17 unchanged sentences
In the past, we have held several other potential mineral properties in British Columbia, Canada, which have been written off based on the strength of the I-M Mine Project.
+Added: As of January 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.
On January 14, 2015, we completed a merger with our wholly owned subsidiary, Rise Resources Inc., and formally assumed the subsidiary’s name by filing Articles of Merger with the Nevada Secretary of State.
5 unchanged sentences
On March 29, 2017, we completed another merger with our wholly owned subsidiary, Rise Gold Corp., and formally assumed the subsidiary’s name by filing Articles of Merger with the Nevada Secretary of State.
−Removed: 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.
+Added: The subsidiary was incorporated
+Added: 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.
We currently have one wholly owned subsidiary, Rise Grass Valley, Inc., which holds certain of our interests and assets located in the United States, and in particular, our interest in the I-M Mine Property.
6 unchanged sentences
Business Development
−Removed: Developments in our Company’s business during the July 31, 2020 fiscal year and the three month period ended October 31, 2020 include the following:
+Added: Developments in our Company’s business during the July 31, 2020 fiscal year and the six-month period ended January 31, 2021 include the following:
On July 3, 2019, the Company completed the first tranche of a non-brokered private placement.
20 unchanged sentences
Each whole warrant entitles the holder to acquire one Share at an exercise price of $1.00 until July 31, 2022.
−Removed: The Company paid a total of $32,576 in finders fees and issued a total of 43,435 finders warrants, where each finder’s warrant entitles the holder to acquire one Share at a price of $1.00 until July 31, 2022.
−Removed: To accommodate the lack of authorized capital to facilitate the closing
−Removed: of the private placement, the Company’s President and CEO surrendered 1,097,298 stock options priced between C$0.70 and C$2.40 per share.
+Added: The Company paid a total of $32,576 in finders fees and issued a total
+Added: of 43,435 finders warrants, where each finder’s warrant entitles the holder to acquire one Share at a price of $1.00 until July 31, 2022.
+Added: To accommodate the lack of authorized capital to facilitate the closing of the private placement, the Company’s President and CEO surrendered 1,097,298 stock options priced between C$0.70 and C$2.40 per share.
On September 18, 2020, the Company announced an increase of the Company’s authorized capital from 40,000,000 shares of common stock with a par value of $0.001 per share to 400,000,000 shares of common stock with a par value of $0.001 per share.
4 unchanged sentences
Plan of Operations
−Removed: As at October 31, 2020, the Company had a cash balance of $2,854,868, compared to a cash balance of $3,378,826 as of July 31, 2020.
+Added: As at January 31, 2021, the Company had a cash balance of $2,112,768, compared to a cash balance of $3,378,826 as of July 31, 2020.
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.
7 unchanged sentences
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.
+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.
The Company’s estimate of the remaining timeline to approval is approximately May 2021.
19 unchanged sentences
Results of Operations
−Removed: For the Periods Ended October 31, 2020 and 2019
−Removed: The Company’s operating results for the periods ended October 31, 2020 and 2019 are summarized as follows:
+Added: For the Periods Ended January 31, 2021 and 2020
+Added: The Company’s operating results for the periods ended January 31, 2021 and 2020 are summarized as follows:
Liquidity and Capital Resources
Working Capital
−Removed: At October 31, 2020
+Added: At January 31, 2021
At July 31, 2020
3 unchanged sentences
Working Capital
−Removed: For the three month period ended October 31, 2020
−Removed: For the three month period ended October 31, 2019
+Added: For the six-month period ended January 31, 2021
+Added: For the six-month period ended January 31, 2020
Net Cash used in Operating Activities
2 unchanged sentences
Net Increase (decrease) in Cash During the Period
−Removed: As of October 31, 2020, the Company had $2,854,868 in cash, $3,228,489 in current assets, $7,972,689 in total assets, $369,664 in current liabilities and $2,761,500 in non-current liabilities, a working capital of $2,858,825 and an accumulated deficit of $18,965,957.
−Removed: During the three-month period ended October 31, 2020, the Company used $772,156 (2019 - $1,052,603) in net cash on operating activities.
−Removed: The difference in net cash used in operating activities during the two periods was largely due to the increase in the Company’s net loss for the most recent period.
−Removed: The Company had no investing activities during the three-month periods ending October 31, 2020 (October 31, 2019 - $Nil).
−Removed: The Company received net cash of $248,198 (2019 - $3,159,141) from financing activities during the three-month period ended October 31, 2020.
+Added: As of January 31, 2021, the Company had $2,112,768 in cash, $2,506,964 in current assets, $7,244,765 in total assets, $291,682 in current liabilities and $1,743,752 in non-current liabilities, a working capital of $2,215,282 and an accumulated deficit of $18,598,151.
+Added: During the six-month period ended January 31, 2021, the Company used $1,514,256 (2020 - $1,603,191) in net cash on operating activities.
+Added: The difference in net cash used in operating activities during the two periods was largely due to the lower net loss for the most recent period as a result of the revaluation adjustment of the derivative liability.
+Added: The Company had no investing activities during the six-month periods ending January 31, 2021 (January 31, 2020 - $Nil).
+Added: The Company received net cash of $248,198 (2020 - $3,015,604) from financing activities during the six-month period ended January 31, 2021.
The Company expects to operate at a loss for at least the next 12 months.
17 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.