Share capital (Tables)

9 Months Ended

Aug. 31, 2019

Share capital

Schedule of common stock outstanding roll forward

Authorized:

unlimited common shares, no par value

	in thousands of dollars, except share amounts
		Ascribed value
	Number of shares	$
November 30, 2017	105,684,523	136,525
Bought deal financing	24,784,482	28,750
Share issuance costs	—	(1,805)
Exercise of options	315,148	140
Restricted share units	800,000	457
NovaGold DSU conversion	1,459	2
November 30, 2018	131,585,612	164,069
Exercise of options	203,112	122
Restricted share units	412,501	424
Deferred share units	182,132	189
Exercise of warrants	6,521,740	12,166
August 31, 2019, issued and outstanding	138,905,097	176,970

Schedule of assumptions used in the pricing model

Assumptions used in the pricing model for the period are as provided below.

	August 31, 2019
Risk-free interest rates		2.03	%
Exercise price	CAD$	2.97
Expected life		3.0 years
Expected volatility		75.0	%
Expected dividends		Nil

Summary of the company's stock option plan

A summary of the Company’s stock option plan and changes during the nine - month period ended August 31, 2019 is as follows:

	August 31, 2019
		Weighted average
		exercise price
	Number of options	$
Balance – beginning of the period	8,821,434	0.60
Granted	2,527,500	2.22
Exercised	(306,432)	0.84
Balance – end of period	11,042,502	0.97

Summary of information about stock options

The following table summarizes information about the stock options outstanding at August 31, 2019.

	Outstanding			Exercisable		Unvested
			Weighted		Weighted
	Number of	Weighted	average	Number of	average	Number of
	outstanding	average years	exercise price	exercisable	exercise price	unvested
Range of price	options	to expiry	$	options	$	options
$0.33 to $0.50	3,876,433	0.97	0.39	3,876,433	0.39	—
$0.51 to $1.00	4,333,569	2.21	0.72	3,885,233	0.71	448,336
$1.01 to $1.50	225,000	3.62	1.32	175,000	1.29	50,000
$1.51 to $2.00	90,000	3.87	1.83	73,333	1.82	16,667
$2.01 to $2.52	2,517,500	4.27	2.21	1,257,498	2.22	1,260,002
	11,042,502	2.29	0.96	9,267,497	0.80	1,775,005

Schedule of restricted share Units and deferred share units plans

A summary of the Company’s unit plans and changes during the nine - month period ended August 31, 2019 is as follows:

	Number of RSUs	Number of DSUs
Balance – beginning of the period	400,002	1,182,106
Granted	225,000	119,139
Vested/paid	(412,501)	(182,132)
Balance – end of period	212,501	1,119,113