SHARE CAPITAL AND RESERVES (Tables)

12 Months Ended

Dec. 31, 2018

Summary of Stock Option Transactions and the Number of Stock Options

Stock option transactions and the number of stock options are summarized as follows:


	Number of Stock Options			Weighted Average Exercise Price
Outstanding at December 31, 2016		33,466,112		$	1.06
Granted		6,200,000			3.27
Exercised		(1,424,445	)		0.79
Forfeited		(383,333	)		2.53

Outstanding at December 31, 2017		37,858,334		$	1.42
Granted		9,045,482			2.64
Exercised		(10,458,334	)		0.49
Forfeited		(208,334	)		3.23

Outstanding at December 31, 2018		36,237,148		$	1.98

Number of options exercisable		28,373,492		$	1.76

Summary of Company's Stock Options Outstanding and Exercisable

As at December 31, 2018, the Company has stock options outstanding and exercisable as follows:


Number of Options		Number Exercisable		Exercise Price		Remaining Contractual Life (Years)		Expiry Date
	33,333		33,333	$	2.24		0.07	January 25, 2019
	8,333		8,333	$	3.39		0.07	January 25, 2019
	150,000		150,000	$	0.46		0.16	February 28, 2019
	50,000		50,000	$	0.50		0.16	February 28, 2019
	75,000		75,000	$	0.64		0.16	February 28, 2019
	50,000		50,000	$	2.65		0.16	February 28, 2019
	25,000		25,000	$	2.24		0.16	February 28, 2019
	25,000		25,000	$	3.39		0.16	February 28, 2019
	250,000		250,000	$	0.64		0.29	April 15, 2019
	800,000		800,000	$	2.65		0.29	April 15, 2019
	475,000		475,000	$	2.24		0.29	April 15, 2019
	475,000		475,000	$	3.39		0.29	April 15, 2019
	2,450,000		2,450,000	$	0.40		0.39	May 23, 2019
	3,300,000		3,300,000	$	0.46		0.98	December 24, 2019
	2,850,000		2,850,000	$	0.50		1.41	May 27, 2020
	3,250,000		3,250,000	$	0.64		1.96	December 16, 2020
	250,000		250,000	$	2.69		2.44	June 8, 2021
	4,425,000		4,425,000	$	2.65		2.48	June 23, 2021
	2,750,000		2,750,000	$	2.24		2.96	December 15, 2021
	250,000		166,667	$	3.11		3.31	April 22, 2022
	1,475,000		983,333	$	2.93		3.87	November 13, 2022
	3,775,000		2,516,667	$	3.39		3.96	December 14, 2022
	475,000		158,333	$	2.39		4.28	April 13, 2023
	4,525,000		1,508,333	$	2.85		4.44	June 8, 2023
	100,000		33,333	$	2.66		4.47	June 20, 2023
	720,482		240,160	$	2.49		4.64	August 21, 2023
	3,225,000		1,075,000	$	2.41		5.00	December 31, 2023

36,237,148		28,373,492

Summary of Weighted Average Grant Date Fair Values

The following weighted average assumptions were used to estimate the weighted average grant date fair values for the years ended December 31, 2018 and December 31, 2017:


	December 31, 2018			December 31, 2017
Expected stock price volatility		83.41	%		81.72	%
Expected life of options		5.00 years			5.00 years
Risk free interest rate		2.08	%		1.53	%
Expected forfeitures		0	%		0	%
Expected dividend yield		0	%		0	%
Weighted average fair value per option granted	$	1.76		$	2.13