Exhibit 99.1
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL
POSITION
(Unaudited -
Expressed in thousands of Canadian dollars (“CAD”)
except for share amounts)
|
||||||
|
|
|
|
At March
31
2022
|
|
At December
31
2021
|
|
|
|
|
|
|
|
ASSETS
|
|
|
|
|
|
|
Current
|
|
|
|
|
|
|
Cash and cash
equivalents (note 4)
|
|
|
$
|
65,290
|
$
|
63,998
|
Trade and other
receivables (note 5)
|
|
|
|
3,164
|
|
3,656
|
Inventories (note
6)
|
|
|
|
3,271
|
|
3,454
|
Investments-equity
instruments (note 7)
|
|
|
|
18,615
|
|
14,437
|
Prepaid expenses
and other
|
|
|
|
1,723
|
|
1,310
|
|
|
|
|
92,063
|
|
86,855
|
Non-Current
|
|
|
|
|
|
|
Inventories-ore
in stockpiles (note 6)
|
|
|
|
2,098
|
|
2,098
|
Investments-equity
instruments (note 7)
|
|
|
|
238
|
|
141
|
Investments-uranium
(note 7)
|
|
|
|
180,870
|
|
133,114
|
Investments-joint
venture (note 8)
|
|
|
|
20,900
|
|
21,392
|
Prepaid expenses
and other
|
|
|
|
166
|
|
221
|
Restricted cash
and investments (note 9)
|
|
|
|
12,986
|
|
12,001
|
Property, plant
and equipment (note 10)
|
|
|
|
253,377
|
|
254,462
|
Total
assets
|
|
|
$
|
562,698
|
$
|
510,284
|
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
|
Current
|
|
|
|
|
|
|
Accounts payable
and accrued liabilities (note 11)
|
|
|
$
|
12,616
|
$
|
8,590
|
Warrants on
investment (note 7)
|
|
|
|
2,763
|
|
1,625
|
Share purchase
warrant liabilities (note 15)
|
|
|
|
20,821
|
|
-
|
Current portion
of long-term liabilities:
|
|
|
|
|
|
|
Deferred revenue
(note 12)
|
|
|
|
4,171
|
|
4,656
|
Post-employment
benefits (note 13)
|
|
|
|
120
|
|
120
|
Reclamation
obligations (note 14)
|
|
|
|
1,181
|
|
1,181
|
Other liabilities
(note 16)
|
|
|
|
186
|
|
179
|
|
|
|
|
41,858
|
|
16,351
|
Non-Current
|
|
|
|
|
|
|
Deferred revenue
(note 12)
|
|
|
|
30,308
|
|
31,852
|
Post-employment
benefits (note 13)
|
|
|
|
1,111
|
|
1,154
|
Reclamation
obligations (note 14)
|
|
|
|
33,141
|
|
36,351
|
Share purchase
warrant liabilities (note 15)
|
|
|
|
-
|
|
20,337
|
Other liabilities
(note 16)
|
|
|
|
382
|
|
329
|
Deferred income
tax liability
|
|
|
|
6,683
|
|
7,219
|
Total
liabilities
|
|
|
|
113,483
|
|
113,593
|
|
|
|
|
|
|
|
EQUITY
|
|
|
|
|
|
|
Share capital
(note 17)
|
|
|
|
1,526,394
|
|
1,517,029
|
Contributed
surplus (note 18)
|
|
|
|
68,029
|
|
67,496
|
Deficit
|
|
|
|
(1,146,987)
|
|
(1,189,610)
|
Accumulated other
comprehensive income (note 19)
|
|
|
|
1,779
|
|
1,776
|
Total
equity
|
|
|
|
449,215
|
|
396,691
|
Total
liabilities and equity
|
|
|
$
|
562,698
|
$
|
510,284
|
|
|
|
|
|
|
|
Issued and
outstanding common shares (in thousands) (note 17)
|
|
817,767
|
|
812,430
|
||
Commitments
and contingencies (note 24)
|
|
|
|
|
|
|
Subsequent
events (note 25)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The accompanying
notes are integral to the condensed interim consolidated financial
statements
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF INCOME (LOSS) AND
COMPREHENSIVE INCOME (LOSS)
|
||||||||||||
(Unaudited -
Expressed in thousands of CAD dollars except for share and per
share amounts)
|
||||||||||||
|
|
|
|
Three
Months Ended
March
31
|
||||||||
|
|
|
|
|
|
2022
|
|
2021
|
||||
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
||||
REVENUES (note 21)
|
|
|
|
|
$
|
4,125
|
$
|
2,496
|
||||
|
|
|
|
|
|
|
|
|
||||
EXPENSES
|
|
|
|
|
|
|
|
|
||||
Operating (notes
20 and 21)
|
|
|
|
|
|
(2,398)
|
|
(1,888)
|
||||
Evaluation (note
21)
|
|
|
|
|
|
(4,465)
|
|
(2,761)
|
||||
Exploration (note
21)
|
|
|
|
|
|
(2,566)
|
|
(1,348)
|
||||
General and
administrative (note 21)
|
|
|
|
|
|
(4,064)
|
|
(2,625)
|
||||
Other income
(expense) (note 20)
|
|
|
|
|
|
52,645
|
|
(2,041)
|
||||
|
|
|
|
|
|
39,152
|
|
(10,663)
|
||||
Income
(loss) before net finance expense
|
|
|
|
|
|
43,277
|
|
(8,167)
|
||||
Finance expense,
net (note 20)
|
|
|
|
|
|
(698)
|
|
(1,025)
|
||||
Equity share of
loss of joint venture (note 8)
