Share capital [Text Block] | 7. Share capital Authorized: unlimited common shares, no par value Number of shares Ascribed value November 30, 2016 105,286,469 136,357 Exercise of options 188,856 85 Restricted Share Units 209,198 83 November 30, 2017 105,684,523 136,525 Exercise of options 50,753 29 Restricted Share Units 800,000 457 February 28, 2018, issued and outstanding 106,535,276 137,011 On April 30, 2012, under the NovaGold Arrangement, Trilogy committed to issue up to 6,181,352 20,685 3,447 (a) Stock options During the period ended February 28, 2018, 2,125,000 1,595,000 1.04 0.70 0.37 For the period ended February 28, 2018, Trilogy recognized a stock-based compensation charge of $ 0.49 0.22 The fair value of the stock options recognized in the period has been estimated using the Black-Scholes option pricing model. Assumptions used in the pricing model for the period are as provided below. February 28, 2018 Risk-free interest rates 1.55 % Exercise price CAD$ 1.04 Expected life 3.0 years Expected volatility 77.6 % Expected dividends Nil As of February 28, 2018, there were 1,436,676 0.96 0.3 A summary of the Company’s stock option plan and changes during the period ended is as follows: February 28, 2018 Number of options Weighted average exercise price Balance beginning of period 7,127,500 0.54 Granted 2,125,000 0.81 Exercised (96,762) 0.68 Forfeited (25,000) 1.54 Balance end of period 9,130,738 0.60 The following table summarizes information about the stock options outstanding at February 28, 2018. Outstanding Exercisable Unvested Range of price Number of outstanding options Weighted average years to expiry Weighted average exercise price Number of exercisable options Weighted average exercise price Number of unvested options $0.34 to $0.50 4,209,071 2.45 0.40 4,209,071 0.40 $0.51 to $1.00 4,746,667 3.65 0.75 3,379,991 0.76 1,366,676 $1.01 to $1.49 175,000 4.09 1.20 105,000 1.26 70,000 9,130,738 3.10 0.60 7,694,062 0.57 1,436,676 The aggregate intrinsic value of vested share options (the market value less the exercise price) at February 28, 2018 was $ 6.9 0.2 0.06 0.01 (b) Restricted Share Units and Deferred Share Units The Company has a Restricted Share Unit Plan (“RSU Plan”) and a Non-Executive Director Deferred Share Unit Plan (“DSU Plan”) to provide long-term incentives to employees, officers and directors. Award under the RSU Plan and DSU Plan may be settled in cash and/or common shares of the Company at the Company’s election with each restricted share unit (“RSU”) and deferred share unit (“DSU”) entitling the holder to receive one common share of the Company or equivalent value. All units are accounted for as equity-settled awards. Number of RSUs Number of DSUs Balance beginning of period 600,002 1,041,231 Granted 600,000 95,398 Vested/paid (800,000) - Balance end of period 400,002 1,136,629 For the three months ended February 28, 2018, Trilogy recognized a stock-based compensation charge of $ 0.44 0.17 As part of the annual incentive payout for the 2017 fiscal year, 300,000 300,000 800,000 800,000 (c) Share Purchase Warrants Number of Warrants Weighted average years to expiry Weighted average exercise price Balance beginning of period 6,521,740 1.60 1.60 Balance end of period 6,521,740 1.40 1.60 |