6. Stockholders' Equity

9 Months Ended

Sep. 30, 2016

Equity [Abstract]

Stockholders' Equity

(a)        Common stock issuances:

No shares were issued during the quarter ended September 30, 2016.

During the quarter ended June 30, 2016, the Company closed two private placements for 3,337,934 common shares at $0.60 per share which raised proceeds of CAD$ 2,002,760, net of issuance costs of $49,124.

Subsequent to the quarter ended September 30, 2016, the Company closed its rights issued raising CAD$107,168 from the issuance of 172,681 common shares at an average price of CAD$0.626 per share.

(b)        Stock option plans:

No options were granted or exercised during the period ended September 30, 2016.

(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. 11,303,035 was released during the year end December 31, 2015. The Escrow Shares will be released as follows:

	Number of shares
Balance December 31, 2015	22,606,069
Released in the quarter ending June 30, 2016	(11,303,035)
Balance June 30, 2016	11,303,034
Release in the quarter ending September 30, 2016	-
Balance September 30, 2016	11,303,034
Shares eligible for release in 2016	(11,303,034)
Balance December 31, 2016	-