A ranking of

STRONG

PERFORMERS on TSX Venture Exchange

The 2013 TSX Venture 50:

Following the official announcement of the 2013 TSX Venture 50, a selection

of Canada’s professional investment community was polled by TMX Equicom

for their choice of the “Pick of the Street” in each sector.

Here are their top picks:

Clean Technology: EnWave Corporation TSXV: ENW

Diversified Industries: Mosaic Capital Corporation TSXV: M

Northwest International Healthcare Properties REIT TSXV: MOB.UN

Mining: Athabasca Minerals Inc. TSXV: ABM

Oil & Gas: Manitok Energy Inc. TSXV: MEI

Technology & Life Sciences: Amaya Gaming Group Inc. TSXV: AYA

The Pick of the Street

TSX Venture Exchange operates a platform that provides emerging companies with the opportunity to access the capital they need to meet their growth objectives. We are pleased to present the latest group of companies that have excelled in their sectors.

— John McCoach, President, TSX Venture Exchange

The 2013 TSX Venture 50 is a ranking of top performers on TSX Venture Exchange spanning Clean Technology, Diversified Industries, Mining, Oil & Gas and Technology & Life Sciences.

These emerging companies have shown strong results in key measures of market performance. The ranking is comprised of 10 companies from each of five industry sectors and they were selected based on four equally weighted criteria: market capitalization growth, share price appreciation, trading volume and analyst coverage.

The top ranked companies in each sector:

Clean Technology: OPEL Technologies Inc. TSXV: OPL

Diversified Industries: Loyalist Group Limited TSXV: LOY

Mining: Zenyatta Ventures Ltd. TSXV: ZEN

Oil & Gas: Africa Oil Corp. TSXV: AOI

Technology & Life Sciences: iCo Therapeutics Inc. TSXV: ICO

The Top Performers This year’s top company overall is Africa Oil Corp. (TSXV: AOI) a Vancouver-based oil & gas exploration company.

Ranking MethodThe 2,258 companies listed on TSX Venture Exchange as of December 31, 2012, were screened through the following filters to determine which companies would qualify as potential 2013 TSX Venture 50 candidates: listed on TSX Venture Exchange more than one year as of December 31, 2012; listed on TSX Venture Exchange on December 31, 2012; market capitalization greater than C$5 million on December 31, 2012; closing share price greater than C$0.25 on December 31, 2012 and share price of at least C$0.10 on December 31, 2011.

The qualified companies were ranked based on an equally weighted (25%) formula with four criteria:

1. Share Price: 1-year share price change as of December 31, 2012

2. Trading: 1-year trading volume as of December 31, 2012

3. Market Capitalization: [(issued-escrow shares) x price] change as of December 31, 2012

4. Analyst Coverage: Number of analysts covering the companies as of December 31, 2012

Historical share prices have been adjusted for dividends and/or stock consolidations. All currencies reported in Canadian dollars. TSX Venture Exchange considered companies’ compliance with Exchange requirements and exercises discretion when determining qualified candidates.

Data SourcesShare Prices, Market Capitalization and Trading Volumes: TSX and TSXV Market Intelligence Group

Analyst Coverage: Capital IQ

Dividends: Capital IQ

All data current as of December 31, 2012.

† OPEL Technologies Inc. completed a solar asset sale in late 2012 and is now a technology company.

253 companies listed

$6.0 billion market capitalization

2.0 billion shares traded

1 LOYALIST GROUP LIMITED owns and operates private schools in Canada offering language and professional training to students on a global scale. loyalistgroup.com

2 ENTREC CORPORATION specializes in the lifting, transportation, loading, off-loading and setting of overweight and oversized cargo. entrec.com

3 NORTHWEST INTERNATIONAL HEALTHCARE PROPERTIES REIT is focused on international medical office buildings and healthcare real estate, located in Australasia, Brazil and Germany. nwireit.com

4 MACRO ENTERPRISES INC. provides pipeline and facilities construction and maintenance services to major companies in the oil and gas industry in Northeastern B.C. and Northwestern A.B. macroindustries.ca

5 RAISE PRODUCTION INC. is an oilfield service company that is developing a production optimization system for horizontal wells. raiseproduction.com

6 RIFCO INC. operates through its wholly- owned subsidiary: Rifco National Auto Finance Corporation. Rifco provides automobile loans through franchise and independent dealership networks in Canada. rifco.net

7 FRANCHISE SERVICES OF NORTH AMERICA INC. and its subsidiaries own a number of car and truck rental brands and currently operate in 1,100 locations throughout the United States. fsna-inc.com

