5. Stockholder's Equity

9 Months Ended

Sep. 30, 2015

Equity [Abstract]

Stockholder's Equity

(a)        Common stock issuances:

During the quarter ended June 30, 2015, the Company listed on the TSX Venture Exchange with the shares commencing trading on July 2, 2015. The Company incurred listing expenses relating to legal fees, underwriting fees and exchange listing fees of  $130,960 in its listing on the TSX Venture Exchange.

During the quarter ended September 30, 2015, the holders of stock options exercised their options for 515,000 shares for $77,250 at an exercise price of $0.15 per share.

(b)        Stock option plans:

During the quarter ended September 30, 2015, the holders of stock options exercised their options for 515,000 shares for proceeds of $77,250 at an exercise price of $0.15 per share and 5,000 options expired unexercised. There were no stock options issued and outstanding as at September 30, 2015. 

(c)        Escrow shares

In conjunction with the Listing Application for the TSX-V listing, the Company’s major shareholders were required to place 33,909,104 common shares of the Company in escrow under the terms of a TSX-V Tier 1 issuer. The Escrow Shares will be released in thirty three percent (33%) tranches on the dates that are six, twelve and eighteen months after the listing date as follows:

	Number of shares
Balance July 1, 2015	33,909,104
Released in the quarter ending September 30, 2015	-
Balance September 30, 2015	33,909,104
Shares eligible for release in 2015	(11,303,035)
Balance December 31, 2015	22,606,069
Shares eligible for release in 2016	(22,606,069)
Balance December 31, 2016	-