Cover
Cover - shares | 6 Months Ended | |
Apr. 30, 2022 | Jun. 08, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Apr. 30, 2022 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2022 | |
Current Fiscal Year End Date | --10-31 | |
Entity File Number | 000-56323 | |
Entity Registrant Name | WESTERN MAGNESIUM CORPORATION | |
Entity Central Index Key | 0001801762 | |
Entity Tax Identification Number | 61-1934413 | |
Entity Incorporation, State or Country Code | DE | |
Entity Address, Address Line One | 8180 Greensboro Drive | |
Entity Address, Address Line Two | Suite 720 | |
Entity Address, City or Town | McLean | |
Entity Address, State or Province | VA | |
Entity Address, Postal Zip Code | 22102 | |
City Area Code | (571) | |
Local Phone Number | 378-0762 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Elected Not To Use the Extended Transition Period | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 443,477,132 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Apr. 30, 2022 | Oct. 31, 2021 |
Current assets | ||
Cash | $ 774,409 | $ 462,360 |
Other receivables | 50,765 | 151,485 |
Subscription receivable | 185,000 | |
Prepayments | 119,970 | 133,647 |
Deposits held by related parties | 388,757 | 486,462 |
Total Current assets | 1,518,901 | 1,233,954 |
Non-current assets | ||
Property, plant and equipment, net | 3,977,619 | 2,574,704 |
Right-of-use assets, net | 469,821 | 598,575 |
Mineral property costs | 93,453 | 93,453 |
Reclamation and other deposits | 12,736 | 1 |
Deferred costs | 2,973 | |
TOTAL ASSETS | 6,075,503 | 4,513,512 |
Current liabilities | ||
Accounts payable and accrued liabilities | 2,715,924 | 1,989,316 |
Due to related parties | 1,253,280 | 1,026,817 |
Lease obligations – current | 244,592 | 192,045 |
Provision for flow through share issuances | 225,833 | 233,285 |
Convertible debenture, net | 1,783,584 | 7,449,807 |
Warrant liability | 2,468,261 | |
Total Current liabilities | 8,691,474 | 10,891,270 |
Non-current liabilities | ||
Lease obligations – non-current | 254,147 | 392,280 |
Total liabilities | 8,945,621 | 11,283,550 |
Commitments and contingencies [note 9] | ||
Shareholders’ deficit | ||
Capital stock Authorized: 1 billion common stock at par value of $0.001 Issued and paid: 434,866,801 (2021 – 392,943,398) | 39,096,950 | 29,842,167 |
Additional paid-in-capital | 23,204,066 | 15,186,480 |
Obligations to issue shares | 388,701 | 209,827 |
Accumulated other comprehensive income | 335,072 | 121,109 |
Accumulated deficit | (65,894,907) | (52,129,621) |
Total shareholders’ deficit | (2,870,118) | (6,770,038) |
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT | $ 6,075,503 | $ 4,513,512 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) | Apr. 30, 2022$ / sharesshares | Oct. 31, 2021$ / sharesshares |
Statement of Financial Position [Abstract] | ||
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 |
Common stock, par value | (per share) | $ 0.001 | $ 0.001 |
Common stock, shares issued | 434,866,801 | 392,943,398 |
Common stock, shares outstanding | 434,866,801 | 392,943,398 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Loss and Comprehensive Loss - USD ($) | 3 Months Ended | 6 Months Ended | ||
Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2022 | Apr. 30, 2021 | |
Operating expenses (recoveries) | ||||
Bank charges | $ 5,388 | $ 3,591 | $ 8,652 | $ 6,154 |
Business development | 31,777 | 77,329 | ||
Computer system and software | 27,703 | 11,697 | 39,354 | 71,785 |
Consulting and management fees | 215,709 | 271,853 | 413,636 | 338,954 |
Depreciation | 132,987 | 45,666 | 242,327 | 96,993 |
Due diligence expenses | 1,964 | 1,964 | ||
Engineering expenses (recoveries) | (1,565) | 119,066 | 116,808 | 55,454 |
Foreign exchange loss (gain) | 58,661 | (152,518) | 226,135 | (86,227) |
Interest and accretion | 326,868 | 17,760 | 649,148 | 36,334 |
Investor relations | 109,456 | 19,060 | 215,834 | 70,936 |
Legal and professional fees | 970,206 | 263,841 | 1,577,054 | 287,586 |
Office and general | 21,278 | 22,158 | 77,358 | 59,611 |
Facilities and rent | 112,452 | 70,190 | 176,121 | 85,275 |
Salaries and benefits | 1,201,297 | 631,284 | 2,196,839 | 1,366,932 |
Stock-based compensation | 302,254 | (1,060,085) | 433,829 | |
Shareholder communications | 7,500 | 86,234 | 40,701 | 86,234 |
Subsidies and recoveries | (48,117) | (41,247) | (79,219) | (41,247) |
Transfer agent and regulatory fees | 65,720 | 14,747 | 88,737 | 23,630 |
Travel expenses | 137,827 | 109,839 | 221,943 | 110,676 |
Total operating expenses | 3,677,401 | 435,100 | 6,722,586 | 2,571,044 |
Other income (expense) | ||||
Change in fair value of derivative liability | 4,858,644 | 31,190 | (6,701,147) | 16,656 |
Loss on recognition of debt host liability | (341,553) | |||
Total other income (expense), net | 4,858,644 | 31,190 | (7,042,700) | 16,656 |
Net income (loss) | 1,181,243 | (403,910) | (13,765,286) | (2,554,388) |
Other comprehensive income (loss) | ||||
Foreign currency translation | 49,183 | (114,645) | 213,963 | (191,049) |
Comprehensive income (loss) | $ 1,230,426 | $ (518,555) | $ (13,551,323) | $ (2,745,438) |
Basic and diluted income (loss) per common share | $ 0 | $ 0 | $ (0.03) | $ (0.01) |
Weighted average number of common shares outstanding – basic and diluted | 425,430,900 | 344,627,567 | 443,272,627 | 330,018,463 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Shareholders' Deficit - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Obligation to issue shares [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Oct. 31, 2020 | $ 21,322,022 | $ 4,182,037 | $ 596,872 | $ 399,175 | $ (28,580,009) | $ (2,079,903) |
Beginning balance, shares at Oct. 31, 2020 | 323,419,527 | |||||
Shares issued pursuant to private placements [note 13[b]] | $ 2,621,314 | (596,872) | 2,024,442 | |||
Shares issued pursuant to private placements [note 13[b]], shares | 25,724,955 | |||||
Shares issued on warrants exercised [notes 12[f] and 13[b]] | $ 16,113 | 16,113 | ||||
Shares issued on warrants exercised [notes 12[f] and 13[b]], shares | 400,000 | |||||
Shares issued on options exercised [note 13[b]] | $ 4,002 | 4,002 | ||||
Shares issued on options exercised [note 13[b]], shares | 100,000 | |||||
Share subscriptions [note 13[f]] | 45,446 | 45,446 | ||||
Share issue costs [note 13[b]] | (194,584) | (194,584) | ||||
Foreign currency translation | (191,049) | (191,049) | ||||
Net loss for the period | (2,554,388) | (2,554,388) | ||||
Ending balance, value at Apr. 30, 2021 | $ 23,768,867 | 4,182,037 | 45,446 | 208,126 | (31,134,397) | (2,929,921) |
Ending balance, shares at Apr. 30, 2021 | 349,644,482 | |||||
Beginning balance, value at Oct. 31, 2021 | $ 29,842,167 | 15,186,480 | 209,827 | 121,109 | (52,129,621) | (6,770,038) |
Beginning balance, shares at Oct. 31, 2021 | 392,943,398 | |||||
Shares issued pursuant to private placements [note 13[b]] | $ 756,524 | (209,827) | 546,697 | |||
Shares issued pursuant to private placements [note 13[b]], shares | 1,375,499 | |||||
Shares issued on warrants exercised [notes 12[f] and 13[b]] | $ 7,794,624 | 7,794,624 | ||||
Shares issued on warrants exercised [notes 12[f] and 13[b]], shares | 23,701,146 | |||||
Shares issued on options exercised [note 13[b]] | $ 51,918 | (22,203) | 29,715 | |||
Shares issued on options exercised [note 13[b]], shares | 750,000 | |||||
Share subscriptions [note 13[f]] | 388,701 | 388,701 | ||||
Share issue costs [note 13[b]] | (36,461) | (36,461) | ||||
Foreign currency translation | 213,963 | 213,963 | ||||
Net loss for the period | (13,765,286) | (13,765,286) | ||||
Shares issued upon conversion of convertible debenture [notes 12[b], 12[c] and 13[b]] | $ 688,178 | 688,178 | ||||
Shares issued upon conversion of convertible debenture [notes 12[b], 12[c] and 13[b]], shares | 6,933,333 | |||||
Shares issued for finder’s fees [note 13[b]] | ||||||
Shares issued for finder's fees [note 13[b]], shares | 9,163,425 | |||||
Stock-based compensation [note 13[d]] | 433,829 | 433,829 | ||||
Beneficial conversion feature on convertible debentures [note 12[d]] | 240,000 | 240,000 | ||||
Effects of change in functional currency on convertible debentures [note 12[e]] | 7,370,158 | 7,370,158 | ||||
Effects of change in functional currency on broker warrants [note 12[f]] | (4,198) | (4,198) | ||||
Ending balance, value at Apr. 30, 2022 | $ 39,096,950 | $ 23,204,066 | $ 388,701 | $ 335,072 | $ (65,894,907) | $ (2,870,118) |
Ending balance, shares at Apr. 30, 2022 | 434,866,801 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2022 | Apr. 30, 2021 | Oct. 31, 2021 | |
OPERATING ACTIVITIES | |||||
Net loss | $ 1,181,243 | $ (403,910) | $ (13,765,286) | $ (2,554,388) | |
Adjustments to reconcile net loss to net cash used in operating activities: | |||||
Accrued interest and accretion | 50,819 | 21,317 | |||
Amortization of debt discount | 600,771 | ||||
Change in fair value of derivative liability | (4,858,644) | (31,190) | 6,701,147 | (16,656) | |
Loss on recognition of debt host liability | 341,553 | ||||
Depreciation of property, plant and equipment | 123,961 | 8,645 | $ 44,148 | ||
Depreciation of right-of-use assets | 118,366 | 88,348 | 185,754 | ||
Foreign exchange loss | 204,106 | 73,637 | |||
Interest expense on lease obligations | 17,897 | 10,821 | |||
Stock-based compensation | 302,254 | (1,060,085) | 433,829 | ||
Cashless warrant exercise | (113,765) | ||||
Changes in operating assets and liabilities: | |||||
Other receivables | 96,860 | (58,815) | |||
Prepayments | 9,509 | (23,000) | |||
Deposits held by related parties | 83,022 | (235,682) | |||
Accounts payable and accrued liabilities | 798,064 | 1,114,588 | |||
Due to related parties | 261,840 | 294,115 | |||
Cash used in operating activities | (4,037,307) | (1,335,724) | |||
INVESTING ACTIVITIES | |||||
Purchase of property, plant and equipment | (1,601,999) | (397,869) | |||
Cash used in investing activities | (1,601,999) | (397,869) | |||
FINANCING ACTIVITIES | |||||
Proceeds from issuance of shares, net of share issuance costs | 3,851,614 | 1,856,336 | |||
Deferred financing costs | (2,973) | (25,179) | |||
Proceeds from share subscriptions | 203,701 | 45,446 | |||
Proceeds from convertible debenture | 2,000,000 | 78,566 | |||
Payments of promissory note | (64,993) | ||||
Payments of lease obligations | (93,244) | (99,573) | |||
Cash provided by financing activities | 5,959,098 | 1,790,603 | |||
Change in cash for the period | 319,792 | 57,010 | |||
Cash, beginning of the period | 462,360 | 39,571 | 39,571 | ||
Effect of foreign exchange on cash | (7,743) | (26,216) | |||
Cash, end of the period | $ 774,409 | $ 70,365 | 774,409 | 70,365 | $ 462,360 |
Other non-cash transactions: | |||||
Shares issued for conversion of debt and interest | 688,178 | ||||
Shares issued for payment of finder’s fees | 4,796,832 | ||||
Other cash flow disclosures: | |||||
Cash paid during the period for interest | $ 5,549 |
NATURE OF OPERATIONS AND GOING
NATURE OF OPERATIONS AND GOING CONCERN | 6 Months Ended |
Apr. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
NATURE OF OPERATIONS AND GOING CONCERN | 1. NATURE OF OPERATIONS AND GOING CONCERN Western Magnesium Corporation (the “Company”, or “WMC”) was incorporated under the laws of British Columbia on March 24, 1966. On May 14, 2019, the Company discontinued from the jurisdiction of the Business Corporations Act (British Columbia) and domesticated under the General Corporation Law of the State of Delaware under the name “Western Magnesium Corporation”. The Company is a reporting issuer in Canada and in the United States, listed for trading in Canada on the TSX Venture Exchange (the “TSX-V”) under the symbol “WMG.V”, in the United States on the OTCQB tier of the OTC Markets (the “OTCQB”) under the symbol “MLYF”, and in Germany on the Frankfurt Stock Exchange under the symbol “3WM”. The Company has developed proprietary magnesium production technology with the aim of becoming a premier low-cost producer of green primary magnesium metal. As at April 30, 2022, the Company had an accumulated deficit of $ 65,894,907 (October 31, 2021 – $ 52,129,621 ) and working capital deficiency of $ 7,172,573 (October 31, 2021 – $ 9,657,316 ). For the six months ended April 30, 2022, the Company reported a comprehensive loss of $ 13,551,323 (2021 – $ 2,745,438 ). The Company has not yet achieved profitable operations and expects to incur further losses from operations. The Company has financed its activities and operations through equity issuances and debt financing and expects to continue to do so to the extent such financing is available. There can be no assurance that such financing will be available under terms acceptable to the Company or at all. These unaudited condensed consolidated financial statements (the “Financial Statements”) have been prepared under the assumption that the Company will continue as a going concern. The going concern basis of presentation assumes that the Company will be able to meet its obligations and continue its operations for the foreseeable future and be able to realize its assets and discharge its liabilities and commitments in the normal course of business. Management believes that the going concern assumption is appropriate for these Financial Statements based on its continuing ability to raise financings through share and debt issuances. If future financing is unavailable or if for any reason the Company is unable to continue as a going concern, it could impact the Company’s ability to realize its assets at their recognized values and to meet its obligations in the ordinary course of business at the amounts stated in these Financial Statements. These Financial Statements do not give effect to adjustments that would be necessary to the carrying values and classifications of assets and liabilities should the Company be unable to continue as a going concern. If the going concern assumption is not used, the adjustments required to report the Company’s assets and liabilities on a liquidation basis could be material to these Financial Statements. The Company’s management has evaluated whether there is substantial doubt about the Company’s ability to continue as a going concern and has determined that substantial doubt existed as of April 30, 2022. This determination was based on the following factors: (i) the Company used cash of approximately $ 4.0 million in operations during the six months ended April 30, 2022; (ii) the Company’s available cash as of April 30, 2022 will not be sufficient to fund its anticipated level of operations for the next 12 months; (iii) the Company will require additional financing for the fiscal year ending October 31, 2022 to continue at its expected level of operations; and (iv) if the Company fails to obtain the needed capital, it will be forced to delay, scale back, or eliminate some or all of its development activities or perhaps cease operations. In the opinion of management, these factors, among others, raise substantial doubt about the ability of the Company to continue as a going concern for at least one year from the date of these Financial Statements are issued. In March 2020, the World Health Organization declared COVID-19 a global pandemic. In order to combat the spread of COVID-19, governments worldwide, including the Unites States and Canada, have enacted emergency measures including travel bans, legally enforced or self-imposed quarantine periods, social distancing and business and organization closures. These measures have adversely affected workforces, economies, and financial markets globally, leading to an economic downturn. The impact on the Company has not been significant but could affect the Company’s ability to raise financings in the future and restrict travel. Management continues to monitor the situation. |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 6 Months Ended |
Apr. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
BASIS OF PRESENTATION | 2. BASIS OF PRESENTATION These Financial Statements comprise the financial statements of Western Magnesium Corporation and its wholly owned subsidiaries, Western Magnesium Corp., incorporated in Nevada, United States and Western Magnesium Canada Corporation, incorporated in British Columbia, Canada. [a] Accounting standards The accompanying Financial Statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and the rules and regulations of the United States Securities and Exchange Commission (the “SEC”) on the basis that the Company will continue as a going concern, which assumes that the Company will be able to meet its obligations as they become due and continue its operations for at least one year from the date these Financial Statements are issued. Realization values may be substantially different from carrying values as shown and these Financial Statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. These Financial Statements have been prepared on a historical cost basis except for financial instruments that have been measured at fair value. In addition, these Financial Statements have been prepared using the accrual basis of accounting, except for cash flow information. They do not include all the information required for complete annual financial statements and should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto for the year ended October 31, 2021 (the “Fiscal 2021 Financial Statements”). [b] Functional and presentation currency These Financial Statements are presented in United States dollars (“US dollars” or “US$”), except where otherwise indicated. The functional currency of each entity of the Company is as follows: Entity Functional Currency Western Magnesium Corporation United States dollars Western Magnesium Corp. United States dollars Western Magnesium Canada Corporation Canadian dollars (“CA$”) During the three months ended January 31, 2022, significant changes in economic facts and circumstances have occurred in Western Magnesium Corporation’s operations which resulted in the change of its functional currency to the United States dollars from the Canadian dollar effective November 1, 2021. For both monetary and non-monetary assets and liabilities, translated balances at the end of the prior period become the new accounting basis. The rate on the date of change becomes the historical rate at which non-monetary assets and liabilities are translated in subsequent years. There is no effect on the cumulative translation adjustment on the consolidated basis. Previously recorded cumulative translation adjustments are not reversed. Effects of change in functional currency included the reclassifications of convertible debentures and warrants and broker warrants [notes 12[d] and [e]] The accounts of the Company’s subsidiary Western Magnesium Canada Corporation have been translated to United States dollars with the exchange translation adjustments recorded in other comprehensive income (loss). [c] Critical accounting estimates and judgments Significant Estimates and Assumptions The preparation of these Financial Statements in accordance with US GAAP requires the Company to make estimates and assumptions concerning the future that affect the amounts reported in the Financial Statements and accompanying notes. Management reviews these estimates and underlying assumptions on an ongoing basis, based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Revisions to estimates are adjusted for prospectively in the period in which the estimates are revised. Estimates and assumptions where there is potential risk of material adjustments to assets and liabilities in future accounting periods include the useful lives of property, plant and equipment, recoverability of the carrying value of exploration and evaluation assets, fair value measurements for financial instruments, discount rates for leases, recoverability and measurement of deferred tax assets and liabilities, and contingent liabilities. Significant Judgments The preparation of these Financial Statements in accordance with US GAAP requires the Company to make judgments, apart from those involving estimates, in applying accounting policies. The most significant judgments in applying the Company’s Financial Statements include: - the assessment of the Company’s ability to continue as a going concern and whether there are events or conditions that may give rise to substantial doubt; - whether there are indicators of impairment of the Company’s exploration and evaluation assets and other non-current assets; - the classification of financial instruments; and - determination of functional currency. |
RECENT ACCOUNTING PRONOUNCEMENT
RECENT ACCOUNTING PRONOUNCEMENTS | 6 Months Ended |
Apr. 30, 2022 | |
Accounting Changes and Error Corrections [Abstract] | |
RECENT ACCOUNTING PRONOUNCEMENTS | 3. RECENT ACCOUNTING PRONOUNCEMENTS New Accounting Standards Adopted During the Periods In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. ASU 2019-12 is effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years, with early adoption permitted. Effective November 1, 2021, the Company adopted the new standard. There was no material impact or adjustment to these Financial Statements. In January 2020, the FASB issued ASU 2020-01, Investments – Equity Securities (Topic 321), Investments – Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) (“ASU 2020-01”), which is intended to clarify the interactions of the accounting for equity securities under Topic 321 and investments accounted for under the equity method of accounting in Topic 323 and the accounting for certain forward contracts and purchased options accounted for under Topic 815. ASU 2020-01 is effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years, with early adoption permitted. Effective November 1, 2021, the Company adopted the new standard. There was no material impact or adjustment to these Financial Statements. New Accounting Standards Not Yet Adopted In August 2020, the FASB issued ASU 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40) (“ASU 2020-06”). ASU 2020-06 eliminates the beneficial conversion and cash conversion accounting models for convertible instruments and supersedes the respective guidance within ASC 470-20 and ASC 740-10-55-51, which will result in more instruments to be accounted for as a single instrument rather than having their proceeds allocated between liability and equity accounting units. As smaller reporting companies as defined by the United States Securities and Exchange Commission (the “SEC”), ASU 2020-06 is effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the effect this standard will have on its Financial Statements. |
PROPERTY, PLANT AND EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT | 6 Months Ended |
Apr. 30, 2022 | |
Property, Plant and Equipment [Abstract] | |
