2017 | 2016 | 2015 | |||||||||||||||
Weighted average exercise price | Number of options | Weighted average exercise price | Number of options | Weighted average exercise price | Number of options | ||||||||||||
CDN$ | CDN$ | CDN$ | |||||||||||||||
Balance, beginning of year | 11.38 | 1,061,250 | 8.78 | 1,617,500 | 7.01 | 2,360,000 | |||||||||||
Granted | — | — | — | — | — | — | |||||||||||
Exercised | 8.00 | (226,875 | ) | 3.56 | (540,000 | ) | 2.79 | (712,500 | ) | ||||||||
Forfeited | — | — | 12.35 | (16,250 | ) | 12.30 | (30,000 | ) | |||||||||
Balance, end of year | 12.29 | 834,375 | 11.38 | 1,061,250 | 8.78 | 1,617,500 |