New Risk • Apr 10
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.8m (US$9.98m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (185% accrual ratio). Revenue is less than US$1m (CA$158k revenue, or US$114k). Market cap is less than US$10m (CA$13.8m market cap, or US$9.98m). Reported Earnings • Mar 08
Third quarter 2026 earnings released: EPS: CA$0.067 (vs CA$0.002 loss in 3Q 2025) Third quarter 2026 results: EPS: CA$0.067 (up from CA$0.002 loss in 3Q 2025). Net income: CA$10.8m (up CA$11.2m from 3Q 2025). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Jan 14
Britannia Life Sciences Inc., Annual General Meeting, Feb 24, 2026 Britannia Life Sciences Inc., Annual General Meeting, Feb 24, 2026. Reported Earnings • Dec 02
Second quarter 2026 earnings released: CA$0.003 loss per share (vs CA$0.01 loss in 2Q 2025) Second quarter 2026 results: CA$0.003 loss per share (improved from CA$0.01 loss in 2Q 2025). Net loss: CA$411.3k (loss narrowed 73% from 2Q 2025). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Nov 03
McEwen Inc. (NYSE:MUX) signed agreement to acquire an unknown minority stake in Britannia Mining Solutions Inc. from Britannia Life Sciences Inc. (CNSX:BLAB). McEwen Inc. (NYSE:MUX) signed agreement to acquire an unknown minority stake in Britannia Mining Solutions Inc. from Britannia Life Sciences Inc. (CNSX:BLAB) on November 3, 2025. McEwen will acquire a 31% equity interest in Britannia Mining Solutions through a strategic investment by purchasing 648,002 shares from Britannia Life Sciences Inc. and 226,286 shares from Paragon Geochemical Laboratories Inc. via a private placement, both at a deemed price of CAD 17.50 per Britannia Mining Solutions share. The total consideration of CAD 15.3 million will be payable in shares of McEwen. Upon completion of the transaction, McEwen will become Britannia Mining Solutions largest shareholder. Ian Ball, Vice-Chairman of McEwen, will join Britannia Mining Solutions board at the time of listing. In addition, McEwen will have the right to nominate one additional board member. Board Change • Sep 22
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. CEO & Director Pete Shippen was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 31
First quarter 2026 earnings released: CA$0.004 loss per share (vs CA$0.005 loss in 1Q 2025) First quarter 2026 results: CA$0.004 loss per share (improved from CA$0.005 loss in 1Q 2025). Net loss: CA$690.9k (loss narrowed 6.4% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 31
Full year 2025 earnings released: CA$0.029 loss per share (vs CA$0.029 loss in FY 2024) Full year 2025 results: CA$0.029 loss per share (in line with FY 2024). Net loss: CA$4.67m (loss narrowed 2.0% from FY 2024). Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Jul 28
Britannia Life Sciences Inc. announced that it expects to receive CAD 10 million in funding Britannia Life Sciences Inc. announced a non-brokered private placement offering of unsecured debentures for gross proceeds of up to CAD 10 million on July 28, 2025. To bear interest at 18% per annum, paid monthly subject to a 60 day delayed accrual, to have a 10-year term from the date of issuance, to be listed on the CSE (subject to prior satisfaction of all CSE listing requirements with respect to the Debentures), to be redeemable by the Company after 2 years at 101% of the then-prevailing market price, to be offered in minimum subscriptions of $50,000. The offering is expected to close on or before September 15, 2025. Buy Or Sell Opportunity • Jul 22
Now 53% overvalued after recent price rise Over the last 90 days, the stock has risen 42% to CA$0.085. The fair value is estimated to be CA$0.055, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.9% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Jul 04
Now 29% overvalued Over the last 90 days, the stock has fallen 6.7% to CA$0.07. The fair value is estimated to be CA$0.054, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.9% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Jun 12
Now 22% overvalued Over the last 90 days, the stock has fallen 13% to CA$0.065. The fair value is estimated to be CA$0.053, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.9% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • May 21
Now 29% overvalued The stock has been flat over the last 90 days, currently trading at CA$0.07. The fair value is estimated to be CA$0.054, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.9% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • May 01
Now 21% overvalued Over the last 90 days, the stock has fallen 7.1% to CA$0.065. The fair value is estimated to be CA$0.054, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.9% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Apr 14
Now 29% overvalued Over the last 90 days, the stock has fallen 13% to CA$0.07. The fair value is estimated to be CA$0.054, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.9% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Mar 06
