Subsequent event

3 Months Ended

Mar. 31, 2021

Subsequent Events Abstract

Subsequent Event [Text Block]

17. Subsequent Events

Subsequent to March 31, 2021, CAD$42,000 ($34,000) of convertible debentures were converted into 84,000 common shares at the option of the holders.

On May 11, 2021, the Company announced that a majority of its shareholders have approved the resolution approving the previously announced investment in IntelGenx by atai, pursuant to which atai will initially acquire an approximate 25% interest in IntelGenx for gross proceeds in the amount of $12,346,300.  The shareholders also approved a resolution to amend IntelGenx’s Certificate of Incorporation to increase the total number of shares of common stock that IntelGenx is authorized to issue from 200,000,000 shares to 450,000,000 shares.

On May 11, 2021, atai has granted to the Company an additional advance in the amount of $500,000, under the same terms and conditions as described in note 7.