Annual report [Section 13 and 15(d), not S-K Item 405]

Shareholders' Equity and Capital Stock (Tables)

v3.25.1
Shareholders' Equity and Capital Stock (Tables)
12 Months Ended
Dec. 31, 2024
Shareholders Equity and Capital Stock  
Schedule Of Activity with respect to stock options

​

​

​

​

​

​

​

​

Outstanding

​

Weighted-average

​

​

Options

​

Exercise Price

Stock Option Activity

​

#

​

$

​

​

​

​

​

December 31, 2022

 

8,574,904

​

0.66

​

​

​

​

​

Granted

 

2,607,657

​

1.32

Exercised

 

(2,225,098)

​

0.64

Forfeited

​

(39,999)

​

1.13

Expired

 

(17,129)

​

0.68

​

​

​

​

​

December 31, 2023

 

8,900,335

​

0.87

​

​

​

​

​

Granted

 

2,416,502

​

1.36

Exercised

 

(2,351,563)

​

0.58

Forfeited

 

(370,782)

​

1.30

​

​

​

​

​

December 31, 2024

 

8,594,492

​

1.00

Schedule of outstanding stock options

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Options Outstanding

​

Options Exercisable

​

​

Weighted-

​

​

​

Weighted-

​

​

​

​

​

Weighted-

​

​

​

​

average

​

​

​

average

​

Aggregate

​

​

​

average

​

Aggregate

​

​

exercise

​

Number

​

remaining

​

intrinsic

​

Number

​

remaining

​

intrinsic

​

​

Price

​

of options

​

contractual

​

value

​

of options

​

contractual

​

value

​

​

$

​

#

​

life (years)

​

$

​

#

​

life (years)

​

$

​

Expiry

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

1.08

​

3,942

    

0.1

    

287

​

3,942

    

0.1

    

287

​

2025-01-23

0.44

​

2,512,347

 

0.9

​

1,789,326

​

2,512,347

 

0.9

​

1,789,326

​

2025-11-13

1.00

​

1,244,100

 

1.7

​

185,799

​

1,244,100

 

1.7

​

185,799

​

2026-08-27

1.55

​

175,000

 

2.2

​

-

​

116,666

 

2.2

​

—

​

2027-03-14

1.08

​

1,188,962

 

3.0

​

86,681

​

430,964

 

3.0

​

31,419

​

2028-01-04

1.43

​

1,053,639

 

3.9

​

-

​

351,213

 

3.9

​

—

​

2028-12-07

1.71

​

500,000

 

4.4

​

-

​

-

 

—

​

—

​

2029-05-08

1.23

​

1,916,502

​

4.9

​

-

​

-

​

—

​

—

​

2029-12-12

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

1.00

​

8,594,492

 

2.8

​

2,062,093

​

4,659,232

 

1.5

​

2,006,831

​

  

Summary of liability-classified option activity

​

​

​

Balance at December 31, 2023

-

Reclassification of liability from equity

2,523

Stock compensation expense as adjusted

172

Options exercised

(859)

Options forfeited

(8)

Increase in liability due to fair value recalculations after initial reclassification

(70)

Balance at December 31, 2024

1,758

Schedule Of Restricted Share Unit Activity

​

​

​

​

​

​

​

    

​

    

Weighted-average

​

​

Outstanding

​

grant date

​

​

RSUs

​

fair value

Restricted Share Unit Activity

​

#

​

$

​

​

​

​

​

December 31, 2022

 

305,530

​

1.14

​

​

​

​

​

Granted

​

651,912

​

1.32

Released

 

(312,575)

​

1.14

Forfeited

​

(2,957)

​

1.15

​

​

​

​

​

December 31, 2023

 

641,910

​

1.33

​

​

​

​

​

Granted

 

479,141

​

1.25

Released

 

(39,233)

​

1.30

Forfeited

 

(12,173)

​

1.43

​

​

​

​

​

December 31, 2024

 

1,069,645

​

1.29

Schedule Of Schedule Of Restricted Share Unit Outstanding

​

​

​

​

​

​

​

​

RSUs Outstanding

​

​

Weighted-

​

​

​

​

​

​

Average

​

Aggregate

​

​

Number

​

Remaining

​

Fair

​

​

of RSUs

​

contractual

​

Value

​

Vesting

#

​

life (years)

​

$

​

Date

​

​

​

​

​

​

​

307,067

    

0.1

    

353,127

    

