6 unchanged sentences
CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
−Removed: PERIOD ENDED APRIL 30, 2022
+Added: PERIOD ENDED OCTOBER 31, 2022
INDEX TO CONSOLIDATED FINANCIAL STATEMENTS:
8 unchanged sentences
(Expressed in United States Dollars)
−Removed: April 30, 2022
+Added: October 31, 2022
July 31, 2022
11 unchanged sentences
Stockholders' equity
−Removed: Capital stock, $ 0.001 par value, 400,000,000 shares authorized (July 31, 2021 - 400,000,000 ) ;
−Removed: 32,787,798 (July 31, 2021 - 26,770,298 shares issued and outstanding (Note 10)
+Added: Capital stock, $ 0.001 par value, 400,000,000 shares authorized;
+Added: 32,787,798 shares issued and outstanding (Note 10)
Additional paid-in capital (Note 10)
9 unchanged sentences
(Expressed in United States Dollars)
+Added: FOR THE THREE MONTHS ENDED OCTOBER 31,
Accretion expense (Note 8)
1 unchanged sentence
Filing and regulatory
−Removed: Foreign exchange (gain) loss
+Added: Foreign exchange loss
General and administrative
3 unchanged sentences
Promotion and shareholder communication
−Removed: Share-based compensation (Note 10)
Gain on fair value adjustment on derivative liability (Note 9)
7 unchanged sentences
(Expressed in United States Dollars)
−Removed: FOR THE NINE MONTHS ENDED APRIL 30,
+Added: FOR THE THREE MONTHS ENDED OCTOBER 31,
CASH FLOWS FROM OPERATING ACTIVITIES
2 unchanged sentences
Interest expense
−Removed: Share-based payment
Accretion expense
−Removed: Loss on fair value adjustment on derivative liability
+Added: Gain on fair value adjustment on derivative liability
Non-cash working capital item changes:
3 unchanged sentences
Net cash used in operating activities
−Removed: CASH FLOWS FROM FINANCING ACTIVITIES
−Removed: Private placement, net of issuance cost (Note 10)
−Removed: Net cash provided by financing activities
Change in cash for the period
8 unchanged sentences
Capital Stock
−Removed: Additional Paid-in
+Added: Additional Paid-
Balance as at July 31, 2021
−Removed: Shares issued for cash, net of issuance costs
−Removed: Share-based compensation
Loss for the period
Balance as at October 31, 2021
−Removed: Income for the period
−Removed: Balance as at January 31, 2021
−Removed: Loss for the period
−Removed: Balance as at April 30, 2021
Balance as at July 31, 2022
1 unchanged sentence
Balance as at October 31, 2022
−Removed: Shares issued for cash, net of issuance cost
−Removed: Loss for the period
−Removed: Balance as at January 31, 2022
−Removed: Share-based compensation
−Removed: Loss for the period
−Removed: Balance as at April 30, 2022
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
1 unchanged sentence
(An Exploration Stage Company)
−Removed: NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
−Removed: FOR THE NINE-MONTH PERIOD ENDED APRIL 30, 2022
+Added: NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE-MONTH PERIOD ENDED OCTOBER 31, 2022
(Expressed in United States Dollars)
12 unchanged sentences
The accompanying condensed consolidated interim financial statements have been prepared on the going concern basis, which presumes that the Company will continue operations for the foreseeable future and will be able to realize assets and discharge liabilities in the normal course of business.
−Removed: The Company has incurred a loss of $ 2,256,190 for the nine-month period ended April 30, 2022 and has accumulated a deficit of $ 21,800,667 .
+Added: The Company has incurred a loss of $ 684,538 for the three-month period ended October 31, 2022 and has accumulated a deficit of $ 23,693,142 .
The ability of the Company to continue as a going concern is dependent on the Company's ability to maintain continued support from its shareholders and creditors and to raise additional capital and implement its business plan.
There is no assurance that the Company will be able to obtain adequate financing in the future or that such financing will be on terms advantageous to the Company.
−Removed: However, the Company has been able to obtain such financings in the past and recently closed a financing for net proceeds of $ 2,392,998 on January 31, 2022.
−Removed: As such, management believes there are sufficient funds to fund operations for the next twelve months.
+Added: These events and conditions cast significant doubt about the Company's ability to continue as a going concern.
The consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.
−Removed: As at April 30, 2022, the Company had working capital of $ 1,547,021 (July 31, 2021 - $ 956,524 ).
−Removed: Furthermore, the novel coronavirus outbreak ("COVID-19") was declared a pandemic by the World Health Organization in 2020.
+Added: In March 2020, the novel coronavirus outbreak ("COVID-19") was declared a pandemic by the World Health Organization.
The situation is dynamic and the ultimate duration and magnitude of the impact on the economy and the Company's business are not known at this time.
These impacts could include an impact on the Company's ability to obtain debt and equity financing to fund ongoing exploration activities as well as its ability to explore and conduct business.
−Removed: These condensed consolidated financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern.
+Added: These consolidated financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern.
+Added: At October 31, 2022, the Company had working capital of $ 66,526 (July 31, 2022 - $ 636,617 ).
BASIS OF PREPARATION
Generally Accepted Accounting Principles
−Removed: The accompanying unaudited condensed consolidated interim financial statements have been prepared in conformity with generally accepted accounting principles of the United States of America ("US GAAP") and the rules and regulations of the Securities and Exchange Commission ("SEC") for financial information with the instructions to Form 10-Q and Regulation S-K.
+Added: These unaudited condensed consolidated interim financial statements have been prepared in conformity with generally accepted accounting principles of the United States of America ("US GAAP") and the rules and regulations of the Securities and Exchange Commission ("SEC") for financial information with the instructions to Form 10-Q and Regulation S-K.
Results are not necessarily indicative of results which may be achieved in the future.
1 unchanged sentence
Certain information and footnote disclosures normally included in the financial statements prepared in accordance with US GAAP have been condensed or omitted pursuant to such SEC rules and regulations.
−Removed: The operating results for the nine months ended April 30, 2022 are not necessarily indicative of the results that may be expected for the fiscal year ended July 31, 2022.
+Added: The operating results for the three months ended October 31, 2022 are not necessarily indicative of the results that may be expected for the year ended July 31, 2023.
RISE GOLD CORP.
(An Exploration Stage Company)
−Removed: NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
−Removed: FOR THE NINE-MONTH PERIOD ENDED APRIL 30, 2022
+Added: NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE-MONTH PERIOD ENDED OCTOBER 31, 2022
(Expressed in United States Dollars)
10 unchanged sentences
The preparation of these financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period.
−Removed: Significant areas requiring the use of estimates include the carrying value and recoverability of mineral properties, fair value estimates for derivatives, assumptions supporting share-based compensation, fair value of share purchase warrants and the recognition of deferred tax assets based on the change in unrecognized deductible temporary tax differences.
+Added: Significant areas requiring the use of estimates include the carrying value and recoverability of mineral properties and the recognition of deferred tax assets based on the change in unrecognized deductible temporary tax differences.
Actual results could differ from those estimates and would impact future results of operations and cash flows.
PREPAID EXPENSES
−Removed: April 30, 2022
+Added: October 31, 2022
July 31, 2022
1 unchanged sentence
(An Exploration Stage Company)
−Removed: NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
−Removed: FOR THE NINE-MONTH PERIOD ENDED APRIL 30, 2022
+Added: NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE-MONTH PERIOD ENDED OCTOBER 31, 2022
(Expressed in United States Dollars)
2 unchanged sentences
Idaho-Maryland ,
−Removed: July 31, 2021 and April 30, 2022
+Added: July 31, 2022 and October 31, 2022
Title to mineral properties
2 unchanged sentences
The Company received a title opinion on the mineral rights of the Idaho-Maryland Mine property which concludes that ownership belongs to Rise Grass Valley Inc.
−Removed: As at April 30, 2022, the Company holds title to the Idaho-Maryland Gold Mine Property.
−Removed: As of April 30, 2022, 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 at October 31, 2022, the Company holds title to the Idaho-Maryland Gold Mine Property.
+Added: As of October 31, 2022, 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.
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.
8 unchanged sentences
the commission was settled on January 25, 2017 through the issuance of 92,000 units valued at C$ 2.00 per unit.
−Removed: Each unit consisted of one share of common stock and one transferable share purchase warrant exercisable into one share of common stock at a price of C$ 4.00 for a period of two years from the date of issuance.