PROPERTY, PLANT AND EQUIPMENT | 4. PROPERTY, PLANT AND EQUIPMENT SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT Computer Equipment Furniture Leasehold Improvement Furnace & Plant Equipment Vehicle Total $ $ $ $ $ $ Cost Balance, October 31, 2020 32,318 38,916 7,610 28,413 – 107,257 Additions 77,955 11,510 129,257 2,278,205 – 2,496,927 Write-off of equipment (4,245 ) – – – – (4,245 ) Foreign exchange effect 3,601 3,116 2,614 38,108 – 47,439 Balance, October 31, 2021 109,629 53,542 139,481 2,344,726 – 2,647,378 Additions 7,008 2,171 107,014 1,456,591 29,215 1,601,999 Foreign exchange effect – (288 ) (5,306 ) (70,509 ) (302 ) (76,405 ) Balance, April 30, 2022 116,637 55,425 241,189 3,730,808 28,913 4,172,972 Accumulated Depreciation Balance, October 31, 2020 14,677 8,326 4,818 – – 27,821 Depreciation expense 13,907 7,443 8,827 13,971 – 44,148 Write-off of equipment (2,057 ) – – – – (2,057 ) Foreign exchange effect 1,294 745 502 221 – 2,762 Balance, October 31, 2021 27,821 16,514 14,147 14,192 – 72,674 Depreciation expense 18,236 3,833 15,217 83,755 2,920 123,961 Foreign exchange effect – (48 ) (404 ) (801 ) (29 ) (1,282 ) Balance, April 30, 2022 46,057 20,299 28,960 97,146 2,891 195,353 Net Book Value Balance, October 31, 2020 17,641 30,590 2,792 28,413 – 79,436 Balance, October 31, 2021 81,808 37,028 125,334 2,330,534 – 2,574,704 Balance, April 30, 2022 70,580 35,126 212,229 3,633,662 26,022 3,977,619 |
RIGHT-OF-USE ASSETS
RIGHT-OF-USE ASSETS | 6 Months Ended |
Apr. 30, 2022 | |
Right-of-use Assets | |
RIGHT-OF-USE ASSETS | 5. RIGHT-OF-USE ASSETS As at April 30, 2022, the right-of-use assets are leases for the Company’s offices in Vancouver, British Columbia and McLean, Virginia, and its research and development pilot plant located in Burnaby, British Columbia. These leases terminate on March 31, 2023, February 28, 2025 and September 30, 2023, respectively. The lease for the Company’s office in Las Vegas, Nevada ended on May 31, 2021. SCHEDULE OF RIGHT- OF - USE ASSETS Vancouver Office Virginia Office Nevada Office Pilot Plant Total $ $ $ $ $ Cost Balance, October 31, 2020 59,701 – 22,856 357,949 440,506 Additions 91,237 287,847 – – 379,084 Foreign exchange effect 5,943 4,544 1,724 26,997 39,208 Balance, October 31, 2021 156,881 292,391 24,580 384,946 858,798 Foreign exchange effect – (3,038 ) – (12,278 ) (15,316 ) Balance, April 30, 2022 156,881 289,353 24,580 372,668 843,482 Accumulated Depreciation Balance, October 31, 2020 42,142 – 14,434 9,943 66,519 Depreciation expense 44,259 15,288 8,915 117,292 185,754 Foreign exchange effect 3,876 241 1,231 2,602 7,950 Balance, October 31, 2021 90,277 15,529 24,580 129,837 260,223 Depreciation expense 22,229 33,790 – 62,347 118,366 Foreign exchange effect – (162 ) – (4,766 ) (4,928 ) Balance, April 30, 2022 112,506 49,157 24,580 187,418 373,661 Net Book Value Balance, October 31, 2020 17,559 – 8,422 348,006 373,987 Balance, October 31, 2021 66,604 276,862 – 255,109 598,575 Balance, April 30, 2022 44,375 240,196 – 185,250 469,821 |
LEASE OBLIGATIONS
LEASE OBLIGATIONS | 6 Months Ended |
Apr. 30, 2022 | |
Lease Obligations | |
LEASE OBLIGATIONS | 6. LEASE OBLIGATIONS On adoption of ASU 2016-02 on November 1, 2019, the Company recognized lease liabilities of $ 83,549 7% During the year ended October 31, 2020, the Company entered into a new operating lease with respect to its research and development pilot plant located in Burnaby, British Columbia and recognized a lease liability of $ 354,263 6% During the year ended October 31, 2021, the Company renewed its operating lease with respect to its office in Vancouver, British Columbia and recognized a lease liability of $ 91,237 7% During the year ended October 31, 2021, the Company entered into a new operating lease with respect to its corporate head office in McLean, Virginia and recognized a lease liability of $ 260,649 7% SCHEDULE OF OPERATING LEASE Vancouver Office Virginia Office Nevada Office Pilot Plant Total $ $ $ $ $ Balance, October 31, 2020 18,123 – 12,211 350,593 380,927 Additions 91,237 260,649 – – 351,886 Lease payments (47,931 ) (5,137 ) (9,457 ) (139,037 ) (201,562 ) Interest expense 3,076 3,019 219 19,005 25,319 Prior period adjustment – – (3,065 ) – (3,065 ) Foreign exchange effect 2,099 4,081 92 24,548 30,820 Balance, October 31, 2021 66,604 262,612 – 255,109 584,325 Lease payments (24,187 ) – – (69,057 ) (93,244 ) Interest expense 1,958 9,230 – 6,711 17,899 Foreign exchange effect – (2,728 ) – (7,513 ) (10,241 ) Balance, April 30, 2022 44,375 269,114 – 185,250 498,739 Which consist of: Current lease obligation 44,375 71,092 – 129,125 244,592 Non-current lease obligation – 198,022 – 56,125 254,147 Balance, April 30, 2022 44,375 269,114 – 185,250 498,739 |
MINERAL PROPERTY COSTS
MINERAL PROPERTY COSTS | 6 Months Ended |
Apr. 30, 2022 | |
Extractive Industries [Abstract] | |
MINERAL PROPERTY COSTS | 7. MINERAL PROPERTY COSTS As at April 30, 2022, the Company had the following mining claims: [a] Silverado Property Nevada, United States The Silverado property is located in the Pinto mining district of Nevada, consists of 3 patented mining claims totaling approximately 120 100 1 [b] Tami Mosi Property, Nevada, United States The Company holds a 100 1,637 10 2 93,452 |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 6 Months Ended |
Apr. 30, 2022 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | 8. RELATED PARTY TRANSACTIONS [a] Deposits held by related parties The Company provided related parties with advances that were held as deposits for anticipated future costs related to the Company’s planned magnesium research and development pilot plant and other administrative expenses (the “Pilot Plant Advances”). As at April 30, 2022, the Company had the following deposits held by related parties: SCHEDULE OF DEPOSITS HELD BY RELATED PARTY Related Party A [i] Related Party B [ii] Total $ $ $ Balance, October 31, 2020 – – – Advances 987,912 2,292,912 3,280,824 Costs and expenses (696,431 ) (2,097,931 ) (2,794,362 ) Balance, October 31, 2021 291,481 194,981 486,462 Advances 330,930 1,225,118 1,556,048 Costs and expenses (249,872 ) (1,420,829 ) (1,670,701 ) Foreign exchange effect 16,218 730 16,948 Balance, April 30, 2022 388,757 – 388,757 [i] Related Party A is a company controlled by a director and officer. [ii] Related Party B is a company controlled by an officer. [b] Due to related parties As at April 30, 2022, balances due to related parties totaled $ 1,253,280 1,026,817 SCHEDULE OF DUE TO RELATED PARTIES April 30, 2022 October 31, $ $ Wages payable to directors and officers 357,500 357,500 Benefits payable to directors and officers 730,810 539,209 Fees and expenses payable to directors and officers 164,970 127,878 Interest due to a shareholder – 2,230 Total 1,253,280 1,026,817 [c] Key management compensation As at April 30, 2022, the Company had twelve executives including seven key senior management members. Their aggregate annualized compensation is approximately $ 3.1 1,626,279 160,700 [d] Transactions with related parties [i] During the six months ended April 30, 2022, the Company incurred consulting fees of $ 27,630 35,000 [ii] During the six months ended April 30, 2022, the Company incurred consulting fees of $ 30,000 [iii] In June 2021, the Company renewed its sublease agreement with a company controlled by a director and officer for its office in Vancouver, British Columbia with a lease term from April 1, 2021 to March 31, 2023 7,656 9,794 [iv] Pursuant to an agreement entered on August 29, 2018 and which was approved by the TSX-V on September 12, 2018, a company controlled by a director and officer is eligible to receive up to 5 5 9,163,425 0.65 4,796,832 5,956,226 |
CONTINGENT LIABILITIES AND COMM
CONTINGENT LIABILITIES AND COMMITMENTS | 6 Months Ended |
Apr. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
CONTINGENT LIABILITIES AND COMMITMENTS | 9. CONTINGENT LIABILITIES AND COMMITMENTS [a] Contingent liabilities [i] On September 29, 2020, James Sever filed a Notice of Civil Claim against the Company in the Supreme Court of British Columbia (the “Sever Claim”). The Sever Claim alleges that Mr. Sever had an employment and/or other similar contractual relationship with the Company, and that the Company breached such contractual relationship by way of constructive dismissal or similar conduct. The Sever Claim seeks damages in excess of $ 2.5 million, certain equity compensation, prejudgment garnishment, costs, interest and other non-monetary relief. On July 27, 2021, the Company filed a response to the Sever Claim. On April 5, 2022, the Company filed an amended response to the Sever Claim, which included the following pleadings: (a) British Columbia is an inappropriate and inconvenient forum for the Sever Claim; (b) to the extent that British Columbia is the appropriate forum for the Sever Claim, nonetheless: (i) the Sever Claim is barred in whole or in part by applicable doctrines of delay / statute of limitations, (ii) the Company did not constructively dismiss Mr. Sever and, instead, it was Mr. Sever that abandoned, quit or resigned from his obligations to the Company, (iii) the Company has no debts, liabilities or obligations to Mr. Sever. The Company intends to vigorously defend against the Sever Claim, and believes that the Sever Claim is without merit. As the Company cannot predict the outcome of the Sever Claim, no provision has been recognized as there is no present obligation and the probability of an outcome cannot be determined. [ii] On December 31, 2020, GEM Yield Bahamas Limited (“GEM”) served the Company with a Notice of Intention to Arbitrate (the “New York Arbitration Notice”) before the American Arbitration Association in New York (the “GEM New York Arbitration”). The New York Arbitration Notice alleges the Company breached a Share Subscription Agreement dated November 15, 2019 entered into between the Company and GEM (the “GEM Agreement”), among other things, claiming damages of approximately $ 3.4 million (CA$ 4.2 million). On January 19, 2021, the Company filed a petition in the New York Supreme Court to stay the GEM New York Arbitration claiming the GEM Agreement was not valid. On March 19, 2021, the Court in the New York State Action ruled that there was an arbitration clause in the GEM Agreement but it was up to the arbitrator to determine if the arbitration clause was valid. Following this ruling, the New York State Action was closed. In June 2021, GEM filed a Statement of Claim in the GEM New York Arbitration, and the Company filed a Statement of Answer denying the existence of any binding agreement between the Company and GEM, among other defenses. In January 2022, the Company filed a Modified Statement of Defense and Counterclaims. On April 8, 2022, the parties agreed to consolidate this arbitration with the GEM Montreal Arbitration. The parties then filed consolidated pleadings, and both matters will be decided via arbitration in Montreal. The Company intends to vigorously defend itself in the GEM New York Arbitration and believes the allegations lack merit. As the Company cannot predict the outcome of this arbitration proceeding, no provision has been recognized in respect to the GEM New York Arbitration as there is no present obligation and the probability of an outcome cannot be determined. [iii] On February 8, 2021, GEM instituted another arbitration against the Company before the International Centre for Dispute Resolution in Montreal Canada (the “GEM Montreal Arbitration”) and joined GEM’s affiliate, GEM Global Yield LLC SCS (“GEM Global Yield” together with GEM, the “GEM Parties”). The Statement of Claim filed by the GEM Parties alleges the Company breached a Share Subscription Agreement dated November 15, 2019 and promissory note, among other things, claiming damages of approximately $ 3.9 million (CA$ 4.9 million), in addition to costs and expenses, stemming from the Company’s alleged failure to issue to GEM Global Yield warrants to purchase up to 33 million shares of the Company’s common stock. The Company filed a Statement of Defense denying the existence of any binding agreement between the Company and GEM, among other defenses. In January 2022, the Company filed an Amended Statement of Defense and Cross-claim. On April 8, 2022, the parties agreed to consolidate this arbitration with the GEM New York Arbitration. The parties then filed consolidated pleadings, and both matters will be decided via arbitration in Montreal. The Company intends to vigorously defend itself in the GEM Montreal Arbitration and believes the allegations lack merit. As the Company cannot predict the outcome of this arbitration proceeding, no provision has been recognized in respect to the GEM Montreal Arbitration as there is no present obligation and the probability of an outcome cannot be determined. [iv] On April 19, 2021, Lampert Advisors, LLC (“Lampert”) filed a Verified Complaint against the Company’s wholly owned subsidiary Western Magnesium Corp., a Nevada corporation (“Western Magnesium – Nevada”) in the Supreme Court of the State of New York, County of New York (the “Lampert Lawsuit”). The complaint filed in the Lampert Lawsuit alleges that Lampert entered into an agreement with Western Magnesium – Nevada to provide various financial advisory services including acquisition advisory services and act as an exclusive placement agent for a combination of debt and equity securities (the “Lampert Agreement”), that it performed all services required under that agreement and that it is owed $ 367,227 plus interest at the rate of 9 % from February 3, 2021 and that it has a right of first refusal to act as financial advisor in connection with any debt, equity or debt restructuring assignments on terms, conditions and compensation customary for Lampert for a transaction of the type contemplated. Although Lampert claims to have personally served Western Magnesium – Nevada, the Company never received the Summons and Complaint and therefore, never submitted a response. On September 9, 2021, Lampert filed a Motion seeking the entry of a default judgment (the “Motion”). The Company opposed the Motion and filed a cross-motion to compel Lampert to accept the Company’s answer. The Court granted the Company’s cross-motion and denied Lampert’s Motion as moot. On March 4, 2022, the Company filed a Verified Amended Answer, Affirmative Defenses, and Counterclaims. The counterclaims seek at least $ 120,000 [b] Commitments [i] On November 1, 2016, the Company signed a contract services agreement with Lodestar Management Group, LLC (“Lodestar”), a US corporate logistics company. Lodestar provides advisory, consulting, negotiation and other management services relating to corporate management, administrative and/or operational activities of the Company. The term of the contract was for one year and has been renewed under the same terms on January 1, 2018 and 2019. The Company has agreed to compensate Lodestar in the amount of $ 1,800 2,500 0.05 1,800 2,500 30,624 nil nil 32,716 53,491 [ii] During the year ended October 31, 2020, the Company has entered into a lease agreement for its research and development pilot plant in Burnaby, British Columbia with a lease term from October 1, 2020 to September 30, 2023 at a monthly rent of $ 16,194 (CA$ 20,715 ). In June 2021, the Company renewed its sublease agreement with a company controlled by a director and officer for its office in Vancouver, British Columbia with a lease term from April 1, 2021 to March 31, 2023 at a monthly rent of $ 7,656 (CA$ 9,794 ). In September 2021, the Company entered into a lease agreement for its corporate head office in McLean, Virginia with a lease term from September 14, 2021 to February 28, 2025 at a monthly rent of $ 9,113 . The Company will be abated for the first five months and is entitled to a tenant allowance of $ 41,010 [notes 5 and 6] |
PROMISSORY NOTE
PROMISSORY NOTE | 6 Months Ended |
Apr. 30, 2022 | |
Promissory Note | |
PROMISSORY NOTE | 10. PROMISSORY NOTE During the year ended October 31, 2019, the Company received a loan of $ 112,895 150,000 18 44,588 60,000 157,483 210,000 September 24, 2021 1,639 16,655 65,761 101,066 |
PROVISION FOR FLOW THROUGH SHAR
PROVISION FOR FLOW THROUGH SHARE ISSUANCES | 6 Months Ended |
Apr. 30, 2022 | |
Provision For Flow Through Share Issuances | |
PROVISION FOR FLOW THROUGH SHARE ISSUANCES | 11. PROVISION FOR FLOW THROUGH SHARE ISSUANCES The Company has recorded a provision in the amount of $ 225,833 233,285 |
CONVERTIBLE DEBENTURE AND DERIV
CONVERTIBLE DEBENTURE AND DERIVATIVE LIABILITY | 6 Months Ended |
Apr. 30, 2022 | |
Debt Disclosure [Abstract] | |
CONVERTIBLE DEBENTURE AND DERIVATIVE LIABILITY | 12. CONVERTIBLE DEBENTURE AND DERIVATIVE LIABILITY [a] July 2020 Convertible Debenture On July 27, 2020, the Company closed a non-brokered private placement of an unsecured convertible note in the principal amount of $ 112,124 150,000 12 0.15 1,360,959 263,973 26,286 37 [b] July 2021 Convertible Debenture On July 15, 2021, the Company closed a non-brokered private placement of an unsecured convertible note in the principal amount of $ 79,542 100,000 12 0.12 0.20 933,333 594% [c] June 2021 Convertible Debenture On June 15, 2021, the Company closed a non-brokered private placement of an unsecured convertible note in the principal amount of $ 1,500,000 12 December 10, 2022 15,000,000 (i) one share of the Company’ common stock, (ii) one-half of one Class A common stock purchase warrant, with each whole warrant being exercisable at a price of $0.13 until June 10, 2026, and (iii) one-half of one Class B common stock purchase warrant, with each whole warrant being exercisable at a price of $0.19 until June 10, 2026 (collectively, the “Class A and B Warrants”). In addition, the conversion price for accrued interest is the greater of (i) $0.10 and (ii) the minimum conversion price permitted by the TSX-V at the time of conversion As part of the offering of the June 2021 Convertible Debenture, the Company also entered into a securities purchase agreement dated June 10, 2021 (the “2021 Securities Purchase Agreement”), whereby the Company agreed to use commercially reasonable efforts to file a registration statement with the United States Securities and Exchange Commission (the “SEC”) by August 14, 2021, covering the public resale of the shares of common stock underlying such debenture and, upon its conversion, the Class A and B Warrants issuable upon such conversion (the “Underlying Shares”), and to use its best efforts to cause the registration statement to be declared effective on October 13, 2021. On December 13, 2021, the Company’s Form 10 Registration Statement filed with the SEC was declared effective. In addition to certain covenants contained in the 2021 Securities Purchase Agreement, the terms of the June 2021 Convertible Debenture contain certain negative covenants by the Company, including, among others, sell or offer to sell any securities with non-fixed or floating price features, issue any common stock or common stock equivalents at a price lower than the conversion price herein then in effect, or issue any equity or debt instruments with anti-dilution provisions. In the event the Company issues or sells any common stock or common stock equivalents with terms that the purchaser holding the outstanding June 2021 Convertible Debenture or the Class A and B Warrants reasonably believes are more favorable to such holder than the terms of the June 2021 Convertible Debenture or the Class A and B Warrants, then upon notice to the Company by such holder within five trading days after notice to such holder by the Company, the Company will use commercially reasonable efforts to obtain the approval of the TSX-V and any additional required regulatory approval to amend the terms of the June 2021 Convertible Debenture or the Class A and B Warrants as required, as the case may be, so as to give such holder the benefit of such more favorable terms or conditions. The conversion price of the June 2021 Convertible Debenture and the exercise price of the Class A and B Warrants are subject to proportional adjustment in the event of stock splits, stock dividends and similar corporate events, including merger or consolidation of the Company or in a “Fundamental Transaction” as defined in the June 2021 Convertible Debenture. The Company has granted the holders certain rights of first refusal on its future offerings for as long as the June 2021 Convertible Debenture or the Class A and B Warrants are outstanding. The Company may prepay and satisfy the June 2021 Convertible Debenture so long as an event of default has not occurred, upon 20 days’ prior written notice received by the Company to the holder, by paying 125% of the amounts owed on the June 2021 Convertible Debenture, including all principal, interest and other fees. The holder of this debenture may, however, convert all or a portion of the debenture during the 20-day notice period. During the six months ended April 30, 2022, the Company issued an aggregate 6,000,000 6,000,000 3,000,000 0.13 3,000,000 0.19 [note 13[b]] 140,942 70,521 effective interest rate of 1,240 [d] April 2022 Convertible Debenture On April 14, 2022, the Company entered into a securities purchase agreement (the “2022 Securities Purchase Agreement”) and closed a non-brokered private placement of an unsecured convertible note in the principal amount of $ 2,000,000 15 October 14, 2023 6,666,667 0.40 The April 2022 Convertible Debenture may not be prepaid prior to maturity and contains customary events of default relating to, among other things, payment defaults, breach of representations and warranties, and breach of provisions of the 2022 Securities Purchase Agreement or the April 2022 Convertible Debenture. In the event of default under the April 2022 Convertible Debenture, the interest rate shall increase to the lesser of 20% per annum or the maximum rate permitted under applicable law until paid and the following “Mandatory Default Amount” shall be paid, if demanded by the purchaser: the sum of (a) the greater of (i) the outstanding principal amount of the April 2022 Convertible Debenture divided by the conversion price on the date the Mandatory Default Amount is either (A) demanded (if demand or notice is required to create an event of default) or otherwise due or (B) paid in full, whichever has a lower conversion price, multiplied by the VWAP on the date the Mandatory Default Amount is either (x) demanded, (y) due, or (z) paid in full, whichever is highest, or (ii) 125% of the outstanding principal amount of the April 2022 Convertible Debenture plus (b) all other amounts, costs, expenses and liquidated damages due in respect of the April 2022 Convertible Debenture. Pursuant to the terms of the 2022 Securities Purchase Agreement, the Company also entered into a registration rights agreement dated April 14, 2022 (the “2022 Registration Rights Agreement”). Pursuant to the terms of the 2022 Registration Rights Agreement, the Company agreed to prepare and file with the SEC a registration statement covering the resale of all shares issued or issuable upon conversion of the April 2022 Convertible Debenture, upon exercise of the respective warrants of the April 2022 Convertible Debenture, upon conversion of the June 2021 Debenture, and upon exercise of the respective warrants of the June 2021 Convertible Debenture. The Company agreed to file the registration statement with the SEC within 30 days following April 