| 12. WARRANTS |
As at August 31, 2012, the Company
had a total of 31,979,624 warrants (February 29, 2012 – 32,011,733) outstanding to purchase common stock. Each warrant entitles
the holder to purchase one share of the Company’s common stock. The Company has reserved 31,979,624 shares of common stock
in the event that these warrants are exercised.
During the six months ended August
31, 2012, the Company received $nil from warrants exercised.
The following table summarizes
the continuity of the Company’s share purchase warrants:
| |
Number of
Warrants |
Weighted Average Exercise Price |
| |
|
|
|
| Balance, February 28, 2011 |
25,826,733 |
$ |
0.41 |
| Issued |
19,060,000 |
|
0.30 |
| Cancelled/expired |
(12,875,000) |
|
0.30 |
| Exercised |
- |
|
- |
| |
|
|
|
| Balance, February 29, 2012 |
32,011,733 |
$ |
0.35 |
| |
|
|
|
| Issued |
1,600,000 |
|
0.25 |
| Cancelled/expired |
(1,632,109) |
|
0.58 |
| Exercised |
- |
|
- |
| |
|
|
|
| August 31, 2012 |
31,979,624 |
$ |
0.34 |
| |
|
|
|
As at August 31, 2012, the following
share purchase warrants were outstanding:
| Number of Warrants |
Exercise Price |
|
Expiry Date |
| |
$ |
|
|
| 300,000 |
0.20 |
|
May 22, 2014 |
| 1,000,000 |
0.25 |
|
April 30, 2022 |
| 3,000,000 |
0.25 |
|
July 26, 2020 |
| 300,000 |
0.25 |
|
August 22, 2021 |
| 200,000 |
0.25 |
|
September 6, 2013 |
| 300,000 |
0.30 |
|
May 15, 2014 |
| 500,000 |
0.30 |
|
December 31, 2012 |
| 3,325,000 |
0.30 |
|
March 17, 2013 |
| 1,735,000 |
0.30 |
|
April 13, 2013 |
| 500,000 |
0.30 |
|
April 29, 2021 |
| 1,500,000 |
0.30 |
|
June 2, 2013 |
| 500,000 |
0.30 |
|
July 21, 2013 |
| 4,400,000 |
0.30 |
|
December 30, 2013 |
| 5,000,000 |
0.30 |
|
December 29, 2016 |
| 500,000 |
0.30 |
|
February 20, 2014 |
| 100,000 |
0.30 |
|
February 28, 2014 |
| 500,000 |
0.30 |
|
February 15, 2022 |
| 5,000,000 |
0.30 |
|
December 24, 2020 |
| 1,666,667 |
0.50 |
|
November 5, 2012 |
| 200,000 |
0.65 |
|
September 30, 2012 |
| 1,052,957 |
0.75 |
|
September 2012 to October 2012 |
| 200,000 |
1.30 |
|
September 30, 2012 |
| 200,000 |
2.00 |
|
September 30, 2012 |
| 31,979,624 |
|
|
|
|