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Warrant Liability | 9 Months Ended
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Sep. 30, 2023
Warrant Liability [Abstract] |
Warrant Liability |
| 10. | Warrant Liability
Warrant liability consists of warrants issued by the Company in public offerings, private placements, and forward purchase contracts. As of September 30, 2023, the number of warrants outstanding and weighted-average exercise price were 8,050,000 warrants and $11.50, respectively (December 31, 2022 - 8,050,000 and $11.50). The warrants are exercisable and will expire September 16, 2027, or earlier upon redemption or liquidation. All the Company’s warrants that are classified as liabilities are publicly traded and are classified as Level 1 in the fair value hierarchy. The change in fair value of the warrants are as follows:
Balance, December 31, 2022 |  | $ | 10,062,500 |
Change in fair value |  |  | 6,842,500 |
Balance, June 30, 2023 |  | $ | 16,905,000 |
Change in fair value |  |  | (7,485,695 | )
Balance, September 30, 2023 |  | $ | 9,419,305 |

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