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Share Purchase Warrants

6 Months Ended

Jun. 30, 2013

Share Purchase Warrants

The following table summarizes the continuity of share purchase warrants:


	Number of warrants	Weighted average exercise price $

Balance, December 31, 2012	–	–

Outstanding warrants of the Company prior to reverse merger	31,789,125	0.83

Balance, June 30, 2013	31,789,125	0.83

As at June 30, 2013, the following share purchase warrants were outstanding:


Number of warrants	Exercise price $	Expiry date

10,596,375	0.50	July 31, 2014
21,192,750	1.00	July 31, 2014

31,789,125

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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