8 unchanged sentences
The subsidiary was incorporated entirely for the purpose of effecting the name change and the merger did not affect our Articles of Incorporation or corporate structure in any other way.
−Removed: On January 22, 2015, we completed a 1 for 80 reverse split of our common stock and effected a corresponding decrease in our authorized capital by filing a Certificate of Change with the Nevada Secretary of State (the “Reverse Split”).
+Added: On January 22, 2015, we completed a 1 for 80 reverse split of our common stock and effected a corresponding decrease in our authorized capital by filing a Certificate of Change with the Nevada Secretary of State.
As a result of the reverse split, our authorized capital decreased from 1,680,000,000 shares to 21,000,000 and our issued and outstanding common stock decreased from 63,400,000 shares to 792,518, with each fractional share being rounded up to the nearest whole share.
1 unchanged sentence
On April 9, 2015, we increased our authorized capital from 21,000,000 to 400,000,000 shares of common stock.
−Removed: On December 16, 2019, as a result of a 1 to 10 reverse split, authorized capital was reduced to 40,000,000.
+Added: On December 16, 2019, as a result of a 1 for 10 reverse split, authorized capital was reduced to 40,000,000.
On September 18, 2020, the shareholders approved an increase to authorize capital to 400,000,000 shares.
13 unchanged sentences
Developments in our Company's business during the July 31, 2021 fiscal year covered by this report include the following:
−Removed: On July 3, 2019, the Company completed the first tranche of a non-brokered private placement.
−Removed: The Company raised a total of $552,000 (C$725,769) through the sale of 1,036,813 units at a price of $0.50 (C$0.70) per unit where each unit consists of one share of common stock and one-half of one share purchase warrant.
−Removed: Each whole warrant entitles the holder to acquire one additional share at an exercise price of $0.80 (C$1.00) until July 3, 2022.
On August 19, 2019, the Company completed the second tranche of a non-brokered private placement for a total of $2,412,281 (C$3,207,850) through the sale of 4,582,644 units at a price of $0.53 (C$0.70) per unit where each unit consists of one share of common stock and one-half of one share purchase warrant.
10 unchanged sentences
The Lender received 1,150,000 bonus share purchase warrants as additional consideration for advancing the Loan.
−Removed: The fair value of these warrants was calculated to be
−Removed: $444,942 which was netted against the loan payable balance along with $15,000 paid to the lender for a total of $459,942 in other issuance costs.
+Added: The fair value of these warrants was calculated to be $444,942 which was netted against the loan payable balance along with $15,000 paid to the lender for a total of $459,942 in other issuance costs.
Each warrant entitles the holder to acquire one share of common stock at an exercise price of $0.80 (C$1.00) for a period of three years from the date of issuance.
16 unchanged sentences
The stock options are exercisable at a price of $0.90 (C$1.20) per share with an expiry date of September 22, 2025.
+Added: As of July 31, 2021, based on management's review of the carrying value of mineral rights, management determined that there is no evidence that the cost of these acquired mineral rights will not be fully recovered and accordingly, the Company determined that no adjustment to the carrying value of mineral rights was required.
+Added: As of the date of these consolidated financial statements, the Company has not established any proven or probable reserves on its mineral properties and has incurred only acquisition and exploration costs.
Plan of Operations
1 unchanged sentence
Our plan of operations for the next 12 months is to continue the Use Permit process in Nevada County California, to re-open the Idaho-Maryland gold mine at the I-M Mine Property.
−Removed: The Company submitted the application for a Use Permit to Nevada County on November 21 st 2019.
+Added: The Company submitted the application for a Use Permit to Nevada County on November 21, 2019.
On April 28th, 2020, with a vote of 5-0, the Nevada County ("County") Board of Supervisors approved the contract for Raney Planning & Management Inc.
("Raney") to prepare the Environmental Impact Report ("EIR") and conduct contract planning services on behalf of the County for the proposed Idaho-Maryland Mine Project.
−Removed: Raney will begin work immediately to review the technical studies submitted by Rise with the Use Permit application and initiate preparation of the Draft Environmental Impact Report (“Draft EIR”).
+Added: Raney has been working since that time on review of the technical studies submitted by Rise with the Use Permit application and preparing the Draft Environmental Impact Report ("Draft EIR").
A general outline of remaining milestones in the process to approval of the permit is outlined as follows;
−Removed: 1) County planning staff and Raney prepare a Draft EIR which includes holding a public scoping meeting and public comments on which issues should be covered by the EIR;
+Added: 1) County planning staff and Raney prepare a Draft EIR
2) Draft EIR is published for public comment;
3) Raney publishes a Final EIR which includes responses to public comments on the Draft EIR;
−Removed: 4) County decisionmakers review the Final EIR, certify the environmental document and consider approval of the Use Permit and Reclamation Plan at a public hearing.
−Removed: The Company’s original estimate of the remaining timeline to approval ranges from December 2020 to May 2021.
+Added: 4) County decision makers review the Final EIR, certify the environmental document and consider approval of the Use Permit and Reclamation Plan at a public hearing.
+Added: The Company's estimate of the remaining timeline to approval is approximately early 2022.
Ancillary construction and operational permits would follow as needed.
5 unchanged sentences
Processing equipment and operations would be fully enclosed in attractive modern buildings and numerous mature trees located on the perimeter of the Brunswick site would be retained to provide visual shielding of aboveground project facilities and operations.
−Removed: The Company would produce barren rock from underground tunneling and sand tailings as part of the project which would be used for creation of approximately 58 acres of level and useable industrial zoned land for future economic development in Nevada County.
+Added: The Company would produce barren rock from underground tunnelling and sand tailings as part of the project which would be used for creation of approximately 58 acres of level and useable industrial zoned land for future economic development in Nevada County.
A water treatment plant and pond, using conventional processes, would ensure that groundwater pumped from the mine is treated to regulatory standards before being discharged to the local waterways.
1 unchanged sentence
Approximately 300 employees would be required if the mine reaches full production.
−Removed: We currently have two full-time employees, which includes our Chief Executive Officer.
+Added: The Company has one full-time employee, which is the Chief Executive Officer.
Our other officers and directors provide services to us on an as-needed basis, and we plan to rely on their efforts, as well as those of a number of independent consultants, to manage our operations for the foreseeable future.
10 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.