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STOCK OPTIONS AND WARRANTS (Tables)
3 Months Ended
Nov. 30, 2020
Stock Options And Warrants [Abstract]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
Expected dividend yield0.00% 
Expected stock volatility149% 
Risk-free interest rate0.40% 
Expected life of options (years)5.00 
Expected forfeiture rate0.00% 
Grant date fair value per option$0.03 
Share-based Payment Arrangement, Option, Activity [Table Text Block]
     Options Outstanding 
     Weighted Average 
  Number of Shares  Exercise Price 
Balance, August 31, 2019  8,320,000 $0.07 
Expired (1,000,000) 0.10 
Issued 2,000,000  0.02 
Balance, August 31, 2020 9,320,000 $0.06 
Expired (1,100,000) 0.05 
Issued 500,000  0.05 
Balance, November 30, 2020 8,720,000 $0.06 
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]

 

November 30, 2020

 

Options outstanding and exercisable

 

Number

Remaining

Exercise prices

of shares

contractual life

$0.05

  500,000

5.00 years

$0.07

  550,000

2.48 years

$0.06

  535,000

2.45 years

$0.05

  800,000

1.91 years

$0.10

  500,000

1.42 years

$0.02

2,000,000*

1.24 years

$0.07

1,500,000

1.17 years

$0.07

1,535,000

1.14 years

$0.07

  800,000

0.80 years

 

 

 

$0.06

8,720,000

1.95 years

 

*As at November 30, 2020 the market price of the Company's common shares was $0.0327 per share. A total of 2,000,000 incentive stock options, exercisable at $0.02, were in the money with an intrinsic value of $25,400.

 

August 31, 2020

 

Options outstanding and exercisable

 

Number

Remaining

Exercise prices

of shares

contractual life

$0.07

550,000

2.73 years

$0.06

535,000

2.70 years

$0.05

800,000

2.16 years

$0.10

500,000

1.67 years

$0.02

2,000,000

1.49 years

$0.07

1,500,000

1.42 years

$0.07

1,535,000

1.39 years

$0.07

800,000

1.05 years

$0.05

1,100,000

0.15 years

 

 

 

$0.06

9,320,000

1.48 years

Schedule of Stockholders' Equity Note, Warrants or Rights, Activity [Table Text Block]
     Warrants Outstanding 
     Weighted Average 
  Number of warrants  Exercise Price 
Balance, August 31, 2019 26,141,459 $0.06 
Expired (12,904,590) 0.07 
Balance, August 31, 2020 and November 30, 2020 13,236,869 $0.05 
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]

 

Number

Outstanding1

 

Exercise

Price

Expiry

Date

6,009,369

 

$0.040

March 27, 2023

2,427,500

 

$0.050

September 21, 2021

4,800,000

 

$0.050

August 31, 2021

13,236,869

 

 

 

1. Each warrant entitles a holder to purchase one common share.