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Derivative Liabilities (Tables) | 12 Months Ended
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Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Reconciliation of Carrying Amounts | Reconciliations of the carrying amounts of the derivative liability are presented below:
| As of January 1, 2020 |  | Gain on revaluation |  | Exercise of Rights |  | Effect of FX |  | As of December 31, 2020
(a) Altria Warrant | $ | 234,428 |  |  | $ | (95,045) |  |  | $ | — |  |  | $ | (525) |  |  | $ | 138,858 |
(b) Pre-emptive Rights | 12,787 |  |  | (885) |  |  | — |  |  | 193 |  |  | 12,095 |
(c) Top-up Rights | 49,945 |  |  | (33,324) |  |  | (3,227) |  |  | (937) |  |  | 12,457 |
| $ | 297,160 |  |  | $ | (129,254) |  |  | $ | (3,227) |  |  | $ | (1,269) |  |  | $ | 163,410 |
| As of March 8, 2019 |  | Gain on revaluation |  | Exercise of Rights |  | Effect of FX |  | As of December 31, 2019
(a) Altria Warrant | $ | 1,086,920 |  |  | $ | (869,630) |  |  | $ | — |  |  | $ | 17,138 |  |  | $ | 234,428 |
(b) Pre-emptive Rights | 92,548 |  |  | (81,070) |  |  | — |  |  | 1,309 |  |  | 12,787 |
(c) Top-up Rights | 386,152 |  |  | (326,119) |  |  | (15,478) |  |  | 5,390 |  |  | 49,945 |
| $ | 1,565,620 |  |  | $ | (1,276,819) |  |  | $ | (15,478) |  |  | $ | 23,837 |  |  | $ | 297,160 |
Schedule of Fair Values of Derivative Liabilities | The fair values of the derivative liabilities were determined using the Black-Scholes pricing model as of December 31, 2020 and December 31, 2019, applying the following inputs:
| As of December 31, 2020
| Altria Warrant |  | Pre-emptive Rights |  | Top-up Rights
Share price at grant date (per share in C$) | $8.84 |  | $8.84 |  | $8.84
Subscription price (per share in C$) | $19.00 |  | $16.25 |  | $16.25
Weighted average risk-free interest rate(i) | 0.21% |  | 0.17% |  | 0.13%
Weight average expected life (in years)(ii) | 2.18 |  | 1.50 |  | 0.98
Expected annualized volatility(iii) | 81% |  | 81% |  | 81%
Expected dividend yield | 0% |  | 0% |  | 0%
| As of December 31, 2019
| Altria Warrant |  | Pre-emptive Rights |  | Top-up Rights
Share price at grant date (per share in C$) | $9.97 |  | $9.97 |  | $9.97
Subscription price (per share in C$) | $19.00 |  | $16.25 |  | $16.25
Weighted average risk-free interest rate(i) | 1.69% |  | 1.73% |  | 1.71%
Weight average expected life (in years)(ii) | 3.18 |  | 1.25 |  | 1.66
Expected annualized volatility(iii) | 82% |  | 82% |  | 82%
Expected dividend yield | 0% |  | 0% |  | 0%
(i) The risk-free interest rate was based on Bank of Canada government treasury bills and bonds with a remaining term equal to the expected life of the derivative liabilities. The risk-free interest rate uses a range of approximately 0.10% to 0.39% as of December 31, 2020 (December 31, 2019 – 1.66% to 1.73%) for the Pre-emptive Rights and Top-up Rights. (ii) The expected life in years represents the period of time that the derivative liabilities are expected to be outstanding. The expected life of the Pre-emptive Rights and Top-up Rights is determined based on the expected term of the underlying options, warrants, and shares, to which the Pre-emptive Rights and Top-up Rights are linked. The expected life uses a range of approximately 0.50 years to 5 years as of December 31, 2020 (December 31, 2019 – 0.25 years to 6 years). (iii) Volatility was based on the blended historical volatility levels of the Company and peer companies.
Schedule of Sensitivity Analysis | The following table quantifies each of the significant inputs described above and provides a sensitivity analysis of the impact on the reported values of the derivative liabilities. The sensitivity analysis for each significant input is performed by assuming a 10% decrease in the input while other significant inputs remain constant at management’s best estimate as of the respective dates. As of December 31, 2020, there would be an equal but opposite impact on net income (loss), refer to Note 15, and as of December 31, 2019, there would be an equal but opposite impact on share capital.
| Decrease as of December 31, 2020
| Altria Warrant |  | Pre-emptive Rights |  | Top-up Rights
Share price at issuance date | $ | 25,819 |  |  | $ | 2,527 |  |  | $ | 2,989 |
Weighted average expected life | 13,541 |  |  | 1,988 |  |  | 2,121 |
Expected annualized volatility | 26,183 |  |  | 2,269 |  |  | 2,602 |
| Decrease as of December 31, 2019
| Altria Warrant |  | Pre-emptive Rights |  | Top-up Rights
Share price at issuance date | $ | 36,436 |  |  | $ | 2,743 |  |  | $ | 9,577 |
Weighted average expected life | 17,471 |  |  | 2,366 |  |  | 2,178 |
Expected annualized volatility | 33,343 |  |  | 2,180 |  |  | 7,714 |

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