Disclosure of share capital, reserves and other equity interest [text block] | 8. Share capital and reserves (a) Authorized share capital At December 31, 2018, not (b) Details of private placement and other issues of common shares in 2018, 2017 2016 On June 7, 2018, 9,440,000 $1.00 $9,440,000. one one one one $1.35 June 7, 2022. October 8, 2018, $2.00 20 20th may 30th three $384,900 192,450 $1.35 June 7, 2020. $36,566 $216,659 On June 1, 2017, 9,857,800 $1.75 $17,251,150. one one one one $2.45 June 1, 2020. $1,035,069 295,734 $2.00 June 1, 2019. $171,526. $296,823 On February 7, 2017, 2,519,407 $1.35 $3,401,199. one one one one $2.00 August 7, 2019. $88,631 17,911 $1.35 August 7, 2019. $9,165. $116,408 On May 25, 2016, 3,229,082 $1.35 $4,359,260. one one one one $2.00 November 25, 2018. $147,925 45,944 $1.44 November 25, 2018. $17,918. $119,689 (c) Warrants The continuity of warrants for the years ended December 31, 2018, 2017 2016 Exercise December 31, December 31, Expiry date price 2017 Issued Exercised Expired 2018 November 25, 2018 $ 2.00 1,614,541 - - (1,614,541 ) - November 25, 2018 $ 1.44 22,972 - - (22,972 ) - June 1, 2019 $ 2.00 295,734 - - - 295,734 August 7, 2019 $ 2.00 1,259,704 - - - 1,259,704 August 7, 2019 $ 1.35 10,411 - - - 10,411 June 1, 2020 $ 2.45 4,928,900 - - - 4,928,900 June 7, 2020 $ 1.35 - 192,450 - - 192,450 June 7, 2022 $ 1.35 - 4,720,000 - - 4,720,000 Warrants outstanding and exercisable 8,132,262 4,912,450 - (1,637,513 ) 11,407,199 Weighted average exercise price $ 2.27 $ 1.35 - $ 1.99 $ 1.91 The weighted average remaining life of warrants outstanding at December 31, 2018 2.14 2017 1.95 Exercise December 31, December 31, Expiry date price 2016 Issued Exercised Expired 2017 November 17, 2017 $ 1.00 2,036,667 - (1,986,667 ) (50,000 ) - November 25, 2018 $ 2.00 1,614,541 - - - 1,614,541 November 25, 2018 $ 1.44 45,944 - (22,972 ) - 22,972 June 1, 2019 $ 2.00 - 295,734 - - 295,734 August 7, 2019 $ 2.00 - 1,259,704 - - 1,259,704 August 7, 2019 $ 1.35 - 17,911 (7,500 ) - 10,411 June 1, 2020 $ 2.45 - 4,928,900 - - 4,928,900 Warrants outstanding and exercisable 3,697,152 6,502,249 (2,017,139 ) (50,000 ) 8,132,262 Weighted average exercise price $ 1.44 $ 2.34 $ 1.01 $ 1.00 $ 2.27 The weighted average remaining life of warrants outstanding at December 31, 2017 1.95 2016 1.34 Exercise December 31, Expired/ December 31, Expiry date price 2015 Issued Exercised cancelled 2016 February 11, 2016 $ 1.76 2,210,000 - - (2,210,000 ) - February 11, 2016 $ 1.12 49,410 - - (49,410 ) - July 17, 2016 $ 1.58 4,376,000 - (4,376,000 ) - - July 17, 2016 $ 1.32 186,000 - - (186,000 ) - November 17, 2017 $ 1.00 2,253,334 - (216,667 ) - 2,036,667 November 17, 2017 $ 0.77 35,200 - (35,200 ) - - November 