Disclosure of share capital, reserves and other equity interest [text block] | 9. Share capital and reserves (a) Authorized share capital At December 31, 2020, not (b) Details of private placements and other issues of common shares in 2020, 2019 2018 Share issue costs of $40,990 February 25, 2021. On August 6, 2020, 3,100,000 $0.65 $2,015,000. one one one $0.90 August 6, 2023. $52,341 $108,674 On March 27, 2020, 5,509,658 $0.37 $2,038,573. one one one $0.50 March 27, 2023. $42,349 On June 7, 2018, 9,440,000 $1.00 $9,440,000. one one one one $1.35 June 7, 2022. October 8, 2018, $2.00 20 20th may 30th three $384,900 192,450 $1.35 June 7, 2020. $36,566 $216,659 (c) Warrants The continuity of warrants for the years ended December 31, 2020, 2019 2018 Exercise December 31, December 31, Expiry date price 2019 Issued Exercised Expired 2020 June 1, 2020 $ 2.45 4,928,900 - - (4,928,900 ) - June 7, 2020 $ 1.35 192,450 - - (192,450 ) - June 7, 2022 $ 1.35 4,720,000 - - - 4,720,000 March 27, 2023 $ 0.50 - 5,509,658 (20,000 ) - 5,489,658 August 6, 2023 $ 0.90 - 3,100,000 - - 3,100,000 May 14, 2024 $ 1.50 500,000 - - - 500,000 Warrants outstanding and exercisable 10,341,350 8,609,658 (20,000 ) (5,121,350 ) 13,809,658 Weighted average exercise price $ 1.88 $ 0.64 $ 0.50 $ 2.41 $ 0.92 The weighted average remaining life of warrants outstanding at December 31, 2020 2.08 2019 1.53 Exercise December 31, December 31, Expiry date price 2018 Issued Exercised Expired 2019 June 1, 2019 $ 2.00 295,734 - - (295,734 ) - August 7, 2019 $ 2.00 1,259,704 - - (1,259,704 ) - August 7, 2019 $ 1.35 10,411 - - (10,411 ) - June 1, 2020 $ 2.45 4,928,900 - - - 4,928,900 June 7, 2020 $ 1.35 192,450 - - - 192,450 June 7, 2022 $ 1.35 4,720,000 - - - 4,720,000 May 14, 2024 $ 1.50 - 500,000 - - 500,000 Warrants outstanding and exercisable 11,407,199 500,000 - (1,565,849 ) 10,341,350 Weighted average exercise price $ 1.91 $ 1.50 - $ 2.00 $ 1.88 The weighted average remaining life of warrants outstanding at December 31, 2019 1.53 2018 2.14 Exercise December 31, December 31, Expiry date price 2017 Issued Exercised Expired 2018 November 25, 2018 $ 2.00 1,614,541 - - (1,614,541 ) - November 25, 2018 $ 1.44 22,972 - - (22,972 ) - June 1, 2019 $ 2.00 295,734 - - - 295,734 August 7, 2019 $ 2.00 1,259,704 - - - 1,259,704 August 7, 2019 $ 1.35 10,411 - - - 10,411 June 1, 2020 $ 2.45 4,928,900 - - - 4,928,900 June 7, 2020 $ 1.35 - 192,450 - - 192,450 June 7, 2022 $ 1.35 - 4,720,000 - - 4,720,000 Warrants outstanding and exercisable 8,132,262 4,912,450 - (1,637,513 ) 11,407,199 Weighted average exercise price $ 2.27 $ 1.35 - $ 1.99 $ 1.91 The weighted average remaining life of warrants outstanding at December 31, 2018 2.14 2017 1.95 The weighted average fair value of finders' warrants granted during the years ended December 31, 2020, 2019 2018 Weighted average assumptions used Number of Date of issue Fair value per share Risk free interest rate Expected life (in years) Expected volatility Expected dividends 500,000 May 14, 2019 $ 0.10 1.54 % 5 44.25 % $Nil 192,450 June 7, 2018 $ 0.19 1.94 % 2 54.02 % $Nil (d) Share purchase option compensation plan The Company's stock option plan permits the issuance of options up to a maximum of 10% 2% twelve December 31, 2020, 523,025 may five The maximum term of all options is five five may no 25% three December 31, 2020, 2019 2018 The Company's stock option plan permits the option holder to exercise cashless by