8 DEQ SYSTEMS CORP. provides table game bonusing technology, table games & results tracking, and jackpot solutions to 275 casinos in 30 countries. deq.com

9 SYLOGIST LTD. is a technology innovation and licensing company, which provides intellectual property solutions to a wide range of public and private sector customers. sylogist.com

10 MOSAIC CAPITAL CORPORATION is an investment company based in western Canada that owns a portfolio of established businesses with a history of generating strong sustainable cash flow from their operations. mosaiccapitalcorp.com

RANKING

75 companies listed

$994.8 million market capitalization

866.2 million shares traded

1 OPEL TECHNOLOGIES INC. designs III-V semiconductor devices for military, industrial and commercial applications including infrared sensor arrays and ultra-low-power random access memory. † opelinc.com

2 NATCORE TECHNOLOGY INC. is an R&D company focused on making solar energy more efficient, less expensive and competitive with traditional energy sources. natcoresolar.com

3 WESTERN WIND ENERGY CORP. is a vertically- integrated renewable energy development and production company that operates wind turbines and a solar field totalling 165 MW of rated capacity in California and Arizona. westernwindenergy.com

4 INNOVENTE INC. produces renewable energy and provides communities with a green and sustainable solution for the management of residual organic matter. innovente.ca

5 QUESTOR TECHNOLOGY INC. provides clean combustion solutions for waste gas, eliminating harmful emissions. questortech.com

6 WEST MOUNTAIN CAPITAL CORP. is an investment company focused on the acquisition and deployment of advanced environmental and oilfield waste treatment technologies. westmountaincapital.com

7 ENWAVE CORPORATION licenses its proprietary dehydration technology to multi-national food and pharmaceutical companies. enwave.net

8 ACT AURORA CONTROL TECHNOLOGIES CORP. develops inline measurement and control technologies for the solar industry. auroracontrol.com

9 CRAILAR TECHNOLOGIES INC. produces sustainable fibre made from flax and other bast fibres for use in textile, industrial, medical and composite applications. crailar.com

10 ZENN MOTOR COMPANY INC. is dedicated to energy efficient transportation by holding rights to purchase electrical energy storage units under development by a U.S. company. zenncars.com

RANKING

CLEAN TECHNOLOGY DIVERSIFIED INDUSTRIES

1,309 companies listed

$19.3 billion market capitalization

25.0 billion shares traded

1 ZENYATTA VENTURES LTD. is a Thunder Bay, Ontario based junior exploration company currently developing a unique graphite deposit and exploring for base metal deposits on the Albany Project in Ontario. zenyatta.ca

2 ARGEX TITANIUM INC. has transitioned from a mining exploration company to working on becoming a producer of titanium dioxide in the near-term. argex.ca

3 UNIGOLD INC. is a Canadian-based, growth-oriented, junior natural resource company focused on developing its gold projects in the large Neita property in the Dominican Republic. unigoldinc.com

4 RESERVOIR MINERALS INC. is a well-funded exploration and project generator, whose management understands the high risk nature of exploration investment and development. reservoirminerals.com

5 ATHABASCA MINERALS INC. manages and operates industrial mineral projects in Alberta. athabascaminerals.com

6 TINKA RESOURCES LIMITED is a junior resource acquisition and exploration company focused on the highly mineralized silver-lead-zinc belt of Central Peru. tinkaresources.com

7 GOLD STANDARD VENTURES CORP. is an advanced stage exploration company focused on its railroad project, located in the Carlin Trend, Nevada. goldstandardv.com

8 DISCOVERY VENTURES INC.’s focus is to explore for and develop gold, silver and copper mineral deposits in British Columbia, Canada. discoveryventuresinc.com

9 NORTHERN GOLD MINING INC. is focused on regional consolidation and the exploration and development of its Golden Bear Project in the Timmins Gold Camp in Ontario. northerngold.ca

10 WOULFE MINING CORP. is a Canadian company with a large portfolio of advanced projects in South Korea. The company’s primary focus is returning the Sangdong tungsten project to production. woulfemining.com

RANKING

277 companies listed

$11.7 billion market capitalization

12.2 billion shares traded

1 AFRICA OIL CORP. is a Canadian oil and gas company with assets in Kenya, Ethiopia and also in Puntland, Somalia, through its 45% equity interest in Horn Petroleum Corporation. africaoilcorp.com

2 PETROAMERICA OIL CORP. engages in oil exploration and production activities in Colombia with three oil discoveries. petroamericaoilcorp.com

3 IONA ENERGY INC. is an oil and gas exploration and production company that acquires, appraises and develops oil assets in well known basins, initially focused on the UK North Sea. ionaenergy.com

