Board Change • Apr 24
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Jason Cubitt was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Apr 19
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 19% 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 Less than 1 year of cash runway based on free cash flow trend (-CA$79k free cash flow). Shares are highly illiquid. Negative equity (-CA$1.3m). Earnings have declined by 30% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$659.0k market cap, or US$481.3k). Minor Risk Shareholders have been diluted in the past year (19% increase in shares outstanding). Board Change • Dec 22
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Jason Cubitt was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 22
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Jason Cubitt was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Jun 27
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$123k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$123k free cash flow). Shares are highly illiquid. Negative equity (-CA$1.3m). 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$1.29m market cap, or US$944.1k). Board Change • Jun 18
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Jason Cubitt was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 25
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Jason Cubitt was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 07
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Jason Cubitt was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Mar 19
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Jason Cubitt was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jan 23
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Jason Cubitt was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Nov 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Jason Cubitt was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Sep 16
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Shares are highly illiquid. Market cap is less than US$10m (CA$367.8k market cap, or US$270.5k). New Risk • Jul 30
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$110k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$110k free cash flow). Shares are highly illiquid. Negative equity (-CA$1.1m). Earnings have declined by 79% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$183.9k market cap, or US$132.8k). Minor Risk Shareholders have been diluted in the past year (2.9% increase in shares outstanding). New Risk • Jun 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended October 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$175k free cash flow). Shares are highly illiquid. Earnings have declined by 72% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$183.9k market cap, or US$134.4k). Minor Risks Latest financial reports are more than 6 months old (reported October 2023 fiscal period end). Shareholders have been diluted in the past year (2.9% increase in shares outstanding). Board Change • Apr 11
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Jason Cubitt was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Feb 22
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Jason Cubitt was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jan 26
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Jason Cubitt was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Dec 14
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$799k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$799k free cash flow). Shares are highly illiquid. Earnings have declined by 72% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$183.9k market cap, or US$137.2k). Minor Risk Shareholders have been diluted in the past year (5.8% increase in shares outstanding). Board Change • Nov 28
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Jason Cubitt was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Oct 26
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Jason Cubitt was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 13
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Jason Cubitt was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Aug 13
Volatus Capital Corp. Announces Board Changes Volatus Capital Corp. announced that effective August 11, 2023 Rod Husband has been appointed a director of the Company. Mr. Husband replaces Alex McAulay who resigned as a director effective August 10, 2023. Mr. Husband is a professional geologist and economic geologist with over 35 years experience in the junior resource and corporate finance sectors. His multidisciplinary experience has developed unique proficencies in evaluating mineral assets and determining their economic viability. He is well versed in project management principles: scope, budget, schedule, communication, quality and risk assessment to add value and produce optimum results. He has served as director and officer of several junior Canadian public companies where he focused on their management and corporate development, including the evaluation, financing, exploration and development of several quality projects. He has raised over $150-million for exploration and development across these companies, culminating the discovery and development of a three-million-ounce gold mine in China. He is a founding partner of Cipher Research, conducting research and analysis on hundreds of companies and projects over the past ten years, helping develop detailed valuation models used to assess prospective investments. Announcement • Aug 12
