Share Capital (Tables)

9 Months Ended

Sep. 30, 2016

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

As at September 30, 2016, the aggregate intrinsic value of the outstanding exercisable options was $171,000 (December 31, 2015 - $Nil).

 

	Shares		Weighted Average Exercise Price per Share
Options outstanding and exercisable, December 31, 2014		750,000	$	1.29
Options granted		570,000	$	0.58
Options forfeited		(250,000)	$	1.18
Options outstanding, December 31, 2015		1,070,000	$	0.94
Options exercisable, December 31, 2015		976,667	$	0.97
Options outstanding, September 30, 2016		1,070,000	$	0.94
Options exercisable, September 30, 2016		1,023,334	$	0.96

Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable [Table Text Block]

The following table summarizes information about stock options outstanding and exercisable at September 30, 2016:

Expiry Date	Number Outstanding		Number Exercisable		Remaining Contractual Life (Years)		Exercise Price
June 3, 2018		50,000		50,000		1.67	$	1.16
September 3, 2018		150,000		150,000		1.93	$	1.59
September 18, 2018		300,000		300,000		1.97	$	1.26
September 8, 2020		570,000		523,334		3.94	$	0.58
Balance, September 30, 2016		1,070,000		1,023,334		3.00

Warrant [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]

The fair value of the warrants was determined using the Black-Scholes option pricing model with the following assumptions:

	2016
Expected life years	3.00
Interest rate	0.58%
Volatility	87.29%
Dividend yield	Nil

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]

The following is a summary of common share purchase warrants activity:

	September 30,2016		December 31,2015
Balance, beginning of period		10,000,000		-
Issued		6,317,700		10,000,000
Balance, end of period		16,317,700		10,000,000

*Included in the warrants issued are 757,700 non-tradable share purchase warrants issued to brokers.

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other Than Options, Outstanding and Exercisable [Table Text Block]

The following table summarizes information about share purchase warrants outstanding and exercisable at September 30, 2016:

Expiry Date	Number Outstanding		Remaining Contractual Life (Years)	Exercise Price
June 8, 2020		10,000,000	3.69	$	0.95
July 25, 2019		6,317,700	2.82	C$	2.00