XML 174 R38.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2

SHARE CAPITAL, WARRANTS AND OPTIONS (Tables)

12 Months Ended

Dec. 31, 2023

SHARE CAPITAL, WARRANTS AND OPTIONS

Schedule of assumptions used to calculate fair value of the warrants in connection with financing transactions

​

​	​	​	​	​	​	​	​
​		February 24, 2023			June 28, 2023
Expected dividend yield		​	0	%	​	0	%
Stock price	​	$	1.73	​	$	1.35	​
Expected share price volatility	​		77.52	%		92.06	%
Risk free interest rate	​		4.28	%		4.13	%
Expected life of warrant	​		2	years		3	years

Schedule of common share purchase warrant activity and outstanding common share purchase warrants exercisable to acquire common shares

​

​	​	​	​	​	​	​	​	​
​		December 31, 2023				December 31, 2022
​		​		Weighted		​		Weighted
​	​	​	​	Average	​	​	​	Average
​	​	Number	​	Exercise Price	​	Number	​	Exercise Price
​	​	Outstanding	​	($)	​	Outstanding	​	($)
Outstanding, beginning of the year	​	1,098,786	​	1.96	​	—	​	—
Adjustment pursuant to the RTO	​	​	​	​	​	2,228,340	​	1.11
Issued	​	6,595,448	​	1.46	​	119,229	​	2.04
Exercised	​	(100,000)	​	1.75	​	(1,236,408)	​	0.46
Cancelled/expired	​	(703,135)	​	1.80	​	(12,375)	​	0.45
Outstanding, end of the year	​	6,891,099	​	1.50	​	1,098,786	​	1.96

​

At December 31, 2023, the Company had outstanding common share purchase warrants exercisable to acquire common shares of the Company as follows:

​

​	​	​	​	​	​	​
​		​		Exercise Price		Weighted Average remaining
Warrants Outstanding	​	Expiry Date	​	($)	​	contractual life (years)
295,651	​	August 3, 2024		2.40		0.02
221,448	​	February 24, 2025		1.75		0.04
350,000	​	March 17, 2024		1.75		0.01
5,324,000	​	June 28, 2026		1.44		1.93
700,000	​	June 28, 2026		1.44		0.25
6,891,099	​	​				2.25

​

At December 31, 2022, the Company had outstanding common share purchase warrants exercisable to acquire common shares of the Company as follows:

​

​	​	​	​	​	​	​
​		​		Exercise Price		Weighted Average remaining
Warrants Outstanding	​	Expiry Date	​	($)	​	contractual life (years)
683,905	​	April 16, 2023		1.75		0.18
295,652	​	August 3, 2024		2.40		0.43
119,229	​	November 25, 2023		2.04		0.10
1,098,786	​	​				0.71

Schedule of option activity

​

​	​	​	​	​	​	​	​	​
​		December 31, 2023				December 31, 2022
​		​		Weighted		​		Weighted
​	​	​	​	Average	​	​	​	Average
​	​	Number	​	Exercise Price	​	Number	​	Exercise Price
​	​	Outstanding	​	($)	​	Outstanding	​	($)
Outstanding, beginning of the year	​	10,407,044	​	1.10	​	2,995,794	​	1.33
Issued	​	3,833,277	​	1.75	​	8,827,250	​	1.16
Exercised	​	(488,900)	​	0.49	​	(1,416,000)	​	0.46
Cancelled	​	(263,500)	​	2.40	​	—	​	—
Outstanding, end of the year	​	13,487,921	​	1.39	​	10,407,044	​	1.10

Schedule of assumptions used to calculate the fair value of stock options granted

​

​	​	​	​	​	​
​		December 31, 2023		December 31, 2022
Expected dividend yield		0	%	0	%
Expected forfeiture rate	​	0	%	0	%
Expected share price volatility		87.92	%	125.83%-129.48	%
Risk free interest rate		4.28-4.68	%	0.42%-2.85	%
Expected life of options		3-4	years	4.16-5	years

Schedule of details of options outstanding

Details of options outstanding as at December 31, 2023 are as follows:

​

​	​	​	​	​	​	​	​	​
​		​		​		​		Weighted average
Options	​	Options	​	Expiry	​	Exercise	​	remaining contractual life
Outstanding	​	Exercisable	​	Date	​	Price ($)	​	(years)
780,000		780,000	​	February 24, 2025		0.80		0.07
240,000		240,000	​	August 19, 2025		0.45		0.03
3,320,100		3,320,000	​	January 26, 2026		0.39		0.50
495,000		495,000	​	February 25, 2026		1.60		0.08
1,343,850		1,343,850	​	September 29, 2026		0.91		0.27
998,794		998,794	​	October 25, 2026		2.00		0.20
2,476,900		2,476,900	​	January 20, 2027		2.40		0.56
3,833,277		—	​	August 8, 2028		1.75		1.31
13,487,921		9,654,544	​	​				3.04

​

Details of options outstanding as at December 31, 2022 are as follows:

​

​	​	​	​	​	​	​	​	​
​		​		​		​		Weighted average
Options	​	Options	​	Expiry	​	Exercise	​	remaining contractual life
Outstanding	​	Exercisable	​	Date	​	Price ($)		( years)
900,000		900,000	​	February 24, 2025		0.80		0.19
240,000		240,000	​	August 19, 2025		0.45		0.06
3,689,000		3,689,000	​	January 26, 2026		0.39		1.09
495,000		495,000	​	February 25, 2026		1.60		0.15
1,343,850		1,343,850	​	September 29, 2026		0.91		0.48
998,794		998,794	​	October 25, 2026		2.00		0.37
2,740,400		2,740,400	​	January 20, 2027		2.62		1.07
10,407,044		10,407,044	​	​				3.41

​

Schedule of DSU granted

​

​	​	​	​	​	​	​
​		Number		Market Price 1		Fair Value
​	​	Outstanding	​	($)	​	($)
DSUs outstanding at December 31, 2022		200,000		1.49		298,000
DSUs granted during the year2		600,951		1.33		798,122
DSUs redeemed during the year		(69,976)		1.19		(83,527)
Fair value adjustment		—		​		(128,114)
DSUs outstanding at December 31, 2023		730,975		1.21		884,481

​

1. According to the DSU plan, Market Price is the volume weighted average price on the TSXV for the last five trading days immediately preceding the grant date.

2. DSUs were granted on March 31, Jun 30, Sept 30 and December 31, 2023. The market price of $1.33 represented the weighted average price for those grants.

​

​	​	​	​	​	​	​
​		Number		Market Price		Fair Value
​	​	Outstanding	​	($)	​	($)
DSUs outstanding at December 31, 2021		—		—		—
DSUs granted during the year		200,000		1.49		298,000
DSUs outstanding at December 31, 2022		200,000		1.49		298,000

X

- Definition

The tabular disclosure of fair value assumptions used to calculate the fair value of warrants.

+ References

No definition available.

+ Details

Name:	pnrlf_ScheduleOfStockholdersEquityNoteWarrantsOrRightsValuationAssumptionsTableTextBlock
Namespace Prefix:	pnrlf_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

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

X

- Definition

Tabular disclosure of activity for outstanding award under share-based payment arrangement excluding share and unit options and nonvested award.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

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

X

- Definition

Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

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

X

- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Subparagraph (f)(2)
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

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

X

- Definition

Tabular disclosure of the change in stock options.

+ References

No definition available.

+ Details

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

X

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-1

+ Details

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