|
|
|
|
|
|
(492)
|
|
-
|
||||
Income (loss)
before taxes
|
|
|
|
|
|
42,087
|
|
(9,192)
|
||||
Income tax
recovery
|
|
|
|
|
|
|
|
|
||||
Deferred
|
|
|
|
|
|
536
|
|
308
|
||||
Net income (loss)
for the period
|
|
|
|
|
$
|
42,623
|
$
|
(8,884)
|
||||
|
|
|
|
|
|
|
|
|
||||
Other
comprehensive income (loss) (note 19):
|
|
|
|
|
|
|
|
|
||||
Items that are or
may be subsequently reclassified to income (loss):
|
|
|
|
|
|
|
||||||
Foreign currency
translation change
|
|
|
|
|
|
3
|
|
3
|
||||
Comprehensive
income (loss) for the period
|
|
|
|
|
$
|
42,626
|
$
|
(8,881)
|
||||
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
||||
Basic and diluted
net income (loss) per share:
|
|
|
|
|
|
|
|
|
||||
Basic
|
|
|
|
|
$
|
0.05
|
$
|
(0.01)
|
|
|||
Diluted
|
|
|
|
|
$
|
0.05
|
$
|
(0.01)
|
|
|||
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
||||
Weighted-average
number of shares outstanding (in thousands):
|
|
|
|
|
||||||||
Basic
|
|
814,788
|
|
714,424
|
||||||||
Diluted
|
|
|
|
|
|
825,148
|
|
714,424
|
||||
|
|
|
|
|
|
|
|
|
||||
The accompanying
notes are integral to the condensed interim consolidated financial
statements
|
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN
EQUITY
|
||||||||
(Unaudited -
Expressed in thousands of CAD dollars)
|
||||||||
|
|
|
|
Three
Months Ended
March
31
|
||||
|
|
|
|
|
|
2022
|
|
2021
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share capital (note 17)
|
|
|
|
|
|
|
|
|
Balance-beginning
of period
|
|
|
|
|
$
|
1,517,029
|
$
|
1,366,710
|
Shares issued for
cash, net of issue costs
|
|
|
|
|
|
8,241
|
|
134,083
|
Other shares
issued, net of issue costs
|
|
|
|
|
|
39
|
|
-
|
Share options
exercised-cash
|
|
|
|
|
|
688
|
|
3,711
|
Share options
exercised-transfer from contributed surplus
|
|
|
|
254
|
|
1,266
|
||
Share units
exercised-transfer from contributed surplus
|
|
|
|
143
|
|
167
|
||
Balance-end of
period
|
|
|
|
|
|
1,526,394
|
|
1,505,937
|
|
|
|
|
|
|
|
|
|
Contributed surplus
|
|
|
|
|
|
|
|
|
Balance-beginning
of period
|
|
|
|
|
|
67,496
|
|
67,387
|
Share-based
compensation expense (note 18)
|
|
|
|
|
|
930
|
|
375
|
Share options
exercised-transfer to share capital
|
|
|
|
|
|
(254)
|
|
(1,266)
|
Share units
exercised-transfer to share capital
|
|
|
|
|
|
(143)
|
|
(167)
|
Balance-end of
period
|
|
|
|
|
|
68,029
|
|
66,329
|
|
|
|
|
|
|
|
|
|
Deficit
|
|
|
|
|
|
|
|
|
Balance-beginning
of period
|
|
|
|
|
|
(1,189,610)
|
|
(1,208,587)
|
Net income
(loss)
|
|
|
|
|
|
42,623
|
|
(8,884)
|
Balance-end of
period
|
|
|
|
|
|
(1,146,987)
|
|
(1,217,471)
|
|
|
|
|
|
|
|
|
|
Accumulated other comprehensive income (note 19)
|
|
|
|
|
|
|
||
Balance-beginning
of period
|
|
|
|
|
|
1,776
|
|
1,775
|
Foreign currency
translation
|
|
|
|
|
|
3
|
|
3
|
Balance-end of
period
|
|
|
|
|
|
1,779
|
|
1,778
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Equity
|
|
|
|
|
|
|
|
|
Balance-beginning
of period
|
|
|
|
|
|
396,691
|
|
227,285
|
Balance-end of
period
|
|
|
|
|
$
|
449,215
|
$
|
356,573
|
|
|
|
|
|
|
|
|
|
The accompanying
notes are integral to the condensed interim consolidated financial
statements
|
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOW
|
||||||||
(Unaudited -
Expressed in thousands of CAD dollars)
|
||||||||
|
|
|
|
Three
Months Ended
March
31
|
||||
CASH PROVIDED BY (USED IN):
|
|
|
|
|
|
2022
|
|
2021
|
|
|
|
|
|
|
|
|
|
OPERATING ACTIVITIES
|
|
|
|
|
|
|
|
|
Net income (loss)
for the period
|
|
|
|
|
$
|
42,623
|
$
|
(8,884)
|
Adjustments and
Items not affecting cash and cash equivalents:
|
|
|
|
|
|
|
|
|
Depletion,
depreciation, amortization and accretion
|
|
|
|
|
|
1,674
|
|
1,294
|
Fair value
change losses (gains):
|
|
|
|
|
|
|
||
Investments-equity
instruments (notes 7 and 20)
|
|
|
|
(4,275)
|
|
91
|
||
Investments-uranium
(notes 7 and 20)
|
|
|
|
(47,756)
|
|
-
|
||
Warrants on
investment (notes 7 and 20)
|
|
|
|
