Prior to the completion of the Private Placement, Mr. Sprott, through 2176423 Ontario Ltd., beneficially owns and exercises control over 30,984,979 Common Shares and 24,638,548 Common Share purchase warrants, representing approximately 17.6% of the issued and outstanding Common Shares on a non-diluted basis and approximately 27.8% on a partially diluted basis, assuming the exercise of such warrants.