6	Accounts payable and accrued liabilities

 

		$	2013			$	2012
Trade payables			140,457				677,615
Payable to related parties (note 9)			109,030				447,777
			249,487				1,125,392

 

During the year ended December 31, 2012, the Company issued 500,000 common shares valued at $253,050 (CDN $250,000) as partial settlement of the Company’s accounts payable balance with Valent (note 8). The fair value of the shares issued as partial settlement was based on the financing which occurred during the year ended December 31, 2012.