| 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 |
|
| |
|
2018 |
|
|
2017 |
|
| |
|
|
|
|
|
|
| Outstanding, beginning of year |
|
4,866,667 |
|
|
4,625,000 |
|
| Granted |
|
2,150,000 |
|
|
2,366,667 |
|
| Expired |
|
- |
|
|
(500,000 |
) |
| Exercised |
|
- |
|
|
- |
|
| Forfeited |
|
- |
|
|
- |
|
| Cancelled |
|
(640,000 |
) |
|
(1,625,000 |
) |
| Outstanding, end of year |
|
6,376,667 |
|
|
4,866,667 |
|
| Exercisable, end of year |
|
5,189,167 |
|
|
4,419,445 |
|
| Year 2018 |
|
|
|
|
Number of |
|
|
|
Exercise price |
|
|
options |
|
| Expiry date |
|
per share |
|
|
2018 |
|
| May 8, 2019 |
|
CDN$ 0.35 ($0.26) |
|
|
600,000 |
|
| September 10, 2019 |
|
CDN$ 0.40 ($0.30) |
|
|
550,000 |
|
| October 19, 2020 |
|
CDN$ 0.38 ($0.29) |
|
|
800,000 |
|
| October 19, 2021 |
|
CDN$ 0.11 ($0.08) |
|
|
350,000 |
|
| March 22, 2022 |
|
CDN$ 0.13 ($0.10) |
|
|
1,150,000 |
|
| May 25, 2022 |
|
CDN$ 0.20 ($0.15) |
|
|
680,000 |
|
| August 16, 2022 |
|
CDN$ 0.20 ($0.15) |
|
|
96,667 |
|
| October 21, 2023 |
|
CDN$ 0.19 ($0.14) |
|
|
650,000 |
|
| April 12, 2025 |
|
CDN$ 0.21 ($0.16) |
|
|
1,500,000 |
|
|
|
|
|
|
|
|
| TOTAL |
|
|
|
|
6,376,667 |
|
|
|
|
|
|
|
|
| Weighted average exercise price: |
|
|
|
|
|
|
| Options outstanding at end of year |
|
CDN$ 0.22 |
|
|
($0.18 |
) |
| Options granted during the year |
|
CDN$ 0.20 |
|
|
($0.16 |
) |
| Options exercised during the year |
|
- |
|
|
- |
|
| Options expired during the year |
|
- |
|
|
- |
|
| Options cancelled during the year |
|
CDN$ 0.30 |
|
|
($0.23 |
) |
|
|
|
|
|
|
|
|
Year 2017
|
|
|
|
|
Number of |
|
| |
|
Exercise price |
|
|
options |
|
| Expiry date |
|
per share |
|
|
2017 |
|
| May 8, 2019 |
|
CDN$ 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 ($0.10) |
|
|
1,150,000 |
|
| May 25, 2022 |
|
CDN$ 0.20 ($0.15) |
|
|
970,000 |
|
| August 16, 2022 |
|
CDN$ 0.21 ($0.16) |
|
|
96,667 |
|
| TOTAL |
|
|
|
|
4,866,667 |
|
| Weighted average exercise price: |
|
|
|
|
|
|
| Options outstanding at end of year |
|
CDN$ 0.24 |
|
|
($0.19 |
) |
| Options granted during the year |
|
CDN$ 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 |
) |
The share options outstanding at the end of the year had a weighted average remaining contractual life as follows:
| |
|
2018 |
|
|
2017 |
|
| |
|
(Years) |
|
|
(Years) |
|
| Total outstanding options |
|
3.5 |
|
|
3.4 |
|
| Total exercisable options |
|
2.0 |
|
|
2.7 |
|
| |
|
Number of |
|
|
|
|
| |
|
Warrants |
|
|
Exercise |
|
| |
|
Granted |
|
|
Prices |
|
| |
|
|
|
$ |
|
|
| 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 |
|
| Granted |
|
5,100,000 |
|
|
0.25 |
|
| Expired |
|
- |
|
|
- |
|
| Outstanding at November 30, 2018 and average exercise price |
|
26,041,160 |
|
|
0.19 |
|
| |
|
|
|
|
|
|
| Exercisable at November 30, 2018 |
|
26,041,160 |
|
|
0.19 |
|
| Exercisable at November 30, 2017 |
|
20,941,160 |
|
|
0.18 |
|
The warrants outstanding at the end of the year had a weighted average remaining contractual life as follows:
| |
|
2018 |
|
|
2017 |
|
| |
|
(Years) |
|
|
(Years) |
|
| Total outstanding warrants |
|
3.88 |
|
|
4.68 |
|
| Total exercisable warrants |
|
3.88 |
|
|
4.68 |
|
|