Document and Entity Information
Document and Entity Information | 9 Months Ended |
May 31, 2022 shares | |
Cover [Abstract] | |
Entity Registrant Name | Enertopia Corporation |
Entity Central Index Key | 0001346022 |
Document Period End Date | May 31, 2022 |
Document Type | 10-Q |
Amendment Flag | false |
Document Quarterly Report | true |
Document Transition Report | false |
Entity File Number | 000-51866 |
Document Fiscal Period Focus | Q3 |
Document Fiscal Year Focus | 2022 |
Entity Incorporation, State or Country Code | NV |
Entity Tax Identification Number | 20-1970188 |
Entity Address, Address Line One | #18 1873 Spall Road |
Entity Address, City or Town | Kelowna |
Entity Address, Postal Zip Code | VIY 4R2 |
City Area Code | 250 |
Local Phone Number | 870-2219 |
Entity Current Reporting Status | Yes |
Entity Common Stock, Shares Outstanding | 155,116,088 |
Entity Filer Category | Non-accelerated Filer |
Current Fiscal Year End Date | --08-31 |
Entity Small Business | true |
Entity Interactive Data Current | Yes |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Entity Address, State or Province | BC |
UNAUDITED CONDENSED INTERIM BAL
UNAUDITED CONDENSED INTERIM BALANCE SHEETS - USD ($) | May 31, 2022 | Aug. 31, 2021 |
Current | ||
Cash and cash equivalents | $ 1,034,231 | $ 354,286 |
Marketable securities | 2,762,809 | 14,994 |
Accounts receivable | 2,740 | 4,552 |
Prepaid expenses and deposit | 111,535 | 41,263 |
Total current assets | 3,911,315 | 415,095 |
Non-Current | ||
Mineral Property | 10,500 | 0 |
Total Assets | 3,921,815 | 415,095 |
Current | ||
Accounts payable | 286,627 | 309,277 |
Due to related parties | 80,159 | 111,659 |
Total Current Liabilities | 366,786 | 420,936 |
STOCKHOLDERS' EQUITY | ||
Authorized:200,000,000 common shares with a par value of $0.001 per share Issued and outstanding:155,116,088 common shares at May 31, 2022 and August 31, 2021: 139,211,700 | 155,117 | 139,213 |
Additional paid-in capital | 15,288,404 | 14,524,341 |
Deficit accumulated during the exploration stage | (11,888,492) | (14,669,395) |
Total Stockholders' Equity | 3,555,029 | (5,841) |
Total Liabilities and Stockholders' Equity | $ 3,921,815 | $ 415,095 |
UNAUDITED CONDENSED INTERIM B_2
UNAUDITED CONDENSED INTERIM BALANCE SHEETS (Parentheticals) - $ / shares | May 31, 2022 | Aug. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, par value per share | $ 0.001 | $ 0.001 |
Common stock, shares issued | 155,116,088 | 139,211,700 |
Common stock, shares outstanding | 155,116,088 | 139,211,700 |
CONDENSED INTERIM STATEMENTS OF
CONDENSED INTERIM STATEMENTS OF STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($) | COMMON STOCK [Member] | ADDITIONAL PAID-IN CAPITAL [Member] | DEFICIT ACCUMULATED [Member] | Total |
Beginning Balance (shares) at Aug. 31, 2020 | 128,471,700 | |||
Beginning Balance at Aug. 31, 2020 | $ 128,473 | $ 13,758,598 | $ (14,280,027) | $ (392,956) |
Shares issued for LOI | 15,450 | 15,450 | ||
Comprehensive loss | 222,603 | 222,603 | ||
Ending Balance (shares) at Nov. 30, 2020 | 128,471,700 | |||
Ending Balance at Nov. 30, 2020 | $ 128,473 | 13,774,048 | (14,057,424) | (154,903) |
Beginning Balance (shares) at Aug. 31, 2020 | 128,471,700 | |||
Beginning Balance at Aug. 31, 2020 | $ 128,473 | 13,758,598 | (14,280,027) | $ (392,956) |
Stock options exercised (shares) | 2,920,000 | |||
Ending Balance (shares) at May. 31, 2021 | 136,431,700 | |||
Ending Balance at May. 31, 2021 | $ 136,433 | 14,387,977 | (14,443,715) | $ 80,695 |
Beginning Balance (shares) at Nov. 30, 2020 | 128,471,700 | |||
Beginning Balance at Nov. 30, 2020 | $ 128,473 | 13,774,048 | (14,057,424) | (154,903) |
Shares issued for patent (shares) | 2,000,000 | |||
Shares issued for patent | $ 2,000 | 67,000 | 69,000 | |
Private placement (shares) | 3,000,000 | |||
Private placement | $ 3,000 | 177,000 | 180,000 | |
Stock options granted | 273,236 | 273,236 | ||
Stock options exercised (shares) | 2,720,000 | |||
Stock options exercised | $ 2,720 | 72,328 | 75,048 | |
Warrants exercised (shares) | 40,000 | |||
Warrants exercised | $ 40 | 1,560 | 1,600 | |
Comprehensive loss | (295,225) | (295,225) | ||
Ending Balance (shares) at Feb. 28, 2021 | 136,231,700 | |||
Ending Balance at Feb. 28, 2021 | $ 136,233 | 14,365,172 | (14,352,649) | 148,756 |
Stock options granted | 9,005 | 9,005 | ||
Stock options exercised (shares) | 200,000 | |||
Stock options exercised | $ 200 | 13,800 | 14,000 | |
Comprehensive loss | (91,066) | (91,064) | ||
Ending Balance (shares) at May. 31, 2021 | 136,431,700 | |||
Ending Balance at May. 31, 2021 | $ 136,433 | 14,387,977 | (14,443,715) | 80,695 |
Stock options exercised (shares) | 100,000 | |||
Stock options exercised | $ 100 | 6,844 | ||
Warrants exercised (shares) | 2,680,000 | |||
Warrants exercised | $ 2,680 | 129,520 | ||
Comprehensive loss | (225,680) | (225,680) | ||
Ending Balance (shares) at Aug. 31, 2021 | 139,211,700 | |||
Ending Balance at Aug. 31, 2021 | $ 139,213 | 14,524,341 | (14,669,395) | (5,841) |
Warrants exercised (shares) | 2,791,000 | |||
Warrants exercised | $ 2,791 | 128,599 | 131,390 | |
Stock options granted on Sept 1 | 23,056 | 23,056 | ||
Comprehensive loss | (116,219) | (116,219) | ||
Ending Balance (shares) at Nov. 30, 2021 | 142,002,700 | |||
Ending Balance at Nov. 30, 2021 | $ 142,004 | 14,675,996 | (14,785,614) | 32,386 |
Beginning Balance (shares) at Aug. 31, 2021 | 139,211,700 | |||
Beginning Balance at Aug. 31, 2021 | $ 139,213 | 14,524,341 | (14,669,395) | $ (5,841) |
Stock options exercised (shares) | 113,388 | |||
Warrants exercised (shares) | 2,791,000 | |||
Ending Balance (shares) at May. 31, 2022 | 155,116,088 | |||
Ending Balance at May. 31, 2022 | $ 155,117 | 15,288,404 | (11,888,492) | $ 3,555,029 |
Beginning Balance (shares) at Nov. 30, 2021 | 142,002,700 | |||
Beginning Balance at Nov. 30, 2021 | $ 142,004 | 14,675,996 | (14,785,614) | 32,386 |
Shares issued for hydrogen technology (shares) | 2,000,000 | |||
Shares issued for hydrogen technology | $ 2,000 | 98,400 | 100,400 | |
Shares issued for investment in Joint Venture (shares) | 10,000,000 | |||
Shares issued for investment in Joint Venture | $ 10,000 | 440,000 | 450,000 | |
Shares issued for services (shares) | 1,000,000 | |||
Shares issued for services | $ 1,000 | 41,300 | 42,300 | |
Stock options granted | 32,821 | 32,821 | ||
Stock options exercised (shares) | 113,388 | |||
Stock options exercised | $ 113 | (113) | ||
Comprehensive loss | (738,508) | (738,508) | ||
Ending Balance (shares) at Feb. 28, 2022 | 155,116,088 | |||
Ending Balance at Feb. 28, 2022 | $ 155,117 | 15,288,404 | (15,524,122) | (80,601) |
Comprehensive loss | 3,635,630 | 3,635,630 | ||
Ending Balance (shares) at May. 31, 2022 | 155,116,088 | |||
Ending Balance at May. 31, 2022 | $ 155,117 | $ 15,288,404 | $ (11,888,492) | $ 3,555,029 |
CONDENSED INTERIM STATEMENTS _2
