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Calgary, Alberta–(April 28, 2022) – Athabasca Minerals Inc. (TSXV: AMI) (“Athabasca” or the “Corporation”) announces its financial results for the fourth-quarter and year-ended December 31, 2021. The Corporation’s 2021 Financial Statements, Management’s Discussion and Analysis (“MD&A”), and its Annual Information Form (“AIF”) are available on SEDAR at www.sedar.com and on the Athabasca Minerals Inc. website at www.athabascaminerals.com. The Corporation also announces that it has approved a grant of options to select directors, management and employees as part of the company’s stock option replenishment program.
Q4 2021 & Year End Results
In the fourth quarter of 2021, Athabasca reported consolidated gross revenue growth by 538% to $3.28 million vs. $0.5 million in Q4 2020 with a total loss and comprehensive loss of $0.64 million vs. $0.9 million in Q4 2020. The Corporation increased its gross revenue by 494% to $12.1 million in 2021 vs. $2.0 million in 2020 with a total loss and comprehensive loss of $2.2 million vs. a loss of $3.5 million in 2020.
Robert Beekhuizen, Chief Executive Officer, states: “2021 was a pivotal year for our company as we pursued new initiatives and strategies focused on revenue growth and overall corporate performance. We are excited about what we have accomplished and are positioned well to continue our growth throughout 2022. We are committed to driving all of our divisions forward and creating opportunities that will result in successes for AMI and increased value for our shareholders.”
Athabasca Minerals reports the following key highlights for Q4-2021 and subsequent highlights for 2022:
FISCAL MANAGEMENT & REPORTING
FINANCIAL AND OPERATIONAL HIGHLIGHTS
|Three months ended December 31,||Years ended December 31,|
|2021||2020||% Change||2021||2020||% Change|
|Services revenue||$ 2,475,780||$124,925||1882%||$ 9,093,507||$ 514,181||1669%|
|Product sales revenue||805,233||389,222||107%||3,035,742||1,527,186||99%|
|Gross revenue, including royalties||3,281,013||514,147||538%||12,129,249||2,041,367||494%|
|Less: provincial royalties||(139,316)||–||0%||(337,638)||(96,187)||-251%|
|Gross revenue, net of royalties||3,141,697||514,147||511%||11,791,611||1,945,180||506%|
|Gross profit (loss)||74,635||(87,812)||185%||1,104,778||(399,328)||377%|
|Gross profit (loss) percent||2%||-17%||9%||-21%|
|Other non-operating income||43,810||76,012||-42%||206,438||393,277||-48%|
|Total loss and comprehensive loss||$ (643,621)||$(934,533)||31%||$ (2,187,088)||$ (3,530,525)||38%|
|Loss per share, basic ($ per share)||(0.009)||(0.017)||50%||(0.032)||(0.071)||50%|
|Loss per share, fully diluted ($ per share)||(0.009)||(0.017)||50%||(0.032)||(0.071)||50%|
GRANT OF STOCK OPTIONS
ABOUT ATHABASCA MINERALS INC.
Athabasca Minerals is an integrated group of companies capable of full life-cycle development and supply of aggregates and industrial minerals. The Corporation is comprised of the following business units: AMI Silica, (www.amisilica.com) with resource holdings and business interests in Alberta, North-East BC, and the United States; AMI Aggregates, with aggregates from its corporate pits and which manages the Coffey Lake Public Pit for the Government of Alberta; Métis North Sand & Gravel which is a strategic partnership with the McKay Métis Group to deliver aggregates to the energy, infrastructure, and construction sectors in the Wood Buffalo region; AMI RockChain, a technology-enabled business using its proprietary RockChain™ digital platform, automated supply-chain and logistics solutions, quality-assurance & safety programs to deliver products across Canada; and TerraShift Engineering which conducts resource exploration, regulatory, mining, environmental and reclamation engineering for a growing nation-wide customer base and is also the developer of its proprietary TerraMaps™ software.
For further information, please contact:
Cheryl Grue, Director, Corporate Affairs
Tel: 587-392-5862 / Email: [email protected]
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