SHARE CAPITAL (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| IfrsStatementLineItems [Line Items] |
|
| SCHEDULE OF STOCK OPTIONS |
The
following is a summary of the Company’s stock options granted, exercised and cancelled for the six months ended June 30, 2026 and
for the year ended December 31, 2025:
SCHEDULE
OF STOCK OPTIONS
| | |
Number
of stock options | | |
Weighted
average exercise price | |
| | |
# | | |
C$ | |
| Balance, December 31, 2024 | |
| 3,612,500 | | |
| 1.84 | |
| Granted | |
| 862,500 | | |
| 4.40 | |
| Exercised | |
| (2,663,544 | ) | |
| 1.94 | |
| Cancelled | |
| (54,166 | ) | |
| 3.54 | |
| Balance, December 31,
2025 | |
| 1,757,290 | | |
| 2.89 | |
| Granted | |
| 45,000 | | |
| 17.18 | |
| Exercised | |
| (762,501 | ) | |
| 2.20 | |
| Balance,
June 30, 2026 | |
| 1,039,789 | | |
| 4.02 | |
|
| SCHEDULE OF STOCK OPTION OUTSTANDING |
As
at June 30, 2026, the Company had the following stock options outstanding:
SCHEDULE OF STOCK OPTION OUTSTANDING
| | |
| |
Options
outstanding | | |
Options
exercisable | |
| Grant
Date | |
Date
of expiry | |
Number
of options | | |
Weighted
average exercise price | | |
Weighted
average remaining years | | |
Number
of options | | |
Weighted
average exercise price | | |
Weighted
average remaining years | |
| | |
| |
| | |
C$ | | |
| | |
| | |
C$ | | |
| |
| August 1, 2024 | |
August 01, 2029 | |
| 327,083 | | |
| 1.60 | | |
| 3.09 | | |
| 181,250 | | |
| 1.60 | | |
| 3.09 | |
| October 16, 2024 | |
October 16, 2029 | |
| 18,750 | | |
| 1.64 | | |
| 3.30 | | |
| 18,750 | | |
| 1.64 | | |
| 3.30 | |
| June 26, 2025 | |
June 26, 2030 | |
| 648,956 | | |
| 4.40 | | |
| 3.99 | | |
| 373,963 | | |
| 4.40 | | |
| 3.99 | |
| February 27, 2026 | |
February 27, 2031 | |
| 45,000 | | |
| 17.18 | | |
| 4.67 | | |
| 11,250 | | |
| 17.18 | | |
| 4.67 | |
| Balance, June 30, 2026 | |
| |
| 1,039,789 | | |
| 4.02 | | |
| 3.72 | | |
| 585,213 | | |
| 3.69 | | |
| 3.70 | |
|
| SCHEDULE OF WEIGHTED AVERAGE ASSUMPTIONS |
The
weighted average assumptions used in the Black-Scholes option pricing model were as follows:
SCHEDULE
OF WEIGHTED AVERAGE ASSUMPTIONS
| Assumption | |
Based
on | |
2026 | | |
2025 | |
| Risk-free rate (%) | |
Yield curves on Canadian government
zero-coupon bonds with a remaining term equal to the stock options’ expected life | |
| 2.62 | % | |
| 2.83 | % |
| Expected life (years) | |
Expiry term of the options | |
| 5
years | | |
| 5
years | |
| Expected volatility (%) | |
Historical volatility of the Company’s
share price | |
| 91.86 | % | |
| 89.86 | % |
| Dividend yield (%) | |
Annualized dividend rate
as of the date of grant | |
| Nil | | |
| nil | |
|
| SCHEDULE OF RESTRICTED SHARE UNITS OUTSTANDING |
As
at June 30, 2026, the Company had the following RSUs outstanding:
SCHEDULE
OF RESTRICTED SHARE UNITS OUTSTANDING
Grant
Date | |
Vesting
Date | |
Number
of RSUs outstanding | | |
Weighted
average fair value | | |
Weighted
average years until vesting | |
