Note 9 - Subsequent Event

3 Months Ended

Mar. 31, 2021

Notes to Financial Statements

Subsequent Events [Text Block]

9. SUBSEQUENT EVENT   

Subsequent to

March 31, 2021,

the Company closed a non-brokered private placement financing of

4,900,000

units of the Company at a price of

CDN$0.80

per unit for gross proceeds of

CDN$3,920,000.

Each unit consisted of

one

common share of the Company and

one

common share purchase warrant, with each warrant entitling the holder to acquire

one

additional common share of the Company at an exercise price of CDN

$1.00

for a period of

24

months from the date of closing. The expiry date of the warrants

may

be accelerated at the Company's discretion if, the closing price of the Shares on the TSX Venture Exchange is equal to or greater than CDN

$2.50

for a minimum of

ten

consecutive trading days and a notice of acceleration is provided in accordance with the terms of the warrant.