Now 39% overvalued after recent price rise Over the last 90 days, the stock has risen 30% to CA$0.065. The fair value is estimated to be CA$0.047, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.9% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Mar 04
Third quarter 2025 earnings released: CA$0.001 loss per share (vs CA$0.003 profit in 3Q 2024) Third quarter 2025 results: CA$0.001 loss per share (down from CA$0.003 profit in 3Q 2024). Revenue: CA$1.74m (down 4.0% from 3Q 2024). Net loss: CA$136.9k (down 126% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 32% per year, which means it is significantly lagging earnings. New Risk • Feb 01
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: CA$7.3m (US$5.0m) This is considered a minor risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (53% average weekly change). Earnings have declined by 0.07% per year over the past 5 years. Market cap is less than US$10m (CA$11.4m market cap, or US$7.81m). Minor Risk Revenue is less than US$5m (CA$7.3m revenue, or US$5.0m). Board Change • Jan 07
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. CEO & Director Pete Shippen was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Dec 01
New major risk - Revenue and earnings growth Earnings have declined by 0.07% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (58% average weekly change). Earnings have declined by 0.07% per year over the past 5 years. Market cap is less than US$10m (CA$8.11m market cap, or US$5.79m). Reported Earnings • Dec 01
Second quarter 2025 earnings released: CA$0.007 loss per share (vs CA$0.004 profit in 2Q 2024) Second quarter 2025 results: CA$0.007 loss per share (down from CA$0.004 profit in 2Q 2024). Revenue: CA$1.96m (down 5.7% from 2Q 2024). Net loss: CA$1.19m (down 265% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings. Announcement • Oct 11
Britannia Life Sciences Inc. announced that it expects to receive CAD 0.00255 million in funding Britannia Life Sciences Inc. announced a private placement to issue 2% Unsecured Convertible Debenture at principal amount of CAD 2,550 for gross proceeds of CAD 2,550 on October 10, 2024. Under the terms of the first offering, the company will issue CAD 1,275 principal amount 2% unsecured debentures that will have a two-year term and be convertible into common shares of BMS . Pursuant to the second offering, BMS will directly issue CAD 1,275 principal amount 2% unsecured convertible debentures due two years from closing to investors. Each debenture will automatically convert into 100
common shares of BMS, representing a conversion price of CAD 12.75 per common share. Announcement • Sep 17
Britannia Life Sciences Inc., Annual General Meeting, Nov 12, 2024 Britannia Life Sciences Inc., Annual General Meeting, Nov 12, 2024. Board Change • Sep 16
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Chairman Greg Taylor is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 30
Full year 2024 earnings released: CA$0.029 loss per share (vs CA$0.031 profit in FY 2023) Full year 2024 results: CA$0.029 loss per share (down from CA$0.031 profit in FY 2023). Revenue: CA$7.57m (up 18% from FY 2023). Net loss: CA$4.77m (down 194% from profit in FY 2023). Announcement • Jul 23
Britannia Life Sciences Inc. announced that it has received CAD 0.932 million in funding On July 22, 2024, Britannia Life Sciences Inc. closed the transaction. The company issued 10% 932 unsecured non convertible subordinated debenture units at an issue price of CAD 1,000 per unit for the gross proceeds of CAD 932,000. The transaction included participation from insiders for CAD 260,000. The company paid finder's fees in the amount of CAD 3,500 in connection with the private placement. The debentures will pay interest at a rate of 10% per annum, paid annually in arrears, and have a maturity date of 12 months from the date of issue, subject to extension at the company's option for an additional 12 months. Buy Or Sell Opportunity • Mar 12
Now 28% undervalued The stock has been flat over the last 90 days, currently trading at CA$0.07. The fair value is estimated to be CA$0.098, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Mar 01
Third quarter 2024 earnings released: EPS: CA$0.003 (vs CA$0 in 3Q 2023) Third quarter 2024 results: EPS: CA$0.003 (up from CA$0 in 3Q 2023). Revenue: CA$1.81m (up 9.6% from 3Q 2023). Net income: CA$535.3k (up CA$589.7k from 3Q 2023). Profit margin: 30% (up from net loss in 3Q 2023). New Risk • Dec 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 22% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.5x net interest cover). Share price has been highly volatile over the past 3 months (22% average weekly change). Market cap is less than US$10m (CA$13.0m market cap, or US$9.55m). Minor Risk Large one-off items impacting financial results. Announcement • Dec 01
