STOCK OPTIONS AND RESTRICTED STOCK UNITS (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Stock Options And Restricted Stock Units |
|
| Schedule of stock option |
| Schedule of stock option |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
Number of
stock options |
|
|
Weighted
average
exercise price |
|
|
Aggregate
intrinsic value
($USD) |
|
| Balance, December 31, 2024 |
|
|
|
15,365,000 |
|
|
$ |
0.37(CAD$0.51 |
) |
|
$ |
4,527,243 |
|
| Granted |
|
|
|
2,330,000 |
|
|
$ |
0.61(CAD$0.83 |
) |
|
|
- |
|
| Exercised |
|
|
|
(2,764,167 |
) |
|
$ |
0.15(CAD$0.21 |
) |
|
|
703,068 |
|
| Forfeited |
|
|
|
(1,040,833 |
) |
|
$ |
0.43(CAD$0.60 |
) |
|
|
- |
|
| Balance, December 31, 2025 |
|
|
|
13,890,000 |
|
|
$ |
0.45(CAD$0.61 |
) |
|
$ |
1,835,510 |
|
| Granted(1)(2) |
|
|
|
625,000 |
|
|
$ |
0.35(CAD$0.49 |
) |
|
|
- |
|
| Exercised(3) |
|
|
|
(200,000 |
) |
|
$ |
0.11(CAD$0.15 |
) |
|
|
64,813 |
|
| Forfeited |
|
|
|
(300,000 |
) |
|
$ |
0.46(CAD$0.66 |
) |
|
|
- |
|
| Balance, June 30, 2026 |
|
|
|
14,015,000 |
|
|
$ |
0.43(CAD$0.61 |
) |
|
$ |
1,229,767 |
|
|
(1) |
On January 22, 2026, the Company granted stock options to employees of the Company. The stock options have an exercise price of $(CAD$) and expire on . The options vest in three equal tranches on each of December 31, 2026, December 31, 2027 and December 31, 2028. |
|
(2) |
On April 17, 2026, the Company granted stock options to employees of the Company. The stock options have an exercise price of $ (CAD$) and expire on . The options vest in three equal tranches on each of April 16, 2027, December 31, 2027 and December 31, 2028. |
|
(3) |
During the six months ended June 30, 2026, options were exercised into SV shares for gross proceeds of $ (CAD$30,000). |
|
| Schedule of outstanding stock options |
| Schedule of outstanding stock options |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Expiry Date |
|
Outstanding
(#) |
|
|
Aggregate
intrinsic value
($) |
|
|
Exercisable
(#) |
|
|
Aggregate
intrinsic value
($) |
|
|
Exercise price
($) |
|
|
Remaining
contractual life
(years) |
|
| January 10, 2027 |
|
|
3,525,000 |
|
|
|
1,017,065 |
|
|
|
3,525,000 |
|
|
|
1,017,065 |
|
|
$ |
0.11(CAD$0.15 |
) |
|
|
0.53 |
|
| March 21, 2027 |
|
|
300,000 |
|
|
|
86,559 |
|
|
|
300,000 |
|
|
|
86,559 |
|
|
$ |
0.11(CAD$0.15 |
) |
|
|
0.72 |
|
| August 31, 2027 |
|
|
4,560,000 |
|
|
|
- |
|
|
|
3,039,988 |
|
|
|
- |
|
|
$ |
0.21(CAD$0.3 |
) |
|
|
1.17 |
|
| September 14, 2027 |
|
|
200,000 |
|
|
|
36,594 |
|
|
|
133,333 |
|
|
|
24,396 |
|
|
$ |
0.27(CAD$0.39 |
) |
|
|
1.21 |
|
| November 16, 2027 |
|
|
500,000 |
|
|
|
59,817 |
|
|
|
500,000 |
|
|
|
59,817 |
|
|
$ |
0.59(CAD$0.84 |
