Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Consolidated Statement of Cash Flows

v3.21.2
Consolidated Statement of Cash Flows - CAD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Operating activities    
Net loss for the year $ (18,576,867) $ (12,513,900)
Items not affecting cash:    
Share-based compensation 3,955,976 3,796,095
Foreign exchange 1,027,601 (1,442,606)
Interest not received in cash (4,099,526) (3,832,577)
(Gain) Loss on revaluation of call/put option [1] (53,619,465) 4,407,819
Listing expense [2] 31,705,481 0
Depreciation and amortization [3] 15,291,977 1,898
Write off of deposit [4] 1,853,059 0
Realized gain in cost of sales (45,232) 0
Fair value adjustment on biological assets [5] 543,116 0
Gain on disposal of property, plant and equipment [6] (232,874) 0
Revaluation of financial instruments (673,585) 0
PV accretion expense (PV sellers) 307,239 0
PV fair value adjustment on convertible loan [4] 1,093,248 0
Finance fees 1,581,005 0
Accrued interest payable 0 229,399
Financing expense (income) 0 (2,340,164)
Adjustments to reconcile profit (loss) (19,888,847) (11,694,036)
Changes in non-cash operating working capital [7] (25,198,759) (410,435)
Cash flows from (used in) operating activities (45,087,606) (12,104,471)
Investing activities    
Disposition of property, plant and equipment [6] 288,846 0
Purchase of property, plant and equipment [6] (180,420) (12,745)
Deposits [8] 0 (12,246,787)
Cash received on RTO [2] 1,822,156 0
Cash paid on business combination of MAG [4] (20,482,087) 0
Cash paid on business combination of PV [4] (7,477,069) 0
Loan receivable 0 (79,090,092)
Cash flows from (used in) investing activities (26,028,574) (91,349,624)
Financing activities    
Issuance of share capital, net [9] 22,241,753 26,299,820
Funds received for shares to be issued [9] 0 125,000
Warrants exercised, Value [9] 963,840 0
Exercise of stock options [9] 1,112,500 0
Convertible debentures [10] 0 17,650,000
Loans payable [11] 15,819,517 36,380,676
Credit facility - repayment of existing loan [12] (36,610,075) 0
Credit facility - new borrowing [12] 63,524,867 0
Cash flows from (used in) financing activities 67,052,402 80,455,496
Decrease in cash (4,063,778) (22,998,599)
Net effects of foreign exchange 3,831,660 0
Cash, beginning 1,378,687 24,377,286
Cash, ending $ 1,146,569 $ 1,378,687
[1] Note 12.
[2] Note 5.
[3] Notes 10, 13.
[4] Note 6.
[5] Note 8.
[6] Note 10.
[7] Note 24.
[8] Notes 6, 11.
[9] Note 18.
[10] Note 14.
[11] Note 16.
[12] Note 15.