Share Purchase Warrants

9 Months Ended

Dec. 31, 2019

Share Purchase Warrants [Abstract]

Share Purchase Warrants

15. Share Purchase Warrants

	Number of warrants			Weighted average exercise price $
Balance, March 31, 2018		1,500,000			1.00
Issued		3,300,000			2.50
Exercised		(500,000	)		1.00
Balance, March 31, 2019		4,300,000			2.15
Settled with warrant holder		(1,000,000	)		1.00
Balance, December 31, 2019		3,300,000			2.50

On November 10, 2019, the Company entered into an agreement with a warrant holder for the settlement of 1,000,000 share purchase warrants, with an exercise price of $1.00 per share and expiry of November 23, 2019. Under the terms of the settlment agreement, the Company will pay $750,000 for the surrender and cancellation of these warrants, with $375,000 due on November 17, 2019 (Paid) and $375,000 due by January 2, 2020 (Subsequently paid)(Note 13).

As at December 31, 2019, the following share purchase warrants were outstanding:

Number of warrants outstanding		Exercise price $		Expiry date
	3,300,000		2.50	July 1, 2020
	3,300,000