Share Purchase Warrants

9 Months Ended

Mar. 31, 2015

NOTE 9 – SHARE PURCHASE WARRANTS

On March 14, 2014, the Company entered into securities purchase agreements to raise a total $300,000 with three accredited investors introduced by Palladium to the Company. Under the terms of the SPA, the purchasers subscribed for a total of 3,750,000 shares of the common stock of the Company at $0.08 per share and an equal number of warrants exercisable at $0.15 per share for a period of five years. (see note 6 above).

As at March 31, 2015, the Company had the following warrants outstanding:

Exercise Price			Expiry Date		Weighted Average Remaining Contractual Life (Years)				Outstanding at June 30, 2014				Issued				Exercised				Waived				Expired				Outstanding at March 31, 2015
$	0.15		March 14, 2019			3.9				4,012,500				-				-				-				-				4,012,500