NewGrowth Corp.
June 15, 2009
Attention: Mary Sum
Dear Ms. Sum
Re:
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NewGrowth Corp. (the "Issuer")
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Further to your correspondence of May 29, 200, as supplemented by your further correspondence of June 11, 2009 (collectively the request for consent correspondence), we understand that the Issuer has requested the consent of the Director of the Ontario Securities Commission to the release of the following shares from escrow:
T. Hugh McNabney
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1,000 Class B Shares
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This will confirm that, based upon the representations contained in the request for consent correspondence, the Director consents to the release of the above shares from escrow.
This letter does not constitute an exemption from the provisions of the Securities Act (Ontario) and regulations thereunder which may require a shareholder to have complied with certain terms and conditions prior to or after any sale of its shares.
If you have any questions or require anything further in connection with this matter, please contact Doug Welsh, Senior Legal Counsel, at (416) 593-8068 or [email protected].
Yours truly,