Britannia Life Sciences Inc. (CNSX:BLAB) acquired additional 2% stake in Advanced Development & Safety Laboratories Limited for $0.943 million. Britannia Life Sciences Inc. (CNSX:BLAB) acquired additional 2% stake in Advanced Development & Safety Laboratories Limited for $0.943 million on November 22, 2023. The acquisition increases the Company's ownership interest in ADSL to 72%.Britannia Life Sciences Inc. (CNSX:BLAB) completed the acquisition of additional 2% stake in Advanced Development & Safety Laboratories Limited on November 22, 2023. Reported Earnings • Dec 01
Second quarter 2024 earnings released: EPS: CA$0.004 (vs CA$0.007 in 2Q 2023) Second quarter 2024 results: EPS: CA$0.004 (down from CA$0.007 in 2Q 2023). Revenue: CA$2.07m (up 30% from 2Q 2023). Net income: CA$724.2k (down 33% from 2Q 2023). Profit margin: 35% (down from 68% in 2Q 2023). Board Change • Sep 09
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Chairman Greg Taylor is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. New Risk • Aug 02
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.2x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.2x net interest cover). High level of non-cash earnings (33% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Revenue is less than US$5m (CA$6.4m revenue, or US$4.8m). Market cap is less than US$100m (CA$16.2m market cap, or US$12.2m). Reported Earnings • Aug 01
Full year 2023 earnings released: EPS: CA$0.031 (vs CA$0.14 loss in FY 2022) Full year 2023 results: EPS: CA$0.031 (up from CA$0.14 loss in FY 2022). Revenue: CA$6.40m (down 12% from FY 2022). Net income: CA$5.08m (up CA$20.5m from FY 2022). Profit margin: 79% (up from net loss in FY 2022). Announcement • Jul 29
Britannia Life Sciences Inc., Annual General Meeting, Sep 26, 2023 Britannia Life Sciences Inc., Annual General Meeting, Sep 26, 2023. New Risk • Jul 26
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.0m (US$9.83m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Revenue has declined by 6.8% over the past year. Market cap is less than US$10m (CA$13.0m market cap, or US$9.83m). Minor Risk Revenue is less than US$5m (CA$6.5m revenue, or US$4.9m). Buying Opportunity • Jul 25
Now 31% undervalued after recent price drop Over the last 90 days, the stock is down 5.9%. The fair value is estimated to be CA$0.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 57% over the last 3 years. Earnings per share has declined by 4.3%. Buying Opportunity • Apr 25
Now 25% undervalued Over the last 90 days, the stock is up 36%. The fair value is estimated to be CA$0.13, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 57% over the last 3 years. Earnings per share has declined by 4.3%. Buying Opportunity • Mar 13
Now 26% undervalued Over the last 90 days, the stock is up 27%. The fair value is estimated to be CA$0.13, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 57% over the last 3 years. Earnings per share has declined by 4.3%. Reported Earnings • Mar 02
Third quarter 2023 earnings released: EPS: CA$0 (vs CA$0.083 loss in 3Q 2022) Third quarter 2023 results: EPS: CA$0 (improved from CA$0.083 loss in 3Q 2022). Revenue: CA$1.65m (flat on 3Q 2022). Net loss: CA$54.3k (loss narrowed 100% from 3Q 2022). Reported Earnings • Dec 01
Second quarter 2023 earnings released: EPS: CA$0.007 (vs CA$0.01 loss in 2Q 2022) Second quarter 2023 results: EPS: CA$0.007 (up from CA$0.01 loss in 2Q 2022). Revenue: CA$1.59m (down 17% from 2Q 2022). Net income: CA$1.08m (up CA$1.88m from 2Q 2022). Profit margin: 68% (up from net loss in 2Q 2022). Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Director Greg Taylor was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 15
Britannia Life Sciences Inc., Annual General Meeting, Dec 15, 2022 Britannia Life Sciences Inc., Annual General Meeting, Dec 15, 2022. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Director Greg Taylor was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 09
Britannia Life Sciences Inc. (CNSX:BLAB) entered into an agreement to acquire additional 10% stake in Advanced Development & Safety Laboratories Limited. Britannia Life Sciences Inc. (CNSX:BLAB) entered into an agreement to acquire additional 10% stake in Advanced Development & Safety Laboratories Limited on April 7, 2022. Upon completion of the Additional ADSL Purchase, Britannia will own a 70% interest in ADSL, Britannia's largest operating subsidiary. Gowling WLG (UK) LLP and Bennett Jones LLP acted as legal advisor to Britannia Life Sciences Inc. Recent Insider Transactions • Dec 04
Director & CEO recently bought CA$55k worth of stock On the 26th of November, Peter Shippen bought around 342k shares on-market at roughly CA$0.16 per share. In the last 3 months, they made an even bigger purchase worth CA$434k. Peter has been a buyer over the last 12 months, purchasing a net total of CA$488k worth in shares. Recent Insider Transactions • Nov 27
Director & CEO recently bought CA$434k worth of stock On the 18th of November, Peter Shippen bought around 2m shares on-market at roughly CA$0.28 per share. This was the largest purchase by an insider in the last 3 months. This was Peter's only on-market trade for the last 12 months. Board Change • Nov 20
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Director Greg Taylor was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.