RELATED PARTIES TRANSACTION

6 Months Ended

Feb. 28, 2015

RELATED PARTIES TRANSACTION [Text Block]

8. RELATED PARTIES TRANSACTION

For the six months ended February 28, 2015, the Company was party to the following related party transactions:

• Paid/accrued $39,000 (February 28, 2014: $30,000) to the President of the Company in consulting fees.

• Paid/accrued $45,000 CAD (February 28, 2014: $33,000 CAD) in consulting fees to a company controlled by the CFO of the Company.

• $65,750 was payable to the President and a company controlled by a CFO of the Company.

• Incurred share based compensation expenses of $103,111 in relation to stock options issued to key management personnel (February 28, 2014: $nil).

• See Note 6.

The related party transactions are recorded at the exchange amount established and agreed to between the related parties.