Share capital (Tables)

12 Months Ended

Dec. 31, 2019

Text Block [Abstract]

Summary of Stock Option Activity

A summary of the status of the plan as of December 31, 2019 and 2018 is as follows (options are granted in CAD and USD amounts are calculated using prevailing exchange rates):

	Number of options			Weighted average exercise price
				CAD			USD
Outstanding, January 1, 2018		1,344,687		$	0.69		$	0.55
Issued		—			—			—
Exercised		—			—			—
Forfeited		—			—			—
Expired		—			—			—
Outstanding, December 31, 2018		1,344,687		$	0.69		$	0.53
Issued		500,000			3.56			2.73
Exercised		(840,000	)		(0.68	)		(0.52	)
Forfeited		—			—			—
Expired		—			—			—
Outstanding, December 31, 2019		1,004,687		$	2.12		$	1.63

Summary of Weighted Average Assumptions Used to Estimate Fair Value of Stock Options Granted

The estimated fair value of the stock options granted was determined using the Black-Scholes option-pricing model with the following weighted-average assumptions:

	2019
Expected life of options	5.05 years
Risk-free interest rate	1.61%
Dividend yield	0%
Volatility	63%
Pre-vest forfeiture rate	3.67%

Schedule of Information With Respect to Stock Options Outstanding and Exercisable

The following table summarizes information about the stock options outstanding as at:

December 31, 2019:

Exercise price		Options outstanding								Options exercisable
$CAD	$USD	Number of options		Weighted average remaining contractual life (years)		Weighted average exercise price ($CAD)		Weighted average exercise price ($USD)		Number of options		Weighted average exercise price ($CAD)		Weighted average exercise price ($USD)
0.60 - 0.70	0.46 - 0.57		504,687		4.05		0.69		0.53		504,687		0.69		0.53
3.56 - 3.56	2.73 - 2.73		500,000		9.27		3.56		2.73		—		—		—

December 31, 2018:

Exercise price

Options outstanding

Options exercisable

$CAD

$USD

Number of options

Weighted average remaining contractual life (years)

Weighted average exercise price ($CAD)

Weighted average exercise price ($USD)

Number of options

Weighted average exercise price ($CAD)

Weighted average exercise price ($USD)

0.60 - 0.70

0.44 – 0.51

1,344,687

5.05

0.69

0.50

1,344,687

0.69

0.50

Summary of Status of Share Unit Plan for Other Equity Instruments

A summary of the status of the share unit plan as of December 31, 2019 and 2018 is as follows:

	Time based share units			Performance based share units
Outstanding, January 1, 2018		1,036,500			1,350,000
Issued		452,125			150,000
Exercised		(364,000	)		—
Forfeited		(79,375	)		—
Expired		—			—
Outstanding, December 31, 2018		1,045,250			1,500,000
Vested		—			—
Expected to vest		1,045,250			1,100,000
Outstanding, January 1, 2019		1,045,250			1,500,000
Issued		1,553,125			—
Exercised		(325,875	)		—
Forfeited		(125,000	)		(550,000	)
Expired		—			—
Outstanding, December 31, 2019		2,147,500			950,000
Vested		—			-
Expected to vest		2,147,500			-

	Time based share units		Performance based share units
Outstanding, January 1, 2019		1,045,250		1,500,000
Weighted average contractual life (years)		2.74		7.99
Outstanding, December 31, 2019		2,147,500		950,000
Weighted average contractual life (years)		3.03		7.02

Summary of Calculation of Basic Earnings Per Share

The calculation of basic earnings per share for the years ended December 31, 2019 and 2018 is as follows:

	2019						2018
	Net earnings		Weighted average number of common shares outstanding		Per share amount		Net earnings		Weighted average number of common shares outstanding		Per share amount
Net earnings attributable to shareholders:
Earnings per common share:
Basic	$	3,771,163		71,536,310		0.053	$	4,679,921		72,582,733	$	0.064
Share options				421,249						1,122,708
Share units				739,980						379,731
Diluted	$	3,771,163		72,697,539	$	0.052	$	4,679,921		74,085,172	$	0.063