| | Number outstanding | | Weighted average exercise price | | ||
| | | | $ | | ||
January 1, 2016 | | | 6,589,834 | | | 0.72 | |
Exercised | | | (152,000) | | | 0.26 | |
Forfeited | | | (72,000) | | | 0.47 | |
Expired | | | (1,122,500) | | | 2.17 | |
Balance, December 31, 2016 | | | 5,243,334 | | | 0.43 | |
Granted | | | 2,400,000 | | | 0.23 | |
Forfeited | | | (10,000) | | | 0.26 | |
Expired | | | (2,255,000) | | | 0.57 | |
Balance, December 31, 2017 | | | 5,378,334 | | | 0.28 | |