Ontario Corporation Number
Numero de la compagnie en Ontario
For Ministry Use Only 1022633
A l'usage exclusif du ministere
Ministry of Ministere de
[LOGO] Consumer and la Consommation
Commercial et du Commerce
Ontario Relations
CERTIFICATE CERTIFICAT
This is to certify that these Ceci certifie que les presents
articles are effective on statuts entrent en vigueur le
MARCH 17 MARS. 1993
Trans Line Comp Method
Code No. Stat Type Incorp.
/ A / / O / / O / / A / / 3 /
18 20 28 29 30
Director/Directeur Notice
Business Corporations Act/ Share Req'd Jurisdiction
Loi de sur les compagnies / S / / N / ONTARIO
31 32 33 47
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ARTICLES OF INCORPORATION
STATUTS CONSTITUTIFS
Form 1 1. The name of the corporation is: Denomination sociale de la
Business compagnie:
Corporations MIAD SYSTEMS LTD.
Act.
1982 2. The address of the registered Adresse du siege social:
Formule office is:
numero 1
Loi de 1982 181 BAY STREET, BCE PLACE, SUITE 2500
sur les (Street & Number or R.R. Number & if Multi-Office Building
compagnies give Room No.)
(Rue et numero ou numero de la R.R. et, s'il s'agit d'un
edifice a bureaux, numero de bureau)
TORONTO, ONTARIO M5J2T7
------------------------------------- -----------
(Name of Municipality or Post Office) (Postal Code)
(Nom de la municipalite ou du bureau de poste) (Code postal)
MUNICIPALITY OF xxxxxx METROPOLITAN TORONTO
------------------- ---------- --------------------
(Name of Municipality, dans le/la (County, District,
Geographical Township) Regional Municipality)
(Nom de la municipalite, (Comte, district,
du canton) municipalite, regionale)
3. Number (or minimum and Nombre (ou nombres minimal
maximum number) of et maximal) d'administrateurs:
directors is:
A MINIMUM OF ONE (1) AND A MAXIMUM OF SEVEN (7)
4. The first director(s) is/are: Premier(s) administrateur(s):
<TABLE>
<CAPTION>
Resident
Canadian
Residence address, giving street & No. or State
First name, initials and R.R. No. or municipality and postal code. Yes or No
surname Adresse personnelle, y compris la rue et Resident
Prenom, initiales et le numero, le numero de la R.R. ou, le nom Canadien
nom de famille de la municipalite et le code postal) Oui/Non
<S> <C> <C>
Adrienne Green Greenwinds Far, R.R. #2,
Stouffville, Ontario, L4A 7X3
</TABLE>
<PAGE>
5. Restrictions, if any, on business Limites, s'il y a lieu,
the corporation may carry on or on imposees aux activites
powers the corporation may exercise. commerciales ou aux
pouvoirs de la compagnie.
None
6. The classes and any maximum number Categories et nombre
of shares that the corporation is maximal, s'il y a lieu,
authorized to issue. d'actions que la
compagnie est autorisee
a emettre:
An unlimited number of common shares without par value and an
unlimited number of First Preference Shares without par value
issuable in series.
<PAGE>
7. Rights, privileges, restrictions Droits, privileges,
and conditions (if any) attaching restrictions et
to each class of shares and conditions, s'il y a
directors authority with respect to lieu, rattaches a cheque
any class of shares which may be categorie d'actions et
issued in series: pouvoirs des
administrateurs retentis
a chaque categorie
d'actions qui peut etre
emine en serie:
1. The First Preference Shares may at any time and from time to
time be issued in one or more series, to consist of such
number of shares as may, before issuance of such series, be
fixed by the directors by Articles of Amendment in
accordance with the procedure set forth in the Business
Corporations Act (the "Act") respecting the issuance of
shares in series.
