STOCK OPTIONS AND WARRANTS (Tables)
|
9 Months Ended |
May 31, 2021 |
|---|
| Share-based Payment Arrangement [Abstract] |
|
| Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] |
|
Expected dividend yield
|
0.00%
|
|
Expected stock volatility
|
98%
|
|
Risk-free interest rate
|
0.41%
|
|
Expected life of options (years)
|
5.00
|
|
Expected forfeiture rate
|
0.00%
|
|
Grant date fair value per option
|
$0.06
|
|
| Share-based Payment Arrangement, Option, Activity [Table Text Block] |
| |
|
|
|
|
Options Outstanding |
|
| |
|
|
|
|
Weighted Average |
|
| |
|
Number of Shares |
|
|
Exercise Price |
|
| Balance, August 31, 2019 |
|
8,320,000 |
|
$ |
0.07 |
|
| Issued |
|
2,000,000 |
|
|
0.02 |
|
| Expired |
|
(1,000,000 |
) |
|
0.10 |
|
| Balance, August 31, 2020 |
|
9,320,000 |
|
$ |
0.06 |
|
| Issued |
|
5,150,000 |
|
|
0.10 |
|
| Expired |
|
(1,100,000 |
) |
|
0.05 |
|
| Exercised |
|
(3,193,224 |
) |
|
0.04 |
|
| Balance, May 31, 2021 |
|
10,176,776 |
|
$ |
0.08 |
|
|
| Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] |
|
May 31, 2021
|
|
|
|
Issue Date
|
Expiry Date
|
Exercise Price
|
Number of Options
|
Remaining Life
|
|
September 19, 2016
|
September 19, 2021
|
0.07
|
500,000*
|
0.30 years
|
|
January 20, 2017
|
January 20, 2022
|
0.07
|
1,200,000*
|
0.64 years
|
|
January 31, 2017
|
January 31, 2022
|
0.07
|
1,250,000*
|
0.67 years
|
|
May 2, 2017
|
May 2, 2022
|
0.10
|
500,000
|
0.92 years
|
|
October 27, 2017
|
October 27, 2022
|
0.05
|
800,000*
|
1.41 years
|
|
May 11, 2018
|
May 11, 2023
|
0.06
|
500,000*
|
1.95 years
|
|
May 22, 2018
|
May 22, 2023
|
0.07
|
550,000*
|
1.98 years
|
|
February 25, 2020
|
February 25, 2022
|
0.02
|
226,776*
|
0.74 years
|
|
December 14, 2020
|
December 14, 2025
|
0.05
|
2,100,000*
|
4.54 years
|
|
January 28, 2021
|
January 28, 2026
|
0.14
|
2,000,000
|
4.67 years
|
|
February 4, 2021
|
February 4, 2026
|
0.18
|
100,000
|
4.68 years
|
|
February 5, 2021
|
February 5, 2026
|
0.18
|
300,000
|
4.69 years
|
|
April 27, 2021
|
April 27, 2026
|
0.12
|
100,000
|
4.91 years
|
|
May 28, 2021
|
May 28, 2026
|
0.12
|
50,000
|
4.99 years
|
|
|
|
|
|
|
|
|
|
0.08
|
10,176,776
|
2.66 years
|
*As at May 31, 2021 the market price of the Company's common shares was $0.0965 per share. A total of 7,126,776 incentive stock options were in the money with an intrinsic value of $263,198.
|
August 31, 2020
|
|
|
|
Issue Date
|
Expiry Date
|
Exercise Price
|
Number of Options
|
Remaining Life
|
|
October 23, 2015
|
October 23, 2020
|
0.05
|
1,100,000
|
0.15 years
|
|
September 19, 2016
|
September 19, 2021
|
0.07
|
800,000
|
1.05 years
|
|
January 20, 2017
|
January 20, 2022
|
0.07
|
1,535,000
|
1.39 years
|
|
January 31, 2017
|
January 31, 2022
|
0.07
|
1,500,000
|
1.42 years
|
|
May 2, 2017
|
May 2, 2022
|
0.10
|
500,000
|
1.67 years
|
|
October 27, 2017
|
October 27, 2022
|
0.05
|
800,000
|
2.16 years
|
|
May 11, 2018
|
May 11, 2023
|
0.06
|
535,000
|
2.70 years
|
|
May 22, 2018
|
May 22, 2023
|
0.07
|
550,000
|
2.73 years
|
|
February 25, 2020
|
February 25, 2022
|
0.02
|
2,000,000
|
1.49 years
|
|
|
|
|
|
|
|
|
|
0.06
|
9,320,000
|
1.48 years
|
|
| Schedule of Stockholders' Equity Note, Warrants or Rights, Activity [Table Text Block] |
| |
|
|
|
|
Weighted Average |
|
| |
|
Number of warrants |
|
|
Exercise Price |
|
| Balance, August 31, 2019 |
|
26,141,459 |
|
$ |
0.06 |
|
| Expired |
|
(12,904,590 |
) |
|
0.07 |
|
| Balance, August 31, 2020 |
|
13,236,869 |
|
$ |
0.06 |
|
| Issued |
|
1,500,000 |
|
|
0.09 |
|
| Exercised |
|
(40,000 |
) |
|
0.04 |
|
| Balance, May 31, 2021 |
|
14,696,869 |
|
$ |
0.05 |
|
|
| Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] |
The Company has the following warrants outstanding:
|
May 31, 2021
|
|
|
Issue Date
|
Expiry Date
|
Exercise Price
|
Number of Warrants*
|
|
August 31, 2018
|
August 31, 2021
|
0.05
|
4,800,000
|
|
September 21, 2018
|
September 21, 2021
|
0.05
|
2,427,500
|
|
March 27, 2019
|
March 27, 2023
|
0.04
|
5,969,369
|
|
January 14, 2021
|
January 14, 2022
|
0.09
|
1,500,000
|
|
|
|
|
|
|
|
|
0.05
|
14,696,869
|
*Each warrant entitles a holder to purchase one common share.
|
August 31, 2020
|
|
|
Issue Date
|
Expiry Date
|
Exercise Price
|
Number of Warrants*
|
|
August 31, 2018
|
August 31, 2021
|
0.05
|
4,800,000
|
|
September 21, 2018
|
September 21, 2021
|
0.05
|
2,427,500
|
|
March 27, 2019
|
March 27, 2023
|
0.04
|
6,009,369
|
|
|
|
|
|
|
|
|
0.05
|
13,236,869
|
|