Share Structure

SHARE STRUCTURE

Common Shares Issued and Outstanding (December 2017): 43,045,139

4,114,000 Incentive Stock Options convertible into 4,114,000 common shares, as of December 20, 2017, on the following terms:

  • 1,200,000 of which exercisable at $0.12 per share and expiring June 16, 2018;
  • 314,000 of which exercisable at $0.12 per share and expiring January 19, 2019;
  • 600,000 of which exercisable at $0.09 per share and expiring August 29, 2019; and,
  • 2,000,000 of which exercisable at $0.12 per share and expiring October 11, 2019.

20,559,600 outstanding Warrants as of December 20, 2017, as follows:

  • 10,800,000 of a total of 11,200,000 warrants exercisable on a 2:1 basis at $0.12 per share, pursuant to the 15,500,000 unit private placement (warrants expiring May 5, 2018);
  • 360,000 of a total of 360,000 brokers’ warrants exercisable on a 2:1 basis at $0.12 per share, pursuant to the 15,500,000 unit private placement (warrants expiring May 5, 2018);
  • 4,300,000 of a total of 4,300,000 warrants exercisable on a 2:1 basis at $0.12 per share, pursuant to the 15,500,000 unit private placement (warrants expiring June 15, 2018);
  • 299,600 of a total of 299,600 brokers’ warrants exercisable on a 2:1 basis at $0.12 per share, pursuant to the 15,500,000 unit private placement (warrants expiring June 15, 2018);
  • 4,800,000 of a total 5,000,000 warrants exercisable on a 1:1 basis at $0.12 per share, pursuant to the 5,000,000 unit flow-through private placement (warrants expiring the earlier of a 30-day period from the 7th calendar day after the Company’s shares have closed with a trading price of $0.20 per share for a consecutive ten-day period, or July 17, 2018)