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SHARE CAPITAL AND SHAREBASED PAYMENTS (Tables)
3 Months Ended
Mar. 31, 2025
SHARE CAPITAL AND SHAREBASED PAYMENTS  
Schedule Of Stock Options

 

 

Underlying

Shares

 

 

Weighted Average

Exercise Price (C$)

 

Stock options outstanding, January 1, 2024

 

 

6,666,000

 

 

$1.27

 

Granted

 

 

2,500,000

 

 

$0.78

 

Exercised

 

 

(1,301,000)

 

$1.04

 

Cancelled / Forfeited

 

 

(190,000)

 

$1.26

 

Stock options outstanding, December 31, 2024

 

 

7,675,000

 

 

$1.15

 

Exercised

 

 

(826,250)

 

$1.44

 

Stock options outstanding, March 31, 2025

 

 

6,848,750

 

 

$1.11

 

Stock options exercisable, March 31, 2025

 

 

6,848,750

 

 

$1.11

 

Schedule Of Stock Options Outstanding 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)

 

August 4, 2025

 

$1.64

 

 

 

970,000

 

 

 

0.35

 

 

 

970,000

 

 

 

0.35

 

March 25, 2027

 

$1.20

 

 

 

1,835,000

 

 

 

1.98

 

 

 

1,835,000

 

 

 

1.98

 

March 29, 2028

 

$1.12

 

 

 

1,870,000

 

 

 

3.00

 

 

 

1,870,000

 

 

 

3.00

 

July 10, 2028

 

$1.12

 

 

 

150,000

 

 

 

3.28

 

 

 

150,000

 

 

 

3.28

 

March 25, 2029

 

$0.78

 

 

 

2,023,750

 

 

 

3.99

 

 

 

2,023,750

 

 

 

3.99

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

6,848,750

 

 

 

2.65

 

 

 

6,848,750

 

 

 

2.65

 

Schedule of fair value of the stock options was calculated using the Black-Scholes model

 

 

March 31,

2025

 

 

December 31,

2024

 

Weighted average assumptions:

 

 

 

 

 

 

Risk-free interest rate

 

-

 

 

3.51%

Expected dividend yield

 

-

 

 

0%

Expected warrant life (years)

 

 

-

 

 

 

5

 

Expected stock price volatility

 

-

 

 

60.73%

Expected forfeiture rate

 

-

%

 

 

15%

Weighted average fair value

 

 

-

 

 

C$

0.43

 

Schedule Of Rsu Outstanding

 

 

Underlying

Shares

 

 

Weighted Average

Price (C$)

 

RSUs outstanding, January 1, 2024

 

 

2,994,709

 

 

$1.03

 

Granted

 

 

1,881,000

 

 

$1.02

 

Exercised

 

 

(1,197,709)

 

$1.15

 

Cancelled / Forfeited

 

 

(137,132)

 

$1.08

 

RSUs outstanding, December 31, 2024

 

 

3,540,868

 

 

$1.08

 

Exercised

 

 

(334,989)

 

$1.19

 

Forfeited for withholding taxes

 

 

(146,550)

 

$1.19

 

RSUs outstanding, March 31, 2025

 

 

3,059,329

 

 

$1.06

 

Schedule of summarizes information about the RSUs

Issuance Date

 

Price (C$)

 

 

Number of RSUs Outstanding

 

March 25, 2022

 

$1.19

 

 

 

75,000

 

March 29, 2023

 

$1.12

 

 

 

1,124,288

 

July 10, 2023

 

$0.94

 

 

 

50,000

 

April 1, 2024

 

$1.02

 

 

 

1,810,041

 

 

 

 

 

 

 

 

3,059,329

 

Schedule Of Basic Earnings Per Share And Diluted Earnings Per Share

 

 

Three months ended March 31,

 

 

 

2025

 

 

2024

 

Net income for the period

 

$5,617

 

 

$599

 

Basic weighted average number of shares outstanding

 

 

140,863,392

 

 

 

130,027,962

 

Effect of dilutive share options, warrants, and RSUs

 

 

6,963,858

 

 

 

2,994,709

 

Diluted weighted average number of shares outstanding

 

 

147,827,215

 

 

 

133,022,671

 

Basic and diluted earnings per share

 

$0.04

 

 

$0.00