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Share-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

Activity of outstanding stock options for the nine months ended September 30, 2025, was as follows:

			Number of stock options						Weighted average exercise price (CAD)
Balance, December 31, 2024			8,649,726						C$3.99
Exercisable, December 31, 2024			6,169,340						C$3.55
Exercised			(899,586)						1.21
Forfeited/expired			(1,651,041)						4.26
Balance, September 30, 2025			6,099,099						C$4.33
Exercisable, September 30, 2025			5,168,349						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			2,480,386						C$2.52
Vested			(556,511)						2.02
Forfeited			(961,875)						2.56
Outstanding, September 30, 2025			962,000						C$2.76

Activity of outstanding stock options for the nine months ended September 30, 2025, is as follows:

			Number of stock options						Weighted average exercise price (USD)
Balance, December 31, 2024			225,000						$4.07
Granted			545,000						$3.10
Exercised			-						-
Forfeited/expired			(168,750)						4.07
Balance, September 30, 2025			601,250						$3.19
Exercisable, September 30, 2025			56,250						$4.07

A summary of the Company’s unvested stock option activity is as follows:

			Number of Shares						Weighted Average Grant Date Fair Value (USD)
Outstanding, December 31, 2024			225,000						$2.05
Granted			545,000						1.72
Vested			(56,250)						2.05
Forfeited			(168,750)						2.05
Outstanding and unvested, September 30, 2025			545,000						$1.72

Schedule of Option Exercise Price Range

As of September 30, 2025, stock options outstanding and exercisable were as follows:

									Options Outstanding									Options Exercisable
									September 30, 2025									September 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$2.40 - 3.79			2,076,431						0.79						C$2.95			2,076,431			C$2.95
C$4.20 - 5.76			4,022,668						1.65						5.04			3,091,918			4.85
			6,099,099						2.44						C$4.33			5,168,349			C$4.08

As of September 30, 2025, stock options outstanding and exercisable were as follows:

									Options Outstanding									Options Exercisable
									September 30, 2025									September 30, 2025
Option price per share			Options #						Weighted average remaining life (years)						Weighted average exercise price (USD)			Options #			Weighted average exercise price (USD)
$3.10- $4.07			601,250						0.45						$3.19			56,250			$4.07
			601,250						0.45						$3.19			56,250			$4.07

Schedule of Options Using the Black-Scholes Option Pricing Model, Weighted-Average Assumptions Used

There were 545,000 options granted during the nine months ended September 30, 2025. The weighted average assumptions used in calculating the fair values as of September 30, 2025, are as follows:

						September 30, 2025
Exercise price						$3.10
Share price						$3.12
Risk-free rate						2.46		%
Expected life (in years)						3.75
Expected volatility						74.09		%
Expected dividend yield						0.00		%
Weighted average grant date fair value						$1.72

Summary of RSU Activity

The following table summarizes the Company’s RSU activity for the nine months ended September 30, 2025:

			Number of RSUs						Weighted Average Remaining Life (years)						Weighted Average Grant Date Fair Value (USD)
Balance, December 31, 2024			-						-						-
Granted			1,225,000						2.39						$3.12
Vested			-						-						-
Forfeited			-						-						-
Balance, September 30, 2025			1,225,000						2.39						$3.12

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