000

Tahoe Resources Inc. Deferred Share Awards Muerhoff, Charlie 5 01/04/2015 57 10,000 -5,000

Tahoe Resources Inc. Common Shares Sadler, Mark 5 01/04/2015 57 14.53 34,000 7,000

Tahoe Resources Inc. Deferred Share Awards Sadler, Mark 5 01/04/2015 57 14,000 -7,000

Tahoe Resources Inc. Common Shares Snow, Ryan 5 01/04/2015 57 14.53 9,000 1,000

Tahoe Resources Inc. Deferred Share Awards Snow, Ryan 5 01/04/2015 57 2,000 -1,000

Talisman Energy Inc. Deferred Share Units BERGEVIN, Christiane 4 31/03/2015 56 81,905 1,145

Talisman Energy Inc. Restricted Share Units Dingeman, Bruce Owen 5 01/04/2015 59 97,189 -16,826

Talisman Energy Inc. Deferred Share Units Ebbern, Thomas William 4 31/03/2015 56 43,728 2,650

Talisman Energy Inc. Deferred Share Units Kvisle, Harold N. 4, 5 31/03/2015 56 2,035,200 144,035

Talisman Energy Inc. Deferred Share Units Kvisle, Harold N. 4, 5 01/04/2015 56 2,183,818 148,618

Talisman Energy Inc. Deferred Share Units Levitt, Brian 4 31/03/2015 56 50,300 2,289

Talisman Energy Inc. Restricted Share Units Newby, David Stanley 5 01/04/2015 59 12,425 -12,426

Talisman Energy Inc. Deferred Share Units ROONEY, ROBERT ROSS 5 01/04/2015 56 87,503 31,666

Talisman Energy Inc. Restricted Share Units Rossall, John Williamson 5 01/04/2015 59 15,296 -15,296

Talisman Energy Inc. Deferred Share Units STEWART, Lisa Anne 4 31/03/2015 56 98,385 1,289

Talisman Energy Inc. Deferred Share Units TOMSETT, PETER WILLIAM

4 31/03/2015 56 100,273 2,520

Talisman Energy Inc. Deferred Share Units Waites, Michael T. 4 31/03/2015 56 82,892 3,037

Talisman Energy Inc. Deferred Share Units Williamson, Charles Ross 4 31/03/2015 56 264,452 5,154

Talisman Energy Inc. Deferred Share Units Winograd, Charles 4 31/03/2015 56 91,046 1,214

Tarku Resources Ltd. (formerly ITUNA Capital Corporation)

Common Shares MacNeill, Tom 4 31/03/2015 10 0.075 1,039,000 55,000

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3556



Acquired/ Disposed

Tartisan Resources Corp. Common Shares Flett, Douglas Melville 4 27/03/2015 46 0.05 390,000 180,000

Teck Resources Limited Deferred Share Units Ashar, Mayank Mulraj 4 31/03/2015 56 17.38 38,003 863

Teck Resources Limited Deferred Share Units Cockwell, Jack Lynn 4 31/03/2015 56 33,701 863

Teck Resources Limited Deferred Share Units Dottori-Attanasio, Laura Lee 4 19/11/2014 00

Teck Resources Limited Deferred Share Units Dottori-Attanasio, Laura Lee 4 31/03/2015 56 17.38 708 708

Teck Resources Limited Deferred Share Units Dowling, Edward Camp 4 31/03/2015 56 17.38 14,922 863

Teck Resources Limited Deferred Share Units Kubota, Takeshi 4 31/03/2015 56 17.38 18,434 863

Teck Resources Limited Deferred Share Units Kuriyama, Takashi 4 31/03/2015 56 17.38 44,546 863

Teck Resources Limited Deferred Share Units McVicar, Tracey 4 19/11/2014 00

Teck Resources Limited Deferred Share Units McVicar, Tracey 4 31/03/2015 56 17.38 708 708

Teck Resources Limited Deferred Share Units Seyffert, Warren S. R. 4 31/03/2015 56 17.38 54,042 863

TELUS Corporation Deferred Share Units Auchinleck, Richard H. (Dick)

4 31/03/2015 30 126,055 1,183

TELUS Corporation Deferred Share Units Auchinleck, Richard H. (Dick)

4 31/03/2015 30 42.2 126,742 687

TELUS Corporation Deferred Share Units Baillie, A. Charles 4 31/03/2015 30 121,174 1,139

TELUS Corporation Deferred Share Units Baillie, A. Charles 4 31/03/2015 30 42.2 121,719 545

TELUS Corporation Common Shares Blair, Joshua Andrew 5 31/03/2015 30 42.04 10,901 10,901

TELUS Corporation Common Shares Blair, Joshua Andrew 5 31/12/2014 30 53,285 581

TELUS Corporation Restricted Share Units Blair, Joshua Andrew 5 31/03/2015 30 44.35 172,236 -57,211

TELUS Corporation Restricted Share Units Blair, Joshua Andrew 5 31/03/2015 30 44.35 170,335 -1,901

TELUS Corporation Deferred Share Units de Wilde, Lisa 4 31/03/2015 30 42.2 1,045 272

TELUS Corporation Common Shares Fuller, David 5 31/03/2015 30 526


TELUS Corporation Common Shares Fuller, David 5 31/03/2015 30 13,350

TELUS Corporation Common Shares Fuller, David 5 31/03/2015 30 13,350





TELUS Corporation Common Shares Fuller, David 5 31/03/2015 30 13,118 117

TELUS Corporation Common Shares Fuller, David 5 31/03/2015 30 13,704 586

TELUS Corporation Common Shares Fuller, David 5 31/03/2015 30 42.04 17,782 4,078

TELUS Corporation Restricted Share Units Fuller, David 5 31/03/2015 30 526

TELUS Corporation Restricted Share Units Fuller, David 5 31/03/2015 30 526

TELUS Corporation Restricted Share Units Fuller, David 5 31/03/2015 30 100,434 526

TELUS Corporation Restricted Share Units Fuller, David 5 31/03/2015 30 44.35 13,350

TELUS Corporation Restricted Share Units Fuller, David 5 31/03/2015 30 44.35 -13,350

TELUS Corporation Restricted Share Units Fuller, David 5 31/03/2015 30 44.35 87,084 -13,350

TELUS Corporation Restricted Share Units Fuller, David 5 31/03/2015 30 44.35 -984

TELUS Corporation Restricted Share Units Fuller, David 5 31/03/2015 30 44.35 86,100 -984

TELUS Corporation Deferred Share Units Haddad, Mary Jo 4 31/03/2015 30 4,087 36

TELUS Corporation Deferred Share Units Haddad, Mary Jo 4 31/03/2015 30 42.2 4,632 545

TELUS Corporation Deferred Share Units Lacey, John Stewart 4 31/03/2015 30 97,029 913

TELUS Corporation Deferred Share Units Lacey, John Stewart 4 31/03/2015 30 42.2 97,301 272

TELUS Corporation Deferred Share Units Manley, John Paul 4 31/03/2015 30 15,402 141

TELUS Corporation Deferred Share Units Manley, John Paul 4 31/03/2015 30 42.2 15,947 545

TELUS Corporation Common Shares Mercier, Monique 5 31/03/2015 30 9,883 486

TELUS Corporation Common Shares Mercier, Monique 5 31/03/2015 30 42.04 12,185 2,302

TELUS Corporation Restricted Share Units Mercier, Monique 5 31/03/2015 30 44.35 75,381 -8,053

TELUS Corporation Common Shares Natale, Joe 5 31/03/2015 30 17,510 986

TELUS Corporation Common Shares Natale, Joe 5 31/03/2015 30 42.04 41,242 23,732

TELUS Corporation Restricted Share Units Natale, Joe 5 31/03/2015 30 44.35 404,950 -85,816

TELUS Corporation Restricted Share Units Natale, Joe 5 31/03/2015 30 44.35 401,620 -3,330

TELUS Corporation Common Shares Sayles, William Michael 5 31/03/2015 30 19,156 646

TELUS Corporation Common Shares Sayles, William Michael 5 31/03/2015 30 42.04 22,551 3,395

TELUS Corporation Common Shares Sayles, William Michael 5 31/03/2015 30 22,659 108

TELUS Corporation Restricted Share Units Sayles, William Michael 5 31/03/2015 30 44.35 74,281 -11,442

TELUS Corporation Restricted Share Units Sayles, William Michael 5 31/03/2015 30 44.35 73,849 -432

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3557



Acquired/ Disposed

TELUS Corporation Restricted Share Units Spadotto, Eros 7 31/03/2015 10 44.35 169,317 -64,835

TELUS Corporation Restricted Share Units Spadotto, Eros 7 31/03/2015 10 44.35 167,293 -2,024

Temple Hotels Inc. Deferred Shares Hill Blaisdell, Rosanne Michelle

4 31/03/2015 56 12,992 2,670

Temple Hotels Inc. Deferred Shares McLean, Brent John 4 31/03/2015 56 9,241 1,620

Temple Hotels Inc. Deferred Shares Nunn, David John 4 31/03/2015 56 22,712 5,161

Temple Hotels Inc. Convertible Debentures 8.0% Series C Convertible Redeemable Unsecured Subordinated

Temple Hotels Inc. 1 31/03/2015 38 $0 -$4,323

Temple Hotels Inc. Deferred Shares Wells, Douglas Norman 4 31/03/2015 56 8,756 2,551

Tesla Exploration Ltd. (formerly Norex Exploration Services Inc.)

Options Aguilar, Fernando 4 02/04/2015 52 29,667 -3,333


Options Buttle, David Kerry 7 02/04/2015 52 49,500 -5,000


Options Cooper, David Christopher 7 02/04/2015 52 89,468 -6,666


Options Elgie, David Vincent 4 02/04/2015 52 47,067 -3,333


Options Freel, Douglas Colin 4 02/04/2015 52 47,067 -3,333


Options Freel, Douglas Colin 4 02/04/2015 52 43,317 -3,750


Options Gartner, Lorne 4 02/04/2015 52 53,067 -4,333


Options Habiak, Richard, Roman 4, 6, 5 02/04/2015 52 163,100 -12,750


Options Mathison, Ronald 3, 4 02/04/2015 52 70,000 -5,250


Options McArthur, Peter, Daniel 6, 5 02/04/2015 52 96,800 -7,500


Options McGoey, David Merrill 4 02/04/2015 52 53,067 -4,333


Options Schempf, Claude D. Jr. 7 02/04/2015 52 64,234 -4,666


Options Tetzlaff, Milton B. 5 02/04/2015 52 57,900 -3,000

The Canadian Bioceutical Corporation

Common Shares Bloovol, Marilyn 4, 5 30/03/2015 10 0.28 2,236,059 -1,000

The Canadian Bioceutical Corporation

Common Shares Bloovol, Marilyn 4, 5 31/03/2015 10 0.28 2,234,559 -1,500

The North West Company Inc.

Common Shares Beaulieu, Michael 5 14/01/2013 00


Common Shares Beaulieu, Michael 5 31/03/2015 10 26.56 1,696 1,696


Common Shares Chatyrbok, David Michael 4 31/03/2015 10 26.56 22,889 975






Common Shares Gillis, Debbie 5 31/03/2015 10 26.56 61 35


Common Shares Gillis, Debbie 5 01/05/2013 00

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3558



Acquired/ Disposed


Common Shares Gillis, Debbie 5 31/03/2015 10 26.56 137 137


Common Shares Gilpin, Craig 5 31/03/2015 10 26.56 7,326 1,428


Common Shares Hiebert, Paulina 5 31/03/2015 10 26.56 1,088 189


Common Shares Kennedy, Edward Stephen 5 31/03/2015 10 26.56 131,339 99


Common Shares King, John 5 31/03/2015 10 26.56 32,258 2,341


Common Shares King, John 5 31/03/2015 10 26.56 15,887 732






Common Shares McConnell, Daniel, George 5 31/03/2015 10 26.56 12,330 3,052


Common Shares McConnell, Daniel, George 5 31/03/2015 10 26.56 1,035 51


Common Shares Reimer, Christine 5 31/03/2015 10 26.56 9,326 1,239


Common Shares Reimer, Christine 5 31/03/2015 10 26.56 2,554 122

The Toronto-Dominion Bank Common Shares CUSIP 891160 50 9

Ferguson, Brian Charles 4 26/03/2015 00 1,000

The Toronto-Dominion Bank Rights Deferred Share Units (DSU)

Ferguson, Brian Charles 4 26/03/2015 00


Ferguson, Brian Charles 4 31/03/2015 56 53.64 1,367 1,367

The Toronto-Dominion Bank Common Shares CUSIP 891160 50 9

Mongeau, Claude 4 26/03/2015 00 36,547


Mongeau, Claude 4 26/03/2015 00


Mongeau, Claude 4 31/03/2015 56 53.64 1,367 1,367

Thermal Energy International Inc.

Common Shares Class A Thermal Energy International Inc.

1 31/03/2015 38 0 -130,000

Thomson Reuters Corporation

Common Shares Collier, Timothy 7 17/03/2014 30 34.22 49,221 19
















Common Shares Craig, David William Ian 7, 5 17/03/2014 30 34.22 3,578 5











Insider Reporting

April 9, 2015

(2015), 38 OSCB 3559



Acquired/ Disposed






Common Shares Peccarelli, Brian S. 7, 5 31/12/2014 30 36.82 30,594 1


Common Shares The Woodbridge Company Limited

3 26/03/2015 47 50.22 454,855,892 -199,295


Common Shares The Woodbridge Company Limited

3 27/03/2015 47 50.38 454,638,881 -217,011

Till Capital Ltd. Restricted Voting Shares Till Capital Ltd. 1 03/03/2015 38 7 59,600 100

Till Capital Ltd. Restricted Voting Shares Till Capital Ltd. 1 04/03/2015 38 7 59,700 100

Till Capital Ltd. Restricted Voting Shares Till Capital Ltd. 1 05/03/2015 38 6.94 68,700 9,000

Till Capital Ltd. Restricted Voting Shares Till Capital Ltd. 1 10/03/2015 38 6.95 69,100 400





Till Capital Ltd. Restricted Voting Shares Till Capital Ltd. 1 27/03/2015 38 7.8 71,700 1,500



Timbercreek Mortgage Investment Corporation

Common Shares Altman, Zelick 4 15/01/2014 30 9.2 5,357 38











































Insider Reporting

April 9, 2015

(2015), 38 OSCB 3560



Acquired/ Disposed










Common Shares Watchorn, Derek John 4 20/06/2014 30 9.44 22,053 153



































Timbercreek Senior Mortgage Investment Corporation

Common Shares Scott, Steven Robert 4 19/09/2014 30 9.0409 2,111 11














Common Shares Shyba, William Glenn 4 31/03/2015 10 8.36 2,733 233

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3561



Acquired/ Disposed






Common Shares Shyba, William Glenn 4 31/03/2015 10 8.37 5,500 1,831

Tirex Resources Ltd. Common Shares European Bank for Reconstruction and Development

3 30/12/2010 00

Tirex Resources Ltd. Common Shares European Bank for Reconstruction and Development

3 01/04/2015 97 4,000,000 4,000,000

Tirex Resources Ltd. Convertible Debentures European Bank for Reconstruction and Development

3 01/04/2015 97 $9,271,342 -$688,658

TitanStar Properties Inc. (formerly DPVC Inc.)

Common Shares Turner, Thomas Richard 4, 5 30/03/2015 10 0.0594 5,185,071 162,500

TitanStar Properties Inc. (formerly DPVC Inc.)

Common Shares Turner, Thomas Richard 4, 5 30/03/2015 10 0.06 5,222,571 37,500

TMX Group Limited Rights Deferred Share Units

Irman, Martine 4 25/03/2015 38 0 -689

Toromont Industries Ltd. Rights Deferred Share Units (cash settled)

Casson, Randall 7, 2 01/04/2015 56 32.36 18,569 97


Chisholm, Jeffrey Scott 4 31/03/2015 56 32.26 10,018 526


Chisholm, Jeffrey Scott 4 01/04/2015 56 32.36 10,068 50


Cochrane, Jennifer 5 01/04/2015 56 32.36 5,212 27


Cranston, Cathryn Elizabeth 4 31/03/2015 56 32.26 7,523 526


Cranston, Cathryn Elizabeth 4 01/04/2015 56 32.36 7,560 37


Cuddy, Mike 7 01/04/2015 56 32.36 10,642 56


Franklin, Robert 4 31/03/2015 56 32.26 30,561 366


Franklin, Robert 4 01/04/2015 56 32.36 30,720 159


GALLOWAY, DAVID ALEXANDER

4 31/03/2015 56 32.26 51,003 756


GALLOWAY, DAVID ALEXANDER

4 01/04/2015 56 32.36 51,267 264


Hill, Wayne S. 4, 5 01/04/2015 56 32.36 5,852 31


Jewer, Paul Randolph 5 01/04/2015 56 32.36 33,961 177


Malinauskas, David Allan 5 01/04/2015 56 32.36 681 4


McCallum, John S. 4 01/04/2015 56 32.36 5,852 31


Medhurst, Scott 4, 5 01/04/2015 56 32.36 14,146 74


Ogilvie, Robert M. 4, 5 01/04/2015 56 32.36 36,113 189


Rethy, Katherine Anne 4 31/03/2015 56 32.26 5,911 526


Rethy, Katherine Anne 4 01/04/2015 56 32.36 5,940 29


Wetherald, David 5 01/04/2015 56 32.36 13,050 68

Torstar Corporation Rights Restricted Share Units

Barber, Jennifer 5 31/03/2015 56 23,043 163

Torstar Corporation Rights Deferred Share Units

Berger, Elaine Margaret Ellen

4 31/03/2015 56 38,523 2,085

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3562



Acquired/ Disposed


Beyette, Marie Elizabeth 5 31/03/2015 56 33,416 195


Bishop, Peter George 7 31/03/2015 56 31,933 192


Cruickshank, John Douglas 5 31/03/2015 56 16,334 326


Cruickshank, John Douglas 5 31/03/2015 56 74,256 433


Dea, Joan 4 31/03/2015 56 41,618 2,147


DeMarchi, Lorenzo John David

5 31/03/2015 56 79,207 462


Goodridge, Christopher Michael

5 31/03/2015 56 22,002 128


Harvey, Campbell Russell 3, 4 31/03/2015 56 46,648 2,247


Holland, David Patrick 4, 5 31/03/2015 56 49,406 986


Holland, David Patrick 4, 5 31/03/2015 56 231,022 1,350


Honderich, John Allen 3, 4 31/03/2015 56 43,572 2,186


Hughes, Linda 4 31/03/2015 56 31,435 1,943


Jauernig, Daniel 4 31/03/2015 56 73,502 4,077


McLeod, Ian Alexander 7 02/01/2015 59 -10,791


McLeod, Ian Alexander 7 02/01/2015 59 21,326 -1,655


McLeod, Ian Alexander 7 31/03/2015 56 21,451 125


Oliver, Ian Alan 7 31/03/2015 56 16,045 320


Oliver, Ian Alan 7 31/03/2015 56 320


Oliver, Ian Alan 7 31/03/2015 56 320


Oliver, Ian Alan 7 31/03/2015 56 100,098 433


Samji, Alnasir Hussein Habib

4 31/03/2015 56 54,961 2,413


Smith, David Todd 5 31/03/2015 56 33,416 195


Strachan, Dorothy Ann Regina

4 31/03/2015 56 17,418 2,424


Thall, Martin 4 31/03/2015 56 46,648 2,247


Weiss, Paul Raymond 4 31/03/2015 56 42,272 2,159


Yaffe, Phyllis 4 31/03/2015 56 48,973 3,032

Total Energy Services Inc. Common Shares Fletcher, Gregory Scott 4 30/03/2015 10 14.04 152,500 1,000

Total Energy Services Inc. Common Shares Fletcher, Gregory Scott 4 01/04/2015 10 14.13 153,500 1,000

Total Energy Services Inc. Common Shares Pachkowski, Bruce Lawrence

4 02/04/2015 10 13.73 171,300 2,000

Total Energy Services Inc. Common Shares Total Energy Services Inc 1 31/03/2015 38 0 -5,000

Touchstone Exploration Inc. Common Shares Baay, Paul Raymond 4, 5 26/03/2015 30 0.271 910,499 5,362

Touchstone Exploration Inc. Common Shares Budau, Christopher Scott 5 26/03/2015 30 0.271 82,624 3,958

Touchstone Exploration Inc. Common Shares McKINNON, KENNETH RICHARD

4 26/03/2015 30 0.271 153,400 3,075

Touchstone Exploration Inc. Common Shares Mitzel, Trevor 4 26/03/2015 30 0.271 61,761 3,075

Touchstone Exploration Inc. Common Shares Ruttan, Corey Christopher 4, 5 26/03/2015 30 0.271 218,188 3,075

Touchstone Exploration Inc. Common Shares Shipka, James 5 26/03/2015 30 0.271 95,003 3,805

Touchstone Exploration Inc. Common Shares Smith, Richard Gregg 4 26/03/2015 30 0.271 206,062 3,075

Tourmaline Oil Corp. Common Shares Robinson, Brian 5 31/03/2015 10 38.114 623,543 -50,000

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3563



Acquired/ Disposed

TransAlta Corporation PSOP (Performance Share Ownership Plan)

Chakravarti, Nipa 5 31/12/2014 30 0 -11,500

TransAlta Corporation PSU (Performance Share Units)

Chakravarti, Nipa 5 31/12/2014 35 12.7 17,068 883


Chakravarti, Nipa 5 01/01/2015 30 10.52 27,714 10,646

TransAlta Corporation RSU (Restricted Share Units)

Chakravarti, Nipa 5 31/12/2014 35 12.7 8,523 441


Chakravarti, Nipa 5 01/01/2015 30 10.52 13,846 5,323

TransAlta Corporation DSU (Deferred Share Units)

Cooney, Roman Russell 5 20/10/2014 00


Cooney, Roman Russell 5 31/03/2015 30 11.68 289 289

TransAlta Corporation Common Shares de Lima, Dawn Elizabeth 5 31/12/2014 35 12.39 6,511 416

TransAlta Corporation Common Shares de Lima, Dawn Elizabeth 5 20/02/2015 30 10.52 13,518 7,007


de Lima, Dawn Elizabeth 5 01/11/2007 00


de Lima, Dawn Elizabeth 5 31/03/2015 30 11.68 4,090 4,090


de Lima, Dawn Elizabeth 5 31/12/2014 30 0 -28,600










de Lima, Dawn Elizabeth 5 20/02/2015 30 10.52 42,034 -11,488


Farrell, Dawn Lorraine 4, 5 31/03/2015 30 11.68 128,579 94,614

TransAlta Corporation Common Shares Kousinioris, John Harry 5 20/02/2015 30 10.52 11,096 11,096


Kousinioris, John Harry 5 31/12/2014 35 12.7 60,303 3,121








Kousinioris, John Harry 5 20/02/2015 30 10.52 66,550 -18,190

TransAlta Corporation Common Shares Lopez, Christopher Felix 5 31/12/2014 35 12.39 1,730 102


Lopez, Christopher Felix 5 31/12/2014 30 0 -11,500


Lopez, Christopher Felix 5 31/12/2014 35 12.7 17,774 920


Lopez, Christopher Felix 5 01/01/2015 30 10.52 28,864 11,090






Lopez, Christopher Felix 5 01/01/2015 35 10.69 29,156 244


Lopez, Christopher Felix 5 11/03/2015 30 11.31 14,438 -14,718


MARSHALL, BRENDA DALE

5 31/12/2014 30 0 -5,400



5 31/12/2014 35 12.7 15,287 791



5 01/01/2015 30 10.52 24,824 9,537

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3564



Acquired/ Disposed



5 31/12/2014 35 12.74 13,162 738



5 01/01/2015 30 10.552 17,931 4,769



5 01/01/2015 35 10.69 18,024 93



5 11/03/2015 30 11.31 12,413 -5,611


Nelson, Georgia Ricci 4 29/04/2014 00


Nelson, Georgia Ricci 4 31/12/2014 30 11.42 4,878 4,878


Nelson, Georgia Ricci 4 31/12/2014 35 11.77 4,896 18

TransAlta Corporation Common Shares Pierce, Jennifer 5 31/12/2014 35 12.39 8,057 262


Pierce, Jennifer 5 31/12/2014 30 0 -11,900


Pierce, Jennifer 5 31/12/2014 35 12.7 18,479 956


Pierce, Jennifer 5 01/01/2015 30 10.52 30,013 11,534


Pierce, Jennifer 5 31/12/2014 35 12.74 24,316 1,412


Pierce, Jennifer 5 01/01/2015 30 10.52 30,083 5,767


Pierce, Jennifer 5 01/01/2015 35 10.69 30,337 254


Pierce, Jennifer 5 11/03/2015 30 11.31 15,006 -15,331

TransAlta Corporation Common Shares Schaefer, Robert Ian 5 31/12/2012 35 16.52 44

TransAlta Corporation Common Shares Schaefer, Robert Ian 5 31/12/2012 35 16.52 10,087 384

TransAlta Corporation Common Shares Schaefer, Robert Ian 5 31/12/2013 35 13.79 38




Schaefer, Robert Ian 5 31/12/2014 35 12.45 2,775 79


Schaefer, Robert Ian 5 31/03/2015 30 11.68 12,480 9,705


Schaefer, Robert Ian 5 31/12/2014 30 0 -31,400










Stack, Todd John 5 29/10/2010 00


Stack, Todd John 5 31/03/2015 30 11.68 2,571 2,571

TransAlta Corporation Common Shares Wharton, Donald Charles 5 31/12/2014 35 12.39 14,120 898


Wharton, Donald Charles 5 31/12/2014 30 0 -10,800


Wharton, Donald Charles 5 31/12/2014 35 12.7 17,068 883


Wharton, Donald Charles 5 01/01/2015 30 10.52 27,714 10,646






Wharton, Donald Charles 5 01/01/2015 35 10.69 27,644 228

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3565



Acquired/ Disposed


Wharton, Donald Charles 5 11/03/2015 30 11.31 13,846 -13,798

TransCanada Corporation Executive Share Units Baggs, James M. 5 14/03/2013 59 -8,528

TransCanada Corporation Executive Share Units Baggs, James M. 5 14/03/2013 59 18,859 -8,528

TransCanada Corporation Executive Share Units Breen, Chris P. 7 01/06/2014 00

TransCanada Corporation Executive Share Units Breen, Chris P. 7 01/06/2014 00 6,170

TransCanada Corporation Executive Share Units Breen, Chris P. 7 31/12/2014 30 6,323 153

TransCanada Corporation Executive Share Units Brett, Sean M. 7 31/12/2012 30 399

TransCanada Corporation Executive Share Units Brett, Sean M. 7 31/12/2012 30 11,214 399

TransCanada Corporation Common Shares Harvey, Doug P. 7 01/03/2013 00 1,638

TransCanada Corporation Common Shares Harvey, Doug P. 7 31/12/2013 30 47.95 1,682 44

TransCanada Corporation Common Shares Harvey, Doug P. 7 31/12/2014 30 52.22 1,740 58

TransCanada Corporation Common Shares Kunz, Kenneth W. 7 01/05/2007 00 230

TransCanada Corporation Common Shares Kunz, Kenneth W. 7 31/12/2008 30 35.85 237 7







TransCanada Corporation Executive Share Units Kunz, Kenneth W. 7 31/12/2014 30 10,721 343

TransCanada Corporation Executive Share Units Kunz, Kenneth W. 7 01/01/2015 30 343

TransCanada Corporation Executive Share Units Moneta, David B. 7 31/12/2011 56 4,173

TransCanada Corporation Executive Share Units Moneta, David B. 7 31/12/2011 56 13,997 4,173

TransCanada Corporation Executive Share Units Poirier, Francois Lionel 7 14/04/2014 00

TransCanada Corporation Executive Share Units Poirier, Francois Lionel 7 14/04/2014 00 18,707

TransCanada Corporation Executive Share Units Poirier, Francois Lionel 7 31/12/2014 30 19,200 493

TransCanada Corporation Executive Share Units Schmidgall, Randall W. 7 01/03/2014 56 2,097

TransCanada Corporation Executive Share Units Schmidgall, Randall W. 7 01/03/2014 56 7,555 1,812

TransCanada Corporation Executive Share Units Schmidgall, Randall W. 7 31/12/2014 30 6,171 157

TransCanada Corporation Common Shares Southam, Michael 5 26/11/2012 00

TransCanada Corporation Common Shares Southam, Michael 5 30/03/2015 51 47.09 5,827 5,827

TransCanada Corporation Common Shares Southam, Michael 5 30/03/2015 10 54.85 2,700 -3,127

TransCanada Corporation Common Shares Southam, Michael 5 30/03/2015 10 54.86 2,600 -100

TransCanada Corporation Common Shares Southam, Michael 5 30/03/2015 10 54.84 1,400 -1,200

TransCanada Corporation Common Shares Southam, Michael 5 30/03/2015 10 54.83 600 -800


TransCanada Corporation Common Shares Southam, Michael 5 26/03/2015 30 55.17 1,084 43

TransCanada Corporation Common Shares Southam, Michael 5 26/03/2015 30 57.68 1,093 9


TransCanada Corporation Options Granted February 15, 2013 @ $47.09 CDN

Southam, Michael 5 30/03/2015 51 -5,827


Southam, Michael 5 30/03/2015 51 -5,827


Southam, Michael 5 30/03/2015 51 2,913 -5,827

TransCanada Corporation Common Shares Tatarchuk, Eric W. 7 01/05/2012 00

TransCanada Corporation Common Shares Tatarchuk, Eric W. 7 30/03/2015 51 49.03 1,500 1,500

TransCanada Corporation Common Shares Tatarchuk, Eric W. 7 30/03/2015 10 55.18 0 -1,500

TransCanada Corporation Options Granted Feb. 25, 2014 @ $49.03 CDN Expiry Feb. 25, 2021

Tatarchuk, Eric W. 7 30/03/2015 51 12,309 -1,500

TransCanada Corporation Executive Share Units White, Jay J. 7 31/12/2014 30 5,420 75

TransCanada Corporation Executive Share Units Wilson, Stephanie 7 31/12/2014 30 7,802 185

TransForce Inc. Deferred Share Units Bérard, André 4 31/03/2015 56 67,454 1,132

TransForce Inc. Deferred Share Units Bouchard, Lucien 4 31/03/2015 56 41,465 714

TransForce Inc. Deferred Share Units Guay, Richard 4, 5 31/03/2015 56 32,138 423

TransForce Inc. Deferred Share Units LO, ANNIE HAIYUAN 4 31/03/2015 56 3,428 672

TransForce Inc. Deferred Share Units Manning, Neil Donald 4 31/03/2015 56 7,692 760

TransForce Inc. Deferred Share Units MUSACCHIO, VINCENT 4 31/03/2015 56 5,405 308

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3566



Acquired/ Disposed

TransForce Inc. Deferred Share Units ROGERS, Ronald D. 4 31/03/2015 56 24,146 760

TransForce Inc. Deferred Share Units Saputo, Joey 4 31/03/2015 56 30.26 26,040 357

TransGlobe Energy Corporation

DSU Chase, Geoffrey Charles 4 31/03/2015 56 13,142 187


PSU Clarkson, Ross Gordon 4, 5 31/03/2015 56 80,347 1,145


DSU Cook, David Bruce 4 31/03/2015 56 29,979 427


DSU Dyment, Fred J. 4 31/03/2015 56 20,919 298


PSU Gress, Albert 5 31/03/2015 56 31,375 447


PSU Herrick, Lloyd William 4, 5 31/03/2015 56 63,810 909


DSU Jennings, Robert 4 31/03/2015 56 28,427 405


DSU Mac Dougall, G.R. (Bob) 4 31/03/2015 56 29,979 427


DSU MacKenzie, Susan Mary 4 31/03/2015 56 29,148 415


PSU Neely, Randy 5 31/03/2015 56 42,611 607


PSU Norris, Brett 5 31/03/2015 56 28,620 408

Transition Metals Corp. Common Shares Pearson, William 4 29/08/2014 30 0.33 3,600




Transition Metals Corp. Warrants Pearson, William 4 29/08/2014 30 0.2 1,020




Transition Therapeutics Inc. Options Abushakra, Sawsan 7 31/03/2015 50 8.73 135,000 45,000

Transition Therapeutics Inc. Options Connop, Bruce 5 31/03/2015 50 8.73 169,444 30,000

Transition Therapeutics Inc. Options CRUZ, TONY 4, 5 31/03/2015 50 8.73 750,000 70,000

Transition Therapeutics Inc. Options Damiani, Carl 5 31/03/2015 50 8.73 350,000 50,000

Transition Therapeutics Inc. Options Pastrak, Aleksandra 5 31/03/2015 50 8.73 350,000 35,000

Transition Therapeutics Inc. Options Rusaw, Norla Nicole 5 31/03/2015 50 8.73 207,193 40,000

Treasury Metals Inc. Common Shares Ferron, Greg 5 27/03/2015 10 0.3 199,100 5,000

Treasury Metals Inc. Common Shares YERLY, Blaise F. 4 31/03/2015 10 0.31 2,874,056 1,500

Treasury Metals Inc. Common Shares YERLY, Blaise F. 4 31/03/2015 10 0.325 2,878,056 4,000

Tree Island Steel Ltd. Common Shares Miller, James Michael 5 27/03/2015 10 1.75 12,950 5,200

Tree Island Steel Ltd. Common Shares Miller, James Michael 5 30/03/2015 10 1.75 13,750 800

Trez Capital Mortgage Investment Corporation

Class A Shares Samuel, Gary 4 27/03/2015 10 7.162 10,000 7,000


Class A Shares Samuel, Gary 4 07/08/2014 00




Class A Shares Samuel, Gary 4 27/03/2015 10 7.3 3,000 700


Class A Shares Samuel, Gary 4 07/08/2014 00




Class A Shares Trez Capital Mortgage Investment Corporation

1 04/03/2015 38 7 1,800 1,800



1 09/03/2015 38 0 -1,800



1 09/03/2015 38 6.955 5,500 5,500



1 12/03/2015 38 0 -5,500

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3567



Acquired/ Disposed



1 12/03/2015 38 6.907 3,800 3,800



1 16/03/2015 38 6.786 5,000 1,200



1 17/03/2015 38 6.656 11,800 6,800



1 18/03/2015 38 6.61 18,600 6,800



1 19/03/2015 38 6.608 23,100 4,500



1 20/03/2015 38 11,300 -11,800



1 23/03/2015 38 4,500 -6,800



1 24/03/2015 38 0 -4,500

Trican Well Service Ltd. Performance Unit Awards (PSUs)

Albers, Blair John 5 31/12/2014 30 9,987 87


Albers, Blair John 5 14/01/2015 30 10,262 275


Baldwin, Michael Andrew 5 31/12/2014 30 33,226 160


Baldwin, Michael Andrew 5 14/01/2015 30 33,731 505


Browne, David James 5 31/12/2014 30 16,375 76


Browne, David James 5 14/01/2015 30 16,614 239


Buzinsky, Andrew Antoine 5 31/12/2014 30 9,281 81



Trican Well Service Ltd. Rights Restricted Share Units (RSUs)

Buzinsky, Andrew Antoine 5 05/11/2013 00


Buzinsky, Andrew Antoine 5 05/11/2013 00 4,691






Cox, Robert, John 5 31/12/2014 30 26,087 121


Cox, Robert, John 5 14/01/2015 30 26,470 383


Cox, Robert, John 5 31/12/2014 30 6,271 53


Cox, Robert, John 5 14/01/2015 30 6,440 169


Croft, Bonita Maria 5 31/12/2014 30 27,763 132


Croft, Bonita Maria 5 14/01/2015 30 28,179 416


Dusterhoft, Dale M. 5 31/12/2014 30 82,602 403


Dusterhoft, Dale M. 5 14/01/2015 30 83,874 1,272






Girard, David Joseph 5 31/12/2014 30 14,510 77


Girard, David Joseph 5 14/01/2015 30 14,754 244


Greenwood, James Garth 5 01/01/2015 00

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3568



Acquired/ Disposed


Greenwood, James Garth 5 01/01/2015 00 2,511


Greenwood, James Garth 5 14/01/2015 30 2,579 68


Jones, David R. 5 31/12/2014 30 24,886 120


Jones, David R. 5 14/01/2015 30 25,264 378


Luft, Donald R. 4, 5 31/12/2014 30 72,636 336


Luft, Donald R. 4, 5 14/01/2015 30 73,697 1,061


McKee, James Simon 5 31/12/2014 30 18,360 160


McKee, James Simon 5 14/01/2015 30 18,865 505

Trican Well Service Ltd. Rights Deferred Share Units (DSUs)

Pourbaix, Alex 4 31/03/2015 56 41,164 4,144

Trican Well Service Ltd. Rights Deferred Share Units (DSUs)

Taylor, Dean Edward 4 31/03/2015 56 29,074 2,072


Venditto, James 5 31/12/2014 30 21,165 99


Venditto, James 5 14/01/2015 30 21,479 314


Wichuk, Randal Bernard 2 13/07/2012 30 5,011 10










Wichuk, Randal Bernard 2 03/10/2014 56 15




Wichuk, Randal Bernard 2 03/10/2014 59 14.66 -793


Wichuk, Randal Bernard 2 03/10/2014 59 14.66 12,364 -794



Tricon Capital Group Inc. Common Shares Alikhan, June 5 31/12/2014 30 7.3556 20,645 509

Tricon Capital Group Inc. Common Shares Alikhan, June 5 31/12/2014 30 7.3282 15,405 510

Tricon Capital Group Inc. Deferred Share Units Alikhan, June 5 31/12/2014 35 7.567 18,610 217

Tricon Capital Group Inc. Deferred Share Units Berman, David 3, 4, 6, 5 31/12/2014 35 7.567 112,648 1,610

Tricon Capital Group Inc. Deferred Share Units Berman, Gary 4, 5 31/12/2014 35 7.567 111,321 1,523

Tricon Capital Group Inc. Deferred Share Units Ellenzweig, Jonathan 5 31/12/2014 35 7.567 45,758 615

Tricon Capital Group Inc. Deferred Share Units Giles, David 5 31/12/2014 35 7.567 27,983 350

Tricon Capital Group Inc. Deferred Share Units KNOWLTON, JOHN MICHAEL ARTHUR

4 31/12/2014 35 7.6068 7,010 19

Tricon Capital Group Inc. Deferred Share Units KNOWLTON, JOHN MICHAEL ARTHUR

4 31/12/2014 35 7.567 7,059 49

Tricon Capital Group Inc. Deferred Share Units MATUS, GEOFFREY 3, 4, 6, 5 31/12/2014 35 7.567 56,261 805

Tricon Capital Group Inc. Deferred Share Units Mode, Craig 5 31/12/2014 35 7.567 32,146 399

Tricon Capital Group Inc. Deferred Share Units Rocca, Adrian 5 31/12/2014 35 7.567 19,682 61

Tricon Capital Group Inc. Deferred Share Units Sacks, Peter 4 31/12/2014 35 7.62 1,171 3

Tricon Capital Group Inc. Deferred Share Units Scheetz, Jeremy 5 31/12/2014 35 7.567 36,271 509

Tricon Capital Group Inc. Deferred Share Units Scott, Eric Duff 4 09/05/2014 46 7.76 805

Tricon Capital Group Inc. Deferred Share Units Scott, Eric Duff 4 09/05/2014 46 7.76 7,445 2,255




Insider Reporting

April 9, 2015

(2015), 38 OSCB 3569



Acquired/ Disposed


Tricon Capital Group Inc. Deferred Share Units Scott, Eric Duff 4 31/12/2014 35 7.6065 11,576 53

Tricon Capital Group Inc. Deferred Share Units Scott, Eric Duff 4 31/12/2014 35 7.567 11,629 53



Tricon Capital Group Inc. Deferred Share Units Tammer, Aida Evelyn 4 31/12/2014 35 7.567 7,040 49

Tricon Capital Group Inc. Deferred Share Units Tammer, Aida Evelyn 4 31/12/2014 35 7.6068 7,059 19

Trimac Transportation Ltd. Common Shares Class A Cybulskie, Jan 7 01/04/2015 00

Trimac Transportation Ltd. Rights Performance Share Units

Cybulskie, Jan 7 01/04/2015 00

Trinidad Drilling Ltd. Rights Performance Share Units

Bolster, Lesley Marie 5 30/03/2015 56 344,735 192,957


Bolster, Lesley Marie 5 31/03/2015 35 348,813 4,078

Trinidad Drilling Ltd. Rights Deferred Share Units

Brown, Robert James 4 31/03/2015 35 51,661 604


Burden, Brian 4 31/03/2015 35 26,407 308


Conway, Brent John 5 30/03/2015 56 581,968 340,077


Conway, Brent John 5 31/03/2015 35 588,853 6,885


Foreman, Rodney Ruel 5 31/03/2015 58 - Expiration of rights

0 -28,915


Halford, David William 4 31/03/2015 35 26,407 308


Heier, Michael Erskine 4 31/03/2015 35 104,650 1,223


Lachance, Adrian Victor 5 30/03/2015 56 390,486 210,145


Lachance, Adrian Victor 5 31/03/2015 35 395,105 4,619


Lane, Gavin Bryan Forbister 5 31/03/2015 35 24,076 281


Parent, Ronald 5 31/03/2015 35 15,544 182


Stickland, Ken Stanley 4 31/03/2015 35 104,650 1,223


Whitmarsh, Lyle Clarence 4 30/03/2015 56 981,255 521,205


Whitmarsh, Lyle Clarence 4 31/03/2015 35 992,864 11,609

True Leaf Medicine International Ltd.

Options Austin, Charles Tait 5 09/06/2014 00


Options Austin, Charles Tait 5 19/03/2015 50 0.1 500,000 500,000


Options Bomford, Darcy E 4 09/06/2014 00


Options Bomford, Darcy E 4 19/03/2015 50 0.1 500,000 500,000


Options Bottomley, Kevin 4 09/06/2014 00


Options Bottomley, Kevin 4 19/03/2015 50 0.1 500,000 500,000


Options Harcourt, Michael Franklin 4 09/06/2014 00


Options Harcourt, Michael Franklin 4 19/03/2015 50 0.1 500,000 500,000


Options Spooner, Christopher 4 09/06/2014 00


Options Spooner, Christopher 4 19/03/2015 50 0.1 500,000 500,000

True North Apartment Real Estate Investment Trust

Trust Units KNOWLTON, JOHN MICHAEL ARTHUR

4 31/03/2015 30 8.3608 10,202 90


Trust Units McKee, Robert 4 31/03/2015 30 8.3608 9,797 318

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3570



Acquired/ Disposed


Trust Units Ossip, Alon Samuel 4 31/03/2015 30 8.3608 7,108 90


Trust Units Rosenberg, Graham Lawrence

4 31/03/2015 30 8.3608 8,766 701


Trust Units Smith, Denim 4 05/06/2012 00


Trust Units Smith, Denim 4 31/03/2015 30 8.3608 346 346

True North Commercial Real Estate Investment Trust

Trust Units Baryshnik, Jeff Matthew 4 31/03/2015 30 5.9919 18,860 732


Trust Units Biggar, William John 4 31/03/2015 30 5.9919 22,122 1,052


Trust Units Cardy, Roland 4 31/03/2015 30 5.9919 13,845 893


Trust Units Ossip, Alon Samuel 4 31/03/2015 30 5.9919 5,023 642


Trust Units Poklar, Sandy Ivan 4 31/03/2015 30 5.9919 7,599 775


Trust Units True North Commercial Real Estate Investment Trust

1 02/03/2015 30 5.99 500 500



1 02/03/2015 30 6 800 300



1 16/03/2015 30 5.99 1,100 300



1 16/03/2015 30 6.02 1,300 200



1 16/03/2015 30 6.01 1,600 300



1 17/03/2015 30 6 1,900 300



1 17/03/2015 30 5.95 2,100 200



1 17/03/2015 30 5.95 2,400 300



1 18/03/2015 30 5.94 3,200 800



1 19/03/2015 30 5.97 3,700 500



1 19/03/2015 30 5.98 4,000 300



1 20/03/2015 30 5.96 4,300 300



1 20/03/2015 30 5.98 4,500 200



1 20/03/2015 30 5.97 4,800 300



1 23/03/2015 30 5.98 5,100 300



1 23/03/2015 30 5.99 5,300 200



1 23/03/2015 30 5.96 5,600 300

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3571



Acquired/ Disposed



1 24/03/2015 30 5.97 5,900 300



1 24/03/2015 30 5.99 6,100 200



1 24/03/2015 30 5.98 6,400 300



1 25/03/2015 30 5.97 6,700 300



1 25/03/2015 30 5.98 6,900 200



1 25/03/2015 30 5.99 7,200 300



1 26/03/2015 30 6.01 7,500 300



1 26/03/2015 30 6.02 7,900 400



1 31/03/2015 38 0 -7,900

Tsodilo Resources Limited Options Bojes, Gary 5 27/03/2015 50 0.83 600,000 50,000

Tucows Inc. Common Shares Ralls, Rawleigh Hazen 4 27/03/2015 10 19.08 378,250 -8,000

Tucows Inc. Common Shares Ralls, Rawleigh Hazen 4 30/03/2015 10 19 368,150 -10,100

Tucows Inc. Common Shares Ralls, Rawleigh Hazen 4 31/03/2015 10 19.04 361,250 -6,900

TVA Group Inc. Options d'achat d'actions classe B

Dion, Pierre 6 30/03/2015 52 94,915 -52,619

TWC Enterprises Limited Common Shares Sahi, Kuldip (Rai) 3, 4, 6, 5 27/03/2015 35 10.97 14,412,296 100,117

TWC Enterprises Limited Common Shares Sahi, Kuldip (Rai) 3, 4, 6, 5 27/03/2015 35 10.97 3,190,610 21,668

TWC Enterprises Limited Common Shares Winberg, Jack 4 27/03/2015 35 10.968 51,797 351

TWC Enterprises Limited Common Shares Winberg, Jack 4 27/03/2015 35 10.968 154,250 1,047

TWC Enterprises Limited Common Shares Winberg, Jack 4 27/03/2015 35 10.968 154,250 1,047








TWC Enterprises Limited Common Shares Wright, Robert D. 5 27/03/2015 35 10.97 5,068 34

Tweed Marijuana Inc. Options Bell, John K. 4 31/10/2014 00

Tweed Marijuana Inc. Options Bell, John K. 4 31/03/2015 50 125,000 125,000

Tweed Marijuana Inc. Options Zekulin, Mark Anthony Nicholas

5 31/03/2015 50 422,487 125,000

Twin Butte Energy Ltd. Common Shares MIDDLETON, DAVID WILLIAM

5 02/04/2015 10 0.69 734,738 150,000

Twin Butte Energy Ltd. Common Shares Wollmann, Robert Ernest Law

5 02/04/2015 10 0.69 600,311 15,000

Twin Butte Energy Ltd. Common Shares Wollmann, Robert Ernest Law

5 02/04/2015 10 0.69 615,311 15,000

U.S. Geothermal Inc. Common Shares Dennis, Gilles 4 02/04/2015 56 0.48 625,000 325,000

U.S. Geothermal Inc. Rights Dennis, Gilles 4 02/04/2015 11 0.48 0 -325,000

U.S. Geothermal Inc. Common Shares Glaspey, Douglas J 4, 5 02/04/2015 56 0.48 644,287 29,730

U.S. Geothermal Inc. Rights Glaspey, Douglas J 4, 5 02/04/2015 11 0.48 0 -29,730

U.S. Geothermal Inc. Common Shares Hawkley, Kerry Don 5 02/04/2015 56 0.48 148,649 23,649

U.S. Geothermal Inc. Rights Hawkley, Kerry Don 5 02/04/2015 11 0.48 0 -23,649

U.S. Geothermal Inc. Common Shares Larkin, Paul Anthony 4, 5 02/04/2015 56 0.6 304,825 6,757

U.S. Geothermal Inc. Rights Larkin, Paul Anthony 4, 5 02/04/2015 11 0.6 0 -6,757

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3572



Acquired/ Disposed

U.S. Geothermal Inc. Common Shares Mink, Leland 4 02/04/2015 56 0.48 78,378 3,378

U.S. Geothermal Inc. Rights Mink, Leland 4 02/04/2015 11 0.48 0 -3,378

U.S. Geothermal Inc. Common Shares Walker, John Howard 4 02/04/2015 56 0.6 16,757 6,757

U.S. Geothermal Inc. Rights Walker, John Howard 4 02/04/2015 11 0.6 0 -6,757

U.S. Geothermal Inc. Common Shares Zurkoff, Jonathan 5 02/04/2015 56 0.48 122,027 27,027

U.S. Geothermal Inc. Rights Zurkoff, Jonathan 5 02/04/2015 11 0.48 0 -27,027

U3O8 Corp. Options Barron, Keith Michael 4 30/03/2015 50 0.035 1,850,000 600,000

U3O8 Corp. Options Bastias, Gabriel Enrique 5 30/03/2015 50 0.035 900,000 400,000

U3O8 Corp. Options Bastias, Hugo 5 30/03/2015 50 0.035 1,000,000 450,000

U3O8 Corp. Options Chan-Palmateer, Nancy 5 30/03/2015 50 0.035 850,000 400,000

U3O8 Corp. Options Constable, David Wayne 4 30/03/2015 50 0.035 1,150,000 600,000

U3O8 Corp. Options Marcet, Pablo 4 30/03/2015 50 0.035 1,000,000 400,000

U3O8 Corp. Options Patricio, Richard J 4 30/03/2015 50 0.035 1,200,000 400,000

U3O8 Corp. Options Reis, Elpidio dos 5 30/03/2015 50 0.035 600,000 200,000

U3O8 Corp. Options Ross, John Charles 5 30/03/2015 50 0.035 950,000 450,000

U3O8 Corp. Options Spencer, Richard Mark 4, 5 30/03/2015 50 0.035 1,900,000 600,000

Uni-Sélect Inc. Unités d'actions différées (UAD) / Deferred Share Unit Plan

Buzzard, James E. 4 31/03/2015 56 43.82 8,998


Buzzard, James E. 4 31/03/2015 56 43.82 8,998 741


Chevrier, Robert 4 31/03/2015 56 43.82 29,360


Chevrier, Robert 4 31/03/2015 56 43.82 29,360 1,426


Courville, André 4 31/03/2015 56 43.82 1,304


Courville, André 4 31/03/2015 56 43.82 1,304 408


Curadeau-Grou, Patricia 4 31/03/2015 56 43.82 6,578


Curadeau-Grou, Patricia 4 31/03/2015 56 43.82 6,578 810


Dulac, Jean 4 31/03/2015 56 43.82 2,155


Dulac, Jean 4 31/03/2015 56 43.82 2,155 114


Hanna, John A. 4 31/03/2015 56 43.82 9,831


Hanna, John A. 4 31/03/2015 56 43.82 9,831 770


Keister, Richard Lewis 4 31/03/2015 56 43.82 3,732


Keister, Richard Lewis 4 31/03/2015 56 43.82 3,732 114


Welvaert, Dennis 4 31/03/2015 56 43.82 3,232


Welvaert, Dennis 4 31/03/2015 56 43.82 3,232 428

Uranium Participation Corporation

Common Shares Uranium Participation Corporation

1 16/03/2015 38 5.5322 1,266,400 57,000

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3573



Acquired/ Disposed



1 17/03/2015 38 5.6077 1,503,200 236,800



1 18/03/2015 38 5.6465 1,544,100 40,900



1 19/03/2015 38 5.5885 1,564,100 20,000



1 20/03/2015 38 5.5872 1,565,900 1,800

UrtheCast Corp. Common Shares Lacavera, Anthony 8 27/03/2015 57 37,500 37,500

UrtheCast Corp. Common Shares Lacavera, Anthony 8 30/03/2015 10 2.037 10,500 -27,000

UrtheCast Corp. Common Shares Lacavera, Anthony 8 30/03/2015 10 2.09 0 -10,500

UrtheCast Corp. Rights Restricted Share Units

Lacavera, Anthony 8 27/03/2015 57 37,500 -37,500

Valeant Pharmaceuticals International, Inc.

Rights Restricted Share Units (RSUs)

Farmer, Ron 4 31/03/2015 56 198.62 19,787 132


Common Shares Goggins, Colleen 4 20/05/2014 00


Common Shares Goggins, Colleen 4 27/03/2015 10 198.12 500 500



Ingram, Robert A. 4 31/03/2015 56 198.62 59,992 122



Melas-Kyriazi, Theo 4 31/03/2015 56 198.62 77,291 132



Provencio, Norma Ann 4 31/03/2015 56 198.62 53,704 188

Vanrocco Financial Inc. Common Shares Naughty, Blair Lawrence 4 27/03/2015 11 0.05 356,742 20,000

Vanrocco Financial Inc. Warrants Naughty, Blair Lawrence 4 30/12/2014 00

Vanrocco Financial Inc. Warrants Naughty, Blair Lawrence 4 27/03/2015 11 0.1 20,000 20,000

Vecima Networks Inc. Common Shares Baptie, Barry Archie 4 31/03/2015 10 10.71 6,200 -500

Vecima Networks Inc. Common Shares Baptie, Barry Archie 4 31/03/2015 51 4.82 10,200 4,000

Vecima Networks Inc. Common Shares Baptie, Barry Archie 4 31/03/2015 51 4.29 11,200 1,000

Vecima Networks Inc. Common Shares Baptie, Barry Archie 4 31/03/2015 51 3.26 12,138 938






Vecima Networks Inc. Options Incentive Stock Options

Baptie, Barry Archie 4 31/03/2015 51 4.82 4,000 -4,000


Baptie, Barry Archie 4 31/03/2015 51 4.29 3,000 -1,000


Baptie, Barry Archie 4 31/03/2015 51 3.26 2,062 -938


Baptie, Barry Archie 4 31/03/2015 51 5.05 1,437 -625


Baptie, Barry Archie 4 31/03/2015 51 4.54 999 -438

Veresen Inc. Common Shares Birbeck, Norman Douglas 5 31/12/2014 30 12.521 1,614 861

Veresen Inc. Common Shares Birbeck, Norman Douglas 5 31/12/2014 30 17 3,417 2,140

Veresen Inc. Performance Share Units Birbeck, Norman Douglas 5 01/05/2012 00

Veresen Inc. Performance Share Units Birbeck, Norman Douglas 5 31/12/2014 56 13.951 3,704 3,704

