Reserve for Warrants (Details) |
1 Months Ended | 12 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|
Nov. 18, 2021 |
Feb. 28, 2021 |
Jun. 30, 2022
CAD ($)
shares
|
Jun. 30, 2022
USD ($)
shares
|
Jan. 09, 2022
shares
|
Nov. 23, 2021
shares
|
Jun. 30, 2021
shares
|
Jun. 30, 2020
shares
|
|
Reserve for Warrants (Details) [Line Items] | ||||||||
Description of warrant issuances | the Company issued 346,108 Warrants to subscribers of the Debentures. Debenture holders were eligible to receive such number of Warrants equal to half of the number of common shares issuable upon conversion of the Debentures at the conversion price of $1.25. Each Warrant is exercisable into one common share at an exercise price of $1.50 per Warrant until the earlier of (i) 60 months from the grant date or (ii) 24 months from the Company completing a listing on a Canadian stock exchange. These Warrants were valued at $90,769, recorded to the warrants reserve after allocating, on a pro-rata basis, the $362,411 residual value of the Debentures between the debt and warrants components after the initial allocation of $442,589 of the $805,000 net proceeds received to the conversion feature. | |||||||
Expected life of warrants | 2 years 6 months | 2 years 6 months | ||||||
Expected volatility of warrants | 100.00% | 70.00% | 70.00% | |||||
Expected dividend yield of warrants | ||||||||
Risk free interest rate | 1.47% | |||||||
Market price | $ 1.5 | |||||||
Exercise price | 1.5 | |||||||
Debenture transaction costs | 2,025 | |||||||
Debenture finders | 15,000 | |||||||
Black scholes based on the assumptions | $ 9,480 | |||||||
Company issued shares | shares | 243,419 | 243,419 | 240,000 | 751,163 | 2,170 | 50 | ||
Warrants exercisable | $ 9.375 | |||||||
Warrant [Member] | ||||||||
Reserve for Warrants (Details) [Line Items] | ||||||||
Expected life of warrants | 2 years 6 months | 2 years 6 months | ||||||
Expected volatility of warrants | 70.00% | 70.00% | ||||||
Expected dividend yield of warrants | ||||||||
Risk free interest rate | 0.18% | 0.18% | ||||||
Market price | $ 1.5 | |||||||
Exercise price | 1.5 | |||||||
Initial Public Offering [Member] | ||||||||
Reserve for Warrants (Details) [Line Items] | ||||||||
Company issued shares | shares | 184,000 | |||||||
Warrants exercisable | $ 9.375 | |||||||
Bottom of Range [Member] | ||||||||
Reserve for Warrants (Details) [Line Items] | ||||||||
Risk free interest rate | 0.18% | 0.18% | ||||||
Top of Range [Member] | ||||||||
Reserve for Warrants (Details) [Line Items] | ||||||||
Risk free interest rate | 0.22% | 0.22% |