Dear Valued Client,

As part of our business development strategy, Becher McMahon Capital Markets (.BMCM.) has ceased operations as a Limited Market Dealer, and our team is pleased to announce that we will continue our business within the membership of the Investment Industry Regulatory Organization of Canada (.IIROC.). The main personnel from BMCM have created a capital markets division of Byron Securities Limited, an IIROC member Investment Dealer, and a participating organization of the TSX and the TSX Venture exchanges. This new division will be referred to as Byron Capital Markets and will focus on the core businesses of Investment Banking, Corporate Finance, Advisory, Institutional Sales and Trading. Byron Securities Limited has been in operation since 2002 and provides an excellent platform for us to perform these various services.

We are very excited about this change in our business strategy and the greater range of products and enhanced services we will be able to offer our various clients under an IIROC platform. The Limited Market Dealer structure did not allow us to provide the full range of services of an IIROC member firm such as trading, brokerage, prospectus and secondary offerings, initial public offerings, and bought deal issues. We felt that these restrictions were limiting the ongoing value proposition we could offer our clients, and have spent the past several months working towards a more all encompassing platform.

We look forward to speaking with you in the coming weeks to discuss these promising changes and developments to our firm, and to discuss how we may better serve your needs with the enhanced services we can now provide as representatives of an IIROC member Investment Dealer. We shall be in touch with our new contact information in the near future. Thank you kindly for your past and continued support.

Sincerely,

BECHER MCMAHON CAPITAL MARKETS INC.