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
7-13
NOTICE OF NO AUDITOR REVIEW
The accompanying unaudited condensed consolidated interim financial statements of the Company for the three months ended March 31, 2022, and comparatives for the three months ended March 31, 2021, were prepared by management and have not been reviewed or audited by the Company's auditors.
Page 2 of 13
Valterra Resource Corporation
(An Exploration Stage Company)
Condensed Consolidated Interim Statements of Comprehensive Loss
Three Months Ended March 31, 2022 and 2021
(Expressed in Canadian Dollars, Unaudited)
Note
2022
2021
Operating Expenses
Administration
8
$
15,000
$
15,000
Consulting
8
5,903
13,463
Exploration and evaluation
6 & 8
2,557
820
Investor relations
8
1,973
24,591
Office and general
8
10,815
5,490
Professional fees
8
9,984
20,336
Regulatory fees and taxes
6,995
7,863
Share-based payments
-
1,938
Shareholders' communications
590
1,250
Transfer agent
4,477
5,020
58,294
95,771
Foreign exchange (gain) loss
(2,604)
(3,185)
Unrealized (gain) loss on marketable securities
5
(50)
(450)
(2,654)
(3,635)
Net Loss and Comprehensive Loss for the Peiod
$
55,640
$
92,136
Loss per share - basic and diluted
$
0.00
$
0.00
Weighted average number of common shares
outstanding
82,405,144
61,635,144
The accompanying notes are an integral part of these condensed consolidated interim financial statements
Page 3 of 13
Valterra Resource Corporation
(An Exploration Stage Company)
Condensed Consolidated Interim Statements of Financial Position
(Expressed in Canadian Dollars, Unaudited)
March 31
December 31
As at
Note
2022
2021
Assets
Current
Cash
$
253,395
$
284,586
Receivables
2,358
3,303
Marketable securities
5
11,032
3,450
Prepaids
3,500
10,061
270,285
301,400
Non-current
Mineral properties
6
-
-
Reclamation bonds
12,000
12,000
Other investment
7
2,400,000
2,400,000
2,412,000
2,412,000
$
2,682,285
$
2,713,400
Liabilities
Current
Accounts payable and accrued liabilities
6
$
754,912
$
715,440
Due to related parties
8
638,561
653,508
1,393,473
1,368,948
Equity
Share capital
10
18,109,271
18,109,271
Share-based payments reserve
678,373
865,762
Warrant reserve
20,675
20,675
Deficit
(17,519,507)
(17,651,256)
1,288,812
1,344,452
$
2,682,285
$
2,713,400
Approved on behalf of the Board
"Lawrence Page"
"Brian McGrath"
The accompanying notes are an integral part of these condensed consolidated interim financial statements
Page 4 of 13
Valterra Resource Corporation
(An Exploration Stage Company)
Condensed Consolidated Interim Statements of Changes in Equity (Deficit) Three Months Ended March 31, 2022 and 2021
(Expressed in Canadian Dollars, Unaudited)
Share Capital
Share-based
Total
Number
Payments
Warrant
Equity
of Shares
Amount
Reserve
Reserve
Deficit
(Deficit)
Balance as at December 31, 2020
61,635,144
$ 17,247,842
$
609,461
$
257,308
$ (16,789,002)
$
1,325,609
Share-based payments
-
-
1,938
-
-
1,938
Fair value of warrants expired
-
-
(758)
(38,768)
39,526
-
Net loss
-
-
-
-
(92,136)
(92,136)
Balance as at March 31, 2021
61,635,144
$ 17,247,842
$
610,641
$
218,540
$ (16,841,612)
$
1,235,411
Balance as at December 31, 2021
82,405,111
$ 18,109,271
$
865,762
$
20,675
$ (17,651,256)
$
1,344,452
Fair value of options expired
-
-
(187,389)
-
187,389
-
Net loss
-
-
-
-
(55,640)
(55,640)
Balance as at March 31, 2022
82,405,111
$ 18,109,271
$
678,373
$
20,675
$ (17,519,507)
$
1,288,812
The accompanying notes are an integral part of these condensed consolidated interim financial statements
Page 5 of 13
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Valterra Resource Corporation published this content on 27 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 May 2022 08:41:30 UTC.
Nickelex Resource Corporation, formerly Valterra Resource Corporation, is a Canada-based resource group company. It is engaged in providing exploration, administration, and corporate development services for its operations. Its operations include Swift Katie gold/copper property and Thompson, Manitoba nickel properties. Its 100%-owned porphyry/shear-hosted Cu-Au-Ag Swift Katie property is located approximately seven kilometers (km) south-west (SW) of the village of Salmo, British Columbia (BC). The property consists of over 19 contiguous MTO mineral claims, which covers an area of approximately 83 square km. It has an option to earn up to an 80% interest in the Moak North and Wilson Mineral Exploration Licenses in the Thompson Nickel Belt (TNB), Manitoba (the licenses). The four licenses are located 30 km north of the Thompson Nickel Mine and cover an area of approximately 30,283 hectares. The Company, through Pilar Gold Inc. and Laiva Gold Inc., has operations in Brazil and Finland.