Capital Stock, Warrants, Stock Options and Restricted Share Units (Tables)

3 Months Ended

Mar. 31, 2025

Equity [Abstract]

Schedule of Estimated Using the Binomial Model to Determine the Fair Value of Warrant Liabilities

The fair value of the warrant liabilities related to the various tranches of warrants issued during the period were estimated using the Binomial model to determine the fair value using the following assumptions as at March 31, 2025 and December 31, 2024:

January 2025 warrants	March 31, 2025			Grant Date
Expected life		860 days			943 days
Volatility		90	%		105	%
Risk free interest rate		2.46	%		2.85	%
Dividend yield		0	%		0	%
Share price (C$)	$	0.145		$	0.165
Fair value	$	5,370		$	7,116
Change in derivative liability	$	(1,746	)

November 2024 warrants	March 31, 2025			December 2024
Expected life		860 days			950 days
Volatility		90	%		95	%
Risk free interest rate		2.46	%		2.96	%
Dividend yield		0	%		0	%
Share price (C$)	$	0.145		$	0.155
Fair value	$	28,921		$	32,374
Change in derivative liability	$	(3,453	)

October 2024 warrants	March 31, 2025			December 2024
Expected life		860 days			950 days
Volatility		90	%		95	%
Risk free interest rate		2.46	%		2.96	%
Dividend yield		0	%		0	%
Share price (C$)	$	0.145		$	0.155
Fair value	$	20,952		$	25,881
Change in derivative liability	$	(4,929	)

August 2024 warrants	March 31, 2025			December 2024
Expected life		860 days			950 days
Volatility		90	%		95	%
Risk free interest rate		2.46	%		2.96	%
Dividend yield		0	%		0	%
Share price (C$)	$	0.145		$	0.155
Fair value	$	67,076		$	82,857
Change in derivative liability	$	(15,781	)

March 2023 warrants	March 31, 2025			December 31, 2024
Expected life		361 days			451 days
Volatility		24	%		24	%
Risk free interest rate		2.46	%		2.96	%
Dividend yield		0	%		0	%
Share price (C$)	$	0.145		$	0.155
Fair value	$	545,933		$	915,046
Change in derivative liability	$	(369,113	)

April 2022 special warrants issuance	March 31, 2025			December 31, 2024
Expected life		1 days			91 days
Volatility		105	%		70	%
Risk free interest rate		2.46	%		2.96	%
Dividend yield		0	%		0	%
Share price (C$)	$	0.145		$	0.155
Fair value	$	1		$	1
Change in derivative liability	$	-

April 2022 non-brokered issuance	March 31, 2025			December 31, 2024
Expected life		1 days			91 days
Volatility		105	%		70	%
Risk free interest rate		2.46	%		2.96	%
Dividend yield		0	%		0	%
Share price (C$)	$	0.145		$	0.155
Fair value	$	1		$	1
Change in derivative liability	$	-

June 2022 issuance	March 31, 2025			December 31, 2024
Expected life		1 days			91 days
Volatility		105	%		70	%
Risk free interest rate		2.46	%		2.96	%
Dividend yield		0	%		0	%
Share price (C$)	$	0.145		$	0.155
Fair value	$	1		$	1
Change in derivative liability	$	-

February 2021 issuance	March 31, 2025			December 31, 2024
Expected life		315 days			405 days
Volatility		75	%		70	%
Risk free interest rate		2.46	%		2.96	%
Dividend yield		0	%		0	%
Share price (C$)	$	0.145		$	0.155
Fair value	$	1,391		$	44,465
Change in derivative liability	$	(43,074	)

June 2019 issuance	March 31, 2025			December 31, 2024
Expected life		275 days			365 days
Volatility		75	%		70	%
Risk free interest rate		2.46	%		2.96	%
Dividend yield		0	%		0	%
Share price (C$)	$	0.145		$	0.155
Fair value	$	1		$	9,724
Change in derivative liability	$	(9,723	)

August 2019 issuance	March 31, 2025			December 31, 2024
Expected life		275 days			365 days
Volatility		75	%		70	%
Risk free interest rate		2.46	%		2.96	%
Dividend yield		0	%		0	%
Share price (C$)	$	0.145		$	0.155
Fair value	$	1		$	14,945
Change in derivative liability	$	(14,944	)

Schedule of Warrant Activity

			Weighted		Weighted
			average		average
	Number of		exercise price		grant date
	warrants		(C$)		value ($)
Balance, December 31, 2023		145,061,976	$	0.37	$	0.09
Issued		2,157,384		0.15		0.07
Balance, December 31, 2024		147,219,360	$	0.37	$	0.09
Balance, December 31, 2024		147,219,360	$	0.37	$	0.09
Issued		100,397		0.15		0.07
Balance, March 31, 2025		147,319,757	$	0.37	$	0.09