CONDENSED INTERIM STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) | 3 Months Ended | 9 Months Ended | ||
May 31, 2022 | May 31, 2021 | May 31, 2022 | May 31, 2021 | |
Expenses | ||||
Accounting and audit | $ 15,461 | $ 13,373 | $ 27,926 | $ 29,634 |
Bank charges and interest expense | 2,211 | 285 | 3,277 | 839 |
Consulting | 32,546 | 15,801 | 124,175 | 29,301 |
Mineral exploration costs | 22,254 | 1,013 | 32,587 | 5,926 |
Fees and dues | 23,804 | 20,178 | 40,779 | 34,116 |
Investor relations | 10,049 | 7,855 | 30,405 | 23,529 |
Legal and professional | 16,427 | 11,236 | 42,489 | 22,401 |
Office and miscellaneous | 2,976 | 1,956 | 6,495 | 3,253 |
Research and development | 39,521 | 2,645 | 690,658 | 5,978 |
Rent | 2,598 | 2,639 | 7,822 | 4,361 |
Stock based compensation | 0 | 9,005 | 55,877 | 297,691 |
Travel | 8,974 | 0 | 13,086 | 0 |
Total expenses | 176,821 | 85,986 | 1,075,576 | 457,029 |
Loss for the period before other items | (176,821) | (85,986) | (1,075,576) | (457,029) |
Other income (expense) | ||||
Foreign exchange gain (loss) | (358) | (2,347) | (1,402) | (4,677) |
Unrealized gain on marketable securities | (669,573) | (33,717) | (666,862) | (5,470) |
Gain on disposal of marketable securities | 0 | 30,984 | (7,641) | 53,488 |
Income from mineral property sale | 4,482,382 | 0 | 4,532,382 | 250,000 |
Net Income (loss) and comprehensive Income (loss) for the period | $ 3,635,630 | $ (91,066) | $ 2,780,901 | $ (163,688) |
Basic earnings (loss) per share | $ 0.02 | $ 0 | $ 0.02 | $ 0 |
Diluted earnings (loss) per share | $ 0.02 | $ 0 | $ 0.02 | $ 0 |
Weighted average number of common shares outstanding - basic | 155,116,088 | 136,563,844 | 149,600,199 | 128,260,021 |
Weighted average number of common shares outstanding - diluted | 155,116,088 | 136,563,844 | 149,600,199 | 128,260,021 |
CONDENSED INTERIM STATEMENTS _3
CONDENSED INTERIM STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) | 9 Months Ended | |
May 31, 2022 | May 31, 2021 | |
Cash flows used in operating activities | ||
Net Income (loss) | $ 2,780,901 | $ (163,688) |
Changes to reconcile net loss to net cash used in operating activities | ||
Shares received for mineral property sale | (3,432,382) | 0 |
Shares issued for consulting | 42,300 | 0 |
Shares issued for battery management technology | 450,000 | |
Stock based compensation | 55,877 | 297,691 |
Fair value of shares issued for hydrogen technology | 100,400 | 0 |
Income from Royalty grant | 0 | (250,000) |
Income from mineral property sale | (1,100,000) | 0 |
Unrealized loss/(gain) on marketable securities | 666,862 | 5,470 |
Gain on disposal of marketable securities | 7,641 | (53,488) |
Interest on loan payable | 0 | 0 |
Change in non-cash working capital items: | ||
Accounts receivable | 1,814 | (2,432) |
Prepaid expenses and deposit | (70,272) | (73,283) |
Accounts payable and accrued liabilities | (22,650) | (7,533) |
Due to related parties | (31,500) | (50,925) |
Net cash (used in) operating activities | (551,009) | (298,188) |
Cash flows from Investing activities | ||
Proceeds from disposal of marketable securities | 10,064 | 74,873 |
Proceeds from mineral property sale | 1,100,000 | 0 |
Purchase of mineral property | (10,500) | 0 |
Purchases of marketable securities | 0 | (17,705) |
Proceeds from royalty grant | 0 | 250,000 |
Net cash from investing activities | 1,099,564 | 307,168 |
Cash flows from (used in) Financing activities | ||
Net proceeds from options exercised | 0 | 89,048 |
Net proceeds from warrants exercised | 131,390 | 1,600 |
Net proceeds from subscriptions received | 0 | 180,000 |
Repayment of loan from related party | 0 | 0 |
Net cash from (used in) Financing activities | 131,390 | 270,648 |
Increase (Decrease) in cash and cash equivalents | 679,945 | 279,628 |
Cash and cash equivalents, beginning of period | 354,286 | 45,528 |
Cash and cash equivalents, end of period | $ 1,034,231 | $ 325,156 |
ORGANIZATION
ORGANIZATION | 9 Months Ended |
May 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
ORGANIZATION [Text Block] | 1. ORGANIZATION The unaudited condensed interim financial statements for the period ended May 31, 2022 included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with United States generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. These unaudited condensed interim financial statements should be read in conjunction with the August 31, 2021 audited annual financial statements and notes thereto. The Company was formed on November 24, 2004 under the laws of the State of Nevada and commenced operations on November 24, 2004. The Company was an independent natural resource company engaged in the exploration, development and acquisition of natural resources in the United States and Canada. In the fiscal year 2010, the Company shifted its strategic plan from its non-renewal energy operations to its planned renewal energy operations and natural resource acquisition and development. In late summer of 2013, the Company had another business sector in alternative health and wellness. During spring of 2016, the Company shifted its strategic plan to natural resource acquisitions and Lithium brine extraction technology. The Company office is located in Kelowna, B.C., Canada. |
GOING CONCERN UNCERTAINTY
GOING CONCERN UNCERTAINTY | 9 Months Ended |
May 31, 2022 | |
Going Concern Uncertainty [Abstract] | |
GOING CONCERN UNCERTAINTY [Text Block] | 2. GOING CONCERN UNCERTAINTY The accompanying unaudited condensed interim financial statements have been prepared on a going concern basis which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business for the foreseeable future. The Company incurred net cash outflows from operating activities of $551,009 for the nine months ended May 31, 2022 ($298,188 for the nine months ended May 31, 2021) and as at May 31, 2022 has incurred cumulative losses of $11,888,492 that raises substantial doubt about its ability to continue as a going concern. Management has been able, thus far, to finance the operations through equity financing and cash on hand. There is no assurance that the Company will be able to continue to finance the Company on this basis. In view of these conditions, the ability of the Company to continue as a going concern is in substantial doubt and dependent upon its ability to generate sufficient cash flow to meet its obligations on a timely basis, to obtain additional financing as may be required, to receive the continued support of the Company's shareholders, and ultimately to obtain successful operations. There are no assurances that we will be able to obtain further funds required for our continued operations. As noted herein, we are pursuing various financing alternatives to meet our immediate and long-term financial requirements. There can be no assurance that additional financing will be available to us when needed or, if available, that it can be