| STOCK PURCHASE OPTIONS AND WARRANTS [Text Block] |
| 7. |
STOCK PURCHASE OPTIONS AND WARRANTS
|
The following table summarizes the options outstanding under the Stock Option Plan:
| |
|
|
Number of options |
|
| |
|
|
2017 |
|
|
2016 |
|
| |
|
|
|
|
|
|
|
| |
Outstanding, beginning of year |
|
4,625,000
|
|
|
4,750,000
|
|
| |
Granted |
|
2,366,667
|
|
|
375,000
|
|
| |
Expired |
|
(500,000
|
) |
|
(100,000
|
) |
| |
Exercised |
|
-
|
|
|
-
|
|
| |
Forfeited |
|
-
|
|
|
-
|
|
| |
Cancelled |
|
(1,625,000
|
) |
|
(400,000
|
) |
| |
Outstanding, end of year |
|
4,866,667
|
|
|
4,625,000
|
|
| |
Exercisable, end of year |
|
4,419,445
|
|
|
4,625,000
|
|
| |
Year 2017 |
|
|
|
|
Number of |
|
| |
|
|
Exercise price |
|
|
options |
|
| |
Expiry date |
|
per share |
|
|
2017 |
|
| |
May 8, 2019 |
|
CDN$0.35
($0.32)
|
|
|
600,000
|
|
| |
September 10, 2019 |
|
CDN$0.40
($0.36)
|
|
|
550,000
|
|
| |
October 19, 2020 |
|
CDN$0.38
($0.29)
|
|
|
1,150,000
|
|
| |
October 19, 2021 |
|
CDN$0.11
($0.08)
|
|
|
350,000
|
|
| |
March 22, 2022 |
|
CDN$0.13
($0.10)
|
|
|
1,150,000
|
|
| |
March 25, 2022 |
|
CDN$0.20
($0.15)
|
|
|
970,000
|
|
| |
August 16, 2022 |
|
CDN$0.20
($0.16)
|
|
|
96,667
|
|
| |
TOTAL |
|
|
|
|
4,866,667
|
|
| |
|
|
|
|
|
|
|
| |
Weighted average exercise price: |
|
|
|
|
|
|
| |
Options outstanding at end of year |
|
CDN$0.26
|
|
|
($0.21
|
) |
| |
Options granted during the year |
|
CDN$0.15
|
|
|
($0.13
|
) |
| |
Options exercised during the year |
|
-
|
|
|
-
|
|
| |
Options expired during the year |
|
CDN$0.35
|
|
|
($0.31
|
) |
| |
Options cancelled during the year |
|
CDN$0.37
|
|
|
($0.32
|
) |
| |
Year 2016
|
|
|
|
|
Number of |
|
| |
|
|
Exercise price |
|
|
options |
|
| |
Expiry date
|
|
per share |
|
|
2016 |
|
| |
March 18, 2017 |
|
CDN$0.35
($0.31)
|
|
|
350,000
|
|
| |
August 5, 2017 |
|
CDN$0.35
($0.32)
|
|
|
150,000
|
|
| |
May 8, 2019 |
|
CDN$0.35
($0.32)
|
|
|
600,000
|
|
| |
September 10, 2019 |
|
CDN$0.40
($0.36)
|
|
|
1,625,000
|
|
| |
October 19, 2020 |
|
CDN$0.38
($0.29)
|
|
|
1,525,000
|
|
| |
August 17, 2021 |
|
CDN$0.14
($0.11)
|
|
|
25,000
|
|
| |
October 19, 2021 |
|
CDN$0.11
($0.08)
|
|
|
350,000
|
|
| |
TOTAL |
|
|
|
|
4,625,000
|
|
| |
Options outstanding at end of year |
|
CDN$0.36
|
|
|
($0.30
|
) |
| |
Options granted during the year |
|
CDN$0.11
|
|
|
($0.08
|
) |
| |
Options exercised during the year |
|
-
|
|
|
-
|
|
| |
Options expired during the year |
|
CDN$0.45
|
|
|
($0.45
|
) |
| |
Options cancelled during the year |
|
CDN$0.39
|
|
|
($0.33
|
) |
The share options outstanding at the end of the year had a weighted average remaining contractual life as follows:
| |
|
|
2017 |
|
|
2016 |
|
| |
|
|
(Years) |
|
|
(Years) |
|
| |
Total outstanding options |
|
3.4
|
|
|
2.8
|
|
| |
Total exercisable options |
|
2.7
|
|
|
2.8
|
|
| |
|
|
Number of |
|
|
|
|
| |
|
|
Warrants |
|
|
Exercise |
|
| |
|
|
Granted |
|
|
Prices |
|
| |
|
|
|
|
$ |
|
|
| |
Outstanding at November 30, 2015 and average exercise price |
|
2,767,800
|
|
|
0.17
|
|
| |
Expired |
|
(131,250
|
) |
|
0.13
|
|
| |
Expired |
|
(151,900
|
) |
|
0.45
|
|
| |
Cancelled |
|
-
|
|
|
-
|
|
| |
Outstanding at November 30, 2016 and average exercise price |
|
2,484,650
|
|
|
0.16
|
|
| |
Granted |
|
17,891,806
|
|
|
0.18
|
|
| |
Granted |
|
572,354
|
|
|
0.15
|
|
| |
Expired |
|
(7,650
|
) |
|
0.25
|
|
| |
Outstanding at November 30, 2017 and average exercise price |
|
20,941,160
|
|
|
0.18
|
|
| |
|
|
|
|
|
|
|
| |
Exercisable at November 30, 2017 |
|
20,941,160
|
|
|
0.18
|
|
| |
Exercisable at November 30, 2016 |
|
2,484,650
|
|
|
0.16
|
|
On June 9, 2016, the board of directors extended the expiry of
400,000
warrants issued in 2012 by an additional
4
years (refer to note 6).
The warrants outstanding at the end of the year had a weighted average remaining contractual life as follows:
| |
|
|
2017 |
|
|
2016 |
|
| |
|
|
(Years) |
|
|
(Years) |
|
| |
Total outstanding warrants |
|
4.68
|
|
|
3.25
|
|
| |
Total exercisable warrants |
|
4.68
|
|
|
3.25
|
|
|