Clean Air Metals Inc. announces that it has filed its condensed consolidated interim financial statements and management’s discussion and analysis for the three-month period ended April 30, 2021, available for viewing on www.sedar.com.
Q1 Financial Highlights
During the quarter ended April 30, 2021 as previously reported, the Company,
Financial Summary
For the three months ended |
||
April 30, 2021 |
April 30, 2020 |
|
Operating Expenses |
$ 747,134 |
$ 637,242 |
Net Loss and Comprehensive |
(47,741) |
(640,324) |
Loss per share – |
||
Basic and Diluted |
$ (0.00) |
$ (0.03) |
April 30, 2021 |
January 31, 2021 |
|
Total Assets |
$ 37,914,067 |
$ 27,146,884 |
Total Liabilities |
6,606,183 |
3,923,352 |
Total Shareholders’ Equity |
$ 31,307,884 |
$ 23,223,532 |
Full details of the financial reports and operating results for the three-month period ended April 30, 2021 are described in the Company’s condensed consolidated interim financial statements with accompanying notes and related Management’s Discussion and Analysis, available on SEDAR at www.sedar.com.
CEO of Clean Air Metals, Abraham Drost, MSc, P.Geo. stated that ” Clean Air Metals presents its quarterly financial statements for the first quarter ending April 30, 2021 in the normal course in keeping with the highest standards of corporate disclosure. Exploration and development work continues apace at Thunder Bay North, with three drills turning 24/7. The drilling is consistently hitting new mineralization and the Company is advancing and optimizing an internal engineering and metallurgical testing process looking to publish benchmark results later in the year.”
COVID Policy
Clean Air Metals continued to apply COVID-19 avoidance and personal protection measures for its geological staff, drilling contractor and service suppliers during the third quarter. Personnel are required to maintain physical distance, use Personal Protective Equipment (PPE), self-monitor and self-isolate or elect to work from home. Management had previously eliminated plans for a camp setup to service a planned diamond drill campaign on the Escape Lake Project. The Company is aware of Thunder Bay Health Unit guidelines that provide for “mandatory” self-isolation for returning overseas and inter-provincial travel. The guidelines also “strongly recommended” self-isolation after travel into the Northwest region from other areas of the Province. Mineral Exploration and Development has been deemed an essential service in the Province of Ontario (http://www.netnewsledger.com/2020/03/23/ontario-covid-19-business-allowed-to-remain-open-list-march-23-2020/). The Company has procured the services of a locally staffed and serviced diamond drilling contractor to complete the diamond drilling programs.
Qualified Person
Mr. Allan MacTavish, P.Geo. a Qualified Person under National Instrument 43-101 and VP, Project Manager of the Company, has reviewed and approved all technical information in this press release.
Social Engagement
Clean Air Metals Inc. and its wholly-owned subsidiary Panoramic PGMs (Canada) Ltd. acknowledge that the Thunder Bay North Project is on the traditional territories of the Fort William First Nation, Red Rock First Nation and Biinjitiwabik Zaaging Anishinabek. The parties together are the Cooperating Participants in a Memorandum of Agreement dated January 9, 2021 and the issue of Warrants, reported January 28, 2021.
ON BEHALF OF THE BOARD OF DIRECTORS
“Abraham Drost“
Abraham Drost, Chief Executive Officer of Clean Air Metals Inc.
Website: www.cleanairmetals.ca