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SHARE CAPITAL, WARRANTS AND OPTIONS (Tables)

9 Months Ended

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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