2022 Q4 Form 20-F Financial Statement
#000160706223000281 Filed on May 15, 2023
Income Statement
| Concept | 2022 Q4 | 2022 |
|---|---|---|
| Revenue | $0.00 | $0.00 |
| YoY Change | ||
| Cost Of Revenue | ||
| YoY Change | ||
| Gross Profit | ||
| YoY Change | ||
| Gross Profit Margin | ||
| Selling, General & Admin | $42.50K | $84.44K |
| YoY Change | 42.67% | 5.55% |
| % of Gross Profit | ||
| Research & Development | ||
| YoY Change | ||
| % of Gross Profit | ||
| Depreciation & Amortization | ||
| YoY Change | ||
| % of Gross Profit | ||
| Operating Expenses | $42.50K | $84.44K |
| YoY Change | 42.62% | 5.55% |
| Operating Profit | ||
| YoY Change | ||
| Interest Expense | -$13.45K | -$40.60K |
| YoY Change | 4.02% | 1.5% |
| % of Operating Profit | ||
| Other Income/Expense, Net | ||
| YoY Change | ||
| Pretax Income | -$57.46K | -$125.0K |
| YoY Change | -94.08% | -87.98% |
| Income Tax | ||
| % Of Pretax Income | ||
| Net Earnings | -$57.46K | -125.0K cads |
| YoY Change | -94.08% | -87.98% |
| Net Earnings / Revenue | ||
| Basic Earnings Per Share | ||
| Diluted Earnings Per Share | -$0.01 | -$0.03 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 5.746M shares | |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2022 Q4 | 2022 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $120.00 | $120.00 |
| YoY Change | -92.55% | |
| Cash & Equivalents | ||
| Short-Term Investments | ||
| Other Short-Term Assets | ||
| YoY Change | ||
| Inventory | ||
| Prepaid Expenses | ||
| Receivables | ||
| Other Receivables | ||
| Total Short-Term Assets | $1.680K | $1.680K |
| YoY Change | -20.38% | |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $54.00K | $54.00K |
| YoY Change | ||
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | ||
| YoY Change | ||
| Total Long-Term Assets | 54.00K cads | $54.00K |
| YoY Change | ||
| TOTAL ASSETS | ||
| Total Short-Term Assets | $1.680K | $1.680K |
| Total Long-Term Assets | 54.00K cads | $54.00K |
| Total Assets | 55.68K cads | $55.68K |
| YoY Change | 2539.0% | |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $176.2K | $176.2K |
| YoY Change | 17.44% | 17.44% |
| Accrued Expenses | ||
| YoY Change | ||
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $650.8K | $650.8K |
| YoY Change | 18.9% | 18.32% |
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $826.9K | $826.9K |
| YoY Change | 18.59% | 18.13% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | ||
| YoY Change | ||
| Total Long-Term Liabilities | $0.00 | $0.00 |
| YoY Change | ||
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $826.9K | $826.9K |
| Total Long-Term Liabilities | $0.00 | $0.00 |
| Total Liabilities | 826.9K cads | $826.9K |
| YoY Change | 18.59% | 18.13% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | ||
| YoY Change | ||
| Common Stock | ||
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | -$771.2K | -$771.2K |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $55.68K | $55.68K |
| YoY Change | 2538.86% |
Cashflow Statement
| Concept | 2022 Q4 | 2022 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$57.46K | -125.0K cads |
| YoY Change | -94.08% | -87.98% |
| Depreciation, Depletion And Amortization | ||
| YoY Change | ||
| Cash From Operating Activities | -$8.920K | -$35.70K |
| YoY Change | -82.37% | -28.6% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $13.28K | $53.00K |
| YoY Change | ||
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | ||
| YoY Change | ||
| Cash From Investing Activities | -$13.28K | -$53.00K |
| YoY Change | ||
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 23.09K | 87.21K |
| YoY Change | -53.85% | 74.42% |
| NET CHANGE | ||
| Cash From Operating Activities | -8.920K | -35.70K |
| Cash From Investing Activities | -13.28K | -53.00K |
| Cash From Financing Activities | 23.09K | 87.21K |
| Net Change In Cash | 890.0 | -1.490K |
| YoY Change | -256.14% | |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$8.920K | -$35.70K |
| Capital Expenditures | $13.28K | $53.00K |
| Free Cash Flow | -$22.20K | -$88.70K |
| YoY Change | -56.13% | 77.4% |
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| CY2021 | ifrs-full |
Cash Flows From Used In Operating Activities
CashFlowsFromUsedInOperatingActivities
|
-48427 | cad |
| CY2020 | ifrs-full |
Cash Flows From Used In Operating Activities
CashFlowsFromUsedInOperatingActivities
|
-29 | cad |
| CY2022 | ifrs-full |
Purchase Of Property Plant And Equipment Classified As Investing Activities
PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities
|
53001 | cad |
| CY2022 | ifrs-full |
Cash Flows From Used In Investing Activities
CashFlowsFromUsedInInvestingActivities
|
-53001 | cad |
| CY2022 | hhhef |
Private Placement Net Of Share Issue Costs
PrivatePlacementNetOfShareIssueCosts
|
48000 | cad |
| CY2021 | ifrs-full |
Payments For Share Issue Costs
PaymentsForShareIssueCosts
|
254 | cad |
| CY2021 | hhhef |
Proceeds From Loan Payable
ProceedsFromLoanPayable
|
50000 | cad |
| CY2022 | ifrs-full |
Cash Advances And Loans From Related Parties
CashAdvancesAndLoansFromRelatedParties
|
64200 | cad |
| CY2021 | ifrs-full |
Cash Advances And Loans From Related Parties
CashAdvancesAndLoansFromRelatedParties
|
44240 | cad |
| CY2022 | ifrs-full |
Cash Repayments Of Advances And Loans From Related Parties
CashRepaymentsOfAdvancesAndLoansFromRelatedParties
|
24986 | cad |
| CY2021 | ifrs-full |
Cash Repayments Of Advances And Loans From Related Parties
CashRepaymentsOfAdvancesAndLoansFromRelatedParties
|
43957 | cad |
| CY2022 | ifrs-full |
Cash Flows From Used In Financing Activities
CashFlowsFromUsedInFinancingActivities
|
87214 | cad |
| CY2021 | ifrs-full |
Cash Flows From Used In Financing Activities
CashFlowsFromUsedInFinancingActivities
|
50029 | cad |
| CY2022 | ifrs-full |
Increase Decrease In Cash And Cash Equivalents
IncreaseDecreaseInCashAndCashEquivalents
|
-1489 | cad |
| CY2021 | ifrs-full |
Increase Decrease In Cash And Cash Equivalents
IncreaseDecreaseInCashAndCashEquivalents
|
1602 | cad |
| CY2020 | ifrs-full |
Increase Decrease In Cash And Cash Equivalents
IncreaseDecreaseInCashAndCashEquivalents
|
-29 | cad |
| CY2021Q4 | ifrs-full |
Cash
Cash
|
1611 | cad |
| CY2020Q4 | ifrs-full |
Cash
Cash
|
9 | cad |
| CY2019Q4 | ifrs-full |
Cash
Cash
|
38 | cad |
| CY2022Q4 | ifrs-full |
Cash
Cash
|
122 | cad |
| CY2021Q4 | ifrs-full |
Cash
Cash
|
1611 | cad |
| CY2020Q4 | ifrs-full |
Cash
Cash
|
9 | cad |
| CY2022 | hhhef |
Disclosure Of General Informations About Financial Statements Explanatory
DisclosureOfGeneralInformationsAboutFinancialStatementsExplanatory
|
<p id="xdx_807_ecustom--DisclosureOfGeneralInformationsAboutFinancialStatementsExplanatory_znyiYef1hAaa" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. <span id="xdx_82C_zavBwV1W7pHg">NATURE OF BUSINESS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">37 Capital Inc. (“37 Capital” or the “Company”) was incorporated on <span id="xdx_905_edei--EntityIncorporationDateOfIncorporation_dd_c20220101__20221231_z9D3gH8MWYs5" title="Entity Incorporation, Date of Incorporation">August 24, 1984</span> in British Columbia, Canada. The principal business of the Company is the acquisition, exploration, and if warranted, the development of natural resource prospects.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The shares of the Company trade on the Canadian Securities Exchange (the “Exchange”) under the symbol “JJJ.X”, and trade on the OTC Pink tier of the OTC markets in the United States of America under the symbol “HHHEF”. The Company’s office is located at 303 – 570 Granville Street, Vancouver, British Columbia, Canada, V6C 3P1 and its registered office is located at 3200-650 West Georgia Street, Vancouver BC V6B 4P7.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective June 15, 2021, the Company consolidated its capital stock on the basis of 5 pre-consolidation common shares to 1 post-consolidation common share. All the figures as to the number of common shares, stock options, warrants, prices of issued shares, exercise prices of stock options and warrants, as well as loss per share, in the financial statements are post-consolidation amounts and the prior year comparatives have been retroactively restated to present the post- consolidation amounts.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In March 2020, the World Health Organization declared coronavirus (“COVID-19”) a global pandemic, which has caused significant wide-spread adverse, financial impact. The novel strains of coronavirus have caused and are continuing to cause disruptions globally. As the Company has no material operating income or cash flows, it is reliant on additional financing to fund its operations. An extended disruption that may be caused by the novel strains of coronavirus can affect the Company’s ability to obtain additional financing. The impact on the economy and the Company is not yet determinable.</span></p> | |
| CY2022 | dei |
Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
|
1984-08-24 | |
| CY2022 | ifrs-full |
Disclosure Of Going Concern Explanatory
DisclosureOfGoingConcernExplanatory
|
<p id="xdx_803_eifrs-full--DisclosureOfGoingConcernExplanatory_zWlMiCNtri8a" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. <span id="xdx_825_zrkeGEwUl56a">GOING CONCERN</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These financial statements have been prepared on the basis of accounting principles applicable to a "going concern", which assumes that the Company will continue in operation for the foreseeable future and will be able to realize its assets and discharge its liabilities in the normal course of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Several adverse conditions cast substantial doubt on the validity of this assumption. The Company has incurred significant losses over the past three fiscal years. As of December 31, 2022, the Company has an accumulated deficit of $<span id="xdx_90F_eifrs-full--RetainedEarnings_iNI_pp0p0_di_c20221231_zebXGD82Pk93" title="Accumulated deficit">28,365,217</span>, and a working capital deficiency of $<span id="xdx_908_ecustom--WorkingCapitalDeficiency_iI_pp0p0_c20221231_zAhH96S17CM9" title="Working capital deficiency">825,243</span>. As the Company has limited resources and no sources of operating cash flow, there can be no assurances whatsoever that sufficient funding will be available for the Company to continue operations for an extended period of time.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The application of the going concern concept is dependent upon the Company’s ability to raise sufficient funding to pay creditors and to satisfy its liabilities as they become due. Management is actively engaged in the review and due diligence on opportunities of merit and is seeking to raise the necessary capital to meet its funding requirements. There can be no assurance whatsoever that management’s plan will be successful.</span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If the going concern assumption were not appropriate for these financial statements then adjustments may be necessary in the carrying value of assets and liabilities, the reported expenses and the balance sheet classifications used. Such adjustments could be material.</span></p> | |
| CY2022Q4 | ifrs-full |
Retained Earnings
RetainedEarnings
|
-28365217 | cad |
| CY2022Q4 | hhhef |
Working Capital Deficiency
WorkingCapitalDeficiency
|
825243 | cad |
| CY2022 | ifrs-full |
Disclosure Of Reclassifications Or Changes In Presentation Explanatory
DisclosureOfReclassificationsOrChangesInPresentationExplanatory
|
<p id="xdx_801_eifrs-full--DisclosureOfReclassificationsOrChangesInPresentationExplanatory_zICQk4YepgJf" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>3. <span id="xdx_822_zDDGeSAsh3Md">BASIS OF PRESENTATION</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a) Statement of compliance</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These financial statements are prepared in accordance with the International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board (“IASB”) and interpretations issued by the International Financial Reporting interpretation Committee (“IFRIC”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b) Basis of presentation</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These financial statements have been prepared on a historical cost basis, except for certain financial instruments which are measured at fair value.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In addition, these financial statements have been prepared on the accrual basis, except for cash flow information. These financial statements are presented in Canadian dollars, which is the Company’s functional currency.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Approval of the financial statements</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These financial statements were approved and authorized for issue by the Board of Directors on May 4, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reclassification</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain prior period amounts in these financial statements have been reclassified to conform to current period’s presentation. These reclassifications had no net effect on the results of operations or financial position for any period presented.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Use of estimates and judgments</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates will, by definition, seldom equal the actual results. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The key area of judgment applied in the preparation of the financial statements that could result in a material adjustment to the carrying amounts of assets and liabilities is as follows:</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">•</span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">assessment of the Company’s ability to continue as a going concern and whether there are events or conditions that give rise to significant uncertainty;</span></td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>•</b></span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the classification/allocation of expenses as exploration and evaluation expenditures or operating expenses; and</span></td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>•</b></span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the determination whether there have been any events or changes in circumstances that indicate the impairment of its exploration and evaluations assets.</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The key estimates applied in the preparation of the financial statements that could result in a material adjustment to the carrying amounts of assets and liabilities are as follows:</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">•</span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The recoverability of the carrying value of exploration and evaluation assets;</span></td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">•</span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The provision for income taxes and recognition of deferred income tax assets and liabilities; and</span></td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">•</span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The inputs in determining the liability and equity components of the convertible debentures.</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif"/> | |
| CY2022 | ifrs-full |
Disclosure Of Summary Of Significant Accounting Policies Explanatory
DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory
|
