SUPPLEMENTAL CASH FLOW INFORMATION

6 Months Ended

Jan. 31, 2014

SUPPLEMENTAL CASH FLOW INFORMATION [Text Block]

NOTE 13: SUPPLEMENTAL CASH FLOW INFORMATION

During the six months ended January 31, 2014, the Company issued 281,299 restricted shares with a fair value of $556,918 for various consulting services.

During the three months ended January 31, 2014, the Company issued 30,386 restricted shares with a fair value of $55,000 to two of the Company’s directors as bonuses.

In connection with the debt financing in July 2013, the Company incurred debt financing costs of $418,477 which were included in accounts payable and accrued liabilities at July 31, 2013. During the six months ended January 31, 2014, the Company paid debt financing costs of $357,497 in cash.