The Company and partners plan to secure 30% clean energy government capital grant and loan guarantees to finance 100% of the project construction costs
From yesterday
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If we cannot generate sufficient capital to continue operations, we will suspend or cease operations. If we cease operations, we do not know what we will do and we do not have any plans to do anything else. If this occurs, you will lose all of your investment.
Limited operating history; need for additional capital
There is no historical financial information about us upon which to base an evaluation of our performance. We are in start-up stage operations and have not generated any revenues. We cannot guarantee we will be successful in our business operations. Our business is subject to risks inherent in the oil and gas exploration business, including political risks associated with the Arctic Claim, limited ice-capable exploration equipment resources available for hire or purchase, market price variations for oil and gas, limited capital resources and possible cost overruns due to price and cost increases in services and products.
We have no assurance that future oil and gas exploration-development financing will be available to us on acceptable terms. If financing is not available on satisfactory terms, we may be unable to continue, develop or expand our operations. Equity financing could result in additional dilution to existing shareholders.
As of today.
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