Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.22.2.2
Consolidated Statements of Cash Flows
12 Months Ended
Jun. 30, 2022
CAD ($)
Jun. 30, 2021
CAD ($)
Jun. 30, 2020
CAD ($)
Operating Activities      
Net loss for the year $ (9,446,454) $ (552,436) $ (182,116)
Adjustments for non-cash items:      
Recovery of accounts payable (10,740)
Interest expenses and accretion (Notes 8 and 9) 148,406 140,264
Amortization of transaction costs (Note 9) 56,512 13,284
Stock-based compensation (Notes 12 and 13) 8,035,506
Gain on change in fair value of derivative liabilities (Note 10) (1,103,839) (32,676)
Recovery of flow through share liability (71,249)
Foreign exchange (gain) loss (14,000) 2,675
Total adjustments for non-cash items (2,323,869) (442,304) (250,690)
Net change in non-cash working capital items:      
Sales tax receivable (283,520) (47) 16,034
Prepaids and deposits (864,177) (67,179) 17,357
Accounts payable and accrued liabilities (Note 7) 552,249 84,360 (52,992)
Due to related party (179,655) 61,694 12,310
Cash Flows (used in) Operating Activities (3,098,972) (363,476) (257,981)
Financing Activities      
Loan from Nova Minerals Limited (1,114)
Proceeds from issuance of convertible debentures (Note 9) 805,000
Proceeds from issuance of shares on IPO (Note 11) 34,988,520
Share issuance costs (Note 11) (2,995,448)
Proceeds received from loan (Note 8) 873,253
Repayment on loan (Note 8) (679,617)
Proceeds from exercise of warrants (Note 11) 365,114 4,883 113
Cash Flows provided by (used in) Financing Activities 32,551,822 809,883 (1,001)
Investing Activities      
Payments for exploration and evaluation assets (Note 6) (5,979,286) (270,652) (196,928)
Cash Flows (used by) Investing Activities (5,979,286) (270,652) (196,928)
Increase (decrease) in cash 23,473,564 175,755 (455,910)
Cash, beginning of year 318,844 143,089 598,999
Cash, end of year 23,792,408 318,844 143,089
Supplemental Information      
Exploration and evaluation assets in accounts payable $ 485,089 $ 117,015 $ 54,322