Warrants

3 Months Ended

Apr. 30, 2017

Warrants

Warrants

NOTE 6 – Warrants

As of April 30, 2017, there were 138,419,886 whole share purchase warrants outstanding and exercisable. The warrants have a weighted average remaining life of 3.28 years and a weighted average exercise price of $0.006 per whole warrant for one common share. The warrants had an aggregate intrinsic value of $108,956 as of April 30, 2017.

Whole share purchase warrants outstanding at April 30, 2017 are as follows:

	Number of		Weighted average
	whole share		exercise
	purchase warrants		price per share
Outstanding, January 31, 2017		130,682,120	$	0.006
Issued		7,737,766		0.003
Expired		—		—
Exercised		—		—
Outstanding, April 30, 2017		138,419,886	$	0.006
Exercisable, April 30, 2017		138,419,886	$	0.006

During the three months ended April 30, 2017, the Company issued 7,737,766 warrants to investors at exercise prices ranging from $0.0028 to $0.0036 with a three-year term. The warrants were issued with common stock (one-half warrant for each common share purchased) and there is no additional accounting for these investor warrants.