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

Lease obligation

v3.20.1
Lease obligation
12 Months Ended
Dec. 31, 2019
Disclosure of maturity analysis of operating lease payments [abstract]
Lease obligation
8 Lease obligation

Amount
$
Balance – December 31, 2017
Leases recognized upon transition to IFRS 16 87
Additions 1,291
Repayment of lease obligation (74 )
Accreted interest 94
Balance – December 31, 2018 1,398
Repayment of lease obligation (239 )
Accreted interest 149
Balance – December 31, 2019 1,308
Less: Current portion 100
Non-current portion 1,208

The Corporation recognizes a right-of-use asset and lease liability at the lease commencement date. The right-of-use asset is initially measured at cost, which comprises the initial amount of the liability, discounted at an incremental borrowing rate of 11%, adjusted for any payments made before the commencement date, plus any initial direct costs, less any lease incentives received. During the year ended December 31, 2019, the Corporation recognized $nil (2018 - $1,417) in right-of-use assets in property and equipment on the statements of financial position. During the year ended December 31, 2019, the Corporation recognized $20 in expense related to low-value and short-term leases (2018 - $142) and $161 (2018 - $98) related to variable lease payments not included in measurement of lease liabilities on the statements of loss and comprehensive loss.