XML 19 R12.htm IDEA: XBRL DOCUMENT v3.8.0.1
6. Common Shares
12 Months Ended
Sep. 30, 2017
Notes  
6. Common Shares

6.     Common Shares

 

Authorized: 500,000,000 shares of common stock, with par value of $0.001.

 

Year Ended September 30, 2016

 

(a)   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.

 

(b)   On June 15, 2016, the Company acquired mineral properties in Nye County, Nevada from Plateau Ventures LLC (“Plateau”), a non-related party, in exchange for the issuance of 636,943 common shares of the Company with a fair value of $1,031,848, which is the end of day trading price of the Company’s common shares on the date of the agreement which was the date that the shares became issuable.  In addition, the Company issued 16,000,000 common shares with a fair value of $25,920,000 to individuals for no consideration received.

 

(c)   On August 19, 2016, the Company issued 500,000 common shares with a fair value of $425,000 to a consultant for services. The fair value of the common shares is based on the end of day trading price of the Company’s common shares on the date of issuance.

 

Year Ended September 30, 2017

 

(a)   On November 8, 2016, the Company issued 2,000,000 shares of common stock with a fair value of $600,000. The shares were issued as part of a settlement agreement related to the purchase of the Nye County properties, in which, the parties settled on payment of $252,500 and the return of the previously issued 636,943 shares of common stock.  Refer to Note 3.

 

(b)   On January 31, 2017, the Company issued 300,000 shares of common stock with a fair value of $87,000 for consulting services.

 

(c)   On February 8, 2017, the Company issued 400,000 shares of common stock with a fair value of $96,000 to settle outstanding accounts payable of $60,000 resulting in a $36,000 loss on settlement of debt.

 

(d)   On February 16, 2017, the Company received 2,000,000 common shares which were cancelled and returned to treasury. Refer to Note 7.

 

(e)   On February 16, 2017, the Company issued 500,000 common shares with a fair value of $130,000 for services.

 

(f)   On February 23, 2017, the Company issued 300,000 common shares with a fair value of $75,000 for legal services.

 

(g)   On February 24, 2017, the Company received 636,943 common shares which were cancelled and returned to treasury. Refer to Note 3.

 

(h)   On July 31, 2017, the Company issued 500,000 common shares with a fair value of $65,000 for professional services.