(in thousands of Canadian dollars)

Three Months Ended September 30,

Nine Months Ended September 30,

2017

2016

2017

2016

REVENUE EXCLUDING NON-CASH REVENUE:

Revenue per income statement

$

10,165

$

20,651

$

31,415

$

53,776

Non-cash revenue

-

(5,128)

-

(15,541)

REVENUE EXCLUDING NON-CASH REVENUE

$

10,165

$

15,523

$

31,415

$

38,235

ADJUSTED EBITDA:

Net loss

$

(6,400)

$

(9,618)

$

(15,384)

$

(20,995)

Add back (subtract):

Depreciation and amortization

4,156

6,321

12,818

19,277

Net finance costs

528

535

1,406

1,636

Income tax recovery

(173)

(251)

(2,961)

(2,907)

EBITDA

(1,889)

(3,013)

(4,121)

(2,989)

Non-cash revenue

-

(5,128)

-

(15,541)

Non-cash operating costs

-

3,859

-

11,736

Impairment of assets

355

7,780

664

7,780

Share-based payments expense

822

769

2,033

1,892

(Gain) loss on derivative financial instruments

(422)

775

(1,345)

775

Foreign exchange loss (gain)

760

(296)

1,965

106

ADJUSTED EBITDA

$

(374)

$

4,746

$

(804)

$

3,759