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SHARE CAPITAL, WARRANTS AND OPTIONS (Tables) | 9 Months Ended
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Sep. 30, 2024
Class of Warrant or Right [Line Items] |
SUMMARY OF COMMON SHARE PURCHASE WARRANT ACTIVITY | The following summarizes common share purchase warrant activity: SUMMARY OF COMMON SHARE PURCHASE WARRANT ACTIVITY
|  | Nine months ended September 30, 2024 |  |  | Year ended December 31, 2023 |
|  | Number Outstanding |  |  | Weighted Average Exercise Price ($) |  |  | Number Outstanding |  |  | Weighted Average Exercise Price ($) |
Outstanding, beginning of the year |  |  | 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 |  |  | (645,651 | ) |  |  | (2.05 | ) |  |  | (703,135 | ) |  |  | (1.80 | )
Outstanding, end of the period |  |  | 42,526,857 |  |  |  | 1.15 |  |  |  | 6,891,099 |  |  |  | 1.50 |
SCHEDULE OF DETAILS OF WARRANTS OUTSTANDING | At September 30, 2024, the Company had outstanding common share purchase warrants exercisable to acquire Common Shares as follows: SCHEDULE OF DETAILS OF WARRANTS OUTSTANDING
Warrants Outstanding |  |  | Expiry Date |  | Exercise Price ($) |
| 221,448 |  |  | February 24, 2025 |  |  | 1.75 |
| 5,324,000 |  |  | June 28, 2026 |  |  | 1.44 |
| 700,000 |  |  | June 28, 2026 |  |  | 1.44 |
| 20,259,614 |  |  | June 14, 2029 |  |  | 1.10 |
| 16,021,795 |  |  | June 21, 2029 |  |  | 1.10 |
| 42,526,857 |  |  |  |  |  |  |
SCHEDULE OF OPTION ACTIVITY | The following summarizes the option activity under the Plan: SCHEDULE OF OPTION ACTIVITY
|  | Nine months ended September 30, 2024 |  |  | Year ended December 31, 2023 |
|  | Number Outstanding |  |  | Weighted Average Exercise Price ($) |  |  | Number Outstanding |  |  | Weighted Average Exercise Price ($) |
Outstanding, beginning of the year |  |  | 13,487,921 |  |  |  | 1.39 |  |  |  | 10,407,044 |  |  |  | 1.10 |
Issued |  |  | 3,110,000 |  |  |  | 1.10 |  |  |  | 3,833,277 |  |  |  | 1.75 |
Exercised |  |  | (278,100 | ) |  |  | (0.86 | ) |  |  | (488,900 | ) |  |  | (0.49 | )
Cancelled |  |  | (150,000 | ) |  |  | (1.75 | ) |  |  | (263,500 | ) |  |  | (2.40 | )
Outstanding, end of the period |  |  | 16,169,821 |  |  |  | 1.34 |  |  |  | 13,487,921 |  |  |  | 1.39 |
SCHEDULE OF FAIR VALUE OF STOCK OPTION GRANTED | The fair value of stock options granted was determined using the following assumptions: SCHEDULE OF FAIR VALUE OF STOCK OPTION GRANTED
|  | Nine months ended September 30, 2024 |  |  | Year ended December 31, 2023 |
Expected dividend yield |  |  | 0 | % |  |  | 0 | %
Expected forfeiture rate |  |  | 0 | % |  |  | 0 | %
Expected share price volatility |  |  | 117.60 | % |  |  | 87.92 | %
Risk free interest rate |  |  | 2.91%-3.23% |  |  |  | 4.28-4.68% |
Expected life of options |  |  | 2.5-3.5 years |  |  |  | 3-4 years |
SCHEDULE OF DETAILS OF OPTIONS OUTSTANDING | Details of options outstanding as at September 30, 2024 are as follows: SCHEDULE OF DETAILS OF OPTIONS OUTSTANDING
Options Outstanding |  |  | Options Exercisable |  |  | Expiry Date |  | Exercise Price ($) |
| 660,000 |  |  |  | 660,000 |  |  | February 24, 2025 |  |  | 0.80 |
| 240,000 |  |  |  | 240,000 |  |  | August 19, 2025 |  |  | 0.45 |
| 3,320,100 |  |  |  | 3,320,000 |  |  | January 26, 2026 |  |  | 0.39 |
| 495,000 |  |  |  | 495,000 |  |  | February 25, 2026 |  |  | 1.60 |
| 1,185,750 |  |  |  | 1,185,750 |  |  | September 29, 2026 |  |  | 0.91 |
| 998,794 |  |  |  | 998,794 |  |  | October 25, 2026 |  |  | 2.00 |
| 2,476,900 |  |  |  | 2,476,900 |  |  | January 20, 2027 |  |  | 2.40 |
| 3,683,277 |  |  |  | 1,227,759 |  |  | August 8, 2028 |  |  | 1.75 |
| 3,110,000 |  |  |  | 1,036,666 |  |  | August 14, 2029 |  |  | 1.10 |
| 16,169,821 |  |  |  | 11,640,869 |  |  |  |  |  |  |
SCHEDULE OF DSU GRANTED | The following is a continuity of the DSUs: SCHEDULE OF DSU GRANTED
|  | Number Outstanding |  |  | Market Price (1) ($) |  |  | Fair Value ($) |
DSUs outstanding at December 31, 2022 |  |  | 200,000 |  |  |  | 1.49 |  |  |  | 298,000 |
Granted |  |  | 600,951 |  |  |  | 1.33 |  |  |  | 798,122 |
Redeemed |  |  | (69,976 | ) |  |  | 1.19 |  |  |  | (83,527 | )
Fair value adjustment |  |  | - |  |  |  |  |  |  |  | (128,114 | )
DSUs outstanding at December 31, 2023 |  |  | 730,975 |  |  |  | 1.21 |  |  |  | 884,481 |
Granted |  |  | 1,116,269 |  |  |  | 0.79 |  |  |  | 882,410 |
Fair value adjustment |  |  | - |  |  |  |  |  |  |  | (473,820 | )
DSUs outstanding at September 30, 2024 |  |  | 1,847,244 |  |  |  | 0.70 |  |  |  | 1,293,071 |
Note:
(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 or redemption date.
Transferable Warrants [Member] |
Class of Warrant or Right [Line Items] |
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 | %
Share 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 |
Monte-Carlo Model [Member] |
Class of Warrant or Right [Line Items] |
SCHEDULE OF FAIR VALUE OF WARRANTS IN CONNECTION WITH FINANCING TRANSACTIONS | SCHEDULE OF FAIR VALUE OF WARRANTS
|  | June 14, 2024 |  |  | June 21, 2024 |
Expected dividend yield |  |  | 0 | % |  |  | 0 | %
Share 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 |

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- 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
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- 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
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- 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
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