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6. Common Shares
3 Months Ended
Dec. 31, 2017
Notes  
6. Common Shares

6.     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 December 29, 2017, the Company issued 19,700,000 common shares with a fair value of $1,970,000 for services, including 5,000,000 common shares to the Chief Executive Officer of the Company, and 4,000,000 common shares to directors of the Company. In addition, the Company also issued 1,000,000 common shares to the Chief Executive Officer of the Company to replace the common shares that were previously issued in error and cancelled on December 18, 2017.

 

(b)   On December 18, 2017, the Company cancelled 1,000,000 common shares issued to the Chief Executive Officer of the Company which was previously issued in error.

 

(c)   On December 5, 2017, the Company issued 578,696 common shares with a fair value of $63,657 as part of a conversion of convertible notes payable at $0.11 per share.

 

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

 

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

 

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

 

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

 

(i)    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.

 

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

 

(k)   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 $252,000 and the return of the previously issued 636,943 shares of common stock. Refer to Note 3.