SEDAR Interim Financial Statements

[
  {
    "companyName": "Granada Gold Mine Inc.",
    "reportingPeriodEnd": "2025-12-31",
    "reportStatus": "Unaudited",
    "auditorName": null,
    "auditorKeyMatters": [],
    "balanceSheet": {
      "cash": 13420,
      "amountsReceivable": 50288,
      "prepaidExpenses": 31849,
      "marketableSecurities": 73970,
      "totalCurrentAssets": 169527,
      "reclamationDeposit": 384421,
      "propertyAndEquipment": 31202,
      "totalAssets": 585150,
      "tradePayablesAccruedLiabilitiesAndProvisions": 13249511,
      "flowThroughPremium": 0,
      "securedLoansPayable": 1563285,
      "totalCurrentLiabilities": 14812796,
      "provisionForSiteReclamationAndRestoration": 383264,
      "totalLiabilities": 15196060,
      "shareCapital": 74284042,
      "reserves": 415444,
      "deficit": -89310396,
      "totalDeficit": -14610910,
      "totalLiabilitiesAndDeficit": 585150,
      "cashPerShare": 0.0001,
      "workingCapitalPerShare": -0.0891
    },
    "incomeStatement": {
      "explorationAndEvaluationExpenses": 262656,
      "administrativeAndGeneralExpenses": 25434,
      "financingFees": 74742,
      "professionalFees": 395964,
      "filingCostsAndShareholderInformation": 16708,
      "travel": 0,
      "totalCorporateExpenses": 512848,
      "totalExpenses": 775504,
      "equipmentRental": 0,
      "interestAndOtherExpensesIncome": -76312,
      "stockBasedCompensation": 248185,
      "partXii6PenaltyAndInterest": 68892,
      "flowThroughIndemnificationActionProvision": 242113,
      "unrealizedLossGainOnMarketableSecurities": -36604,
      "lossOnSaleOfEquipment": 0,
      "lossOnSettlementOfDebt": 0,
      "totalOtherExpensesIncome": 446274,
      "netAndComprehensiveLossForThePeriod": 1221778,
      "weightedAverageNumberOfSharesOutstandingBasicAndDiluted": 165116549,
      "basicAndDilutedLossPerShare": 0.007
    },
    "cashFlowStatement": {
      "netLoss": -1221778,
      "depreciation": 4575,
      "stockBasedCompensation": 248185,
      "interestOnSecuredLoansPayable": 61597,
      "partXii6PenaltiesAndInterest": 68892,
      "flowThroughIndemnificationProvision": 242113,
      "unrealizedLossGainOnMarketableSecurities": -36603,
      "changeInProvisionForReclamationAndRestoration": 3203,
      "lossOnSaleOfEquipment": 0,
      "gainOnSettlementOfDebt": 0,
      "otherIncome": -76312,
      "changesInNonCashWorkingCapitalItemsAmountsReceivable": -27887,
      "changesInNonCashWorkingCapitalItemsPrepaidExpenses": -6504,
      "changesInNonCashWorkingCapitalItemsTradePayablesAccruedLiabilitiesAndProvisions": 742926,
      "netCashGeneratedFromUsedInOperatingActivities": 2407,
      "proceedsFromSaleOfEquipment": 0,
      "totalCashGeneratedFromInvestingActivities": 0,
      "netProceedsFromShareIssuanceForCash": 0,
      "totalCashGeneratedFromFinancingActivities": 0,
      "increaseDecreaseInCash": 2407,
      "cashBeginningOfThePeriod": 11013,
      "cashEndOfThePeriod": 13420
    },
    "investmentsAndOtherAssets": [
      {
        "type": "Marketable Securities",
        "description": "Common shares and warrants of Nord Precious Metals Mining Inc. and Coniagas Battery Metals Inc.",
        "ownershipPercentage": null,
        "value": 73970,
        "notes": "Fair value based on quoted market prices (Level 1) and Black-Scholes model (Level 2)."
      },
      {
        "type": "Mineral Property",
        "description": "Granada Property, Quebec, Canada - 100% interest in mining leases and claims.",
        "ownershipPercentage": 100,
        "value": null,
        "notes": "Subject to royalties (2% GMR, 1% NSR). Exploration expenditures expensed as not yet technically feasible/commercially viable."
      },
      {
        "type": "Reclamation Deposit",
        "description": "Deposit with Ministère des Ressources naturelles et des Forêts (MERN) of Quebec for future site restoration obligations.",
        "ownershipPercentage": null,
        "value": 384421,
        "notes": "Refundable upon satisfactory completion of reclamation work or transfer of obligations."
      }
    ],
    "shareStructure": {
      "authorizedShares": "Unlimited",
      "issuedShares": 165116549,
      "classesOfShares": ["Common shares"],
      "warrants": [
        {
          "number": 571428,
          "exercisePrice": 0.05,
          "expiryDate": "2027-12-27"
        }
      ],
      "options": [
        {
          "number": 1525000,
          "exercisePrice": 0.05,
          "expiryDate": "2026-02-14"
        },
        {
          "number": 2300000,
          "exercisePrice": 0.05,
          "expiryDate": "2029-06-04"
        },
        {
          "number": 5400000,
          "exercisePrice": 0.05,
          "expiryDate": "2030-09-16"
        }
      ],
      "rightsConvertibleInstruments": "One secured loan (Note 11) includes a conversion feature with an equity portion of $37,428."
    },
    "managementCompensation": {
      "currency": "CAD",
      "periods": {
        "sixMonthsEndedDec312025": {
          "companyOwnedByTheCEO": 220000,
          "companyOwnedByTheCFO": 30000,
          "corporateSecretary": 36000,
          "companyOwnedByARelativeOfTheCEO": 12000,
          "companyThatTheFormerCFOIsEmployedWith": 17531,
          "shareBasedCompensation": 211416,
          "total": 526947
        },
        "sixMonthsEndedDec312024": {
          "companyOwnedByTheCEO": 220000,
          "corporateSecretary": 36000,
          "companyOwnedByARelativeOfTheCEO": 12000,
          "companyThatTheFormerCFOIsEmployedWith": 29490,
          "total": 297490
        }
      },
      "namedIndividuals": [
        {
          "name": "Frank Basa",
          "title": "Director, CEO",
          "period": "Six months ended Dec 31, 2025",
          "components": {
            "salary": 220000,
            "bonus": null,
            "total": 220000
          }
        },
        {
          "name": "Heidi Gutte",
          "title": "CFO",
          "period": "Six months ended Dec 31, 2025",
          "components": {
            "salary": 30000,
            "bonus": null,
            "total": 30000
          }
        }
      ],
      "otherRelatedPartyTransactions": [
        {
          "counterparty": "Nord Precious Metals Mining Inc.",
          "description": "Equipment rental revenue",
          "amount": 0,
          "period": "Six months ended Dec 31, 2025"
        },
        {
          "counterparty": "Various related parties (Note 15)",
          "description": "Amounts due for services, fees, and expenses",
          "amount": 4899240,
          "period": "As at Dec 31, 2025"
        },
        {
          "counterparty": "Related parties (director/relative)",
          "description": "Secured loans payable",
          "amount": 1196641,
          "period": "As at Dec 31, 2025"
        }
      ]
    },
    "subsequentEvents": [
      {
        "eventDate": "2026-02-18",
        "description": "Closed private placement issuing 58,949,400 Units at $0.05 per Unit for gross proceeds of $2,947,470. Each Unit comprises one common share and one warrant exercisable at $0.075 for 5 years. Subject to TSXV approval.",
        "impactValue": 2947470
      },
      {
        "eventDate": "2026-02-10",
        "description": "Issued 200,000 common shares upon exercise of stock options for gross proceeds of $10,000.",
        "impactValue": 10000
      },
      {
        "eventDate": "2026-01-20",
        "description": "Issued 3,000,000 common shares to settle $300,000 of debt owed to non-arm’s length creditors.",
        "impactValue": 300000
      },
      {
        "eventDate": "After Dec 31, 2025",
        "description": "Borrowed an additional $526,112 cash from Nord. Unsecured, non-interest bearing, no fixed repayment term.",
        "impactValue": 526112
      }
    ]
  }
]