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Equity (Tables)
12 Months Ended
Dec. 31, 2025
Disclosure Of Issued Capital [Abstract]  
Movements of RSUs

The following outlines the movements of the Company's RSUs:

 

 

Number of
RSUs

 

Weighted Average
Grant Price
($)

Balance at December 31, 2022

 

769,547

 

3.25

Granted

 

1,556,164

 

1.55

Vested

 

(257,489)

 

3.24

Forfeited

 

(3,102)

 

2.81

Balance at December 31, 2023

 

2,065,120

 

1.97

Granted

 

1,348,555

 

1.24

Vested

 

(738,244)

 

2.11

Forfeited

 

(95,156)

 

2.09

Balance at December 31, 2024

 

2,580,275

 

1.55

Granted

 

448,636

 

4.01

Vested

 

(1,184,225)

 

1.77

Forfeited

 

(2,350)

 

1.29

Balance at December 31, 2025

 

1,842,336

 

2.00

Summary of Warrants and Share Options

The following outlines the movements of the reserves related to the Company's common share purchase warrants, share options, RSUs and Debentures:

 

 

Reserves

 

 

Warrants

 

Share Based Awards

 

Convertible Debentures

 

Total

 

 

($)

 

($)

 

($)

 

($)

Balance at December 31, 2022

 

8,292

 

14,128

 

 

22,420

Vesting of RSUs

 

 

(826)

 

 

(826)

Exercise of share options

 

 

(1,823)

 

 

(1,823)

Share-based compensation - share options

 

 

1,405

 

 

1,405

Share-based compensation - RSUs

 

 

1,318

 

 

1,318

Convertible debentures:

 

 

 

 

 

 

 

 

Equity component of convertible debentures issued for cash, net of taxes

 

 

 

12,270

 

12,270

Transaction fees and issuance costs

 

 

 

(538)

 

(538)

Balance at December 31, 2023

 

8,292

 

14,202

 

11,732

 

34,226

Vesting of RSUs

 

 

(1,551)

 

 

(1,551)

Exercise of share options

 

 

(301)

 

 

(301)

Share-based compensation - share options

 

 

434

 

 

434

Share-based compensation - RSUs

 

 

1,873

 

 

1,873

Bought deal offering - GRC Warrants issued for cash

 

1,003

 

 

 

1,003

Balance at December 31, 2024

 

9,295

 

14,657

 

11,732

 

35,684

Vesting of RSUs

 

 

(2,092)

 

 

(2,092)

Exercise of share options

 

 

(138)

 

 

(138)

Exercise of common share purchase warrants

 

(478)

 

 

 

(478)

Share-based compensation - share options

 

 

947

 

 

947

Share-based compensation - RSUs

 

 

1,807

 

 

1,807

Convertible debentures - redemption and conversion

 

 

 

(11,732)

 

(11,732)

Balance at December 31, 2025

 

8,817

 

15,181

 

 

23,998

Summary of Share Options Activities

The following outlines the movements of the Company's common share options:

11. Equity (continued)

11.5 Reserves (continued)

Share Options (continued)

 

 

Number of
options

 

Weighted Average
Exercise Price
($)

Balance at December 31, 2022

 

8,236,668

 

3.18

Granted

 

5,000

 

2.33

Exercised

 

(332,298)

 

1.04

Forfeited

 

(143,159)

 

1.04

Balance at December 31, 2023

 

7,766,211

 

3.31

Granted

 

2,094,450

 

1.24

Exercised

 

(25,544)

 

1.29

Forfeited

 

(111,342)

 

2.18

Balance at December 31, 2024

 

9,723,775

 

2.89

Granted

 

748,034

 

4.01

Exercised

 

(99,534)

 

1.68

Forfeited

 

(13,517)

 

2.46

Expired

 

(207,347)

 

2.40

Balance at December 31, 2025

 

10,151,411

 

2.99

Summary of Fair Value Assumptions

The fair values of the share options granted during the years ended December 31, 2025, 2024 and 2023, were estimated at the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions:

 

 

For the year ended

 

 

December 31, 2025

 

December 31, 2024

 

December 31, 2023

Risk-free interest rate

 

3.53%

 

4.11%

 

4.55%

Expected life (years)

 

2.88

 

2.88

 

1.37

Expected volatility

 

51.57%

 

55.88%

 

41.83%

Expected dividend yield

 

0.00%

 

0.00%

 

1.72%

Estimated forfeiture rate

 

0.93%

 

0.83%

 

13.33%

Disclosure of range of exercise prices of outstanding share options

A summary of share options outstanding and exercisable as at December 31, 2025, are as follows:

 

 

Options Outstanding

 

Options Exercisable

Exercise Price
($)

 

Number of Options Outstanding

 

Weighted Average Exercise Price
($)

 

Weighted Average Remaining Contractual Life
(years)

 

Number of Options exercisable

 

Weighted Average Exercise Price
($)

 

Weighted Average Remaining Contractual Life
(years)

1.00 to 1.99

 

3,755,405

 

1.28

 

2.47

 

3,232,025

 

1.28

 

2.23

2.00 to 2.99

 

2,283,455

 

2.58

 

1.92

 

2,283,455

 

2.58

 

1.92

3.00 to 3.99

 

17,514

 

3.06

 

1.39

 

17,514

 

3.06

 

1.39

4.00 to 4.99

 

1,590,037

 

4.46

 

2.73

 

1,029,012

 

4.71

 

1.51

5.00 and above

 

2,505,000

 

5.00

 

0.19

 

2,505,000

 

5.00

 

0.19

 

 

10,151,411

 

2.99

 

1.82

 

9,067,006

 

3.03

 

1.50