14, 2022 and to use best efforts to have the registration statement declared effective by the SEC within 60 days following April 14, 2022 if the SEC does not review it or by August 12, 2022 if the SEC reviews it. In the event the Company fails to file the registration statement or such registration statement is not declared effective within the time periods noted above or such registration statement is not kept effective while any of the securities registered pursuant to such registration statement, the Company will be obligated to pay the holder of the debentures a penalty in cash, in the amount of $ 20,000 As at April 30, 2022, the Company incurred contractual interest of $ 13,151 nil 22% [e] Debt Host Liability and Embedded Derivative Liability Certain of the Company’s convertible debentures were determined to be hybrid financial instruments comprised of a debt host liability and an embedded derivative liability, as under the conversion feature the number of shares that will or may be issued to settle the notes may vary. The Company uses the Black-Scholes Option Pricing Model based on different default risks and assumptions. The debt host liability of the convertible note will be measured at amortized cost, with the embedded derivative liability measured at fair value. On issuance date of the July 2020 Convertible Debenture, the fair value of its debt host liability was determined to be $ 87,083 and the respective embedded derivative liability was valued at $ 25,041 . Fair value adjustments were made to the embedded derivative liability of the July 2020 Convertible Debenture on conversion date of May 18, 2021, resulting in a fair value of $nil. On issuance date of the July 2021 Convertible Debenture, it was determined to be a convertible debt instrument with a beneficial conversion feature accounted for in accordance with ASU 470-20. The Company allocated the intrinsic value of the beneficial conversion feature of the July 2021 Convertible Debenture capped at the face value of $ 79,542 (CA$ 100,000 ) to additional paid-in capital. On November 1, 2021, the Company’s functional currency change resulted in the reclassification of the July 2021 Convertible Debenture to a hybrid financial instrument accounted for in accordance with ASU 815-15. The embedded derivative liability was valued at $ 421,095 (CA$ 529,400 ), the previous beneficial conversion feature was reversed out of additional paid-in capital, and a loss of $ 341,553 (CA$ 429,400 ) was recognized in the statements of loss and comprehensive loss. Fair value adjustments were made to the embedded derivative liability of the July 2021 Convertible Debenture on conversion date of April 22, 2022, resulting in a fair value of $nil. On issuance date of the June 2021 Convertible Debenture, it was determined to be a hybrid financial instrument comprised of a debt host liability and an embedded derivative liability. The embedded derivative liability was valued at $ 1,646,600 1,500,000 1 146,601 7,449,744 600,769 899,231 On issuance date of the April 2022 Convertible Debenture, it was determined to be a convertible debt instrument with a beneficial conversion feature accounted for in accordance with ASU 470-20. The Company allocated the intrinsic value of the beneficial conversion feature of the April 2022 Convertible Debenture of $ 240,000 2 239,998 SCHEDULE OF DERIVATIVE INSTRUMENTS July 2020 Convertible Debenture July 2021 Convertible Debenture June 2021 Convertible Debenture April 2022 Convertible Debenture Total $ $ $ $ $ Debt Host Liability Balance, October 31, 2020 96,318 – – – 96,318 Fair value of debt host liability recognized – – 1 – 1 Accretion and interest expense 23,587 63 43 – 23,693 Conversion (125,560 ) – – – (125,560 ) Foreign currency translation 5,655 – – – 5,655 Balance, October 31, 2021 – 63 44 – 107 Effects of functional currency change – – 1,500,000 – 1,500,000 Fair value at inception – – – 2,000,000 2,000,000 Accretion and interest expense – 28,050 5,610 17,159 50,819 Conversion – (28,031 ) (600,000 ) – (628,031 ) Foreign currency translation – (82 ) – – (82 ) Balance, April 30, 2022 – – 905,654 2,017,159 2,922,813 Embedded Derivative Liability Balance, October 31, 2020 20,123 – – – 20,123 Fair value of embedded derivative liability recognized – – 1,646,600 – 1,646,600 Fair value adjustment (16,058 ) – 5,717,328 – 5,701,270 Conversion (5,247 ) – – – (5,247 ) Foreign currency translation 1,182 – 85,772 – 86,954 Balance, October 31, 2021 – – 7,449,700 – 7,449,700 Effects of functional currency change – 421,094 (7,449,700 ) – (7,028,606 ) Fair value adjustment – (259,447 ) – – (259,447 ) Conversion – (158,169 ) – – (158,169 ) Foreign currency translation – (3,478 ) – – (3,478 ) Balance, April 30, 2022 – – – – – Debt Discount Balance, October 31, 2021 – – – – – Effects of functional currency change – – (1,500,000 ) – (1,500,000 ) Inception – – – (240,000 ) (240,000 ) Amortization – – 600,769 2 600,771 Balance, April 30, 2022 – – (899,231 ) (239,998 ) (1,139,229 ) Combined Value of Convertible Debenture Balance, October 31, 2020 116,441 – – – 116,441 Balance, October 31, 2021 – 63 7,449,744 7,449,744 7,449,807 Balance, April 30, 2022 – – 6,423 1,777,161 1,783,584 The inputs used in the Black-Scholes Option Pricing Model are as follows: SCHEDULE OF OPTION PRICING MODEL April 22, November 1, October 31, June 15, July 27, 2022 2021 2021 2021 2020 Risk free rate of interest 2.65 % 1.07 % 1.08 % 0.31 % 0.26 % Expected life in years 0.23 0.70 1.11 1.50 0.74 Conversion exercise price CA$ 0.12 CA$ 0.12 $ 0.10 $ 0.10 CA$ 0.15 Underlying share price of the Company CA$ 0.36 CA$ 0.75 $ 0.59 $ 0.19 CA$ 0.13 Expected volatility 99.90 % 124.34 % 107.62 % 87.17 % 82.54 % Expected dividend rate Nil Nil Nil Nil Nil [f] Derivative Liability – Warrants and Broker Warrants On November 1, 2021, the Company’s functional currency change resulted in the reclassification of its outstanding warrants and broker warrants denominated in Canadian dollars as derivative liabilities measured at fair value. The previous value of outstanding broker warrants was reversed out of additional paid-in capital, and the derivative liability of warrants and broker warrants were valued at $ 26,956,177 and $ 76,811 , respectively. During the six months ended April 30, 2022, upon exercise of common share purchase warrants, $ 4,482,962 was reclassified from derivative liability to stockholders’ deficit. The Company recognized a loss of $ 7,060,790 in the change in fair value of the derivative liability. As at April 30, 2022, the derivative liability of warrants and broker warrants were valued at $ 2,465,603 and $ 2,658 , respectively. The Company uses the Black-Scholes Option Pricing Model based on default risks and assumptions as appropriate to value its warrants. |
SHARE CAPITAL
SHARE CAPITAL | 6 Months Ended |
Apr. 30, 2022 | |
Equity [Abstract] | |
SHARE CAPITAL | 13. SHARE CAPITAL [a] Authorized capital The authorized share capital consists of 1,000,000,000 0.001 [b] Common shares issued Fiscal 2021 [i] In connection with the non-brokered private placement announced on September 10, 2020: On November 20, 2020, the Company closed the first tranche of the non-brokered private placement, issuing 5,599,171 0.13 556,876 727,892 On January 15, 2021, the Company closed the second tranche of the non-brokered private placement, consisting of 7,337,914 0.13 749,435 953,930 39,996 On January 29, 2021, the Company closed the third tranche of the non-brokered private placement consisting of 5,382,303 0.13 547,496 699,699 On March 24, 2021, the Company closed the fourth tranche of the non-brokered private placement consisting of 6,554,172 0.13 678,270 852,042 On April 27, 2021, the Company closed the fifth and final tranche of the non-brokered private placement consisting of 851,395 0.13 89,237 110,681 In total, the Company issued an aggregate 25,724,955 0.13 2,621,314 3,344,244 Each unit issued consists of one common share and one common share purchase warrant entitling the holder to acquire a further common share at a price of CA$0.19 for a period of one year from the closing date of the respective financing tranche 195,614 [ii] On May 5, 2021, the Company announced a non-brokered private placement priced at CA$ 0.13 3,000,000 5,223,420 0.13 561,844 679,044 17,853,506 0.13 1,880,687 2,320,956 23,076,926 0.13 2,442,531 3,000,000 Each unit issued consists of one common share and one common share purchase warrant entitling the holder thereof to acquire a further common share at a price of CA$0.19 for a period of one year from the date of closing of the respective financing tranche 154,336 [iii] On May 18, 2021, the Company issued a total of 1,360,959 263,973 26,286 [iv] On June 7, 2021, the Company issued 1,538,461 0.24 305,832 369,231 [v] On July 16, 2021, the Company closed a non-brokered private placement and issued 4,350,000 0.20 690,860 870,000 Each unit consists of one common share and one common share purchase warrant entitling the holder thereof to acquire a further common share at a price of CA$0.30 for a period of one year from the date of closing 48,319 [vi] On August 11, 2021, the Company closed a non-brokered private placement and issued 3,827,601 0.55 1,683,336 2,105,180 Each unit consists of one common share and one common share purchase warrant entitling the holder thereof to acquire a further common share at a price of CA$0.65 for a period of eighteen months from the date of closing 124,923 [vii] During the year ended October 31, 2021, the Company issued a total of 7,014,969 0.05 0.21 887,520 1,120,130 525,173 [viii] During the year ended October 31, 2021, the Company issued a total of 2,630,000 0.05 0.16 140,734 175,800 [ix] With respect to the exercises of common share purchase warrants and options, the Company reclassified $ 4,291 121,932 Fiscal 2022 [i] Pursuant to an agreement entered on August 29, 2018 and which was approved by the TSX-V on September 12, 2018, a company controlled by a director and officer was eligible to receive up to 5% of the issued and outstanding common shares of the Company as at August 28, 2018 for up to $ 5 9,163,425 0.65 4,796,832 5,956,226 [ii] On November 4, 2021, the Company issued 1,000,000 1,000,000 500,000 0.13 500,000 0.19 1,000,000 1,000,000 500,000 0.13 500,000 0.19 1,000,000 1,000,000 500,000 0.13 500,000 0.19 1,361 [iii] On November 26, 2021, the Company closed a non-brokered private placement and issued 1,375,499 0.55 756,524 0.75 26,656 [iv] During the three months ended January 31, 2022, upon exercise of common share purchase warrants, the Company issued an aggregate 15,159,448 0.19 2,279,136 2,880,295 200,000 0.05 7,830 10,000 30,000 0.30 6,981 9,000 15,389,448 2,293,946 2,899,295 2,428,363 [v] On March 10, 2022, the Company issued 1,000,000 units on partial conversion of the June 2021 Convertible Debenture, for a total of 1,000,000 common shares, 500,000 Class A Warrants exercisable at a price of $ 0.13 until June 10, 2026, and 500,000 Class B Warrants exercisable at a price of $ 0.19 until June 10, 2026. On April 27, 2022, the Company issued a further 2,000,000 units on partial conversion of the June 2021 Convertible Debenture, for a total of 2,000,000 common shares, 1,000,000 Class A Warrants exercisable at a price of $ 0.13 until June 10, 2026, and 1,000,000 Class B Warrants exercisable at a price of $ 0.19 until June 10, 2026. [vi] On April 22, 2022, the Company issued a total of 933,333 933,333 0.20 100,000 12,000 [vii] During the three months ended April 30, 2022, upon the exercise of common share purchase warrants, the Company issued an aggregate 929,005 0.19 929,005 1,177,755 2,082,025 0.05 81,354 104,101 30,960 0.30 7,357 9,288 3,191,933 40,000 [viii] During the three months ended April 30, 2022, the Company issued a total of 750,000 0.05 29,715 37,500 22,203 [c] Common share purchase warrants A summary of the changes in the Company’s common share purchase warrants during the six months ended April 30, 2022 are as follows: SUMMARY OF CHANGES IN COMMON SHARE PURCHASE WARRANTS Expiry Date Exercise Price Weighted Average Life (Years) October 31, 2021 Granted Exercised Expired/ Cancelled April 30, 2022 Expiry Date Exercise Price Weighted Average Life (Years) October 31, 2021 Granted Exercised Expired/ Cancelled April 30, 2022 November 22, 2021 CA$ 0.19 – 4,160,021 – (4,080,573 ) (79,448 ) – January 17, 2022 CA$ 0.19 – 7,267,914 – (5,959,396 ) (1,308,518 ) – January 31, 2022 CA$ 0.19 – 5,382,303 – (4,341,906 ) (1,040,397 ) – February 21, 2022 CA$ 0.05 – 1,505,200 – (200,000 ) (1,305,200 ) – March 24, 2022 CA$ 0.19 – 6,341,872 – (4,515,139 ) (1,826,733 ) – March 27, 2022 CA$ 0.05 – 982,025 – (882,025 ) (100,000 ) – April 27, 2022 CA$ 0.19 – 791,395 – (791,395 ) – – May 9, 2022 CA$ 0.05 0.02 1,813,725 – (1,000,000 ) – 813,725 May 30, 2022 CA$ 0.19 0.08 5,223,420 – (276,675 ) – 4,946,745 June 17, 2022 CA$ 0.19 0.13 17,703,506 – (1,393,077 ) – 16,310,429 July 18, 2022 CA$ 0.30 0.22 4,350,000 – (60,960 ) – 4,289,040 August 14, 2022 CA$ 0.05 0.29 200,000 – (200,000 ) – – February 13, 2023 CA$ 0.65 0.79 3,827,601 – – – 3,827,601 April 22, 2024 CA$ 0.20 1.98 – 933,333 – – 933,333 Subtotal 59,548,982 933,333 (23,701,146 ) (5,660,296 ) 31,120,873 Weighted average exercise price CA$ 0.22 CA$ 0.20 CA$ 0.18 CA$ 0.16 CA$ 0.26 November 27, 2022 US$ 0.75 0.58 – 1,375,499 – – 1,375,499 June 10, 2026 US$ 0.13 4.12 – 3,000,000 – – 1,500,000 June 10, 2026 US$ 0.19 4.12 – 3,000,000 – – 1,500,000 Subtotal – 7,375,499 – – 4,375,499 Weighted average exercise price – US$ 0.27 – – US$ 0.27 Total 59,548,982 8,308,832 (23,701,146 ) (5,660,296 ) 38,496,372 A summary of the changes in the Company’s common share purchase warrants during the six months ended April 30, 2021 are as follows: Expiry Date Exercise Price Weighted Average Life (Years) October 31, 2020 Granted Exercised Expired/ Cancelled April 30, 2021 August 31, 2021 * CA$ 0.21 0.34 3,643,791 – – – 3,643,791 November 22, 2021 CA$ 0.19 0.56 – 5,599,171 – – 5,599,171 January 17, 2022 CA$ 0.19 0.71 – 7,337,914 – – 7,337,914 January 31, 2022 CA$ 0.19 0.75 – 5,382,303 – – 5,382,303 February 21, 2022 CA$ 0.05 0.81 1,505,200 – – – 1,505,200 March 24, 2022 CA$ 0.19 0.90 – 6,554,172 – – 6,554,172 March 27, 2022 CA$ 0.05 0.91 1,482,025 – – – 1,482,025 April 27, 2022 CA$ 0.19 0.99 – 851,395 – – 851,395 May 9, 2022 CA$ 0.05 1.02 2,368,626 – – – 2,368,626 August 14, 2022 CA$ 0.05 1.29 1,110,000 – (400,000 ) – 710,000 Total 10,109,642 25,724,955 (400,000 ) – 35,434,597 Weighted average exercise price CA$ 0.11 CA$ 0.19 CA$ 0.05 – CA$ 0.17 * The Company received approval of the TSX-V on January 13, 2021 and amended the expiry date of 3,643,791 extending the expiry date from January 17, 2021 to August 31, 2021 0.30 [d] Stock options The Company has adopted an incentive stock option plan, effective on August 8, 2017 and as amended on August 8, 2018, under the rules of the TSX-V pursuant to which it is authorized to grant stock options to executive officers, directors, employees and consultants, enabling them to acquire up to 20 Stock options granted are subject to a maximum term of 5 years. All options granted shall vest immediately, except for those options granted to persons performing investor relations activities for the Company On June 11, 2021, the Company adopted the 2021 Equity Incentive Plan which replaces the 2017 Stock Option for providing stock-based compensation to directors, officers, employees, consultants, and advisors of the Company and no further options will be granted under the 2017 Stock Option Plan. Under the 2021 Equity Incentive Plan, the Company is authorized to issue up 27,312,368 5,980,000 1,730,000 33,292,368 2,9,042,368 On December 30, 2020, the Company granted 15,650,000 0.13 9,500,000 6,150,000 On August 30, 2021, the Company granted 21,700,000 0.70 five years On October 1, 2021, the Company granted 1,450,000 0.50 five years On December 3, 2021, the Company granted 250,000 0.58 five years On March 7, 2022, the Company granted 500,000 0.40 five years On April 8, 2022, the Company granted 500,000 0.40 five years As at April 30, 2022, 9,092,368 During the six months April 30, 2022, the Company recognized a stock-based compensation totaling $ 433,829 nil The weighted average grant date fair value of the stock options granted during the six months ended April 30, 2022 was CA$ 0.37 0.09 SCHEDULE OF FAIR VALUE ASSUMPTIONS 2022 2021 Risk free rate of interest 1.34 2.59 0.20 1.07 Expected life of options 5 2 5 Exercise price of options CA$ 0.40 0.58 CA$ 0.13 0.70 Expected annualized volatility 134.93 136.08 130.88 140.05 Expected dividend rate Nil Nil A summary of the changes in the Company’s stock options during the six months ended April 30, 2022 are as follows: SCHEDULE OF STOCK OPTIONS ACTIVITY Expiry Date Exercise Price Weighted Average Life (Years) Outstanding as at October 31, 2021 Granted Exercised Expired/ Cancelled Outstanding as at April 30, 2022 Vested as at April 30, 2022 March 27, 2022 0.05 – 1,500,000 – (750,000 ) (750,000 ) – – December 30, 2022 0.13 0.67 6,000,000 – – (150,000 ) 5,850,000 5,850,000 August 12, 2023 0.05 1.28 2,290,000 – – (750,000 ) 1,540,000 1,540,000 December 3, 2023 0.05 1.59 6,450,000 – – (1,000,000 ) 5,450,000 5,450,000 May 22, 2024 0.12 2.06 7,900,000 – – (850,000 ) 7,050,000 7,050,000 November 3, 2024 0.15 2.52 700,000 – – – 700,000 700,000 November 24, 2024 0.16 2.57 320,000 – – (300,000 ) 20,000 20,000 March 26, 2025 0.11 2.91 100,000 – – – 100,000 100,000 April 23, 2025 0.12 2.98 3,350,000 – – (250,000 ) 3,100,000 3,100,000 December 30, 2025 0.13 3.67 9,500,000 – – – 9,500,000 9,500,000 August 30, 2026 0.70 4.34 21,700,000 – – (200,000 ) 21,500,000 21,350,000 October 1, 2026 0.50 4.42 1,450,000 – – – 1,450,000 1,450,000 December 3, 2026 0.58 4.60 – 250,000 – – 250,000 250,000 March 7, 2027 0.40 4.85 – 500,000 – – 500,000 500,000 April 8, 2027 0.40 4.94 – 500,000 – – 500,000 500,000 Total 61,260,000 1,250,000 (750,000 ) (4,250,000 ) 57,510,000 57,360,000 Weighted average exercise price CA$ 0.33 CA$ 0.44 CA$ 0.05 CA$ 0.11 CA$ 0.34 CA$ 0.33 Aggregate intrinsic value $ 19,994,025 $ (2,149,050 ) $ (2,102,148 ) Weighted average remaining life 3.46 3.15 3.15 A summary of the changes in the Company’s nonvested stock options during the six months ended April 30, 2022 are as follows: SCHEDULE OF NONVESTED STOCK OPTIONS Expiry Date Fair Value Per Share Weighted Average Life (Years) Nonvested as at October 31, 2021 Granted Vested Expired/ Cancelled Nonvested as at April 30, 2022 December 30, 2022 0.07 1.16 162,500 – (162,500 ) – – August 30, 2026 0.56 4.83 300,000 – (150,000 ) – 150,000 Total 462,500 – (312,500 ) – 150,000 Weighted average grant date fair value – per option CA$ 0.39 – CA$ 0.30 – CA$ 0.56 Weighted average grant date fair value – total $ 144,131 – $ 74,063 – $ 65,463 A summary of the changes in the Company’s stock options during the six months ended April 30, 2021 are as follows: Expiry Date Exercise Price Weighted Average Life (Years) Outstanding as at October 31, 2020 Granted Exercised Expired/ Cancelled Outstanding as at April 30, 2021 Vested as at April 30, 2021 February 11, 2021 0.05 0.03 800,000 – – (800,000 ) – – August 16, 2021 0.05 0.54 600,000 – – – 600,000 600,000 March 27, 2022 0.05 1.15 1,750,000 – – – 1,750,000 1,750,000 August 26, 2022 0.13 – 500,000 – – (500,000 ) – – December 30, 2022 0.13 1.91 – 6,150,000 – (6,150,000 ) – – April 19, 2023 0.05 2.21 800,000 – – – 800,000 800,000 August 12, 2023 0.05 2.53 3,120,000 – (100,000 ) – 3,020,000 3,020,000 December 3, 2023 0.05 2.84 7,000,000 – – – 7,000,000 7,000,000 May 22, 2024 0.12 3.31 7,950,000 – – – 7,950,000 7,950,000 November 3, 2024 0.15 3.76 700,000 – – – 700,000 700,000 November 24, 2024 0.16 3.82 900,000 – – – 900,000 900,000 March 26, 2025 0.11 4.15 300,000 – – – 300,000 300,000 April 23, 2025 0.12 4.23 4,000,000 – – (300,000 ) 3,700,000 3,700,000 December 30, 2025 0.13 4.92 – 9,500,000 – (9,500,000 ) – – Total 28,420,000 15,650,000 (100,000 ) (17,250,000 ) 26,720,000 26,720,000 Weighted average exercise price CA$ 0.09 CA$ 0.13 CA$ 0.05 CA$ 0.13 CA$ 0.09 CA$ 0.09 Aggregate intrinsic value $ 801,922 $ 597,721 $ 597,721 Weighted average remaining life 3.18 2.78 2.78 [e] Share-based payments and other reserves The share-based payments and other reserves are used to recognize the fair value of stock options granted to directors, officers, employees and consultants as part of their remuneration, as well as those of broker warrants issued in relation to the Company’s financings. When stock options and broker warrants are subsequently exercised, the fair value of such stock options and broker warrants in additional paid-in capital is credited to share capital. Common share purchase warrants attached to units as part of a unit placement were assigned a $ nil On November 1, 2021, the Company’s functional currency change resulted in the reclassification of its outstanding warrants and broker warrants denominated in Canadian dollars as a derivative liability. The fair value of outstanding broker warrants was reversed out of additional paid-in capital. On November 1, 2021, the Company’s functional currency change resulted in the reclassification of the June 2021 Convertible Debenture from a hybrid financial instrument to a convertible debt instrument with a beneficial conversion feature. The value of the embedded derivative liability was reclassified to additional paid-in capital. [f] Obligations to issue shares As at April 30, 2022, the Company received advance share subscriptions in the amount of $ 388,701 209,827 [g] Dilutive common shares As at April 30, 2022, potentially dilutive common shares relating to common share purchase warrants and options outstanding totaling 96,006,372 120,808,982 |
FINANCIAL INSTRUMENTS AND FINAN
FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT | 6 Months Ended |
