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RELATED PARTIES TRANSACTIONS
3 Months Ended
Nov. 30, 2019
Notes to Financial Statements [Abstract]  
RELATED PARTIES TRANSACTION [Text Block]

5.        RELATED PARTIES TRANSACTION

 

For the three month period ended November 30, 2019, the Company was party to the following related party transactions:

 

  • The Company incurred $10,500 (November 30, 2018: $10,500) to the President of the Company in consulting fees. As at November 30, 2019, the accounts payable to the President of the Company was $217,560 (August 31, 2019: $203,221)
  • During the year ended August 31, 2019, the Company received a short-term loan from the President of the Company in the amount of CAD$20,000 ($15,301). The loan accrues interest at 10% per annum and had an original term of 90 days, to be repaid, with interest, on October 19, 2019. As at the date of these financial statements, the loan and the related interest remains outstanding to the President of the Company. As at November 30, 2019, the total amount owing with respect to the loan was $15,857 (August 31, 2019: $15,479).

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