v3.25.2
SHARE BASED PAYMENTS (Tables)
 12 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
SCHEDULE OF OPTIONS TO PURCHASE SUBORDINATE VOTING SHARES

Options to purchase Subordinate Voting Shares have been granted to directors, employees, and consultants as follows:

 

Expiry date  Weighted Average Remaining Contractual Life in Years   Exercise Price (CAD$)  

Exercise Price

(USD$ equivalent) (1)

   Outstanding 
June 16, 2027   2.21    21.60    15.02    103,703 
September 16, 2027   2.46    27.00    18.78    19,072 
April 28, 2028   3.08    44.55    30.99    3,703 
December 15, 2028   3.71    32.91    22.89    352,615 
December 23, 2028   3.73    30.51    21.22    136,290 
April 15, 2029   4.04    30.78    21.41    9,071 
July 3, 2029   4.26    29.01    20.18    146,430 
    3.59    30.09    20.93    770,884 

 

(1)Converted at balance sheet rate.
SUMMARY OF STOCK OPTIONS

A summary of the Company’s stock options as at March 31, 2025, and changes for the years then ended is as follows:

 

   Number of stock options   Weighted Average Exercise Price (CAD$)  

Weighted Average

Exercise Price

(USD$ equivalent) (1)

 
Outstanding, March 31, 2023   258,516    21.68    15.08 
Granted   370,365    36.53    25.41 
Exercised   (86,547)   19.94    13.87 
Outstanding, March 31, 2024   542,334   $32.09   $22.32 
Granted   364,099    27.39    19.05 
Exercised   (51,235)   23.22    16.15 
Cancelled   (84,314)   35.37    24.60 
Outstanding, March 31, 2025   770,884    30.10    20.94 
Exercisable, March 31, 2025   511,487   $29.92   $20.81 

 

(1)Converted at balance sheet rate.
SCHEDULE OF THE BLACK-SCHOLES OPTION PRICING MODEL WITH THE FOLLOWING WEIGHTED AVERAGE ASSUMPTIONS

 

   CAD$   $ 
Share price at grant date  $30.51   $21.20 
Risk-free interest rate   3.04%   3.04%
Expected life   5 years    5 years 
Expected volatility   100%   100%
Expected forfeitures   0%   0%
Expected dividends   Nil    Nil 
Grant date fair value per option  $23.06   $16.02 

 
   CAD$   $ 
Share price at revaluation date  $23.25   $16.16 
Risk-free interest rate   2.61%   2.61%
Expected life   5 years    5 years 
Expected volatility   121.6%   122%
Expected forfeitures   0%   0%
Expected dividends   Nil    Nil 
Revaluation date fair value per option  $18.91   $13.14 

  
   CAD$   $ 
Share price at grant date  $14.31   $10.45 
Risk-free interest rate   3.07%   3.07%
Expected life   4.2 years    4.2 years 
Expected volatility   100.0%   100%
Expected forfeitures   0%   0%
Expected dividends   Nil    Nil 
Grant date fair value per option  $10.20   $7.45 

  

   CAD$   $ 
Share price at grant date  $28.89   $21.19 
Risk-free interest rate   3.57%   3.57%
Expected life   5 years    5 years 
Expected volatility   100.0%   100%
Expected forfeitures   0%   0%
Expected dividends   Nil    Nil 
Weighted average grant date fair value per option  $21.87   $16.04 

  
   CAD$   $ 
Share price at revaluation date  $23.25   $16.17 
Risk-free interest rate   2.47%   2.47%
Expected life   5 years    5 years 
Expected volatility   121.6%   121.6%
Expected forfeitures   0%   0%
Expected dividends   Nil    Nil 
Revaluation date fair value per option  $16.90   $11.75 

  
   CAD$   $ 
Share price at grant date  $30.78   $22.36 
Risk-free interest rate   3.77%   3.77%
Expected life   5 years    5 years 
Expected volatility   100%   100%
Expected forfeitures   0%   0%
Expected dividends   Nil    Nil 
Grant date fair value per option  $23.13   $16.81 

  

   CAD$   $ 
Share price at revaluation date  $23.25   $16.17 
Risk-free interest rate   2.47%   2.47%
Expected life   4.3 years    4.3 years 
Expected volatility   121.6%   121.6%
Expected forfeitures   0%   0%
Expected dividends   Nil    Nil 
Revaluation date fair value per option  $17.54   $12.20 

  
   CAD$   $ 
Share price at revaluation date  $23.25   $16.17 
Risk-free interest rate   2.47%   2.47%
Expected life   3.7 years    3.7 years 
Expected volatility   121.6%   121.6%
Expected forfeitures   0%   0%
Expected dividends   Nil    Nil 
Revaluation date fair value per option  $16.57   $11.53 

  

   CAD$   $ 
Share price at revaluation date  $23.25   $16.17 
Risk-free interest rate   2.47%   2.47%
Expected life   3.1 years    3.1 years 
Expected volatility   121.6%   121.6%
Expected forfeitures   0%   0%
Expected dividends   Nil    Nil 
Revaluation date fair value per option  $14.65   $10.19 

 
SCHEDULE OF RESTRICTED SHARES

A summary of the Company’s restricted shares units as at March 31, 2025, and changes for the years then ended is as follows:

   Number of RSUs 
Balance, March 31, 2023   18,519 
Issued, November 15, 2023   5,556 
Balance, March 31, 2024   24,075 
Issued, April 15, 2024   1,852 
Issued, June 20, 2024   37,037 
Issued, July 3, 2024   359,817 
Issued, September 13, 2024   74,074 
Issued, December 23, 2024   296,296 
Cancelled   (5,926)
Converted   (101,852)
Balance, March 31, 2025   685,373 
Exercisable, March 31, 2025   7,639 
SCHEDULE OF RECONCILIATION SHARE BASED PAYMENTS

A reconciliation of share based payments is as follows:

Share based payments  Stock Options   RSUs   Modification of broker’s warrants   Settlement agreement   Total 
Previous year graded vesting   473,109    -    -    -    473,109 
New grants Q1 2023   70,925    -    -    -    70,925 
New grants Q3 2023   6,390,644    127,400    -    -    6,518,044 
Modification of broker’s warrants   -    -    440,604    -    440,604 
Revaluation RSUs   -    148,636    -    -    148,636 
Settlement agreement   -    -    -    198,801    198,801 
Balance, March 31, 2024  $6,934,678   $276,036   $440,604   $198,801   $7,850,119 
                          
Previous years graded vesting   675,250    -    -    -    675,250 
Previous years RSUs revaluation   -    (231,386)   -    -    (231,386)
New grants Q1 2024   128,287    29,948    -    -    158,235 
New grants Q2 2024   1,542,912    3,049,516    -    -    4,592,428 
New grants Q3 2024   1,291,759    2,621,935    -    -    3,913,694 
Cancelled options / RSUs   (1,416,299)   (12,717)   -    -    (1,429,016)
Balance, March 31, 2025  $2,221,909   $5,457,296   $-   $-   $7,679,205