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St-Georges Eco-Mining Corp C.SX

Alternate Symbol(s):  SXOOF

St-Georges Eco-Mining Corp. develops new technologies to solve some of the common environmental problems in the mining sector, including maximizing metal recovery and full-circle battery recycling. The Company explores for nickel and PGEs and other strategic and critical minerals on the Manicouagan and Julie Projects on Quebec’s North Shore, for Niobium and Rare Earth Minerals on the Notre-Dame Project in the Lac St-Jean region and has multiple exploration projects in Iceland, including the Thor Gold Project. The Manicouagan Project is located approximately 70 kilometers (km) north of the Manicouagan Crater and 350 km northwest of Baie-Comeau, QC. The Julie Project is located via a 90-minute drive from the deep seaport city of Baie-Comeau on the Quebec North Shore. The Project comprises 294 claims for an area of 16,226.99 hectares. The Notre-Dame Project is located near the municipality of Notre-Dame de Lorette on the northern flank of the Lac St-Jean in Quebec.


CSE:SX - Post by User

Post by kijijion Jul 19, 2021 7:38pm
135 Views
Post# 33573363

St-Georges loses $14.09-million in 2020

St-Georges loses $14.09-million in 2020
ST-GEORGES FILES 2020 AUDITED FINANCIAL STATEMENTS
 
St-Georges Eco-Mining Corp. has filed its 2020 year-end audited financial statements on SEDAR. The financial statements includes a restatement of 2019 year-end audited financial statements.
 
The company has incurred losses of $14,096,033 for the year 2020, compared with losses of $2,892,869 (restated) for the year 2019.
 
All digital assets held by the company's subsidiaries have been written off to nil.
 
The principal amount of 2,151,409 pounds sterling, a fair value of $2,238,797 of the convertible loan receivable from BWA, has been written off. The company recognized a loss on the change in fair value of the convertible loan of nil.
 
On May 3, 2021, the British Columbia Securities Commission (BCSC) approved a management cease trade order (MCTO) imposed against the chief executive officer, Herb Duerr, and chief financial officer, Richard Barnett, of the company, precluding them from trading securities of the company. The MCTO required the annual financial filings to be filed on or before July 2, 2021. On July 6, 2021, after review, the BCSC granted a further extension for the filing of the annual financial filings until July 15, 2021, as well as an extension for the filing of the company's interim financial statements and corresponding management's discussion and analysis for the three-month period ended March 31, 2021, including the related CEO and CFO certifications which must be filed before July 20, 2021.
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