Veresen Inc. Restricted Share Units Birbeck, Norman Douglas 5 01/05/2012 00

Veresen Inc. Restricted Share Units Birbeck, Norman Douglas 5 31/12/2014 56 13.951 926 926

Veresen Inc. Common Shares Charron, John Paul 4 27/03/2015 10 16.238 20,000 11,000

Veresen Inc. Common Shares Charron, John Paul 4 01/04/2015 10 16.238 11,000

Veresen Inc. Common Shares Day, Thomas 5 03/09/2013 00

Veresen Inc. Common Shares Day, Thomas 5 31/12/2014 30 17.68 2,514 2,514

Veresen Inc. Common Shares Day, Thomas 5 30/03/2015 30 17.68 2,514

Veresen Inc. Common Shares Day, Thomas 5 31/12/2014 30 16.24 2,850 2,247

Veresen Inc. Common Shares Day, Thomas 5 30/03/2015 30 16.24 2,247

Veresen Inc. Common Shares Eastman, Paul 5 31/12/2014 30 16.676 2,876 666

Veresen Inc. Performance Share Units Eastman, Paul 5 01/01/2011 00

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3574



Acquired/ Disposed

Veresen Inc. Performance Share Units Eastman, Paul 5 31/12/2014 56 13.951 4,748 4,748

Veresen Inc. Restricted Share Units Eastman, Paul 5 01/01/2011 00

Veresen Inc. Restricted Share Units Eastman, Paul 5 31/12/2014 56 13.951 1,188 1,188

Veresen Inc. Common Shares Horon, Marlin Edward 5 03/03/2014 00

Veresen Inc. Common Shares Horon, Marlin Edward 5 31/12/2014 30 17.385 244 244

Veresen Inc. Performance Share Units Horon, Marlin Edward 5 03/03/2014 00

Veresen Inc. Performance Share Units Horon, Marlin Edward 5 31/12/2014 56 13.951 9,076 9,076

Veresen Inc. Restricted Share Units Horon, Marlin Edward 5 03/03/2014 00

Veresen Inc. Restricted Share Units Horon, Marlin Edward 5 31/12/2014 56 13.951 2,270 2,270

Veresen Inc. Common Shares Howell, Autumn 5 31/12/2014 30 16.896 84 3

Veresen Inc. Common Shares Howell, Autumn 5 31/12/2014 30 17.672 284 79

Veresen Inc. Preferred Shares Series E Jang, Theresa 5 01/01/2011 00

Veresen Inc. Preferred Shares Series E Jang, Theresa 5 01/04/2015 10 25 1,000 1,000

Veresen Inc. Common Shares King, Kevan Scott 5 23/03/2015 30 14.166 3,389 19

Veresen Inc. Common Shares King, Kevan Scott 5 23/03/2015 30 14.166 2,788 16

Vermilion Energy Inc. Common Shares Davidson, Kenneth 4 01/04/2015 57 54.318 24,432 2,106

Vermilion Energy Inc. Rights Share Awards Davidson, Kenneth 4 01/04/2015 57 54.318 6,310 -2,106

Vermilion Energy Inc. Common Shares Donadeo, Lorenzo 4, 5 01/04/2015 57 54.318 3,169,456 74,062

Vermilion Energy Inc. Rights Share Awards Donadeo, Lorenzo 4, 5 01/04/2015 56 54.318 181,543 49,708

Vermilion Energy Inc. Rights Share Awards Donadeo, Lorenzo 4, 5 01/04/2015 30 54.318 181,979 436

Vermilion Energy Inc. Rights Share Awards Donadeo, Lorenzo 4, 5 01/04/2015 57 54.318 144,948 -37,031

Vermilion Energy Inc. Common Shares Donovan, John 5 01/04/2015 57 54.318 201,307 36,070

Vermilion Energy Inc. Common Shares Donovan, John 5 02/04/2015 10 55.427 191,307 -10,000

Vermilion Energy Inc. Common Shares Donovan, John 5 02/04/2015 10 55.4 191,107 -200

Vermilion Energy Inc. Rights Share Awards Donovan, John 5 01/04/2015 56 54.318 54,356 11,737

Vermilion Energy Inc. Rights Share Awards Donovan, John 5 01/04/2015 30 54.318 54,568 212

Vermilion Energy Inc. Rights Share Awards Donovan, John 5 01/04/2015 57 54.318 36,533 -18,035

Vermilion Energy Inc. Common Shares Engbloom, Robert John 5 01/04/2015 57 54.318 30,851 6,844

Vermilion Energy Inc. Rights Share Awards Engbloom, Robert John 5 01/04/2015 56 54.318 10,817 2,401

Vermilion Energy Inc. Rights Share Awards Engbloom, Robert John 5 01/04/2015 30 54.318 10,857 40

Vermilion Energy Inc. Rights Share Awards Engbloom, Robert John 5 01/04/2015 57 54.318 7,435 -3,422

Vermilion Energy Inc. Common Shares Ghersinich, Claudio 4 01/04/2015 57 54.318 35,912 2,106

Vermilion Energy Inc. Rights Share Awards Ghersinich, Claudio 4 01/04/2015 57 54.318 6,310 -2,106

Vermilion Energy Inc. Rights Share Awards Ghersinich, Claudio 4 01/04/2015 56 54.318 8,711 2,401

Vermilion Energy Inc. Common Shares Hergott, Terrance Gerald 5 01/04/2015 57 54.318 36,717 17,965

Vermilion Energy Inc. Rights Share Awards Hergott, Terrance Gerald 5 01/04/2015 56 54.318 29,489 6,563

Vermilion Energy Inc. Rights Share Awards Hergott, Terrance Gerald 5 01/04/2015 30 54.318 29,595 106

Vermilion Energy Inc. Rights Share Awards Hergott, Terrance Gerald 5 01/04/2015 57 54.318 20,612 -8,983

Vermilion Energy Inc. Common Shares Hicks, Curtis W. 5 01/04/2015 57 54.318 157,355 36,070

Vermilion Energy Inc. Rights Share Awards Hicks, Curtis W. 5 01/04/2015 56 54.318 94,350 27,174

Vermilion Energy Inc. Rights Share Awards Hicks, Curtis W. 5 01/04/2015 30 54.318 94,562 212

Vermilion Energy Inc. Rights Share Awards Hicks, Curtis W. 5 01/04/2015 57 54.318 76,527 -18,035

Vermilion Energy Inc. Common Shares Jasinski, Mona Jean 5 01/04/2015 57 54.318 60,112 28,856

Vermilion Energy Inc. Rights Share Awards Jasinski, Mona Jean 5 01/04/2015 56 54.318 51,041 12,527

Vermilion Energy Inc. Rights Share Awards Jasinski, Mona Jean 5 01/04/2015 30 54.318 51,211 170

Vermilion Energy Inc. Rights Share Awards Jasinski, Mona Jean 5 01/04/2015 57 54.318 36,783 -14,428

Vermilion Energy Inc. Common Shares Kaluza, Michael Sam 5 01/04/2015 57 54.318 26,274 20,223

Vermilion Energy Inc. Common Shares Kaluza, Michael Sam 5 01/04/2015 57 54.318 28,252 1,978

Vermilion Energy Inc. Rights Share Awards Kaluza, Michael Sam 5 01/04/2015 56 54.318 38,628 9,206

Vermilion Energy Inc. Rights Share Awards Kaluza, Michael Sam 5 01/04/2015 30 54.318 38,747 119

Vermilion Energy Inc. Rights Share Awards Kaluza, Michael Sam 5 01/04/2015 57 54.318 28,635 -10,112

Vermilion Energy Inc. Rights Share Awards Kaluza, Michael Sam 5 01/04/2015 30 54.318 28,647 12

Vermilion Energy Inc. Rights Share Awards Kaluza, Michael Sam 5 01/04/2015 57 54.318 27,658 -989

Vermilion Energy Inc. Common Shares KILLI, Joseph F. 4 01/04/2015 57 54.318 75,230 2,106

Vermilion Energy Inc. Rights Share Awards KILLI, Joseph F. 4 01/04/2015 57 54.318 6,310 -2,106

Vermilion Energy Inc. Rights Share Awards KILLI, Joseph F. 4 01/04/2015 56 54.318 8,711 2,401

Vermilion Energy Inc. Common Shares Leiker, Loren Michael 4 01/04/2015 57 54.318 6,579 1,912

Vermilion Energy Inc. Rights Share Awards Leiker, Loren Michael 4 01/04/2015 57 54.318 6,036 -1,912

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3575



Acquired/ Disposed

Vermilion Energy Inc. Rights Share Awards Leiker, Loren Michael 4 01/04/2015 56 54.318 8,437 2,401

Vermilion Energy Inc. Common Shares Macdonald, Larry 4 01/04/2015 57 54.318 46,640 2,106

Vermilion Energy Inc. Rights Share Awards Macdonald, Larry 4 01/04/2015 57 54.318 8,361 -2,106

Vermilion Energy Inc. Rights Share Awards Macdonald, Larry 4 01/04/2015 56 54.318 11,347 2,986

Vermilion Energy Inc. Common Shares Madison, William F. 4 01/04/2015 57 54.318 21,089 2,106

Vermilion Energy Inc. Rights Share Awards Madison, William F. 4 01/04/2015 57 54.318 6,310 -2,106

Vermilion Energy Inc. Rights Share Awards Madison, William F. 4 01/04/2015 56 54.318 8,711 2,401

Vermilion Energy Inc. Common Shares Marchant, Timothy 4 01/04/2015 57 54.318 25,235 2,106

Vermilion Energy Inc. Rights Share Awards Marchant, Timothy 4 01/04/2015 57 54.318 6,310 -2,106

Vermilion Energy Inc. Rights Share Awards Marchant, Timothy 4 01/04/2015 56 54.318 8,711 2,401

Vermilion Energy Inc. Common Shares Marino, Anthony William 5 01/04/2015 57 54.318 113,698 60,065

Vermilion Energy Inc. Rights Share Awards Marino, Anthony William 5 01/04/2015 56 54.318 150,754 47,683

Vermilion Energy Inc. Rights Share Awards Marino, Anthony William 5 01/04/2015 30 54.318 151,108 354

Vermilion Energy Inc. Rights Share Awards Marino, Anthony William 5 01/04/2015 57 54.318 121,076 -30,032

Vermilion Energy Inc. Common Shares Raiss, Sarah 4 01/04/2015 57 54.318 6,005 1,405

Vermilion Energy Inc. Rights Share Awards Raiss, Sarah 4 01/04/2015 57 54.318 4,910 -1,405

Vermilion Energy Inc. Rights Share Awards Raiss, Sarah 4 01/04/2015 56 54.318 7,311 2,401

Vermilion Energy Inc. Rights Share Awards Reinhart, Kevin Jerome 4 27/02/2015 00

Vermilion Energy Inc. Rights Share Awards Reinhart, Kevin Jerome 4 01/04/2015 56 54.318 7,464 7,464

Vermilion Energy Inc. Common Shares Schut, Gerard 5 01/04/2015 57 54.318 40,696 22,361

Vermilion Energy Inc. Rights Share Awards Schut, Gerard 5 01/04/2015 56 54.318 32,159 6,348

Vermilion Energy Inc. Rights Share Awards Schut, Gerard 5 01/04/2015 30 54.318 32,291 132

Vermilion Energy Inc. Rights Share Awards Schut, Gerard 5 01/04/2015 57 54.318 21,111 -11,180

Vermilion Energy Inc. Rights Share Awards Williams, Catherine L. 4 27/02/2015 00

Vermilion Energy Inc. Rights Share Awards Williams, Catherine L. 4 01/04/2015 56 54.318 7,464 7,464

Vicwest Inc. Deferred Share Units Berrill, Fraser Reeve 4 01/04/2015 56 110,635 1,550

Vicwest Inc. Deferred Share Units Hampson, Philip R.O. 4 01/04/2015 56 94,339 1,869

Vicwest Inc. Deferred Share Units MacKey, Michael 4 01/04/2015 56 15,161 895

Vicwest Inc. Deferred Share Units Mang, Wayne Paul Elton 4 01/04/2015 56 53,661 994

Vicwest Inc. Deferred Share Units Manning, Neil Donald 4 01/04/2015 56 32,269 1,392

Voya Global Income Solutions Fund

Units - Class A Murdoch, W. Neil 5 30/03/2015 10 9.17 7,700 1,700

Wajax Corporation Rights Directors' Deferred Share Unit Plan

Alford, Thomas Malcolm 4 31/03/2015 56 24.67 1,206 1,054


Barrett, Edward Malcolm 4 31/03/2015 56 24.67 27,251 405


Bourne, Ian Alexander 4 31/03/2015 56 24.67 16,370 506


Carty, Douglas 4 31/03/2015 56 24.67 9,668 613

Wajax Corporation Common Shares Dexter, Robert P. 4 27/03/2015 10 25.068 111,100 5,000


Dexter, Robert P. 4 31/03/2015 56 24.67 61,412 1,206


Eby, John Clifford 4 31/03/2015 56 24.67 17,620 780


Gagne, Paul Ernest 4 31/03/2015 56 24.67 42,291 1,140


Hole, James Douglas 4 31/03/2015 56 24.67 31,129 1,054


Taylor, Alexander S. 4 31/03/2015 56 24.67 9,757 405

Wallbridge Mining Company Limited

Common Shares Crookes, Wayne Myron 3 26/03/2015 10 0.05 7,163,456 87,000

Wallbridge Mining Company Limited

Common Shares Crookes, Wayne Myron 3 27/03/2015 10 0.05 7,166,456 3,000

Waseco Resources Inc. Options bartlett, derek 4 30/03/2015 50 0.1 200,000 200,000

Waseco Resources Inc. Options Richardson, James Angus Wilson (Bilkstys-)

4, 5 26/03/2015 52 0.1 0 -287,500

Waseco Resources Inc. Options Richardson, James Angus Wilson (Bilkstys-)

4, 5 30/03/2015 50 0.1 200,000 200,000

Waseco Resources Inc. Options Williams, Richard David 4, 5 30/03/2015 50 0.1 200,000 200,000

Wesdome Gold Mines Ltd. Common Shares Uloth, Rowland Wallace 4 02/04/2015 10 1.1419 600,225 9,500

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3576



Acquired/ Disposed

Wesdome Gold Mines Ltd. Common Shares Wesdome Gold Mines Ltd 1 31/03/2015 10 1.143 2,233,200 22,000



West Fraser Timber Co. Ltd. Deferred Share Unit Binkley, Clark 4 31/03/2015 56 40,249 575

West Fraser Timber Co. Ltd. Deferred Share Unit Gibson, J. Duncan 4 31/03/2015 56 18,056 286

West Fraser Timber Co. Ltd. Deferred Share Unit Ketcham, Samuel Wright 4 31/03/2015 56 7,066 286

West Fraser Timber Co. Ltd. Deferred Share Unit Ludwig, Harald Horst 4 31/03/2015 56 37,854 423

West Fraser Timber Co. Ltd. Deferred Share Unit Miller, Gerald 4 31/03/2015 56 5,051 286

West Fraser Timber Co. Ltd. Deferred Share Unit Phillips, Robert L. 4 31/03/2015 56 7,066 286

West Fraser Timber Co. Ltd. Deferred Share Unit Rennie, Janice Gaye 4 31/03/2015 56 18,351 286

Western Energy Services Corp.

