Quarterly report pursuant to Section 13 or 15(d)

Stock Options

v3.20.4
Stock Options
3 Months Ended
Nov. 30, 2020
Share-based Payment Arrangement [Abstract]  
Stock Options

13.

Stock Options

 

 

 

The Company has established the 2014 Stock Option Plan whereby the board of directors may, from time to time, grant up to 62,917 stock options to directors, officers, employees, and consultants; and the 2019 Equity Incentive Plan whereby the board of directors may, from time to time, grant up to 261,290 stock options to directors, officers, employees, and consultants. Stock options granted must be exercised no later than five years from the date of grant or such lesser period as determined by the Company’s board of directors. The exercise price of an option is equal to or greater than the closing market price of the Company’s common shares on the day preceding the date of grant. The vesting terms of each grant are set by the board of directors.

 

The Company did not grant options during the quarter ended November 30, 2020.

 
A continuity schedule for stock options is presented below:

 

 

 

Options

 

 

Weighted Average Exercise Price $

 

 

Weighted Average Remaining Contractual Term (Years)

 

 

Aggregate Intrinsic Value $

 

Balance August 31, 2019

 

 

166,767

 

 

 

21.30

 

 

 

 

 

 

 

Cancelled/expired

 

 

(149,437 )

 

 

29.51

 

 

 

 

 

 

 

Exercised

 

 

(7,333 )

 

 

4.09

 

 

 

 

 

 

 

Granted

 

 

161,600

 

 

 

11.66

 

 

 

 

 

 

 

Balance August 31, 2020

 

 

171,596

 

 

 

11.17

 

 

 

 

 

 

 

Cancelled

 

 

(1,333 )

 

 

12.90

 

 

 

 

 

 

 

Balance November 30, 2020 (Outstanding)

 

 

170,263

 

 

 

11.16

 

 

 

4.05

 

 

 

30,000

 

Balance November 30, 2020 (Exercisable)

 

 

146,231

 

 

 

10.51

 

 

 

4.05

 

 

 

30,000