Volatus Capital Corp. announced that it expects to receive CAD 0.1 million in funding Volatus Capital Corp. announced a non-brokered private placement of up to 10,000,000 units at a price of CAD 0.01 per unit for the gross proceeds of CAD 100,000 on August 11, 2023. Each unit consists of one common share and one warrant. Each warrant entitling the holder to purchase one common share at a price of CAD 0.05 for a period of five years from closing. Finder's fees may be payable in accordance with the policies of the CSE. All securities issued will be subject to a hold period of four months and one day in accordance with applicable securities laws. The transaction is subject to the approval by the Canadian Securities Exchange. Board Change • Aug 02
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Jason Cubitt was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jun 01
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Jason Cubitt was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Mar 11
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Jason Cubitt was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Mar 03
Insider recently sold CA$72k worth of stock On the 24th of February, Damien Reynolds sold around 2m shares on-market at roughly CA$0.03 per share. This transaction amounted to 45% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$12k more than they bought in the last 12 months. Announcement • Feb 02
Volatus Capital Corp. Announces Executive Changes Volatus Capital Corp. announced that Natasha Tsai has been appointed as Chief Financial Officer of the Company. Ms. Tsai, CPA, CA, is Managing Director at Malaspina Consultants Inc. She has been a senior advisor and CFO with companies in a broad range of industries. Natasha specializes in the areas of financial operations and business performance. Prior to 2012, Natasha was the CFO of a junior mining company and the corporate controller of an early stage company in the energy sector. Natasha is a graduate of Sauder School of Business at UBC and received her Chartered Accountant designation in 2007. She is also a former co-chair of the Young CA Forum at the Institute of Chartered Accountants of BC. Rachel Chae has stepped down as chief financial officer to follow other pursuits. Announcement • Oct 22
Volatus Capital Corp., Annual General Meeting, Dec 02, 2022 Volatus Capital Corp., Annual General Meeting, Dec 02, 2022. Announcement • Sep 07
Volatus Capital Corp. announced that it expects to receive CAD 1.5 million in funding Volatus Capital Corp. announced a a non-brokered private placement of 30,000,000 units comprised of a combination of flow through units and non-flow through units at a price of CAD 0.05 per unit for gross proceeds of CAD 1,500,000 on September 6, 2022. Each flow through unit consists of one flow through share and one common share purchase warrant, and each non-flow through unit consists of one non-flow through share and one common share purchase warrant. Each warrant entitles the holder to purchase one non-flow through common share of the company at CAD 0.06 per warrant share for a period of five years from the closing. All securities issued will be subject to a four month hold period from the date of the issuance of such securities.
As of the same date, the company raised CAD 717,500 through the issuance of 4,750,000 flow-through units and 9,600,000 non-flow through units. The warrants are exercisable till September 6, 2027. All securities issued in the first tranche are subject to a four month hold period expiring January 7, 2023. Board Change • Aug 29
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Independent Director Jason Cubitt is the most experienced director on the board, commencing their role in 2019. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Board Change • Aug 02
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Independent Director Jason Cubitt is the most experienced director on the board, commencing their role in 2019. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Board Change • May 13
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Independent Director Jason Cubitt is the most experienced director on the board, commencing their role in 2019. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 01
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Independent Director Jason Cubitt is the most experienced director on the board, commencing their role in 2019. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Mar 03
Insider recently sold CA$208k worth of stock On the 28th of February, Emma Fairhurst sold around 3m shares on-market at roughly CA$0.065 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$225k more than they bought in the last 12 months. Announcement • Feb 24
Volatus Capital Corp. Appoints Alex McAulay as Director Volatus Capital Corp. announced that Alex McAulay has been appointed as a director of the company effective February 22, 2022. Mr. McAulay CPA, CA is an entrepreneur and experienced public-company CFO and director. Mr. McAulay’s company, ACM Management Inc., is focused on providing fractional CFO services and regulatory guidance to public companies in Canada and the US. Alex has served as the CFO of several listed companies and has assisted many issuers in navigating the public markets. Director Overboarding • Sep 10
