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Share Capital | 9 Months Ended
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Mar. 31, 2023
Share Capital |
Share Capital |
9. | Share Capital
a)Authorized capital Unlimited number of common voting shares without nominal or par value ​ During the nine months ended March 31, 2023, the Company issued a total of 5,750,000 common shares for the exercise of stock options. The Company received proceeds of $5,257,000 and reclassified $2,967,430 from reserve to share capital upon exercise. b)Warrants Warrant transactions are summarized as follows: ​
​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted
​ | ​ | Number of | ​ | average
​ |  | warrants |  | exercise price
Balance at June 30, 2021 |  | 9,813,870 |  | 1.13
Issued |  | 336,877 |  | 11.09
Exercised |  | (6,684,892) |  | 1.12
Expired |  | (3,353) |  | 1.30
Balance at June 30, 2022 and March 31, 2023 |  | 3,462,502 |  | 2.16
​ The weighted average contractual life of the warrants outstanding is 1.39 years. As at March 31, 2023, 3,125,625 warrants with an exercise price of $1.20 with an expiry on June 10, 2024 and 336,877 warrants with an exercise price of $11.09 with an expiry on November 30, 2023 remain outstanding. c)Options The Company has a stock option plan in place under which it is authorized to grant options to officers, directors, employees, consultants and management company employees enabling them to cumulatively acquire up to 10% of the issued and outstanding common stock of the Company. Under the plan, the exercise price of each option shall not be less than the price permitted by any stock exchange. The options can be granted for a maximum term of 10 years. ​ During the nine months ended March 31, 2023, the Company did not grant any options. ​
9. | Share Capital-continued
​ Stock option transactions are summarized as follows: ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Number of | ​ | Weighted average
​ |  | options |  | exercise price
Balance at June 30, 2021 |  | 13,750,784 | ​ | $ | 1.29
Options exercised |  | (4,410,784) | ​ |  | 1.00
Options granted |  | 1,170,000 | ​ |  | 7.35
Options expired | ​ | (340,000) | ​ | ​ | 0.96
Balance at June 30, 2022 |  | 10,170,000 | ​ | $ | 2.11
Options exercised |  | (5,750,000) | ​ |  | 0.91
Balance at March 31, 2023 |  | 4,420,000 | ​ | $ | 3.67
​ The following table summarizes stock options outstanding and exercisable at March 31, 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Options Outstanding | ​ | Options Exercisable
​ | ​ | ​ | ​ | Weighted | ​ | Weighted | ​ | ​ | ​ | Weighted
​ | ​ | ​ | ​ | Average | ​ | Average | ​ | ​ | ​ | Average
Exercise | ​ | Number | ​ | Remaining | ​ | Exercise | ​ | ​ | ​ | Exercise
Price |  | of |  | Contractual Life |  | Price |  | Number |  | Price
$ |  | Shares |  | (years) |  | $ |  | Exercisable |  | $
0.75 | ​ | 200,000 |  | 0.09 | ​ | 0.75 | ​ | 200,000 | ​ | 0.75
1.40 | ​ | 1,450,000 |  | 0.43 | ​ | 1.40 | ​ | 1,450,000 | ​ | 1.40
3.39 | ​ | 1,200,000 |  | 2.81 | ​ | 3.39 | ​ | 1,200,000 | ​ | 3.39
3.43 | ​ | 400,000 |  | 1.04 | ​ | 3.43 | ​ | 400,000 | ​ | 3.43
6.08 | ​ | 200,000 |  | 3.31 | ​ | 6.08 | ​ | 200,000 | ​ | 6.08
6.31 | ​ | 200,000 |  | 3.93 | ​ | 6.31 | ​ | 200,000 | ​ | 6.31
7.55 | ​ | 500,000 |  | 1.88 | ​ | 7.55 | ​ | 500,000 | ​ | 7.55
8.25 | ​ | 170,000 | ​ | 3.96 | ​ | 8.25 | ​ | 170,000 | ​ | 8.25
9.40 | ​ | 100,000 |  | 4.03 | ​ | 9.40 | ​ | 100,000 | ​ | 9.40
​ | ​ | 4,420,000 |  | 1.78 | ​ | 3.67 | ​ | 4,420,000 | ​ | 3.67
​

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