RESTRICTED CASH

On May 29, 2015, the Company accepted a $2,500,000 subscription for the sale of 7,575,757 common stock at a price of $0.33 (CAD $0.41) per share on a non-brokered private placement basis. The funds were held in escrow as the closing of the private placement is subject to approval of the new insider by the TSX- Venture Exchange, as required under stock exchange rules. Subsequent to the quarter, the Company received approval from the TSX-Venture exchange (see note 13)