I found the answer, I was wrong I was basing my pricing on expiring next year. Correct info below:
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Terms from prospectus:
Exercise Price: The amount payable upon exercise of each Option will be $0.025 (Exercise Price)
Expiry Date: Each option will expire at 5:00pm (WST) on 10 August 2018 (Expiry Date). A option not exercised before the Expiry date will automatically lapse on the Expiry Date.
Exercise Period: The options are exercisable at any time on or prior to the Expiry Date
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