content_image/190026.jpg
## 12. Commitments: 

In 2009, the Corporation signed a seven-year lease at a new location that commenced December 1, 2009, ending November 30, 2016. The Corporation’s annual commitment under this lease is as follows: 

<img src='content_image/190026.jpg'>

## 13. Explanation of transition to IFRS: 

As stated in note 1, these are the Corporation’s consolidated financial statements prepared in accordance with IFRS. 

The accounting policies set out in note 3 have been applied in preparing the consolidated financial statements for the year ended December 31, 2011, the comparative information presented in these consolidated financial statements for the year ended December 31, 2010 and in the preparation of an opening IFRS statement of financial position at January 1, 2010 (the Corporation’s date of transition). 

In preparing its opening IFRS statement of financial position, the Corporation has adjusted amounts reported previously in financial statements prepared in accordance with Canadian GAAP. An explanation of how the transition from previous GAAP to IFRS has affected the Corporation’s financial position and financial performance is set out in the following tables and the notes that accompany the tables. 

