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Share capital

12 Months Ended

Dec. 31, 2021

Share capital

12 Share capital

Common shares

The Company is authorized to issue an unlimited number of common shares.

Issued and outstanding (with no par value)


		2021		2020
		$		$

20,776,217 (2020 – 20,208,948) common shares		219,579		211,527

On July 21, 2020, the Company closed an offering, resulting in the issuance of 3,172,414 common shares at a price of $14.50, for gross proceeds of $46,000 ($42,721, net of transaction costs).

On January 27, 2020, the Company closed an offering, resulting in the issuance of 3,392,500 common shares at a price of $11.65, for gross proceeds of $39,523 ($36,373, net of transaction costs).

Warrants

A summary of warrants outstanding is shown below:


						Weighted
				Weighted		average
				average		remaining
				exercise		contractual
		Number of		price		life
		warrants		C$		(years)

Balance - January 1, 2020		2,779,898		14.20		2.49
Granted		(1,556,154)		14.08		1.82
Balance - December 31, 2020		1,223,744		14.35		1.68
Expired		(13,600)		15.50		—
Exercised		(485,161)		15.33		0.32
Balance - December 31, 2021		724,983		13.81		1.23