Related Party Transactions

12 Months Ended

May 31, 2022

Related Party Transactions [Abstract]

Related Party Transactions [Text Block]

4. Related Party Transactions

(a) During the year ended May 31, 2022, the Company incurred consulting fees of $15,832 (2021 - $31,536) to a company controlled by the Chief Financial Officer ("CFO") of the Company. As at May 31, 2022, the Company owes $9,521 (2021 - $57,292) to a company controlled by the CFO, which is non-interest bearing, unsecured and due on demand.

(b) As at May 31, 2022, the Company owes $31,743 (2021 - $33,227) to a former Director of the Company, which is non-interest bearing, unsecured and due on demand. This amount has been included in accounts payable as at May 31, 2022.

(c) During the year ended May 31, 2022, the Company incurred consulting fees of $31,301 (2021 - $2,072) to a Director of the Company.

(d) During the year ended May 31, 2022, the Company recorded consulting fees of $110,440 (Cdn$140,000) (2021 - $94,517 (Cdn$120,000)) to a company controlled by the Chief Executive Officer ("CEO") and Director of the Company. As at May 31, 2022, the Company owes $10,263 (2021 - $114,988) to this company, which is non-interest bearing, unsecured and due on demand (see Note 8(a)). As at May 31, 2022, the Company also owes $2,705 (2021 - $3,491) to the CEO for expense reimbursement, which is non-interest bearing, unsecured and due on demand.

(e) On February 28, 2022, the Company acquired a 40% interest in the Frog Property located in Labrador, Canada from 86835 Newfoundland & Labrador Corp., a private company controlled by the CEO and by a Director of the Company. Refer to note 5(b). In connection with this transaction, the CEO of the Company received 12,500,000 shares of common stock and a Director of the Company received 12,500,000 shares of common stock.