1,138
|
|
-
|
||
Share
purchase warrant liabilities (notes 15 and 20)
|
|
|
|
484
|
|
1,564
|
||
Joint
venture-equity share of loss (note 8)
|
|
|
|
492
|
|
-
|
||
Recognition
of deferred revenue (note 12)
|
|
|
|
(2,471)
|
|
(137)
|
||
Post-employment
benefit payments (note 13)
|
|
|
|
(48)
|
|
(48)
|
||
Reclamation
obligation expenditures (note 14)
|
|
|
|
(264)
|
|
(262)
|
||
Share-based
compensation (note 18)
|
|
|
|
930
|
|
375
|
||
Foreign exchange
losses (gains) (note 20)
|
|
|
|
|
|
200
|
|
(441)
|
Warrant
liabilities issue costs expensed
|
|
|
|
|
|
-
|
|
789
|
Deferred income
tax recovery
|
|
|
|
|
|
(536)
|
|
(308)
|
Change in
non-cash working capital items (note 20)
|
|
|
|
|
|
4,341
|
|
3,984
|
Net
cash used in operating activities
|
|
|
|
|
|
(3,468)
|
|
(1,983)
|
|
|
|
|
|
|
|
|
|
INVESTING ACTIVITIES
|
|
|
|
|
|
|
|
|
Additions of
property, plant and equipment (note 10)
|
|
|
|
(2,995)
|
|
(293)
|
||
Increase
in restricted cash and investments
|
|
|
|
(985)
|
|
(578)
|
||
Net
cash used in investing activities
|
|
|
|
|
|
(3,980)
|
|
(871)
|
|
|
|
|
|
|
|
|
|
FINANCING ACTIVITIES
|
|
|
|
|
|
|
|
|
Issuance of debt
obligations (note 16)
|
|
|
|
|
|
72
|
|
-
|
Repayment
of debt obligations (note 16)
|
|
|
|
|
|
(60)
|
|
(59)
|
Proceeds
from unit issues, net of issue costs (note 17)
|
|
|
|
-
|
|
135,660
|
||
Proceeds
from share issues, net of issue costs (note 17)
|
|
|
|
|
|
8,241
|
|
10,868
|
Proceeds
from share options exercised (note 17)
|
|
|
|
|
|
688
|
|
3,711
|
Net
cash provided by financing activities
|
|
|
|
|
|
8,941
|
|
150,180
|
|
|
|
|
|
|
|
|
|
Increase
in cash and cash equivalents
|
|
|
|
|
|
1,493
|
|
147,326
|
Foreign
exchange effect on cash and cash equivalents
|
|
|
|
|
|
(201)
|
|
439
|
Cash
and cash equivalents, beginning of period
|
|
|
|
|
|
63,998
|
|
24,992
|
Cash
and cash equivalents, end of period
|
|
|
|
|
$
|
65,290
|
$
|
172,757
|
|
||||||||
The accompanying
notes are integral to the condensed interim consolidated financial
statements
|
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
FOR THE THREE MONTHS ENDED MARCH 31, 2022
|
|
(Unaudited -
Expressed in CAD dollars except for shares and per share
amounts)
|
|
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
|
|
At March
31
|
|
At December
31
|
(in
thousands)
|
|
|
|
2022
|
|
2021
|
|
|
|
|
|
|
|
Cash
|
|
|
$
|
1,747
|
$
|
2,002
|
Cash in MLJV and
MWJV
|
|
|
|
1,205
|
|
1,275
|
Cash
equivalents
|
|
|
|
62,338
|
|
60,721
|
|
|
|
$
|
65,290
|
$
|
63,998
|
|
|
|
|
At March
31
|
|
At December
31
|
|
(in
thousands)
|
|
|
|
2022
|
|
2021
|
|
|
|
|
|
|
|
|
|
Trade
receivables
|
|
|
$
|
2,630
|
$
|
2,866
|
|
Receivables in
MLJV and MWJV
|
|
|
|
307
|
|
533
|
|
Sales tax
receivables
|
|
|
|
224
|
|
255
|
|
Sundry
receivables
|
|
|
|
3
|
|
2
|
|
|
|
|
$
|
3,164
|
$
|
3,656
|
|
|
|
|
At March
31
|
|
At December
31
|
(in
thousands)
|
|
|
|
2022
|
|
2021
|
|
|
|
|
|
|
|
Uranium
concentrates
|
|
|
$
|
440
|
$
|
451
|
Inventory of ore
in stockpiles
|
|
|
|
2,098
|
|
2,098
|
Mine and mill
supplies in MLJV
|
|
|
|
2,831
|
|
3,003
|
|
|
|
$
|
5,369
|
$
|
5,552
|
|
|
|
|
|
|
|
Inventories-by
balance sheet presentation:
|
|
|
|
|
|
|
Current
|
|
|
$
|
3,271
|
$
|
3,454
|
Long-term-ore in
stockpiles
|
|
|
|
2,098
|
|
2,098
|
|
|
|
$
|
5,369
|
$
|
5,552
|
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
|
|
At March
31
|
|
At December
31
|
(in
thousands)
|
|
|
|
2022
|
|
2021
|
|
|
|
|
|
|
|
Investments:
|
|
|
|
|
|
|
Equity
instruments
|
|
|
|
|
|
|
Shares
|
|
|
$
|
18,461
|
$
|
14,349
|
Warrants
|
|
|
|
392
|
|
229
|
Uranium
|
|
|
|
180,870
|
|
133,114
|
|
|
|
$
|
199,723
|
$
|
147,692
|
|
|
|
|
|
|
|
Investments-by
balance sheet presentation:
|
|
|
|
|
|
|
Current
|
|
|
$
|
18,615
|
$
|
14,437
|
Long-term
|
|
|
|
181,108
|
|
133,255
|
|
|
|
$
|
199,723
|
$
|
147,692
|
(in
thousands)
|
|
Equity
Instruments
|
|
Physical
Uranium
|
|
Total
Investments
|
|
|
|
|
|
|
|
Balance–December 31,
2021
|
$
|
14,578
|
$
|
133,114
|
$
|
147,692
|
Fair value gain
to profit and loss (note 20)
|
|
4,275
|
|
47,756
|
|
52,031
|
Balance–March
31, 2022
|
$
|
18,853
|
$
|
180,870
|
$
|
199,723
|
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
|
Number
of
|
|
Warrant
|
(in thousands
except warrant amounts)
|
Warrants
|
|
Liability
|
|
|
|
|
Balance–December 31,
2021
|
32,500,000
|
$
|
1,625
|
Change in fair
value (note 20)
|
-
|
|
1,138
|
Balance–March 31,
2022
|
32,500,000
|
$
|
2,763
|
|
|
|
|
At March
31
|
|
At December
31
|
(in
thousands)
|
|
|
|
2022
|
|
2021
|
|
|
|
|
|
|
|
Investment in
joint venture-by investee:
|
|
|
|
|
|
|
JCU
|
|
|
$
|
20,900
|
$
|
21,392
|
|
|
|
$
|
20,900
|
$
|
21,392
|
(in
thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance-December
31, 2021
|
|
|
|
|
$
|
21,392
|
Equity share of
loss
|
|
|
|
|
|
(492)
|
Balance-March 31,
2022
|
|
|
|
|
$
|
20,900
|
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
|
|
At March
31
|
|
At December
31,
|
(in
thousands)
|
|
|
|
2022
|
|
2021
|
|
|
|
|
|
|
|
Total current
assets(1)
|
|
|
$
|
4,551
|
$
|
4,851
|
Total non-current
assets
|
|
|
|
38,067
|
|
38,067
|
Total current
liabilities
|
|
|
|
(818)
|
|
(134)
|
Total non-current
liabilities
|
|
|
|
-
|
|
-
|
Total net
assets
|
|
|
$
|
41,800
|
$
|
42,784
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Month
Ended
March 31, 2022(2)
|
|
|
|
||||
|
|
|
|
|
|
|
Revenue
|
|
|
|
|
$
|
-
|
Net
loss
|
|
|
|
|
|
(984)
|
Other
comprehensive income
|
|
|
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of
JCU net assets to Denison investment carrying value:
|
|
|
||||
Adjusted
net assets of JCU–at December 31, 2021
|
|
|
$
|
42,784
|
||
Net
loss
|
|
|
|
|
|
(984)
|
Adjusted net
assets of JCU–at March 31, 2022
|
|
|
|
|
$
|
41,800
|
Denison ownership
interest
|
|
|
|
|
|
50.00%
|
Denison share of
adjusted net assets of JCU
|
|
|
|
|
|
20,900
|
Investment in
JCU
|
|
|
|
|
$
|
20,900
|
|
|
|
|
At March
31
|
|
At December
31
|
(in
thousands)
|
|
|
|
2022
|
|
2021
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
|
$
|
3,851
|
$
|
2,866
|
Investments
|
|
|
|
9,135
|
|
9,135
|
|
|
|
$
|
12,986
|
$
|
12,001
|
Restricted cash
and investments-by item:
|
|
|
|
|
|
|
Elliot Lake
reclamation trust fund
|
|
|
$
|
3,851
|
$
|
2,866
|
Letters of credit
facility pledged assets
|
|
|
|
9,000
|
|
9,000
|
Letters of credit
additional collateral
|
|
|
|
135
|
|
135
|
|
|
|
$
|
12,986
|
$
|
12,001
|
INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
Plant
and Equipment
|
|
Mineral
|
|
Total
|
||
(in
thousands)
|
|
Owned
|
|
Right-of-Use
|
|
Properties
|
|
PP&E
|
|
|
|
|
|
|
|
|
|
Cost:
|
|
|
|
|
|
|
|
|
Balance–December 31,
2021
|
$
|
105,683
|
$
|
953
|
$
|
179,788
|
$
|
286,424
|
Additions
|
|
2,983
|
|
39
|
|
11
|
|
3,033
|
Reclamation–Adjustment
(note 14)
|
|
(3,303)
|
|
-
|
|
-
|
|
(3,303)
|
Balance–March
31, 2022
|
$
|
105,363
|
$
|
992
|
$
|
179,799
|
$
|
286,154
|
|
|
|
|
|
|
|
|
|
Accumulated
amortization, depreciation:
|
|
|
|
|
|
|
|
|
Balance–December 31,
2021
|
$
|
(31,420)
|
$
|
(542)
|
$
|
-
|
$
|
(31,962)
|
Amortization
|
|
(46)
|
|
-
|
|
-
|
|
(46)
|
Depreciation
|
|
(725)
|
|
(44)
|
|
-
|
|
(769)
|
Balance–March
31, 2022
|
$
|
(32,191)
|
$
|
(586)
|
$
|
-
|
$
|
(32,777)
|
|
|
|
|
|
|
|
|
|
Carrying
value:
|
|
|
|
|
|
|
|
|
Balance–December 31,
2021
|
$
|
74,263
|
$
|
411
|
$
|
179,788
|
$
|
254,462
|
Balance–March 31,
2022
|
$
|
73,172
|
$
|
406
|
$
|
179,799
|
$
|
253,377
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
|
|
At March
31
|
|
At December
31
|
|
(in
thousands)
|
|
|
|
2022
|
|
2021
|
|
|
|
|
|
|
|
|
|
Trade
payables
|
|
|
$
|
5,783
|
$
|
3,179
|
|
Payables in MLJV
and MWJV
|
|
|
|
4,116
|
|
4,316
|
|
Other
payables
|
|
|
|
2,717
|
|
1,095
|
|
|
|
|
$
|
12,616
|
$
|
8,590
|
|
|
|
|
At March
31
|
|
At December
31
