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Share-based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Abstract]

Components of Share-based Compensation Expense

The components of share-based compensation expense are as follows:

	Year ended December 31			Year ended December 31			Ten months ended December 31
	2020			2019			2018
Simple warrants (a)		1,539			23,918			5,029
Performance warrants (a)		(42	)		11,023			1,860
Stock options (b)		651			98			—
Restricted share units (c)		4,069			220			—
Deferred share units (c)		2,349			1,119			—
Shares issued for services		—			2,320			521
		8,566			38,698			7,410

Black-Scholes Option Pricing Model to Estimate the Fair Value of Units Granted

In determining the amount of share-based compensation, the Company used the Black-Scholes option pricing model to estimate the fair value of units granted during the year ended December 31, 2020, December 31, 2019 and ten months ended December 31, 2018 through application of the following assumptions:

	December 31, 2020	December 31, 2019	December 31, 2018
Risk-free interest rate	0.28% - 0.29%	1.41% - 1.88%	1.65% - 2.05%
Expected life of units (years)	10	2 - 10	0.5 – 14
Expected annualized volatility	143%	97% - 116%	80% - 106%
Expected dividend yield	Nil	Nil	Nil
Weighted average Black-Scholes value of each unit	$1.13 - $1.17	$0.67 - $23.55	$1.76 - $3.81

Summary of Changes in Simple and Performance Warrants

The following table summarizes changes in the simple and performance warrants during the year ended December 31, 2020:

		Simple warrants outstanding				Weighted average exercise price				Performance warrants outstanding				Weighted average exercise price
Balance at December 31, 2019			9,815,000			$	4.01				5,798,822			$	2.66
Forfeited			(6,390,400	)			3.79				(4,126,822	)			2.04
Balance at December 31, 2020			3,424,600			$	4.41				1,672,000			$	4.19

The following table summarizes changes in the simple and performance warrants during the year ended December 31, 2019:

		Simple warrants outstanding				Weighted average exercise price				Performance warrants outstanding				Weighted average exercise price
Balance at December 31, 2018			6,129,866			$	1.80				7,094,822			$	2.04
Granted			4,795,200				6.32				723,200				12.23
Forfeited			(733,866	)			2.32				(366,400	)			1.21
Exercised			(376,200	)			0.85				(1,652,800	)			0.63
Balance at December 31, 2019			9,815,000			$	4.01				5,798,822			$	2.66

Summarizes Outstanding Simple and Performance Warrants

The following table summarizes outstanding simple and performance warrants as at December 31, 2020:

		Warrants outstanding												Warrants exercisable
Range of exercise prices		Number of warrants				Weighted average exercise price				Weighted average contractual life (years)				Number of warrants				Weighted average exercise price				Weighted average contractual life (years)
Simple warrants
$0.63 - $0.94			1,009,400				0.74				3.54				1,009,400				0.74				3.54
$1.25 - $1.88			400,000				1.56				3.59				400,000				1.56				3.59
$2.97 - $4.53			527,200				3.05				3.64				455,200				3.01				3.54
$6.25 - $9.38			1,318,400				6.33				5.18				275,200				6.61				5.10
$12.50 - $37.50			169,600				22.28				6.49				16,000				20.60				4.50
			3,424,600			$	4.41				4.34				2,155,800			$	2.27				3.76
Performance warrants
$0.63 - $0.94			498,667				0.70			n/a					370,667				0.72			n/a
$1.25 - $1.88			282,133				1.42			n/a					247,467				1.40			n/a
$2.97 - $4.53			624,000				3.13			n/a					397,333				3.10			n/a
$6.25 - $9.38			150,933				7.32			n/a					38,400				6.25			n/a
$12.50 - $37.50			116,267				27.52			n/a					—				—			n/a
			1,672,000			$	4.19			n/a					1,053,867			$	1.98			n/a

The following table summarizes outstanding simple and performance warrants as at December 31, 2019:

		Warrants outstanding												Warrants exercisable
Range of exercise prices		Number of warrants				Weighted average exercise price				Weighted average contractual life (years)				Number of warrants				Weighted average exercise price				Weighted average contractual life (years)
Simple warrants
$0.63 - $0.94			4,019,000				0.68				5.62				3,635,000				0.68				5.62
$1.25 - $1.88			560,000				1.50				10.18				560,000				1.50				10.18
$2.97 - $4.53			1,232,000				3.18				5.62				848,000				3.10				5.11
$6.25 - $9.38			3,462,400				6.37				4.50				80,000				6.25				4.44
$12.50 - $37.50			541,600				18.08				7.87				9,600				21.88				9.05
			9,815,000			$	4.01				5.61				5,132,600			$	1.29				6.02
Performance warrants
$0.63 - $0.94			3,700,690				0.64			n/a					3,546,022				0.64			n/a
$1.25 - $1.88			646,933				1.52			n/a					381,334				1.48			n/a
$2.97 - $4.53			788,000				3.09			n/a					490,666				3.08			n/a
$6.25 - $9.38			362,933				6.97			n/a					38,400				6.25			n/a
$12.50 - $37.50			300,266				23.72			n/a					—				—			n/a
			5,798,822			$	2.66			n/a					4,456,422			$	1.02			n/a

Summary of Changes in Stock Options

The following table summarizes changes in stock options during the year ended December 31, 2020:

		Stock options outstanding				Weighted average exercise price
Balance at December 31, 2019			623,850			$	4.33
Granted			481,600				1.16
Forfeited			(384,850	)			4.96
Balance at December 31, 2020			720,600			$	1.82

The following table summarizes changes in the stock options during the year ended December 31, 2019:

		Stock options outstanding				Weighted average exercise price
Balance at December 31, 2018			—			$	—
Granted			623,850				4.33
Balance at December 31, 2019			623,850			$	4.33

Summary of Outstanding Stock Options

The following table summarizes outstanding stock options as at December 31, 2020:

		Stock options outstanding								Stock options exercisable
Exercise prices		Number of options				Weighted average contractual life (years)				Number of options				Weighted average contractual life (years)
$1.15			400,000				9.41				—				—
$1.19			81,600				9.49				81,600				9.49
$3.15			239,000				8.68				77,417				8.63
			720,600				9.18				159,017				9.07

The following table summarizes outstanding stock options as at December 31, 2019:

		Stock options outstanding								Stock options exercisable
Exercise prices		Number of options				Weighted average contractual life (years)				Number of options				Weighted average contractual life (years)
$3.15			373,850				9.21				22,500				4.97
$5.93			250,000				6.37				—				—
			623,850				7.97				22,500				4.97

Summary of Changes in RSUs and DSUs

The following table summarizes changes in RSUs and DSUs as at December 31, 2020:

		RSUs outstanding				DSUs outstanding
Balance at December 31, 2019			48,883				367,924
Granted			3,002,213				3,265,503
Forfeited			(43,813	)			(310,164	)
Exercised			(1,350,367	)			—
Balance at December 31, 2020			1,656,916				3,323,263

The following table summarizes changes in RSUs and DSUs as at December 31, 2019:

		RSUs outstanding				DSUs outstanding
Balance at December 31, 2018			—				—
Granted			107,543				378,080
Forfeited			(700	)			(7,617	)
Settled			—				(2,539	)
Exercised			(57,960	)			—
Balance at December 31, 2019			48,883				367,924

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