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Common Shares (Tables)

12 Months Ended

Dec. 31, 2024

Common Shares

Schedule of authorized and issued & outstanding common shares and special shares

As at December 31, 2024, the authorized, issued and outstanding common shares and Special Shares of the Company are as follows:

​	​	​	​	​
​		​		Issued and
​	​	Authorized	​	Outstanding
Common shares		Unlimited, with no par value		340,708,460
Class A Special Shares		5,000,000, with no par value		4,448,259
Class B Special Shares		10,000,000, with no par value		8,896,399
Class C Special Shares		10,000,000, with no par value		8,896,399
Class D Special Shares		20,000,000, with no par value		17,792,922
Class E Special Shares		20,000,000, with no par value		17,792,922
Class F Special Shares		20,000,000, with no par value		17,792,922
Class G Special Shares		25,000,000, with no par value		22,241,179
Class H Special Shares		25,000,000, with no par value		22,241,179
Class I Special Shares		500,000, with no par value		500,000
Class J Special Shares		741,000, with no par value		741,000

Summary of the Special Shares and their respective vesting thresholds, assuming the full amount of Special Shares from Rollover Options are issued

​

Special Share Class	A	B	C	D	E	F	G	H	I	J
Share Trigger price ($)	15	25	35	50	75	100	150	200	50	12
Special Shares (million)	5	10	10	20	20	20	25	25	0.5	0.7

Schedule of common shares

​

​	​	​	​	​	​
Common shares		Number		Amount
December 31, 2022		266,812,131	​	$	332,882
Issuance of shares under 2023 Registered Direct Offering (Note 13)		7,961,540	​	​	11,420
Exercise of warrant by Allseas		11,578,620	​	​	70,016
Shares issued to Allseas		15,000,000	​	​	15,910
Exercise of stock options (Note 17)		120,000	​	​	144
Conversion of restricted share units (Note 17)	​	4,912,747	​	​	7,720
Share purchase under Employee Stock Purchase Plan (Note 17)		173,672	​	​	147
December 31, 2023		306,558,710	​	$	438,239
Issuance of shares under 2023 Registered Direct Offering (Note 13)		4,500,000	​	​	7,447
Issuance of shares under 2024 Registered Direct Offering (Note 13)	​	14,900,000	​	​	9,743
Shares issued as per At-the Market Equity Distribution Agreement (Note 14)	​	3,251,588	​	​	4,866
Conversion of restricted share units (Note 17)	​	10,734,581	​	​	14,954
Exercise of stock options (Note 17)	​	715,772	​	​	1,891
Share purchase under Employee Stock Purchase Plan (Note 17)	​	47,809	​	​	77
December 31, 2024		340,708,460	​	$	477,217

​

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