SHARE CAPITAL (Tables)

12 Months Ended

Aug. 31, 2022

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, 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

	Number of Share Options			Average Exercise Price in CAD
Granted	1,273,000		$	2.36
Expired	(1,256,517	)	$	4.08
Exercised	(158,333	)	$	1.86
Options outstanding at August 31, 2022	3,666,671		$	3.45

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

Number Outstanding at August 31, 2022	Number Exercisable at August 31, 2022		Exercise Price in CAD	Average Remaining Contractual Life (Years)
967,167	332,500	$	6.58	3.30
99,000	66,000	$	3.90	3.94
42,000	-	$	3.40	4.06
666,836	666,836	$	2.61	1.61
21,000	-	$	2.52	4.50
1,165,000	-	$	2.32	4.29
705,668	372,001	$	1.81	2.26
3,666,671	1,437,337			3.14

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

Year ended	August 31, 2022	August 31, 2021
Risk-free interest rate	1.18%	0.41%
Expected life of options	3.5 years	3.9 years
Annualized volatility1	87%	88%
Forfeiture rate	2.0%	2.0%
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.