NOTICE OF NO AUDITOR REVIEW OF CONDENSED INTERIM CONSOLIDATED
FINANCIAL STATEMENTS
The accompanying unaudited condensed interim consolidated financial statements of Viscount Mining Corp. (the "Company") for the six months ended February 28, 2022 and 2021 have been prepared by and are the responsibility of the Company's management.
The Company's independent auditor has not performed a review of these condensed interim consolidated financial statements
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Expressed in Canadian dollars)
As at
As at
February 28, 2022
August 31, 2021
Notes
$
$
ASSETS
Current assets
Cash
3
1,629,409
2,571,328
Amounts receivable and prepaid expenses
4
137,796
97,286
Recoverable from Joint Venture Partner
5A
237,434
192,230
2,004,639
2,860,844
Reclamation bond
30,005
26,172
Exploration and evaluation properties
5
5,415,003
4,878,419
Total Assets
7,449,647
7,765,435
LIABILITIES
Current liabilities
Trade payables and accrued liabilities
124,102
79,643
Total Liabilities
124,102
79,643
SHAREHOLDERS' EQUITY
Share capital
7
18,329,023
17,958,623
Subscriptions receivable
(185,875)
(185,875)
Reserves
8
2,192,440
2,241,778
Accumulated deficit
(13,010,043)
(12,328,734)
Total shareholders' equity
7,325,545
7,685,792
Total Shareholders' Equity and Liabilities
7,449,647
7,765,435
Nature and Continuance of Operations (Note 1)
Events Occurring After the Reporting Date (Note 13)
These consolidated financial statements are authorized for issuance by the Board of Directors on April 19, 2022
On behalf of the Board:
"Jim MacKenzie"
Director
"William Macdonald"
DirectorCONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS (Expressed in Canadian dollars)
Six Months Ended
Six Months Ended
Three Months Ended
Three Months Ended
Notes
February 28, 2022
February 28, 2021
February 28, 2022
February 28, 2021
$
$
$
$
Expenses
Bank charges, interest and fees
1,649
1,088
396
358
Consulting and management compensation
6
306,514
264,919
148,049
110,463
Insurance
31,093
37,035
24,760
23,371
Legal and accounting
141,669
84,326
100,217
40,859
Office and miscellaneous
17,104
11,116
9,995
836
Promotion
293,222
326,460
239,184
52,485
Transfer agent and filing fees
7,423
20,984
1,241
13,910
Total expenses
(798,674)
(745,928)
(523,842)
(242,282)
Other income
Government assistance
6
-
10,000
-
-
Interest Income
906
-
-
-
Centerra management fees
5
78,945
-
64,745
-
Net loss
(718,823)
(735,928)
(459,097)
(242,282)
Foreign exchange gain/(loss)
(11,824)
3,888
(14,216)
1,496
Interest and penalties
-
3,172
-
3,309
Net loss and comprehensive loss
(730,647)
(728,868)
(473,313)
(237,477)
Loss per share, basic and diluted
(0.008)
(0.009)
(0.01)
(0.00)
Weighted average number of common shares
outstanding, basic and diluted
86,106,962
82,218,168
85,392,128
54,360,750
VISCOUNT MINING CORP.
CONSOLIDATED STATEMENTS OF CASH FLOWS (Expressed in Canadian dollars)
Six Months Ended
Six Months Ended
February 28, 2022
February 28, 2021
$
$
Cash flows used in operating activities
Net loss year to date
(730,647)
(728,868)
Adjustments for non-cash items:
Government assistance
-
(10,000)
Changes in operating assets and liabilities:
Related parties
-
(108,241)
Receivable and prepaid expenses
(40,510)
(92,226)
Recoverable from Joint Venture Partner
(45,204)
-
Deferred recoveries
-
74,846
Reclamation bond
(3,833)
(2,000)
Trade payables and accrued liabilities
44,459
(169,385)
(775,735)
(1,035,874)
Cash flows used in investing activities
Exploration and evaluation properties expenditures
(520,584)
(469,708)
(520,584)
(469,708)
Cash flows from financing activities
Issuance of common shares-warrants exercised
354,400
884,514
Repayment of COVID loan net of Government Assistance
-
(30,000)
354,400
854,514
Increase/(decrease) in cash
(941,919)
(651,068)
Cash, beginning of year
2,571,328
4,264,224
Cash, end of quarter
1,629,409
3,613,156
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Viscount Mining Corp. published this content on 29 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 April 2022 00:43:08 UTC.
Viscount Mining Corp. is a Canada-based project generator and an exploration company. The Company has a portfolio of silver and gold properties in the Western United States, including Silver Cliff in Colorado and Cherry Creek in Nevada. The Silver Cliff property in Colorado lies within the Hardscrabble Silver District in the Wet Mountain Valley, Custer County, south-central Colorado. It is located 44 miles WSW of Pueblo, Colorado. The property consists of 96 lode claims, which has high grade silver, gold and base metal. The Cherry Creek Project is located approximately 90 miles south of Wells, in White Pine County, Nevada, comprising 9,000 acres, including more than 20 silver and gold mines. The Cherry Creek exploration property is in an area commonly known as the Cherry Creek Mining District, located approximately 50 miles north of the town of Ely, White Pine County, Nevada. The project consists of 578 unpatented and 17 patented claims as well as mill rights.