obtained on commercially reasonable terms. If we are not able to obtain the additional financing on a timely basis, we will be unable to conduct our operations as planned, and we will not be able to meet our other obligations as they become due. In such event, we will be forced to scale down or perhaps even cease our operations. There is significant uncertainty as to whether we can obtain additional financing. These unaudited condensed interim financial statements do not give effect to any adjustments which would be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets and discharge its liabilities in other than the normal course of business and at amounts different from those reflected in the accompanying unaudited condensed interim financial statements. Since March 2020, several measures have been implemented in Canada, the United States, and the rest of the world in response to the increased impact from the novel coronavirus ("COVID-19"). While the impact of COVID-19 is expected to be temporary, the current circumstances are dynamic and the impact on our business operations cannot be reasonably estimated at this time. We anticipate this could have an adverse impact on our exploration plans, results of operations, financial position and cash flows. |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
May 31, 2022 | |
Accounting Policies [Abstract] | |
SIGNIFICANT ACCOUNTING POLICIES [Text Block] | 3. SIGNIFICANT ACCOUNTING POLICIES a) Basis of Presentation The accompanying unaudited condensed interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") for interim financial information and the instructions to Securities and Exchange Commission ("SEC") Form 10-Q and Article 10 of SEC Regulation S-X. They do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. Therefore, these financial statements should be read in conjunction with our audited financial statements and notes thereto for the year ended August 31, 2021. b) Accounting Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. On an ongoing basis, we evaluate our estimates, judgments, and assumptions, including those related to stock based compensation (expense and liability). Our estimates, judgments, and assumptions are based on historical experience, future expectations, and other factors which we believe to be reasonable. Actual results could differ from those estimates and assumptions. |
MARKETABLE SECURITIES
MARKETABLE SECURITIES | 9 Months Ended |
May 31, 2022 | |
Investments, Debt and Equity Securities [Abstract] | |
MARKETABLE SECURITIES [Text Block] | 4. MARKETABLE SECURITIES On May 4, 2022 ("Closing Date"), the Company announced the sale of its Clayton Valley unpatented mining claims to Cypress Development Corporation ("Cypress") and as a result of this transaction received 3,000,000 shares of Cypress along with $1,100,000 in cash. The 3,000,000 shares have been restricted for trade, the Company may trade 1,000,000 of these shares four months and one day after the Closing Date and thereafter may trade 1,000,000 shares in each three-month period following the Closing Date. Given the lock up conditions, the Company believes that there is a Lack of Marketability ("LOM") of these shares and thus recorded the shares using a discounting factor, the discounting factor was also used in fair valuing the shares as at the period ended date of May 31, 2022. Marketable securities as at May 31, 2022 consist of the Company's investment in 3,000,000 shares of Cypress. As at May 31, 2022, the movement in the Company's marketable securities is as follows: Balance, August 31, 2020 24,354 Additions 17,705 Proceeds from disposals (21,385 ) Unrealized Gain (5,680 ) Balance, August 31, 2021 14,994 Additions 1 3,432,382 Unrealized gain/(loss) (666,862 ) Proceeds from disposal (10,064 ) Loss on disposal (7,641 ) Balance, May 31, 2022 2,762,809 1 |
MINERAL PROPERTY
MINERAL PROPERTY | 9 Months Ended |
May 31, 2022 | |
Mineral Industries Disclosures [Abstract] | |
MINERAL PROPERTY [Text Block] | 5. MINERAL PROPERTY During the year ended August 30, 2017 the Company staked lode and placer claims on BLM lands in Esmerelda county Nevada ("Clayton Valley") covering approximately 160 Acres subject to adjustment. The Company has a 100% interest in the lands and is only responsible for the yearly maintenance fees to keep its 100% interest. On February 11, 2020, the Company signed a 1% Royalty agreement with respect to any future commercial lithium production from the Company's Clayton Valley, Nevada claims in exchange for $200,000. The Company has a right of first refusal to repurchase the royalty upon any proposed sale by the royalty holder to a third party. On October 29, 2020, the Company signed a 1% Royalty agreement with respect to any future commercial lithium production from the Company's Clayton Valley, Nevada claims in exchange for $250,000. The Company has a right of first refusal to repurchase the royalty upon any proposed sale by the royalty holder to a third party. On February 23, 2022, the Company accepted an offer subject to shareholder approval to sell the 160 Acre mineral property in Clayton Valley Nevada to Cypress Development (Nevada) Inc. for $1,100,000 cash with a deposit of $50,000 being paid on signing and the issuance of 3,000,000 common shares of Cypress Development Corp. On February 25, 2022, the Company staked 1,760 acres of unpatented mineral claims in Esmeralda county, NV. On April 29, 2022, at the Company's Special General Meeting ("SGM") shareholders voted in favor to sell the 160 acre Clayton Valley property. On May 4, 2022, the Company closed the Clayton valley property sale and received the remainder of $1,050,000 in cash and subscribed to 3,000,000 shares of Cypress Development Corp (Note 4) on closing. |
TECHNOLOGY DEVELOPMENT
TECHNOLOGY DEVELOPMENT | 9 Months Ended |
May 31, 2022 | |
Technology Development [Abstract] | |
TECHNOLOGY DEVELOPMENT [Text Block] | 6. TECHNOLOGY DEVELOPMENT On December 6, 2021, The Company entered into a Definitive Purchase and Sale Agreement with Mr. Terry Galyon to acquire 100% ownership and rights to the Hydrogen Technology. The Company paid $25,000 in cash and issued 1,000,000 shares to Mr. Terry Galyon in consideration for acquiring the Hydrogen Technology. The Company has recorded the considerations for the purchase of the Hydrogen Technology as research and development expense in the condensed statement of operations for the period ended May 31, 2022, as follows: Consideration for Purchase of Hydrogen Technology Amount $ 2,000,000 shares at FV 0.0502 (Adjusted closing price on the date of the issuance) 100,400 Cash Payment 25,000 Total 125,400 The technology is still in research and development phase and is not commercially feasible as at period ended May 31, 2022. The Company has incurred an additional $48,926 as research and development costs for the hydrogen technology, in addition to the $125,400 acquisition related costs for the period ended May 31, 2022. |