2. The directors of the Corporation may (subject to the
limitations set forth herein and in the Act) fix by Articles
of Amendment in accordance with the procedure set forth in
the Act respecting the issuance of shares in series and,
prior to the issuance of any shares of a particular series
of First Preference Shares authorized to be issued, the
designation, rights, privileges, restrictions and
conditions to attach to the First Preference Shares of that
particular series, including, without limiting the
generality of the foregoing, the rate of preferential
dividends and whether or not the same shall be cumulative,
the dates of payment thereof, the rights, if any, to
participate in further dividends and other distributions
made by the Corporation, the redemption price and terms and
conditions of redemption, including the rights, if any, of
the holders of First Preference Shares of such series to
require the redemption thereof, the voting rights and
conversion rights, if any, and any redemption fund, purchase
fund or other provisions to be attached to the First
Preference Shares of such series.
3. If any amount:
(a) of cumulative dividends, whether or not declared, or
declared non-cumulative dividends; or
(b) payable on return of capital in the event of the
liquidation, dissolution or winding-up of the
Corporation or other distribution of assets of the
Corporation among its shareholders for the purposes of
winding-up its affairs;
in respect of shares of a series of First Preference Shares
is not paid in full, the shares of such series shall
participate rateably with the shares of all other series of
the First Preference Shares in respect of:
(c) all accumulated dividends, whether or not declared, and
all declared non-cumulative dividends; or
(d) all amounts payable on return of capital in the event of
the liquidation, dissolution or winding-up of the
Corporation or other distribution of assets of the
Corporation among its shareholders for the purposes of
winding-up its affairs;
as the case may be.
4. The First Preference Shares of any series may be given such
preferences over, or rights to participate with, any other
shares of the Corporation ranking junior to the First
Preference Shares (including in respect of, but not in any
way limited to, payment of dividends, repayment of capital
and distribution of assets in the event of liquidation,
dissolution, or winding-up of the Corporation, or other
distribution of assets of the Corporation among its
shareholders for the purposes of winding-up its affairs,
whether voluntary or involuntary) as may be fixed by the
directors of the
<PAGE>
Corporation in the preferences, rights, conditions,
restrictions, limitations and prohibitions attached to such
series.
5. No preferences, rights, conditions, restrictions,
limitations or prohibitions attached to a series of First
Preference Shares shall confer upon the shares of that or
another series of the First Preference Shares a priority in
respect of:
(a) dividends; or
(b) return of capital in the event of liquidation,
dissolution or winding-up of the Corporation or other
distribution of assets of the Corporation among its
shareholders for the purposes of winding-up its affairs;
over the shares of any other series of the First Preference
Shares.
6. Subject to the provisions of the Act and the provisions
attached to any particular series of the First Preference
Shares, First Preference Shares of any series, if so
provided in the rights, privileges, restrictions and
conditions attached to such series, may be purchased for
cancellation or made subject to redemption at the option of
the Corporation or the holder thereof at such time and at
such prices and upon such other terms and conditions as may
be specified in the rights, privileges, restrictions and
conditions attaching to the First Preference Shares of such
series.
7. No holder of First Preference Shares shall be entitled, as
such, to any pre-emptive right to subscribe for the purchase
or to receive any part of any issue of shares, or of bonds,
debentures or other securities of the Corporation, whether
now or hereafter authorized or issued; provided, however,
that, notwithstanding the foregoing, if so specified in the
rights, privileges, restrictions and conditions attached to
a particular series of First Preference Shares authorized to
be issued, the holders of such series of First Preference
Shares may be given a pre-emptive right to subscribe for the
purchase of or to receive all or a part of any issue of
shares or of bonds, debentures or other securities of the
Corporation, whether now or hereafter authorized or issued,
upon such terms and conditions as it may be specified in
such rights, privileges, restrictions and conditions.
