Dundee Private Equity
Website User Agreement

Your Acceptance of this Agreement
This is an Agreement between you and Dundee Private Equity Ltd. ("Dundee"), and governs your use of the Dundee Website and its content (collectively the "Website"). Each time you use the Website you signify your acceptance and agreement, and the acceptance and agreement of any person you purport to represent (and for purposes of this Agreement, "person" includes natural persons and any type of incorporated or unincorporated entity), without limitation or qualification, to be bound by this Agreement, and you represent and warrant that you have the legal authority to agree to and accept this Agreement on behalf of yourself and any person you purport to represent.

Products and Services of Dundee
All products and services of Dundee are offered for sale subject to the terms of the applicable agreements governing their use. Please consult us for complete and up-to-date information on products and services. The information on this Website is intended for use solely by persons resident in jurisdictions where Dundee operates. These products and services are available in Canada and only in those other jurisdictions where they may be legally offered. This Website does not constitute an offer or solicitation to anyone in any jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such a solicitation.

No Solicitation
Nothing on this Website constitutes a solicitation or offer by Dundee to buy or sell products or services of any kind whatsoever including without limitation securities or any other financial instrument of any issuer.

No Advice
The Website is for convenience and informational purposes only. The Website is not intended to be a comprehensive or detailed statement concerning the matters addressed; financial or any other kind of advice; or an offer to sell or buy any product or service. You should seek appropriate, qualified professional advice before acting or omitting to act based upon any information provided on or though the Website.

The Website may not be used to request investment advice or to transmit to Dundee any confidential information. Information transmitted to Dundee through the Website may not be secure, may not be treated as confidential and does not create any relationship or duty of any kind. You should not send confidential or sensitive information by the Internet or e-mail unless you take appropriate precautions, such as the use of encryption.

Permitted Users and Access
The Website may not be used by persons in jurisdictions where access to or use of the Website or any part of it may be illegal or prohibited.

Disclaimer and Liability Exclusion
Dundee DOES NOT ACCEPT ANY LIABILITY FOR YOUR USE OF THE Website. YOUR USE OF THE Website IS AT YOUR OWN RISK. THE Website IS PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS, WITHOUT ANY REPRESENTATIONS, WARRANTIES OR CONDITIONS OF ANY KIND, WHETHER EXPRESS OR IMPLIED, AND INCLUDING WITHOUT LIMITATION IMPLIED REPRESENTATIONS, WARRANTIES OR CONDITIONS OF TITLE, NON-INFRINGEMENT, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, PERFORMANCE, DURABILITY, AVAILABILITY, TIMELINESS, ACCURACY, OR COMPLETENESS, ALL OF WHICH ARE HEREBY DISCLAIMED BY Dundee TO THE FULLEST EXTENT PERMITTED BY LAW. Dundee WILL NOT UNDER ANY CIRCUMSTANCES BE LIABLE TO YOU OR ANY OTHER PERSON FOR ANY LOSS OR DAMAGE ARISING FROM, CONNECTED WITH, OR RELATING TO THE USE OF THE Website BY YOU OR ANY OTHER PERSON.

Personal Information Privacy
Dundee collects, uses and discloses your personal information in accordance with the Dundee Corporation Website and Electronic Communications Privacy Policy. By accepting this Agreement, and each time you use the Website, you consent to Dundee's collection, use and disclosure of your personal information in accordance with the Policy as it then reads without any further notice or any liability to you or any other person.

Ownership and Permitted Use of the Website
The Website, including all of its content, is the property of Dundee and others, and is protected by Canadian and international copyright, trademark, and other laws. Your use of the Website does not transfer to you any ownership or other rights in the Website or its content.

The Website is made available to you for your lawful, personal, non-commercial use only. You may print or download Website pages for your personal, non-commercial use provided that you do not modify any of the Website pages or other content and you do not remove or alter any visible or non-visible identification, marks, notices, or disclaimers. You may not use the Website or its content for any other purpose or in any other way. In particular, the Website and its content may not be copied, imitated, reproduced, republished, uploaded, posted, transmitted, modified, indexed, catalogued, mirrored or distributed in any way, in whole or in part, without the express prior written consent of Dundee.

