Share Purchase Warrants
|3 Months Ended|
Nov. 30, 2021
|Share Purchase Warrants Disclosure [Abstract]|
|SHARE PURCHASE WARRANTS||
During August 2021 the company received $750,000 from a private investor in terms of an irrevocable subscription agreement for the issue of 6,250,000 units, at an issue price of $0.12 per unit. Each unit consists of one common share and one transferable share purchase warrant exercisable at $0.12 per share, for a period of twenty four months from closing. Due to the suspension of trading by the TSXV, these warrants have not been issued as yet.
A summary of the Company’s warrant activity during the period September 1, 2020 and November 30, 2021 is as follows:
The following table summarizes information about warrants outstanding as of November 30, 2021:
The warrants exercisable for 151,785 shares at $0.14 per share have not been approved by the TSXV at the date of this report.
In terms of a subscription agreement entered into with Cantone, a warrant exercisable for 2,500,000 shares at $0.12 per share, have not been approved by the TSXV as of the date of this report.