Subsequent Events

3 Months Ended

Mar. 31, 2022

Subsequent Events Abstract

Subsequent Event [Text Block]

16. Subsequent Events

On May 10, 2022, the shareholders of the Company approved the 2022 Amendment Resolution to amend and restate the 2016 Stock Option Plan. The Board had previously approved the amendment of the 2016 Stock Option Plan to make certain amendments to align the plan with evolving industry practice and shareholder expectations, as well as amendments of a housekeeping nature, which amendments were subject to ratification by Shareholders.

As a result of the adoption of the 2022 Stock Option Plan, no additional options will be granted under the 2016 Stock Option Plan and all previously granted options will be governed by the 2022 Stock Option Plan. Similar to the 2016 Stock Option Plan, the 2022 Stock Option Plan permits the granting of options to officers, employees, directors and eligible consultants of the Company. An aggregate number of up to 10% of the Company's issued and outstanding shares (on a non-diluted basis) or 15,465,129 will be issuable under the amended plan less 6,157,389 stock options already granted under previous versions of the Company's Stock Option Plan.