BASIC AND DILUTED INCOME (LOSS) PER COMMON SHARE

9 Months Ended

Sep. 30, 2024

BASIC AND DILUTED NET INCOME (LOSS) PER COMMON SHARE

Basic and diluted net income (loss) per Common Share

The calculation of basic net income (loss) per common share and diluted net income (loss) per common share after adjustment for the effects of all potential dilutive Common Shares is as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Net income (loss) attributable to owners of the Company	$	(12,060)	$	10,563	$	(14,839)	$	119,968

Basic weighted average common shares outstanding	163,882,537		158,616,883		163,650,699		158,235,301
Dilutive impact of stock options and restricted stock units	—		1,167,832		—		1,217,624
Diluted weighted average common shares outstanding	163,882,537		159,784,715		163,650,699		159,452,925

Basic net income (loss) per common share	$	(0.07)	$	0.07	$	(0.09)	$	0.76
Diluted net income (loss) per common share	$	(0.07)	$	0.07	$	(0.09)	$	0.75

For the three months ended September 30, 2024 and 2023, a weighted average of 1.71 million and 0.78 million, respectively, stock options and restricted stock units (“RSUs”) have been excluded from the calculation of diluted net income per common

share, as their effect would have been anti-dilutive. For the nine months ended September 30, 2024 and 2023 a weighted average of 1.61 million and 0.01 million respectively, stock options and RSUs have been excluded from the calculation of diluted net income per common share, as their effect would have been anti-dilutive. In addition, the Company excluded stock appreciation rights (“SARs”) of 1.02 million and 2.17 million, respectively, for the three months ended September 30, 2024 and 2023, as well as 1.02 million and 2.24 million, respectively, for the nine months ended September 30, 2024 and 2023 as they are contingently issuable based on specified market prices of the Company’s Common Shares, which were not achieved as of the end of each period.