v3.26.1
Warrant Liabilities (Tables)
6 Months Ended
Jun. 30, 2026
Warrant Liabilities [Abstract]  
Schedule of Changes in Warrant Liabilities

The following table summarizes the changes in the warrant liabilities for the Corporation’s warrants for the periods ended June 30, 2026 and December 31, 2025:

 

   Number of
warrants
   Amount 
Balance, December 31, 2024   3,636,363   $3,040,494 
Warrants issued   1,492,190    3,215,255 
Warrants exercised   (3,653,410)   (7,324,588)
Revaluation of warrant liabilities   
-
    3,110,015 
Foreign currency translation   
-
    256,754 
Balance, December 31, 2025   1,475,143    2,297,930 
Warrants issued   269,231    599,039 
Warrants exercised   (663,899)   (2,750,086)
Revaluation of warrant liabilities   
-
    4,250,772)
Foreign currency translation   
-
    (147,314)
Balance, June 30, 2026   1,080,475   $4,250,341 
Schedule of Fair Value of Warrants

The fair value of the Corporation’s warrants determined using the Black-Scholes pricing model was determined with the following weighted average assumptions:

 

   As at
June 30,
2026
   As at
December 31,
2025
 
Spot price (in CAD$)  $7.66   $3.50 
Risk-free interest rate   2.79%   2.64%
Expected annual volatility   129%   121%
Expected life (years)   1.85    2.48 
Dividend   nil    nil 
Schedule of Warrants Classified as Liabilities Outstanding and Exercisable

The following table reflects the Corporation’s warrants classified as liabilities outstanding and exercisable as at June 30, 2026.

 

Expiry date  SV Shares underlying Warrants
outstanding
and
exercisable
   Exercise
price
 
August 15, 2027   431,818   US$2.00 
February 7, 2028   456,349   US$3.66 
July 21, 2030   192,308   US$3.59 
    1,080,475