Schedule of stock option granted |
A summary of the options granted under the Stock Option Plan as of September 30, 2022 and December 31, 2021 is presented below: | | | | | | | | | | | | | | | | | | | | Nine Months Ended | | | Year Ended | | | September 30, 2022 | | | December 31, 2021 | | | | | Weighted | | | | | | | | Weighted | | | | | | | | Average | | Aggregate | | | | | Average | | Aggregate | | | Number of | | Exercise Price | | Intrinsic Value | | | Number of | | Exercise Price | | Intrinsic Value | | | Options | | (C$) | | (C$) | | | Options | | (C$) | | (C$) | | | | | | | | | | | | | | | | | | | Balance, beginning of the period | | 2,947,049 | | $ | 0.97 | | | | | | 2,707,049 | | $ | 0.94 | | | | Granted | | 240,000 | | | 0.92 | | | | | | 240,000 | | | 1.31 | | | | Exercised | | (405,000) | | | 0.90 | | | | | | — | | | — | | | | Cancelled | | (495,000) | | | 1.08 | | | | | | — | | | — | | | | Balance, end of the period | | 2,287,049 | | $ | 0.95 | | $ | 64,782 | | | 2,947,049 | | $ | 0.97 | | $ | 235,200 |
|
Schedule of stock options outstanding |
Stock options outstanding as at September 30, 2022 and December 31, 2021 are as follows: | | | | | | | | | | | | | | | | | | September 30, 2022 | | | December 31, 2021 | | | Exercise | | Number of | | | | | Exercise | | Number of | | | Expiry Date | | Price (C$) | | Options | | Exercisable | | | Price (C$) | | Options | | Exercisable | March 25, 2022* | | | — | | — | | — | | | $ | 1.11 | | 510,000 | | 510,000 | March 25, 2022* | | | — | | — | | — | | | $ | 0.73 | | 270,000 | | 270,000 | March 25, 2022* | | | — | | — | | — | | | $ | 1.11 | | 120,000 | | 120,000 | March 16, 2023 | | $ | 1.00 | | 580,000 | | 580,000 | | | $ | 1.00 | | 580,000 | | 580,000 | March 16, 2023 | | $ | 0.50 | | 130,000 | | 130,000 | | | $ | 0.50 | | 130,000 | | 130,000 | June 9, 2023 | | $ | 1.00 | | 30,000 | | 30,000 | | | $ | 1.00 | | 30,000 | | 30,000 | March 21, 2024 | | $ | 0.61 | | 374,817 | | 374,817 | | | $ | 0.61 | | 374,817 | | 374,817 | February 1, 2025 | | $ | 1.35 | | 250,000 | | 250,000 | | | $ | 1.35 | | 250,000 | | 250,000 | August 8, 2025 | | $ | 0.85 | | 187,232 | | 187,232 | | | $ | 0.85 | | 187,232 | | 187,232 | May 27, 2026 | | $ | 0.92 | | 255,000 | | 255,000 | | | $ | 0.92 | | 255,000 | | 170,000 | May 25, 2027 | | $ | 1.31 | | 240,000 | | 160,000 | | | $ | 1.31 | | 240,000 | | 80,000 | May 24, 2028 | | $ | 0.92 | | 240,000 | | 80,000 | | | | — | | — | | — | | | | | | 2,287,049 | | 2,047,049 | | | | | | 2,947,049 | | 2,702,049 |
* Expiry date automatically extended to March 25, 2022, the tenth business day following the end of a blackout period imposed on the holders of the stock options, pursuant to the terms of the Stock Option Plan.
|
Schedule of non-vested share activity |
A summary of the non-vested options as of September 30, 2022 and changes during the nine months ended September 30, 2022 is as follows: | | | | | | | | | | Weighted average | | | Number of | | grant-date fair value | Non-vested options: | | options | | (C$) | Outstanding at December 31, 2021 | | 245,000 | | $ | 0.91 | Granted | | 240,000 | | | 0.60 | Vested | | (245,000) | | | 0.78 | Outstanding at September 30, 2022 | | 240,000 | | $ | 0.73 |
|
Schedule of deferred share units outstanding |
DSUs outstanding as at September 30, 2022 and December 31, 2021 are as follows: | | | | | | | | | | | | | | Nine Months Ended | | | Year Ended | | | September 30, 2022 | | | December 31, 2021 | | | | | Weighted Average | | | | | Weighted | | | Number of | | Exercise Price | | | Number of | | Average Exercise | | | Units | | (C$) | | | Units | | Price (C$) | Balance, beginning of the period | | 2,151,276 | | $ | 0.88 | | | 1,834,481 | | $ | 0.81 | Issued | | 451,085 | | $ | 0.92 | | | 316,795 | | $ | 1.31 | Balance, end of the period | | 2,602,361 | | $ | 0.89 | | | 2,151,276 | | $ | 0.88 |
|