25, 2018 $ 2.00 - 1,614,541 - - 1,614,541 November 25, 2018 $ 1.44 - 45,944 - - 45,944 Warrants outstanding and exercisable 9,109,944 1,660,485 (4,627,867 ) (2,445,410 ) 3,697,152 Weighted average exercise price $ 1.47 $ 1.98 $ 1.55 $ 1.71 $ 1.44 The weighted average fair value of finders’ warrants granted during the years ended December 31, 2018, 2017 2016 Weighted average assumptions used Number of warrants Date of issue Fair value per share Risk free interest rate Expected life Expected volatility Expected dividends 192,450 June 7, 2018 $ 0.19 1.94 % 2 54.02 % $Nil 295,734 June 1, 2017 $ 0.58 0.71 % 2 66.26 % $Nil 17,911 February 7, 2017 $ 0.51 0.72 % 2.50 61.54 % $Nil 45,944 May 25, 2016 $ 0.39 0.59 % 2 55.53 % $Nil (d) Share purchase option compensation plan The Company’s stock option plan permits the issuance of options up to a maximum of 10% 2% twelve December 31, 2018, 1,465,672 may five The maximum term of all options is five five may no 25% three December 31, 2018, 2017 2016 The Company’s stock option plan permits the option holder to exercise cashless by surrendering a portion of the underlying option shares to pay for the exercise price and the corresponding withholding taxes, if applicable. The continuity of stock options for the year ended December 31, 2018, 2017 2016 Expiry date Exercise December 31, Granted Exercised Expired December 31, April 4, 2018 $ 1.74 90,000 - - (90,000 ) - May 6, 2018 $ 1.41 100,000 - - (100,000 ) - June 8, 2018 $ 1.44 1,915,000 - - (1,915,000 ) - June 18, 2018 $ 1.46 250,000 - - (250,000 ) - June 29, 2018 $ 1.71 15,000 - - (15,000 ) - August 9, 2018 $ 1.91 491,000 - - (491,000 ) - September 15, 2018 $ 1.85 170,000 - - (170,000 ) - December 11, 2018 $ 0.72 590,000 - (575,000 ) (i) (15,000 ) - December 11, 2018 $ 1.68 150,000 - - (150,000 ) - December 11, 2018 $ 1.80 20,000 - - (20,000 ) - January 2, 2019 $ 1.04 375,000 - - - 375,000 March 17, 2019 $ 1.35 207,000 - - - 207,000 May 4, 2019 $ 1.99 175,000 - - - 175,000 May 19, 2019 $ 1.84 75,000 - - - 75,000 June 12, 2019 $ 1.89 75,000 - - - 75,000 July 2, 2019 $ 1.32 150,000 - - - 150,000 July 2, 2019 $ 1.19 60,000 - - - 60,000 July 2, 2019 $ 1.34 1,427,000 - - - 1,427,000 September 19, 2019 $ 1.40 1,160,000 - - - 1,160,000 April 10, 2020 $ 1.03 - 90,000 - - 90,000 April 30, 2020 $ 1.53 500,000 - - - 500,000 April 30, 2020 $ 1.14 100,000 - - - 100,000 April 30, 2020 $ 1.04 - 100,000 - - 100,000 June 8, 2020 $ 0.98 - 2,180,000 - - 2,180,000 September 30, 2020 $ 1.25 1,195,000 - - (100,000 ) 1,095,000 September 30, 2020 $ 0.83 - 106,000 - - 106,000 September 30, 2020 $ 0.79 - 170,000 - - 170,000 December 13, 2020 $ 0.86 - 762,000 - - 762,000 February 7, 2021 $ 1.11 - 300,000 - - 300,000 March 29, 2021 $ 1.08 - 400,000 - - 400,000 December 12, 2021 $ 1.00 - 200,000 - - 200,000 Options outstanding and exercisable 9,290,000 4,308,000 (575,000 ) (3,316,000 ) 9,707,000 Weighted average exercise price $ 1.39 $ 0.97 $ 0.72 $ 1.54 $ 1.19 (i) In accordance with the Company’s stock option plan, options holders exercised 552,000 $0.72. 