Stock options, retention securities and warrants (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| Stock options, retention securities and warrants |
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| Schedule of stock option transactions |
| | | | | | | Number of shares | | Weighted average | | | issuable under | | exercise price | | | options | | $ | Balance outstanding at December 31, 2023 | | 10,545,500 | | 1.91 | Granted | | 2,268,200 | | 2.47 | Exercised | | (887,000) | | 1.44 | Forfeited/Expired | | (149,000) | | 2.14 | Balance outstanding at December 31, 2024 | | 11,777,700 | | 2.05 | Granted | | 2,349,700 | | 3.27 | Exercised | | (2,434,000) | | 1.84 | Forfeited/Expired | | (2,417,500) | | 2.46 | Balance outstanding at December 31, 2025 | | 9,275,900 | | 2.31 |
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| Schedule of stock options outstanding |
The following table summarizes information about stock options outstanding at December 31, 2025: | | | | | | | | | | | | | | | | | Weighted | | | | | | Weighted | | | | | | | average | | | | | | average | | | | | Number of | | remaining | | Weighted | | Number of | | remaining | | Weighted | | | Options | | contractual | | average exercise | | Options | | contractual | | average exercise | Exercise Price ($) | | Outstanding | | life (Years) | | Price ($) | | Exercisable | | life (Years) | | Price ($) | 1.01-1.50 | | 98,000 | | 4.27 | | 1.13 | | 98,000 | | 4.27 | | 1.13 | 1.51-2.00 | | 5,215,000 | | 5.40 | | 1.79 | | 5,215,000 | | 5.40 | | 1.79 | 2.01-2.50 | | 928,000 | | 2.89 | | 2.14 | | 903,000 | | 2.74 | | 2.14 | 2.51-3.00 | | 926,500 | | 7.62 | | 2.83 | | 549,250 | | 6.69 | | 2.82 | 3.01-3.50 | | 1,165,900 | | 5.40 | | 3.24 | | 1,139,900 | | 5.34 | | 3.23 | 3.51-4.00 | | 942,500 | | 2.73 | | 3.83 | | 328,646 | | 1.37 | | 3.88 | | | 9,275,900 | | 5.09 | | 2.31 | | 8,233,796 | | 5.01 | | 2.17 |
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| Schedule of assumptions for fair value of options granted |
| | | | | | | | December 31, 2025 | | December 31, 2024 | | | | (Restated – see Note 4) | | (Restated – see Note 4) | | Risk-free interest rate | | 2.72% - 3.19 | % | 3.02% - 3.76 | % | Expected term in years | | 4.0 - 9.2 years | | 5-10 years | | Expected stock price volatility | | 65.7% - 73.7 | % | 68.6% - 70.0 | % | Dividend yield | | — | | — | |
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| Schedule of warrants transactions |
| | | | | | | | | Number of shares | | Weighted average | | Weighted average | | | issuable under | | exercise price | | exercise price | | | warrants | | US$ | | $ | Balance outstanding at December 31, 2023 | | 5,075,000 | | 1.75 | | 2.32 | Granted | | 5,066,250 | | | | 2.98 | Exercised | | (47,500) | | | | 2.93 | Balance outstanding at December 31, 2024 | | 10,093,750 | | 1.75 | | 2.75 | Granted | | 2,392,832 | | 2.65 | | 3.63 | Exercised | | (1,146,734) | | | | 2.98 | Balance outstanding at December 31, 2025 | | 11,339,848 | | 2.65 | | 2.88 |
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| Schedule of warrants outstanding |
The following table summarizes information about warrants outstanding at December 31, 2025: | | | | | | | Exercise Price ($) | | Number of Warrants Outstanding | | Grant Date | | Expiry Date | 2.44 | | 5,075,000 | | July 13, 2022 | | July 13, 2027 | 3.00 | | 3,780,097 | | March 28, 2024 | | March 28, 2027 | 2.35 | | 91,919 | | March 28, 2024 | | March 28, 2026 | 3.63 (US 2.65) | | 2,392,832 | | November 19, 2025 | | November 19, 2028 | | | 11,339,848 | | | | |
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