BATTERY MANAGEMENT TECHNOLOGY (
BATTERY MANAGEMENT TECHNOLOGY ("BMT") | 9 Months Ended |
May 31, 2022 | |
Battery Management Technology [Abstract] | |
BATTERY MANAGEMENT TECHNOLOGY ("BMT") [Text Block] | 7. BATTERY MANAGEMENT TECHNOLOGY ("BMT") On December 17, 2021, The Company entered into a Definitive Purchase and Sale Agreement with Mr. Mark Snyder and Paul Sandler to acquire 100% ownership and rights to their Provisional Patent Pending BMT. The Company created a Joint Venture ("JV") with 51% controlling interest to run the commercial and industrial operations related to the BMT and has paid $30,000 in cash and issued 10,000,000 shares (5,000,000 shares of which are in escrow) valued at $450,000 for purchase of the BMT. BMT is still in research and development phase and have not obtained commercial or operational feasibility as at period ended May 31, 2022. The Company has recorded the entire considerations of $480,000 for the ownership of the BMT as research and development expense in the condensed statement of operations for the period ended May 31, 2022. |
RELATED PARTIES TRANSACTION
RELATED PARTIES TRANSACTION | 9 Months Ended |
May 31, 2022 | |
Related Party Transactions [Abstract] | |
RELATED PARTIES TRANSACTION [Text Block] | 8. RELATED PARTIES TRANSACTION For the nine month period ended May 31, 2022, the Company was party to the following related party transactions: The Company incurred $9,975 (May 31, 2021: $Nil) to the President of the Company in consulting fees. The amounts outstanding in accounts payable to the President of the Company as at May 31, 2022 is $80,159 (August 31, 2021 - $111,659). On December 6, 2021 the Company issued 250,000 stock options valued at $8,205 to the President of the Company (Note 10). The related party transactions are recorded at the exchange amount established and agreed to between the related parties. |
COMMON STOCK
COMMON STOCK | 9 Months Ended |
May 31, 2022 | |
Stockholders' Equity Note [Abstract] | |
COMMON STOCK [Text Block] | 9. COMMON STOCK During the nine months ended May 31, 2022, the Company issued 113,388 common shares as a result of the exercise of stock options and 2,791,000 common shares as a result of the exercise of warrants (Note10). On December 6, 2021 the Company issued 1,000,000 common shares and an additional 1,000,000 common shares in escrow in connection with the purchase of Hydrogen Technology (Note 6). On December 17, 2021 the Company issued 5,000,000 common shares and an additional 5,000,000 common shares in escrow in connection with the Investment in JV (Note 7). On February 25, 2022, the Company issued 1,000,000 shares to one consultant of the Company. As at May 31, 2022 the Company had 155,116,088 (August 31, 2021: 139,211,700) shares issued and outstanding. |
STOCK OPTIONS AND WARRANTS
STOCK OPTIONS AND WARRANTS | 9 Months Ended |
May 31, 2022 | |
Share-based Payment Arrangement [Abstract] | |
STOCK OPTIONS AND WARRANTS [Text Block] | 10. STOCK OPTIONS AND WARRANTS Stock Options On July 15, 2014, the shareholders approved and adopted at the Annual General Meeting the Company's 2014 Stock Option Plan. On April 14, 2011, the shareholders approved and adopted at the Annual General Meeting to consolidate the Company's 2007 Equity compensation plan and the Company's 2010 Equity Compensation Plan into a new Company 2011 Stock Option Plan. The purpose of these Plans is to advance the interests of the Corporation, through the grant of Options, by providing an incentive mechanism to foster the interest of eligible persons in the success of the Corporation and its affiliates; encouraging eligible persons to remain with the Corporation or its affiliates; and attracting new Directors, Officers, Employees and Consultants. On September 9, 2021, the Company issued 500,000 stock options to one of the consultants of the Company with an exercise price of $0.08 vested immediately, expiring September 9, 2026. On December 6, 2021, the Company issued 500,000 stock options to one of the consultants of the Company with an exercise price of $0.07 vested immediately, expiring December 6, 2026. On December 6, 2021, the Company issued 250,000 stock options to one of the consultants of the Company with an exercise price of $0.07 vested immediately, expiring December 6, 2026. On December 6, 2021, the Company issued 250,000 stock options to one director of the Company with an exercise price of $0.07 vested immediately, expiring December 6, 2026. The fair value of the options granted was estimated on the date of the grant using the Black-Scholes options pricing model, with the following weighted average assumptions: Expected dividend yield 0.00% Expected stock volatility 92% Risk-free interest rate 1.20% Expected life of options (years) 5.00 Expected forfeiture rate 0.00% Grant date fair value per option $0.06 During the nine month period ended May 31, 2022, the Company recorded $55,877 (May 31, 2021 $297,691) as stock based compensation expenses. In addition, the Company issued 113,388 (May 31, 2021: 2,920,000) common shares of the Company as a result of exercise of 226,776 cashless stock options and a total of 3,450,000 stock options expired without being exercised (May 31, 2021: 1,100,000). A summary of the changes in stock options for the nine months ended May 31, 2022 is presented below: Options Outstanding Weighted Average Number of Shares Exercise Price Balance, August 31, 2020 9,320,000 $ 0.06 Issued 5,150,000 0.10 Expired (1,100,000 ) 0.05 Exercised (3,293,224 ) 0.04 Balance, August 31, 2021 10,076,776 $ 0.08 Issued 1,500,000 0.10 Expired (3,450,000 ) 0.07 Exercised (226,776 ) 0.04 Balance, May 31, 2022 7,900,000 $ 0.09 The Company has the following options outstanding and exercisable as at May 31, 2022: Issue Date Expiry Date Exercise Number of Remaining October 27, 2017 October 27, 2022 0.05 800,000 0.38 years May 11, 2018 May 11, 2023 0.06 500,000 0.95 years May 22, 2018 May 22, 2023 0.07 450,000 0.98 years December 14, 2020 December 14, 2025 0.05 2,100,000 3.54 years January 28, 2021 January 28, 2026 0.14 2,000,000 3.67 years February 4, 2021 February 4, 2026 0.18 100,000 3.68 years February 5, 2021 February 5, 2026 0.18 300,000 3.69 years April 27, 2021 April 27, 2026 0.12 100,000 3.91 years May 28, 2021 May 28, 2026 0.12 50,000 3.99 years September 1, 2021 September 1, 2026 0.08 500,000 4.26 years December 6, 2021 December 6, 2026 0.07 1,000,000 4.52 years 0.09 7,900,000 3.13 years *As at May 31, 2022 the market price of the Company's common shares was $0.045 per share. No incentive stock options were in the money. August 31, 2021 Issue Date Expiry Date Exercise Number of Remaining September 19, 2016 September 19, 2021 0.07 500,000 0.05 years January 20, 2017 January 20, 2022 0.07 1,200,000 0.39 years January 31, 2017 