Annual report pursuant to Section 13 and 15(d)

Share Purchase Warrants

v3.21.2
Share Purchase Warrants
12 Months Ended
Aug. 31, 2019
Share Purchase Warrants [Abstract]  
SHARE PURCHASE WARRANTS
17. SHARE PURCHASE WARRANTS

Share purchase warrants outstanding as at August 31, 2019 are:


Expiry Date   Exercise Price     Warrants Outstanding  
September 4, 2019   US$ 0.87       287,356  
September 17, 2019   US$ 1.10       750,000  
October 12, 2019   US$ 0.86       290,500  
October 15, 2019   US$ 0.86       290,500  
November 5, 2019   CAD$ 28.35       25,327  
January 25, 2020   US$ 0.37       147,058  
February 27, 2020   US$ 0.37       135,135  
March 9, 2020   US$ 1.50       114,678  
May 22, 2020   US$ 0.28       678,571  
May 22, 2020   US$ 0.30       1,554,165  
June 7, 2020   US$ 0.525       1,190,476  
June 14, 2020   US$ 1.50       329,080  
July 5, 2020   US$ 0.35       200,000  
July 5, 2020   US$ 0.30       200,000  
July 26, 2020   US$ 1.50       1,637,160  
August 16, 2020   US$ 0.22       352,940  
August 28, 2020   US$ 0.94       1,311,242  
August 28, 2020   US$ 1.00       246,913  
August 28, 2020   US$ 1.50       35,714  
August 29, 2020   US$ 0.15       2,666,666  
September 6, 2020   US$ 1.01       925,925  
October 11, 2020   US$ 1.35       510,204  
October 11, 2020   US$ 1.50       10,204  
October 19, 2020   US$ 0.24       1,315,789  
November 7, 2020   US$ 0.61       20,408  
November 7, 2020   US$ 0.66       300,000  
November 8, 2020   US$ 1.01       918,355  
December 7, 2020   US$ 0.67       185,185  
December 7, 2020   US$ 1.50       3,188,735  
January 10, 2021   US$ 1.50       1,437,557  
January 11, 2021   US$ 1.50       307,692  
Mar 29, 2021   US$ 0.465       1,481,481  
April 8, 2021   CAD$ 4.73       57,756  
May 22, 2021   US$ 0.91       6,000,000  
May 22, 2021   US$ 0.30       1,133,333  
May 22, 2021   US$ 1.50       65,759  
July 5, 2021   US$ 0.25       52,631  
July 5, 2021   US$ 0.28       131,578  
July 5, 2021   US$ 0.35       3,917,771  
August 16, 2021   CAD$ 0.29       120,000  
August 16, 2021   US$ 0.18       4,210,785  
              38,734,629  
Weighted average remaining contractual life             1.33 years  
Weighted average exercise price   USD$ 0.71          

Warrants exercisable over 327,081 common shares at exercise prices ranging from $0.48 and $7.50 per share expired during the year ended August 31, 2019.


From September 6, 2018 to August 29, 2019, the Company issued 5,861,227 warrants to convertible debt note holders in terms of subscription unit agreements entered into with the convertible note holders (Note 13(c) to 13 (j)). The fair value of the warrants granted was estimated using the relative fair value method at between $0.04 to $0.39 per warrant.


From September 6, 2018 to May 22, 2019, the Company issued 23,375,948 warrants in terms of common share subscription agreements entered into with various investors. The fair value of the warrants granted was estimated using the relative fair value method at between $0.049 and $0.36 per warrant.


The share purchase warrants issued, during the year ended August 31, 2019, were valued at $3,805,184 using the relative fair value method. The fair value of share purchase warrants were estimated using the Black-Scholes valuation model utilizing the following weighted average assumptions:


    Year ended
August 31,
2019
 
Share price   CAD$ 0.51  
Exercise price   CAD 0.79  
Expected share price volatility     113 %
Risk-free interest rate     1.74 %
Expected term     1.70