The decrease resulted from a series of issuances of securities through private placements and the exercise of options and warrants. Over the same period, certain of the Entities exercised warrants to acquire 575,000 Class A common shares (the "Shares") of the Company, and acquired 504,950 Shares through private placement transactions (collectively, the "Transactions"). Immediately prior to the Transactions, Mr. Subin exercised control or direction over an aggregate of 2,422,000 Shares and 575,000 Shares purchase warrants representing approximately 20.05% of the issued and outstanding Shares on a partially diluted basis. Immediately after the Transactions, Mr. Subin exercised control or direction over an aggregate of 3,501,950 Shares, representing approximately 15.29% of the issued and outstanding Shares. This press release is being issued pursuant to section 5.2 of National Instrument 62-104 - Take-over Bids and Issuer Bids.