| SHARE PURCHASE WARRANTS |
|
16. |
SHARE PURCHASE WARRANTS |
Share purchase warrants outstanding as at November
30, 2020 are:
| Expiry Date |
|
Exercise Price |
|
|
Warrants
Outstanding |
|
| December 7, 2020 |
|
US$ |
0.67 |
|
|
|
185,185 |
|
| December 7, 2020 |
|
US$ |
1.50 |
|
|
|
3,188,735 |
|
| December 17, 2020 |
|
US$ |
0.26 |
|
|
|
952,380 |
|
| January 10, 2021 |
|
US$ |
1.50 |
|
|
|
1,437,557 |
|
| January 11, 2021 |
|
US$ |
1.50 |
|
|
|
307,692 |
|
| January 14, 2021 |
|
US$ |
0.20 |
|
|
|
1,176,470 |
|
| January 16, 2021 |
|
US$ |
0.14 |
|
|
|
357,142 |
|
| 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 |
|
| July 21, 2021 |
|
US$ |
0.0412 |
|
|
|
2,666,666 |
|
| August 7, 2021 |
|
US$ |
0.0412 |
|
|
|
3,033,980 |
|
| August 16, 2021 |
|
CAD$ |
0.29 |
|
|
|
120,000 |
|
| August 16, 2021 |
|
US$ |
0.18 |
|
|
|
4,210,785 |
|
| September 20, 2021 |
|
US$ |
0.23 |
|
|
|
1,111,111 |
|
| September 30, 2021 |
|
US$ |
0.23 |
|
|
|
2,777,777 |
|
| December 30, 2021 |
|
US$ |
0.055 |
|
|
|
4,545,454 |
|
| November 26, 2023 |
|
US$ |
0.17 |
|
|
|
1,683,230 |
|
| December 4, 2023 |
|
US$ |
0.17 |
|
|
|
2,286,720 |
|
| March 30, 2024 |
|
US$ |
0.08 |
|
|
|
392,500 |
|
| March 30, 2024 |
|
US$ |
0.15 |
|
|
|
4,906,250 |
|
| January 25, 2025 |
|
US$ |
0.14 |
|
|
|
151,785 |
|
| |
|
|
|
|
|
|
47,379,348 |
|
| Weighted average remaining contractual life |
|
|
|
|
|
|
1.10 years |
|
| Weighted average exercise price |
|
USD$ |
0.38 |
|
|
|
|
|
Warrants exercisable over 3,240,651
common shares at exercise prices ranging from $0.18 and $1.50 per share expired during the three months ended November 30, 2020.
On September 17, 2020, warrants
for 2,268,169 shares were exercised at an exercise price of $0.03 per share for gross proceeds of $68,045.
On September 30, 2020, the Company
issued warrant exercisable for 4,545,454 shares to a convertible debt note holder. The fair value of the warrants granted was estimated
at $101,475 using the relative fair value method. In addition, warrants valued on debt extinguishment agreements entered into with
certain convertible note holders, whereby the exercise price and in certain cases, the expiry date of the warrant were amended,
amounted to $149,354.
The fair value of share purchase warrants was estimated using
the Black-Scholes valuation model utilizing the following weighted average assumptions:
| |
|
Three months ended November 30,
2020 |
|
| Share price |
|
CAD$ |
0.075 |
|
| Exercise price |
|
US$ |
0.055 |
|
| Expected share price volatility |
|
|
147.2 |
% |
| Risk-free interest rate |
|
|
0.21 |
% |
| Expected term |
|
|
1.27 |
|
|