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Warrants | Note 6. Warrants
Warrant transactions are summarized as follows:
The following warrants were outstanding and exercisable as at December 31, 2022:
In March, 2022 the Company issued 4,300,000 warrants as part of private placement transactions. On April 4, 2022 and May 12, 2022 the Company issued 1,000,000 and 2,000,000 warrants, respectively, as part of private placement transactions. On December 13, 2022, the Company cancelled warrants issued July 15, 2019 with an exercise price of $0.26 in consideration for patent assignments, and expiring July 14, 2024. The Company reissued the 6,000,000 warrants with an exercise price of $0.028 and expiring December 12, 2028.
Total share-based compensation for the reissued warrants during the year ended December 31, 2022, was $115,537.
The fair values of the reissued warrants were estimated using the Black-Scholes Option Pricing Model, based on the following weighted average assumptions:
The weighted-average fair value of the warrants granted during the year ended December 31, 2022 was $ (December 31, 2021 - $nil)
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