Vision Lithium Inc.
Unaudited Interim Financial Statements
As at February 28, 2022
NOTICE OF DISCLOSURE OF NON-AUDITOR REVIEW OF INTERIM FINANCIAL STATEMENTS
Under National Instrument 51-102, Part 4, subsection 4.3(3)(a), if an auditor has not performed a review of the interim financial statements, they must be accompanied by a notice indicating that the financial statements have not been reviewed by an auditor.
The accompanying unaudited interim financial statements of the Company have been prepared by and are the responsibility of the Company's management.
The Company's independent auditor has not performed a review of these financial statements in accordance with standards established by the Canadian Institute of Chartered Accountants for a review of interim financial statements by an entity's auditor.
Consolidated Statements of Financial Position
ASSETS Current
Cash and cash equivalents
Guaranteed investment certificates (0.10% - 0.49%; 0.55% in 2020), expiring between May and July 2022
Accounts receivable
Sales taxes receivable Tax credits receivable Prepaid expenses
Marketable securities in quoted mining exploration companies
Non-current
Property and equipment Right-of-use assets
Advances on exploration and evaluation assets Exploration and evaluation assets
Notes
February 28, 2022 (Unaudited)
August 31, 2021 (Audited)
$
$
5
1,239,667 1,235,956
2,077,323 2,577,287
777
61,479
2,184
77,233
890
- 101,840 - 18,034 971
3,459,553 3,934,088
14,139 18,658
6 7
62,979 78,919
- 50,000
17,022,980 17,100,098
15,152,947 15,300,524
Total assetsLIABILITIES Current
Trade and other payables
Liability related to flow-through shares Current portion of lease obligations
Non-current
Lease obligations Loan
Total liabilities
EQUITY
Share capital Contributed surplus
Deficit Total equityTotal liabilities and equity
The accompanying notes are an integral part of these interim consolidated financial statements.
These interim consolidated financial statements were approved and authorized for issue by the Board of Directors on April 27, 2022.
Approved on behalf of the Board of Directors
(signed) Yves Rougerie, Director
20,559,651
19,234,612
263,589 178,322
- 122,557
8
35,752 36,057
299,341 336,936
8 9
27,351 40,599
40,000 40,000
67,351 80,599
366,692 417,535
10.1
55,518,276 53,521,536
5,142,073 4,755,693
(40,467,390)
20,192,959 20,559,651
- 3 -
(signed) Victor Cantore, Director
(39,460,152)
18,817,077 19,234,612
Consolidated Statements of Net Loss and Comprehensive Loss
Three-month period ended
Notes
February 28, 2022 $
Expenses
Employee benefits expense Insurance, taxes and permits Consulting fees Professional fees Rent and maintenance Business development Stationery and office expenses Travel, board and lodging Registration fees
Write-off of exploration and evaluation assets
Exploration costs of other properties (1) Bank charges
Part III.14 tax
Part XII.6 tax related to flow-through shares Amortization of property and equipment Amortization of right-of-use assets
Operating loss
Other (income) expenses
Finance income Finance cost Government assistance
Net change in fair value of marketable securities in quoted mining exploration Other revenues
Loss before income taxes
Deferred income tax
Net loss and total of comprehensive loss for the period
Loss per share
Basic and diluted net loss per share
12.1
February 28, 2021 $
670,951
9,029
104,914
43,252
6,240
57,449
8,381
774
26,662
- - 651 - 2,609 991 652
932,555
14 14 9-11
126,452
4,864
-
36,629
-
23,121
3,390
210
11,201
(7,565)
25,966
604
(47,050)
-
453
7,837
186,112
(676)
45
-
251
(2,028)
(2,408)
(930,147)
43,802
(886,345)
15
(70) 486 -
(269) (1,950) (1,803)
Six-month period endedFebruary 28, 2022 $
February 28, 2021 $
738,013 249,061
17,227 9,226
149,914 79,552 12,480
- 66,214 -
80,616 26,423
13,316 6,071
4,637 695
30,847 15,207
350 (2,065)
149 25,966
1,477 1,561
- 2,609 1,981 1,969
(47,050)
- 907 15,674
1,135,137 367,890
(1,650) (141)
283 1,024
-
(10,000)
81
(518)
(4,056) (3,900)
(5,343) (13,535)
(184,309) (1,129,795) (354,355)
12,913
(171,396)
0.00
122,557
(1,007,238)
(0.00)
21,943
(332,412)
(0.00)
(0.00)
(1) For the three and six-month periods ended February 28, 2022 and 2021, no amount was recorded for tax credits as a reduction of exploration costs of other properties.
The accompanying notes are an integral part of these consolidated financial statements.
- 4 -
Vision Lithium Inc.
Issuance of flow-through units and shares 10.1
Issuance of units 10.1
Shares issue costs 10.1
Share-based payments 12.2
Net loss and total of comprehensive loss for the period
400,000 79,400,000 - - 79,800,000
14,000 841,640 - - 855,640
- 746,360 - 28,750 775,110
- - (135,042)
- (135,042)
14,000
1,588,000
(135,042)
28,750
1,495,708
-
-
-
(332,412)
(332,412)
Balance as at February 28, 2021
181,054,986
48,859,275
4,137,879
(38,554,071)
14,443,083
Issuance of flow-through units and shares 10.1
Issuance of units 10.1
Issuance of shares for the acquisition of mining 10.1 rights
Shares issue costs 10.1
Warrants exercised 10.2
Net loss and total of comprehensive loss for the period
15,097,499 1,675,000 4,000,000
- 7,975,000 28,747,499
2,944,013 204,533 1,040,000
- 473,715 4,662,261
377,437 96,967 - 218,375 (74,965) 617,814
- - -
(545,934)
- (545,934)
3,321,450 301,500 1,040,000
(327,559) 398,750 4,734,141
-
-
-
(360,147)
(360,147)
Balance as at August 31, 2021
209,802,485
53,521,536
4,755,693
(39,460,152)
18,817,077
Issuance of shares for the acquisition of mining 12.1 rights
Share-based payments 14.2
Warrants exercised 10.2
Net loss and total of comprehensive loss for the period
4,550,000 - 17,100,000 21,650,000
981,000 - 1,015,740 1,996,740
- - 981,000
547,120 - 547,120
(160,740) - 855,000
386,380
-
2,383,120
-
-
-
(1,007,238)
(1,007,238)
Balance as at February 28, 2022
231,452,485
55,518,276
The accompanying notes are an integral part of these interim consolidated financial statements.
5,142,073
(40,467,390)
20,192,959
-5 -
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Vision Lithium Inc. published this content on 27 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2022 15:44:07 UTC.