surrendering a portion of the underlying option shares to pay for the exercise price and the corresponding withholding taxes, if applicable. The continuity of stock options for the years ended December 31, 2020, 2019 2018 Expiry date Exercise price December 31, Granted Exercised Expired December 31, April 10, 2020 $ 1.03 90,000 - - (90,000 ) - April 30, 2020 $ 1.53 500,000 - - (500,000 ) - April 30, 2020 $ 1.14 100,000 - - (100,000 ) - April 30, 2020 $ 1.04 100,000 - - (100,000 ) - June 8, 2020 $ 0.98 2,180,000 - - (2,180,000 ) - September 30, 2020 $ 1.25 1,095,000 - (25,000 ) (1,070,000 ) - September 30, 2020 $ 0.83 106,000 - (106,000 ) (i) - - September 30, 2020 $ 0.79 170,000 - (150,000 ) (i) (20,000 ) - December 13, 2020 $ 0.86 762,000 - (635,000 ) (i) (127,000 ) - February 7, 2021 $ 1.11 300,000 - - - 300,000 February 7, 2021 $ 0.84 425,000 - - - 425,000 March 29, 2021 $ 1.08 400,000 - - - 400,000 March 29, 2021 $ 0.90 100,000 - - - 100,000 May 6, 2021 $ 0.69 557,000 - - - 557,000 July 7, 2021 $ 0.80 1,612,000 - - - 1,612,000 August 13, 2021 $ 1.01 150,000 - - - 150,000 September 16, 2021 $ 0.90 1,160,000 - - (5,000 ) 1,155,000 December 12, 2021 $ 1.00 200,000 - - - 200,000 March 4, 2022 $ 0.47 - 1,130,000 (5,000 ) - 1,125,000 April 30, 2022 $ 0.41 - 115,000 (15,000 ) - 100,000 April 30, 2022 $ 0.58 - 220,000 - - 220,000 May 31, 2022 $ 0.62 - 700,000 - - 700,000 June 9, 2022 $ 0.64 - 2,180,000 - - 2,180,000 October 3, 2022 $ 1.13 - 1,346,000 - - 1,346,000 December 15, 2022 $ 0.89 - 972,000 - - 972,000 Options outstanding and exercisable 10,007,000 6,663,000 (936,000 ) (4,192,000 ) 11,542,000 Weighted average exercise price $ 0.97 $ 0.74 $ 0.85 $ 1.12 $ 0.80 (i) In accordance with the Company's stock option plan, options holders exercised 100,000, 68,000 580,000 $0.79, $0.83 $0.86 105,877. The weighted average remaining life of stock options outstanding at December 31, 2020 1.08 2019 1.02 Expiry date Exercise price December 31, 2018 Granted Exercised Expired December 31, 2019 January 2, 2019 $ 1.04 375,000 - - (375,000 ) - March 17, 2019 $ 1.35 207,000 - - (207,000 ) - May 4, 2019 $ 1.99 175,000 - - (175,000 ) - May 19, 2019 $ 1.84 75,000 - - (75,000 ) - June 12, 2019 $ 1.89 75,000 - - (75,000 ) - July 2, 2019 $ 1.32 150,000 - - (150,000 ) - July 2, 2019 $ 1.19 60,000 - - (60,000 ) - July 2, 2019 $ 1.34 1,427,000 - - (1,427,000 ) - September 19, 2019 $ 1.40 1,160,000 - - (1,160,000 ) - April 10, 2020 $ 1.03 90,000 - - - 90,000 April 30, 2020 $ 1.53 500,000 - - - 500,000 April 30, 2020 $ 1.14 100,000 - - - 100,000 April 30, 2020 $ 1.04 100,000 - - - 100,000 June 8, 2020 $ 0.98 2,180,000 - - - 2,180,000 September 30, 2020 $ 1.25 1,095,000 - - - 1,095,000 September 30, 2020 $ 0.83 106,000 - - - 106,000 September 30, 2020 $ 0.79 170,000 - - - 170,000 December 13, 2020 $ 0.86 762,000 - - - 762,000 February 7, 2021 $ 1.11 300,000 - - - 300,000 February 7, 2021 $ 0.84 - 425,000 - - 425,000 March 29, 2021 $ 1.08 400,000 - - - 400,000 March 29, 2021 $ 0.90 - 100,000 - - 100,000 May 6, 2021 $ 0.69 - 557,000 - - 557,000 July 7, 2021 $ 0.80 - 1,612,000 - - 1,612,000 August 13, 2021 $ 1.01 - 150,000 - - 150,000 September 16, 2021 $ 0.90 - 1,160,000 - - 1,160,000 December 12, 2021 $ 1.00 200,000 - - - 200,000 Options outstanding and exercisable 9,707,000 4,004,000 - (3,704,000 ) 10,007,000 Weighted average exercise price $ 1.19 $ 0.83 - $ 1.38 $ 0.97 The weighted average remaining life of stock options outstanding