| SHAREHOLDERS’ EQUITY |
NOTE
6: SHAREHOLDERS’ EQUITY
a.
Authorized share capital
The
authorized share capital consists of an unlimited number of common shares with no par value.
b.
Issued share capital
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|
On
January 3, 2025, the Company’s board of directors approved a reverse stock split of the Company’s common shares on a
1-for-15 basis, which became effective on January 24, 2025 and on August 25, 2025 (the “Effective Date”), the Company
effected a reverse stock split of its common shares on a 1-for-10 basis (the “Reverse Splits”). |
As
a result of the Reverse Splits, every one hundred and fifty (150) pre-split common shares issued and outstanding were automatically combined
into one (1) new common share. No fractional common shares were issued in connection with the Reverse Splits. Instead, any fractional
common shares resulting from the January 2025 Reverse Split were deemed to have been tendered to the Company for cancellation for no
consideration.
Following
the January 2025 Reverse Split, the number of common shares outstanding were 294,694. After giving effect to subsequent share issuances
and the August 2025 Reverse Split, the number of common shares outstanding was 1,883,906.
The
Reverse Splits also resulted in a proportional adjustment to the number of common shares issuable upon the exercise of the Company’s
outstanding warrants, stock options, and other convertible securities, as well as an adjustment to the exercise prices and conversion
prices, as applicable.
All
share and per share amounts in the accompanying condensed consolidated financial statements and related notes have been
retroactively adjusted to reflect both the January 2025 Reverse Split and the August 2025 Reverse Split for all periods
presented.
| |
(ii) |
The
Company did not issue any shares during the three-month period ended October 31, 2025. |
BriaCell
Therapeutics Corp
Notes
to the Condensed Consolidated Financial Statements
(Unaudited,
expressed in US Dollars, except share and per share data and unless otherwise indicated)
NOTE
6: SHAREHOLDERS’ EQUITY (Cont.)
c.
Share Purchase Warrants
| |
(i) |
There
were no changes in share purchase warrants for the three-month period ended October 31, 2025. |
| |
(ii) |
As
of October 31, 2025, share purchase warrants outstanding were as follows: |
SCHEDULE OF WARRANTS OUTSTANDING
Number
of Warrants | | |
Exercise
Price | | |
Exercisable
At October
31, 2025 | | |
Expiry
Date |
| | (*)346 | | |
$ | 588.62 | | |
| 346 | | |
November 16, 2025 |
| | (*)25,978 | | |
$ | 796.88 | | |
| 25,978 | | |
February 26, 2026 – April 26, 2026 |
| | (*)27,820 | | |
$ | 928.50 | | |
| 27,820 | | |
December 7, 2026 |
| | 16,019 | | |
$ | 316.50 | | |
| 16,019 | | |
November 17, 2029 |
| | 27,753 | | |
$ | 127.50 | | |
| 27,753 | | |
October 2, 2029 |
| | 49,333 | | |
$ | 140.63 | | |
| 49,333 | | |
December 12, 2029 |
| | 306,665 | | |
$ | 52.50 | | |
| 306,665 | | |
April 28, 2030 |
| | 1,200,000 | | |
$ | 15.00 | | |
| 1,200,000 | | |
July 15, 2030 |
| | 1,653,914 | | |
| | | |
| 1,653,914 | | |
|
| (*) |
Briacell
Legacy Warrants – see note 1(e) and note 4(a) |
d.
Compensation Warrants
| |
(i) |
There
were no changes in compensation warrants for the three-month period ended October 31, 2025. |
| |
(ii) |
As
of October 31, 2025, compensation warrants outstanding were as follows: |
SCHEDULE OF WARRANTS OUTSTANDING
Number
of Warrants | | |
Exercise
Price | | |
Exercisable
At October
31, 2025 | | |
Expiry
Date |
| | (*)34 | | |
$ | | |
| 34 | | |
November 16, 2025 |
| | (*)113 | | |
$ | 796.88 | | |
| 113 | | |
February 26, 2026 |
| | (*)164 | | |
$ | 928.50 | | |
| 164 | | |
June 7, 2026 |
| | 333 | | |
$ | 348.00 | | |
| 333 | | |
May 17, 2029 |
| | 4,108 | | |
$ | 129.38 | | |
| 4,108 | | |
September 12, 2029 |
| | 1,709 | | |
$ | 182.81 | | |
| 1,709 | | |
October 2, 2029 |
| | 2,466 | | |
$ | 140.63 | | |
| 2,466 | | |
December 12, 2029 |
| | 3,812 | | |
$ | 50.00 | | |
| 3,812 | | |
February 5, 2030 |
| | 15,333 | | |
$ | 56.50 | | |
| 15,333 | | |
April 28, 2030 |
| | 28,072 | | |
| | | |
| 28,072 | | |
|
| (*) |
Briacell
Legacy Warrants – see note 1(e) and note 4(a) |
BriaCell
Therapeutics Corp
Notes
to the Condensed Consolidated Financial Statements
(Unaudited,
expressed in US Dollars, except share and per share data and unless otherwise indicated)
NOTE
6: SHAREHOLDERS’ EQUITY (Cont.)
e.
Warrant liability continuity
The
following table presents the summary of the changes in the fair value of the warrants:
SCHEDULE OF CHANGE IN FAIR VALUE OF WARRANTS
| | |
Warrants
liability | |
| | |
| |
| Balance as of August 1, 2025 | |
$ | 337,672 | |
| Change in fair value
during the period | |
| 69,201 | |
| | |
| | |
| Balance as of October
31, 2025 | |
$ | 406,873 | |
The
key inputs used in the valuation of the non-public warrants as of October 31, 2025 and at July 31, 2025 were as follows:
SCHEDULE OF VALUATION OF PUBLIC OFFERING BROKER WARRANTS
| | |
October
31, 2025 | | |
July
31, 2025 | |
| | |
| | |
| |
| Share price | |
$ | 11.00 | | |
$ | 7.50 | |
| Exercise price | |
$ | 796.88-928.50 | | |
$ | 796.88-928.50 | |
| Expected life (years) | |
| 0.32-1.10 | | |
| 0.57-1.35 | |
| Volatility | |
| 160-193 | % | |
| 157-209 | % |
| Dividend yield | |
| 0 | % | |
| 0 | % |
| Risk free rate | |
| 3.69-3.83 | % | |
| 4.10 | % |
The
key inputs used in the valuation of the of the BriaPro Warrant Shares as of October 31, 2025 were as follows:
SCHEDULE OF BRIA PRO WARRANTS
| | |
August 31, 2023
(Effective Date) | | |
October
31, 2025 | |
| | |
| | |
| |
| Share price | |
$ | 0.0365 | | |
$ | 0.0365 | |
| Exercise price | |
$ | 0.0206-0.0308
| | |
$ | 0.0206-0.0308 | |
| Expected life (years) | |
| 2.21-3.27 | | |
$ | 0.30-1.35 | |
| Volatility | |
| 100 | % | |
| 89-193 | % |
| Dividend yield | |
| 0 | % | |
| 0 | % |
| Risk free rate | |
| 4.40 | % | |
| 2.21-2.29 | % |
BriaCell
Therapeutics Corp
Notes
to the Condensed Consolidated Financial Statements
(Unaudited,
expressed in US Dollars, except share and per share data and unless otherwise indicated)
|