Equity (Tables)
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12 Months Ended |
Dec. 31, 2022 |
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| Share-Based Payment Arrangements [Abstract] |
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| Schedule of Share-Based Compensation |
| | | | | | | | | | | | | Share-based compensation | December 31, 2022 | | December 31, 2021 | | Option Expense | $ | 6,101 | | | $ | 6,093 | | | DSU Expense | 529 | | | 672 | | | RSU Expense | 2,778 | | | 2,904 | | | Total share-based compensation | $ | 9,408 | | | $ | 9,669 | |
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| Schedule of Classes of Share Capital |
| | | | | | | Shares Transacted | 14,870,000 | | | Average Share Price | $ | 37.00 | | | Gross offering proceeds | $ | 550,190 | | | Less: Underwriting expenses | (22,186) | | | Less: Other financing expenses | (713) | | | Net offering proceeds | $ | 527,291 | |
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| Schedule of Number and Weighted Average Exercise Prices of Share Options |
As at December 31, options outstanding from the consolidated share option plan were as follows: | | | | | | | | | | | | | Balance | Options for common shares | | Weighted average exercise price | | At January 1, 2021 | 4,149,639 | | | $ | 7.07 | | | Options granted | 540,116 | | | 21.12 | | | Options exercised | (549,281) | | | 4.33 | | | Options forfeited | (98,907) | | | 10.09 | | | Options expired | — | | | — | | | At December 31, 2021 | 4,041,567 | | | 8.70 | | | Options granted | 1,263,685 | | | 8.97 | | | Options exercised | (304,635) | | | 2.87 | | | Options forfeited | (184,496) | | | 12.75 | | | Options expired | (8,501) | | | 2.20 | | | At December 31, 2022 | 4,807,620 | | | $ | 9.00 | |
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| Schedule of Number and Weighted Average Remaining Contractual Life of Outstanding Share Options |
The following table summarizes information about the Corporation’s share options outstanding as at December 31, 2022: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Options outstanding | | Options exercisable | | Number | | Weighted average
remaining
contractual life | | Weighted
average
exercise | | Number | | Weighted
average | | Range of exercise price | outstanding | | (years) | | price | | exercisable | | exercise price | $1.33 - $3.06 | 1,174,815 | | | 2.6 | | $ | 2.69 | | | 1,174,815 | | | $ | 2.69 | | $3.56 - $5.50 | 484,493 | | | 3.3 | | 4.04 | | | 389,085 | | | 3.68 | | $6.92 - $10.64 | 2,226,069 | | | 5.2 | | 9.87 | | | 721,156 | | | 10.51 | | $12.63 - $26.13 | 922,243 | | | 5.1 | | 17.53 | | | 455,966 | | | 16.66 | | | 4,807,620 | | | 4.3 | | $ | 9.00 | | | 2,741,022 | | | $ | 7.21 | |
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| Schedule of Range of Exercise Prices of Outstanding Share Options |
The following table summarizes information about the Corporation’s share options outstanding as at December 31, 2022: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Options outstanding | | Options exercisable | | Number | | Weighted average
remaining
contractual life | | Weighted
average
exercise | | Number | | Weighted
average | | Range of exercise price | outstanding | | (years) | | price | | exercisable | | exercise price | $1.33 - $3.06 | 1,174,815 | | | 2.6 | | $ | 2.69 | | | 1,174,815 | | | $ | 2.69 | | $3.56 - $5.50 | 484,493 | | | 3.3 | | 4.04 | | | 389,085 | | | 3.68 | | $6.92 - $10.64 | 2,226,069 | | | 5.2 | | 9.87 | | | 721,156 | | | 10.51 | | $12.63 - $26.13 | 922,243 | | | 5.1 | | 17.53 | | | 455,966 | | | 16.66 | | | 4,807,620 | | | 4.3 | | $ | 9.00 | | | 2,741,022 | | | $ | 7.21 | |
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| Schedule of Indirect Measurement of Fair Value of Goods or Services Received, Share Options Granted During Period |
The fair values of the options granted were determined using the Black-Scholes valuation model under the following weighted average assumptions: | | | | | | | | | | | | | 2022 | | 2021 | | Expected life | 4 years | | 4 years | | Expected dividends | Nil | | Nil | | Expected volatility | 69 | % | | 67 | % | | Risk-free interest rate | 2 | % | | 1 | % |
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| Schedule of Number and Weighted Average Exercise Prices of Other Equity Instruments |
| | | | | | | Balance | DSUs for common shares | | At January 1, 2021 | 820,031 | | | DSUs granted | 35,953 | | | DSUs exercised | (99,761) | | | At December 31, 2021 | 756,223 | | | DSUs granted | 80,319 | | | DSUs exercised | (126,862) | | | At December 31, 2022 | 709,680 | |
| | | | | | | Balance | RSUs for common shares | | At January 1, 2021 | 1,129,946 | | | RSUs granted | 195,838 | | | RSU performance factor adjustment | (12,128) | | | RSUs exercised | (325,863) | | | RSUs forfeited | (21,573) | | | At December 31, 2021 | 966,220 | | | RSUs granted | 567,693 | | | RSU performance factor adjustment | (29,004) | | | RSUs exercised | (460,681) | | | RSUs forfeited | (42,148) | | | At December 31, 2022 | 1,002,080 | |
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