Note 14 - Stockholders' Equity

6 Months Ended

Nov. 30, 2022

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

Note 14. Stockholders' equity

Issued and outstanding

At November 30, 2022, the Company had 990,000,000 shares authorized to be issued, of which 243,333,333 are Class 1 shares, with nil shares issued and outstanding and 746,666,667 are Class 2 shares, with 613,181,559 shares issued and outstanding.

During the six months ended November 30, 2022, the Company issued the following Class 2 shares:

a) 32,481,149 shares under its At-the-Market (“ATM”) program for gross proceeds of $132,238. The Company paid $2,645 in commissions and other fees associated with these issuances for net proceeds of $129,593.

b)	33,314,412 shares to purchase the HEXO convertible notes receivable.
c)	11,806,126  shares to settle amounts owed to the non-controlling shareholders of Aphria Diamond in the amount of $43,818.

d) 1,196,464 shares for the exercise of various stock-based compensation awards.

e) 1,708,521 shares issued to acquire Montauk Brewing Company Inc.

The Company maintains stock-based compensation plans as disclosed in our Annual Financial Statements. For the three and six months ended November 30, 2022, the total stock-based compensation was $ 10,943 and $ 20,136, whereas for the three and six months ended  November 30, 2021, total stock based compensation was $8,253 and $17,670 respectively.

During the three and six months ended November 30, 2022, the Company granted 6,004,995 time-based RSUs and 2,634,744 performance based RSUs ( November 30, 2021 - 69,508 time-based RSUs and 1,414,666 performance based RSUs). The Company's total stock-based compensation expense recognized is as follows:

	For the three months				For the six months
	ended November 30,				ended November 30,
	2022		2021		2022		2021
Stock options	$	20	$	1,939	$	624	$	4,695
RSUs		10,923		6,314		19,512		12,975
Total	$	10,943	$	8,253	$	20,136	$	17,670