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Share-Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2025
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock Option Activity | Activity of outstanding stock options for the six months ended June 30, 2025, is as follows:
| Number of stock options |  | Weighted average exercise price (CAD)
Balance, December 31, 2024 | 8,874,726 |  |  | C$4.03
Exercisable, December 31, 2024 | 6,169,340 |  |  | C$3.55
Exercised | (853,376) |  |  | 1.13
Forfeited/expired | (1,466,333) |  |  | 4.18
Balance, June 30, 2025 | 6,555,017 |  |  | C$4.38
Exercisable, June 30, 2025 | 5,350,205 |  |  | C$4.08
A summary of the Company’s unvested stock option activity is as follows:
| Number of Shares |  | Weighted Average Grant Date Fair Value (CAD)
Outstanding, December 31, 2024 | 2,705,387 |  | C$2.54
Vested | (543,699) |  | 1.97 |
Forfeited | (956,875) |  | 2.56 |
Outstanding, June 30, 2025 | 1,204,813 |  | C$2.79
Schedule of Option Exercise Price Range | As of June 30, 2025, stock options outstanding and exercisable were as follows:
|  |  | Options Outstanding | Options Exercisable
|  |  | June 30, 2025 | June 30, 2025
Option price per share (CAD) | Options # |  | Weighted average remaining life (years) |  | Weighted average exercise price (CAD) | Options # | Weighted average exercise price (CAD)
C$0.18 - 1.92 | 5,000 |  |  | 0.00 |  | C$1.20 | 5,000 |  | C$1.20
C$2.40 - 3.79 | 2,119,516 |  |  | 0.84 |  | 2.94 | 2,119,516 |  | 2.94
C$4.20 - 5.76 | 4,430,501 |  |  | 1.84 |  | 5.06 | 3,225,689 |  | 4.83
| 6,555,017 |  |  | 2.68 |  | C$4.38 | 5,350,205 |  | C$4.08
Schedule of Options Using the Black-Scholes Option Pricing Model, Weighted-Average Assumptions Used | The fair value of all compensatory options granted is estimated on the grant date using the Black-Scholes option pricing model. There were no options granted during the six months ended June 30, 2025. The weighted average assumptions used in calculating the fair values as of December 31, 2024, are as follows:
|  | December 31, 2024
|  | (CAD)
Exercise price |  | $5.74
Share price |  | $5.75
Risk-free rate |  | 3.70 | %
Expected life (in years) |  | 3.11
Expected volatility |  | 68.08 | %
Expected dividend yield |  | 0.00 | %
Weighted average grant date fair value |  | $2.78

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- Definition Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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