SUPPLEMENTAL CASH FLOW INFORMATION

9 Months Ended

Apr. 30, 2016

Supplemental Cash Flow Elements [Abstract]

Cash Flow, Supplemental Disclosures [Text Block]

NOTE 13: SUPPLEMENTAL CASH FLOW INFORMATION

During the nine months ended April 30, 2016 and 2015, the Company issued 1,370,843 and 891,273 restricted shares with a fair value of $1,338,091 and $1,380,279, respectively, for consulting services.

During the nine months ended April 30, 2016, the Company issued 307,787 shares with a fair value of $279,330 as compensation to certain management, employees and consultants of the Company under the 2015 Plan.

During the nine months ended April 30, 2016 and 2015, the Company paid $1,217,778 and $1,213,333, respectively, in cash for interest on its long-term debt.

During the nine months ended April 30, 2016, the Company issued 487,574 shares with a fair value of $453,444 as settlement of certain of the Company’s accounts payable totaling $406,476.

During the nine months ended April 30, 2016, the Company entered into a SPOA with CIC Resources Inc., pursuant to which the Company acquired all of the issued and outstanding shares of JDL Resources Inc. As consideration, the Company issued 1,333,560 restricted common shares and paid $50,000 in cash.