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Shareholders' Equity (Tables) | 12 Months Ended
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Dec. 31, 2023
Disclosure of terms and conditions of share-based payment arrangement [abstract] |
Disclosure of detailed information about number and weighted average exercise prices of share options | During the years ended December 31, 2023 and 2022, the change in stock options outstanding was as follows:
| Number |  | Weighted Average Exercise Price (C$)
Balance as at December 31, 2021 | 7,108,500 |  |  | $ | 2.33 |
Granted | 1,970,500 |  |  | 2.55 |
Exercised | (1,110,000) |  |  | 1.22 |
Forfeited | (120,000) |  |  | 3.07 |
Balance as at December 31, 2022 | 7,849,000 |  | $ | 2.53 |
Granted | 1,464,000 |  |  | 2.55 |
Exercised | (1,314,000) |  |  | 1.31 |
Forfeited | (164,500) |  |  | 3.29 |
Balance as at December 31, 2023 | 7,834,500 |  | $ | 2.72 |
Disclosure of detailed information about exercise prices of outstanding share options | The following table summarizes information about the stock options which were outstanding and exercisable at December 31, 2023:
Date Granted | Number of Options |  | Exercisable |  | Exercise Price (C$) |  | Expiry Date
June 6, 2019 | 1,315,000 |  | 1,315,000 |  | 1.70 |  |  | June 6, 2024
November 18, 2019 | 30,000 |  | 30,000 |  | 1.80 |  |  | November 18, 2024
January 21, 2020 | 60,000 |  | 60,000 |  | 2.22 |  |  | January 21, 2025
April 22, 2020 | 20,000 |  | 20,000 |  | 2.50 |  |  | April 22, 2025
June 10, 2020 | 1,387,500 |  | 1,387,500 |  | 2.62 |  |  | June 10, 2025
October 5, 2020 | 19,000 |  | 19,000 |  | 3.50 |  |  | October 5, 2025
May 6, 2021 | 1,147,500 |  | 1,147,500 |  | 4.11 |  |  | May 6, 2026
May 12, 2021 | 15,000 |  | 15,000 |  | 4.28 |  |  | May 12, 2026
August 19, 2021 | 500,000 |  | 500,000 |  | 3.66 |  |  | August 19, 2026
September 8, 2021 | 10,000 |  | 10,000 |  | 3.51 |  |  | September 8, 2026
April 29, 2022* | 1,755,500 |  | 1,755,500 |  | 2.56 |  |  | April 29, 2027
July 5, 2022 | 100,000 |  | 100,000 |  | 2.45 |  |  | July 5, 2027
July 20, 2022 | 11,000 |  | 11,000 |  | 2.45 |  |  | July 20, 2027
September 11, 2023* | 1,464,000 |  | 1,440,000 |  | 2.55 |  |  | September 11, 2028
Balance as at December 31, 2023 | 7,834,500 |  | 7,810,500 |  |  |  |
*Includes options granted for investor relations services that vest 25% every 4 months from the date of grant.
Disclosure of detailed information about options valuation assumptions | The fair value of stock options granted was estimated using the Black-Scholes option pricing model with weighted average assumptions as follows:
|  | As at December 31,
| 2023 |  |  | 2022 |
Risk free interest rate (%) | 3.96 |  |  | 2.76 |
Expected life (years) | 5.0 |  |  | 5.0 |
Expected volatility (%) | 45.6 |  |  | 48.7 |
Dividend yield (%) | 0.0 |  |  | 0.0 |
Disclosure of detailed information about restricted share units | During the years ended December 31, 2023 and 2022, the change in RSUs outstanding was as follows:
| Number
Balance as at December 31, 2021 | 1,219,500 |
Vested | (241,750) |
Forfeited | (77,750) |
Granted | 520,000 |
Balance as at December 31, 2022 | 1,420,000 |
Vested | (365,500) |
Forfeited | (104,500) |
Granted | 562,000 |
Balance as at December 31, 2023 | 1,512,000 |
Disclosure of detailed information about restricted share units outstanding | The following table summarizes information about the RSUs which were outstanding at December 31, 2023:
Evaluation Date | December 31, 2022 |  | Granted |  | Vested |  | Expired/Cancelled |  | December 31, 2023
December 31, 2022 | 430,000 |  |  | - |  |  | (365,500) |  |  | (64,500) |  |  | - |
December 31, 2023 | 470,000 |  |  | - |  |  | - |  |  | (20,000) |  |  | 450,000 |
December 31, 2024 | 520,000 |  |  | - |  |  | - |  |  | (20,000) |  |  | 500,000 |
December 31, 2025 | - |  |  | 562,000 |  |  | - |  |  | - |  |  | 562,000 |
Total | 1,420,000 |  |  | 562,000 |  |  | (365,500) |  |  | (104,500) |  |  | 1,512,000 |

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