Snow Lake Resources Ltd. Files Amended 20-F for Fiscal Year Ended June 30, 2023

Ticker: LITM · Form: 20-F/A · Filed: Mar 25, 2024 · CIK: 1769697

Sentiment: neutral

Topics: Snow Lake Resources, 20-F/A, SEC Filing, Mining, Financials

TL;DR

<b>Snow Lake Resources Ltd. has filed an amended 20-F for the fiscal year ending June 30, 2023, with the SEC.</b>

AI Summary

Snow Lake Resources Ltd. (LITM) filed a Amended Foreign Annual Report (20-F/A) with the SEC on March 25, 2024. Filing is an amended Form 20-F for Snow Lake Resources Ltd. The reporting period covered is the fiscal year ended June 30, 2023. The filing date is March 25, 2024. The company's SIC code is 1090 (Miscellaneous Metal Ores). Business and mailing addresses are in Winnipeg, Manitoba, Canada.

Why It Matters

For investors and stakeholders tracking Snow Lake Resources Ltd., this filing contains several important signals. This amended filing provides updated financial and operational information for the fiscal year. As a mining company, timely and accurate SEC filings are crucial for investor confidence and regulatory compliance.

Risk Assessment

Risk Level: low — Snow Lake Resources Ltd. shows low risk based on this filing. The filing is an amendment to a previous report, indicating potential corrections or updates rather than new material events, thus posing a low immediate risk.

Analyst Insight

Review the specific amendments made in this 20-F/A filing to understand any changes in Snow Lake Resources Ltd.'s financial position or operational disclosures.

Key Numbers

Key Players & Entities

FAQ

When did Snow Lake Resources Ltd. file this 20-F/A?

Snow Lake Resources Ltd. filed this Amended Foreign Annual Report (20-F/A) with the SEC on March 25, 2024.

What is a 20-F/A filing?

A 20-F/A is a amendment to a foreign private issuer annual report. This particular 20-F/A was filed by Snow Lake Resources Ltd. (LITM).

Where can I read the original 20-F/A filing from Snow Lake Resources Ltd.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Snow Lake Resources Ltd..

What are the key takeaways from Snow Lake Resources Ltd.'s 20-F/A?

Snow Lake Resources Ltd. filed this 20-F/A on March 25, 2024. Key takeaways: Filing is an amended Form 20-F for Snow Lake Resources Ltd.. The reporting period covered is the fiscal year ended June 30, 2023.. The filing date is March 25, 2024..

Is Snow Lake Resources Ltd. a risky investment based on this filing?

Based on this 20-F/A, Snow Lake Resources Ltd. presents a relatively low-risk profile. The filing is an amendment to a previous report, indicating potential corrections or updates rather than new material events, thus posing a low immediate risk.

What should investors do after reading Snow Lake Resources Ltd.'s 20-F/A?

Review the specific amendments made in this 20-F/A filing to understand any changes in Snow Lake Resources Ltd.'s financial position or operational disclosures. The overall sentiment from this filing is neutral.

How does Snow Lake Resources Ltd. compare to its industry peers?

Snow Lake Resources Ltd. operates in the miscellaneous metal ores sector, focusing on mining activities.

Are there regulatory concerns for Snow Lake Resources Ltd.?

As a foreign private issuer, Snow Lake Resources Ltd. files annual reports on Form 20-F with the SEC, adhering to US securities regulations.

Industry Context

Snow Lake Resources Ltd. operates in the miscellaneous metal ores sector, focusing on mining activities.

Regulatory Implications

As a foreign private issuer, Snow Lake Resources Ltd. files annual reports on Form 20-F with the SEC, adhering to US securities regulations.

What Investors Should Do

  1. Analyze the specific changes and additions in the amended 20-F/A filing.
  2. Verify if the amendments address any previously identified discrepancies or provide new material information.
  3. Assess the impact of any disclosed financial or operational updates on the company's valuation.

Key Dates

Year-Over-Year Comparison

This is an amended filing (20-F/A), indicating updates or corrections to a previously submitted report.

