| Grant Date | Exercise Period | No of Warrants | Exercise Price per share | Fair Value of Broker Warrants | |||||||||||
| Balance as at November 30, 2011 | Nov. 23, 2011 | 2 years from October 1, 2013 | 65,189 | $ | 5.00 | ||||||||||
| Warrants issued | Jan. 27, 2012 | 2 years from October 1, 2013 | 26,075 | $ | 5.00 | ||||||||||
| Class A warrants - IPO related | Oct. 12, 2012 | 5 years from October 30, 2013 | 560,000 | $ | 7.50 | ||||||||||
| Class B warrants - IPO related | Oct. 12, 2012 | 5 years from October 30, 2013 | 560,000 | $ | 10.00 | ||||||||||
| Broker Warrants related to IPO | Oct. 12, 2012 | 5 years from October 30, 2013 | 56,000 | $ | 6.00 | $ | 159,250 | ||||||||
| Class A warrants | Oct. 25, 2012 | 5 years from October 30, 2013 | 2,000 | $ | 7.50 | ||||||||||
| Class B warrants | Oct. 25, 2012 | 5 years from October 30, 2013 | 2,000 | $ | 10.00 | ||||||||||
| Balance as at November 30, 2012 | 1,271,264 | ||||||||||||||
| Class A warrants - Private Placement | Feb. 19, 2013 | 5 years from grant date | 425,000 | $ | 7.50 | ||||||||||
| Class B warrants - Private Placement | Feb. 19, 2013 | 5 years from grant date | 425,000 | $ | 10.00 | ||||||||||
| Broker warrants - Private Placement | Feb. 19, 2013 | 5 years from grant date | 42,500 | $ | 4.20 | $ | 101,600 | ||||||||
| Common stock warrants - Private Placement | Aug. 21, 2013 | 5 years from grant date | 28,248 | $ | 4.00 | ||||||||||
| Common stock warrants - Private Placement | Sept. 17, 2013 | 5 years from grant date | 138,654 | $ | 4.00 | ||||||||||
| Broker warrants - Private Placement | Sept. 17, 2013 | 5 years from grant date | 13,865 | $ | 2.38 | $ | 10,330 | ||||||||
| Common stock warrants - Private Placement | Oct. 29, 2013 | 5 years from grant date | 122,128 | $ | 4.00 | ||||||||||
| Broker warrants - Private Placement | Oct. 29, 2013 | 5 years from grant date | 12,213 | $ | 2.40 | $ | 8,500 | ||||||||
| Common stock warrants - Private Placement | Nov. 4, 2013 | 5 years from grant date | 150,000 | $ | 4.00 | ||||||||||
| Common stock warrants - Private Placement | Nov. 27, 2013 | 5 years from grant date | 50,000 | $ | 4.00 | ||||||||||
| Balance as at November 30, 2013 | 2,678,872 | ||||||||||||||