Quarterly report pursuant to Section 13 or 15(d)

SHARE CAPITAL (Tables)

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SHARE CAPITAL (Tables)
3 Months Ended
Jun. 30, 2018
Stockholders' Equity Note [Abstract]  
Schedule of Stockholders Equity [Table Text Block]
   
June 30, 2018
   
March 31, 2018
 
   
Number of
         
Number of
       
 
shares
   
$
   
shares
   
$
 
Exchangeable Shares:
                       
Balance beginning of year     44,271,880       44,273       47,909,336       47,910  
Converted into common shares (a)     (3,000,000 )     (3,000 )     (3,637,456 )     (3,637 )
Balance at the end of period     41,271,880       41,273       44,271,880       44,273  
Common Shares
                               
Balance at beginning of the period     205,328,106       205,326       48,885,107       48,884  
Shares issued to exchangeable shares     3,000,000       3,000       3,637,456       3,637  
Shares issued on conversion of loans (b)     39,545,776       39,546       147,805,371       147,805  
Warrants exercised     -       -       5,000,172       5,000  
Balance at end of the period     247,873,882       247,872       205,328,106       205,326  
TOTAL SHARES
    289,145,762       289,145       249,599,986       249,599  
 
a.
During the three month period ended June 30, 2018, 3,000,000 exchangeable shares were exchanged on a 1 for 1 basis in accordance with their terms. (March 31, 2018 – 3,637,456).
 
b. During the three month period ended June 30, 2018, 39,545,776 shares of common stock were issued once the Company increased its authorized shares of common stock from 250,000,000 to 500,000,000. These shares relate to convertible loans and interest that converted on March 31, 2018 and were recorded as a liability on March 31, 2018 until the shares were issued on June 12, 2018. The liability was reclassified at June 12, 2018 into equity by recording the original value of $2,470,622 of the shares to be issued, as well as the fair value of options and warrants at June 12, 2018 net of fair value of options issued in the period ended June 12, 2018 of $1,173,534, which was charged to equity and a $2,048,697 gain on the fair value reevaluation was recognized as other income in the Statement of Operations and Comprehensive Loss.