Apr. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT | 14. FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT The Company’s classification of its financial instruments is as follows: SCHEDULE OF CLASSIFICATION OF FINANCIAL INSTRUMENTS Financial Instruments Measurement Method Associated Risk Fair Value at April 30, 2022 ($) Cash FVTPL Credit and currency 774,409 Other receivables Amortized cost Credit and currency 50,765 Subscription receivable Amortized cost Credit and currency 185,000 Deposits held by related parties Amortized cost Credit and currency 388,757 Accounts payable and accrued liabilities Amortized cost Currency 2,715,924 Due to related parties Amortized cost Currency 1,253,280 Convertible debenture, net Amortized cost Currency 1,783,584 Warrant liability FVTPL Currency 2,468,261 [a] Fair value The fair value of financial instruments is the amount of consideration that would be agreed upon in an arm’s length transaction between knowledgeable, willing parties who are under no compulsion to act. The fair value of current financial instruments except derivative liability approximates their carrying values as long as they are short-term in nature or bear interest at market rates. [b] Fair value hierarchy Financial instruments that are held at fair value are categorized based on a valuation hierarchy which is determined by the valuation methodology utilized. The fair value hierarchy under US GAAP is based on the following three levels of inputs, of which the first two are considered observable and the last unobservable: Level 1 Level 2 Level 3 The Company evaluates its financial instruments and other contracts to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted for in accordance with ASC 815. The result of this accounting treatment is that the fair value of the embedded derivative is marked-to-market at each balance sheet date and recorded as a liability and the change in fair value is recorded in the consolidated statements of loss and comprehensive loss. Upon conversion or exercise of a derivative instrument, the instrument is marked to market at the conversion date and then that fair value is reclassified to equity. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is re-assessed at the end of each reporting period. Derivative instruments that become subject to reclassification are reclassified at the fair value of the instrument on the reclassification date. Derivative instrument liabilities will be classified on the consolidated balance sheets as current or non-current based on whether or not settlement of the derivative instrument is expected within 12 months of the balance sheet date. The Company uses the Black-Scholes Option Pricing Model to value derivative liabilities. This model uses Level 3 inputs in the fair value hierarchy established by ASC 820 Fair Value Measurement. The inputs used in determining the fair value of the embedded derivative are disclosed in note 12[e] [c] Financial risk management The Company’s board of directors has the overall responsibility for the establishment and oversight of the Company’s risk management framework. The Company’s risk management policies are established to identify and analyze the risks faced by the Company, to set appropriate risk limits and controls, and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and in response to the Company’s activities. Management regularly monitors compliance with the Company’s risk management policies and procedures and reviews the adequacy of the risk management framework in relation to the risks faced by the Company. In the normal course of operations, the Company is exposed to various risks such interest rate, foreign exchange, commodity, credit, and liquidity. To manage these risks, management determines what activities must be undertaken to minimize potential exposure to risks. The objectives of the Company in managing risks are as follows: ● Maintaining sound financial condition: ● Financing operations; and ● Ensuring liquidity to all operations. In order to satisfy these objectives, the Company has adopted the following policies: ● Prepare budget documents at prevailing market rates to ensure clear corporate alignment to performance management and achievement of targets; ● Recognize and observe the extent of operating risk within the business; and ● Identify the magnitude of the impact of market risk factors on the overall risk of the business and take advantage of natural risk reductions that arise from these relationships. [i] Interest rate risk Interest rate risk is the risk that future cash flows of a financial instrument will fluctuate because of changes in the market interest rates. The Company is exposed to interest rate risk on its cash on deposits with banks and, from time to time, on its holdings of short-term investments. As of April 30, 2022, the Company had $ 774,409 462,360 no [ii] Foreign currency risk The Company is exposed to foreign currency risk on fluctuations related to cash, other receivables, accounts payable, due to related parties and convertible debenture that are denominated in Canadian dollars. The Company has not entered into foreign exchange derivative contracts. A significant change in the currency exchange rates between the US dollar relative to the Canadian dollar could have a material effect on the Company’s financial position, results of operations, or cash flows. Based on the Company net exposures as at April 30, 2022, assuming that all other variables remain constant, a 5 78,312 The Company had the following assets and liabilities denominated in Canadian dollars: SCHEDULE OF FOREIGN CURRENCY RISK April 30, 2022 CA$ Cash 208,683 Other receivables 64,930 Accounts payable and accrued liabilities (1,511,845 ) Due to related parties (765,409 ) Total (2,003,641 ) [iii] Commodity price risk The value of the Company’s magnesium production business and its exploration and evaluation assets are dependent on the price of magnesium and the outlook for this mineral. Market prices for these metals historically have fluctuated widely and are affected by numerous factors outside the Company’s control, including but not limited to, levels of worldwide production, short-term changes in supply and demand, industrial and retail demand, as well as certain other factors related specifically to magnesium. If magnesium prices decline for a prolonged period below the cost of production, it may not be economically feasible to continue towards production. [iv] Credit risk Credit risk is the risk of loss if counterparties do not fulfill their contractual obligations and arises principally from trade receivables. The Company’s credit risk is primarily attributable to cash, and deposits held by related parties. The Company limits its exposure to credit risk on cash as these financial instruments are held with major Canadian and international banks. Other receivables consist primarily of GST due from the Federal Government of Canada. Management believes the credit risk concentration with respect to other receivables is remote. The carrying amount of financial assets recorded in the financial statements, net of any allowances, represents the Company’s maximum exposure to credit risk. [v] Liquidity risk Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they come due. The Company’s exposure to liquidity risk is dependent on its purchasing commitments and obligations and its ability to raise funds to meet commitments and sustain operations. The Company manages liquidity risk by continuously monitoring its actual and forecasted working capital requirements to ensure there is capital to meet short-term and long-term obligations. As of April 30, 2022 and October 31, 2021, the Company had working capital deficiency of $ 7,172,573 and $ 9,657,316 , respectively. As disclosed in note 1 |
SEGMENTED INFORMATION
SEGMENTED INFORMATION | 6 Months Ended |
Apr. 30, 2022 | |
Segment Reporting [Abstract] | |
SEGMENTED INFORMATION | 15. SEGMENTED INFORMATION The Company focuses on plant operations and magnesium production and continues to move towards the buildout of its pilot plant facility and the development of a full-scale commercial magnesium production facility. The Company also owns mining claims for the exploration and development of mineral property interests. Geographic information for the Company’s assets is as follows: SCHEDULE OF ASSETS INFORMATION April 30, 2022 October 31, 2021 $ $ Canada – property, plant and equipment 3,946,315 2,546,383 United States – property, plant and equipment 31,304 28,321 United States – mineral property costs 93,453 93,453 Property, plant and equipment net 4,071,072 2,668,157 Canada – other assets 392,853 1,554,827 United States – other assets 1,611,578 290,528 Other assets 2,004,431 1,845,355 Total Assets 6,075,503 4,513,512 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 6 Months Ended |
Apr. 30, 2022 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | 16. SUBSEQUENT EVENTS Subsequent to April 30 2022, upon exercise of common share purchase warrants, the Company issued an aggregate 3,793,331 0.19 720,733 800,000 0.05 40,000 1,153,414 13,725 Subsequent to April 30, 2022, upon exercise of stock options, the Company issued 300,000 0.05 15,000 250,000 0.13 32,500 On May 9, 2022, the Company closed the first tranche of a non-brokered private placement and issued 1,727,000 units at a price of $ 0.25 per unit for gross proceeds of $ 431,750 . On June 3, 2022, the Company closed the second and final tranche of the non-brokered private placement and issued 740,000 0.25 185,000 2,467,000 616,750 Each unit consists of one common share and one common share purchase warrant entitling the holder thereof to acquire a further common share at a price of $0.45 for a period of one year from the date of closing . On June 8, 2022, the Company issued 1,000,000 1,000,000 500,000 0.13 500,000 0.19 |
PROPERTY, PLANT AND EQUIPMENT (
PROPERTY, PLANT AND EQUIPMENT (Tables) | 6 Months Ended |
Apr. 30, 2022 | |
Property, Plant and Equipment [Abstract] | |
SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT | SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT Computer Equipment Furniture Leasehold Improvement Furnace & Plant Equipment Vehicle Total $ $ $ $ $ $ Cost Balance, October 31, 2020 32,318 38,916 7,610 28,413 – 107,257 Additions 77,955 11,510 129,257 2,278,205 – 2,496,927 Write-off of equipment (4,245 ) – – – – (4,245 ) Foreign exchange effect 3,601 3,116 2,614 38,108 – 47,439 Balance, October 31, 2021 109,629 53,542 139,481 2,344,726 – 2,647,378 Additions 7,008 2,171 107,014 1,456,591 29,215 1,601,999 Foreign exchange effect – (288 ) (5,306 ) (70,509 ) (302 ) (76,405 ) Balance, April 30, 2022 116,637 55,425 241,189 3,730,808 28,913 4,172,972 Accumulated Depreciation Balance, October 31, 2020 14,677 8,326 4,818 – – 27,821 Depreciation expense 13,907 7,443 8,827 13,971 – 44,148 Write-off of equipment (2,057 ) – – – – (2,057 ) Foreign exchange effect 1,294 745 502 221 – 2,762 Balance, October 31, 2021 27,821 16,514 14,147 14,192 – 72,674 Depreciation expense 18,236 3,833 15,217 83,755 2,920 123,961 Foreign exchange effect – (48 ) (404 ) (801 ) (29 ) (1,282 ) Balance, April 30, 2022 46,057 20,299 28,960 97,146 2,891 195,353 Net Book Value Balance, October 31, 2020 17,641 30,590 2,792 28,413 – 79,436 Balance, October 31, 2021 81,808 37,028 125,334 2,330,534 – 2,574,704 Balance, April 30, 2022 70,580 35,126 212,229 3,633,662 26,022 3,977,619 |
RIGHT-OF-USE ASSETS (Tables)
RIGHT-OF-USE ASSETS (Tables) | 6 Months Ended |
Apr. 30, 2022 | |
Right-of-use Assets | |
SCHEDULE OF RIGHT- OF - USE ASSETS | SCHEDULE OF RIGHT- OF - USE ASSETS Vancouver Office Virginia Office Nevada Office Pilot Plant Total $ $ $ $ $ Cost Balance, October 31, 2020 59,701 – 22,856 357,949 440,506 Additions 91,237 287,847 – – 379,084 Foreign exchange effect 5,943 4,544 1,724 26,997 39,208 Balance, October 31, 2021 156,881 292,391 24,580 384,946 858,798 Foreign exchange effect – (3,038 ) – (12,278 ) (15,316 ) Balance, April 30, 2022 156,881 289,353 24,580 372,668 843,482 Accumulated Depreciation Balance, October 31, 2020 42,142 – 14,434 9,943 66,519 Depreciation expense 44,259 15,288 8,915 117,292 185,754 Foreign exchange effect 3,876 241 1,231 2,602 7,950 Balance, October 31, 2021 90,277 15,529 24,580 129,837 260,223 Depreciation expense 22,229 33,790 – 62,347 118,366 Foreign exchange effect – (162 ) – (4,766 ) (4,928 ) Balance, April 30, 2022 112,506 49,157 24,580 187,418 373,661 Net Book Value Balance, October 31, 2020 17,559 – 8,422 348,006 373,987 Balance, October 31, 2021 66,604 276,862 – 255,109 598,575 Balance, April 30, 2022 44,375 240,196 – 185,250 469,821 |
LEASE OBLIGATIONS (Tables)
LEASE OBLIGATIONS (Tables) | 6 Months Ended |
Apr. 30, 2022 | |
Lease Obligations | |
SCHEDULE OF OPERATING LEASE | SCHEDULE OF OPERATING LEASE Vancouver Office Virginia Office Nevada Office Pilot Plant Total $ $ $ $ $ Balance, October 31, 2020 18,123 – 12,211 350,593 380,927 Additions 91,237 260,649 – – 351,886 Lease payments (47,931 ) (5,137 ) (9,457 ) (139,037 ) (201,562 ) Interest expense 3,076 3,019 219 19,005 25,319 Prior period adjustment – – (3,065 ) – (3,065 ) Foreign exchange effect 2,099 4,081 92 24,548 30,820 Balance, October 31, 2021 66,604 262,612 – 255,109 584,325 Lease payments (24,187 ) – – (69,057 ) (93,244 ) Interest expense 1,958 9,230 – 6,711 17,899 Foreign exchange effect – (2,728 ) – (7,513 ) (10,241 ) Balance, April 30, 2022 44,375 269,114 – 185,250 498,739 Which consist of: Current lease obligation 44,375 71,092 – 129,125 244,592 Non-current lease obligation – 198,022 – 56,125 254,147 Balance, April 30, 2022 44,375 269,114 – 185,250 498,739 |
RELATED PARTY TRANSACTIONS (Tab
RELATED PARTY TRANSACTIONS (Tables) | 6 Months Ended |
Apr. 30, 2022 | |
Related Party Transactions [Abstract] | |
SCHEDULE OF DEPOSITS HELD BY RELATED PARTY | SCHEDULE OF DEPOSITS HELD BY RELATED PARTY Related Party A [i] Related Party B [ii] Total $ $ $ Balance, October 31, 2020 – – – Advances 987,912 2,292,912 3,280,824 Costs and expenses (696,431 ) (2,097,931 ) (2,794,362 ) Balance, October 31, 2021 291,481 194,981 486,462 Advances 330,930 1,225,118 1,556,048 Costs and expenses (249,872 ) (1,420,829 ) (1,670,701 ) Foreign exchange effect 16,218 730 16,948 Balance, April 30, 2022 388,757 – 388,757 [i] Related Party A is a company controlled by a director and officer. [ii] Related Party B is a company controlled by an officer. |
SCHEDULE OF DUE TO RELATED PARTIES | SCHEDULE OF DUE TO RELATED PARTIES April 30, 2022 October 31, $ $ Wages payable to directors and officers 357,500 357,500 Benefits payable to directors and officers 730,810 539,209 Fees and expenses payable to directors and officers 164,970 127,878 Interest due to a shareholder – 2,230 Total 1,253,280 1,026,817 |
CONVERTIBLE DEBENTURE AND DER_2
CONVERTIBLE DEBENTURE AND DERIVATIVE LIABILITY (Tables) | 6 Months Ended |
Apr. 30, 2022 | |
Debt Disclosure [Abstract] | |
SCHEDULE OF DERIVATIVE INSTRUMENTS | SCHEDULE OF DERIVATIVE INSTRUMENTS July 2020 Convertible Debenture July 2021 Convertible Debenture June 2021 Convertible Debenture April 2022 Convertible Debenture Total $ $ $ $ $ Debt Host Liability Balance, October 31, 2020 96,318 – – – 96,318 Fair value of debt host liability recognized – – 1 – 1 Accretion and interest expense 23,587 63 43 – 23,693 Conversion (125,560 ) – – – (125,560 ) Foreign currency translation 5,655 – – – 5,655 Balance, October 31, 2021 – 63 44 – 107 Effects of functional currency change – – 1,500,000 – 1,500,000 Fair value at inception – – – 2,000,000 2,000,000 Accretion and interest expense – 28,050 5,610 17,159 50,819 Conversion – (28,031 ) (600,000 ) – (628,031 ) Foreign currency translation – (82 ) – – (82 ) Balance, April 30, 2022 – – 905,654 2,017,159 2,922,813 Embedded Derivative Liability Balance, October 31, 2020 20,123 – – – 20,123 Fair value of embedded derivative liability recognized – – 1,646,600 – 1,646,600 Fair value adjustment (16,058 ) – 5,717,328 – 5,701,270 Conversion (5,247 ) – – – (5,247 ) Foreign currency translation 1,182 – 85,772 – 86,954 Balance, October 31, 2021 – – 7,449,700 – 7,449,700 Effects of functional currency change – 421,094 (7,449,700 ) – (7,028,606 ) Fair value adjustment – (259,447 ) – – (259,447 ) Conversion – (158,169 ) – – (158,169 ) Foreign currency translation – (3,478 ) – – (3,478 ) Balance, April 30, 2022 – – – – – Debt Discount Balance, October 31, 2021 – – – – – Effects of functional currency change – – (1,500,000 ) – (1,500,000 ) Inception – – – (240,000 ) (240,000 ) Amortization – – 600,769 2 600,771 Balance, April 30, 2022 – – (899,231 ) (239,998 ) (1,139,229 ) Combined Value of Convertible Debenture Balance, October 31, 2020 116,441 – – – 116,441 Balance, October 31, 2021 – 63 7,449,744 7,449,744 7,449,807 Balance, April 30, 2022 – – 6,423 1,777,161 1,783,584 |
SCHEDULE OF OPTION PRICING MODEL | The inputs used in the Black-Scholes Option Pricing Model are as follows: SCHEDULE OF OPTION PRICING MODEL April 22, November 1, October 31, June 15, July 27, 2022 2021 2021 2021 2020 Risk free rate of interest 2.65 % 1.07 % 1.08 % 0.31 % 0.26 % Expected life in years 0.23 0.70 1.11 1.50 0.74 Conversion exercise price CA$ 0.12 CA$ 0.12 $ 0.10 $ 0.10 CA$ 0.15 Underlying share price of the Company CA$ 0.36 CA$ 0.75 $ 0.59 $ 0.19 CA$ 0.13 Expected volatility 99.90 % 124.34 % 107.62 % 87.17 % 82.54 % Expected dividend rate Nil Nil Nil Nil Nil |
SHARE CAPITAL (Tables)
SHARE CAPITAL (Tables) | 6 Months Ended |
Apr. 30, 2022 | |
Equity [Abstract] | |
SUMMARY OF CHANGES IN COMMON SHARE PURCHASE WARRANTS | A summary of the changes in the Company’s common share purchase warrants during the six months ended April 30, 2022 are as follows: SUMMARY OF CHANGES IN COMMON SHARE PURCHASE WARRANTS Expiry Date Exercise Price Weighted Average Life (Years) October 31, 2021 Granted Exercised Expired/ Cancelled April 30, 2022 Expiry Date Exercise Price Weighted Average Life (Years) October 31, 2021 Granted Exercised Expired/ Cancelled April 30, 2022 November 22, 2021 CA$ 0.19 – 4,160,021 – (4,080,573 ) (79,448 ) – January 17, 2022 CA$ 0.19 – 7,267,914 – (5,959,396 ) (1,308,518 ) – January 31, 2022 CA$ 0.19 – 5,382,303 – (4,341,906 ) (1,040,397 ) – February 21, 2022 CA$ 0.05 – 1,505,200 – (200,000 ) (1,305,200 ) – March 24, 2022 CA$ 0.19 – 6,341,872 – (4,515,139 ) (1,826,733 ) – March 27, 2022 CA$ 0.05 – 982,025 – (882,025 ) (100,000 ) – April 27, 2022 CA$ 0.19 – 791,395 – (791,395 ) – – May 9, 2022 CA$ 0.05 0.02 1,813,725 – (1,000,000 ) – 813,725 May 30, 2022 CA$ 0.19 0.08 5,223,420 – (276,675 ) – 4,946,745 June 17, 2022 CA$ 0.19 0.13 17,703,506 – (1,393,077 ) – 16,310,429 July 18, 2022 CA$ 0.30 0.22 4,350,000 – (60,960 ) – 4,289,040 August 14, 2022 CA$ 0.05 0.29 200,000 – (200,000 ) – – February 13, 2023 CA$ 0.65 0.79 3,827,601 – – – 3,827,601 April 22, 2024 CA$ 0.20 1.98 – 933,333 – – 933,333 Subtotal 59,548,982 933,333 (23,701,146 ) (5,660,296 ) 31,120,873 Weighted average exercise price CA$ 0.22 CA$ 0.20 CA$ 0.18 CA$ 0.16 CA$ 0.26 November 27, 2022 US$ 0.75 0.58 – 1,375,499 – – 1,375,499 June 10, 2026 US$ 0.13 4.12 – 3,000,000 – – 1,500,000 June 10, 2026 US$ 0.19 4.12 – 3,000,000 – – 1,500,000 Subtotal – 7,375,499 – – 4,375,499 Weighted average exercise price – US$ 0.27 – – US$ 0.27 Total 59,548,982 8,308,832 (23,701,146 ) (5,660,296 ) 38,496,372 A summary of the changes in the Company’s common share purchase warrants during the six months ended April 30, 2021 are as follows: Expiry Date Exercise Price Weighted Average Life (Years) October 31, 2020 Granted Exercised Expired/ Cancelled April 30, 2021 August 31, 2021 * CA$ 0.21 0.34 3,643,791 – – – 3,643,791 November 22, 2021 CA$ 0.19 0.56 – 5,599,171 – – 5,599,171 January 17, 2022 CA$ 0.19 0.71 – 7,337,914 – – 7,337,914 January 31, 2022 CA$ 0.19 0.75 – 5,382,303 – – 5,382,303 February 21, 2022 CA$ 0.05 0.81 1,505,200 – – – 1,505,200 March 24, 2022 CA$ 0.19 0.90 – 6,554,172 – – 6,554,172 March 27, 2022 CA$ 0.05 0.91 1,482,025 – – – 1,482,025 April 27, 2022 CA$ 0.19 0.99 – 851,395 – – 851,395 May 9, 2022 CA$ 0.05 1.02 2,368,626 – – – 2,368,626 August 14, 2022 CA$ 0.05 1.29 1,110,000 – (400,000 ) – 710,000 Total 10,109,642 25,724,955 (400,000 ) – 35,434,597 Weighted average exercise price CA$ 0.11 CA$ 0.19 CA$ 0.05 – CA$ 0.17 * The Company received approval of the TSX-V on January 13, 2021 and amended the expiry date of 3,643,791 extending the expiry date from January 17, 2021 to August 31, 2021 0.30 |
SCHEDULE OF FAIR VALUE ASSUMPTIONS | SCHEDULE OF FAIR VALUE ASSUMPTIONS 2022 2021 Risk free rate of interest 1.34 2.59 0.20 1.07 Expected life of options 5 2 5 Exercise price of options CA$ 0.40 0.58 CA$ 0.13 0.70 Expected annualized volatility 134.93 136.08 130.88 140.05 Expected dividend rate Nil Nil |
SCHEDULE OF STOCK OPTIONS ACTIVITY | A summary of the changes in the Company’s stock options during the six months ended April 30, 2022 are as follows: SCHEDULE OF STOCK OPTIONS ACTIVITY Expiry Date Exercise Price Weighted Average Life (Years) Outstanding as at October 31, 2021 Granted Exercised Expired/ Cancelled Outstanding as at April 30, 2022 Vested as at April 30, 2022 March 27, 2022 0.05 – 1,500,000 – (750,000 ) (750,000 ) – – December 30, 2022 0.13 0.67 6,000,000 – – (150,000 ) 5,850,000 5,850,000 August 12, 2023 0.05 1.28 2,290,000 – – (750,000 ) 1,540,000 1,540,000 December 3, 2023 0.05 1.59 6,450,000 – – (1,000,000 ) 5,450,000 5,450,000 May 22, 2024 0.12 2.06 7,900,000 – – (850,000 ) 7,050,000 7,050,000 November 3, 2024 0.15 2.52 700,000 – – – 700,000 700,000 November 24, 2024 0.16 2.57 320,000 – – (300,000 ) 20,000 20,000 March 26, 2025 0.11 2.91 100,000 – – – 100,000 100,000 April 23, 2025 0.12 2.98 3,350,000 – – (250,000 ) 3,100,000 3,100,000 December 30, 2025 0.13 3.67 9,500,000 – – – 9,500,000 9,500,000 August 30, 2026 0.70 4.34 21,700,000 – – (200,000 ) 21,500,000 21,350,000 October 1, 2026 0.50 4.42 1,450,000 – – – 1,450,000 1,450,000 December 3, 2026 0.58 4.60 – 250,000 – – 250,000 250,000 March 7, 2027 0.40 4.85 – 500,000 – – 500,000 500,000 April 8, 2027 0.40 4.94 – 500,000 – – 500,000 500,000 Total 61,260,000 1,250,000 (750,000 ) (4,250,000 ) 57,510,000 57,360,000 Weighted average exercise price CA$ 0.33 CA$ 0.44 CA$ 0.05 CA$ 0.11 CA$ 0.34 CA$ 0.33 Aggregate intrinsic value $ 19,994,025 $ (2,149,050 ) $ (2,102,148 ) Weighted average remaining life 3.46 3.15 3.15 A summary of the changes in the Company’s stock options during the six months ended April 30, 2021 are as follows: Expiry Date Exercise Price Weighted Average Life (Years) Outstanding as at October 31, 2020 Granted Exercised Expired/ Cancelled Outstanding as at April 30, 2021 Vested as at April 30, 2021 February 11, 2021 0.05 0.03 800,000 – – (800,000 ) – – August 16, 2021 0.05 0.54 600,000 – – – 600,000 600,000 March 27, 2022 0.05 1.15 1,750,000 – – – 1,750,000 1,750,000 August 26, 2022 0.13 – 500,000 – – (500,000 ) – – December 30, 2022 0.13 1.91 – 6,150,000 – (6,150,000 ) – – April 19, 2023 0.05 2.21 800,000 – – – 800,000 800,000 August 12, 2023 0.05 2.53 3,120,000 – (100,000 ) – 3,020,000 3,020,000 December 3, 2023 0.05 2.84 7,000,000 – – – 7,000,000 7,000,000 May 22, 2024 0.12 3.31 7,950,000 – – – 7,950,000 7,950,000 November 3, 2024 0.15 3.76 700,000 – – – 700,000 700,000 November 24, 2024 0.16 3.82 900,000 – – – 900,000 900,000 March 26, 2025 0.11 4.15 300,000 – – – 300,000 300,000 April 23, 2025 0.12 4.23 4,000,000 – – (300,000 ) 3,700,000 3,700,000 December 30, 2025 0.13 4.92 – 9,500,000 – (9,500,000 ) – – Total 28,420,000 15,650,000 (100,000 ) (17,250,000 ) 26,720,000 26,720,000 Weighted average exercise price CA$ 0.09 CA$ 0.13 CA$ 0.05 CA$ 0.13 CA$ 0.09 CA$ 0.09 Aggregate intrinsic value $ 801,922 $ 597,721 $ 597,721 Weighted average remaining life 3.18 2.78 2.78 |
SCHEDULE OF NONVESTED STOCK OPTIONS | A summary of the changes in the Company’s nonvested stock options during the six months ended April 30, 2022 are as follows: SCHEDULE OF NONVESTED STOCK OPTIONS Expiry Date Fair Value Per Share Weighted Average Life (Years) Nonvested as at October 31, 2021 Granted Vested Expired/ Cancelled Nonvested as at April 30, 2022 December 30, 2022 0.07 1.16 162,500 – (162,500 ) – – August 30, 2026 0.56 4.83 300,000 – (150,000 ) – 150,000 Total 462,500 – (312,500 ) – 150,000 Weighted average grant date fair value – per option CA$ 0.39 – CA$ 0.30 – CA$ 0.56 Weighted average grant date fair value – total $ 144,131 – $ 74,063 – $ 65,463 |