| | |
| |
| | |
C$ | | |
| |
| August 1, 2024 | |
March 31, 2027 | |
| 67,083 | | |
| 1.38 | | |
| 0.75 | |
| June 26, 2025 | |
June 26, 2027 | |
| 77,914 | | |
| 3.92 | | |
| 0.99 | |
| January 05, 2026 | |
January 05, 2027 | |
| 13,000 | | |
| 13.55 | | |
| 0.52 | |
| January 05, 2026 | |
January 05, 2028 | |
| 13,000 | | |
| 13.55 | | |
| 1.52 | |
| January 05, 2026 | |
January 05, 2029 | |
| 13,000 | | |
| 13.55 | | |
| 2.52 | |
| Balance,
June 30, 2026 | |
| |
| 183,997 | | |
| 5.05 | | |
| 1.01 | |
|
| SCHEDULE OF DEFERRED SHARE UNITS OUTSTANDING |
As
at June 30, 2026, the Company had the following DSUs outstanding:
SCHEDULE
OF DEFERRED SHARE UNITS OUTSTANDING
Grant
Date | |
Vesting
Date | |
Number
of DSUs outstanding | | |
Weighted
average fair value | | |
Weighted
average years until vesting | |
| | |
| |
# | | |
C$ | | |
years | |
| August 1,
2024 | |
August 1,
2025 | |
| 168,750 | | |
| 1.38 | | |
| 0.00 | |
| Balance,
June 30, 2026 | |
| |
| 168,750 | | |
| 1.38 | | |
| 0.00 | |
|
| Restricted share units [member] |
|
| IfrsStatementLineItems [Line Items] |
|
| SCHEDULE OF PERFORMANCE SHARE UNITS |
The
following is a summary of the Company’s RSUs for the six months ended June 30, 2026 and for the year ended December 31, 2025:
SCHEDULE
OF RESTRICTED SHARE UNITS
| | |
Number
of RSUs outstanding | | |
Weighted
average fair value | |
| | |
| | |
C$ | |
| Balance, December 31, 2024 | |
| 206,250 | | |
| 1.38 | |
| Granted | |
| 238,750 | | |
| 3.92 | |
| Vested | |
| (148,334 | ) | |
| 2.74 | |
| Balance, December 31,
2025 | |
| 296,666 | | |
| 2.74 | |
| Granted | |
| 39,000 | | |
| 13.55 | |
| Vested | |
| (151,669 | ) | |
| 2.73 | |
| Balance,
June 30, 2026 | |
| 183,997 | | |
| 5.05 | |
|
| Deferred share units [member] |
|
| IfrsStatementLineItems [Line Items] |
|
| SCHEDULE OF PERFORMANCE SHARE UNITS |
The
following is a summary of the Company’s DSUs for the six months ended June 30, 2026 and for the year ended December 31, 2025:
SCHEDULE
OF DEFERRED SHARE UNITS
| | |
Number
of DSUs outstanding | | |
Weighted
average fair value | |
| | |
| | |
C$ | |
| Balance, December
31, 2024 and December 31, 2025 | |
| 168,750 | | |
| 1.38 | |
| Balance,
June 30, 2026 | |
| 168,750 | | |
| 1.38 | |
|
| Performance share units [member] |
|
| IfrsStatementLineItems [Line Items] |
|
| SCHEDULE OF PERFORMANCE SHARE UNITS |
The
following is a summary of the Company’s PSUs for the six months ended June 30, 2026 and for the year ended December 31, 2025:
SCHEDULE
OF PERFORMANCE SHARE UNITS
| | |
Number
of PSUs outstanding | | |
Weighted
average fair value | |
| | |
| | |
C$ | |
| Balance, December 31, 2024 | |
| 250,000 | | |
| 1.38 | |
| Granted | |
| 125,000 | | |
| 3.92 | |
| Vested | |
| (200,000 | ) | |
| 1.38 | |
| Cancelled | |
| (50,000 | ) | |
| 1.38 | |
| Balance, December 31,
2025 | |
| 125,000 | | |
| 3.92 | |
| Vested | |
| (125,000 | ) | |
| 3.92 | |
| Balance,
June 30, 2026 | |
| - | | |
| - | |
|