Common Stock [Text Block] | 6. Authorized 250,000,000 shares of common stock, $0.001 par value Issued and outstanding 76,964,373 shares of common stock as at August 31, 2022 (August 31, 2021 - 33,781,327) On July 27, 2022, the Company completed a 20:1 reverse stock split and the common stock amounts have been retrospectively restated to show the effect of the reverse split. As of August 31, 2022, the Company has received cash proceeds of $64,791 (Cdn$82,500) for the subscription of 2,050,000 shares of common stock. As of the date of these financial statements, the shares have yet to be issued. Stock transactions during the three months ended August 31, 2022: (a) On August 17, 2022, the Company returned and canceled 500,000 shares of common stock for no consideration, pursuant to an amendment in a Property Purchase Agreement. The par value of the 500,000 shares of common stock was reclassified to additional paid-in capital. Refer to note 5(b). (b) During the three months ended August 31, 2022, the Company received partial proceeds of $15,430 (Cdn$20,000) for the subscription of 1,000,000 flow-through shares of common stock at a price of $0.025 subscriptions per share. As of the date of these financial statements, the shares have yet to be issued. Stock transactions during the three months ended August 31, 2021: (c) On July 26, 2021, the Company issued 1,000,000 shares of common stock at a price of Cdn$0.0025 per share pursuant to a private placement for cash proceeds of $40,953 (Cdn$50,000) received during the year ended May 31, 2021. (d) On July 26, 2021, the Company issued 850,000 shares of common stock at a price of Cdn$0.0025 per share pursuant to a private placement for cash proceeds of $34,342 (Cdn$42,500). (e) On July 26, 2021, the Company issued 100,000 shares of common stock at a price of $0.001875 per share pursuant to a private placement for cash proceeds of $3,750 received during the year ended May 31, 2021. (f) On July 26, 2021, the Company issued 50,000 shares of common stock at a price of $0.001875 per share pursuant to a private placement for cash proceeds of $1,875. At August 31, 2022 and 2021, the Company had no dilutive shares, or common stock equivalents. |