| Summary of Contributed Surplus-Warrant Reserve |
As at December 31, 2021, the following equity warrants were outstanding:
|
Issue Date |
|
|
Expiry Date |
|
|
Exercise Price |
|
|
Currency |
|
|
Number Issued |
|
|
Number Outstanding |
| |
|
|
|
|
|
|
$ |
|
|
|
|
|
|
|
|
|
| |
27-Mar-20 |
|
|
|
27-Mar-25 |
|
|
|
0.21 |
|
|
|
USD |
|
|
|
154,350 |
|
|
|
93,100 |
| |
06-May-20 |
|
|
|
06-Nov-25 |
|
|
|
0.45 |
|
|
|
USD |
|
|
|
125,455 |
|
|
|
73,343 |
| |
10-Jun-20 |
|
|
|
10-Jun-24 |
|
|
|
1.25 |
|
|
|
USD |
|
|
|
1,260,000 |
|
|
|
643,387 |
| |
26-Jan-21 |
|
|
|
26-Jan-23 |
|
|
|
1.94 |
|
|
|
USD |
|
|
|
518,234 |
|
|
|
515,834 |
| |
26-Jan-21 |
|
|
|
26-Jan-26 |
|
|
|
2.00 |
|
|
|
USD |
|
|
|
3,709,677 |
|
|
|
3,123,377 |
| |
24-Feb-21 |
|
|
|
24-Feb-23 |
|
|
|
3.00 |
|
|
|
USD |
|
|
|
4,792,625 |
|
|
|
4,792,625 |
| |
24-Feb-21 |
|
|
|
24-Feb-23 |
|
|
|
3.00 |
|
|
|
USD |
|
|
|
670,967 |
|
|
|
670,967 |
| |
Balance at December 31, 2021 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11,231,308 |
|
|
|
9,912,633 |
|
|
| Schedule of Warrants Issued and Outstanding |
The Company issued 9,691,503 warrants pursuant to the equity offerings closed in January and February of 2021. Each warrant entitled the holder to purchase one common share at a fixed price, these warrants were classified as equity under IAS 32. These equity warrants expire between January 26, 2023 and November 6, 2025 and are not revalued at each reporting period.
|
|
|
Equity Warrants |
|
|
Average exercise price |
|
|
Warrant Reserve |
| |
|
|
|
|
|
$ |
|
|
$ |
| |
Balance at January 1, 2020 |
|
|
591,911 |
|
|
|
3.40 |
|
|
|
642 |
| |
Issuance of broker warrants |
|
|
1,539,805 |
|
|
|
1.08 |
|
|
|
1,029 |
| |
Balance at January 1, 2021 |
|
|
2,131,716 |
|
|
|
1.72 |
|
|
|
1,671 |
| |
January 2021 Equity Offering |
|
|
3,709,677 |
|
|
|
2.00 |
|
|
|
3,164 |
| |
January 2021 Equity Offering-broker warrants |
|
|
518,234 |
|
|
|
1.94 |
|
|
|
1,384 |
| |
February 2021 Equity Offering |
|
|
4,792,625 |
|
|
|
3.00 |
|
|
|
5,928 |
| |
February 2021 Equity Offering-broker warrants |
|
|
670,967 |
|
|
|
3.00 |
|
|
|
1,238 |
| |
Exercised |
|
|
(1,318,675 |
) |
|
|
1.51 |
|
|
|
(994 |
) | |
Expired |
|
|
(591,911 |
) |
|
|
3.40 |
|
|
|
(642 |
) | |
Balance at December 31, 2021 |
|
|
9,912,633 |
|
|
|
2.47 |
|
|
|
11,749 |
|
|