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SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2019

Sharebased Compensation Tables Abstract

Share based compensation expense

(in thousands)						2019		2018

Share based compensation expense for:
Share options					$	(776)	$	(1,051)
RSUs						(1,043)		(337)
PSUs						(403)		(447)
Share based compensation expense					$	(2,222)	$	(1,835)

Stock options continuity

		2019				2018
				Weighted				Weighted
				Average				Average
				Exercise				Exercise
		Number of Common		Price per Share		Number of Common		Price per Share
		Shares		(CAD)		Shares		(CAD)

Share options outstanding – January 1		13,865,193	$	0.83		11,799,650	$	0.94
Grants		3,005,000		0.67		3,427,543		0.61
Exercises ⁽¹⁾		(663,150)		0.61		-		-
Expiries		(866,000)		1.81		(816,000)		1.30
Forfeitures		(1,513,800)		0.79		(546,000)		0.90
Share options outstanding – December 31		13,827,243	$	0.75		13,865,193	$	0.83
Share options exercisable – December 31		9,747,721	$	0.80		7,439,950	$	0.93

Stock options outstanding

					Weighted				Weighted-
					Average				Average
					Remaining				Exercise
Range of Exercise					Contractual		Number of		Price per
Prices per Share					Life		Common		Share
(CAD)					(Years)		Shares		(CAD)

Stock options outstanding
$ 0.50 to $ 0.74					3.08		7,390,643	$	0.63
$ 0.75 to $ 0.99					2.19		5,332,600		0.85
$ 1.00 to $ 1.39					0.19		1,104,000		1.09
Stock options outstanding - December 31, 2019					2.51		13,827,243	$	0.75

Fair value of options granted assumptions

			2019		2018

Risk-free interest rate			1.31% - 1.65%		2.02% - 2.12%
Expected stock price volatility			43.86% - 49.46%		43.17% - 48.39%
Expected life			3.4 to 3.5 years		3.4 to 3.5 years
Estimated forfeiture rate			2.82% - 3.12%		2.86% - 3.01%
Expected dividend yield			–		–
Fair value per option granted		CAD$0.19 - CAD$0.26			CAD$0.22 - CAD$0.23

RSUs continuity

		2019				2018
				Weighted				Weighted
				Average				Average
		Number of		Fair Value		Number of		Fair Value
		Common		Per RSU		Common		Per RSU
		Shares		(CAD)		Shares		(CAD)

RSUs outstanding – January 1		1,200,432	$	0.65		-	$	-
Grants		1,927,000		0.73		1,299,432		0.65
Exercises		(373,333)		0.70		-		-
Forfeitures		-		-		(99,000)		0.65
RSUs outstanding – December 31		2,754,099	$	0.70		1,200,432	$	0.65
RSUs vested – December 31		303,810	$	0.65		-	$	-

PSUs continuity

		2019				2018
				Weighted				Weighted
				Average				Average
		Number of		Fair Value		Number of		Fair Value
		Common		Per PSU		Common		Per PSU
		Shares		(CAD)		Shares		(CAD)

PSUs outstanding – January 1		2,200,000	$	0.65		-	$	-
Grants		240,000		0.69		2,200,000		0.65
Exercises		(60,000)		0.65		-		-
Forfeitures		(240,000)		0.65		-		-
PSUs outstanding – December 31		2,140,000	$	0.65		2,200,000	$	0.65
PSUs vested – December 31		380,000	$	0.65		-	$	-