Cendere revenue/ acceleration of warrants/current cash capital provided from Company sources. In order to provide additional capital for the drilling program, the Company is triggering the acceleration provision in all outstanding Common Stock Purchase Warrants (the "Warrants") issued during 2020. Those Warrants must be exercised on or before 30 days from the date of this news release, being August 6, 2021 (the "Deadline").
The Company currently has about CND $1 million in cash on hand. Additionally, the Company’s interest in the Cendere Oil field has generated, in the first five months of 2021, gross revenue of US $1,358,577 and is therefore on track to generate approximately >US $ 3 million for 2021 in gross revenue.