Director Fred Tejada has joined 7th company board President, CEO & Director Fred Tejada has been appointed to the board of Volatus Capital Corp. (CNSX:VC). Tejada now sits on a total of 7 company boards. With 7 board positions including the role of CEO at Volatus Capital Corp. (CNSX:VC), the director is at risk of having too many board obligations according to the Simply Wall St Risk Model. Director Overboarding • Sep 10
Director Fred Tejada has joined 7th company board President, CEO & Director Fred Tejada has been appointed to the board of Volatus Capital Corp. (CNSX:VC). Tejada now sits on a total of 7 company boards. With 7 board positions including the role of CEO at Volatus Capital Corp. (CNSX:VC), the director is at risk of having too many board obligations according to the Simply Wall St Risk Model. Director Overboarding • Sep 10
Director Fred Tejada has joined 7th company board President, CEO & Director Fred Tejada has been appointed to the board of Volatus Capital Corp. (CNSX:VC). Tejada now sits on a total of 7 company boards. With 7 board positions including the role of CEO at Volatus Capital Corp. (CNSX:VC), the director is at risk of having too many board obligations according to the Simply Wall St Risk Model. Director Overboarding • Sep 10
Director Fred Tejada has joined 7th company board President, CEO & Director Fred Tejada has been appointed to the board of Volatus Capital Corp. (CNSX:VC). Tejada now sits on a total of 7 company boards. With 7 board positions including the role of CEO at Volatus Capital Corp. (CNSX:VC), the director is at risk of having too many board obligations according to the Simply Wall St Risk Model. Director Overboarding • Sep 10
Director Fred Tejada has joined 7th company board President, CEO & Director Fred Tejada has been appointed to the board of Volatus Capital Corp. (CNSX:VC). Tejada now sits on a total of 7 company boards. With 7 board positions including the role of CEO at Volatus Capital Corp. (CNSX:VC), the director is at risk of having too many board obligations according to the Simply Wall St Risk Model. Director Overboarding • Sep 10
Director Fred Tejada has joined 7th company board President, CEO & Director Fred Tejada has been appointed to the board of Volatus Capital Corp. (CNSX:VC). Tejada now sits on a total of 7 company boards. With 7 board positions including the role of CEO at Volatus Capital Corp. (CNSX:VC), the director is at risk of having too many board obligations according to the Simply Wall St Risk Model. Director Overboarding • Sep 10
Director Fred Tejada has joined 7th company board President, CEO & Director Fred Tejada has been appointed to the board of Volatus Capital Corp. (CNSX:VC). Tejada now sits on a total of 7 company boards. With 7 board positions including the role of CEO at Volatus Capital Corp. (CNSX:VC), the director is at risk of having too many board obligations according to the Simply Wall St Risk Model. Director Overboarding • Sep 10
Director Fred Tejada has joined 7th company board President, CEO & Director Fred Tejada has been appointed to the board of Volatus Capital Corp. (CNSX:VC). Tejada now sits on a total of 7 company boards. With 7 board positions including the role of CEO at Volatus Capital Corp. (CNSX:VC), the director is at risk of having too many board obligations according to the Simply Wall St Risk Model. Director Overboarding • Sep 10
Director Fred Tejada has joined 7th company board President, CEO & Director Fred Tejada has been appointed to the board of Volatus Capital Corp. (CNSX:VC). Tejada now sits on a total of 7 company boards. With 7 board positions including the role of CEO at Volatus Capital Corp. (CNSX:VC), the director is at risk of having too many board obligations according to the Simply Wall St Risk Model. Director Overboarding • Sep 10
Director Blake Morgan has joined 3rd company board Independent Director Blake Morgan has been appointed to the board of Volatus Capital Corp. (CNSX:VC). Morgan now sits on a total of 3 company boards. With 3 board positions including the role of CEO at Opawica Explorations Inc. (TSXV:OPW), the director is at risk of having too many board obligations according to the Simply Wall St Risk Model. Director Overboarding • Sep 10
Director Fred Tejada has joined 7th company board President, CEO & Director Fred Tejada has been appointed to the board of Volatus Capital Corp. (CNSX:VC). Tejada now sits on a total of 7 company boards. With 7 board positions including the role of CEO at Volatus Capital Corp. (CNSX:VC), the director is at risk of having too many board obligations according to the Simply Wall St Risk Model. Recent Insider Transactions • Nov 17
Insider recently sold CA$55k worth of stock On the 12th of November, Emma Fairhurst sold around 275k shares on-market at roughly CA$0.20 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Recent Insider Transactions • Nov 15
Insider recently sold CA$55k worth of stock On the 12th of November, Emma Fairhurst sold around 275k shares on-market at roughly CA$0.20 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Announcement • Sep 29
Volatus Capital Corp. announced a financing transaction Volatus Capital Corp. (CNSX:VC) announced non-brokered private placement of shares on September 28, 2020.
