Bright Minds Biosciences (DRUG) 20-F 29 Dec 23 2023 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Sep. 30, 2023 shares
Entity Addresses [Line Items]
Entity Registrant Name	BRIGHT MINDS BIOSCIENCES INC.
Entity Central Index Key	0001827401
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Entity File Number	001-40997
Document Period End Date	Sep. 30, 2023
Entity Address, Address Line One	19 Vestry Street
Entity Address, City or Town	NY
Entity Address, State or Province	NY
Entity Incorporation, State or Country Code	Z4
Entity Address, Country	US
Entity Address, Postal Zip Code	10013
Title of 12(b) Security	Common Shares
Trading Symbol	DRUG
Security Exchange Name	NASDAQ
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding	4,463,837
Document Accounting Standard	International Financial Reporting Standards
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Interactive Data Current	Yes
Document Transition Report	false
Document Shell Company Report	false
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Auditor Firm ID	1054
Auditor Name	De Visser Gray LLP
Auditor Location	Vancouver, Canada
Document Financial Statement Error Correction [Flag]	false
Business Contact [Member]
Entity Addresses [Line Items]
Contact Personnel Name	Ian McDonald
Entity Address, Address Line One	19 Vestry Street
Entity Address, City or Town	NY
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10013
City Area Code	647
Local Phone Number	407-2515
Contact Personnel Email Address	ian@brightmindsbio.com

Consolidated Statements of Fina

Consolidated Statements of Financial Position - CAD ($)	Sep. 30, 2023	Sep. 30, 2022
Current Assets
Cash and cash equivalents	$ 6,747,986	$ 11,627,913
Sales tax receivable	36,981	114,518
Other receivables	0	41,261
Prepaids	27,692	164,429
Total current assets	6,812,659	11,948,121
Non-Current Assets
Right-of-use asset	66,413	138,863
TOTAL ASSETS	6,879,072	12,086,984
Current Liabilities
Accounts payable and accrued liabilities	207,307	1,404,561
Lease liability - current portion	73,549	67,928
Total current liabilities	280,856	1,472,489
Non-Current Liabilities
Lease liability - non-current portion	0	71,983
TOTAL LIABILITIES	280,856	1,544,472
Shareholders' equity
Share capital	33,914,308	32,237,844
Pre-funded warrants	831,834	0
Reserves	3,399,097	2,479,466
Deficit	(31,547,023)	(24,174,798)
TOTAL SHAREHOLDERS' EQUITY	6,598,216	10,542,512
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 6,879,072	$ 12,086,984

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - CAD ($)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
EXPENSES
Consulting fees	$ 207,390	$ 771,329	$ 394,624
Directors' compensation	1,156,523	99,438	136,612
Foreign exchange	(14,189)	(12,151)	(154,099)
Funds processing fees - private placements	0	0	18,665
Marketing, advertising, and investor relations	119,418	551,864	852,151
Office and administrative	278,809	478,248	197,125
Professional fees	437,679	650,196	709,954
Regulatory and filing	186,651	243,079	181,743
Research and development	4,999,944	12,180,938	6,313,988
TOTAL EXPENSES	(7,372,225)	(14,962,941)	(8,650,763)
Impairment of intangible assets	0	(2,000)	0
Net and comprehensive loss	$ (7,372,225)	$ (14,964,941)	$ (8,650,763)
Basic loss per share	$ (1.98)	$ (6.06)	$ (4.82)
Diluted loss per share	$ (1.98)	$ (6.06)	$ (4.82)
Weighted average number of common shares outstanding -basic	3,719,775	2,470,383	1,794,805
Weighted average number of common shares outstanding -diluted	3,719,775	2,470,383	1,794,805

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - CAD ($)		Share Capital [Member]	Subscriptions receivable [Member]	Subscriptions received [Member]	Pre-funded warrants [member]	Reserves [Member]	Deficit [Member]	Total
Balance at Sep. 30, 2020		$ 980,661	$ (1,000)	$ 147,426		$ 161,300	$ (559,094)	$ 729,293
Balance (shares) at Sep. 30, 2020	[1]	948,708
Private placement - common shares		$ 27,924,936	(32,684)	(147,426)	$ 0	0	0	27,744,826
Private placement - common shares (shares)	[1]	1,009,804
Finder's fees - cash		$ (1,516,317)	0	0	0	0	0	(1,516,317)
Finder's fees - broker warrants		(521,000)	0	0	0	521,000	0	0
Finder's fees - share options		(2,140)	0	0	0	2,140	0	0
Share issue costs		(290,309)	0	0	0	0	0	(290,309)
Debt settlement with shares		$ 18,500	0	0	0	0	0	18,500
Debt settlement with shares (shares)	[1]	2,960
Special warrant conversion		$ 20,000	0	0	0	0	0	20,000
Special warrant conversion (shares)	[1]	3,200
Warrants exercised		$ 97,400	0	0	0	0	0	97,400
Warrants exercised (shares)	[1]	389,600
Shares issued to the University		$ 368,550	0	0	0	0	0	368,550
Shares issued to the University (shares)	[1]	12,600
Share-based compensation		$ 0	0	0	0	880,615	0	880,615
Net loss		0	0	0	0	0	(8,650,763)	(8,650,763)
Balance at Sep. 30, 2021		$ 27,080,281	(33,684)	0	0	1,565,055	(9,209,857)	19,401,795
Balance (shares) at Sep. 30, 2021	[1]	2,366,872
Private placement - common shares		$ 4,001,200	(33,684)	0	0	0	0	4,034,884
Private placement - common shares (shares)	[1]	571,600
Finder's fees - cash		$ (539,329)	0	0	0	0	0	(539,329)
Finder's fees - compensation warrants		(531,000)	0	0	0	531,000	0	0
Finder's fees - share options		(39,355)	0	0	0	39,355	0	0
Share issue costs		(260,650)	0	0	0	0	0	(260,650)
Warrants exercised		$ 1,653,170	0	0	0	0	0	1,653,170
Warrants exercised (shares)	[1]	529,960
Compensation warrants exercised		$ 846,277	0	0	0	(531,000)	0	315,277
Compensation warrants exercised (shares)	[1]	45,040
Shares issued to a consultant		$ 27,250	0	0	0	0	0	27,250
Shares issued to a consultant (shares)	[1]	5,000
Share-based compensation		$ 0	0			875,056	0	875,056
Net loss		0	0	0	0	0	(14,964,941)	(14,964,941)
Balance at Sep. 30, 2022		$ 32,237,844	0	0	0	2,479,466	(24,174,798)	10,542,512
Balance (shares) at Sep. 30, 2022	[1]	3,518,472
Private placement - common shares		$ 1,217,500	0	0	0		0	1,217,500
Private placement - common shares (shares)	[1]	194,800
Private placement - pre-funded warrants		$ 0	0	0	831,834	0	0	831,834
Share issue costs		(26,976)	0	0	0	0	0	(26,976)
Warrants exercised		$ 253,440	0	0	0	0	0	253,440
Warrants exercised (shares)	[1]	28,800
RSUs exercised		$ 232,500	0	0	0	(232,500)	0	0
RSUs exercised (shares)	[1]	30,000
Share-based compensation		$ 0	0	0	0	1,152,131	0	1,152,131
Net loss		0	0	0	0	0	(7,372,225)	(7,372,225)
Balance at Sep. 30, 2023		$ 33,914,308	$ 0	$ 0	$ 831,834	$ 3,399,097	$ (31,547,023)	$ 6,598,216
Balance (shares) at Sep. 30, 2023	[1]	3,772,072
[1]On July 14, 2023, the Company completed a share consolidation on the basis of 1 new common share to 5 old common shares (Note 6). For accounting purposes, recognition of the share consolidation has been made retroactively such that all share and per share numbers have been adjusted to reflect the share consolidation.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - CAD ($)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Operating activities
Net loss for the year	$ (7,372,225)	$ (14,964,941)	$ (8,650,763)
Non-cash items:
Depreciation - right-of-use asset	72,450	6,037	0
Foreign exchange	45,348	(258,824)	(223,787)
Shares recorded as consulting fees	0	27,250	0
Shares recorded as research and development	0	0	368,550
Share-based compensation	1,152,131	875,056	880,615
Interest on lease liability	19,750	2,173	0
Impairment of intangible assets	0	2,000	0
Changes in non-cash operating working capital items:
Sales tax receivable	77,537	(4,372)	(110,146)
Other receivables	41,261	(41,261)
Prepaids	136,737	3,778	(89,920)
Accounts payable and accrued liabilities	(1,197,254)	765,988	506,150
Net cash used in operating activities	(7,024,265)	(13,587,116)	(7,319,301)
Financing activities
Private placement proceeds	1,217,500	4,034,884	27,744,826
Finder's fees	0	(539,329)	(1,516,317)
Share issue costs	(26,976)	(260,650)	(290,309)
Pre-funded warrant proceeds	831,834	0	0
Special warrant proceeds	0	0	22,875
Refund of special warrant proceeds	0	0	(2,875)
Warrant exercise proceeds	253,440	1,653,170	97,400
Compensation warrant exercise proceeds	0	315,277	0
Principal portion of lease liability	(86,112)	(7,162)	0
Net cash from financing activities	2,189,686	5,196,190	26,055,600
Change in cash and cash equivalents	(4,834,579)	(8,390,926)	18,736,299
Effect of foreign exchange on cash	(45,348)	258,824	223,787
Cash and cash equivalents, beginning of year	11,627,913	19,760,015	799,929
Cash and cash equivalents, end of year	6,747,986	11,627,913	19,760,015
SUPPLEMENTARY INFORMATION
Debt settlement by issuing shares	0	0	18,500
Fair value ascribed by brokers' warrants issued	0	0	521,000
Fair value of RSUs exercised	232,500	0	0
Fair value of options issued as finders' fees	$ 0	$ 39,355	$ 2,140

NATURE AND CONTINUANCE OF OPERA

NATURE AND CONTINUANCE OF OPERATIONS	12 Months Ended
	Sep. 30, 2023
Nature And Continuance Of Operations [Abstract]
NATURE AND CONTINUANCE OF OPERATIONS [Text Block]	1. NATURE AND CONTINUANCE OF OPERATIONS Bright Minds Biosciences Inc. (the "Company") was incorporated under the Business Corporations Act of British Columbia on May 31, 2019. The Company's objective is to generate income and achieve long term profitable growth through the development of therapeutics to improve the lives of patients with certain severe and life-altering diseases. On February 8, 2021, the Company started trading on the Canadian Stock Exchange ("CSE") under the symbol DRUG. On May 17, 2021, the Company started trading on the OTCQB under the symbol BMBIF. On November 8, 2021, the Company started trading on the NASDAQ under the symbol DRUG. The registered address of the Company is located at 1500 - 1055 West Georgia Street, Vancouver, British Columbia, V6E 4N7, Canada. The head office address of the Company is located at 19 Vestry Street, New York, NY 10013, USA. These consolidated financial statements have been prepared on a going concern basis which assumes that the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. As at September 30, 2023, the Company is not able to finance day to day activities through operations and has incurred a loss of $7,372,225 for the year ended September 30, 2023. The Company has a deficit of $31,547,023 since inception and negative operating cash flows. As at September 30, 2023, the Company has working capital of $6,531,803 (September 30, 2022 - $10,475,632). The continuing operations of the Company are dependent upon its ability to attain profitable operations and generate funds therefrom. Management intends to finance operating costs with equity financings, loans from directors and companies controlled by directors and/or private placement of common shares.

