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Note 18 - Share Capital

12 Months Ended

Dec. 31, 2024

Statement Line Items [Line Items]

Disclosure of share capital, reserves and other equity interest [text block]

Note 18: Share capital

(a)

Authorized

Unlimited common shares without par value.

Unlimited preferred shares – nil issued and outstanding.

(b)

Share issuances

During the year ended December 31, 2024:

During June 2024, the Company issued 5,320,000 flow-through shares for gross proceeds of $5,001 ( “June 2024 Offering”). Share issue costs related to the June 2024 Offering totaled $533, which included $300 in commissions and $233 in other issuance costs. A reconciliation of the impact of the June 2024 Offering on share capital is as follows:

	Number of common shares		Impact on share capital
Flow-through shares issued at $0.94 per share		5,320,000	$	5,001
Cash share issue costs		-		(533	)
Proceeds net of share issue costs		5,320,000		4,468
Less: flow-through share premium liability (note 13)		-		(2,022	)
Total allocated to share capital		5,320,000	$	2,446

During the year ended December 31, 2023:

The Company closed the “March 2023 Offering”, issuing 6,076,500 flow-through common shares for gross proceeds of $8,750. Share issue costs related to the March 2023 Offering totaled $912, which included $525 in commissions and $387 in other issuance costs. A reconciliation of the impact of the March 2023 Offering on share capital is as follows:

	Number of common shares		Impact on share capital
Flow-through shares issued at $1.44 per share		6,076,500	$	8,750
Cash share issue costs		-		(912	)
Proceeds net of share issue costs		6,076,500	$	7,838
Less: flow-through share premium liability (note 13)		-		(3,889	)
Total allocated to share capital		6,076,500	$	3,949

During the year ended December 31, 2022:

The Company closed the “April 2022 Offering”, a non-brokered private equity placement, for gross proceeds of $11,000 which consisted of 13,750,000 common shares priced at $0.80 per share. Proceeds from the Private Placement were used to fund exploration at the Company’s Eau Claire project in Quebec and for general working capital.

Share issue costs related to the April 2022 Offering totaled $136. A reconciliation of the impact of the private placement on share capital is as follows:

	Number of common shares		Impact on share capital
Common shares issued at $0.80 per share		13,750,000	$	11,000
Cash share issue costs		-		(136	)
Proceeds net of share issue costs		13,750,000	$	10,864