Fission Uranium : Condensed Interim Financial Statements For the Nine Month Period Ended September 30, 2021

Published: 2021-11-15 23:36:11 ET FCU.TO

Condensed Interim Financial Statements

Fission Uranium Corp.

(Unaudited)

For the Nine Month Period Ended

September 30, 2021

Fission Uranium Corp.

Condensed Interim Financial Statements

(Unaudited)

For the Nine Month Period Ended

September 30, 2021

Table of contents

Condensed interim statements of financial position ......................................................................

1

Condensed interim statements of loss and comprehensive loss ......................................................

2

Condensed interim statements of changes in equity .....................................................................

3

Condensed interim statements of cash flows ...............................................................................

4

Notes to the condensed interim financial statements ................................................................

5-17

Fission Uranium Corp.

Condensed interim statements of financial position (Expressed in Canadian dollars)

(Unaudited)

September 30

December 31

Note

2021

2020

$

$

Assets

Current assets

Cash and cash equivalents

49,629,909

29,947,143

Short-term investments

4

176,540

46,132

Amounts receivable

490,955

106,963

Prepaid expenses

242,817

92,191

50,540,221

30,192,429

Non-current assets

Investment in Fission 3.0 Corp.

5

1,780,779

1,025,297

Property and equipment

18,118

34,589

Right-of-use assets

6

61,612

129,487

Exploration and evaluation assets

7

339,781,526

320,185,305

341,642,035

321,374,678

Total Assets

392,182,256

351,567,107

Liabilities

Current liabilities

Accounts payable and accrued liabilities

1,990,209

729,351

Lease obligations - current portion

8

66,408

92,524

2,056,617

821,875

Non-current liabilities

Deferred gain on short-term investments

4

-

79,431

Lease obligations

8

-

44,600

Credit facility

9

7,512,500

7,095,200

Warrant liability

9

2,728,293

2,638,069

10,240,793

9,857,300

Total Liabilities

12,297,410

10,679,175

Shareholders' Equity

Share capital

10

474,969,472

436,957,431

Other capital reserves

10

38,153,852

31,290,185

Deficit

(133,238,478)

(127,359,684)

379,884,846

340,887,932

Total Liabilities and Shareholders' Equity

392,182,256

351,567,107

Subsequent events (Note 14)

Approved by the Board of Directors and authorized for issue on November 12, 2021.

"Frank Estergaard"

Director

"William Marsh"

Director

The accompanying notes form an integral part of these financial statements

Page 1

Fission Uranium Corp.

Condensed interim statements of loss and comprehensive loss (Expressed in Canadian dollars)

(Unaudited)

Three Months

Three Months

Nine Months

Nine Months

Ended

Ended

Ended

Ended

September 30

September 30

September 30

September 30

Note

2021

2020

2021

2020

$

$

$

$

Expenses

Business development

1,139

23,710

3,825

45,605

Consulting and directors fees

208,700

347,035

635,364

928,788

Depreciation

24,821

44,041

89,910

134,521

Office and administration

132,755

134,398

505,170

422,429

Professional fees

6,411

219,144

197,054

1,216,111

Public relations and communications

77,563

70,348

228,755

334,014

Share-based compensation expense

10(c)

468,676

115,000

2,571,131

116,179

Trade shows and conferences

6,273

1,211

28,900

51,067

Wages and benefits

164,742

142,820

482,310

579,239

1,091,080

1,097,707

4,742,419

3,827,953

Other items - income/(expense)

Foreign exchange gain

499

286,421

447,334

609,873

Interest and miscellaneous income

90,115

27,232

230,784

80,697

Interest - lease obligations

8

(1,202)

(2,677)

(4,640)

(9,116)

Financing costs - credit facility

9

(361,043)

(531,735)

(1,071,528)

(1,049,235)

Gain (loss) on disposal of equipment

333

-

2,395

(3,793)

Share of loss from equity investment

in Fission 3.0 Corp.

-

(268,645)

-

(317,354)

Unrealized gain on investment in

Fission 3.0 Corp.

5

647,556

567,138

755,482

567,138

Unrealized gain on

short-term investments

4

198,297

47,205

209,839

93,603

Unrealized loss on warrant liability

9

(731,492)

(1,357,841)

(1,706,041)

(1,357,841)

(156,937)

(1,232,902)

(1,136,375)

(1,386,028)

Net loss and comprehensive loss

for the period

(1,248,017)

(2,330,609)

(5,878,794)

(5,213,981)

Basic and diluted loss per common share

(0.00)

0.00

(0.01)

(0.01)

Weighted average number of common

shares outstanding

648,926,633

488,316,920

617,618,494

487,327,626

The accompanying notes form an integral part of these financial statements

Page 2

Fission Uranium Corp.

Condensed interim statements of changes in equity (Expressed in Canadian dollars)

(Unaudited)

Total

Share capital

Other capital

shareholders'

Note

Shares

Amount

reserves

Deficit

equity

$

$

$

$

Balance, January 1, 2020

486,620,090

413,615,850

26,717,159

(118,351,544)

321,981,465

Share issuance costs

10(a)

-

(48,465)

-

-

(48,465)

Director remuneration shares issued

124,220

40,000

-

-

40,000

Common shares issued for credit facility interest

1,684,231

441,018

-

-

441,018

Share-based compensation

10(c)

-

-

116,179

-

116,179

Net loss and comprehensive loss

-

-

-

(5,213,981)

(5,213,981)

Balance, September 30, 2020

488,428,541

414,048,403

26,833,338

(123,565,525)

317,316,216

Common share units issued - bought deal financings

10(a)

79,163,474

21,513,487

2,561,346

-

24,074,833

Share issuance costs

10(a)

-

(1,926,494)

(230,793)

-

(2,157,287)

Warrants exercised

10(b)

10,000,000

3,281,850

-

-

3,281,850

Director remuneration shares issued

12

119,632

40,185

-

-

40,185

Share-based compensation

10(c)

-

-

2,126,294

-

2,126,294

Net loss and comprehensive loss

-

-

-

(3,794,159)

(3,794,159)

Balance, December 31, 2020

577,711,647

436,957,431

31,290,185

(127,359,684)

340,887,932

Common share units issued - bought deal financings

10(a)

57,500,000

29,325,621

5,174,379

-

34,500,000

Share issuance costs

10(a)

-

(1,789,649)

(310,157)

-

(2,099,806)

Stock options exercised

10(b)

2,479,330

1,278,724

(739,274)

-

539,450

Warrants exercised

10(b)

19,350,118

8,931,719

(746,521)

-

8,185,198

Director remuneration shares issued

12

66,680

42,667

-

-

42,667

Common shares issued for credit facility interest

10(a)

432,696

222,959

-

-

222,959

Share-based compensation

10(c)

-

-

3,485,240

-

3,485,240

Net loss and comprehensive loss

-

-

-

(5,878,794)

(5,878,794)

Balance, September 30, 2021

657,540,471

474,969,472

38,153,852

(133,238,478)

379,884,846

The accompanying notes form an integral part of these financial statements

Page 3

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Disclaimer

Fission Uranium Corp. published this content on 16 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 November 2021 04:35:04 UTC.