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Share Capital | 9 Months Ended
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Sep. 30, 2024
Equity [Abstract] |
Share Capital | Share Capital On April 17, 2023, the Company entered into a Securities Purchase Agreement (the “LDA Purchase Agreement”) as amended April 25, 2023, pursuant to which the Company issued to an investor, LDA Capital Limited (the “Investor”) a common share purchase warrant (the “LDA Warrant”) to purchase up to 455,927 common shares of the Company (the “LDA Warrant Shares”). The LDA Warrant is exercisable at an exercise price of $1.342 per share and expires three years from the date of issuance or earlier if the closing of a Fundamental Transaction occurs (defined as merger or consolidation, any sale of substantially all of the Company’s assets, any tender offer or exchange offer pursuant to which common shareholders can tender or exchange their shares for other securities, cash or property, as well as any reclassification of common shares into other securities, cash or property). The exercise price of the LDA Warrant is subject to adjustment for certain stock splits, stock combinations and dilutive share issuances. Pursuant to the terms of the LDA Purchase Agreement, the Company will reserve for issuance 200% of the maximum aggregate number of common shares as are issuable upon exercise in full of the LDA Warrant at any time. The LDA Warrant contains a contingent put option. In the event of a Fundamental Transaction, the Investor may, at the Investor’s option, require the Company to purchase the LDA Warrant for an amount of cash equal to the Black Scholes value of the remaining unexercised portion of the warrant on the date of consummation of such Fundamental Transaction. The Company has recorded the warrant as a liability and will adjust the warrant liability to fair value each reporting period until settled. Unlimited authorized shares of common shares at no par value are available to the Company. At September 30, 2024, the Company had the following outstanding warrants to purchase common shares:
Date issued |  | Contractual life (years) |  | Exercise price |  | Number outstanding |  | Expiration
July 2021 |  | 3 |  | $28.00 |  | 285,716 |  |  | December 22, 2024
September 2021 |  | 5 |  | $66.50 |  | 1,614,299 |  |  | September 8, 2026
October 2021 |  | 3 |  | $42.00 |  | 121,429 |  |  | October 1, 2024
February 2022 |  | 5 |  | $28.00 |  | 14,286 |  |  | February 7, 2027
February 2022 |  | 5 |  | $35.00 |  | 14,286 |  |  | February 7, 2027
February 2022 |  | 5 |  | $42.00 |  | 14,286 |  |  | February 7, 2027
April 2023 |  | 3 |  | $1.34 |  | 73,556 |  |  | April 17, 2026
August 2023 |  | 3 |  | $2.75 |  | 800,000 |  |  | August 11, 2026
August 2023 |  | 3 |  | $2.75 |  | 2,162,922 |  |  | August 23, 2026
|  |  |  |  |  | 5,100,780 |  |  |

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