IMV Inc. Annual reports filed by certain Canadian issuers pursuant to Section 15(d) and Rule 15d-4

Annual reports filed by certain Canadian issuers pursuant to Section 15(d) and Rule 15d-4

Warrants

Warrants

12 Months Ended

Dec. 31, 2019


14	Warrants

Warrant activity for the years ended December 31, 2019 and 2018 was as follows:


				2019					2018
			Weighted					Weighted
			average					average
			exercise					exercise
	Number		price	Amount		Number		price	Amount
	#		$	$		#		$	$

Opening balance	192,458		5.84	415		2,087,598		2.46	674
Granted	–		–	–		134,766		6.53	332
Exercised	(14,423	)	4.22	(21	)	(2,029,905	)	2.41	(591	)
Expired	(43,269	)	4.22	(62	)	–		–	–

Closing balance	134,766¹		6.53	332		192,459		5.84	415

¹ The 134,766 warrants outstanding expired on February 15, 2020.

The fair values of warrants are estimated using the Black-Scholes option pricing model. There have been no warrants issued to date in 2019. The weighted average assumptions used in the Black-Scholes valuation model for the periods presented were as follows:


		2018
	Risk-free interest rate	1.84%
	Expected volatility	68%
	Expected dividend yield	–
	Expected life (years)	2