Share Capital (Tables)
|
12 Months Ended |
Dec. 31, 2018 |
|---|
| Statement [LineItems] |
|
| Summary of Options Outstanding |
A summary of the status of the Company’s
outstanding stock options as of December 31, 2018 and
December 31, 2017 and changes during the periods ended on
those dates is presented in the following table:
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|
Year Ended December 31,
2018 |
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|
Year Ended December 31,
2017 |
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| |
|
Number of
Stock Options |
|
|
Weighted-average
Exercise Price
(CDN) |
|
|
Number of
Stock Options |
|
|
Weighted-average
Exercise Price
(CDN) |
|
|
Balance Beginning
|
|
|
591,609 |
|
|
$ |
21.30 |
|
|
|
240,075 |
|
|
$ |
33.00 |
|
|
Granted
|
|
|
372,866 |
|
|
$ |
11.97 |
|
|
|
394,830 |
|
|
$ |
15.60 |
|
|
Expired/Forfeited
|
|
|
(38,693 |
) |
|
$ |
24.90 |
|
|
|
(43,296 |
) |
|
$ |
34.80 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Balance Ending
|
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|
925,782 |
|
|
$ |
17.32 |
|
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|
591,609 |
|
|
$ |
21.30 |
|
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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 December 31, 2018 are as follows:
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| Options Outstanding |
|
| Exercise Price (CDN) |
|
|
Number Outstanding |
|
|
Weighted-average remaining
contractual life (years) |
|
|
Options Exercisable |
|
| $ |
2.09 |
|
|
|
50,349 |
|
|
|
3.00 |
|
|
|
50,349 |
|
| $ |
3.28 |
|
|
|
31,498 |
|
|
|
6.67 |
|
|
|
31,498 |
|
| $ |
4.50 |
|
|
|
18,935 |
|
|
|
4.54 |
|
|
|
18,935 |
|
| $ |
4.80 |
|
|
|
3,040 |
|
|
|
1.71 |
|
|
|
3,040 |
|
| $ |
7.49 |
|
|
|
5,590 |
|
|
|
6.52 |
|
|
|
5,590 |
|
| $ |
9.00 |
|
|
|
11,481 |
|
|
|
6.52 |
|
|
|
11,481 |
|
| $ |
9.60 |
|
|
|
1,105 |
|
|
|
1.77 |
|
|
|
1,105 |
|
| $ |
11.70 |
|
|
|
6,667 |
|
|
|
1.93 |
|
|
|
6,667 |
|
| $ |
12.00 |
|
|
|
1,948 |
|
|
|
1.93 |
|
|
|
1,948 |
|
| $ |
12.90 |
|
|
|
50,000 |
|
|
|
5.30 |
|
|
|
12,500 |
|
| $ |
14.40 |
|
|
|
18,950 |
|
|
|
5.86 |
|
|
|
4,737 |
|
| $ |
15.00 |
|
|
|
16,667 |
|
|
|
5.11 |
|
|
|
4,167 |
|
| $ |
15.00 |
|
|
|
273,948 |
|
|
|
6.06 |
|
|
|
— |
|
| $ |
17.10 |
|
|
|
277,519 |
|
|
|
5.05 |
|
|
|
69,380 |
|
| $ |
30.00 |
|
|
|
105,719 |
|
|
|
2.65 |
|
|
|
81,462 |
|
| $ |
30.60 |
|
|
|
6,120 |
|
|
|
1.98 |
|
|
|
6,120 |
|
| $ |
32.40 |
|
|
|
18,810 |
|
|
|
2.08 |
|
|
|
18,810 |
|
| $ |
41.70 |
|
|
|
658 |
|
|
|
0.96 |
|
|
|
658 |
|
| $ |
45.30 |
|
|
|
560 |
|
|
|
1.61 |
|
|
|
560 |
|
| $ |
51.60 |
|
|
|
15,371 |
|
|
|
1.44 |
|
|
|
15,371 |
|
| $ |
58.20 |
|
|
|
10,847 |
|
|
|
0.39 |
|
|
|
10,847 |
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
925,782 |
|
|
|
4.82 |
|
|
|
355,225 |
|
|
|
|
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| Summary of Inputs Used in Measurement of Fair Values at Grant Date of Share Based Option Plan |
The inputs used in the measurement of fair values
at grant date of the share-based option plan are as follows:
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| |
|
2018 |
|
|
2017 |
|
|
Fair Value at grant date (CDN)
|
|
$ |
5.99 |
|
|
$ |
8.70 |
|
|
Share price at grant date (CDN)
|
|
$ |
10.79 |
|
|
$ |
14.75 |
|
|
Exercise price (CDN)
|
|
$ |
11.97 |
|
|
$ |
15.52 |
|
|
Expected Volatility
|
|
|
90.12% |
|
|
|
83.20% |
|
|
Option Life
|
|
|
3 years |
|
|
|
3-4 years |
|
|
Expected dividends
|
|
|
nil |
|
|
|
nil |
|
|
Risk-free interest rate
|
|
|
1.90% |
|
|
|
1.06% |
|
|
(based on government bonds)
|
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|
| Summary of Outstanding Warrants |
The following is a summary of outstanding warrants
included in Shareholder’s Equity as at December 31, 2018
and December 31, 2017 and changes during the periods then
ended.
|
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| |
|
December 31, 2018 |
|
|
December 31, 2017 |
|
| |
|
Number of
Warrants |
|
|
Amount |
|
|
Number of
Warrants |
|
|
Amount |
|
|
Opening Balance
|
|
|
175,357 |
|
|
$ |
741,917 |
|
|
|
188,381 |
|
|
$ |
855,800 |
|
|
Expired during the year
|
|
|
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|
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|
|
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|
Exercise Price CDN $1.25
|
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|
Expiry March 18, 2018
|
|
|
(175,357 |
) |
|
|
(741,917 |
) |
|
|
— |
|
|
|
— |
|
|
Expired during the year
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
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|
Exercise Price CDN $1.77
|
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|
|
|
|
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|
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|
Expiry March 14, 2017
|
|
|
— |
|
|
|
— |
|
|
|
(13,024 |
) |
|
|
(113,883 |
) |
|
|
|
|
|
|
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|
|
|
|
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|
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|
Ending Balance
|
|
|
—
|
|
|
$ |
—
|
|
|
|
175,357 |
|
|
$ |
741,917 |
|
|
|
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