| Summary of shares sold under share purchase agreement |
Between January 3, 2020 and February 13, 2020, the Company issued 4,408,048 common shares pursuant to the
Second Aspire Agreement as outlined in the following table:
|
Grant Date
|
|
Common shares issued
|
|
|
Value
|
|
|
January 3, 2020
|
|
|
500,000
|
|
|
$
|
219,600
|
|
|
January 6, 2020
|
|
|
500,000
|
|
|
|
229,300
|
|
|
January 8, 2020
|
|
|
400,000
|
|
|
|
195,160
|
|
|
January 10, 2020
|
|
|
500,000
|
|
|
|
247,550
|
|
|
January 17, 2020
|
|
|
600,000
|
|
|
|
303,000
|
|
|
January 23, 2020
|
|
|
600,000
|
|
|
|
295,320
|
|
|
February 6, 2020
|
|
|
600,000
|
|
|
|
282,000
|
|
|
February 13, 2020
|
|
|
708,048
|
|
|
|
300,000
|
|
| |
|
|
4,408,048
|
|
|
$
|
2,071,930
|
|
Subsequent to August 29, 2019 and subject to the First Aspire Agreement, the Company issued
Common Shares to Aspire as outlined in the following table:
|
Grant Date
|
|
Common shares issued
|
|
|
Value
|
|
|
August 30, 2019
|
|
|
2,417,162
|
|
|
$
|
3,000,000
|
|
|
November 8, 2019
|
|
|
100,000
|
|
|
|
42,560
|
|
|
November 8, 2019
|
|
|
100,000
|
|
|
|
42,560
|
|
|
November 12, 2019
|
|
|
100,000
|
|
|
|
42,970
|
|
|
November 12, 2019
|
|
|
100,000
|
|
|
|
42,000
|
|
|
November 13, 2019
|
|
|
100,000
|
|
|
|
42,970
|
|
|
November 14, 2019
|
|
|
300,000
|
|
|
|
128,910
|
|
|
November 15, 2019
|
|
|
2,500,000
|
|
|
|
1,074,250
|
|
|
November 19, 2019
|
|
|
2,067,282
|
|
|
|
888,311
|
|
|
|
|
|
7,784,444
|
|
|
$
|
5,304,531
|
|
|
| Summary of Options Outstanding |
A summary of the status of the Company’s outstanding stock options as of June 30, 2020 and
December 31, 2019 and changes during the periods ended on those dates is presented in the following table:
| |
|
Six Months Ended June 30, 2020
|
|
|
Year Ended December 31, 2019
|
|
|
Stock Options - CDN $ denominated
|
|
Number of
Stock
Options
|
|
Weighted average Exercise Price (CDN)
|
|
|
Number of
Stock
Options
|
|
Weighted average Exercise Price
(CDN)
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance beginning
|
|
|
860,379
|
|
|
$
|
5.89
|
|
|
|
875,433
|
|
|
$
|
18.20
|
|
|
Granted
|
|
|
25,765
|
|
|
|
0.66
|
|
|
|
35,719
|
|
|
|
4.54
|
|
|
Expired / forfeited
|
|
|
(17,980
|
)
|
|
|
24.55
|
|
|
|
(50,773
|
)
|
|
|
31.79
|
|
|
Balance ending
|
|
|
868,164
|
|
|
$
|
5.46
|
|
|
|
860,379
|
|
|
$
|
5.89
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock Options - USD $ denominated
|
|
Number of Stock Options
|
|
Weighted average Exercise Price (USD)
|
|
|
Number of Stock Options
|
|
Weighted average Exercise Price (USD)
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance beginning
|
|
|
854,042
|
|
|
$
|
2.65
|
|
|
|
50,349
|
|
|
$
|
1.55
|
|
|
Granted
|
|
|
-
|
|
|
|
-
|
|
|
|
843,693
|
|
|
|
2.72
|
|
|
Expired / forfeited
|
|
|
(467,255
|
)
|
|
|
2.20
|
|
|
|
(40,000
|
)
|
|
|
3.72
|
|
|
Balance ending
|
|
|
386,787
|
|
|
$
|
3.19
|
|
|
|
854,042
|
|
|
$
|
2.65
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total number of stock options
|
|
|
1,254,951
|
|
|
|
|
|
|
|
1,714,421
|
|
|
|
|
|
|
| Summary of Weighted-Average Remaining Contractual Life and Weighted-Average Exercise Price Options Outstanding and Options Exercisable on Exercise Prices |
The weighted-average remaining contractual life and weighted-average exercise price of options outstanding and of
options exercisable as at June 30, 2020 are as follows:
|
Canadian Dollar Denominated Options
|
|
|
Exercise Price (CDN)
|
|
Number Outstanding
|
|
Weighted-
average remaining contractual life (years)
|
|
Options Exercisable
|
|
| |
$
|
0.66
|
|
|
|
25,765
|
|
|
|
6.58
|
|
|
|
25,765
|
|
| |
$
|
3.28
|
|
|
|
31,498
|
|
|
|
5.17
|
|
|
|
31,498
|
|
| |
$
|
4.50
|
|
|
|
18,936
|
|
|
|
2.78
|
|
|
|
18,936
|
|
| |
$
|
4.54
|
|
|
|
735,998
|
|
|
|
3.77
|
|
|
|
379,030
|
|
| |
$
|
4.80
|
|
|
|
3,040
|
|
|
|
0.21
|
|
|
|
3,040
|
|
| |
$
|
9.00
|
|
|
|
11,481
|
|
|
|
5.02
|
|
|
|
11,481
|
|
| |
$
|
9.60
|
|
|
|
1,105
|
|
|
|
0.27
|
|
|
|
1,105
|
|
| |
$
|
11.70
|
|
|
|
6,667
|
|
|
|
0.44
|
|
|
|
6,667
|
|
| |
$
|
12.00
|
|
|
|
1,948
|
|
|
|
0.43
|
|
|
|
1,948
|
|
| |
$
|
30.00
|
|
|
|
28,260
|
|
|
|
1.15
|
|
|
|
28,260
|
|
| |
$
|
30.60
|
|
|
|
2,096
|
|
|
|
0.48
|
|
|
|
2,096
|
|
| |
$
|
32.40
|
|
|
|
810
|
|
|
|
0.58
|
|
|
|
810
|
|
| |
$
|
45.30
|
|
|
|
560
|
|
|
|
0.12
|
|
|
|
560
|
|
| |
|
|
|
|
|
868,164
|
|
|
|
3.75
|
|
|
|
511,196
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US Dollar Denominated Options
|
|
|
Exercise Price (USD)
|
|
Number Outstanding
|
|
Weighted-average remaining contractual life (years)
|
|
Options Exercisable
|
|
| |
$
|
1.55
|
|
|
|
50,349
|
|
|
|
1.47
|
|
|
|
50,349
|
|
| |
$
|
2.20
|
|
|
|
2,165
|
|
|
|
2.05
|
|
|
|
2,165
|
|
| |
$
|
3.40
|
|
|
|
294,273
|
|
|
|
5.87
|
|
|
|
197,273
|
|
| |
$
|
3.72
|
|
|
|
40,000
|
|
|
|
2.19
|
|
|
|
-
|
|
| |
|
|
|
|
|
386,787
|
|
|
|
5.14
|
|
|
|
249,787
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
|
1,254,951
|
|
|
|
4.11
|
|
|
|
760,983
|
|
|