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Capital Stock
12 Months Ended
Dec. 31, 2019
Stockholders' Equity Note [Abstract]  
Capital Stock [Text Block]

19. Capital Stock

As at December 31, 2019, the Company had 150,000,000 common shares authorized with a par value of $.0001 per share and 51,784,504 (2018-40,299,531) common shares issued and outstanding.

 

During the year ended December 31, 2019, the Company raised $nil (2018-$650,240) cash on a private placement, net of share issue costs of $nil (2018-$46,260), on the issuance of nil (December 31, 2018-696,500) common shares of the Company. In addition, during the year, the Company issued 5,000 (2018-190,000) common shares of the Company, in regard to the $4,600 cash received from a private placement prior to December 31, 2019 net of share issue costs of $400 (2018-$178,200 cash received from a private placement prior to December 31, 2017, net of share issue costs of $11,800). On January 21, 2019, the Company issued 100,000 common shares for professional services in the amount of $53,000, based on the closing trading price on the day immediately prior to issuance and on April 2, 2019, the Company issued 80,000 common shares to directors of the Company as compensation for their 2018 services, in the amount of $39,200, based on the closing trading price on the day immediately prior to issuance. The services provided by directors are disclosed under directors' compensation in the consolidated statements of operations and comprehensive loss. In addition, the Company issued 5,000 common shares each to two employees for their services, in the amount of $400, based on the closing trading price for the day immediately prior to issuance.  In the prior year, the Company issued 20,000 common shares to a new director as an incentive to join the Board, determined to be valued at $20,000, based on private placement pricing at the time.
 

During the year ended December 31,2019, the 2019 January Investors, the 2019 March Investors and the 2019 May Investor converted a portion of their unsecured convertible promissory notes, including accrued interest and related costs of $21,162, a total of $269,780 for 9,289,973 common shares at per share conversion prices ranging from $0.0176 to $0.0910 per share.

In the prior year, all non-cash transactions were valued based on the proceeds of a private placement at the time.

In addition, on each of May 29, 2018 and January 8, 2019, the Company issued 1,000,000 common shares of the Company to the President, in exchange for 1,000,000 RSUs on each date, granted under the President's consulting agreement, effective January 1, 2017. Based on private placement pricing at the time, each of the President's RSUs was valued at $1 or $1,000,000 on each exchange of 1,000,000 RSUs. And, on each of February 25, 2018 and April 2, 2019, the Company issued 1,000,000 common shares of the Company to the Former CEO, in exchange for 1,000,000 RSUs on each date, granted under the Former CEO's consulting agreement, effective January 1, 2017. Based on private placement pricing at the time, each of the Former CEO's RSUs was valued at $0.33 or $330,000. This compensation, when vested, is disclosed as management compensation-share based in the consolidated statements of operations and comprehensive loss.