Annual report pursuant to Section 13 and 15(d)

Other Liabilities

Other Liabilities
12 Months Ended
Dec. 31, 2014
Other Liabilities Disclosure [Abstract]  
Other Liabilities

16.Other Liabilities


The Company completed a private placement in December 2013. In connection with this, the Company issued units consisting of one common share and one half warrants. The warrants are priced at US$1.35 which created a non-hedging derivative financial instrument. The liability created is adjusted to a calculated fair value quarterly using the Black-Scholes technique described in note 17 as there is no active market for the warrants. Any income or loss is reflected in net income for the year. The revaluation resulted in a gain of $946 thousand.