| Stock Options [Text Block] |
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12.
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Stock Options
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The Company has established its 2014 Stock Option Plan whereby the board of directors may, from time to time, grant up to 3,850,000 stock options to directors, officers, employees, and consultants. Stock options granted must be exercised no later than five years from the date of grant or such lesser period as determined by the Company’s board of directors. The exercise price of an option is equal to or greater than the closing market price of the Company’s common shares on the day preceding the date of grant. The vesting terms of each grant are set by the board of directors.
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Fiscal 2018 Activity
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No stock options were granted during the period ended November 30, 2017.
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A continuity schedule for stock options is presented below:
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Weighted |
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Options |
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Average Exercise |
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Outstanding |
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Price |
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$ |
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Balance, August 31, 2016 |
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3,485,000 |
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0.15 |
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Exercised |
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(1,014,125 |
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0.17 |
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Granted |
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850,000 |
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0.14 |
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Balance, August 31, 2017 |
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3,320,875 |
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0.15 |
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Exercised |
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(55,000 |
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0.23 |
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Balance, November 30, 2017 |
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3,265,875 |
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0.15 |
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A summary of the stock options as at November 30 2017, is presented below:
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Number of Stock |
Number of Stock |
Weighted |
Weighted |
Aggregate |
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Options |
Options |
Average |
Average |
Intrinsic Value |
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Exercisable |
Remaining |
Exercise Price |
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Contractual Life |
$ |
$ |
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247,500 |
247,500 |
0.55 years |
0.09 |
231,188 |
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193,375 |
193,375 |
1.65 years |
0.23 |
154,261 |
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990,000 |
990,000 |
2.06 years |
0.10 |
915,750 |
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275,000 |
275,000 |
2.18 years |
0.09 |
256,875 |
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550,000 |
550,000 |
2.32 years |
0.09 |
513,750 |
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110,000 |
110,000 |
2.80 years |
0.17 |
93,750 |
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300,000 |
300,000 |
3.38 years |
0.11 |
274,500 |
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200,000 |
200,000 |
4.51 years |
0.37 |
131,000 |
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400,000 |
100,000 |
4.56 years |
0.29 |
292,000 |
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3,265,875 |
2,965,875 |
2.58 years |
0.15 |
2,863,073 |
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