Share capital and reserves (Tables)
|
12 Months Ended |
Dec. 31, 2023 |
|---|
| Share capital and reserves |
|
| Summary of changes in warrants |
|
|
|
|
|
|
|
|
|
|
Weighted |
|
|
Number of |
|
Average |
|
|
Warrants |
|
Exercise price |
Balance, December 31, 2021 |
|
569,655 |
|
$ |
33.10 |
Granted – October 7, 2022 |
|
555,555 |
|
|
10.98 |
Balance, December 31, 2023 and 2022 |
|
1,125,210 |
|
$ |
22.31 |
|
| Schedule of information on warrants outstanding |
The following table summarizes information on warrants outstanding at December 31, 2023:
|
|
|
|
|
|
|
|
|
|
|
|
|
Remaining |
|
|
Number |
|
|
|
Contractual |
Exercise Price |
|
Outstanding |
|
Expiry date |
|
Life |
CAD$42.26 |
|
198,333 |
|
February 9, 2026 |
|
2.11 years |
$42.93 |
|
270,211 |
|
October 15, 2026 |
|
2.79 years |
$10.53 |
|
101,111 |
|
October 15, 2026 |
|
2.79 years |
$10.98 |
|
555,555 |
|
October 7, 2027 |
|
3.77 years |
Total |
|
1,125,210 |
|
|
|
3.15 years |
|
| Schedule of the changes in pre-funded warrants |
|
|
|
|
|
|
|
|
|
|
|
Weighted |
|
|
Number of |
|
|
Average |
|
|
Warrants |
|
|
Exercise price |
Balance, December 31, 2021 |
|
- |
|
|
— |
Granted – October 7, 2022 |
|
400,000 |
|
$ |
0.0009 |
Exercised |
|
(71,223) |
|
$ |
0.0009 |
Balance, December 31, 2022 |
|
328,777 |
|
$ |
0.0009 |
Exercised |
|
(328,777) |
|
$ |
0.0009 |
Balance, December 31, 2023 |
|
- |
|
|
— |
|
| Schedule of changes in finders' warrants |
|
|
|
|
|
|
|
|
|
|
Weighted |
|
|
Number of |
|
Average |
|
|
Warrants |
|
Exercise price |
Balance, December 31, 2021 |
|
22,521 |
|
$ |
39.61 |
Granted – October 7, 2022 |
|
27,777 |
|
|
10.98 |
Balance, December 31, 2023 and 2022 |
|
50,298 |
|
$ |
23.89 |
|
| Schedule of information on finders' warrants outstanding |
The following table summarizes information on finders’ and underwriters warrants outstanding at December 31, 2023:
|
|
|
|
|
|
|
|
|
|
|
|
|
Remaining |
|
|
Number |
|
|
|
Contractual |
Exercise Price |
|
Outstanding |
|
Expiry date |
|
Life |
CAD$42.30 |
|
6,377 |
|
February 9, 2026 |
|
2.11 years |
$42.93 |
|
16,144 |
|
October 15, 2026 |
|
2.79 years |
$10.98 |
|
27,777 |
|
October 7, 2027 |
|
3.77 years |
Total |
|
50,298 |
|
|
|
3.25 years |
|
| Schedule of fair value of stock options granted was estimated on the date of grant using the Black-Scholes mode |
|
|
|
|
|
|
|
|
2023 |
|
2022 |
|
Dividend yield |
|
Nil |
|
Nil |
|
Annualized volatility |
|
100 |
% |
100 |
% |
Risk-free interest rate |
|
3.25 |
% |
1.44%-3.32 |
% |
Expected life |
|
5 years |
|
5 years |
|
|
| Schedule of the changes in stock options for the years |
|
|
|
|
|
|
|
|
|
|
Weighted |
|
|
Number of |
|
Average |
|
|
Options |
|
Exercise price (CAD) |
Balance, December 31, 2021 |
|
67,332 |
|
$ |
27.89 |
