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Disclaimer

Fifth Avenue Research Corporation ("Fifth Avenue"), its affiliates or partners provide services to the companies mentioned in this site (each a "Company"). Specifically each Company has entered into a commercial relationship with Fifth Avenue or our affiliates for capital market services and have paid fees for the preparation of the content on this site related to it. Any mention of a Company does not and will not constitute an offer to buy or sell securities in that Company. Fifth Avenue and/or its affiliates and/or their respective officers, directors or employees may have positions in, and may, from time-to-time make purchases or sales of the securities discussed or mentioned in this site.

Fifth Avenue is not registered with any financial or securities regulatory authority in Canada, and does not provide nor claims to provide investment advice or recommendations to any person. The information in this site is for informational purposes only. The information included in this site is not intended to be: (i) investment, tax, banking, accounting, legal, financial or other professional or expert advice of Fifth Avenue or its affiliates, or a recommendation, solicitation or offer by Fifth Avenue or its affiliates to buy or sell any securities, futures, options or other financial instruments, and such information should not be relied upon for such advice. Every person is advised to seek professional advice before acting or omitting to act on any information contained in this site.

The content of this site has been prepared without reference to any particular person's investment requirements or financial situation and is not tailored to the needs or circumstances of any person. Where reference is made to estimate of value or relative value of a specific company, there is no guarantee that these estimates are reliable or will materialize. The information in this site is designed to present the opinion of Fifth Avenue's analysts and what they believe to be the objective prospects of the highlighted company. Readers of this site are informed that the value of shares in a Company may go up or down. Past performance is not necessarily a guide to future performance. Readers of this site are advised to conduct their own due diligence before making any investment decisions.

Fifth Avenue does not make independent investigation or inquiry as to the accuracy and completeness of any information provided by a Company. Although the content has been obtained from sources believed to be reliable, the contents of this site could include technical or other inaccuracies or typographical errors and it is provided to you on an "as is" basis without warranties or representations of any kind. Fifth Avenue and its affiliates make no representation and disclaim all express and implied warranties and conditions of any kind, including without limitation, representations, warranties or conditions regarding accuracy, timeliness, completeness, non-infringement, satisfactory quality, merchantability, merchantable quality or fitness for any particular purpose or those arising by law, statute, usage of trade, or course of dealing. Fifth Avenue and its affiliates assume no responsibility to you or any third party for the consequences of any errors or omissions.

Information in this site is subject to change without notice. Fifth Avenue assumes no liability for any inaccurate, delayed or incomplete information, nor for any actions taken in reliance thereon. Fifth Avenune, its affiliates and their respective directors, officers, employees, or agents expressly disclaim any liability for losses or damages, whether direct, indirect, special, or consequential, or other consequences, howsoever caused, arising out of any use or reproduction of the contents of this site or any decision made or action taken in reliance upon the contents of this site, whether authorized or not. Each reader of this site releases Fifth Avenue, its affiliates and their respective officers, directors, agents and employees from all claims and proceedings for such losses, damages or consequences.

Information in this site regarding services and products of Fifth Avenue is applicable only in jurisdictions where such services and products may lawfully be offered for sale and is void where prohibited by law. If you access this site from outside of Canada, you are responsible for compliance with local, national and international laws. Not all products or services are available across Canada or in all countries. Descriptions of Fifth Avenue products and services in this site may include accompanying legal disclaimers, restrictions and disclosures of importance. You are deemed to have notice of them regardless of your use or down loading of only a part of this site.

World wide web sites accessed by hypertext links ("hyperlinks") appearing in this site have been independently developed by parties other than Fifth Avenue, and Fifth Avenue has no control over information in any hyperlinked site. Fifth Avenue is providing hyperlinks to users of this site only as a convenience. Fifth Avenue is not responsible for the quality, content or reliability of any information in any hyperlinked site. The inclusion of any hyperlink in this site should not be construed as an endorsement by Fifth Avenue of the information in such hyperlinked site and does not imply that Fifth Avenue has investigated, verified or monitored the information in any such hyperlinked site. The listing of an organization in this site should not be construed as an endorsement of its services or products. The display of trade marks in this site does not imply that a license of any kind has been granted. All service and product names are trademarks of their respective owners.

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This site may include forward-looking statements about objectives, strategies and expected financial results of companies featured in this site or where research reports are available on companies displayed and/or featured on this site. Such forward-looking statements are inherently subject to uncertainties beyond the control of such companies. The users of this site are cautioned that the company's actual performance could differ materially from such forward-looking statements.

United States Persons

Fifth Avenue is not registered as a securities broker-dealer or investment adviser with the U.S. Securities and Exchange Commission or any state securities regulatory authority or claim to provide financial advice to United States residents or offer to buy or sell securities to or on behalf of United States residents. Specifically, Fifth Avenue relies upon an exemption from the registration requirements under the Investment Advisers Act of 1940, as amended (the "Advisers Act") provided for in Section 202(a)(11)(D). This exemption is available for the publisher of any "bona fide financial publication of general and regular circulation." Fifth Avenue is not responsible for trades executed by subscribers to the services based on the information included in this site and any other publications from Fifth Avenue (collectively, the "Publications"). The Publications and the information contained therein do not represent individual investment advice or a recommendation to buy or sell securities or any financial instrument nor are they intended as an endorsement of any security or other investment. Furthermore, the Publications do not constitute an offer or solicitation to buy or sell any securities or individualized investment advice.

Except for the historical information presented herein, matters discussed in this sitecontain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including statements that are preceded by, followed by, or that include such words as "estimate," "anticipate," "believe," "plan", "intend", "expect", "may" or "should" or similar statements are forward-looking statements. Risks and uncertainties for the Company include, but are not limited to, the risks associated with the impact of general economic conditions in countries in which the Company conducts business, the impact of competitive products and pricing, product demand and market acceptance, new product development, the continuation and development of key customer and supplier relationships, and the availability of high quality, qualified personnel and management. Other risks include but are not limited to factors affecting development and expansion activities generally including access to capital to meet all of the Company's financial requirements, and their ability to control costs. There can be no assurance that the Company's efforts will succeed and the Company will ultimately achieve sustained commercial success. Fifth Avenue, its affiliates or the Company assume any obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although management of the Company may have advised Fifth Avenue that they believe that the plans, expectations, beliefs and intentions contained in the information provided to Fifth Avenue and reproduced in this site are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate.

The forward looking statements contained in this site have been prepared by management of the Company who believe and have so advised Fifth Avenue, without independent verification by Fifth Avenue, that a reasonable basis exists for making such statements.

Privacy Policy

At Fifth Avenue, your privacy is important to us. We are committed to protecting the privacy and security of the personal information of individuals with whom we interact, such as our customers, suppliers, neighbours, employees and contractors. This statement sets out our privacy practices with respect to the collection, use and disclosure of personal information by Fifth Avenue.

What is Personal Information?

Personal information is information that is personally identifiable to you. Personal information may include your name, e mail address and mailing address. Visitors of this site are not requested to reveal any personal information. However, on a voluntary basis, you may provide and disclose personal information to us in using certain features of our site, such as the Contact Us section. If you submit an e-mail inquiry to this site, any personal information you might submit at the same time will only be used by Fifth Avenue employees or its affiliates who need to have access to it in order to respond to your inquiry.

Collecting, Protecting and Using Information

When collecting personal information from individuals, we will explain how we intend to use it, we will collect only what we believe is reasonably necessary to meet those purposes, and we will not use or disclose it for other unrelated purposes, and we will not use or disclose it for other unrelated purposes without the person's consent, except in the limited circumstances prescribed by law.

Upon inquiry, we will explain the options for, and consequences of, withholding or withdrawing consent, and will record and respect an individual's choices. Fifth Avenue may also collect from another party, such as a service provider or other organization, personal information from or about an individual, if the individual has provided his or her consent to the other party, allowing Fifth Avenue to collect and use the individual's personal information.

Your personal information is treated as private, confidential information by Fifth Avenue and we strive to ensure that your personal information is protected at all times. To maintain the confidentiality of your personal information, this information is kept in a secure environment by Fifth Avenue.

However, even though Fifth Avenue has implemented methods designed to ensure the protection of your personal information that are considered to be effective, we cannot guarantee that such information will not be lost, used unlawfully or modified in a fraudulent manner since no data transmission over the Internet can be guaranteed to be completely confidential. Consequently, we bear no liability for the use that may be made of the information by you or any third party.

Sharing Information

Fifth Avenue will never disclose, sell or lease to any third party other than our affiliates, either free of charge or for remuneration, any personal information that you provide on this site without your permission, unless we are required to do so by law.

We may provide an individual's personal information to other parties:

• where we have the individual's consent
• where required or permitted to by law, or
• where the other parties are acting as our agent or as a service provider and have agreed to handle the information in accordance with this policy, or
• where business mergers, divestments or acquisitions are involved.

We may collect personal information about an individual from other parties:

• where we have the individual's consent
• where required or permitted by law
• where the other parties are acting as our agent or service provider and have agreed to handle the information in accordance with this policy
• where business mergers, divestments or acquisitions are involved, or
• where the other party has obtained the individual's consent.

Retaining Information

Your personal information will be destroyed when it is no longer required for the purposes for which it was initially collected or in accordance with other statutory requirements.

Access to Information

Individuals may request access to the information that Fifth Avenue has about them, may discuss Fifth Avenue's business practices regarding the use of the information, and may address concerns about how Fifth Avenue handles personal information by contacting Fifth Avenue using the information provided below at the end of this privacy statement. If you have previously provided us with personal information and wish to verify it or have the information removed from our records or corrected, please contact Fifth Avenue.

Privacy While Using Fifth Avenue's Internet site

In some cases, for technical evaluation and statistical purposes, we collect information about you that is not personal information. Examples of such information include the type of Internet browser you are using, the type of computer operating system you are using and the domain name of the site and/or Internet Service Provider through which you are linked to this site. Such visitor data may be used to improve the content of this site and to help us determine which features and services are most important to its visitors.

This is done through the use of standard technology called cookies. Cookies are small data files that are downloaded and stored on your computer when you visit a particular site. By assigning a unique data element to each visitor, the site is then able to recognize repeat users, track usage patterns and better serve them when you go to a site. You may choose to disable cookies by turning them off in your browser. Consult your browser's documentation to learn how to do this.

Modification to Privacy Statement

Fifth Avenue reserves the right to change this privacy statement as it sees fit and without prior notice. However, we will ensure that any change to this statement is in compliance with the laws in effect in British Columbia and Canada with regard to this subject matter and posted on this page.

How to Contact Us

If you have any concerns relating to the privacy or confidentiality of this site, please contact Fifth Avenue at info@fifthavenueresearch.com.

 
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