CONVERTIBLE DEBENTURES AND DEFERRED FINANCING COSTS (Tables)
|
6 Months Ended |
May 31, 2019 |
|---|
| Schedule of Derivative Liabilities at Fair Value [Table Text Block] |
The components of the embedded derivative as of May 31, 2019 are:
| |
|
Indexed |
|
|
|
|
| Financings giving rise to derivative financial instruments |
|
Shares |
|
|
Fair Value |
|
| Convertible Notes October 22, 2018 |
|
8,500,000 |
|
$ |
310,539 |
|
| |
|
8,500,000 |
|
$ |
310,539 |
|
The components of the embedded derivative as of November 30, 2018 are:
| |
|
Indexed |
|
|
|
|
| Financings giving rise to derivative financial instruments |
|
Shares |
|
|
Fair Value |
|
| Convertible Secured Debentures December 7, 2016 |
|
8,044,853 |
|
$ |
426,016 |
|
| Convertible Notes October 22, 2018 |
|
8,500,000 |
|
|
531,285 |
|
| |
|
16,544,853 |
|
$ |
957,301 |
|
|
| Schedule of Derivative Instruments, Amounts reflected in Income [Table Text Block] |
The following table summarizes the effects on gain (loss) associated with changes in the fair values of derivative financial instruments by type of financing for the six months ended May 31, 2019 and 2018:
| |
|
Six Months |
|
|
Six Months |
|
| |
|
Ended |
|
|
Ended |
|
| |
|
May 31, 2019 |
|
|
May 31, 2018 |
|
| Financings giving rise to derivative financial instruments and the income effects: |
|
|
|
|
|
|
| Convertible Secured Debentures December 7, 2016 |
$ |
425,020 |
|
$ |
61,349 |
|
| Convertible Notes October 22, 2018 |
$ |
220,747 |
|
|
- |
|
| |
$ |
645,767 |
|
$ |
61,349 |
|
|
| Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Method Used [Table Text Block] |
| Convertible secured debentures, December 7, 2016 |
|
May 31, 2019 |
|
|
November 30, |
|
| |
|
|
|
|
2018 |
|
| |
|
|
|
|
|
|
| Derivative financial instruments |
$ |
- |
|
$ |
426,016 |
|
| Conversion price |
$ |
- |
|
$ |
0.135 |
|
| Volatility |
|
- |
|
|
91% |
|
| Remaining term (years) |
|
- |
|
|
0.52 |
|
| Risk free rate |
|
- |
|
|
2.52% |
|
| Convertible notes, October 22, 2018 |
|
May 31, 2019 |
|
|
November 30, |
|
| |
|
|
|
|
2018 |
|
| |
|
|
|
|
|
|
| Derivative financial instruments |
$ |
310,539 |
|
$ |
531,285 |
|
| Conversion price |
$ |
0.15 |
|
$ |
0.15 |
|
| Volatility |
|
76% |
|
|
79% |
|
| Remaining term (years) |
|
0.88 |
|
|
1.38 |
|
| Risk free rate |
|
2.21% |
|
|
2.70% |
|
|
| Series B Convertible Secured Debentures December 7, 2016 [Member] |
|
| Schedule of Secured Convertible Debentures, Allocation of the Purchase [Table Text Block] |
The following table reflects the allocation of the purchase on December 7, 2016:
| |
Secured convertible notes |
|
Face Value |
|
| |
(CAD $1,399,000) |
$ |
1,041,835 |
|
| |
Proceeds |
|
1,041,835 |
|
| |
Embedded derivative |
|
(285,612 |
) |
| |
Carrying value |
$ |
756,223 |
|
|
| Secured Convertible Debentures October 22, 2018 [Member] |
|
| Schedule of Secured Convertible Debentures, Allocation of the Purchase [Table Text Block] |
The following table reflects the allocation of the purchase on October 22, 2018:
| Proceeds |
$ |
1,275,000 |
|
| |
|
|
|
| Convertible notes |
$ |
(131,547 |
) |
| |
|
|
|
| Derivative liability-convertible promissory notes |
$ |
(619,364 |
) |
| |
|
|
|
| Additional paid in capital (equity warrants) |
$ |
(524,089 |
) |
|