|
(in
thousands)
|
|
|
|
2022
|
|
2021
|
|
|
|
|
|
|
|
Deferred
revenue–pre-sold toll milling:
|
|
|
|
|
|
|
CLJV toll
milling–APG
|
|
|
$
|
34,479
|
$
|
36,508
|
|
|
|
$
|
34,479
|
$
|
36,508
|
|
|
|
|
|
|
|
Deferred
revenue-by balance sheet presentation:
|
|
|
|
|
|
|
Current
|
|
|
$
|
4,171
|
$
|
4,656
|
Non-current
|
|
|
|
30,308
|
|
31,852
|
|
|
|
$
|
34,479
|
$
|
36,508
|
(in
thousands)
|
|
|
|
|
|
Deferred
Revenue
|
|
|
|
|
|
|
|
Balance–December 31,
2021
|
|
|
|
|
$
|
36,508
|
Accretion (note
20)
|
|
|
|
|
|
442
|
Revenue
recognized during the period (note 21)
|
|
|
|
|
|
(2,471)
|
Balance–March
31, 2022
|
|
|
|
|
$
|
34,479
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
|
|
At March
31
|
|
At December
31
|
(in
thousands)
|
|
|
|
2022
|
|
2021
|
|
|
|
|
|
|
|
Accrued benefit
obligation
|
|
|
$
|
1,231
|
$
|
1,274
|
|
|
|
$
|
1,231
|
$
|
1,274
|
|
|
|
|
|
|
|
Post-employment
benefits-by balance sheet presentation:
|
|
|
|
|
||
Current
|
|
|
$
|
120
|
$
|
120
|
Non-current
|
|
|
|
1,111
|
|
1,154
|
|
|
|
$
|
1,231
|
$
|
1,274
|
(in
thousands)
|
|
|
|
|
|
Post-Employment
Benefits
|
|
|
|
|
|
|
|
Balance–December 31,
2021
|
|
|
|
|
$
|
1,274
|
Accretion (note
20)
|
|
|
|
|
|
5
|
Benefits
paid
|
|
|
|
|
|
(48)
|
Balance–March
31, 2022
|
|
|
|
|
$
|
1,231
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
|
|
At March
31
|
|
At December
31
|
(in
thousands)
|
|
|
|
2022
|
|
2021
|
|
|
|
|
|
|
|
Reclamation
obligations-by location:
|
|
|
|
|
|
|
Elliot
Lake
|
|
|
$
|
20,826
|
$
|
20,877
|
McClean and
Midwest Joint Ventures
|
|
|
|
12,234
|
|
15,405
|
Other
|
|
|
|
1,262
|
|
1,250
|
|
|
|
$
|
34,322
|
$
|
37,532
|
|
|
|
|
|
|
|
Reclamation
obligations-by balance sheet presentation:
|
|
|
|
|
||
Current
|
|
|
$
|
1,181
|
$
|
1,181
|
Non-current
|
|
|
|
33,141
|
|
36,351
|
|
|
|
$
|
34,322
|
$
|
37,532
|
(in
thousands)
|
|
|
|
|
|
Reclamation
Obligations
|
|
|
|
|
|
|
|
Balance–December
31, 2021
|
|
|
|
|
$
|
37,532
|
Accretion (note
20)
|
|
|
|
|
|
357
|
MLJV site
restoration–adjustment
|
|
|
|
|
|
(3,303)
|
Expenditures
incurred
|
|
|
|
|
|
(264)
|
Balance–March
31, 2022
|
|
|
|
|
$
|
34,322
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
|
Number
of
|
|
Warrant
|
(in thousands
except warrant amounts)
|
Warrants
|
|
Liability
|
|
|
|
|
Balance–December 31,
2021
|
55,006,475
|
$
|
20,337
|
Change in fair
value estimates (note 20)
|
-
|
|
484
|
Balance–March 31,
2022
|
55,006,475
|
$
|
20,821
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
|
|
At March
31
|
|
At December
31
|
(in
thousands)
|
|
|
|
2022
|
|
2021
|
|
|
|
|
|
|
|
Debt
obligations:
|
|
|
|
|
|
|
Lease
obligations
|
|
|
$
|
436
|
$
|
452
|
Loan
obligations
|
|
|
|
132
|
|
56
|
|
|
|
$
|
568
|
$
|
508
|
|
|
|
|
|
|
|
Other
liabilities-by balance sheet presentation:
|
|
|
|
|
||
Current
|
|
|
$
|
186
|
$
|
179
|
Non-current
|
|
|
|
382
|
|
329
|
|
|
|
$
|
568
|
$
|
508
|
|
|
|
Lease
|
|
Loan
|
|
Total
Debt
|
||
(in
thousands)
|
|
|
|
Liabilities
|
|
Liabilities
|
|
Obligations
|
|
|
|
|
|
|
|
|
|
|
|
Balance–December
31, 2021
|
|
|
$
|
452
|
$
|
56
|
$
|
508
|
|
Accretion (note
20)
|
|
|
|
9
|
|
-
|
|
9
|
|
Additions
|
|
|
|
29
|
|
82
|
|
111
|
|
Repayments
|
|
|
|
(54)
|
|
(6)
|
|
(60)
|
|
Balance–March
31, 2022
|
|
|
$
|
436
|
$
|
132
|
$
|
568
|
|
|
|
Lease
|
|
Loan
|
|
Total
Debt
|
||
(in
thousands)
|
|
|
|
Liabilities
|
|
Liabilities
|
|
Obligations
|
|
|
|
|
|
|
|
|
|
|
|
Maturity
analysis–contractual undiscounted cash flows:
|
|
|
|
|
|
|
|||
Next 12
months
|
|
|
$
|
150
|
$
|
35
|
$
|
185
|
|
One to five
years
|
|
|
|
348
|
|
109
|
|
457
|
|
More than five
years
|
|
|
|
-
|
|
-
|
|
-
|
|
Total
obligation–March 31, 2022–undiscounted
|
|
498
|
|
144
|
|
642
|
|||
Present value
discount adjustment
|
|
|
|
(62)
|
|
(12)
|
|
(74)
|
|
Total
obligation–March 31, 2022–discounted
|
|
|
$
|
436
|
$
|
132
|
$
|
568
