Stockholders’ Equity |
9 Months Ended | |||
|---|---|---|---|---|
Sep. 30, 2026 | ||||
| Equity [Abstract] | ||||
| Stockholders’ Equity |
The authorized common stock of the Company consists of an unlimited number of common shares without par value. The Company’s common stock has no par value. All proceeds received for the issuance of common stock are attributed to common stock on the Company’s consolidated balance sheets. The relative fair value of issued share purchase warrants is recognized as part of Additional paid-in capital.
2025 Financings – common shares and warrants
On January 6, 2025, the Company closed a financing, raising $ by issuing common shares and common share purchase warrants with an exercise price of $ with an expiry date of January 6, 2027.
On January 14, 2025, the Company closed a financing by issuing common shares.
On January 22, 2025, the Company closed a financing, raising $ by issuing common shares and common share purchase warrants with an exercise price of $ with an expiry date of January 22, 2027.
On February 10, 2025, the Company closed a financing, raising $ by issuing common shares and common share purchase warrants with an exercise price of $ with an expiry date of February 10, 2027.
On February 20, 2025, the Company closed a financing, raising $ by issuing common shares and common share purchase warrants with an exercise price of $ with an expiry date of February 20, 2027.
On March 10, 2025, the Company closed a financing, raising $ net of issue costs by issuing common shares and common share purchase warrants with an exercise price of $ with an expiry date of March 10, 2027.
2025 Restricted Stock Units (“RSUs”)
On February 1, 2025, the Company granted RSUs to the Chief Executive Officer. These RSUs vested immediately. These RSUs were subsequently distributed on April 1, 2025.
2025 Warrant exercises
On February 14, 2025, the Company issued common shares pursuant to warrant exercises, raising $3,544,177 at a price of $ per share.
On August 11 and 18, 2025, the Company issued common shares pursuant to warrant exercises, raising $600,000 at a price of $ per share.
On September 18, 2025, the Company issued common shares pursuant to warrant exercises raising $525,000 at a price of $ per share.
2026 Financings – initial public offering (“IPO”)
On May 1, 2026 the Company completed an IPO of million shares of common stock at a price of $ per share. The Company received net proceeds of $55,084,383 after deducting underwriting discounts, commissions, and offering expenses.
These proceeds are intended to be used to continue exploration of the Company’s mineral deposits, as well as for working capital and general corporate purposes. The common shares sold in the IPO were registered under the Securities Act of 1933, as amended, pursuant to registration statements on Form S-1 (Nos. 333-292928 and 333-295418). The Company’s common shares began trading on the NYSE American LLC on April 30, 2026.
2026 Warrant exercises
On January 28, 2026, the Company issued common shares pursuant to warrants exercises, raising $20,000 at a price of $ per share.
On February 20, 2026, the Company issued common shares pursuant to warrants exercises, raising $40,000 at a price of $5.00 per share.
On March 18, 2026, the Company issued common shares pursuant to warrants exercises, raising $140,000 at a price of $ per share.
On March 23, 2026, the Company issued common shares pursuant to warrants exercises, raising $540,000 at a price of $ per share.
On March 24, 2026, the Company issued common shares pursuant to warrants exercises, raising $100,000 at a price of $ per share.
On April 26, 2026, the Company issued common shares pursuant to warrant exercises, raising $60,000 at a price of $ per share.
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