Quarterly report pursuant to Section 13 or 15(d)

Promissory Notes Payable

v3.21.4
Promissory Notes Payable
3 Months Ended
Nov. 30, 2021
Promissory Notes Payable [Abstract]  
PROMISSORY NOTES PAYABLE
11. PROMISSORY NOTES PAYABLE

  

              Principal
due
    Principal
due
 
Lender   Maturity
Date
  Interest
Rate
    November 30,
2021
    August 31,
2021
 
Promissory notes                            
Private lender   April 29, 2022     10.00 %   $ 23,298     $ 23,298  

 

On April 29,2021 the Company issued a promissory note to a private lender in the aggregate sum of $500,000. The promissory note bears interest at 10% per annum and is repayable on April 29, 2022. The Company repaid $476,702 of the outstanding balance as at November 30, 2021. The balance remaining at November 30, 2021 is $23,298.