<p id="xdx_806_eifrs-full--DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory_zr9ADoXQVJif" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>4. <span id="xdx_828_zkXKUxSdvr4e">SIGNIFICANT ACCOUNTING POLICIES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The significant accounting policies of the Company include the following:</span></p> <p id="xdx_84B_eifrs-full--DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory_zjIIILb309X1" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a) <span id="xdx_863_zfgFe65eZPtb">Financial instruments</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i) <span style="text-decoration: underline">Recognition and classification</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company classifies its financial instruments in the following categories:</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">•</span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At fair value through profit and loss (“FVTPL”): cash</span></td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">•</span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At fair value through other comprehensive income (loss) (“FVTOCI”)</span></td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">•</span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amortized cost: accounts payable and accrued liabilities, due to related parties, loan payable and convertible debentures</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company determines the classification of financial assets at initial recognition. The classification of debt instruments is driven by the Company’s business model for managing the financial assets and their contractual cash flow characteristics. Equity instruments that are held for trading are classified as FVTPL. For other equity instruments, on the day of acquisition the Company can make an irrevocable election (on an instrument-by-instrument basis) to designate them as at FVTOCI. Financial liabilities are measured at amortized cost, unless they are required to be measured at FVTPL (such as instruments held for trading or derivatives) or if the Company has opted to measure them at FVTPL.</span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Measurement</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span style="text-decoration: underline">Financial assets and liabilities at amortized cost</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial assets and liabilities at amortized cost are initially recognized at fair value plus or minus transaction costs, respectively, and subsequently carried at amortized cost less any impairment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Financial assets and liabilities at FVTPL</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial assets and liabilities carried at FVTPL are initially recorded at fair value and transaction costs are expensed in the statements of comprehensive loss. Realized and unrealized gains and losses arising from changes in the fair value of the financial assets and liabilities held at FVTPL are included in the statements of comprehensive loss in the period in which they arise.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Debt investments at FVTOCI</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These assets are subsequently measured at fair value. Interest income calculated using the effective interest method, foreign exchange gains and losses and impairment are recognized in profit or loss. Other net gains and losses are recognized in other comprehensive loss (“OCI”). On derecognition, gains and losses accumulated in OCI are reclassified to profit or loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Equity investments at FVTOCI</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These assets are subsequently measured at fair value. Dividends are recognized as income in profit or loss unless the dividend clearly represents a recovery of part of the cost of the investment. Other net gains and losses are recognized in OCI and are never reclassified to profit or loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii) <span style="text-decoration: underline">Impairment of financial assets at amortized cost</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes a loss allowance for expected credit losses on financial assets that are measured at amortized cost. At each reporting date, the Company measures the loss allowance for the financial asset at an amount equal to the lifetime expected credit losses if the credit risk on the financial asset has increased significantly since initial recognition. If at the reporting date, the financial asset has not increased significantly since initial recognition, the Company measures the loss allowance for the financial asset at an amount equal to the twelve month expected credit losses. The Company shall recognize in the statements of comprehensive loss, as an impairment gain or loss, the amount of expected credit losses (or reversal) that is required to adjust the loss allowance at the reporting date to the amount that is required to be recognized.</span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Derecognition</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Financial assets</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company derecognizes financial assets only when the contractual rights to cash flows from the financial assets expire, or when it transfers the financial assets and substantially all of the associated risks and rewards of ownership to another entity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Financial liabilities</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company derecognizes a financial liability when its contractual obligations are discharged or cancelled, or expire. The Company also derecognizes a financial liability when the terms of the liability are modified such that the terms and / or cash flows of the modified instrument are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gains and losses on derecognition are generally recognized in profit or loss.</span></p> <p id="xdx_84D_eifrs-full--DescriptionOfAccountingPolicyForInvestmentPropertyExplanatory_z7NeYgg6V8O3" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b) <span id="xdx_860_zYterYeAZ9Qb">Mineral property interests</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Costs directly related to the acquisition, exploration and evaluation of resource properties are capitalized once the legal rights to explore the resource properties are acquired.</span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Exploration and evaluation assets are tested for impairment if facts or circumstances indicate that impairment exists:</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">•</span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the period for which the Company has the right to explore in the specific area has expired during the period or will expire in the near future, and is not expected to be renewed</span></td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">•</span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">substantive expenditure on further exploration for and evaluation of mineral resources in the specific area is neither budgeted nor planned</span></td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">•</span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">exploration for and evaluation of mineral resources in the specific area have not led to the discovery of commercially viable quantities of mineral resources and the entity has decided to discontinue such activities in the specific area; and</span></td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">•</span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">sufficient data exist to indicate that, although a development in the specific area is likely to proceed, the carrying amount of the exploration and evaluation asset is unlikely to be recovered in full from successful development or by sale.</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If it is determined that capitalized acquisition, exploration and evaluation costs are not recoverable, or the property is abandoned or management has determined impairment in value, the property is written down to its recoverable amount. From time to time, the Company acquires or disposes properties pursuant to the terms of option agreements. Options are exercisable entirely at the discretion of the optionee, and accordingly, are recorded as mineral property costs or recoveries when the payments are made or received. After costs are recovered, the balance of the payments received is recorded as a gain on option or disposition of mineral property.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Once the technical feasibility and commercial viability of the extraction of mineral resources are demonstrable, mineral property interests attributable to that area of interest are first tested for impairment and then reclassified to mining property and development assets within property and equipment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To date, the Company’s mineral property interest has not demonstrated technical feasibility and commercial viability. The recoverability of the carrying amount of any mineral property interests is dependent on successful development and commercial exploitation or, alternatively, sale of the respective areas of interest.</span></p> <p id="xdx_849_eifrs-full--DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory_zY5MJWk07Er2" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_866_zW7DjIhGgU2e">Impairment</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At the end of each reporting period, the Company’s assets are reviewed to determine whether there is any indication that those assets may be impaired. If such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment. The recoverable amount is the higher of fair value less costs to sell and value in use. Fair value is determined as the amount that would be obtained from the sale of the asset in an arm’s length transaction between knowledgeable and willing parties. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount and the impairment loss is recognized in profit or loss for the period. For an asset that does not generate largely independent cash flows, the recoverable amount is determined for the cash-generating unit to which the asset belongs.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but to an amount that does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognized immediately in profit or loss.</span></p> <p id="xdx_84A_eifrs-full--DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory_zGr7gAUq2HN2" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_865_zIs6XjUc8Co4">Decommissioning liabilities</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An obligation to incur decommissioning and site rehabilitation costs occurs when environmental disturbance is caused by exploration, evaluation, development or ongoing production.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Decommissioning and site rehabilitation costs arising from the installation of plant and other site preparation work, discounted to their net present value, are provided when the obligation to incur such costs arises and are capitalized into the cost of the related asset. These costs are charged against operations through depreciation of the asset and unwinding of the discount on the provision.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation is included in operating costs while the unwinding of the discount is included as a financing cost. Changes in the measurement of a liability relating to the decommissioning or site rehabilitation of plant and other site preparation work are added to, or deducted from, the cost of the related asset. The costs for the restoration of site damage, which arises during production, are provided at their net present values and charged against operations as extraction progresses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes in the measurement of a liability, which arise during production, are charged against operating profit. The discount rate used to measure the net present value of the obligations is the pre-tax rate that reflects the current market assessment of the time value of money and the risks specific to the obligation. To date the Company does not have any decommissioning liabilities.</span></p> <p id="xdx_847_eifrs-full--DescriptionOfAccountingPolicyForIncomeTaxExplanatory_zyOos3XNOp0f" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_861_zvGT3IlksRZe">Income taxes</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income tax expense consisting of current and deferred tax expense is recognized to profit or loss. Current tax expense is the expected tax payable on the taxable income for the year, using tax rates enacted or substantively enacted at period-end, adjusted for amendments to tax payable with regard to previous years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred tax assets and liabilities and the related deferred income tax expense or recovery are recognized for deferred tax consequences attributable to differences between the carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using the enacted or substantively enacted tax rates expected to apply when the asset is realized or the liability settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that substantive enactment occurs.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A deferred tax asset is recognized to the extent that it is probable that future taxable profits will be available against which the asset can be utilized. Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when they relate to income taxes levied by the same taxation authority and the Company intends to settle its current tax assets and liabilities on a net basis.</span></p> <p id="xdx_84D_eifrs-full--DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory_zS7LUptbiKph" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_868_z5HvvglEawLj">Share-based payments</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company grants stock options to directors, officers, employees and consultants of the Company. The fair value of share-based payments to employees is measured at grant date, using the Black-Scholes Option Pricing Model, and is recognized over the vesting period using the graded method. Fair value of share-based payments for non-employees is recognized and measured at the date the goods or services are received based on the fair value of the goods or services received. If it is determined that the fair value of goods and services received cannot be reliably measured, the share-based payment is measured at the fair value of the equity instruments issued using the Black-Scholes Option Pricing Model.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For both employees and non-employees, the fair value of share-based payments is recognized as either an expense or as mineral property interests with a corresponding increase in option reserves. The amount to be recognized as expense is adjusted to reflect the number of share options expected to vest. Consideration received on the exercise of stock options is recorded in capital stock and the related share-based payment is transferred from the stock option reserve to capital stock. For unexercised options that expire, the recorded value is transferred to deficit.</span></p> <p id="xdx_844_ecustom--ConvertibleDebenturesPolicyTextBlock_zjVWuuazj8Be" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(g)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_86D_zXzkKdtmSFKj">Convertible debentures</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The liability component of convertible debentures is recognized initially at the fair value of a similar liability that does not have a conversion option. The equity component is recognized initially, as the difference between the fair value of the convertible debenture as a whole and the fair value of the liability component. Transaction costs are allocated to the liability and equity components in proportion to their initial carrying amounts. Subsequent to initial recognition, the liability component of the convertible debenture is measured at amortized cost using the effective interest method. The equity component is not re-measured subsequent to initial recognition.</span></p> <p id="xdx_84A_eifrs-full--DescriptionOfAccountingPolicyForEarningsPerShareExplanatory_z2ULYPqWdwyb" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_86A_zrJLr03ABvwj">Loss per share</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loss per share is calculated by dividing net loss attributable to common shares of the Company by the weighted average number of common shares outstanding during the year. The Company uses the treasury stock method for calculating diluted loss per share. Under this method, the dilutive effect on earnings per share is calculated on the use of the proceeds that could be obtained upon exercise of options, warrants and similar instruments. It assumes that the proceeds of such exercise would be used to purchase common shares at the average market price during the period. However, the calculation of diluted loss per share excludes the effects of various conversions and exercise of options and warrants that would be anti-dilutive.</span></p> <p id="xdx_84E_ecustom--CapitalStockPolicyTextBlock_zDTysApfYZm8" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_860_zKwGjuUu28Hg">Capital stock</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proceeds from the exercise of stock options and warrants are recorded as capital stock. The proceeds from the issuance of units of the Company are allocated between common shares and warrants based on the residual value method. Under this method, the proceeds are allocated first to capital stock based on the fair value of the common shares at the time the units are issued and any residual value is allocated to the warrants. When the warrants are exercised, the related value is transferred from the warrant reserve to capital stock. For unexercised warrants that expire, the recorded value is transferred from the warrant reserves to deficit.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On the issuance of flow-through shares, any premium received in excess of the market price of the Company’s common shares is initially recorded as a liability (“flow-through tax liability”). Provided that the Company has renounced the related expenditures, or that there is a reasonable expectation that it will do so, the flow-through tax liability is reduced on a pro-rata basis as the expenditures are incurred. If such expenditures are capitalized, a deferred tax liability is recognized. To the extent that the Company has suitable unrecognized deductible temporary differences, an offsetting recovery of deferred income taxes would be recorded.</span></p> <p id="xdx_84E_eifrs-full--DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory_zs8KMkTXCXnc" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(j)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_860_zYx4oJ8Y833e">Foreign currency translation</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amounts recorded in foreign currency are translated into Canadian dollars as follows:</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Monetary assets and liabilities, at the rate of exchange in effect as at the balance sheet date;</span></td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-monetary assets and liabilities, at the exchange rates prevailing at the time of the acquisition of the assets or assumption of the liabilities; and</span></td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenues and expenses (excluding amortization, which is translated at the same rate as the related asset), at the rate of exchange on the transaction date.</span></td> </tr></table> <p/> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exchange differences are recognized in profit or loss in the period which they arise.</span></p> <p id="xdx_842_ecustom--AccountingStandardsIssuedButNotYetAppliedPolicyTextBlock_zgqD7u6dB7ii" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(k)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_86B_zAY7CP2a2zub">Accounting standards issued but not yet effective</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At the date of the approval of the financial statements, a number of standards and interpretations were issued but not effective. The Company considers that these new standards and interpretations are either not applicable or are not </span>expected to have a significant impact on the Company’s financial statements.</p> | |
