Examples of Fission 3.0 in a sentence
Such changes are reflected in the assumptions when they occur.Judgements• the recoverability of mineral properties and exploration and evaluation expenditures incurred on its projects; the Company capitalizes acquisition, exploration and evaluation expenditures on its statement of financial position, and evaluates these amounts at least annually for indicators of impairment; and• the functional currency and reporting currency of the parent company, Fission 3.0 Corp., is the Canadian Dollar.
Price risk is the risk that assets or liabilities carried at fair value or future cash flows of a financial instrument will fluctuate because of changes in market conditions.The Company’s exposure to price risk on its Fission 3.0 Corp.
Price risk is the risk that assets or liabilities carried at fair value or future cash flows of a financial instrument will fluctuate because of changes in market conditions.The Company’s maximum exposure to price risk on its Fission 3.0 Corp.
The carrying value of the Company's credit facility approximates its fair value as the company's borrowing rate has remained approximately consistent since the inception of the credit facility.Carrying value of the Company’s investment in Fission 3.0. was determined using Level 1 inputs.
As a result, as at September 30, 2020, the Company no longer had significant influence over Fission 3.0. At that time, the Company ceased to use the equity method to account for its investment in Fission 3.0 and, instead, its shareholdings are recorded at fair value, with the changes in fair value being recognized in the statement of loss.
The Company, through a combination of its shareholding and its common directors and management, had significant influence over Fission 3.0 and accounted for the investment using the equity method up to the period ending September 30, 2020.During the three month period ended September 30, 2020, there was a reduction in the ownership percentage in Fission 3.0 as a result of additional shares being issued through a non- brokered private placement.
On September 28, 2018, Fission participated in a private placement of Fission 3.0 by acquiring 4,000,000 units at a price of $0.10 per unit, for a total price of $400,000.
Each unit consists of one Fission 3.0 common share and one Fission 3.0 common share purchase warrant exercisable for an additional common share until three years from the date of issuance at an exercise price of $0.15, subject to the terms of the warrants, which include an acceleration clause.
In September 2021, Fission 3.0 announced it had extended the expiry date of these warrants by a period of 6 months to March 28, 2022.At the time of acquisition, the fair value of the warrants was determined to be $317,724, based on the Black-Scholes option pricing model and had been recognized as a deferred gain to be recognized over the original three year term of the warrants.
Accordingly, the carrying value of the investment was written down by $1,164,525 to its fair value based on the quoted market price of Fission 3.0’s common shares.On September 28, 2018, Fission 3.0 completed the first tranche of a non-brokered private placement financing by issuing 52,050,000 units at a price of $0.10 per unit, and 9,800,000 Flow Through Shares at a price of $0.10 per share.