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IMPORTANT NOTE
The SEDI system was developed for the CSA by CDS INC., a subsidiary of the Canadian Depository for Securities Limited, which also operates SEDAR.

For more information on SEDI visit the SEDI web site at www.sedi.ca or contact TNT Filings directly at info@tntfilings.com.

SEDI

The System for Electronic Disclosure by Insiders (SEDI) is the insider trade reporting system to be available over the internet at www.sedi.ca. SEDI requires insiders to file electronically their insider reports, and issuers to file electronically certain information, over the internet using the SEDI web site. The public will also be able to search for and look at public information filed on SEDI over the same web site.

As of June 9, insider trade reports to all Canadian securities jurisdictions will be made via SEDI, eliminating paper-based reporting systems for virtually all insider trades.

By filing through SEDI, an insider will satisfy the securities legislation of all CSA jurisdictions that have insider reporting requirements. Filing deadlines are harmonized in all jurisdictions, generally requiring all insiders to report trades within 10 days of the transaction.

Starting with reports due on or after June 9, 2003, all insiders of "SEDI Issuers" will be required to file their insider reports on SEDI. The information required to be filed electronically is substantially the same as the information currently filed on paper reports.

SEDI issuers will have a new obligation to file a report in SEDI one day after the occurrence of an "Issuer Event".

There are no service charges payable by insiders for filing in SEDI or by the public for accessing information filed in SEDI. All reporting issuers that are required to file through SEDAR are being notified of changes to SEDAR's annual filing service charges for the implementation of SEDI.

 
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