| CY2022 | ifrs-full |
Description Of Accounting Policy For Financial Instruments Explanatory
DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory
|
<p id="xdx_84B_eifrs-full--DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory_zjIIILb309X1" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a) <span id="xdx_863_zfgFe65eZPtb">Financial instruments</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i) <span style="text-decoration: underline">Recognition and classification</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company classifies its financial instruments in the following categories:</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">•</span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At fair value through profit and loss (“FVTPL”): cash</span></td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">•</span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At fair value through other comprehensive income (loss) (“FVTOCI”)</span></td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">•</span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amortized cost: accounts payable and accrued liabilities, due to related parties, loan payable and convertible debentures</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company determines the classification of financial assets at initial recognition. The classification of debt instruments is driven by the Company’s business model for managing the financial assets and their contractual cash flow characteristics. Equity instruments that are held for trading are classified as FVTPL. For other equity instruments, on the day of acquisition the Company can make an irrevocable election (on an instrument-by-instrument basis) to designate them as at FVTOCI. Financial liabilities are measured at amortized cost, unless they are required to be measured at FVTPL (such as instruments held for trading or derivatives) or if the Company has opted to measure them at FVTPL.</span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Measurement</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span style="text-decoration: underline">Financial assets and liabilities at amortized cost</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial assets and liabilities at amortized cost are initially recognized at fair value plus or minus transaction costs, respectively, and subsequently carried at amortized cost less any impairment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Financial assets and liabilities at FVTPL</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial assets and liabilities carried at FVTPL are initially recorded at fair value and transaction costs are expensed in the statements of comprehensive loss. Realized and unrealized gains and losses arising from changes in the fair value of the financial assets and liabilities held at FVTPL are included in the statements of comprehensive loss in the period in which they arise.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Debt investments at FVTOCI</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These assets are subsequently measured at fair value. Interest income calculated using the effective interest method, foreign exchange gains and losses and impairment are recognized in profit or loss. Other net gains and losses are recognized in other comprehensive loss (“OCI”). On derecognition, gains and losses accumulated in OCI are reclassified to profit or loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Equity investments at FVTOCI</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These assets are subsequently measured at fair value. Dividends are recognized as income in profit or loss unless the dividend clearly represents a recovery of part of the cost of the investment. Other net gains and losses are recognized in OCI and are never reclassified to profit or loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii) <span style="text-decoration: underline">Impairment of financial assets at amortized cost</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes a loss allowance for expected credit losses on financial assets that are measured at amortized cost. At each reporting date, the Company measures the loss allowance for the financial asset at an amount equal to the lifetime expected credit losses if the credit risk on the financial asset has increased significantly since initial recognition. If at the reporting date, the financial asset has not increased significantly since initial recognition, the Company measures the loss allowance for the financial asset at an amount equal to the twelve month expected credit losses. The Company shall recognize in the statements of comprehensive loss, as an impairment gain or loss, the amount of expected credit losses (or reversal) that is required to adjust the loss allowance at the reporting date to the amount that is required to be recognized.</span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Derecognition</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Financial assets</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company derecognizes financial assets only when the contractual rights to cash flows from the financial assets expire, or when it transfers the financial assets and substantially all of the associated risks and rewards of ownership to another entity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Financial liabilities</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company derecognizes a financial liability when its contractual obligations are discharged or cancelled, or expire. The Company also derecognizes a financial liability when the terms of the liability are modified such that the terms and / or cash flows of the modified instrument are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gains and losses on derecognition are generally recognized in profit or loss.</span></p> | |
| CY2022 | ifrs-full |
Description Of Accounting Policy For Investment Property Explanatory
DescriptionOfAccountingPolicyForInvestmentPropertyExplanatory
|
<p id="xdx_84D_eifrs-full--DescriptionOfAccountingPolicyForInvestmentPropertyExplanatory_z7NeYgg6V8O3" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b) <span id="xdx_860_zYterYeAZ9Qb">Mineral property interests</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Costs directly related to the acquisition, exploration and evaluation of resource properties are capitalized once the legal rights to explore the resource properties are acquired.</span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Exploration and evaluation assets are tested for impairment if facts or circumstances indicate that impairment exists:</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">•</span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the period for which the Company has the right to explore in the specific area has expired during the period or will expire in the near future, and is not expected to be renewed</span></td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">•</span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">substantive expenditure on further exploration for and evaluation of mineral resources in the specific area is neither budgeted nor planned</span></td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">•</span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">exploration for and evaluation of mineral resources in the specific area have not led to the discovery of commercially viable quantities of mineral resources and the entity has decided to discontinue such activities in the specific area; and</span></td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">•</span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">sufficient data exist to indicate that, although a development in the specific area is likely to proceed, the carrying amount of the exploration and evaluation asset is unlikely to be recovered in full from successful development or by sale.</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If it is determined that capitalized acquisition, exploration and evaluation costs are not recoverable, or the property is abandoned or management has determined impairment in value, the property is written down to its recoverable amount. From time to time, the Company acquires or disposes properties pursuant to the terms of option agreements. Options are exercisable entirely at the discretion of the optionee, and accordingly, are recorded as mineral property costs or recoveries when the payments are made or received. After costs are recovered, the balance of the payments received is recorded as a gain on option or disposition of mineral property.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Once the technical feasibility and commercial viability of the extraction of mineral resources are demonstrable, mineral property interests attributable to that area of interest are first tested for impairment and then reclassified to mining property and development assets within property and equipment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To date, the Company’s mineral property interest has not demonstrated technical feasibility and commercial viability. The recoverability of the carrying amount of any mineral property interests is dependent on successful development and commercial exploitation or, alternatively, sale of the respective areas of interest.</span></p> | |
| CY2022 | ifrs-full |
Description Of Accounting Policy For Impairment Of Assets Explanatory
DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory
|
<p id="xdx_849_eifrs-full--DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory_zY5MJWk07Er2" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_866_zW7DjIhGgU2e">Impairment</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At the end of each reporting period, the Company’s assets are reviewed to determine whether there is any indication that those assets may be impaired. If such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment. The recoverable amount is the higher of fair value less costs to sell and value in use. Fair value is determined as the amount that would be obtained from the sale of the asset in an arm’s length transaction between knowledgeable and willing parties. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount and the impairment loss is recognized in profit or loss for the period. For an asset that does not generate largely independent cash flows, the recoverable amount is determined for the cash-generating unit to which the asset belongs.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but to an amount that does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognized immediately in profit or loss.</span></p> | |
| CY2022 | ifrs-full |
Description Of Accounting Policy For Financial Liabilities Explanatory
DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory
|
<p id="xdx_84A_eifrs-full--DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory_zGr7gAUq2HN2" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_865_zIs6XjUc8Co4">Decommissioning liabilities</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An obligation to incur decommissioning and site rehabilitation costs occurs when environmental disturbance is caused by exploration, evaluation, development or ongoing production.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Decommissioning and site rehabilitation costs arising from the installation of plant and other site preparation work, discounted to their net present value, are provided when the obligation to incur such costs arises and are capitalized into the cost of the related asset. These costs are charged against operations through depreciation of the asset and unwinding of the discount on the provision.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation is included in operating costs while the unwinding of the discount is included as a financing cost. Changes in the measurement of a liability relating to the decommissioning or site rehabilitation of plant and other site preparation work are added to, or deducted from, the cost of the related asset. The costs for the restoration of site damage, which arises during production, are provided at their net present values and charged against operations as extraction progresses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes in the measurement of a liability, which arise during production, are charged against operating profit. The discount rate used to measure the net present value of the obligations is the pre-tax rate that reflects the current market assessment of the time value of money and the risks specific to the obligation. To date the Company does not have any decommissioning liabilities.</span></p> | |
| CY2022 | ifrs-full |
Description Of Accounting Policy For Income Tax Explanatory
DescriptionOfAccountingPolicyForIncomeTaxExplanatory
|
<p id="xdx_847_eifrs-full--DescriptionOfAccountingPolicyForIncomeTaxExplanatory_zyOos3XNOp0f" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_861_zvGT3IlksRZe">Income taxes</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income tax expense consisting of current and deferred tax expense is recognized to profit or loss. Current tax expense is the expected tax payable on the taxable income for the year, using tax rates enacted or substantively enacted at period-end, adjusted for amendments to tax payable with regard to previous years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred tax assets and liabilities and the related deferred income tax expense or recovery are recognized for deferred tax consequences attributable to differences between the carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using the enacted or substantively enacted tax rates expected to apply when the asset is realized or the liability settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that substantive enactment occurs.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A deferred tax asset is recognized to the extent that it is probable that future taxable profits will be available against which the asset can be utilized. Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when they relate to income taxes levied by the same taxation authority and the Company intends to settle its current tax assets and liabilities on a net basis.</span></p> | |
| CY2022 | ifrs-full |
Description Of Accounting Policy For Sharebased Payment Transactions Explanatory
DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory
|
