Related party transactions not otherwise separately disclosed in these consolidated financial statements are: 

At August 31, 2019, $748,682 was due to members of key management and directors for unpaid salaries, expenses and directors’ fees (2018 – $1,065,392).

During the years ended August 31, 2019 and 2018, no common shares were granted as compensation to key management and directors of the Company.

On September 4, 2018, the Company entered into a debt settlement agreement whereby it agreed to convert $249,285 of advances made to the Company by the Chairman of the Board into 336,871 common shares at a conversion price of $0.74 per share.

On November 8, 2018 the Company entered into a debt settlement agreement with a director of the Company whereby the Company issued 28,880 shares of common stock in settlement of $23,393 of travel related payables.

On February 25, 2019, the Company entered into debt settlement agreements whereby directors’ fees owing to the directors were settled by the issue of shares of common stock as follows:

On February 27, 2019, the CEO of the Company subscribed for 62,500 shares of common stock for gross proceeds of $25,000.

On March 5, 2019, the Chairman of the Board subscribed for 2,222,222 shares of common stock for gross proceeds of $1,000,000.

On March 29, 2019, Nefco Petroleum, a company controlled by the Chairman of the Board, subscribed for 197,058 shares of common stock for gross proceeds of $67,000.

On May 22, 2019, the Chairman of the Board subscribed for 308,333 shares of common stock for gross proceeds of $74,000.

On May 31, 2019, Palmira Associates, a company controlled by the Chairman of the Board, entered into a debt settlement agreement whereby debt of $98,030 was settled by the issue of 363,073 shares of common stock.

On July 5, 2019, Palmira Associates, a company controlled by the Chairman of the Board, subscribed for 210,526 shares of common stock for gross proceeds of $40,000.

On August 1, 2019, a director advanced the Company $50,000 as a short term advance. The advance is interest free and is expected to be paid within three months.

On August 16, 2019, the Chairman of the Board subscribed for 246,153 shares of common stock for gross proceeds of $32,000.

As of August 31, 2019 and 2018 the Company did not owe any funds to the Chairman of the Board or any of the various private companies controlled by him.

As of August 31, 2019 and 2018, the Chairman of the Board of the board owed the Company $0 and $297,256.