XML 44 R31.htm IDEA: XBRL DOCUMENT v3.22.2
SHARE CAPITAL (Tables)
 12 Months Ended
Mar. 31, 2022
Share Capital, Reserves, and Other Equity Interest [Abstract]  
Summary of significant unobservable inputs used, equity The Company estimated the aggregate fair value of the vested warrants using the Black-Scholes option pricing model to be $3 with the following assumptions:
Risk-free interest rate0.38%
Expected annual volatility, based on comparable companies
85.00%
Expected life (in years)
2
Expected dividend yield
0.00%
Share price
$ 0.25
Exercise price
$ 0.25
The Company estimated the aggregate fair value of the finders’ warrants using the Black-Scholes option pricing model to be $87 with the following assumptions:
Risk-free interest rate
0.38%
Expected annual volatility, based on comparable companies
85.00%
Expected life (in years)
2.00
Expected dividend yield
0.00%
Share price
$ 0.64
Exercise price
$ 0.64
The Company estimated the aggregate fair value of these warrants using the Black-Scholes option pricing model to be $2,668 with the following assumptions:


Risk-free interest rate1.82%
Expected annual volatility, based on comparable companies95.00%
Expected life (in years)5
Expected dividend yield0.00%
Share price$ 0.25
Exercise price$ 0.25
The Company estimated the aggregate fair value of the warrants issued on August 20, 2020 and September 14, 2020 using the Black-Scholes option pricing model to be $948 with the following assumptions:

Risk-free interest rate1.21%
Expected annual volatility, based on comparable companies95.00%
Expected life (in years)5
Expected dividend yield0.00%
Share price$ 0.64
Exercise price$ 0.64
The Company estimated the aggregate fair value of the warrants issued on October 19, 2020 using the Black-Scholes option pricing model to be $49 with the following assumptions:
Risk-free interest rate0.36%
Expected annual volatility, based on comparable companies85%
Expected life (in years)2
Expected dividend yield0.00%
Share price$ 0.75
Exercise price$ 0.75

The Company estimated the aggregate fair value of the warrants issued on November 3, 2020 using the Black-Scholes option pricing model to be $1,388 with the following assumptions:

Risk-free interest rate0.38%
Expected annual volatility, based on comparable companies95.00%
Expected life (in years)5
Expected dividend yield0.00%
Share price$ 0.75
Exercise price$ 0.75
The Company estimated the aggregate fair value of the 2021 Warrants issued on February 4, 2021 using the Black-Scholes option pricing model to be $5,899 with the following assumptions:
Risk-free interest rate0.32%
Expected annual volatility, based on comparable companies85%
Expected life (in years)3
Expected dividend yield0.00%
Share price$ 2.12
Exercise price$ 3.25

The Company estimated the aggregate fair value of the Underwriters’ Warrants issued on February 4, 2021 using the Black-Scholes option pricing model to be $970 with the following assumptions:

Risk-free interest rate0.32%
Expected annual volatility, based on comparable companies85%
Expected life (in years)3
Expected dividend yield0.00%
Share price$ 2.12
Exercise price$ 2.25
The Company estimated the aggregate fair value of the compensation Common Share purchase warrants issued on August 3, 2021 using the Black-Scholes option pricing model to be $1,299 with the following assumptions:
Risk-free interest rate0.42 %
Expected annual volatility, based on comparable companies85 %
Expected life (in years)2
Expected dividend yield0.00%
Share price$3.83
Exercise price$3.40
Summary of share capital
Cybin US Class B Shares

