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Share - Based Compensation (Tables) | 12 Months Ended
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Oct. 31, 2021
Share Based Compensation |
Schedule of changes in number of stock options with their weighted average exercise prices | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | October 31, 2021 | ​ | October 31, 2020
​ | ​ | Number of | ​ | Weighted Average | ​ | Number of | ​ | Weighted Average
​ | ​ | options |  | Exercise Price ($) |  | options |  | Exercise Price ($)
Balance, beginning of year |  | 620,666 |  | 7.50 |  | 707,333 |  | 7.50
Granted (i) |  | 2,058,885 |  | 6.12 |  | 13,333 |  | 7.50
Forfeited |  | (448,051) |  | 9.51 |  | (100,000) |  | 7.50
Exercised |  | (325,371) |  | 3.73 |  | - |  | -
Balance, end of period |  | 1,906,129 |  | 6.51 |  | 620,666 |  | 7.50
Exercisable, end of period |  | 596,666 |  | 7.55 |  | 491,375 |  | 7.50
​ For the year ended October 31, 2021, the Company recorded share-based compensation related to options of $3,282 (2020 - $129) for the year ended October 31, 2021.
| (i) | On November 18, 2020, the Company acquired all the issued and outstanding shares of Meta which resulted in acquiring 245,552 post-consolidation options outstanding on the date of closing. The fair value of the options acquired were calculated using the Black-Scholes option pricing model valued using the Black-Scholes model and the following assumptions were used: stock price of $0.18 pre-consolidation ($2.70 post-consolidation); expected life of 1 years; $nil dividends; expected volatility of 100%; exercise price as per the plan times the exchange ratio of 0.824; and a risk-free interest rate of 0.52%.
| (ii) | During the year ended October 31, 2021 the Company granted a total of 2,058,885 post-consolidation options to directors, officers, employees and consultants of the Company and its subsidiaries. Included in the total issuances was 1,813,333 post-consolidation options that were issued through four significant issuances. The 1,330,000 options issued on November 20, 2020 were valued using the Black-Scholes model and the following assumptions were used: stock price of $2.78; expected life of 2 years; $nil dividends; expected volatility of 94.2%; exercise price of $3.00; and a risk-free interest rate of 0.3%. The 406,667 options issued on March 19, 2021 were valued using the Black-Scholes model and the following assumptions were used: stock price of $12.15; expected life of 2 years; $nil dividends; expected volatility of 103.7%; exercise price of $11.55; and a risk-free interest rate of 0.3%. The 63,333 options issued on May 10, 2021 were valued using the Black-Scholes model and the following assumption were used: stock price $9.15; expected life of 1.5 years; $nil dividends; expected volatility of 108.3%; exercise price of $9.00; and a risk-free interest rate of 0.3%. The 13,333 options issued on July 6, 2021 were valued using the Black-Scholes model and the following assumptions were used: stock price $9.27; expected life of 2 years; $nil dividends; expected volatility of 103.8%; exercise price of $9.39; and a risk-free interest rate of 0.5%.
(ii) | Number of stock options and share award disclosures have been retrospectively restated for all periods to reflect the Share Consolidation effected on May 13, 2021 (Note 2(a)).

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