Quarterly report pursuant to Section 13 or 15(d)

SHAREHOLDERS EQUITY

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SHAREHOLDERS EQUITY
9 Months Ended
Sep. 30, 2024
SHAREHOLDERS EQUITY  
SHAREHOLDERS' EQUITY

7. SHAREHOLDERS’ EQUITY

 

Shares Outstanding

 

The table below details the change in Company shares outstanding by class during the nine months ended September 30, 2024:

 

 

 

Subordinate

 

 

Super

 

(in thousands)

 

Voting Shares

 

 

Voting Shares

 

Balance-December 31, 2023

 

 

19,031

 

 

 

20

 

Balance-September 30, 2024

 

 

19,031

 

 

 

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

 

Less expirations

 

 

 (900

Balance-September 30, 2024

 

 

226

 

  

At September 30, 2024, on a weighted average basis, warrants outstanding have an exercise price of $20.15 and expire by December, 2026. Warrants convert into subordinate voting shares.