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Common Shares and Warrants | 12 Months Ended
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Aug. 31, 2023
Common Shares and Warrants |
Common Shares and Warrants | 14. Common Shares and Warrants Fiscal 2023 Activity During the year ended August 31, 2023, the Company completed the following issuances of common shares and warrants:
| 1. | 34,652 shares were sold pursuant to an at-the-market offering (“ATM”) for gross proceeds of $114,456. Offering costs netted against proceeds amounted to $125,122 ; and
| 2. | 2,106,000 units were sold at a price of $0.95 per unit, with each unit consisting of one common share and one warrant exercisable to purchase an additional common share at $0.95 per share, for net proceeds of $1,600,397. The 2,106,000 warrants are exercisable for a period of five (5) years.
No warrants have been exercised and 7,500 warrants expired during the year ended August 31, 2023. Presented below is a continuity schedule for warrants:
|  | Number of Warrants |  |  | Weighted Average Exercise Price $ |
Balance, Aug 31, 2021 |  |  | 2,447,275 |  |  |  | 8.00 |
Cancelled/expired |  |  | (25,292 | ) |  |  | 4.57 |
Balance, Aug 31, 2022 |  |  | 2,421,983 |  |  |  | 8.04 |
Cancelled/expired |  |  | (7,500 | ) |  |  | 24.00 |
Issued |  |  | 2,106,000 |  |  |  | 0.95 |
Balance, August 31, 2023 |  |  | 4,520,483 |  |  |  | 4.71 |
Presented below is a summary of warrants outstanding as of August 31, 2023:
Number of Warrants |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life (years) |
60,798 |  |  | $ | 36.00 |  |  | 1.21-1.25 |
317,190 |  |  | $ | 10.50 |  |  | 1.68-1.70 |
116,667 |  |  | $ | 9.00 |  |  | 0.62-1.54 |
200,000 |  |  | $ | 7.00 |  |  | 0.62 |
1,719,828 |  |  | $ | 6.58 |  |  | 2.38 |
2,106,000 |  |  | $ | 0.95 |  |  | 4.70 |
4,520,483 |  |  | $ | 4.71 |  |  | 3.28 |
Fiscal 2022 Activity During the year ended August 31, 2022, the Company issued 224,299 restricted shares valued at $1,200,000 for payment of contracted services. We did not issue any warrants, no warrants were exercised, and 25,292 warrants expired.

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