XML 166 R30.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2

AMALGAMATION (Tables)

12 Months Ended

Dec. 31, 2023

AMALGAMATION

Schedule of allocation of costs of the acquisition

​

​	​	​	​
​	​	$
FV of shares transferred		​	77,431,152
FV of options, warrants and agent warrants	​		9,665,577
FV of preferred shares	​		31,516
Settlement of pre-existing relationship – 15% warrant and shares*	​		(47,985,863)
​	​	​	​
Total FV of consideration transferred	​	​	39,142,383
​	​	​	​
Cash	​	​	11,051,917
Trade and other receivables	​		450,522
Property, plant and equipment	​		14,111
Trade payables and accrued liabilities	​		(1,548,582)
Net assets acquired	​		9,967,968
​	​	​	​
Reduction to additional paid-in capital as a result of the recapitalization	​		29,174,415
​	​	​	39,142,383

​

*Pre-existing relationship

Before the closing of the RTO, NAN owned 7,667,707 common shares of PNRC and a 15% warrant which entitled NAN to purchase common shares of PNRC for up to 15% of the then outstanding capital of PNRC upon payment of USD 10,000,000 prior to the fifth anniversary of the date of issue (the “15% Warrant”). Prior to the date that the Amalgamation became effective, the PNRC shares and the 15% Warrant held by NAN were contributed to NAN Subco, as part of the securities contribution, resulting in such securities being cancelled at law by operation of the triangular amalgamation.

Prior to the RTO, the fair value of the 15% Warrant and the shares held by NAN were $28,275,255 and $19,710,608, respectively. The fair value of the shares was calculated based on the last offer price of PNRC’s financing prior to the RTO, and the fair value of the warrants was calculated using the Black-Sholes Model with the following assumptions: expected life of 2.57 years, expected dividend yield of 0%, a risk free rate of 3.14% and an expected volatility of 141.63%. As they were the securities contributed by NAN on the closing of the RTO, the fair value of the warrants and shares were included as part of the consideration on the acquisition date.

Schedule of assumptions used in determination of fair value of NAN's options and warrants

​

​	​	​	​	​
As of August 3, 2022		Warrants		Options
Expected dividend yield		0%		0%
Expected forfeiture rate	​	0%		0%
Share price of last financing		$0.48		$0.48
Expected share price volatility		64.91% -113.22%		133.15% - 143.3%
Risk free interest rate		3.18%		2.85% - 3.08%
Remaining life of warrants & options		–.03 - 2 years		2.56 – 4.23 years

X

- References

No definition available.

+ Details

Name:	us-gaap_AssetAcquisitionAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of asset acquisition.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 805
-SubTopic 50
-Name Accounting Standards Codification
-Section 15
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480123/805-50-15-3

+ Details

Name:	us-gaap_AssetAcquisitionTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration