BRAVADA GOLD CORPORATION 1100 - 1199 West Hastings Street,
Vancouver, BC, V6E 3T5
Tel: 604-684-9384
Condensed Consolidated Interim Financial Statements
Nine Months Ended April 30, 2022 and 2021
(Expressed in Canadian Dollars)
(Unaudited)
Index | Page |
Notice of No Auditor Review | 2 |
Condensed Consolidated Interim Financial Statements | |
Condensed Consolidated Interim Statements of Comprehensive Loss | 3 |
Condensed Consolidated Interim Statements of Financial Position | 4 |
Condensed Consolidated Interim Statements of Changes in Equity (Deficit) | 5 |
Condensed Consolidated Interim Statements of Cash Flows | 6 |
Notes to the Condensed Consolidated Interim Financial Statements | 7 - 15 |
NOTICE OF NO AUDITOR REVIEW
The accompanying unaudited condensed consolidated interim financial statements of the Company for the nine months ended April 30, 2022 and comparatives for the nine months ended April 30, 2021 were prepared by management and have not been reviewed or audited by the Company's auditors.
Page 2 of 15
Bravada Gold Corporation
(An Exploration Stage Company)
Condensed Consolidated Interim Statements of Comprehensive Loss
Nine Months Ended April 30, 2022 and 2021
(Expressed in Canadian Dollars, Unaudited)
Three Months Ended | Nine Months Ended | ||||||||
April 30, | April 30, | ||||||||
Note | 2022 | 2021 | 2022 | 2021 | |||||
Operating Expenses | |||||||||
Administration | 6 | $ | 15,000 | $ | 15,000 | $ | 45,000 | $ | 45,000 |
Consulting | 6 | 38,941 | 27,867 | 101,499 | 87,733 | ||||
Exploration and evaluation, net of recoveries | 5 & 6 | 46,356 | 34,968 | 164,152 | 328,814 | ||||
Investor relations | 6 | 28,811 | 27,549 | 60,177 | 106,356 | ||||
Office and general | 6 | 12,234 | 12,282 | 40,697 | 40,635 | ||||
Professional fees | 6 | 9,283 | 21,569 | 55,706 | 72,921 | ||||
Regulatory fees and taxes | 5,200 | 8,345 | 28,891 | 31,776 | |||||
Share-based payments | 7 | 162,902 | 3,690 | 261,325 | 296,805 | ||||
Shareholders' communications | 1,194 | 3,517 | 9,980 | 13,518 | |||||
Transfer agent | 7,483 | 7,584 | 12,039 | 13,588 | |||||
327,404 | 162,371 | 779,466 | 1,037,146 | ||||||
Foreign exchange (gain) loss | (7,193) | (7,319) | (210) | (17,326) | |||||
Impairment of mineral properties | 5 | - | - | 98,159 | 173,078 | ||||
Operator fee income | - | (6) | - | (16,342) | |||||
(7,193) | (7,325) | 97,949 | 139,410 | ||||||
Net Loss and Comprehensive Loss for the Period | $ | 320,211 | $ | 155,046 | $ | 877,415 | $ | 1,176,556 | |
Loss per share - basic and diluted | $ | 0.00 | $ | 0.00 | $ | 0.01 | $ | 0.01 | |
Weighted average number of common shares outstanding | 100,201,142 | 89,138,458 | 97,167,325 | 87,924,498 | |||||
The accompanying notes form an integral part of these condensed consolidated interim financial statements
Page 3 of 15
Bravada Gold Corporation
(An Exploration Stage Company)
Condensed Consolidated Interim Statements of Financial Position
(Expressed in Canadian Dollars, Unaudited)
As at | Note | April 30, 2022 | July 31, 2021 | |
Current Assets | ||||
Cash | $ | 1,603,269 | $ | 119,806 |
Receivables | 21,300 | 3,719 | ||
Marketable securities | 1 | 1 | ||
Prepaid expenses | 42,381 | 20,929 | ||
1,666,951 | 144,455 | |||
Non-Current Assets | ||||
Reclamation bonds | 131,682 | 126,570 | ||
Mineral properties | 5 | 183,764 | 124,475 | |
315,446 | 251,045 | |||
$ | 1,982,397 | $ | 395,500 | |
Current Liabilities | ||||
Accounts payable and accrued liabilities | $ | 426,733 | $ | 303,209 |
Due to related parties | 6 | 443,201 | 347,080 | |
869,934 | 650,289 | |||
Equity (Deficit) | ||||
Share capital | 7 | 21,651,348 | 19,671,421 | |
Share-based payments reserve | 5,098,059 | 5,252,759 | ||
Deficit | (25,636,944) | (25,178,969) | ||
1,112,463 | (254,789) | |||
$ | 1,982,397 | $ | 395,500 | |
Approved on behalf of the Board | ||
"Joseph A. Kizis, Jr." | "G. Ross McDonald" | |
Joseph A. Kizis, Jr. | G. Ross McDonald | |
Director | Director |
The accompanying notes form an integral part of these condensed consolidated interim financial statements
Page 4 of 15
Bravada Gold Corporation
(An Exploration Stage Company)
Condensed Consolidated Interim Statements of Changes in Equity (Deficit) Nine Months Ended April 30, 2022 and 2021
(Expressed in Canadian Dollars, Unaudited)
Share Capital | Share-based | ||||||||
Number | Payments | ||||||||
of Shares | Amount | Reserve | Deficit | Total | |||||
Balance as at July 31, 2020 | 78,946,261 | $ | 18,683,960 | $ | 5,255,341 | $ | (23,876,048) | $ | 63,253 |
Issued | |||||||||
Exercise of warrants | 10,228,098 | 797,360 | - | - | 797,360 | ||||
Mineral property | 350,000 | 71,750 | - | - | 71,750 | ||||
Fair value of warrants exercised | - | 10,601 | (10,601) | - | - | ||||
Fair value of warrants expired | - | - | (1,119) | 1,119 | - | ||||
Fair value of options expired | - | - | (242,389) | 242,389 | - | ||||
Share-based payments | - | - | 296,805 | - | 296,805 | ||||
Net loss | - | - | - | (1,176,556) | (1,176,556) | ||||
Balance as at April 30, 2021 | 89,524,359 | $ | 19,563,671 | $ | 5,298,037 | $ | (24,809,096) | $ | 52,612 |
Balance as at July 31, 2021 | 89,524,359 | $ | 19,671,421 | $ | 5,252,759 | $ | (25,178,969) | $ | (254,789) |
Issued | |||||||||
Private Placements | 41,589,143 | 2,114,940 | - | - | 2,114,940 | ||||
Share issue costs | - | (135,013) | 3,415 | - | (131,598) | ||||
Fair value of options expired | - | - | (419,440) | 419,440 | - | ||||
Share-based payments | - | - | 261,325 | - | 261,325 | ||||
Net loss | - | - | - | (877,415) | (877,415) | ||||
Balance as at April 30, 2022 | 131,113,502 | $ | 21,651,348 | $ | 5,098,059 | $ | (25,636,944) | $ | 1,112,463 |
The accompanying notes form an integral part of these condensed consolidated interim financial statements
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Bravada Gold Corporation published this content on 27 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 June 2022 18:54:10 UTC.