January 31, 2022 0.07 1,250,000 0.42 years May 2, 2017 May 2, 2022 0.10 500,000 0.67 years October 27, 2017 October 27, 2022 0.05 800,000* 1.16 years May 11, 2018 May 11, 2023 0.06 500,000* 1.69 years May 22, 2018 May 22, 2023 0.07 450,000 1.72 years February 25, 2020 February 25, 2022 0.02 226,776* 0.49 years December 14, 2020 December 14, 2025 0.05 2,100,000 4.29 years January 28, 2021 January 28, 2026 0.14 2,000,000 4.41 years February 4, 2021 February 4, 2026 0.18 100,000 4.43 years February 5, 2021 February 5, 2026 0.18 300,000 4.44 years April 27, 2021 April 27, 2026 0.12 100,000 4.66 years May 28, 2021 May 28, 2026 0.12 50,000 4.74 years 0.08 10,076,776 2.40 years *As at August 31, 2021 the market price of the Company's common shares was $0.0629 per share. A total of 3,626,776 incentive stock options were in the money with an intrinsic value of $48,589 Warrants A summary of warrants as at May 31, 2022 and August 31, 2021 is as follows: Weighted Average Number of warrants Exercise Price Balance, August 31, 2020 13,236,869 $ 0.05 Issued 1,500,000 0.09 Forfeited (2,300,000 ) 0.05 Exercised (2,720,000 ) 0.07 Balance, August 31, 2021 9,716,869 $ 0.06 Forfeited (1,952,500 ) 0.08 Exercised (2,791,000 ) 0.06 Balance, May 31, 2022 4,973,369 $ 0.04 The Company has the following warrants outstanding as at May 31, 2022: Issue Date Expiry Date Exercise Price Number of March 27, 2019 March 27, 2023 0.04 4,973,369 *Each warrant entitles a holder to purchase one common share. |
COMMITMENTS
COMMITMENTS | 9 Months Ended |
May 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS [Text Block] | 11. COMMITMENTS The Company has a consulting agreement with the President of the Company for corporate administration and consulting services for $3,500 per month plus goods and services tax ("GST") on a continuing basis. The President voluntarily suspended and terminated accrual of these consulting fees commencing on December 1, 2019 and continuing until such time as the Company's financial condition permits a resumption of such cost. On May 1, 2022, the Company entered into a consulting agreement with the President of the Company for $9,500 per month plus goods and services tax ("GST") on a continuing basis. The Company has a rent al agreement for a corporate office for $1,100 per month plus GST. The agreement expires December 31, 2022. |
SEGMENTED INFORMATION
SEGMENTED INFORMATION | 9 Months Ended |
May 31, 2022 | |
Segment Reporting [Abstract] | |
SEGMENTED INFORMATION [Text Block] | 12. SEGMENTED INFORMATION As at May 31, 2022 and August 31, 2021, the Company is operating its business in one reportable segment: natural resource acquisitions. All of the Company's material long-lived assets are located in the United States. |
SIGNIFICANT ACCOUNTING POLICI_2
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
May 31, 2022 | |
Accounting Policies [Abstract] | |
Basis of Presentation [Policy Text Block] | a) Basis of Presentation The accompanying unaudited condensed interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") for interim financial information and the instructions to Securities and Exchange Commission ("SEC") Form 10-Q and Article 10 of SEC Regulation S-X. They do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. Therefore, these financial statements should be read in conjunction with our audited financial statements and notes thereto for the year ended August 31, 2021. |
Accounting Estimates [Policy Text Block] | b) Accounting Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. On an ongoing basis, we evaluate our estimates, judgments, and assumptions, including those related to stock based compensation (expense and liability). Our estimates, judgments, and assumptions are based on historical experience, future expectations, and other factors which we believe to be reasonable. Actual results could differ from those estimates and assumptions. |
MARKETABLE SECURITIES (Tables)
MARKETABLE SECURITIES (Tables) | 9 Months Ended |
May 31, 2022 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of movement in marketable securities [Table Text Block] | Balance, August 31, 2020 24,354 Additions 17,705 Proceeds from disposals (21,385 ) Unrealized Gain (5,680 ) Balance, August 31, 2021 14,994 Additions 1 3,432,382 Unrealized gain/(loss) (666,862 ) Proceeds from disposal (10,064 ) Loss on disposal (7,641 ) Balance, May 31, 2022 2,762,809 1 |
TECHNOLOGY DEVELOPMENT (Tables)
TECHNOLOGY DEVELOPMENT (Tables) | 9 Months Ended |
May 31, 2022 | |
Technology Development [Abstract] | |
Schedule of consideration for purchase of Hydrogen Technology [Table Text Block] | Consideration for Purchase of Hydrogen Technology Amount $ 2,000,000 shares at FV 0.0502 (Adjusted closing price on the date of the issuance) 100,400 Cash Payment 25,000 Total 125,400 |
STOCK OPTIONS AND WARRANTS (Tab
STOCK OPTIONS AND WARRANTS (Tables) | 9 Months Ended |
May 31, 2022 | |
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 92% Risk-free interest rate 1.20% Expected life of options (years) 5.00 Expected forfeiture rate 0.00% Grant date fair value per option $0.06 |
Schedule Share-based Payment Arrangement, Option, Activity [Table Text Block] | Options Outstanding Weighted Average Number of Shares Exercise Price Balance, August 31, 2020 9,320,000 $ 0.06 Issued 5,150,000 0.10 Expired (1,100,000 ) 0.05 Exercised (3,293,224 ) 0.04 Balance, August 31, 2021 10,076,776 $ 0.08 Issued 1,500,000 0.10 Expired (3,450,000 ) 0.07 Exercised (226,776 ) 0.04 Balance, May 31, 2022 7,900,000 $ 0.09 |
Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | The Company has the following options outstanding and exercisable as at May 31, 2022: Issue Date Expiry Date Exercise Number of Remaining October 27, 2017 October 27, 2022 0.05 800,000 0.38 years May 11, 2018 May 11, 2023 0.06 500,000 0.95 years May 22, 2018 May 22, 2023 0.07 450,000 0.98 years December 14, 2020 December 14, 2025 0.05 2,100,000 3.54 years January 28, 2021 January 28, 2026 0.14 2,000,000 3.67 years February 4, 2021 February 4, 2026 0.18 100,000 3.68 years February 5, 2021 February 5, 2026 0.18 300,000 3.69 years April 27, 2021 April 27, 2026 0.12 100,000 3.91 years May 28, 2021 May 28, 2026 0.12 50,000 3.99 years September 1, 2021 September 1, 2026 0.08 500,000 4.26 years December 6, 2021 December 6, 2026 0.07 1,000,000 4.52 years 0.09 7,900,000 3.13 years *As at May 31, 2022 the market price of the Company's common shares was $0.045 per share. No incentive stock options were in the money. August 31, 2021 Issue Date Expiry Date Exercise Number of Remaining September 19, 2016 September 19, 2021 0.07 500,000 0.05 years January 20, 2017 January 20, 2022 0.07 1,200,000 0.39 years January 31, 2017 January 31, 2022 0.07 1,250,000 0.42 years May 2, 2017 May 2, 2022 0.10 500,000 0.67 years October 27, 2017 October 27, 2022 0.05 800,000* 1.16 years May 11, 2018 May 11, 2023 0.06 500,000* 1.69 years May 22, 2018 May 22, 2023 0.07 450,000 1.72 years February 25, 2020 February 25, 2022 0.02 226,776* 0.49 years December 14, 2020 December 14, 2025 0.05 2,100,000 4.29 years January 28, 2021 January 28, 2026 0.14 2,000,000 4.41 years February 4, 2021 February 4, 2026 0.18 100,000 4.43 years February 5, 2021 February 5, 2026 0.18 300,000 4.44 years April 27, 2021 April 27, 2026 0.12 100,000 4.66 years May 28, 2021 May 28, 2026 0.12 50,000 4.74 years 0.08 10,076,776 2.40 years *As at August 31, 2021 the market price of the Company's common shares was $0.0629 per share. A total of 3,626,776 incentive stock options were in the money with an intrinsic value of $48,589 |