<p id="xdx_84D_eifrs-full--DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory_zS7LUptbiKph" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_868_z5HvvglEawLj">Share-based payments</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company grants stock options to directors, officers, employees and consultants of the Company. The fair value of share-based payments to employees is measured at grant date, using the Black-Scholes Option Pricing Model, and is recognized over the vesting period using the graded method. Fair value of share-based payments for non-employees is recognized and measured at the date the goods or services are received based on the fair value of the goods or services received. If it is determined that the fair value of goods and services received cannot be reliably measured, the share-based payment is measured at the fair value of the equity instruments issued using the Black-Scholes Option Pricing Model.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For both employees and non-employees, the fair value of share-based payments is recognized as either an expense or as mineral property interests with a corresponding increase in option reserves. The amount to be recognized as expense is adjusted to reflect the number of share options expected to vest. Consideration received on the exercise of stock options is recorded in capital stock and the related share-based payment is transferred from the stock option reserve to capital stock. For unexercised options that expire, the recorded value is transferred to deficit.</span></p> | |
| CY2022 | ifrs-full |
Description Of Accounting Policy For Earnings Per Share Explanatory
DescriptionOfAccountingPolicyForEarningsPerShareExplanatory
|
<p id="xdx_84A_eifrs-full--DescriptionOfAccountingPolicyForEarningsPerShareExplanatory_z2ULYPqWdwyb" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_86A_zrJLr03ABvwj">Loss per share</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loss per share is calculated by dividing net loss attributable to common shares of the Company by the weighted average number of common shares outstanding during the year. The Company uses the treasury stock method for calculating diluted loss per share. Under this method, the dilutive effect on earnings per share is calculated on the use of the proceeds that could be obtained upon exercise of options, warrants and similar instruments. It assumes that the proceeds of such exercise would be used to purchase common shares at the average market price during the period. However, the calculation of diluted loss per share excludes the effects of various conversions and exercise of options and warrants that would be anti-dilutive.</span></p> | |
| CY2022 | ifrs-full |
Description Of Accounting Policy For Foreign Currency Translation Explanatory
DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory
|
<p id="xdx_84E_eifrs-full--DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory_zs8KMkTXCXnc" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(j)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_860_zYx4oJ8Y833e">Foreign currency translation</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amounts recorded in foreign currency are translated into Canadian dollars as follows:</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Monetary assets and liabilities, at the rate of exchange in effect as at the balance sheet date;</span></td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-monetary assets and liabilities, at the exchange rates prevailing at the time of the acquisition of the assets or assumption of the liabilities; and</span></td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenues and expenses (excluding amortization, which is translated at the same rate as the related asset), at the rate of exchange on the transaction date.</span></td> </tr></table> <p/> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exchange differences are recognized in profit or loss in the period which they arise.</span></p> | |
| CY2022 | ifrs-full |
Disclosure Of Investment Property Explanatory
DisclosureOfInvestmentPropertyExplanatory
|
<p id="xdx_808_eifrs-full--DisclosureOfInvestmentPropertyExplanatory_zkA0oAScLju2" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>5. <span id="xdx_820_zoa25oImfx08">MINERAL PROPERTY INTERESTS</span></b></span></p> <table cellpadding="0" cellspacing="0" id="xdx_89D_ecustom--ScheduleOfMineralPropertyInterestsTableTextBlock_zgnbbTLFiPp3" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - MINERAL PROPERTY INTERESTS (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt"><span id="xdx_8BD_zzRQrUSboQg9" style="display: none">Schedule of mineral property interests</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_4B2_ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis_custom--AcaciaPropertyMember_zMTsvugCuwNj" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_4BC_ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis_custom--ExtraHighPropertyMember_z01eJPJ2OA74" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_4B7_zrdQ1jZTuHsd" style="text-align: center"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td><b> </b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="3" style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Acacia Property</b></span></p></td><td style="text-align: center; padding-bottom: 1pt; vertical-align: bottom"><b> </b></td> <td colspan="3" style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Extra High </b></span><b>Property </b></p></td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt; vertical-align: bottom"><b> </b></td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold; vertical-align: bottom"><b>Total</b></td></tr> <tr id="xdx_43E_c20210101__20211231_eifrs-full--AssetsArisingFromExplorationForAndEvaluationOfMineralResources_iS_zSyzZEoQNbLh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Balance, December 31, 2020</td><td style="width: 5%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">15,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 5%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">25,001</td><td style="width: 1%; text-align: left"> </td><td style="width: 5%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">40,001</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--ImpairmentOfMineralProperty_iN_di_zUC6aWL7oxJ8" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Impairment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(15,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(25,001</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(40,001</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_43A_c20220101__20221231_eifrs-full--AssetsArisingFromExplorationForAndEvaluationOfMineralResources_iS_zTheHXN439Rj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance, December 31, 2021</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0472">—</span> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0473">—</span> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0474">—</span> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eifrs-full--ChangesInPropertyPlantAndEquipment_i_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Acquisition costs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0476">—</span> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">54,001</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">54,001</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_432_c20220101__20221231_eifrs-full--AssetsArisingFromExplorationForAndEvaluationOfMineralResources_iE_zOh6hUdXJHlf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance, December 31, 2022</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0480">—</span> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">54,001</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">54,001</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8A9_z3lpYzFDJYi1"/> <p style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Acacia Property </p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 30, 2019, the Company entered into a property option agreement (the “Option Agreement”) with Eagle Plains Resources ltd. (“Eagle Plains”) to acquire a <span id="xdx_906_eifrs-full--PercentageOfVotingEquityInterestsAcquired_iI_dp_c20221231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__custom--AcaciaPropertyMember_zdfLAUklzqTi" title="Percentage of holding">60</span>% interest in the Acacia Property (“Acacia Property”) in Adams Plateau Area of the Province of British Columbia. The following was required to exercise the option:</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 3%; padding-left: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">•</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 97%; padding-left: 7.3pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Issuance of <span id="xdx_908_ecustom--NumberOfCommonStockIssued_c20220101__20221231__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--EaglePlainsMember__ifrs-full--TypesOfFinancialAssetsAxis__custom--ThirdAnniversaryOfOptionAgreementMember_zxmcwhSm3vhk" title="Number of common stock issued">10,000</span> common shares to Eagle Plains and incur a total of $<span id="xdx_90A_ecustom--ValueOfCommonStockIssued_pp0p0_c20220101__20221231__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--EaglePlainsMember__ifrs-full--TypesOfFinancialAssetsAxis__custom--ThirdAnniversaryOfOptionAgreementMember_zmJMa07Lklb2" title="Value of common stock issued">300,000</span> in property related expenditures on or before the third anniversary of the Option Agreement;</span></td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 3%; padding-left: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">•</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 97%; padding-left: 7.3pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Issuance of <span id="xdx_903_ecustom--NumberOfCommonStockIssued_c20220101__20221231__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--EaglePlainsMember__ifrs-full--TypesOfFinancialAssetsAxis__custom--FifthAnniversaryOfOptionAgreementMember_zyBOORFYpzo5" title="Number of common stock issued">10,000</span> common shares to Eagle Plains and incur a total of $<span id="xdx_903_ecustom--ValueOfCommonStockIssued_pp0p0_c20220101__20221231__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--EaglePlainsMember__ifrs-full--TypesOfFinancialAssetsAxis__custom--FifthAnniversaryOfOptionAgreementMember_zdaiBVjySPHk" title="Value of common stock issued">1,250,000</span> in property related expenditures on or before the fifth anniversary of the Option Agreement.</span></td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 3%; padding-left: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">•</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 97%; padding-left: 7.3pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Issuance of <span id="xdx_906_ecustom--NumberOfCommonStockIssued_c20220101__20221231__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--EaglePlainsMember__ifrs-full--TypesOfFinancialAssetsAxis__custom--FourthAnniversaryOfOptionAgreementMember_z7qGXto6i1f9" title="Number of common stock issued">10,000</span> common shares to Eagle Plains and incur a total of $<span id="xdx_907_ecustom--ValueOfCommonStockIssued_pp0p0_c20220101__20221231__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--EaglePlainsMember__ifrs-full--TypesOfFinancialAssetsAxis__custom--FourthAnniversaryOfOptionAgreementMember_z9Ai6xOuQsjh" title="Value of common stock issued">750,000</span> in property related expenditures on or before the fourth anniversary of the Option Agreement; and</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Within a period of 30 days after each annual anniversary of the Option Agreement, the Company was required to decide whether or not it wanted to continue with the Option Agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 15, 2020, the Company entered into an amendment agreement to the Option Agreement with Eagle Plains as the Company was not able to incur the required amount of $<span id="xdx_90F_ecustom--PropertyRelatedExpenditure_pp0p0_c20201014__20201015__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__custom--AcaciaPropertyMember_ze7gLGX2Uit4" title="Property related expenditure">100,000</span> in property related expenditure during the 1<sup>st</sup> Anniversary. The following are the amendments which were required to exercise the option:</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">•</span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Issuance of <span id="xdx_906_eifrs-full--IncreaseDecreaseInNumberOfOrdinarySharesIssued_c20220101__20221231__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--EaglePlainsMember_zKXTM66ZmRi9" title="Stock issued">20,000</span> common shares (issued) to Eagle Plans.</span></td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">•</span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Commitment to incur $200,000 in property related expenditures during the 2nd period of the agreement.</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During November 2021, by mutual consent, the Company and Eagle Plains terminated the Option Agreement dated September 30, 2019 and the Amendment Agreement to the Option Agreement dated October 15, 2020. Accordingly, the Company recorded an impairment loss of $<span id="xdx_90E_eifrs-full--ImpairmentLoss_c20210101__20211231__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--EaglePlainsMember_zPNMK3f4uRz8" title="Impairment loss">15,000</span> during the year ended December 31, 2021.</span></p> <p style="font: bold 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Extra High Property</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Previously the Company held a <span id="xdx_908_eifrs-full--PercentageOfVotingEquityInterestsAcquired_iI_dp_c20221231__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--ExtraHighClaimsMember_zzpyk4Ozo4W6" title="Percentage of holding">33</span>% interest in the Extra High Claims, located in the Kamloops Mining Division of the Province of British Columbia (“Extra High Property”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 31, 2019, as amended on November 4, 2019, the Company entered into an agreement with Colt Resources Inc. (“Colt Resources”) to purchase the remaining <span id="xdx_908_eifrs-full--PercentageOfVotingEquityInterestsAcquired_iI_dp_c20221231__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--ColtResourcesMember_zxs8ZtHmPCb" title="Percentage of holding">67</span>% right, interest and title in and to the Extra High Property. The following was required to complete the purchase:</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">•</span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a cash consideration of $<span id="xdx_908_eifrs-full--PortionOfConsiderationPaidReceivedConsistingOfCashAndCashEquivalents_pp0p0_c20220101__20221231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__custom--ExtraHighPropertyMember_zINFrZjEcPg" title="Cash consideration">100,000</span> of which $25,000 was paid on the closing date and the remaining balance of $75,000 is payable after eighteen months (unpaid); and</span></td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">•</span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a 0.5% NSR from commercial production which may be purchased by the Company at any time by making a payment of $500,000.</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2021, the Company recorded an impairment loss of $<span id="xdx_908_eifrs-full--ImpairmentLoss_c20210101__20211231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__custom--ExtraHighPropertyMember_z4kqlBskLLLi" title="ImpairmentLoss">25,001</span> relating to the Extra High Property.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the Company’s offer letter to Colt Resources dated July 6, 2022, the Company has made a cash payment of</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<span id="xdx_907_eifrs-full--PortionOfConsiderationPaidReceivedConsistingOfCashAndCashEquivalents_pp0p0_c20220705__20220706__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__custom--ExtraHighPropertyMember_zXbVysgSlAif" title="Cash payment">15,000</span> and issued <span id="xdx_90E_ecustom--NumberOfCommonStockIssued_c20220705__20220706__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__custom--ExtraHighPropertyMember_zoH6Ptw2iX36" title="Number of common stock issued">50,000</span> common shares in the capital of the Company to Colt Resources as consideration for the full and final settlement of all matters between the Company and Colt Resources in respect to the Extra High Property located in the Province of British Columbia. The <span id="xdx_90B_ecustom--NumberOfCommonStockIssued_c20220705__20220706__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__custom--ExtraHighPropertyMember_zMVvF1suQxwf" title="Number of common stock issued">50,000</span> common shares in the capital of the Company were subject to a hold period from trading which expired on <span id="xdx_90C_ecustom--ExpiredDate_pp0p0_dd_c20220705__20220706__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__custom--ExtraHighPropertyMember_z37iEeWZQGAa" title="Expired Date">December 10, 2022</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2022, the Company incurred $<span id="xdx_909_eifrs-full--OtherFinanceCost_c20220101__20221231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__custom--ExtraHighPropertyMember_zvQGcHJ6kYq6" title="Other costs">38,001</span> to extend the expiry date of the Extra High Property to <span id="xdx_903_ecustom--ExpiredDate_pp0p0_dd_c20220101__20221231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__custom--ExtraHighPropertyMember_zfX1eXLX7fhg" title="Expired Date">June 30, 2023</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As at December 31, 2022, the Company owns a 100% undivided right, interest and title in and to the Extra High Property.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Extra High Property is subject to a 1.5% Net Smelter Royalty (“NSR”) payable to a third party, 50% of which, or 0.75%, can be purchased by the Company at any time by paying $<span id="xdx_903_ecustom--PaymentForCommercialProduction_pp0p0_c20220101__20221231__ifrs-full--ClassesOfPropertyPlantAndEquipmentAxis__custom--ExtraHighPropertyMember_zwQVRfx1e0bb" title="Payment for commercial production">500,000</span>.</span></p> | |
