The Company’s potentially dilutive instruments are convertible debentures, stock options, share purchase warrants and contractual obligations to issue securities. Conversion of these instruments would have been anti-dilutive for the periods presented and consequently, no adjustment was made to basic loss per share to determine diluted loss per share. These instruments could potentially dilute earnings per share in future periods.

For the three months ended November 31, 2021 and 2020, the following stock options, share purchase warrants, convertible securities and contractual obligations to issue securities were excluded from the computation of diluted loss per share as the result of the computation was anti-dilutive:

Included in the share purchase warrants are warrants exercisable for 2,651,785 common shares which have not been approved by the TSXV, refer note 18 above.

The Company has contractual obligations to issue 13,285,869 common shares in terms of various debt conversion agreements entered into, in addition in terms of a subscription agreement, a further 6,250,000 common shares and a warrant exercisable for 6,250,000 common shares is still to be issued. Refer note 16 above.