Shareholders' Equity and Capital Stock (Tables)
|
9 Months Ended |
Sep. 30, 2025 |
|---|
| Shareholders' Equity and Capital Stock |
|
| Schedule Of activity with respect to stock options |
|
|
|
|
|
|
|
Outstanding |
|
Weighted-average |
|
|
Options |
|
Exercise Price |
Stock Option Activity |
|
# |
|
$ |
|
|
|
|
|
December 31, 2024 |
|
8,594,492 |
|
1.00 |
|
|
|
|
|
Granted |
|
295,000 |
|
1.36 |
Exercised |
|
(1,260,561) |
|
0.46 |
Forfeited |
|
(41,222) |
|
1.31 |
Expired |
|
(2,953) |
|
1.50 |
|
|
|
|
|
September 30, 2025 |
|
7,584,756 |
|
1.14 |
|
| Schedule of outstanding stock options |
As of September 30, 2025, outstanding stock options are as follows (expressed in U.S. dollars):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
0.45 |
|
1,271,589 |
|
0.1 |
|
1,700,633 |
|
1,271,589 |
|
0.1 |
|
1,700,633 |
|
2025-11-13 |
1.03 |
|
1,244,100 |
|
0.9 |
|
939,923 |
|
1,244,100 |
|
0.9 |
|
939,923 |
|
2026-08-27 |
1.60 |
|
175,000 |
|
1.5 |
|
32,894 |
|
175,000 |
|
1.5 |
|
32,894 |
|
2027-03-14 |
1.11 |
|
1,173,101 |
|
2.3 |
|
793,579 |
|
794,102 |
|
2.3 |
|
537,194 |
|
2028-01-04 |
1.48 |
|
1,044,780 |
|
3.2 |
|
323,982 |
|
348,260 |
|
3.2 |
|
107,994 |
|
2028-12-07 |
1.77 |
|
500,000 |
|
3.6 |
|
11,368 |
|
166,665 |
|
3.6 |
|
3,789 |
|
2029-05-08 |
1.27 |
|
1,881,186 |
|
4.2 |
|
1,217,610 |
|
— |
|
— |
|
— |
|
2029-12-12 |
1.24 |
|
175,000 |
|
4.9 |
|
313,250 |
|
— |
|
— |
|
— |
|
2030-08-07 |
1.50 |
|
120,000 |
|
5.0 |
|
214,800 |
|
— |
|
— |
|
— |
|
2030-09-19 |
1.14 |
|
7,584,756 |
|
2.5 |
|
5,548,039 |
|
3,999,716 |
|
1.3 |
|
3,322,427 |
|
|
|
| Summary of activity with respect to liability-classified stock options outstanding |
|
|
|
Liability-classified Stock Option Activity |
|
Total |
|
|
|
December 31, 2024 |
|
1,758 |
|
|
|
Stock compensation expense as adjusted |
|
588 |
Options exercised |
|
(816) |
Options forfeited |
|
(1) |
Foreign exchange adjustments |
|
28 |
Increase (decrease) in liability due to fair value recalculations |
|
1,179 |
|
|
|
September 30, 2025 |
|
2,736 |
|
| Schedule of fair value assumptions |
|
|
|
Black-Scholes assumptions |
|
September 30, 2025 |
|
|
|
Expected forfeiture rate |
|
—% |
Expected life (years) |
|
0.1- 5.0 |
Expected volatility rate |
|
57.3% - 69.9% |
Risk free rate |
|
2.5% - 2.7% |
Expected dividend rate |
|
—% |
Exercise price (CAD$) |
|
$0.63 - $2.46 |
Market price (CAD$) |
|
2.46 |
|
| Schedule of activity with respect to RSUs outstanding |
|
|
|
|
|
|
|
|
|
Weighted-average |
|
|
Outstanding |
|
grant date |
|
|
RSUs |
|
fair value |
Restricted Share Unit Activity |
|
# |
|
$ |
|
|
|
|
|
December 31, 2024 |
|
1,069,645 |
|
1.29 |
|
|
|
|
|
Redeemed |
|
(307,067) |
|
1.15 |
Forfeited |
|
(5,254) |
|
1.51 |
|
|
|
|
|
September 30, 2025 |
|
757,324 |
|
1.35 |
|
| Schedule Of Schedule Of Restricted Share Unit Outstanding |
As of September 30, 2025, outstanding RSUs were as follows (expressed in U.S. dollars):
|
|
|
|
|
|
|
RSUs Outstanding |
|
|
Weighted- |
|
|
|
|
|
|
Average |
|
Aggregate |
|
|
Number |
|
Remaining |
|
Fair |
|
|
of RSUs |
|
contractual |
|
Value |
|
Vesting |
# |
|
life (years) |
|
$ |
|
Date |
|
|
|
|
|
|
|
281,223 |
|
0.2 |
|
503,389 |
|
2025-12-07 |
476,101 |
|
1.2 |
|
852,221 |
|
2026-12-12 |
757,324 |
|
0.8 |
|
1,355,610 |
|
|
|
| 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, 2024 |
|
39,041,000 |
|
19,520,500 |
|
1.50 |
|
|
|
|
|
|
|
Exercised |
|
(515,000) |
|
(257,500) |
|
1.50 |
|
|
|
|
|
|
|
September 30, 2025 |
|
38,526,000 |
|
19,263,000 |
|
1.50 |
|
| Schedule Of outstanding warrants |
As of September 30, 2025, outstanding warrants were as follows (expressed in U.S. dollars):
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted- |
|
|
|
|
|
|
|
|
average |
|
Aggregate |
|
|
Exercise |
|
Number |
|
remaining |
|
intrinsic |
|
|
price |
|
of warrants |
|
contractual |
|
value |
|
|
$ |
|
# |
|
life (years) |
|
$ |
|
Expiry |
|
|
|
|
|
|
|
|
|
1.50 |
|
38,526,000 |
|
0.4 |
|
5,586,270 |
|
2026-02-21 |
1.50 |
|
38,526,000 |
|
0.4 |
|
5,586,270 |
|
|
|