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Subsequent Events
12 Months Ended
Dec. 31, 2011
Subsequent Events  
Subsequent Events

12.  Subsequent Events

 

Subsequent to the period end the Company has received subscription agreements in respect of 368,150 common shares at a price of $1.75 per share for a total of $644,250 before expenses as part of an ongoing private placement. To date $594,030 has been received in respect of these subscriptions. Each subscriber is also entitled to one warrant to purchase one common share at a price of $2.60 for every two shares subscribed for. The warrants expire on the fourth anniversary of the placement closing date.