Generally, short sales are subject to the following ongoing margin requirements:

TSX eligible for reduced margin (IIROC) at $5 or greater: Long requirement 30% Short requirement 130%

TSX not eligible for reduced margin at $5 or greater: Long requirement 50% Short requirement 150%

US option eligible at $5 or greater: Long requirement 30% Short requirement 130%

US option not eligible at $5 or greater: Long requirement 50% Short requirement 150%

TSX, NYSE, NASDAQ, AMEX from $2.00 - $4.99: Long requirement 50% Short requirement 150%

All securities from $0.00 - $1.99: Long requirement 100% Short requirement not permitted

Venture, OTC, Pink Sheets, Bulletin Boards, COATES at $0.00 or greater: Long requirement 100% Short requirement not permitted

Please be advised that some exceptions do apply. Sales proceeds are included when margin amount is calculated.