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STOCK OPTIONS AND WARRANTS (Tables)
6 Months Ended 12 Months Ended
Feb. 28, 2021
Aug. 31, 2020
Share-based Payment Arrangement [Abstract]    
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

Expected dividend yield

0.00%

Expected stock volatility

98%

Risk-free interest rate

0.40%

Expected life of options (years)

5.00

Expected forfeiture rate

0.00%

Grant date fair value per option

$0.06

 

August 31, 2020

August 31, 2019

Expected volatility

163%

N/A

Risk-free interest rate

1.16%

N/A

Expected life

2 years

N/A

Dividend yield

NIL

N/A

Estimated fair value per option

$0.01

N/A

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  
Issued   2,000,000     0.02  
Expired   (1,000,000 )   0.10  
Balance, August 31, 2020   9,320,000   $ 0.06  
Issued   5,000,000     0.10  
Expired   (1,100,000 )   0.05  
Exercised   (2,993,224 )   0.04  
Balance, February 28, 2021   10,226,776   $ 0.08  
              Options Outstanding  
              Weighted Average  
     

Number of Shares

     

Exercise Price

 

Balance, August 31, 2018

    8,570,000     $ 0.07  

Expired

    (250,000 )     0.06  

Balance, August 31, 2019

    8,320,000     $ 0.07  

Granted

    2,000,000       0.02  

Expired

    (1,000,000 )     0.10  

Balance, August 31, 2020

    9,320,000     $ 0.06  
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]

 

February 28, 2021

 

 

Issue Date

Expiry Date

Exercise Price

Number of Options

Remaining Life

September 19, 2016

September 19, 2021

0.07

700,000*

0.56 years

January 20, 2017

January 20, 2022

0.07

1,200,000*

0.89 years

January 31, 2017

January 31, 2022

0.07

1,250,000*

0.92 years

May 2, 2017

May 2, 2022

0.10

500,000*

1.17 years

October 27, 2017

October 27, 2022

0.05

800,000*

1.66 years

May 11, 2018

May 11, 2023

0.06

500,000*

2.20 years

May 22, 2018

May 22, 2023

0.07

550,000*

2.23 years

February 25, 2020

February 25, 2022

0.02

226,776*

0.99 years

December 14, 2020

December 14, 2025

0.05

2,100,000*

4.79 years

January 28, 2021

January 28, 2026

0.14

2,000,000*

4.92 years

February 4, 2021

February 4, 2026

0.18

100,000

4.94 years

February 5, 2021

February 5, 2026

0.18

300,000

4.94 years

 

 

 

 

 

 

 

0.08

10,226,776

2.52 years

*As at February 28, 2021 the market price of the Company's common shares was $0.1426 per share. A total of 9,826,776 incentive stock options were in the money with an intrinsic value of $882,363.

August 31, 2020

 

 

Issue Date

Expiry Date

Exercise Price

Number of Options

Remaining Life

October 23, 2015

October 23, 2020

0.05

1,100,000

0.15 years

September 19, 2016

September 19, 2021

0.07

800,000

1.05 years

January 20, 2017

January 20, 2022

0.07

1,535,000

1.39 years

January 31, 2017

January 31, 2022

0.07

1,500,000

1.42 years

May 2, 2017

May 2, 2022

0.10

500,000

1.67 years

October 27, 2017

October 27, 2022

0.05

800,000

2.16 years

May 11, 2018

May 11, 2023

0.06

535,000

2.70 years

May 22, 2018

May 22, 2023

0.07

550,000

2.73 years

February 25, 2020

February 25, 2022

0.02

2,000,000

1.49 years

 

 

 

 

 

 

 

0.06

9,320,000

1.48 years

 

August 31, 2020

 

Options outstanding and exercisable

 

Number

Remaining

Exercise prices

of shares

contractual life (years)

$0.07

550,000

2.73

$0.06

535,000

2.70

$0.05

800,000

2.16

$0.10

500,000

1.67

$0.02

2,000,000

1.49

$0.07

1,500,000

1.42

$0.07

1,535,000

1.39

$0.07

800,000

1.05

$0.05

1,100,000*

0.15

 

9,320,000

1.48

Schedule of Stockholders' Equity Note, Warrants or Rights, Activity [Table Text Block]
          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   13,236,869   $ 0.06  
Issued   1,500,000     0.09  
Exercised   (40,000 )   0.04  
Balance, February 28, 2021   14,696,869   $ 0.05  
              Warrants Outstanding  
              Weighted Average  
      Number of warrants       Exercise Price  
Balance, August 31, 2018     40,739,060     $ 0.06  
Expired     (23,034,470 )     0.07  
Issued     8,436,869       0.04  
Balance, August 31, 2019     26,141,459     $ 0.06  
Expired     (12,904,590 )     0.07  
Balance, August 31, 2020     13,236,869     $ 0.05  
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]

The Company has the following warrants outstanding: 

February 28, 2021

 

Issue Date

Expiry Date

Exercise Price

Number of Warrants*

August 31, 2018

August 31, 2021

0.05

4,800,000

September 21, 2018

September 21, 2021

0.05

2,427,500

March 27, 2019

March 27, 2023

0.04

5,969,369

January 14, 2021

January 14, 2022

0.09

1,500,000

 

 

 

 

 

 

0.05

14,696,869

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

August 31, 2020

 

Issue Date

Expiry Date

Exercise Price

Number of Warrants*

August 31, 2018

August 31, 2021

0.05

4,800,000

September 21, 2018

September 21, 2021

0.05

2,427,500

March 27, 2019

March 27, 2023

0.04

6,009,369

 

 

 

 

 

 

0.05

13,236,869

 

Number     Exercise       Expiry  
Outstanding1     Price       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                

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