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Contact Gold Reports Q1 2021 Financial and Operating Results and Reminds Securityholders of Special Meeting on May 25, 2021
Vancouver, British Columbia--(Newsfile Corp. - May 14, 2021) - Contact Gold Corp. (TSXV: C) ...
About this update from Commodore Metals Corp.
[{"type":"text","content":"Contact Gold Reports Q1 2021 Financial and Operating Results and Reminds Securityholders of Special Meeting on May 25, 2021Vancouver, British Columbia--(Newsfile Corp. - May 14, 2021) - Contact Gold Corp. (TSXV: C) (OTCQB: CGOL) (the \"Company\" or \"Contact Gold\") is pleased to announce its financial and operating results for the three months ended March 31, 2021. The Company would also like to remind all Contact Gold securityholders to vote and take action with their common shares and warrants in advance of an Annual and Special Meeting to be held May 25, 2021.Selected Q1 2021 financial dataDetails of financial results as at and for the three months ended March 31, 2021, are described in the unaudited condensed interim consolidated financial statements and related notes thereto (the \"Interim Financial Statements\") as prepared in accordance with United States Generally Accepted Accounting Principles (\"US GAAP\"), and MD&A for the corresponding period, copies of which are available on SEDAR at www.sedar.com. The following selected financial data is derived from the Interim Financial Statements. Unless otherwise stated, the information herein, and in the tables below, is presented in Canadian dollars.Three months endedAttributable to shareholders:March 31, 2021March 31, 2020March 31, 2019Loss for the period$1,709,113$2,702,007$1,777,295Other comprehensive loss (gain) for the period$485,285$(3,367,024)$817,979Comprehensive loss (gain) for the period$2,194,398$(665,017)$2,595,274Basic and diluted loss per share$0.01$0.04$0.04 Losses attributable to shareholders for the three months ended March 31, 2021 of $1.71 million (2020: $2.70 million; and 2019: $1.78 million), reflect primarily (i) exploration and evaluation of the Company's exploration property interests ($0.92 million), (ii) costs incurred for professional, legal and advisory fees, administration & office expenditures, wages and salaries, and investor relations activities (in aggregate, $0.71 million), and (iii) non-cash stock-based compensation expense of $0.15 million, net of a fair value adjustment recognized on the embedded derivatives within the Preferred Shares (gain of $0.11 million). Losses for the three-month period ended March 31, 2020 reflect similar activities and a fair value adjustment.During the three months ended March 31, 2021, exploration ...