v3.26.1
SHARE BASED PAYMENTS (Tables)
 9 Months Ended 12 Months Ended
Dec. 31, 2025
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]    
SCHEDULE OF OPTIONS TO PURCHASE SUBORDINATE VOTING SHARES

Options to purchase Subordinate Voting Shares have been granted to directors, employees, and consultants as follows:

 

Expiry date  Average Remaining
Contractual Life in
Years		   Exercise Price
(CAD$)		  

Exercise Price

(USD$ equivalent) (1)

   Outstanding 
June 16, 2027   1.46    21.60    15.76    103,703 
September 4, 2027   1.68    7.44    5.43    125,000 
September 16, 2027   1.71    27.00    19.70    19,072 
April 28, 2028   2.33    44.55    32.50    3,703 
December 15, 2028   2.96    32.85    23.97    345,204 
December 23, 2028   2.98    30.51    22.26    136,290 
April 15, 2029   3.29    30.78    22.46    8,794 
July 3, 2029   3.51    29.01    21.17    142,808 
May 26, 2030   4.40    12.57    9.17    33,334 
September 19, 2030   4.72    6.90    5.03    261,726 
October 1, 2030   4.75    7.55    5.51    105,000 
    2.91    20.23    14.76    1,284,634 

 

(1)Converted at balance sheet rate.

Options to purchase Subordinate Voting Shares have been granted to directors, employees, and consultants as follows:

 

Expiry date  Weighted Average Remaining Contractual Life in Years   Exercise Price (CAD$)  

Exercise Price

(USD$ equivalent) (1)

   Outstanding 
June 16, 2027   2.21    21.60    15.02    103,703 
September 16, 2027   2.46    27.00    18.78    19,072 
April 28, 2028   3.08    44.55    30.99    3,703 
December 15, 2028   3.71    32.91    22.89    352,615 
December 23, 2028   3.73    30.51    21.22    136,290 
April 15, 2029   4.04    30.78    21.41    9,071 
July 3, 2029   4.26    29.01    20.18    146,430 
    3.59    30.09    20.93    770,884 

 

(1)Converted at balance sheet rate.
SUMMARY OF OPTIONS

A summary of the Company’s Options as of December 31, 2025, and changes for previous financial year end is as follows:

 

   Number of stock
options		   Weighted Average
Exercise Price (CAD$)		  

Weighted Average

Exercise Price

(USD$ equivalent) (1)

 
Outstanding, March 31, 2024   542,334   $32.09   $23.42 
Granted   364,099    27.39    19.98 
Exercised   (51,235)   23.22    16.94 
Cancelled   (84,314)   35.37    25.81 
Outstanding, March 31, 2025   770,884    30.10    21.96 
Granted   775,060    7.89    5.76 
Exercised   (250,000)   8.66    6.32 
Expired   (11,310)   33.89    24.73 
Outstanding, December 31, 2025   1,284,634    20.23    14.76 
Exercisable, December 31, 2025   1,039,271   $23.64   $17.25 

 

(1)Converted at balance sheet rate.

A summary of the Company’s stock options as at March 31, 2025, and changes for the years then ended is as follows:

 

   Number of stock options   Weighted Average Exercise Price (CAD$)  

Weighted Average

Exercise Price

(USD$ equivalent) (1)

 
Outstanding, March 31, 2023   258,516    21.68    15.08 
Granted   370,365    36.53    25.41 
Exercised   (86,547)   19.94    13.87 
Outstanding, March 31, 2024   542,334   $32.09   $22.32 
Granted   364,099    27.39    19.05 
Exercised   (51,235)   23.22    16.15 
Cancelled   (84,314)   35.37    24.60 
Outstanding, March 31, 2025   770,884    30.10    20.94 
Exercisable, March 31, 2025   511,487   $29.92   $20.81 

 

(1)Converted at balance sheet rate.
SCHEDULE OF THE BLACK-SCHOLES OPTION PRICING MODEL WITH THE FOLLOWING WEIGHTED AVERAGE ASSUMPTIONS

