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SUBSEQUENT EVENTS (Tables)
 6 Months Ended
Jun. 30, 2022
SCHEDULE OF NUMBER AND EXERCISE PRICE OF OUTSTANDING SHARE OPTIONS AND WARRANTS
# of share outstanding     113,905,949         
Shores in escrow 1     (32,670,896 )      
                
Options:     # of options     Exercise price  
24-Feb-2025       1,160,000     $ 0.80  
19-Aug-2025       240,000     $ 0.45  
25-Feb-2026       597,000     $ 1.60  
25-Oct-2026       998,794     $ 2.00  
26-Jan-2026       4,743,000     $ 0.39  
29-Sep-2026       1,343,850     $ 0.91  
20-Jan-2027       2,740,400     $ 2.11  
        11,823,044          
Options in escrow 1       (3,847,100 )        
                   
Warrants:                  
13-Aug-2022 2       1,088,783     $ 0.45  
31-Aug-2022       150,000     $ 0.45  
16-Apr-2023       693,905     $ 1.75  
03-Aug-2024     295,652     $ 2.40  
        2,228,340          
                   
Prefer shares 118,186     13,131        
(conversion ratio 9:1)                  
                   
Fully diluted # of shares       127,970,464         

 

Note 1: Certain directors, officers and seed share shareholders of the Company are subject to escrow requirements pursuant to the Policy 5.4 - Escrow, Vendor Considerations and Resale Restrictions of the TSX Venture Exchange (“Exchange Policy 5.4”).

 

Note 2: Subsequently, 1,076,408 of warrants were exercised and 12,375 expired.
SCHEDULE OF SELECTED FINANCIAL INFORMATION

 

  

NAN

(as at March 31, 2022)

(‘$000)

  

PNR

(as at March 31, 2022)

(‘$000)

  

Pro
Forma Adjustments(1)(2)

(‘$000)

  

Resulting Issuer Pro Forma Consolidation

(‘$000)

 
   Select Financial Information 
  

NAN

(as at March 31, 2022)

(‘$000)

  

PNR

(as at March 31, 2022)

(‘$000)

  

Pro
Forma Adjustments(1)(2)

(‘$000)

  

Resulting Issuer Pro Forma Consolidation

(‘$000)

 
Current Assets   2,595    6,300    14,566    23,461 
Total Assets   41,970    21,187    67,722    130,879 
Current Liabilities   777    5,824(1)   (3,055)   3,546 
Total Liabilities   777    34,662    (31,742)   3,697 
Shareholders’ Equity   41,193    (13,476)   99,465    127,182 
Net Loss   390    23,649    (19,847)   4,192(3)

 

Note:

 

(1)Includes US$1.35 million of success fees payable to CIBC World Markets Inc. in connection with the Selebi acquisition, of which US$1 million was paid in May 2022, with the balance of US$350,000 to be due upon the next financing by the Company.

 

(2)The pro forma adjustments include, among other things, the adjustments for the subscription receipt financing of the Company which was completed on April 28, 2022, an advisory fee of $420,000, which will be payable to INFOR Financial Inc. upon the closing of the RTO and certain non-recurring due diligence and transaction costs in respect of the Selebi and Selkirk acquisitions and the RTO.