Equity (Tables)

12 Months Ended

Dec. 31, 2020

A summary of the status of the stock options and changes in the period is as follows:

	Options Outstanding (000s)			Weighted Average Grant Date Fair Value $		Weighted Average Exercise Price $		Options Exercisable (000s)		Weighted Average Exercise Price $
As at December 31, 2018		3,108					3.88		1,965		3.80
Options granted		817			1.86		4.06
Replacement awards (Note 23)		536			1.69		2.64
Exercised		(356	)				2.16
Forfeited		(408	)				5.11
As at December 31, 2019		3,697					4.05		2,833		4.12
Options granted		1,988			1.45		2.47
Exercised		(276	)				1.59
Forfeited		(432	)				2.86
As at December 31, 2020		4,977					3.07		2,965		3.47

The fair value of each option granted was estimated using the Black-Scholes option pricing model with the following assumptions:

	For the year ended December 31, 2020		For the year ended December 31, 2019
Risk-free interest rate	0.32% - 0.39%		1.17% - 1.83%
Expected life	5 years		5 years
Expected volatility in market price of shares	72% - 77%			50%
Expected dividend yield		0%		0%
Expected forfeiture rate		15%		15%

Details of outstanding RSUs as at December 31, 2020 are as follows:

The fair value of the warrants outstanding was estimated using the Black-Scholes option pricing model with the following assumptions:

	For the year ended December 31, 2020			For the year ended December 31, 2019
Risk-free interest rate	0.32% - 0.39%			0.64%-2.05%
Expected life	3.5 -7 years			5-7 years
Expected volatility in market price of shares	50% - 77%			50%-55%
Expected dividend yield		0	%		0	%
Expected forfeiture rate		0	%		0	%

(d)

Warrants

	Warrants Outstanding (000s)			Weighted Average Exercise Price $		Warrants Exercisable (000s)		Weighted Average Exercise Price $
As at December 31, 2018		1,779			2.66		982		2.42
Warrants exercised		(583	)		2.05		—		—
As at December 31, 2019		1,196			2.96		598		2.96
Warrants granted		4,829			1.98		—		—
Warrants exercised		(990	)		2.03		—		—
As at December 31, 2020		5,035			1.80		4,386		1.88