SEDAR Interim Financial Statements

[
  {
    "companyName": "VINLAND LITHIUM INC. (A Development Stage Enterprise)",
    "reportingPeriodEnd": "2025-09-30",
    "reportStatus": "Unaudited",
    "auditorName": null,
    "auditorKeyMatters": [],
    "balanceSheet": {
      "cashAndCashEquivalents": 1332609,
      "hstAndOtherReceivables": 50336,
      "prepayments": 9253,
      "refundableDeposits": 3350,
      "totalCurrentAssets": 1395548,
      "rightOfUseAssets": 31480,
      "explorationAndEvaluationAssets": 8168721,
      "totalAssets": 9595749,
      "accountsPayableAndAccruedLiabilities": 79435,
      "currentPortionOfLeaseLiability": 34018,
      "totalCurrentLiabilities": 113453,
      "leaseLiabilityNonCurrent": 0,
      "totalLiabilities": 113453,
      "shareCapital": 10050252,
      "contributedSurplus": 158609,
      "deficit": -726565,
      "totalEquity": 9482296,
      "cashPerShare": 0.1326,
      "workingCapitalPerShare": 0.1276
    },
    "incomeStatement": {
      "generalAndAdministrative": 44910,
      "advertisingAndPromotion": 7899,
      "depreciationAndAmortizationExpense": 22991,
      "professionalFees": 89210,
      "consultingFees": 17800,
      "salariesAndBenefits": 62886,
      "listingAndFilingFees": 23782,
      "shareBasedPayments": 158609,
      "preAcquisitionExplorationAndEvaluation": 113,
      "totalExpenses": -428200,
      "interestIncome": 33564,
      "recoveryOfLossOnDispositionOfMarketableSecurities": 0,
      "lossOnDispositionOfMarketableSecurities": 0,
      "lossAndComprehensiveLossForThePeriod": -394636,
      "lossPerShareBasicAndDiluted": -0.04,
      "weightedAverageSharesOutstanding": 10050252
    },
    "cashFlowStatement": {
      "netLoss": -394636,
      "recoveryOfLossOnMarketableSecurities": 0,
      "lossOnDispositionOfMarketableSecurities": 0,
      "shareBasedPayments": 158609,
      "depreciationAndAmortization": 22991,
      "imputedInterestOnLeaseLiability": 3765,
      "decreaseInHstAndOtherReceivables": -25332,
      "decreaseInPrepayments": 6629,
      "decreaseInAccountsPayableAndAccruedLiabilities": -53600,
      "cashFlowsUsedInOperatingActivities": -281574,
      "paymentsOnLeaseLiability": -27000,
      "cashFlowsUsedInFinancingActivities": -27000,
      "explorationAndEvaluationExpenditures": -268471,
      "recoveryOfExplorationAndEvaluationExpendituresGrants": 150000,
      "cashReceivedForFutureExplorationAndEvaluation": 0,
      "increaseInRefundableSecurityDeposits": -3350,
      "proceedsOnSaleOfMarketableSecurities": 0,
      "cashFlowsUsedInInvestingActivities": -121821,
      "increaseDecreaseInCashAndCashEquivalents": -430395,
      "cashAndCashEquivalentsBeginningOfYear": 1763004,
      "cashAndCashEquivalentsEndOfPeriod": 1332609
    },
    "investmentsAndOtherAssets": [
      {
        "type": "Joint Venture",
        "description": "Earn-in agreement with Piedmont Lithium Newfoundland Holdings LLC to acquire up to 62.5% interest in the Killick Lithium project by funding exploration expenditures.",
        "ownershipPercentage": null,
        "value": null,
        "notes": "Initial earn-in: 16.35% for $6 million; First additional earn-in: 21.65% (total 38%) for $3 million; Second additional earn-in: 24.5% (total 62.5%) for $3 million."
      },
      {
        "type": "Royalty",
        "description": "2% royalty on net returns of precious metals and lithium granted to Benton and Sokoman, with right to repurchase 1% for $2 million.",
        "ownershipPercentage": null,
        "value": null,
        "notes": "Granted to Benton and Sokoman collectively. Killick Lithium Inc. has the right to repurchase 50% of the royalty (1% of the 2%) for $2 million ($1 million each to Benton and Sokoman)."
      }
    ],
    "shareStructure": {
      "authorizedShares": "Unlimited",
      "issuedShares": 10050252,
      "classesOfShares": ["Class A common shares", "Class B common shares"],
      "warrants": [],
      "options": [
        {
          "number": 725000,
          "exercisePrice": 0.48,
          "expiryDate": "2030-07-21"
        },
        {
          "number": 75000,
          "exercisePrice": 0.52,
          "expiryDate": "2030-09-01"
        }
      ],
      "rightsConvertibleInstruments": null
    },
    "managementCompensation": {
      "currency": "CAD",
      "periods": {
        "2025-09-30": {
          "salariesAndBenefits": 45386,
          "consultingFees": 15000,
          "directorsFees": 17500,
          "shareBasedPayments": 133288,
          "total": 211174
        }
      },
      "namedIndividuals": [],
      "otherRelatedPartyTransactions": [
        {
          "counterparty": "Benton Resources Inc.",
          "description": "Reimbursement of exploration expenditures incurred on behalf of the Company, camp lease, geological consulting services, equipment rentals and expense reimbursements included in exploration and evaluation expenditures and general and administrative expenses",
          "amount": 80763,
          "period": "2025-09-30"
        },
        {
          "counterparty": "Sokoman Minerals Corp.",
          "description": "Reimbursement of exploration expenditures incurred on behalf of the Company, camp lease, field consulting services, equipment rentals and expense reimbursements included in exploration and evaluation expenditures",
          "amount": 33421,
          "period": "2025-09-30"
        },
        {
          "counterparty": "Michael Stares",
          "description": "Fees included in consulting fees",
          "amount": 2000,
          "period": "2025-09-30"
        },
        {
          "counterparty": "Gordon Fretwell Law Corporation",
          "description": "Legal and general counsel fees included in professional fees",
          "amount": 45101,
          "period": "2025-09-30"
        }
      ]
    },
    "subsequentEvents": []
  }
]