Common Shares Western Energy Services Corp.

1 28/03/2015 38 0 -107,400

Western Uranium Corporation (formerly known as Homeland Uranium Inc.)

Common Shares Wilder, Andrew 4 06/02/2015 00 335,754

WesternOne Inc. Common Shares Turner, Thomas Richard 4 02/04/2015 10 1.03 45,900 300

WesternOne Inc. Common Shares Turner, Thomas Richard 4 02/04/2015 10 1.0299 65,500 19,600

WesternOne Inc. Common Shares Turner, Thomas Richard 4 02/04/2015 10 1.02 65,600 100

WestJet Airlines Ltd. Rights Deferred Share Units

Beddoe, Clive 5 31/03/2015 56 1,555 8


Beddoe, Clive 5 31/03/2015 56 1,804 249


Bolton, Hugh John 4 31/03/2015 56 20,009 93


Bolton, Hugh John 4 31/03/2015 56 20,382 373


Brenneman, Ron A. 4 31/03/2015 56 2,327 11


Brenneman, Ron A. 4 31/03/2015 56 2,700 373


Godfrey, Brett Alan 4 31/03/2015 56 2,327 11


Godfrey, Brett Alan 4 31/03/2015 56 2,700 373


Jackson, Allan William 4 31/03/2015 56 37,210 172


Jackson, Allan William 4 31/03/2015 56 38,171 961


Jackson, Steven Barry 4 31/03/2015 56 23,392 108


Jackson, Steven Barry 4 31/03/2015 56 24,303 911


Matthews, Wilmot Leslie 4 31/03/2015 56 30,445 141


Matthews, Wilmot Leslie 4 31/03/2015 56 31,290 845


Menard, L. Jacques 4 31/03/2015 56 5,250 25


Menard, L. Jacques 4 31/03/2015 56 5,623 373


Pollock, Laurence Malcolm 4 31/03/2015 56 2,327 11


Pollock, Laurence Malcolm 4 31/03/2015 56 2,700 373


Rennie, Janice Gaye 4 31/03/2015 56 9,545 45


Rennie, Janice Gaye 4 31/03/2015 56 9,918 373

WestJet Airlines Ltd. Common Shares - Voting WestJet Airlines Ltd 1 03/03/2015 38 28.65 700,000 700,000

WestJet Airlines Ltd. Common Shares - Voting WestJet Airlines Ltd 1 06/03/2015 38 0 -700,000

Westshore Terminals Investment Corporation

Common Shares Westshore Terminals Investment Corporation

1 23/03/2015 00



1 23/03/2015 38 29.99 2,000 2,000

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3577



Acquired/ Disposed



1 23/03/2015 38 0 -2,000

Weststar Resources Corp. Common Shares Rascan, William 4, 5 26/03/2015 10 0.02 2,680,000 50,000

Windfire Capital Corp. Common Shares Laberge, Guy 3 24/03/2015 10 0.03 4,637,000 5,000



Worldwide Marijuana Inc. Common Shares Fretwell, Gordon 5 23/03/2015 00 700,001

Worldwide Marijuana Inc. Options Fretwell, Gordon 5 23/03/2015 00

Worldwide Marijuana Inc. Options Fretwell, Gordon 5 30/03/2015 50 0.02 500,000 500,000

Woulfe Mining Corp. Common Shares Howlett, Brian 4 25/03/2015 00

Woulfe Mining Corp. Options Howlett, Brian 4 25/03/2015 00

WPT Industrial Real Estate Investment Trust

Deferred Unit Arkema, Milo Dwight 4 31/12/2014 30 9,644 368


Deferred Unit Cimino, Matthew James 5 31/12/2014 30 32,524 1,786


Deferred Unit Frederiksen, Scott 4, 5 31/12/2014 30 43,366 2,381


Deferred Unit Heieie, Dennis Grant 5 31/12/2014 30 32,524 1,786


Deferred Unit Kavanagh, Sarah Baldwin 4 31/12/2014 30 9,783 376


Deferred Unit Rosenbaum, Harry 4 31/12/2014 30 9,260 363


Deferred Unit Silberstein, Andrew 4 31/12/2014 30 9,096 350


Deferred Unit Swanson, Charles 4 31/12/2014 30 395


Deferred Unit Swanson, Charles 4 31/12/2014 30 395


Deferred Unit Wolf, Robert Thomas 4 31/12/2014 30 13,891 524

WSP Global Inc. Common Shares Ackert, David Lloyd 5 27/03/2015 30 33.547 5,114 114

WSP Global Inc. Common Shares Ackert, David Lloyd 5 27/03/2015 30 36.015 5,124 10

WSP Global Inc. Options Ackert, David Lloyd 5 27/03/2015 50 41.69 70,076 30,600

WSP Global Inc. Performance Share Unit Ackert, David Lloyd 5 27/03/2015 56 41.69 17,616 8,910

WSP Global Inc. Performance Share Unit Dollin, Paul 5 27/03/2015 56 41.69 33,539 16,480

WSP Global Inc. Performance Share Unit Kelly, Gregory 5 05/11/2014 00

WSP Global Inc. Performance Share Unit Kelly, Gregory 5 27/03/2015 56 41.69 11,550 11,550

WSP Global Inc. Common Shares L'Heureux, Alexandre 5 27/03/2015 30 26.71 12,153 106

WSP Global Inc. Options L'Heureux, Alexandre 5 02/03/2015 50 41.69 48,210

WSP Global Inc. Options L'Heureux, Alexandre 5 02/03/2015 50 41.69 48,210

WSP Global Inc. Options L'Heureux, Alexandre 5 27/03/2015 50 41.69 107,340 48,210

WSP Global Inc. Performance Share Unit L'Heureux, Alexandre 5 27/03/2015 56 41.69 25,465 14,040

WSP Global Inc. Common Shares Langlois, David 5 27/03/2015 30 36.015 38 38

WSP Global Inc. Options Langlois, David 5 02/03/2015 50 41.69 5,570

WSP Global Inc. Options Langlois, David 5 02/03/2015 50 41.69 5,570

WSP Global Inc. Options Langlois, David 5 27/03/2015 50 41.69 10,787 5,570

WSP Global Inc. Performance Share Unit Langlois, David 5 27/03/2015 56 41.69 3,143 1,620

WSP Global Inc. Performance Share Unit Murphy, John 5 05/11/2014 00

WSP Global Inc. Performance Share Unit Murphy, John 5 27/03/2015 56 41.69 12,920 12,920

WSP Global Inc. Common Shares Perreault, Josée 4 26/03/2015 10 33.593 5,000 2,500

WSP Global Inc. Options Richer, Louis-Martin 5 27/03/2015 50 41.69 10,787 5,570

WSP Global Inc. Performance Share Unit Richer, Louis-Martin 5 27/03/2015 56 41.69 3,143 1,620

WSP Global Inc. Common Shares Seccareccia, Pierre 4 31/12/2014 30 33.547 100

WSP Global Inc. Common Shares Seccareccia, Pierre 4 31/12/2014 30 33.547 100

WSP Global Inc. Common Shares Seccareccia, Pierre 4 27/03/2015 30 33.547 3,100 100

WSP Global Inc. Common Shares Shoiry, Pierre 4, 5 27/03/2015 30 34.14 885,410 37,927

WSP Global Inc. Common Shares Shoiry, Pierre 4, 5 27/03/2015 30 25.442 885,516 106

WSP Global Inc. Options Shoiry, Pierre 4, 5 27/03/2015 50 41.69 196,994 105,690

WSP Global Inc. Performance Share Unit Shoiry, Pierre 4, 5 27/03/2015 56 41.69 57,427 30,770

WSP Global Inc. Performance Share Unit Templeton, Guy 5 05/11/2014 00

Insider Reporting

April 9, 2015

(2015), 38 OSCB 3578



Acquired/ Disposed

WSP Global Inc. Performance Share Unit Templeton, Guy 5 27/03/2015 56 41.69 11,160 11,160

WSP Global Inc. Options Zamuner, Valery 5 27/03/2015 50 41.69 24,602 18,080

WSP Global Inc. Performance Share Unit Zamuner, Valery 5 27/03/2015 56 41.69 7,174 5,270

Yamana Gold Inc. Common Shares Doddridge, Elizabeth 5 31/12/2014 30 1,154

Yamana Gold Inc. Common Shares Doddridge, Elizabeth 5 31/12/2014 30 1,154

Yamana Gold Inc. Common Shares Doddridge, Elizabeth 5 31/12/2014 30 3,819 1,668

Yamana Gold Inc. Common Shares Main, Charles 5 31/12/2014 30 20,853 3,443

Yamana Gold Inc. PSU Main, Charles 5 17/06/2014 56 42,977

Yamana Gold Inc. PSU Main, Charles 5 17/06/2014 56 45,000 45,000

Yamana Gold Inc. PSU Marrone, Peter 4, 5 17/06/2014 56 773,595

Yamana Gold Inc. PSU Marrone, Peter 4, 5 17/06/2014 56 450,000 450,000

Yamana Gold Inc. Common Shares Martins, Ana Lucia 5 31/12/2014 30 1,647 321

Yamana Gold Inc. Common Shares McKnight, Greg 5 31/12/2014 30 16,506 2,796

Yamana Gold Inc. PSU McKnight, Greg 5 17/06/2014 56 171,910

Yamana Gold Inc. PSU McKnight, Greg 5 17/06/2014 56 175,000 175,000

Yamana Gold Inc. PSU Tsakos, Sofia 5 17/06/2014 56 128,932

Yamana Gold Inc. PSU Tsakos, Sofia 5 17/06/2014 56 130,000 130,000

Yieldplus Income Fund Trust Units YIELDPLUS Income Fund 1 30/03/2015 38 6.93 86,232,133 200

Yieldplus Income Fund Trust Units YIELDPLUS Income Fund 1 31/03/2015 38 6.9 86,233,333 1,200

Yieldplus Income Fund Trust Units YIELDPLUS Income Fund 1 01/04/2015 10 6.92 86,229,833 -3,500

Yorbeau Resources Inc. Common Shares Class A Gagnier, Pierre 4 02/04/2015 10 0.06 1,428,000 150,000

Zargon Oil & Gas Ltd. Common Shares Hansen, Craig Henry 4, 5 27/03/2015 10 3.05 45,000 4,100

Zazu Metals Corporation Common Shares Ford, Matthew Thomas 5 27/03/2015 10 0.204 234,200 1,500

Zephyr Minerals Ltd. Common Shares Felderhof, G. William 4 30/03/2015 10 0.145 1,800,333 5,000

April 9, 2015

(2015), 38 OSCB 3579

Chapter 8

Notice of Exempt Financings REPORT OF TRADES ON FORM 45-106F1 AND 45-501F1 There are no Reports of Exempt Distribution on Forms 45-106F1 or 45-501F1 (Reports) in this Bulletin. Reports filed on or after February 19, 2014 must be filed electronically. As a result of the transition to mandated electronic filings, the OSC is considering the most effective manner to make data about filed Reports available to the public, including whether and how this information should be reflected in the Bulletin. In the meantime, Reports filed with the Commission continue to be available for public inspection during normal business hours.

