Warrants (Tables)

3 Months Ended

Mar. 31, 2022

Warrants

Summary of Changes in Warrants

A continuity of the Company’s outstanding share purchase warrants for the three months ended March 31, 2022 and the year ended December 31, 2021 is presented below:

	Number of warrants			Weighted average exercise price
Outstanding, December 31, 2020		35,865,312			0.10
Issued		14,017,663			0.10
Exercised		(31,270,314	)		0.09
Expired		(10,768,332	)		0.13
Outstanding, December 31, 2021		7,844,329		$	0.10
Issued		62,790,299			0.35
Exercised		(146,250	)		0.08
Outstanding, March 31, 2022		70,488,378		$	0.32

Schedule of Purchase Warrants Outstanding

At March 31, 2022, the Company had the following outstanding share purchase warrants:

Outstanding		Exercise Price	Expiry Date
	1,000,000	0.16 USD	March 8, 2023
	50,000	0.32 USD	June 6, 2023
	2,429,999	0.08 USD	September 8, 2023
	1,200,000	0.10 USD	September 8, 2023
	2,358,080	0.08 USD	September 8, 2023
	660,000	0.10 USD	September 30, 2023
	21,705,438	0.35 USD	March 15, 2024
	3,393,939	0.35 USD	March 16, 2024
	2,954,545	0.35 USD	March 17, 2024
	10,614,123	0.35 USD	March 18, 2024
	21,469,254	0.35 USD	March 24, 2024
	2,653,000	0.35 USD	March 28, 2024
	70,488,378

Schedule of Warrant Derivative Liability

The following is a continuity of the Company’s derivative warrant liability:

	Total
Balance, January 1 and December 31, 2020	$	1,804,572
Issued during the period		621,500
Extinguished during the period		(479,535	)
Change in fair value of derivative		(1,473,638	)
Balance, December 31, 2021	$	472,899
Effect of change in functional currency		(309,737	)
Change in fair value of derivative		568,773
Foreign exchange difference		9,804
Balance, March 31, 2022	$	741,739

Schedule of Weighted Average Assumption for Warrants

	2022
Risk-free interest rate		1.21 – 1.30%
Expected life (years)		2
Expected volatility		154	%
Dividend yield		0	%
Share price	$	0.24 - $.031 CAD