SHARE CAPITAL (Tables)

12 Months Ended

Aug. 31, 2021

Disclosure of classes of share capital [abstract]

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

	Number of Share Options	Average Exercise Price in CAD
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
Granted	1,596,500	$  6.41
Forfeited	(126,936)	$  2.27
Exercised	(843,543)	$  2.21
Options outstanding at August 31, 2021	3,808,521	$  3.96

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

Number Outstanding at August 31, 2021	Number Exercisable at August 31, 2021	Exercise Price in CAD		Average Remaining Contractual Life (Years)
1,497,500	-	$	6.58	4.30
99,000	-	$	3.90	4.94
1,058,502	94,769	$	2.61	2.61
1,153,519	122,519	$	1.81	3.26
3,808,521	217,288			3.40

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

Year ended	August 31, 2021	August 31, 2020
Risk-free interest rate	0.41%	1.56%
Expected life of options	3.9 years	3.9 years
Annualized volatility1	88%	82%
Forfeiture rate	2.0%	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.