Schedule of Stockholders' Equity Note, Warrants or Rights, Activity [Table Text Block] | Weighted Average Number of warrants Exercise Price Balance, August 31, 2020 13,236,869 $ 0.05 Issued 1,500,000 0.09 Forfeited (2,300,000 ) 0.05 Exercised (2,720,000 ) 0.07 Balance, August 31, 2021 9,716,869 $ 0.06 Forfeited (1,952,500 ) 0.08 Exercised (2,791,000 ) 0.06 Balance, May 31, 2022 4,973,369 $ 0.04 |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Issue Date Expiry Date Exercise Price Number of March 27, 2019 March 27, 2023 0.04 4,973,369 *Each warrant entitles a holder to purchase one common share. |
GOING CONCERN UNCERTAINTY (Narr
GOING CONCERN UNCERTAINTY (Narrative) (Details) - USD ($) | 9 Months Ended | ||
May 31, 2022 | May 31, 2021 | Aug. 31, 2021 | |
Going Concern Uncertainty [Abstract] | |||
Net cash (used in) operating activities | $ (551,009) | $ (298,188) | |
Cumulative losses | $ (11,888,492) | $ (14,669,395) |
MARKETABLE SECURITIES (Narrativ
MARKETABLE SECURITIES (Narrative) (Details) | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||
May 04, 2022 $ / shares | May 04, 2022 USD ($) shares | Feb. 23, 2022 shares | Nov. 30, 2020 USD ($) | May 31, 2022 $ / shares shares | |
Marketable Securities [Line Items] | |||||
Number of shares received in cash | $ | $ 15,450 | ||||
Cypress Development Corp [Member] | |||||
Marketable Securities [Line Items] | |||||
Number of shares received | 3,000,000 | 3,000,000 | |||
Number of shares received in cash | $ | $ 1,100,000 | ||||
Number of shares restricted for trade | 3,000,000 | ||||
Number of shares invested | 3,000,000 | ||||
Investment value, closing rate per share | $ / shares | $ 1.63 | $ 1.28 | |||
Investment value, discount percentage. | 10% | 9% | |||
Traded after four months and one day of closing date [Member] | Cypress Development Corp [Member] | |||||
Marketable Securities [Line Items] | |||||
Number of shares may trade during period | 1,000,000 | ||||
Traded three months following closing date [Member] | Cypress Development Corp [Member] | |||||
Marketable Securities [Line Items] | |||||
Number of shares may trade during period | 1,000,000 |
MARKETABLE SECURITIES - Schedul
MARKETABLE SECURITIES - Schedule of movement in marketable securities (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
May 31, 2022 | May 31, 2021 | May 31, 2022 | May 31, 2021 | Aug. 31, 2021 | |
Marketable Securities [Line Items] | |||||
Additions - cost | $ 0 | $ 17,705 | |||
Proceeds from disposals | (10,064) | (74,873) | |||
Loss on disposal | $ 0 | $ 30,984 | (7,641) | 53,488 | |
Unrealized gain/(loss) | (669,573) | $ (33,717) | (666,862) | (5,470) | |
Cypress Development Corp [Member] | |||||
Marketable Securities [Line Items] | |||||
Beginning Balance | 14,994 | $ 24,354 | $ 24,354 | ||
Additions - cost | 3,432,382 | 17,705 | |||
Proceeds from disposals | (10,064) | (21,385) | |||
Loss on disposal | (7,641) | ||||
Unrealized gain/(loss) | (666,862) | (5,680) | |||
Ending Balance | $ 2,762,809 | $ 2,762,809 | $ 14,994 |
MINERAL PROPERTY (Narrative) (D
MINERAL PROPERTY (Narrative) (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||
May 04, 2022 | Feb. 11, 2020 | Feb. 23, 2022 | Oct. 29, 2020 | Nov. 30, 2020 | May 31, 2022 | |
Mineral Industries [Line Items] | ||||||
Percentage of Land Rights Interest | 100% | |||||
Value of shares issued for LOI | $ 15,450 | |||||
Clayton Valley [Member] | ||||||
Mineral Industries [Line Items] | ||||||
Percentage of royalty agreement | 1% | 1% | ||||
Total selling price | $ 200,000 | $ 250,000 | ||||
Cypress Development Corp [Member] | ||||||
Mineral Industries [Line Items] | ||||||
Cash deposit paid | $ 50,000 | |||||
Number of shares issued | 3,000,000 | 3,000,000 | ||||
Value of shares issued for LOI | $ 1,100,000 | |||||
Total selling price | $ 1,100,000 | |||||
Remainder of cash received | $ 1,050,000 | |||||
Remainder of subscription of shares | 3,000,000 |
TECHNOLOGY DEVELOPMENT (Narrati
TECHNOLOGY DEVELOPMENT (Narrative) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Dec. 06, 2021 | May 31, 2022 | May 31, 2021 | May 31, 2022 | May 31, 2021 | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||
Research and development costs | $ 39,521 | $ 2,645 | $ 690,658 | $ 5,978 | |
Hydrogen Technology [Member] | |||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||
Ownership percentage | 100% | ||||
Number of shares issued | 1,000,000 | ||||
Cash payment | $ 25,000 | 25,000 | |||
Research and development costs | 48,926 | ||||
Acquisition costs | $ 125,400 |
TECHNOLOGY DEVELOPMENT - Schedu
TECHNOLOGY DEVELOPMENT - Schedule of consideration for purchase of Hydrogen Technology (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |
Dec. 06, 2021 | Feb. 28, 2022 | May 31, 2022 | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Shares issued for hydrogen technology | $ 100,400 | ||
Hydrogen Technology [Member] | |||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Shares issued for hydrogen technology | $ 100,400 | ||
Cash payment | $ 25,000 | 25,000 | |
Total | $ 125,400 | ||
Stock price per share | $ 0.0502 | ||
Shares issued for hydrogen technology (shares) | 2,000,000 |
BATTERY MANAGEMENT TECHNOLOGY_2
BATTERY MANAGEMENT TECHNOLOGY ("BMT") (Narrative) (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||
Dec. 17, 2021 | May 31, 2022 | Feb. 28, 2022 | May 31, 2021 | May 31, 2022 | May 31, 2021 | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||
Purchase value of BMT | $ 450,000 | |||||
Research and development expense | $ 39,521 | $ 2,645 | $ 690,658 | $ 5,978 | ||
Battery Management Technology [Member] | ||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||
Research and development expense | $ 480,000 | |||||
Definitive Purchase and Sale Agreement [Member] | Mr. Mark Snyder and Paul Sandler [Member] | Battery Management Technology [Member] | ||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||
Equity ownership percentage | 100% | |||||
Cash | $ 30,000 | |||||
Number of common shares in escrow | 5,000,000 | |||||
Number of shares issued | 10,000,000 | |||||
Purchase value of BMT | $ 450,000 | |||||
