September 30, 2019

March 31, 2019

Number of

Number of

shares

$

shares

$

Exchangeable Shares

Balance beginning of year

196,799

197

295,146

295

Converted into common shares (a)

(40,560)

(41)

(98,347)

(98)

Balance at end of year

156,239

156

196,799

197

Common Shares

Balance at beginning of the year

3,661,838

3,661

1,368,856

1,369

Shares issued to exchangeable shareholders (a)

40,560

41

98,347

98

Shares issued on conversion of loans

1,268,191

1,268

2,194,133

2,194

Share consolidation rounding adjustment

 6

 —

502

 —

Balance at end of the year

4,970,595

4,970

3,661,838

3,661

TOTAL SHARES

5,126,834

5,126

3,858,637

3,858

(a)

During the six months ended September 30, 2019, 40,560 exchangeable shares were exchanged for common shares on a 1 for 1 basis in accordance with their terms. (March 31, 2019 – 98,347 shares)

(b)

On September 30, 2019 $9,143,927 of promissory notes and interest were converted into 1,268,191 common shares. These shareholders have price protection until June 10, 2022.

(c)

On October 29, 2018, the Company completed a one-for-one hundred and fifty (1:150) reverse stock consolidation that has been reflected in all shares and per share amounts, warrants and options.