STATEMENT OF COMPLIANCE AND BAS

STATEMENT OF COMPLIANCE AND BASIS OF PREPARATION	12 Months Ended
	Sep. 30, 2023
Statement Of Compliance And Basis Of Preparation [Abstract]
STATEMENT OF COMPLIANCE AND BASIS OF PREPARATION [Text Block]	2. STATEMENT OF COMPLIANCE AND BASIS OF PREPARATION Statement of compliance These consolidated financial statements have been prepared in accordance with the International Financial Reporting Standards ("IFRS") issued by the International Accounting Standards Board ("IASB") and Interpretations of the International Financial Reporting Interpretations Committee ("IFRIC"). The principal accounting policies applied in the preparation of these consolidated financial statements are set out below. Basis of preparation Depending on the applicable IFRS requirements, the measurement basis used in the preparation of these consolidated financial statements is cost, net realizable value, fair value or recoverable amount. These consolidated financial statements, except for the statement of cash flows, are based on the accrual basis.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Sep. 30, 2023
Disclosure Of Detailed Information About Significant Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES [Text Block]	3. Basis of consolidation These consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries Bright Minds Biosciences LLC, a Delaware limited liability company, and Bright Minds Bioscience Pty Ltd., a proprietary company registered under the Corporations Act of Australia on June 24, 2021. On June 10, 2021, the CEO (the "Chief Executive Officer") of the Company transferred, assigned and conveyed all of his membership interests in Bright Minds Biosciences LLC to the Company. A subsidiary is an entity that the Company controls, either directly or indirectly, where control is defined as the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. The financial results of the Company's subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases. The accounting policies of the Company's subsidiaries have been aligned with the policies adopted by the Company. When the Company ceases to control a subsidiary, the financial statements of that subsidiary are de-consolidated. Inter-company balances and transactions, and any income and expenses arising from inter-company transactions, have been eliminated in these consolidated financial statements. Critical accounting estimates The preparation of the consolidated financial statements in conformity with IFRS requires management to make estimates, judgments and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. Certain of the Company's accounting policies and disclosures require key assumptions concerning the future and other estimates that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities or disclosures within the next fiscal year. Where applicable, further information about the assumptions made is disclosed in the notes specific to that asset or liability. The critical accounting estimates and judgments set out below have been applied consistently to all periods presented in these consolidated financial statements. Ability to continue as a going concern Evaluation of the ability of the Company to realize its strategy for funding its future needs for working capital involves making judgments. Share-based compensation The fair value of stock options is measured using a Black Scholes option pricing model. Measurement inputs include the common share price on the grant date, the exercise price of the instrument, the expected common share price volatility, the weighted average expected life of the instruments, the expected dividends and the risk-free interest rate. Service and non-market performance conditions are not taken into account in determining fair value. The fair value of equity settled RSUs is measured based on management's best estimate of the Company's share price on the grant date. The share-based compensation recognized is also determined based on management's grant date estimate of the forfeitures that are expected to occur over the life of the stock options and equity settled RSUs. Cash settled RSUs outstanding are fair valued using a mark-to-market calculation based on the Company's closing common share price at the end of the period. The number of stock options and RSUs that actually vest could differ from the estimated number of awards expected to vest and any differences between the actual and estimated forfeitures are recognized prospectively as they occur. Foreign currency translation The functional currency of the Company, Bright Minds Biosciences LLC and Bright Minds Bioscience Pty Ltd. is the Canadian dollar and the presentation currency of the Company is the Canadian dollar. Transactions in currencies other than the functional currency are recorded at the rates of exchange prevailing on the transaction date. Monetary assets and liabilities that are denominated in foreign currencies are translated at the rates prevailing at each reporting date. Non-monetary assets and liabilities denominated in foreign currencies that are measured at fair value are retranslated to the functional currency at the exchange rate at the date the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated. Foreign currency translation differences are recognized in profit or loss. Business combinations The Company uses the acquisition method to account for business combinations. The Company measures goodwill as the fair value of the consideration transferred, less the net recognized amount (generally fair value) of the identifiable assets acquired and liabilities assumed, all measured as of the acquisition date. When the excess is negative, a gain on acquisition is recognized immediately in net income or loss. Goodwill is not amortized and is tested for impairment annually. Additionally, goodwill is reviewed at each reporting date to determine if events or changes in circumstances indicate that the asset might be impaired, in which case an impairment test is performed. Goodwill is measured at cost less accumulated impairment losses. Transaction costs, other than those associated with the issue of debt or equity securities, that the Company incurs in connection with a business combination are expensed as incurred. Internally generated intangible assets - Research and development expenditure Intangible assets acquired separately are initially recognized at cost. Expenditure on research activities is recognized as an expense in the period in which it is incurred. An internally generated intangible asset arising from development (or from the development phase of an internal project) is recognized if, and only if, all of the following have been demonstrated: • • • • • • The amount initially recognized for internally-generated intangible assets is the sum of the expenditures incurred from the date when the intangible asset first meets the recognition criteria listed above. Where no internally-generated intangible asset can be recognized, development expenditure is recognized in profit or loss in the period in which it is incurred. Subsequent to initial recognition, internally-generated intangible assets are reported at cost less accumulated amortization and accumulated impairment losses, on the same basis as intangible assets that are acquired separately. At September 30, 2023 and 2022, the Company has not recognized any internally-generated intangible assets. Share-based compensation awards Share-based compensation expense relates to stock options as well as cash and equity settled restricted share units ("RSUs"). The grant date fair values of stock options and equity settled RSUs granted are recognized as an expense, with a corresponding increase in reserves in equity, over the vesting period. The amount recognized as an expense is based on the estimate of the number of awards expected to vest, which is revised if subsequent information indicates that actual forfeitures are likely to differ from the estimate. Upon exercise of stock options, the consideration paid by the holder is included in share capital and the related reserves associated with the stock options exercised is reclassified into share capital. Upon vesting of equity settled RSUs, the related reserves associated with the RSU is reclassified into share capital. For cash settled RSUs, the fair value of the RSUs is recognized as share-based compensation expense, with a corresponding increase in accrued liabilities over the vesting period. The amount recognized as an expense is based on the estimate of the number of RSUs expected to vest. Cash settled RSUs are measured at their fair value at each reporting period on a mark-to-market basis. Upon vesting of the cash settled RSUs, the liability is reduced by the cash payout. Provisions A provision is recognized if, as a result of a past event, the Company has a present legal or constructive obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognized as a finance cost within net income or loss. Income taxes Current income tax: Current income tax assets and liabilities for the current period are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date, in the countries where the Company operates and generates taxable income. Deferred tax: Deferred tax is provided on temporary differences at the reporting date between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and recognized only to the extent that it is probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current income tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority. Loss per share Basic loss per share is calculated by dividing the loss attributable to common shareholders by the weighted average number of common shares outstanding in the period. The loss attributable to common shareholders equals the reported loss attributable to owners of the Company. Diluted loss per share is calculated using the treasury stock method. Under the treasury stock method, the weighted average number of common shares outstanding for the calculation of diluted loss per share assumes that the proceeds to be received on the exercise of dilutive share options and warrants are used to repurchase common shares at the average market price during the period. Because the Company incurred net losses, the effect of dilutive instruments would be anti-dilutive and therefore diluted loss per share equals loss per share. Share capital Financial instruments issued by the Company are classified as equity only to the extent that they do not meet the definition of a financial liability or financial asset. The Company's common shares are classified as equity instruments. Incremental costs directly attributable to the issue of new common shares are recognized as a deduction from equity, net of tax. Investment tax credits Investment tax credits under the Australian government's Research and Development Tax Incentive program are recorded using the cost reduction approach based on IAS 20, Accounting for Government Grants and Disclosure of Government Assistance. Investment tax credits related to current research and development expenses are included in the consolidated statements of comprehensive loss as a reduction of expenses. Investment tax credits arising on qualified expenditures are recognized when there is reasonable assurance that the credits will be realized. The investment tax credits are subject to audit by taxation authorities and the actual amount may change depending on the outcome of an audit. Financial instruments Financial instruments are accounted for in accordance with IFRS 9, "Financial Instruments: Classification and Measurement". A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. Financial assets (a) Recognition and measurement of financial assets The Company recognizes a financial asset when it becomes a party to the contractual provisions of the instrument. (b) Classification of financial assets The Company classifies financial assets at initial recognition as financial assets: measured at amortized cost, measured at fair value through other comprehensive income ("FVTOCI") or measured at fair value through profit or loss ("FVTPL"). (i) Financial assets measured at amortized cost A financial asset that meets both of the following conditions is classified as a financial asset measured at amortized cost: • The Company's business model for such financial assets is to hold the assets in order to collect contractual cash flows. • The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the amount outstanding. A financial asset measured at amortized cost is initially recognized at fair value plus transaction costs directly attributable to the asset. After initial recognition, the carrying amount of the financial asset measured at amortized cost is determined using the effective interest method, net of impairment loss, if necessary. (ii) Financial assets measured at FVTOCI A financial asset measured at FVOCI is recognized initially at fair value plus transaction costs directly attributable to the asset. After initial recognition, the asset is measured at fair value with changes in fair value included as "financial asset at fair value through other comprehensive income" in other comprehensive income or loss. (iii) Financial assets measured at FVTPL A financial asset measured at FVTPL is initially recognized at fair value with any associated transaction costs being recognized in profit or loss when incurred. Subsequently, the financial asset is re-measured at fair value and a gain or loss is recognized in profit or loss in the reporting period in which it arises. The Company's cash and cash equivalents are classified as subsequently measured at FVTPL. (c) Derecognition of financial assets The Company derecognizes a financial asset if the contractual rights to the cash flows from the asset expire, or the Company transfers substantially all the risks and rewards of ownership of the financial asset. Any interests in transferred financial assets that are created or retained by the Company are recognized as a separate asset or liability. Gains and losses on derecognition are generally recognized in the consolidated statement of comprehensive loss. However, gains and losses on derecognition of financial assets classified as FVTOCI remain within accumulated other comprehensive income or loss. Financial liabilities (a) Recognition and measurement of financial liabilities The Company recognizes a financial liability when it becomes a party to the contractual provisions of the instrument. (b) Classification of financial liabilities (i) Financial liabilities measured at amortized cost A financial liability measured at amortized cost is initially measured at fair value less transaction costs directly attributable to the issuance of the financial liability. Subsequently, the financial liability is measured at amortized cost using the effective interest method. The Company's accounts payable and accrued liabilities are classified as subsequently measured at amortized cost. (ii) Financial liabilities measured at fair value through profit or loss A financial liability measured at fair value through profit or loss is initially measured at fair value with any associated transaction costs being recognized in profit or loss when incurred. Subsequently, the financial liability is re-measured at fair value and a gain or loss is recognized in profit or loss in the reporting period in which it arises. (c) Derecognition of financial liabilities The Company derecognizes a financial liability when the financial liability is discharged, cancelled or expired. Generally, the difference between the carrying amount of the financial liability derecognized and the consideration paid and payable, including any non-cash assets transferred or liabilities assumed, is recognized in the consolidated statement of comprehensive loss. Offsetting financial assets and liabilities Financial assets and liabilities are offset and the net amount is presented in the consolidated statement of financial position only when the Company has a legally enforceable right to offset the recognized amounts and intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously. Impairment of financial assets The Company recognizes a loss allowance for expected credit losses on financial assets that are measured at amortized cost. At each reporting date, the Company measures the loss allowance for the financial asset at an amount equal to the lifetime expected credit losses if the credit risk on the financial asset has increased significantly since initial recognition. If at the reporting date, the financial asset has not increased significantly since initial recognition, the Company measures the loss allowance for the financial asset at an amount equal to the twelve-month expected credit losses. The Company recognizes in the consolidated statement of comprehensive income or loss, as an impairment loss (or gain), the amount of expected credit losses (or reversal) that is required to adjust the loss allowance at the reporting date to the amount that is required to be recognized. Leases Leases are accounted for in accordance with IFRS 16, "Leases". At inception of a contract, the Company assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset over a period of time in exchange for consideration. The Company assesses whether the contract involves the use of an identified asset, whether it has the right to obtain substantially all of the economic benefits from the use of the asset during the term of the contract and if it has the right to direct the use of the asset. As a lessee, the Company recognizes a right-of-use asset and a lease liability at the commencement date of the lease. Right-of-use asset The right-of-use asset is initially measured at cost, which is comprised of the initial amount of the lease liability adjusted for any lease payments made and any initial direct costs incurred at or before the commencement date, less any lease incentives received. The right-of-use asset is subsequently depreciated from the commencement date to the earlier of the end of the lease term, or the end of the useful life of the asset. In addition, the right-of-use asset may be reduced due to impairment losses, if any, and adjusted for certain re-measurements of the lease liability. Lease liability A lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date discounted by the interest rate implicit in the lease or, if that rate cannot be readily determined, the incremental borrowing rate. The lease liability is subsequently measured at amortized cost using the effective interest method. New standards and interpretations not yet adopted A number of new standards, amendments to standards and interpretations are not yet effective for the year ended September 30, 2023 and have not been applied in preparing these consolidated financial statements. The following new standards have not been adopted which may impact the Company in future: IAS 1 - Presentation of Financial Statements An amendment to IAS 1 clarifies the criterion for classifying a liability as non-current relating to the right to defer settlement of a liability for at least 12 months after the reporting period. IAS 1 has amended the definition of material to "information is material if omitting, misstating or obscuring it could reasonably be expected to influence decisions that the primary users of general-purpose financial statements make on the basis of those financial statements, which provide financial information about a specific reporting entity." The previous definition of material from IAS1 was "omissions or misstatements of items are material if they could, individually or collectively, influence the economic decisions that users make on the basis of the financial statements. Materiality depends on the size and nature of the omission or misstatement judged in the surrounding circumstances. The size or nature of the item, or a combination of both, could be the determining factor." IAS 8 - Accounting Policies, Changes in Accounting Estimates and Errors IAS 8 amended the definition of material reflect the changes outlined above under IAS 1. IAS 12 and IFRIC 23 - Income Taxes IAS 12 currently provides guidance on current and deferred tax assets and liabilities however uncertainty may exist on how tax law applies to certain transactions. IFRIC 23 provides guidance on how to address uncertainty related to tax treatments.

INTANGIBLE ASSETS

INTANGIBLE ASSETS	12 Months Ended
	Sep. 30, 2023
Share Exchange And Assignment [Abstract]
INTANGIBLE ASSETS [Text Block]	4. INTANGIBLE ASSETS Psilocybinlabs Ltd. ("PL") was incorporated under the laws of the province of British Columbia on April 25, 2019, with the incorporator share being held by a company controlled by the CEO of the Company. On May 17, 2019, this share was transferred to the Company. On April 25, 2019, PL entered into a confirmatory assignment and waiver (the "CAW") with an individual, which was amended and restated on May 17, 2019. Pursuant to the amended and restated CAW, this individual assigned all of the right, title and interest, including all other intellectual property rights (the Rights, as described) to PL. As compensation for the assignment of the Rights, PL issued 100,000 common shares valued at $2,000 to this individual. On August 7, 2019, the Company then purchased the 100,000 common shares of PL by issuing 20,000 common shares of the Company valued at $2,000, with the reacquisition being recorded as an asset acquisition. On September 29, 2022, the directors of the Company agreed to wind-up and dissolve PL and the carrying value of the intangible asset was impaired during the year ended September 30, 2022.

ACCOUNTS PAYABLE AND ACCRUED LI

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	12 Months Ended
	Sep. 30, 2023
Trade and other current payables [abstract]
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES [Text Block]	5. September 30, 2023 September 30, 2022 $ $ Accounts payable 182,307 1,246,384 Accrued liabilities 25,000 158,177 Total accounts payable and accrued liabilities 207,307 1,404,561

