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Convertible Debentures and Derivative Liability (Tables)
6 Months Ended
Dec. 31, 2021
Convertible Debentures and Derivative Liability [Abstract]  
Schedule of describes the break-down of the components
   Convertible
debenture
   Derivative liability
- convertible
debenture
conversion
feature
   Warrants value
recorded to
warrants
reserve
   Interest
expenses and
accretion
 
Balance June 30, 2020  $
-
   $
-
   $
-
   $
-
 
Principal value of convertible debenture   865,263    
-
    
-
    
-
 
Discount on proceeds received   (45,263)   
-
    
-
    
-
 
Cash commission   (15,000)   
-
    
-
    
-
 
Allocation to conversion feature   (442,589)   442,589         
-
 
Allocation to warrants   (90,769)        90,769    
-
 
Value at initial recognition   271,642    442,589    90,769    
-
 
Accretion expense   101,565    
-
    
-
    101,565 
Interest expense   38,699    
-
    
-
    38,699 
Amortization of transaction cost   11,233    
-
    2,025    
-
 
Gain on change in fair value of conversion feature derivative liability   
-
    (32,676)   
-
    
-
 
Balance June 30, 2021   423,139    409,913    92,794    140,264 
Accretion expense   91,895    
-
    
-
    91,895 
Interest expense   34,989    
-
    
-
    34,989 
Amortization of transaction cost   47,875    
-
    2,743    50,618 
Gain on change in fair value of conversion feature derivative liability   
-
    (153,155)   
-
    
-
 
Warrants exercised   
-
    
-
    (24,861)   
-
 
Conversion of convertible debenture   (597,898)   (256,758)   
-
    
-
 
Balance December 31, 2021  $
-
   $
-
   $70,676   $317,766 

 

Schedule of dividend yield as well as the risk-free rate, market price; and exercise price
                           Canadian dollars 
Valuation date  Number of warrants   Market price of unit USD   Volatility   Risk-free interest rate   Expected life (yrs.)   Foreign exchange rate   Exercise price   Fair value of a unit   Fair value 
                                     
November 23, 2021   184,000   $7.50    70%   1.58%   5.0    1.2707   $11.91   $5.09   $937,478 
December 31, 2021   184,000   $5.76    70%   1.25%   4.9   $1.2678   $11.89   $3.41   $626,665 
Revaluation                                          $(310,813)

 

Schedule of gain (loss) on derivative liabilities
Periods ended December 31, 2021  Three months   Six months 
Gain on change in fair value of conversion feature derivative liability  $127,527   $153,155 
Gain in reevaluation of derivative warrants   310,813    310,813 
   $438,340   $463,968