Shareholders' Equity (Tables)
|
12 Months Ended |
Dec. 31, 2022 |
|---|
| Shareholders' Equity |
|
| Schedule of Warrants remain outstanding |
The following table summarizes the warrants that remain outstanding as of December 31, 2022:
|
|
|
|
|
|
|
|
|
|
|
|
Exercise |
|
|
Number of |
|
|
Security issued |
|
|
Price (CAD$) |
|
|
Warrants |
|
Expiration Date |
Consultant Warrants |
|
|
0.33 |
|
|
500,000 |
|
January 28, 2023 |
Founders Separation Warrants |
|
|
1.05 |
|
|
9,045,691 |
|
September 30, 2024 |
|
|
|
|
|
|
9,545,691 |
|
|
|
| Schedule of warrants outstanding |
A rollforward of warrant activity is as follows:
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|
|
|
|
|
|
|
|
|
|
|
|
Weighted |
|
|
|
Number of |
|
|
Average |
Warrants |
|
|
Warrants |
|
|
Exercise Price |
Balance as of January 1, 2021 |
|
|
74,562,211 |
|
|
CAD$ 0.43 |
Exercised |
|
|
(657,000) |
|
|
CAD$ 0.33 |
Balance as of December 31, 2021 |
|
|
73,905,211 |
|
|
CAD$ 0.44 |
Expired |
|
|
(64,359,520) |
|
|
CAD$ 0.35 |
Balance as of December 31, 2022 |
|
|
9,545,691 |
|
|
CAD$ 1.01 |
|
| Summary of restricted stock units outstanding |
A summary of the status of the RSUs outstanding is as follows:
|
|
|
|
|
|
|
|
|
|
|
Number of |
|
Weighted Average |
|
RSUs |
|
|
RSUs |
|
Grant Date Fair Value |
|
Unvested as of January 1, 2021 |
|
|
3,499,104 |
|
$ |
0.38 |
|
Issued |
|
|
5,978,269 |
|
|
0.38 |
|
Forfeited |
|
|
(577,942) |
|
|
0.39 |
|
Vested |
|
|
(5,272,350) |
|
|
0.38 |
|
Unvested as of December 31, 2021 |
|
|
3,627,081 |
|
$ |
0.37 |
|
Issued |
|
|
1,729,500 |
|
|
0.06 |
|
Forfeited |
|
|
(418,846) |
|
|
0.34 |
|
Vested |
|
|
(2,194,970) |
|
|
0.28 |
|
Unvested as of December 31, 2022 |
|
|
2,742,765 |
|
$ |
0.25 |
|
|
| Summary of share options outstanding |
A summary of the status of the share options outstanding is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
Share Options |
|
Weighted |
|
Weighted Average |
|
|
|
Common |
|
Average |
|
Remaining Contractual |
Share options |
|
|
Shares |
|
Exercise Price |
|
Life (yrs) |
Balance as of January 1, 2021 |
|
|
19,141,188 |
|
$ |
0.63 |
|
6.61 |
Granted |
|
|
250,000 |
|
|
0.49 |
|
0.46 |
Exercised |
|
|
(221,400) |
|
|
0.06 |
|
0.03 |
Forfeited |
|
|
(2,596,408) |
|
|
0.53 |
|
— |
Balance as of January 1, 2022 |
|
|
16,573,380 |
|
|
0.63 |
|
5.35 |
Forfeited |
|
|
(6,819,780) |
|
|
0.68 |
|
— |
Balance as of December 31, 2022 |
|
|
9,753,600 |
|
$ |
0.60 |
|
6.14 |
|
| Summary of share options that remain outstanding |
The following table summarizes the share options that remain outstanding as of December 31, 2022:
|
|
|
|
|
|
|
|
|
|
|
Number of |
|
Exercise |
|
|
|
Options |
Security issuable |
|
Share Options |
|
Price |
|
Expiration Date |
|
Exercisable |
Legacy employees |
|
190,000 |
|
$ 1.58-1.58 |
|
June 28, 2028 |
|
190,000 |
2020 employee grant |
|
5,881,002 |
|
$ 0.30-0.48 |
|
June 25, 2030 - December 1, 2030 |
|
3,441,101 |
Other employee grants |
|
3,682,598 |
|
$ 0.41-3.96 |
|
June 17, 2024 - November 21, 2029 |
|
3,682,598 |
Total |
|
9,753,600 |
|
|
|
|
|
7,313,699 |
|
| Summary of performance stock units outstanding |
A summary of the status of the PSUs outstanding is as follows:
|
|
|
|
|
|
|
|
|
|
|
Number of |
|
Weighted Average |
|
Performance Stock Units |
|
|
PSUs |
|
Grant Date Fair Value |
|
Unvested as of January 1, 2021 |
|
|
— |
|
$ |
— |
|
Issued |
|
|
11,843,156 |
|
|
0.31 |
|
Forfeited |
|
|
(38,658) |
|
|
0.21 |
|
Unvested as of December 31, 2021 |
|
|
11,804,498 |
|
|
0.31 |
|
Forfeited |
|
|
(472,120) |
|
|
0.18 |
|
Vested |
|
|
(700,000) |
|
|
0.51 |
|
Unvested as of December 31, 2022 |
|
|
10,632,378 |
|
$ |
0.30 |
|
|
| Summary of PSU award granted containing market conditions |
A summary of the PSU awards granted containing market conditions is as follows:
|
|
|
|
|
|
|
|
|
|
|
Closing Price on |
|
|
|
|
|
PSU Grant Dates |
|
Grant Date |
|
|
Expiration Date |
|
Outstanding (#) |
June 18, 2021 |
|
$ |
0.49 |
|
|
December 31, 2024 |
|
7,487,351 |
September 30, 2021 |
|
$ |
0.39 |
|
|
December 31, 2024 |
|
2,010,324 |
December 19, 2021 |
|
$ |
0.23 |
|
|
December 31, 2024 |
|
434,703 |
Total |
|
|
|
|
|
|
|
9,932,378 |
|