XML 21 R5.htm IDEA: XBRL DOCUMENT v3.22.0.1
Condensed Interim Consolidated Statements of Cash Flows - USD ($)
6 Months Ended 9 Months Ended 12 Months Ended
Dec. 31, 2020
Sep. 30, 2021
Sep. 30, 2020
Jun. 30, 2020
Jun. 30, 2019
Operating activities          
Net income (loss) for the period $ (2,164,454) $ 9,843,495 $ (13,848,837) $ (31,321,791) $ (8,442,320)
Adjustments to reconcile net income (loss) to net cash used in operating activities:          
Stock-based compensation 1,411,657 793,357 1,361,921 1,047,388 43,403
Depreciation expense 106,808 178,744 117,499 123,956 9,897
Change in fair value of warrant liability (10,503,941) (22,172,681) (1,096,476) 18,843,947 (1,892,488)
Accretion expense 118,388 370,397 359,267 734,589
Financing costs 360,000 390,000 30,000
Interest expense   8,219    
Loss on loan extinguishment 9,407 9,407 1,204,073
Interest expense on lease liability 10,038 10,632 17,402 27,062
Foreign exchange gain on re-translation of lease liability 13,334 1,434 (26,354) (10,766)
Loss on debt settlement 875,861 56,146 899,237 1,056,296
Loss on private placement 940,290 940,290
Share issuance costs 947,156    
Loss on sale of equipment     10,930
Changes in operating assets and liabilities:          
Accounts receivable (21,340) (13,632) (31,503) (35,828) 186,182
Deposit     90,248
Prepaid expenses (274,211) 72,933 (242,854) (67,542) 553,458
Long term deposit     (68,939)
Accounts payable (1,827,113) 606,058 (191,168) 1,479,992 2,670,639
Accrued liabilities 3,402,435 1,243,042 4,028,410 4,320,089 2,421,011
Other liabilities     (11,117) (110)
Interest payable 124,367 209,971 202,426 198,219
Net cash used in operating activities (6,480,725) (9,372,253) (7,092,658) (3,947,214) (2,281,208)
Investing activities          
Deposit on mining interest (2,000,000)    
Purchase of machinery and equipment (280,701) (94,693) (304,295) (219,528) (6,555)
Proceeds on disposal of equipment     10,000
Net cash used in investing activities (2,280,701) (94,693) (304,295) (219,528) 3,445
Financing activities          
Proceeds from convertible loan payable     500,000
Proceeds from issuance of common stock, net of issuance costs 13,315,538 6,008,672 16,083,126 2,428,530 1,195,830
Proceeds from warrants exercised 417,006 417,006
Shares to be issued     549,363 107,337
Lease payments (61,504) (97,138) (71,732) (120,690)
Proceeds from promissory note 840,000 2,500,000 1,542,169 1,084,536
Repayment of promissory note (1,825,920) (2,017,706) (158,094)
Net cash provided by financing activities 12,268,114 8,411,534 15,952,863 4,200,651 1,803,167
Net change in cash and cash equivalents 3,506,688 (1,055,412) 8,555,910 33,909 (474,596)
Cash and cash equivalents, beginning of period 61,973 3,568,661 82,558 28,064 502,660
Cash and cash equivalents, end of period 3,568,661 2,513,249 8,638,468 61,973 28,064
Non-cash activities:          
Units issued to settle accounts payable, accrued liabilities and promissory notes 1,085,115 188,607 717,673
Common stock issued to settle convertible loan 1,600,000 $ 300,000 300,000 100,000
Disposal of equipment used to settle accounts payable     20,930
Stock options exercised used to settle accrued liabilities     $ 268,930