Trademark Information
Dundee Private Equity Ltd., Dundee™, and Dundee Global Investment Management™ are trademarks, tradenames and servicemarks owned by Dundee Corporation, used under license. Other product and company names and logos appearing on the Website may be registered or unregistered tradenames, trademarks and servicemarks of their respective owners. Any use of the tradenames, trademarks, servicemarks and logos displayed on the Website (collectively "Marks"), except as expressly provided in this Agreement, is strictly prohibited. Nothing appearing on the Website or elsewhere shall be construed as granting, by implication, estoppel, or otherwise, any licence or right to use any Marks.

Hyperlinks Are Not Endorsements
Links to other websites or references to products, services or publications other than those of Dundee on this Website do not imply the endorsement or approval of such websites, products, services or publications by Dundee. Dundee makes no representations whatsoever about any other website which you may access through this one and accepts no responsibility whatsoever for such websites or their content. When you access a non-Dundee website, please understand that it is independent from us, and that Dundee has no control over the content on that website. Non-Dundee websites are not subject to the Dundee Corporation Website and Electronic Communications Privacy Policy or security standards.

Material to be Consulted in its Entirety
All materials at this Website are meant to be reviewed in their entirety, including any footnotes, legal disclaimers, restrictions or disclosures, and any copyright or proprietary notices. Any disclaimers, restrictions, disclosure or hedge clauses apply to any partial document or material in the same manner as they do the whole, and will be deemed incorporated in the portion of any material or document that you consult or download.

Forward-Looking Statements
From time to time, we make written or oral forward-looking statements within the meaning of certain securities laws, including in this Website, in filings with Canadian securities regulators and in other communications. These statements include, but are not limited to, statements we make about our operations, business lines, financial condition, risk management, priorities, targets, ongoing objectives, strategies and outlook. Forward-looking statements are typically identified by the words 'believe,’, 'expect,’, 'anticipate,’, 'intend,’, 'estimate' and other similar expressions or future or conditional verbs such as 'will,’, 'should,’, 'would' and 'could.’ By their nature, these statements require us to make assumptions and are subject to inherent risks and uncertainties that may be general or specific. A variety of factors, many of which are beyond our control affect our operations, performance and results and those of our business lines, and could cause actual results to differ materially from the expectations expressed in any of our forward-looking statements. Readers should not place undue reliance on our forward-looking statements. We do not undertake to update any forward-looking statement that is contained in this Website or in other communications.

Internet Communications
PLEASE BE ADVISED THAT TRADING INSTRUCTIONS SHOULD NOT BE COMMUNICATED VIA E-MAIL, AND IF RECEIVED WILL NOT BE ACTED UPON. Without the use of secure encryption, the Internet is not a secure medium and privacy cannot be ensured. Internet e-mail is vulnerable to interception and forging. Dundee cannot ensure the privacy and authenticity of any information, and will not accept any instructions, that you send to us over the Internet. will not be responsible for any damages you may incur if you communicate confidential information to us over the Internet or if we communicate such information to you at your request.

No Framing, Mirroring, Scraping, Data-Mining and Postings
You may provide a link (but not a framed link) to this site from any other Website, but not (save with our prior written agreement) in any way which creates the impression that we are associated with or have approved such other site. If you choose to link to our site, you must acknowledge the source (a clearly-visible adjacent link to www.dundeeprivateequity.com is sufficient attribution).

Apart from this, you may not reproduce or store any part of this site on any other Website without our prior consent.

Termination of this Agreement and the Website
If you breach any provision of this Agreement, you may no longer use the Website. Dundee may, at any time and for any reason and in its sole discretion, change, suspend or terminate, temporarily or permanently, the Website or any part of it, or your permission to use the Website, without any prior notice or liability to you or any other person. If this Agreement or your permission to use the Website is terminated by you or Dundee for any reason, then: (a) this Agreement will nevertheless continue to apply and be binding upon you in respect of your prior use of the Website; and (b) Dundee may continue to use and disclose your personal information in accordance with the Dundee Corporation Website and Electronic Communications Privacy Policy as amended from time to time. Sections 4, 5, 6, 7, 8, 9, 10, 11, and 13 survive indefinitely after the termination of this Agreement.

