LUCKY MINERALS INC. LUCKY MINERALS INC.
CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
NINE MONTHS ENDED JULY 31, 2022 AND 2021
(Unaudited - Expressed in Canadian Dollars)
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NOTICE TO READER
The accompanying unaudited condensed interim consolidated financial statements have been prepared by and are the responsibility of the management of Lucky Minerals Inc.
Lucky Minerals Inc.'s independent auditor has not performed a review of these unaudited condensed interim consolidated financial statements in accordance with the standards established by the Chartered Professional Accountants of Canada for a review of condensed interim financial statements by an entity's auditor.
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LUCKY MINERALS INC.
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Unaudited - Expressed in Canadian dollars)
July 31, | October 31, | ||
Note | 2022 | 2021 | |
($) | ($) | ||
ASSETS | |||
Current assets | |||
Cash and cash equivalents | 2,182,743 | 1,942,430 | |
Subscription receivable | - | 353,000 | |
Prepaid and other receivables | 435,381 | 281,609 | |
2,618,124 | 2,577,039 | ||
Equipment and right-of-use asset | 72,833 | 54,574 | |
Exploration and evaluation assets | 4 | 6,441,263 | 5,599,709 |
TOTAL ASSETS | 9,132,220 | 8,231,322 | |
LIABILITIES AND SHAREHOLDERS' EQUITY | |||
Current liabilities | |||
Accounts payable and accrued liabilities | 5, 9 | 376,190 | 374,946 |
Lease liability | 6,667 | 20,484 | |
382,857 | 395,430 | ||
Non-current liabilities | |||
Lease liability | 28,323 | 28,323 | |
Convertible debenture liability | 6 | 1,345,730 | 1,448,149 |
TOTAL LIABILITIES | 1,756,910 | 1,871,902 | |
Shareholders' equity | |||
Share capital | 7 | 23,145,065 | 19,399,202 |
Reserves | 4,567,263 | 4,220,571 | |
Deficit | (20,337,018) | (17,260,353) | |
TOTAL SHAREHOLDERS' EQUITY | 7,375,310 | 6,359,420 | |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 9,132,220 | 8,231,322 |
Nature of operations and going concern (Note 1)
Subsequent events (Note 11)
Approved and authorized for issuance by the Board of Directors on September 27, 2022
"François Perron" | "Robert Rosner" |
François Perron | Robert Rosner |
President, CEO, Director | Director |
The accompanying notes are an integral part to the condensed interim consolidated financial statements
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LUCKY MINERALS INC.
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS (Unaudited - Expressed in Canadian
dollars)
Three months | Three months | Nine months | Nine months | ||
July 31 | July 31 | July 31, | July 31, | ||
Note | 2022 | 2021 | 2022 | 2021 | |
Expenses | |||||
Amortization | 4,712 | - | 16,734 | - | |
Consulting | 9 | 53,320 | 55,465 | 189,860 | 259,439 |
Directors' fees | 9 | 35,000 | 52,500 | 105,000 | 127,500 |
Exploration and evaluation | 1,161,827 | 247,764 | 2,107,216 | 538,936 | |
Management | 9 | 76,749 | - | 76,713 | - |
Office and administration | (123,712) | 77,511 | (115,872) | 200,191 | |
Professional fees | 48,355 | 23,896 | 209,785 | 261,904 | |
Salaries and wages | 9 | (5,243) | 104,401 | 77,837 | 344,459 |
Shareholder communication | 97,700 | 63,466 | 285,978 | 167,752 | |
Share-based compensation | 9 | - | - | - | 45,237 |
Transfer agent and regulatory fees | 14,392 | 4,049 | 57,803 | 41,064 | |
Travel | 2,706 | - | 4,909 | 71 | |
Loss before other items: | |||||
(1,365,806) | (629,052) | (3,169,497) | (1,986,553) | ||
Accretion and interest expense | 6 | (88,876) | (129,227) | (250,336) | (357,352) |
Change in fair value for derivative | |||||
liability | 6 | 138,981 | 20,782 | 343,168 | 60,542 |
Loss on lease modification | - | - | - | (909) | |
Net loss and comprehensive Loss | (1,315,701) | (737,497) | (3,076,665) | (2,284,272) | |
Loss per share, basic and diluted | (0.01) | (0.01) | (0.02) | (0.04) | |
Weighted average number of | |||||
outstanding shares | 170,754,316 | 64,739,795 | 149,553,645 | 64,751,191 |
The accompanying notes are an integral part to the condensed interim consolidated financial statements
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LUCKY MINERALS INC.
CONDENSED INTERIM CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited - Expressed in Canadian dollars)
Common shares | Reserves | |||||
Shareholders' | ||||||
Number | Amount | Options | Warrants | Deficit | Equity | |
(#) | ($) | ($) | ($) | ($) | ($) | |
Balance, October 31, 2020 | 46,153,560 | 13,421,838 | 2,915,523 | 643,813 | (13,276,188) | 3,704,986 |
Shares issuance on private placement, net of shares issuance | 30,605,600 | 2,249,905 | - | 58,574 | - | 2,308,479 |
costs | ||||||
Shares issued in lieu of cash for convertible debenture | 200,726 | 21,076 | - | - | - | 21,076 |
interest payment | ||||||
Service paid in shares | 266,667 | 24,000 | - | - | - | 24,000 |
Share-based compensation | - | - | 45,237 | - | - | 45,237 |
Net loss and comprehensive loss | - | - | - | - | (2,284,272) | (2,284,272) |
Balance, July 31, 2021 | 77,226,553 | 15,716,819 | 2,960,760 | 702,387 | (15,560,460) | 3,819,506 |
Shares issuance on private placement, net of shares issuance | 48,948,000 | 3,681,754 | - | 40,923 | - | 3,722,677 |
costs | ||||||
Shares issued for exercise of warrants | 4,900 | 629 | - | (237) | - | 392 |
Share-based compensation | - | - | 516,738 | - | - | 516,738 |
Net loss and comprehensive loss | - | - | - | - | (1,699,893) | (1,699,893) |
Balance, October 31, 2021 | 126,179,453 | 19,399,202 | 3,477,498 | 743,073 | (17,260,353) | 6,359,420 |
Shares issuance on private placement, net of shares issuance | 58,067,564 | 3,676,496 | - | 335,299 | - | 4,011,795 |
costs | ||||||
Share issuance costs - cash | - | (90,160) | - | - | - | (90,160) |
Share issuance costs - warrants | - | (11,393) | - | 11,393 | - | - |
Service paid in shares | 1,615,867 | 165,013 | - | - | - | 165,013 |
Shares issued in lieu of cash for convertible debenture | 84,380 | 5,907 | - | - | - | 5,907 |
interest payment | ||||||
Net loss and comprehensive loss | - | - | - | - | (3,076,665) | (3,076,665) |
Balance, July 31, 2022 | 185,947,264 | 23,145,065 | 3,477,498 | 1,089,765 | (20,337,018) | 7,375,310 |
The accompanying notes are an integral part to the condensed interim consolidated financial statements
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Lucky Minerals Inc. published this content on 27 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 October 2022 15:13:25 UTC.
