Share capital (Tables)

6 Months Ended

May 31, 2025

Share capital

Schedule of common stock outstanding roll forward

	in thousands of dollars, except share amounts
	Number of shares	Ascribed value
		$
November 30, 2024	161,085,313	190,503
Exercise of options	350,000	305
Shares issued from Restricted Share Units	2,767,851	2,008
Services settled by common shares	38,246	50
May 31, 2025, issued and outstanding	164,241,410	192,866

Schedule of assumptions used in the pricing model

	May 31, 2025
Risk-free interest rates	2.85%
Exercise price	CDN$1.52
Expected life	3 years
Expected volatility	89.3%
Expected dividends	Nil

Summary of the company's stock option plan

		May 31, 2025
		Weighted average
		exercise price
	Number of options	CDN$
Balance – beginning of the year	13,630,234	1.77
Granted	2,125,000	1.52
Exercised	(350,000)	0.82
Expired	(3,390,000)	2.75
Balance – end of the period	12,015,234	1.48

Summary of information about stock options

	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 exercise price - CDN	options	to expiry	CDN$	options	CDN$	options
$0.59 to $1.00	5,513,334	3.00	0.69	4,688,331	0.71	825,003
$1.01 to $2.00	2,080,000	4.52	1.52	979,999	1.52	1,100,001
$2.01 to $3.00	4,421,900	0.82	2.44	4,421,900	2.44	—
	12,015,234	2.46	1.48	10,090,230	2.15	1,925,004

Schedule of restricted share Units and deferred share units plans

	Number of RSUs	Number of DSUs	Number of Fixed DSUs
Balance – beginning of the year	2,793,339	3,133,412	—
Granted	1,811,096	72,943	237,533
Settled in common shares	(2,806,097)	—	—
Balance – end of the period	1,798,338	3,206,355	237,533