) |
|
|
1.38 |
|
| March 18, 2028 |
|
|
30,000 |
|
|
|
- |
|
|
|
10,000 |
|
|
|
- |
|
|
$ |
0.65(CAD$0.93 |
) |
|
|
1.72 |
|
| December 31, 2028 |
|
|
500,000 |
|
|
|
- |
|
|
|
166,666 |
|
|
|
- |
|
|
$ |
0.61(CAD$0.87 |
) |
|
|
2.51 |
|
| February 3, 2029 |
|
|
2,000,000 |
|
|
|
- |
|
|
|
708,333 |
|
|
|
- |
|
|
$ |
0.52(CAD$0.74 |
) |
|
|
2.60 |
|
| August 31, 2028 |
|
|
75,000 |
|
|
|
- |
|
|
|
49,999 |
|
|
|
- |
|
|
$ |
0.59(CAD$0.84 |
) |
|
|
2.17 |
|
| April 16, 2029 |
|
|
400,000 |
|
|
|
28,149 |
|
|
|
- |
|
|
|
- |
|
|
$ |
0.32(CAD$0.46 |
) |
|
|
2.80 |
|
| September 3, 2029 |
|
|
300,000 |
|
|
|
- |
|
|
|
75,000 |
|
|
|
- |
|
|
$ |
0.43(CAD$0.61 |
) |
|
|
3.18 |
|
| August 31, 2029 |
|
|
1,400,000 |
|
|
|
- |
|
|
|
933,333 |
|
|
|
- |
|
|
$ |
0.59(CAD$0.84 |
) |
|
|
3.17 |
|
| December 31, 2029 |
|
|
225,000 |
|
|
|
1,583 |
|
|
|
- |
|
|
|
- |
|
|
$ |
0.39(CAD$0.55 |
) |
|
|
3.51 |
|
| Balance, June 30, 2026 |
|
|
14,015,000 |
|
|
|
1,229,767 |
|
|
|
9,441,652 |
|
|
|
1,187,837 |
|
|
$ |
0.43(CAD$0.61 |
) |
|
|
1.59 |
|
|
| Schedule of summarizes the rsu movements |
| Schedule of summarizes the rsu movements |
|
|
|
|
|
|
|
|
| |
|
June 30,
2026 |
|
|
December 31,
2025 |
|
| Share price |
|
$ |
0.36(CAD$0.49 |
) |
|
$ |
0.60(CAD$0.94 |
) |
| Expected life options (years) |
|
|
2.66 |
|
|
|
2.53 |
|
| Expected volatility |
|
|
84.91 |
% |
|
|
94.77 |
% |
| Expected dividend yield |
|
|
0 |
% |
|
|
0 |
% |
| Risk-free interest rate |
|
|
2.84 |
% |
|
|
2.62 |
% |
| Black-Scholes value of each option |
|
$ |
0.19 |
|
|
$ |
0.34 |
|
|
| Schedule of summarizes the rsu movements |
| Schedule of summarizes the rsu movements |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Number of
RSUs
(#) |
|
|
Weighted average
issue price
($) |
|
|
Aggregate
intrinsic value
($) |
|
| Balance, December 31, 2024 |
|
|
725,700 |
|
|
$ |
0.63(CAD$0.86 |
) |
|
|
469,040 |
|
| Granted to employees |
|
|
1,234,375 |
|
|
$ |
0.66(CAD$0.91 |
) |
|
|
729,045 |
|
| Exercised |
|
|
(463,575 |
) |
|
$ |
0.66(CAD$0.90 |
) |
|
|
257,250 |
|
| Balance, December 31, 2025 |
|
|
1,496,500 |
|
|
$ |
0.65(CAD$0.89 |
) |
|
|
764,300 |
|
| Balance, June 30, 2026 |
|
|
1,496,500 |
|
|
$ |
0.65(CAD$0.89 |
) |
|
|
589,754 |
|
|
| Schedule of outstanding RSU |
| Schedule of outstanding RSU |
|
|
|
|
|
|
|
|
|
|
|
|
| Expiry Date |
|
Outstanding at
June 30,
2026 |
|
|
Weighted average
grant date
fair value
($) |
|
|
Weighted
average
remaining
vesting period
(years) |
|
| December 31, 2026 |
|
$ |
60,000 |
|
|
|
0.66(CAD$0.91 |
) |
|
|
0.50 |
|
| January 1, 2027 |
|
$ |
1,436,500 |
|
|
|
0.61(CAD$0.83 |
) |
|
|
0.51 |
|
| |
|
$ |
1,496,500 |
|
|
|
0.65(CAD$0.89 |
) |
|
|
0.51 |
|
|