Quarterly report pursuant to Section 13 or 15(d)

SHARE CAPITAL (Tables)

v3.7.0.1
SHARE CAPITAL (Tables)
3 Months Ended
Jun. 30, 2017
Stockholders' Equity Note [Abstract]  
Schedule of Stockholders Equity [Table Text Block]
 
 
June 30, 2017
 
March 31, 2017
 
 
 
Number of
 
 
 
Number of
 
 
 
 
 
shares
 
$
 
shares
 
$
 
Exchangeable Shares:
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance beginning of period/year
 
 
47,909,336
 
 
47,910
 
 
50,000,000
 
 
50,000
 
Converted into common shares
 
 
-
 
 
-
 
 
(2,090,664)
 
 
(2,090)
 
Balance at the end of period/year
 
 
47,909,336
 
 
47,910
 
 
47,909,336
 
 
47,910
 
Common Shares
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at beginning of the period
 
 
48,885,107
 
 
48,884
 
 
22,591,292
 
 
22,591
 
Shares issued on acquisition (Note 3)
 
 
-
 
 
-
 
 
23,650,000
 
 
23,650
 
Shares issued to exchangeable shares
 
 
-
 
 
-
 
 
2,090,664
 
 
2,090
 
Shares issued for services
 
 
-
 
 
-
 
 
217,047
 
 
217
 
Options exercised
 
 
-
 
 
-
 
 
110,096
 
 
110
 
Warrants exercise (a)
 
 
5,000,172
 
 
5,000
 
 
174,759
 
 
175
 
Cashless exercise of warrants
 
 
-
 
 
-
 
 
51,249
 
 
51
 
Balance at end of the period
 
 
53,885,279
 
 
53,884
 
 
48,885,107
 
 
48,884
 
TOTAL COMMON SHARES
 
 
101,794,615
 
 
101,794
 
 
96,794,443
 
 
96,794
 
 
(a)
During the three month period ended June 30, 2017, the Company consummated an offer to amend and exercise  to its warrant holders, enabling them to exercise their outstanding warrants for $0.25 per share, and as a result, 5,000,172 common shares were issued for net proceeds of $1,125,038 (Note 11).
 
(b)
During the three month period ended June 30, 2016, 51,249 common shares were issued as a result of a cashless exercise of 262,045 warrants with an exercise price of $0.80. Under the terms of the warrant agreement the value of the warrants on exercise is attributed to the shares on exercise and the Company has recognized a value of $43,562.
 
(c)
The Company issued 70,000 common shares during the three month period ended June 30, 2016 for consulting services and recognized $59,500 of share compensation expense.