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SHARE CAPITAL, WARRANTS AND OPTIONS (Tables)

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

SCHEDULE OF FAIR VALUE OF WARRANTS

 SCHEDULE OF FAIR VALUE OF WARRANTS

		June 14, 2024				June 21, 2024
Expected dividend yield			0	%			0	%
Stock price		$	0.81			$	0.84
Expected share price volatility			83.17	%			83.71	%
Risk free interest rate			3.23	%			3.30	%
Expected life of warrant			5 years				5 years

SCHEDULE OF FAIR VALUE OF WARRANTS IN CONNECTION WITH FINANCING TRANSACTIONS

The fair value of the Transferable Warrants in connection with the February 2023 Financing and the 2023 Financing Transactions were calculated using the following assumptions:

 SCHEDULE OF FAIR VALUE OF WARRANTS IN CONNECTION WITH FINANCING TRANSACTIONS

		February 24, 2023				June 28, 2023
Expected dividend yield			0	%			0	%
Expected forfeiture rate			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

SUMMARY OF COMMON SHARE PURCHASE WARRANT ACTIVITY

The following summarizes common share purchase warrant activity for the six months ended June 30, 2024:

 SUMMARY OF COMMON SHARE PURCHASE WARRANT ACTIVITY

		June 30, 2024								December 31, 2023
		Number Outstanding				Weighted Average Exercise Price ($)				Number Outstanding				Weighted Average Exercise Price ($)
Outstanding, beginning of the period			6,891,099				1.50				1,098,786				1.96
Issued			36,281,409				1.10				6,595,448				1.46
Exercised			-				-				(100,000	)			(1.75	)
Expired			(350,000	)			(1.75	)			(703,135	)			(1.80	)
Outstanding, end of the period			42,822,508				1.16				6,891,099				1.50

At June 30, 2024, the Company had outstanding common share purchase warrants exercisable to acquire Common Shares as follows:

Warrants Outstanding				Expiry Date		Exercise Price ($)				Weighted Average remaining contractual life (years)
	295,651			August 3, 2024			2.40				0.00
	221,448			February 24, 2025			1.75				0.00
	5,324,000			June 28, 2026			1.44				0.25
	700,000			June 28, 2026			1.44				0.03
	20,259,614			June 14, 2029			1.10				2.35
	16,021,795			June 21, 2029			1.10				1.86
	42,822,508										4.49

SCHEDULE OF OPTION ACTIVITY

A summary of option activity under the Plan during the six months ended June 30, 2024 and the year ended December 31, 2023 is as follows:

 SCHEDULE OF OPTION ACTIVITY

		June 30, 2024								December 31, 2023
		Number Outstanding				Weighted Average Exercise Price ($)				Number Outstanding				Weighted Average Exercise Price ($)
Outstanding, beginning of the period			13,487,921				1.39				10,407,044				1.10
Issued			-				-				3,833,277				1.75
Exercised			(278,100	)			(0.86	)			(488,900	)			(0.49	)
Cancelled			(150,000	)			(1.75	)			(263,500	)			(2.40	)
Outstanding, end of the period			13,059,821				1.39				13,487,921				1.39

SCHEDULE OF FAIR VALUE OF STOCK OPTION GRANTED

The fair value of stock options granted during the year ended December 31, 2023 was determined using the following assumptions:

 SCHEDULE OF FAIR VALUE OF STOCK OPTION GRANTED

		December 31, 2023
Expected dividend yield			0	%
Expected forfeiture rate			0	%
Expected share price volatility			87.92	%
Risk free interest rate			4.28-4.68%
Expected life of options			3-4 years

SCHEDULE OF DETAILS OF OPTIONS OUTSTANDING

Details of options outstanding as at June 30, 2024 are as follows:

 SCHEDULE OF DETAILS OF OPTIONS OUTSTANDING

Options Outstanding				Options Exercisable				Expiry Date		Exercise Price ($)				Weighted average remaining contractual life (years)
	660,000				660,000			February 24, 2025			0.80				0.03
	240,000				240,000			August 19, 2025			0.45				0.02
	3,320,100				3,320,000			January 26, 2026			0.39				0.40
	495,000				495,000			February 25, 2026			1.60				0.06
	1,185,750				1,185,750			September 29, 2026			0.91				0.20
	998,794				998,794			October 25, 2026			2.00				0.18
	2,476,900				2,476,900			January 20, 2027			2.40				0.49
	3,683,277				-			August 8, 2028			1.75				1.16
	13,059,821				9,376,444										2.54

SCHEDULE OF DSU GRANTED

During the six months ended June 30, 2024, DSUs were granted as follows:

 SCHEDULE OF DSU GRANTED

		Number Outstanding				Market Price (1) ($)				Fair Value ($)
DSUs outstanding at December 31, 2023			730,975				1.21				884,481
DSUs granted during the period			662,701				0.85				564,913
Fair value adjustment			-								(320,516	)
DSUs outstanding at June 30, 2024			1,393,676				0.81				1,128,878

⁽¹⁾ Under 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.

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