Shareholders' Equity and Capital Stock (Tables)
|
12 Months Ended |
Dec. 31, 2024 |
|---|
| Shareholders Equity and Capital Stock |
|
| Schedule Of Activity with respect to stock options |
|
|
|
|
|
|
|
Outstanding |
|
Weighted-average |
|
|
Options |
|
Exercise Price |
Stock Option Activity |
|
# |
|
$ |
|
|
|
|
|
December 31, 2022 |
|
8,574,904 |
|
0.66 |
|
|
|
|
|
Granted |
|
2,607,657 |
|
1.32 |
Exercised |
|
(2,225,098) |
|
0.64 |
Forfeited |
|
(39,999) |
|
1.13 |
Expired |
|
(17,129) |
|
0.68 |
|
|
|
|
|
December 31, 2023 |
|
8,900,335 |
|
0.87 |
|
|
|
|
|
Granted |
|
2,416,502 |
|
1.36 |
Exercised |
|
(2,351,563) |
|
0.58 |
Forfeited |
|
(370,782) |
|
1.30 |
|
|
|
|
|
December 31, 2024 |
|
8,594,492 |
|
1.00 |
|
| Schedule of outstanding stock options |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options Outstanding |
|
Options Exercisable |
|
|
Weighted- |
|
|
|
Weighted- |
|
|
|
|
|
Weighted- |
|
|
|
|
average |
|
|
|
average |
|
Aggregate |
|
|
|
average |
|
Aggregate |
|
|
exercise |
|
Number |
|
remaining |
|
intrinsic |
|
Number |
|
remaining |
|
intrinsic |
|
|
Price |
|
of options |
|
contractual |
|
value |
|
of options |
|
contractual |
|
value |
|
|
$ |
|
# |
|
life (years) |
|
$ |
|
# |
|
life (years) |
|
$ |
|
Expiry |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1.08 |
|
3,942 |
|
0.1 |
|
287 |
|
3,942 |
|
0.1 |
|
287 |
|
2025-01-23 |
0.44 |
|
2,512,347 |
|
0.9 |
|
1,789,326 |
|
2,512,347 |
|
0.9 |
|
1,789,326 |
|
2025-11-13 |
1.00 |
|
1,244,100 |
|
1.7 |
|
185,799 |
|
1,244,100 |
|
1.7 |
|
185,799 |
|
2026-08-27 |
1.55 |
|
175,000 |
|
2.2 |
|
- |
|
116,666 |
|
2.2 |
|
— |
|
2027-03-14 |
1.08 |
|
1,188,962 |
|
3.0 |
|
86,681 |
|
430,964 |
|
3.0 |
|
31,419 |
|
2028-01-04 |
1.43 |
|
1,053,639 |
|
3.9 |
|
- |
|
351,213 |
|
3.9 |
|
— |
|
2028-12-07 |
1.71 |
|
500,000 |
|
4.4 |
|
- |
|
- |
|
— |
|
— |
|
2029-05-08 |
1.23 |
|
1,916,502 |
|
4.9 |
|
- |
|
- |
|
— |
|
— |
|
2029-12-12 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1.00 |
|
8,594,492 |
|
2.8 |
|
2,062,093 |
|
4,659,232 |
|
1.5 |
|
2,006,831 |
|
|
|
| Summary of liability-classified option activity |
|
|
Balance at December 31, 2023 |
- |
Reclassification of liability from equity |
2,523 |
Stock compensation expense as adjusted |
172 |
Options exercised |
(859) |
Options forfeited |
(8) |
Increase in liability due to fair value recalculations after initial reclassification |
(70) |
Balance at December 31, 2024 |
1,758 |
|
| Schedule Of Restricted Share Unit Activity |
|
|
|
|
|
|
|
|
|
Weighted-average |
|
|
Outstanding |
|
grant date |
|
|
RSUs |
|
fair value |
Restricted Share Unit Activity |
|
# |
|
$ |
|
|
|
|
|
December 31, 2022 |
|
305,530 |
|
1.14 |
|
|
|
|
|
Granted |
|
651,912 |
|
1.32 |
Released |
|
(312,575) |
|
1.14 |
Forfeited |
|
(2,957) |
|
1.15 |
|
|
|
|
|
December 31, 2023 |
|
641,910 |
|
1.33 |
|
|
|
|
|
Granted |
|
479,141 |
|
1.25 |
Released |
|
(39,233) |
|
1.30 |
Forfeited |
|
(12,173) |
|
1.43 |
|
|
|
|
|
December 31, 2024 |
|
1,069,645 |
|
1.29 |
|
| Schedule Of Schedule Of Restricted Share Unit Outstanding |
|
|
|
|
|
|
|
RSUs Outstanding |
|
|
Weighted- |
|
|
|
|
|
|
Average |
|
Aggregate |
|
|
Number |
|
Remaining |
|
Fair |
|
|
of RSUs |
|
contractual |
|