FINANCIAL INSTRUMENTS AND FIN_2
FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT (Tables) | 6 Months Ended |
Apr. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
SCHEDULE OF CLASSIFICATION OF FINANCIAL INSTRUMENTS | The Company’s classification of its financial instruments is as follows: SCHEDULE OF CLASSIFICATION OF FINANCIAL INSTRUMENTS Financial Instruments Measurement Method Associated Risk Fair Value at April 30, 2022 ($) Cash FVTPL Credit and currency 774,409 Other receivables Amortized cost Credit and currency 50,765 Subscription receivable Amortized cost Credit and currency 185,000 Deposits held by related parties Amortized cost Credit and currency 388,757 Accounts payable and accrued liabilities Amortized cost Currency 2,715,924 Due to related parties Amortized cost Currency 1,253,280 Convertible debenture, net Amortized cost Currency 1,783,584 Warrant liability FVTPL Currency 2,468,261 |
SCHEDULE OF FOREIGN CURRENCY RISK | SCHEDULE OF FOREIGN CURRENCY RISK April 30, 2022 CA$ Cash 208,683 Other receivables 64,930 Accounts payable and accrued liabilities (1,511,845 ) Due to related parties (765,409 ) Total (2,003,641 ) |
SEGMENTED INFORMATION (Tables)
SEGMENTED INFORMATION (Tables) | 6 Months Ended |
Apr. 30, 2022 | |
Segment Reporting [Abstract] | |
SCHEDULE OF ASSETS INFORMATION | SCHEDULE OF ASSETS INFORMATION April 30, 2022 October 31, 2021 $ $ Canada – property, plant and equipment 3,946,315 2,546,383 United States – property, plant and equipment 31,304 28,321 United States – mineral property costs 93,453 93,453 Property, plant and equipment net 4,071,072 2,668,157 Canada – other assets 392,853 1,554,827 United States – other assets 1,611,578 290,528 Other assets 2,004,431 1,845,355 Total Assets 6,075,503 4,513,512 |
NATURE OF OPERATIONS AND GOIN_2
NATURE OF OPERATIONS AND GOING CONCERN (Details Narrative) - USD ($) | 6 Months Ended | ||
Apr. 30, 2022 | Apr. 30, 2021 | Oct. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Retained Earnings (Accumulated Deficit) | $ 65,894,907 | $ 52,129,621 | |
Working capital deficit | 7,172,573 | $ 9,657,316 | |
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | 13,551,323 | $ 2,745,438 | |
Cash | $ 4,000,000 |
SCHEDULE OF PROPERTY, PLANT AND
SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) | 6 Months Ended | 12 Months Ended | ||
Apr. 30, 2022 | Apr. 30, 2021 | Oct. 31, 2021 | Oct. 31, 2020 | |
Property, Plant and Equipment [Line Items] | ||||
Balance, October 31, 2021 | $ 2,647,378 | $ 107,257 | $ 107,257 | |
Additions | 1,601,999 | 2,496,927 | ||
Write-off of equipment | (4,245) | |||
Foreign exchange effect | (76,405) | 47,439 | ||
Balance, April 30, 2022 | 4,172,972 | 2,647,378 | ||
Balance, October 31, 2021 | 72,674 | 27,821 | 27,821 | |
Depreciation expense | 123,961 | 8,645 | 44,148 | |
Write-off of equipment | (2,057) | |||
Foreign exchange effect | (1,282) | 2,762 | ||
Balance, April 30, 2022 | 195,353 | 72,674 | ||
Net book value | 3,977,619 | 2,574,704 | $ 79,436 | |
Computer Equipment [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Balance, October 31, 2021 | 109,629 | 32,318 | 32,318 | |
Additions | 7,008 | 77,955 | ||
Write-off of equipment | (4,245) | |||
Foreign exchange effect | 3,601 | |||
Balance, April 30, 2022 | 116,637 | 109,629 | ||
Balance, October 31, 2021 | 27,821 | 14,677 | 14,677 | |
Depreciation expense | 18,236 | 13,907 | ||
Write-off of equipment | (2,057) | |||
Foreign exchange effect | 1,294 | |||
Balance, April 30, 2022 | 46,057 | 27,821 | ||
Net book value | 70,580 | 81,808 | 17,641 | |
Furniture and Fixtures [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Balance, October 31, 2021 | 53,542 | 38,916 | 38,916 | |
Additions | 2,171 | 11,510 | ||
Write-off of equipment | ||||
Foreign exchange effect | (288) | 3,116 | ||
Balance, April 30, 2022 | 55,425 | 53,542 | ||
Balance, October 31, 2021 | 16,514 | 8,326 | 8,326 | |
Depreciation expense | 3,833 | 7,443 | ||
Write-off of equipment | ||||
Foreign exchange effect | (48) | 745 | ||
Balance, April 30, 2022 | 20,299 | 16,514 | ||
Net book value | 35,126 | 37,028 | 30,590 | |
Leasehold Improvements [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Balance, October 31, 2021 | 139,481 | 7,610 | 7,610 | |
Additions | 107,014 | 129,257 | ||
Write-off of equipment | ||||
Foreign exchange effect | (5,306) | 2,614 | ||
Balance, April 30, 2022 | 241,189 | 139,481 | ||
Balance, October 31, 2021 | 14,147 | 4,818 | 4,818 | |
Depreciation expense | 15,217 | 8,827 | ||
Write-off of equipment | ||||
Foreign exchange effect | (404) | 502 | ||
Balance, April 30, 2022 | 28,960 | 14,147 | ||
Net book value | 212,229 | 125,334 | 2,792 | |
Furnace and Plant Equipment [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Balance, October 31, 2021 | 2,344,726 | 28,413 | 28,413 | |
Additions | 1,456,591 | 2,278,205 | ||
Write-off of equipment | ||||
Foreign exchange effect | (70,509) | 38,108 | ||
Balance, April 30, 2022 | 3,730,808 | 2,344,726 | ||
Balance, October 31, 2021 | 14,192 | |||
Depreciation expense | 83,755 | 13,971 | ||
Write-off of equipment | ||||
Foreign exchange effect | (801) | 221 | ||
Balance, April 30, 2022 | 97,146 | 14,192 | ||
Net book value | 3,633,662 | 2,330,534 | 28,413 | |
Vehicles [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Balance, October 31, 2021 | ||||
Additions | 29,215 | |||
Write-off of equipment | ||||
Foreign exchange effect | (302) | |||
Balance, April 30, 2022 | 28,913 | |||
Balance, October 31, 2021 | ||||
Depreciation expense | 2,920 | |||
Write-off of equipment | ||||
Foreign exchange effect | (29) | |||
Balance, April 30, 2022 | 2,891 | |||
Net book value | $ 26,022 |
SCHEDULE OF RIGHT- OF - USE ASS
SCHEDULE OF RIGHT- OF - USE ASSETS (Details) - USD ($) | 6 Months Ended | 12 Months Ended | ||
Apr. 30, 2022 | Apr. 30, 2021 | Oct. 31, 2021 | Oct. 31, 2020 | |
Balance, October 31, 2021 | $ 858,798 | $ 440,506 | $ 440,506 | |
Additions | 379,084 | |||
Foreign exchange effect | (15,316) | 39,208 | ||
Balance, April 30, 2022 | 843,482 | 858,798 | ||
Balance, October 31, 2021 | 260,223 | 66,519 | 66,519 | |
Depreciation expense | 118,366 | 88,348 | 185,754 | |
Foreign exchange effect | (4,928) | 7,950 | ||
Balance, April 30, 2022 | 373,661 | 260,223 | ||
Net book value | 469,821 | 598,575 | $ 373,987 | |
Vancouver Office [Member] | ||||
Balance, October 31, 2021 | 156,881 | 59,701 | 59,701 | |
Additions | 91,237 | |||
Foreign exchange effect | 5,943 | |||
Balance, April 30, 2022 | 156,881 | 156,881 | ||
Balance, October 31, 2021 | 90,277 | 42,142 | 42,142 | |
Depreciation expense | 22,229 | 44,259 | ||
Foreign exchange effect | 3,876 | |||
Balance, April 30, 2022 | 112,506 | 90,277 | ||
Net book value | 44,375 | 66,604 | 17,559 | |
Virginia Office [Member] | ||||
Balance, October 31, 2021 | 292,391 | |||
Additions | 287,847 | |||
Foreign exchange effect | (3,038) | 4,544 | ||
Balance, April 30, 2022 | 289,353 | 292,391 | ||
Balance, October 31, 2021 | 15,529 | |||
Depreciation expense | 33,790 | 15,288 | ||
Foreign exchange effect | (162) | 241 | ||
Balance, April 30, 2022 | 49,157 | 15,529 | ||
Net book value | 240,196 | 276,862 | ||
Nevada Office [Member] | ||||
Balance, October 31, 2021 | 24,580 | 22,856 | 22,856 | |
Additions | ||||
Foreign exchange effect | 1,724 | |||
Balance, April 30, 2022 | 24,580 | 24,580 | ||
Balance, October 31, 2021 | 24,580 | 14,434 | 14,434 | |
Depreciation expense | 8,915 | |||
Foreign exchange effect | 1,231 | |||
Balance, April 30, 2022 | 24,580 | 24,580 | ||
Net book value | 8,422 | |||
Pilot Plant [Member] | ||||
Balance, October 31, 2021 | 384,946 | 357,949 | 357,949 | |
Additions | ||||
Foreign exchange effect | (12,278) | 26,997 | ||
Balance, April 30, 2022 | 372,668 | 384,946 | ||
Balance, October 31, 2021 | 129,837 | $ 9,943 | 9,943 | |
Depreciation expense | 62,347 | 117,292 | ||
Foreign exchange effect | (4,766) | 2,602 | ||
Balance, April 30, 2022 | 187,418 | 129,837 | ||
Net book value | $ 185,250 | $ 255,109 | $ 348,006 |
SCHEDULE OF OPERATING LEASE (De
SCHEDULE OF OPERATING LEASE (Details) - USD ($) | 6 Months Ended | 12 Months Ended |
Apr. 30, 2022 | Oct. 31, 2021 | |
Balance, October 31, 2021 | $ 584,325 | $ 380,927 |
Additions | 351,886 | |
Lease payments | (93,244) | (201,562) |
Interest expense | 17,899 | 25,319 |
Prior period adjustment | (3,065) | |
Foreign exchange effect | (10,241) | 30,820 |
Balance, April 30, 2022 | 498,739 | 584,325 |
Current lease obligation | 244,592 | 192,045 |
Non-current lease obligation | 254,147 | 392,280 |
Vancouver Office [Member] | ||
Balance, October 31, 2021 | 66,604 | 18,123 |
Additions | 91,237 | |
Lease payments | (24,187) | (47,931) |
Interest expense | 1,958 | 3,076 |
Prior period adjustment | ||
Foreign exchange effect | 2,099 | |
Balance, April 30, 2022 | 44,375 | 66,604 |
Current lease obligation | 44,375 | |
Non-current lease obligation | ||
Virginia Office [Member] | ||
Balance, October 31, 2021 | 262,612 | |
Additions | 260,649 | |
Lease payments | (5,137) | |
Interest expense | 9,230 | 3,019 |
Prior period adjustment | ||
Foreign exchange effect | (2,728) | 4,081 |
Balance, April 30, 2022 | 269,114 | 262,612 |
Current lease obligation | 71,092 | |
Non-current lease obligation | 198,022 | |
Nevada Office [Member] | ||
Balance, October 31, 2021 | 12,211 | |
Additions | ||
Lease payments | (9,457) | |
Interest expense | 219 | |
Prior period adjustment | (3,065) | |
Foreign exchange effect | 92 | |
Balance, April 30, 2022 | ||
Current lease obligation | ||
Non-current lease obligation | ||
Pilot Plant [Member] | ||
Balance, October 31, 2021 | 255,109 | 350,593 |
Additions | ||
Lease payments | (69,057) | (139,037) |
Interest expense | 6,711 | 19,005 |
Prior period adjustment | ||
Foreign exchange effect | (7,513) | 24,548 |
Balance, April 30, 2022 | 185,250 | $ 255,109 |
Current lease obligation | 129,125 | |
Non-current lease obligation | $ 56,125 |
LEASE OBLIGATIONS (Details Narr
LEASE OBLIGATIONS (Details Narrative) - USD ($) | Apr. 30, 2022 | Oct. 31, 2021 | Oct. 31, 2020 | Nov. 02, 2019 |
Operating lease, liability | $ 498,739 | $ 584,325 | $ 380,927 | $ 83,549 |
Lessee, operating lease, discount rate | 7.00% | |||
British Columbia [Member] | ||||
Operating lease, liability | $ 91,237 | $ 354,263 | ||
Lessee, operating lease, discount rate | 7.00% | 6.00% | ||
McLean,Virginia [Member] | ||||
Operating lease, liability | $ 260,649 | |||
Lessee, operating lease, discount rate | 7.00% |
MINERAL PROPERTY COSTS (Details
MINERAL PROPERTY COSTS (Details Narrative) | Apr. 30, 2022USD ($)aha | Oct. 31, 2021USD ($) |
Reserve Quantities [Line Items] | ||
Mineral properties, net | $ 93,453 | $ 93,453 |
Silverado Property [Member] | ||
Reserve Quantities [Line Items] | ||
Area of land | ha | 120 | |
Ownership percentage | 100.00% | |
Carrying value of property | $ 1 | |
TamiMosi Property [Member] | ||
Reserve Quantities [Line Items] | ||
Ownership percentage | 100.00% | |
Royalty percentage | 2.00% | |
Mineral properties, net | $ 93,452 | |
TamiMosi Property [Member] | White Pine County [Member] | ||
Reserve Quantities [Line Items] | ||
Area of land | a | 1,637 | |
TamiMosi Property [Member] | Moor Mining District [Member] | ||
Reserve Quantities [Line Items] | ||
Area of land | a | 10 |
SCHEDULE OF DEPOSITS HELD BY RE
SCHEDULE OF DEPOSITS HELD BY RELATED PARTY (Details) - USD ($) | 6 Months Ended | 12 Months Ended | |
Apr. 30, 2022 | Oct. 31, 2021 | ||
Related Party Transaction [Line Items] | |||
Balance, October 31, 2021 | $ 486,462 | ||
Advances | 1,556,048 | 3,280,824 | |
Costs and expenses | (1,670,701) | (2,794,362) | |
Foreign exchange effect | 16,948 | ||
Balance, April 30, 2022 | 388,757 | 486,462 | |
Related Party A [Member] | |||
Related Party Transaction [Line Items] | |||
Balance, October 31, 2021 | [1] | 291,481 | |
Advances | [1] | 330,930 | 987,912 |
Costs and expenses | [1] | (249,872) | (696,431) |
Foreign exchange effect | [1] | 16,218 | |
Balance, April 30, 2022 | [1] | 388,757 | 291,481 |
Related Party B [Member] | |||
Related Party Transaction [Line Items] | |||
Balance, October 31, 2021 | [2] | 194,981 | |
Advances | [2] | 1,225,118 | 2,292,912 |
Costs and expenses | [2] | (1,420,829) | (2,097,931) |
Foreign exchange effect | [2] | 730 | |
Balance, April 30, 2022 | [2] | $ 194,981 | |
[1] | Related Party A is a company controlled by a director and officer. | ||
[2] | Related Party B is a company controlled by an officer. |
SCHEDULE OF DUE TO RELATED PART
SCHEDULE OF DUE TO RELATED PARTIES (Details) - USD ($) | Apr. 30, 2022 | Oct. 31, 2021 |
Related Party Transactions [Abstract] | ||
Wages payable to directors and officers | $ 357,500 | $ 357,500 |
Benefits payable to directors and officers | 730,810 | 539,209 |
Fees and expenses payable to directors and officers | 164,970 | 127,878 |
Interest due to a shareholder | 2,230 | |
Total | $ 1,253,280 | $ 1,026,817 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) | Nov. 03, 2021USD ($)shares | Sep. 12, 2018 | Aug. 28, 2018USD ($) | Jun. 30, 2021USD ($) | Jun. 30, 2021CAD ($) | Apr. 30, 2022USD ($) | Apr. 30, 2022CAD ($) | Apr. 30, 2021USD ($) | Nov. 03, 2021CAD ($)$ / shares | Oct. 31, 2021USD ($) |
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||||||
Due to related parties | $ 1,253,280 | $ 1,026,817 | ||||||||
Stock based compensation | 3,100,000 | |||||||||
Number of common stock issued | 546,697 | $ 2,024,442 | ||||||||
Directors and Officers [Member] | ||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||||||
Salaries management and consulting fees | 1,626,279 | |||||||||
Directors and Officers [Member] | Sublease Agreement [Member] | ||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||||||
Lease description | lease term from April 1, 2021 to March 31, 2023 | lease term from April 1, 2021 to March 31, 2023 | ||||||||
Payments for rent | $ 7,656 | $ 9,794 | ||||||||
Officer [Member] | ||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||||||
Stock based compensation | 160,700 | |||||||||
Management [Member] | ||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||||||
Consulting fees | 27,630 | $ 35,000 | ||||||||
Executive Officer [Member] | ||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||||||
Consulting fees | $ 30,000 | |||||||||
Director and Officer [Member] | Related Party Agreement [Member] | ||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||||||
Equity method investment, ownership percentage | 5.00% | |||||||||
Number of common stock issued | $ 5,000,000 | |||||||||
Number of common stock issued, shares | shares | 9,163,425 | |||||||||
Share price | $ / shares | $ 0.65 | |||||||||
Fair value of share issue | $ 4,796,832 | $ 5,956,226 |
CONTINGENT LIABILITIES AND CO_2
CONTINGENT LIABILITIES AND COMMITMENTS (Details Narrative) $ / shares in Units, shares in Millions | Mar. 04, 2022USD ($) | Feb. 08, 2021USD ($)shares | Feb. 08, 2021CAD ($)shares | Dec. 31, 2020USD ($) | Dec. 31, 2020CAD ($) | Sep. 29, 2020USD ($) | Sep. 30, 2021USD ($) | Jun. 30, 2021USD ($) | Jun. 30, 2021CAD ($) | Apr. 30, 2022USD ($) | Apr. 30, 2022CAD ($) | Apr. 30, 2021USD ($)shares | Oct. 31, 2020USD ($) | Oct. 31, 2020CAD ($) | Apr. 22, 2022CAD ($) | Nov. 03, 2021$ / shares | Oct. 31, 2021USD ($) | Apr. 19, 2021USD ($) | Nov. 01, 2016USD ($) | Nov. 01, 2016CAD ($)$ / shares |
Loss Contingencies [Line Items] | ||||||||||||||||||||
Loss Contingency, Damages Sought, Value | $ 3,900,000 | $ 4,900,000 | $ 3,400,000 | $ 4,200,000 | ||||||||||||||||
Debt instrument, face amount | $ 100,000 | |||||||||||||||||||
Number of shares issued price per share | $ / shares | $ 0.65 | |||||||||||||||||||
Cash | $ 4,000,000 | |||||||||||||||||||
Payments for (Proceeds from) Tenant Allowance | 41,010 | |||||||||||||||||||
Lodestar Management Group LLC [Member] | ||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||
Debt instrument, face amount | 32,716 | $ 53,491 | ||||||||||||||||||
Commitment of cash or arrangments amount | $ 1,800 | $ 2,500 | ||||||||||||||||||
Number of shares issued price per share | $ / shares | $ 0.05 | |||||||||||||||||||
Issuance of share based minimum requirement | 1,800 | $ 2,500 | ||||||||||||||||||
Cash | $ 30,624 | |||||||||||||||||||
Number of shares issued | shares | ||||||||||||||||||||
Lampert Agreement [Member] | ||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||
Debt instrument, face amount | $ 367,227 | |||||||||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 9.00% | |||||||||||||||||||
Lease Agreement [Member] | ||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||
Loss Contingency, Damages Sought, Value | $ 120,000 | |||||||||||||||||||
Lessee, Operating Lease, Description | lease term from September 14, 2021 to February 28, 2025 | lease term from October 1, 2020 to September 30, 2023 | lease term from October 1, 2020 to September 30, 2023 | |||||||||||||||||
Payments for Rent | $ 9,113 | $ 16,194 | $ 20,715 | |||||||||||||||||
Sublease Agreement [Member] | Directors and Officers [Member] | ||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||
Lessee, Operating Lease, Description | lease term from April 1, 2021 to March 31, 2023 | lease term from April 1, 2021 to March 31, 2023 | ||||||||||||||||||
Payments for Rent | $ 7,656 | $ 9,794 | ||||||||||||||||||
Maximum [Member] | ||||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||||
Loss Contingency, Damages Sought, Value | $ 2,500,000 | |||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 33 | 33 |
PROMISSORY NOTE (Details Narrat
PROMISSORY NOTE (Details Narrative) | 6 Months Ended | 12 Months Ended | |||||
Apr. 30, 2022USD ($) | Apr. 30, 2021USD ($) | Oct. 31, 2021USD ($) | Oct. 31, 2020USD ($) | Oct. 31, 2020CAD ($) | Oct. 31, 2019USD ($) | Oct. 31, 2019CAD ($) | |
Short-Term Debt [Line Items] | |||||||
Repayments of debt | $ 64,993 | ||||||
Promissory Note [Member] | |||||||
Short-Term Debt [Line Items] | |||||||
Related party loan | $ 44,588 | $ 60,000 | $ 112,895 | $ 150,000 | |||
Percentage of unsecured loan interest | 18.00% | 18.00% | |||||
Additional increase in promissory note loan | $ 157,483 | $ 210,000 | |||||
Maturity date | Sep. 24, 2021 | Sep. 24, 2021 | |||||
Interest and debt expense | $ 1,639 | $ 16,655 | |||||
Repayments of debt | $ 65,761 | $ 101,066 |
PROVISION FOR FLOW THROUGH SH_2
PROVISION FOR FLOW THROUGH SHARE ISSUANCES (Details Narrative) - USD ($) | Apr. 30, 2022 | Oct. 31, 2021 |
Provision For Flow Through Share Issuances | ||
Provision for tax and related obligations | $ 225,833 | $ 233,285 |
SCHEDULE OF DERIVATIVE INSTRUME
SCHEDULE OF DERIVATIVE INSTRUMENTS (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2022 | Apr. 30, 2021 | Oct. 31, 2021 | |
Short-Term Debt [Line Items] | |||||
Accretion and interest expense | $ 326,868 | $ 17,760 | $ 649,148 | $ 36,334 | |
Foreign currency translation | 49,183 | (114,645) | 213,963 | (191,049) | |
Fair value adjustment | 4,858,644 | $ 31,190 | (6,701,147) | 16,656 | |
Amortization | 600,771 | ||||
Debt Host Liability [Member] | |||||
Short-Term Debt [Line Items] | |||||
Balance, beginning | 107 | 96,318 | $ 96,318 | ||
Value of debt host liability recognized | 1 | ||||
Accretion and interest expense | 50,819 | 23,693 | |||
Conversion | (628,031) | (125,560) | |||
Foreign currency translation | (82) | 5,655 | |||
Effects of functional currency change | 1,500,000 | ||||
Inception | 2,000,000 | ||||
Balance, ending | 2,922,813 | 2,922,813 | 107 | ||
Debt Host Liability [Member] | July 2020 Convertible Debenture [Member] | |||||
Short-Term Debt [Line Items] | |||||
Balance, beginning | 96,318 | 96,318 | |||
Value of debt host liability recognized | |||||
Accretion and interest expense | 23,587 | ||||
Conversion | (125,560) | ||||
Foreign currency translation | 5,655 | ||||
Effects of functional currency change | |||||
Inception | |||||
Balance, ending | |||||
Debt Host Liability [Member] | July 2021 Convertible Debenture [Member] | |||||
Short-Term Debt [Line Items] | |||||
Balance, beginning | 63 | ||||
Value of debt host liability recognized | |||||
Accretion and interest expense | 28,050 | 63 | |||
Conversion | (28,031) | ||||
Foreign currency translation | (82) | ||||
Effects of functional currency change | |||||
Inception | |||||
Balance, ending | 63 | ||||
Debt Host Liability [Member] | April 2022 Convertible debenture [Member] | |||||
Short-Term Debt [Line Items] | |||||
Balance, beginning | |||||
Value of debt host liability recognized | |||||
Accretion and interest expense | 17,159 | ||||
Conversion | |||||
Foreign currency translation | |||||
Effects of functional currency change | |||||
Inception | 2,000,000 | ||||
Balance, ending | 2,017,159 | 2,017,159 | |||
Debt Host Liability [Member] | June 2021 Convertible Debenture [Member] | |||||
Short-Term Debt [Line Items] | |||||
Balance, beginning | 44 | ||||
Value of debt host liability recognized | 1 | ||||
Accretion and interest expense | 5,610 | 43 | |||
Conversion | (600,000) | ||||
Foreign currency translation | |||||
Effects of functional currency change | 1,500,000 | ||||
Inception | |||||
Balance, ending | 905,654 | 905,654 | 44 | ||
Embedded Derivative Liability [Member] | |||||
Short-Term Debt [Line Items] | |||||
Balance, beginning | 7,449,700 | 20,123 | 20,123 | ||
Conversion | (158,169) | (5,247) | |||
Foreign currency translation | (3,478) | 86,954 | |||
Effects of functional currency change | (7,028,606) | ||||
Balance, ending | 7,449,700 | ||||
Fair value of embedded derivative liability recognized | 1,646,600 | ||||
Fair value adjustment | (259,447) | 5,701,270 | |||
Embedded Derivative Liability [Member] | July 2020 Convertible Debenture [Member] | |||||
Short-Term Debt [Line Items] | |||||
Balance, beginning | 20,123 | 20,123 | |||
Conversion | (5,247) | ||||
Foreign currency translation | 1,182 | ||||
Effects of functional currency change | |||||
Balance, ending | |||||
Fair value of embedded derivative liability recognized | |||||
Fair value adjustment | (16,058) | ||||
Embedded Derivative Liability [Member] | July 2021 Convertible Debenture [Member] | |||||
Short-Term Debt [Line Items] | |||||
Balance, beginning | |||||
Conversion | (158,169) | ||||
Foreign currency translation | (3,478) | ||||
Effects of functional currency change | 421,094 | ||||
Balance, ending | |||||
Fair value of embedded derivative liability recognized | |||||
Fair value adjustment | (259,447) | ||||
Embedded Derivative Liability [Member] | April 2022 Convertible debenture [Member] | |||||
Short-Term Debt [Line Items] | |||||
Balance, beginning | |||||
Conversion | |||||
Foreign currency translation | |||||
Effects of functional currency change | |||||
Balance, ending | |||||
Fair value of embedded derivative liability recognized | |||||
Fair value adjustment | |||||
Embedded Derivative Liability [Member] | June 2021 Convertible Debenture [Member] | |||||
Short-Term Debt [Line Items] | |||||
Balance, beginning | 7,449,700 | ||||
Conversion | |||||
Foreign currency translation | 85,772 | ||||
Effects of functional currency change | (7,449,700) | ||||
Balance, ending | 7,449,700 | ||||
Fair value of embedded derivative liability recognized | 1,646,600 | ||||
Fair value adjustment | 5,717,328 | ||||