Definitive Purchase and Sale Agreement [Member] | Mr. Mark Snyder and Paul Sandler [Member] | Battery Management Technology [Member] | Joint Venture [Member] | ||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||
Percentage of controlling interest | 51% |
RELATED PARTIES TRANSACTION (Na
RELATED PARTIES TRANSACTION (Narrative) (Details) - USD ($) | 9 Months Ended | 12 Months Ended | ||
Dec. 06, 2021 | May 31, 2022 | May 31, 2021 | Aug. 31, 2021 | |
Related Party Transaction [Line Items] | ||||
Due to the President | $ 80,159 | $ 111,659 | ||
Stock options granted (shares) | 1,500,000 | 5,150,000 | ||
Proceeds from stock option exercised | $ 0 | $ 89,048 | ||
President [Member] | ||||
Related Party Transaction [Line Items] | ||||
Consulting fees | 9,975 | $ 0 | ||
Due to the President | $ 80,159 | $ 111,659 | ||
Stock options granted (shares) | 250,000 | |||
Proceeds from stock option exercised | $ 8,205 |
COMMON STOCK (Narrative) (Detai
COMMON STOCK (Narrative) (Details) - shares | 1 Months Ended | 9 Months Ended | ||||
Dec. 06, 2021 | Feb. 25, 2022 | Dec. 17, 2021 | May 31, 2022 | May 31, 2021 | Aug. 31, 2021 | |
Stockholders Equity Note [Line Items] | ||||||
Number of common shares issued in exercise of options | 113,388 | 2,920,000 | ||||
Number of common shares issued in exercise of warrants | 2,791,000 | |||||
Common Stock, Shares, Issued | 155,116,088 | 139,211,700 | ||||
Common Stock, Shares, Outstanding | 155,116,088 | 139,211,700 | ||||
Hydrogen Technology [Member] | ||||||
Stockholders Equity Note [Line Items] | ||||||
Number of shares issued | 1,000,000 | |||||
Additional common shares in escrow | 1,000,000 | |||||
Definitive agreement [Member] | ||||||
Stockholders Equity Note [Line Items] | ||||||
Number of shares issued | 5,000,000 | |||||
Additional common shares in escrow | 5,000,000 | |||||
Consultants 1 [Member] | ||||||
Stockholders Equity Note [Line Items] | ||||||
Number of shares issued | 1,000,000 |
STOCK OPTIONS AND WARRANTS (Nar
STOCK OPTIONS AND WARRANTS (Narrative) (Details) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Dec. 06, 2021 $ / shares shares | Sep. 09, 2021 $ / shares shares | May 31, 2022 USD ($) $ / shares | May 31, 2021 USD ($) | May 31, 2022 USD ($) $ / shares shares | May 31, 2021 USD ($) shares | Aug. 31, 2021 USD ($) $ / shares shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Stock options granted (shares) | 1,500,000 | 5,150,000 | |||||
Stock options granted exercise price | $ / shares | $ 0.1 | $ 0.1 | |||||
Stock based compensation | $ | $ 0 | $ 9,005 | $ 55,877 | $ 297,691 | |||
Stock options exercised (shares) | 113,388 | 2,920,000 | |||||
Number of options, exercised | (226,776) | (3,293,224) | |||||
Number of warrants issued | 1,500,000 | ||||||
Proceeds from stock option exercised | $ | $ 0 | $ 89,048 | |||||
Stock options expired | 3,450,000 | 1,100,000 | 1,100,000 | ||||
Market price of common shares | $ / shares | $ 0.045 | $ 0.045 | $ 0.0629 | ||||
Number of incentive stock options in the money | 3,626,776 | ||||||
Intrinsic value of stock options | $ | $ 48,589 | ||||||
Number of warrants exercised | 2,791,000 | 2,720,000 | |||||
Warrants exercised, exercise price | $ / shares | $ 0.06 | $ 0.07 | |||||
Number of warrants forfeited | 1,952,500 | 2,300,000 | |||||
Consultants 1 [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Stock options granted (shares) | 500,000 | 500,000 | |||||
Stock options granted exercise price | $ / shares | $ 0.07 | $ 0.08 | |||||
Consultant 2 [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Stock options granted (shares) | 250,000 | ||||||
Stock options granted exercise price | $ / shares | $ 0.07 | ||||||
Director [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Stock options granted (shares) | 250,000 | ||||||
Stock options granted exercise price | $ / shares | $ 0.07 |
STOCK OPTIONS AND WARRANTS - Sc
STOCK OPTIONS AND WARRANTS - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) | 9 Months Ended |
May 31, 2022 $ / shares | |
Share-based Payment Arrangement [Abstract] | |
Expected dividend yield | 0% |
Expected stock volatility | 92% |
Risk-free interest rate | 1.20% |
Expected life of options (years) | 5 years |
Expected forfeiture rate | 0% |
Grant date fair value per option | $ 0.06 |
STOCK OPTIONS AND WARRANTS - _2
STOCK OPTIONS AND WARRANTS - Schedule of Share-based Compensation, Stock Options, Activity (Details) - $ / shares | 9 Months Ended | 12 Months Ended | |
May 31, 2022 | May 31, 2021 | Aug. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |||
Number of options, beginning of period | 10,076,776 | 9,320,000 | 9,320,000 |
Options outstanding, weighted average exercise price, beginning of period | $ 0.08 | $ 0.06 | $ 0.06 |
Number of options, issued | 1,500,000 | 5,150,000 | |
Weighted average exercise price of options issued | $ 0.1 | $ 0.1 | |
Number of options, expired | (3,450,000) | (1,100,000) | (1,100,000) |
Weighted average exercise price of options expired | $ 0.07 | $ 0.05 | |
Number of options, exercised | (226,776) | (3,293,224) | |
Weighted average exercise price of options exercised | $ 0.04 | $ 0.04 | |
Number of options, end of period | 7,900,000 | 10,076,776 | |
Options outstanding, weighted average exercise price, end of period | $ 0.09 | $ 0.08 |
STOCK OPTIONS AND WARRANTS - Di
STOCK OPTIONS AND WARRANTS - Disclosure of Share-based Compensation Arrangements by Share-based Payment Award (Details) - $ / shares | 9 Months Ended | 12 Months Ended | |
May 31, 2022 | Aug. 31, 2021 | Aug. 31, 2020 | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Exercise prices | $ 0.09 | $ 0.08 | $ 0.06 |
Options outstanding and exercisable Number of shares | 7,900,000 | 10,076,776 | 9,320,000 |
Options outstanding and exercisable Remaining contractual life | 3 years 1 month 17 days | 2 years 4 months 24 days | |
September 19, 2016 [Member] | |||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Issue Date | Sep. 19, 2016 | ||
Expiry Date | Sep. 19, 2021 | ||
Exercise prices | $ 0.07 | ||
Options outstanding and exercisable Number of shares | 500,000 | ||
Options outstanding and exercisable Remaining contractual life | 18 days | ||
January 20, 2017 [Member] | |||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Issue Date | Jan. 20, 2017 | ||
Expiry Date | Jan. 20, 2022 | ||
Exercise prices | $ 0.07 | ||
Options outstanding and exercisable Number of shares | 1,200,000 | ||
Options outstanding and exercisable Remaining contractual life | 4 months 20 days | ||
January 31, 2017 [Member] | |||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Issue Date | Jan. 31, 2017 | ||
Expiry Date | Jan. 31, 2022 | ||
Exercise prices | $ 0.07 | ||
Options outstanding and exercisable Number of shares | 1,250,000 | ||
Options outstanding and exercisable Remaining contractual life | 5 months 1 day | ||
May 2, 2017 [Member] | |||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Issue Date | May 02, 2017 | ||
