Annual report pursuant to Section 13 and 15(d)

SHAREHOLDERS EQUITY

v3.23.1
SHAREHOLDERS EQUITY
12 Months Ended
Dec. 31, 2022
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, 2022:

 

 

 

Subordinate

 

 

Super

 

(in thousands)

 

Voting Shares

 

 

Voting Shares

 

Balance-December 31, 2021

 

 

111,806

 

 

 

203

 

Issuance of vested restricted stock units

 

 

364

 

 

 

-

 

Issuance of shares associated with asset acquisition

 

 

10,000

 

 

 

-

 

Shares re-purchased

 

 

(400 )

 

 

-

 

Balance-December 31, 2022

 

 

121,770

 

 

 

203

 

 

Warrants

 

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

 

(in thousands)

 

 

 

Balance-December 31, 2021

 

 

101,906

 

Warrants issued in conjunction with convertible debt offering 

 

 

72,081

 

Warrants expired

 

 

(552

)

Balance-December 31, 2022

 

 

173,435

 

 

The Company signed the LOI in 2023 to cancel outstanding warrants related to our convertible debentures. While the deal has not closed, refer to “Subsequent Events” for more information.