Each one in plain English, with the numbers worked through for a shareholder.
31 Jan 2023capital raising announcement● Neutral
On January 27, 2023 the company sold shares in private placements: 1,250,000 at CDN $0.05 (CDN $62,500), 7,200,000 at CDN $0.025 (CDN $180,000) and 420,000 at USD $0.02 (USD $8,400). It also issued 450,000 shares for debt at USD $0.002 and 5,240,000 shares to nine people for debt at CDN $0.025. The prices are much higher than in 2022 (CDN $0.0025), consistent with a share consolidation (inference); the filing mentions a flow-through subscription form, but does not describe a flow-through sale.
9 Aug 2022asset acquisition disposition● NeutralMajor
The company amended the Frog Property purchase with 86835 Newfoundland & Labrador Corp.: the shares issued fell from 28,500,000 to 27,500,000 and the claims from 315 to 262. It also raised authorized common stock from 100,000,000 to 250,000,000 shares, effective August 1, 2022, as approved by 99.76% of participating shareholders on May 4, 2022. The company is now named Wolverine Resources Corp. The share numbers (28.5M versus the earlier 570M) differ from the February 2022 filing, and the filing does not explain this; it is possibly a share consolidation, which is an inference. The deal got smaller, with fewer claims for slightly fewer shares.
On March 14, 2022 the company sold 70,000,000 shares to ten non-US persons at CDN $0.0025 (CDN $175,000). It also issued 5,000,000 shares to five US persons and 188,660,000 shares to 57 non-US persons to settle debts at about USD $0.002 a share. This adds to the dilution just after the 570 million shares issued for the Frog Property.
2 Mar 2022asset acquisition disposition● NeutralMajor
On February 28, 2022 the company agreed to buy a 40% interest in the Frog Property in Labrador (315 claims, 7,843 hectares) from 86835 Newfoundland & Labrador Corp., issuing 570,000,000 shares at a deemed $0.002 (about $1,140,000). The seller is a non-arm's length party: Bruce Costerd and Luke Rich are officers, directors and shareholders of both companies. The company plans further exploration in 2022, starting with 45 km of ground magnetics, and appointed Craig Young as a director on March 1, 2022. This marks a return to mineral exploration after the technology-focused period; the filing mentions base metals. The share count is large relative to prior issues.
