Bonterra/Spartan -- summary under Share-for-Share

Overview

TSX-listed Bonterra is to acquire each outstanding share of TSX-listed Spartan in exchange for 0.1169 common shares of Bonterra under an Alberta Plan of Arrangement, resulting in the former Spartan shareholders holding approximately 35% of Bonterra. This was considered by the Spartan board to be a superior proposal to that under an arrangement agreement with Pinecrest Energy Inc., resulting in a break fee of $12.5M being paid to Pinecrest.

US Silver/RX Gold -- summary under New Holdco

A combination of U.S. Silver (TSX, US OTCQX and Fankfurt) and RX Gold (TSX-V) pursuant to a Combination Agreement originally dated June 7, 2012 is to be effected by (1) each outstanding common share of U.S. Silver being exchanged pursuant to a CBCA plan of arrangement for 0.67 of a common share of a newly-incorporated OBCA holding company (U.S. Silver & Gold Inc., or "Combined Company"), and (2) each outstanding common share of RX Gold being exchanged (at the same time as (a)) pursuant to an Ontario plan of arrangement for 0.109 of a common share of Combined Company.

CGA/B2Gold -- summary under Other

Overview

TSX-listed B2Gold will acquire all the shares of ASX-listed CGA under an Australian Scheme of Arrangement. Accordingly, CGA will become a wholly-owned subsidiary of B2Gold. The Scheme of Arrangement values the equity of CGA at approximately Cdn.$1.1 billion, representing approximately a 26% premium.

Tekmira/OnCore -- summary under Delaware Mergers

Overview

OnCore, a private Delaware company with a controlling Bermuda sharehholder, will be merged into a Delaware subsidiary of Tekmira, a BC public company, with OnCore shareholders receiving Tekmira common shares on the merger. Post-merger the OnCore shareholders will hold an estimated 51.7% of the common shares Tekmira – or 50% on a fully diluted basis. (i.e., taking into account the in-the-money value of Tekmira options). Although the Code s. 7874 inversion rules should not apply, the Code s. 382 ownership change rules may restrict the use of Tekmira's NOLs.

Franchise Services/Hertz -- summary under Continuance and Merger

Overview

In order to merge the car rental business of Adreca, a private Delaware corporation, with the car rental business of FSNA, a TSXV-listed CBCA corporation, Adreca will be merged into a subsidiary of FSNA with Adreca as the survivor, and FSNA, following its continuance from Canada to Delaware ("New FSNA"), will then be merged with Adreca, with New FSNA as the survivor.

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