Share Capital

• Class “A” Preference Shares – Priority 6% dividend of the Redemption Amount, Redeemable by Corporation at Redemption Price, Retractable by Corporation at Redemption Price, Redemption Price upon dissolution and no more, non-voting
• Class “B” Preference Shares – Discretionary dividend determined by directors, Redeemable by Corporation at Redemption Price, Retractable by Corporation at Redemption Price, Redemption Price upon dissolution and no more, non-voting
• Class “C” Preference Shares – Discretionary dividend determined by directors, Retractable by shareholder at Redemption Price, Redemption Price upon dissolution and no more, non-voting
• Common Shares – Discretionary dividend determined by directors, Remainder upon dissolution, voting

Priorities:

• Dividends – Class “A” Preference before all others
• Upon Dissolution – Class “A” Preference Shares (First), Class “B” Preference Shares (Second), Class “C” Preference Shares (Third), Common Shares (Fourth)

• Discretionary dividend
• Remainder upon dissolution
• Voting

Priorities: All classes of shares are equal in all respects

• Discretionary dividend
• Remainder upon dissolution
• Voting

Priorities: All classes of shares are equal in all respects

• Class A Preference – discretionary dividends, specific dollar amount upon dissolution, non-voting
• Class B Preference – discretionary dividends, specific dollar amount upon dissolution, non-voting
• Common Shares – discretionary dividends, remainder upon dissolution, voting

Priorities:

Dividends – Equal

Dissolution – the Class A Preference (First), Class B Preference (Second), Common (Third)

• Preference Shares – discretionary dividends, specific amount upon dissolution and no more, non-voting
• Common Shares – discretionary dividends, remainder upon dissolution, voting

Priorities:

Dividends – None

Dissolution – Preference Shares

• Preference Shares, Issuable in Series (provides for directors to determine the attributes for any classes of preference shares issued in series)
• Common Shares, subject to rights of Preference Shares, discretionary dividends, remainder upon dissolution, voting

Priorities

Dividends – Subject to rights of preference shares when determined

Dissolution – Subject to rights of preference shares when determined

Revenue Canada Agency fair market value adjustment clause

• Class A Common, Class B Common, Class C Common and Class D Common – equal in all respects, discretionary non-cumulative dividends determined by directors, subject to the rights of the Preference Shares upon dissolution and then the remainder, voting
• Class A Preference, Class B Preference, Class C Preference, Class D Preference – equal in all respects, dividends at percentage rate of the Redemption Amount on any class of preference shares to the exclusive of any other class, Redemption Amount upon dissolution and no more, redeemable at the option of the corporation at the Redemption Amount, retractable by the shareholder at the Redemption Amount, price adjustment clause, voting

Priorities

• All Classes of Common Shares Equal
• All Classes of Preference Shares Equal
• Dividends – No priority
• Dissolution – Preference Shares in priority to common shares