Quarterly report pursuant to Section 13 or 15(d)

SHAREHOLDERS EQUITY

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SHAREHOLDERS EQUITY
 3 Months Ended
Mar. 31, 2024
SHAREHOLDERS EQUITY  
SHAREHOLDERS' EQUITY

7. SHAREHOLDERS’ EQUITY

 

Shares Outstanding

 

The table below details the change in Company shares outstanding by class during the three months ended March 31, 2024:

 

 

 

Subordinate

 

 

Super

 

(in thousands)

 

Voting Shares

 

 

Voting Shares

 

Balance-December 31, 2023

 

 

 19,024

 

 

 

 20

 

Balance-March 31, 2024

 

 

 19,024

 

 

 

 20

 

 

The Super Voting Shares carry 1,000 votes per share. The Subordinate Voting Shares carry 1 vote per share.

 

Warrants

 

A reconciliation of the beginning and ending balances of warrants outstanding is as follows: 

 

(in thousands)

 

 

 

Balance-December 31, 2023

 

 

 1,126

 

Balance-March 31, 2024

 

 

 1,126

 

 

For the three months ended March 31, 2024, on a weighted average basis, warrants outstanding have an exercise price of $1.52 and expire in February, 2025. Warrants convert into subordinate voting shares.