On same date the company issued 139,890 common shares priced at CAD 0.45 per common share gross proceeds of CAD 62,951 in its first tranche. The transaction included participation from Michael Collins, the President, Chief Executive Officer and a director of the company, for a total of 100,000 common shares. All securities issued are subject to a four month hold period expiring January 29, 2021. Is New 90 Day High Low • Sep 23
New 90-day low: CA$0.26 The company is down 30% from its price of CA$0.37 on 25 June 2020. The Canadian market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 18% over the same period. Announcement • Aug 19
Volatus Capital Corp. (CNSX:VC) completed the acquisition of MagMetal Tech Pty Ltd. Volatus Capital Corp. (CNSX:VC) agreed to acquire MagMetal Tech Pty Ltd. for AUD 2.6 million on June 24, 2020. Under the terms of the transaction, Volatus will issue 5% of its issued and outstanding stock, AUD 2 million of shares and AUD 0.5 million in cash payable in two tranches of AUD 0.2 million within 90 days and AUD 0.3 million within 180 days. In a related transaction, Volatus is currently in exclusive negotiations to acquire the remaining 80% of the project. The transaction is subject to a number of conditions including Australian Foreign Investment Board Approval. The transaction is expected to be completed on the sooner of the tenth business day after the date that FIRB approves the transaction and December 9, 2020.
Volatus Capital Corp. (CNSX:VC) completed the acquisition of MagMetal Tech Pty Ltd. on August 13, 2020. Announcement • Aug 06
Mariner Resources Corp. (CNSX:RNR) completed the acquisition of True Grit and Middle Ridge North Gold Properties in Newfoundland and Labrador from Crest Resources Inc. (CNSX:CRES), Volatus Capital Corp. (CNSX:VC) and Nicholas Rodway. Mariner Resources Corp. (CNSX:RNR) entered into an agreement to acquire True Grit and Middle Ridge North Gold Properties in Newfoundland and Labrador from Crest Resources Inc. (CNSX:CRES), Volatus Capital Corp. (CNSX:VC) and Nicholas Rodway for CAD 2.6 million on July 31, 2020. Under the terms of the agreement, Mariner will acquire a 100% interest in the properties for consideration of 7 million common shares of Mariner. A 2% net smelter returns royalty on one mineral license, of which Mariner can purchase 1% NSR for CAD 1 million at any time, is reserved by the underlying vendor of the license. The vendors' interest in the properties is currently held 85% by Crest Resources Inc., 5% by Volatus Capital Corp. and 10% by Nicholas Rodway, an officer of Crest Resources. Crest Resources will receive 5.8 million common shares of Mariner in the transaction. Volatus Capital will receive 342,500 common shares of Mariner. Following the transaction, Crest Resources will own and control 8,602,500 common shares of Mariner representing 42.38% of the then issued and outstanding common shares.
Mariner Resources Corp. (CNSX:RNR) completed the acquisition of True Grit and Middle Ridge North Gold Properties in Newfoundland and Labrador from Crest Resources Inc. (CNSX:CRES), Volatus Capital Corp. (CNSX:VC) and Nicholas Rodway on August 5, 2020. Announcement • Aug 01
Mariner Resources Corp. (CNSX:RNR) entered into an agreement to acquire True Grit and Middle Ridge North Gold Properties in Newfoundland and Labrador from Crest Resources Inc. (CNSX:CRES), Volatus Capital Corp. (CNSX:VC) and Nicholas Rodway for CAD 2.6 million. Mariner Resources Corp. (CNSX:RNR) entered into an agreement to acquire True Grit and Middle Ridge North Gold Properties in Newfoundland and Labrador from Crest Resources Inc. (CNSX:CRES), Volatus Capital Corp. (CNSX:VC) and Nicholas Rodway for CAD 2.6 million on July 31, 2020. Under the terms of the agreement, Mariner will acquire a 100% interest in the properties for consideration of 7 million common shares of Mariner. A 2% net smelter returns royalty on one mineral license, of which Mariner can purchase 1% NSR for CAD 1 million at any time, is reserved by the underlying vendor of the license. The vendors' interest in the properties is currently held 85% by Crest Resources Inc., 5% by Volatus Capital Corp. and 10% by Nicholas Rodway, an officer of Crest Resources. Crest Resources will receive 5.8 million common shares of Mariner in the transaction. Volatus Capital will receive 342,500 common shares of Mariner. Following the transaction, Crest Resources will own and control 8,602,500 common shares of Mariner representing 42.38% of the then issued and outstanding common shares. 
