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Canadian Spirit Resources Inc. (SPI.V)

TSXV - TSXV Real Time Price. Currency in CAD
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0.08000.0000 (0.00%)
At close: 10:35AM EDT
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Previous Close0.0800
Open0.0800
Bid0.0750 x 0
Ask0.0800 x 0
Day's Range0.0750 - 0.0800
52 Week Range0.0300 - 0.1000
Volume109,500
Avg. Volume23,263
Market Cap18.254M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)-0.0100
Earnings DateNov. 27, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est0.15
  • Canadian Spirit Resources Inc. Announces Year End 2020 Financial Results and Exercise of Warrants
    GlobeNewswire

    Canadian Spirit Resources Inc. Announces Year End 2020 Financial Results and Exercise of Warrants

    CALGARY, Alberta, April 20, 2021 (GLOBE NEWSWIRE) -- Canadian Spirit Resources Inc. (“CSRI” or the “Corporation”) (TSXV:SPI) (OTCBB:CSPUF) announces the release of its financial results for the three and twelve months ended December 31, 2020 including the filing of its 2020 annual audited Financial Statements, Management Discussion and Analysis (“MD&A”), and Forms 51- 101F1, F2 and F3. This news release summarizes information contained in the audited Financial Statements and MD&A for the year ended December 31, 2020 and should not be considered a substitute for reading these full disclosure documents, and the Forms 51-101F1, F2 and F3, which are available on SEDAR at www.sedar.com or the Corporation’s website at www.csri.ca. CSRI is a natural resources company focused on the identification and development of opportunities in the unconventional natural gas sector of the energy industry. SELECTED FINANCIAL DATA (all amounts are presented in Canadian dollars, unless otherwise indicated) Three months ended December 31, Twelve months ended December 31, 2020 2019 2020 2019 Average sales volumes of natural gas (mcf/d) - - - - Average sales price of natural gas ($/mcf) - - - - Petroleum and natural gas sales$ - $ - $ - $ - Operating netback$ (6,199)$ (68,573)$ (204,767)$ (304,586)Cash flow from operating activities$ (59,345)$ (252,443)$ (795,351)$ (1,169,546)Earnings (loss) and comprehensive loss$ (346,185)$ (105,565)$ (1,978,122)$ (1,421,434)- per share basic and diluted$ (0.00)$ (0.00)$ (0.01)$ (0.01)Capital expenditures$ 254,133 $ 83,172 $ 344,702 $ 179,833 As at December 31, 2020 2019Working capital$ 464,264$ 588,325Total assets$ 39,132,048$ 38,595,074Total debt$ -$ -Shareholders' capital$ 36,047,484$ 36,377,845Number of common shares outstanding 228,177,583 196,177,583 WARRANTS CSRI is pleased to announce that all 20,000,000 of the share purchase warrants issued November 9, 2020 (with an expiry term of two year) have been exercised at a price of$0.08 per warrant. As a result of the exercise of these warrants, the Corporation now has 248,177,583 common shares outstanding. CSRI is a natural resources Corporation focusing on the identification and development of opportunities in the unconventional natural gas sector of the energy industry. Information regarding CSRI is available on SEDAR at www.sedar.com or the Corporation’s website at www.csri.ca. Information regarding CSRI is available on SEDAR at www.sedar.com or the Corporation’s website at www.csri.ca. For further information, please contact: Canadian Spirit Resources Inc.Telephone (403) 618-2113Louisa DeCarlo (louisa.decarlo@csri.ca) The corporate information contained in this news release may contain forward-looking forecast information. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonably accurate by CSRI at the time of preparation, may prove to be incorrect. The actual results achieved during the forecast period will vary from the information provided herein and the variations may be material. Consequently, there is no representation by CSRI that actual results achieved during the forecast period will be the same in whole or in part as those forecast. NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE

  • Canadian Spirit Resources Inc. Announces Third Quarter 2020 Financial Results and Grant of Stock Option
    GlobeNewswire

