STOCK PURCHASE WARRANTS
|9 Months Ended|
Aug. 31, 2015
|STOCK PURCHASE WARRANTS [Text Block]||
Year ended November 30, 2014
On August 6, 2014, the Company issued $1,398,592 (CAD $1,549,000) face value 12% convertible debentures with a term to August 6, 2017 (the “Maturity Date”). At any time while the debentures are outstanding, the holder has the option to convert the outstanding principal of the debentures into common shares of the Company at a fixed conversion price of CAD $0.50 per share. In connection with the financing, the Company issued warrants to placement agents to purchase 151,900 shares of common stock at an exercise price of US $0.45 (CAD $0.50) per share. These warrants expire on August 5, 2016. The relative fair value allocated to warrants and credited to additional paid in capital was $33,583.
Nine month period ended August 31, 2015
The Company did not issue any warrants during the nine month period ended August 31, 2015.