Fort Capital Investment Banking Pitch Book
Capital & Operating Expense and Equity Financing Summary
Corvus has spent approximately $4M per quarter over the last two years (1)
.
.
.
Corvus has raised over $32M in equity capital since 2018
US$12.6M At The Market (ATM) facility is currently in place
--$341K has been raised through the ATM facility as at
May 31, 2021
Over $70M of equity capital raised since 2010
The company requires $20M - $25M to reach a production decision
at North Bullfrog and advance the Mother Lode project
- Requires additional future equity raises for working capital
as well as potential requirement to repay the AngloGold loan
Historical Spend and Capital Raised (Last 3 Years)
$21.0
$10.0
$6.0
$2.0
($2.0)
($6.0)
($10.0)
$4.5
Q1
$3.4
Corvus (
(2)
$2.1
$0.9
$2.2
($2.4) ($2.3) ($2.8) ($1.9) ($2.0) ($2.7) ($3.0)
Q2 Q3 Q4 Q1
FY 2019
Previous Equity Financings (Since 2018)
Size (CSM)
($0.1) ($0.0) ($0.0)
Date
Jan 29, 2021 (2)
October 10, 2019
August 20, 2019
May 21, 2019
December 21, 2018
June 7, 2018
($5.2) ($5.3)
(1)
$1.9
Q1
$0.2
($4.1) ($3.8)
$6.4
($4.8)
Q2 Q3
FY 2021
Financing Cash Flows
Q2 Q3 Q4
FY 2020
Historical Spend
Sum of operating and investing cashflows as per quarterly financial statements
Twelve month ATM agreement worth up to CS 16.1M that remains in progress, as per May 31, 2021 financial statements
C$0.3M
C$23.0M
C$1.3M
C$0.9M
C$2.1M
C$4.5M
Q4
Cash Flows (CSM)
$25.0
$17.5
$10.0
$2.5
($5.0)
($12.5)
($20.0)
Share Price (C$)
C$2.86
C$2.00
C$2.60
C$1.80
C$2.60
C$2.60
2 Year Summary
FY 2020 FY 2021
22
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