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
|
Number
of
|
|
|
|
Common
|
|
Share
|
(in thousands
except share amounts)
|
Shares
|
|
Capital
|
|
|
|
|
Balance–December 31,
2021
|
812,429,995
|
$
|
1,517,029
|
Issued for
cash:
|
|
|
|
Shares issued for
cash–total
|
4,149,600
|
|
8,412
|
Less: share issue
costs
|
-
|
|
(171)
|
Other share
issue–total
|
30,797
|
|
49
|
Less: other share
issue costs
|
-
|
|
(10)
|
Share option
exercises
|
978,000
|
|
688
|
Share option
exercises–transfer from contributed surplus
|
-
|
|
254
|
Share unit
exercises–transfer from contributed surplus
|
178,585
|
|
143
|
|
5,336,982
|
|
9,365
|
Balance–March 31,
2022
|
817,766,977
|
$
|
1,526,394
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
|
|
Three
Months Ended
March
31
|
||||
(in
thousands)
|
|
|
|
|
|
2022
|
|
2021
|
|
|
|
|
|
|
|
|
|
Share based
compensation expense for:
|
|
|
|
|
|
|
|
|
Share
options
|
|
|
|
|
$
|
(389)
|
$
|
(157)
|
RSUs
|
|
|
|
|
|
(499)
|
|
(228)
|
PSUs
|
|
|
|
|
|
(42)
|
|
(98)
|
Share
based compensation expense
|
|
|
|
|
$
|
(930)
|
$
|
(483)
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
|
|
|
|
|
|
|
Weighted-
|
|
|
|
|
|
|
|
|
|
Average
|
|
|
|
|
|
|
|
|
|
Exercise
|
|
|
|
|
|
|
|
Number
of
|
|
Price
per
|
|
|
|
|
|
|
|
Common
|
|
Share
|
|
|
|
|
|
|
|
Shares
|
|
(CAD)
|
|
|
|
|
|
|
|
|
|
|
Share options
outstanding–December 31, 2021
|
|
|
|
9,449,895
|
$
|
0.86
|
|||
Grants
|
|
|
|
|
|
|
1,564,000
|
|
1.84
|
Exercises
(1)
|
|
|
|
|
|
|
(978,000)
|
|
0.70
|
Expiries
|
|
|
|
|
|
|
(26,000)
|
|
0.85
|
Forfeitures
|
|
|
|
|
|
|
(261,000)
|
|
1.09
|
Share options
outstanding–March 31, 2022
|
|
|
|
9,748,895
|
$
|
1.03
|
|||
Share options
exercisable–March 31, 2022
|
|
|
|
6,129,395
|
$
|
0.72
|
|
|
|
|
|
Weighted
|
|
|
|
Weighted-
|
|
|
|
|
|
Average
|
|
|
|
Average
|
|
|
|
|
|
Remaining
|
|
|
|
Exercise
|
Range of
Exercise
|
|
|
|
|
Contractual
|
|
Number
of
|
|
Price
per
|
Prices per
Share
|
|
|
|
|
Life
|
|
Common
|
|
Share
|
(CAD)
|
|
|
|
|
(Years)
|
|
Shares
|
|
(CAD)
|
|
|
|
|
|
|
|
|
|
|
Share options
outstanding
|
|
|
|
|
|
|
|||
$ 0.25 to $
0.49
|
|
2.96
|
|
1,882,500
|
$
|
0.45
|
|||
$ 0.50 to $
0.74
|
|
|
|
|
1.44
|
|
2,916,895
|
|
0.64
|
$ 0.75 to $
0.99
|
|
|
|
|
-
|
|
-
|
|
-
|
$ 1.00 to $
1.49
|
|
|
|
|
3.97
|
|
3,281,500
|
|
1.28
|
$ 1.50 to $
1.99
|
|
|
|
|
4.94
|
|
1,552,000
|
|
1.84
|
$ 2.00 to $
2.49
|
|
|
|
|
4.66
|
|
116,000
|
|
2.27
|
Stock options
outstanding–March 31, 2022
|
|
|
3.18
|
|
9,748,895
|
$
|
1.03
|
|
|
|
|
Three Months
Ended
|
|
|
|
|
|
March 31,
2022
|
|
|
|
|
|
|
|
Risk-free
interest rate
|
|
|
|
1.44% -
1.77%
|
|
Expected stock
price volatility
|
|
|
|
74.56% -
74.72%
|
|
Expected
life
|
|
|
|
3.4
years
|
|
Expected dividend
yield
|
|
|
|
-
|
|
Fair value
per share under options granted
|
|
|
$0.96 -
$1.10
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
RSUs
|
|
PSUs
|
|||||
|
|
|
|
Weighted
|
|
|
|
Weighted
|
|
|
|
|
|
Average
|
|
|
|
Average
|
|
|
|
Number
of
|
|
Fair
Value
|
|
Number
of
|
|
Fair
Value
|
|
|
|
Common
|
|
Per
RSU
|
|
Common
|
|
Per
PSU
|
|
|
|
Shares
|
|
(CAD)
|
|
Shares
|
|
(CAD)
|
|
|
|
|
|
|
|
|
|
|
|
Units
outstanding–December 31, 2021
|
|
5,801,841
|
$
|
0.80
|
|
1,530,000
|
$
|
0.62
|
|
Grants
|
|
1,242,000
|
|
2.08
|
|
120,000
|
|
2.08
|
|
Exercises
(1)
|
|
(178,585)
|
|
0.87
|
|
-
|
|
-
|
|
Forfeitures
|
|
(144,500)
|
|
1.10
|
|
-
|
|
-
|
|
Units
outstanding–March 31, 2022
|
|
6,720,756
|
$
|
1.06
|
|
1,650,000
|
$
|
0.72
|
|
Units
vested–March 31, 2022
|
|
3,333,760
|
$
|
0.67
|
|
870,000
|
$
|
0.63
|
|
|
|
|
At March
31
|
|
At December
31
|
(in
thousands)
|
|
|
|
2022
|
|
2021
|
|
|
|
|
|
|
|
Cumulative
foreign currency translation
|
|
|
$
|
417
|
$
|
414
|
Experience
gain-post employment liability
|
|
|
|
|
||
Gross
|
|
|
|
1,847
|
|
1,847
|
Tax
effect
|
|
|
|
(485)
|
|
(485)
|
|
|
|
$
|
1,779
|
$
|
1,776
|
|
|
|
|
Three
Months Ended
March
31