at December 31, 2019 1.02 2018 1.24 Expiry date Exercise price December 31, 2017 Granted Exercised Expired December 31, 2018 April 4, 2018 $ 1.74 90,000 - - (90,000 ) - May 6, 2018 $ 1.41 100,000 - - (100,000 ) - June 8, 2018 $ 1.44 1,915,000 - - (1,915,000 ) - June 18, 2018 $ 1.46 250,000 - - (250,000 ) - June 29, 2018 $ 1.71 15,000 - - (15,000 ) - August 9, 2018 $ 1.91 491,000 - - (491,000 ) - September 15, 2018 $ 1.85 170,000 - - (170,000 ) - December 11, 2018 $ 0.72 590,000 - (575,000 ) (i) (15,000 ) - December 11, 2018 $ 1.68 150,000 - - (150,000 ) - December 11, 2018 $ 1.80 20,000 - - (20,000 ) - January 2, 2019 $ 1.04 375,000 - - - 375,000 March 17, 2019 $ 1.35 207,000 - - - 207,000 May 4, 2019 $ 1.99 175,000 - - - 175,000 May 19, 2019 $ 1.84 75,000 - - - 75,000 June 12, 2019 $ 1.89 75,000 - - - 75,000 July 2, 2019 $ 1.32 150,000 - - - 150,000 July 2, 2019 $ 1.19 60,000 - - - 60,000 July 2, 2019 $ 1.34 1,427,000 - - - 1,427,000 September 19, 2019 $ 1.40 1,160,000 - - - 1,160,000 April 10, 2020 $ 1.03 - 90,000 - - 90,000 April 30, 2020 $ 1.53 500,000 - - - 500,000 April 30, 2020 $ 1.14 100,000 - - - 100,000 April 30, 2020 $ 1.04 - 100,000 - - 100,000 June 8, 2020 $ 0.98 - 2,180,000 - - 2,180,000 September 30, 2020 $ 1.25 1,195,000 - - (100,000 ) 1,095,000 September 30, 2020 $ 0.83 - 106,000 - - 106,000 September 30, 2020 $ 0.79 - 170,000 - - 170,000 December 13, 2020 $ 0.86 - 762,000 - - 762,000 February 7, 2021 $ 1.11 - 300,000 - - 300,000 March 29, 2021 $ 1.08 - 400,000 - - 400,000 December 12, 2021 $ 1.00 - 200,000 - - 200,000 Options outstanding and exercisable 9,290,000 4,308,000 (575,000 ) (3,316,000 ) 9,707,000 Weighted average exercise price $ 1.39 $ 0.97 $ 0.72 $ 1.54 $ 1.19 (j) In accordance with the Company's stock option plan, options holders exercised 552,000 $0.72. 64,094. The weighted average remaining life of stock options outstanding at December 31, 2018 1.24 2017 1.33 The fair value of options granted during the years ended December 31, 2020, 2019 2018, Number of options Date of grant Fair value per share Risk free interest rate Expected life (in years) Expected Expected 972,000 December 15, 2020 $ 0.35 0.25 % 2 76.39 % $Nil 1,346,000 October 1, 2020 $ 0.35 0.24 % 2 65.81 % $Nil 2,180,000 June 9, 2020 $ 0.25 0.28 % 2 62.07 % $Nil 700,000 May 1, 2020 $ 0.20 0.30 % 2 61.30 % $Nil 220,000 April 29, 2020 $ 0.22 0.32 % 2 61.31 % $Nil 115,000 April 13, 2020 $ 0.12 0.33 % 2 60.60 % $Nil 1,130,000 March 4, 2020 $ 0.20 0.92 % 2 55.66 % $Nil 1,160,000 September 16, 2019 $ 0.29 1.60 % 2 50.73 % $Nil 150,000 August 13, 2019 $ 0.28 1.35 % 2 50.20 % $Nil 1,612,000 July 4, 2019 $ 0.19 1.58 % 2 45.82 % $Nil 557,000 May 6, 2019 $ 0.17 1.59 % 2 45.42 % $Nil 100,000 March 1, 2019 $ 0.22 1.68 % 2 50.79 % $Nil 425,000 January 3, 2019 $ 0.31 1.91 % 2 50.28 % $Nil 762,000 December 13, 2018 $ 0.24 1.89 % 2 49.38 % $Nil 200,000 December 12, 2018 $ 0.28 2.06 % 3 49.50 % $Nil 170,000 September 26, 2018 $ 0.25 2.19 % 2 47.93 % $Nil 106,000 August 15, 2018 $ 0.21 2.09 % 2 48.39 % $Nil 2,180,000 June 18, 2018 $ 0.29 1.85 % 2 51.53 % $Nil 100,000 May 7, 2018 $ 0.33 1.95 % 2 55.21 % $Nil 90,000 April 10, 2018 $ 0.31 1.85 % 2 55.18 % $Nil 400,000 March 29, 2018 $ 0.42 1.94 % 3 55.10 % $Nil 300,000 February 7, 2018 $ 0.48 1.99 % 3 64.14 % $Nil Total share-based payments expenses as a result of options granted and vested during the year ended December 31, 2020 $1,784,500 2019 $933,120; 2018 $1,308,740 |