Deposits on Stock Subscriptions

3 Months Ended

Jul. 31, 2016

Equity [Abstract]

Deposits on Stock Subscriptions

NOTE 7– DEPOSITS ON STOCK SUBSCRIPTIONS

The Company is engaged in a private placement offering that has raised a total of $137,500 as of July 31, 2016. The private placement consists of the sale of Units at $0.06 per Unit. Each Unit will consist of one common share of the Company’s stock and one common share purchase warrant (each a “Warrant” and together the “Warrants”). Each Warrant will be exercisable no later than sixty months from the date of the issuance thereof to purchase one common Share of the Company’s stock at an exercise price of $0.15. Once the Company has obtained a Record of Decision from the federal Bureau of Land Management approving an Environmental Impact Statement for the Longstreet Project, the Company, at its sole discretion may call the Warrants issued hereunder as due and exercisable by providing the holders of the Warrants with 60-day written notice of same.

As of July 31, 2016, the Company raised a total of $137,500 which is included as “Deposits on Stock Subscriptions” on the balance sheet.