Share purchase warrants outstanding as at May 31, 2021 are:

Warrants exercisable for 17,455,291 common shares at exercise prices ranging from $0.14 and $3.43 per share expired during the nine months ended May 31, 2021.

On September 17, 2020 and December 9, 2020, warrants for 2,268,169 and 1,176,470 shares were exercised at an exercise price of $0.03 per share for gross proceeds of $103,339.

On September 30, 2020, the Company issued warrant exercisable for 4,545,454 shares to a convertible debt note holder.

The fair value of the warrants granted was estimated at $101,475 using the relative fair value method. In addition, warrants valued on debt extinguishment agreements entered into with certain convertible note holders, whereby the exercise price and in certain cases, the expiry date of the warrant were amended, amounted to $149,354.

Between January 26, 2021 and May 28, 2021, in terms of various subscription agreements entered into; debt modification agreements and convertible debentures converted into units, the Company granted warrants exercisable for 6,169,749 shares of common stock at exercise prices ranging from $0.0475 to $0.10 per share and maturities ranging from 7 months to 41 months. These warrants were value at $219,045 using a Black Scholes warrant pricing model.

The fair value of share purchase warrants was estimated using the Black-Scholes valuation model utilizing the following weighted average assumptions: