Coverage Initiated on 'One of the Most Undervalued Biotech Companies in Canada'

12/06/2017

Additional Disclosures:

Beacon Securities Ltd., Resverlogix Corp., Nov. 15, 2017

Does Beacon, or its affiliates or analysts collectively, beneficially own 1% or more of any class of the issuer's equity securities?  No

Does the analyst who prepared this research report have a position, either long or short, in any of the issuer’s securities? No

Does Beacon Securities beneficially own more than 1% of equity securities of the issuer? No

Has any director, partner, or officer of Beacon Securities, or the analyst involved in the preparation of the research report, received remuneration for any services provided to the securities issuer during the preceding 12 months? No

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Was the analyst who prepared this research report compensated from revenues generated solely by the Beacon Securities Investment Banking Department? No

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Analyst Certification: The Beacon Securities Analyst named on the report hereby certifies that the recommendations and/or opinions expressed herein accurately reflect such research analyst’s personal views about the company and securities that are the subject of the report; or any other companies mentioned in the report that are also covered by the named analyst. In addition, no part of the research analyst’s compensation is, or will be, directly or indirectly, related to the specific recommendations or views expressed by such research analyst in this report.