|
||||
(in
thousands)
|
|
|
|
|
|
2022
|
|
2021
|
|
|
|
|
|
|
|
|
|
Cost of goods and
services sold:
|
|
|
|
|
|
|
|
|
Operating
overheads:
|
|
|
|
|
|
|
|
|
Mining, other
development expense
|
|
|
|
|
|
(72)
|
|
(232)
|
Milling,
conversion expense
|
|
|
|
|
|
(635)
|
|
(4)
|
Less
absorption:
|
|
|
|
|
|
|
|
|
-Mineral
properties
|
|
|
|
|
|
11
|
|
11
|
-Milling
|
|
|
|
|
|
-
|
|
-
|
Cost of
services-Closed Mines Services
|
|
|
|
|
|
(1,656)
|
|
(1,593)
|
Cost of goods and
services sold
|
|
|
|
|
|
(2,352)
|
|
(1,818)
|
Reclamation asset
amortization
|
|
|
|
|
|
(46)
|
|
(70)
|
Operating
expenses
|
|
|
|
|
$
|
(2,398)
|
$
|
(1,888)
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
|
|
Three
Months Ended
March
31
|
||||
(in
thousands)
|
|
|
|
|
|
2022
|
|
2021
|
|
|
|
|
|
|
|
|
|
Gains (losses)
on:
|
|
|
|
|
|
|
|
|
Foreign
exchange
|
|
|
|
|
$
|
(200)
|
$
|
441
|
Fair value
changes:
|
|
|
|
|
|
|
|
|
Investments-equity
instruments (note 7)
|
|
|
|
|
|
4,275
|
|
(91)
|
Investments-uranium (note
7)
|
|
|
|
|
|
47,756
|
|
-
|
Warrants on
investment (note 7)
|
|
|
|
|
|
(1,138)
|
|
-
|
Share purchase
warrant liabilities (note 15)
|
|
|
|
|
|
(484)
|
|
(1,564)
|
Gain
on recognition of proceeds–UI
repayment received (note 24)
|
|
2,586
|
|
-
|
||||
Issue
costs–share purchase warrant liabilities (note
17)
|
|
|
|
-
|
|
(789)
|
||
Uranium
investment carrying charges
|
|
|
|
|
|
(78)
|
|
-
|
Other
|
|
|
|
|
|
(72)
|
|
(38)
|
Other
income (expense)
|
|
|
|
|
$
|
52,645
|
$
|
(2,041)
|
|
|
|
|
Three
Months Ended
March
31
|
||||
(in
thousands)
|
|
|
|
|
|
2022
|
|
2021
|
|
|
|
|
|
|
|
|
|
Interest
income
|
|
|
|
|
$
|
116
|
$
|
83
|
Interest
expense
|
|
|
|
|
|
(1)
|
|
-
|
Accretion
expense
|
|
|
|
|
|
|
|
|
Deferred
revenue (note 12)
|
|
|
|
|
|
(442)
|
|
(754)
|
Post-employment
benefits (note 13)
|
|
|
|
|
|
(5)
|
|
(6)
|
Reclamation
obligations (note 14)
|
|
|
|
|
|
(357)
|
|
(336)
|
Debt
obligations (note 16)
|
|
|
|
|
|
(9)
|
|
(12)
|
Finance
income (expense)
|
|
|
|
|
$
|
(698)
|
$
|
(1,025)
|
|
|
|
|
Three
Months Ended
March
31
|
||||
(in
thousands)
|
|
|
|
|
|
2022
|
|
2021
|
|
|
|
|
|
|
|
|
|
Operating
expenses
|
|
|
|
|
|
|
|
|
Mining, other
development expense
|
|
|
|
|
$
|
(1)
|
$
|
(1)
|
Milling,
conversion expense
|
|
|
|
|
|
(624)
|
|
-
|
Cost of
services
|
|
|
|
|
|
(44)
|
|
(45)
|
Evaluation
|
|
|
|
|
|
(33)
|
|
(9)
|
Exploration
|
|
|
|
|
|
(25)
|
|
(30)
|
General and
administrative
|
|
|
|
|
|
(42)
|
|
(25)
|
Depreciation
expense-gross
|
|
|
|
|
$
|
(769)
|
$
|
(110)
|
|
|
|
|
Three
Months Ended
March
31
|
||||
(in
thousands)
|
|
|
|
|
|
2022
|
|
2021
|
|
|
|
|
|
|
|
|
|
Salaries and
short-term employee benefits
|
|
|
|
|
$
|
(3,882)
|
$
|
(3,035)
|
Share-based
compensation (note 18)
|
|
|
|
|
|
(930)
|
|
(375)
|
Termination
benefits
|
|
|
|
|
|
-
|
|
(28)
|
Employee
benefits expense
|
|
|
|
|
$
|
(4,812)
|
$
|
(3,438)
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
|
|
Three
Months Ended
March
31
|
||||
(in
thousands)
|
|
|
|
|
|
2022
|
|
2021
|
|
|
|
|
|
|
|
|
|
Change in
non-cash working capital items:
|
|
|
|
|
|
|
|
|
Trade and other
receivables
|
|
|
|
|
$
|
492
|
$
|
615
|
Inventories
|
|
|
|
|
|
183
|
|
(109)
|
Prepaid expenses
and other assets
|
|
|
|
|
|
(363)
|
|
609
|
Accounts payable
and accrued liabilities
|
|
|
|
|
|
4,029
|
|
2,869
|
Change
in non-cash working capital items
|
|
|
|
|
$
|
4,341
|
$
|
3,984
|
(in
thousands)
|
|
|
Mining
|
Closed
Mine
Services
|
Corporate
and
Other
|
Total
|
|
|
|
|
|
|
|
Statement of Operations:
|
|
|
|
|
|
|
Revenues
|
|
|
2,471
|
1,654
|
-
|
4,125
|
|
|
|
|
|
|
|
Expenses:
|
|
|
|
|
|
|
Operating
expenses
|
|
|
(725)
|
(1,656)
|
(17)
|
(2,398)
|
Evaluation
|
|
|
(4,465)
|
-
|
-
|
(4,465)
|
Exploration
|
|
|
(2,566)
|
-
|
-
|
(2,566)
|
General and
administrative
|
|
|
(14)
|
-
|
(4,050)
|
(4,064)
|
|
|
|
(7,770)
|
(1,656)
|
(4,067)
|
(13,493)
|
Segment income
(loss)
|
|
|
(5,299)
|
(2)
|
(4,067)
|
(9,368)
|
|
|
|
|
|
|
|
Revenues–supplemental:
|
|
|
|
|
|
|
Environmental
services
|
|
|
-
|
1,654
|
-
|
1,654
|
Toll milling
services–deferred revenue (note 12)
|
|
2,471
|
-
|
-
|
2,471
|
|
|
|
|
2,471
|
1,654
|
-
|
4,125
|
|
|
|
|
|
|
|
Capital additions:
|
|
|
|
|
|
|
Property, plant
and equipment
|
|
|
146
|
13
|
2,874
|
3,033
|
|
|
|
|
|
|
|
Long-lived assets:
|
|
|
|
|
|
|
Plant and
equipment
|
|
|
|
|
|
|
Cost
|
|
|
98,017
|
4,195
|
4,143
|
106,355
|
Accumulated
depreciation
|
|
|
(29,270)
|
(2,952)
|
(555)
|
(32,777)
|
Mineral
properties
|
|
|
179,799
|
-
|
-
|
179,799
|
|
|
|
248,546
|
1,243
|
3,588
|
253,377
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
(in
thousands)
|
|
|
Mining
|
Closed
Mine
Services
|
Corporate
and
Other
|
Total
|
|
|
|
|
|
|
|
Statement of Operations:
|
|
|
|
|
|
|
Revenues
|
|
|
137
|
1,744
|
615
|
2,496
|
|
|
|
|
|
|
|
Expenses:
|
|
|
|
|
|
|
Operating
expenses
|
|
|
(295)
|
(1,593)
|
-
|
(1,888)
|
Evaluation
|
|
|
(2,761)
|
-
|
-
|
(2,761)
|
Exploration
|
|
|
(1,348)
|
-
|
-
|
(1,348)
|
General and
administrative
|
|
|
(17)
|
-
|
(2,608)
|
(2,625)
|
|
|
|
(4,421)
|
(1,593)
|
(2,608)
|
(8,622)
|
Segment income
(loss)
|
|
|
(4,284)
|
151
|
(1,993)
|
(6,126)
|
|
|
|
|
|
|
|
Revenues–supplemental:
|
|
|
|
|
|
|
Environmental
services
|
|
|
-
|
1,744
|
-
|
1,744
|
Management
fees
|
|
|
-
|
-
|
615
|
615
|
Toll milling
services–deferred revenue (note 12)
|
|
137
|
-
|
-
|
137
|
|
|
|
|
137
|
1,744
|
615
|
2,496
|
|
|
|
|
|
|
|
Capital additions:
|
|
|
|
|
|
|
Property, plant
and equipment
|
|
|
293
|
-
|
-
|
293
|
|
|
|
|
|
|
|
Long-lived assets:
|
|
|
|
|
|
|
Plant and
equipment
|
|
|
|
|
|
|
Cost
|
|
|
101,823
|
4,545
|
892
|
107,260
|
Accumulated
depreciation
|
|
|
(26,351)
|
(3,238)
|
(442)
|
(30,031)
|
Mineral
properties
|
|
|
179,754
|
-
|
-
|
179,754
|
|
|
|
255,226
|
1,307
|
450
|
256,983
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
|
|
Three
Months Ended
March
31
|
||||
(in
thousands)
|
|
|
|
|
|
2022
|
|
2021
|
|
|
|
|
|
|
|
|
|
Management
fees:
|
|
|
|
|
|
|
|
|
Base and variable
fees
|
|
|
|
|
$
|
-
|
$
|
475
|
Commission
fees
|
|
|
|
|
|
-
|
|
-
|
Discretionary
fees
|
|
|
|
|
|
-
|
|
140
|
|
|
|
|
|
$
|
-
|
$
|
615
|
|
|
|
|
Three
Months Ended
March
31
|
||||
(in
thousands)
|
|
|
|
|
|
2022
|
|
2021
|
|
|
|
|
|
|
|
|
|
Salaries and
short-term employee benefits
|
|
|
|
|
$
|
(1,623)
|
$
|
(1,043)
|
Share-based
compensation
|
|
|
|
|
|
(823)
|
|
(320)
|
Key
management personnel compensation
|
|
|
|
|
$
|
(2,446)
|
$
|
(1,363)
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|
|
|
|
|
|
|
March
31
|
|
December
31,
|
|
|
Financial
|
|
Fair
|
|
2022
|
|
2021
|
|
|
Instrument
|
|
Value
|
|
Fair
|
|
Fair
|
(in
thousands)
|
|
Category(1)
|
|
Hierarchy
|
|
Value
|
|
Value
|
|
|
|
|
|
|
|
|
|
Financial
Assets:
|
|
|
|
|
|
|
|
|
Cash and
equivalents
|
|
Category
B
|
|
|
$
|
65,290
|
$
|
63,998
|
Trade and other
receivables
|
|
Category
B
|
|
|
|
3,164
|
|
3,656
|
Investments
|
|
|
|
|
|
|
|
|
Equity
instruments-shares
|
|
Category
A
|
|
Level
1
|
|
18,461
|
|
14,349
|
Equity
instruments-warrants
|
|
Category
A
|
|
Level
2
|
|
392
|
|
229
|
Elliot Lake
reclamation trust fund
|
|
Category
B
|
|
|
|
3,851
|
|
2,866
|
Credit
facility pledged assets
|
|
Category
B
|
|
|
|
9,000
|
|
9,000
|
Reclamation
letter of credit collateral
|
|
Category
B
|
|
|
|
135
|
|
135
|
|
|
|
|
|
$
|
100,293
|
$
|
94,233
|
|
|
|
|
|
|
|
|
|
Financial
Liabilities:
|
|
|
|
|
|
|
|
|
Accounts
payable and accrued liabilities
|
|
Category
C
|
|
|
|
12,616
|
|
8,590
|
Debt
obligations
|
|
Category
C
|
|
|
|
568
|
|
508
|
Warrants on
investment
|
|
Category
A
|
|
Level
2
|
|
2,763
|
|
1,625
|
Share
purchase warrant liabilities
|
|
Category
A
|
|
Level
2
|
|
20,821
|
|
20,337
|
|
|
|
|
|
$
|
36,768
|
$
|
31,060
|
INTERIM
CONSOLIDATED FINANCIAL STATEMENTS
|