SUPPLEMENTAL CASH FLOW INFORMATION

12 Months Ended

Jul. 31, 2014

SUPPLEMENTAL CASH FLOW INFORMATION [Text Block]

NOTE 14: SUPPLEMENTAL CASH FLOW INFORMATION

During Fiscal 2014, the Company issued 635,303 restricted shares with a fair value of $1,101,932 for consulting services.

During Fiscal 2014, the Company issued 30,386 restricted shares with a fair value of $55,000 to two directors of the Company for bonuses.

During Fiscal 2014, the Company issued 30,304 restricted shares with a fair value of $34,850 as part of an annual advance royalty payment for the Workman Creek Project.

During Fiscal 2014, the Company paid $217,269 for transaction costs incurred in connection with the ATM Offering.

In connection with Credit Facility in July 2013 and the first draw-down of $10 million in gross proceeds, the Company incurred debt financing costs of $418,477 which were included in accounts payable and accrued liabilities at July 31, 2013 and subsequently paid during Fiscal 2014.