Note 14 - US Warrants |
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| Disclosure representing warrants [text block] |
2026 Warrants
On April 3 and April 14, 2025, the Company issued 3,125,000 (“2026 Warrants”) to subscribers in a non-brokered private placement (Note 16). The warrant exercise price is denominated in US dollars, a currency different than the Company’s functional currency. Therefore, the warrants were classified as a financial liability in the consolidated statements of financial position. The fair value of the warrants was estimated using the Black Scholes Option Pricing Model using the following main inputs: volatility of 85% on issuance date, 61.79% - 121.59% on exercise dates, and 125.0% - 127.6% on December 31, 2025, share price of $1.38 - $1.50 on issuance date, $1.37 - $6.55 on exercise dates, and $1.11 on December 31, 2025 and risk free rate of 2.40% - 2.58% on issuance date, 2.38% - 2.48% on exercise date, and 2.55% December 31, 2025 respectively.
The table below presents changes in 2026 Warrants during the year ended December 31, 2025:
The changes in fair value amounting to $8,112 was included in changes in fair value of US warrants in the consolidated statement of loss and other comprehensive loss.
Pre-Funded Warrants
The table below presents changes in Pre-Funded Warrants during the year ended December 31, 2025:
The changes in fair value amounting to $(36,698) was included in changes in fair value of US warrants in the consolidated statement of loss and other comprehensive loss.
New Equity Offering Warrants
The table below presents changes in New Equity Offering Warrants during the year ended December 31, 2025:
The changes in fair value amounting to $(46,006) was included in changes in fair value of US warrants in the consolidated statement of loss and other comprehensive loss.
2028 Warrants
The table below presents changes in 2028 Warrants during the year ended December 31, 2025:
On October 22, 2025, the Company cancelled the previously issued 2028 Warrants as part of the Exchange Agreement transaction.
The changes in fair value amounting to $182 was included in changes in fair value of US warrants in the consolidated statement of loss and other comprehensive loss.
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