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    NPR   CA6614441096


SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

North Peak Resources : files annual financials and provides operational update

05/05/2021 | 01:21am EDT


www.northpeakresources.comTSX Venture: NPR



Calgary, Canada

May 3, 2021

NORTH PEAK RESOURCES LTD. (TSX Venture: NPR) (the "Company" or "North Peak") announces that it has filed its audited consolidated financial statements and Management's Discussion and Analysis for the year ended December 31, 2020, which can be found under the Company's profile on SEDAR (www.sedar.com), and which sets forth detailed operating and financial results for the Company for 2020.

In 2020, the Company completed its "change of business" to a mining issuer and the following are the highlights:

  • Completed a "change of business" transaction to become a Tier 2 Mining Issuer, changed its name to North Peak Resources Ltd. and changed its stock trading symbol to "NPR".
  • Entered into an option agreement to acquire 100% interest in and to the Kenogami Lake Project (formerly referred to as the Mike Leahy Property) located 15 kilometres southwest of Kirkland Lake Ontario, consisting of twenty-seven mineral claims totaling 500.3 hectares.

Since the year end, the Company has:

  • Completed a non-brokered private placement for aggregate gross proceeds of CAD$1,104,000. In connection with the private placement, 2,299,999 common shares of the Company were issued at a price of CAD$0.48 per share.
  • Commenced drilling at the Kenogami Lake Project, which is expected to be continued in Q2 2021, when weather and road conditions are more favourable.
  • Sold various blockchain related patents that it obtained in the United States, along with ongoing related patent applications in China, for a CAD$150,000 cash payment and a 5% royalty on any profits generated by the buyer and its affiliates from any commercial applications derived from the patents that such buyer may develop.

The Company is in a strong position with current cash on hand of approximately CAD$7 million. The Company continues to evaluate further mining properties, that fulfil its key criteria of targeting historic mining assets with strategic exploration potential at an appropriate acquisition price.

About North Peak

The Company is a Canadian based gold exploration and development company that is listed on the TSX Venture Exchange under the symbol "NPR".

For further information, please contact:

Brian Hinchcliffe, CEO

Phone: +1-914-815-2773

Email: info@northpeakresources.com

Website: www.northpeakresources.com

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS: This news release includes certain "forward-lookingstatements" under applicable Canadian securities legislation. Forward- looking statements include, but are not limited to, statements with respect to the Company's drilling campaign, the timing, results and interpretation and analysis of such drilling campaign, the ability of the

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buyer of the patents to commercialize the patents, anticipated generation of royalties and other information concerning future events or the intentions, plans and future action of the Company that may be described herein. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur.

By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, as well as those risk factors discussed or referred to in the Company's Management's Discussion and Analysis for the year ended December 31, 2020 available at www.sedar.com, many of which are beyond the control of the Company. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


North Peak Resources Ltd. published this content on 03 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 May 2021 05:20:00 UTC.

ę Publicnow 2021
05/05NORTH PEAK RESOURCESá : files annual financials and provides operational update
05/03NORTH PEAK RESOURCESá : Files Annual Financials and Provides Operational Update
04/30NORTH PEAK RESOURCESá : MD&A for the year ended 31, December 2020
02/24NORTH PEAK RESOURCESá : Announces the Sale of its Blockchain Patents to Helix Ap..
01/11NORTH PEAK RESOURCESá : announces closing of non-brokered Private Placement
01/11NORTH PEAK RESOURCESá : Raises C$1.1 Million in Private Placement of Shares
01/11NORTH PEAK RESOURCESá : Announces Closing of $1.1 Million Non-Brokered Private P..
2020NORTH PEAK RESOURCESá : NPR Dec 2020 - Corporate Presentation
2020NORTH PEAK RESOURCESá : NPR Dec 2020 Corporate Presentation
2020NORTH PEAK RESOURCESá : announces non-brokered Private Placement to fund explora..
More news
Sales 2020 - - -
Net income 2020 -1,60 M -1,32 M -1,32 M
Net cash 2020 6,85 M 5,65 M 5,65 M
P/E ratio 2020 -5,50x
Yield 2020 -
Capitalization 14,3 M 11,8 M 11,8 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees -
Free-Float 76,4%
Duration : Period :
North Peak Resources Ltd. Technical Analysis Chart | MarketScreener
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Income Statement Evolution
Managers and Directors
Brian D. Hinchcliffe Executive Chairman & Chief Executive Officer
Robert D. B. Suttie Chief Financial Officer, Secretary & Director
John Sidney Thomson Lead Independent Non-Executive Director
Chelsea Hayes Director
Michael Sutton Director
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