On July 28, 2019, in connection with the Lookout Mountain LLC Agreement, the Company issued 3,367,441 shares of common stock at a price of $0.08 to PM&G for cash proceeds to the Company of $269,395. No warrants were issued with this share purchase.

On June 14, 2019, the Company closed the sale of 1,000,000 Units, the second tranche of a private placement offering of up to 7,500,000 Units of the Company at a price of $0.08 per Unit, for total proceeds of $80,000. Each Unit of the offering consists of one share of common stock of the Company and one common share purchase Class H warrant, with each warrant exercisable to acquire an additional share of common stock of the Company at a price of $0.14 per share until March 30, 2022. As a result, 1,000,000 shares of the Company’s common stock and 1,000,000 Warrants were issued.

On March 29, 2019, the Company closed the sale of 2,000,000 Units, the first tranche of a private placement offering of up to 7,500,000 Units of the Company at a price of $0.08 per Unit, for total proceeds of $160,000. Each Unit of the offering consists of one share of common stock of the Company and one common share purchase Class H warrant, with each warrant exercisable to acquire an additional share of common stock of the Company at a price of $0.14 per share until March 30, 2022. As a result, 2,000,000 shares of the Company’s common stock and 2,000,000 Warrants were issued.

On October 18, 2018, and on December 3, 2018, the Company closed two tranches of a private placement offering of 7,500,000 Units of the Company at a price of $0.08 per Unit for net proceeds of $600,000. Each Unit in the offering consisted of one share of common stock of the Company and one Class E Warrant, with each warrant exercisable to acquire an additional share of common stock of the Company at a price of $0.14 per share until the warrant expiration date of October 29, 2021.

In the aggregate for these two private placements, the Company sold a total of 10,380,867 Units at prices of $0.30 per unit (for 2,880,867 units) and $0.08 per unit (for 7,500,000 units) for gross proceeds of $1,464,260 and net cash proceeds of $1,421,767, after offering costs of $42,493.

During the fiscal year ended September 30, 2019, 10,300,000 warrants were issued pursuant to two separate private placement offerings. In addition, 3,543,600 warrants were issued pursuant to a senior unsecured debt financing (See Note 6), and 5,000,000 warrants were issued pursuant to the purchase of mineral rights (See Note 3 and Note 6). Total warrants of 9,960,006 and nil expired during the fiscal years ended September 30, 2019 and 2018, respectively.

There were 45,689,967 and 36,606,373 warrants outstanding as of September 30, 2019 and 2018, respectively.

	Shares	Exercise Price ($)		Expiration Date
Class A Warrants: (Issued for Private Placement)
Outstanding and exercisable at September 30, 2017	9,960,006	0.25	May 31, 2019
Outstanding and exercisable at September 30, 2018	9,960,006
Warrants Expired May 31, 2019	(9,960,006)
Outstanding and exercisable at September 30, 2019	0
Class B Warrants: (Issued for Private Placement)
Outstanding and exercisable at September 30, 2017	8,000,000	0.40	January 31, 2020
Outstanding and exercisable at September 30,2018	8,000,000
Outstanding and exercisable at September 30, 2019	8,000,000
Class C Warrants: (Issued for Private Placement)
Warrants issued November and December 2017	2,880,867	0.45	October 31, 2022
Outstanding and exercisable at September 30,2018	2,880,867
Outstanding and exercisable at September 30, 2019	2,880,867
Class D Warrants: (Issued for Private Placement)
Warrants issued May 2018	7,500,000	0.14	April 30, 2021
Outstanding and exercisable at September 30,2018	7,500,000
Outstanding and exercisable at September 30, 2019	7,500,000
Class D-2 Warrants: (Issued for Mineral Property Purchase)
Warrants issued May 23, 2018	5,000,000	0.24	May 23, 2021
Outstanding and exercisable at September 30, 2018	5,000,000
Outstanding and exercisable at September 30, 2019	5,000,000
Class F Warrants: (Issued for Unsecured Senior Note)
Warrants Issued July 30, 2018	3,265,500	0.09	February 1, 2023
Outstanding and exercisable at September 30,2018	3,265,500
Outstanding and exercisable at September 30, 2019	3,265,500
Class E Warrants: (Issued for Private Placement)
Warrants Issued November 9, 2018	7,500,000	0.14	October 21, 2021
Outstanding and exercisable at September 30, 2019	7,500,000
Class G Warrants: (Issued for Mineral Property Purchase)
Warrants Issued December 18, 2018	5,000,000	0.14	December 18, 2021
Outstanding and exercisable at September 30, 2019	5,000,000
Class H Warrants: (Issued for Private Placement)
Warrants Issued March 21, 2019	3,000,000	0.14	March 22, 2022
Outstanding and exercisable at September 30, 2019	3,000,000
Class I Warrants: (Issued for Unsecured Note Payable)
Warrants Issued May 8, 2019	3,543,600	0.07	November 7, 2020
Outstanding and exercisable at September 30, 2019	3,543,600

Warrants outstanding and weighted average exercise price at September 30, 2019	45,689,967	0.21

The Company is authorized to issue up to 10,000,000 shares of preferred stock, $0.01 par value. The Company’s board of directors is authorized to issue the preferred stock from time to time in series, and is further authorized to establish such series, to fix and determine the variations in the relative rights and preferences as between series, to fix voting rights, if any, for each series, and to allow for the conversion of preferred stock into common stock. There is no preferred stock issued as of September 30, 2019.