| CY2020Q4 | ifrs-full |
Assets Arising From Exploration For And Evaluation Of Mineral Resources
AssetsArisingFromExplorationForAndEvaluationOfMineralResources
|
40001 | cad |
| CY2021 | hhhef |
Impairment Of Mineral Property
ImpairmentOfMineralProperty
|
40001 | cad |
| CY2022 | ifrs-full |
Changes In Property Plant And Equipment
ChangesInPropertyPlantAndEquipment
|
54001 | cad |
| CY2022Q4 | ifrs-full |
Assets Arising From Exploration For And Evaluation Of Mineral Resources
AssetsArisingFromExplorationForAndEvaluationOfMineralResources
|
54001 | cad |
| CY2022 | ifrs-full |
Description Of Accounting Policy For Trade And Other Payables Explanatory
DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory
|
<p id="xdx_804_eifrs-full--DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory_zjgCDdXggswd" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>6. <span id="xdx_823_zZ5bpFNqUVZ6">ACCOUNTS PAYABLE AND ACCRUED LIABILITIES</span></b> </span></p> <table cellpadding="0" cellspacing="0" id="xdx_880_ecustom--AccountsPayableAndAccruedLiabilitiesTableTextBlock_zbo6AOyUTOw9" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.5pt"><span id="xdx_8B9_zr4t0FkT759i" style="display: none">Schedule of accounts payable and accrued liabilities</span></td><td> </td> <td style="text-align: right"> </td><td id="xdx_495_20221231_zvtb11eW3pI9" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td id="xdx_49A_20211231_zzG6hxkIjOE6" style="text-align: center"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2022</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2021</td></tr> <tr id="xdx_40A_eifrs-full--NoncurrentPayables_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left; padding-left: 2.5pt">Trade payables</td><td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">90,195</td><td style="width: 1%; text-align: left"> </td><td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">77,549</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--CurrentAccruedExpensesAndOtherCurrentLiabilities_iI_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.5pt">Accrued liabilities</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="border-bottom: Black 1pt solid; text-align: right">85,968</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="border-bottom: Black 1pt solid; text-align: right">72,452</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--AccountsPayableAndAccruedLiabilities_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: rgb(204,238,255)">Accounts payable and accrued liabilities </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">176,163</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">150,001</td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif"/> | |
| CY2022Q4 | ifrs-full |
Noncurrent Payables
NoncurrentPayables
|
90195 | cad |
| CY2021Q4 | ifrs-full |
Noncurrent Payables
NoncurrentPayables
|
77549 | cad |
| CY2022Q4 | ifrs-full |
Current Accrued Expenses And Other Current Liabilities
CurrentAccruedExpensesAndOtherCurrentLiabilities
|
85968 | cad |
| CY2021Q4 | ifrs-full |
Current Accrued Expenses And Other Current Liabilities
CurrentAccruedExpensesAndOtherCurrentLiabilities
|
72452 | cad |
| CY2022Q4 | hhhef |
Accounts Payable And Accrued Liabilities
AccountsPayableAndAccruedLiabilities
|
176163 | cad |
| CY2021Q4 | hhhef |
Accounts Payable And Accrued Liabilities
AccountsPayableAndAccruedLiabilities
|
150001 | cad |
| CY2022 | ifrs-full |
Disclosure Of Transactions Between Related Parties Explanatory
DisclosureOfTransactionsBetweenRelatedPartiesExplanatory
|
<p id="xdx_80C_eifrs-full--DisclosureOfTransactionsBetweenRelatedPartiesExplanatory_zEj8QFE9c8Ma" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>7. <span id="xdx_824_zV6fSciGftz6">RELATED PARTY TRANSACTIONS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The amounts due to related parties are unsecured, payable on demand which consist of the following:</span></p> <table cellpadding="0" cellspacing="0" id="xdx_89B_ecustom--AmountsDueToRelatedPartiesTableTextBlock_zmvliIP3f7qb" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - RELATED PARTY TRANSACTIONS (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: -6.25pt; padding-left: 8.7pt"><span id="xdx_8B9_z2doTWsFKcye" style="display: none">Amounts due to related parties</span></td><td> </td> <td style="text-align: right"> </td><td id="xdx_499_20221231_z2a51ElAwuk7" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td id="xdx_494_20211231_zRhv3cLVfbv6" style="text-align: center"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold; vertical-align: bottom">December 31, 2022</td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt; vertical-align: bottom"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold; vertical-align: bottom">December 31, 2021</td></tr> <tr id="xdx_403_eifrs-full--CurrentAdvancesToSuppliers_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left">Advances from directors (interest at prime plus 1%)</td><td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">40,372</td><td style="width: 1%; text-align: left"> </td><td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0557">—</span> </td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eifrs-full--EquityAttributableToOwnersOfParent_iI_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: -6.25pt; padding-left: 8.7pt">Entities controlled by directors (non-interest-bearing)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="border-bottom: Black 1pt solid; text-align: right">62,828</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="border-bottom: Black 1pt solid; text-align: right">34,756</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--NoncurrentPayablesToRelatedParties_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: rgb(204,238,255)">Due to related parties </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">103,200</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">34,756</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A5_zkOnYPvIzIjh" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Included in convertible debentures and accrued interest is $<span id="xdx_908_ecustom--ConvertibleDebenturesAndAccruedInterest_c20221231__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--ChiefExecutiveOfficersMember_pp0p0" title="Convertible debentures and accrued interest">489,589</span> (2021 - $<span id="xdx_902_ecustom--ConvertibleDebenturesAndAccruedInterest_iI_pp0p0_c20211231__ifrs-full--CategoriesOfRelatedPartiesAxis__custom--ChiefExecutiveOfficersMember_zfeD18RhDAKj" title="Convertible debentures and accrued interest">459,589</span>) owing to the Chief Executive Officer and to a director of the Company (note 10).</span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the years ended December 31, the following amounts were charged by related parties.</span></p> <table cellpadding="0" cellspacing="0" id="xdx_899_ecustom--AmountsChargedByRelatedPartiesTableTextBlock_zoTZBJ2soMp1" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - RELATED PARTY TRANSACTIONS (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span id="xdx_8B6_zGuHnxahHHV7" style="display: none">Amounts charged by related parties</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_49B_20220101__20221231_z5fxYcuGKvMh" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_491_20210101__20211231_z2x2gLkAFjWe" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_495_20200101__20201231_zWUsFbWKcrr1" style="text-align: center"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2022</td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt; vertical-align: bottom"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2021</td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt; vertical-align: bottom"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2020</td></tr> <tr id="xdx_406_eifrs-full--AdjustmentsForInterestExpense_i_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Interest charged on amounts due to related parties</td><td style="width: 5%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">1,158</td><td style="width: 1%; text-align: left"> </td><td style="width: 5%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">275</td><td style="width: 1%; text-align: left"> </td><td style="width: 5%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">4,733</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eifrs-full--InterestExpenseOnDebtInstrumentsIssued_i_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest on convertible debentures</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">30,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">30,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">30,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eifrs-full--RentalExpense_i_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Rent charged by entities with common directors (note 14)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eifrs-full--AdministrativeExpense_i_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Office expenses charged by, and other expenses paid on behalf of the Company by a company with common directors (note 14)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">19,272</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">13,901</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">12,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eifrs-full--CommitmentsMadeByEntityRelatedPartyTransactions_i_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: rgb(204,238,255); padding-bottom: 1pt">Total expenses </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">62,430</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">56,176</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">58,733</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8A2_zjyqxFckCHh7" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company, together with Jackpot Digital Inc. (“Jackpot”), a related company with certain common directors, have entered into an office lease agreement, and an office support services agreement (Note 14).</span></p> | |
| CY2022Q4 | ifrs-full |
Current Advances To Suppliers
CurrentAdvancesToSuppliers
|
40372 | cad |
| CY2022Q4 | ifrs-full |
Equity Attributable To Owners Of Parent
EquityAttributableToOwnersOfParent
|
62828 | cad |
| CY2021Q4 | ifrs-full |
Equity Attributable To Owners Of Parent
EquityAttributableToOwnersOfParent
|
34756 | cad |
| CY2022Q4 | ifrs-full |
Noncurrent Payables To Related Parties
NoncurrentPayablesToRelatedParties
|
103200 | cad |
| CY2021Q4 | ifrs-full |
Noncurrent Payables To Related Parties
NoncurrentPayablesToRelatedParties
|
34756 | cad |
| CY2022 | ifrs-full |
Adjustments For Interest Expense
AdjustmentsForInterestExpense
|
1158 | cad |
| CY2021 | ifrs-full |
Adjustments For Interest Expense
AdjustmentsForInterestExpense
|
275 | cad |
| CY2020 | ifrs-full |
Adjustments For Interest Expense
AdjustmentsForInterestExpense
|
4733 | cad |
| CY2022 | ifrs-full |
Interest Expense On Debt Instruments Issued
InterestExpenseOnDebtInstrumentsIssued
|
30000 | cad |
| CY2021 | ifrs-full |
Interest Expense On Debt Instruments Issued
InterestExpenseOnDebtInstrumentsIssued
|
30000 | cad |
| CY2020 | ifrs-full |
Interest Expense On Debt Instruments Issued
InterestExpenseOnDebtInstrumentsIssued
|
30000 | cad |
| CY2022 | ifrs-full |
Rental Expense
RentalExpense
|
12000 | cad |
| CY2021 | ifrs-full |
Rental Expense
RentalExpense
|
12000 | cad |
| CY2020 | ifrs-full |
Rental Expense
RentalExpense
|
12000 | cad |
| CY2022 | ifrs-full |
Administrative Expense
AdministrativeExpense
|
19272 | cad |
| CY2021 | ifrs-full |
Administrative Expense
AdministrativeExpense
|
13901 | cad |
| CY2020 | ifrs-full |
Administrative Expense
AdministrativeExpense
|
12000 | cad |
| CY2022 | ifrs-full |
Commitments Made By Entity Related Party Transactions
CommitmentsMadeByEntityRelatedPartyTransactions
|
62430 | cad |
| CY2021 | ifrs-full |
Commitments Made By Entity Related Party Transactions
CommitmentsMadeByEntityRelatedPartyTransactions
|
56176 | cad |
| CY2020 | ifrs-full |
Commitments Made By Entity Related Party Transactions
CommitmentsMadeByEntityRelatedPartyTransactions
|
58733 | cad |
| CY2016 | hhhef |
Cancellation Of Nonbrokered Private Placement
CancellationOfNonbrokeredPrivatePlacement
|
45000 | cad |
| CY2016Q4 | hhhef |
Refunded Of Nonbrokered Private Placement
RefundedOfNonbrokeredPrivatePlacement
|
35000 | cad |
| CY2020Q4 | hhhef |
Refundable Subscription1
RefundableSubscription1
|
10000 | cad |
| CY2021Q1 | hhhef |
Settled Amount
SettledAmount
|
10000 | cad |
| CY2021Q1 | ifrs-full |
Number Of Shares Issued
NumberOfSharesIssued
|
40000 | shares |
| CY2021Q1 | hhhef |
Fair Value Per Share
FairValuePerShare
|
0.55 | |
| CY2021 | hhhef |
Loss Recognized Value
LossRecognizedValue
|
12000 | cad |
| CY2020 | hhhef |
Received From Subscription Funds
ReceivedFromSubscriptionFunds
|
20000 | cad |
| CY2020 | hhhef |
Number Of Units Subscription
NumberOfUnitsSubscription
|
80000 | shares |
| CY2020Q4 | hhhef |
Share Price1
SharePrice1
|
0.25 | |
| CY2020Q4 | hhhef |
Warrant Exercisable
WarrantExercisable
|
0.50 | |
| CY2021Q1 | ifrs-full |
Number Of Shares Issued
NumberOfSharesIssued
|
80000 | shares |
| CY2021Q1 | hhhef |
Price Per Unit
PricePerUnit
|
0.25 | |
| CY2022 | ifrs-full |
Disclosure Of Loans And Advances To Customers Explanatory
DisclosureOfLoansAndAdvancesToCustomersExplanatory
|
<p id="xdx_80F_eifrs-full--DisclosureOfLoansAndAdvancesToCustomersExplanatory_zb3z98EHKTbb" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>9. <span id="xdx_829_zThskqpMMQt8">LOAN PAYABLE</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2016, the Company entered into an agreement with an arm’s length party whereby the arm’s length party paid certain debts owed by the Company. The loan was non-interest bearing, unsecured and due on demand. On January 25, 2021, the principal amount of $<span id="xdx_90E_eifrs-full--LoansPayableInDefault_iI_pp0p0_c20210125_z1OpY8F4lMjj" title="Loan payable">103,924</span> plus accrued interest were settled by the issuance of <span id="xdx_903_ecustom--IssuanceOfShares_iI_c20210125_zDO7wNu6GUTe" title="Issuance of shares">415,697</span> common shares with a fair value of $0.55 per share pursuant to a debt settlement agreement dated December 11, 2020. The Company recognized a loss of $<span id="xdx_903_ecustom--LossRecognized_c20210101__20211231_z4YKKLXZMOXi" title="Loss recognized">124,709</span> during the year ended December 31, 2021 (Note 11).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During May 2021, an arm’s length party has lent the Company the amount of $<span id="xdx_900_eifrs-full--LoansPayableInDefault_iI_pp0p0_c20210531_zwLslEdBorA6" title="Loan payable">50,000</span>. As of December 31, 2022, the loan is outstanding and has accrued interest in the amount of $<span id="xdx_906_ecustom--AccruedInterest_iI_c20221231_znr6kFv8vJ6k" title="Accrued interest">7,973</span> (2021- $<span id="xdx_901_ecustom--AccruedInterest_iI_c20211231_zdEhTdrY7Xi4" title="Accrued interest">2,975</span>).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During July 2022, an arm’s length party has lent the Company the amount of $<span id="xdx_90C_eifrs-full--LoansPayableInDefault_iI_pp0p0_c20220731_z5Qjd72dDSee" title="Loan payable">15,000</span>. As of December 31, 2022, the Company has repaid the $<span id="xdx_90C_ecustom--RepaymentOfLoanPayable_iI_pp0p0_c20221231_zUYnDlfU4D21" title="Repayment of loan payable">15,000</span> together with the accrued interest in the amount of $<span id="xdx_901_ecustom--AccruedInterestPayables_iI_pp0p0_c20221231_z8AGVQS3bhK6" title="Accrued interest payables">274</span>.</span></p> | |
| CY2021Q1 | ifrs-full |
Loans Payable In Default
LoansPayableInDefault
|
103924 | cad |
| CY2021Q1 | hhhef |
Issuance Of Shares
IssuanceOfShares
|
415697 | shares |
| CY2021 | hhhef |
Loss Recognized
LossRecognized
|
124709 | cad |
| CY2021Q2 | ifrs-full |
Loans Payable In Default
LoansPayableInDefault
|
50000 | cad |
| CY2022Q4 | hhhef |
Accrued Interest
AccruedInterest
|
7973 | cad |
| CY2021Q4 | hhhef |
Accrued Interest
AccruedInterest
|
2975 | cad |
| CY2022Q3 | ifrs-full |
Loans Payable In Default
LoansPayableInDefault
|
15000 | cad |
| CY2022Q4 | hhhef |
Repayment Of Loan Payable
RepaymentOfLoanPayable