Granted – January 12, 2022 |
|
14,162 |
|
|
22.86 |
Granted – June 6, 2022 |
|
43,866 |
|
|
14.40 |
Granted – November 25, 2022 |
|
7,776 |
|
|
12.42 |
Expired |
|
(4,896) |
|
|
28.67 |
Balance, December 31, 2022 |
|
128,240 |
|
$ |
21.75 |
Granted – December 31, 2023 |
|
8,000 |
|
|
2.90 |
Expired |
|
(32,318) |
|
|
33.65 |
Balance, December 31, 2023 |
|
103,922 |
|
$ |
16.60 |
Vested and exercisable, December 31, 2023 |
|
89,872 |
|
$ |
16.54 |
|
| Schedule of information on stock options outstanding and contractual remaining life |
The following table summarizes information on stock options outstanding at December 31, 2023:
|
|
|
|
|
|
|
|
|
|
|
Number |
|
Number |
|
|
|
Remaining |
Exercise Price (CAD) |
|
Outstanding |
|
Exercisable |
|
Expiry Date |
|
Contractual Life |
$14.76 |
|
14,669 |
|
14,669 |
|
June 23, 2025 |
|
1.48 years |
$25.38 |
|
1,419 |
|
1,419 |
|
August 27, 2025 |
|
1.66 years |
$29.61 |
|
6,624 |
|
6,624 |
|
January 11, 2026 |
|
2.03 years |
$16.92 |
|
2,366 |
|
2,366 |
|
May 12, 2026 |
|
2.36 years |
$21.69 |
|
4,732 |
|
3,811 |
|
July 14, 2026 |
|
2.54 years |
$22.86 |
|
8,085 |
|
8,085 |
|
December 21, 2026 |
|
2.98 years |
$22.86 |
|
11,940 |
|
7,628 |
|
January 12, 2027 |
|
3.04 years |
$14.40 |
|
40,533 |
|
35,265 |
|
June 6, 2027 |
|
3.43 years |
$12.42 |
|
5,554 |
|
2,005 |
|
November 25, 2027 |
|
3.90 years |
$2.90 |
|
8,000 |
|
8,000 |
|
December 31, 2028 |
|
5.00 years |
|
|
103,922 |
|
89,872 |
|
|
|
|
|
| Schedule of the derivative warrant liabilities |
|
|
|
|
Balance at December 31, 2020 |
|
$ |
— |
Warrants issued February 9, 2021 |
|
|
4,212,000 |
Warrants exercised |
|
|
(335,950) |
Fair value reclassified to reserves |
|
|
(3,506,565) |
Warrants issued October 15, 2021 |
|
|
5,998,000 |
Fair value adjustment |
|
|
(2,636,391) |
Foreign currency translation adjustment |
|
|
(104,719) |
Balance at December 31, 2021 |
|
$ |
3,626,375 |
Warrants issued October 7, 2022 |
|
|
3,714,757 |
Fair value adjustment |
|
|
(3,396,137) |
Foreign currency translation adjustment |
|
|
(90,592) |
Balance at December 31, 2022 |
|
$ |
3,854,403 |
Reclassified from reserves |
|
|
318,000 |
Fair value adjustment |
|
|
(3,641,403) |
Balance at December 31, 2023 |
|
$ |
531,000 |
|
| Schedule of significant on assumptions used in determining the fair value of the derivative warrant liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
December 31, |
|
|
December 31, |
|
|
|
|
2023 |
|
|
2022 |
|
|
2021 |
|
Share price |
|
$ |
2.31 |
|
$ |
7.29 |
|
$ |
18.45 |
|
Risk-free interest rate |
|
|
3.25%-3.91 |
% |
|
3.55 |
% |
|
1.23 |
% |
Dividend yield |
|
|
0 |
% |
|
0 |
% |
|
0 |
% |
Expected volatility |
|
|
100 |
% |
|
100 |
% |
|
100 |
% |
Remaining term (in years) |
|
|
2.1-3.8 |
|
|
3.8-4.8 |
|
|
4.8 |
|
|