4 DONNYCREEK ENERGY INC. focuses on the Montney liquid-rich natural gas resource development in the Deep Basin in Alberta. donnycreekenergy.com

5 MART RESOURCES INC.’s core focus is on acquiring and developing oil and gas assets in the Niger Delta of Nigeria. martresources.com

6 WESTERNZAGROS RESOURCES LTD. is an international natural resources company engaged in acquiring properties, exploring for, developing and producing crude oil and natural gas. westernzagros.com

7 MANITOK ENERGY INC. is a public oil and gas exploration and development company focusing on conventional oil and gas reservoirs in the Canadian foothills. manitokenergy.com

8 LYNDEN ENERGY CORP. acquires exploring and developing petroleum and natural gas rights and properties. The company has interests in the Wolfberry Project and Mitchell Ranch Project in the Permian Basin in West Texas, U.S. lyndenenergy.com

9 EDGE RESOURCES INC. is a junior oil producer with a primary focus on the exploration, production and consolidation of shallow, conventional oil horizons. edgeres.com

10 EAGLEWOOD ENERGY INC. is an international oil and gas exploration company exploring and developing its licenses in Papua New Guinea. eaglewoodenergy.ca

RANKING

174 companies listed

$2.2 billion market capitalization

3.0 billion shares traded

1 ICO THERAPEUTICS INC. is developing drugs for diabetic macular edema, other sight-threatening diseases and an anti-fungal drug to treat infectious diseases. icotherapeutics.com

2 AMAYA GAMING GROUP INC. supplies gaming technology and products including an operating platform, online casino, poker, sportsbook, lottery and video lottery terminals. amayagaming.com

3 SYMBILITY SOLUTIONS INC. is a global software company dedicated to developing solutions for the insurance industry. symbilitysolutions.com

4 BIOASIS TECHNOLOGIES INC. holds strong intellectual property around the blood-brain barrier (BBB) and is using that knowledge to assist in the diagnosis and treatment of a host of central nervous system disorders and diseases. bioasis.ca

5 MEDIFOCUS INC. develops and commercializes focused microwave thermotherapy systems to treat cancerous and benign tumours and benign prostatic hyperplasia (BPH). medifocusinc.com

6 CALYX BIO-VENTURES INC. has developed a non-food oilseed crop that was used to fly the world’s first 100% biofuel flight. calyxbio.com

7 BIOSYENT INC. is a specialty pharmaceutical company that sources, in-licenses and markets innovative products. biosyent.com

8 ERGORESEARCH LTD. is Québec’s leading manufacturer of orthotics and a trend-setter in creating medical equipment and software. ergoresearch.com

9 ACASTI PHARMA INC. is developing a product portfolio of proprietary novel omega-3 phospholipids for the treatment of cardiovascular diseases. acastipharma.com

10 ISIGN MEDIA SOLUTIONS INC. sends permission-based content to mobile devices by Bluetooth and WiFi to defined areas with data reporting. isignmedia.com

