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Share Capital (Tables)
9 Months Ended
Sep. 30, 2021
Disclosure of Share Capital [Line Items]  
Schedule of Common Stock Outstanding Roll Forward

A reconciliation of the beginning and ending amounts of the issued and outstanding shares by class is as follows:

 

 

 

Issued and Outstanding

 

 

 

Subordinate
Voting
Shares

 

 

 Multiple
Voting
Shares

 

 

Super
Voting
Shares

 

As at December 31, 2020

 

 

178,113,221

 

 

 

40,289

 

 

 

312,031

 

Issuance of common shares pursuant to S-1

 

 

4,693,991

 

 

 

 

 

 

 

Issuance of shares under business combinations and
   investments

 

 

7,290,180

 

 

 

 

 

 

 

Distribution of contingent consideration

 

 

612,737

 

 

 

 

 

 

 

Distribution of deferred shares

 

 

190,263

 

 

 

 

 

 

 

Issuance of shares for redemption of noncontrolling interests

 

 

136,075

 

 

 

 

 

 

 

Issuance of shares upon exercise of options and
   warrants

 

 

977,646

 

 

 

 

 

 

 

Issuances of shares upon vesting of RSUs

 

 

357,756

 

 

 

 

 

 

 

Shares issued in association with notes payable

 

 

8,514

 

 

 

 

 

 

 

Shares issued for settlement of business dispute

 

 

240,000

 

 

 

 

 

 

 

Exchange of shares

 

 

1,763,500

 

 

 

(635

)

 

 

(17,000

)

As at September 30, 2021

 

 

194,383,883

 

 

 

39,654

 

 

 

295,031

 

 

 

10. SHARE CAPITAL (Continued)

Share-based Payment Arrangement, Option, Activity

Stock option activity is summarized as follows:

 

 

Number of Shares

 

Weighted Average Exercise Price C$

 

Weighted Avereage Remaining Contractual Life

 

Aggregate Intrinsic Value

 

Balance as at December 31, 2020

 

5,664,406

 

 

11.91

 

 

4.39

 

$

85,408,034

 

Granted

 

1,303,143

 

 

37.44

 

 

4.26

 

 

 

Exercised

 

(699,265

)

 

13.13

 

 

 

 

13,566,825

 

Forfeited

 

(642,623

)

 

14.43

 

 

 

 

 

Balance as at September 30, 2021

 

5,625,661

 

 

17.38

 

 

3.73

 

$

78,129,641

 

Vested

 

3,335,293

 

 

12.66

 

 

 

 

 

Exercisable at September 30, 2021

 

2,396,807

 

 

12.41

 

 

3.66

 

$

41,611,631

 

 

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The Company used the Black-Scholes option pricing model to estimate the fair value of the options granted during the nine months ended September 30, 2021 and the year ended December 31, 2020, using the following ranges of assumptions:

 

 

September 30,

December 31,

 

2021

2020

Risk-free interest rate

0.33% - 0.87%

0.31% - 1.37%

Expected dividend yield

0%

0%

Expected volatility

73%

80%

Expected option life

3 – 3.5 years

3 - 5 years

Schedule of Stock-Based Compensation Expense

The stock-based compensation expense for the three and nine months ended September 30, 2021 and 2020 was as follows:

 

 

 

 

 

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Stock options expense

$

3,483,587

 

 

$

2,614,273

 

 

$

9,821,525

 

 

$

8,209,557

 

Restricted Stock Units

 

1,511,255

 

 

 

1,821,361

 

 

 

4,876,655

 

 

 

6,999,963

 

Total Stock Based Compensation Expense

$

4,994,842

 

 

$

4,435,634

 

 

$

14,698,180

 

 

$

15,209,520

 

Summary Of Weighted Average Grant Date Fair Value And Intrinsic Value Of Options Exercised

The following table summarizes the weighted average grant date fair value and intrinsic value of options exercised for the nine months ended September 30, 2021 and 2020:

 

 

Nine Months Ended September 30,

 

 

2021

 

2020

 

Weighted average grant date fair value (per share) of stock option units granted (C$)

 

14.89

 

 

4.46

 

Intrinsic value of stock option units exercised, using market price at vest date (US$)

$

13,566,825

 

$

194,247

 

Restricted Stock Units  
Disclosure of Share Capital [Line Items]  
Non-vested Restricted Stock Shares Activity

The following table summarizes the number of non-vested RSU awards as of September 30, 2021 and December 31, 2020 and the changes during the nine months ended September 30, 2021:

 

 

Number of Shares

 

Weighted Average Grant Date Fair Value (C$)

 

Nonvested Shares at December 31, 2020

 

689,340

 

 

16.77

 

Granted

 

127,137

 

 

38.21

 

Forfeited

 

(105,785

)

 

16.37

 

Vested

 

(357,756

)

 

21.56

 

Nonvested Shares at September 30, 2021

 

352,936

 

 

19.57

 

Summary Of Weighted Average Grant Date Fair Value And Intrinsic Value Of Options Exercised

The following table summarizes the weighted average grant date fair value of RSUs granted and total fair value of RSUs vested for the nine months ended September 30, 2021 and 2020:

 

 

Nine Months Ended September 30,

 

 

2021

 

2020

 

Weighted average grant date fair value (per share)
of RSUs granted (C$)

 

38.21

 

 

12.65

 

Intrinsic value of RSUs vested, using market
   price at vest date (US$)

$

10,813,387

 

$

8,955,783