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SHARE CAPITAL AND SHAREBASED PAYMENTS (Tables)
12 Months Ended
Dec. 31, 2020
Schedule of Stock Options

 

 

 

Underlying

Shares

 

 

Weighted Average Exercise Price (C$)

 

 

 

 

 

 

 

 

Stock options outstanding, January 1, 2019

 

 

2,917,500

 

 

$

2.04

 

Granted

 

 

526,000

 

 

$

0.79

 

Cancelled / Forfeited

 

 

(255,000

)

 

$

2.09

 

Expired

 

 

(550,000

)

 

$

1.90

 

Stock options outstanding, December 31, 2019

 

 

2,638,500

 

 

$

1.82

 

Granted

 

 

1,700,000

 

 

$

1.64

 

Exercised

 

 

(48,000

)

 

$

0.79

 

Cancelled / Forfeited

 

 

(807,500

))

 

$

1.70

 

Stock options outstanding, December 31, 2020

 

 

3,483,000

 

 

$

1.77

 

Stock options exercisable, December 31, 2020

 

 

2,208,000

 

 

$

1.85

 

Schedule of Stock Options Outsanding and Exercisable

 

 

 

 

 

Outstanding

 

 

Exercisable

 

Expiry Date

 

Price (C$)

 

 

Number of Options

 

 

Weighted Average Remaining Contractual Life (Years)

 

 

Number of Options

 

 

Weighted Average Remaining Contractual Life (Years)

 

September 2, 2021

 

$

2.95

 

 

 

360,000

 

 

 

0.67

 

 

 

360,000

 

 

 

0.67

 

September 20, 2022

 

$

1.98

 

 

 

880,000

 

 

 

1.72

 

 

 

880,000

 

 

 

1.72

 

August 28, 2023

 

$

1.30

 

 

 

295,000

 

 

 

2.66

 

 

 

295,000

 

 

 

2.66

 

August 21, 2024

 

$

0.79

 

 

 

248,000

 

 

 

3.64

 

 

 

248,000

 

 

 

3.64

 

August 4, 2025

 

$

1.64

 

 

 

1,700,000

 

 

 

4.59

 

 

 

425,000

 

 

 

4.59

 

 

 

 

 

 

 

 

3,483,000

 

 

 

3.23

 

 

 

2,208,000

 

 

 

2.44

 

Schedule of RSU Outstanding

 

 

 

Underlying

Shares

 

 

Weighted Average Price (C$)

 

 

 

 

 

 

 

 

RSUs outstanding, January 1, 2019

 

 

1,235,300

 

 

$

1.62

 

Granted

 

 

1,730,500

 

 

$

0.79

 

Exercised

 

 

(565,259

)

 

$

1.96

 

Cancelled / Forfeited

 

 

(27,666

)

 

$

1.35

 

RSUs outstanding, December 31, 2019

 

 

2,372,875

 

 

$

0.94

 

Granted

 

 

1,481,000

 

 

$

1.64

 

Exercised

 

 

(863,901

)

 

$

0.99

 

Cancelled / Forfeited

 

 

(115,974

)

 

$

1.00

 

RSUs outstanding, December 31, 2020

 

 

2,874,000

 

 

$

1.28

 

 

The following table summarizes information about the RSUs outstanding at December 31, 2020:

 

Issuance Date

 

Price (C$)

 

 

Number of RSUs Outstanding

 

August 28, 2018

 

$

1.31

 

 

 

288,000

 

August 21, 2019

 

$

0.79

 

 

 

1,105,000

 

August 4, 2020

 

$

1.64

 

 

 

1,481,000

 

 

 

 

 

 

 

 

2,874,000

 

Schedule of fair value of options granted

 

 

 

2020

 

 

2019

 

Weighted average assumptions:

 

 

 

 

 

 

 Risk-free interest rate

 

 

0.30

%

 

 

1.27

%

 Expected dividend yield

 

 

0

%

 

 

0

%

 Expected option life (years)

 

 

5.00

 

 

 

5.00

 

 Expected stock price volatility

 

 

66.09

%

 

 

59.01

%

Weighted average fair value at grant date

 

C$0.89

 

 

    C$0.40

 

 

Schedule of Basic Earnings Per Share and Diluted Earnings Per Share

 

 

 

2020

 

 

2019

 

 

2018

 

Net income (loss) for the year

 

$

(7,482

)

 

$

(2,335

)

 

$

1,657

 

Basic weighted average number of shares outstanding

 

 

83,180,069

 

 

 

69,980,178

 

 

 

56,851,626

 

Effect of dilutive share options, warrants, and RSUs

 

 

-

 

 

 

-

 

 

 

3,149,011

 

Diluted weighted average number of shares outstanding

 

 

83,180,069

 

 

 

69,980,178

 

 

 

60,000,637

 

Basic earnings (loss) per share

 

$

(0.09

)

 

$

(0.03

)

 

$

0.03

 

Diluted earnings (loss) per share

 

$

(0.09

)

 

$

(0.03

)

 

$

0.03