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SUBSEQUENT EVENTS | 12 Months Ended
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Mar. 31, 2015
SUBSEQUENT EVENTS [Text Block] |
11. | SUBSEQUENT EVENTS
The Company has evaluated subsequent events through the date of the issuance of the financial statements. On April 30, 2015 the Company closed a non-brokered private placement (the "Financing") raising gross proceeds of CAD $2,208,110 (approximately USD $1,825,937) by the issuance of 849,273 units (each a "Unit") at a price of CAD $2.60 per Unit (USD $2.15 per Unit). Each Unit consists of one (1) common share and one half of one (1/2) common share purchase warrant (each a "Warrant"). Each whole Warrant entitles the holder thereof to purchase one additional common share of the Company at a price of approximately CAD $3.62 per share (USD $3.00 per share) for a period of thirty-six (36) months from the closing date of the Financing. The Company paid a cash finder’s fee of CAD101,494 (USD $84,074) in connection with this Financing, as well as 27,396 finder’s warrants (the "Finder’s Warrants"). Each Finder’s Warrant entitles the holder thereof to purchase one additional common share of the Company at a price of CAD $3.62 per share (USD $3.00 per share) for a period of thirty-six (36) months from the closing date of the Financing. On April 29, 2015, 14,400 finder’s warrants were exercised for gross proceeds of CAD $14,400.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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