Financial instruments and risk management (Tables)
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12 Months Ended |
Dec. 31, 2022 |
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| Financial instruments and risk management |
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| Schedule of financial instruments |
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December 31, 2022 |
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December 31, 2021 |
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Estimated |
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Estimated |
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Level |
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Carrying Value |
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Fair Value |
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Carrying Value |
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Fair Value |
FVTPL |
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|
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$ |
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$ |
|
$ |
|
$ |
Cash and cash equivalents |
|
1 |
|
14,125,522 |
|
14,125,522 |
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18,851,244 |
|
18,851,244 |
Financial liabilities at amortized cost |
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|
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|
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Accounts payable and accrued liabilities |
|
1 |
|
1,960,745 |
|
1,960,745 |
|
700,999 |
|
700,999 |
Lease liability |
|
2 |
|
105,105 |
|
105,105 |
|
— |
|
— |
FVTPL |
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|
|
|
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|
|
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Derivative warrant liability |
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3 |
|
5,220,649 |
|
5,220,649 |
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4,597,332 |
|
4,597,332 |
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| Schedule of company's maximum exposure to credit risk |
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December 31, |
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December 31, |
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|
2022 |
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2021 |
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|
$ |
|
$ |
|
|
|
|
|
Cash and cash equivalents |
|
14,125,522 |
|
18,851,244 |
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| Schedule of contractual maturities of these financial liabilities |
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Payments due by period as of December 31, 2022 |
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Between 3 |
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Less than |
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months and |
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|
|
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Total |
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3 months |
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1 year |
|
1-3 years |
|
|
$ |
|
$ |
|
$ |
|
$ |
|
|
|
|
|
|
|
|
|
Accounts payable and accrued liabilities |
|
1,960,745 |
|
1,960,745 |
|
— |
|
— |
Lease liability |
|
105,105 |
|
22,379 |
|
67,138 |
|
15,588 |
|
|
|
|
|
|
|
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2,065,850 |
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1,983,124 |
|
67,138 |
|
15,588 |
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|
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Payments due by period as of December 31, 2021 |
|
|
|
|
|
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Between 3 |
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|
|
|
|
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Less than |
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months and |
|
|
|
|
Total |
|
3 months |
|
1 year |
|
1-3 years |
|
|
$ |
|
$ |
|
$ |
|
$ |
Accounts payable and accrued liabilities |
|
700,999 |
|
700,999 |
|
— |
|
— |
|
|
|
|
|
|
|
|
|
|
|
700,999 |
|
700,999 |
|
— |
|
— |
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| Schedule of the sensitivity of the Company's net earnings due to changes in the exchange rate between the USD, GBP and EUR against the Canadian dollar |
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USD |
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GBP
amount |
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EUR |
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Total |
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|
$ |
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$ |
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$ |
|
$ |
Cash |
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12,907,255 |
|
— |
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— |
|
12,907,255 |
Accounts payable and accrued liabilities |
|
(1,466,309) |
|
(45,755) |
|
(11,747) |
|
(1,523,811) |
Net exposure |
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11,440,946 |
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(45,755) |
|
(11,747) |
|
11,383,444 |
|
|
|
|
|
|
|
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|
Effect of +/- 10% change in currency |
|
1,144,095 |
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(4,576) |
|
(1,175) |
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