+Added: Each unit consists of one share of common stock and one transferable share purchase warrant exercisable into one share of common stock at a price of C$ 4.00 for a period of two years from the date of issuance.
On January 24, 2019, these warrants expired unexercised.
2 unchanged sentences
(An Exploration Stage Company)
−Removed: NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
−Removed: FOR THE NINE-MONTH PERIOD ENDED APRIL 30, 2022
+Added: NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE-MONTH PERIOD ENDED OCTOBER 31, 2022
(Expressed in United States Dollars)
8 unchanged sentences
On May 14, 2018, the Company completed the purchase of the surface rights totalling approximately 82 acres by making the final payment of $ 1,300,000 .
−Removed: As at April 30, 2022, the Company has incurred cumulative exploration expenditures of $ 7,507,353 on the Idaho-Maryland Gold Mine property as follows:
−Removed: Nine months ended
−Removed: April 30, 2022
+Added: As at October 31, 2022, the Company has incurred cumulative exploration expenditures of $ 8,082,335 on the Idaho-Maryland Gold Mine property as follows:
+Added: Three months ended
+Added: October 31, 2022
July 31, 2022
5 unchanged sentences
(An Exploration Stage Company)
−Removed: NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
−Removed: FOR THE NINE-MONTH PERIOD ENDED APRIL 30, 2022
+Added: NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE-MONTH PERIOD ENDED OCTOBER 31, 2022
(Expressed in United States Dollars)
2 unchanged sentences
At July 31, 2022
−Removed: At April 30, 2022
+Added: At October 31, 2022
Accumulated depreciation
1 unchanged sentence
At July 31, 2022
−Removed: At April 30, 2022
+Added: At October 31, 2022
Total carrying value, July 31, 2022
−Removed: Total carrying value, April 30, 2022
+Added: Total carrying value, October 31, 2022
During the year ended July 31, 2014, the Company entered into a binding letter of intent ("LOI") with Wundr Software Inc.
9 unchanged sentences
b) Director fees of $ 20,000 (2021 - $ 20,000 ) to directors of the Company.
−Removed: c) During the period ended April 30, 2022, the Company paid $ 105,535 (2021 - $ 104,740 ) in professional and consulting fees to a company controlled by a director of the Company.
−Removed: d) Share-based compensation of $ 406,790 (2021 - $ 560,792 ) for options granted during the period ended April 30, 2022.
−Removed: e) As at April 30, 2022 and July 31, 2021, $ 20,262 and $ 34,010 were owed to related parties, respectively.
+Added: c) During the period ended October 31, 2022, the Company paid $ 33,833 (2021 - $ 35,797 ) in professional and consulting fees to a company controlled by a director of the Company.
+Added: d) Share-based compensation of $ Nil (2021 - $ Nil ) for options granted during the period ended October 31, 2022.
+Added: e) As at October 31, 2022 and July 31, 2022, $ 51,701 and $ 28,018 were owed to related parties, respectively.
RISE GOLD CORP.
(An Exploration Stage Company)
−Removed: NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
−Removed: FOR THE NINE-MONTH PERIOD ENDED APRIL 30, 2022
+Added: NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE-MONTH PERIOD ENDED OCTOBER 31, 2022
(Expressed in United States Dollars)
14 unchanged sentences
Accretion expense
−Removed: Balance, April 30, 2022
+Added: Balance, October 31, 2022
RISE GOLD CORP.
(An Exploration Stage Company)
−Removed: NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
−Removed: FOR THE NINE-MONTH PERIOD ENDED APRIL 30, 2022
+Added: NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE-MONTH PERIOD ENDED OCTOBER 31, 2022
(Expressed in United States Dollars)
12 unchanged sentences
Fair value adjustment
−Removed: Balance, April 30, 2022
−Removed: For the nine-month period ended April 30, 2022, the Company recorded a total gain on fair value of derivative liability of $ 252,324 during the period (April 30, 2021 -$ 1,560,945 ).
−Removed: The following weighted average assumptions were used for the Black-Scholes pricing model valuation of warrants as at April 30, 2022 and July 31, 2021:
−Removed: April 30, 2022
+Added: Balance, October 31, 2022
+Added: For the three-month period ended October 31, 2022, the Company recorded a total gain on fair value of derivative liability of $ 17,984 during the period (October 31, 2021 -$ 337,093 ).
