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Share-based payments reserve
 3 Months Ended
Nov. 30, 2023
Notes and other explanatory information [abstract]  
Share-based payments reserve

 

12.Share-based payments reserve

 

Share-based compensation expense for the three months ended November 30, 2023 totalled $0.9 million (2022: $0.8 million).

 

As at November 30, 2023, the Company had 5,225,271 (August 31, 2023 – 3,617,450) share awards available for issuance under the Omnibus Equity Incentive Plan.

 

a)Stock options

 

Canadian Dollars denominated stock options

 

              
     Number of stock options      Weighted average exercise price per share  
Balance – November 30, 2023 and August 31, 2023    4,986,000    CAD $0.41 

 

Options to purchase common shares carry exercise prices and terms to maturity as follows:

 

             
           Remaining  
     Number of options      Expiry      contractual  
  Exercise price      Outstanding      Exercisable      Date      life (years)  
 C$0.40    2,259,000    2,259,000    October 11, 2026    2.9 
 C$0.40    95,000    95,000    October 6, 2024    0.9 
 C$0.43    2,065,000    2,065,000    September 29, 2026    2.8 
 C$0.43    467,000    467,000    October 6, 2024    0.9 
 C$0.35    100,000    100,000    January 2, 2027    3.1 
    C$0.41(1)    4,986,000    4,986,000             2.6 (1) 

(1)  Total represents weighted average.

 

US Dollars denominated stock options

 

              
     Number of stock options      Weighted average exercise price per share  
Balance – November 30, 2023 and August 31, 2023    10,450,000   $0.49 

 

Options to purchase common shares carry exercise prices and terms to maturity as follows:

 

                 
           Remaining  
   Number of options    Expiry      contractual  
  Exercise price      Outstanding      Exercisable      Date      life (years)  
 USD $0.50    7,375,000    2,950,000    August 17, 2027     3.7  
 USD $0.45    3,075,000    615,000    August 28, 2028    4.8 
 USD $0.49(1)    10,450,000    3,565,000        4.0(1) 

 

 

For the three months ended November 30, 2023, share-based compensation expense related to stock options totalled $0.2 million (2022 – $0.1 million).

 

b)Restricted Share Units:

  

The following table sets out activity with respect to outstanding RSUs:

 

       
     Number of RSUs  
Balance – August 31, 2023    3,473,077 
Vested    (700,000)
Balance – November 30, 2023    2,773,077 

 

For the three months ended November 30, 2023, share-based payment expenses related to RSUs totalled $0.5 million (2022 - $0.2 million).