| Warrant Liability |
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December 31,
2018 |
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December 31,
2017 |
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Number of
Warrants |
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Amount |
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Number of
Warrants |
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Amount |
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Opening Balance
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4,933,231 |
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$ |
17,849,460 |
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2,581,703 |
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$ |
2,365,691 |
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Issue of warrants expiring, March 16, 2019
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— |
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— |
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357,787 |
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572,326 |
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Issue of warrants expiring, March 16, 2021
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— |
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— |
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357,787 |
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725,484 |
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Issue of warrants expiring, June 29, 2022
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— |
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— |
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1,983,521 |
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3,364,118 |
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Issue of warrants expiring, August 24, 2022
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— |
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— |
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563,067 |
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822,372 |
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Issue of warrants expiring, December 5, 2022
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— |
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— |
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1,533,333 |
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5,223,686 |
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Issue of warrants expiring, April 10, 2023
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1,295,554 |
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5,212,087 |
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— |
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— |
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Issue of warrants expiring, August 10, 2023
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7,679,574 |
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6,297,251 |
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Warrants exercised during the year
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(6,500 |
) |
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(28,949 |
) |
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(1,755,141 |
) |
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(7,953,581 |
) |
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Warrants expired during the year
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— |
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(688,826 |
) |
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— |
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Foreign exhange adjustment during the year
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(984,462 |
) |
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— |
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305,475 |
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Fair value adjustment during the year
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(17,095,220 |
) |
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12,423,889 |
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Ending Balance
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13,901,859 |
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$ |
11,250,167 |
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4,933,231 |
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$ |
17,849,460 |
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In addition to the warrants listed above, at December 31,
2018, the Company has issued, outstanding and exercisable, 786,183
broker unit warrants expiring between March 16, 2019 and
August 10, 2020 (2017 – 272,650 broker unit warrants
expiring between February 23, 2018 and December 5,
2019).
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