New Risk • Mar 25
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 17% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (92% average weekly change). Negative equity (-CA$7.5m). Earnings have declined by 55% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$5.78m market cap, or US$4.19m). Minor Risk Shareholders have been diluted in the past year (17% increase in shares outstanding). Announcement • Oct 10
Earthworks Industries Inc. announced that it expects to receive CAD 0.3 million in funding Earthworks Industries Inc. announced a non-brokered private placement to issue 5,000,000 units at an issue price of CAD 0.06 for gross proceeds of CAD 300,000 on October 9, 2025. Each unit will consist of one common share of the company and one share purchase warrant. Each warrant will be exercisable to purchase one additional share of the company at CAD 0.10 for a period of two years. The company anticipates paying commissions with respect to some of the placements. Announcement • Oct 08
Earthworks Industries Inc., Annual General Meeting, Dec 10, 2025 Earthworks Industries Inc., Annual General Meeting, Dec 10, 2025. Location: british columbia, vancouver Canada New Risk • Jul 30
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Negative equity (-CA$7.2m). Earnings have declined by 49% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$5.23m market cap, or US$3.78m). Minor Risk Shareholders have been diluted in the past year (15% increase in shares outstanding). Announcement • Jul 24
Earthworks Industries Inc. announced that it has received CAD 0.376 million in funding On July 23, 2025, Earthworks Industries Inc. closed the transaction. The company issued 2,250,000 units at an issue price of CAD 0.05 for gross proceeds of CAD 112,500 in its second and final tranche. The placement includes sales to four directors of a total of 2,370,000 units. With respect to the unit sales, the company will pay finders fees or commissions of 8% cash on some of the placements, totaling CAD 1,400. The placements are subject to acceptance for filing by the TSX Venture Exchange. New Risk • May 28
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Negative equity (-CA$7.0m). Earnings have declined by 38% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$7.71m market cap, or US$5.58m). Minor Risk Shareholders have been diluted in the past year (16% increase in shares outstanding). Announcement • Apr 02
Earthworks Industries Inc. announced that it expects to receive CAD 0.375 million in funding Earthworks Industries, Inc. announced a non-brokered private placement sale of 7,500,000 units at CAD 0.05 per unit to provide the Company with gross proceeds of CAD 375,000 on April 1, 2025. Each unit will consist of one common share of the Company and one share purchase warrant. Each warrant will be exercisable to purchase one additional share of the Company at CAD 0.10 for a period of two years with a forced exercise should the Company's share price close at or above CAD 0.20 for 20 consecutive trading days. The Company anticipates paying commissions with respect to some of the placements. New Risk • Apr 01
New major risk - Negative shareholders equity The company has negative equity. Total equity: -CA$6.8m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (23% average weekly change). Negative equity (-CA$6.8m). Earnings have declined by 17% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$6.78m market cap, or US$4.73m). Announcement • Jan 24
Earthworks Industries Inc. announced that it has received CAD 0.5 million in funding On January 23, 2025, Earthworks Industries Inc., closed the transaction. The company issued 5,900,000 units for the gross proceeds of CAD 295,000 in its second tranche closing. The company paid CAD finders fees or commissions of 8% cash with respect to some of the placements totaling CAD 13,600. The placements are subject to acceptance for filing by the TSX Venture Exchange. Announcement • Nov 28
Earthworks Industries Inc. announced that it expects to receive CAD 0.5 million in funding Earthworks Industries Inc. announced a non-brokered private placement sale of up to 10,000,000 units at a price of CAD 0.05 per unit for proceeds of CAD 500,000 on November 27, 2024. Each unit will consist of one common share of the Company and one share purchase warrant. Each warrant will be exercisable to purchase one additional share of the Company at CAD 0.10 for a period of two years. The placements are subject to completion of final documentation and acceptance for filing by the TSX Venture Exchange. All securities issued as part of the placement will be subject to a hold period in Canada of four months and one day from the closing. Announcement • Jun 25
