Stock Purchase Warrants

9 Months Ended

Aug. 31, 2011

Stock Purchase Warrants [Text Block]

16.	Stock Purchase Warrants
	During the nine months ended August 31, 2011, 101,749,051 stock purchase warrants, exercisable at weighted average exercise price of $0.009 per share, expired. The Company issued 100,000,000 common stock purchase warrants upon the completion of a private placement during the nine months ended August 31, 2011. Each common stock purchase warrant issued during the period is exercisable into one share of common stock for a period of one year commencing from the date of the subscription agreement. There was no value assigned to these warrants when they were issued. During the nine month period ended August 31, 2011, the Company issued 1,928,572 shares of common stock upon the exercise of stock purchase warrants for gross proceeds of $4,494.
	A summary of the changes in the Company’s common share purchase warrants is presented below:

			Weighted Average
	Number		Exercise Price
			$
Balance November 30, 2009	84,900,000		0.020
Issued	172,307,324		0.0079
Exercised	(82,917,550	)	0.0027
Expired	(48,000,000	)	0.020
Balance November 30, 2010	126,289,774		0.010
Issued	100,000,000		0.01
Exercised	(1,928,572	)	0.00233
Expired	(101,749,051	)	0.009
Balance August 31, 2011	122,612,151		0.00356

As at August 31, 2011, the following common share purchase warrants were outstanding:

		Remaining
		Contractual Life
	Exercise Price	(years)
Number of Warrants
	$
22,612,151	0.01	0.02 - 0.15
100,000,000	0.0021	0.27
122,612,151