SUBSEQUENT EVENT

12 Months Ended

Jul. 31, 2017

Subsequent Events [Abstract]

Subsequent Events [Text Block]

NOTE 18: SUBSEQUENT EVENT

Subsequent to July 31, 2017, the Company paid Fiscal 2017 bonuses to the Company’s directors, officers, employees and consultants, which were paid in the form of cash, compensation shares (the “Bonus Shares”) and stock options. The Bonus Shares were issued and the stock options were granted under the Company’s Stock Incentive Plan. The cash bonus of $393,800 and withholding amounts associated with the Bonus Shares were included in accounts payable and accrued liabilities, and 398,839 Bonus Shares with a fair value of $638,142 was reported as share issuance obligations on the company’s consolidated balance sheet as at July 31, 2017. The stock options to purchase a total of 1,854,000 shares of the Company are exercisable at $1.28 per share vesting over a period of 24 months with a term of five years.