Quarterly report pursuant to Section 13 or 15(d)

Stock Options

v3.21.2
Stock Options
 3 Months Ended
Nov. 30, 2020
Share-based Payment Arrangement [Abstract]  
STOCK OPTIONS
15. STOCK OPTIONS

During the three months ended November 30, 2020 the share-based compensation expense of $199,632 (2019 - $18,157) relates to the vesting of options granted during the current and prior fiscal year.


Stock option transactions under the stock option plan were: 


    Three months ended
November 30,  2020		     Year ended
August 31, 2020		  
    Number of Options     Weighted
average
exercise
price		     Number of options     Weighted
average
exercise
price		  
Balance, beginning of period     9,470,000     CAD$     0.63       9,808,333     CAD$       1.20  
Options granted     -               5,220,000       0.10  
Options forfeited     -               (5,558,333 )   CAD$ 1.14  
Balance, end of period     9,470,000     CAD$ 0.63       9,470,000     CAD$ 0.63  

Stock options outstanding and exercisable as at November 30, 2020 are:


Expiry Date   Exercise
Price		     Options
Outstanding		     Options
Exercisable		  
February 20, 2021   CAD$ 0.110       2,220,000       2,220,000  
August 7, 2025   CAD$ 0.085       3,000,000       -  
November 30, 2027   CAD$ 2.270       950,000       950,000  
June 5, 2028   CAD$ 1.000       3,300,000       2,475,000  
              9,470,000       5,645,000  
Weighted average remaining contractual life             4.9 years       4.8 years