text: **3. Significant Accounting Judgments, Estimates and Assumptions (continued)**
  
  IFRS 10 ‑ Consolidated Financial Statements (“IFRS 10”) 
  IFRS 10 replaces the portion of IAS 27 ‑ Consolidated and Separate Financial Statements (“IAS 27”) that addresses the accounting for 
  consolidated financial statements. IFRS 10 establishes a single control model that applies to all entities including special purpose entities. 
  The changes introduced by IFRS 10 require Management to exercise significant judgment to determine which entities are controlled, and 
  therefore, are required to be consolidated by a parent, compared with the requirements that were in IAS 27. The adoption of this standard 
  did not have an impact on the Company’s financial position or performance. 
  
  IFRS 11 ‑ Joint Arrangements (“IFRS 11”) 
  IFRS 11 replaces IAS 31 ‑ Interests in Joint Ventures and SIC 13 ‑ Jointly controlled Entities — Non monetary Contributions by Venturers. 
  IFRS 11 removes the option to account for jointly controlled entities using proportionate consolidation. Instead, joint arrangements that 
  meet the definition of a joint venture must be accounted for using the equity method. Otherwise joint arrangements are classified as joint 
  operations and are accounted for by recognizing the Company’s share of the arrangement’s assets and liabilities. The adoption of this 
  standard did not have an impact on the Company’s accounting treatment of its joint arrangements as they meet the definition of joint 
  ventures and were previously accounted for using the equity method. 