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SHARE BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2023
SHARE BASED COMPENSATION  
Summary of equity incentive plans

    

DSU

    

RSU

    

FSO

Weighted

Outstanding

Outstanding

Outstanding

Average

DSU Units

RSU Units

FSO Options

Exercise

(Number of

(Number of

(Number

Price / Share

    

of shares)

    

of shares)

    

of shares)

    

CAD

Balance as at January 1, 2022

246,945

235,000

1,816,302

8.95

Granted

125,000

503,000

483,797

7.70

Exercised

(97,045)

(8,000)

2.30

Forfeited / Cancelled

(173,704)

14.56

Balance as at December 31, 2022

274,900

738,000

2,118,395

8.23

Balance as at January 1, 2023

274,900

738,000

2,118,395

8.23

Granted

24,000

234,375

108,477

7.54

Exercised

(38,334)

(365,043)

(124,000)

4.96

Expired

(120,000)

5.05

Forfeited / Cancelled

(35,412)

(109,332)

(205,434)

10.00

Balance as at December 31, 2023

225,154

498,000

1,777,438

8.43

Summary of outstanding share options

The following table summarizes information about the outstanding share options as at December 31, 2023:

Outstanding

Exercisable

Weighted

Weighted

Weighted

Average

Average

Average

Options

Remaining

Exercise

Options

Exercise

Range of exercise

(Number

Contractual

Price / Share

(Number

Price / Share

prices (CAD)

    

of shares)

    

Life (Years)

    

CAD

    

of shares)

    

CAD

2.30 - 5.00

198,200

1

3.23

198,200

3.23

5.01 - 8.62

1,118,018

4

7.76

938,491

7.90

8.63 - 33.30

461,220

7

12.28

374,842

12.39

1,777,438

4

8.43

1,511,533

8.40

10

SHARE BASED COMPENSATION (CONTINUED)

The following table summarizes information about the outstanding share options as at December 31, 2022:

Outstanding

Exercisable

Weighted

Weighted

Weighted

Average

Average

Average

Options

Remaining

Exercise

Options

Exercise

Range of exercise

(Number

Contractual

Price / Share

(Number

Price / Share

prices (CAD)

    

of shares)

    

Life (Years)

    

CAD

    

of shares)

    

CAD

2.30 - 5.00

246,450

2

3.05

233,218

3.05

5.01 - 5.60

200,000

1

5.60

200,000

5.60

5.61 - 8.62

1,116,655

5

7.76

792,677

7.92

8.63 - 33.30

555,290

7

12.43

264,748

12.63

2,118,395

5

8.23

1,490,643

7.68

Summary of inputs and assumptions used for measuring fair value

    

2023

    

2022

Expected dividend yield (%)

 

0.00

 

0.00

Expected share price volatility (%)

 

64.3 - 64.5

 

64.1 - 64.7

Risk-free interest rate (%)

 

2.9 - 4.4

 

2.2 - 3.7

Expected life of options (years)

 

5.0

 

5.0

Share price (CAD)

 

7.55 - 7.56

 

5.60 - 8.18

Forfeiture rate (%)

 

0.00

 

0.00