v3.26.3
Share capital
 12 Months Ended
Jun. 30, 2026
Share Capital  
Share capital

 

21.Share capital:

 

  (a) Authorized share capital as at June 30, 2026 and June 30, 2025
     
    Unlimited number of common shares with no par value.
     
  (b) Issued and outstanding share capital
     
    On June 30, 2026, the Company had 47,697,277 common shares issued and outstanding (June 30, 2025 - 35,433,947, and June 30, 2024 – 27,191,075). A summary of changes in share capital is presented in the consolidated statements of changes in shareholders’ equity:

 

  

Number of

Common shares

   Share Capital 
Balance, July 1, 2023   26,800,000   $6,855 
Common shares issued, net of costs   2,200    22 
Equity warrants exercised (note 21d)   110,000    83 
Acquisition of OFIT GM and OFIT RT (note 19)   278,875    2,066 
Balance, June 30, 2024   27,191,075   $9,026 
Common shares issued, net of costs   990,726    3,550 
Equity warrants exercised (note 21d)   235,000    176 
RSU exercised (note 22b)   508,381    1,874 
Share-based compensation (note 22a)   81,551    384 
Share-based compensation exercised (note 22a)   457,215    2,919 
Equity warrant granted (note 21d)   -    791 
Shelf prospectus shares issued (note 21c)   2,394,367    6,615 
Acquisition of Solar Flow-Through Funds (note 19)   3,575,632    19,950 
Balance, June 30, 2025   35,433,947   $45,285 
           
Common shares issued, net of costs   7,816,798    18,167 
Equity warrants exercised   2,773,098    1,979 
RSU exercised (note 22b)   354,275    727 
Share-based compensation exercised (note 22a)   1,319,159    1,846 
Balance, June 30, 2026   47,697,277    68,004 

 

(c)Shelf prospectus shares issued:

 

On March 24, 2025, the Company completed a registered direct offering of 2,394,367 units each consisting of a common share at a subscription price of $5.08 per share (US$3.55), and a warrant with exercise price of $6.37 per warrant (US$4.45).

 

The proceeds from the offering were allocated between the common shares and the liability warrants based on their respective fair values at the date of issuance. The fair value of the warrants was determined on the issuance date using the Black-Scholes option pricing model and was estimated at $4,975. The residual amount of the transaction price, after allocating to the warrant component, was attributed to the common shares and amounted to $7,195. The warrants are classified as financial liabilities and are remeasured at fair value at each reporting period, with changes recognized in profit or loss in accordance with IFRS 9, Financial Instruments (note 31). The common shares are classified as equity.

 

A total of $981 in legal and other issuance costs was incurred. Of this, $401 related to the warrants and was expensed immediately in profit or loss, while $580 related to the common shares and was deducted from equity.

 

 

POWERBANK CORPORATION

Notes to Consolidated Financial Statements

(Expressed in thousands of Canadian dollars, except per share amounts and as otherwise indicated)

For the years ended June 30, 2026, 2025 and 2024

 

 

21.Share capital (continued):

 

(d)Warrants

 

The movement in warrants during the year was as follows:

 

   June 30, 2026   June 30, 2025 
   Number of
warrants		   Weighted
average
exercise
price per
warrant		   Weighted
Average
Remaining
Life
(years)		   Number of
warrants		   Weighted
average
exercise
price per
warrant		   Weighted
Average
Remaining
Life
(years)		 
Outstanding, beginning of the year   7,757,718   $0.52    2.43    7,873,000   $0.38    3.35 
Granted   -    -    -    119,718    6.61    - 
Exercised   (2,773,098)   0.24         (235,000)   0.75    - 
Outstanding, end of the year   4,984,620   $0.60         7,757,718   $0.52      
Weighted average remaining Life (years)   -         1.63    -    -    2.43 

 

As compensation related to the shelf prospectus offering (note 21c) completed on March 24, 2025, the Company issued 119,718 equity warrants to the placement agent. Each warrant entitles the holder to purchase one common share of the Company at an exercise price equal to 130% of the offering price per share, or $6.61 per warrant (US$4.62). The warrants have a contractual term of five years and are classified as equity instruments. The warrants were valued at $791, the fair value of the services received.

 

 

POWERBANK CORPORATION

Notes to Consolidated Financial Statements

(Expressed in thousands of Canadian dollars, except per share amounts and as otherwise indicated)

For the years ended June 30, 2026, 2025 and 2024