Value |
|
Vesting |
# |
|
life (years) |
|
$ |
|
Date |
|
|
|
|
|
|
|
307,067 |
|
0.1 |
|
353,127 |
|
2025-01-04 |
283,437 |
|
0.9 |
|
325,953 |
|
2025-12-07 |
479,141 |
|
1.9 |
|
551,012 |
|
2026-12-12 |
1,069,645 |
|
1.1 |
|
1,230,092 |
|
|
|
| Schedule Of warrant activity |
|
|
|
|
|
|
|
|
|
|
|
Number of |
|
Weighted- |
|
|
|
|
shares to |
|
Average |
|
|
Outstanding |
|
be issued |
|
exercise price |
|
|
Warrants |
|
upon exercise |
|
per common share |
Warrant Activity |
|
# |
|
# |
|
$ |
|
|
|
|
|
|
|
December 31, 2022 |
|
16,730,530 |
|
8,365,265 |
|
1.35 |
|
|
|
|
|
|
|
Issued |
|
39,100,000 |
|
19,550,000 |
|
1.50 |
Exercised |
|
(413,030) |
|
(206,515) |
|
1.35 |
|
|
|
|
|
|
|
December 31, 2023 |
|
55,417,500 |
|
27,708,750 |
|
1.46 |
|
|
|
|
|
|
|
Exercised |
|
(16,376,500) |
|
(8,188,250) |
|
1.35 |
|
|
|
|
|
|
|
December 31, 2024 |
|
39,041,000 |
|
19,520,500 |
|
1.50 |
|
| Schedule Of outstanding warrants |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted- |
|
|
|
|
|
|
|
|
average |
|
Aggregate |
|
|
Exercise |
|
Number |
|
remaining |
|
intrinsic |
|
|
price |
|
of warrants |
|
contractual |
|
value |
|
|
$ |
|
# |
|
life (years) |
|
$ |
|
Expiry |
|
|
|
|
|
|
|
|
|
1.50 |
|
39,041,000 |
|
1.1 |
|
— |
|
2026-02-21 |
1.50 |
|
39,041,000 |
|
1.1 |
|
— |
|
|
|
| Schedule Of fair value of the warrants |
|
|
|
|
Warrant Fair Value Assumptions |
|
2023 |
|
|
|
|
|
Expected forfeiture rate |
|
0.0% |
|
Expected life (years) |
|
3.0 |
|
Expected volatility |
|
77.4% |
|
Risk free rate |
|
3.9% |
|
Expected dividend rate |
|
0.0% |
|
Black-Scholes value (CAD$) |
|
$0.63 |
|
|
| Employee Stock Option |
|
| Shareholders Equity and Capital Stock |
|
| Schedule of fair value assumptions |
|
|
|
|
|
|
|
|
|
Stock Options Fair Value Assumptions |
|
2024 |
|
2023 |
|
|
|
|
|
|
|
|
|
Expected forfeiture rate |
|
|
5.0% - 5.3% |
|
|
|
5.1% - 5.3% |
|
Expected life (years) |
|
|
4.0 - 4.1 |
|
|
|
4.0 |
|
Expected volatility |
|
|
67.1% - 65.5% |
|
|
|
71.7% - 74.7% |
|
Risk free rate |
|
|
3.8% - 2.9% |
|
|
|
3.5% - 3.6% |
|
Expected dividend rate |
|
|
0.0% |
|
|
|
0.0% |
|
Weighted average exercise price (CAD$) |
|
|
$1.77 - $2.46 |
|
|
|
$1.55 - $2.06 |
|
Black-Scholes value (CAD$) |
|
|
$0.92 - $1.33 |
|
|
|
0.89 - $1.16 |
|
|
| Liability-classified stock options |
|
| Shareholders Equity and Capital Stock |
|
| Schedule of fair value assumptions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As at |
|
|
As at |
|
Black-Scholes assumptions as at |
|
December 31, 2024 |
|
|
July 29, 2024 |
|
|
|
|
|
|
|
|
Expected forfeiture rate |
|
— |
|
|
— |
|
Expected life (years) |
|
0.9 - 4.9 |
|
|
0.3 - 4.8 |
|
Expected volatility rate |
|
46.9 - 67.4 |
% |
|
47.7 - 68.2 |
% |
Risk free rate |
|
2.85 - 2.94 |
% |
|
3.2 - 3.5 |
% |
Expected dividend rate |
|
— |
% |
|
— |
% |
Exercise price |
$ |
0.63 - 2.46 |
|
$ |
0.63 - 2.46 |
|
Market price |
$ |
1.64 |
|
$ |
1.80 |
|
|
| Restricted Stock Units (RSUs) |
|
| Shareholders Equity and Capital Stock |
|
| Schedule of fair value assumptions |
|
|
|
|
|
Restricted Share Unit Fair Value Assumptions |
|
2024 |
|
2023 |
|
|
|
|
|
Expected forfeiture rate |
|
3.6% |
|
3.6% - 3.8% |
Grant date fair value (CAD$) |
|
$1.77 |
|
$1.55 - $2.06 |
|