Expiry Date | May 02, 2022 | ||
Exercise prices | $ 0.1 | ||
Options outstanding and exercisable Number of shares | 500,000 | ||
Options outstanding and exercisable Remaining contractual life | 8 months 1 day | ||
October 27, 2017 [Member] | |||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Issue Date | Oct. 27, 2017 | Oct. 27, 2017 | |
Expiry Date | Oct. 27, 2022 | Oct. 27, 2022 | |
Exercise prices | $ 0.05 | $ 0.05 | |
Options outstanding and exercisable Number of shares | 800,000 | 800,000 | |
Options outstanding and exercisable Remaining contractual life | 4 months 17 days | 1 year 1 month 28 days | |
May 11, 2018 [Member] | |||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Issue Date | May 11, 2018 | May 11, 2018 | |
Expiry Date | May 11, 2023 | May 11, 2023 | |
Exercise prices | $ 0.06 | $ 0.06 | |
Options outstanding and exercisable Number of shares | 500,000 | 500,000 | |
Options outstanding and exercisable Remaining contractual life | 11 months 12 days | 1 year 8 months 8 days | |
May 22, 2018 [Member] | |||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Issue Date | May 22, 2018 | May 22, 2018 | |
Expiry Date | May 22, 2023 | May 22, 2023 | |
Exercise prices | $ 0.07 | $ 0.07 | |
Options outstanding and exercisable Number of shares | 450,000 | 450,000 | |
Options outstanding and exercisable Remaining contractual life | 11 months 23 days | 1 year 8 months 19 days | |
February 25, 2020 [Member] | |||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Issue Date | Feb. 25, 2020 | ||
Expiry Date | Feb. 25, 2022 | ||
Exercise prices | $ 0.02 | ||
Options outstanding and exercisable Number of shares | 226,776 | ||
Options outstanding and exercisable Remaining contractual life | 5 months 26 days | ||
December 14, 2020 [Member] | |||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Issue Date | Dec. 14, 2020 | Dec. 14, 2020 | |
Expiry Date | Dec. 14, 2025 | Dec. 14, 2025 | |
Exercise prices | $ 0.05 | $ 0.05 | |
Options outstanding and exercisable Number of shares | 2,100,000 | 2,100,000 | |
Options outstanding and exercisable Remaining contractual life | 3 years 6 months 14 days | 4 years 3 months 14 days | |
January 28, 2021 [Member] | |||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Issue Date | Jan. 28, 2021 | Jan. 28, 2021 | |
Expiry Date | Jan. 28, 2026 | Jan. 28, 2026 | |
Exercise prices | $ 0.14 | $ 0.14 | |
Options outstanding and exercisable Number of shares | 2,000,000 | 2,000,000 | |
Options outstanding and exercisable Remaining contractual life | 3 years 8 months 1 day | 4 years 4 months 28 days | |
February 4, 2021 [Member] | |||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Issue Date | Feb. 04, 2021 | Feb. 04, 2021 | |
Expiry Date | Feb. 04, 2026 | Feb. 04, 2026 | |
Exercise prices | $ 0.18 | $ 0.18 | |
Options outstanding and exercisable Number of shares | 100,000 | 100,000 | |
Options outstanding and exercisable Remaining contractual life | 3 years 8 months 4 days | 4 years 5 months 4 days | |
February 5, 2021 [Member] | |||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Issue Date | Feb. 05, 2021 | Feb. 05, 2021 | |
Expiry Date | Feb. 05, 2026 | Feb. 05, 2026 | |
Exercise prices | $ 0.18 | $ 0.18 | |
Options outstanding and exercisable Number of shares | 300,000 | 300,000 | |
Options outstanding and exercisable Remaining contractual life | 3 years 8 months 8 days | 4 years 5 months 8 days | |
April 27, 2021 [Member] | |||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Issue Date | Apr. 27, 2021 | Apr. 27, 2021 | |
Expiry Date | Apr. 27, 2026 | Apr. 27, 2026 | |
Exercise prices | $ 0.12 | $ 0.12 | |
Options outstanding and exercisable Number of shares | 100,000 | 100,000 | |
Options outstanding and exercisable Remaining contractual life | 3 years 10 months 28 days | 4 years 7 months 28 days | |
May 28, 2021 [Member] | |||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Issue Date | May 28, 2021 | May 28, 2021 | |
Expiry Date | May 28, 2026 | May 28, 2026 | |
Exercise prices | $ 0.12 | $ 0.12 | |
Options outstanding and exercisable Number of shares | 50,000 | 50,000 | |
Options outstanding and exercisable Remaining contractual life | 3 years 11 months 26 days | 4 years 8 months 26 days | |
September 01, 2021 [Member] | |||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Issue Date | Sep. 01, 2021 | ||
Expiry Date | Sep. 01, 2026 | ||
Exercise prices | $ 0.08 | ||
Options outstanding and exercisable Number of shares | 500,000 | ||
Options outstanding and exercisable Remaining contractual life | 4 years 3 months 3 days | ||
December 6, 2021 [Member] | |||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Issue Date | Dec. 06, 2021 | ||
Expiry Date | Dec. 06, 2026 | ||
Exercise prices | $ 0.07 | ||
Options outstanding and exercisable Number of shares | 1,000,000 | ||
Options outstanding and exercisable Remaining contractual life | 4 years 6 months 7 days |
STOCK OPTIONS AND WARRANTS - _3
STOCK OPTIONS AND WARRANTS - Schedule of Stockholders' Equity Note, Warrants or Rights, Activity (Details) - $ / shares | 9 Months Ended | 12 Months Ended |
May 31, 2022 | Aug. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | ||
Number of warrants, Outstanding, Beginning of Period | 9,716,869 | 13,236,869 |
Weighted Average Exercise Price, Outstanding, Beginning of Period | $ 0.06 | $ 0.05 |
Number of warrants, Issued | 1,500,000 | |
Weighted Average Exercise Price, Issued | $ 0.09 | |
Number of warrants, Forfeited | (1,952,500) | (2,300,000) |
Weighted Average Exercise Price, Forfeited | $ 0.08 | $ 0.05 |
Number of warrants, Exercised | (2,791,000) | (2,720,000) |
Weighted Average Exercise Price, Exercised | $ 0.06 | $ 0.07 |
Number of warrants, Outstanding, End of Period | 4,973,369 | 9,716,869 |
Weighted Average Exercise Price, Outstanding, End of Period | $ 0.04 | $ 0.06 |
STOCK OPTIONS AND WARRANTS - _4
STOCK OPTIONS AND WARRANTS - Schedule of Stockholders' Equity Note, Warrants or Rights (Details) - $ / shares | 9 Months Ended | ||
May 31, 2022 | Aug. 31, 2021 | Aug. 31, 2020 | |
Class of Warrant or Right [Line Items] | |||
Number of Warrants | 4,973,369 | 9,716,869 | 13,236,869 |
March 27, 2019 [Member] | |||
Class of Warrant or Right [Line Items] | |||
Issue Date | Mar. 27, 2019 | ||
Expiry Date | Mar. 27, 2023 | ||
Exercise Price | $ 0.04 | ||
Number of Warrants | 4,973,369 |
COMMITMENTS (Narrative) (Detail
COMMITMENTS (Narrative) (Details) - USD ($) | 9 Months Ended | |
May 31, 2022 | May 01, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | ||
Corporate administration and consulting services per month plus goods and services tax | $ 3,500 | $ 9,500 |
Monthly office rent | $ 1,100 |
SEGMENTED INFORMATION (Narrativ
SEGMENTED INFORMATION (Narrative) (Details) - Segment | 9 Months Ended | 12 Months Ended |
May 31, 2022 | Aug. 31, 2021 | |
Segment Reporting [Abstract] | ||
Number of reportable segments | 1 | 1 |