Terms & Conditions

1. No Warranty or Representation. While Clarus Securities & its affiliates ("Clarus Securities") uses reasonable efforts to include accurate and up-to-date information on the Clarus Securities Web site (the "Site"), your use and browsing of the Site is completely at your own risk. Nothing in the Site shall add to or change any contract or relationship you may have with Clarus Securities, or its affiliates. Neither Clarus Securities, its affiliates nor any other party involved in creating, producing, or delivering the Site is liable for any direct, indirect, incidental, special, consequential, punitive or other damages whatsoever, including business interruption, loss of use, data, information, profits (regardless of the form of action, including but not limited to contract, negligence or other tortious acts) arising out of or in connection with your access or use of the Site, even if Clarus Securities has been advised of or foresees the possibility of any damages occurring. Without limiting the foregoing, everything on the Site is provided to you "as is" without representation, warranty or condition of any kind, either express, implied, or statutory, including, but not limited to, implied representations, conditions of sale, suitability, title, or non-infringement of intellectual property rights. Changes or updates to the content of this Site may occur without notice.

2. Solicitation. Nothing on the site shall be construed as an offer to sell or a solicitation of an offer to buy any securities. Clarus Securities or affiliated companies or persons may participate in an underwriting of, have a position in, or make a market in, the securities mentioned herein, including options, futures or other derivative instruments thereon, and may, as principal or agent, buy and sell such products. Clarus Securities will provide upon request a list of the names of its directors and senior officers.

3. Registration. Clarus Securities is not registered in all jurisdictions and may not be able to effect transactions on behalf of persons accessing this web site.

4. Use of Information. You hereby agree that you shall not use any information contained in this Site or the links to this Site in any claims, proceedings, suits or actions against Clarus Securities, or its affiliates.

5. Linkage. The sites linked to this Site are not under the control of Clarus Securities and Clarus Securities is not responsible for and makes no representations, warranties or conditions concerning the contents of any linked site or any link contained in a linked site. It is your responsibility to verify any information contained within the links before relying on it. Also, the information contained in the links may be changed or updated at any time without notice. Clarus Securities provides links to you only as a convenience and the inclusion of any link does not imply endorsement, investigation or verification by Clarus Securities of the linked site. Your use of the linked sites may be subject to terms and conditions contained in these Web sites, which you should locate and carefully review.

6. Monitoring. Clarus Securities is under no obligation to monitor the Site and assumes no responsibility or liability should its content be modified or altered in any way without Clarus Securities' consent.

7. Revisions. Clarus Securities may at any time revise these Terms and Conditions by updating this posting. You should therefore review these Terms and Conditions each time you access the Site.

8. Copyright. You should assume that everything you see or read on the Site is copyrighted unless otherwise noted and may not be used without the written permission of Clarus Securities, except for non-commercial use provided that you do not modify the content and that you retain all copyright and other proprietary notices contained in the content. You may not copy or display for redistribution to third parties or for commercial purposes any portion of the content.

9. Trademarks. The trademarks, logos, service marks and other names, logos and icons identifying products and services (collectively the "Trademarks") displayed on the Site, are registered and unregistered Trademarks of Clarus Securities and others.

10. Consent. You hereby authorize Clarus Securities to collect and retain all relevant information relating to your use of the Site. You further authorize any third party to provide Clarus Securities with such information. Clarus Securities reserves the right to withdraw your rights to the website and may terminate your access at its sole discretion.

11. Damage. Clarus Securities assumes no responsibility and shall not be liable for any damages to, or viruses that may infect, your computer equipment or other property on account of your access to, use of, or browsing on the Site or your downloading of any materials, data, text, or images from the Site.

12. Right of Indemnification. You agree to defend, indemnify and hold Clarus Securities, its suppliers, employees, affiliates and related companies harmless from any and all liabilities, costs and expenses, including reasonable legal fees related to any violation of these Terms and Conditions by you, or in connection with your use of the Site or with the placement or transmission of any message or information on the Site by you.

13. Waiver. Clarus Securities' failure to insist upon or enforce strict performance of any provision of these Terms and Conditions shall not be construed as a waiver of any provision or rights contained in these Terms and Conditions.

14. Governing Laws. These Terms and Conditions shall be governed by the laws of the province of Ontario and the federal laws of Canada, applicable therein, and you agree to be bound by the laws of these jurisdictions. Clarus Securities is not a registered securities dealer in the United States and the information on this website is intended only for general publication in the U.S. Certain U.S. institutional investors may access Clarus Research on a pre-approved basis.