Schedule of Warrants Outstanding Exercise Price

At March 31, 2025, the following warrants were outstanding:

	Exercise		Number of		Number of warrants
Expiry date	price (C$)		warrants		exercisable
April 1, 2025		0.37		40,538,969		40,538,969
December 31, 2025		0.59		32,895,200		32,895,200
February 9, 2026		0.60		17,112,500		17,112,500
February 16, 2026		0.60		2,881,580		2,881,580
March 27, 2026		0.15		51,633,727		51,633,727
August 8, 2027		0.16		1,680,591		1,680,591
August 8, 2027		0.15		100,397		100,397
August 8, 2027		0.12		476,793		476,793
				147,319,757		147,319,757

Schedule of Compensation Options

At March 31, 2025, and December 31, 2024 the following broker options were outstanding:

				Weighted
	Number of			average
	broker			exercise price
	options			(C$)
Balance, December 31, 2023		4,301,150		$	0.24
Expired – February 2024		(351,000	)		0.50
Expired – April 2024		(1,879,892	)		0.30
Balance, December 31, 2024		2,070,258			0.15
Balance, December 31, 2024 (i)		2,070,258			0.15
Balance, March 31, 2025 (i)		2,070,258			0.15

(i) The grant date fair value of the March 2023 Compensation Options was estimated at $111,971 using the Black-Scholes valuation model with the following underlying assumptions:

Schedule of Estimated Using Black-Scholes Valuation Model for Fair Value of Broker Options

Grant Date	Risk free interest rate			Dividend yield			Volatility			Stock price		Weighted average life
March 2023		3.4	%		0	%		120	%		C$0.11		3 years

Schedule of Broker Exercise Price

	Exercise		Number of		Grant date Fair value
Expiry date	price (C$)		broker options		($)
March 27, 2026(ii)	$	0.15		2,070,057	$	111,971

i) Exercisable into one March 2023 Unit.

Schedule of Stock Options

Outstanding stock options at March 31, 2025 and December 31, 2024 were as follows:

				Weighted
				average
	Number of			exercise price
	stock options			(C$)
Balance, December 31, 2023		8,970,636		$	0.52
Granted August 1, 2024		87,493		$	0.16
Expired October 24, 2024		(1,575,000	)	$	0.60
Expired October 31, 2024		(1,037,977	)	$	0.34
Balance, December 31, 2024		6,445,152		$	0.52
Balance, December 31, 2024		6,445,152		$	0.52
Balance, March 31, 2025		6,445,152		$	0.52

Schedule of Actual Stock Options Issued and Outstanding

The following table reflects the stock options issued and outstanding as of March 31, 2025:

						Number of
		remaining		Number of		options
Exercise		contractual		options		vested		Grant date
price (C$)		life (years)		outstanding		(exercisable)		fair value ($)
	0.55		0.05		5,957,659		5,957,659		1,536,764
	0.15		2.65		400,000		400,000		37,387
	0.16		4.34		87,493		-		7,242
					6,445,152		6,357,659	$	1,581,393

Schedule of Restricted Share Units

Outstanding RSUs at March 31, 2025 and December 31, 2024 were as follows: 

				Weighted
				average
				grant date
				fair value
	Number of			per share
	shares			(C$)
Unvested as at December 31, 2023		7,044,527		$	0.24
Granted		9,720,403		$	0.11
Vested		(2,667,436	)	$	0.23
Forfeited		(71,000	)	$	0.50
Unvested as at December 31, 2024		14,026,494		$	0.15
Unvested as at December 31, 2024		14,026,494		$	0.15
Vested		(672,450	)		0.10
Unvested as at March 31, 2025		13,354,044		$	0.15

(i)

On January 29, 2024, the Company granted 672,450 RSUs to the CFO of the Company, which vest on January 29, 2025. The vesting of these RSUs resulted in stock-based compensation of $3,552 and $8,880 for the three months ended March 31, 2025 and March 31, 2024, respectively, which is included in operating expenses in the condensed interim consolidated statements of loss and comprehensive loss.

(ii)

On March 13, 2024, the Company granted 9,047,953 RSUs to certain executives and employees of the Company, which vest in one-third increments on March 13 of 2025, 2026 and 2027. The vesting of these RSUs resulted in stock-based compensation of $98,979 and $22,220 for the three months ended March 31, 2025 and March 31, 2024 respectively, which is included in operating expenses in the condensed interim consolidated statements of loss and comprehensive loss.