Share Purchase Warrants

12 Months Ended

Jun. 30, 2024

Share Purchase Warrants

Share Purchase Warrants

14. Share Purchase Warrants 

During the fiscal year ended June 30, 2024, there were 118,762 common shares issued related to warrants exercised, of which 85,428 common shares were issued pursuant to cashless exercise. In addition, there were 539,435 warrants vested related to previously granted stock-based compensation to officers of the Company, and of those, 171,500 warrants granted upon election by officers of the Company to receive warrants and RSUs in lieu of cash bonuses. The weighted average grant date fair value of warrants issued during the fiscal year ended June 30, 2024 totaled $1.90. The warrants have contractual terms of five years and vest over the respective employee’s requisite service period of three to five years.

During the fiscal year ended June 30, 2023, the Company received cashless warrant exercises of 50,000, however the resulting 45,545 common shares were issued after year-end, during the first fiscal quarter ending September 30, 2023.

	Number of Warrants			Weighted Average Exercise Price			Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
Balance, June 30, 2022		2,680,708		$	18.15
Granted		3,098,652			11.25
Exercised		(50,000	)		(1.20	)
Expired		-			-
Balance, June 30, 2023		5,729,360		$	14.53
Granted		1,407,135			4.96
Exercised		(100,002	)		1.13
Expired		(107,735	)		3.75
Balance, June 30, 2024		6,928,758		$	12.95			2.50	$	75,001
Exercisable, June 30, 2024		6,048,210		$	13.94			2.19	$	75,001