Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure of Shareholder's Equity [Line Items]

Disclosure of number and weighted average exercise prices of share options

The following table summarizes information about the stock options outstanding and exercisable:

	Year ended December 31, 2020					Year ended December 31, 2019
		Number of options			Weighted average exercise price		Number of options			Weighted average exercise price
Balance at beginning of the year		3,518,335		$	3.26		3,130,000		$	4.17
Granted during the year		-			-		1,090,000			1.30
Expired during the year		(980,000	)		4.29		(600,000	)		4.36
Forfeited during the year		(83,333	)		2.17		(101,665	)		3.48
Balance at end of the year		2,455,002		$	2.89		3,518,335		$	3.26
Options exercisable at the end of the year		1,711,669		$	3.51		1,972,223		$	4.32

Disclosure of indirect measurement of fair value of goods or services received, share options granted during period

The fair value of the stock options granted have been estimated on the date of grant using the Black-Scholes option pricing model. The assumptions are presented below for options granted during the December 31, 2019 period. Expected volatility is calculated by reference to the weekly closing share price for a period that reflects the expected life of the options. The 1,090,000 stock options issued on December 27, 2019 vest 1/3 on December 27, 2020, 1/3 on December 27, 2021 and 1/3 on December 27, 2022.

	December 31, 2019
Exercise price	$	1.30
Expected volatility		43.33%
Expected option life		5 years
Contractual option life		5 years
Expected forfeiture		none
Expected option cancellation		none
Expected dividend yield		0%
Risk-free interest rate		1.64%

Disclosure of number and weighted average exercise prices of other equity instruments

The following table shows the RSU awards which have been granted and settled during the year:

	December 31, 2020				December 31, 2019
RSU	Number of units		Weighted average value grant date fair value		Number of units		Weighted average value grant date fair value
Balance at beginning of year		1,065,000	$	1.31		368,997	$	5.01
Awards and payouts during the year (net):
RSUs awarded		-		-		990,000		1.13
RSUs settled and common shares issued		(98,334)		2.79		(289,997)		5.35
RSUs forfeited		(103,333)		1.36		(4,000)		6.49
Balance at end of the year*		863,333	$	1.13		1,065,000	$	1.31

*As at December 31, 2020, 287,778 RSUs (2019, 16,667 RSUs) have vested and have not yet been settled.

Explanation of effect of share-based payments on entity's profit or loss

The share-based payments recognized as an expense for the year ended December 31, 2020 and 2019 are as follows:

	Year ended		Year ended
	December 31, 2020		December 31, 2019
Expense recognized in the year for share-based payments	$	983	$	789

Earnings per share

The following table sets forth the computation of basic and diluted loss per share:

	Year ended December 31, 2020			Year ended December 31, 2019
Numerator
Net loss for the year	$	(263,429	)	$	(128,758	)
Denominator
For basic - weighted average number of shares  outstanding		210,406,658			210,134,192
Effect of dilutive securities		-			-
For diluted - adjusted weighted average number of  shares outstanding		210,406,658			210,134,192
Loss Per Share
Basic	$	(1.25	)	$	(0.61	)
Diluted	$	(1.25	)	$	(0.61	)

Black scholes [Member]

Disclosure of Shareholder's Equity [Line Items]

Earnings per share

The following tables reflect the number of stock options outstanding, the weighted average of stock options outstanding, and the exercise price of stock options outstanding at December 31, 2020. The Black-Scholes values are measured at the grant date.

At December 31, 2020
Expiry Date	Black-Scholes Value		Number of Options		Number of Exercisable Options		Exercise Price
June 30, 2021		120		100,000		100,000		6.35
November 3, 2021		214		100,000		100,000		6.96
February 5, 2022		171		100,000		100,000		5.86
December 21, 2022		931		875,002		875,002		3.48
June 30, 2023		203		200,000		133,333		3.30
June 30, 2023		41		40,000		40,000		3.30
December 27, 2024		416		1,040,000		363,334		1.30
	$	2,096		2,455,002		1,711,669	$	2.89