Debt Discount [Member] | |||||
Short-Term Debt [Line Items] | |||||
Effects of functional currency change | (1,500,000) | ||||
Balance, beginning | |||||
Inception | (240,000) | ||||
Amortization | 600,771 | ||||
Balance, ending | (1,139,229) | (1,139,229) | |||
Debt Discount [Member] | July 2020 Convertible Debenture [Member] | |||||
Short-Term Debt [Line Items] | |||||
Effects of functional currency change | |||||
Balance, beginning | |||||
Inception | |||||
Amortization | |||||
Balance, ending | |||||
Debt Discount [Member] | July 2021 Convertible Debenture [Member] | |||||
Short-Term Debt [Line Items] | |||||
Effects of functional currency change | |||||
Balance, beginning | |||||
Inception | |||||
Amortization | |||||
Balance, ending | |||||
Debt Discount [Member] | April 2022 Convertible debenture [Member] | |||||
Short-Term Debt [Line Items] | |||||
Effects of functional currency change | |||||
Balance, beginning | |||||
Inception | (240,000) | ||||
Amortization | 2 | ||||
Balance, ending | (239,998) | (239,998) | |||
Debt Discount [Member] | June 2021 Convertible Debenture [Member] | |||||
Short-Term Debt [Line Items] | |||||
Effects of functional currency change | (1,500,000) | ||||
Balance, beginning | |||||
Inception | |||||
Amortization | 600,769 | ||||
Balance, ending | (899,231) | (899,231) | |||
Combined Value of Convertible Debenture [Member] | |||||
Short-Term Debt [Line Items] | |||||
Balance, beginning | 7,449,807 | 116,441 | 116,441 | ||
Balance, ending | 1,783,584 | 1,783,584 | 7,449,807 | ||
Combined Value of Convertible Debenture [Member] | July 2020 Convertible Debenture [Member] | |||||
Short-Term Debt [Line Items] | |||||
Balance, beginning | 116,441 | 116,441 | |||
Balance, ending | |||||
Combined Value of Convertible Debenture [Member] | July 2021 Convertible Debenture [Member] | |||||
Short-Term Debt [Line Items] | |||||
Balance, beginning | 63 | ||||
Balance, ending | 63 | ||||
Combined Value of Convertible Debenture [Member] | April 2022 Convertible debenture [Member] | |||||
Short-Term Debt [Line Items] | |||||
Balance, beginning | 7,449,744 | ||||
Balance, ending | 1,777,161 | 1,777,161 | 7,449,744 | ||
Combined Value of Convertible Debenture [Member] | June 2021 Convertible Debenture [Member] | |||||
Short-Term Debt [Line Items] | |||||
Balance, beginning | 7,449,744 | ||||
Balance, ending | $ 6,423 | $ 6,423 | $ 7,449,744 |
SCHEDULE OF OPTION PRICING MODE
SCHEDULE OF OPTION PRICING MODEL (Details) | 6 Months Ended | ||
Apr. 30, 2022$ / shares | Apr. 30, 2021 | Apr. 30, 2022$ / shares | |
Short-Term Debt [Line Items] | |||
Expected life in years | 5 years | ||
Expected dividend rate | |||
April 22, 2022 [Member] | |||
Short-Term Debt [Line Items] | |||
Risk free rate of interest | 2.65% | ||
Expected life in years | 2 months 23 days | ||
Conversion exercise price | $ 0.12 | ||
Underlying share price of the Company | 0.36 | ||
Expected volatility | 99.90% | ||
Expected dividend rate | |||
November 1, 2021 [Member] | |||
Short-Term Debt [Line Items] | |||
Risk free rate of interest | 1.07% | ||
Expected life in years | 8 months 12 days | ||
Conversion exercise price | 0.12 | ||
Underlying share price of the Company | 0.75 | ||
Expected volatility | 124.34% | ||
Expected dividend rate | |||
October 31, 2021 [Member] | |||
Short-Term Debt [Line Items] | |||
Risk free rate of interest | 1.08% | ||
Expected life in years | 1 year 1 month 9 days | ||
Conversion exercise price | $ 0.10 | ||
Underlying share price of the Company | $ 0.59 | ||
Expected volatility | 107.62% | ||
Expected dividend rate | |||
June 15, 2021 [Member] | |||
Short-Term Debt [Line Items] | |||
Risk free rate of interest | 0.31% | ||
Expected life in years | 1 year 6 months | ||
Conversion exercise price | $ 0.10 | ||
Underlying share price of the Company | $ 0.19 | ||
Expected volatility | 87.17% | ||
Expected dividend rate | |||
July 27, 2021 [Member] | |||
Short-Term Debt [Line Items] | |||
Risk free rate of interest | 0.26% | ||
July 27, 2020 [Member] | |||
Short-Term Debt [Line Items] | |||
Expected life in years | 8 months 26 days | ||
Conversion exercise price | 0.15 | ||
Underlying share price of the Company | $ 0.13 | ||
Expected volatility | 82.54% | ||
Expected dividend rate |
CONVERTIBLE DEBENTURE AND DER_3
CONVERTIBLE DEBENTURE AND DERIVATIVE LIABILITY (Details Narrative) | Apr. 22, 2022CAD ($)$ / sharesshares | Apr. 14, 2022USD ($)$ / sharesshares | Jun. 15, 2021USD ($)shares | May 18, 2021USD ($)shares | Apr. 30, 2022USD ($)$ / sharesshares | Apr. 30, 2022CAD ($)shares | Apr. 30, 2021USD ($)shares | Oct. 31, 2021USD ($)shares | Apr. 30, 2022CAD ($)shares | Nov. 03, 2021$ / sharesshares | Nov. 02, 2021USD ($) | Jul. 15, 2021USD ($) | Jul. 15, 2021CAD ($)$ / shares | Jul. 27, 2020USD ($) | Jul. 27, 2020CAD ($)$ / shares |
Short-Term Debt [Line Items] | |||||||||||||||
Debt instrument, face amount | $ 100,000 | ||||||||||||||
Debt host liability share, face value | $ / shares | $ 0.65 | ||||||||||||||
Common stock, shares issued | shares | 933,333 | 434,866,801 | 392,943,398 | 434,866,801 | 9,163,425 | ||||||||||
Common stock, value issued | $ 39,096,950 | $ 29,842,167 | |||||||||||||
Warrants exercisable price | $ / shares | $ 0.20 | ||||||||||||||
Contractual interest | 70,521 | ||||||||||||||
Penalty cash | 4,000,000 | ||||||||||||||
Adjustments to Additional Paid in Capital, Convertible Debt with Conversion Feature | 240,000 | ||||||||||||||
Amortization of debt discount premium | 600,771 | ||||||||||||||
Warrants [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Loss on recognition of debt liability | 7,060,790 | ||||||||||||||
Derivative Liability | 2,465,603 | $ 26,956,177 | |||||||||||||
Exercise of common share purchase warrants | 4,482,962 | ||||||||||||||
Broker warrants [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Derivative Liability | $ 2,658 | $ 76,811 | |||||||||||||
Common Stock [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Number of shares issued | shares | 1,375,499 | 1,375,499 | 25,724,955 | ||||||||||||
Adjustments to Additional Paid in Capital, Convertible Debt with Conversion Feature | |||||||||||||||
July 2020 Convertible Debenture [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Debt instrument, face amount | $ 112,124 | $ 150,000 | |||||||||||||
Debt instrument, interest rate percentage | 12.00% | 12.00% | |||||||||||||
Debt host liability share, face value | $ / shares | $ 0.15 | ||||||||||||||
Common stock, shares issued | shares | 1,360,959 | ||||||||||||||
Conversion of stock, shares issued | shares | 263,973 | ||||||||||||||
Common stock, value issued | $ 26,286 | ||||||||||||||
Effective interest rate percentage | 37.00% | ||||||||||||||
Number of shares issued | shares | 1,360,959 | ||||||||||||||
Debt instrument, fair value | 87,083 | ||||||||||||||
Embedded derivative liability | 25,041 | ||||||||||||||
July 2021 Convertible Debenture [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Debt instrument, face amount | $ 79,542 | $ 100,000 | |||||||||||||
Debt instrument, interest rate percentage | 12.00% | 12.00% | |||||||||||||
Conversion of stock, shares issued | shares | 933,333 | ||||||||||||||
Effective interest rate percentage | 594.00% | ||||||||||||||
Debt instrument, conversion price | $ / shares | $ 0.12 | ||||||||||||||
Warrants exercisable price | $ / shares | $ 0.20 | ||||||||||||||
Convertible debenture face value | 79,542 | $ 100,000 | |||||||||||||
Embedded Derivative, Fair Value of Embedded Derivative Liability | 421,095 | $ 529,400 | |||||||||||||
Adjustments to Additional Paid in Capital, Convertible Debt with Conversion Feature | $ 341,553 | $ 429,400 | |||||||||||||
June 2021 Convertible Debenture [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Debt instrument, face amount | $ 1,500,000 | ||||||||||||||
Debt instrument, interest rate percentage | 12.00% | ||||||||||||||
Debt host liability share, face value | $ / shares | $ 1 | ||||||||||||||
Debt instrument maturity date | Dec. 10, 2022 | ||||||||||||||
Conversion of convertiable debenture | shares | 15,000,000 | ||||||||||||||
Debt conversion, description | (i) one share of the Company’ common stock, (ii) one-half of one Class A common stock purchase warrant, with each whole warrant being exercisable at a price of $0.13 until June 10, 2026, and (iii) one-half of one Class B common stock purchase warrant, with each whole warrant being exercisable at a price of $0.19 until June 10, 2026 (collectively, the “Class A and B Warrants”). In addition, the conversion price for accrued interest is the greater of (i) $0.10 and (ii) the minimum conversion price permitted by the TSX-V at the time of conversion | (i) one share of the Company’ common stock, (ii) one-half of one Class A common stock purchase warrant, with each whole warrant being exercisable at a price of $0.13 until June 10, 2026, and (iii) one-half of one Class B common stock purchase warrant, with each whole warrant being exercisable at a price of $0.19 until June 10, 2026 (collectively, the “Class A and B Warrants”). In addition, the conversion price for accrued interest is the greater of (i) $0.10 and (ii) the minimum conversion price permitted by the TSX-V at the time of conversion | |||||||||||||
Number of shares issued | shares | 6,000,000 | 6,000,000 | |||||||||||||
Contractual interest | $ 140,942 | ||||||||||||||
Debt instrument interest rate description | effective interest rate of 1,240 | effective interest rate of 1,240 | |||||||||||||
Debt instrument, fair value | $ 1,500,000 | ||||||||||||||
Embedded derivative liability | 1,646,600 | ||||||||||||||
Loss on recognition of debt liability | 146,601 | ||||||||||||||
Convertible debt combined value | 7,449,744 | ||||||||||||||
Amortization of debt discount premium | 600,769 | ||||||||||||||
Debt discount carry value | $ 899,231 | ||||||||||||||
June 2021 Convertible Debenture [Member] | Common Class A [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Warrants exercisable price | $ / shares | $ 0.13 | ||||||||||||||
Number of warrants exercisable | shares | 3,000,000 | 3,000,000 | |||||||||||||
June 2021 Convertible Debenture [Member] | Common Class B [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Warrants exercisable price | $ / shares | $ 0.19 | ||||||||||||||
Number of warrants exercisable | shares | 3,000,000 | 3,000,000 | |||||||||||||
June 2021 Convertible Debenture [Member] | Common Stock [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Number of shares issued | shares | 6,000,000 | 6,000,000 | |||||||||||||
April 2022 Convertible debenture [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Debt instrument, face amount | $ 2,000,000 | ||||||||||||||
Debt instrument, interest rate percentage | 15.00% | ||||||||||||||
Effective interest rate percentage | 22.00% | 22.00% | |||||||||||||
Debt instrument maturity date | Oct. 14, 2023 | ||||||||||||||
Contractual interest | $ 13,151 | ||||||||||||||
Penalty cash | $ 20,000 | ||||||||||||||
Convertible debenture face value | 240,000 | ||||||||||||||
Debt discount carry value | 239,998 | ||||||||||||||
Interest expense | $ 2 | ||||||||||||||
April 2022 Convertible debenture [Member] | Common Stock [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Warrants exercisable price | $ / shares | $ 0.40 | ||||||||||||||
Number of shares issued | shares | 6,666,667 |
SUMMARY OF CHANGES IN COMMON SH
SUMMARY OF CHANGES IN COMMON SHARE PURCHASE WARRANTS (Details) | 6 Months Ended | |||||
Apr. 30, 2022$ / sharesshares | Apr. 30, 2022$ / shares$ / sharesshares | Apr. 30, 2021$ / sharesshares | Apr. 30, 2022$ / shares | Apr. 22, 2022$ / shares | ||
Class of Warrant or Right [Line Items] | ||||||
Exercise price | $ / shares | $ 0.20 | |||||
Purchase Warrant One [Member] | ||||||
Class of Warrant or Right [Line Items] | ||||||
Beginning balance | 59,548,982 | 59,548,982 | ||||
Granted | 933,333 | 933,333 | ||||
Exercised | (23,701,146) | (23,701,146) | ||||
Expired/Cancelled | (5,660,296) | (5,660,296) | ||||
Ending balance | 31,120,873 | 31,120,873 | ||||
Weighted average exercise price, beginning | $ / shares | $ 0.22 | |||||
Weighted average exercise price, granted | $ / shares | 0.20 | |||||
Weighted average exercise price, exercised | $ / shares | 0.18 | |||||
Weighted average exercise price, expired/cancelled | $ / shares | 0.16 | |||||
Weighted average exercise price, ending | $ / shares | $ 0.26 | |||||
Purchase Warrant Two [Member] | ||||||
Class of Warrant or Right [Line Items] | ||||||
Beginning balance | ||||||
Granted | 7,375,499 | 7,375,499 | ||||
Exercised | ||||||
Expired/Cancelled | ||||||
Ending balance | 4,375,499 | 4,375,499 | ||||
Weighted average exercise price, beginning | $ / shares | ||||||
Weighted average exercise price, granted | $ / shares | 0.27 | |||||
Weighted average exercise price, exercised | $ / shares | ||||||
Weighted average exercise price, expired/cancelled | $ / shares | ||||||
Weighted average exercise price, ending | $ / shares | $ 0.27 | |||||
Purchase Warrant [Member] | ||||||
Class of Warrant or Right [Line Items] | ||||||
Beginning balance | 59,548,982 | 59,548,982 | 10,109,642 | |||
Granted | 8,308,832 | 8,308,832 | 25,724,955 | |||
Exercised | (23,701,146) | (23,701,146) | (400,000) | |||
Expired/Cancelled | (5,660,296) | (5,660,296) | ||||
Ending balance | 38,496,372 | 38,496,372 | 35,434,597 | |||
Weighted average exercise price, beginning | $ / shares | $ 0.11 | |||||
Weighted average exercise price, granted | $ / shares | 0.19 | |||||
Weighted average exercise price, exercised | $ / shares | 0.05 | |||||
Weighted average exercise price, expired/cancelled | $ / shares | ||||||
Weighted average exercise price, ending | $ / shares | $ 0.17 | |||||
November 22, 2021 [Member] | ||||||
Class of Warrant or Right [Line Items] | ||||||
Expiry Date | Nov. 22, 2021 | Nov. 22, 2021 | Nov. 22, 2021 | |||
Beginning balance | 4,160,021 | 4,160,021 | ||||
Granted | 5,599,171 | |||||
Exercised | (4,080,573) | (4,080,573) | ||||
Expired/Cancelled | (79,448) | (79,448) | ||||
Ending balance | 5,599,171 | |||||
Exercise price | $ / shares | $ 0.19 | [1] | $ 0.19 | |||
Weighted Average Life (Years) | 6 months 21 days | |||||
January 17, 2022 [Member] | ||||||
Class of Warrant or Right [Line Items] | ||||||
Expiry Date | Jan. 17, 2022 | Jan. 17, 2022 | Jan. 17, 2022 | |||
Beginning balance | 7,267,914 | 7,267,914 | ||||
Granted | 7,337,914 | |||||
Exercised | (5,959,396) | (5,959,396) | ||||
Expired/Cancelled | (1,308,518) | (1,308,518) | ||||
Ending balance | 7,337,914 | |||||
Exercise price | $ / shares | $ 0.19 | [1] | 0.19 | |||
Weighted Average Life (Years) | 8 months 15 days | |||||
January 31, 2022 [Member] | ||||||
Class of Warrant or Right [Line Items] | ||||||
Expiry Date | Jan. 31, 2022 | Jan. 31, 2022 | Jan. 31, 2022 | |||
Beginning balance | 5,382,303 | 5,382,303 | ||||
Granted | 5,382,303 | |||||
Exercised | (4,341,906) | (4,341,906) | ||||
Expired/Cancelled | (1,040,397) | (1,040,397) | ||||
Ending balance | 5,382,303 | |||||
Exercise price | $ / shares | $ 0.19 | [1] | 0.19 | |||
Weighted Average Life (Years) | 9 months | |||||
February 21, 2022 [Member] | ||||||
Class of Warrant or Right [Line Items] | ||||||
Expiry Date | Feb. 21, 2022 | Feb. 21, 2022 | Feb. 21, 2022 | |||
Beginning balance | 1,505,200 | 1,505,200 | 1,505,200 | |||
Granted | ||||||
Exercised | (200,000) | (200,000) | ||||
Expired/Cancelled | (1,305,200) | (1,305,200) | ||||
Ending balance | 1,505,200 | |||||
Exercise price | $ / shares | $ 0.05 | [1] | 0.05 | |||
Weighted Average Life (Years) | 9 months 21 days | |||||
March 24, 2022 [Member] | ||||||
Class of Warrant or Right [Line Items] | ||||||
Expiry Date | Mar. 24, 2022 | Mar. 24, 2022 | Mar. 24, 2022 | |||
Beginning balance | 6,341,872 | 6,341,872 | ||||
Granted | 6,554,172 | |||||
Exercised | (4,515,139) | (4,515,139) | ||||
Expired/Cancelled | (1,826,733) | (1,826,733) | ||||
Ending balance | 6,554,172 | |||||
Exercise price | $ / shares | $ 0.19 | [1] | 0.19 | |||
Weighted Average Life (Years) | 10 months 24 days | |||||
March 27, 2022 [Member] | ||||||
Class of Warrant or Right [Line Items] | ||||||
Expiry Date | Mar. 27, 2022 | Mar. 27, 2022 | Mar. 27, 2022 | |||
Beginning balance | 982,025 | 982,025 | 1,482,025 | |||
Granted | ||||||
Exercised | (882,025) | (882,025) | ||||
Expired/Cancelled | (100,000) | (100,000) | ||||
Ending balance | 1,482,025 | |||||
Exercise price | $ / shares | $ 0.05 | [1] | 0.05 | |||
Weighted Average Life (Years) | 10 months 28 days | |||||
April 27, 2022 [Member] | ||||||
Class of Warrant or Right [Line Items] | ||||||
Expiry Date | Apr. 27, 2022 | Apr. 27, 2022 | Apr. 27, 2022 | |||
Beginning balance | 791,395 | 791,395 | ||||
Granted | 851,395 | |||||
Exercised | (791,395) | (791,395) | ||||
Expired/Cancelled | ||||||
Ending balance | 851,395 | |||||
Exercise price | $ / shares | $ 0.19 | [1] | 0.19 | |||
Weighted Average Life (Years) | 11 months 26 days | |||||
May 9, 2022 [Member] | ||||||
Class of Warrant or Right [Line Items] | ||||||
Expiry Date | May 9, 2022 | May 9, 2022 | May 9, 2022 | |||
Beginning balance | 1,813,725 | 1,813,725 | 2,368,626 | |||
Granted | ||||||
Exercised | (1,000,000) | (1,000,000) | ||||
Expired/Cancelled | ||||||
Ending balance | 813,725 | 813,725 | 2,368,626 | |||
Exercise price | $ / shares | $ 0.05 | [1] | $ 0.05 | |||
Weighted Average Life (Years) | 7 days | 7 days | 1 year 7 days | 7 days | ||
May 30, 2022 [Member] | ||||||
Class of Warrant or Right [Line Items] | ||||||
Expiry Date | May 30, 2022 | May 30, 2022 | ||||
Beginning balance | 5,223,420 | 5,223,420 | ||||
Granted | ||||||
Exercised | (276,675) | (276,675) | ||||
Expired/Cancelled | ||||||
Ending balance | 4,946,745 | 4,946,745 | ||||
Exercise price | $ / shares | $ 0.19 | |||||
Weighted Average Life (Years) | 29 days | 29 days | 29 days | |||
June 17, 2022 [Member] | ||||||
Class of Warrant or Right [Line Items] | ||||||
Expiry Date | Jun. 17, 2022 | Jun. 17, 2022 | ||||
Beginning balance | 17,703,506 | 17,703,506 | ||||
Granted | ||||||
Exercised | (1,393,077) | (1,393,077) | ||||
Expired/Cancelled | ||||||
Ending balance | 16,310,429 | 16,310,429 | ||||
Exercise price | $ / shares | $ 0.19 | |||||
Weighted Average Life (Years) | 1 month 17 days | 1 month 17 days | 1 month 17 days | |||
July 18, 2022 [Member] | ||||||
Class of Warrant or Right [Line Items] | ||||||
Expiry Date | Jul. 18, 2022 | Jul. 18, 2022 | ||||
Beginning balance | 4,350,000 | 4,350,000 | ||||
Granted | ||||||
Exercised | (60,960) | (60,960) | ||||
Expired/Cancelled | ||||||
Ending balance | 4,289,040 | 4,289,040 | ||||
Exercise price | $ / shares | $ 0.30 | |||||
Weighted Average Life (Years) | 2 months 19 days | 2 months 19 days | 2 months 19 days | |||
August 14, 2022 [Member] | ||||||
Class of Warrant or Right [Line Items] | ||||||
Expiry Date | Aug. 14, 2022 | Aug. 14, 2022 | Aug. 14, 2022 | |||
Beginning balance | 200,000 | 200,000 | 1,110,000 | |||
Granted | ||||||
Exercised | (200,000) | (200,000) | (400,000) | |||
Expired/Cancelled | ||||||
Ending balance | 710,000 | |||||
Exercise price | $ / shares | $ 0.05 | [1] | $ 0.05 | |||
Weighted Average Life (Years) | 3 months 14 days | 3 months 14 days | 1 year 3 months 14 days | 3 months 14 days | ||
February 13, 2023 [Member] | ||||||
Class of Warrant or Right [Line Items] | ||||||
Expiry Date | Feb. 13, 2023 | Feb. 13, 2023 | ||||
Beginning balance | 3,827,601 | 3,827,601 | ||||
Granted | ||||||
Exercised | ||||||
Expired/Cancelled | ||||||
Ending balance | 3,827,601 | 3,827,601 | ||||
Exercise price | $ / shares | $ 0.65 | |||||
Weighted Average Life (Years) | 9 months 14 days | 9 months 14 days | 9 months 14 days | |||
April 22, 2024 [Member] | ||||||
Class of Warrant or Right [Line Items] | ||||||
Expiry Date | Apr. 22, 2024 | Apr. 22, 2024 | ||||
Beginning balance | ||||||
Granted | 933,333 | 933,333 | ||||
Exercised | ||||||
Expired/Cancelled | ||||||
Ending balance | 933,333 | 933,333 | ||||
Exercise price | $ / shares | $ 0.20 | |||||
Weighted Average Life (Years) | 1 year 11 months 23 days | 1 year 11 months 23 days | 1 year 11 months 23 days | |||
November 27, 2022 [Member] | ||||||
Class of Warrant or Right [Line Items] | ||||||
Expiry Date | Nov. 27, 2022 | Nov. 27, 2022 | ||||
Beginning balance | ||||||
Granted | 1,375,499 | 1,375,499 | ||||
Exercised | ||||||
Expired/Cancelled | ||||||
Ending balance | 1,375,499 | 1,375,499 | ||||
Exercise price | $ / shares | $ 0.75 | $ 0.75 | ||||
Weighted Average Life (Years) | 6 months 29 days | 6 months 29 days | 6 months 29 days | |||
June 10, 2026 [Member] | ||||||
Class of Warrant or Right [Line Items] | ||||||
Expiry Date | Jun. 10, 2026 | Jun. 10, 2026 | ||||
Beginning balance | ||||||
Granted | 3,000,000 | 3,000,000 | ||||
Exercised | ||||||
Expired/Cancelled | ||||||
Ending balance | 1,500,000 | 1,500,000 | ||||
Exercise price | $ / shares | $ 0.13 | $ 0.13 | ||||
Weighted Average Life (Years) | 4 years 1 month 13 days | 4 years 1 month 13 days | 4 years 1 month 13 days | |||
June 10, 2026 One [Member] | ||||||
Class of Warrant or Right [Line Items] | ||||||
Expiry Date | Jun. 10, 2026 | Jun. 10, 2026 | ||||
Beginning balance | ||||||
Granted | 3,000,000 | 3,000,000 | ||||
Exercised | ||||||
Expired/Cancelled | ||||||
Ending balance | 1,500,000 | 1,500,000 | ||||
Exercise price | $ / shares | $ 0.19 | $ 0.19 | ||||
Weighted Average Life (Years) | 4 years 1 month 13 days | 4 years 1 month 13 days | 4 years 1 month 13 days | |||
August 31, 2021 [Member] | ||||||
Class of Warrant or Right [Line Items] | ||||||
Expiry Date | Aug. 31, 2021 | [1] | ||||
Beginning balance | 3,643,791 | |||||
Granted | ||||||
Exercised | ||||||
Expired/Cancelled | ||||||
Ending balance | 3,643,791 | |||||
Exercise price | $ / shares | $ 0.21 | [1] | ||||
Weighted Average Life (Years) | 4 months 2 days | |||||
[1] | The Company received approval of the TSX-V on January 13, 2021 and amended the expiry date of 3,643,791 extending the expiry date from January 17, 2021 to August 31, 2021 0.30 |
SUMMARY OF CHANGES IN COMMON _2
SUMMARY OF CHANGES IN COMMON SHARE PURCHASE WARRANTS (Details) (Parenthetical) | Jan. 13, 2021$ / sharesshares | Apr. 30, 2022$ / shares | Oct. 31, 2021$ / shares |
Equity [Abstract] | |||
Class of warrant or right outstanding | 3,643,791 | ||
Maturity date, description | extending the expiry date from January 17, 2021 to August 31, 2021 | ||
Common stock par or stated value per share | (per share) | $ 0.30 | $ 0.001 | $ 0.001 |
SCHEDULE OF FAIR VALUE ASSUMPTI
SCHEDULE OF FAIR VALUE ASSUMPTIONS (Details) - $ / shares | 6 Months Ended | |
Apr. 30, 2022 | Apr. 30, 2021 | |
Risk free rate of interest, minimum | 1.34% | 0.20% |
Risk free rate of interest, maximum | 2.59% | 1.07% |
Expected life of options | 5 years | |
Expected annualized volatility, minimum | 134.93% | 130.88% |
Expected annualized volatility, maximum | 136.08% | 140.05% |
Expected dividend rate | ||
Minimum [Member] | ||
Expected life of options | 2 years | |
Exercise price of options | $ 0.40 | $ 0.13 |
Maximum [Member] | ||
Expected life of options | 5 years | |
Exercise price of options | $ 0.58 | $ 0.70 |
SCHEDULE OF STOCK OPTIONS ACTIV