64,094. The weighted average remaining life of stock options outstanding at December 31, 2018 1.24 2017 1.33 Expiry date Exercise December 31, Granted Exercised Expired December 31, January 6, 2017 $ 0.98 1,180,000 - (1,180,000 ) (i) - - May 4, 2017 $ 1.91 175,000 - (75,000 ) (100,000 ) - June 8, 2017 $ 1.98 75,000 - - (75,000 ) - August 26, 2017 $ 0.74 1,310,000 - (1,310,000 ) (i) - - September 11, 2017 $ 2.31 500,000 - - (500,000 ) - November 22, 2017 $ 2.22 100,000 - - (100,000 ) - April 4, 2018 $ 1.74 90,000 - - - 90,000 May 6, 2018 $ 1.41 100,000 - - - 100,000 June 8, 2018 $ 1.44 1,915,000 - - - 1,915,000 June 18, 2018 $ 1.46 250,000 - - - 250,000 June 29, 2018 $ 1.71 15,000 - - - 15,000 August 9, 2018 $ 1.91 491,000 - - - 491,000 September 15, 2018 $ 1.85 170,000 - - - 170,000 December 11, 2018 $ 0.72 724,000 - (134,000 ) (i) - 590,000 December 11, 2018 $ 1.68 150,000 - - - 150,000 December 11, 2018 $ 1.80 20,000 - - - 20,000 January 2, 2019 $ 1.04 375,000 - - - 375,000 March 17, 2019 $ 1.35 - 207,000 - - 207,000 May 4, 2019 $ 1.99 - 175,000 - - 175,000 May 19, 2019 $ 1.84 - 75,000 - - 75,000 June 12, 2019 $ 1.89 - 75,000 - - 75,000 July 2, 2019 $ 1.32 150,000 - - - 150,000 July 2, 2019 $ 1.19 60,000 - - - 60,000 July 2, 2019 $ 1.34 - 1,427,000 - - 1,427,000 September 19, 2019 $ 1.40 - 1,160,000 - - 1,160,000 April 30, 2020 $ 1.53 - 500,000 - - 500,000 April 30, 2020 $ 1.14 - 100,000 - - 100,000 September 30, 2020 $ 1.25 - 1,195,000 - - 1,195,000 Options outstanding and exercisable 7,850,000 4,914,000 (2,699,000 ) (775,000 ) 9,290,000 Weighted average exercise price $ 1.29 $ 1.39 $ 0.88 $ 2.21 $ 1.39 (j) In accordance with the Company’s stock option plan, options holders exercised 350,000; 1,150,000 92,000 $0.98, $0.74 $0.72, 532,836. The weighted average remaining life of stock options outstanding at December 31, 2017 1.33 2016 1.13 Expiry date Exercise December 31, Granted Exercised Expired / cancelled December 31, 2016 May 6, 2016 $ 1.33 65,000 - - (65,000 ) - June 8, 2016 $ 2.89 2,145,000 - - (2,145,000 ) - July 14, 2016 $ 1.37 130,000 - (120,000 ) (i) (10,000 ) - August 15, 2016 $ 2.57 150,000 - - (150,000 ) - October 10, 2016 $ 1.23 150,000 - (150,000 ) (i) - - January 6, 2017 $ 0.98 1,180,000 - - - 1,180,000 May 4, 2017 $ 1.91 200,000 - - (25,000 ) 175,000 June 8, 2017 $ 1.98 75,000 - - - 75,000 August 26, 2017 $ 0.74 1,445,000 - (135,000 ) - 1,310,000 September 