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Warrants (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2021
Dec. 31, 2020
Warrants and Rights Note Disclosure [Abstract]    
Schedule of Warrants Exercise Price
Exercise price     Number outstanding     Remaining Contractual Life (Years)     Expiry date
$ 0.20       225,000       0.67     December 1, 2021
$ 0.20       25,349,050       0.80     February 24, 2022
$ 2.00       250,000       1.33     April 29, 2022
$ 0.10       109,757       3.91     February 25, 2025
$ 0.12       1,250,000       3.97     March 20, 2025
$ 0.20       30,499,800       1.50     October 1, 2022
          57,683,607       2.03      
Exercise price     Number outstanding     Remaining Contractual Life (Years)     Expiry date
$ 0.20       225,000       0.92     December 1, 2021
$ 0.20       9,961,301       0.98     December 22, 2021
$ 2.00       100,000       1.33     April 29, 2022
$ 0.10       900,000       4.16     February 25, 2025
$ 0.12       1,250,000       4.22     March 20, 2025
          12,436,301       2.32    
Schedule of Warrants Activity

 

    March 31, 2021     December 31, 2020  
    Number of warrants     Weighted average price     Number of warrants     Weighted average price  
Balance, beginning of year     12,436,301     $ 0.20       -     $ -  
Issuance     60,697,999     $ 0.21       12,436,301     $ 0.20  
Exercise     (15,450,693 )   $ (0.19 )     -     $ -  
Balance, end of period     57,683,607     $ 0.22       12,436,301     $ 0.20  
    December 31, 2020     December 31, 2019  
    Number of warrants     Weighted average price     Number of warrants     Weighted average price  
Balance, beginning of year   -     $ -              -     $       -  
Issuance     12,436,301     $ 0.52           -     $ -  
Balance, end of period     12,436,301     $ 0.52       -     $ -
Schedule of Black-scholes Pricing Model Using Assumption for Warrants  

The fair value of the warrants was calculated using the Black-Scholes pricing model and using the following assumptions:

 

Discount rate     1.16 %
Expected volatility     255 %
Expected life (years)     5  
Exercise price   $ 0.10  
Stock price   $ 0.27  

 

The fair value of the 1,250,000 warrants was calculated using the Black-Scholes pricing model and using the following assumptions:

 

Discount rate     0.025 %
Expected volatility     249 %
Expected life (years)     5  
Exercise price   $ 0.12  
Stock price   $ 0.06  

 

The fair value of the 100,000 warrants was calculated using the Black-Scholes pricing model and using the following assumptions:

 

Discount rate     2.27 %
Expected volatility     297 %
Expected life (years)     3  
Exercise price   $ 2  
Stock price   $ 0.13  

 

The fair value of the 225,000 warrants was calculated using the Black-Scholes pricing model and using the following assumptions:

 

Discount rate     0.12 %
Expected volatility     244 %
Expected life (years)     1  
Exercise price   $ 0.20  
Stock price   $ 0.17  

 

The fair value of the 9,961,301 warrants was calculated using the Black-Scholes pricing model and using the following assumptions:

 

Discount rate     0.09 %
Expected volatility     239 %
Expected life (years)     1  
Exercise price   $ 0.20  
Stock price   $ 0.13