SHARE CAPITAL AND OTHER RESERVES (Tables)

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

SHARE CAPITAL AND OTHER RESERVES

Schedule of components of other reserves

	December 31,		December 31,
	2022		2021
Other reserve - Share options	$	1,781,096	$	1,624,053
Other reserve - Warrants		263,596		—
	$	2,044,692	$	1,624,053

Schedule of changes in share options

	2022			2021
		Weighted			Weighted
	Number of	average		Number of	average
	share options	exercise price		share options	exercise price
Outstanding, January 1,	716,663	$	2.37	716,663	$	2.36
Granted	460,003		0.92	—		—
Expired	(83,333)		2.36	—		—
Outstanding, December 31,	1,093,333	$	1.67	716,663	$	2.37

	Number of share	Weighted average
	options	exercise price
		$
Balance April 21, 2020	—	—
Granted	716,663	3.00
Outstanding as at December 31, 2020	716,663	3.00
Outstanding as at December 31, 2021	716,663	3.00

Schedule of information about share options outstanding and exercisable

	Share options outstanding		Share options exercisable
	Number of	Weighted	Number of	Weighted
	share options	average years	share options	average
Exercise prices	outstanding	to expiry	exercisable	exercise price
$0.50 - $1.00	460,003	4.82	114,994		0.92
$2.01 - $2.50	633,330	7.20	633,330	$	2.22
	1,093,333	6.20	748,324	$	2.02

At December 31, 2021, the following share options were outstanding and exercisable:

Number of share	Exercise price per
options	share	Expiry Date
	$	$
716,663	3.00	December 2, 2030

Number of share options	December 31, 2021
Weighted average exercise price for exercisable options	$	3.00
Weighted average share price for options exercised		—
Weighted average years to expiry for exercisable options		8.93	years

Schedule of weighted average assumptions used to estimate the fair value of share options granted

			For the year ended
	December 31,		December 31,
	2022		2021
Expected life	5.00 years		N/A
Expected volatility	143.18	%	N/A
Risk-free interest rate	4.09	%	N/A
Expected dividend yield	—		N/A
Forfeiture rate	—		N/A

Schedule of changes in warrants

	2022			2021
	Number of	Warrant		Number of	Warrant
	warrants	reserve		warrants	reserve
Outstanding, January 1,	—	$	—	—	$	—
Transactions during the year:
Warrants issued - IPO	262,833		238,217	—		—
Warrants issued - consultants	100,000		25,379	—		—
Outstanding, December 31,	362,833	$	263,596	—	$	—

Schedule of weighted average assumptions used to estimate the fair value of warrants using the Black-Scholes pricing model

			For the year ended
	December 31,		December 31,
	2022		2021
Expected life	1.91 years		N/A
Expected volatility	109.94	%	N/A
Risk-free interest rate	1.42	%	N/A
Expected dividend yield	—		N/A
Forfeiture rate	—		N/A