14 unchanged sentences
Recent Sales of Unregistered Securities
−Removed: During the year ended August 31, 2022, the Company issued 224,299 restricted common shares with a value of $1.2m as required by a consulting contract.
−Removed: There were no warrants granted or exercised during the year ended August 31, 2022.
+Added: During the year ended August 31, 2023, the Company did not issue any restricted common shares.
+Added: During the year ended August 31, 2023, 2,106,000 warrants were issued, none were exercised, and 7,500 were cancelled.
+Added: The 2,106,00 warrants issued have an exercise price of $0.95 and are exercisable until May 11, 2028.
Equity Compensation Plan Information
3 unchanged sentences
Plan Category
−Removed: Number of securities to be
−Removed: based upon exercise of
−Removed: outstanding options,
−Removed: warrants and rights
−Removed: Weighed-average
−Removed: exercise price of
−Removed: outstanding options,
−Removed: warrants and rights
−Removed: Number of securities remaining
−Removed: available for future issuance under
−Removed: equity compensation plan
−Removed: [excluding securities reflected in
+Added: Number of securities to be based upon exercise of outstanding options, warrants and rights
+Added: Weighed-average exercise price of outstanding options, warrants and rights
+Added: Number of securities remaining available for future issuance under equity compensation plan [excluding securities reflected in column (a)]
Equity compensation plans not approved by shareholders
4 unchanged sentences
If this Plan is suspended or terminated, the provisions of this Plan and any administrative guidelines, rules and regulations relating to this Plan shall continue in effect for the duration of such time as any Option remains outstanding.
+Added: On May 9, 2023, the Company’s shareholders approved two proposals to amend the Equity Incentive Plan.
+Added: The approval of the first proposal authorized the Board to amend the Equity Incentive Plan by increasing the maximum number of shares issuable to 10% of the issued share capital as at May 31, 2023 and the second proposal authorized the Board to amend the Equity Incentive Plan to allow for an evergreen formula whereby on January 1 of each calendar year the number of shares issuable pursuant to the Equity Incentive Plan may be increased, at the discretion of the Board, to 10% of the issued share capital as at December 31 of the preceding year.
+Added: As the Company still has the ability to issue options for the purchase of up to 109,497 common shares under its Equity Incentive Plan (being the 63,497 shares issuable as at fiscal year end and an additional 46,000 shares issuable due to options which expired on September 6, 2023), it has not yet filed a Form S-8 Registration Statement for the registration of the additional shares issuable pursuant to the approved proposals.
Convertible Securities
1 unchanged sentence
Options were granted at prices of:
−Removed: 81,800 at $6.23, 36,700 at $3.39, and 103,500 at $2.91 and have five year terms.
−Removed: The 198,500 options granted and vested during the year had a fair value of $663,398 using the Black Scholes valuation method and the non-cash expense was included in consulting and salaries.
+Added: 3,400 at $3.04, 41,200 at $1.96, 5,000 at $2.73 and 20,000 at $0.87 and have five year terms.
+Added: The 69,600 options granted and vested during the year had a fair value of $89,057 using the Black Scholes valuation method and the non-cash expense was included in consulting compensation.
+Added: Further, during the year ended August 31, 2023, 267,969 previously granted options with exercise prices ranging from $9.60 to $4.80 were repriced to $3.00 following shareholder approval obtained at the Company’s annual shareholder meeting held on May 9, 2023.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
3 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.