RANKING

MINING OIL & GAS TECHNOLOGY & LIFE SCIENCES

1 OPL OPEL Technologies Inc. 05-Dec-07 66,900,530 0.70/0.20 0.58 0.35 68% 68,166,597 32,093,770 112% 117,528,615 - 2 NXT Natcore Technology Inc.° 19-May-09 32,570,721 1.55/0.37 0.79 0.56 41% 30,478,871 13,580,527 124% 38,580,849 - 3 WND Western Wind Energy Corp. 18-Feb-02 41,178,831 2.81/1.14 2.80 2.01 39% 196,665,865 118,495,423 66% 70,237,809 4 4 IGE Innovente Inc. 02-Dec-10 1,909,708 0.86/0.40 0.50 0.40 25% 15,741,855 4,784,450 229% 31,483,709 - 5 QST Questor Technology Inc. 03-Mar-98 3,999,691 0.49/0.28 0.41 0.28 47% 10,127,985 6,835,777 48% 25,007,370 - 6 WMT West Mountain Capital Corp.° 27-Dec-07 1,682,330 0.30/0.13 0.28 0.19 47% 10,609,573 7,199,353 47% 37,891,332 1 7 ENW EnWave Corporation + 09-Aug-99 11,802,628 1.75/1.16 1.40 1.58 -11% 107,795,486 113,070,472 -5% 76,996,776 1 8 ACU ACT Aurora Control Technologies Corp.° 07-Nov-11 1,669,502 0.39/0.27 0.33 0.37 -10% 5,171,753 3,095,548 67% 15,671,980 - 9 CL Crailar Technologies Inc. 08-Jul-08 5,568,865 3.55/1.84 2.15 2.24 -4% 95,092,776 90,081,096 6% 44,229,198 3 10 ZNN Zenn Motor Company Inc.° 06-Feb-06 12,781,381 1.87/0.61 0.67 1.14 -41% 26,738,302 42,559,521 -37% 39,907,913 4 1 LOY Loyalist Group Limited 05-Jan-11 55,649,400 0.60/0.07 0.45 0.11 309% 33,228,925 2,242,356 1382% 73,842,056 - 2 ENT ENTREC Corporation° 20-May-11 66,877,524 1.70/1.06 1.53 1.15 33% 130,526,001 39,732,501 229% 85,311,112 12 3 MOB.UN Northwest International Healthcare Properties REIT° + 29-Mar-10 16,555,226 2.35/1.95 2.01 1.45 39% 85,620,493 20,939,541 309% 42,597,260 - 4 MCR Macro Enterprises Inc.° 08-Feb-06 6,526,023 1.42/0.28 1.38 0.31 345% 32,017,079 7,468,142 329% 23,200,782 - 5 RPC Raise Production Inc. 17-Aug-05 5,536,472 0.59/0.09 0.46 0.20 133% 24,162,407 5,808,438 316% 53,104,192 1 6 RFC RIFCO Inc.° 01-Apr-03 3,171,763 3.25/0.91 3.24 0.91 256% 65,625,620 18,003,498 265% 20,254,821 1 7 FSN Franchise Services of North America Inc. 15-Dec-06 4,076,749 0.68/0.17 0.53 0.19 179% 33,294,826 11,935,881 179% 62,820,426 - 8 DEQ DEQ Systems Corp.° 30-Oct-03 6,180,288 0.53/0.21 0.46 0.27 74% 31,823,865 18,228,216 75% 69,182,315 - 9 SYZ Sylogist Ltd. 15-Oct-98 4,298,522 3.90/1.67 3.55 1.80 97% 67,223,634 35,265,659 91% 18,936,235 - 10 M Mosaic Capital Corporation + 09-May-11 2,039,447 6.15/2.66 6.00 2.85 111% 41,870,160 16,583,788 152% 6,978,360 2 1 ZEN Zenyatta Ventures Ltd. 23-Dec-10 69,618,744 0.79/0.12 0.79 0.15 445% 24,665,627 4,378,320 463% 31,222,313 - 2 RGX Argex Titanium Inc.° 09-Nov-09 78,478,011 1.42/0.40 1.25 0.41 209% 122,781,556 32,672,000 276% 98,225,245 2 3 UGD Unigold Inc. 11-Feb-03 169,820,270 0.49/0.15 0.40 0.16 158% 84,545,294 26,944,415 214% 211,363,235 2 4 RMC Reservoir Minerals Inc. 01-Nov-11 37,400,521 3.84/0.35 2.41 0.48 402% 95,930,660 11,497,075 734% 39,805,253 2 5 ABM Athabasca Minerals Inc.° + 08-Jan-07 27,622,641 2.40/0.35 1.53 0.36 331% 26,806,874 5,895,662 355% 17,520,833 - 6 TK Tinka Resources Limited 11-Feb-03 43,191,235 0.99/0.34 0.99 0.34 191% 72,856,970 22,494,574 224% 73,592,899 - 7 GSV Gold Standard Ventures Corp. 15-Jul-10 76,468,558 2.97/0.70 1.33 0.75 77% 103,817,224 40,182,847 158% 78,058,063 2 8 DVN Discovery Ventures Inc. 30-Oct-09 35,946,406 0.42/0.13 0.40 0.20 100% 13,097,894 3,339,810 292% 32,744,734 - 9 NGM Northern Gold Mining Inc. 27-Nov-07 55,272,501 0.45/0.17 0.33 0.20 65% 82,625,811 29,019,771 185% 250,381,244 1 10 WOF Woulfe Mining Corp. 15-Aug-05 121,232,140 0.39/0.18 0.30 0.19 62% 94,387,075 56,767,358 66% 314,623,583 1 1 AOI Africa Oil Corp. ★ 20-Aug-07 249,413,980 11.25/1.58 6.99 1.58 342% 1,609,908,470 266,327,342 504% 230,315,947 12 2 PTA Petroamerica Oil Corp. 22-Oct-09 376,811,112 0.36/0.10 0.35 0.11 233% 193,085,058 57,889,817 234% 551,671,594 4 3 INA Iona Energy Inc.° 08-Jun-11 198,752,544 0.64/0.32 0.55 0.34 62% 172,093,244 43,809,818 293% 312,896,807 4 4 DCK Donnycreek Energy Inc. 09-Nov-11 27,603,700 2.96/0.35 2.92 0.83 252% 60,125,881 10,303,268 484% 20,591,055 2 5 MMT Mart Resources Inc. 18-Sep-95 246,241,331 1.87/0.81 1.70 0.90 89% 605,468,940 303,043,381 100% 356,158,200 3 6 WZR WesternZagros Resources Ltd. 22-Oct-07 327,544,041 1.45/0.62 1.09 0.67 63% 449,189,899 248,710,346 81% 412,100,825 10 7 MEI Manitok Energy Inc.° + 29-Jul-10 62,724,098 2.99/1.03 2.96 1.61 84% 207,877,881 98,330,570 111% 70,229,014 8 8 LVL Lynden Energy Corp. 17-Jan-08 48,950,370 0.96/0.38 0.89 0.44 105% 98,002,813 41,155,576 138% 110,115,520 - 9 EDE Edge Resources Inc. 04-Mar-05 31,241,874 0.34/0.12 0.29 0.18 61% 37,352,650 12,932,353 189% 128,802,240 1 10 EWD Eaglewood Energy Inc. 12-Oct-07 22,652,107 0.61/0.18 0.42 0.18 137% 36,258,111 15,251,065 138% 87,368,942 3 1 ICO iCo Therapeutics Inc.° 07-Jan-08 33,621,372 0.85/0.20 0.82 0.26 222% 43,759,835 10,469,612 318% 53,365,653 1 2 AYA Amaya Gaming Group Inc. + 21-Jul-10 50,962,719 5.18/2.58 4.80 2.85 68% 380,926,843 72,938,192 422% 79,359,759 3 3 SY Symbility Solutions Inc.° 09-Apr-02 45,246,394 0.55/0.27 0.45 0.27 67% 81,867,897 31,979,920 156% 181,928,659 4 4 BTI biOasis Technologies Inc.° 03-Apr-08 22,936,621 2.05/0.60 1.59 0.61 161% 62,938,240 21,081,330 199% 39,583,799 - 5 MFS Medifocus Inc.° 26-Nov-08 3,878,751 0.30/0.10 0.30 0.14 114% 30,407,496 3,933,561 673% 101,358,319 - 6 CYX Calyx Bio-Ventures Inc. 18-Sep-08 3,689,526 0.50/0.15 0.40 0.22 82% 11,822,827 2,507,575 371% 29,557,067 - 7 RX BioSyent Inc. 13-Jun-06 4,634,883 1.38/0.42 0.92 0.42 122% 12,209,499 5,196,296 135% 13,271,195 - 8 ERG Ergoresearch Ltd.° 05-Mar-03 1,758,266 0.80/0.18 0.70 0.20 259% 41,741,893 11,628,099 259% 59,631,275 - 9 APO Acasti Pharma Inc. 31-Mar-11 5,955,713 2.74/1.20 2.24 1.20 87% 72,535,696 36,809,228 97% 32,382,007 1 10 ISD iSign Media Solutions Inc.° 04-Sep-09 39,767,107 0.47/0.18 0.27 0.27 0% 18,111,605 14,037,853 29% 67,080,020 1