+Added: The following weighted average assumptions were used for the Black-Scholes pricing model valuation of warrants as at October 31, 2022 and July 31, 2022:
+Added: October 31, 2022
July 31, 2022
9 unchanged sentences
(An Exploration Stage Company)
−Removed: NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
−Removed: FOR THE NINE-MONTH PERIOD ENDED APRIL 30, 2022
+Added: NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE-MONTH PERIOD ENDED OCTOBER 31, 2022
(Expressed in United States Dollars)
2 unchanged sentences
On January 31, 2022, the Company completed a non-brokered private placement for gross proceeds totalling $ 2,407,000 through the issuance of 6,017,500 units at a price of $ 0.40 per Unit, where each Unit consists of one share of common stock and one share purchase warrant.
−Removed: Each whole warrant entitles the holder to acquire one additional common share at an exercise price of $ 0.60 until January 28, 2024 .
+Added: Each warrant entitles the holder to acquire one additional common share at an exercise price of $ 0.60 until January 28, 2024 .
Certain directors of the Company purchased an aggregate of 2,075,000 Units of this private placement for gross proceeds of $ 830,000 .
The Company has paid associated legal fees of $ 14,002 in connection with this financing.
−Removed: On September 23, 2020, the Company completed a non-brokered private placement for a total of $ 250,000 through the issuance of 333,333 units at a price of $ 0.75 per Unit (C$ 1.02 per Unit), with each Unit comprising one share of common stock and one-half of one common share purchase warrant.
−Removed: Each whole warrant entitles the holder to acquire one share at an exercise price of $ 1 .00 (C$ 1.36 ) until September 21, 2022 .
−Removed: The Company paid associated legal fees of $ 1,802 in connection with this financing.
Stock Options
−Removed: The Company has a stock option plan under which it is authorized to grant options to executive officers and directors, employees and consultants enabling them to acquire up to 10 % of the issued and outstanding common stock of the Company.
−Removed: Under the plan the exercise price of each option equals the market price of the Company's stock, less any applicable discount, as calculated on the date of grant.
−Removed: The options can be granted for a maximum term of 5 years with vesting determined by the board of directors.
−Removed: During the period ended April 30, 2022, the Company granted a total of 805,000 stock options with a fair value of $ 406,790 (2021:
−Removed: $ 560,792 ) to employees, officers, directors, and consultants of the Company, exercisable at a weighted average price of $ 0.65 (C$ 0.82 ) per share for a period of five years .
−Removed: On September 22, 2020, the Company granted a total of 1,338,500 stock options to the Company's President and CEO, Benjamin Mossman.
−Removed: The stock options are exercisable at a price of $ 0.90 (C$ 1.20 ) per share until September 22, 2025.
−Removed: The Company recorded share-based compensation of $ 560,792 in connection with this grant.
−Removed: The following incentive stock options were outstanding and exercisable as at April 30, 2022:
−Removed: Average Exercise
+Added: On February 7, 2022, the Company granted a total of 805,000 stock options with a fair value of $ 406,790 to employees, officers, directors, and consultants of the Company, exercisable at a weighted average price of $ 0.65 (C$ 0.82 ) per share for a period of five years.
+Added: The following incentive stock options were outstanding and exercisable as at October 31, 2022:
March 17, 2023
4 unchanged sentences
February 7, 2027
−Removed: As at April 30, 2022, the aggregate intrinsic value of the Company's stock options is $ 6,000 (July 31, 2021 - $ 1,313 ).
−Removed: RISE GOLD CORP.
−Removed: (An Exploration Stage Company)
−Removed: NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
−Removed: FOR THE NINE-MONTH PERIOD ENDED APRIL 30, 2022
−Removed: (Expressed in United States Dollars)
−Removed: CAPITAL STOCK AND ADDITIONAL PAID-IN-CAPITAL (continued)
−Removed: Stock Options (continued)
+Added: As at October 31, 2022, the aggregate intrinsic value of the Company's stock options is $ Nil (July 31, 2022 - $ Nil ).