SHARE CAPITAL

SHARE CAPITAL	12 Months Ended
	Sep. 30, 2023
Disclosure of classes of share capital [abstract]
SHARE CAPITAL [Text Block]	6. Authorized share capital Unlimited number of common shares without par value. On July 14, 2023, the Directors of the Company approved the consolidation of the Company's issued and outstanding common shares on a 5:1 basis. All common shares, stock options, restricted share units and warrant references in these consolidated financial statements reflect the effect of the share consolidation. Issued share capital for the year ended September 30, 2023 On December 2, 2022, the Company issued 133,200 pre-funded warrants ("PFWs") of the Company at a price per PFW of $6.245 and 194,800 Units of the Company at a price per Unit of $6.25 for aggregate gross proceeds of $2,049,334. Each PFW is exercisable into one Unit at an exercise price of $0.005 per Unit on the date that is the earlier of (a) the date the holder thereof elects to exercise the PFWs and pays the exercise price, and (b) December 2, 2024. Each Unit is comprised of one common share and one common share purchase warrant ("Warrant") of the Company. Each Warrant is exercisable to acquire one common share of the Company at an exercise price of $6.75 per share until December 2, 2024. The PFWs are classified as a component of permanent shareholders' equity because they are freestanding financial instruments that are legally detachable and separately exercisable from the Units with which they were issued, are immediately exercisable, do not embody an obligation for the Company to repurchase its shares, and permit the holders to receive a fixed number of common shares upon exercise. On March 10, 2023, 30,000 RSUs were exercised and $232,500 was reclassified from reserves to share capital upon the exercise. During the year ended September 30, 2023, an aggregate of 28,800 warrants were exercised for gross proceeds of $253,440. Issued share capital for the year ended September 30, 2022 On April 11, 2022, the Company entered into a scientific advisory board agreement with Karl Deisseroth ("Deisseroth") pursuant to which the Company will pay Deisseroth a monthly fee of US$4,166.66 and issued an aggregate 5,000 common shares (the "Payment Shares") in the capital of the Company at a fair market value of $5.45 per share (total fair market value of $27,250). The Payment Shares will be issued in escrow and released to Deisseroth over a period of four years commencing on March 8, 2023 (see Note 8). On August 30, 2022, the Company issued 571,600 Units of the Company at a price per unit of $7.00 for aggregate gross proceeds of $4,001,200. Each Unit is comprised of one common share and one common share purchase warrant of the Company. Each Warrant is exercisable to acquire one common share of the Company at an exercise price of $8.80 per share until August 30, 2024. The agent was paid a cash finder's fee $280,084 and expenses of $176,065 and received compensation warrants entitling them to purchase an aggregate of 26,808 Units of the Company at a per unit price of $7.00 for a period of twenty-four months following closing, with the Units having the same terms as the Units sold pursuant to the Offering. An advisor was additionally paid a cash finder's fee of $259,245 and received compensation warrants entitling them to purchase an aggregate of 18,232 Units of the Company at a per unit price of $7.00 for a period of twenty-four months following closing, with the Units having the same terms as the Units sold pursuant to the Offering. The Company incurred additional share issue costs of $84,585 in connection with the offering. In September 2022, 45,040 compensation warrants were exercised for gross proceeds of $315,277. Upon exercise, $531,000 was reclassified from reserves to share capital. During the year ended September 30, 2022, 529,960 warrants priced at $0.25, $8.80, and $47.30 per unit were exercised for gross proceeds of $1,653,170. Issued share capital for the year ended September 30, 2021 On November 2, 2020, the Company closed the second tranche of a non-brokered private placement financing through the issuance of 325,828 common shares at a price $6.25 per common share for gross proceeds of $2,036,422. On January 6, 2021, the Company issued 2,960 common shares at a deemed price of $6.25 per share to settle an $18,500 debt owing to a consultant pursuant to a debt settlement agreement entered into by the Company with the consultant. On February 3, 2021, the 3,200 SWs were deemed to be exercised for SW shares and 3,200 common shares of the Company were issued to the SW holders (see below). On March 17, 2021, the Company issued 683,977 Units at a price per Unit of $37.85 for aggregate gross proceeds of $25,888,514. Each Unit comprised one common share and one-half of one common share purchase warrant of the Company. Each warrant is exercisable to acquire one common share of the Company at an exercise price of $47.30 per share until March 17, 2024, subject to adjustment and acceleration in certain events. If the daily volume weighted average trading price of the common shares on the CSE is equal to or greater than $66.25 per common share for any 10 consecutive trading days, the Company shall have the right to accelerate the expiry date of the warrants to a date that is at least 30 trading days following the date of the Company issuing a press release disclosing such acceleration. The underwriters were paid fees for their services in the amount of $916,317 and received compensation warrants entitling them to purchase an aggregate of 26,533 common shares at a price of $37.85 per common share for a period of thirty-six months following closing. These warrants have an ascribed value of $521,000. On February 17, 2022, the Company received $33,684 in share subscriptions receivable related to this financing. On April 6, 2021, the Company paid a New York-based company (the "Finder") a contingent cash fee in the amount of $600,000, being 4.5% of $13,333,333 in net equity proceeds received from three investors introduced to the Company by the Finder. The Finder was also entitled to receive compensation warrants allowing it to purchase an aggregate of 1,761 common shares at a price of $37.85 per common share for a period of five years. These warrants were never issued and instead, on September 21, 2021, the Company granted compensation options (see below). On April 23, 2021, 389,600 escrowed share purchase warrants were exercised for $0.25 per share for gross proceeds of $97,400. On April 28, 2021, the Company issued 12,600 common shares to the University at a deemed price of $29.25 per share. The $368,550 value attributed to these shares has been recognized as a research and development expense in the consolidated statements of comprehensive loss during the year ended September 30, 2021. See Note 8. Escrowed securities On January 28, 2021, the Company entered into an escrow agreement under National Policy 46-201 Escrow for Initial Public Offerings 96,016 - on the date that the Company's shares are listed on the CSE (February 8, 2021); and 144,024 - 6, 12, 18, 24, 30 and 36 months after the listing date. As at September 30, 2023, 144,024 common shares remain in escrow. Stock options The Company's stock option plan provides for stock options to be issued to directors, officers, employees and consultants of the Company, its subsidiaries and any personal holding company of such individuals so that they may participate in the growth and development of the Company. Subject to the specific provisions of the stock option plan, eligibility, vesting period, terms of the options and the number of options granted are to be determined by the Board of Directors at the time of grant. The stock option plan allows the Board of Directors to issue up to 10% of the Company's outstanding common shares as stock options. Options granted during the year ended September 30, 2023 On December 1, 2022, the Company granted 60,000 options to the Chief Medical Officer of the Company. The options have an exercise price of $8.25 per share, expire on December 1, 2027 and vest as follows: 25% on the first anniversary of the grant date, 25% on the second anniversary of the grant date, 25% on the third anniversary of the grant date, and 25% on the fourth anniversary of the grant date. The fair value of these stock options was measured using the Black Scholes option pricing model using the following inputs: i) exercise price: $8.25; ii) share price: $7.75; iii) term: 5 years; iv) volatility: 141.61%; v) discount rate: 3.05%; and dividends: nil. On December 1, 2022, the Company and a consultant mutually agreed to cancel 16,000 options that were previously granted on April 28, 2021. On February 16, 2023, the Company granted 47,000 options to the consultants and a director of the Company. The options have an exercise price of $5.25 per share, expire on February 16, 2028 and vest as follows: 25% on the first anniversary of the grant date, 25% on the second anniversary of the grant date, 25% on the third anniversary of the grant date, and 25% on the fourth anniversary of the grant date. The fair value of these stock options was measured using the Black Scholes option pricing model using the following inputs: i) exercise price: $5.25; ii) share price: $4.85; iii) term: 5 years; iv) volatility: 135.92%; v) discount rate: 3.45%; and dividends: nil. Options granted during the year ended September 30, 2022 On September 6, 2022, the Company granted 16,000 options to a director of the Company. These options have an exercise price of $12.30 per share, expire on September 6, 2027 and vest as follows: 25% on the grant date, 25% on the first anniversary of the grant date, 25% on the second anniversary of the grant date, and 25% on the third anniversary of the grant date. The fair value of these stock options was measured using the Black Scholes option pricing model using the following inputs: i) exercise price: $12.30; ii) share price: $12.00; iii) term: 5 years; iv) volatility: 147.31%; v) discount rate:3.33%; and dividends: nil. The following table summarizes the movements in the Company's outstanding stock options for the years ended September 30, 2023 and September 30, 2022: Number of options Weighted average exercise price Balance at September 30, 2021 205,161 $ 19.50 Granted 16,000 $ 12.30 Forfeited (38,000 ) $ 22.95 Balance at September 30, 2022 183,161 $ 18.20 Granted 107,000 $ 6.93 Cancelled (1) , (2) (78,000 ) $ 20.52 Balance at September 30, 2023 212,161 $ 11.65 (1) 30,000 and 16,000 options were forfeited 90 days after the termination of the services of a former Chief Medical Officer and a director of the Company. As at September 30, 2023, the options have a weighted average remaining life of 3.28 years (September 30, 2022 - 3.39). The following table summarizes the stock options issued and outstanding: Options Outstanding and Exercisable Expiry Date Number of Exercisable Exercise price Remaining life September 21, 2024 1,761 1,761 $ 38.20 0.98 November 17, 2025 71,400 48,133 $ 6.25 2.13 April 28, 2026 (2) 16,000 8,000 $ 38.00 2.58 June 15, 2026 16,000 8,000 $ 38.00 2.71 December 1, 2027 60,000 - $ 8.25 4.17 February 16, 2028 47,000 - $ 5.25 4.38 (2) Restricted share unit plan The Company's restricted share unit ("RSU") plan provides RSUs to be issued to directors, officers, employees and consultants of the Company, its subsidiaries and any personal holding company of such individuals so that they may participate in the growth and development of the Company. Subject to the specific provisions of the RSU plan, eligibility, vesting period, terms of the RSUs and the number of RSUs granted are to be determined by the Board of Directors at the time of the grant. The RSU plan allows the Board of Directors to issue common shares of the company as equity settled RSUs, provided that, when combined, the maximum number of common shares reserved for issuance under all share-based compensation arrangements of the Company does not exceed 10% of the Company's outstanding common shares. On December 1, 2022, the Company issued 220,000 RSUs to the directors of the Company. These RSUs vest on an annual basis over a period of four years commencing on December 1, 2022 and expiring on December 1, 2027. The estimated fair value of these RSUs is $1,705,000 and will be recognized as an expense over the vesting period of the RSUs. On April 27, 2022, the Company issued 20,000 RSUs to a director of the Company and these RSU's vest as follows: 25% on the date of grant and 25% each on April 27, 2024, 2025 and 2026. The estimated fair value of these RSUs is $127,000 and will be recognized as an expense over the vesting period of the RSUs. On February 4, 2022 and February 11, 2022, the Company issued 5,000 RSUs and 7,000 RSUs, respectively. These RSUs vest on an annual basis over a period of four years commencing on February 1, 2023. The estimated fair value of these RSUs is $181,250 and will be recognized as an expense over the vesting period of the RSUs. The following table summarizes the movements in the Company's outstanding RSUs for the years ended September 30, 2023 and September 30, 2022: Equity settled Cash settled Total Weighted average Balance at September 30, 2020 and 2021 76,000 - 76,000 $ 6.25 Granted 32,000 - 32,000 $ 29.55 Balance at September 30, 2022 108,000 - 108,000 $ 13.15 Granted 220,000 - 220,000 $ 7.75 Exercised (30,000 ) - (30,000 ) $ 7.75 Forfeited* (76,000 ) - (76,000 ) $ 6.25 Balance at September 30, 2023 222,000 - 222,000 $ 10.89 * On November 23, 2022, 76,000 RSUs were forfeited on the termination of the services of former Chief Medical Officer of the Company. As at September 30, 2023, the RSUs have a weighted average remaining life of 4.07 years (September 30, 2022 - 3.38 years). The following table summarizes the RSUs issued and outstanding: RSUs Outstanding and Exercisable Expiry Date Number of RSUs Exercisable Exercise price Remaining life February 1, 2027 5,000 1,250 $ 15.25 3.34 February 1, 2027 7,000 1,750 $ 15.00 3.34 April 27, 2027 20,000 5,000 $ 38.20 3.58 December 1, 2027 190,000 25,000 $ 7.75 4.17 Share-based compensation expense recognized in the consolidated statements of comprehensive loss is comprised of the following: For the year ended: September 30, 2023 September 30, September 30, $ $ $ Stock options 50,350 643,911 643,963 Restricted share units - equity settled grants 1,101,781 231,145 236,652 Total equity settled share-based compensation expense 1,152,131 875,056 880,615 Restricted share units - cash settled grants - - - Total share-based compensation expense 1,152,131 875,056 880,615 Share-based compensation expense is included in the consolidated statements of comprehensive loss as follows: For the year ended: September 30, 2023 September 30, September 30, $ $ $ Consulting fees 43,736 3,858 8,045 Directors' compensation 1,156,523 99,438 136,612 Marketing, advertising and investor relations - - 3,696 Professional fees - - 23,126 Research and development (48,128 ) 771,760 709,136 Total share-based compensation expense 1,152,131 875,056 880,615 Warrants The following table summarizes the movements in the Company's outstanding warrants for the years ended September 30, 2023 and September 30, 2022: Number of warrants Weighted average exercise price Balance at September 30, 2021 794,840 $ 21.75 Issued 616,640 8.80 Issued - compensation warrants 45,040 7.00 Exercised (575,000 ) 3.40 Balance at September 30, 2022 881,520 $ 23.89 Issued 194,800 6.75 Exercised (28,800 ) 8.80 Balance at September 30, 2023 1,047,520 $ 21.12 On March 17, 2021, the Company issued 26,533 compensation warrants to underwriters. The fair value of these share purchase warrants of $521,000 was measured using the Black Scholes option pricing model using the following inputs: i) exercise price: $37.85; ii) share price: $33.25; iii) term: 3 years; iv) volatility: 100%; v) discount rate: 0.35%; and dividends: nil. The fair value of these broker warrants was recorded as a reduction against share capital. On August 30, 2022, the Company granted 45,040 compensation warrants at an exercise price of $7.00 per compensation warrant expiring on August 30, 2024. Each compensation warrant comprises the one Unit under the same terms of the offering which closed on August 30, 2022. The fair value of these compensation warrants of $315,000 was measured using the Black Scholes option pricing model using the following inputs: i) exercise price: $7.00; ii) share price: $14.65; iii) term: 2 years; iv) volatility: 147.31%; v) discount rate:3.63%; and dividends: nil. As at September 30, 2023, the warrants have a weighted average remaining life of 0.80 (September 30, 2022 - 1.72) years. The following table summarizes the warrants issued and outstanding: Warrants Outstanding Expiry Date Number of Exercise price Remaining life July 30, 2024 (1) 62,960 $ 0.25 0.83 March 17, 2024 339,488 $ 47.30 0.46 March 17, 2024 26,533 $ 37.85 0.46 August 30, 2024 378,700 $ 8.80 0.92 August 30, 2024 26,808 $ 8.80 0.92 August 30, 2024 18,232 $ 8.80 0.92 December 2, 2024 194,800 $ 6.75 1.18 (1)

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Sep. 30, 2023
Disclosure of transactions between related parties [abstract]
RELATED PARTY TRANSACTIONS [Text Block]	7. RELATED PARTY TRANSACTIONS Related party transactions were recorded at the exchange value, which is the consideration determined and agreed to by the related parties. The Company's related parties include directors, key management and companies controlled by directors and key management. Included in accounts payable and accrued liabilities as at September 30, 2023 was $51,480 (September 30, 2022 - $105,181) owing to the directors of the Company and the companies controlled by key management personnel. Compensation of Key Management Personnel Key management personnel are those persons that have authority and responsibility for planning, directing and controlling the activities of the Company, directly and indirectly, and by definition include the directors of the Company. The following table summarizes expenses related to key management personnel: For the year ended: September 30, 2023 September 30, September 30, $ $ Professional fees 120,000 144,000 87,074 Research and development 575,396 572,700 772,596 Consulting fees - 174,215 - Share-based compensation included in directors' compensation 1,156,523 99,438 136,612 Share-based compensation included in professional fees - - 23,126 Share-based compensation included in research and development 32,390 123,052 236,652 1,884,309 1,113,405 1,256,060 See Note 8 for related party contractual obligations.

