Shareholders' Equity and Capital Stock (Tables)
|
12 Months Ended |
Dec. 31, 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, 2023 |
|
8,900,335 |
|
0.87 |
|
|
|
|
|
Granted |
|
2,416,502 |
|
1.36 |
Exercised |
|
(2,351,563) |
|
0.58 |
Forfeited |
|
(370,782) |
|
1.30 |
Expired |
|
— |
|
— |
|
|
|
|
|
December 31, 2024 |
|
8,594,492 |
|
1.00 |
|
|
|
|
|
Granted |
|
2,901,388 |
|
1.46 |
Exercised |
|
(2,568,097) |
|
0.46 |
Forfeited |
|
(41,222) |
|
1.31 |
Expired |
|
(2,953) |
|
1.50 |
|
|
|
|
|
December 31, 2025 |
|
8,883,608 |
|
1.31 |
|
| 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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1.05 |
|
1,223,247 |
|
0.7 |
|
414,612 |
|
1,223,247 |
|
0.7 |
|
414,612 |
|
2026-08-27 |
1.63 |
|
175,000 |
|
1.2 |
|
— |
|
175,000 |
|
1.2 |
|
— |
|
2027-03-14 |
1.13 |
|
1,173,101 |
|
2.0 |
|
303,428 |
|
794,102 |
|
2.0 |
|
205,398 |
|
2028-01-04 |
1.50 |
|
1,044,780 |
|
2.9 |
|
— |
|
696,520 |
|
2.9 |
|
— |
|
2028-12-07 |
1.80 |
|
500,000 |
|
3.4 |
|
— |
|
166,665 |
|
3.4 |
|
— |
|
2029-05-08 |
1.29 |
|
1,866,092 |
|
3.9 |
|
183,021 |
|
611,968 |
|
3.9 |
|
60,020 |
|
2029-12-12 |
1.26 |
|
175,000 |
|
4.6 |
|
23,550 |
|
— |
|
— |
|
— |
|
2030-08-07 |
1.53 |
|
120,000 |
|
4.7 |
|
— |
|
— |
|
— |
|
— |
|
2030-09-19 |
1.47 |
|
2,606,388 |
|
5.0 |
|
— |
|
— |
|
— |
|
— |
|
2030-12-22 |
1.35 |
|
8,883,608 |
|
3.4 |
|
924,611 |
|
3,667,502 |
|
2.1 |
|
680,030 |
|
|
|
| Schedule of fair value assumptions |
|
|
|
|
|
|
Grant issue date |
|
|
|
|
|
Stock Option Fair Value Assumptions |
|
2025 |
|
2024 |
|
|
|
|
|
|
|
Expected life (years) |
|
4.1 |
|
4.0 - 4.1 |
|
Expected volatility |
|
61.5% - 62.2% |
|
65.5% -67.1% |
|
Risk free rate |
|
2.6% - 2.8% |
|
2.9% - 3.8% |
|
Expected dividend rate |
|
0.0% |
|
0.0% |
|
Weighted average exercise price (CAD$) |
|
$1.72 - $2.09 |
|
$1.77 - $2.46 |
|
Black-Scholes value (CAD$) |
|
$0.86 - $1.04 |
|
$0.92 - $1.33 |
|
|
| Summary of fair values of the liability-classified options |
|
|
|
|
|
Black-Scholes assumptions |
|
December 31, 2025 |
|
December 31, 2024 |
|
|
|
|
|
Expected life (years) |
|
0.1 - 4.1 |
|
0.9 - 4.9 |
Expected volatility rate |
|
57.5% - 72.8% |
|
46.9% - 67.4% |
Risk free rate |
|
2.6% - 2.8% |
|
2.90% |
Expected dividend rate |
|
—% |
|
—% |
Exercise price (CAD$) |
|
$1.44 - $2.46 |
|
$1.00 |
Market price (CAD$) |
|
1.88 |
|
$1.64 |
|
| Summary of activity with respect to liability-classified stock options outstanding |
|
|
|
Liability-classified Stock Option Activity |
|
Total |
|
|
|
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 (decrease) in liability due to fair value recalculation after initial reclassification |
|
(70) |
|
|
|
December 31, 2024 |
|
1,758 |
|
|
|
Stock compensation expense as adjusted |
|
776 |
Options exercised |
|
(1,281) |
Options forfeited |
|
(1) |
Foreign exchange adjustments |
|
36 |
Increase (decrease) in liability due to fair value recalculations |
|
58 |
|
|
|
December 31, 2025 |
|
1,346 |
|
| Schedule of activity with respect to RSUs outstanding |
|
|
|
|
|
|
|
|
|
Weighted-average |
|
|
Outstanding |
|
grant date |
|
|
RSUs |
|
fair value |
Restricted Share Unit Activity |
|
# |
|
$ |
|
|
|
|
|
December 31, 2023 |
|
641,910 |
|
1.33 |
|
|
|
|
|
Granted |
|
479,141 |
|
1.25 |
Redeemed |
|
(39,233) |
|
1.30 |
Forfeited |
|
(12,173) |
|
1.43 |
|
|
|
|
|
December 31, 2024 |
|
1,069,645 |
|
1.29 |
|
|
|
|
|
Granted |
|
651,605 |
|
1.47 |
Redeemed |
|
(588,290) |
|
1.32 |
Forfeited |
|
(5,254) |
|
1.36 |
|
|
|
|
|
December 31, 2025 |
|
1,127,706 |
|
1.38 |
|
| Schedule Of Schedule Of Restricted Share Unit Outstanding |
|
|
|
|
|
|
|
RSUs Outstanding |
|
|
Weighted- |
|
|
|
|
|
|
Average |
|
Aggregate |
|
|
Number |
|
Remaining |
|
Fair |
|
|
of RSUs |
|
contractual |
|
Value |
|
Vesting |
# |
|
life (years) |
|
$ |
|
Date |
|
|
|
|
|
|
|
476,101 |
|
0.9 |
|
661,780 |
|
2026-12-12 |
651,605 |
|
2.0 |
|
905,731 |
|
2027-12-22 |
1,127,706 |
|
1.5 |
|
1,567,511 |
|
|
|
| Summary Of fair value of RSUs on grant dates |
|
|
|
|
|
Restricted Share Unit Fair Value Assumptions |
|
2025 |
|
2024 |
|
|
|
|
|
Grant date fair value (CAD$) |
|
$ 2.02 |
|
$1.77 |
|
| 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, 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 |
|
|
|
|
|
|
|
Exercised |
|
(767,500) |
|
(383,750) |
|
1.50 |
|
|
|
|
|
|
|
December 31, 2025 |
|
38,273,500 |
|
19,136,750 |
|
1.50 |
|
| Schedule Of outstanding warrants |
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted- |
|
|
|
|
|
|
|
|
average |
|
Aggregate |
|
|
Exercise |
|
Number |
|
remaining |
|
intrinsic |
|
|
price |
|
of warrants |
|
contractual |
|
value |
|
|
$ |
|
# |
|
life (years) |
|
$ |
|
Expiry |
|
|
|
|
|
|
|
|
|
1.50 |
|
38,273,500 |
|
0.1 |
|
— |
|
2026-02-21 |
1.50 |
|
38,273,500 |
|
0.1 |
|
— |
|
|
|