Stock Options [Text Block] |
11.
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Stock Options
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For the six months ended April 30, 2014, the Company recorded a total of $66,482
(2013: $Nil) for stock based compensation expenses.
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On March 25, 2014, the Company accepted and received gross proceeds of $17,500, for the exercise of
50,000
stock options at $0.35
into
50,000
common shares of the Company.
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On March 25, 2014, Jason Springett has joined the Company as an advisor and the Company granted
50,000
stock options with an exercise price of $0.60, vesting immediately and expiring on March 25, 2019.
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On April 1, 2014, the Company entered into a
90
day agreement with Ken Faulkner as a Corporate Development Manager. The Company granted
100,000
stock options with an exercise price of $0.50, vesting immediately and expiring on April 1, 2019.
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A summary of the stock options for the six months ended April 30, 2014 is presented below:
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Options Outstanding |
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Weighted Average |
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Number of Shares |
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Exercise Price |
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Balance, October 31, 2013 |
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2,200,000
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$ |
0.23
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Exercised |
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(50,000
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0.35
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Granted |
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150,000
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0.53
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Balance, April 30, 2014 |
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2,300,000
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$ |
0.24
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The Company has the following options outstanding and exercisable:
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April 30, 2014
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Options outstanding
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Options exercisable
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Range of Exercise |
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Number of |
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Weighted average |
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Weighted average |
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Number of |
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Weighted average |
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prices |
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shares |
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remaining contractual life |
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exercise price |
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shares |
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exercise price |
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$0.20
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150,000
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1.29
years
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$ |
0.20
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150,000
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$ |
0.20
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$0.20
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850,000
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0.72
years
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$ |
0.20
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850,000
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$ |
0.20
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$0.35
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650,000
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2.20years |
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$ |
0.35
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650,000
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$ |
0.35
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$0.10
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500,000
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4.13
years
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$ |
0.20
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500,000
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$ |
0.10
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$0.60
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50,000
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4.90
years
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$ |
0.60
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50,000
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$ |
0.60
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$0.50
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100,000
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4.92
years
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$ |
0.50
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100,000
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$ |
0.50
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Total |
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2,300,000
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2.19
years
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$ |
0.24
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2,300,000
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$ |
0.24
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