Tim K. Murray

Desjardins Securities, Inc. is the broker/dealer arm of the Desjardins Holding Financier, Inc., ultimately held by Le Mouvement des caisses Desjardins in Canada. Founded in 1991, the firm is headquartered in Montréal and has an additional office in Toronto. Desjardins Securities offers businesses and institutions with a complete range of securities brokerage products and services through its investment advisors and its Disnat Online Brokerage division. The firm is an approved participant on the Montreal Exchange and the Toronto Stock Exchange, as well as a participating member of the TSX Venture Exchange. In addition, Desjardins Securities is a member of both the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF).

Founded by Robert Jennings in 1993, Jennings Capital, Inc. is an independent full-service booker/dealer located in Toronto, Ontario with an additional office in Calgary, Alberta. The firm provides in-house research services covering a variety of sectors including: (1) oil and gas production and exploration companies (2) oil and gas service companies (3) electric power companies (4) base and precious metal companies (5) forest products (6) consumer and retail (7) industrial technology and (8) special situations. Their research coverage also includes other high-growth areas and companies as determined by the firm. Jennings Capital is a member of the CIPF and the IDAC. Jennings Capital is allied with Western Financial Group Inc. (TSX-WES), a large Western Canadian network based. Western Financial Group provides all forms of industrial, commercial, residential and car insurance, including disability and life insurance, through its wholly-owned subsidiary, Western Life. Western Financial Group also holds 100% ownership in their subsidiary, Bank West.

Founded in 1994, Salman Partners, Inc. is an independent, research-driven investment dealer serving institutional, corporate and individual clients. Their analysts provide coverage of companies in mining, oil and gas, forestry, coal, industrial products and services, consumer products, special situations, technology, healthcare and biotechnology. Salman Partners is headquartered in Vancouver with additional offices in Calgary and Toronto.

Northern Securities, Inc. is an independent investment bank headquartered in Toronto with additional offices in Calgary and Vancouver. They provide a full range of investment banking services including corporate finance, mergers and acquisitions, financial restructuring, retail and institutional distribution, equity research, online trading, online public offerings and online private placements. Northern Securities is a wholly-owned subsidiary of Northern Financial Corp. (TSX: NFC). They are a member of the CIPF and the IDA.

Founded in 1993, Octagon Capital Corp. is a full-service broker/dealer located in Toronto with additional offices in Calgary and Vancouver. The firm provides services to institutional investors, issuing companies and retail clients. Octagon Capital provides research, investment banking, institutional sales and trading and private client group services. Their research focuses on, but is not limited to, the mining and energy sectors