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COMMON STOCK
 6 Months Ended
Dec. 31, 2020
Equity [Abstract]  
COMMON STOCK
7. COMMON STOCK
     
  a) Stock Options

 

      Number of Options     Weighted Average Exercise Price (C$)  
Balance, June 30, 2020       19,129,409     $ 0.62  
  Granted       3,700,000       0.78  
  Exercised       (438,617 )     0.56  
  Cancelled/expired       (165,883 )     0.47  
Balance, December 31, 2020       22,224,909     $ 0.65  

 

The Company granted 3,700,000 options at an average fair value price of $C0.25 per option, based on Black-Scholes models with an average risk-free rate of 0.26%, average stock price volatility of 54.07%, and a three-year expected option life.

 

The following table summarizes information about options to purchase Common Shares (“Options”) outstanding at December 31, 2020: 

 

Exercise Price (C$)     Expiry Date   Number Outstanding     Aggregate Intrinsic Value     Number Exercisable     Aggregate Intrinsic Value  
$ 0.62     January 19, 2021     4,684,909     C$ 890       4,684,909     C$ 890  
$ 0.94     July 21, 2021     540,000       —       540,000       —  
$ 0.76     March 6, 2022     5,400,000       270       5,400,000       270  
$ 0.47     November 9, 2022     3,455,000       1,175       3,455,000       1,175  
$ 0.84     September 18, 2023     1,300,000       —       1,300,000       —  
$ 0.54     November 15, 2023     4,445,000       1,200       4,445,000       1,200  
$ 0.75     December 14, 2023     1,850,000       111       1,850,000       111  
$ 0.75     December 16, 2023     550,000       33       550,000       33  
              22,224,909     C$ 3,679       22,224,909     C$ 3,679  

 

The aggregate intrinsic value in the preceding table represents the total intrinsic value, based on the Company’s closing Common Share price of C$0.81 as of December 31, 2020, that would have been received by the Option holders had all Option holders exercised their Options as of that date. The total number of in-the-money Options vested and exercisable as of December 31, 2020, was 17,239,909. As of December 31, 2020, there was $0 of unrecognized compensation cost related to unvested share-based compensation arrangements granted under the Option plans.

 

 

  b) Warrants

 

      Warrants     Weighted Average Exercise Price  
Balance June 30, 2020       12,376,451     C$ 0.74  
  Granted       500,000       0.80  
  Exercised       (2,777,422 )     0.71  
  Expired       (388,535 )     0.75  
Balance, December 31, 2020       9,710,494     C$ 0.75  

 

 At December 31, 2020, the Company had outstanding exercisable Warrants, as follows: 

 

Number     Exercise Price     Expiry Date
  1,546,882     C$ 0.72     January 30, 2021
  529,344     C$ 0.70     February 5, 2021
  541,435     C$ 0.69     February 7, 2021
  1,058,872     C$ 0.72     April 5, 2021
  833,330     C$ 0.72     April 29, 2021
  645,250     C$ 0.72     May 9, 2021
  1,035,319     C$ 0.77     July 9, 2021
  3,020,062     C$ 0.79     July 26, 2021
  500,000     C$ 0.80     December 18, 2022
  9,710,494