Annual report pursuant to Section 13 and 15(d)

SHAREHOLDERS EQUITY

v3.22.1
SHAREHOLDERS EQUITY
 12 Months Ended
Dec. 31, 2021
SHAREHOLDERS EQUITY  
SHAREHOLDERS EQUITY

8. SHAREHOLDERS’ EQUITY

 

Shares Outstanding

 

The table below details the change in Company shares outstanding by class during year ended December 31, 2021:

 

 

 

Subordinate

 

 

Super

 

(in thousands)

 

Voting Shares

 

 

Voting Shares

 

Balance—December 31, 2020

 

 

 57,617

 

 

 

 203

 

Shares issued in connection with exercise of warrants

 

 

 1,511

 

 

 

 -

 

Shares issued in connection with conversion of convertible debentures

 

 

 2,580

 

 

 

 -

 

Shares issued in connection with asset acquisition

 

 

 30,641

 

 

 

 -

 

Issuance of shares associated with subordinate voting share offering

 

 

 18,000

 

 

 

 -

 

Issuance of vested restricted stock units

 

 

 1,290

 

 

 

 -

 

Stock issued in connection with exercised of stock options

 

 

 167

 

 

 

 -

 

Balance—December 31, 2021

 

 

 111,806

 

 

 

 203

 

 

Warrants

 

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

 

(in thousands)

 

 

 

Balance—December 31, 2020

 

 

 93,898

 

Warrants issued in conjunction with broker option exercise (1) 

 

 

 163

 

Warrants issued in conjunction with subordinate voting share offering

 

 

 9,000

 

Warrants expired

 

 

 (358 )

Warrants converted into subordinate voting shares

 

 

 (1,186 )

Balance—December 31, 2021

 

 

 101,517

 

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(1) Excludes 389 warrants issuable should underwriter options be exercised.