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Related Party Transactions and Balances

12 Months Ended

May 31, 2014

5.	Related Party Transactions and Balances

	a)	The Company recognized bad debt of $63,344 because as of May 31, 2013, the Company was not certain of recoverability of the other receivable due from the former Chairman of the Company.

	b)	During the year ended May 31, 2014, the Company paid its former Chairman management fees in the amount of $nil (2013 - $32,000).

	c)	On July 20, 2012, the Company issued an aggregate of 2,750,000 shares of common stock with a fair value of $286,458 to certain directors, officers and employees as compensation for services rendered from January 1, 2012 through June 30, 2012. See Footnote 7 for common stock.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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