SHARE CAPITAL (Tables)
|
12 Months Ended |
Dec. 31, 2020 |
|---|
| Share Capital [Abstract] |
|
| 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 are Granted to Directors, Officers, Employees and Consultants |
|
Grant date / recipient
|
Number of
options
|
Exercise price
|
Vesting conditions
|
Contractual
life of
options
|
|
January 28, 2020, options
granted to a director
|
25,765
|
CDN $0.657
|
Options vest immediately
|
7 years
|
|
July 30, 2020, options granted
to a director
|
22,425
|
CDN $1.266
|
Options vest immediately
|
7 years
|
|
July 30, 2020, options granted
to employees
|
1,350,000
|
USD $0.962
|
Options vest as to ¼ of the total
number of options granted,
every year from grant date
|
7 years
|
|
September 29, 2020, options
granted to board members
|
27,304
19,568
|
CDN $0.960
USD $0.730
|
Options vest immediately
|
7 years
|
|
September 30, 2020, options
granted to a consultant
|
4,723
|
USD $0.745
|
Options vest immediately
|
3 years
|
|
December 10, 2020, options
granted to employees
|
4,000
623,000
|
CDN $1.700
USD $1.310
|
Options vest as to ¼ of the total
number of options granted,
every year from grant date
|
7 years
|
|
| Summary of Options Outstanding |
|
STOCK OPTIONS OUTSTANDING
|
|
CANADIAN DOLLAR
|
|
|
UNITED STATES DOLLAR
|
|
| |
|
Number
stock
options
|
|
|
Weighted
Average
Exercise Price
|
|
|
Number of
stock
options
|
|
|
Weighted
Average
Exercise Price
|
|
|
Balance at December 31, 2019
|
|
|
860,379
|
|
|
$
|
5.89
|
|
|
|
854,042
|
|
|
$
|
2.65
|
|
|
Granted
|
|
|
79,494
|
|
|
|
0.99
|
|
|
|
1,997,291
|
|
|
|
0.96
|
|
|
Expired / forfeited
|
|
|
(105,908
|
)
|
|
|
8.39
|
|
|
|
(761,528
|
)
|
|
|
2.66
|
|
|
Balance at December 31, 2020
|
|
|
833,965
|
|
|
$
|
5.10
|
|
|
|
2,089,805
|
|
|
$
|
1.13
|
|
| |
|
CANADIAN DOLLAR
|
|
|
UNITED STATES DOLLAR
|
|
| |
|
Number
stock
options
|
|
|
Weighted
Average
Exercise Price
|
|
|
Number of
stock
options
|
|
|
Weighted
Average
Exercise Price
|
|
|
Balance at December 31, 2018
|
|
|
875,433
|
|
|
$
|
18.20
|
|
|
|
50,349
|
|
|
$
|
1.55
|
|
|
Granted
|
|
|
35,719
|
|
|
|
4.54
|
|
|
|
843,693
|
|
|
|
2.72
|
|
|
Expired / forfeited
|
|
|
(50,773
|
)
|
|
|
31.79
|
|
|
|
(40,000
|
)
|
|
|
3.72
|
|
|
Balance at December 31, 2019
|
|
|
860,379
|
|
|
$
|
5.89
|
|
|
|
854,042
|
|
|
$
|
2.65
|
|
|
| Summary of Weighted-Average Remaining Contractual Life and Weighted-Average Exercise Price Options Outstanding and Options Exercisable on Exercise Prices |
|
Canadian Dollar Denominated Options
|
|
|
Exercise Price (CDN)
|
|
Number
Outstanding
|
|
|
Weighted-average remaining
contractual life (years)
|
|
|
Options Exercisable
|
|
|
$0.66
|
|
|
25,765
|
|
|
|
6.08
|
|
|
|
25,765
|
|
|
$0.96
|
|
|
27,304
|
|
|
|
6.75
|
|
|
|
27,304
|
|
|
$1.27
|
|
|
22,425
|
|
|
|
6.58
|
|
|
|