Governing Law and Dispute Resolution
This Agreement, your use of the Website, and all related matters are governed solely by the laws of the Province of Ontario, Canada and applicable federal laws of Canada, excluding any rules of private international law or the conflict of laws which would lead to the application of any other laws. Any dispute between Dundee and you or any other person arising from, connected with or relating to the Website, this Agreement or any related matters must be resolved before the Courts of the Province of Ontario sitting in the City of Toronto, and you hereby irrevocably submit and attorn to the original and exclusive jurisdiction of those Courts in respect of any such dispute or matter. Any claim or cause of action you may have arising from, connected with, or relating to your use of the Website, this Agreement, or any related matters must be commenced in a court of competent jurisdiction in the Province of Ontario within six (6) months after the claim or cause of action arises, after which time the claim or cause of action is forever barred.

Changes to this Agreement
Dundee may, in its sole discretion, change, supplement or amend this Agreement as it relates to your future use of the Website from time to time, for any reason, and without any prior notice or liability to you or any other person. You may not change, supplement, or amend this Agreement in any manner.

Other Matters
This Agreement, including any changes made to this Agreement from time to time, constitutes the entire agreement between you and Dundee relating to your use of the Website, and supersedes all previous agreements, written, oral or otherwise, between you and Dundee with respect to your use of the Website.

If any provision of this Agreement is found to be unlawful, void, or for any reason unenforceable, then that provision shall be deemed to be severed from the rest of this Agreement and shall not affect the validity and enforceability of any remaining provisions.

The provisions of this Agreement will enure to the benefit of and be binding upon each of Dundee and its successors and assigns and related persons, and you and your heirs, executors, administrators, successors, permitted assigns, and personal representatives. You may not assign this Agreement or your rights and obligations under this Agreement without the express prior written consent of Dundee which may be withheld in Dundee's sole discretion. Dundee may assign this Agreement and its rights and obligations under this Agreement without your consent.

No consent or waiver by either party to or of any breach or default by the other party in its performance of its obligations under this Agreement will be deemed or construed to be a consent to or waiver of a continuing breach or default or any other breach or default of those or any other obligations of that party. No consent or waiver will be effective unless in writing and signed by both parties.

The parties have expressly requested and required that this Agreement and all other related documents be drawn up in the English language. Les parties conviennent et exigent expressement que ce Contrat et tous les documents qui s'y rapportent soient rediges en anglais.

DUNDEE CORPORATION WEBSITE AND ELECTRONIC COMMUNICATIONS PRIVACY POLICY
Protecting your privacy is important to Dundee Corporation ("Dundee"). This Policy explains how Dundee collects, uses, and discloses the personal information you may provide while using Dundee's Website (the "Website") and in its Electronic Publications, newsletter, and announcements ("Electronic Communications"). Any personal information you provide to us through the Website will be treated with care, and subject to this Policy will not be used or disclosed in ways to which you have not consented.

By using the Website, you signify your consent to the collection, use, and disclosure of your personal information in accordance with this Policy. If you do not agree with this Policy, you may not use the Website.

Information Automatically Collected

Non-Identifiable Information — Like many other websites, the Website may automatically collect certain non-identifiable information regarding Website users, such as the Internet Protocol (IP) address of your computer, the IP address of your Internet Service Provider, the date and time you access the Website, the Internet address of the Website from which you linked directly to the Website, the operating system you are using, the sections of the Website you visit, the Website pages read and images viewed, and the materials you post to or download from the Website. This non-identifiable information is used for Website and system administration purposes and to improve the Website. Your non-identifiable information may be disclosed to others and permanently archived for future use.

Cookies — The Website may use "cookies", a technology that installs information on a Website user's computer to permit the Website to recognize future visits using that computer. Cookies enhance the convenience and use of the Website. You may choose to decline cookies if your browser permits, but doing so may affect your use of the Website and your ability to access certain features of the Website.

Personal Information You Specifically Provide to the Website

Your Personal Information — During your use of the Website, you may be asked to voluntarily provide certain personal information (such as your name, email address, postal address, and telephone number) for purposes such as facilitating communications with you or for applying for access to certain special features or areas of the Website.

Use of Your Personal Information — Dundee may use your personal information to contact and correspond with you, to respond to your inquiries, and as otherwise permitted by law. Generally, Dundee will consider the fact that you have voluntarily visited the Website and have provided Dundee with contact information to signify your consent for Dundee to use your contact Information for purposes of tracking our communications with you and providing you with information such as Electronic Communications relating to our Firm and our practice which we think may be of interest or use to you.

Emails from Dundee — If you provide your email address, Dundee may send to you, from time to time, email containing information about Dundee and other matters it believes will interest you. At any time you may ask Dundee to stop sending you email and other information by contacting info@dundeecorporation.com.

