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Related Party Disclosure
James Tuer, a director of the Company, acquired 75,000 Units, and Jim Cambon, an officer of the Company, acquired 100,000 Units, pursuant to the final tranche of the Private Placement for gross proceeds of $33,750 and $45,000, respectively. As a result, their participation is considered a "related party transaction" under Multilateral Instrument 61-101 ("MI 61-101").
Related Party Disclosure
Flemming Knudsen (20,000 Units), Herb Wilson (70,000 Units), John McConnell (45,000 Units), John McDonald (30,000 Units) and Bob Shields , through Coal Island Ltd. (“Coal Island”), (11,111,112 Units) directors of the Company purchased a total of 11,276,112 Units for aggregate proceeds of $5,074,250.