Business
Contact Gold Reports Q2 2021 Financial and Operating Results
Vancouver, British Columbia--(Newsfile Corp. - August 19, 2021) - Contact Gold Corp. ( TSXV:...
About this update from Commodore Metals Corp.
[{"type":"text","content":"Contact Gold Reports Q2 2021 Financial and Operating ResultsVancouver, British Columbia--(Newsfile Corp. - August 19, 2021) - Contact Gold Corp. (TSXV: C) (OTCQB: CGOLF) (the \"Company\" or \"Contact Gold\") is pleased to announce its financial and operating results for the three- and six-months ended June 30, 2021.Details of financial results as at and for the three- and six-months ended June 30, 2021, are described in the unaudited condensed interim consolidated financial statements and related notes thereto (the \"Interim Financial Statements\") as prepared in accordance with International Financial Reporting Standards (\"IFRS\"), and MD&A for the corresponding period, copies of which are available on SEDAR at www.sedar.com. Beginning the year ended December 31, 2019, the Company began reporting its financial results in accordance with United States Generally Accepted Auditing Principles (\"US GAAP\"). Accordingly, financial information filed under the Company's issuer profile on SEDAR for the years ended December 31, 2019, and December 31, 2020, and for each of the interim periods for the year 2020, and the three-months ended March 31, 2021, inclusive were prepared in accordance with US GAAP. The Company had previously reported pursuant to IFRS. Pursuant to having completed a corporate continuance to the Province of British Columbia in June 2021, the Company has reverted to preparing and reporting its consolidated financial statements in accordance with IFRS, with retrospective application through an election to change all of its accounting policies.IFRS differs in some respects from US GAAP, and thus financial results may not be comparable to that which has been reported in previously-filed financial statements. A discussion concerning the re-adoption of IFRS and transition from US GAAP is included in Interim Financial Statements under heading, \"Re-adoption of IFRS and reclassification of comparative periods\".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 endedSix months endedAttributable to shareholders:June 30, 2021June 30, 2020June 30, 2021June 30, 2020Loss for the period$1,931$692$3,640$3,394Other comprehensive loss (gain) $386$1,603$871$(1,824)L...