7. Share Purchase Warrants

9 Months Ended

Jun. 30, 2018

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	0.05
Issued	1,000,000	0.10
Exercised	(666,666)	0.001
Balance, June 30, 2018	3,075,334	0.10

Additional information regarding share purchase warrants as of June 30, 2018, is as follows:

	Outstanding and exercisable
Range of Exercise Prices $	Number of Warrants	Weighted Average Remaining Contractual Life (years)
0.001	1,333,334	3.6
0.10	1,000,000	4.4
0.15	500,000	3.6
0.50	242,000	3.2
	3,075,334	3.9