Note 11 - Derivative Warrant Liabilities (Tables)

12 Months Ended

Mar. 31, 2022

Notes To Financial Statements [Abstract]

Schedule of Derivative Liabilities at Fair Value

The derivative warrant liabilities are measured at fair value at each reporting period and the reconciliation of changes in fair value is presented in the following tables:

	Warrants issued May 2018					Warrants issued December 27, 2017
	March 31, 2022			March 31, 2021		March 31, 2022			March 31, 2021
	$			$		$			$
Balance – beginning of year		2,597			1,146		2,622			1,247
Change in fair value		(2,580	)		1,252		(2,622	)		1,174
Translation effect		(7	)		199		—			201
Balance – end of year		10			2,597		—			2,622
Fair value per warrant issuable		0.01			3.15		—			2.97

Fair Value Measurement Inputs and Valuation Techniques

The fair value of the derivative warrant liabilities was estimated using the Black-Scholes option pricing model and based on the following assumptions:

	Warrant liabilities issued May 2018						Warrant liabilities issued December 27, 2017
	March 31, 2022			March 31, 2021			March 31, 2022			March 31, 2021
	$			$			$			$
Exercise price	CAD $10.48			CAD $10.48			USD $10.08			USD $10.08
Share price	CAD $1.54			CAD $6.08			USD $1.22			USD $4.80
Risk-free interest		2.39	%		1.39	%		2.41	%		0.92	%
Contractual life (years)		1.11			2.11			0.74			1.74
Expected volatility		81.56	%		156.00	%		85.94	%		171.12	%