December 31, 2019

March 31, 2019

Number of

Number of

shares

$

shares

$

Exchangeable Shares

Balance beginning of period

196,799

197

295,146

295

Converted into common shares (a)

(57,210)

(57)

(98,347)

(98)

Balance at end of period

139,589

140

196,799

197

Common Shares

Balance at beginning of the period

3,661,838

3,661

1,368,856

1,369

Shares issued to exchangeable shareholders (a)

57,210

57

98,347

98

Shares issued on conversion of loans (b)

1,268,191

1,268

2,194,133

2,194

Share consolidation rounding adjustment (c)

 6

 —

502

 —

Balance at end of the period

4,987,245

4,986

3,661,838

3,661

TOTAL SHARES

5,126,834

5,126

3,858,637

3,858

(a)

During the nine months ended December 31, 2019 57,210 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. During the year ended March 31, 2019, after the increase of the number of authorized shares to 500,000,000, the company issued the outstanding 263,639 common shares related to the March 31, 2018 promissory note conversion. In addition, there was a $2,048,697 gain recorded in the year connected to the difference of the market value of the shares, outstanding options and warrants at March 31, 2018 and their value at June 12, 2018, the time of the authorized share increase and share issuance. On July 20, 2018 the Company converted $4,708,306 of notes payable and interest into 683,395 common shares and on March 28, 2019 the Company converted $4,848,117 of notes payable and interest into 1,247,099 common shares.

(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.