Financial instruments (Tables)

12 Months Ended

Dec. 31, 2014

Financial Instruments Tables

Fair value of non-derivative instruments balance

Year ended December 31	2014			2013			2012
Fair value of US$ Warrants
Balance at beginning of the year	$	1,238,000		$	241,000		$	-
Value attributed to US$ Warrants issued in		-			-			-
the 2012 Financings (see note 7 (iii))		-			-			409,143
Transfer to common shares upon
exercise of US$ Warrants in the year		(1,280,800	)		(374,500	)		-
Increase (decrease) in fair value during the year		42,800			1,371,500			(168,143	)
Fair value of US$ Warrants, end of the year		-			1,238,000			241,000

Value attributed to warrants

As at December 31	2014		2013			2012
Expected dividends paid per common share		n/a	Nil			Nil
Expected life in years		n/a		0.3			1.0
Expected volatility in the price of common shares		n/a		65	%		80	%
Risk free interest rate		n/a		1.0	%		1.2	%
Weighted average fair market value per US$ Warrant issued during the year		n/a		n/a		$	US 0.08