Notice of Exempt Financings

April 9, 2015

(2015), 38 OSCB 3580


April 9, 2015

(2015), 38 OSCB 3581

Chapter 11

IPOs, New Issues and Secondary Financings Issuer Name: Canadian Banc Corp. Principal Regulator - Ontario Type and Date: Preliminary Short Form Prospectus dated April 1, 2015 NP 11-202 Receipt dated April 1, 2015 Offering Price and Description: Maximum: $ * - * Preferred Shares and * Class A Shares Prices: $ * per Preferred Share and $* per Class A Share Underwriter(s) or Distributor(s): NATIONAL BANK FINANCIAL INC. CIBCWORLD MARKETS INC. RBC DOMINION SECURITIES INC. SCOTIA CAPITAL INC. TD SECURITIES INC. BMO NESBITT BURNS INC. GMP SECURITIES L.P. CANACCORD GENUITY CORP. DUNDEE SECURITIES LTD. RAYMOND JAMES LTD. DESJARDINS SECURITIES INC. MACKIE RESEARCH CAPITAL CORPORATION MANULIFE SECURITIES INCORPORATED Promoter(s): - Project #2331704 _______________________________________________

Issuer Name: Canadian Banc Corp. Principal Regulator - Ontario Type and Date: Amended and Restated Preliminary Short Form Prospectus dated April 2, 2015 NP 11-202 Receipt dated April 2, 2015 Offering Price and Description: $30,690,000.00 - 1,320,000 Preferred Shares and 1,320,000 Class A Shares Prices: $10.00 per Preferred Share and $13.25 per Class A Share Underwriter(s) or Distributor(s): NATIONAL BANK FINANCIAL INC. CIBCWORLD MARKETS INC. RBC DOMINION SECURITIES INC. SCOTIA CAPITAL INC. TD SECURITIES INC. BMO NESBITT BURNS INC. GMP SECURITIES L.P. CANACCORD GENUITY CORP. DUNDEE SECURITIES LTD. RAYMOND JAMES LTD. DESJARDINS SECURITIES INC. MACKIE RESEARCH CAPITAL CORPORATION MANULIFE SECURITIES INCORPORATED Promoter(s): - Project #2331704 _______________________________________________ Issuer Name: Excel India Growth & Income Company Ltd. Type and Date: Preliminary Long Form Non-Offering Prospectus dated March 31, 2015 Receipted on April 2, 2015 Offering Price and Description: - Underwriter(s) or Distributor(s): - Promoter(s): EXCEL FUNDS MANAGEMENT INC. Project #2331749 _______________________________________________

IPOs, New Issues and Secondary Financings

April 9, 2015

(2015), 38 OSCB 3582

Issuer Name: Excel India Growth & Income Fund Principal Regulator - Ontario Type and Date: Preliminary Long Form Prospectus dated March 31, 2015 NP 11-202 Receipt dated April 1, 2015 Offering Price and Description: Maximum Offering: $ * - * Units Minimum Offering: $20,000,000 - 1,666,667 Units Price: $12.00 per Unit Minimum purchase: 100 Units Underwriter(s) or Distributor(s): BMO Nesbitt Burns Inc. CIBC World Markets Inc. RBC Dominion Securities Inc. Scotia Capital Inc. National Bank Financial Inc. Raymond James Ltd. TD Securities Inc. Canaccord Genuity Corp. GMP Securities L.P. Desjardins Securities Inc. Dundee Securities Ltd. Industrial Alliance Securities Inc. Mackie Research Capital Corporation Manulife Securities Inc. PI Financial Corp. Sherbrooke Street Capital (SSC) Inc. Promoter(s): EXCEL FUNDS MANAGEMENT INC Project #2329374 _______________________________________________ Issuer Name: Firm Capital Mortgage Investment Corporation Principal Regulator - Ontario Type and Date: Preliminary Short Form Prospectus dated April 1, 2015 NP 11-202 Receipt dated April 1, 2015 Offering Price and Description: $25,000,000.00 - 5.30% Convertible Unsecured Subordinated Debentures due May 31, 2022 PRICE: $1,000 per Debenture Underwriter(s) or Distributor(s): TD Securities Inc. Scotia Capital Inc. Canaccord Genuity Corp. GMP Securities L.P. CIBC World Markets Inc. Dundee Securities Ltd. RBC Dominion Securities Inc. Desjardins Securities Inc. Promoter(s): - Project #2325286 _______________________________________________

Issuer Name: Gibson Energy Inc. Principal Regulator - Alberta Type and Date: Preliminary Base Shelf Prospectus dated March 30, 2015 NP 11-202 Receipt dated March 31, 2015 Offering Price and Description: $1,500,000,000.00 Common Shares Preferred Shares Debt Securities Subscription Receipts Underwriter(s) or Distributor(s): - Promoter(s): - Project #2327905 _______________________________________________ Issuer Name: LDIC North American Small Business Fund (Corporate Class) Principal Regulator - Ontario Type and Date: Preliminary Simplified Prospectus dated April 1, 2015 NP 11-202 Receipt dated April 2, 2015 Offering Price and Description: Series A and F shares Underwriter(s) or Distributor(s): LDIC Inc. Promoter(s): LDIC INC. Project #2332221 _______________________________________________ Issuer Name: Mackenzie Global Tactical Investment Grade Bond Fund Mackenzie USD Convertible Securities Fund Mackenzie USD Global Strategic Income Fund Mackenzie USD Global Tactical Bond Fund Mackenzie USD Ultra Short Duration Income Fund Principal Regulator - Ontario Type and Date: Preliminary Simplified Prospectuses dated March 30, 2015 NP 11-202 Receipt dated March 31, 2015 Offering Price and Description: Series A, AR, D, F, F6, F8, O, S6, T6, T8, SC, PW, PWF, PWT8, PWF8, PWX and PWX8 Securities Underwriter(s) or Distributor(s): - Promoter(s): MACKENZIE FINANCIAL CORPORATION Project #2329916 _______________________________________________


April 9, 2015

(2015), 38 OSCB 3583

Issuer Name: Medwell Capital Corp. Principal Regulator - Alberta Type and Date: Preliminary Long Form Prospectus dated April 2, 2015 NP 11-202 Receipt dated April 2, 2015 Offering Price and Description: $* - *Subordinate Voting Shares Price * per Subordinate Voting Share Underwriter(s) or Distributor(s): TD SECURITIES INC. NATIONAL BANK FINANCIAL INC. Promoter(s): - Project #2332592 _______________________________________________ Issuer Name: Peyto Exploration & Development Corp. Principal Regulator - Alberta Type and Date: Preliminary Short Form Prospectus dated March 31, 2015 NP 11-202 Receipt dated March 31, 2015 Offering Price and Description: $150,015,000 - 4,380,000 Common Shares Price: $34.25 per Common Share Underwriter(s) or Distributor(s): BMO Nesbitt Burns Inc. FirstEnergy Capital Corp. RBC Dominion Securities Inc. CIBC World Markets Inc. Peters & Co. Limited Scotia Capital Inc. TD Securities Inc . Raymond James Ltd. Canaccord Genuity Corp. Dundee Securities Ltd. Promoter(s): - Project #2324510 _______________________________________________

Issuer Name: Premium Brands Holdings Corporation Principal Regulator - British Columbia Type and Date: Preliminary Short Form Prospectus dated March 31, 2015 NP 11-202 Receipt dated March 31, 2015 Offering Price and Description: $60,000,000 - 5.00% Convertible Unsecured Subordinated Debentures Price: $1,000.00 Per Debenture Underwriter(s) or Distributor(s): BMO Nesbitt Burns Inc. CIBC World Markets Inc. Cormark Securities Inc. National Bank Financial Inc. Scotia Capital Inc. TD Securities Inc. Canaccord Genuity Corp. PI Financial Corp. Promoter(s): - Project #2324623 _______________________________________________ Issuer Name: Real Asset Income and Growth Fund Principal Regulator - Quebec Type and Date: Preliminary Long Form Prospectus dated March 31, 2015 NP 11-202 Receipt dated March 31, 2015 Offering Price and Description: Maximum Offering: $ * - * Class A Units and/or Class U Units Minimum Offering: $20,000,000 - 2,000,000 Class A Units Price: $10.00 per Class A Unit and US$10.00 per Class U Unit Minimum Purchase: 100 Units Underwriter(s) or Distributor(s): CIBC World Markets Inc. RBC Dominion Securities Inc. National Bank Financial Inc. Scotia Capital Inc. BMO Nesbitt Burns Inc. TD Securities Inc. GMP Securities L.P. Raymond James Ltd. Desjardins Securities Inc. Canaccord Genuity Corp. Dundee Securities Ltd. Mackie Research Capital Corporation Manulife Securities Incorporated Promoter(s): FIERA CAPITAL CORPORATION Project #2329151 _______________________________________________


April 9, 2015

(2015), 38 OSCB 3584

Issuer Name: BlueBay $U.S. Global Convertible Bond Fund (Canada) Principal Regulator - Ontario Type and Date: Final Simplified Prospectus dated March 31, 2015 NP 11-202 Receipt dated April 2, 2015 Offering Price and Description: Series A, Advisor Series, Advisor T5 Series, Series T5, Series H, Series D, Series F, Series FT5, Series I and Series O units Underwriter(s) or Distributor(s): RBC Global Asset Management Inc. Royal Mutual Funds Inc. Royal Mutual Funds Inc./RBC Direct Investing Inc. Promoter(s): RBC Global Asset Management Inc. Project #2312660 _______________________________________________ Issuer Name: Cara Operations Limited Principal Regulator - Ontario Type and Date: Final Long Form Prospectus dated March 31, 2015 NP 11-202 Receipt dated April 1, 2015 Offering Price and Description: $200,100,000.00 - 8,700,000 Subordinate Voting Shares Price: $23.00 per Subordinate Voting Share Underwriter(s) or Distributor(s): Scotia Capital Inc. BMO Nesbitt Burns Inc. RBC Dominion Securities Inc. CIBC World Markets Inc. TD Securities Inc. National Bank Financial Inc. Canaccord Genuity Corp GMP Securities L.P. Raymond James Ltd. Cormark Securities Inc. Laurentian Bank Securities Inc. Promoter(s): - Project #2308034 _______________________________________________

Issuer Name: CMP 2015 Resource Limited Partnership Principal Regulator - Ontario Type and Date: Final Long Form Prospectus dated March 30, 2015 NP 11-202 Receipt dated March 31, 2015 Offering Price and Description: $30,000,000 (Maximum) 30,000 Limited Partnership Units Price per Unit: $1,000 Minimum Subscription: $5,000 (Five Units Underwriter(s) or Distributor(s): Scotia Capital Inc. CIBC World Markets Inc. National Bank Financial Inc. RBC Dominion Securities Inc. BMO Nesbitt Burns Inc. Dundee Securities Ltd. TD Securities Inc. Burgeonvest Bick Securities Limited Canaccord Genuity Corp. Desjardins Securities Inc. Raymond James Ltd. Promoter(s): - Project #2312723 _______________________________________________ Issuer Name: Dynamic Alternative Investments Private Pool Class Principal Regulator - Ontario Type and Date: Amendment No. 1 dated February 9, 2015 to the Simplified Prospectus (amendment no. 1) and Amendment No. 2 dated February 9, 2015 to the Annual Information Form (amendment no. 2, together with amendment no. 1, “amendment no. 2”) dated May 28, 2014 NP 11-202 Receipt dated April 1, 2015 Offering Price and Description: Series F, FH, FT and O Shares Underwriter(s) or Distributor(s): 1832 Asset Management L.P. Promoter(s): 1832 Asset Management L.P. Project #2192635 _______________________________________________ Issuer Name: Element Financial Corporation Principal Regulator - Ontario Type and Date: Final Base Shelf Prospectus dated March 31, 2015 NP 11-202 Receipt dated March 31, 2015 Offering Price and Description: $3,750,000,000.00 - Debt Securities, Preferred Shares, Common Shares,Subscription Receipts, Warrants, Units Underwriter(s) or Distributor(s): - Promoter(s): - Project #2323920 _______________________________________________


April 9, 2015

(2015), 38 OSCB 3585

Issuer Name: Series A, Series B and Series F shares (unless otherwise indicated) Fidelity Canadian Disciplined Equity® Class (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity Canadian Growth Company Class Fidelity Canadian Large Cap Class (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity Canadian Opportunities Class (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity Dividend Class (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity Greater Canada Class (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity Special Situations Class (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity True North® Class (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity Dividend Plus Class (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity American Disciplined Equity® Class (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity American Disciplined Equity® Currency Neutral Class (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity American Opportunities Class Fidelity U.S. Focused Stock Class (Series T5, Series T8, Series S5 and Series S8 shares also available) Fidelity Small Cap America Class (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity U.S. All Cap Class (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity American Equity Class (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity American Equity Currency Neutral Class (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity Small Cap America Currency Neutral Class (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity U.S. All Cap Currency Neutral Class (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity U.S. Focused Stock Currency Neutral Class (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity Event Driven Opportunities Class (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity AsiaStar® Class

Fidelity China Class (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity Emerging Markets Class Fidelity Europe Class Fidelity Far East Class (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity Global Class (Series T5, Series T8, Series S5 and Series S8 shares also available) Fidelity Global Disciplined Equity® Class (Series T5, Series T8, Series S5 and Series S8 shares also available) Fidelity Global Disciplined Equity® Currency Neutral Class (Series T5, Series T8, Series S5 and Series S8 shares also available) Fidelity Global Dividend Class (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity Global Large Cap Class (Series T5, Series T8, Series S5 and Series S8 shares also available) Fidelity Global Large Cap Currency Neutral Class (Series T5, Series T8, Series S5 and Series S8 shares also available) Fidelity Global Small Cap Class Fidelity International Disciplined Equity® Class (Series T5, Series T8, Series S5 and Series S8 shares also available) Fidelity International Disciplined Equity® Currency Neutral Class (Series T5, Series T8, Series S5 and Series S8 shares also available) Fidelity Japan Class Fidelity NorthStar® Class (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity NorthStar® Currency Neutral Class (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity Global Concentrated Equity Class (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity International Growth Class (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity Global Consumer Industries Class Fidelity Global Financial Services Class Fidelity Global Health Care Class Fidelity Global Natural Resources Class Fidelity Global Real Estate Class (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity Global Technology Class Fidelity Global Telecommunications Class Fidelity Canadian Asset Allocation Class (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity Canadian Balanced Class (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity Monthly Income Class (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available)


