Capital Structure

December 2021

Shares Outstanding 161,677,735
Fully Diluted 223,696,983
Estimated Cash C$1.1M
Debt None
Top Shareholders (partially diluted) 17% Tectonic Team
15% Doyon Limited
31% Various Resource Focused Funds
Most Recent Financings 2021: C$7,100,000 Raised ($0.10 Unit = 1 common share + 1 half 2-yr warrant at $0.17)
2020: C$4,900,000 Raised ($0.20 Unit = 1 common share + 1 half 2-yr warrant at $0.40)
2020: C$2,100,000 Raised (Doyon: $0.20 Unit = 1 common share + 1 half 2-yr warrant at $0.40)
2019: C$5,800,000 Raised ($0.35 Unit = 1 common share + 1 full 2-yr warrant at $0.50)
Warrants Outstanding 35,880,280 @ $0.17 (Expiry June 23, 2023)
2,765,578 @ $0.17 (Expiry June 23, 2023)
5,236,500 @ $0.40 (Expiry April 17, 2022)
956,130 @ $0.20 (Expiry June 30, 2022)
12,307,750 @ $0.40 (Expiry June 30, 2022)
Insider Warrants Outstanding 720,000 @ $0.10 (Expiry June 16, 2022)
3,380,000 @ $0.25 (Expiry June 16, 2022)
Options Outstanding 200,000 @ $0.16 (Expiry April 30, 2031)
400,000 @ $0.20 (Expiry August 4, 2026)
50,000 @ $0.18 (Expiry June 03, 2026)
400,000 @ $0.33 (Expiry 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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