2025-01-04

283,437

​

0.9

​

325,953

​

2025-12-07

479,141

 

1.9

 

551,012

 

2026-12-12

1,069,645

 

1.1

 

1,230,092

 

  

Schedule Of warrant activity

​

​

​

​

​

​

​

​

​

    

​

    

Number of

    

Weighted-

​

​

​

​

shares to

​

Average

​

​

Outstanding

​

be issued

​

exercise price

​

​

Warrants

​

upon exercise

​

per common share

Warrant Activity

​

#

​

#

​

$

​

​

​

​

​

​

​

December 31, 2022

 

16,730,530

 

8,365,265

 

1.35

​

​

​

​

​

​

​

Issued

​

39,100,000

 

19,550,000

 

1.50

Exercised

 

(413,030)

 

(206,515)

 

1.35

​

​

​

​

​

​

​

December 31, 2023

 

55,417,500

 

27,708,750

 

1.46

​

​

​

​

​

​

​

Exercised

​

(16,376,500)

​

(8,188,250)

​

1.35

​

​

​

​

​

​

​

December 31, 2024

 

39,041,000

 

19,520,500

 

1.50

Schedule Of outstanding warrants

​

​

​

​

​

​

​

​

​

​

​

    

​

    

​

    

​

    

​

​

​

​

​

Weighted-

​

​

​

​

​

​

​

​

average

​

Aggregate

​

​

Exercise

​

Number

​

remaining

​

intrinsic

​

​

price

​

of warrants

​

contractual

​

value

​

​

$

​

#

​

life (years)

​

$

​

Expiry

​

​

​

​

​

​

​

​

​

1.50

 

39,041,000

 

1.1

 

—

 

2026-02-21

1.50

 

39,041,000

 

1.1

 

—

 

  

Schedule Of fair value of the warrants

​

​

​

​

​

Warrant Fair Value Assumptions

    

2023

​

​

​

​

​

Expected forfeiture rate

 

0.0%

​

Expected life (years)

 

3.0

​

Expected volatility

 

77.4%

​

Risk free rate

 

3.9%

​

Expected dividend rate

 

0.0%

​

Black-Scholes value (CAD$)

​

$0.63

​

Employee Stock Option  
Shareholders Equity and Capital Stock  
Schedule of fair value assumptions

​

​

​

​

​

​

​

​

​

​

Stock Options Fair Value Assumptions

    

2024

​

2023

​

​

​

​

​

​

​

​

​

Expected forfeiture rate

 

​

5.0% - 5.3%

​

​

​

5.1% - 5.3%

​

Expected life (years)

 

​

4.0 - 4.1

​

​

​

4.0

​

Expected volatility

 

​

67.1% - 65.5%

​

​

​

71.7% - 74.7%

​

Risk free rate

 

​

3.8% - 2.9%

​

​

​

3.5% - 3.6%

​

Expected dividend rate

 

​

0.0%

​

​

​

0.0%

​

Weighted average exercise price (CAD$)

​

​

$1.77 - $2.46

​

​

​

$1.55 - $2.06

​

Black-Scholes value (CAD$)

​

​

$0.92 - $1.33

​

​

​

0.89 - $1.16

​

Liability-classified stock options  
Shareholders Equity and Capital Stock  
Schedule of fair value assumptions

​

​

​

​

​

​

​

​

​

    

​

    

​

​

    

​

​

As at

​

​

As at

​

Black-Scholes assumptions as at

​

December 31, 2024

​

​

July 29, 2024

​

​

​

​

​

​

​

​

Expected forfeiture rate

 

—

 

​

—

 

Expected life (years)

 

0.9 - 4.9

 

​

0.3 - 4.8

 

Expected volatility rate

 

46.9 - 67.4

%

​

47.7 - 68.2

%

Risk free rate

​

2.85 - 2.94

%

​

3.2 - 3.5

%

Expected dividend rate

​

—

%

​

—

%

Exercise price

$

0.63 - 2.46

​

$

0.63 - 2.46

​

Market price

$

1.64

 

$

1.80

 

Restricted Stock Units (RSUs)  
Shareholders Equity and Capital Stock  
Schedule of fair value assumptions

​

​

​

​

​

​

Restricted Share Unit Fair Value Assumptions

    

2024

 

2023

​

​

​

​

​

Expected forfeiture rate

 

3.6%

​

3.6% - 3.8%

Grant date fair value (CAD$)

 

$1.77

​

$1.55 - $2.06