Share Based Compensation Plan

3 Months Ended

Mar. 31, 2020

14	SHARE-BASED COMPENSATION PLAN

Share-based

compensation expense for the three months ended March 31, 2020 and 2019 of

$529

and $1,296, respectively.

Stock option activity for the three months ended March 31, 2020 is as follows:


	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
Outstanding at December 31, 2019		2,452,666		CA$	5.12		5.60	$	11,435
Granted		—			—		—	$	—
Exercised		—			—		—	$	—
Forfeited		(25,000	)	CA$	2.67		—	$	—

Outstanding at March 31, 2020		2,427,666		CA$	5.15		5.34	$	4,215

Exercisable at March 31, 2020		1,890,670		CA$	3.29		4.45	$	4,132

Performance-based shares activity for the three months ended March 31, 2020 was as follows:


	Number of Performance-based Shares			Weighted Average Grant Date Fair Value
Outstanding at December 31, 2019		739,000		CA$	6.58
Granted		10,000		CA$	7.16
Received		—			—
Forfeited/expired		(54,000	)	CA$	8.09

Outstanding at March 31, 2020		695,000		CA$	7.16

Exercisable at March 31, 2020		40,000		CA$	11.44