22,425
|
|
|
$1.70
|
|
|
4,000
|
|
|
|
6.95
|
|
|
|
-
|
|
|
$3.28
|
|
|
31,498
|
|
|
|
4.66
|
|
|
|
31,498
|
|
|
$4.54
|
|
|
682,422
|
|
|
|
3.09
|
|
|
|
360,237
|
|
|
$9.00
|
|
|
11,481
|
|
|
|
4.52
|
|
|
|
11,481
|
|
|
$30.00
|
|
|
28,260
|
|
|
|
0.65
|
|
|
|
28,260
|
|
|
$32.40
|
|
|
810
|
|
|
|
0.07
|
|
|
|
810
|
|
| |
|
|
833,965
|
|
|
|
3.61
|
|
|
|
507,780
|
|
|
United States Dollar Denominated Options
|
|
|
Exercise Price (USD)
|
|
Number
Outstanding
|
|
|
Weighted-average remaining
contractual life (years)
|
|
|
Options Exercisable
|
|
|
$0.73
|
|
|
19,568
|
|
|
|
6.75
|
|
|
|
19,568
|
|
|
$0.75
|
|
|
4,723
|
|
|
|
2.75
|
|
|
|
4,723
|
|
|
$0.96
|
|
|
1,350,000
|
|
|
|
6.58
|
|
|
|
-
|
|
|
$1.31
|
|
|
623,000
|
|
|
|
6.95
|
|
|
|
-
|
|
|
$1.55
|
|
|
50,349
|
|
|
|
0.96
|
|
|
|
50,349
|
|
|
$2.20
|
|
|
2,165
|
|
|
|
5.55
|
|
|
|
2,165
|
|
|
$3.72
|
|
|
40,000
|
|
|
|
1.69
|
|
|
|
-
|
|
| |
|
|
2,089,805
|
|
|
|
6.45
|
|
|
|
76,805
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
2,923,770
|
|
|
|
5.64
|
|
|
|
584,585
|
|
|
| Summary of Inputs Used in Measurement of Fair Values at Grant Date of Share Based Option Plan |
| |
|
CANADIAN DOLLARS
|
|
|
UNITED STATES DOLLARS
|
|
| |
|
2020
|
|
|
2019
|
|
|
2020
|
|
|
2019
|
|
|
Fair value at grant
|
|
$
|
0.82
|
|
|
1.61
|
|
|
0.89
|
|
|
1.48
|
|
|
Share price at grant
|
|
|
1.01
|
|
|
2.90
|
|
|
1.04
|
|
|
2.36
|
|
|
Exercise price
|
|
|
1.04
|
|
|
4.54
|
|
|
1.07
|
|
|
2.72
|
|
|
Expected option life
|
|
4 years
|
|
|
3.4 years
|
|
|
4.0 years
|
|
|
3.5 years
|
|
|
Risk free interest rate
|
|
|
0.67%
|
|
|
1.43%
|
|
|
0.29%
|
|
|
1.50%
|
|
|
Expected volatility
|
|
|
145.61%
|
|
|
98.10%
|
|
|
149.77
|
|
|
97.90%
|
|
|
Expected dividends
|
|
Nil
|
|
|
Nil
|
|
|
Nil
|
|
|
Nil
|
|
|
| Schedule of Warrants Issued and Outstanding |
|
Expiry date
|
|
Exercise
Price
|
|
|
Outstanding
at
December
31, 20191
|
|
|
Issued
|
|
|
Exercised
|
|
|
Expired
|
|
|
Outstanding
at December
31, 20201
|
|
|
April 12, 2020
|
|
$
|
9.00000
|
|
|
|
89,795
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(89,795
|
)
|
|
|
-
|
|
|
August 10, 2020
|
|
$
|
2.50000
|
|
|
|
537,570
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(537,570
|
)
|
|
|
-
|
|
|
March 21, 2021
|
|
$
|
3.40000
|
|
|
|
591,911
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
591,911
|
|
|
June 10, 2024
|
|
$
|
1.25000
|
|
|
|
-
|
|
|
|
1,260,000
|
|
|
|
-
|
|
|
|
-
|
|
|
|
1,260,000
|
|
|
March 27, 2025
|
|
$
|
0.21250
|
|
|
|
-
|
|
|
|
490,000
|
|
|
|
(335,650
|
)
|
|
|
-
|
|
|
|
154,350
|
|
|
November 6, 2025
|
|
$
|
0.45335
|
|
|
|
-
|
|
|
|
386,015
|
|
|
|
(260,560
|
)
|
|
|
-
|
|
|
|
125,455
|
|
|
Ending balance
|
|
|
|
|
|
|
1,219,276
|
|
|
|
2,136,015
|
|
|
|
(596,210
|
)
|
|
|
(627,365
|
)
|
|
|
2,131,716
|
|
|