Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - CAD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities      
Net loss for the year $ (9,485,309) $ (1,652,282) $ (1,284,602)
Items not affecting cash:      
Accretion     846
Amortization 75,268 17,882 20,439
Fair value adjustment on derivative warrant liability (4,470,276) (3,299,768)  
Fair value of finders' warrants allocated to derivative liability 189,230    
Forgiveness of debt     (91,014)
Impairment of intangible assets     64,562
Lease Interest expense 5,024    
Recovery of provision for patent acquisition     (95,490)
Share-based payments 632,548 499,158 293,443
Shares issued for services   75,000  
Unrealized foreign exchange (gain) (881,468) (325,741) 1,201
Changes in non-cash operating assets and liabilities:      
Accounts receivable (59,191) (37,188)  
Prepaid expenses 762,798 (1,006,357) (42,998)
Accounts payable and accrued liabilities 1,263,174 (333,214) 405,212
Cash flows from (used in) operating activities (11,968,202) (6,062,510) (728,401)
Investing activities      
Acquisition of intangible assets (34,237) (39,809) (14,350)
Acquisition of equipment (25,779)    
Cash flows from (used in) investing activities (60,016) (39,809) (14,350)
Financing activities      
Proceeds from issuance of equity instruments 6,855,506 22,798,581 900,000
Cash share issuance costs (369,608) (856,113) (44,592)
Options exercised   84,000  
Pre-funded warrants and warrants exercised 87 2,430,083  
Payment of lease obligation 55,125    
Net cash flows from (used in) financing activities 6,430,860 24,456,551 855,408
Effect of foreign exchange (gain) on cash and cash equivalents 871,636 325,741  
(Decrease) increase in cash and cash equivalents (4,725,722) 18,679,973 112,657
Cash and cash equivalents, beginning of year 18,851,244 171,271 58,614
Cash and cash equivalents, end of year 14,125,522 18,851,244 171,271
Supplemental Cash Flow and Non-Cash Investing and Financing Activities Disclosure      
Recognition of derivative warrant liabilities   12,783,000  
Fair value of agent's warrants 254,684    
Derivative warrant liability reclassified to reserves   4,460,000  
Derivative warrant liability reclassified to share capital on exercise of warrants   $ 425,900  
Recognition of right-of-use asset $ 155,206    
Transfer of funds held in trust     70,000
Shares issued for deposit     1,606,320
Shares issued to settle debt     50,000
Obligation to issue shares     32,238
Application of deposits against accounts payable     $ 436,240