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Commitments, Significant Contracts and Contingencies | 12 Months Ended
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Aug. 31, 2017
Commitments, Significant Contracts and Contingencies [Text Block] |
16. | Commitments, Significant Contracts and Contingencies
| Management and Service Agreements
| As at August 31, 2017, the Company is party to the following contractual commitments:
| Party | Monthly Commitment | Expiry Date
| C.A.B Financial Services (1) (2) | $12,000 | November 30, 2018
| Docherty Management Ltd. (1) (2) | CAD $15,000 | March 1, 2018
| M&E Services Ltd. (1) | CAD $8,000 | June 1, 2018
| Corporate Development (3) (4) | CAD $4,000 | Month to Month
| Advisory Agreement | CAD $4,000 | March 24, 2018
| Investor relations and communications – Alex Blanchard Capital (1) | CAD $7,500 | December 19, 2017
| Research & Development | CAD $3,854 | June 19, 2018
| Revenue Incentive Milestones
| (1) 100,000 common shares issuable upon the Company achieving non-refundable revenues of $200,000 to any single customer in any consecutive 60 -day period for the first 12 months of the contract, plus a further 50,000 common shares issuable upon achieving non-refundable revenues of $200,000 to any single customer in any consecutive 60 -day period, during the 13th - 24th months of the contract. If the Company achieves non-refundable revenues of $500,000 in any fiscal quarter, a further 200,000 common shares may be issuable during the first 12 months of the contract and 100,000 common shares during the 13th - 24th months of the contract.
| Intellectual Property Milestones
| (2) During the term of the agreement, for each provisional patent application substantively devised and successfully created, written, and filed with the U.S. Patent Office for the Company’s Technology, 250,000 restricted common shares of the Company will be issuable.
| Corporate Development Milestones
| (3) For new customers sourced by the Consultant until July 10, 2017; for combined Lexaria Energy and ViPova products and including all combined sales efforts and/or technology licensing revenues, achieving non-refundable revenues of $200,000 to any single customer in any consecutive 60 -day period would result in a restricted common share award of 100,000 Company shares (not achieved); and, from July 11, 2017, until July 10, 2018; a restricted common share award of 50,000 Company shares may be achieved; this clause is limited to one payment per customer during the 12 -month period, but payable on each customer that meets these sales/licensing thresholds.
| (4) For new customers sourced by the Consultant until July 10, 2017; for combined Lexaria Energy and ViPova products and including all combined sales efforts and/or technology licensing revenues, achieving non-refundable revenues of $500,000 in any fiscal quarter would result in a restricted common share award of 200,000 Company shares (not achieved); and, from July 11, 2017, until July 10, 2018; for combined Lexaria Energy and ViPova products and including all sales efforts, achieving non-refundable revenues of $500,000 in any fiscal quarter would result in a restricted common share award of 100,000 Company shares; this clause is limited to one payment per fiscal quarter.

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