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Share Capital, Warrants and Options (Tables) | 3 Months Ended
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Mar. 31, 2019
SHARE CAPITAL, WARRANTS AND OPTIONS |
Schedule of Number and Weighted Average Exercise Prices of Warrants | A summary of common share purchase warrants activity during the three months period ended March 31, 2019 is as follows:
|  | March 31, 2019 |  |  | December 31, 2018 |
|  | Number Outstanding |  |  | Weighted Average Exercise Price |  |  | Number Outstanding |  |  | Weighted Average Exercise Price |
Outstanding, beginning of the period |  |  | 257,972,836 |  |  |  | 0.12 |  |  |  | 176,175,413 |  |  |  | 0.12 |
Issued |  |  | - |  |  |  | - |  |  |  | 116,666,664 |  |  |  | 0.12 |
Cancelled / Expired |  |  | - |  |  |  | - |  |  |  | (34,869,241 | ) |  |  | 0.12 |
Outstanding, end of the period |  |  | 257,972,836 |  |  |  | 0.12 |  |  |  | 257,972,836 |  |  |  | 0.12 |
Schedule of Number and Weighted Average Remaining Contractual Life of Outstanding Warrants | At March 31, 2019, the Company had outstanding common share purchase warrants exercisable to acquire common shares of the Company as follows:
Warrants Outstanding |  |  | Expiry Date |  | Exercise Price ($) |  |  | Weighted Average remaining contractual life (years) |
| 72,515,414 |  |  | June 8, 20191 |  |  | 0.12 |  |  |  | 0.05 |
| 1,965,083 |  |  | June 8, 2019 |  |  | 0.075 |  |  |  | 0.00 |
| 46,334,451 |  |  | July 21, 20191,2 |  |  | 0.12 |  |  |  | 0.06 |
| 20,491,224 |  |  | August 15, 2019 |  |  | 0.12 |  |  |  | 0.03 |
| 116,666,664 |  |  | April 19, 2020 |  |  | 0.12 |  |  |  | 0.48 |
| 257,972,836 |  |  |  |  |  |  |  |  |  | 0.62 |
1 The warrants are subject to an acceleration clause such that if the volume-weighted average trading price of the Company’s common shares on the TSX-V exceeds $0.18 per common share for a period of 10 consecutive trading days at any date before the expiration date of such warrants, the Company may, at its option, accelerate the warrant expiry date to within 30 days. To December 31, 2018, the Company’s common shares have not met the criterion for acceleration. 2 On September 1, 2018, the TSXV approved an extension of the term of the warrants from July 21, 2018 to July 21, 2019. All other terms, including the exercise price, remain the same.
Schedule of Number and Weighted Average Exercise Prices of Share Options | A summary of option activity under the Plan during the three months period ended March 31, 2019 is as follows:
|  | March 31, 2019 |  | December 31, 2018 |
|  | Number Outstanding |  |  | Weighted Average Exercise Price |  |  | Number Outstanding |  |  | Weighted Average Exercise Price |
Outstanding, beginning of the period |  |  | 25,945,500 |  |  |  | 0.18 |  |  |  | 20,720,500 |  |  |  | 0.23 |
Issued |  |  | - |  |  |  | - |  |  |  | 6,425,000 |  |  |  | 0.12 |
Cancelled / Expired |  |  | - |  |  |  | - |  |  |  | (1,200,000 | ) |  |  | 0.18 |
Outstanding, end of the period |  |  | 25,945,500 |  |  |  | 0.18 |  |  |  | 25,945,500 |  |  |  | 0.18 |
Schedule of Inputs to Option Pricing Model | The fair value of stock options granted and vested during the period ended March 31, 2018 was calculated using the following assumptions:
|  | March 31, 2019 |  |  | March 31, 2018 |
Expected dividend yield |  |  | - |  |  |  | 0 | %
Expected share price volatility |  |  | - |  |  |  | 96.9 | %
Risk free interest rate |  |  | - |  |  |  | 2.04 | %
Expected life of options |  |  | - |  |  |  | 5 years |
Schedule of Number and Weighted Average Remaining Contractual Life of Outstanding Share Options | Details of options outstanding as at March 31, 2019 are as follows:
Options Outstanding |  |  | Options Exercisable |  |  | Expiry Date |  | Exercise Price |  |  | Weighted average remaining contractual life (years) |
| 2,440,000 |  |  |  | 2,440,000 |  |  | Jul 9, 2019 |  |  | 0.62 |  |  |  | 0.03 |
| 200,000 |  |  |  | 200,000 |  |  | Aug 27, 2019 |  |  | 0.37 |  |  |  | 0.00 |
| 100,000 |  |  |  | 100,000 |  |  | Sep 26, 2019 |  |  | 0.26 |  |  |  | 0.00 |
| 350,000 |  |  |  | 350,000 |  |  | Nov 5, 2019 |  |  | 0.21 |  |  |  | 0.01 |
| 1,000,000 |  |  |  | 1,000,000 |  |  | Dec 19, 2019 |  |  | 0.22 |  |  |  | 0.03 |
| 900,000 |  |  |  | 900,000 |  |  | Feb 3, 2020 |  |  | 0.275 |  |  |  | 0.03 |
| 450,000 |  |  |  | 450,000 |  |  | Oct 5, 2020 |  |  | 0.20 |  |  |  | 0.03 |
| 5,443,000 |  |  |  | 5,443,000 |  |  | Jan 28, 2021 |  |  | 0.21 |  |  |  | 0.38 |
| 7,637,500 |  |  |  | 7,637,500 |  |  | Feb 21, 2022 |  |  | 0.12 |  |  |  | 0.85 |
| 1,000,000 |  |  |  | 1,000,000 |  |  | Dec 20, 2022 |  |  | 0.12 |  |  |  | 0.14 |
| 5,725,000 |  |  |  | 5,725,000 |  |  | Feb 28, 2023 |  |  | 0.12 |  |  |  | 0.86 |
| 500,000 |  |  |  | 500,000 |  |  | May 1, 2023 |  |  | 0.12 |  |  |  | 0.08 |
| 200,000 |  |  |  | 200,000 |  |  | May 4, 2023 |  |  | 0.12 |  |  |  | 0.03 |
| 25,945,500 |  |  |  | 25,945,500 |  |  |  |  |  |  |  |  |  | 2.47 |

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