Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share Based Compensation [Abstract]

Share based compensation expense

(in thousands)	2024		2023
Share based compensation expense for:
Share options	$	(1,555)	$	(1,324)
RSUs		(3,102)		(2,336)
PSUs		—		(86)
Share based compensation expense	$	(4,657)	$	(3,746)

Summary of the share options continuity

	2024			2023
		Weighted			Weighted
		Average			Average
		Exercise			Exercise
	Number of	Price per		Number of	Price per
	Common	Share		Common	Share
	Shares	(CAD)		Shares	(CAD)
Share options outstanding-January 1	5,220,667	$	1.49	8,539,214	$	1.09
Grants	1,618,000		2.59	1,881,000		1.54
Exercises (1)	(1,105,167)		1.24	(4,559,047)		0.78
Expiries	(16,000)		0.68	(24,000)		0.60
Forfeitures	(68,333)		1.53	(616,500)		1.37
Share options outstanding-December 31	5,649,167	$	1.85	5,220,667	$	1.49
Share options exercisable-December 31	2,575,834	$	1.52	2,757,669	$	1.35

(1) The weighted average share price at the date of exercise was $2.63 (December 31, 2023 - $2.05).

Summary of the Company's share options outstanding

	Weighted		Weighted-
	Average		Average
	Remaining		Exercise
Range of Exercise	Contractual	Number of	Price per
Prices per Share	Life	Common	Share
(CAD)	(Years)	Shares	(CAD)
Share options outstanding
$0.01 to $1.00	0.19	19,000	$	0.46
$1.01 to $1.50	2.28	2,671,166		1.40
$1.51 to $2.00	2.21	1,176,001		1.84
$2.01 to $2.50	3.60	242,000		2.19
$2.51 to $3.00	4.18	1,541,000		2.62
Share options outstanding-December 31, 2024	2.83	5,649,167	$	1.85

Fair value of options granted assumptions

		2024			2023
Risk-free interest rate		3.01% - 3.75	%		3.68% - 4.70	%
Expected stock price volatility		60.73% - 66.40	%		65.75% - 73.41	%
Expected life		3.40 years - 3.41	years		3.41 years to 3.43	years
Expected dividend yield		—			—
Fair value per options granted	$	0.93 to $1.38		$	0.79 to $1.14

RSUs continuity

	2024			2023
		Weighted			Weighted
		Average			Average
	Number of	Fair Value		Number of	Fair Value
	Common	Per RSU		Common	Per RSU
	Shares	(CAD)		Shares	(CAD)
RSUs outstanding-January 1	5,580,919	$	1.20	6,416,089	$	1.04
Grants	1,878,000	$	2.58	1,507,000		1.52
Exercises (1)	(374,168)	$	0.98	(2,157,835)		0.93
Forfeitures	(140,000)	$	2.21	(184,335)		1.65
RSUs outstanding-December 31	6,944,751	$	1.56	5,580,919	$	1.20
RSUs vested-December 31	4,050,083	$	1.08	3,189,921	$	0.85

(1) The weighted average share price at the date of exercise was $2.42 (2023 - $1.94).

PSUs continuity

	2024			2023
		Weighted			Weighted
		Average			Average
	Number of	Fair Value		Number of	Fair Value
	Common	Per PSU		Common	Per PSU
	Shares	(CAD)		Shares	(CAD)
PSUs outstanding-January 1	481,500	$	0.83	1,470,000	$	0.77
Grants	—		—	—		—
Exercises (1)	(221,500)		0.65	(988,500)		0.74
Forfeitures	—		—	—		—
PSUs outstanding-December 31	260,000	$	0.98	481,500	$	0.83
PSUs vested-December 31	260,000	$	0.98	481,500	$	0.83

(1) The weighted average share price at the date of exercise was $2.63 (2023 - $2.07).