Common Shares

9 Months Ended

Jun. 30, 2016

Common Shares

Common Shares

5.     Common Shares

The Company’s authorized common stock consists of 500,000,000 shares of common stock, with par value of $0.001. 

(a)     On October 14, 2011, the Company issued 40,000,000 shares of its common stock to its former director and officer at $0.002 per share, for net proceeds of $80,000. On March 31, 2015 there were 41 registered holders of record of our common stock due to our sole director and officer selling 15,000,000 common shares under the Company’s effective Form S-1 registration statement to these shareholders. The Company did not receive any proceeds from the sale of these shares. 

(b)     On May 31, 2016, the former Chief Executive Officer and Director of the Company sold 25,000,000 common shares of the Company to the Chief Executive Officer and Director of the Company for proceeds of $25,000 in a private sale. The transaction has no impact on the issued and outstanding common shares of the Company.

(c)     As at June 30, 2016, the Company has 16,636,943 shares issuable to Plateau Ventures LLC (“Plateau”), a non-related party, for the acquisition of the mineral claims as noted in Note 3(b). The common shares are valued at $26,951,848, which is the end of day trading price of the Company’s common shares on June 15, 2016, the date that the shares became issuable to Plateau. Refer to Note 6.