| Summary of Issuances of Stock Other |
During the year ended March 31, 2026, the Company issued the following common shares, net of share issuance costs, as a result of business combinations, milestones being met, and other equity-settled transactions:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of common shares |
|
|
Share
capital |
|
|
Share and
warrant
reserve |
|
Other issuances and share issue costs |
|
|
30,375 |
|
|
$ |
(6,750 |
) |
|
$ |
- |
|
Total |
|
|
30,375 |
|
|
$ |
(6,750 |
) |
|
$ |
- |
|
During the year ended March 31, 2025, the Company issued the following common shares, net of share issuance costs, as a result of business combinations, milestones being met, and other equity-settled transactions:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of common shares |
|
|
Share
capital |
|
|
Share
based
reserve |
|
Settlement of Acreage Acquisition |
|
|
12,559,952 |
|
|
$ |
63,919 |
|
|
$ |
11,939 |
|
Other issuances and share issue costs |
|
|
- |
|
|
|
(10,245 |
) |
|
|
- |
|
Total |
|
|
12,559,952 |
|
|
$ |
53,674 |
|
|
$ |
11,939 |
|
During the year ended March 31, 2024, the Company issued the following common shares, net of share issuance costs, as a result of business combinations, milestones being met, and other equity-settled transactions:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of common shares |
|
|
Share
capital |
|
|
Share
based
reserve |
|
Settlement of convertible debentures |
|
|
8,445,894 |
|
|
$ |
108,055 |
|
|
$ |
- |
|
Settlement of 4.25% unsecured senior notes |
|
|
11,477,366 |
|
|
|
57,084 |
|
|
|
- |
|
Settlement of debentures |
|
|
7,341,818 |
|
|
|
87,754 |
|
|
|
- |
|
Other issuances and share issue costs |
|
|
6,165 |
|
|
|
(317 |
) |
|
|
(80 |
) |
Total |
|
|
27,271,243 |
|
|
$ |
252,576 |
|
|
$ |
(80 |
) |
|
| Summary of Warrants |
The following is a summary of the Company’s liability classified warrant activity during the years ended March 31, 2024, 2025 and 2026:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of
whole
warrants |
|
|
Weighted average exercise price |
|
|
Weighted average remaining life (years) |
|
Balance outstanding at March 31, 20231 |
|
|
- |
|
|
$ |
- |
|
|
|
- |
|
Issuance of warrants from private placement |
|
|
10,451,457 |
|
|
|
5.51 |
|
|
|
5.11 |
|
Balance outstanding at March 31, 2024 |
|
|
10,451,457 |
|
|
$ |
5.51 |
|
|
|
5.03 |
|
Issuance of warrants |
|
|
1,197,658 |
|
|
|
5.17 |
|
|
|
4.49 |
|
Issuance of replacement warrants resulting from the Acreage Acquisition |
|
|
1,845,843 |
|
|
|
10.53 |
|
|
|
4.30 |
|
Exercise of warrants |
|
|
(1,279,660 |
) |
|
|
6.60 |
|
|
|
- |
|
Expiry of warrants |
|
|
(82,148 |
) |
|
|
125.60 |
|
|
|
- |
|
Balance outstanding at March 31, 2025 |
|
|
12,133,150 |
|
|
$ |
5.59 |
|
|
|
4.09 |
|
Issuance of warrants |
|
|
18,705,578 |
|
|
|
1.80 |
|
|
|
5.00 |
|
Balance outstanding at March 31, 2026 |
|
|
30,838,728 |
|
|
$ |
3.23 |
|
|
|
4.11 |
|
1 This balance excludes warrants previously issued by the Company to CBG (as defined below) which were exercisable to acquire 1,281,815 common shares at an exercise price equal to the 5-day volume-weighted average price of the Company common shares immediately prior to exercise (the “Tranche C Warrants”). The Tranche C Warrants represent a derivative liability and have nominal value. As of November 1, 2023, the Tranche C Warrants are considered expired in accordance with their terms. The following is a summary of the Company’s liability classified warrant balances during the years ended March 31, 2024, 2025 and 2026:
|
|
|
|
|
|
|
Warrant derivative liability |
|
Fair value as of March 31, 2023 |
|
$ |
- |
|
Initial measurement upon issuance of warrants |
|
|
62,616 |
|
Fair value change |
|
|
37,325 |
|
Fair value as of March 31, 2024 |
|
$ |
99,941 |
|
Initial measurement upon issuance of warrants |
|
|
4,828 |
|
Initial measurement upon issuance of replacement warrants resulting from the Acreage Acquisition |
|
|
7,111 |
|
Exercise of warrants |
|
|
(13,996 |
) |
Fair value change |
|
|
(89,237 |
) |
Balance outstanding at March 31, 2025 |
|
$ |
8,647 |
|
Issuance of warrants |
|
|
27,571 |
|
Fair value change |
|
|
(8,696 |
) |
Balance outstanding at March 31, 2026 |
|
$ |
27,522 |
|
The following is a summary of the Company’s equity classified warrant activity during the years ended March 31, 2024, 2025 and 2026:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of
whole
warrants |
|
|
Weighted average exercise price |
|
|
Weighted average remaining life (years) |
|
|
Warrant reserve |
|
|
|
|
|
|
|
|
|
|
|
|
(As Restated) |
|
Balance outstanding at March 31, 2023 |
|
|
12,819,305 |
|
|
$ |
580.38 |
|
|
|
1.49 |
|
|
$ |
2,581,788 |
|
Expiry of warrants |
|
|
(12,819,305 |
) |
|
|
580.38 |
|
|
|
- |
|
|
|
- |
|
Balance outstanding at March 31, 2024 |
|
|
- |
|
|
$ |
- |
|
|
|
- |
|
|
$ |
2,581,788 |
|
Issuance of warrants |
|
|
3,350,430 |
|
|
|
16.18 |
|
|
|
5.00 |
|
|
|
8,697 |
|
Balance outstanding at March 31, 2025 |
|
|
3,350,430 |
|
|
$ |
16.18 |
|
|
|
4.12 |
|
|
$ |
2,590,485 |
|
Issuance of warrants |
|
|
12,731,481 |
|
|
|
2.16 |
|
|
|
5.00 |
|
|
|
17,587 |
|
Issuance of replacement warrants |
|
|
7,446,919 |
|
|
|
1.90 |
|
|
|
1.39 |
|
|
|
4,559 |
|
Balance outstanding at March 31, 2026 |
|
|
23,528,830 |
|
|
$ |
4.08 |
|
|
|
3.46 |
|
|
$ |
2,612,631 |
|
|