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CALGARY, Alberta, April 20, 2021 (GLOBE NEWSWIRE) — Canadian Spirit Resources Inc. (“CSRI” or the “Corporation”)
(TSXV:SPI)
(OTCBB:CSPUF) announces the release of its financial results for the three and twelve months ended December 31, 2020 including the filing of its 2020 annual audited Financial Statements, Management Discussion and Analysis (“MD&A”), and Forms 51- 101F1, F2 and F3.
This news release summarizes information contained in the audited Financial Statements and MD&A for the year ended December 31, 2020 and should not be considered a substitute for reading these full disclosure documents, and the Forms 51-101F1, F2 and F3, which are available on SEDAR at www.sedar.com or the Corporation’s website at www.csri.ca.
CSRI is a natural resources company focused on the identification and development of opportunities in the unconventional natural gas sector of the energy industry.
SELECTED
FINANCIAL
DATA
(all
amounts
are
presented
in
Canadian
dollars,
unless
otherwise
indicated)
| Three months ended December 31, |
Twelve months ended December 31, |
|||||||||||
| 2020 | 2019 | 2020 | 2019 | |||||||||
|
Average sales volumes of natural gas (mcf/d) |
– |
– |
– |
–Average sales price of natural gas ($/mcf)––––Petroleum and natural gas sales$ –$ –$ –$ –Operating netback$ (6,199)$ (68,573)$ (204,767)$ (304,586)Cash flow from operating activities$ (59,345)$ (252,443)$ (795,351)$ (1,169,546)Earnings (loss) and comprehensive loss$ (346,185)$ (105,565)$ (1,978,122)$ (1,421,434)– per share basic and diluted$ (0.00)$ (0.00)$ (0.01)$ (0.01)Capital expenditures$ 254,133$ 83,172$ 344,702$ 179,833As at December 31,20202019 |
||||||||
|
Working capital |
$ |
464,264 |
$ |
588,325 |
||||||||
| Total assets | $ | 39,132,048 | $ | 38,595,074 | ||||||||
| Total debt | $ | – | $ | – | ||||||||
| Shareholders’ capital | $ | 36,047,484 | $ | 36,377,845 | ||||||||
| Number of common shares outstanding | 228,177,583 | 196,177,583 | ||||||||||
WARRANTS
CSRI is pleased to announce that all 20,000,000 of the share purchase warrants issued November 9, 2020 (with an expiry term of two year) have been exercised at a price of
$0.08 per warrant.
As a result of the exercise of these warrants, the Corporation now has 248,177,583 common shares outstanding.
CSRI is a natural resources Corporation focusing on the identification and development of opportunities in the unconventional natural gas sector of the energy industry.
Information regarding CSRI is available on SEDAR at www.sedar.com or the Corporation’s website at www.csri.ca.
Information regarding CSRI is available on SEDAR at www.sedar.com or the Corporation’s website at www.csri.ca.
For further information, please contact: Canadian Spirit Resources Inc.
Telephone (403) 618-2113
Louisa DeCarlo (louisa.decarlo@csri.ca)
The corporate information contained in this news
release may
contain forward-looking forecast information.
The
reader is cautioned that assumptions used in the preparation of such information, although considered reasonably
accurate by CSRI
at
the time of
preparation,
may
prove to be incorrect.
The actual
results achieved during the
forecast
period
will
vary
from
the
information
provided
herein
and
the
variations
may
be
material.
Consequently,
there
is
no
representation
by
CSRI
that
actual
results
achieved
during
the
forecast
period
will
be
the
same
in
whole
or
in
part
as
those
forecast.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE
