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Director/PDMR Shareholding

9th Nov 2012 14:40

NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARING

MANAGERIAL RESPONSIBILITY AND CONNECTED PERSONS

Annex DTR3

1. Name of the issuer 2. State

whether the notification relates to (i) a

transaction notified in accordance with DTR 3.1.2 R,

(ii) a

disclosure made in accordance with LR 9.8.6R(1)

or (iii)

a disclosure made in accordance with section

793 of the Companies Act (2006). DTR 3.1.2 R CANACCORD FINANCIAL INC.3. Name of person discharging managerial 4. State

whether notification relates to a person

responsibilities/director connected

with a person discharging managerial

responsibilities/director named in 3 and identify the

connected person STEANE CONSULTING LIMITED MICHAEL D. HARRIS

5. Indicate whether the notification is in respect of a 6. Description of shares (including class), debentures or

holding of the person referred to in 3 or 4 above or derivatives or financial instruments relating to

in respect of a non-beneficial interest shares NOTIFICATION RELATES TO THE PERSONS NAMED IN 4. COMMON

SHARES

7. Name of registered shareholders(s) and, if more than 8 State the nature of the transaction

one, the number of shares held by each of them

MICHAEL D. HARRIS: 62,200

PURCHASES

IN OPEN MARKET

9. Number of shares, debentures or financial instruments 10. Percentage of issued class acquired (treasury shares

relating to shares acquired of that

class should not be taken into account when

calculating percentage) 0.001%

1,000 COMMON SHARES 11. Number of shares, debentures or financial instruments 12. Percentage of issued class disposed (treasury shares

relating to shares disposed of that

class should not be taken into account when

calculating percentage) N/A N/A

13. Price per share or value of transaction 14. Date and

place of transaction $5.03 CANADIAN NOVEMBER 8, 2012 VANCOUVER, CANADA

15. Total holding following notification and total 16. Date issuer informed of transaction

percentage holding following notification (any

treasury shares should not be taken into account when

calculating percentage)

NOVEMBER

8, 2012

MICHAEL HARRIS: 63,200/0.06% THE FIGURE ABOVE INCLUDES SHAREHOLDINGS OWNED BY MR. HARRIS' CONNECTED PERSONS

If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes

17 Date of grant 18. Period during which or date on which exercisable

19. Total amount paid (if any) for 20. Description of shares or

grant of the option debentures involved (class and number)

21. Exercise price (if fixed at 22. Total number of shares or

time of grant) or indication debentures over which options

that price is to be fixed at held following notification

the time of exercise

23. Any additional information 24. Name of contact and telephone

number for queries NONE MARTIN MacLACHLAN 1-416-867-6078

Name of authorised official of issuer responsible for making notification

MARTIN MacLACHLAN, GENERAL COUNSEL AND CORPORATE SECRETARY

Date of Notification NOVEMBER 9, 2012

Notes: This form is intended for use by an issuer to make a RIS notification required by DTR 3.1.4.

(1) An issuer making a notification in respect of a transaction relating to the shares or debentures of the issuer should complete boxes 1 to 16, 23 and 24.

(2) An issuer making a notification in respect of a derivative relating the shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 16, 23 and 24.

(3) An issuer making a notification in respect of options granted to a director/person discharging managerial responsibilities should complete boxes 1 to 3 and 17 to 24.

(4) An issuer making a notification in respect of a financial instrument relating to the shares of the issuer (other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.

XLON

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