Number of Class B Shares
As at March 31, 2020— 
Issued for acquisition868,833.0 
Issued on achievement of milestones93,410.3 
Balance as at March 31, 2021962,243.3 
Issued on achievement of milestones269,007.8 
Converted into Common Shares(184,116.0)
Balance as at March 31, 20221,047,135.1 
Summary of warrants
The continuity of the outstanding warrants for the two years ended March 31, 2022 is as follows:
Number of WarrantsWeighted average exercise price
$
Common Share Purchase Warrants
As at March 31, 202060,0000.25
Issued29,451,2841.13
Exercised(815,047)0.50 
As at March 31, 202128,696,2371.15
Issued658,860 3.40 
Exercised(3,231,261)0.91
Forfeited(575,000)0.54 
Outstanding as at March 31, 202225,548,8361.22
Exercisable as at March 31, 202224,755,0861.25
Unit Purchase Warrants(1)
As at March 31, 2020— — 
Issued868,7402.25
As at March 31, 2021868,7402.25
Issued— — 
Exercised——
Forfeited— — 
Outstanding as at March 31, 2022868,7402.25
Exercisable as at March 31, 2022868,7402.25
(1) Each unit consisted of one Common Share and one half of one Common Share purchase warrant, with each Common Share purchase warrant being exercisable to acquire one Common Share at an exercise price of $3.25 per Common Share.
The following summarizes information about warrants outstanding at March 31, 2022:
Date of ExpiryWarrants issuedWarrants outstandingWarrants exercisableWeighted average of exercisable priceEstimated grant date fair valueWeighted average remaining of outstanding contractual life
$$000’sYears
Common Share Purchase Warrants
June 15, 20222,018,0001,000,000500,0000.251080.21
June 26, 2022199,27599,63899,6380.64290.24
October 19, 2022143,600113,713113,7130.75420.55
November 3, 20222,590,0001,105,0001,105,0000.753760.59
August 3, 2023658,860658,860658,8603.401,2291.34
February 1, 20247,623,0007,146,5007,146,5003.255,4541.84
June 15, 202513,575,00012,800,00012,600,0000.252,3183.21
August 20, 20252,000,1251,475,1251,381,3750.646773.39
November 15, 20251,150,0001,150,0001,150,0000.252203.63
29,957,86025,548,83624,755,0861.2210,4532.59
Unit Purchase Warrants
February 4, 2024868,740868,740868,7402.259701.85
868,740868,740868,7402.259701.85
Summary of number and weighted average exercise prices of share options
The changes in options for the two years ended March 31, 2022 are as follows:
Number of OptionsWeighted average exercise price
$
As at March 31, 20201,702,3380.30
Granted21,927,5001.02
Exercised(492,386)0.37
Forfeited(1,105,000)0.37
As at March 31, 202122,032,4521.01
Granted9,144,6002.42
Exercised(1,588,300)0.83
Forfeited(683,750)1.55
Cancelled(20,000)2.78
Outstanding as at March 31, 202228,885,0021.45
Exercisable as at March 31, 202219,408,1821.29
The following summarizes information about stock options outstanding on March 31, 2022:
Exercise PriceNumber of options outstandingNumber of options exercisableWeighted average remaining lifeRecognized estimated grant date fair value
Expiry date$Years$000’s
May 10, 20222.9013,50013,5000.1128
June 29, 20222.9037,50037,5000.2578
August 12, 20222.906,2506,2500.3713
November 27, 20220.91200,000200,0000.6691
December 11, 20220.6759,95259,9520.7023
December 31, 20222.78700,000700,0000.75715
June 30, 20232.7820,00020,0001.2524
June 15, 20250.252,350,0002,350,0003.21420
October 12, 20250.753,000,0002,250,0003.541,557
November 4, 20250.756,000,0004,562,5003.603,110
November 13, 20250.88500,000375,0003.62303
December 11, 20251.48700,000625,0003.70721
December 14, 20251.742,264,1001,695,5723.712,668
December 28, 20251.89760,000570,0003.75969
January 2, 20261.89225,000140,6253.76286
February 15, 20262.03170,00096,8753.88213
February 16, 20262.03150,00093,7503.88194
March 10, 20261.391,272,6001,071,6333.951,210
March 15, 20261.55300,000187,5003.96318
March 28, 20261.361,575,0001,340,6253.991,463
March 29, 20261.3237,50037,5004.0036
March 31, 20261.35345,000165,6254.00270
June 28, 20262.903,648,0001,714,8754.256,224
August 16, 20262.48215,00080,6254.38260
August 18, 20262.48300,000112,5004.39352
September 27, 20263.15565,000141,2504.50637
September 27, 20262.87195,00073,1254.50262
September 30, 20263.15450,000112,5004.50486
December 31, 20263.1540,00010,0004.7616
December 31, 20261.501,250,00087,5004.76329
March 4, 20271.131,075,600268,9004.93287
March 4, 20273.1560,0007,5004.938
March 8, 20271.02400,000200,0004.94212
28,885,002 19,408,182 3.5823,783 
Summary of measurement of stock option fair value assumptions The aggregate estimated grant date fair value was determined to be $7,994, calculated using the Black-Scholes option pricing model with the following assumptions:
Risk-free interest rate0.98%
Expected annual volatility, based on comparable companies95.00%
Expected life (in years)5.00
Expected dividend yield0.00%
Share price$2.90
Exercise price$2.90
The estimated grant date fair value was determined to be $383, calculated using the Black-Scholes option pricing model with the following assumptions:
Risk-free interest rate0.81%
Expected annual volatility, based on comparable companies95.00%
Expected life (in years)5.00
Expected dividend yield0.00%
Share price$2.48
Exercise price$2.48
The estimated grant date fair value was determined to be $519, calculated using the Black-Scholes option pricing model with the following assumptions:
Risk-free interest rate0.82%
Expected annual volatility, based on comparable companies95.00%
Expected life (in years)5.00
Expected dividend yield0.00%
Share price$2.42
Exercise price$2.48
The estimated grant date fair value was determined to be $1,186, calculated using the Black-Scholes option pricing model with the following assumptions:
Risk-free interest rate1.06%
Expected annual volatility, based on comparable companies95.00%
Expected life (in years)5.00
Expected dividend yield0.00%
Share price$2.87
Exercise price$3.15
The estimated grant date fair value was determined to be $403, calculated using the Black-Scholes option pricing model with the following assumptions:
Risk-free interest rate1.06%
Expected annual volatility, based on comparable companies95.00%
Expected life (in years)5.00
Expected dividend yield0.00%
Share price$2.87
Exercise price$2.87
The estimated grant date fair value was determined to be $878, calculated using the Black-Scholes option pricing model with the following assumptions:
Risk-free interest rate1.11%
Expected annual volatility, based on comparable companies95.00%
Expected life (in years)5.00
Expected dividend yield0.00%
Share price$2.78
Exercise price$3.15
The estimated grant date fair value was determined to be $48, calculated using the Black-Scholes option pricing model with the following assumptions:
Risk-free interest rate0.53%
Expected annual volatility, based on comparable companies85.00%
Expected life (in years)1.75
Expected dividend yield0.00%
Share price$2.78
Exercise price$2.78
The estimated grant date fair value was determined to be $715, calculated using the Black-Scholes option pricing model with the following assumptions:
Risk-free interest rate0.41%
Expected annual volatility, based on comparable companies85.00%
Expected life (in years)1.25
Expected dividend yield0.00%
Share price$2.78
Exercise price$2.78
The estimated grant date fair value was determined to be $36, calculated using the Black-Scholes option pricing model with the following assumptions:
Risk-free interest rate1.25%
Expected annual volatility, based on comparable companies95.00%
Expected life (in years)5
Expected dividend yield0.00%
Share price$1.50
Exercise price$3.15
The estimated grant date fair value was determined to be $1,352, calculated using the Black-Company option pricing model with the following assumptions:
Risk-free interest rate1.25%
Expected annual volatility, based on comparable companies95.00%
Expected life (in years)5
Expected dividend yield0.00%
Share price$1.50
Exercise price$1.50
The estimated grant date fair value was determined to be $878, calculated using the Black-Scholes option pricing model with the following assumptions:
Risk-free interest rate1.46%
Expected annual volatility, based on comparable companies95.00%
Expected life (in years)5
Expected dividend yield0.00%
Share price$1.13
Exercise price$1.13
The estimated grant date fair value was determined to be $38, calculated using the Black-Scholes option pricing model with the following assumptions:
Risk-free interest rate1.46%
Expected annual volatility, based on comparable companies95.00%
Expected life (in years)5
Expected dividend yield0.00%
Share price$1.13
Exercise price$3.15
The estimated grant date fair value was determined to be $295, calculated using the Black-Scholes option pricing model with the following assumptions:
Risk-free interest rate1.61%
Expected annual volatility, based on comparable companies95.00%
Expected life (in years)5
Expected dividend yield0.00%
Share price$1.02
Exercise price$1.02
Summary of stock option information, exercise prices The following summarizes information about stock options outstanding on March 31, 2022:
Exercise PriceNumber of options outstandingNumber of options exercisableWeighted average remaining lifeRecognized estimated grant date fair value
Expiry date$Years$000’s
May 10, 20222.9013,50013,5000.1128
June 29, 20222.9037,50037,5000.2578
August 12, 20222.906,2506,2500.3713
November 27, 20220.91200,000200,0000.6691
December 11, 20220.6759,95259,9520.7023
December 31, 20222.78700,000700,0000.75715
June 30, 20232.7820,00020,0001.2524
June 15, 20250.252,350,0002,350,0003.21420
October 12, 20250.753,000,0002,250,0003.541,557
November 4, 20250.756,000,0004,562,5003.603,110
November 13, 20250.88500,000375,0003.62303
December 11, 20251.48700,000625,0003.70721
December 14, 20251.742,264,1001,695,5723.712,668
December 28, 20251.89760,000570,0003.75969
January 2, 20261.89225,000140,6253.76286
February 15, 20262.03170,00096,8753.88213
February 16, 20262.03150,00093,7503.88194
March 10, 20261.391,272,6001,071,6333.951,210
March 15, 20261.55300,000187,5003.96318
March 28, 20261.361,575,0001,340,6253.991,463
March 29, 20261.3237,50037,5004.0036
March 31, 20261.35345,000165,6254.00270
June 28, 20262.903,648,0001,714,8754.256,224
August 16, 20262.48215,00080,6254.38260
August 18, 20262.48300,000112,5004.39352
September 27, 20263.15565,000141,2504.50637
September 27, 20262.87195,00073,1254.50262
September 30, 20263.15450,000112,5004.50486
December 31, 20263.1540,00010,0004.7616
December 31, 20261.501,250,00087,5004.76329
March 4, 20271.131,075,600268,9004.93287
March 4, 20273.1560,0007,5004.938
March 8, 20271.02400,000200,0004.94212
28,885,002 19,408,182 3.5823,783