|
15000 | cad |
| CY2022Q4 | hhhef |
Accrued Interest Payables
AccruedInterestPayables
|
274 | cad |
| CY2021Q4 | ifrs-full |
Notional Amount
NotionalAmount
|
250000 | cad |
| CY2021Q1 | hhhef |
Issued Aggregate
IssuedAggregate
|
833409 | cad |
| CY2021Q1 | hhhef |
Fair Value Per Share
FairValuePerShare
|
0.55 | |
| CY2021Q1 | hhhef |
Accrueds Interest
AccruedsInterest
|
100000 | cad |
| CY2022 | hhhef |
Recognized Loss
RecognizedLoss
|
250023 | cad |
| CY2020Q4 | ifrs-full |
Notes And Debentures Issued
NotesAndDebenturesIssued
|
672897 | cad |
| CY2021 | ifrs-full |
Interest Income On Impaired Financial Assets Accrued
InterestIncomeOnImpairedFinancialAssetsAccrued
|
30000 | cad |
| CY2021 | hhhef |
Shares For Debt Issue
SharesForDebtIssue
|
209602 | cad |
| CY2021Q4 | ifrs-full |
Notes And Debentures Issued
NotesAndDebenturesIssued
|
493295 | cad |
| CY2022 | ifrs-full |
Interest Income On Impaired Financial Assets Accrued
InterestIncomeOnImpairedFinancialAssetsAccrued
|
30000 | cad |
| CY2022Q4 | ifrs-full |
Notes And Debentures Issued
NotesAndDebenturesIssued
|
523295 | cad |
| CY2022 | ifrs-full |
Disclosure Of Issued Capital Explanatory
DisclosureOfIssuedCapitalExplanatory
|
<p id="xdx_804_eifrs-full--DisclosureOfIssuedCapitalExplanatory_zyneQTrHFAF9" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>11. <span id="xdx_82D_zHwjF1ISQNC">CAPITAL STOCK</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a) Authorized</span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unlimited number of common and preferred shares without par value. As of December 31, 2022, there are no preferred shares issued.</span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b) Issued</span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2022, there are 5,745,947 common shares issued and outstanding.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On August 31, 2022 the Company closed the first tranche of the non-brokered private placement financing which was announced on August 8, 2022 for gross proceeds of $<span id="xdx_907_ecustom--GrossProceeds_c20220830__20220831_z9NtUoxkyDc9" title="Gross Proceeds">10,000</span> through the issuance of <span id="xdx_902_ecustom--StockIssued_c20220830__20220831_zq9MsrC3q0M6" title="Stock Issued">250,000</span> non-flow through units of the Company. Each non-flow through unit consists of one common share in the capital of the Company and one share purchase warrant to purchase an additional common share in the capital of the Company at the price of $<span id="xdx_907_ecustom--CommonStockPrice_iI_c20220831_z8umna2XGb55" title="Common stock price">0.05</span> per common share for a period of <span id="xdx_90A_ecustom--PeriodOfCommonStock_dtY_c20220830__20220831_z2lT4aDoztYb" title="Period of common stock">5</span> years. All securities issued in connection with this financing included a hold period in accordance with applicable securities laws.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 7, 2022 and October 31, 2022, the Company has closed the second, third and final tranches of the non-brokered private placement financing which was announced on August 8, 2022 for gross proceeds of $<span id="xdx_90B_ecustom--GrossProceeds_c20221006__20221007_zMcxpljCGSWc" title="Gross Proceeds"><span id="xdx_90F_ecustom--GrossProceeds_c20221030__20221031_z2Qe5n2Qi1eh" title="Gross Proceeds">38,000</span></span> through the issuance of <span id="xdx_90F_ecustom--StockIssued_c20221006__20221007_zboEKCKU0pG1" title="Stock Issued"><span id="xdx_907_ecustom--StockIssued_c20221030__20221031_zA6WpysyuSR7" title="Stock Issued">950,000</span></span> non-flow through units of the Company. Each non-flow through unit consists of one common share in the capital of the Company and one share purchase warrant to purchase an additional common share in the capital of the Company at the price of $<span id="xdx_90B_ecustom--CommonStockPrice_iI_c20221007_zYGlNWhHKuxk" title="Common stock price"><span id="xdx_90D_ecustom--CommonStockPrice_iI_c20221031_zSJ6JY8SaPld" title="Common stock price">0.05</span></span> per common share for a period of <span id="xdx_909_ecustom--PeriodOfCommonStock_dtY_c20221006__20221007_zOyKmBnIf9L7" title="Period of common stock"><span id="xdx_907_ecustom--PeriodOfCommonStock_dtY_c20221030__20221031_zS77vTWiQiaf" title="Period of common stock">5</span></span> years. All securities issued in connection with this financing included a hold period in accordance with applicable securities laws.</span></p> <p id="xdx_005_z0hRoXKwt07" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>37 CAPITAL INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 15, 2021, the Company issued <span id="xdx_903_ecustom--StockIssued_c20210114__20210115_zADsvVAko1v9" title="Stock Issued">80,000</span> flow-through units for proceeds of $<span id="xdx_904_ecustom--GrossProceeds_c20210114__20210115_zvgtTOx4qM72" title="Gross Proceeds">20,000</span>. Each flow- through unit consists of one flow-through common share of the Company and one non-flow-through share purchase warrant to acquire one non-flow-through common share of the Company at a price of $<span id="xdx_907_ecustom--CommonStockPrice_iI_c20210115_zkxTwIykeptj" title="Common stock price">0.50</span> for a period of two years. During the year-ended December 31, 2022, the Company made a formal application to Canada Revenue Agency and cancelled the Company’s flow-through share application which was submitted during the year ended December 31, 2020.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 25, 2021, the Company issued <span id="xdx_900_ecustom--StockIssued_c20210124__20210125_zMkl2j3fiURc" title="Stock issued">2,957,406</span> common shares of the Company at a price of $<span id="xdx_908_ecustom--CommonStockPrice_iI_c20210125_znuCS9wO0Ft8" title="Common stock price">0.25</span> per common share in settlement of debts totaling the amount of $<span id="xdx_909_ecustom--GrossProceeds_c20210124__20210125_zH9sta5czAii" title="Gross proceeds">739,351</span> to certain creditors, including to a related party and a director and officer of the Company. The fair value of the <span id="xdx_90F_ecustom--FairValue_c20210124__20210125_zniwgEoyKG8d" title="Fair value">2,957,406</span> common shares was </span>$<span id="xdx_90B_ecustom--CommonStockvalues_iI_c20210125_zE2weg9PCTs9" title="Common stock values">1,626,573</span>. As a result, the Company recorded a loss on debt settlement of $<span id="xdx_900_ecustom--DebtSettlement_c20210124__20210125_z4UdMEY0cPoh" title="Debt settlement">887,222</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2020, the Company issued 20,000 common shares at $0.375 per share to Eagle Plains pursuant to the Acacia Property Option Agreement (Note 5).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As at December 31, 2020, <span id="xdx_900_ecustom--CommonStockDescription_c20200101__20201231_zV1TsUmjpFu6" title="Common Stock description">Jackpot owned 9,997 common shares in the capital of the Company. During January 2021, Jackpot acquired 597,380 common shares of the Company at a price of $0.25 per share pursuant to a debt settlement agreement dated December 11, 2020. As of December 31, 2022, Jackpot owns 607,377 common shares in the capital of the Company representing approximately 10.5% of the Company’s issued and outstanding common shares.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c) Warrants</span></p> <p style="font: 10pt Times New Roman, Times, Serif">Warrants activity is as follows:</p> <table cellpadding="0" cellspacing="0" id="xdx_892_ecustom--WarrantsActivityTableTextBlock_zMOEIM7XXt5l" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - CAPITAL STOCK (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; vertical-align: top; text-align: left"><span id="xdx_8B7_zGt9LDUpJI58" style="display: none">Warrants activity</span></td><td style="vertical-align: top; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="text-align: left; font-weight: bold; vertical-align: top"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Number of Warrants</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">Weighted Average Exercise Price</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; width: 27%; text-align: left">Balance, December 31, 2020</td><td style="vertical-align: top; width: 1%; text-align: left"> </td><td style="width: 8%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_ecustom--NumberOfWarrants_iS_c20210101__20211231_zDnjcqJ0plIc" style="width: 26%; text-align: right" title="Number of Warrants Beginning Balance">964,997</td><td style="width: 1%; text-align: left"> </td><td style="width: 8%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_ecustom--WeightedAverageExercisePrice_iS_c20210101__20211231_zLu7uDayyilf" style="width: 26%; text-align: right" title="Weighted Average Exercise Price Beginning Balance">0.60</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expired</span></td><td style="vertical-align: top; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--Expired_iN_di_c20210101__20211231_zppEgi88Ej33" style="text-align: right" title="Expired">(100,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--ExpiredPershare_c20210101__20211231_zu3HEgxbQvMa" style="text-align: right" title="Expired">0.675</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Issued</span></td><td style="vertical-align: top; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--Issued_c20210101__20211231_zjdP9jeox6Z1" style="border-bottom: Black 1pt solid; text-align: right" title="Issued">80,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_ecustom--IssuedPerShare_c20210101__20211231_zS7hOFpzwjm2" style="border-bottom: Black 1pt solid; text-align: right" title="Issued">0.50</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Balance, December 31, 2021</span></td><td style="vertical-align: top; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--NumberOfWarrants_iS_c20220101__20221231_zq0FOge63bnk" style="text-align: right" title="Number of Warrants Beginning Balance">944,997</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--WeightedAverageExercisePrice_iS_c20220101__20221231_zn58snRLJjA6" style="text-align: right" title="Weighted Average Exercise Price Beginning Balance">0.59</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Issued</span></td><td style="vertical-align: top; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_ecustom--Issued_c20220101__20221231_pdd" style="text-align: right" title="Issued">1,200,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--IssuedPerShare_c20220101__20221231_pdd" style="text-align: right" title="Issued">0.05</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expired</span></td><td style="vertical-align: top; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_ecustom--Expired_iN_di_c20220101__20221231_z0XMH1CPc003" style="border-bottom: Black 1pt solid; text-align: right" title="Expired">(864,997</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--ExpiredPershare_c20220101__20221231_pdd" style="border-bottom: Black 1pt solid; text-align: right" title="Expired">0.12</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Balance, December 31, 2022</span></td><td style="vertical-align: top; padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_ecustom--NumberOfWarrants_iE_c20220101__20221231_zyHnlfhXeVxg" style="border-bottom: Black 1pt solid; text-align: right" title="Number Of Warrants Ending Balance">1,280,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_988_ecustom--WeightedAverageExercisePrice_iE_c20220101__20221231_zb5TRvsbAWjh" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price Ending Balnce">0.08</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8A3_z39JNX7Le1F4" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2022, the following warrants were outstanding:</span></p> <table cellpadding="0" cellspacing="0" id="xdx_897_ecustom--WarrantsOutstandingTableTextBlock_zXnPaXrMaJIi" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - CAPITAL STOCK (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td><span id="xdx_8B5_zsjU8YkT6aE1" style="display: none">Warrants outstanding</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-decoration: none"><b>Expiry Date</b></td><td style="text-decoration: none"><b> </b></td> <td colspan="3" style="border-bottom: Black 1pt solid; text-decoration: none; text-align: center; vertical-align: bottom"><b>Exercise Price</b></td><td style="text-decoration: none; text-align: center; vertical-align: bottom"><b> </b></td> <td colspan="3" style="border-bottom: Black 1pt solid; text-decoration: none; text-align: center; vertical-align: bottom"><b>Number of Warrants Outstanding</b></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%">January 15, 2023</td><td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_ecustom--WarrantsExercisePrice_c20220101__20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantOneMember_zLPGBMlBYLz4" style="width: 12%; text-align: right" title="Exercise Price">0.50</td><td style="width: 1%; text-align: left"> </td><td style="width: 8%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_ecustom--WarrantOutstanding_c20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantOneMember_pdd" style="width: 12%; text-align: right" title="Number of Warrants Outstanding">80,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>August 31, 2027</td><td> </td> <td style="text-align: left">$</td><td id="xdx_982_ecustom--WarrantsExercisePrice_c20220101__20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantTwoMember_zDIsg34rV6f5" style="text-align: right" title="Exercise Price">0.05</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_ecustom--WarrantOutstanding_iI_c20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantTwoMember_zcfRsjCVITL5" style="text-align: right" title="Number of Warrants Outstanding">250,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>October 7, 2027</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_ecustom--WarrantsExercisePrice_c20220101__20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantThreeMember_z2CGDbkHtKeb" style="text-align: right" title="Exercise Price">0.05</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--WarrantOutstanding_iI_c20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantThreeMember_zom7osWLwVRf" style="text-align: right" title="Number of Warrants Outstanding">750,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">October 31, 2027</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_988_ecustom--WarrantsExercisePrice_c20220101__20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantFourMember_zAsGo1lgJc0c" style="border-bottom: Black 1pt solid; text-align: right" title="Exercise Price">0.05</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_ecustom--WarrantOutstanding_iI_c20221231__ifrs-full--TypesOfSharebasedPaymentArrangementsAxis__custom--WarrantFourMember_zMip2PdBixGa" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Warrants Outstanding">200,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_ecustom--WarrantOutstanding_c20221231_pdd" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Warrants Outstanding">1,280,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8AA_ze2NPzH5VcPd"/> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The weighted average remaining contractual life for warrants outstanding at December 31, 2022 is <span id="xdx_904_ecustom--WeightedAverageRemainingContractualLifeForWarrantsOutstanding_dtY_c20220101__20221231_zQ3xwkz7ffve" title="Weighted average remaining contractual life for warrants outstanding">4.46</span> years (2021 - <span id="xdx_902_ecustom--WeightedAverageRemainingContractualLifeForWarrantsOutstanding_dtY_c20210101__20211231_zWHYOB2uwDOf" title="Weighted average remaining contractual life for warrants outstanding">0.86</span> years).</span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d) Stock options</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s 2015 Stock Option Plan provides that the Board of Directors of the Company may grant to directors, officers, employees and consultants of the Company options to acquire up to 20% of the issued and outstanding common shares of the Company calculated from time to time on a rolling basis. The terms of the options are determined at the date of grant.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2022, there were no stock options outstanding (2021 – Nil).</span></p> | |
| CY2022Q3 | hhhef |
Gross Proceeds
GrossProceeds
|
10000 | cad |
| CY2022Q3 | hhhef |
Stock Issued
StockIssued
|
250000 | shares |
| CY2022Q3 | hhhef |
Common Stock Price
CommonStockPrice
|
0.05 | |
| CY2022Q3 | hhhef |
Period Of Common Stock
PeriodOfCommonStock
|
P5Y | |
| CY2022Q4 | hhhef |
Gross Proceeds
GrossProceeds
|
38000 | cad |
| CY2022Q4 | hhhef |
Gross Proceeds
GrossProceeds
|
38000 | cad |
| CY2022Q4 | hhhef |
Stock Issued
StockIssued
|
950000 | shares |
| CY2022Q4 | hhhef |
Stock Issued
StockIssued
|
950000 | shares |
| CY2022Q4 | hhhef |
Common Stock Price
CommonStockPrice
|
0.05 | |
| CY2022Q4 | hhhef |
Common Stock Price
CommonStockPrice
|
0.05 | |
| CY2022Q4 | hhhef |
Period Of Common Stock
