SUPPLEMENTAL CASH FLOW INFORMATION

12 Months Ended

Jul. 31, 2017

Supplemental Cash Flow Elements [Abstract]

Cash Flow, Supplemental Disclosures [Text Block]

NOTE 15: SUPPLEMENTAL CASH FLOW INFORMATION

During Fiscal 2017, the Company issued 865,386 (Fiscal 2016: $1,429,650; Fiscal 2015: 1,108,390) restricted common shares with a fair value of $1,107,937 (Fiscal 2016: $1,372,381; Fiscal 2015: $1,851,074) for consulting services.

During Fiscal 2017, the Company issued 846,069 shares with a fair value of $967,369 to the Company’s directors, officers, employees and consultants under its Stock Incentive Plan. During Fiscal 2016, the Company issued 826,782 shares with a fair value of $726,244 to the Company’s directors, officers, employees and consultants under its Stock Incentive Plan. During Fiscal 2015, the Company issued 174,437 bonus shares with a fair value of $235,490 to the Company’s directors, officers, employees and consultants under its Stock Incentive Plan.

During Fiscal 2017, the Company paid $1,622,222 (Fiscal 2016: $1,626,667; Fiscal 2015: $1,484,444) in cash for interest on the long-term debt. During Fiscal 2017, the Company paid $117,069 (Fiscal 2016: $114,145; Fiscal 2015: $112,681) in surety bond premiums.

During Fiscal 2016, the Company entered into a Share Purchas and Option Agreement with CICRI, pursuant to which the Company acquired all of the issued and outstanding shares of JDL. As consideration, the Company paid $50,000 in cash and issued 1,333,560 restricted common shares with a fair value of $1,226,875 to CICRI.

During Fiscal 2017, the Company exercised the CIC Option in accordance with the Share Purchase and Option Agreement and issued 664,879 restricted common shares with a fair value of $1,070,455 as consideration to settle certain payables totaling $1,021,453.

During Fiscal 2017, the Company also issued 351,061 restricted common shares with a fair value of $454,195 as settlement of certain payables totaling $454,195.

During Fiscal 2016, the Company issued 487,574 restricted common shares with a fair value of $453,444 as settlement of certain payables totaling $406,476.

During Fiscal 2017, the Company issued 46,800 restricted common shares with a fair value of $48,672 as part of an annual advance royalty payment for the Workman Creek Project.