Distribution of Cash and the Dissolution
Subject to adoption of the Dissolution Resolution, the Board anticipates that as soon as practicable after the Completion,
the Shareholders will receive between $0.165 and $0.171 in cash per Share, based upon 183,331,495 Shares issued and
outstanding, which amount will be paid in one instalment. The amount of the payment shall be determined by the Board
after repaying the Corporation's debts and other obligations and reviewing potential tax and other liabilities of the
Corporation, including estimated liabilities as at April 30, 2013 ($1,042,512) and the costs associated with the Sale
Transaction and the Dissolution (which are currently estimated to be between $1,438,800 and $2,383,260). Although
management of the Corporation believes that the estimates of the liabilities set forth herein are reasonable based on
information currently available to the Corporation, the actual amounts of such liabilities and resulting net proceeds may
differ from the estimates presented above, thereby affecting the amount of cash available to be distributed to Shareholders.
The Board is not currently aware of any material items that could give rise to unforeseen tax liabilities or other liabilities
or costs which would materially reduce the amount of cash available for distribution to Shareholders, but there is no
assurance that this will remain the case.
The anticipated amount of cash to be distributed to Shareholders upon completion of the Sale Transaction was calculated
using the following estimates of: (i) the proceeds from the Sale Transaction; and (ii) all of the liabilities of the Corporation
that must be satisfied prior to the completion of the Dissolution: