The closing price of the Common Shares published by Bloomberg for the scheduled trading day immediately prior to the Closing Date was Cdn.$0.09. Using Cdn.$0.09 as the Conversion Price, if Glencore were to convert the whole of the US$2,000,000 principal advanced under Facility A, Glencore could acquire up to 30,731,111 Common Shares, using a USD-to-CAD exchange rate of $1.3829, (which would represent 4.81% of the issued and outstanding Common Shares as of today) under the Convertible Facilities Agreement. The Conversion Price may be increased as described above, in which case, Glencore would receive fewer Common Shares which in turn would represent a smaller percentage of the whole. In addition if Tantalex borrows the full US$3,000,000 principal available under Facility B, the number of Common Shares that Glencore could acquire would be correspondingly increased.