 

   CAD$   $ 
Share price at grant date  $7.55   $5.51 
Risk-free interest rate   2.73%   2.73%
Expected life   5 years    5 years 
Expected volatility   118.4%   118.4%
Expected forfeitures   0%   0%
Expected dividends   Nil    Nil 
Grant date fair value per option  $6.24   $4.48 
 
   CAD$   $ 
Share price at grant date  $6.90   $5.00 
Risk-free interest rate   2.74%   2.74%
Expected life   5 years    5 years 
Expected volatility   120.6%   120.6%
Expected forfeitures   0%   0%
Expected dividends   Nil    Nil 
Grant date fair value per option  $5.76   $4.18 
 
   CAD$   $ 
Share price at grant date  $7.44   $5.45 
Risk-free interest rate   2.47%   2.47%
Expected life   5 years    5 years 
Expected volatility   120.6%   120.6%
Expected forfeitures   0%   0%
Expected dividends   Nil    Nil 
Grant date fair value per option  $4.58   $3.31 
 
   CAD$   $ 
Share price at grant date  $8.66   $6.35 
Risk-free interest rate   3.10%   3.10%
Expected life   5 years    5 years 
Expected volatility   120.6%   120.6%
Expected forfeitures   0%   0%
Expected dividends   Nil    Nil 
Grant date fair value per option  $7.24   $5.31 
 
   CAD$   $ 
Share price at grant date  $12.57   $9.21 
Risk-free interest rate   2.92%   2.92%
Expected life   5 years    5 years 
Expected volatility   123.9%   123.9%
Expected forfeitures   0%   0%
Expected dividends   Nil    Nil 
Grant date fair value per option  $10.63   $7.74 

 

   CAD$   $ 
Share price at grant date  $30.51   $21.20 
Risk-free interest rate   3.04%   3.04%
Expected life   5 years    5 years 
Expected volatility   100%   100%
Expected forfeitures   0%   0%
Expected dividends   Nil    Nil 
Grant date fair value per option  $23.06   $16.02 

 
   CAD$   $ 
Share price at revaluation date  $23.25   $16.16 
Risk-free interest rate   2.61%   2.61%
Expected life   5 years    5 years 
Expected volatility   121.6%   122%
Expected forfeitures   0%   0%
Expected dividends   Nil    Nil 
Revaluation date fair value per option  $18.91   $13.14 

  
   CAD$   $ 
Share price at grant date  $14.31   $10.45 
Risk-free interest rate   3.07%   3.07%
Expected life   4.2 years    4.2 years 
Expected volatility   100.0%   100%
Expected forfeitures   0%   0%
Expected dividends   Nil    Nil 
Grant date fair value per option  $10.20   $7.45 

  

   CAD$   $ 
Share price at grant date  $28.89   $21.19 
Risk-free interest rate   3.57%   3.57%
Expected life   5 years    5 years 
Expected volatility   100.0%   100%
Expected forfeitures   0%   0%
Expected dividends   Nil    Nil 
Weighted average grant date fair value per option  $21.87   $16.04 

  
   CAD$   $ 
Share price at revaluation date  $23.25   $16.17 
Risk-free interest rate   2.47%   2.47%
Expected life   5 years    5 years 
Expected volatility   121.6%   121.6%
Expected forfeitures   0%   0%
Expected dividends   Nil    Nil 
Revaluation date fair value per option  $16.90   $11.75 

  
   CAD$   $ 
Share price at grant date  $30.78   $22.36 
Risk-free interest rate   3.77%   3.77%
Expected life   5 years    5 years 
Expected volatility   100%   100%
Expected forfeitures   0%   0%
Expected dividends   Nil    Nil 
Grant date fair value per option  $23.13   $16.81 

  