° Went public via Capital Pool Company® Program + “Pick of the Street” ★ Number 1 company overall

2012 2012 SHARE SHARE SHARE MARKET MARKET MARKET NUMBER OF SECTOR LISTING TRADING 52 WEEK PRICE($) PRICE ($) PRICE CAPITALIZATION($) CAPITALIZATION($) CAPITALIZATION SHARES O/S ANALYST RANKING TICKER COMPANY NAME DATE VOLUME HIGH/LOW 31-DEC-2012 31-DEC-2011 CHANGE 31-DEC-2012 31-DEC-2011 CHANGE 31-DEC-2012 COVERAGE

This information is provided for information purposes only. Neither TMX Group Limited nor any of its affiliated companies guarantees the completeness of the information contained in this document and we are not responsible for any errors or omissions in or your use of, or reliance on, the information. The information provided is not an invitation to purchase securities listed on TSX Venture Exchange. TMX Group and its affiliated companies do not endorse

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or recommend any securities referenced in this document. Please seek professional advice to evaluate specific securities. This document is not intended to provide legal, accounting, tax, investment, financial or other advice and should not be relied upon for such advice. TMX, Toronto Stock Exchange, TSX and TSX Venture Exchange are trade-marks of TSX Inc. © 2013 TSX Inc. All rights reserved. Do not sell or modify this document without TSX Inc.’s prior written consent.

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