11, 2017 $ 2.31 500,000 - - - 500,000 November 22, 2017 $ 2.22 100,000 - - - 100,000 April 4, 2018 $ 1.74 90,000 - - - 90,000 May 6, 2018 $ 1.41 - 100,000 - - 100,000 June 8, 2018 $ 1.44 - 1,915,000 - - 1,915,000 June 18, 2018 $ 1.46 250,000 - - - 250,000 June 29, 2018 $ 1.71 - 15,000 - - 15,000 August 9, 2018 $ 1.91 - 491,000 - - 491,000 September 15, 2018 $ 1.85 - 170,000 - - 170,000 December 11, 2018 $ 0.72 756,000 - (32,000 ) - 724,000 December 11, 2018 $ 1.68 - 150,000 - - 150,000 December 11, 2018 $ 1.80 - 20,000 - - 20,000 January 2, 2019 $ 1.04 375,000 - - - 375,000 July 2, 2019 $ 1.32 150,000 - - - 150,000 July 2, 2019 $ 1.19 - 60,000 - - 60,000 Options outstanding and exercisable 7,761,000 2,921,000 (437,000 ) (2,395,000 ) 7,850,000 Weighted average exercise price $ 1.65 $ 1.55 $ 1.08 $ 2.81 $ 1.29 (i) In accordance with the Company’s stock option plan, options holders exercised 105,000 150,000 $1.37 $1.23. 63,510. The weighted average fair value of options granted during the years ended December 31, 2018, 2017 2016, Weighted average assumptions used Number of options Date of grant Fair value per share Risk free interest rate Expected life Expected volatility Expected dividends 762,000 December 13, 2018 $ 0.24 1.89 % 2 49.38 % $Nil 200,000 December 12, 2018 $ 0.28 2.06 % 3 49.50 % $Nil 170,000 September 26, 2018 $ 0.25 2.19 % 2 47.93 % $Nil 106,000 August 15, 2018 $ 0.21 2.09 % 2 48.39 % $Nil 2,180,000 June 18, 2018 $ 0.29 1.85 % 2 51.53 % $Nil 100,000 May 7, 2018 $ 0.33 1.95 % 2 55.21 % $Nil 90,000 April 10, 2018 $ 0.31 1.85 % 2 55.18 % $Nil 400,000 March 29, 2018 $ 0.42 1.94 % 3 55.10 % $Nil 300,000 February 7, 2018 $ 0.48 1.99 % 3 64.14 % $Nil 1,195,000 December 22, 2017 $ 0.62 1.71 % 3 65.20 % $Nil 100,000 November 23, 2017 $ 0.50 1.46 % 3 63.93 % $Nil 500,000 September 12, 2017 $ 0.55 1.59 % 2.5 63.12 % $Nil 1,160,000 August 25, 2017 $ 0.48 1.24 % 2 62.80 % $Nil 75,000 June 12, 2017 $ 0.63 0.88 % 2 65.95 % $Nil 75,000 May 19, 2017 $ 0.60 0.72 % 2 65.65 % $Nil 175,000 May 4, 2017 $ 0.63 0.71 % 2 65.77 % $Nil 207,000 March 17, 2017 $ 0.47 0.80 % 2 61.28 % $Nil 1,427,000 January 11, 2017 $ 0.54 0.75 % 2 68.94 % $Nil 60,000 December 21, 2016 $ 0.42 0.83 % 2 70.18 % $Nil 20,000 November 2, 2016 $ 0.69 0.54 % 2 68.31 % $Nil 150,000 October 6, 2016 $ 0.57 0.60 % 2 68.47 % $Nil 170,000 September 15, 2016 $ 0.70 0.58 % 2 68.08 % $Nil 491,000 August 9, 2016 $ 0.76 0.50 % 2 67.52 % $Nil 15,000 June 29, 2016 $ 0.87 0.54 % 2 66.44 % $Nil 1,915,000 June 8, 2016 $ 0.62 0.54 % 2 64.68 % $Nil 100,000 May 6, 2016 $ 0.52 0.54 % 2 63.84 % $Nil Total share-based payments expenses as a result of options granted and vested during the year ended December 31, 2018 $1,308,740 2017 2,693,070 2016 $1,869,010 |