Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - CAD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Operating Activities      
Net loss for the year $ (15,616,851) $ (15,139,979) $ (13,722,995)
Amortization - property and equipment 90,768 162,233 180,411
Share based compensation 578,703 406,078 429,537
Unrealized foreign exchange gain (124,793) (139,810) (816,319)
Net change in non-cash working capital 180,855 2,233,865 (1,105,464)
Cash used in operating activities (14,891,318) (12,477,613) (15,034,830)
Investing Activities      
Acquisition of property and equipment (105,765) (23,527) (108,268)
Redemption (purchase) of short-term investments 2,088,800 (27,823) (29,292)
Cash provided by (used in) investing activities 1,983,035 (51,350) (137,560)
Financing Activities      
Proceeds from Share Purchase Agreement 0 0 4,305,396
Proceeds from exercise of stock options 343,440 0 0
Cash provided by financing activities 12,812,704 956,133 23,667,636
(Decrease) increase in cash (95,579) (11,572,830) 8,495,246
Cash and cash equivalents, beginning of year 12,034,282 24,016,275 14,152,825
Impact of foreign exchange on cash and cash equivalents (102,584) (409,163) 1,368,204
Cash and cash equivalents, end of year 11,836,119 12,034,282 24,016,275
At-the-market agreement      
Financing Activities      
Proceeds from share issuance 2,103,166 956,133 19,362,240
Public Offering      
Financing Activities      
Proceeds from share issuance $ 10,366,098 $ 0 $ 0