Derivative Liability (Tables)

9 Months Ended

Sep. 30, 2016

Schedule of Derivative Liability for Share Purchase Warrants [Table Text Block]

As of September 30, 2016, the changes of derivative liability for share purchase warrants are as follows: 

	September 30, 2016
Fair value at inception	$	-
Fair value of warrants granted		2,701,288
Change in fair value of warrants		(535,738)
Balance, end of the period	$	2,165,550

Derivative Financial Instruments, Liabilities [Member]

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]

As at September 30, 2016, the Company had re-measured the share purchase warrants and determined the fair value of the derivative liability to be $2,165,550 using the Black-Scholes option pricing model with the following assumptions:

	September 30, 2016
Risk-free interest rate		0.51	%
Expected life of derivative liability in years		2.82
Expected volatility		84.29	%
Dividend rate		0.00	%