Warrants (Tables)

12 Months Ended

Dec. 31, 2024

Warrants

Summary of Changes in Warrants

A continuity of the Company’s outstanding share purchase warrants for the year ended December 31, 2024, 2023, and 2022 is presented below:

	Number of warrants			Weighted average exercise price (CAD)
Outstanding, December 31, 2021		1,568,866		$	0.63
Issued		21,011,038			2.31
Exercised		(2,185,366	)		0.87
Expired		(7,000	)		0.50
Outstanding, December 31, 2022		20,387,538		$	2.33
Issued		7,402,726			1.88
Expired		(10,000	)		2.17
Outstanding, December 31, 2023		27,780,264		$	2.21
Issued		34,819,200			0.18
Exercised		(33,638	)		0.09
Expired		(12,548,559	)		2.25
Outstanding, December 31, 2024		50,017,267		$	0.79

Schedule of Purchase Warrants Outstanding

At December 31, 2024, the Company had the following outstanding share purchase warrants:

Outstanding		Exercise Price		Expiry Date
	12,529,690		2.50 CAD	June 29, 2025
	300,288		1.55 CAD	June 29, 2025
	300,000		2.50 CAD	April 20, 2025
	2,101,727		0.30 CAD	November 28, 2025
	13,232,373		0.18 CAD	May 28, 2026
	520,364		0.09 CAD	May 28, 2026
	6,142,223		0.18 CAD	May 31, 2026
	362,250		0.09 CAD	May 31, 2026
	1,532,478		0.18 CAD	June 10, 2026
	39,095		0.09 CAD	June 10, 2026
	2,262,778		0.18 CAD	June 19, 2026
	60,900		0.09 CAD	June 19, 2026
	8,472,601		0.18 CAD	June 28, 2026
	2,000,000		0.18 CAD	July 3, 2026
	150,000		0.18 CAD	July 5, 2026
	10,500		0.09 CAD	July 5, 2026
	50,017,267

Schedule of Weighted Average Assumption for Warrants

	2024	2023	2022
Risk-free interest rate	3.74 – 4.20%	3.77 – 4.43%	1.21 – 3.13%
Expected life (years)	2	2	2 – 3
Expected volatility	92 – 93%	101 – 104%	154 – 182%
Dividend yield	0%	0%	0%