Share-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

Stock option activity is summarized as follows:

	Number of Options	Weighted Average Price CAD$	Weighted Average Years
Balance December 31, 2021	54,282,752	0.94	2.97
Granted	7,460,000	0.82	3.38
Exercised	(51,975)	0.80	0
Forfeited/ Expired	(4,639,765)	1.01	0
Balance September 30, 2022	57,051,012	0.89	2.36

Summary of Stock Options Values using Black-Scholes Model with Key Assumptions

In determining the amount of equity-based compensation during the year, the Company used the Black-Scholes option pricing model to establish the fair value of options granted during the year with the following key assumptions:

	2022		2021
Risk-Free Interest Rate	3.62	%	0.87% to 0.92%
Expected Life	3.5 years		5.00 years
Expected Annualized Volatility	89.83	%	86.20% to 93.53%
Forfeiture rate	—	%	—	%
Expected Dividend Yield	—	%	—	%