    Canadian Spirit Resources Inc. Announces Third Quarter 2020 Financial Results and Grant of Stock Option

    CALGARY, Alberta, Nov. 27, 2020 (GLOBE NEWSWIRE) -- Canadian Spirit Resources Inc. (“CSRI” or the “Corporation”) (TSXV:SPI) (OTCBB:CSPUF) announces the release of its interim financial results and Management Discussion and Analysis (“MD&A”), for the nine month period ended September 30, 2020. In addition, CSRI announces that it has granted incentive stock options to acquire an aggregate of 2,800,000 common shares of the Corporation (“Common Shares”) for a price of $0.10 per share for a period of five years in accordance with the terms and conditions of the Corporation’s Stock Option Plan. Third Quarter 2020 This news release summarizes information contained in the unaudited interim condensed financial statements and MD&A for the three and nine months ended September 30, 2020, and should not be considered a substitute for reading these full disclosure documents which are available on SEDAR at www.sedar.com or the Corporation’s website at www.csri.ca.The following summarizes certain selected financial data for the three and nine months ended September 30, 2020:(all amounts are presented in Canadian dollars, unless otherwise indicated)  Three months ended September 30,Nine months ended September 30,   2020  2019  2020  2019        Natural gas sales$- $- $- $-  Operating costs (59,363) (94,928) (198,568) (236,013)       Operating netback$(59,363)$(94,928)$(198,568)$(236,013) Other income and gains 44  4,905  23,203  77,821  Other Expenses (286,856) (516,611) (942,020) (1,368,807) Settlement of claims -  -  (514,552) -        Net comprehensive loss for the period$(346,175)$(606,634)$(1,631,937)$(1,526,999) The Corporation’s loss and comprehensive loss for the nine months ended September 30, 2020 was $1,631,937 (September 30, 2019 - $1,526,999). When compared to the prior period the $104,939 increased loss was due mainly to the accrual of $514,552 in settlement of claims which the Corporation expensed in the period. The Corporation terminated the employment of two of the Corporation’s executive officers in April 2020 and is negotiating settlements of the $514,552 commitment. The Company may or may not be successful in negotiating a lessor amount and as such accrued the $514,552 in the Statements of Loss and Comprehensive Loss during the period ended September 30, 2020. As of September 30, As of December 31,  20202019     Working Capital:   Current assets$650,784 $703,063  Current liabilities (including debt of $610,000)$(1,307,465)$(114,738) Working capital$(656,681)$588,325  Total assets$38,197,888 $38,595,074  Total debt$610,000 $-  Shareholders' equity$34,762,435 $36,377,845  Number of common shares outstanding 196,177,583  196,177,583  STOCK OPTION GRANTThe Corporation granted to certain directors and executive officers of the Corporation incentive stock options to purchase a total of up to an aggregate of 2,800,000 Common Shares pursuant to the terms of the Corporation's Stock Option Plan. The stock options vest as to one-quarter immediately, with one-quarter vesting on each of the dates six months, 12 months and 18 months subsequent to the effective date of the grant. All the stock options have a term of five years and may be exercised at a price of $0.10 per share. The grant of options will result in a total of 4,650,000 stock options outstanding at a weighted average exercise price of $0.09 per stock option.ABOUT CSRI CSRI is a natural resources company focusing on the identification and development of opportunities in the unconventional gas sector of the energy industry. For further information please visit the Corporation’s website at www.csri.ca.For further information, please contact: Canadian Spirit Resources Inc. Telephone (403) 618-2113 Louisa DeCarlo (louisa@danrichresources.com)The corporate information contained in this news release may contain forward-looking forecast information. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonably accurate by CSRI at the time of preparation, may prove to be incorrect. The actual results achieved during the forecast period will vary from the information provided herein and the variations may be material. Consequently, there is no representation by CSRI that actual results achieved during the forecast period will be the same in whole or in part as those forecast. NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE

  • Canadian Spirit Resources Inc. Announces Closing of Previously Announced Private Placement and Shares for Debt Transaction
    GlobeNewswire

    Canadian Spirit Resources Inc. Announces Closing of Previously Announced Private Placement and Shares for Debt Transaction

    /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S./CALGARY, Alberta, Nov. 09, 2020 (GLOBE NEWSWIRE) -- Canadian Spirit Resources Inc. ("CSRI" or the "Corporation") (TSXV:SPI) (OTCBB:CSPUF) is pleased to announce that it has closed its previously announced non-brokered private placement offering (the "Offering") and issued 20,000,000 units of the Corporation ("Units"), at a price of $0.05 per Unit, for aggregate gross proceeds of $1,000,000 and has also completed its previously announced shares for debt transaction whereby the Corporation settled $600,000 in outstanding debt to Elmag Investments Inc. (Investissements Elmag Inc.) ("Elmag") by issuing 12,000,000 common shares in the capital of the Corporation ("Common Shares") at an issuance price of $0.05 per Common Share (the "Debt Settlement").Each Unit consists of one Common Share and one Common Share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share at a price of $0.08 for a period of two years after closing of the Offering. All of the Units issued under the Offering were purchased by Elmag who is an insider and control person of the Corporation.The net proceeds of the Offering will be used for various field activities and initiatives, and for general corporate purposes. All the securities issued pursuant to the Offering will be subject to a four-month restricted resale period under Canadian securities laws.The Offering and the Debt Settlement are considered related party transactions within the meaning of TSX Venture Exchange (the "TSXV") Policy 5.9 and Multilateral Instrument 61–101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Corporation has relied on the exemptions from formal valuation and minority approval contained in Section 5.5(b) and Section 5.7(g), respectively, of MI 61-101. The Common Shares are only traded on the facilities of the TSXV and the Corporation's board of directors have unanimously determined (with Luigi Liberatore abstaining) that the Corporation meets the financial hardship requirements of Section 5.7(g) of MI 61-101, the Offering and Debt Settlement are designed to improve the financial position of the Corporation, and the terms of such transactions are reasonable in the circumstances of the Corporation. Further details will be provided in the Corporation’s material change report to be filed on SEDAR.The Corporation did not file a material change report in respect of the related party transactions more than 21 days prior to the closing of the Offering or completion of the Debt Settlement, which the Corporation deems reasonable in the circumstances so as to be able to avail itself of the proceeds of the Offering and improve the Corporation's financial circumstances in an expeditious manner.The Offering and the Debt Settlement are subject to all necessary regulatory and stock exchange approvals, including buy not limited to approval of the TSXV. The securities issued pursuant to the Offering and the Debt Settlement are subject to a hold period expiring March 7, 2021, in accordance with applicable Canadian securities law.CSRI is a natural resource company focusing on the identification and development of opportunities in the unconventional natural gas sector of the energy industry.Information regarding CSRI is available on SEDAR at www.sedar.com or the Corporation's website at www.csri.ca.On behalf of the Board of Directors CANADIAN SPIRIT RESOURCES INC."Louisa DeCarlo"President and Chief Executive OfficerFor further information, please contact: Canadian Spirit Resources Inc. Telephone (403) 618-2113 Louisa DeCarlo (louisa@danrichresources.com)Forward-looking Information Cautionary Statement This press release contains forward-looking statements. The forward-looking statements in this press release are based on certain expectations and assumptions made by the Corporation. Although the Corporation believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Corporation can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with adverse market conditions, receipt of TSXV and other regulatory approvals of the Offering and the Debt Settlement, and changes in the Corporation's business plans. Forward-looking statements are based on estimates and opinions of management of the Corporation at the time the statements are presented. The Corporation may, as considered necessary in the circumstances, update or revise such forward-looking statements, whether as a result of new information, future events or otherwise, but the Corporation undertakes no obligation to update or revise any forward-looking statements, except as required by applicable securities laws.NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE