SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2020

Share Based Compensation Abstract

Share based compensation expense

(in thousands)	2020			2019
Share based compensation expense for:
Share options	$	(559	)	$	(776	)
RSUs		(1,034	)		(1,043	)
PSUs		(234	)		(403	)
Share based compensation expense	$	(1,827	)	$	(2,222	)

Stock options continuity

	2020					2019
				Weighted					Weighted
				Average					Average
				Exercise					Exercise
	Number of Common			Price per Share		Number of Common			Price per Share
	Shares			(CAD)		Shares			(CAD)
Share options outstanding – January 1		13,827,243		$	0.75		13,865,193		$	0.83
Grants		3,671,000			0.46		3,005,000			0.67
Exercises (1)		(251,500	)		0.59		(663,150	)		0.61
Expiries		(1,424,000	)		0.97		(866,000	)		1.81
Forfeitures		(745,500	)		0.67		(1,513,800	)		0.79
Share options outstanding – December 31		15,077,243		$	0.67		13,827,243		$	0.75
Share options exercisable – December 31		10,289,743		$	0.74		9,747,721		$	0.80

(1) The weighted average share price at the date of exercise was CAD$0.72 (2019: CAD$0.70).

Stock options outstanding

Range of Exercise Prices per Share (CAD)	Weighted-Average Remaining Contractual Life (Years)		Number of Common Shares		Weighted-Average Exercise Price per Share (CAD)
Stock options outstanding
$0.25 to $ 0.49		4.21		3,502,000	$	0.45
$0.50 to $ 0.74		2.26		6,443,643		0.64
$0.75 to $ 0.99		1.19		5,131,600		0.85
		2.35		15,077,243	$	0.67

Fair value of options granted assumptions

	2020	2019
Risk-free interest rate	0.27% - 0.67%	1.31% - 1.65%
Expected stock price volatility	44.16% - 54.16%	43.86% - 49.46%
Expected life	3.4 years	3.4 to 3.5 years
Estimated forfeiture rate	2.84% - 3.08%	2.82% - 3.12%
Expected dividend yield	—	—
Fair value per option granted	CAD$0.15 - CAD$0.25	CAD$0.19 - CAD$0.26

RSUs continuity

	2020					2019
				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		2,754,099		$	0.70		1,200,432		$	0.65
Grants		3,345,750			0.38		1,927,000			0.73
Exercises (1)		(238,949	)		0.69		(373,333	)		0.70
Forfeitures		(169,001	)		0.59		—			—
RSUs outstanding – December 31		5,691,899		$	0.52		2,754,099		$	0.70
RSUs vested – December 31		970,670		$	0.69		303,810		$	0.65

(1) The weighted average share price at the date of exercise was CAD$0.56 (2019: CAD$0.67).

PSUs continuity

	2020					2019
				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		2,140,000		$	0.65		2,200,000		$	0.65
Grants		180,000			0.38		240,000			0.69
Exercises (1)		(120,000	)		0.65		(60,000	)		0.65
Forfeitures		(180,000	)		0.65		(240,000	)		0.65
PSUs outstanding – December 31		2,020,000		$	0.63		2,140,000		$	0.65
PSUs vested – December 31		700,000		$	0.65		380,000		$	0.65

(1) The weighted average share price at the date of exercise was CAD$0.67 (2019: CAD$0.67).