Note 8 - Warrants

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Class of Warrant or Right [Text Block]

8. WARRANTS  

The changes in warrants are as follows:

	Number of warrants		Weighted average exercise price (CAD)		Aggregate Intrinsic Value
Warrants outstanding, December 31, 2020		12,500,000	$	0.001	$	-
Granted		4,900,000		1.00		-
Warrants outstanding, December 31, 2022 and 2021		17,400,000	$	0.28	$	-

Details of warrants outstanding as at December 31, 2022 are as follows:

Exercise price			Number of warrants outstanding		Expiry date	Number of warrants exercisable		Remaining contractual life (years)
$	1.00	(CAD)		4,900,000	April 19, 2023		4,900,000		0.30
$	0.001	(1) (USA)		12,500,000	June 4, 2025		-		2.43
				17,400,000			4,900,000

(1) No share purchase warrants are exercisable until specific performance criteria have been met. Such criteria being 1) targeted revenue sales projections met, or 2) listing on a major US exchange, or 3) change of control.