Stock option transactions are summarized as follows:
+Added: Number of Options
Weighted Average
2 unchanged sentences
Options granted
−Removed: Options expired
Balance outstanding and exercisable, July 31, 2022
−Removed: Options granted
−Removed: Balance outstanding and exercisable, April 30, 2022
−Removed: The following warrants were outstanding at April 30, 2022:
+Added: Balance outstanding and exercisable, October 31, 2022
+Added: RISE GOLD CORP.
+Added: (An Exploration Stage Company)
+Added: NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE-MONTH PERIOD ENDED OCTOBER 31, 2022
+Added: (Expressed in United States Dollars)
+Added: CAPITAL STOCK AND ADDITIONAL PAID-IN-CAPITAL (continued)
+Added: The following weighted average assumptions were used for the Black-Scholes pricing model valuation of stock options issued during the period ended October 31, 2022 and July 31, 2022:
+Added: October 31, 2022
+Added: July 31, 2022
+Added: Risk-free interest rate
+Added: Expected life of stock options
+Added: Expected annualized volatility
+Added: Forfeiture rate
+Added: Share-Based Payments
+Added: The Company has a stock option plan under which it is authorized to grant options to executive officers and directors, employees and consultants enabling them to acquire up to 10 % of the issued and outstanding common stock of the Company.
+Added: Under the plan the exercise price of each option equals the market price of the Company's stock, less any applicable discount, as calculated on the date of grant.
+Added: The options can be granted for a maximum term of 5 years with vesting determined by the board of directors.
+Added: On June 14, 2022, the Company amended the term of 6,308,310 common share purchase warrants by extending their expiry dates by two years and adding an accelerated expiry provision.
+Added: Between July 3, 2019 and September 21, 2020 the Corporation issued a total of 6,308,310 warrants to purchase shares of common stock of the Corporation in connection with various private placement financings and debt financings.
+Added: 3,959,727 of these Warrants were granted with an exercise price of CAD $ 1.00 per share ("CAD Priced Warrants") with expiry dates ranging from July 3, 2022 to September 9, 2022, and 2,348,583 of these warrants were granted with an exercise price of US$ 1.00 per share ("USD Priced Warrants") with expiry dates ranging from July 31, 2022 to September 21, 2022.
+Added: All other terms and conditions of the Warrants remain unchanged.
+Added: The following warrants were outstanding at October 31, 2022:
August 19, 2024
3 unchanged sentences
January 28, 2024
−Removed: During the period ended April 30, 2022, a total of 488,438 warrants with an exercise price of C$ 1.20 expired unexercised.
RISE GOLD CORP.
(An Exploration Stage Company)
−Removed: NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
−Removed: FOR THE NINE-MONTH PERIOD ENDED APRIL 30, 2022
+Added: NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE-MONTH PERIOD ENDED OCTOBER 31, 2022
(Expressed in United States Dollars)
CAPITAL STOCK AND ADDITIONAL PAID-IN-CAPITAL (continued)
−Removed: Warrants (continued)
Warrant transactions are summarized as follows:
1 unchanged sentence
Weighted Average
−Removed: Exercise Price (C$)
−Removed: Balance, July 31, 2019
−Removed: Warrants issued
−Removed: Warrants expired
+Added: Exercise Price
Balance, July 31, 2021
4 unchanged sentences
Warrants expired
−Removed: Balance, April 30, 2022
+Added: Balance, October 31, 2022
SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS
−Removed: During the nine-month periods ended April 30, 2022 and 2021, the Company had the following non-cash financing and investing activities:
−Removed: For the period ended April 30, 2022:
−Removed: a) The Company recorded $ 85,943 of accretion and $ 194,952 of interest expense as part of the outstanding balance of loan payable.
−Removed: For the period ended April 30, 2021:
−Removed: b) Company recorded $ 85,944 of accretion and $ 88,226 of interest expense as part of the outstanding balance of loan payable.
+Added: During the three-month periods ended October 31, 2022 and 2021, the Company had the following non-cash financing and investing activities:
+Added: For the period ended October 31, 2022:
+Added: a) The Company accrued $ 97,815 of interest expense as part of the outstanding balance of loan payable.
+Added: For the period ended October 31, 2021:
+Added: b) Company accrued $ 32,123 of interest expense as part of the outstanding balance of loan payable.
SEGMENTED INFORMATION
5 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.