Share Capital (Tables)
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6 Months Ended |
Jun. 30, 2019 |
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| Share Capital [Abstract] |
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| Summary of Weighted Average Inputs Used in the Measurement of Fair Values at the Amendment Date of the Share-Based Option Plan |
The weighted average inputs used in the measurement of fair values at the amendment date of the share-based option plan are as follows:
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CDN $0.01-$1.40 |
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CDN $1.06-$2.10 |
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CDN $3.47 |
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CDN $3.47 |
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CDN $12.90-$51.60 |
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CDN $4.54 |
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98.6%-99.4% |
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98.6%-99.4% |
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1.0-3.5 years |
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1.0-3.5 years |
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Nil |
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Nil |
Risk free interest rate (based on government bonds) |
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1.48%-1.57% |
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1.48%-1.57% |
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| Summary of Options Outstanding |
A summary of the status of the Company’s outstanding stock options as of June 30, 2019 and December 31, 2018 and changes during the periods ended on those dates is presented in the following table: Stock Options – CDN $ denominated
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Six Months ended
June 30, 2019
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Year ended
December 31, 2018
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Number of
Stock Options |
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Weighted average
Exercise Price
(CDN)
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Number of
Stock Options |
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Weighted average
Exercise Price
(CDN)
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875,433 |
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$ |
18.20 |
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591,609 |
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$ |
21.30 |
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10,000 |
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$ |
4.54 |
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322,517 |
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$ |
13.51 |
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(41,745 |
) |
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$ |
31.29 |
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(38,693 |
) |
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$ |
24.90 |
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843,688 |
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$ |
6.23 |
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875,433 |
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$ |
18.20 |
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Stock Options – US $ denominated
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Six Months ended
June 30, 2019
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Year ended
December 31, 2018
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Number of
Stock Options |
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Weighted average
Exercise Price
(USD)
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Number of
Stock Options |
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Weighted average
Exercise Price
(USD)
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50,349 |
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$ |
1.55 |
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— |
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— |
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293,000 |
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$ |
3.44 |
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50,349 |
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$ |
1.55 |
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— |
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— |
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— |
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— |
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343,349 |
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$ |
3.17 |
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50,349 |
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$ |
1.55 |
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| 1. |
After giving consideration for 30:1 share consolidation effected June 2018. |
| 2. |
Options granted in the period ending June 30, 2019 will vest in accordance with vesting schedules and milestones over a period up to 7 years. |
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| 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, 2019 are as follows: Canadian Dollar Denominated Options
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Weighted-average |
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Exercise Price |
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Number |
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remaining contractual |
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Options |
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(CDN) |
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Outstanding |
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life (years) |
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Exercisable |
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| $ |
3.28 |
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31,498 |
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6.17 |
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31,498 |
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| $ |
4.50 |
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18,936 |
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3.78 |
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18,936 |
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| $ |
4.54 |
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717,402 |
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4.65 |
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245,831 |
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| $ |
4.80 |
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3,040 |
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1.21 |
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3,040 |
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| $ |
7.49 |
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5,590 |
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6.02 |
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5,590 |
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| $ |
9.00 |
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11,481 |
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6.02 |
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11,481 |
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| $ |
9.60 |
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1,105 |
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1.27 |
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1,105 |
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| $ |
11.70 |
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6,667 |
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1.44 |
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6,667 |
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| $ |
12.00 |
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1,948 |
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1.43 |
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1,948 |
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| $ |
30.00 |
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34,777 |
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2.15 |
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23,185 |
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| $ |
30.60 |
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2,625 |
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1.48 |
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2,625 |
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| $ |
32.40 |
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810 |
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1.58 |
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810 |
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| $ |
41.70 |
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658 |
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0.46 |
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658 |
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| $ |
45.30 |
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560 |
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1.12 |
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560 |
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| $ |
51.60 |
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6,592 |
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0.95 |
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6,592 |
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843,689 |
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4.52 |
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360,526 |
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US Dollar Denominated Options
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Weighted-average |
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Exercise Price |
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Number |
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remaining contractual |
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Options |
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(USD) |
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Outstanding |
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life (years) |
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Exercisable |
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| $ |
1.55 |
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50,349 |
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2.47 |
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50,349 |
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| $ |
3.72 |
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40,000 |
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2.63 |
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— |
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| $ |
3.40 |
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253,000 |
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6.84 |
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156,000 |
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343,349 |
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5.71 |
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206,349 |
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| Summary of Options are Granted to Directors, Officers, Employees and Consultants |
Options are granted to Directors, Officers, Employees and Consultants at various times. Options are to be settled by physical delivery of shares. Options and the terms of each issue over the six months ended June 30, 2019 are outlined below.
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Contractual Life
of Options |
February 14, 2019, options granted to a Consultant |
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40,000 |
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Options may vest over a 15-month vesting schedule |
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3 years |
May 29, 2019, options granted to a Director |
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253,000 |
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Options vest over a specified vesting period not exceeding 4 years |
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7 years |
June 28, 2019, options granted to an Employee |
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10,000 |
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Options vest as to 1/3 of the total number of Options granted, every year from Option Date |
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7 years |
| 1. |
Options granted to a consultant in February 2019 will vest in accordance with a vesting schedule and milestones achieved over a 15-month period. Accordingly, the Company will recognize expense for these Options as the service is provided and the milestones achieved. |
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| Summary of Inputs Used in Measurement of Fair Values at Grant Date of Share Based Option Plan |
The weighted average inputs used in the measurement of fair values at grant date of the share-based option plan are as follows:
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US $1.76 |
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CDN $5.99 |
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US $2.84 |
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CDN $10.79 |
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US $3.40 |
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CDN $11.97 |
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98.43% |
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90.12% |
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3.5 years |
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3 years |
|
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Nil |
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Nil |
Risk free interest rate (based on government bonds) |
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1.61% |
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1.90% |
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