| Stock Options [Text Block] |
|
11.
|
Stock Options
|
| |
|
| |
For the six months ended April 30, 2014, the Company recorded a total of $66,482
(2013: $Nil) for stock based compensation expenses.
|
| |
|
| |
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.
|
| |
|
| |
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.
|
| |
|
| |
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.
|
| |
|
| |
A summary of the stock options for the six months ended April 30, 2014 is presented below:
|
| |
|
|
Options Outstanding |
|
|
|
|
| |
|
|
|
|
|
Weighted Average |
|
| |
|
|
Number of Shares |
|
|
Exercise Price |
|
| |
Balance, October 31, 2013 |
|
2,200,000
|
|
$ |
0.23
|
|
| |
Exercised |
|
(50,000
|
) |
|
0.35
|
|
| |
Granted |
|
150,000
|
|
|
0.53
|
|
| |
Balance, April 30, 2014 |
|
2,300,000
|
|
$ |
0.24
|
|
The Company has the following options outstanding and exercisable:
| |
April 30, 2014
|
|
|
|
|
Options outstanding
|
|
|
Options exercisable
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Range of Exercise |
|
Number of |
|
|
Weighted average |
|
|
Weighted average |
|
|
Number of |
|
|
Weighted average |
|
| |
prices |
|
shares |
|
|
remaining contractual life |
|
|
exercise price |
|
|
shares |
|
|
exercise price |
|
| |
$0.20
|
|
150,000
|
|
|
1.29
years
|
|
$ |
0.20
|
|
|
150,000
|
|
$ |
0.20
|
|
| |
$0.20
|
|
850,000
|
|
|
0.72
years
|
|
$ |
0.20
|
|
|
850,000
|
|
$ |
0.20
|
|
| |
$0.35
|
|
650,000
|
|
|
2.20years |
|
$ |
0.35
|
|
|
650,000
|
|
$ |
0.35
|
|
| |
$0.10
|
|
500,000
|
|
|
4.13
years
|
|
$ |
0.20
|
|
|
500,000
|
|
$ |
0.10
|
|
| |
$0.60
|
|
50,000
|
|
|
4.90
years
|
|
$ |
0.60
|
|
|
50,000
|
|
$ |
0.60
|
|
| |
$0.50
|
|
100,000
|
|
|
4.92
years
|
|
$ |
0.50
|
|
|
100,000
|
|
$ |
0.50
|
|
| |
Total |
|
2,300,000
|
|
|
2.19
years
|
|
$ |
0.24
|
|
|
2,300,000
|
|
$ |
0.24
|
|
|