Tracking Information — In addition, Dundee may use non-personal information to create aggregate tracking information reports regarding Website user demographics and Website traffic patterns. None of the tracking information in the reports can be connected to the identities or other personal information of individual users. Dundee also may link tracking information with Website users' personal information. Once such a link is made, all of the linked information is treated as personal information and will be used and disclosed only in accordance with this Policy, and in accordance with the law.

Disclosure of Your Personal Information — Dundee may disclose your personal information to a government institution that has asserted its lawful authority to obtain the information or where Dundee has reasonable grounds to believe the information could be useful in the investigation of unlawful activity, or to comply with a subpoena or warrant or an order made by a court, person or body with jurisdiction to compel the production of information, or to comply with court rules regarding the production of records and information, or to protect Dundee's rights and property. If Dundee is involved in a merger or other reorganization, Dundee may disclose your personal information to the resulting organization.

Storing and Securing Your Information — Dundee may store and process your personal information in Montreal, Quebec, Canada and at Dundee's various offices in Canada. To help protect the confidentiality of your personal information, Dundee employs security safeguards appropriate to the sensitivity of the information. Nevertheless, due to the nature of the Internet and Internet technologies, security and privacy risks cannot be eliminated and Dundee cannot guarantee that your personal information will not be disclosed in ways not otherwise described in this Policy.

Accessing Your Personal Information — You may request access to your personal information and information about Dundee's collection, use and disclosure of that information by contacting Dundee at info@dundeecorporation.com.. Dundee has a number of Privacy Officers who are responsible for the protection of personal information and compliance with privacy-related legislation in various jurisdictions. Your enquiries will be forwarded to the appropriate Privacy Officer when it is received. Subject to certain exceptions prescribed by law, you will be given reasonable access to your personal information, and will be entitled to challenge the accuracy and completeness of the information and to have it amended as appropriate. You can help Dundee maintain the accuracy of your information by notifying Dundee of any changes to your personal information.

Withdrawal of Consent — In some jurisdictions, you may withdraw your consent to the use and intention of personal information about you. To do this, please contact our Privacy Officers info@dundeecorporation.com. as noted above. Additionally, we routinely provide "opt out" or "unsubscribe" instructions on our Electronic Communications to provide for removal of your name from future transmissions.

Other Matters

Other Websites — The Website may contain links to other Websites or Internet resources. When you click on one of those links you are contacting another Website or Internet resource that may collect information about you voluntarily or through cookies or other technologies. Dundee has no responsibility or liability for or control over those other Websites or Internet resources or their collection, use and disclosure of your personal information.

Website Use Agreement — The Website Use Agreement governing your use of the Website contains important provisions disclaiming and excluding the liability of Dundee and others regarding your use of the Website and provisions determining the applicable law and exclusive jurisdiction for the resolution of any disputes regarding your use of the Website. Each of those provisions also applies to any disputes that may arise in relation to this Policy and the collection, use and disclosure of your personal information, and are of the same force and effect as if they had been reproduced directly in this Policy.

Former Users — If you stop using the Website or your permission to use the Website is terminated by Dundee, Dundee may continue to use and disclose your personal information in accordance with this Policy as amended from time to time, and subject to compliance with the law.

Privacy Policy Changes — This Policy may be changed by Dundee from time to time in Dundee's sole discretion and without any prior notice or liability to you or any other person. The collection, use and disclosure of your personal information by Dundee will be governed by the version of this Policy in effect at that time. New versions of this Policy will be posted here. Your continued use of the Website and receipt or request of any Electronic Communication subsequent to any changes to this Policy will signify that you consent to the collection, use and disclosure of your personal information in accordance with the changed Policy. Accordingly, when you use the Website or receive or request any Electronic Communication, you should check the date of this Policy and review any changes since the last version. You should also bookmark this page and periodically review this Policy to ensure that you are familiar with the most current version.

Electronic Communications — Generally, Electronic Communications are not to be construed as legal advice. Delivering of the same will not instantiate or begin any relationship between Dundee and the recipient as Solicitor and Client. Electronic Communications are meant to provide access to information and knowledge of interest generally, and not with respect to your particular facts or circumstances. If an Electronic Communication raises any point of interest, please feel free to contact one of our professionals to arrange for a consultation.

Your Comments — If you have any comments or questions about this Policy or your personal information, please contact Dundee at info@dundeecorporation.com.