PeriodOfCommonStock
|
P5Y | |
| CY2022Q4 | hhhef |
Period Of Common Stock
PeriodOfCommonStock
|
P5Y | |
| CY2021Q1 | hhhef |
Stock Issued
StockIssued
|
80000 | shares |
| CY2021Q1 | hhhef |
Gross Proceeds
GrossProceeds
|
20000 | cad |
| CY2021Q1 | hhhef |
Common Stock Price
CommonStockPrice
|
0.50 | |
| CY2021Q1 | hhhef |
Stock Issued
StockIssued
|
2957406 | shares |
| CY2021Q1 | hhhef |
Common Stock Price
CommonStockPrice
|
0.25 | |
| CY2021Q1 | hhhef |
Gross Proceeds
GrossProceeds
|
739351 | cad |
| CY2021Q1 | hhhef |
Fair Value
FairValue
|
2957406 | cad |
| CY2021Q1 | hhhef |
Common Stockvalues
CommonStockvalues
|
1626573 | cad |
| CY2021Q1 | hhhef |
Debt Settlement
DebtSettlement
|
887222 | cad |
| CY2020 | hhhef |
Common Stock Description
CommonStockDescription
|
Jackpot owned 9,997 common shares in the capital of the Company. During January 2021, Jackpot acquired 597,380 common shares of the Company at a price of $0.25 per share pursuant to a debt settlement agreement dated December 11, 2020. As of December 31, 2022, Jackpot owns 607,377 common shares in the capital of the Company representing approximately 10.5% of the Company’s issued and outstanding common shares. | |
| CY2020Q4 | hhhef |
Number Of Warrants
NumberOfWarrants
|
964997 | shares |
| CY2020Q4 | hhhef |
Weighted Average Exercise Price
WeightedAverageExercisePrice
|
0.60 | |
| CY2021 | hhhef |
Expired
Expired
|
100000 | shares |
| CY2021 | hhhef |
Expired Pershare
ExpiredPershare
|
0.675 | |
| CY2021 | hhhef |
Issued
Issued
|
80000 | shares |
| CY2021 | hhhef |
Issued Per Share
IssuedPerShare
|
0.50 | |
| CY2021Q4 | hhhef |
Number Of Warrants
NumberOfWarrants
|
944997 | shares |
| CY2021Q4 | hhhef |
Weighted Average Exercise Price
WeightedAverageExercisePrice
|
0.59 | |
| CY2022 | hhhef |
Issued
Issued
|
1200000 | shares |
| CY2022 | hhhef |
Issued Per Share
IssuedPerShare
|
0.05 | |
| CY2022 | hhhef |
Expired
Expired
|
864997 | shares |
| CY2022 | hhhef |
Expired Pershare
ExpiredPershare
|
0.12 | |
| CY2022Q4 | hhhef |
Number Of Warrants
NumberOfWarrants
|
1280000 | shares |
| CY2022Q4 | hhhef |
Weighted Average Exercise Price
WeightedAverageExercisePrice
|
0.08 | |
| CY2022Q4 | hhhef |
Warrant Outstanding
WarrantOutstanding
|
1280000 | shares |
| CY2022 | hhhef |
Weighted Average Remaining Contractual Life For Warrants Outstanding
WeightedAverageRemainingContractualLifeForWarrantsOutstanding
|
P4Y5M15D | |
| CY2021 | hhhef |
Weighted Average Remaining Contractual Life For Warrants Outstanding
WeightedAverageRemainingContractualLifeForWarrantsOutstanding
|
P0Y10M9D | |
| CY2022 | hhhef |
Schedule Of Changes In Noncash Working Capital Tabletext Block
ScheduleOfChangesInNoncashWorkingCapitalTabletextBlock
|
<table cellpadding="0" cellspacing="0" id="xdx_887_ecustom--ScheduleOfChangesInNoncashWorkingCapitalTabletextBlock_zSBqPBeFkAYh" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - CHANGES IN NON-CASH WORKING CAPITAL (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td><span id="xdx_8B4_zDWLrfObicMg" style="display: none">Schedule Of Changes in noncash working capital</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_493_20220101__20221231_zvj8Fzpx3Gu9" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49E_20210101__20211231_zH8igkjejTf8" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_498_20200101__20201231_zIxUfiviMlQ6" style="text-align: center"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2022</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2021</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2020</td></tr> <tr id="xdx_40F_ecustom--GstReceivable_i_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">GST receivable</td><td style="width: 5%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">(1,058</td><td style="width: 1%; text-align: left">)</td><td style="width: 5%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">60</td><td style="width: 1%; text-align: left"> </td><td style="width: 5%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">78</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eifrs-full--AdjustmentsForIncreaseDecreaseInTradeAccountPayable_i_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accounts payable and accrued liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,162</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,698</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">226,068</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eifrs-full--ServicesReceivedRelatedPartyTransactions_zgy0AhyRnhu3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Due to related parties</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">28,072</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">28,731</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(137,796</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_404_ecustom--ChangesInNoncashWorkingCapital_i_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="color: White; padding-bottom: 1pt">Changes in non-cash working capital </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">53,176</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">37,489</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">88,350</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eifrs-full--AdditionalInformationAbstract_iB" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Supplemental information</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eifrs-full--OtherMaterialNoncashItems_i01_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Non-cash items</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eifrs-full--InterestExpenseOnBonds_i01_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest expense included in convertible debt</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">30,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">30,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">45,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eifrs-full--InterestExpenseOnDepositsFromCustomers_i01_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest expense included in due to related parties</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">889</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0866">—</span> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,961</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--SharesIssuedForMineralPropertyInterests_i01_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Shares issued for mineral property interests</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0870">—</span> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,500</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--SharesIssuedForDebt_i01_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Shares issued for debt</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0873">—</span> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,626,319</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0875">—</span> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> | |
| CY2022 | hhhef |
Gst Receivable
GstReceivable
|
-1058 | cad |
| CY2021 | hhhef |
Gst Receivable
GstReceivable
|
60 | cad |
| CY2020 | hhhef |
Gst Receivable
GstReceivable
|
78 | cad |
| CY2022 | ifrs-full |
Adjustments For Increase Decrease In Trade Account Payable
AdjustmentsForIncreaseDecreaseInTradeAccountPayable
|
26162 | cad |
| CY2021 | ifrs-full |
Adjustments For Increase Decrease In Trade Account Payable
AdjustmentsForIncreaseDecreaseInTradeAccountPayable
|
8698 | cad |
| CY2020 | ifrs-full |
Adjustments For Increase Decrease In Trade Account Payable
AdjustmentsForIncreaseDecreaseInTradeAccountPayable
|
226068 | cad |
| CY2022 | ifrs-full |
Services Received Related Party Transactions
ServicesReceivedRelatedPartyTransactions
|
28072 | cad |
| CY2021 | ifrs-full |
Services Received Related Party Transactions
ServicesReceivedRelatedPartyTransactions
|
28731 | cad |
| CY2020 | ifrs-full |
Services Received Related Party Transactions
ServicesReceivedRelatedPartyTransactions
|
-137796 | cad |
| CY2022 | hhhef |
Changes In Noncash Working Capital
ChangesInNoncashWorkingCapital
|
53176 | cad |
| CY2021 | hhhef |
Changes In Noncash Working Capital
ChangesInNoncashWorkingCapital
|
37489 | cad |
| CY2020 | hhhef |
Changes In Noncash Working Capital
ChangesInNoncashWorkingCapital
|
88350 | cad |
| CY2022 | ifrs-full |
Interest Expense On Bonds
InterestExpenseOnBonds
|
30000 | cad |
| CY2021 | ifrs-full |
Interest Expense On Bonds
InterestExpenseOnBonds
|
30000 | cad |
| CY2020 | ifrs-full |
Interest Expense On Bonds
InterestExpenseOnBonds
|
45000 | cad |
| CY2022 | ifrs-full |
Interest Expense On Deposits From Customers
InterestExpenseOnDepositsFromCustomers
|
889 | cad |
| CY2020 | ifrs-full |
Interest Expense On Deposits From Customers
InterestExpenseOnDepositsFromCustomers
|
3961 | cad |
| CY2022 | hhhef |
Shares Issued For Mineral Property Interests
SharesIssuedForMineralPropertyInterests
|
1000 | cad |
| CY2020 | hhhef |
Shares Issued For Mineral Property Interests
SharesIssuedForMineralPropertyInterests
|
7500 | cad |
| CY2021 | hhhef |
Shares Issued For Debt
SharesIssuedForDebt
|
1626319 | cad |
| CY2022 | ifrs-full |
Disclosure Of Income Tax Explanatory
DisclosureOfIncomeTaxExplanatory
|
<p id="xdx_80B_eifrs-full--DisclosureOfIncomeTaxExplanatory_zGuxpHzIWqml" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>13. <span id="xdx_822_ztBUczQNk7W3">INCOME TAXES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income tax expense differs from the amount that would be computed by applying the Canadian statutory income tax rate of <span id="xdx_90D_eifrs-full--ApplicableTaxRate_dp_c20220101__20221231_zGZRL8Bxih2j" title="Income tax rate">27</span>.00% to income before income taxes.</span></p> <table cellpadding="0" cellspacing="0" id="xdx_89C_ecustom--ScheduleOfIncomeTaxExpensesTableTextBlock_zXD5yVmWkn9k" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INCOME TAXES (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span id="xdx_8BC_zKhSejeXf6Hd" style="display: none">Schedule of income tax expenses</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_491_20220101__20221231_z89f3WSmtURi" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49D_20210101__20211231_zN1zskjYtqq3" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_496_20200101__20201231_z5Rwpa1QwyP5" style="text-align: center"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">For the years ended December 31,</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">2022</td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt; vertical-align: bottom"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2021</td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt; vertical-align: bottom"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2020</td></tr> <tr id="xdx_408_eifrs-full--ProfitLossBeforeTax_i_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; width: 46%">Loss before income taxes</td><td style="width: 5%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">125,036</td><td style="width: 1%; text-align: left"> </td><td style="width: 5%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">1,044,863</td><td style="width: 1%; text-align: left"> </td><td style="width: 5%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">133,379</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Statutory income tax rate</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_902_eifrs-full--ApplicableTaxRate_dp_c20220101__20221231_zJh35aNANDn" title="Statutory income tax rate">27</span></td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_906_eifrs-full--ApplicableTaxRate_dp_c20210101__20211231_zfJAC4G5BZD3" title="Statutory income tax rate">27.00</span></td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_903_eifrs-full--ApplicableTaxRate_dp_c20200101__20201231_zTbP1q1Wm652" title="Statutory income tax rate">27.00</span></td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr id="xdx_403_eifrs-full--AdjustmentsForIncomeTaxExpense_i_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Expected income tax benefit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(33,760</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(282,113</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(36,012</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_ecustom--ItemsNotDeductibleForIncomeTaxPurposes_i_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Items not deductible for income tax purposes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0897">—</span> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">250,350</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0899">—</span> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--UnderprovidedInPriorYears_i_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Underprovided in prior years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(36,896</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(85,905</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(97,367</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eifrs-full--TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceCurrentTaxExpense_iN_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Unrecognized benefit of deferred tax assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">70,656</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">117,667</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">133,379</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eifrs-full--IncomeTaxExpenseContinuingOperations_i_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Income tax expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0909">—</span> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0910">—</span> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0911">—</span> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8A4_zm6U3cc10RL5" style="font: 10pt Times New Roman, Times, Serif"/> <p id="xdx_008_295scx4QCpc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>37 CAPITAL INC.</b></span></p> <p id="xdx_00B_zWkw1WoRDWTd" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes to Financial Statements</b></span></p> <p id="xdx_005_zZ4kxXUwl8Ki" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For Years Ended December 31, 2022 and 2021</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes tax benefits on losses or other deductible amounts where it is probable the Company will generate sufficient taxable income to utilize deferred tax assets. The Company’s unrecognized deductible temporary differences and unused tax losses for which no deferred tax asset is recognized consist of the following amounts:</span></p> <table cellpadding="0" cellspacing="0" id="xdx_89E_ecustom--ScheduleOfUnrecognizedDeductibleTemporaryDifferencesAndUnusedTaxLossesTableTextBlock_z4qJq2zdQ3tb" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - INCOME TAXES (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span id="xdx_8B1_z8EOswQQb6w9" style="display: none">Schedule of unrecognized deductible temporary differences and unused tax losses</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_49B_20220101__20221231_zzOEe97qUlve" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_491_20210101__20211231_zZZX58xPsuke" style="text-align: center"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">For the years ended December 31,</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2022</td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt; vertical-align: bottom"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold; vertical-align: bottom">2021</td></tr> <tr id="xdx_40E_ecustom--ExcessOfUnusedExplorationExpendituresOverCarryingValueOfMineralPropertyInterests_i_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left">Excess of unused exploration expenditures over carrying value of mineral property interests</td><td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">2,656,168</td><td style="width: 1%; text-align: left"> </td><td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">2,656,168</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--ExcessOfUndepreciatedCapitalCostOverCarryingValueOfFixedAssets_i_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Excess of undepreciated capital cost over carrying value of fixed assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">698,593</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">698,593</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--NonrefundableMiningInvestmentTaxCredits_i_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Non-refundable mining investment tax credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">247</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">247</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--NoncapitalLossesCarriedForward_i_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Non-capital losses carried forward</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,597,836</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,336,148</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--CapitalLossesCarriedForward_i_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Capital losses carried forward</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">993,649</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">993,649</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_ecustom--UnrecognizedDeductibleTemporaryDifferences_i_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Unrecognized deductible temporary differences</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">8,946,493</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">8,684,805</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8A6_ztuLujmqxWyb" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At December 31, 2022, the Company has non-capital losses of $<span id="xdx_90A_ecustom--UnrecognizedUnusedNoncapitalTaxLosses_pp0p0_c20220101__20221231_zFmHtFpT1N35" title="Unrecognized unused non-capital tax losses">4,587,836</span> (2021 - $<span id="xdx_908_ecustom--UnrecognizedUnusedNoncapitalTaxLosses_pp0p0_c20210101__20211231_zwwQNk0oP5q5" title="Unrecognized unused non-capital tax losses">4,336,000</span> ), that have not been recognized and may be carried forward and applied against Canadian taxable income of future years. The non-capital losses expire in the years 2027-2042.</span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has available approximate net capital losses of $<span id="xdx_901_ecustom--NetCapitalLossesCarriedForward_pp0p0_c20220101__20221231_zFlzT85c7M2i" title="Net capital losses carried forward">994,000</span> that may be carried forward indefinitely. The Company has available resource-related deductions of approximately $<span id="xdx_902_ecustom--AvailableResourcerelatedDeductionsCarriedForward_pp0p0_c20220101__20221231_zytx2rSUL9G6" title="Available resource-related deductions carried forward">2,710,000</span> that may be carried forward indefinitely.</span></p> | |
