SHARE PURCHASE WARRANTS |
|
17. |
SHARE
PURCHASE WARRANTS |
Share
purchase warrants outstanding as at August 31, 2019 are:
Expiry
Date |
|
Exercise
Price |
|
|
Warrants
Outstanding |
|
September 4, 2019 |
|
US$ |
0.87 |
|
|
|
287,356 |
|
September 17, 2019 |
|
US$ |
1.10 |
|
|
|
750,000 |
|
October 12, 2019 |
|
US$ |
0.86 |
|
|
|
290,500 |
|
October 15, 2019 |
|
US$ |
0.86 |
|
|
|
290,500 |
|
November 5, 2019 |
|
CAD$ |
28.35 |
|
|
|
25,327 |
|
January 25, 2020 |
|
US$ |
0.37 |
|
|
|
147,058 |
|
February 27, 2020 |
|
US$ |
0.37 |
|
|
|
135,135 |
|
March 9, 2020 |
|
US$ |
1.50 |
|
|
|
114,678 |
|
May 22, 2020 |
|
US$ |
0.28 |
|
|
|
678,571 |
|
May 22, 2020 |
|
US$ |
0.30 |
|
|
|
1,554,165 |
|
June 7, 2020 |
|
US$ |
0.525 |
|
|
|
1,190,476 |
|
June 14, 2020 |
|
US$ |
1.50 |
|
|
|
329,080 |
|
July 5, 2020 |
|
US$ |
0.35 |
|
|
|
200,000 |
|
July 5, 2020 |
|
US$ |
0.30 |
|
|
|
200,000 |
|
July 26, 2020 |
|
US$ |
1.50 |
|
|
|
1,637,160 |
|
August 16, 2020 |
|
US$ |
0.22 |
|
|
|
352,940 |
|
August 28, 2020 |
|
US$ |
0.94 |
|
|
|
1,311,242 |
|
August 28, 2020 |
|
US$ |
1.00 |
|
|
|
246,913 |
|
August 28, 2020 |
|
US$ |
1.50 |
|
|
|
35,714 |
|
August 29, 2020 |
|
US$ |
0.15 |
|
|
|
2,666,666 |
|
September 6, 2020 |
|
US$ |
1.01 |
|
|
|
925,925 |
|
October 11, 2020 |
|
US$ |
1.35 |
|
|
|
510,204 |
|
October 11, 2020 |
|
US$ |
1.50 |
|
|
|
10,204 |
|
October 19, 2020 |
|
US$ |
0.24 |
|
|
|
1,315,789 |
|
November 7, 2020 |
|
US$ |
0.61 |
|
|
|
20,408 |
|
November 7, 2020 |
|
US$ |
0.66 |
|
|
|
300,000 |
|
November 8, 2020 |
|
US$ |
1.01 |
|
|
|
918,355 |
|
December 7, 2020 |
|
US$ |
0.67 |
|
|
|
185,185 |
|
December 7, 2020 |
|
US$ |
1.50 |
|
|
|
3,188,735 |
|
January 10, 2021 |
|
US$ |
1.50 |
|
|
|
1,437,557 |
|
January 11, 2021 |
|
US$ |
1.50 |
|
|
|
307,692 |
|
Mar 29, 2021 |
|
US$ |
0.465 |
|
|
|
1,481,481 |
|
April 8, 2021 |
|
CAD$ |
4.73 |
|
|
|
57,756 |
|
May 22, 2021 |
|
US$ |
0.91 |
|
|
|
6,000,000 |
|
May 22, 2021 |
|
US$ |
0.30 |
|
|
|
1,133,333 |
|
May 22, 2021 |
|
US$ |
1.50 |
|
|
|
65,759 |
|
July 5, 2021 |
|
US$ |
0.25 |
|
|
|
52,631 |
|
July 5, 2021 |
|
US$ |
0.28 |
|
|
|
131,578 |
|
July 5, 2021 |
|
US$ |
0.35 |
|
|
|
3,917,771 |
|
August 16, 2021 |
|
CAD$ |
0.29 |
|
|
|
120,000 |
|
August 16, 2021 |
|
US$ |
0.18 |
|
|
|
4,210,785 |
|
|
|
|
|
|
|
|
38,734,629 |
|
Weighted average remaining contractual
life |
|
|
|
|
|
|
1.33
years |
|
Weighted average exercise price |
|
USD$ |
0.71 |
|
|
|
|
|
Warrants
exercisable over 327,081 common shares at exercise prices ranging from $0.48 and $7.50 per share expired during the year ended
August 31, 2019.
From September 6, 2018 to August
29, 2019, the Company issued 5,861,227 warrants to convertible debt note holders in terms of subscription unit agreements entered
into with the convertible note holders (Note 13(c) to 13 (j)). The fair value of the warrants granted was estimated using the relative
fair value method at between $0.04 to $0.39 per warrant.
From
September 6, 2018 to May 22, 2019, the Company issued 23,375,948 warrants in terms of common share subscription agreements entered
into with various investors. The fair value of the warrants granted was estimated using the relative fair value method at between
$0.049 and $0.36 per warrant.
The
share purchase warrants issued, during the year ended August 31, 2019, were valued at $3,805,184 using the relative fair value
method. The fair value of share purchase warrants were estimated using the Black-Scholes valuation model utilizing the following
weighted average assumptions:
|
|
Year
ended August 31,
2019 |
|
Share price |
|
CAD$ |
0.51 |
|
Exercise price |
|
CAD |
0.79 |
|
Expected share price volatility |
|
|
113 |
% |
Risk-free interest rate |
|
|
1.74 |
% |
Expected term |
|
|
1.70 |
|
|