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SHARE BASED COMPENSATION
 3 Months Ended
Mar. 31, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
SHARE-BASED COMPENSATION [Text Block]

10. SHARE BASED COMPENSATION

Compensation expense for share-based awards was $328,993 during the three months ended March 31, 2023 (March 31, 2022 - $1,290,143). These amounts are included in general and administrative expense in the condensed consolidated statements of operations and comprehensive income (loss). The activity and assumptions for the share-based compensation plans are included below.

Share purchase options

The options outstanding under this plan are as follows:

    Stock options   Weighted-     Weighted average     Aggregate  
    outstanding     average     remaining     Intrinsic  
        exercise price     contractual term     Value  
                (years)        
Outstanding, January 1, 2023   2,834,288   $ 3.56              
Granted   -     -              
Forfeited   -     -              
Expired   -     -              
Exercised   -     -              
Outstanding, March 31, 2023   2,834,288   $ 3.56     8.71     -  
Exercisable, March 31, 2023   1,803,985   $ 3.56     8.71     -  

The Company incurred share-based compensation expense related to the stock options of $120,760 during the three months ended March 31, 2023 (March 31, 2022 - $517,743). As of March 31, 2023, the Company had $959,670 of unrecognized compensation expense related to non-vested stock options. The remaining expense is expected to be recognized over a weighted average period of approximately 0.79 years.

Restricted Share Units ("RSUs")

As of March 31, 2023, the Company's nonvested RSUs outstanding are as follows:

                Weighted average     Aggregate  
        Weighted-     remaining     Intrinsic  
    Restricted   average grant     contractual term     Value  
    Share Units   date fair value     (years)        
Nonvested, January 1, 2023   82,500  

$

 5.75              
Granted   -     -              
Forfeited   -     -              
Vested and settled   -     -              
Nonvested, March 31, 2023   82,500   $ 5.75     0.42   $ 74,250  

The Company incurred share-based compensation expense related to the RSUs of $93,217 during the three months ended March 31, 2023 (March 31, 2022 - $512,993). As of March 31, 2023, the Company had $159,506 of unrecognized compensation expense related to non-vested RSUs. The expense is expected to be recognized over a weighted average period of approximately 0.42 years.

Deferred Share Units ("DSUs")

As of March 31, 2023, the Company's DSUs outstanding are as follows:

                Weighted average     Aggregate  
        Weighted-     remaining     Intrinsic  
    Deferred   average grant     contractual term     Value  
    Share Units   date fair value     (years)        
Outstanding, January 1, 2023   226,335  

$

 4.42              
Granted   -     -              
Forfeited   (5,637 )   5.75              
Settled   -     -              
Outstanding, March 31, 2023   220,698   $ 4.38     0.17   $ 198,628  
Vested, March 31, 2023   154,612   $ 3.80     N/A   $ 139,151  

The Company incurred share-based compensation expense related to the DSUs of $115,016 during the three months ended March 31, 2023 (March 31, 2022 - $259,407). As of March 31, 2023, the Company had $64,371 of unrecognized compensation expense related to non-vested DSUs. The expense is expected to be recognized within one year of grant.