   CAD$   $ 
Share price at revaluation date  $23.25   $16.17 
Risk-free interest rate   2.47%   2.47%
Expected life   4.3 years    4.3 years 
Expected volatility   121.6%   121.6%
Expected forfeitures   0%   0%
Expected dividends   Nil    Nil 
Revaluation date fair value per option  $17.54   $12.20 

  
   CAD$   $ 
Share price at revaluation date  $23.25   $16.17 
Risk-free interest rate   2.47%   2.47%
Expected life   3.7 years    3.7 years 
Expected volatility   121.6%   121.6%
Expected forfeitures   0%   0%
Expected dividends   Nil    Nil 
Revaluation date fair value per option  $16.57   $11.53 

  

   CAD$   $ 
Share price at revaluation date  $23.25   $16.17 
Risk-free interest rate   2.47%   2.47%
Expected life   3.1 years    3.1 years 
Expected volatility   121.6%   121.6%
Expected forfeitures   0%   0%
Expected dividends   Nil    Nil 
Revaluation date fair value per option  $14.65   $10.19 

 
SCHEDULE OF RESTRICTED SHARES

A summary of the Company’s restricted shares units as at December 31, 2025, and changes for the years then ended is as follows:

 

   Number of RSUs 
Balance, March 31, 2024   24,075 
Issued, April 15, 2024   1,852 
Issued, June 20, 2024   37,037 
Issued, July 3, 2024   359,817 
Issued, September 13, 2024   74,074 
Issued, December 23, 2024   296,296 
Cancelled   (5,926)
Converted   (101,852)
Balance, March 31, 2025   685,373 
Issued, May 26, 2025   33,333 
Issued, September 19, 2025   30,000 
Issued, October 1, 2025   20,000 
Cancelled   (94,074)
Converted   (141,186)
Balance, December 31, 2025   533,446 
Exercisable, December 31, 2025   1,481 

A summary of the Company’s restricted shares units as at March 31, 2025, and changes for the years then ended is as follows:

   Number of RSUs 
Balance, March 31, 2023   18,519 
Issued, November 15, 2023   5,556 
Balance, March 31, 2024   24,075 
Issued, April 15, 2024   1,852 
Issued, June 20, 2024   37,037 
Issued, July 3, 2024   359,817 
Issued, September 13, 2024   74,074 
Issued, December 23, 2024   296,296 
Cancelled   (5,926)
Converted   (101,852)
Balance, March 31, 2025   685,373 
Exercisable, March 31, 2025   7,639 
SCHEDULE OF RECONCILIATION SHARE BASED PAYMENTS

A reconciliation of share based payments is as follows:

 

Share based payments  Stock Options   RSUs    Total 
Previous years graded vesting   860,673    -     860,673 
Revaluation RSUs 2023   -    (62,339)    (62,339)
New grants Q1 2025   196,119    56,989     253,108 
New grants Q2 2025   1,178,861    3,771,684     4,950,545 
New grants Q3 2025   1,334,636    2,927,997     4,262,633 
Cancelled options / RSUs   (1,396,321)   (12,717)    (1,409,038)
Balance, December 31, 2024  $2,173,968   $6,681,614    $8,855,582 
                 
Previous years graded vesting   1,337,858    -     1,337,858 
Previous years RSUs revaluation   -    (2,611,348)    (2,611,348)
New grants Q1 2026   258,056    344,431     602,487 
New grants Q2 2026   2,118,326    32,054     2,150,380 
New grants Q3 2026   470,072    38,397     508,469 
RSU milestone conversion   -    230,491     230,491 
RSUs cancellation   -    (181,887)    (181,887)
Balance, December 31, 2025  $4,184,312   $(2,147,862)   $2,036,450 

A reconciliation of share based payments is as follows:

Share based payments  Stock Options   RSUs   Modification of broker’s warrants   Settlement agreement   Total 
Previous year graded vesting   473,109    -    -    -    473,109 
New grants Q1 2023   70,925    -    -    -    70,925 
New grants Q3 2023   6,390,644    127,400    -    -    6,518,044 
Modification of broker’s warrants   -    -    440,604    -    440,604 
Revaluation RSUs   -    148,636    -    -    148,636 
Settlement agreement   -    -    -    198,801    198,801 
Balance, March 31, 2024  $6,934,678   $276,036   $440,604   $198,801   $7,850,119 
                          
