The TSX Venture Exchange has accepted for filing the documentation with respect to a brokered private placement announced on July 16, 2012.

Number of shares:  6,766,666 units

Purchase price:  75 cents per unit

Warrants:  3,383,333 warrants to purchase 3,383,333 common shares

Warrants exercise price:  $1 for 12 months

Number of placees:  Three placees

Agent's compensation:  Delano Capital Corp. received $355,249.97 in cash, as well as 473,666 broker warrants. Each broker warrant entitles the holder to purchase one common share at a price of 75 cents for 24 months.

Insider:  Fahad Tamimi, 500,000

The company has confirmed the closing of the private placement pursuant to a news release.