Pursuant to the closing of the Offering, J. David Clements, a director of the Company, subscribed for 1,470,958 Common Shares indirectly through his wholly owned company Dack Resources Ltd., for a subscription of $176,515, which brings his total ownership of, and control or direction over, the Common Shares to 1,720,644 Common Shares (comprised of 7,637 Common Shares held directly, 1,470,958 Common Shares held indirectly and 242,049 Common Shares over which he exercises control or direction), representing 17.91%; John Niedermaier, a director of the Company, subscribed for 1,000,000 Common Shares directly, for a subscription of $120,000, which brings his total ownership of the Common Shares to 1,225,106 (comprised of 1,123,356 Common Shares held directly and 101,750 Common Shares held indirectly), representing 12.75%; Archie Nesbitt, a director and officer of the Company, subscribed for 733,333 Common Shares directly, for a subscription of $88,000, which brings his total ownership of the Common Shares to 1,086,997 Common Shares (comprised of 925,853 Common Shares held directly and 161,144 Common Shares held indirectly), representing 11.31%; and John McIntyre, an officer of the Company, subscribed for 500,000 Common Shares directly, for a subscription of $60,000, which brings his total ownership of the Common Shares to 559,845 Common Shares, representing 5.83%.