CONVERTIBLE DEBENTURES (Tables)

12 Months Ended

Jun. 30, 2016

CONVERTIBLE DEBENTURES [Abstract]

Assumptions used in determining weighted average fair value of derivative financial liabilities

The following assumptions were used in determining the fair value of the derivative liabilities at inception during the year ended:

	June 30, 2016
Share price		0.16 – 0.50
Conversion price		0.11 – 0.37
Expected life (years)		0.78 – 2.00
Interest rate		0.42 - 0.63	%
Volatility		76.39 – 101.5	%
Dividend yield		N/A
Estimated forfeitures		N/A

The following assumptions were used in determining the fair value of the derivative financial liabilities as of:

	June 30, 2016			June 30, 2015
Share price		0.16			0.64
Conversion price		0.11			0.39
Expected life (years)		0.850 – 1.25			0.27
Interest rate		0.45 - 0.50	%		0.58	%
Volatility		91.50 – 122.29	%		65.73	%
Dividend yield		N/A			N/A
Estimated forfeitures		N/A			N/A

The following assumptions were used in determining the fair value of the derivative warrant liability as of:

	June 30, 2016			June 30, 2015
Share price		0.16			N/A
Conversion price	$	0.0915			N/A
Expected life (years)		1.85			N/A
Interest rate		0.58	%		N/A
Volatility		92	%		N/A
Dividend yield		N/A			N/A
Estimated forfeitures		N/A			N/A