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Shareholders' Equity (Tables)

12 Months Ended

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