Capital Structure

July 2021

Shares Outstanding 161,677,735
Fully Diluted 190,449,281
Cash (as of June 31, 2021) $8.6M
Debt None
Top Shareholders (partially diluted) 17% Tectonic Team
15% Doyon Limited
31% Various Resource Focused Funds
Most Recent Financings 2021: $7.1M private placement @ $0.10 + 1 half 2-year warrant @ $0.17
2020: $4.9M private placement @ $0.20 + 1 half 2-year warrant @ $0.40
2020: $2.1M Doyon private placement @ $0.20 + 1 half 2-year warrant @ $0.40
2019: $5.8M private placement @ $0.35 + 1 full 2-year warrant @ $0.50
Insider Warrants Outstanding 720,000 @ $0.10 (Expiry Date: June 16, 2022)
3,380,000 @ $0.25 (Expiry Date: June 16, 2022)
Warrants Outstanding 35,880,780 @ $0.17 (Expiry Date: June 23, 2023)
235,978 @ $0.35 (Expiry Date: September 26, 2021)
9,812,618 @ $0.50 (Expiry Date: September 26, 2021)
5,236,500 @ $0.40 (Expiry Date: April 17, 2022)*
956,130 @ $0.20 (Expiry Date: June 30, 2022)
12,307,750 @ $0.40 (Expiry Date: June 30, 2022)*
Options Outstanding 450,000 @ $0.18 (Expiry Date: June 03, 2026)
400,000 @ $0.33 (Expiry Date: July 27, 2025)

*Accelerated exercise clause: If shares have traded at or above $0.56 on the TSX Venture Exchange for 10 consecutive trading days, Tectonic may give notice that the warrant will expire, if not exercised, within 30 days from the date of issuance of a news release announcing the acceleration

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