Subsequent Events

3 Months Ended

Mar. 31, 2023

Subsequent Events [Abstract]

Subsequent Events

SUBSEQUENT EVENTS

The Company has evaluated subsequent events through May 15, 2023, which is the date these consolidated interim financial statements were issued, and has concluded that the following subsequent events have occurred that would require recognition in the consolidated financial statements or disclosure in the notes to the consolidated financial statements.

In April 2023, the Company issued 2,308,952 Class A Subordinate Voting Shares valued at $0.4 million based on the closing stock price of the SVS on the issuance date as part of the Membership Interest Purchase Agreement to acquire Euphoria, LLC. Refer to Note 5 for additional discussion.

In April 2023, the Board of Directors approved the settlement of $0.7 million of payables through the issuance of 4,062,500 Class A Subordinate Voting Shares to one of its service providers. The SVS shares were issued on May 10th at a price of $0.16 (or C$0.218) per share. The Board also approved a second payables settlement of an immaterial amount through the issuance of 625,000 purchase warrants of the Company (each, a "Warrant") to another service provider. Each Warrant will be exercisable at C$0.23 into one Class A Subordinate Voting Share for a period of four years.