SCHEDULE OF STOCK OPTIONS ACTIVITY (Details) | 6 Months Ended | 12 Months Ended | ||||
Apr. 30, 2022USD ($)shares | Apr. 30, 2022$ / shares | Apr. 30, 2021USD ($)shares | Apr. 30, 2021$ / shares | Oct. 31, 2021USD ($)shares | Oct. 31, 2021$ / shares | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Total outstanding, beginning balance | 61,260,000 | 28,420,000 | 28,420,000 | |||
Total granted | 1,250,000 | 15,650,000 | ||||
Stock issued during period shares stock options exercised | 750,000 | 100,000 | ||||
Total expired, cancelled | (4,250,000) | (17,250,000) | ||||
Total outstanding, ending balance | 57,510,000 | 26,720,000 | 61,260,000 | |||
Total vested | 57,360,000 | 26,720,000 | ||||
Weighted average remaining life, outstanding | 3 years 1 month 24 days | 2 years 9 months 10 days | ||||
Total exercised | (750,000) | (100,000) | ||||
Weighted average exercise price, beginning balance | $ / shares | $ 0.33 | $ 0.09 | $ 0.09 | |||
Weighted average exercise price, granted | $ / shares | 0.44 | 0.13 | ||||
Weighted average exercise price, exercised | $ / shares | 0.05 | 0.05 | ||||
Weighted average exercise price, expired/cancelled | $ / shares | 0.11 | 0.13 | ||||
Weighted average exercise price, ending balance | $ / shares | 0.34 | 0.09 | 0.33 | |||
Weighted average exercise price, vested | $ / shares | 0.33 | 0.09 | ||||
Aggregate intrinsic value, outstanding | $ | $ 19,994,025 | $ 801,922 | $ 801,922 | |||
Aggregate intrinsic value, outstanding | $ | (2,149,050) | (597,721) | (19,994,025) | |||
Aggregate intrinsic value, vested | $ | $ (2,102,148) | $ (597,721) | ||||
Weighted average remaining life, outstanding | 3 years 5 months 15 days | 3 years 2 months 4 days | ||||
Weighted average remaining life, vested | 3 years 1 month 24 days | 2 years 9 months 10 days | ||||
Weighted average exercise price, ending balance | $ / shares | 0.34 | 0.09 | $ 0.33 | |||
Aggregate intrinsic value, outstanding | $ | $ 2,149,050 | $ 597,721 | $ 19,994,025 | |||
Aggregate intrinsic value, vested | $ | $ 2,102,148 | $ 597,721 | ||||
Option One [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Date | Mar. 27, 2022 | Feb. 11, 2021 | ||||
Share Price | $ / shares | 0.05 | 0.05 | ||||
Total outstanding, beginning balance | 1,500,000 | 800,000 | 800,000 | |||
Total granted | ||||||
Stock issued during period shares stock options exercised | (750,000) | |||||
Total expired, cancelled | (750,000) | (800,000) | ||||
Total outstanding, ending balance | 1,500,000 | |||||
Total vested | ||||||
Weighted average remaining life, outstanding | 10 days | |||||
Total exercised | 750,000 | |||||
Option Two [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Date | Dec. 30, 2022 | Aug. 16, 2021 | ||||
Share Price | $ / shares | 0.13 | 0.05 | ||||
Total outstanding, beginning balance | 6,000,000 | 600,000 | 600,000 | |||
Total granted | ||||||
Stock issued during period shares stock options exercised | ||||||
Total expired, cancelled | (150,000) | |||||
Total outstanding, ending balance | 5,850,000 | 600,000 | 6,000,000 | |||
Total vested | 5,850,000 | 600,000 | ||||
Weighted average remaining life, outstanding | 8 months 1 day | 6 months 14 days | ||||
Total exercised | ||||||
Option Three [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Date | Aug. 12, 2023 | Mar. 27, 2022 | ||||
Share Price | $ / shares | 0.05 | 0.05 | ||||
Total outstanding, beginning balance | 2,290,000 | 1,750,000 | 1,750,000 | |||
Total granted | ||||||
Stock issued during period shares stock options exercised | ||||||
Total expired, cancelled | (750,000) | |||||
Total outstanding, ending balance | 1,540,000 | 1,750,000 | 2,290,000 | |||
Total vested | 1,540,000 | 1,750,000 | ||||
Weighted average remaining life, outstanding | 1 year 3 months 10 days | 1 year 1 month 24 days | ||||
Total exercised | ||||||
Option Four [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Date | Dec. 3, 2023 | Aug. 26, 2022 | ||||
Share Price | $ / shares | 0.05 | 0.13 | ||||
Total outstanding, beginning balance | 6,450,000 | 500,000 | 500,000 | |||
Total granted | ||||||
Stock issued during period shares stock options exercised | ||||||
Total expired, cancelled | (1,000,000) | (500,000) | ||||
Total outstanding, ending balance | 5,450,000 | 6,450,000 | ||||
Total vested | 5,450,000 | |||||
Weighted average remaining life, outstanding | 1 year 7 months 2 days | |||||
Total exercised | ||||||
Option Five [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Date | May 22, 2024 | Dec. 30, 2022 | ||||
Share Price | $ / shares | 0.12 | 0.13 | ||||
Total outstanding, beginning balance | 7,900,000 | |||||
Total granted | 6,150,000 | |||||
Stock issued during period shares stock options exercised | ||||||
Total expired, cancelled | (850,000) | (6,150,000) | ||||
Total outstanding, ending balance | 7,050,000 | 7,900,000 | ||||
Total vested | 7,050,000 | |||||
Weighted average remaining life, outstanding | 2 years 21 days | 1 year 10 months 28 days | ||||
Total exercised | ||||||
Option Six [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Date | Nov. 3, 2024 | Apr. 19, 2023 | ||||
Share Price | $ / shares | 0.15 | 0.05 | ||||
Total outstanding, beginning balance | 700,000 | 800,000 | 800,000 | |||
Total granted | ||||||
Stock issued during period shares stock options exercised | ||||||
Total expired, cancelled | ||||||
Total outstanding, ending balance | 700,000 | 800,000 | 700,000 | |||
Total vested | 700,000 | 800,000 | ||||
Weighted average remaining life, outstanding | 2 years 6 months 7 days | 2 years 2 months 15 days | ||||
Total exercised | ||||||
Option Seven [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Date | Nov. 24, 2024 | Aug. 12, 2023 | ||||
Share Price | $ / shares | 0.16 | 0.05 | ||||
Total outstanding, beginning balance | 320,000 | 3,120,000 | 3,120,000 | |||
Total granted | ||||||
Stock issued during period shares stock options exercised | (100,000) | |||||
Total expired, cancelled | (300,000) | |||||
Total outstanding, ending balance | 20,000 | 3,020,000 | 320,000 | |||
Total vested | 20,000 | 3,020,000 | ||||
Weighted average remaining life, outstanding | 2 years 6 months 25 days | 2 years 6 months 10 days | ||||
Total exercised | 100,000 | |||||
Option Eight [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Date | Mar. 26, 2025 | Dec. 3, 2023 | ||||
Share Price | $ / shares | 0.11 | 0.05 | ||||
Total outstanding, beginning balance | 100,000 | 7,000,000 | 7,000,000 | |||
Total granted | ||||||
Stock issued during period shares stock options exercised | ||||||
Total expired, cancelled | ||||||
Total outstanding, ending balance | 100,000 | 7,000,000 | 100,000 | |||
Total vested | 100,000 | 7,000,000 | ||||
Weighted average remaining life, outstanding | 2 years 10 months 28 days | 2 years 10 months 2 days | ||||
Total exercised | ||||||
Option Nine [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Date | Apr. 23, 2025 | May 22, 2024 | ||||
Share Price | $ / shares | 0.12 | 0.12 | ||||
Total outstanding, beginning balance | 3,350,000 | 7,950,000 | 7,950,000 | |||
Total granted | ||||||
Stock issued during period shares stock options exercised | ||||||
Total expired, cancelled | (250,000) | |||||
Total outstanding, ending balance | 3,100,000 | 7,950,000 | 3,350,000 | |||
Total vested | 3,100,000 | 7,950,000 | ||||
Weighted average remaining life, outstanding | 2 years 11 months 23 days | 3 years 3 months 21 days | ||||
Total exercised | ||||||
Option Ten [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Date | Dec. 30, 2025 | Nov. 3, 2024 | ||||
Share Price | $ / shares | 0.13 | 0.15 | ||||
Total outstanding, beginning balance | 9,500,000 | 700,000 | 700,000 | |||
Total granted | ||||||
Stock issued during period shares stock options exercised | ||||||
Total expired, cancelled | ||||||
Total outstanding, ending balance | 9,500,000 | 700,000 | 9,500,000 | |||
Total vested | 9,500,000 | 700,000 | ||||
Weighted average remaining life, outstanding | 3 years 8 months 1 day | 3 years 9 months 3 days | ||||
Total exercised | ||||||
Option Eleven [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Date | Aug. 30, 2026 | Nov. 24, 2024 | ||||
Share Price | $ / shares | 0.70 | 0.16 | ||||
Total outstanding, beginning balance | 21,700,000 | 900,000 | 900,000 | |||
Total granted | ||||||
Stock issued during period shares stock options exercised | ||||||
Total expired, cancelled | (200,000) | |||||
Total outstanding, ending balance | 21,500,000 | 900,000 | 21,700,000 | |||
Total vested | 21,350,000 | 900,000 | ||||
Weighted average remaining life, outstanding | 4 years 4 months 2 days | 3 years 9 months 25 days | ||||
Total exercised | ||||||
Option Twelve [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Date | Oct. 1, 2026 | Mar. 26, 2025 | ||||
Share Price | $ / shares | 0.50 | 0.11 | ||||
Total outstanding, beginning balance | 1,450,000 | 300,000 | 300,000 | |||
Total granted | ||||||
Stock issued during period shares stock options exercised | ||||||
Total expired, cancelled | ||||||
Total outstanding, ending balance | 1,450,000 | 300,000 | 1,450,000 | |||
Total vested | 1,450,000 | 300,000 | ||||
Weighted average remaining life, outstanding | 4 years 5 months 1 day | 4 years 1 month 24 days | ||||
Total exercised | ||||||
Option Thirteen [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Date | Dec. 3, 2026 | Apr. 23, 2025 | ||||
Share Price | $ / shares | 0.58 | 0.12 | ||||
Total outstanding, beginning balance | 4,000,000 | 4,000,000 | ||||
Total granted | 250,000 | |||||
Stock issued during period shares stock options exercised | ||||||
Total expired, cancelled | (300,000) | |||||
Total outstanding, ending balance | 250,000 | 3,700,000 | ||||
Total vested | 250,000 | 3,700,000 | ||||
Weighted average remaining life, outstanding | 4 years 7 months 6 days | 4 years 2 months 23 days | ||||
Total exercised | ||||||
Option Fourteen [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Date | Mar. 7, 2027 | Dec. 30, 2025 | ||||
Share Price | $ / shares | 0.40 | $ 0.13 | ||||
Total outstanding, beginning balance | ||||||
Total granted | 500,000 | 9,500,000 | ||||
Stock issued during period shares stock options exercised | ||||||
Total expired, cancelled | (9,500,000) | |||||
Total outstanding, ending balance | 500,000 | |||||
Total vested | 500,000 | |||||
Weighted average remaining life, outstanding | 4 years 10 months 6 days | 4 years 11 months 1 day | ||||
Total exercised | ||||||
Option Fifteen [Member] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Date | Apr. 8, 2027 | |||||
Share Price | $ / shares | $ 0.40 | |||||
Total outstanding, beginning balance | ||||||
Total granted | 500,000 | |||||
Stock issued during period shares stock options exercised | ||||||
Total expired, cancelled | ||||||
Total outstanding, ending balance | 500,000 | |||||
Total vested | 500,000 | |||||
Weighted average remaining life, outstanding | 4 years 11 months 8 days | |||||
Total exercised |
SCHEDULE OF NONVESTED STOCK OPT
SCHEDULE OF NONVESTED STOCK OPTIONS (Details) - 6 months ended Apr. 30, 2022 | USD ($)$ / sharesshares | $ / shares |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Weighted average grant date fair value per option, granted | $ / shares | ||
Total nonvested, beginning balance | 462,500 | |
Total nonvested, granted | ||
Total nonvested, vested | (312,500) | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested Options Forfeited, Number of Shares | ||
Total nonvested, ending balance | 150,000 | |
Total nonvested, expired, cancelled | ||
Weighted average grant date fair value per option, beginning balance | $ / shares | 0.39 | |
Weighted average grant date fair value per option, vested | $ / shares | 0.30 | |
Weighted average grant date fair value per option, expired, cancelled | $ / shares | ||
Weighted average grant date fair value per option, ending balance | $ / shares | 0.56 | |
Weighted average grant date fair value total, beginning balance | $ | $ 144,131 | |
Weighted average grant date fair value total, granted | $ | ||
Weighted average grant date fair value total, vested | $ | $ 74,063 | |
Weighted average grant date fair value total, expired, cancelled | $ / shares | ||
Weighted average grant date fair value total, ending balance | $ | $ 65,463 | |
Option One [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Share Based Compensation Arrangement By Share Based Payment Award Non vested Expiration Date | Dec. 30, 2022 | |
Weighted average grant date fair value per option, granted | $ / shares | 0.07 | |
Total nonvested, beginning balance | 162,500 | |
Total nonvested, granted | ||
Total nonvested, vested | (162,500) | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested Options Forfeited, Number of Shares | ||
Total nonvested, ending balance | ||
Weighted average life (years) | 1 year 1 month 28 days | |
Total nonvested, expired, cancelled | ||
Option Two [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Share Based Compensation Arrangement By Share Based Payment Award Non vested Expiration Date | Aug. 30, 2026 | |
Weighted average grant date fair value per option, granted | $ / shares | $ 0.56 | |
Total nonvested, beginning balance | 300,000 | |
Total nonvested, granted | ||
Total nonvested, vested | (150,000) | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested Options Forfeited, Number of Shares | ||
Total nonvested, ending balance | 150,000 | |
Weighted average life (years) | 4 years 9 months 29 days | |
Total nonvested, expired, cancelled |
SHARE CAPITAL (Details Narrativ
SHARE CAPITAL (Details Narrative) | Apr. 30, 2022USD ($)$ / sharesshares | Apr. 08, 2022$ / sharesshares | Mar. 10, 2022$ / sharesshares | Mar. 07, 2022$ / sharesshares | Jan. 20, 2022USD ($)$ / sharesshares | Dec. 13, 2021$ / sharesshares | Dec. 03, 2021$ / sharesshares | Nov. 26, 2021USD ($)$ / sharesshares | Nov. 04, 2021$ / sharesshares | Oct. 01, 2021$ / sharesshares | Aug. 30, 2021$ / sharesshares | Aug. 11, 2021USD ($)shares | Aug. 11, 2021CAD ($)$ / sharesshares | Jul. 16, 2021USD ($)shares | Jul. 16, 2021CAD ($)$ / sharesshares | Jun. 17, 2021USD ($)shares | Jun. 17, 2021CAD ($)$ / sharesshares | Jun. 07, 2021USD ($)shares | May 28, 2021USD ($)shares | May 28, 2021CAD ($)$ / sharesshares | May 18, 2021USD ($)shares | May 05, 2021CAD ($)$ / shares | Apr. 27, 2021USD ($)shares | Apr. 27, 2021CAD ($)$ / sharesshares | Mar. 24, 2021USD ($)shares | Mar. 24, 2021CAD ($)$ / sharesshares | Jan. 29, 2021USD ($)shares | Jan. 29, 2021CAD ($)$ / sharesshares | Jan. 15, 2021USD ($)shares | Jan. 15, 2021CAD ($)shares | Dec. 30, 2020$ / sharesshares | Nov. 20, 2020USD ($)shares | Nov. 20, 2020CAD ($)$ / sharesshares | Aug. 08, 2018 | Apr. 27, 2022$ / sharesshares | Jan. 31, 2022CAD ($)$ / sharesshares | Apr. 30, 2022USD ($)$ / sharesshares | Apr. 30, 2022CAD ($)shares | Jan. 31, 2022USD ($) | Jan. 31, 2022CAD ($)$ / sharesshares | Apr. 30, 2021USD ($) | Apr. 30, 2022USD ($)$ / sharesshares | Apr. 30, 2022CAD ($)$ / sharesshares | Apr. 30, 2021USD ($)shares | Apr. 30, 2021$ / shares | Oct. 31, 2021USD ($)$ / sharesshares | Oct. 31, 2021CAD ($)shares | Apr. 30, 2022$ / shares | Apr. 22, 2022CAD ($)$ / sharesshares | Nov. 03, 2021USD ($)shares | Nov. 03, 2021CAD ($)$ / sharesshares | Oct. 31, 2021$ / shares | Jun. 11, 2021shares | Jun. 07, 2021CAD ($)$ / shares | Feb. 08, 2021shares | Jan. 15, 2021$ / shares | Jan. 13, 2021$ / shares | Jul. 27, 2020USD ($) | Jul. 27, 2020CAD ($)$ / shares | Aug. 29, 2018USD ($) |
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common voting shares | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock par value | (per share) | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.30 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued, price per share | $ / shares | $ 0.65 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock shares subscriptions | $ | $ 388,701 | $ 388,701 | $ 388,701 | $ 209,827 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of assets | $ 4,796,832 | $ 5,956,226 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, shares issued | 434,866,801 | 434,866,801 | 434,866,801 | 392,943,398 | 933,333 | 9,163,425 | 9,163,425 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise of warrants price per share | $ / shares | $ 0.20 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of stock options granted | 1,250,000 | 1,250,000 | 15,650,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, value, issued | $ | $ 39,096,950 | $ 39,096,950 | $ 39,096,950 | $ 29,842,167 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 2,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of common stock | $ | 3,851,614 | $ 1,856,336 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ | $ 100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ | $ 12,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share based compensation | $ | $ 302,254 | $ (1,060,085) | 433,829 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock options granted | $ / shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unit placement assigned value | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Antidilutive securities excluded from computation of earnings per share amount | 96,006,372 | 96,006,372 | 120,808,982 | 120,808,982 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2017 Stock Option Plan [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of stock options granted | 15,650,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options exercisable price | $ / shares | $ 0.13 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock option granted terms | Stock options granted are subject to a maximum term of 5 years. All options granted shall vest immediately, except for those options granted to persons performing investor relations activities for the Company | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2017 Stock Option Plan [Member] | Exercisable at Five Years [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of stock options exercisable | 9,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2017 Stock Option Plan [Member] | Exercisable at Two Years [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of stock options exercisable | 6,150,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2021 Equity Incentive Plan [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of stock options granted | 9,092,368 | 500,000 | 500,000 | 250,000 | 1,450,000 | 21,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options exercisable price | $ / shares | $ 0.40 | $ 0.40 | $ 0.58 | $ 0.50 | $ 0.70 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum number of common shares available | 27,312,368 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options exercisable period | 5 years | 5 years | 5 years | 5 years | 5 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A Warrants [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise of warrants price per share | $ / shares | $ 0.13 | $ 0.13 | $ 0.13 | $ 0.13 | $ 0.13 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 500,000 | 500,000 | 500,000 | 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class B Warrants [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments of stock issuance costs | $ | $ 1,361 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise of warrants price per share | $ / shares | $ 0.19 | $ 0.19 | $ 0.19 | $ 0.19 | $ 0.19 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 500,000 | 500,000 | 500,000 | 500,000 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Option [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of stock options granted | 750,000 | 750,000 | 2,630,000 | 2,630,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options exercisable price | $ / shares | $ 0.05 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from stock options erercised | $ 29,715 | $ 37,500 | $ 140,734 | $ 175,800 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from other equity | $ | $ 22,203 | $ 121,932 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock options granted | $ / shares | $ 0.37 | $ 0.09 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equipment [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to private placements [note 13[b]], shares | 1,538,461 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued, price per share | $ / shares | $ 0.24 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of assets | $ 305,832 | $ 369,231 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