CONTRACTUAL OBLIGATIONS

CONTRACTUAL OBLIGATIONS	12 Months Ended
	Sep. 30, 2023
Disclosure Of Contractual Obligation [Abstract]
CONTRACTUAL OBLIGATIONS [Text Block]	8. CONTRACTUAL OBLIGATIONS License agreement On April 23, 2021, the Company entered into an exclusive license agreement with equity (the "LA") with the Board of Trustees of the UIC (the "University"), whereby the University granted to the Company, in all fields of use and worldwide, an exclusive, non-transferable license with the right to sublicense under the University's rights in and to the Patent Rights (as defined) and a non-exclusive, non-transferable license with the right to sublicense under the University's rights in and to the Technical Information (as defined) to make, have made, construct, have constructed, use, import, sell, and offer for sale royalty-bearing Product (as defined). As consideration for the grant of license, the Company will pay the following amounts (in US$) to the University: Signing Fee Net Sales Sublicensee Revenues - Annual Minimums - Years 1 and 2 - $ nil Year 3 - $5,000; Year 4 - $15,000; Year 5 - $35,000; Year 6 and thereafter - $50,000; and After first commercial sale - $250,000 or net sales royalty, whichever is higher. Milestone Payments - Prior to any sublicensing agreements, joint ventures or change of control $10,000 upon dosing the first patient in a Phase I trial; $50,000 upon dosing the first patient in the first Phase II trial; $250,000 upon dosing the first patient in a Phase III trial in the first clinical indication; and $2 million upon the first commercial sale of each clinical indication. After any sublicensing agreements, joint ventures or change of control As above; $250,000 upon dosing the first patient in each Phase II trial; $500,000 upon dosing the first patient in each Phase III trial; and $2 million upon the first commercial sale of each clinical indication. Unless otherwise agreed to in writing by the University, the Company will reimburse the University for all documented costs and expenses in connection with the Patent Rights, including the preparation, filing, prosecution, maintenance and defense thereof. From time to time, the anticipated costs and expenses may be significant and, upon request, the Company will pay the estimated costs and expenses in advance of such costs and expenses being incurred by the University. The term of the LA ends on the later of the last to expire of the Patent Rights, expiration of regulatory exclusivity for Product or when the Company provides notice that use of Technical Information has ceased. The University has the right to terminate the LA if the Company fails to make any required payments or is in breach of any provision of the LA. The Company may terminate the LA at any time upon providing at least 90 days written notice to the University. Related party contracts On June 5, 2020, the Company entered into an independent consultant agreement (the "ICA") whereby the consultant, a private corporation incorporated in the State of California, USA, was engaged and the consultant's representative will serve as the Company's Chief Medical Officer, with the services being provided in California. As compensation for performing these services, the consultant or the consultant's representative will participate in the Company's equity incentive plans and will be eligible for cash payments in respect of fees at such time as the Company begins to compensate other C-level personnel in cash and in similar proportion to total compensation (the "fees"). The non-cash portion of the consultant's fees was in the form of a grant of 30,000 vested stock options and 76,000 RSUs. The services will continue for an initial term of one year unless sooner terminated. The ICA can be terminated by either party giving the other 30 days written notice or by mutual written agreement. At the end of the initial term, the ICA will automatically be extended for additional one-year period(s) unless either party gives the other 30 days written notice. In March 2021, the Board of Directors authorized a monthly fee of US$15,000 and increased it to US$25,000 in August 2021. The Chief Medical Officer's engagement was terminated effective November 23, 2022 and the RSUs and options were cancelled (see Note 6). On October 29, 2020, the Company entered into an independent contractor agreement (the "ICA") whereby the contractor was engaged to serve as the Company's Chief Science Officer on an as-needed basis. The contractor will be compensated for these services as determined by the Board of Directors of the Company. The services will continue for an initial term of one year unless sooner terminated. The ICA can be terminated by the Company providing five working days written notice, the contractor providing three months' written notice or by mutual written agreement. At the end of the initial term, the ICA will automatically be extended for additional one-year period(s) unless the Company provides the contractor with 30 days written notice. In March 2021, the Board of Directors authorized a monthly fee of US$15,000 and increased it to US$25,000 in August 2021. Services provided by the Chief Science Officer ceased at the end of March 2022 and no further payments were made or due by the Company from April 2022 onwards. The Chief Science Officer later resigned at the end of June 2022. The Company entered into several director indemnity agreements (the "DIAs") with the directors of the Company. Pursuant to the DIAs and subject to all applicable laws, including the applicable limitations and restrictions set forth in the Business Corporations Act (British Columbia), the Company will: Indemnify and save harmless the Directors against and from: any and all charges or claims by reason of them being or having been a director of the Company or another corporation, at a time when the other corporation is or was an affiliate of the Company, or at the request of the Company; any and all costs, damages, expenses, fines, liabilities, losses and penalties (the "Consequences") which they may sustain, incur or be liable for in consequence of their acting as a director of the Company, whether sustained or incurred by reason of their negligence, default, breach of duty or trust, failure to exercise due diligence or otherwise in relation to the Company or any of its affairs; and in particular, and without in any way limiting the generality of the foregoing, any and all Consequences which they may sustain, incur or be liable for as a result of or in connection with the release or presence in the environment of substances, contaminants, litter, waste, effluent, refuse, pollutants or deleterious materials and that arise out of or are in any way connected with the management, operation, activities or existence of the Company or by virtue of them holding any other directorship with any other entity at the Company's request. gross up any indemnity payment made pursuant to the DIAs by the amount of any income tax payable by the Directors in respect of that payment; and indemnify the Directors for the amount of all costs they incur in obtaining any Court approval required to enable or require the Company to make a payment to them under the DIAs, or enforce the DIAs against the Company, including without limitation legal fees and disbursements on a full indemnity basis. Notwithstanding the above-noted, the Company will have no obligation to indemnify or save harmless the Directors in respect of any liability for which they are entitled to indemnity pursuant to any valid and collectible policy of insurance obtained and maintained by the Company, to the extent of the amounts actually collected by the Directors under the insurance policy. On April 11, 2022, the Company entered into a scientific advisory board agreement with Karl Deisseroth ("Deisseroth") pursuant to which the Company will pay Deisseroth a monthly fee of US$4,167 and issued an aggregate 5,000 common shares (the "Payment Shares") in the capital of the Company (see Note 6). On November 13, 2022, the Company entered into an ICA whereby the contractor was engaged to serve as the Chief Medical Officer of the Company effective December 1, 2022. The Company agreed to pay a signing bonus of US$35,000 upon the execution of the ICA and a fee of US$205,000 annually, payable in monthly installments. The Company also agreed to reimburse for reasonable and approved expenses arising in connection with the performance of the services. The services will continue for an initial term of one year unless sooner terminated. The ICA can be terminated by the Company providing one month written notice, the contractor providing three months' written notice or by mutual written agreement. At the end of the initial term, the ICA will automatically be extended for additional one-year period(s) unless the Company provides the contractor with 30 days written notice. In connection with the ICA, the Company granted 60,000 options with an exercise price of $8.25 per share (see Note 6). Scientific advisory board agreements The Company entered into numerous scientific advisory board agreements (the "SABAs") whereby the advisors were retained to serve as members of the Company's scientific advisory board and as consultants to the Company and senior management in the areas of scientific, technical and business advice. As compensation for performing these services, the Company will pay the advisors hourly rates of $150 and $160 per hour. The Company also granted 26,000 stock options to the advisors as part of the Company's November 17, 2020 and April 28, 2021 grant of options of which 4,000 options were cancelled on January 21, 2021. In addition, the Company granted 12,000 RSU's to the advisors of the Company on February 4, 2022 and February 11, 2022 (see Note 6). The advisors have the same hour requirements and restrictions as noted below. The services will continue for initial terms of one year unless sooner terminated. At the end of the initial terms, the SABAs will automatically be extended for an additional one-year period(s) unless either party gives the other 30 days written notice. Consulting agreements The Company has entered into numerous consulting agreements (the "CAs") whereby the consultants were retained to serve as advisors to the Company and senior management in the areas of public relations and content creation and scientific, technical and business advice. As compensation for performing these services, the Company will pay the advisors hourly rates between US$30 to US$600. The Company also granted 60,400 stock options to six advisors as part of the Company's November 17, 2020 and April 28, 2021 grant of options of which 32,000 options were cancelled on December 1, 2022 and January 30, 2023 (see Note 6). The advisors being paid $400 and $600 per hour will reserve at least six full days of services to the Company and such additional days as requested by the Company each annual period, but not to exceed 36 full days of service per year unless otherwise agreed and up to a maximum of 288 hours total per year, unless otherwise agreed. The services will continue for initial terms of one year unless sooner terminated. At the end of the initial terms, the CAs will automatically be extended for an additional one-year period(s) unless either party gives the other 30 days written notice. On October 9, 2020, the Company entered into a CA whereby the consultant was retained to serve as an advisor to the Company in the areas of scientific, technical and business advice. As compensation for performing these services, the Company will pay the advisor an hourly rate of US$130. The Company granted 18,000 stock options to the consultant on November 17, 2020 which were cancelled in December 2021. On November 6, 2020, the Company entered into a sponsored research agreement (the "SRA") with the University of Texas Medical Branch (the "UTMB") whereby the UTMB conducted a research program on behalf of the Company. Pursuant to the SRA, the agreement is effective as of October 15, 2020 and the research program was carried out through to its conclusion on February 15, 2021. As consideration for UTMB's performance, the Company paid US$66,764 which was recorded in research and development costs. On November 17, 2020, the Company entered into an ICA whereby the contractor was engaged to serve as the Company's Vice President (Discovery). The contractor will be compensated for these services as determined by the Board of Directors of the Company. The services will continue for an initial term of one year unless sooner terminated. The ICA can be terminated by the Company providing five working days written notice, the contractor providing three months' written notice or by mutual written agreement. At the end of the initial term, the ICA will automatically be extended for additional one-year period(s) unless the Company provides the contractor with 30 days written notice. In March 2021, the Board of Directors authorized a monthly fee of US$15,000. On November 1, 2021, the Company entered into a letter agreement (the "LA") with a New York-based company, whereby the company will provide investor relations services to the Company. As compensation for performing these services, the Company will pay a non-refundable monthly retainer of US$5,000 and issue 2,240 shares of restricted stock in three tranches: 760 on January 1, 2022; 740 on April 1, 2022 and 740 on July 1, 2022. If the contract is terminated prior to the issuance date, the outstanding balance is not owed. The services will continue for an initial term of one year unless sooner terminated by either party giving the other 15 days written notice.

FINANCIAL INSTRUMENTS AND CAPIT

FINANCIAL INSTRUMENTS AND CAPITAL MANAGEMENT	12 Months Ended
	Sep. 30, 2023
Disclosure of detailed information about financial instruments [abstract]
FINANCIAL INSTRUMENTS AND CAPITAL MANAGEMENT [Text Block]	9. The following table summarizes the carrying value of financial assets and liabilities: September 30, 2023 September 30, 2022 FVTPL $ $ Cash 6,661,736 11,541,663 Guaranteed investment certificate 86,250 86,250 Cash and cash equivalents 6,747,986 11,627,913 Amortized cost Accounts payable and accrued liabilities 207,307 1,404,561 Fair value measurement Financial assets and liabilities that are recognized on the consolidated statement of financial position at fair value can be classified in a hierarchy that is based on the significance of the inputs used in making the measurements. The levels in the hierarchy are: Level 1 - quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 - inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices); and Level 3 - inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs). The Company's cash and cash equivalents is classified as Level 1, whereas accounts payable and accrued liabilities are classified as Level 2. As at September 30, 2023, the Company believes that the carrying values of cash and cash equivalents and accounts payable and accrued liabilities approximate their fair values because of their nature and relatively short maturity dates or durations. Financial risk management The Company is exposed in varying degrees to a variety of financial instrument related risks. The Board of Directors approves and monitors the risk management processes. The type of risk exposure and the way in which such exposure is managed is provided as follows: Credit risk Credit risk is the risk that one party to a financial instrument will fail to discharge an obligation and cause the other party to incur a financial loss. The Company's primary exposure to credit risk is on its cash and cash equivalents balance. As at September 30, 2023, the Company had cash and cash equivalents of $6,747,986 which was held with major banks in Canada, United States and Australia. Because deposits are with three banks, there is a concentration of credit risk. This risk is managed by using major banks that are high credit quality financial institutions as determined by rating agencies. The maximum exposure to credit risk is the carrying amount of the Company's financial instruments. The credit risk is assessed as low. Foreign exchange risk Foreign currency risk is the risk that the fair values of future cash flows of a financial instrument will fluctuate because they are denominated in currencies that differ from the respective functional currency. As at September, 2023, the Company had the following foreign currency balances - cash (US$677,231 and AU$602,203), receivables (AU$4,709), prepaids (US$14,783 and AU$395) and accounts payable and accrued liabilities (US$82,470, 4,150 Euros, and AU$29,087). A 10% fluctuation in the US$ and AU$ against the Canadian dollar would have an impact of approximately $132,000 on comprehensive loss. Liquidity risk Liquidity risk arises through the excess of financial obligations over available financial assets due at any point in time. The Company's objective in managing liquidity risk is to maintain sufficient readily available reserves in order to meet its liquidity requirements at any point in time. The Company's main source of funding has been the issuance of equity securities for cash, primarily through private placements. The Company's access to financing is always uncertain. There can be no assurance of continued access to significant equity funding. As at September, 2023, the Company had cash and cash equivalents of $6,747,986 to cover current liabilities of $280,856. Capital management Management's objective is to manage its capital to ensure that there are adequate capital resources to safeguard the Company's ability to continue as a going concern through the optimization of its capital structure. The capital structure consists of share capital and working capital. In order to achieve this objective, management makes adjustments to it in light of changes in economic conditions and risk characteristics of the underlying assets. To maintain or adjust the capital structure, management may invest its excess cash in interest bearing accounts of Canadian chartered banks and/or raise additional funds externally as needed. The Company is not subject to externally imposed capital requirements. The Company's management of capital did not change during the period ended September 30, 2023.

RESEARCH AND DEVELOPMENT

RESEARCH AND DEVELOPMENT	12 Months Ended
	Sep. 30, 2023
Research And Development [Abstract]
RESEARCH AND DEVELOPMENT [Text Block]	10. Research and development expense recognized in the consolidated statements of comprehensive loss is comprised of the following: For the year ended: September 30, 2023 September 30, 2022 September 30, $ $ $ Laboratory costs (see Note 11) 23,718 146,649 82,871 Novel drug development 3,961,781 8,557,000 3,638,910 Patents and related payments 92,500 73,645 513,302 Salary and subcontractors 1,317,405 2,631,884 1,369,769 Share-based compensation (see Note 6) (48,128 ) 771,760 709,136 Investment tax credits (347,332 ) - - 4,999,944 12,180,938 6,313,988 Investment tax credits under the Australian government's Research and Development Tax Incentive program have been recorded as a reduction of research and development expenses in the period received.

PREMISES LEASES

PREMISES LEASES	12 Months Ended
	Sep. 30, 2023
Presentation of leases for lessee [abstract]
PREMISES LEASES [Text Block]	11. Commencing June 1, 2021, the Company entered into a commercial laboratory lease in Wauwatosa, Wisconsin USA for a term of one year at a monthly base rent of US$1,709. For the period ended September 30, 2023, $15,170 is included in laboratory costs (see Note 10). Commencing September 1, 2021, the Company entered into an apartment lease in New York, New York USA for a term of one year at a monthly base rent of US$5,300. Commencing September 1, 2022, the Company extended the lease for a term of two years at a monthly base rent of US$5,510 for the first year and US$5,630 for the second year of the lease. (a) Right-of-Use Assets As at September 30, 2023, $66,413 of right-of-use assets are recorded as follows: 2023 As at September 30, 2021 $ - Inception of lease 144,900 Depreciation (6,037 ) As at September 30, 2022 $ 138,863 Depreciation (72,450 ) As at September 30, 2023 $ 66,413 (b) Lease Liabilities Minimum lease payments in respect of lease liabilities and the effect of discounting are as follows: Year ended Year ended Undiscounted minimum lease payments: Less than one year $ 80,509 $ 86,112 Two to three years - 80,509 80,509 166,621 Effect of discounting (6,960 ) (26,710 ) Present value of minimum lease payments 73,549 139,911 Less current portion (73,549 ) (67,928 ) Long-term portion $ - $ 71,983 (c) Lease Liability Continuity The lease liability continuity is as follows: 2022 As at September 30, 2021 $ - Inception of lease 144,900 Cash flows: Principal payments (4,989 ) As at September 30, 2022 $ 139,911 Cash flows: Principal payments (66,362 ) As at September 30, 2023 $ 73,549 During the year ended September 30, 2023, interest of $19,750 and depreciation of $72,450 is included in the office and administrative expense on the consolidated statements of comprehensive loss.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Sep. 30, 2023
Major components of tax expense (income) [abstract]
INCOME TAXES [Text Block]	12. A reconciliation of the expected income tax recovery to the actual income tax recovery is as follows: September 30, 2023 September 30, September 30, $ $ $ Net loss (7,372,225 ) (14,964,941 ) (8,650,763 ) Statutory tax rate 27.74% 27.26% 27.75% Expected income tax recovery (2,044,920 ) (4,079,645 ) (2,400,311 ) Deductible and non-deductible items 201,236 21,093 (256,939 ) True up of prior year amounts 336,254 - - Change in deferred tax assets not recognized 1,507,430 4,058,552 2,657,250 Total income tax recovery - - - The Company has the following deductible temporary differences for which no deferred tax has been recognized: September 30, 2023 September 30, $ $ Non-capital losses 29,301,000 23,360,000 Share issue costs 1,225,267 1,726,000 Valuation allowance (30,526,267 ) (25,086,000 ) Net deferred income tax assets - - The Company has Canadian non-capital losses of approximately $25,650,000 (2022 - $21,545,000), US non-capital losses of $ 370,000 (2022 - $188,000) and Australian non-capital losses of $3,281,000 (2022- $1,627,000), which may be carried forward and applied against taxable income in future years. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements and have been offset by a valuation allowance. The Company's Canadian non-capital loss carry-forwards expire as follows: Year of Origin Year of Expiry Non-Capital Losses $ 2019 2039 42,000 2020 2040 298,000 2021 2041 8,096,000 2022 2042 12,832,000 2023 2043 4,382,000 25,650,000