Previous years graded vesting   675,250    -    -    -    675,250 
Previous years RSUs revaluation   -    (231,386)   -    -    (231,386)
New grants Q1 2024   128,287    29,948    -    -    158,235 
New grants Q2 2024   1,542,912    3,049,516    -    -    4,592,428 
New grants Q3 2024   1,291,759    2,621,935    -    -    3,913,694 
Cancelled options / RSUs   (1,416,299)   (12,717)   -    -    (1,429,016)
Balance, March 31, 2025  $2,221,909   $5,457,296   $-   $-   $7,679,205 
SCHEDULE OF CONSOLIDATES THE POSITION OF OPTIONS GRANTED RELATED TO STRATEGIC CONSULTANTS

The table below consolidates the position of the Options granted related to consultants of the Company:

 

Consultant  Total granted amount   Exercised -
Inception to
March 31,
2025		   Outstanding
March 31,
2025		   Granted
Q3-2026
(ytd)		   Exercised
Q3-2026
(ytd)		   Cancelled
Q3-2026
(ytd)		   Outstanding
December 31,
2025		   % of the
total		 
A   64,815    (55,556)   9,259    -    -    -    9,259    2.5%
B   64,814    (9,259)   55,555    375,000    (250,000)   -    180,555    47.8%
C   55,555    (44,444)   11,111    -    -    -    11,111    2.9%
D   44,444    -    44,444    -    -    -    44,444    11.8%
E   23,889    -    23,889    16,667    -    -    40,556    10.7%
F   3,704    -    3,704    16,667    -    -    20,371    5.4%
G   14,815    (14,815)   -    -    -    -    -    0.0%
H   14,815    -    14,815    -    -    -    14,815    3.9%
I   12,963    -    12,963    -    -    -    12,963    3.4%
J   12,963    (10,556)   2,407    -    -    -    2,407    0.6%
K   9,259    (9,259)   -    -    -    -    -    0.0%
L   7,407    -    7,407    -    -    -    7,407    2.0%
M   6,481    -    6,481    -    -    -    6,481    1.7%
N   6,481    -    6,481    -    -    -    6,481    1.7%
O   4,457    -    4,457    -    -    -    4,457    1.2%
P   3,704    -    3,704    -    -    -    3,704    1.0%
Q   3,704    -    3,704    -    -    -    3,704    1.0%
Others   10,577    (1,235)   9,342    -    -    (617)   8,725    2.3%
Total   364,847    (145,124)   219,723    408,334    (250,000)   (617)   377,440    100.0%
  
SCHEDULE OF POSITION OF THE RSUS GRANTED RELATED TO STRATEGIC CONSULTANTS

The table below consolidates the position of the RSUs granted related to consultants of the Company:

 

Consultant  Total
granted
amount		   Converted -
Inception to
March 31,
2025		   Outstanding
March 31,
2025		   Granted
Q3-2026
(ytd)		   Converted
Q3-2026
(ytd)		   Cancelled
Q3-2026
(ytd)		   Outstanding
December 31,
2025		   % of the
total		 
A   7,407    (2,469)   4,938    -    -    -    4,938    3.5%
B   46,296    (9,259)   37,037    33,333    (42,592)   -    27,778    19.7%
E   111,111    (37,037)   74,074    -    (37,037)   (37,037)   -    0.0%
F   111,111    (37,037)   74,074    -    (37,037)   (37,037)   -    0.0%
L   1,852    -    1,852    -    -    -    1,852    1.3%
Others   20,371    (3,704)   16,667    20,000    (4,055)   (20,000)   12,612    8.9%
Total   298,148    (89,506)   208,642    53,333    (120,721)   (94,074)   141,254    100.0%