Convertible debentures (Tables)

6 Months Ended

Jun. 30, 2023

Convertible Debentures

Schedule of Fair Value Assumptions of Conversion Features

The relative fair value of the warrants and conversion features were determined using the Black-Scholes Option Pricing Model using the assumptions set out as follows:

	April 20, 2023
Risk-free interest rate		3.86	%
Expected volatility		101.71 – 119.94	%
Dividend yield		0	%
Expected life		2.03 - 2.19 years

Schedule of Convertible Debt

A continuity schedule of the Company’s convertible debt is as follows:

Balance as at January 1, 2023	$	-
Issued		11,322,635
Transaction costs		(992,525	)
Transaction costs allocated to equity		77,086
Relative fair value of conversion feature		(369,181	)
Relative fair value of Warrants		(495,653	)
Accretion		157,228
Interest		258,797
Impact of foreign currency adjustment		(21,132	)
Balance as at June 30, 2023	$	9,937,255
Current	$	-
Long-term	$	9,937,255