Common Shares (Tables)
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9 Months Ended |
Mar. 31, 2026 |
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| Equity [Abstract] |
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| Schedule Of Stock Option |
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Number of
Options |
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Weighted
Average
Exercise
Price |
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Aggregate
Intrinsic
Value |
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Weighted
Average
Remaining
Life |
Balance, June 30, 2025 |
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3,020,000 |
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$ |
3.09 |
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Granted |
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2,282,500 |
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4.68 |
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Exercised |
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(450,000 |
) |
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3.48 |
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Cancelled/expired |
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(455,000 |
) |
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6.95 |
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Balance, March 31, 2026 |
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4,397,500 |
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$ |
3.48 |
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$ |
5,031 |
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3.8 |
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| Schedule of Warrant Transactions |
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Number of
Warrants |
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Weighted
Average
Exercise
Price |
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Balance, June 30, 2025 |
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29,985,922 |
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$ |
7.06 |
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Granted |
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11,280,260 |
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0.0001 |
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Exercised |
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(21,914,515 |
) |
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0.96 |
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Expired |
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(250,000 |
) |
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4.60 |
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Balance, March 31, 2026 |
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19,101,667 |
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$ |
9.78 |
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| Schedule of Outstanding Exercisable Warrants |
As of March 31, 2026, the Company had outstanding exercisable Warrants, as follows:
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Number |
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Exercise
Price |
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Expiry Date |
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279,000 |
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$ |
1.75 |
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November 5, 2026 |
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1,503,036 |
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1.75 |
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November 13, 2026 |
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15,666,526 |
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(1) |
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11.50 |
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March 17, 2028 |
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666,742 |
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2.31 |
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September 17, 2028 |
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217,295 |
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2.07 |
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November 5, 2029 |
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769,068 |
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2.07 |
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November 13, 2029 |
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19,101,667 |
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(1) |
Includes 13,447,105 and 2,219,421 2023 Public Warrants and 2023 Private Warrants, respectively, as defined below. Each 2023 Public Warrant and 2023 Private Warrant is exercisable into 1.11829212 Common Shares. |
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| Schedule of 2023 Private Warrants using a Black-Scholes pricing model |
The following observable data points were used in calculating the fair value of the 2023 Private Warrants using a Black-Scholes pricing model:
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March 31,
2026 |
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June 30,
2025 |
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Closing Common Share price |
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$ |
4.46 |
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$ |
2.33 |
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Implied volatility of our publicly traded Warrants |
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121.0 |
% |
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90.0 |
% |
Risk-free rate |
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3.80 |
% |
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3.70 |
% |
Dividend yield |
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0 |
% |
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0 |
% |
Expected warrant life in years |
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2.0 |
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2.7 |
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| Schedule of change in 2023 Private Warrants liability |
The change in the 2023 Private Warrants liability is presented below:
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For the Nine Months
Ended March 31, 2026 |
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Fair value as of June 30, 2025 |
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$ |
2,532 |
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Fair value adjustment for warrants exchanged |
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1,217 |
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Exchange of warrants |
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(2,501 |
) |
Change in fair value |
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3,440 |
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Fair value as of March 31, 2026 |
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$ |
4,688 |
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| Schedule of change in the April 2024 Warrant liability |
The change in the April 2024 Warrant liability is presented below:
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For the Nine Months
Ended March 31, 2026 |
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Fair value as of June 30, 2025 |
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$ |
489 |
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Fair value adjustment for warrants exercised |
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1,318 |
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Exercise of warrants |
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(1,807 |
) |
Fair value as of March 31, 2026 |
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$ |
— |
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| Schedule of November 2024 Private Warrants using a Black-Scholes Pricing Model |
The Company classifies the November 2024 Private Warrants as Level 2 instruments under the fair value hierarchy as inputs into our pricing model are based on observable data points. The following observable data points were used in calculating the fair value of the November 2024 Private Warrants using a Black-Scholes pricing model:
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Series A Private Warrants |
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Series B Private Warrants |
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March 31,
2026 |
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June 30,
2025 |
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March 31,
2026 |
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June 30,
2025 |
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Closing Common Share price |
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$ |
4.46 |
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$ |
2.33 |
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$ |
4.46 |
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$ |
2.33 |
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Historic equity volatility |
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90.58 |
% |
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86.14 |
% |
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80.17 |
% |
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74.26 |
% |
Risk-free rate |
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3.74 |
% |
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3.88 |
% |
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3.86 |
% |
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3.77 |
% |
Expected warrant life in years |
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0.62 |
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1.37 |
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3.62 |
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4.38 |
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| Schedule of Change in Fair Value of November 2024 Private Warrants |
The change in the fair value of the November 2024 Private Warrants is shown below:
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For the Nine Months
Ended March 31, 2026 |
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Fair value as of June 30, 2025 |
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$ |
3,831 |
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Fair value adjustment for warrants exercised |
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1,702 |
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Exercise of warrants |
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(4,743 |
) |
Change in fair value |
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5,993 |
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Fair value as of March 31, 2026 |
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$ |
6,783 |
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| Schedule of issued Common Shares under the Yorkville Equity Facility Financing Agreement |
The Company issued the following Common Shares under the Standby Equity Purchase Agreement, dated January 26, 2023 (the “Yorkville Equity Facility Financing Agreement”) between the Company and Yorkville during the three- and nine-month periods presented below:
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For the Three Months Ended March 31, |
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For the Nine Months Ended March 31, |
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2026 |
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2025 |
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2026 |
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2025 |
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Common Shares issued |
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4,527,662 |
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709,000 |
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5,727,662 |
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1,919,250 |
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Gross funds received |
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$ |
31,146 |
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$ |
1,286 |
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$ |
38,710 |
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$ |
3,111 |
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Market value of Common Shares issued |
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31,634 |
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1,328 |
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39,434 |
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3,191 |
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Loss on issuance |
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488 |
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42 |
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724 |
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80 |
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