RE:RE:Selling Pressure SoonOutstanding Securities The Company’s authorized share capital is an unlimited number of common shares of which 42,373,027 common shares were issued and outstanding as at March 31, 2017 (December 31, 2016 – 38,523,669 common shares); 5,651,166 common share purchase warrants outstanding, exercisable at an average price of $0.63 at March 31, 2017 (December 31, 2016 – 3,813,987 common share purchase warrants); and 5,297,674 common share purchase options under the Company employee stock option plan (“ESOP”) at prices between $0.25 and $0.75 per share (December 31, 2016 – 5,489,841 common share purchase options). As of the date of this MD&A, 42,473,027 common shares were issued and outstanding, 5,651,166 common share purchase warrants were outstanding, exercisable at prices between $0.25 and $0.80 per share and 5,163,924 common share purchase options under the Company ESOP were outstanding, exercisable at prices between $0.25 and $0.75 per share. Escrowed shares As at March 31, 2017 and the date of this MD&A, the Company has 6,041,943 issued and outstanding common shares held in escrow pursuant to the requirements of a Tier 1 TSX-V issuer. Of this amount, 2,570,749 common shares are held by nonrelated parties and the remaining 3,471,194 are held by related parties of the Company. Escrowed options As at March 31, 2017 and the date of this MD&A, the Company has 996,000 outstanding stock options held in escrow pursuant to the requirements of a Tier 1 TSX-V issuer. These stock options are held by related parties. Escrowed Warrants As at March 31, 2017 and the date of this MD&A, the Company has 1,015,600 outstanding warrants held in escrow pursuant to the requirements of a Tier 1 TSX-V issuer. These warrants are held by related parties.