v3.26.3
CONDENSED CONSOLIDATED INTERIM BALANCE SHEETS - USD ($)
Aug. 31, 2026
Nov. 30, 2025
Current assets    
Cash $ 25,466,623 $ 1,301,928
Prepaid expenses 715,693 162,897
Total current assets 26,182,316 1,464,825
Restricted cash 191,074  
Deposits 71,506 71,506
Property, plant and equipment, net 286,612  
Intangible asset, net 99,317 65,915
Mineral rights 12,755,725 1,201,390
Right of use assets - operating leases, net 665,545 84,326
Total assets 40,252,095 2,887,962
Current liabilities    
Accounts payable and accrued liabilities 332,733 530,339
Due to related parties 15,919 280,025
Dividends payable 772,230  
Lease liabilities - operating leases, current 144,572 33,155
Total current liabilities 1,265,454 843,519
Warrant liability 13,850,000  
Lease liabilities - operating leases, non-current 548,220 55,086
Total liabilities 15,663,674 898,605
Commitments and contingencies (Note 12)
Mezzanine equity    
Redeemable stock   300,000
Stockholders' equity (deficit)    
Common stock, $0.0001 par value, 300,000,000 shares authorized; 29,683,966 shares issued and outstanding as of August 31, 2026 ($0.0001 par value, 350,000,000 shares authorized; 18,888,289 shares issued and outstanding, excluding 2,750,000 shares subject to possible redemption as of November 30, 2025) [1] 2,968 1,889
Preferred stock, $0.0001 par value, 3,500,000 shares authorized; none issued and outstanding as of August 31, 2026, excluding 29,700 shares designated to Series A Cumulative Preferred Stock ($0.0001 par value, 50,000,000 shares authorized; none issued and outstanding as of November 30, 2025)
Additional paid-in capital [1] 26,189,754 7,968,157
Accumulated deficit (28,468,577) (6,280,689)
Total stockholders' equity (deficit) (2,275,855) 1,689,357
Total liabilities, mezzanine equity and stockholders' equity (deficit) 40,252,095 2,887,962
Common stock, subject to possible redemption    
Mezzanine equity    
Redeemable stock [2]   $ 300,000
Series A cumulative preferred stock, redeemable    
Current liabilities    
Dividends payable 772,230  
Mezzanine equity    
Redeemable stock $ 26,864,276  
[1] The shares of the Company’s common stock, prior to the de-SPAC (as defined in Note 1) have been retroactively restated to reflect the exchange ratio of approximately 5.8349:1 established in the de-SPAC, as described in Note 3.
[2] The shares of the Company’s common stock, prior to the de-SPAC (as defined in Note 1) have been retroactively restated to reflect the exchange ratio of approximately 5.8:1 established in the de-SPAC, as described in Note 3.