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Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Schedule of Weighted-Average Assumptions in the Black-Scholes Option Pricing Model

The weighted average assumptions used in the Black-Scholes option pricing model are as follows ($ amounts in CAD):

Weighted Average
Quantity			1,066,500						283,500
Exercise Price			$	3.91					$	3.25
Share Price			$	3.20					$	3.20
Discount Rate			4.19		%				4.19		%
Expected life (years)			2.25						2.25
Volatility			81.81		%				81.81		%
Fair value of finders' warrants (CAD per option)			$	1.38					$	1.54

The fair value of all share purchase warrants granted in conjunction with equity financing is estimated on the grant date using the Black-Scholes option pricing model. The assumptions used in calculating the fair values are as follows:

			02/14/23						02/08/23						03/25/22
Exercise price			C$3.75						C$4.05						C$6.00
Share price			C$3.20						C$3.19						C$4.77
Risk-free rate			3.87		%				3.61		%				2.34		%
Expected life (in years)			3.00						3.00						2.00
Expected volatility			88.55		%				88.69		%				88.76		%
Expected dividend yield			0		%				0		%				0		%
Grant date fair value			C$1.75						C$1.69						C$2.01
Grant date fair value after residual fair value allocation			C$1.06						C$1.36						C$1.60

The fair value of all compensatory options granted is estimated on the grant date using the Black-Scholes option pricing model. The weighted average assumptions used in calculating the fair values are as follows:

			As of December 31,
			2024						2023						2022
Exercise price			C$5.74						C$2.85						C$4.10
Share price			C$5.75						C$2.85						C$3.98
Risk-free rate			3.70		%				3.89		%				1.95		%
Expected life (in years)			3.11						3.13						3.06
Expected volatility			68.08		%				83.19		%				97.29		%
Expected dividend yield			0		%				0		%				0		%
Weighted average grant date fair value			C$2.78						C$1.61						C$2.43

Schedule of Share Purchase Warrant Activity

A summary of the status of the Company’s warrants as of December 31, 2024, December 31, 2023 and December 31, 2022 and changes during the year then ended is as follows:

			Number of Warrants						Weighted Average Exercise Price CAD $
Outstanding, December 31, 2021			6,298,840						2.44
Granted			3,670,919						5.81
Exercised			(2,291,642)						1.39
Expired			(183,611)						1.67
Outstanding, December 31, 2022			7,494,506						4.43
Granted			30,013,783						3.80
Exercised			(6,034,479)						3.35
Expired			(12,006)						2.02
Outstanding, December 31, 2023			31,461,804						4.04
Granted			500						3.90
Exercised			(8,781,985)						3.97
Expired			(2,746,235)						5.95
Outstanding, December 31, 2024			19,934,084						3.81

As of December 31, 2024, share purchase warrants outstanding were as follows:

												Warrants Outstanding December 31, 2024
Warrant Price Per Share CAD $						Number of Warrants						Weighted Average Remaining Life (years)						Weighted Average Exercise Price CAD $
3.25						2,369						0.00						3.25
3.91						75						0.00						3.91
4.05						3,835,440						0.21						4.05
3.75						16,096,200						0.91						3.75
Total						19,934,084						1.12						3.81

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Tabular disclosure of activity for outstanding award under share-based payment arrangement excluding share and unit options and nonvested award.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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