Share Capital (Tables)

12 Months Ended

Dec. 31, 2021


			Shares of Common Stock
Balance, December 31, 2018			387,079,027
Shares repurchased and cancelled			(20,097,471)
Balance, December 31, 2019 and 2020			366,981,556
Options exercised			162,944

Balance, December 31, 2021			367,144,500

Schedule of Information About PSU, DSU, RSU and Stock Option Activity

The following table provides information about PSU, DSU and stock option activity for the year ended December 31, 2021:


	PSUs	DSUs	Stock Options
	Number of Outstanding Share Units	Number of Outstanding Share Units	Number of Outstanding Stock Options	Weighted Average Exercise Price /Stock Option ($)
Balance, December 31, 2020	23,273,404	4,067,897	15,444,949	$	1.50
Granted	13,428,840	1,642,867	5,889,310	0.80
Exercised	(1,639,926)	—	(162,944)	0.62
Forfeited	(4,697,122)	—	(1,998,558)	1.14
Expired	—	—	(1,324,035)	3.17
Balance, December 31, 2021	30,365,196	5,710,764	17,848,722	$	1.20
Vested and exercisable, at December 31, 2021			7,534,488	$	1.66
Vested, or expected to vest, at December 31, 2021 through the life of the options			17,394,842	$	1.21

Schedule of Assumptions Using the Black-Scholes Option Pricing Model

The fair value of each stock option award is estimated on the date of grant using the Black-Scholes option-pricing model based on assumptions noted in the following table:

Year Ended December 31,

2021

2020

2019

Dividend yield (per share)

Nil

Volatility

71% to 80%

50% to 69%

48% to 54%

Weighted average volatility

Risk-free interest rate

0.4% to 0.9%

0.3% to 1.7%

1.5% to 2.5%

Expected term

4 - 5 years

5 years

4 - 5 years

Schedule of Weighted Average Number of Shares

Weighted Average Shares Outstanding


	Year Ended December 31,
	2021	2020	2019
Weighted average number of common shares outstanding	367,022,903	366,981,556	376,495,306
Shares issuable pursuant to stock options	1,592,092	—	87,204
Shares assumed to be purchased from proceeds of stock options	(741,606)	—	(74,698)
Weighted average number of diluted common shares outstanding	367,873,389	366,981,556	376,507,812