April 9, 2015

(2015), 38 OSCB 3586

Fidelity Income Class Portfolio (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity Global Income Class Portfolio (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity Balanced Class Portfolio (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity Global Balanced Class Portfolio (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity Growth Class Portfolio (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity Global Growth Class Portfolio (Series T5, Series T8, Series S5, Series S8, Series F5 and Series F8 shares also available) Fidelity Canadian Short Term Income Class Fidelity Corporate Bond Class (formerly Fidelity Corporate Bond Capital Yield Class) (Series T5, S5 and F5 shares also available) Classes of shares of Fidelity Capital Structure Corp. Principal Regulator - Ontario Type and Date: Final Simplified Prospectuses dated March 27, 2015 NP 11-202 Receipt dated April 2, 2015 Offering Price and Description: - Underwriter(s) or Distributor(s): - Promoter(s): - Project #2308295 _______________________________________________ Issuer Name: FortisBC Energy Inc. Principal Regulator - British Columbia Type and Date: Final Base Shelf Prospectus dated April 1, 2015 NP 11-202 Receipt dated April 1, 2015 Offering Price and Description: $1,000,000,000 Medium Term Note Debentures (unsecured) Underwriter(s) or Distributor(s): BMO Nesbitt Burns Inc. Casgrain & Company Limited CIBC World Markets Inc. HSBC Securities (Canada) Inc. National Bank Financial Inc. RBC Dominion Securities Inc. Scotia Capital Inc. TD Securities Inc Promoter(s): - Project #2325087 _______________________________________________

Issuer Name: Glacier Credit Card Trust Principal Regulator - Ontario Type and Date: Final Base Shelf Prospectus dated March 31, 2015 NP 11-202 Receipt dated March 31, 2015 Offering Price and Description: Up to $1,500,000,000.00 Credit Card Asset-Backed Notes Underwriter(s) or Distributor(s): BMO Nesbitt Burns Inc. CIBC World Markets Inc. Desjardins Securities Inc. HSBC Securities (Canada) Inc. National Bank Financial Inc. RBC Dominion Securities Inc. Scotia Capital Inc. TD Securities Inc. Promoter(s): Canadian Tire Bank Project #2318948 _______________________________________________ Issuer Name: iShares Diversified Monthly Income ETF (formerly, iShares Diversified Monthly Income Fund) iShares Short Term Strategic Fixed Income ETF Principal Regulator - Ontario Type and Date: Final Long Form Prospectus dated March 30, 2015 NP 11-202 Receipt dated April 1, 2015 Offering Price and Description: Mutual Fund Units @ Net Asset Value Underwriter(s) or Distributor(s): Blackrock Asset Management Canada Limited Promoter(s): - Project #2309445 _______________________________________________


April 9, 2015

(2015), 38 OSCB 3587

Issuer Name: PowerShares 1-3 Year Laddered Floating Rate Note Index ETF PowerShares 1-5 Year Laddered Investment Grade Corporate Bond Index ETF PowerShares LadderRite U.S. 0-5 Year Corporate Bond Index ETF PowerShares Ultra Liquid Long Term Government Bond Index ETF PowerShares Senior Loan (CAD Hedged) Index ETF PowerShares Fundamental High Yield Corporate Bond (CAD Hedged) Index ETF PowerShares Canadian Preferred Share Index ETF PowerShares Canadian Dividend Index ETF PowerShares S&P/TSX Composite Low Volatility Index ETF PowerShares S&P 500 Low Volatility (CAD Hedged) Index ETF PowerShares S&P International Developed Low Volatility Index ETF PowerShares S&P Emerging Markets Low Volatility Index ETF PowerShares FTSE RAFI Canadian Fundamental Index ETF PowerShares FTSE RAFI Canadian Small-Mid Fundamental Index ETF PowerShares FTSE RAFI U.S. Fundamental Index ETF PowerShares FTSE RAFI U.S. Fundamental (CAD Hedged) Index ETF PowerShares FTSE RAFI Global+ Fundamental Index ETF PowerShares QQQ (CAD Hedged) Index ETF Principal Regulator - Ontario Type and Date: Final Long Form Prospectus dated March 27, 2015 NP 11-202 Receipt dated March 31, 2015 Offering Price and Description: units Underwriter(s) or Distributor(s): - Promoter(s): INVESCO CANADA LTD. Project #2307789 _______________________________________________


April 9, 2015

(2015), 38 OSCB 3588


April 9, 2015

(2015), 38 OSCB 3589

Chapter 12

Registrations 12.1.1 Registrants

Type Company Category of Registration Effective Date

Change in Registration Category

Claret Asset Management Corporation

From: Investment Fund Manager and Portfolio Manager To: Investment Fund Manager, Portfolio Manager and Commodity Trading Manager

April 1, 2015

Firm Name Change

From: Magna Partners Ltd. To: Velocity Trade Capital Ltd.

Investment Dealer March 19, 2015

New Registration GMO Canada LLC Exempt Market Dealer April 2, 2015

Voluntary Surrender Investment Financial Group Inc.

Mutual Fund Dealer April 2, 2015

Voluntary Surrender Deutsche Asset Management Canada Limited

Commodity Trading Manager, Commodity Trader Counsel, Portfolio Manager, Exempt Market Dealer

April 2, 2015

Registrations

April 9, 2015

(2015), 38 OSCB 3590


April 9, 2015

(2015), 38 OSCB 3591

Chapter 25

Other Information 25.1 Approvals 25.1.1 Dorchester Wealth Management Company Headnote: Clause 213(3)(b) of the Loan and Trust Corporations Act – application by manager for approval to act as trustee of pooled funds and future pooled funds to be established and managed by the applicant and offered pursuant to a prospectus exemption(s). Statutes Cited: Loan and Trust Corporations Act, R.S.O. 1990, c. L. 25, as

am., s. 213(3)(b). March 31, 2015 Dentons Canada LLP 1 Place Ville Marie, Suite 3900 Montreal, QC, Canada H3B 4M7 Attention: Scott Rozansky Dear Sirs/Mesdames: Re: Dorchester Wealth Management Company (the

“Applicant”) Application pursuant to clause 213(3)(b) of the

Loan and Trust Corporations Act (Ontario) for Approval to act as trustee

Application #2015/0101 Further to your application dated February 23, 2015 (the “Application”) filed on behalf of the Applicant, and based on the facts set out in the Application and the representation by the Applicant that the assets of Dorchester Opportunity Fund and any other future mutual fund trusts that the Applicant may establish and manage from time to time, the securities of which will be offered pursuant to prospectus exemptions, will be held in the custody of a trust company incorporated, and licensed or registered, under the laws of Canada or a jurisdiction, or a bank listed in Schedule I, II, or III of the Bank Act (Canada), or a qualified affiliate of such bank or trust company, the Ontario Securities Commission (the “Commission”) makes the following order: Pursuant to the authority conferred on the Commission in paragraph 213(3)(b) of the Loan and Trust Corporations Act (Ontario), the Commission approves the proposal that the Applicant act as trustee of the Dorchester Opportunity Fund and any other future mutual fund trusts, which may be established and managed by the Applicant from time to

time, the securities of which will be offered pursuant to prospectus exemptions. Yours truly, “Judith Robertson” “Deborah Leckman”

Other Information

April 9, 2015

(2015), 38 OSCB 3592


April 9, 2015 (2015), 38 OSCB 3593

Index

Allen, Lorne Notice of Hearing and Statement of Allegations – ss. 127 and 127.1 ................................ 3315 Notice from the Office of the Secretary ..................... 3334 Alturas Minerals Corp Cease Trading Order ................................................ 3377 Angel Immigration Inc. Notice of Hearing and Statement of Allegations – ss. 127, 127.1 ........................................................ 3311 Notice from the Office of the Secretary ..................... 3333 Axton 2010 Finance Corp. Notice of Hearing and Statement of Allegations – ss. 127 and 127.1 .................................................. 3315 Notice from the Office of the Secretary ..................... 3334 Blackburn, Derek Amended Notice of Hearing – ss. 127 and 127.1 ...... 3322 Notice from the Office of the Secretary ..................... 3335 Blue Gold Holdings Ltd. Amended Notice of Hearing – ss. 127 and 127.1 ...... 3322 Notice from the Office of the Secretary ..................... 3335 Brookfield Residential Properties Inc. Decision .................................................................... 3345 Carpathian Gold Inc. Cease Trading Order ................................................ 3377 Cenith Air Inc. Notice of Hearing and Statement of Allegations – ss. 127, 127.1 ........................................................ 3311 Notice from the Office of the Secretary ..................... 3333 Cenith Energy Corporation Notice of Hearing and Statement of Allegations – ss. 127, 127.1 ........................................................ 3311 Notice from the Office of the Secretary ..................... 3333 Claret Asset Management Corporation Change in Registration Category .............................. 3589 Cline Mining Corporation Cease Trading Order ................................................ 3377 Companion Policy 41-101CP General Prospectus Requirements Rules and Policies .................................................... 3379 Companion Policy 51-102CP Continuous Disclosure Obligations Rules and Policies .................................................... 3379

CSA Staff Notice 43-309 – Review of Website Investor Presentations by Mining Issuers Notices ..................................................................... 3305 Deutsche Asset Management Canada Limited Voluntary Surrender ................................................. 3589 Dorchester Wealth Management Company Approval ................................................................... 3591 DTCC Data Repository (U.S.) LLC Decision – s. 42 of the OSC Rule 91-507 Trade Repositories and Derivatives Data Reporting ........... 3349 Furtak, Edward Notice of Hearing and Statement of Allegations – ss. 127 and 127.1 .................................................. 3315 Notice from the Office of the Secretary ..................... 3334 Future Solar Developments Inc. Notice of Hearing and Statement of Allegations – ss. 127, 127.1 ........................................................ 3311 Notice from the Office of the Secretary ..................... 3333 GMO Canada LLC New Registration ...................................................... 3589 Greening, Nigel Amended Notice of Hearing – ss. 127 and 127.1 ..... 3322 Notice from the Office of the Secretary ..................... 3335 Hariharan, Anand Notice from the Office of the Secretary ..................... 3333 Order – ss. 127(1) and 127.1 ................................... 3356 Settlement Agreement .............................................. 3373 Inspektor, Eric Notice of Hearing – ss. 127 and 127.1 ..................... 3321 Investment Financial Group Inc. Voluntary Surrender ................................................. 3589 Israel Chemicals Ltd. Decision .................................................................... 3351 Kurichh, Raj Amended Notice of Hearing – ss. 127 and 127.1 ..... 3322 Notice from the Office of the Secretary ..................... 3335 Lewis, Andre Notice of Hearing and Statement of Allegations – ss. 127(1) and 127(10) .......................................... 3329 Notice from the Office of the Secretary ..................... 3336 Magna Partners Ltd. Firm Name Change .................................................. 3589

Index

April 9, 2015 (2015), 38 OSCB 3594

Mak, Gordon Notice of Hearing and Statement of Allegations – ss. 127(1), 127(10) ................................................. 3324 Notice from the Office of the Secretary ..................... 3336 Metro Inc. Order – s. 104(2)(c) .................................................. 3360 Order – s. 104(2)(c) .................................................. 3364 Order – s. 104(2)(c) .................................................. 3368 Nagy, Miklos Notice from the Office of the Secretary ..................... 3337 Order ......................................................................... 3375 NeuroBioPharm Inc. Decision – s. 1(10)(a)(ii) ............................................ 3355 NI 41-101 General Prospectus Requirements Rules and Policies .................................................... 3379 NI 51-102 Continuous Disclosure Obligations Rules and Policies .................................................... 3379 NI 52-110 Audit Committees Rules and Policies .................................................... 3379 Northcore Resources Inc. Cease Trading Order ................................................ 3377 Olsthoorn, Ronald Notice of Hearing and Statement of Allegations – ss. 127 and 127.1 .................................................. 3315 Notice from the Office of the Secretary ..................... 3334 OSC Rule 13-502 Fees Notice (Ministerial Appoval) ...................................... 3310 OSC Rule 13-503 (Commodity Futures Act) Fees Notice (Ministerial Appoval) ...................................... 3310 OSC Staff Notice 11-739 (Revised) – Policy Reformulation Table of Concordance and List of New Instruments Notice ........................................................................ 3307 Probe Mines Limited Decision .................................................................... 3344 Qin, Sam Notice of Hearing and Statement of Allegations – ss. 127, 127.1 ........................................................ 3311 Notice from the Office of the Secretary ..................... 3333 Qin, Xundong Notice of Hearing and Statement of Allegations – ss. 127, 127.1 ........................................................ 3311 Notice from the Office of the Secretary ..................... 3333 Quadrexx Hedge Capital Management Ltd. Notice from the Office of the Secretary ..................... 3337 Order ......................................................................... 3375

Quadrexx Secured Assets Inc., Notice from the Office of the Secretary ..................... 3337 Order ........................................................................ 3375 Qwest Energy Financial Corp. Decision – 1(10)(a)(ii) ............................................... 3354 Reaney, Christopher Notice from the Office of the Secretary ..................... 3335 Decision – s. 8(4) ...................................................... 3358 Sanfelice, Tony Notice from the Office of the Secretary ..................... 3337 Order ........................................................................ 3375 Strict Trading Limited Notice of Hearing and Statement of Allegations – ss. 127 and 127.1 .................................................. 3315 Notice from the Office of the Secretary ..................... 3334 Strictrade Marketing Inc. Notice of Hearing and Statement of Allegations – ss. 127 and 127.1 .................................................. 3315 Notice from the Office of the Secretary ..................... 3334 SunOil Ltd. Cease Trading Order ................................................ 3377 Talawdekar, Satish Notice from the Office of the Secretary ..................... 3333 Order – ss. 127(1) and 127.1 ................................... 3356 Settlement Agreement .............................................. 3373 Trafalgar Associates Limited, Notice of Hearing and Statement of Allegations – ss. 127 and 127.1 .................................................. 3315 Notice from the Office of the Secretary ..................... 3334 Velocity Trade Capital Ltd. Firm Name Change .................................................. 3589 Vinci, S.A. Decision .................................................................... 3339

Date post:	15-Aug-2020
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OSC Bulletin · April 9, 2015 (2015), 38 OSCB 3305 Chapter 1 Notices / News Releases 1.1.1 CSA...

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