SHARE CAPITAL (Tables)

12 Months Ended

Aug. 31, 2020

Disclosure of classes of share capital [abstract]

Disclosure of number and weighted average exercise prices of share options [Table Text Block]

	Number of Shares		Average Exercise Price CAD$
Options outstanding at August 31, 2018	308,550		45.20
Forfeited/Cancelled	(308,550	)	45.20
Granted	1,554,000		2.61
Options outstanding at August 31, 2019	1,554,000		2.61
Granted	1,628,500		1.81
Options outstanding at August 31, 2020	3,182,500		2.20

Disclosure of number and weighted average remaining contractual life of outstanding share options [Table Text Block]

Number Outstanding at August 31, 2020	Number Exercisable at August 31, 2020	Exercise Price		Average Remaining Contractual Life (Years)
1,554,000	388,500	C$	2.61	3.61
1,628,500	—		1.81	4.26
3,182,500	388,500			3.94

Disclosure of assumptions used in valuing stock options granted [Table Text Block]

Year ended	August 31, 2020	August 31, 2019
Risk-free interest rate	1.56%	1.6%
Expected life of options	3.9 years	3.9 years
Annualized volatility1	82%	74%
Forfeiture rate	2.1%	2.1%
Dividend rate	0.0%	0.0%
1The Company uses its historical volatility as the basis for the expected volatility assumption in the Black Scholes option pricing model.