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Canadian Spirit Resources Inc. (SPI.V)

TSXV - TSXV Real Time Price. Currency in CAD
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0.05000.0000 (0.00%)
At close: 12:56PM EDT
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Previous Close0.0500
Open0.0500
Bid0.0450 x N/A
Ask0.0550 x N/A
Day's Range0.0450 - 0.0500
52 Week Range0.0200 - 0.0800
Volume33,000
Avg. Volume28,433
Market Cap9.809M
Beta (5Y Monthly)1.88
PE Ratio (TTM)N/A
EPS (TTM)-0.0090
Earnings DateApr. 28, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est0.15
  • GlobeNewswire

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

    CALGARY, Alberta, Aug. 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 six month period ended June 30, 2020. In addition, CSRI announces that it has granted incentive stock options to acquire 1,000,000 common shares of the Corporation for a price of $0.05 per share for a period of five years in accordance with the terms and conditions of the Corporation’s Stock Option Plan. Second Quarter 2020 This news release summarizes information contained in the unaudited interim condensed financial statements and MD&A for the three and six months ended June 30, 2020, and should not be considered a substitute for reading these full disclosure documents which are available on SEDAR at www.sedar.com or the Corporation’s website at www.csri.ca.The following summarizes certain selected financial data for the three and six months ended June 30, 2020:(all amounts are presented in Canadian dollars, unless otherwise indicated)    Three months ended   June 30,  Six months ended   June 30,   2020  2019  2020  2019        Natural gas sales$                      - $                      - $                      - $                      -  Operating costs            (117,126)              (91,190)            (139,205)            (141,085)       Operating netback$         (117,126)$           (91,190)$         (139,205)$         (141,085) Other income and gains                       61 $             10,000                 23,159                 72,916  Other Expenses            (290,437)            (511,516)            (655,164)            (852,196) Settlement of claims            (514,522)                         -             (514,522)                         -        Net comprehensive loss for the period$         (922,024)$         (592,706)$      (1,285,732)$         (920,365) The Corporation’s loss and comprehensive loss for the six months ended June 30, 2020 was $1,285,762 (June 30, 2019 - $920,365).  When compared to the prior period the $365,367 increased loss was due mainly to the accrual of $514,522 in settlement of claims which the Corporation expensed in the period. The Corporation terminated the employment of the Corporation’s executive officers in April 2020 and is negotiating settlements of the $514,552 commitment. The Corporation may or may not be successful in negotiating a lessor amount and as such accrued the $514,522 in the Statements of Loss and Comprehensive Loss during the period ended June 30, 2020.     As of June 30, As of December 31,    2020  2019      Working Capital:       Current assets$954,281 $703,063      Current liabilities (including debt of $606,739)$(1,348,323)$(114,738)     Working capital$(394,042)$588,325  Total assets$38,566,700 $38,595,074  Total debt$606,739 $-  Shareholders' equity$35,097,455 $36,377,845  Number of common shares outstanding 196,177,583  196,177,583  STOCK OPTION GRANTThe Corporation granted the Chief Executive Officer incentive stock options to purchase a total of up to 1,000,000 common shares of the Corporation as incentive compensation. 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 $0.05 per share. The grant of options will result in a total of 1,850,000 stock options outstanding at a weighted average exercise price of $0.08 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.comThe 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

  • GlobeNewswire

    Canadian Spirit Resources Inc. Announces Review of Strategic Alternatives

    CALGARY, Alberta, Aug. 18, 2020 (GLOBE NEWSWIRE) -- Canadian Spirit Resources Inc. (“CSRI” or the “Corporation”) (TSXV:SPI) (OTCBB:CSPUF) has initiated a process to identify and pursue strategic alternatives to maximize the value of the Company's Montney resource base at Farrell Creek, Altares, and Attachie. This may include, among other alternatives, the sale of the Company or a portion of the Company's assets, a merger, recapitalization, farm-in or joint venture, or other such options as may be determined by the Company's Board of Directors to be in the best interests of the Company and its shareholders. CSRI has engaged Industrial Alliance Securities Inc. to assist in this process. The Company has not set a definitive schedule to complete its evaluation and no decision on any particular alternative has been reached at this time. CSRI does not intend to disclose developments with respect to this process unless and until the Board has approved a definitive transaction or other course of action or otherwise deems disclosure of developments is appropriate or otherwise required by law. There are no guarantees that the process will result in a transaction of any form or, if a transaction is entered into, as to its terms or timing.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) 618-2113 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

  • GlobeNewswire

    Canadian Spirit Resources Inc. Announces First Quarter 2020 Financial Results and Issuance of Debenture

    Canadian Spirit Resources Inc. (“CSRI” or the “Corporation”) (SPI.V) (CSPUF) announces the release of its interim financial results and Management Discussion and Analysis (“MD&A”), for the three month period ended March 31, 2020, and the issuance of a debenture to Elmag Investments Inc. ("Elmag") in the principal amount of $600,000. This news release summarizes information contained in the unaudited interim condensed financial statements and MD&A for the three months ended March 31, 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.