Notice of Ministerial Approval

NOTICE OF MINISTERIAL APPROVAL

NATIONAL INSTRUMENT 51-102 CONTINUOUS DISCLOSURE OBLIGATIONS, FORMS 51-102F1,

51-102F2, 51-102F3, 51-102F4, 51-102F5 AND 51-102F6

AND

RULE 51-801 IMPLEMENTING NATIONAL INSTRUMENT 51-102

CONTINUOUS DISCLOSURE OBLIGATIONS

AND

NATIONAL INSTRUMENT 71-102 CONTINUOUS DISCLOSURE AND OTHER

EXEMPTIONS RELATING TO FOREIGN ISSUERS

AND

RULE 71-802 IMPLEMENTING NATIONAL INSTRUMENT 71-102

CONTINUOUS DISCLOSURE AND OTHER EXEMPTIONS RELATING TO FOREIGN ISSUERS

AND

RELATED AMENDMENTS TO AND REVOCATION OF INSTRUMENTS

AND

ONTARIO REGULATIONS AMENDING REG. 1015 OF R.R.O. 1990

On February 16, 2004, the Minister of Finance approved, pursuant to subsection 143.3(3) of the Securities Act (Ontario), National Instrument 51-102 Continuous Disclosure Obligations, Rule 51-801 Implementing National Instrument 51-102 Continuous Disclosure Obligations, National Instrument 71-102 Continuous Disclosure and Other Exemptions Relating to Foreign Issuers and Rule 71-802 Implementing National Instrument 71-102 Continuous Disclosure and Other Exemptions Relating to Foreign Issuers (the Rules) and Forms 51-102F1, 51-102F2, 51-102F3, 51-102F4, 51-102F5 and 51-102F6 (the Forms).

The Rules, the Forms, and the related companion policies, Companion Policy 51-102CP to National Instrument 51-102 and Companion Policy 71-102CP to National Instrument 71-102 (the Policies) will come into force in Ontario on March 30, 2004.

The Rules, the Forms, and the Policies were previously published in a supplement to the OSC Bulletin on December 19, 2003. The Rules, the Forms and the Policies will be published in the April 2, 2004 OSC Bulletin.

Related amendments to and revocation of national and local instruments and Commission policies were published in a supplement to the December 19, 2003 OSC Bulletin. They will also be published in the April 2, 2004 OSC Bulletin, and will come into force on March 30, 2004.

On February 25, 2004, the Minister of Finance approved Ontario Regulations amending certain provisions of Regulation 1015 in order to effectively implement the Rules. These Regulations were filed as O. Reg 56/04 and O. Reg 57/04 on March 10, 2004 and are expected to be published in the Ontario Gazette on March 27, 2004.