on or after January 1, 2013. In November 2013, Chapter 6 of IFRS 9 on hedge accounting was published. At the same time, Chapter 7, 
containing the effective date and transition provisions was amended to remove the mandatory effective date of IFRS 9. This was intended 
to provide sufficient time for preparers to make the transition to the new requirements. The Company may still choose to apply IFRS 
immediately, but is not required to do so. In subsequent phases, the IASB is addressing impairment of financial assets. The adoption of the 
first phase of IFRS will have an effect on the classification and measurement of the Company’s financial assets, but will not have an impact 
on the classification measurements of financial liabilities. The Company is in the process of assessing the impact IFRS 9 may have on future 
financial statements.
IFRIC Interpretation 21 ‑ Levies (“IFRIC 21”)
IFRIC 21 clarifies that an entity recognises a liability for a levy when the activity that triggers payment, as identified by the relevant 
legislation, occurs.  IFRIC 21 is effective for annual periods beginning on or after January 1, 2014. The Company is in the process of assessing 
the impact IFRIC 21 may have on future financial statements.
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