2.1 The Exchange can impose a trading halt for any one of the following reasons:

(a) the Issuer is not in compliance with the terms of its Listing Agreement or Exchange Requirements; or

(b) circumstances exist which, in the opinion of the Exchange, could materially affect the public interest.

2.2 If there has been undisclosed Material Information relating to the Issuer’s affairs and the Issuer does not request a trading halt, the Regulation Services Provider will halt trading in the Issuer’s Listed Shares until the Issuer publishes and disseminates a news release. The Regulation Services Provider together with the Issuer determines the time required to disseminate the news release and consequently the length of any trading halt. This will usually depend on the significance and complexity of the announcement and the geographic distribution of shareholders.

2.3 The Regulation Services Provider co-ordinates trading halts with other North American exchanges and Nasdaq when an Issuer’s Listed Shares are also listed or traded on those exchanges or quotation systems. The North American exchanges will generally halt and resume trading in an interlisted security at the same time in each market.

2.4 A trading halt should not reflect adversely on the Issuer, its management or the value of its Listed Shares. The halt does not affect the carrying value, for brokerage margin purposes, of the Issuer’s Listed Shares. Nevertheless, a trading halt may be changed to a suspension at any time, if the reason for the halt is not addressed by the Issuer or if the Exchange deems a suspension to be in the public interest.

My question is why did the iiroc initiate the trading halt and not SLI? I also read that the duration of the halt is determined by the iiroc and SLI jointly. How long can a halt be in effect?

Vimar