48North Cannabis Corp. V.NRTH

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[Joham13]

48NORTH CANNABIS CORP.
Condensed Interim Consolidated Statements of Financial Position As at September 30, 2019 and June 30, 2019
(Unaudited - in Canadian dollars)

ASSETS Current

Cash and cash equivalents
Accounts and other receivables [note 7] Investments [note 13]
Prepaid expenses
Biological assets [note 6]
Inventory [note 6]

Total current assets

Long-term deposits
Property, plant and equipment, net [note 8] Right of use assets [note 5]
License [note 9]
Intangibles [note 9 and 12]
Goodwill [note 9]
Total assets

LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities

Accounts payable and accrued liabilities
Current portion of contingent consideration [note 12] Current portion of lease liabilities [note 5]

Total current liabilities

Contingent consideration [note 12] Lease liabilities [note 5]
Deferred income tax liability Total liabilities

Shareholders’ equity

Share capital [note 10]
Stock-based payments reserve [note 10]
Warrants reserve [note 11]
Contributed surplus
Deficit (32,110,449)

September 30 2019

June 30 2019 $$

    

40,392,298 2,543,559 1,250,000

952,743 10,697,201 6,726,177 62,561,978

239,588 23,008,840 65,512 5,083,660 1,209,483 7,068,409 99,237,470

4,469,784 429,786 15,768 4,915,338

1,074,466 49,962 2,292,491 8,332,257

(40,252) 90,905,213 99,237,470

/s/ William Assini William Assini, Director

52,765,566 1,028,770 — 770,168 2,125,359 4,729,774 61,419,637

202,060 21,127,366 — 5,136,249 — 3,137,589 91,022,901

4,701,444 — — 4,701,444

—

— 520,120 5,221,564

106,946,724 7,838,404 4,927,607 440,657 (34,352,055) — 85,801,337 91,022,901

                         

Accumulated other comprehensive income

Total shareholders’ equity
Total liabilities and shareholders’ equity

Continuance of operations and going concern [note 2] Commitments [note 15]
Subsequent events [note 19]

On behalf of the Board:

/s/ Martin Cauchon
Martin Cauchon, Chairman

109,264,100 8,423,550 4,927,607 440,657

            

See accompanying notes to unaudited condensed interim consolidated financial statements.