7. Share Purchase Warrants

3 Months Ended

Dec. 31, 2017

Notes

7. Share Purchase Warrants

7.     Share Purchase Warrants

In December 2017, the Company granted 1,000,000 share purchase warrants to a consultant of the Company for professional services. The warrants are exercisable into common shares at $0.10 per share for a period of five years. The fair value of the share purchase warrants was $101,310 calculated using the Black-Scholes Option Pricing Model assuming volatility of 154%, risk-free rate of 1.0%, expected life of 5 years, and no expected dividends.

	Number of warrants	Weighted average exercise price $
Balance, September 30, 2017	2,742,000	0.07
Issued	1,000,000	0.10
Balance, December 31, 2017	3,742,000	0.08

Additional information regarding cashless warrants as of December 31, 2017, is as follows:

	Outstanding and exercisable
Range of Exercise Prices $	Number of Warrants	Weighted Average Remaining Contractual Life (years)
0.001	2,000,000	4.3
0.10	1,000,000	4.9
0.15	500,000	4.3
0.50	242,000	3.7
	3,742,000