Earthworks Industries Inc., Annual General Meeting, Aug 20, 2024 Earthworks Industries Inc., Annual General Meeting, Aug 20, 2024. Location: british columbia, vancouver Canada New Risk • Apr 05
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (19% average weekly change). High level of non-cash earnings (33% accrual ratio). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (CA$24.3m market cap, or US$17.9m). Announcement • Jan 27
Earthworks Industries Inc. Announces Resignation of David F. Andrews as Director Earthworks Industries Inc. announced the resignation of David F. Andrews as a Director of the Company. Mr. Andrews has contributed greatly to the Company's development both as a major investor and since his appointment as a Director in 1992. Announcement • Jan 25
Earthworks Industries Inc. Announces Appointment of Giulio Bonifacio as Director Earthworks Industries Inc. announced the appointment of Giulio Bonifacio as a Director of the Company. Mr. Bonifacio has over 35 years of experience in senior executive roles in the mining industry in both the base and precious metals sector. Mr. Bonifacio was the Founder, President, Chief Executive Officer and Director of Nevada Copper from 2005 until his retirement in February 2018. Mr. Bonifacio led and directed every stage of advancement of Nevada Copper's Pumpkin Hollow copper mine from exploration, development, permitting and construction. Mr. Bonifacio is a Chartered Professional Accountant with considerable experience and knowledge of operations, capital markets and project finance while raising significant amounts of capital for projects of merit. Mr. Bonifacio has held previous senior executive roles with Getty Resources Limited, Total Energold Corp., an energy and gold producer, and Vengold Inc., gold producer prior to founding Nevada Copper in 2005. Mr. Bonifacio was formerly President, Chief Executive Officer and Non-Executive Chair of Faraday Copper Corp. from May 2018 until April 2022. Mr. Bonifacio is currently the Executive Chair of Alta Copper Corp. and Non-Executive Chair of Nevgold Corp. The Company announced in its News Release dated October 5, 2023, that Mr. Bonifacio had joined the Company as a strategic advisor. Mr. Bonifacio was formerly a director of the Company from 2002 until 2013. Announcement • Nov 03
Earthworks Industries Inc. announced that it has received CAD 1.5 million in funding On November 2, 2023, Earthworks Industries Inc. closed the transaction. The transaction included participation from David Russell, an insider of the company, has subscribed for 100,000 units under the Offering for aggregate gross proceeds of CAD 20,000. The offering remains subject to the final acceptance of the TSXV. Announcement • Sep 22
Earthworks Industries Inc. announced that it expects to receive CAD 5 million in funding Earthworks Industries Inc. announced a brokered private placement of minimum of 20,000,000 units at a price of CAD 0.20 per unit for the gross proceeds of CAD 4,000,000 and a maximum of 25,000,000 units at a price of CAD 0.20 per unit for the gross proceeds of CAD 5,000,000 on September 20, 2023. Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share at a price of CAD 0.40, subject to adjustment in certain events, for a period of 24 months following the closing date. All securities will be subject to a hold period in accordance with applicable Canadian securities law, expiring four months and one day following the closing date. The company expects to close the offering on or about October 23, 2023, or such other date as the company and Agents may agree. The transaction is subject to certain conditions including, but not limited to, the receipt of all necessary TSX Venture Exchange and regulatory approvals. Upon closing of the offering, the company shall pay to the Agents a cash commission equal to 6% of the aggregate gross proceeds of the offering and non-transferrable broker warrants of the company exercisable at any time prior to the date that is 24 months from the closing date to acquire that number of units equal to 6% of the number of units issued under the offering at an exercise price equal to the issue price, subject to adjustment in certain events. Announcement • May 19
Earthworks Industries Inc. announced that it has received CAD 0.9 million in funding On May 18, 2023, Earthworks Industries Inc. closed the transaction. Announcement • May 16
Earthworks Industries Inc. announced that it expects to receive CAD 0.9 million in funding Earthworks Industries Inc. announced a non-brokered private placement of up to 4,500,000 units at the price of CAD 0.20 per unit for gross proceeds of up to CAD 900,000 on May 15, 2023. Each unit will consist of one common share and one share purchase warrant. Each warrant will be exercisable to purchase one additional common share at a price of CAD 0.40 for a period of one year. Board Change • Nov 16
Less than half of directors are independent 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. 2 highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Calvin Woroniak was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Sep 27
Earthworks Industries Inc. announced that it has received CAD 0.5 million in funding On September 26, 2022, Earthworks Industries Inc. closed the transaction. The company received net proceeds of CAD 485,720 after payments of commissions. The company paid CAD 14,280 in cash and issued 71,400 broker warrants to finders who introduced accredited investors to the offering. All shares included in the units and any shares issued as a result of exercise of the warrants will be subject to a non-trading period expiring Jan. 22, 2023. Announcement • Aug 27
Earthworks Industries Inc. announced that it expects to receive CAD 0.5 million in funding Earthworks Industries Inc. announced a private placement of 2,500,000 units at a price of CAD 0.2 per unit for proceeds of CAD 500,000 on August 26, 2022. Each unit will consist of one common share and one warrant. Each warrant is exercisable to purchase an additional share for CAD 0.3 for two years. The placement is subject to final acceptance by TSX Venture Exchange. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Calvin Woroniak was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 07
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Calvin Woroniak was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jul 31
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Calvin Woroniak was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jun 23
Earthworks Industries Inc. announced that it has received CAD 0.25 million in funding On June 21, 2021, Earthworks Industries Inc. (TSXV:EWK) closed the transaction. The company paid finder's fees of CAD 250,000 to Haywood Securities Inc. TSX venture has accepted for filing documentation with respect to the transaction. Announcement • Jun 02
Earthworks Industries Inc. announced that it expects to receive CAD 0.25 million in funding Earthworks Industries Inc. (TSXV:EWK) announced a non-brokered private placement of 1,250,000 units at a price of CAD 0.2 per unit for gross proceeds of CAD 250,000 on June 1, 2021. Each unit will consist of one share of the company and one share purchase warrant. Each warrant will be exercisable to purchase one additional share of the company for CAD 0.3 for two years, with a forced exercise should the company's share price close at or above CAD 0.45 for 20 consecutive trading days. Fees will be paid for the placement secured by qualified agents for the company. The transaction is subject to final documentation and acceptance for filing by the TSX Venture Exchange. Announcement • Jan 16
Earthworks Industries Inc., Annual General Meeting, Mar 19, 2021 Earthworks Industries Inc., Annual General Meeting, Mar 19, 2021. Is New 90 Day High Low • Jan 07
New 90-day high: CA$0.34 The company is up 55% from its price of CA$0.22 on 08 October 2020. The Canadian market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 16% over the same period. Announcement • Dec 16
Earthworks Industries Inc. announced that it has received CAD 0.5225 million in funding On December 14, 2020, Earthworks Industries Inc. (TSXV:EWK) closed the transaction. The company has issued 2,612,500 units for gross proceeds of CAD 522,500. The company issued 1,775,000 units for gross proceeds CAD 355,000 in its second and final tranche. The tranche included participation from one directors of 50,000 units. The securities issued in the first tranche second tranche will have a hold period expiring on March 27, 2021 and April 9, 2021. The company has paid finder's fees to five finder's a total of CAD 18,900 and also issued 94,500 purchase warrants. Is New 90 Day High Low • Dec 16
New 90-day high: CA$0.30 The company is up 20% from its price of CA$0.25 on 16 September 2020. The Canadian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Commercial Services industry, which is also up 20% over the same period. Is New 90 Day High Low • Oct 17
New 90-day low: CA$0.20 The company is down 28% from its price of CA$0.28 on 17 July 2020. The Canadian market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services industry, which is up 9.0% over the same period. Is New 90 Day High Low • Sep 24
New 90-day low: CA$0.22 The company is down 31% from its price of CA$0.32 on 26 June 2020. The Canadian market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services industry, which is up 10.0% over the same period.