Capital Stock

9 Months Ended

May 31, 2014

Notes to Financial Statements

Note - 8 Capital Stock

Authorized

The Company previously had 250,000,000 shares of authorized Common Stock, $.001 par value. Pursuant to an agreement in which the Company acquired its operating subsidiary, it agreed to complete a 1-for-400 reverse stock split. On December 12, 2014, the Company effectuated a 1-for-400 reverse stock split of its authorized and outstanding shares, which reduced the authorized shares to 625,000 shares, $.001 par value and reduced the outstanding shares to 572,369 shares, $.001 par value. All share and per share data have been retroactively restated to reflect the reverse split.

Issued and outstanding

On March 21, 2014, Ironwood Gold Corp. (the ”Parent”) entered into a share exchange agreement with The Wilderness Way Adventure Resort Inc. (the “Subsidiary” or the “Company”).  In accordance with the merger, the Parent issued 9,000,000 common shares (3,600,000,000 pre-split common shares) in consideration of the 100% of the issued and outstanding common stock of the Company.  At the closing date of the foregoing transaction, the Company 375,000 common shares (150,000,000 pre-split common shares) were issued to Andrew McKinnon. An additional 8,625,000 common shares (3,450,000,000 pre-split common shares) are required to be issued.

As a result of the completion of the Share Exchange Agreement and the Private Placement financing, the Company is also obligated to issue common stock for issuance upon conversion of promissory notes and services. As of May 31, 2014, the Company had committed to issue an additional 906,503 shares of common stock.

On March 21, 2014, the Company issued 30,000 common shares (12,000,000 pre-split common shares) for services rendered of $33,600.  As of May 31, 2014, these shares were not issued.

Stock Options

The Company has a stock option plan whereby the Board of Directors and/or Committee appointed by the Board of Directors is authorized to grant options to a ceiling of 2,000,000 common shares of the Company.  On March 21, 2014, the Company issued the CEO a signing bonus of 750,000 (pre-stock split) five year options with an exercise price of $0.18  (pre-stock split) which shall vest [immediately].

Warrants

As at May 31, 2014 and August 31, 2013, the following share purchase warrants/options were outstanding and exercisable:

Expiry Date		Exercise Price	May 31, 2014	August 31, 2013
March 2016	$	100.00	3,250	3,250
August  2016	$	32.00	15,000	15,000
March 2019	$	0.18	1,875	-
April 2020	$	124.00	250	250
March 2020	$	0.22	5,555,556	-
Feb 2021	$	20.00	5,000	5,000
			5,580,931	23,500

Share purchase warrant/option transactions and the number of share purchase warrants/options outstanding and exercisable are summarized as follows:

	May 31, 2014				August 31, 2013
			Weighted					Weighted
	Number of		Average		Number of			Average
	Warrants/		Exercise		Warrants/			Exercise
	Options		Price		Options			Price
Outstanding at beginning of period		23,500	$	52.00		16,350		$	68.00
Issued		1,875		72.00		23,250			40.00
Issued		5,555,556		0.22		-			-
Forfieted						(15,000	)	$	32.00
Expired		-		-		(1,100	)	$	560.00
Outstanding at end of period		5,580,931	$	0.41		23,500		$	52.00