SUBSEQUENT EVENT

SUBSEQUENT EVENT	12 Months Ended
	Sep. 30, 2023
Disclosure of non-adjusting events after reporting period [abstract]
SUBSEQUENT EVENT [Text Block]	13. On December 22, 2023, the Company issued 661,765 Units of the Company at a price per unit of $1.36 for aggregate gross proceeds of $900,000. Each Unit is comprised of one common share and one common share purchase warrant of the Company. Each Warrant is exercisable to acquire one common share of the Company at an exercise price of $1.70 per share until December 22, 2028. On December 13, 2023, 30,000 of the RSUs were exercised by an officer of the Company.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Sep. 30, 2023
Disclosure Of Detailed Information About Significant Accounting Policies [Abstract]
Basis of consolidation [Policy Text Block]	Basis of consolidation These consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries Bright Minds Biosciences LLC, a Delaware limited liability company, and Bright Minds Bioscience Pty Ltd., a proprietary company registered under the Corporations Act of Australia on June 24, 2021. On June 10, 2021, the CEO (the "Chief Executive Officer") of the Company transferred, assigned and conveyed all of his membership interests in Bright Minds Biosciences LLC to the Company. A subsidiary is an entity that the Company controls, either directly or indirectly, where control is defined as the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. The financial results of the Company's subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases. The accounting policies of the Company's subsidiaries have been aligned with the policies adopted by the Company. When the Company ceases to control a subsidiary, the financial statements of that subsidiary are de-consolidated. Inter-company balances and transactions, and any income and expenses arising from inter-company transactions, have been eliminated in these consolidated financial statements.
Critical accounting estimates [Policy Text Block]	Critical accounting estimates The preparation of the consolidated financial statements in conformity with IFRS requires management to make estimates, judgments and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. Certain of the Company's accounting policies and disclosures require key assumptions concerning the future and other estimates that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities or disclosures within the next fiscal year. Where applicable, further information about the assumptions made is disclosed in the notes specific to that asset or liability. The critical accounting estimates and judgments set out below have been applied consistently to all periods presented in these consolidated financial statements. Ability to continue as a going concern Evaluation of the ability of the Company to realize its strategy for funding its future needs for working capital involves making judgments. Share-based compensation The fair value of stock options is measured using a Black Scholes option pricing model. Measurement inputs include the common share price on the grant date, the exercise price of the instrument, the expected common share price volatility, the weighted average expected life of the instruments, the expected dividends and the risk-free interest rate. Service and non-market performance conditions are not taken into account in determining fair value. The fair value of equity settled RSUs is measured based on management's best estimate of the Company's share price on the grant date. The share-based compensation recognized is also determined based on management's grant date estimate of the forfeitures that are expected to occur over the life of the stock options and equity settled RSUs. Cash settled RSUs outstanding are fair valued using a mark-to-market calculation based on the Company's closing common share price at the end of the period. The number of stock options and RSUs that actually vest could differ from the estimated number of awards expected to vest and any differences between the actual and estimated forfeitures are recognized prospectively as they occur.
Foreign currency translation [Policy Text Block]	Foreign currency translation The functional currency of the Company, Bright Minds Biosciences LLC and Bright Minds Bioscience Pty Ltd. is the Canadian dollar and the presentation currency of the Company is the Canadian dollar. Transactions in currencies other than the functional currency are recorded at the rates of exchange prevailing on the transaction date. Monetary assets and liabilities that are denominated in foreign currencies are translated at the rates prevailing at each reporting date. Non-monetary assets and liabilities denominated in foreign currencies that are measured at fair value are retranslated to the functional currency at the exchange rate at the date the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated. Foreign currency translation differences are recognized in profit or loss.
Business combinations [Policy Text Block]	Business combinations The Company uses the acquisition method to account for business combinations. The Company measures goodwill as the fair value of the consideration transferred, less the net recognized amount (generally fair value) of the identifiable assets acquired and liabilities assumed, all measured as of the acquisition date. When the excess is negative, a gain on acquisition is recognized immediately in net income or loss. Goodwill is not amortized and is tested for impairment annually. Additionally, goodwill is reviewed at each reporting date to determine if events or changes in circumstances indicate that the asset might be impaired, in which case an impairment test is performed. Goodwill is measured at cost less accumulated impairment losses. Transaction costs, other than those associated with the issue of debt or equity securities, that the Company incurs in connection with a business combination are expensed as incurred.
Internally generated intangible assets - Research and development expenditure [Policy Text Block]	Internally generated intangible assets - Research and development expenditure Intangible assets acquired separately are initially recognized at cost. Expenditure on research activities is recognized as an expense in the period in which it is incurred. An internally generated intangible asset arising from development (or from the development phase of an internal project) is recognized if, and only if, all of the following have been demonstrated: • • • • • • The amount initially recognized for internally-generated intangible assets is the sum of the expenditures incurred from the date when the intangible asset first meets the recognition criteria listed above. Where no internally-generated intangible asset can be recognized, development expenditure is recognized in profit or loss in the period in which it is incurred. Subsequent to initial recognition, internally-generated intangible assets are reported at cost less accumulated amortization and accumulated impairment losses, on the same basis as intangible assets that are acquired separately. At September 30, 2023 and 2022, the Company has not recognized any internally-generated intangible assets.
Share-based compensation awards [Policy Text Block]	Share-based compensation awards Share-based compensation expense relates to stock options as well as cash and equity settled restricted share units ("RSUs"). The grant date fair values of stock options and equity settled RSUs granted are recognized as an expense, with a corresponding increase in reserves in equity, over the vesting period. The amount recognized as an expense is based on the estimate of the number of awards expected to vest, which is revised if subsequent information indicates that actual forfeitures are likely to differ from the estimate. Upon exercise of stock options, the consideration paid by the holder is included in share capital and the related reserves associated with the stock options exercised is reclassified into share capital. Upon vesting of equity settled RSUs, the related reserves associated with the RSU is reclassified into share capital. For cash settled RSUs, the fair value of the RSUs is recognized as share-based compensation expense, with a corresponding increase in accrued liabilities over the vesting period. The amount recognized as an expense is based on the estimate of the number of RSUs expected to vest. Cash settled RSUs are measured at their fair value at each reporting period on a mark-to-market basis. Upon vesting of the cash settled RSUs, the liability is reduced by the cash payout.
Provisions [Policy Text Block]	Provisions A provision is recognized if, as a result of a past event, the Company has a present legal or constructive obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognized as a finance cost within net income or loss.
Income taxes [Policy Text Block]	Income taxes Current income tax: Current income tax assets and liabilities for the current period are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date, in the countries where the Company operates and generates taxable income. Deferred tax: Deferred tax is provided on temporary differences at the reporting date between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and recognized only to the extent that it is probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current income tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.
Loss per share [Policy Text Block]	Loss per share Basic loss per share is calculated by dividing the loss attributable to common shareholders by the weighted average number of common shares outstanding in the period. The loss attributable to common shareholders equals the reported loss attributable to owners of the Company. Diluted loss per share is calculated using the treasury stock method. Under the treasury stock method, the weighted average number of common shares outstanding for the calculation of diluted loss per share assumes that the proceeds to be received on the exercise of dilutive share options and warrants are used to repurchase common shares at the average market price during the period. Because the Company incurred net losses, the effect of dilutive instruments would be anti-dilutive and therefore diluted loss per share equals loss per share.
Share capital [Policy Text Block]	Share capital Financial instruments issued by the Company are classified as equity only to the extent that they do not meet the definition of a financial liability or financial asset. The Company's common shares are classified as equity instruments. Incremental costs directly attributable to the issue of new common shares are recognized as a deduction from equity, net of tax.
Investment tax credits [Policy Text Block]	Investment tax credits Investment tax credits under the Australian government's Research and Development Tax Incentive program are recorded using the cost reduction approach based on IAS 20, Accounting for Government Grants and Disclosure of Government Assistance. Investment tax credits related to current research and development expenses are included in the consolidated statements of comprehensive loss as a reduction of expenses. Investment tax credits arising on qualified expenditures are recognized when there is reasonable assurance that the credits will be realized. The investment tax credits are subject to audit by taxation authorities and the actual amount may change depending on the outcome of an audit.
Financial instruments [Policy Text Block]	Financial instruments Financial instruments are accounted for in accordance with IFRS 9, "Financial Instruments: Classification and Measurement". A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. Financial assets (a) Recognition and measurement of financial assets The Company recognizes a financial asset when it becomes a party to the contractual provisions of the instrument. (b) Classification of financial assets The Company classifies financial assets at initial recognition as financial assets: measured at amortized cost, measured at fair value through other comprehensive income ("FVTOCI") or measured at fair value through profit or loss ("FVTPL"). (i) Financial assets measured at amortized cost A financial asset that meets both of the following conditions is classified as a financial asset measured at amortized cost: • The Company's business model for such financial assets is to hold the assets in order to collect contractual cash flows. • The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the amount outstanding. A financial asset measured at amortized cost is initially recognized at fair value plus transaction costs directly attributable to the asset. After initial recognition, the carrying amount of the financial asset measured at amortized cost is determined using the effective interest method, net of impairment loss, if necessary. (ii) Financial assets measured at FVTOCI A financial asset measured at FVOCI is recognized initially at fair value plus transaction costs directly attributable to the asset. After initial recognition, the asset is measured at fair value with changes in fair value included as "financial asset at fair value through other comprehensive income" in other comprehensive income or loss. (iii) Financial assets measured at FVTPL A financial asset measured at FVTPL is initially recognized at fair value with any associated transaction costs being recognized in profit or loss when incurred. Subsequently, the financial asset is re-measured at fair value and a gain or loss is recognized in profit or loss in the reporting period in which it arises. The Company's cash and cash equivalents are classified as subsequently measured at FVTPL. (c) Derecognition of financial assets The Company derecognizes a financial asset if the contractual rights to the cash flows from the asset expire, or the Company transfers substantially all the risks and rewards of ownership of the financial asset. Any interests in transferred financial assets that are created or retained by the Company are recognized as a separate asset or liability. Gains and losses on derecognition are generally recognized in the consolidated statement of comprehensive loss. However, gains and losses on derecognition of financial assets classified as FVTOCI remain within accumulated other comprehensive income or loss. Financial liabilities (a) Recognition and measurement of financial liabilities The Company recognizes a financial liability when it becomes a party to the contractual provisions of the instrument. (b) Classification of financial liabilities (i) Financial liabilities measured at amortized cost A financial liability measured at amortized cost is initially measured at fair value less transaction costs directly attributable to the issuance of the financial liability. Subsequently, the financial liability is measured at amortized cost using the effective interest method. The Company's accounts payable and accrued liabilities are classified as subsequently measured at amortized cost. (ii) Financial liabilities measured at fair value through profit or loss A financial liability measured at fair value through profit or loss is initially measured at fair value with any associated transaction costs being recognized in profit or loss when incurred. Subsequently, the financial liability is re-measured at fair value and a gain or loss is recognized in profit or loss in the reporting period in which it arises. (c) Derecognition of financial liabilities The Company derecognizes a financial liability when the financial liability is discharged, cancelled or expired. Generally, the difference between the carrying amount of the financial liability derecognized and the consideration paid and payable, including any non-cash assets transferred or liabilities assumed, is recognized in the consolidated statement of comprehensive loss. Offsetting financial assets and liabilities Financial assets and liabilities are offset and the net amount is presented in the consolidated statement of financial position only when the Company has a legally enforceable right to offset the recognized amounts and intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously. Impairment of financial assets The Company recognizes a loss allowance for expected credit losses on financial assets that are measured at amortized cost. At each reporting date, the Company measures the loss allowance for the financial asset at an amount equal to the lifetime expected credit losses if the credit risk on the financial asset has increased significantly since initial recognition. If at the reporting date, the financial asset has not increased significantly since initial recognition, the Company measures the loss allowance for the financial asset at an amount equal to the twelve-month expected credit losses. The Company recognizes in the consolidated statement of comprehensive income or loss, as an impairment loss (or gain), the amount of expected credit losses (or reversal) that is required to adjust the loss allowance at the reporting date to the amount that is required to be recognized.
Leases [Policy Text Block]	Leases Leases are accounted for in accordance with IFRS 16, "Leases". At inception of a contract, the Company assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset over a period of time in exchange for consideration. The Company assesses whether the contract involves the use of an identified asset, whether it has the right to obtain substantially all of the economic benefits from the use of the asset during the term of the contract and if it has the right to direct the use of the asset. As a lessee, the Company recognizes a right-of-use asset and a lease liability at the commencement date of the lease. Right-of-use asset The right-of-use asset is initially measured at cost, which is comprised of the initial amount of the lease liability adjusted for any lease payments made and any initial direct costs incurred at or before the commencement date, less any lease incentives received. The right-of-use asset is subsequently depreciated from the commencement date to the earlier of the end of the lease term, or the end of the useful life of the asset. In addition, the right-of-use asset may be reduced due to impairment losses, if any, and adjusted for certain re-measurements of the lease liability. Lease liability A lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date discounted by the interest rate implicit in the lease or, if that rate cannot be readily determined, the incremental borrowing rate. The lease liability is subsequently measured at amortized cost using the effective interest method.
New standards and interpretations not yet adopted [Policy Text Block]	New standards and interpretations not yet adopted A number of new standards, amendments to standards and interpretations are not yet effective for the year ended September 30, 2023 and have not been applied in preparing these consolidated financial statements. The following new standards have not been adopted which may impact the Company in future: IAS 1 - Presentation of Financial Statements An amendment to IAS 1 clarifies the criterion for classifying a liability as non-current relating to the right to defer settlement of a liability for at least 12 months after the reporting period. IAS 1 has amended the definition of material to "information is material if omitting, misstating or obscuring it could reasonably be expected to influence decisions that the primary users of general-purpose financial statements make on the basis of those financial statements, which provide financial information about a specific reporting entity." The previous definition of material from IAS1 was "omissions or misstatements of items are material if they could, individually or collectively, influence the economic decisions that users make on the basis of the financial statements. Materiality depends on the size and nature of the omission or misstatement judged in the surrounding circumstances. The size or nature of the item, or a combination of both, could be the determining factor." IAS 8 - Accounting Policies, Changes in Accounting Estimates and Errors IAS 8 amended the definition of material reflect the changes outlined above under IAS 1. IAS 12 and IFRIC 23 - Income Taxes IAS 12 currently provides guidance on current and deferred tax assets and liabilities however uncertainty may exist on how tax law applies to certain transactions. IFRIC 23 provides guidance on how to address uncertainty related to tax treatments.

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	12 Months Ended
	Sep. 30, 2023
Trade and other current payables [abstract]
Disclosure of accounts payable and accrued liabilities [Table Text Block]	September 30, 2023 September 30, 2022 $ $ Accounts payable 182,307 1,246,384 Accrued liabilities 25,000 158,177 Total accounts payable and accrued liabilities 207,307 1,404,561

SHARE CAPITAL (Tables)

SHARE CAPITAL (Tables)	12 Months Ended
	Sep. 30, 2023
Disclosure of classes of share capital [abstract]
Disclosure of number and weighted average exercise prices of share options [Table Text Block]	Number of options Weighted average exercise price Balance at September 30, 2021 205,161 $ 19.50 Granted 16,000 $ 12.30 Forfeited (38,000 ) $ 22.95 Balance at September 30, 2022 183,161 $ 18.20 Granted 107,000 $ 6.93 Cancelled (1) , (2) (78,000 ) $ 20.52 Balance at September 30, 2023 212,161 $ 11.65
Disclosure of number of issued and outstanding stock options [Table Text Block]	Options Outstanding and Exercisable Expiry Date Number of Exercisable Exercise price Remaining life September 21, 2024 1,761 1,761 $ 38.20 0.98 November 17, 2025 71,400 48,133 $ 6.25 2.13 April 28, 2026 (2) 16,000 8,000 $ 38.00 2.58 June 15, 2026 16,000 8,000 $ 38.00 2.71 December 1, 2027 60,000 - $ 8.25 4.17 February 16, 2028 47,000 - $ 5.25 4.38
Disclosure of number and weighted average exercise prices of restricted share units [Table Text Block]	Equity settled Cash settled Total Weighted average Balance at September 30, 2020 and 2021 76,000 - 76,000 $ 6.25 Granted 32,000 - 32,000 $ 29.55 Balance at September 30, 2022 108,000 - 108,000 $ 13.15 Granted 220,000 - 220,000 $ 7.75 Exercised (30,000 ) - (30,000 ) $ 7.75 Forfeited* (76,000 ) - (76,000 ) $ 6.25 Balance at September 30, 2023 222,000 - 222,000 $ 10.89
Disclosure of number of outstanding and exercisable restricted share units [Table Text Block]	RSUs Outstanding and Exercisable Expiry Date Number of RSUs Exercisable Exercise price Remaining life February 1, 2027 5,000 1,250 $ 15.25 3.34 February 1, 2027 7,000 1,750 $ 15.00 3.34 April 27, 2027 20,000 5,000 $ 38.20 3.58 December 1, 2027 190,000 25,000 $ 7.75 4.17
Disclosure of share based payments recognized in the consolidated statements of comprehensive loss [Table Text Block]	For the year ended: September 30, 2023 September 30, September 30, $ $ $ Stock options 50,350 643,911 643,963 Restricted share units - equity settled grants 1,101,781 231,145 236,652 Total equity settled share-based compensation expense 1,152,131 875,056 880,615 Restricted share units - cash settled grants - - - Total share-based compensation expense 1,152,131 875,056 880,615
Disclosure of share based payments included in the consolidated statements of comprehensive loss [Table Text Block]	For the year ended: September 30, 2023 September 30, September 30, $ $ $ Consulting fees 43,736 3,858 8,045 Directors' compensation 1,156,523 99,438 136,612 Marketing, advertising and investor relations - - 3,696 Professional fees - - 23,126 Research and development (48,128 ) 771,760 709,136 Total share-based compensation expense 1,152,131 875,056 880,615
Disclosure of number and weighted average exercise prices of warrants [Table Text Block]	Number of warrants Weighted average exercise price Balance at September 30, 2021 794,840 $ 21.75 Issued 616,640 8.80 Issued - compensation warrants 45,040 7.00 Exercised (575,000 ) 3.40 Balance at September 30, 2022 881,520 $ 23.89 Issued 194,800 6.75 Exercised (28,800 ) 8.80 Balance at September 30, 2023 1,047,520 $ 21.12
Disclosure of number of outstanding warrants [Table Text Block]	Warrants Outstanding Expiry Date Number of Exercise price Remaining life July 30, 2024 (1) 62,960 $ 0.25 0.83 March 17, 2024 339,488 $ 47.30 0.46 March 17, 2024 26,533 $ 37.85 0.46 August 30, 2024 378,700 $ 8.80 0.92 August 30, 2024 26,808 $ 8.80 0.92 August 30, 2024 18,232 $ 8.80 0.92 December 2, 2024 194,800 $ 6.75 1.18

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Sep. 30, 2023
Disclosure of transactions between related parties [abstract]
Disclosure of expenses related to key management personnel [Table Text Block]	For the year ended: September 30, 2023 September 30, September 30, $ $ Professional fees 120,000 144,000 87,074 Research and development 575,396 572,700 772,596 Consulting fees - 174,215 - Share-based compensation included in directors' compensation 1,156,523 99,438 136,612 Share-based compensation included in professional fees - - 23,126 Share-based compensation included in research and development 32,390 123,052 236,652 1,884,309 1,113,405 1,256,060

FINANCIAL INSTRUMENTS AND CAP_2

FINANCIAL INSTRUMENTS AND CAPITAL MANAGEMENT (Tables)	12 Months Ended
	Sep. 30, 2023
Disclosure of detailed information about financial instruments [abstract]
Disclosure of carrying value of financial assets and liabilities [Table Text Block]	September 30, 2023 September 30, 2022 FVTPL $ $ Cash 6,661,736 11,541,663 Guaranteed investment certificate 86,250 86,250 Cash and cash equivalents 6,747,986 11,627,913 Amortized cost Accounts payable and accrued liabilities 207,307 1,404,561

RESEARCH AND DEVELOPMENT (Table

RESEARCH AND DEVELOPMENT (Tables)	12 Months Ended
	Sep. 30, 2023
Research And Development [Abstract]
Disclosure of research and development expenses [Table Text Block]	For the year ended: September 30, 2023 September 30, 2022 September 30, $ $ $ Laboratory costs (see Note 11) 23,718 146,649 82,871 Novel drug development 3,961,781 8,557,000 3,638,910 Patents and related payments 92,500 73,645 513,302 Salary and subcontractors 1,317,405 2,631,884 1,369,769 Share-based compensation (see Note 6) (48,128 ) 771,760 709,136 Investment tax credits (347,332 ) - - 4,999,944 12,180,938 6,313,988

PREMISES LEASES (Tables)

PREMISES LEASES (Tables)	12 Months Ended
	Sep. 30, 2023
Presentation of leases for lessee [abstract]
Disclosure of right-of-use assets [Table Text Block]	2023 As at September 30, 2021 $ - Inception of lease 144,900 Depreciation (6,037 ) As at September 30, 2022 $ 138,863 Depreciation (72,450 ) As at September 30, 2023 $ 66,413
Disclosure of minimum lease payments in respect of lease liabilities [Table Text Block]	Year ended Year ended Undiscounted minimum lease payments: Less than one year $ 80,509 $ 86,112 Two to three years - 80,509 80,509 166,621 Effect of discounting (6,960 ) (26,710 ) Present value of minimum lease payments 73,549 139,911 Less current portion (73,549 ) (67,928 ) Long-term portion $ - $ 71,983
Disclosure of lease liability continuity [Table Text Block]	2022 As at September 30, 2021 $ - Inception of lease 144,900 Cash flows: Principal payments (4,989 ) As at September 30, 2022 $ 139,911 Cash flows: Principal payments (66,362 ) As at September 30, 2023 $ 73,549

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Sep. 30, 2023
Major components of tax expense (income) [abstract]
Disclosure of reconciliation of the expected income tax recovery to the actual income tax recovery [Table Text Block]	September 30, 2023 September 30, September 30, $ $ $ Net loss (7,372,225 ) (14,964,941 ) (8,650,763 ) Statutory tax rate 27.74% 27.26% 27.75% Expected income tax recovery (2,044,920 ) (4,079,645 ) (2,400,311 ) Deductible and non-deductible items 201,236 21,093 (256,939 ) True up of prior year amounts 336,254 - - Change in deferred tax assets not recognized 1,507,430 4,058,552 2,657,250 Total income tax recovery - - -
Disclosure of deductible temporary differences for which no deferred tax has been recognized [Table Text Block]	September 30, 2023 September 30, $ $ Non-capital losses 29,301,000 23,360,000 Share issue costs 1,225,267 1,726,000 Valuation allowance (30,526,267 ) (25,086,000 ) Net deferred income tax assets - -
Disclosure of non-capital loss carry-forwards expiry [Table Text Block]	Year of Origin Year of Expiry Non-Capital Losses $ 2019 2039 42,000 2020 2040 298,000 2021 2041 8,096,000 2022 2042 12,832,000 2023 2043 4,382,000 25,650,000

NATURE AND CONTINUANCE OF OPE_2

NATURE AND CONTINUANCE OF OPERATIONS (Narrative) (Details) - CAD ($)		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Nature And Continuance Of Operations [Abstract]
Net loss	$ (7,372,225)	$ (7,372,225)	$ (14,964,941)	$ (8,650,763)
Deficit		(31,547,023)	(24,174,798)
Working capital		$ 6,531,803	$ 10,475,632

INTANGIBLE ASSETS (Narrative)

INTANGIBLE ASSETS (Narrative) (Details) - PsilocybinLabs Ltd [Member]	Aug. 07, 2019 CAD ($) Shares shares	Apr. 25, 2019 CAD ($) shares
Share Exchange And Assignment [Line Items]
Number of shares issued by PL to individual | shares		100,000
Value of common stock issued by PL to individual | $		$ 2,000
Common shares purchased | shares	100,000
Number of shares issued | Shares	20,000
Value of common stock shares issued | $	$ 2,000

ACCOUNTS PAYABLE AND ACCRUED _3

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES - Disclosure of accounts payable and accrued liabilities (Details) - CAD ($)	Sep. 30, 2023	Sep. 30, 2022
Trade and other current payables [abstract]
Accounts payable	$ 182,307	$ 1,246,384
Accrued liabilities	25,000	158,177
Total accounts payable and accrued liabilities	$ 207,307	$ 1,404,561

SHARE CAPITAL (Narrative) (Deta

SHARE CAPITAL (Narrative) (Details)

1 Months Ended

12 Months Ended

Dec. 22, 2023 CAD ($) $ / shares $ / Shares shares

Jul. 14, 2023

Mar. 10, 2023 CAD ($) shares

Feb. 16, 2023 Shares Year $ / shares

Dec. 02, 2022 CAD ($) $ / shares $ / Shares shares

Dec. 01, 2022 CAD ($) Shares Year $ / shares shares

Sep. 06, 2022 shares Year $ / shares

Apr. 27, 2022 CAD ($)

Apr. 11, 2022 CAD ($) $ / shares shares

Apr. 11, 2022 USD ($) shares

Feb. 11, 2022 CAD ($)

Apr. 28, 2021 CAD ($) $ / shares shares

Apr. 23, 2021 CAD ($) $ / shares shares

Apr. 06, 2021 CAD ($) $ / shares shares

Feb. 03, 2021 shares

Jan. 28, 2021 shares

Jan. 06, 2021 CAD ($) $ / shares shares

Nov. 02, 2020 CAD ($) $ / shares shares

Nov. 23, 2022 Shares

Sep. 30, 2022 CAD ($) $ / shares shares

Aug. 30, 2022 CAD ($) Year $ / shares $ / Shares shares

Jun. 15, 2021

Mar. 17, 2021 CAD ($) Year $ / shares $ / Shares shares

Sep. 30, 2023 CAD ($) shares Shares $ / shares

Sep. 30, 2022 CAD ($) shares $ / shares

Sep. 30, 2021 CAD ($) $ / shares

Feb. 04, 2022 CAD ($)

Disclosure of classes of share capital [line items]

Description of issued and outstanding common shares

On July 14, 2023, the Directors of the Company approved the consolidation of the Company's issued and outstanding common shares on a 5:1 basis.

Shares issued to a consultant | $

$ 27,250

Number of units issued

571,600

683,977

Units issued, price per unit | $ / Shares

7

37.85

Gross proceeds from units issued | $

$ 4,001,200

$ 25,888,514

Exercise price, warrants granted | $ / shares

$ 8.8

$ 47.3

Underwriters fees paid | $

$ 280,084

$ 916,317

Underwriters expenses | $

176,065

Share issue costs | $

84,585

Minimum daily volume weighted average trading share price on the CSE | $ / shares

$ 66.25

Shares issued to the University (shares)

12,600

Shares issued to the University | $

$ 368,550

$ 368,550

Shares issued price per share | $ / shares

$ 29.25

Proceeds from share subscriptions | $

$ 33,684

Karl Deisseroth Agreement [Member]

Disclosure of classes of share capital [line items]

Deisseroth monthly fee | $

$ 4,166.66

Shares issued to a consultant (shares)

5,000

5,000

Shares issued to a consultant | $

$ 27,250

Shares issued price per share | $ / shares

$ 5.45

Escrow Agreement [Member]

Disclosure of classes of share capital [line items]

Number of common shares deposited to be held in escrow

570,560

144,024

Number of warrants deposited to be held in escrow

389,600

Aggregate securities deposited to be held in escrow

960,160

Escrowed securities to be released once shares are listed on Canadian Stock Exchange

96,016

Escrowed securities to be released after listing date

144,024

Subsequent events [Member]

Disclosure of classes of share capital [line items]

Warrants issued, price per warrant | $ / shares

$ 1.7

Number of units issued

661,765

Units issued, price per unit | $ / Shares

1.36

Gross proceeds from warrants exercised | $

$ 900,000

Chief Medical Officer [Member]

Disclosure of classes of share capital [line items]

Number of options granted | Shares

60,000

Weighted average exercise price of options granted | $ / shares

$ 8.25

Exercise price, share options granted | $ / shares

8.25

Share price, stock options granted | $ / shares

$ 7.75

Option life, stock options granted | Year

5

Volatility rate, stock options granted

141.61%

Discount rate, stock options granted

3.05%

Chief Medical Officer [Member] | On the first anniversary of the grant date [Member]

Disclosure of classes of share capital [line items]

Vesting percentage

25%

Chief Medical Officer [Member] | On the second anniversary of the grant date [Member]

Disclosure of classes of share capital [line items]

Vesting percentage

25%

Chief Medical Officer [Member] | On the third anniversary of the grant date [Member]

Disclosure of classes of share capital [line items]

Vesting percentage

25%

Chief Medical Officer [Member] | On the fourth anniversary of the grant date [Member]

Disclosure of classes of share capital [line items]

Vesting percentage

25%

Advisor [Member]

Disclosure of classes of share capital [line items]

Underwriters fees paid | $

$ 259,245

Consultant [Member]

Disclosure of classes of share capital [line items]

Number of options cancelled | Shares

16,000

Options were cancelled on retirement

16,000

Consultant [Member] | Debt Settlement Agreement [Member]

Disclosure of classes of share capital [line items]

Number of shares issued during period

2,960

Debt settled through issuance of shares | $

$ 18,500

Shares issued price per share | $ / shares

$ 6.25

Three Investors [Member]

Disclosure of classes of share capital [line items]

Proceeds from issue of ordinary shares | $

$ 13,333,333

Contingent cash fee | $

$ 600,000

Percentage of equity proceeds received from three investors

4.50%

Director and Consultant [Member]

Disclosure of classes of share capital [line items]

Number of options granted | Shares

47,000

Weighted average exercise price of options granted | $ / shares

$ 5.25

Exercise price, share options granted | $ / shares

5.25

Share price, stock options granted | $ / shares

$ 4.85

Option life, stock options granted | Year

5

Volatility rate, stock options granted

135.92%

Discount rate, stock options granted

3.45%

Director and Consultant [Member] | On the first anniversary of the grant date [Member]

Disclosure of classes of share capital [line items]

Vesting percentage

25%

Director and Consultant [Member] | On the second anniversary of the grant date [Member]

Disclosure of classes of share capital [line items]

Vesting percentage

25%

Director and Consultant [Member] | On the third anniversary of the grant date [Member]

Disclosure of classes of share capital [line items]

Vesting percentage

25%

Director and Consultant [Member] | On the fourth anniversary of the grant date [Member]

Disclosure of classes of share capital [line items]

Vesting percentage

25%

Warrants [Member]

Disclosure of classes of share capital [line items]

Issued - compensation warrants

45,040

Proceeds from issue of ordinary shares | $

$ 253,440

Number of warrants, Issued

133,200

26,808

194,800

616,640

Warrants issued, price per warrant | $ / shares

$ 6.245

Number of units issued

194,800

Units issued, price per unit | $ / Shares

6.25

Exercise price, warrants granted | $ / shares

$ 7

Average exercise price of warrants issued | $ / shares

$ 6.75

$ 8.8

Warrants exercise price | $ / shares

$ 23.89

$ 21.12

$ 23.89

$ 21.75

Number of warrants exercised

28,800

575,000

Warrants exercised (shares)

28,800

529,960

Gross proceeds from warrants exercised | $

$ 1,653,170

Weighted average remaining contractual life of outstanding warrants

9 months 18 days

1 year 8 months 19 days

Threshold percentage of warrants

4.99%

Aggregate gross proceeds | $

$ 2,049,334

Description of warrants

Each PFW is exercisable into one Unit at an exercise price of $0.005 per Unit on the date that is the earlier of (a) the date the holder thereof elects to exercise the PFWs and pays the exercise price, and (b) December 2, 2024. Each Unit is comprised of one common share and one common share purchase warrant ("Warrant") of the Company. Each Warrant is exercisable to acquire one common share of the Company at an exercise price of $6.75 per share until December 2, 2024.

Fair value of pre-funded warrants | $

$ 831,834

Warrants [Member] | Warrant exercise price one [Member]

Disclosure of classes of share capital [line items]

Exercise price of warrants exercised | $ / shares

$ 0.25

Warrants [Member] | Warrant exercise price two [Member]

Disclosure of classes of share capital [line items]

Exercise price of warrants exercised | $ / shares

8.8

Warrants [Member] | Warrant exercise price three [Member]

Disclosure of classes of share capital [line items]

Exercise price of warrants exercised | $ / shares

$ 47.3

Compensation warrants [Member]

Disclosure of classes of share capital [line items]

Compensation warrant exercise proceeds | $

$ 315,277

Reserves to share capital | $

$ 531,000

Number of warrants, Issued

1,761

45,040

Exercise price, warrants granted | $ / shares

$ 37.85

$ 7

Number of warrants exercised

45,040

Term of warrant

5 years

Fair value of share purchase warrants

315,000

Share price, warrants granted | $ / shares

$ 14.65

Estimated life, warrants granted | Year

2

Expected volatility, warrants granted

147.31%

Discount rate, warrants granted

3.63%

Compensation warrants [Member] | Advisor [Member]

Disclosure of classes of share capital [line items]

Number of warrants, Issued

18,232

Exercise price, warrants granted | $ / shares

$ 7

Compensation warrants [Member] | Underwriters [Member]

Disclosure of classes of share capital [line items]

Number of warrants, Issued

26,533

Exercise price, warrants granted | $ / shares

$ 37.85

Warrant ascribed value | $

$ 521,000

Fair value of share purchase warrants

521,000

Share price, warrants granted | $ / shares

$ 33.25

Estimated life, warrants granted | Year

3

Expected volatility, warrants granted

100%

Discount rate, warrants granted

0.35%

Second tranche of a non-brokered private placement [Member]

Disclosure of classes of share capital [line items]

Number of shares issued during period

325,828

Proceeds from issue of ordinary shares | $

$ 2,036,422

Shares issued price per share | $ / shares

$ 6.25

Special Warrants [Member]

Disclosure of classes of share capital [line items]

Number of shares issued

3,200

Number of warrants deemed to be exercised

3,200

Escrowed share purchase warrants [Member]

Disclosure of classes of share capital [line items]

Number of warrants exercised

389,600

Exercise price of warrants exercised | $ / shares

$ 0.25

Gross proceeds from warrants exercised | $

$ 97,400

Stock Options [Member]

Disclosure of classes of share capital [line items]

Percentage of outstanding shares authorized under stock option plan

10%

Number of options granted

107,000

16,000

Weighted average exercise price of options granted | $ / shares

$ 6.93

$ 12.3

Number of options cancelled

78,000

38,000

Weighted average remaining contractual life of outstanding share options

3 years 3 months 10 days

3 years 4 months 20 days

Stock Options [Member] | Director [Member]

Disclosure of classes of share capital [line items]

Weighted average exercise price of options granted | $ / shares

$ 12.3

Stock Options [Member] | Director [Member]

Disclosure of classes of share capital [line items]

Number of options granted

16,000

Exercise price, share options granted | $ / shares

$ 12.3

Share price, stock options granted | $ / shares

$ 12

Option life, stock options granted | Year

5

Volatility rate, stock options granted

147.31%

Discount rate, stock options granted

3.33%

Number of options cancelled | Shares

16,000

Stock Options [Member] | Director [Member] | On the grant date [Member]

Disclosure of classes of share capital [line items]

Vesting percentage

25%

Stock Options [Member] | Director [Member] | On the first anniversary of the grant date [Member]

Disclosure of classes of share capital [line items]

Vesting percentage

25%

Stock Options [Member] | Director [Member] | On the second anniversary of the grant date [Member]

Disclosure of classes of share capital [line items]

Vesting percentage

25%

Stock Options [Member] | Director [Member] | On the third anniversary of the grant date [Member]

Disclosure of classes of share capital [line items]

Vesting percentage

25%

Stock Options [Member] | Former Chief Medical Officer [Member]

Disclosure of classes of share capital [line items]

Number of options cancelled | Shares

30,000

Restricted Share Units [Member]

Disclosure of classes of share capital [line items]

Reserves to share capital | $

$ 232,500

Warrants exercised (shares)

30,000

Percentage of outstanding shares authorized under stock option plan

10%

Issuance of RSU | $

$ 7,000

$ 5,000

Estimated fair value of equity settled RSUs granted | $

$ 1,705,000

$ 181,250

Number of other equity instruments forfeited in share-based payment arrangement

76,000

Remaining life (Years) of RSUs

4 years 25 days

3 years 4 months 17 days

Number of shares exercised

30,000

Restricted Share Units [Member] | Director [Member]

Disclosure of classes of share capital [line items]

Issuance of RSU | $

$ 220,000

$ 20,000

Estimated fair value of equity settled RSUs granted | $

$ 127,000

Restricted Share Units [Member] | Director [Member] | On the date of grant [Member]

Disclosure of classes of share capital [line items]

Vesting percentage

25%

Restricted Share Units [Member] | Director [Member] | Each on April 27, 2024, 2025 and 2026 [Member]

Disclosure of classes of share capital [line items]

Vesting percentage

25%

Restricted Share Units [Member] | Former Chief Medical Officer [Member]

Disclosure of classes of share capital [line items]

Number of other equity instruments forfeited in share-based payment arrangement | Shares

76,000

SHARE CAPITAL - Disclosure of n

SHARE CAPITAL - Disclosure of number and weighted average exercise prices of share options (Details) - Stock Options [Member]	12 Months Ended
	Sep. 30, 2023 shares $ / shares	Sep. 30, 2022 shares $ / shares
Disclosure of classes of share capital [line items]
Number of options, Beginning Balance | shares	183,161	205,161
Number of options, Granted | shares	107,000	16,000
Number of options, Cancelled | shares	(78,000)	(38,000)
Number of options, Ending Balance | shares	212,161	183,161
Weighted average exercise price, Beginning Balance | $ / shares	$ 18.2	$ 19.5
Weighted average exercise price, Granted | $ / shares	6.93	12.3
Weighted average exercise price, Cancelled | $ / shares	20.52	22.95
Weighted average exercise price, Ending Balance | $ / shares	$ 11.65	$ 18.2

SHARE CAPITAL - Disclosure of_2

SHARE CAPITAL - Disclosure of number of issued and outstanding stock options (Details) - Stock Options [Member]	12 Months Ended
	Sep. 30, 2023 shares $ / shares	Sep. 30, 2022 shares	Sep. 30, 2021 shares
Disclosure of classes of share capital [line items]
Options Outstanding and Exercisable, Number of options	212,161	183,161	205,161
Options Outstanding and Exercisable, Remaining life (Years)	3 years 3 months 10 days	3 years 4 months 20 days
September 21, 2024 [Member]
Disclosure of classes of share capital [line items]
Options Outstanding and Exercisable, Number of options	1,761
Options Outstanding and Exercisable, Exercisable	1,761
Options Outstanding and Exercisable, Exercise price | $ / shares	$ 38.2
Options Outstanding and Exercisable, Remaining life (Years)	11 months 23 days
November 17, 2025 [Member]
Disclosure of classes of share capital [line items]
Options Outstanding and Exercisable, Number of options	71,400
Options Outstanding and Exercisable, Exercisable	48,133
Options Outstanding and Exercisable, Exercise price | $ / shares	$ 6.25
Options Outstanding and Exercisable, Remaining life (Years)	2 years 1 month 17 days
April 28, 2026 [Member]
Disclosure of classes of share capital [line items]
Options Outstanding and Exercisable, Number of options	16,000
Options Outstanding and Exercisable, Exercisable	8,000
Options Outstanding and Exercisable, Exercise price | $ / shares	$ 38
Options Outstanding and Exercisable, Remaining life (Years)	2 years 6 months 29 days
June 15, 2026 [Member]
Disclosure of classes of share capital [line items]
Options Outstanding and Exercisable, Number of options	16,000
Options Outstanding and Exercisable, Exercisable	8,000
Options Outstanding and Exercisable, Exercise price | $ / shares	$ 38
Options Outstanding and Exercisable, Remaining life (Years)	2 years 8 months 15 days
December 1, 2027 [Member]
Disclosure of classes of share capital [line items]
Options Outstanding and Exercisable, Number of options	60,000
Options Outstanding and Exercisable, Exercisable	0
Options Outstanding and Exercisable, Exercise price | $ / shares	$ 8.25
Options Outstanding and Exercisable, Remaining life (Years)	4 years 2 months 1 day
February 16, 2028 [Member]
Disclosure of classes of share capital [line items]
Options Outstanding and Exercisable, Number of options	47,000
Options Outstanding and Exercisable, Exercisable	0
Options Outstanding and Exercisable, Exercise price | $ / shares	$ 5.25
Options Outstanding and Exercisable, Remaining life (Years)	4 years 4 months 17 days

SHARE CAPITAL - Disclosure of_3

SHARE CAPITAL - Disclosure of number and weighted average exercise prices of restricted share units (Details) - Restricted Share Units [Member]	12 Months Ended
	Sep. 30, 2023 shares $ / shares	Sep. 30, 2022 shares $ / shares
Disclosure of classes of share capital [line items]
Beginning Balance	108,000	76,000
Granted	220,000	32,000
Exercised	(30,000)
Forfeited	(76,000)
Ending Balance	222,000	108,000
Weighted average exercise price of other equity instruments outstanding in share-based payment arrangement at beginning of period | $ / shares	$ 13.15	$ 6.25
Weighted average exercise price grant | $ / shares	7.75	29.55
Weighted average exercise price exercised | $ / shares	7.75
Weighted average exercise price forfeited | $ / shares	6.25
Weighted average exercise price of other equity instruments outstanding in share-based payment arrangement at end of period | $ / shares	$ 10.89	$ 13.15
Equity settled [Member]
Disclosure of classes of share capital [line items]
Beginning Balance	108,000	76,000
Granted	220,000	32,000
Exercised	(30,000)
Forfeited	(76,000)
Ending Balance	222,000	108,000
Cash settled [Member]
Disclosure of classes of share capital [line items]
Beginning Balance	0	0
Granted	0	0
Exercised	0
Forfeited	0
Ending Balance	0	0

SHARE CAPITAL - Disclosure of_4

SHARE CAPITAL - Disclosure of number of outstanding and exercisable restricted share units (Details) - Restricted Share Units [Member]	12 Months Ended
	Sep. 30, 2023 shares $ / shares	Sep. 30, 2022 shares $ / shares	Sep. 30, 2021 shares $ / shares
Disclosure of classes of share capital [line items]
Number of RSU's Outstanding	222,000	108,000	76,000
Exercise price | $ / shares	$ 10.89	$ 13.15	$ 6.25
Remaining life (Years) of RSUs	4 years 25 days	3 years 4 months 17 days
February 1, 2027 [Member]
Disclosure of classes of share capital [line items]
Number of RSU's Outstanding	5,000
Number of RSUs Exercisable	1,250
Exercise price | $ / shares	$ 15.25
Remaining life (Years) of RSUs	3 years 4 months 2 days
February 1, 2027 [Member]
Disclosure of classes of share capital [line items]
Number of RSU's Outstanding	7,000
Number of RSUs Exercisable	1,750
Exercise price | $ / shares	$ 15
Remaining life (Years) of RSUs	3 years 4 months 2 days
April 27, 2027 [Member]
Disclosure of classes of share capital [line items]
Number of RSU's Outstanding	20,000
Number of RSUs Exercisable	5,000
Exercise price | $ / shares	$ 38.2
Remaining life (Years) of RSUs	3 years 6 months 29 days
December 1, 2027 [Member]
Disclosure of classes of share capital [line items]
Number of RSU's Outstanding	190,000
Number of RSUs Exercisable	25,000
Exercise price | $ / shares	$ 7.75
Remaining life (Years) of RSUs	4 years 2 months 1 day

SHARE CAPITAL - Disclosure of s

SHARE CAPITAL - Disclosure of share based payments recognized in the consolidated statements of comprehensive loss (Details) - CAD ($)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Disclosure of classes of share capital [line items]
Share-based compensation expense	$ 1,152,131	$ 875,056	$ 880,615
Equity settled [Member]
Disclosure of classes of share capital [line items]
Share-based compensation expense	1,152,131	875,056	880,615
Equity settled [Member] | Stock Options [Member]
Disclosure of classes of share capital [line items]
Share-based compensation expense	50,350	643,911	643,963
Equity settled [Member] | Restricted Share Units [Member]
Disclosure of classes of share capital [line items]
Share-based compensation expense	1,101,781	231,145	236,652
Cash settled [Member] | Restricted Share Units [Member]
Disclosure of classes of share capital [line items]
Share-based compensation expense	$ 0	$ 0	$ 0

SHARE CAPITAL - Disclosure of_5

SHARE CAPITAL - Disclosure of share based payments included in the consolidated statements of comprehensive loss (Details) - CAD ($)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Disclosure of classes of share capital [line items]
Share-based compensation expense	$ 1,152,131	$ 875,056	$ 880,615
Consulting fees [Member]
Disclosure of classes of share capital [line items]
Share-based compensation expense	43,736	3,858	8,045
Directors' compensation [Member]
Disclosure of classes of share capital [line items]
Share-based compensation expense	1,156,523	99,438	136,612
Marketing, advertising and investor relations [Member]
Disclosure of classes of share capital [line items]
Share-based compensation expense	0	0	3,696
Professional fees [Member]
Disclosure of classes of share capital [line items]
Share-based compensation expense	0	0	23,126
Research and development [Member]
Disclosure of classes of share capital [line items]
Share-based compensation expense	$ (48,128)	$ 771,760	$ 709,136

SHARE CAPITAL - Disclosure of

SHARE CAPITAL - Disclosure of number and weighted average exercise prices of warrants (Details) - Warrants [Member] - $ / shares		1 Months Ended	12 Months Ended
	Dec. 02, 2022	Aug. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disclosure of classes of share capital [line items]
Number of warrants, Beginning Balance			881,520	794,840
Number of warrants, Issued	133,200	26,808	194,800	616,640
Number of warrants, Issued - compensation warrants				45,040
Number of warrants, Exercised			(28,800)	(575,000)
Number of warrants, Ending Balance			1,047,520	881,520
Weighted average exercise price, Beginning Balance			$ 23.89	$ 21.75
Weighted average exercise price, Issued			6.75	8.8
Weighted average exercise price, Issued - compensation warrants				7
Weighted average exercise price, Exercised			8.8	3.4
Weighted average exercise price, Ending Balance			$ 21.12	$ 23.89

SHARE CAPITAL - Disclosure of_6

SHARE CAPITAL - Disclosure of number of outstanding warrants (Details) - Warrants [Member] - $ / shares	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Disclosure of classes of share capital [line items]
Warrants Outstanding, Number of warrants	1,047,520	881,520	794,840
July 30, 2024 [Member]
Disclosure of classes of share capital [line items]
Warrants Outstanding, Number of warrants	62,960
Warrants Outstanding, Exercise price	$ 0.25
Warrants Outstanding, Remaining life (Years)	9 months 29 days
March 17, 2024 [Member]
Disclosure of classes of share capital [line items]
Warrants Outstanding, Number of warrants	339,488
Warrants Outstanding, Exercise price	$ 47.3
Warrants Outstanding, Remaining life (Years)	5 months 15 days
March 17, 2024 [Member]
Disclosure of classes of share capital [line items]
Warrants Outstanding, Number of warrants	26,533
Warrants Outstanding, Exercise price	$ 37.85
Warrants Outstanding, Remaining life (Years)	5 months 15 days
August 30, 2024 [Member]
Disclosure of classes of share capital [line items]
Warrants Outstanding, Number of warrants	378,700
Warrants Outstanding, Exercise price	$ 8.8
Warrants Outstanding, Remaining life (Years)	11 months 1 day
August 30, 2024 [Member]
Disclosure of classes of share capital [line items]
Warrants Outstanding, Number of warrants	26,808
Warrants Outstanding, Exercise price	$ 8.8
Warrants Outstanding, Remaining life (Years)	11 months 1 day
August 30, 2024 [Member]
Disclosure of classes of share capital [line items]
Warrants Outstanding, Number of warrants	18,232
Warrants Outstanding, Exercise price	$ 8.8
Warrants Outstanding, Remaining life (Years)	11 months 1 day
December 2, 2024 [Member]
Disclosure of classes of share capital [line items]
Warrants Outstanding, Number of warrants	194,800
Warrants Outstanding, Exercise price	$ 6.75
Warrants Outstanding, Remaining life (Years)	1 year 2 months 4 days

RELATED PARTY TRANSACTIONS (Nar

RELATED PARTY TRANSACTIONS (Narrative) (Details) - CAD ($)	Sep. 30, 2023	Sep. 30, 2022
Disclosure of transactions between related parties [abstract]
Accounts payable and accrued liabilities	$ 51,480	$ 105,181

RELATED PARTY TRANSACTIONS - Di

RELATED PARTY TRANSACTIONS - Disclosure of expenses related to key management personnel (Details) - CAD ($)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Disclosure of transactions between related parties [abstract]
Professional fees	$ 120,000	$ 144,000	$ 87,074
Research and development	575,396	572,700	772,596
Consulting fees	0	174,215	0
Share-based compensation included in directors' compensation	1,156,523	99,438	136,612
Share-based compensation included in professional fees	0	0	23,126
Share-based compensation included in research and development	32,390	123,052	236,652
Total expenses related to key management personnel	$ 1,884,309	$ 1,113,405	$ 1,256,060

CONTRACTUAL OBLIGATIONS (Narrat

CONTRACTUAL OBLIGATIONS (Narrative) (Details)

1 Months Ended

5 Months Ended

12 Months Ended

Jan. 31, 2023 Shares

Dec. 01, 2022 Shares

Nov. 13, 2022 $ / shares

Nov. 13, 2022 USD ($) Shares

Apr. 11, 2022 USD ($) shares

Feb. 11, 2022 Shares

Nov. 06, 2020 USD ($)

Oct. 09, 2020 USD ($) Shares

Jun. 05, 2020 Shares

Nov. 01, 2021 USD ($) shares

Aug. 31, 2021 USD ($)

Apr. 23, 2021 CAD ($) shares

Apr. 23, 2021 USD ($) shares

Mar. 31, 2021 USD ($)

Jan. 21, 2021 Shares

Nov. 17, 2020 Shares

Apr. 28, 2021 USD ($) Shares

Sep. 30, 2023 CAD ($)

Sep. 30, 2023 USD ($)

Sep. 30, 2022 CAD ($)

Sep. 30, 2021 CAD ($)

Disclosure Of Contractual Obligation [Line Items]

Research and development expense

$ 4,999,944

$ 12,180,938

$ 6,313,988

License agreement [Member]

Disclosure Of Contractual Obligation [Line Items]

Signing fee

$ 100,000

Option fees paid

$ 15,000

Signing fee, net of option fees paid

$ 105,502

Signing fee, shares issued | shares

12,600

12,600

Percentage of royalties on net sales under $1 billion

3%

3%

Percentage of royalties on net sales over $2 billion

4.50%

4.50%

Description of sublicensee revenue of royalty payment accrues

oyalty payments being credited toward the annual minimum for the license year in which the royalty payment accrues and 12% on all non-royalty revenue until the Company has raised $7.5 million and then 10% thereafter.

oyalty payments being credited toward the annual minimum for the license year in which the royalty payment accrues and 12% on all non-royalty revenue until the Company has raised $7.5 million and then 10% thereafter.

Annual minimum royalties - Years 1 and 2

Annual minimum royalties - Year 3

5,000

Annual minimum royalties - Year 4

15,000

Annual minimum royalties - Year 5

35,000

Annual minimum royalties - Year 6 and thereafter

50,000

Annual minimum royalties after first commercial sale

250,000

Licensing agreement - prior to any sublicensing agreements, joint ventures or change of control [Member]

Disclosure Of Contractual Obligation [Line Items]

Milestone payments upon dosing first patient in Phase I trial

10,000

Milestone payments upon dosing first patient in the first Phase II trial

50,000

Milestone payments upon dosing first patient in the first Phase III trial

250,000

Milestone payments upon first commercial sale of each clinical indication

2,000,000

Licensing agreement - after any sublicensing agreements, joint ventures or change of control [Member]

Disclosure Of Contractual Obligation [Line Items]

Milestone payments upon dosing first patient in the first Phase II trial

250,000

Milestone payments upon dosing first patient in the first Phase III trial

500,000

Milestone payments upon first commercial sale of each clinical indication

$ 2,000,000

Independent Consultant Agreement [Member]

Disclosure Of Contractual Obligation [Line Items]

Number of options granted | Shares

30,000

Number of RSUs granted | Shares

76,000

Monthly fee authorized by Board of Directors

$ 25,000

$ 15,000

Independent Contractor Agreement [Member]

Disclosure Of Contractual Obligation [Line Items]

Monthly fee authorized by Board of Directors

$ 25,000

15,000

Independent contractor agreement to serve as Chief Medical Officer [Member]

Disclosure Of Contractual Obligation [Line Items]

Signing bonus of independent contractor agreement

$ 35,000

Annual fee authorized by board of directors

$ 205,000

Number of options granted | Shares

60,000

Exercise price, share options granted | $ / shares

$ 8.25

Letter agreement [Member]

Disclosure Of Contractual Obligation [Line Items]

Number of restricted stock issued for compensation | shares

2,240

Amount of non-refundable monthly retainer as service compensation

$ 5,000

Karl Deisseroth Agreement [Member]

Disclosure Of Contractual Obligation [Line Items]

Monthly fee authorized by Board of Directors

$ 4,167

Shares issued to a consultant | shares

5,000

Scientific advisory board agreements [Member]

Disclosure Of Contractual Obligation [Line Items]

Number of options granted | Shares

26,000

Number of RSUs granted | Shares

12,000

Number of options cancelled | Shares

4,000

Scientific advisory board agreements [Member] | Bottom of range [member]

Disclosure Of Contractual Obligation [Line Items]

Advisor hourly rate

$ 150

Scientific advisory board agreements [Member] | Top of range [member]

Disclosure Of Contractual Obligation [Line Items]

Advisor hourly rate

$ 160

Consulting agreements [Member]

Disclosure Of Contractual Obligation [Line Items]

Number of options granted | Shares

18,000

60,400

Number of options cancelled | Shares

32,000

32,000

Monthly fee authorized by Board of Directors

$ 15,000

Advisor hourly rate

$ 130

Research and development expense

$ 66,764

Consulting agreements [Member] | Bottom of range [member]

Disclosure Of Contractual Obligation [Line Items]

Advisor hourly rate

$ 30

$ 400

Consulting agreements [Member] | Top of range [member]

Disclosure Of Contractual Obligation [Line Items]

Advisor hourly rate

$ 600

$ 600

January 1, 2022 | Letter agreement [Member]

Disclosure Of Contractual Obligation [Line Items]

Number of restricted stock issued for compensation | shares

760

April 1, 2022 | Letter agreement [Member]

Disclosure Of Contractual Obligation [Line Items]

Number of restricted stock issued for compensation | shares

740

July 1, 2022 | Letter agreement [Member]

Disclosure Of Contractual Obligation [Line Items]

Number of restricted stock issued for compensation | shares

740

FINANCIAL INSTRUMENTS AND CAP_3

FINANCIAL INSTRUMENTS AND CAPITAL MANAGEMENT (Narrative) (Details)	Sep. 30, 2023 AUD ($)	Sep. 30, 2023 CAD ($)	Sep. 30, 2023 EUR (€)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 CAD ($)	Sep. 30, 2021 CAD ($)	Sep. 30, 2020 CAD ($)
Disclosure of detailed information about financial instruments [line items]
Cash and cash equivalents		$ 6,747,986			$ 11,627,913	$ 19,760,015	$ 799,929
Prepaids		27,692			164,429
Current liabilities		280,856			$ 1,472,489
Credit risk [Member]
Disclosure of detailed information about financial instruments [line items]
Cash and cash equivalents		$ 6,747,986
Foreign exchange risk [Member]
Disclosure of detailed information about financial instruments [line items]
Cash	$ 602,203			$ 677,231
Trade receivables	4,709
Prepaids	395			14,783
Current liabilities	$ 29,087		€ 4,150	$ 82,470
Percentage of foreign currency fluctuation in US and Australia dollar against Canadian dollar	10%	10%	10%	10%
Foreign currency fluctuation impact on net comprehensive loss		$ 132,000
Liquidity risk [Member]
Disclosure of detailed information about financial instruments [line items]
Cash and cash equivalents		6,747,986
Current liabilities		$ 280,856

FINANCIAL INSTRUMENTS AND CAP_4

FINANCIAL INSTRUMENTS AND CAPITAL MANAGEMENT - Disclosure of carrying value of financial assets and liabilities (Details) - CAD ($)	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
FVTPL
Cash and cash equivalents	$ 6,747,986	$ 11,627,913	$ 19,760,015	$ 799,929
Amortized cost
Accounts payable and accrued liabilities	207,307	1,404,561
FVTPL [Member]
FVTPL
Cash	6,661,736	11,541,663
Guaranteed investment certificate	86,250	86,250
Cash and cash equivalents	6,747,986	11,627,913
Amortized cost [Member]
Amortized cost
Accounts payable and accrued liabilities	$ 207,307	$ 1,404,561

RESEARCH AND DEVELOPMENT - Disc

RESEARCH AND DEVELOPMENT - Disclosure of research and development expense (Details) - CAD ($)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Research And Development [Line Items]
Research and development expense	$ 4,999,944	$ 12,180,938	$ 6,313,988
Laboratory costs [Member]
Research And Development [Line Items]
Research and development expense	23,718	146,649	82,871
Novel drug development [Member]
Research And Development [Line Items]
Research and development expense	3,961,781	8,557,000	3,638,910
Patents and related payments [Member]
Research And Development [Line Items]
Research and development expense	92,500	73,645	513,302
Salary and subcontractors [Member]
Research And Development [Line Items]
Research and development expense	1,317,405	2,631,884	1,369,769
Share-based compensation [Member]
Research And Development [Line Items]
Research and development expense	(48,128)	771,760	709,136
Investment tax credits [Member]
Research And Development [Line Items]
Research and development expense	$ (347,332)	$ 0	$ 0

PREMISES LEASES (Narrative) (De

PREMISES LEASES (Narrative) (Details)	1 Months Ended		4 Months Ended	12 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2023 CAD ($)	Sep. 30, 2022 CAD ($)	Sep. 30, 2021 CAD ($)
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use asset				$ 66,413	$ 138,863	$ 0
Interest expense on lease liabilities				19,750	2,173	$ 0
Depreciation				(72,450)	$ (6,037)
Commercial laboratory [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Term of lease			1 year
Monthly base rent			$ 1,709
Lease cost				$ 15,170
Apartment [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Term of lease		1 year
Monthly base rent		$ 5,300
Extended term of lease	2 years
Monthly base rent for first year	$ 5,510
Monthly base rent for second year	$ 5,630

PREMISES LEASES - Disclosure of

PREMISES LEASES - Disclosure of right-of-use assets (Details) - CAD ($)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Presentation of leases for lessee [abstract]
Beginning	$ 138,863	$ 0
Inception of lease		144,900
Depreciation	(72,450)	(6,037)
Ending	$ 66,413	$ 138,863

PREMISES LEASES - Disclosure _2

PREMISES LEASES - Disclosure of minimum lease payments in respect of lease liabilities (Details) - CAD ($)	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Disclosure of maturity analysis of finance lease payments receivable [line items]
Undiscounted minimum lease payments:	$ 80,509	$ 166,621
Effect of discounting	(6,960)	(26,710)
Present value of minimum lease payments	73,549	139,911	$ 0
Less current portion	(73,549)	(67,928)
Long-term portion	0	71,983
Less than one year [Member]
Disclosure of maturity analysis of finance lease payments receivable [line items]
Undiscounted minimum lease payments:	80,509	86,112
Two to three years [Member]
Disclosure of maturity analysis of finance lease payments receivable [line items]
Undiscounted minimum lease payments:	$ 0	$ 80,509

PREMISES LEASES - Disclosure _3

PREMISES LEASES - Disclosure of lease liability continuity (Details) - CAD ($)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Presentation of leases for lessee [abstract]
Beginning	$ 139,911	$ 0
Inception of lease		144,900
Cash flows:
Principal payments	(66,362)	(4,989)
Ending	$ 73,549	$ 139,911

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details) - CAD ($)	Sep. 30, 2023	Sep. 30, 2022
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Non-capital loss carry-forwards	$ 25,650,000
Tax authority of Canada [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Non-capital loss carry-forwards	25,650,000	$ 21,545,000
Tax authority of United States [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Non-capital loss carry-forwards	370,000	188,000
Tax authority of Australia [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Non-capital loss carry-forwards	$ 3,281,000	$ 1,627,000

INCOME TAXES - Disclosure of r

INCOME TAXES - Disclosure of reconciliation of the expected income tax recovery to the actual income tax recovery (Details) - CAD ($)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Major components of tax expense (income) [abstract]
Net loss	$ (7,372,225)	$ (14,964,941)	$ (8,650,763)
Statutory tax rate	27.74%	27.26%	27.75%
Expected income tax recovery	$ (2,044,920)	$ (4,079,645)	$ (2,400,311)
Deductible and non-deductible items	201,236	21,093	(256,939)
True up of prior year amounts	336,254	0	0
Change in deferred tax assets not recognized	1,507,430	4,058,552	2,657,250
Total income recovery	$ 0	$ 0	$ 0

INCOME TAXES - Disclosure of de

INCOME TAXES - Disclosure of deductible temporary differences for which no deferred tax has been recognized (Details) - CAD ($)	Sep. 30, 2023	Sep. 30, 2022
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Temporary differences not recognized	$ 0	$ 0
Non-capital losses [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Temporary differences not recognized	29,301,000	23,360,000
Share issue costs [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Temporary differences not recognized	1,225,267	1,726,000
Valuation allowance [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Temporary differences not recognized	$ (30,526,267)	$ (25,086,000)

INCOME TAXES - Disclosure of n

INCOME TAXES - Disclosure of non-capital loss carry-forwards expiry (Details)	12 Months Ended
	Sep. 30, 2023 CAD ($)
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Non-Capital Losses	$ 25,650,000
2019 [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Year of Expiry	2039
Non-Capital Losses	$ 42,000
2020 [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Year of Expiry	2040
Non-Capital Losses	$ 298,000
2021 [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Year of Expiry	2041
Non-Capital Losses	$ 8,096,000
2022 [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Year of Expiry	2042
Non-Capital Losses	$ 12,832,000
2023 [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Year of Expiry	2043
Non-Capital Losses	$ 4,382,000

SUBSEQUENT EVENT (Narrative) (D

SUBSEQUENT EVENT (Narrative) (Details)			1 Months Ended
	Dec. 22, 2023 CAD ($) $ / shares $ / Shares shares	Dec. 13, 2023 shares	Aug. 30, 2022 $ / Shares shares	Mar. 17, 2021 $ / Shares shares
Disclosure of non-adjusting events after reporting period [line items]
Number of units issued			571,600	683,977
Units issued, price per unit | $ / Shares			7	37.85
Subsequent event [Member]
Disclosure of non-adjusting events after reporting period [line items]
Number of units issued	661,765
Units issued, price per unit | $ / Shares	1.36
Gross proceeds from warrants exercised | $	$ 900,000
Warrants issued, price per warrant | $ / shares	$ 1.7
Subsequent event [Member] | Restricted share units [Member] | Officer [Member]
Disclosure of non-adjusting events after reporting period [line items]
Number of units issued		30,000