Quarterly report pursuant to Section 13 or 15(d)

Stock Options

v3.8.0.1
Stock Options
3 Months Ended
Nov. 30, 2017
Stock Options [Text Block]
12.

Stock Options

   
 

The Company has established its 2014 Stock Option Plan whereby the board of directors may, from time to time, grant up to 3,850,000 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.

   
 

Fiscal 2018 Activity

   
 

No stock options were granted during the period ended November 30, 2017.

A continuity schedule for stock options is presented below:

          Weighted  
    Options     Average Exercise  
    Outstanding     Price  
          $  
Balance, August 31, 2016   3,485,000     0.15  
Exercised   (1,014,125 )   0.17  
Granted   850,000     0.14  
Balance, August 31, 2017   3,320,875     0.15  
Exercised   (55,000 )   0.23  
Balance, November 30, 2017   3,265,875     0.15  

A summary of the stock options as at November 30 2017, is presented below:

Number of Stock Number of Stock Weighted Weighted Aggregate
Options Options Average Average Intrinsic Value
  Exercisable Remaining Exercise Price  
    Contractual Life $ $
247,500 247,500 0.55 years 0.09 231,188
193,375 193,375 1.65 years 0.23 154,261
990,000 990,000 2.06 years 0.10 915,750
275,000 275,000 2.18 years 0.09 256,875
550,000 550,000 2.32 years 0.09 513,750
110,000 110,000 2.80 years 0.17   93,750
300,000 300,000 3.38 years 0.11 274,500
200,000 200,000 4.51 years 0.37 131,000
400,000 100,000 4.56 years 0.29 292,000
3,265,875 2,965,875 2.58 years 0.15 2,863,073