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Share Based Payments (Tables)
 12 Months Ended
Dec. 31, 2018
Disclosure of share-based payment arrangement [Abstract]  
Schedule of stock options and weighted average exercise prices of share options
We have issued stock options to acquire common stock through our stock option plan of which the following are outstanding at December 31:
 
2018
2017
2016
 
Stock Options
Weighted Average Exercise Price
$
Stock Options
Weighted Average Exercise Price
$
Stock Options
Weighted Average Exercise Price
$
Outstanding, beginning of the year
647,156

13.20
912,995

17.42
901,114

20.58
Granted during the year
750,467

4.97
42,625

4.60
165,460

2.67
Forfeited during the year
(105,338
)
11.67
(211,847
)
32.80
(77,629
)
6.18
Expired during the year
(1,122
)
13.78
(12,302
)
21.13
(75,950
)
34.27
Exercised during the year
(41,802
)
2.96
(84,315
)
4.07
—

—
Outstanding, end of the
  year
1,249,361

8.73
647,156

13.20
912,995

17.42
Options exercisable, end of the year
777,245

11.04
573,984

14.36
689,883

22.03
Schedule of stock options outstanding and exercisable by range of exercise price
The following table summarizes information about the stock options outstanding and exercisable at December 31, 2018:
Range of Exercise Prices
Number Outstanding
Weighted Average Remaining Contractual Life (years)
Weighted Average Exercise Price
$
Number Exercisable
Weighted Average Exercise Price
$
$2.47 - $3.99
711,827

5.95
3.21
442,231

3.25
$4.84 - $7.81
335,092

3.76
7.21
132,572

7.09
$13.77 - $19.00
92,308

4.63
16.94
92,308

16.94
$20.23 - $36.96
51,777

2.71
32.29
51,777

32.29
$38.09 - $63.84
58,357

2.93
50.85
58,357

50.85
 
1,249,361

4.99
8.73
777,245

11.04
Schedule of weighted average remaining contractual life and outstanding stock options by exercise price
The following table summarizes our outstanding warrants at December 31, 2018:
Exercise Price
Outstanding, Beginning of the Year
Exercised During the Year
Outstanding, End of the Year(1)
Weighted Average Remaining Contractual Life (years)
$
9.025

16,445,000

(1,500
)
16,443,500

3.42


(1)     Exercisable into 1,730,894 common shares.
The following table summarizes information about the stock options outstanding and exercisable at December 31, 2018:
Range of Exercise Prices
Number Outstanding
Weighted Average Remaining Contractual Life (years)
Weighted Average Exercise Price
$
Number Exercisable
Weighted Average Exercise Price
$
$2.47 - $3.99
711,827

5.95
3.21
442,231

3.25
$4.84 - $7.81
335,092

3.76
7.21
132,572

7.09
$13.77 - $19.00
92,308

4.63
16.94
92,308

16.94
$20.23 - $36.96
51,777

2.71
32.29
51,777

32.29
$38.09 - $63.84
58,357

2.93
50.85
58,357

50.85
 
1,249,361

4.99
8.73
777,245

11.04
Disclosure weighted average assumptions and fair value of options
The estimated fair value of stock options issued during the year was determined using the Black Scholes Option Pricing Model using the following weighted average assumptions and fair value of options:
 
2018
2017
2016
Risk-free interest rate
2.02%
1.18%
0.82%
Expected hold period to exercise
3.0 years
3.0 years
3.0 years
Volatility in the price of the Company's shares
81.15%
90.73%
94.84%
Rate of forfeiture
3.67%
3.67%
3.67%
Dividend yield
Nil
Nil
Nil
Weighted average fair value of options
$2.67
$2.65
$1.59
Schedule of number of other equity instruments
The following PSUs are outstanding at December 31:
 
2018
2017
2016
Outstanding, beginning of the year
94,734

88,419

—

Granted during the year
—

6,315

157,892

Forfeited during the year
(31,578
)
—

(69,473
)
Outstanding, end of the year
63,156

94,734

88,419

(1)     The weighted average fair value of the PSUs granted was nil in 2018 (2017 - $3.33; 2016 - $3.38).
The following RSUs are outstanding at December 31:
 
2018
2017
2016
Outstanding, beginning of the year
190,407

139,237

38,823

Granted during the year
102,855

51,170

110,940

Forfeited during the year
(4,210
)
—

(10,526
)
Vested during the year
(28,297
)
—

—

Outstanding, end of the year
260,755

190,407

139,237

(1)The weighted average fair value of the RSUs granted was $3.35 in 2018 (2017 - $5.96; 2016 - $2.92).