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Share-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity The following table summarizes the Company’s stock option activity and related information:
Number of OptionsWeighted Average Price CAD$Weighted Average Years
Balance, December 31, 202275,626,960 $0.86 3.46
Granted50,158,000 $0.20 3.16
Forfeited/Expired(51,481,360)$0.83 — 
Balance, June 30, 202374,303,600 $0.38 4.01
Summary of Stock Options Values using Black-Scholes Model with Key Assumptions In determining the amount of share-based compensation during the periods ended June 30, 2023 and 2022, the Company used the Black-Scholes option pricing model to establish the fair value of options granted with the following key assumptions:
Six Months Ended June 30,
20232022
Risk-Free Interest Rate4.05 %2.42 %
Expected Life3.17 years5.00 years
Expected Annualized Volatility85.32 %71.30 %
Forfeiture rate— %— %
Expected Dividend Yield— %— %