Short-Term Investment

6 Months Ended

Oct. 31, 2016

Short-Term Investment [Abstract]

Short-term investment

5. Short-term investment

On August 18, 2015 the Company invested $600,000 CAD ($ 459,000 USD) in a One Year Cashable Guaranteed Investment Certificate (GIC) term deposit. The investment had a one year term that matured on August 18, 2016 and bears interest at a rate of 0.672% per annum.

On March 14, 2016 the Company withdrew $200,000 CAD ($ 150,000 USD) from the GIC and received interest of $770 CAD ($ 576 USD). The remaining $ 400,000 CAD ($ 307,000 USD) continued to earn interest at a rate of 0.672% per annum until its maturity on August 18, 2016. The Company has recognized interest of $ 802 CAD ($ 616 USD) to October 31, 2016. The Company no longer has any short-term investments as at October 31, 2016.