July 2020 Convertible Debenture [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to private placements [note 13[b]], shares | 1,360,959 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued, price per share | $ / shares | $ 0.15 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertiable common shares | 263,973 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion of stock value | $ | $ 26,286 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, shares issued | 1,360,959 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, value, issued | $ | $ 26,286 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 112,124 | $ 150,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 2021 Convertible Debentures [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issued during period, shares, conversion of units | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 2,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 33,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum [Member] | 2017 Stock Option Plan [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of authorized grant stock options | 20.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum [Member] | 2021 Equity Incentive Plan [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum number of common shares available | 33,292,368 | 33,292,368 | 33,292,368 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of stock options forfeited | 29,042,368 | 29,042,368 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum [Member] | Director and Officers [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, value, issued | $ | $ 5,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum [Member] | Equity Option [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options exercisable price | $ / shares | $ 0.16 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Minimum [Member] | 2021 Equity Incentive Plan [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum number of common shares available | 5,980,000 | 5,980,000 | 5,980,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of stock options forfeited | 1,730,000 | 1,730,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Minimum [Member] | Equity Option [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options exercisable price | $ / shares | 0.05 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to private placements [note 13[b]], shares | 1,375,499 | 1,375,499 | 25,724,955 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 6,933,333 | 6,933,333 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of common stock | $ 2,899,295 | $ 2,293,946 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants expired unexercised | 15,389,448 | 15,389,448 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, shares issued | 7,014,969 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from stock warrants erercised | $ 887,520 | $ 1,120,130 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock warrants expired unexercised | 525,173 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from other equity | $ | $ 4,291 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants expired unexercised | 2,428,363 | 2,428,363 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise of warrants price per share | $ / shares | 0.21 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise of warrants price per share | $ / shares | $ 0.05 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock One [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued, price per share | $ / shares | $ 0.19 | $ 0.19 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 15,159,448 | 15,159,448 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of common stock | 2,279,136 | $ 2,880,295 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Two [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued, price per share | $ / shares | 0.05 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 200,000 | 200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of common stock | $ 10,000 | $ 7,830 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Three [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued, price per share | $ / shares | $ 0.30 | $ 0.30 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 30,000 | 30,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of common stock | $ 6,981 | $ 9,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Purchase Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to private placements [note 13[b]], shares | 929,005 | 929,005 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued, price per share | $ / shares | 0.19 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock warrants expired unexercised | 3,191,933 | 3,191,933 | 3,191,933 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of common stock | $ 929,005 | $ 1,177,755 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock broker warrants expired unexercised | 40,000 | 40,000 | 40,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Purchase Warrant One [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to private placements [note 13[b]], shares | 2,082,025 | 2,082,025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued, price per share | $ / shares | 0.05 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of common stock | $ 81,354 | $ 104,101 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Purchase Warrant Two [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to private placements [note 13[b]], shares | 30,960 | 30,960 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued, price per share | $ / shares | 0.30 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of common stock | $ 7,357 | $ 9,288 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non Brokered Private Placement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to private placements [note 13[b]], shares | 3,827,601 | 3,827,601 | 4,350,000 | 4,350,000 | 25,724,955 | 25,724,955 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued, price per share | $ / shares | $ 0.55 | $ 0.20 | $ 0.13 | 0.13 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of private placement | $ 1,683,336 | $ 2,105,180 | $ 690,860 | $ 870,000 | $ 2,621,314 | $ 3,344,244 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares, description | Each unit consists of one common share and one common share purchase warrant entitling the holder thereof to acquire a further common share at a price of CA$0.65 for a period of eighteen months from the date of closing | Each unit consists of one common share and one common share purchase warrant entitling the holder thereof to acquire a further common share at a price of CA$0.65 for a period of eighteen months from the date of closing | Each unit consists of one common share and one common share purchase warrant entitling the holder thereof to acquire a further common share at a price of CA$0.30 for a period of one year from the date of closing | Each unit consists of one common share and one common share purchase warrant entitling the holder thereof to acquire a further common share at a price of CA$0.30 for a period of one year from the date of closing | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments of stock issuance costs | $ | $ 124,923 | $ 48,319 | $ 195,614 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non Brokered Private Placement [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of private placement | $ | $ 3,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non Brokered Private Placement [Member] | Share-Based Payment Arrangement, Tranche One [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to private placements [note 13[b]], shares | 5,223,420 | 5,223,420 | 5,599,171 | 5,599,171 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued, price per share | $ / shares | $ 0.13 | $ 0.13 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of private placement | $ 561,844 | $ 679,044 | $ 556,876 | $ 727,892 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non Brokered Private Placement [Member] | Share-Based Payment Arrangement, Tranche Two [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to private placements [note 13[b]], shares | 7,337,914 | 7,337,914 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued, price per share | $ / shares | $ 0.13 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of private placement | $ 749,435 | $ 953,930 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock shares subscriptions | $ | $ 39,996 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non Brokered Private Placement [Member] | Share-Based Payment Arrangement, Tranche Three [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to private placements [note 13[b]], shares | 5,382,303 | 5,382,303 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued, price per share | $ / shares | $ 0.13 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of private placement | $ 547,496 | $ 699,699 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non Brokered Private Placement [Member] | Share Based Compensation Award Tranche Four [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to private placements [note 13[b]], shares | 6,554,172 | 6,554,172 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued, price per share | $ / shares | $ 0.13 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of private placement | $ 678,270 | $ 852,042 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non Brokered Private Placement [Member] | Share Based Compensation Award Tranche Five and Final [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to private placements [note 13[b]], shares | 851,395 | 851,395 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued, price per share | $ / shares | $ 0.13 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of private placement | $ 89,237 | $ 110,681 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non Brokered Private Placement [Member] | Share Based Compensation Award Tranche Two and Final [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to private placements [note 13[b]], shares | 17,853,506 | 17,853,506 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued, price per share | $ / shares | $ 0.13 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of private placement | $ 1,880,687 | $ 2,320,956 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non Brokered Private Placement One [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to private placements [note 13[b]], shares | 23,076,926 | 23,076,926 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued, price per share | $ / shares | $ 0.13 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of private placement | $ 2,442,531 | $ 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares, description | Each unit issued consists of one common share and one common share purchase warrant entitling the holder thereof to acquire a further common share at a price of CA$0.19 for a period of one year from the date of closing of the respective financing tranche | Each unit issued consists of one common share and one common share purchase warrant entitling the holder thereof to acquire a further common share at a price of CA$0.19 for a period of one year from the date of closing of the respective financing tranche | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments of stock issuance costs | $ | $ 154,336 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non Brokered Private Placement One [Member] | Common Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares, description | Each unit issued consists of one common share and one common share purchase warrant entitling the holder to acquire a further common share at a price of CA$0.19 for a period of one year from the closing date of the respective financing tranche | Each unit issued consists of one common share and one common share purchase warrant entitling the holder to acquire a further common share at a price of CA$0.19 for a period of one year from the closing date of the respective financing tranche | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Private Placement [Member] | Common Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to private placements [note 13[b]], shares | 1,375,499 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued, price per share | $ / shares | $ 0.55 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of private placement | $ | $ 756,524 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments of stock issuance costs | $ | $ 26,656 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share Price | $ / shares | $ 0.75 |
SCHEDULE OF CLASSIFICATION OF F
SCHEDULE OF CLASSIFICATION OF FINANCIAL INSTRUMENTS (Details) - USD ($) | Apr. 30, 2022 | Oct. 31, 2021 |
Fair Value Disclosures [Abstract] | ||
Cash | $ 774,409 | |
Other receivables | 50,765 | |
Subscription receivable | 185,000 | |
Deposits held by related parties | 388,757 | |
Accounts payable and accrued liabilities | 2,715,924 | |
Due to related parties | 1,253,280 | |
Convertible debenture, net | 1,783,584 | |
Warrant liability | $ 2,468,261 |
SCHEDULE OF FOREIGN CURRENCY RI
SCHEDULE OF FOREIGN CURRENCY RISK (Details) | Apr. 30, 2022CAD ($) |
Total | $ (2,003,641) |
Cash [Member] | |
Total | 208,683 |
Other Receivable [Member] | |
Total | 64,930 |
Accounts Payable and Accrued Liabilities [Member] | |
Total | (1,511,845) |
Due To Related Parties [Member] | |
Total | $ (765,409) |
FINANCIAL INSTRUMENTS AND FIN_3
FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT (Details Narrative) - USD ($) | 6 Months Ended | |
Apr. 30, 2022 | Oct. 31, 2021 | |
Fair Value Disclosures [Abstract] | ||
Cash | $ 774,409 | $ 462,360 |
Short term investments | 0 | 0 |
Foreign currency risk rate | ||
Increase decrease in foreign currency transaction amount | 78,312 | |
Working capital deficit | $ 7,172,573 | $ 9,657,316 |
SCHEDULE OF ASSETS INFORMATION
SCHEDULE OF ASSETS INFORMATION (Details) - USD ($) | Apr. 30, 2022 | Oct. 31, 2021 | Oct. 31, 2020 |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
United States – property, plant and equipment | $ 3,977,619 | $ 2,574,704 | $ 79,436 |
United States – mineral property costs | 93,453 | 93,453 | |
Property, plant and equipment net | 4,071,072 | 2,668,157 | |
Other assets | 2,004,431 | 1,845,355 | |
Total Assets | 6,075,503 | 4,513,512 | |
CANADA | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
United States – property, plant and equipment | 3,946,315 | 2,546,383 | |
Other assets | 392,853 | 1,554,827 | |
UNITED STATES | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
United States – property, plant and equipment | 31,304 | 28,321 | |
United States – mineral property costs | 93,453 | 93,453 | |
Other assets | $ 1,611,578 | $ 290,528 |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) | Jun. 08, 2022$ / sharesshares | Jun. 03, 2022USD ($)$ / sharesshares | May 09, 2022USD ($)$ / sharesshares | Aug. 11, 2021USD ($)shares | Aug. 11, 2021CAD ($)$ / sharesshares | Jul. 16, 2021USD ($)shares | Jul. 16, 2021CAD ($)$ / sharesshares | May 28, 2021USD ($)shares | May 28, 2021CAD ($)$ / sharesshares | Nov. 20, 2020USD ($)shares | Nov. 20, 2020CAD ($)$ / sharesshares | Jun. 13, 2022CAD ($)$ / sharesshares | Jan. 31, 2022CAD ($)$ / sharesshares | Jan. 31, 2022USD ($) | Jan. 31, 2022CAD ($)$ / sharesshares | Apr. 30, 2022USD ($)$ / sharesshares | Apr. 30, 2022CAD ($)shares | Apr. 30, 2021USD ($)shares | Apr. 30, 2022$ / sharesshares | Apr. 22, 2022$ / shares | Nov. 03, 2021$ / shares | May 05, 2021$ / shares |
Subsequent Event [Line Items] | ||||||||||||||||||||||
Number of shares issued price per share | $ / shares | $ 0.65 | |||||||||||||||||||||
Proceeds from issuance of common stock | $ | $ 3,851,614 | $ 1,856,336 | ||||||||||||||||||||
Warrants exercisable price | $ / shares | $ 0.20 | |||||||||||||||||||||
June 2021 Convertible Debenture [Member] | ||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||
Number of shares issued price per share | $ / shares | $ 1 | |||||||||||||||||||||
Number of shares issued | 6,000,000 | 6,000,000 | ||||||||||||||||||||
June 2021 Convertible Debenture [Member] | Common Class A [Member] | ||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||
Number of warrants exercisable | 3,000,000 | 3,000,000 | ||||||||||||||||||||
Warrants exercisable price | $ / shares | $ 0.13 | |||||||||||||||||||||
June 2021 Convertible Debenture [Member] | Common Class B [Member] | ||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||
Number of warrants exercisable | 3,000,000 | 3,000,000 | ||||||||||||||||||||
Warrants exercisable price | $ / shares | $ 0.19 | |||||||||||||||||||||
Non Brokered Private Placement [Member] | ||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||
Number of shares issued price per share | $ / shares | $ 0.55 | $ 0.20 | $ 0.13 | $ 0.13 | ||||||||||||||||||
Number of shares issued | 3,827,601 | 3,827,601 | 4,350,000 | 4,350,000 | 25,724,955 | 25,724,955 | ||||||||||||||||
Proceeds from Issuance of Private Placement | $ 1,683,336 | $ 2,105,180 | $ 690,860 | $ 870,000 | $ 2,621,314 | $ 3,344,244 | ||||||||||||||||
Issuance of shares description | Each unit consists of one common share and one common share purchase warrant entitling the holder thereof to acquire a further common share at a price of CA$0.65 for a period of eighteen months from the date of closing | Each unit consists of one common share and one common share purchase warrant entitling the holder thereof to acquire a further common share at a price of CA$0.65 for a period of eighteen months from the date of closing | Each unit consists of one common share and one common share purchase warrant entitling the holder thereof to acquire a further common share at a price of CA$0.30 for a period of one year from the date of closing | Each unit consists of one common share and one common share purchase warrant entitling the holder thereof to acquire a further common share at a price of CA$0.30 for a period of one year from the date of closing | ||||||||||||||||||
Non Brokered Private Placement [Member] | Share-Based Payment Arrangement, Tranche One [Member] | ||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||
Number of shares issued price per share | $ / shares | $ 0.13 | $ 0.13 | ||||||||||||||||||||
Number of shares issued | 5,223,420 | 5,223,420 | 5,599,171 | 5,599,171 | ||||||||||||||||||
Proceeds from Issuance of Private Placement | $ 561,844 | $ 679,044 | $ 556,876 | $ 727,892 | ||||||||||||||||||
Non Brokered Private Placement One [Member] | ||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||
Number of shares issued price per share | $ / shares | 0.13 | |||||||||||||||||||||
Number of shares issued | 23,076,926 | 23,076,926 | ||||||||||||||||||||
Proceeds from Issuance of Private Placement | $ 2,442,531 | $ 3,000,000 | ||||||||||||||||||||
Issuance of shares description | Each unit issued consists of one common share and one common share purchase warrant entitling the holder thereof to acquire a further common share at a price of CA$0.19 for a period of one year from the date of closing of the respective financing tranche | Each unit issued consists of one common share and one common share purchase warrant entitling the holder thereof to acquire a further common share at a price of CA$0.19 for a period of one year from the date of closing of the respective financing tranche | ||||||||||||||||||||
Subsequent Event [Member] | June 2021 Convertible Debenture [Member] | ||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||
Number of shares issued | 1,000,000 | |||||||||||||||||||||
Subsequent Event [Member] | June 2021 Convertible Debenture [Member] | Common Class A [Member] | ||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||
Number of warrants exercisable | 500,000 | |||||||||||||||||||||
Warrants exercisable price | $ / shares | $ 0.13 | |||||||||||||||||||||
Subsequent Event [Member] | June 2021 Convertible Debenture [Member] | Common Class B [Member] | ||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||
Number of warrants exercisable | 500,000 | |||||||||||||||||||||
Warrants exercisable price | $ / shares | $ 0.19 | |||||||||||||||||||||
Subsequent Event [Member] | Non Brokered Private Placement [Member] | ||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||
Number of shares issued | 2,467,000 | |||||||||||||||||||||
Proceeds from Issuance of Private Placement | $ | $ 616,750 | |||||||||||||||||||||
Subsequent Event [Member] | Non Brokered Private Placement [Member] | Share-Based Payment Arrangement, Tranche One [Member] | ||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||
Number of shares issued price per share | $ / shares | $ 0.25 | |||||||||||||||||||||
Number of shares issued | 1,727,000 | |||||||||||||||||||||
Proceeds from Issuance of Private Placement | $ | $ 431,750 | |||||||||||||||||||||
Subsequent Event [Member] | Non Brokered Private Placement [Member] | Share Based Compensation Award Second and Final Tranche [Member] | ||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||
Number of shares issued price per share | $ / shares | $ 0.25 | |||||||||||||||||||||
Number of shares issued | 740,000 | |||||||||||||||||||||
Proceeds from Issuance of Private Placement | $ | $ 185,000 | |||||||||||||||||||||
Subsequent Event [Member] | Non Brokered Private Placement One [Member] | ||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||
Issuance of shares description | Each unit consists of one common share and one common share purchase warrant entitling the holder thereof to acquire a further common share at a price of $0.45 for a period of one year from the date of closing | |||||||||||||||||||||
Common Stock [Member] | ||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||
Proceeds from issuance of common stock | $ 2,899,295 | $ 2,293,946 | ||||||||||||||||||||
Warrants shares | 15,389,448 | 15,389,448 | ||||||||||||||||||||
Number of shares issued | 1,375,499 | 1,375,499 | 25,724,955 | |||||||||||||||||||
Common Stock [Member] | June 2021 Convertible Debenture [Member] | ||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||
Number of shares issued | 6,000,000 | 6,000,000 | ||||||||||||||||||||
Common Stock [Member] | Non Brokered Private Placement One [Member] | ||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||
Issuance of shares description | Each unit issued consists of one common share and one common share purchase warrant entitling the holder to acquire a further common share at a price of CA$0.19 for a period of one year from the closing date of the respective financing tranche | Each unit issued consists of one common share and one common share purchase warrant entitling the holder to acquire a further common share at a price of CA$0.19 for a period of one year from the closing date of the respective financing tranche | ||||||||||||||||||||
Common Stock [Member] | Subsequent Event [Member] | ||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||
Number of warrants exercisable | 3,793,331 | |||||||||||||||||||||
Number of shares issued price per share | $ / shares | $ 0.19 | |||||||||||||||||||||
Proceeds from issuance of common stock | $ | $ 720,733 | |||||||||||||||||||||
Common stock broker warrants expired unexercised | 13,725 | |||||||||||||||||||||
Common Stock [Member] | Subsequent Event [Member] | June 2021 Convertible Debenture [Member] | ||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||
Number of shares issued | 1,000,000 | |||||||||||||||||||||
Common Stock One [Member] | ||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||
Number of warrants exercisable | 15,159,448 | 15,159,448 | ||||||||||||||||||||
Number of shares issued price per share | $ / shares | $ 0.19 | $ 0.19 | ||||||||||||||||||||
Proceeds from issuance of common stock | 2,279,136 | $ 2,880,295 | ||||||||||||||||||||
Common Stock One [Member] | Subsequent Event [Member] | ||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||
Number of warrants exercisable | 800,000 | |||||||||||||||||||||
Number of shares issued price per share | $ / shares | $ 0.05 | |||||||||||||||||||||
Proceeds from issuance of common stock | $ | $ 40,000 | |||||||||||||||||||||
Warrant [Member] | ||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||
Warrants shares | 2,428,363 | 2,428,363 | ||||||||||||||||||||
Warrant [Member] | Subsequent Event [Member] | ||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||
Warrants shares | 1,153,414 | |||||||||||||||||||||
Common Stock Two [Member] | ||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||
Number of warrants exercisable | 200,000 | 200,000 | ||||||||||||||||||||
Number of shares issued price per share | $ / shares | $ 0.05 | |||||||||||||||||||||
Proceeds from issuance of common stock | $ 10,000 | $ 7,830 | ||||||||||||||||||||
Common Stock Two [Member] | Subsequent Event [Member] | ||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||
Number of warrants exercisable | 300,000 | |||||||||||||||||||||
Number of shares issued price per share | $ / shares | $ 0.05 | |||||||||||||||||||||
Proceeds from issuance of common stock | $ | $ 15,000 | |||||||||||||||||||||
Common Stock Three [Member] | ||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||
Number of warrants exercisable | 30,000 | 30,000 | ||||||||||||||||||||
Number of shares issued price per share | $ / shares | $ 0.30 | $ 0.30 | ||||||||||||||||||||
Proceeds from issuance of common stock | $ 6,981 | $ 9,000 | ||||||||||||||||||||
Common Stock Three [Member] | Subsequent Event [Member] | ||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||
Number of warrants exercisable | 250,000 | |||||||||||||||||||||
Number of shares issued price per share | $ / shares | $ 0.13 | |||||||||||||||||||||
Proceeds from issuance of common stock | $ | $ 32,500 |