Vision Lithium : Financial Statement November 30, 2022

Vision Lithium Inc.

Unaudited Interim Financial Statements

As at November 30, 2022

NOTICE OF DISCLOSURE OF NON-AUDITOR REVIEW OF INTERIM FINANCIAL STATEMENTS

Under National Instrument 51-102, Part 4, subsection 4.3(3)(a), if an auditor has not performed a review of the interim financial statements, they must be accompanied by a notice indicating that the financial statements have not been reviewed by an auditor.

The accompanying unaudited interim financial statements of the Company have been prepared by and are the responsibility of the Company's management.

The Company's independent auditor has not performed a review of these financial statements in accordance with standards established by the Canadian Institute of Chartered Accountants for a review of interim financial statements by an entity's auditor.

Vision Lithium Inc.

Consolidated Statements of Financial Position

(in Canadian dollars)

	Notes
ASSETS
Current
Cash	5
Guaranteed investment certificates, 0.75% - 1.70%, expiring between May
and July 2023
Accounts receivable
Sales taxes receivable
Tax credits receivable
Prepaid expenses
Marketable securities in quoted mining exploration companies
Non-current
Property and equipment
Right-of-use assets	6
Exploration and evaluation assets	7
Total assets
LIABILITIES
Current
Trade and other payables
Current portion of lease obligations	8
Non-current
Lease obligations	8
Loan	9

Total liabilities

EQUITY

November 30,		August 31,
2022	2022
(Unaudited)		(Audited)
$	$
547,951	744,605
277,171	779,942
-	-
94,186	92,731
56,778	2,184
64,080	35,433
758		758
1,040,924	1,655,653
14,420	16,270
39,068	47,038
19,092,758		18,514,854
19,146,246		18,578,162
20,187,170	20,233,815
206,500	358,417
27,992		31,252
234,492	389,669
9,541	14,252
40,000		40,000
49,541	54,252
284,033		443,921

Share capital	10.1	56,103,366	55,648,956
Contributed surplus		5,911,876	5,394,952
Deficit		(42,112,105)		(41,254,014)
Total equity		19,903,137		19,789,894
Total liabilities and equity		20,187,170	20,233,815

The accompanying notes are an integral part of these interim consolidated financial statements.

These interim consolidated financial statements were approved and authorized for issue by the Board of Directors on January 26, 2023.

Approved on behalf of the Board of Directors

(signed) Yves Rougerie, Director

(signed) Victor Cantore, Director

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Vision Lithium Inc.

Consolidated Statements of Net Loss and Comprehensive Loss

(in Canadian dollars)
		Three-month period ended
		November 30,		November 30,
	Notes	2022		2021
		$	$
Expenses
Employee benefits expense	11.1	600,278	67,062
Insurance, taxes and permits		6,003	8,198
Consulting fees		127,325	45,000
Professional fees		38,765	36,300
Rent and maintenance		6,360	6,240
Business development		56,259	23,168
Advertising and sponsorship		8,087	-
Stationery and office expenses		6,376	4,933
Travel, board and lodging		1,453	3,863
Registration fees		4,567	4,185
Write-off of exploration and evaluation assets		363	350
Exploration costs of other properties (1)		-	149
Bank charges		731	825
Amortization of property and equipment		453	991
Amortization of right-of-use assets		2,036		1,318
Operating loss		859,056	202,582
Other (income) expenses
Finance income	13	(1,106)	(974)
Finance cost	13	141	238
Net change in fair value of marketable securities in quoted
mining exploration companies		-	(170)
Other revenues		-		(2,028)
		(965)		(2,934)
Loss before income taxes		(858,091)	(199,648)
Deferred income tax		-		78,755
Net loss and total of comprehensive loss for the period		(858,091)	(120,893)
Loss per share
Basic and diluted net loss per share	15	(0.00)		(0.00)

1. For the three-month period ended November 30, 2022 and 2021, no amount was recorded for tax credits as a reduction of exploration costs of other properties.

The accompanying notes are an integral part of these consolidated financial statements.

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Vision Lithium Inc.

Consolidated Statements of Changes in Equity

(in Canadian dollars)

	Notes
		Share capital		Contributed				Total
		Number		Amount		surplus		Deficit		equity
			$	$	$	$
Balance as at September 1st, 2021		209,802,485		53,521,536		4,755,693		(39,460,152)		18,817,077
Warrants exercised	10.2	16,500		980,100		(155,100)		-		825,000
		16,500	980,100	(155,100)	-	825,000
Net loss and total of comprehensive loss for the
period		-	-	-	(120,893)	(120,893)
Balance as at November 30, 2021		209,818,985		54,501,636		4,600,593		(39,581,045)		19,521,184
Issuance of shares for the acquisition of mining	10.1
rights		4,550,000	981,000			-	981,000
Share-based payments	11.2	-	-	820,679	-	820,679
Warrants exercised	10.2	2,800,000		166,320		(26,320)		-		140,000
		7,350,000	1,147,320	794,359	-	1,941,679
Net loss and total of comprehensive loss for the
period		-	-	-	(1,672,969)	(1,672,969)
Balance as at August 31, 2022		217,168,985		55,648,956		5,394,952		(41,254,014)		19,789,894
Share-based payments	11.2	-	-	588,834	-	588,834
Warrants exercised	10.2	7,650,000	454,410	(71,910)	-	382,500
		7,650,000	454,410	516,924	-	971,334
Net loss and total of comprehensive loss for the		-	-	-	(858,091)	(858,091)
period
Balance as at November 30, 2022		224,818,985		56,103,366		5,911,876		(42,112,105)		19,903,137

The accompanying notes are an integral part of these interim consolidated financial statements.

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