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Share-based Payments (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Summary of Changes in Warrants and DSUs

The following is a summary of the changes in warrants during the year ended December 31, 2020 and December 31, 2019:

			Weighted average exercise price (C$)						Number of warrants
Balance as of January 1, 2020			$	0.26					18,066,662
Exercise of warrants			0.27						(10,079,313)
Balance as of December 31, 2020			$	0.25					7,987,349

			Weighted average exercise price (C$)						Number of warrants
Balance as of January 1, 2019			$	0.26					25,457,623
Exercise of warrants			0.26						(7,390,961)
Balance as of December 31, 2019			$	0.26					18,066,662

The following is a summary of the changes in DSUs:

			Number of DSUs						Financial liability
Balance at January 1, 2020			33,397						$	255
Granting and vesting of DSUs			58,380						338
Liabilities settled			(8,484)						(46)
Loss (gain) on revaluation			—						30
Balance at December 31, 2020			83,293						$	577

			Number of DSUs						Financial liability
Balance at January 1, 2019			—						$	—
Granting and vesting of DSUs			33,397						452
Loss (gain) on revaluation			—						(197)
Balance at December 31, 2019			33,397						$	255

Summary of Outstanding Warrants

As of December 31, 2020, the Company had outstanding warrants as follows:

Grant date						Expiry date						Weighted average exercise price (C$)						Number of warrants
May 13 – 27, 2016						May 13 – 27, 2021						$	0.25					7,987,349
As of December 31, 2020												$	0.25					7,987,349

Summary of Outstanding Options

The equity plans described above have the following stock options outstanding:

			Shares outstanding as of December 31,
			2020						2019						2018
2020 Omnibus Plan			2,000,000						—						—
2018 Stock Option Plan			1,627,715						1,817,287						285,000
2015 Stock Option Plan			10,127,433						12,332,215						12,617,995
Total stock options outstanding			13,755,148						14,149,502						12,902,995

Summary of the Changes in Options

The following is a summary of the changes in options during the year ended December 31, 2020 and December 31, 2019:

			Weighted average exercise price (C$)						Number of options						Weighted average remaining contractual term (years)
Balance as of January 1, 2020			$	4.84					14,149,502						2.56
Issuance of options(i)			6.96						2,000,000
Exercise of options			2.03						(2,131,939)
Cancellation, forfeiture and expiry of options			14.34						(262,415)
Balance as of December 31, 2020			$	5.40					13,755,148						2.30
Exercisable at December 31, 2020			$	3.75					9,643,682						1.34

(i)The weighted average exercise price reflects the conversion of foreign currency-denominated options at the exchange rates as of December 31, 2020. For foreign currency-denominated options, the weighted average exercise prices are translated using exchange rates as of the settlement date.

			Weighted average exercise price (C$)						Number of options						Weighted average remaining contractual term (years)
Balance as of January 1, 2019			$	2.99					12,902,995						3.35
Issuance of options			20.08						1,534,162
Exercise of options			3.48						(282,572)
Cancellation, forfeiture and expiry of options			2.27						(5,083)
Balance as of December 31, 2019			$	4.84					14,149,502						2.56
Exercisable at December 31, 2019			$	2.93					9,034,714						2.27

Fair Value of Options Issued

The fair value of the options issued during the year was determined using the Black-Scholes option pricing model, using the following inputs:

			2020						2019
Share price at grant date (per share)			C$6.96						C$15.34 – $24.75
Exercise price (per option)(i)			C$6.96						C$15.34 – $24.75
Risk-free interest rate			0.43%						1.39% – 1.62%
Expected life of options (in years)(ii)			5						5
Expected annualized volatility			91%						82%
Expected dividend yield			—						—
Weighted average Black-Scholes value at grant date (per option)			C$4.84						C$13.03
Forfeiture rate			—						—

(i)The weighted average exercise price reflects the conversion of foreign currency-denominated options at the exchange rates as of December 31, 2020. For foreign currency-denominated options, the weighted average exercise prices are translated using exchange rates as of the settlement date.

(ii)The expected life of the awards represents the period of time options are expected to be outstanding and is estimated considering vesting terms and employees’ and non-employees’ historical exercise and, where relevant, post-vesting employment termination behavior. Volatility was estimated by using the historical volatility of the Company’s share price, adjusted for the Company’s expectation of volatility going forward. The risk-free interest rate was based on the Bank of Canada government bonds with a remaining term equal to the expected life of the options at the grant date.

Summary of Restricted Share Units Activity

The following is a summary of the changes in RSUs:

			Number of RSUs						Weighted average grant date fair value (C$)
Balance at January 1, 2020			732,972						$	15.34
Granted			957,854						7.66
Exercised			(732,972)						15.34
Cancellation and forfeitures			(9,497)						7.52
Balance at December 31, 2020			948,357						$	7.66

			Number of RSUs						Weighted average grant date fair value (C$)
Balance at January 1, 2019			—						$	—
Granted			732,972						15.34
Balance at December 31, 2019			732,972						$	15.34

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