8. The holders of the First Preference Shares shall not, as
such, have any right to vote separately as a class or series
upon any proposal to amend the articles of the Corporation
to:
(a) increase any maximum number of authorized shares of any
class of shares of the Corporation having rights or
privileges ranking in priority to or equal with the
First Preference Shares; or
(b) effect an exchange, reclassification or cancellation of
all or part of the First Preference Shares; or
(c) create a new class of shares ranking in priority to or
equal with the First Preference Shares;
provided that, notwithstanding the foregoing, if so
specified in the provisions attached to a particular series
of First Preference Shares authorized to be issued and
subject to such limitations as may be specified therein, the
Corporation shall be required to obtain the approval by
special resolution or in such other manner as may
be provided in such rights, privileges, restrictions or conditions, of the
holders of such series of First Preference Shares to any proposal to amend
the articles of the Corporation in any of the aforesaid respects.
9. The holders of the common shares are entitled to vote at all meetings of
shareholders, to receive dividends and to receive the remaining property of
the Corporation upon dissolution.
<PAGE>
8. The issue, transfer or ownership of ?????? de transfert ouu la propriete
shares is/is not restricted and the d'actions est/n'est pas restricte
restrictions (if any) are as follows: Les restrictions, s'il y a lieu,
sontles sumaries.
No shares of the capital of the Corporation shall be transferred without either
(a) the sanction of the directors of the Corporation expressed either by a
resolution or by an instrument or instruments in writing signed by a majority
of the directors or alternatively (b) the sanction of the shareholders of the
Corporation expressed either by a resolution or by an instrument or instruments
in writing signed by the holders of a majority of the outstanding shares of the
capital of the Corporation.
<PAGE>
9. Other provisions, if any, are: Autres provisions, s'il y a lieu
(a) The board of directors may from time to time, without authorization of the
shareholders:
(i) borrow money upon the credit of the Corporation;
(ii) issue, reissue, sell or pledge debt obligations of the Corporations;
(iii) subject to the Business Corporations Act, give a guarantee on behalf
of the Corporation to secure performance of an obligation of any
person; and
(iv) mortgage, hypothecate, pledge or otherwise create a security interest
in all or any property of the Corporation, owned or subsequently
acquired, to secure any obligation of the Corporation.
Nothing in this subparagraph (a) limits or restricts the borrowing of money
by the Corporation on bills of exchange or promissory notes made, drawn,
accepted or endorsed by or on behalf of the Corporation.
The board of directors may from time to time by resolution delegate any or all
of the powers referred to above to a director, a committee of directors or an
officer.
For greater certainty, but without in any way limiting the powers conferred on
the board of directors hereunder, for the purpose of clause (iv) of this
subparagraph (a), "property" shall include and be deemed to include, without
limitation, both movable and immovable property.
The foregoing powers conferred on the directors shall be deemed to include the
powers conferred on a company by Division VII of the Special Corporate Powers
Act, being Chapter P-16 of the Revised Statutes of Quebec, 1977, and every
statutory provision that may be substituted therefor or for any provision
therein.
(b) The number of shareholders, exclusive of persons who are in the employment
of the Corporation and exclusive of persons who, having been formerly in the
employment of the Corporation, were, while in that employment, and have
continued after termination of that employment to be, shareholders of the
Corporation, is limited to not more than fifty, two or more persons who are the
joint registered owners of one or more shares being counted as one shareholder.
(c) Any invitation to the public to subscribe for securities of the Corporation
is prohibited.
<PAGE>
10. The names and addresses of the incorporators are
Nom et adresse des fondateurs
First name, initials and surname or corporate name
Prenom, initiale et nom de famille ou denomination sociale
Adrienne Green
Full residence address or address of registered office or of principal place of
business giving street & No. or R.R. No., minicipality and postal code
Adresse personnelle au complet, adresse du siege social ou adresse de
l'etablissement principal, y compris la rue et le numero, le numero de la R.R.,
le nom de la municipalite et le code postal
Greenwinds Farm, R.R. @2
Stouffville, Ontario
L4A 7X3
These articles are signed in duplicate Les presents statuts sont signes en
double exemplaire.
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Signatures of incorporators
(Signature des fondateurs)
/s/ Adrienne Green
___________________________________
Adrienne Green