| CY2022 | ifrs-full |
Applicable Tax Rate
ApplicableTaxRate
|
0.27 | pure |
| CY2022 | ifrs-full |
Profit Loss Before Tax
ProfitLossBeforeTax
|
125036 | cad |
| CY2021 | ifrs-full |
Profit Loss Before Tax
ProfitLossBeforeTax
|
1044863 | cad |
| CY2020 | ifrs-full |
Profit Loss Before Tax
ProfitLossBeforeTax
|
133379 | cad |
| CY2022 | ifrs-full |
Applicable Tax Rate
ApplicableTaxRate
|
0.27 | pure |
| CY2021 | ifrs-full |
Applicable Tax Rate
ApplicableTaxRate
|
0.2700 | pure |
| CY2020 | ifrs-full |
Applicable Tax Rate
ApplicableTaxRate
|
0.2700 | pure |
| CY2022 | ifrs-full |
Adjustments For Income Tax Expense
AdjustmentsForIncomeTaxExpense
|
-33760 | cad |
| CY2021 | ifrs-full |
Adjustments For Income Tax Expense
AdjustmentsForIncomeTaxExpense
|
-282113 | cad |
| CY2020 | ifrs-full |
Adjustments For Income Tax Expense
AdjustmentsForIncomeTaxExpense
|
-36012 | cad |
| CY2021 | hhhef |
Items Not Deductible For Income Tax Purposes
ItemsNotDeductibleForIncomeTaxPurposes
|
250350 | cad |
| CY2022 | hhhef |
Underprovided In Prior Years
UnderprovidedInPriorYears
|
-36896 | cad |
| CY2021 | hhhef |
Underprovided In Prior Years
UnderprovidedInPriorYears
|
-85905 | cad |
| CY2020 | hhhef |
Underprovided In Prior Years
UnderprovidedInPriorYears
|
-97367 | cad |
| CY2022 | ifrs-full |
Tax Benefit Arising From Previously Unrecognised Tax Loss Tax Credit Or Temporary Difference Of Prior Period Used To Reduce Current Tax Expense
TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceCurrentTaxExpense
|
70656 | cad |
| CY2021 | ifrs-full |
Tax Benefit Arising From Previously Unrecognised Tax Loss Tax Credit Or Temporary Difference Of Prior Period Used To Reduce Current Tax Expense
TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceCurrentTaxExpense
|
117667 | cad |
| CY2020 | ifrs-full |
Tax Benefit Arising From Previously Unrecognised Tax Loss Tax Credit Or Temporary Difference Of Prior Period Used To Reduce Current Tax Expense
TaxBenefitArisingFromPreviouslyUnrecognisedTaxLossTaxCreditOrTemporaryDifferenceOfPriorPeriodUsedToReduceCurrentTaxExpense
|
133379 | cad |
| CY2022 | hhhef |
Excess Of Unused Exploration Expenditures Over Carrying Value Of Mineral Property Interests
ExcessOfUnusedExplorationExpendituresOverCarryingValueOfMineralPropertyInterests
|
2656168 | cad |
| CY2021 | hhhef |
Excess Of Unused Exploration Expenditures Over Carrying Value Of Mineral Property Interests
ExcessOfUnusedExplorationExpendituresOverCarryingValueOfMineralPropertyInterests
|
2656168 | cad |
| CY2022 | hhhef |
Excess Of Undepreciated Capital Cost Over Carrying Value Of Fixed Assets
ExcessOfUndepreciatedCapitalCostOverCarryingValueOfFixedAssets
|
698593 | cad |
| CY2021 | hhhef |
Excess Of Undepreciated Capital Cost Over Carrying Value Of Fixed Assets
ExcessOfUndepreciatedCapitalCostOverCarryingValueOfFixedAssets
|
698593 | cad |
| CY2022 | hhhef |
Nonrefundable Mining Investment Tax Credits
NonrefundableMiningInvestmentTaxCredits
|
247 | cad |
| CY2021 | hhhef |
Nonrefundable Mining Investment Tax Credits
NonrefundableMiningInvestmentTaxCredits
|
247 | cad |
| CY2022 | hhhef |
Noncapital Losses Carried Forward
NoncapitalLossesCarriedForward
|
4597836 | cad |
| CY2021 | hhhef |
Noncapital Losses Carried Forward
NoncapitalLossesCarriedForward
|
4336148 | cad |
| CY2022 | hhhef |
Capital Losses Carried Forward
CapitalLossesCarriedForward
|
993649 | cad |
| CY2021 | hhhef |
Capital Losses Carried Forward
CapitalLossesCarriedForward
|
993649 | cad |
| CY2022 | hhhef |
Unrecognized Deductible Temporary Differences
UnrecognizedDeductibleTemporaryDifferences
|
8946493 | cad |
| CY2021 | hhhef |
Unrecognized Deductible Temporary Differences
UnrecognizedDeductibleTemporaryDifferences
|
8684805 | cad |
| CY2022 | hhhef |
Unrecognized Unused Noncapital Tax Losses
UnrecognizedUnusedNoncapitalTaxLosses
|
4587836 | cad |
| CY2021 | hhhef |
Unrecognized Unused Noncapital Tax Losses
UnrecognizedUnusedNoncapitalTaxLosses
|
4336000 | cad |
| CY2022 | hhhef |
Net Capital Losses Carried Forward
NetCapitalLossesCarriedForward
|
994000 | cad |
| CY2022 | hhhef |
Available Resourcerelated Deductions Carried Forward
AvailableResourcerelatedDeductionsCarriedForward
|
2710000 | cad |
| CY2022 | ifrs-full |
Disclosure Of Commitments Explanatory
DisclosureOfCommitmentsExplanatory
|
<p id="xdx_80A_eifrs-full--DisclosureOfCommitmentsExplanatory_zUQwLhQKRhci" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>14. <span id="xdx_820_zu7OkN5luQCb">COMMITMENTS</span></b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a)</span></td><td style="width: 5pt"/><td style="text-align: justify">The Company has an office lease agreement with Jackpot. Under the agreement, the Company is entitled to have office space from Jackpot at a monthly rate of $<span id="xdx_907_ecustom--OfficeSupportServicesExpenses_pp0p0_c20220101__20221231_zbnxOMDjNSA4" title="Office support services expenses">1,000</span> plus applicable taxes. <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Furthermore,</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jackpot or the Company may terminate this agreement by giving each other a three months’ notice in writing.</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; text-align: right"/> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">b)</span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has an office support services agreement with Jackpot which has been extended until March 31, 2023. Under the agreement, the Company is entitled to receive office support services from Jackpot at a monthly rate of $<span id="xdx_907_ecustom--OfficeSupportServicesExpenses_pp0p0_c20220101__20221231_zR3zuor5FmW6" title="Office support services expenses">1,000</span> plus applicable taxes. Either Jackpot or the Company may terminate this agreement by giving each other a three months’ notice in writing.</span></td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">c)</span></td><td style="width: 5pt"/><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In relation to the flow-through private placement completed during January 2021, the Company was committed to incur and renounce $<span id="xdx_906_eifrs-full--PaymentsForExplorationAndEvaluationExpenses_c20220101__20221231_z2vTalQ70Xsb" title="Exploration expenditures">20,000</span> in Canadian exploration expenditures by December 31, 2022. The Company was unable to incur the $<span id="xdx_90E_eifrs-full--PaymentsForExplorationAndEvaluationExpenses_c20220101__20221231_zgSszhMMPm1i" title="Exploration expenditures">20,000</span>. The Company has agreed to indemnify the flow-through shareholder for certain costs incurred by the shareholder as a result of the Company not meeting its obligation to spend the flow-through share proceeds on qualifying Canadian exploration expenditures in compliance with the applicable tax rules and pursuant to the share subscription agreement. As at December 31, 2022 the Company has included a provision for indemnification of the flow through shareholder for an amount of</span> $<span id="xdx_90B_eifrs-full--TradeAndOtherPayables_iI_c20221231_z3zKBfYpgSmk" title="Accounts payable">10,000</span> in accounts payable.</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif"/> | |
| CY2022 | hhhef |
Office Support Services Expenses
OfficeSupportServicesExpenses
|
1000 | cad |
| CY2022 | hhhef |
Office Support Services Expenses
OfficeSupportServicesExpenses
|
1000 | cad |
| CY2022 | ifrs-full |
Payments For Exploration And Evaluation Expenses
PaymentsForExplorationAndEvaluationExpenses
|
20000 | cad |
| CY2022 | ifrs-full |
Payments For Exploration And Evaluation Expenses
PaymentsForExplorationAndEvaluationExpenses
|
20000 | cad |
| CY2022Q4 | ifrs-full |
Trade And Other Payables
TradeAndOtherPayables
|
10000 | cad |
| CY2022 | ifrs-full |
Disclosure Of Financial Risk Management Explanatory
DisclosureOfFinancialRiskManagementExplanatory
|
<p id="xdx_808_eifrs-full--DisclosureOfFinancialRiskManagementExplanatory_zbF55VPpQDe1" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>15. <span id="xdx_822_zWxkJ9dv94ll">CAPITAL MANAGEMENT</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company considers its capital to be comprised of stockholders’ deficiency and convertible debenture.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s objective when managing capital is to maintain adequate levels of funding to support the acquisition, exploration and, if warranted, the development of mineral properties, to invest in non-mining related projects and to maintain the necessary corporate and administrative functions to facilitate these activities. This is done primarily through equity and debt financing. Future financings are dependent on market conditions and there can be no assurance that the Company will be able to raise funds in the future. There were no changes to the Company’s approach to capital management during the year ended December 31, 2022. The Company is not subject to externally imposed capital requirements.</span></p> | |
| CY2022 | ifrs-full |
Disclosure Of Financial Instruments Explanatory
DisclosureOfFinancialInstrumentsExplanatory
|
<p id="xdx_80A_eifrs-full--DisclosureOfFinancialInstrumentsExplanatory_z3A6EkSGtQYe" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>16. <span id="xdx_82C_zRzDP81sz8nh">FINANCIAL INSTRUMENTS AND RISK MANAGEMENT</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risk management overview</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company's activities expose it to a variety of financial risks including credit risk, liquidity risk and market risk. This note presents information about the Company's exposure to each of the above risks, the Company's objectives, policies and processes for measuring and managing risk, and the Company's management of capital. The Company employs risk management strategies and policies to ensure that any exposure to risk is in compliance with the Company's business objectives and risk tolerance levels. While the Board of Directors has the overall responsibility for the Company's risk management framework, the Company's management has the responsibility to administer and monitor these risks.</span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair value of financial instruments</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fair values of cash, accounts payable and accrued liabilities, due to related parties, loan payable and convertible debentures approximate their carrying values due to the short-term maturity of these instruments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">IFRS establishes a fair value hierarchy that reflects the significance of the inputs used in making the measurements. The fair value hierarchy has the following levels:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1 – quoted prices (unadjusted) in active markets for identical assets or liabilities;</span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2 – inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices); and</span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3 – inputs for the asset or liability that are not based on observable market data (unobservable inputs).</span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Credit risk</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations. The financial instruments that potentially subject the Company to a significant concentration of credit risk consist of cash. The Company mitigates its exposure to credit loss associated with cash by placing its cash with a major financial institution.</span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liquidity risk</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they are due. The Company's approach to managing liquidity is to ensure that it will have sufficient liquidity to meet its liabilities when due.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At December 31, 2022, the Company had cash of $<span id="xdx_903_eifrs-full--Cash_iI_pp0p0_c20221231_zz9nPmJ2duVa" title="Cash">122</span> (2021 - $<span id="xdx_90B_eifrs-full--Cash_iI_pp0p0_c20211231_z36Pje9JMJ7a" title="Cash">1,611</span>) available to apply against short-term business requirements and current liabilities of $<span id="xdx_90D_eifrs-full--CurrentLiabilities_iI_pp0p0_c20221231_zHFgF7Q1BOHc" title="Current liabilities">826,925</span> (2021 -</span>$<span id="xdx_90A_eifrs-full--CurrentLiabilities_iI_pp0p0_c20211231_zYXQk7lvg9Kf" title="Current liabilities">697,319</span> ). All of the current liabilities, are due within 90 days. Amounts due to related parties are due on demand. As of December 31, 2022, two convertible debentures together with the accrued interest are outstanding , and the loan payable in the amount of $50,000 plus accrued interest in the amount of $<span id="xdx_90D_ecustom--AccruedInterests_iI_c20221231_zbAMomdJWxL2" title="Accrued interest">7,973</span> are due. Liquidity risk is assessed as high.</p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Market risk</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Market risk is the risk that changes in market prices, such as interest rates and foreign exchange rates, will affect the Company's net earnings or the value of financial instruments. As at December 31, 2022, the Company is not exposed to significant interest rate risk, currency risk or other price risk on its financial assets and liabilities due to the short-term maturity of its financial liabilities and the fixed interest rate on the outstanding convertible debentures.</span></p> | |
| CY2022Q4 | ifrs-full |
Cash
Cash
|
122 | cad |
| CY2021Q4 | ifrs-full |
Cash
Cash
|
1611 | cad |
| CY2022Q4 | ifrs-full |
Current Liabilities
CurrentLiabilities
|
826925 | cad |
| CY2021Q4 | ifrs-full |
Current Liabilities
CurrentLiabilities
|
697319 | cad |
| CY2022Q4 | hhhef |
Accrued Interests
AccruedInterests
|
7973 | cad |
| CY2022 | hhhef |
Disclosure Of Investments Property Explanatory
DisclosureOfInvestmentsPropertyExplanatory
|
<p id="xdx_800_ecustom--DisclosureOfInvestmentsPropertyExplanatory_zOdvCAmuzaF" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>17. <span id="xdx_820_zUcZlQ8fC2S2">INVESTMENT</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In April 2013, the Company entered into a purchase and sale agreement with a Mexican gaming company, whereby the Company agreed to purchase a royalty revenue stream of an amount the greater of 10% of the net profits or 5% of the gross revenues of the Mexican land-based casino for a purchase price of $<span id="xdx_90B_ecustom--PurchasePrice_iI_c20130430_zmVLjkgvZiHh" title="Purchase price">800,000</span>. As at December 31, 2014, the Company assessed the fair value of the investment and recorded impairment of $<span id="xdx_904_eifrs-full--ImpairmentLoss_c20141230__20141231_zsKCXCViqvhc" title="Impairment loss">799,999</span> on the investment due to nominal royalty payments received up to that date. On December 31, 2021, the Company received confirmation that the purchase and sale agreement with the Mexican gaming company has been terminated and is of no further effect. Accordingly, the Company recorded an impairment loss of $1 as at December 31, 2021.</span></p> | |
| CY2013Q2 | hhhef |
Purchase Price
PurchasePrice
|
800000 | cad |
| CY2014Q4 | ifrs-full |
Impairment Loss
ImpairmentLoss
|
799999 | cad |
