Stock Options (Tables)

12 Months Ended

Dec. 31, 2023

Stock Options

Summary of Changes in Stock Options

A continuity of the Company’s outstanding stock options for the years ended December 31, 2023, 2022 and 2021 is presented below:

	Number of options			Weighted average exercise price (CAD)
Outstanding, January 1, 2021		2,380,000		$	0.70
Granted		90,000			2.00
Exercised		(782,000	)		0.69
Expired		(30,000	)		1.14
Cancelled		(130,000	)		0.97
Outstanding, December 31, 2021		1,528,000		$	0.79
Granted		1,442,000			1.86
Exercised		(669,000	)		1.33
Expired		(1,000	)		0.50
Outstanding, December 31, 2022		2,300,000		$	1.27
Exercised		(440,000	)		1.65
Expired		(240,000	)		0.79
Outstanding, December 31, 2023		1,620,000		$	1.24
Exercisable, December 31, 2023		1,620,000		$	1.24

Schedule of Stock Options Outstanding and Exercisable

At December 31, 2023 the Company had the following outstanding stock options:

Outstanding		Exercise Price		Expiry Date	Vested
	660,000		0.75 CAD	September 19, 2024		660,000
	128,000		0.40 CAD	July 31, 2025		128,000
	512,000		1.50 CAD	July 26, 2025		512,000
	50,000		1.90 CAD	June 6, 2026		50,000
	150,000		2.20 CAD	October 27, 2025		150,000
	70,000		2.20 CAD	December 9, 2024		70,000
	50,000		2.20 CAD	December 9, 2025		50,000
	1,620,000					1,620,000

Schedule of Share-Based Payment Award Stock Options Valuation Assumptions

	2022			2021
Risk-free interest rate		0.29 – 3.76	%		0.33 – 0.79	%
Expected life (years)		2 – 5			3 – 5
Expected volatility		125 – 234%			245 – 257	%
Dividend yield		0	%		0	%
Forfeiture rate		0	%		0	%
Weighted average fair value per share	$	0.28		$	0.24