Share Capital (Tables)
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12 Months Ended |
Apr. 30, 2026 |
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| Disclosure of classes of share capital [abstract] |
|
| Summary of Stock Option Awards |
The following table summarizes stock option awards during the years ended April 30, 2026, 2025 and 2024, including the fair value determined using the Black-Scholes option pricing model:
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grant date |
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Stock
options
granted |
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Exercisable price/option
$ |
|
Awarded to |
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Share price
on grant
date
$ |
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Dividend yield |
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Expected volatility |
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Risk-free rate |
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Expected life |
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Fair value |
August 3, 2024(1) |
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799,767 |
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|
0.86(2) |
|
Officers and employees |
|
0.86(2) |
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|
0 |
% |
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|
77 |
% |
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|
3.68 |
% |
|
10 years |
|
$0.7 million |
(1)Vesting conditions are as follows: one-fourth one year from hire date; one thirty-sixth each month after hire date.
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| Summary of Changes in Stock Option |
The changes in the stock options for the years ended April 30, 2026, 2025 are as follows:
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Number of
options
# |
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Weighted
average
exercise price
$ |
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|
Weighted
average life
remaining
(years) |
|
Balance, April 30, 2024 (outstanding) |
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1,521,367 |
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7.17 |
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3.47 |
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Granted |
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799,767 |
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1.22 |
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— |
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Expired |
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(159,021 |
) |
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3.80 |
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— |
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Forfeited |
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(234,188 |
) |
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1.10 |
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— |
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Balance, April 30, 2025 (outstanding) |
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1,927,925 |
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5.69 |
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4.45 |
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Expired |
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(571,458 |
) |
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9.70 |
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— |
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Forfeited |
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(78,750 |
) |
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0.85 |
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|
— |
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Balance, April 30, 2026 (outstanding) |
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1,277,717 |
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|
3.80 |
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4.29 |
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Unvested |
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(317,736 |
) |
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1.15 |
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8.09 |
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Exercisable, April 30, 2026 |
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959,981 |
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4.68 |
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3.04 |
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| Summary of Options Outstanding |
Details of the options outstanding as at April 30, 2026 are as follows:
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Expiry Date |
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Exercise
price $ |
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Remaining
life (year) |
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Options
outstanding |
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Unvested |
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Exercisable |
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January 7, 2027 |
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7.94 |
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0.69 |
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169,000 |
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— |
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169,000 |
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January 13, 2027 |
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8.30 |
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0.71 |
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16,000 |
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- |
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16,000 |
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May 15, 2027 |
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5.79 |
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1.04 |
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64,000 |
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- |
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64,000 |
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February 19, 2027(1) |
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5.21 |
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0.81 |
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7,265 |
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- |
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7,265 |
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February 19, 2028(1) |
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5.21 |
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1.81 |
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431,452 |
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- |
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431,452 |
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January 19, 2029(2) |
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1.88 |
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2.73 |
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60,000 |
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7,778 |
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52,222 |
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January 4, 2033(3) |
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1.87 |
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6.69 |
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8,000 |
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1,667 |
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6,333 |
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May 8, 2033(3) |
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1.87 |
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7.03 |
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4,000 |
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1,167 |
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2,833 |
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June 11, 2033(3) |
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1.87 |
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7.12 |
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8,000 |
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2,500 |
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5,500 |
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August 8, 2033(3) |
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1.87 |
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7.28 |
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4,000 |
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1,417 |
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2,583 |
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November 13, 2033(3) |
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1.87 |
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7.55 |
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8,000 |
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3,333 |
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4,667 |
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February 19, 2034(3) |
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1.87 |
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7.81 |
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8,000 |
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3,833 |
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4,167 |
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August 2, 2034(4) |
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1.09 |
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8.26 |
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490,000 |
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296,042 |
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193,958 |
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3.80 |
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4.29 |
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1,277,717 |
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317,736 |
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959,981 |
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(1)Exercise price of U.S.$4.10. The figure in the table above is translated at the April 30, 2026 rate. (2)Exercise price of U.S.$1.48. The figure in the table above is translated at the April 30, 2026 rate. (3)Exercise price of U.S.$1.47. The figure in the table above is translated at the April 30, 2026 rate. (4)Exercise price of U.S.$0.86. The figure in the table above is translated at the April 30, 2026 rate.
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| Summary of Changes in Finder's Warrants |
The changes in the finder’s warrants for the years ended April 30, 2026, 2025 are as follows:
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Number of
warrants
# |
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Weighted average
exercise price
$ |
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|
Weighted average life
remaining (years) |
|
Balance, April 30, 2025 |
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186,761 |
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17.02 |
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1.62 |
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Expired |
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(130,111 |
) |
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21.36 |
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— |
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Balance, April 30, 2026 |
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56,650 |
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1.27 |
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2.61 |
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| Details of Finder's Warrants Outstanding |
Details of the finder’s warrants outstanding as at April 30, 2026 are as follows:
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Expiry Date |
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Exercise price
$ |
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Remaining life
(year) |
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Warrants
outstanding |
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December 8, 2028(1) |
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1.27 |
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2.61 |
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56,650 |
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(1)Exercise price of U.S.$1.00. The figure in the table above is translated at the April 30, 2026 rate.
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| Summarizes Activity Related to RSUs |
The following table summarizes the activity related to the Company's RSUs for the year ended April 30, 2026. For purposes of this table, vested RSUs represent the shares for which the service condition had been fulfilled as of April 30, 2026:
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Number of
Restricted Stock Units
# |
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|
Weighted
average
grant date fair value
$ |
|
Balance, April 30, 2024 |
|
|
— |
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|
— |
|
Granted |
|
|
46,000 |
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|
|
0.42 |
|
Balance, April 30, 2025 |
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|
46,000 |
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|
0 |
|
Granted |
|
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1,287,335 |
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|
2.36 |
|
Exercised |
|
|
(23,779 |
) |
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|
0.70 |
|
Forfeited |
|
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(24,528 |
) |
|
|
0.15 |
|
Balance, April 30, 2026 |
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1,285,028 |
|
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|
2.35 |
|
Unvested |
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(1,272,250 |
) |
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|
2.36 |
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Vested and outstanding, April 30, 2026 |
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12,778 |
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|
0.71 |
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