Share Awards

12 Months Ended

Jun. 30, 2022

Share-Based Payment Arrangement [Abstract]

Share Awards

10. Share Awards

The Company has established the 2021 Retention Plan (“the Plan”) to issue shares in the effort to retain key executives, directors, and certain employees. The Plan allows for several different types of awards to be granted, including but not limited to, restricted share units and share awards. Share awards generally vest over a four-year period at a rate of 25% per annum.

For the fiscal year ended June 30, 2022, the Company issued 100,000 restricted share units and 1,891,930 common share awards under the 2021 Equity Retention Plan. The Company recognized stock-based compensation expense of $1,233,155 and $nil for the fiscal years ended June 30, 2022 and 2021, respectively.