Filing Stats: 4,578 words · 18 min read · ~15 pages · Grade level 12.9 · Accepted 2024-03-25 16:58:27

Key Financial Figures

Filing Documents

Risk Factors

Risk Factors 3 Item 4. Information On the Company 19 A. History and Development of The Company 19 B. Business overview 22 C. Organizational structure 81 D. Property, plants and equipment 82 Item 4A. Unresolved Staff Comments 82 Item 5. Operating and Financial Review and Prospects 82 A. Operating Results 82 B. Liquidity and Capital Resources 88 C. Research and development 90 D. Trend Information 90 E . Critical Accounting Estimates 91 Item 6. Directors, Senior Management and Employees 93 A. Directors and senior management 93 B. Compensation 95 C. Board practices 98 D. Employees 102 E. Share ownership 102 Item 7. Major Shareholders and Related Party Transactions 104 A. Major shareholders 104 B. Related party transactions 104 C. Interests of experts and counsel 105 Item 8. Financial Information 106 A. Consolidated Statements and Other Financial Information 106 B. Significant Changes 106 Item 9. The Offer and Listing 107 A. Offer and listing details 107 B. Plan of distribution 107 C. Markets 107 D. Selling shareholders 107 E.

Dilution

Dilution 107 F. Expenses of the issue 107 i Item 10. Additional Information 107 A. Share capital 107 B. Memorandum and articles of association 107 C. Material contracts 107 D. Exchange controls 107 E. Taxation 108 F. Dividends and Paying Agents 115 G. 115 H. Documents on Display 115 I. Subsidiary Information 115 Item 11.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 116 Item 12.

Description of Securities Other Than Equity Securities

Description of Securities Other Than Equity Securities 116 A. Debt Securities 116 B. Warrants and Rights 116 C. Other Securities 116 D. American Depositary Shares 116 PART II Item 13. Defaults, Dividend Arrearages and Delinquencies 117 117 Item 14. Material Modifications to The Rights Of Security Holders And Use Of Proceeds 117 Item 15.

Controls and Procedures

Controls and Procedures 118 Item 16 [Reserved] 119 Item 16A — Audit Committee Financial Expert 119 Item 16B — Code of Ethics 119 Item 16C — Principal Accountant Fees and Services 119 Item 16D — Exemption from the Listing Standards for Audit Committees 120 Item 16E — Purchases of Equity Securities by the Issuer and Affiliated Purchasers 120 Item 16F — Change in Registrant's Certifying Accountant 120 Item 16G — Corporate Governance 120 Item 16H — Mine Safety Disclosure 121 Item 16I — Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 121 PART III Item 17.

Financial Statements

Financial Statements 122 Item 18.

Financial Statements

Financial Statements 122 Item 19. Exhibits 122 ii CERTAIN INFORMATION As used in this Annual Report on Form 20-F (the "Annual Report"), unless otherwise indicated or the context otherwise requires, references to "we," "Snow Lake," "us," "our," "the Company," or "our company" are to Snow Lake Resources Ltd., including its subsidiaries; "common shares" are to our common shares, no par value; and "NASDAQ" are to the Nasdaq Capital Market. In this Annual Report on Form 20-F, references to "Canada" are to Canada and its provinces and territories and references to "$," "USD," "dollars," "USD$" or "U.S. dollars" are to the legal currency of the United States and references to "C$," or "Canadian dollar" are to the legal currency of Canada. Solely for the convenience of the reader, this Annual Report on Form 20-F contains translations of certain Canadian dollar amounts into U.S. dollars at specified rates. Except as otherwise stated in this Annual Report on Form 20-F, all translations from Canadian dollar to U.S. dollars are based on the closing rate of C$1.3240 per $1.00 for cable transfers of Canadian dollars, as certified by Bank of Canada on June 30, 2023. On October 30, 2023, the closing rate for Canadian dollar was C1.3833 per US$1.00. No representation is made that such Canadian dollar amounts referred to in this Annual Report on Form 20-F could have been or could be converted into U.S. dollars at such rates or any other rates. Any discrepancies in any table between totals and sums of the amounts listed are due to rounding. The audited consolidated financial statements and notes thereto as of and for fiscal 2023, 2022 and 2021 included elsewhere in this Annual Report on Form 20-F have been prepared in accordance with International Financial Reporting Standards, or IFRS. Our fiscal year end is June 30. Share Consolidation ("Reverse Split") On October 7, 2021, we effectuated a one-for-five reverse stock split of our common shares, or the Reverse Sp

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report contains forward-looking statements that are based on our management's beliefs and assumptions and on information currently available to us. All statements other than statements of historical facts are forward-looking statements. The forward-looking statements are contained principally in, but not limited to, the sections entitled "Risk Factors", "Information on the Company", "Operating and Financial Review and Prospects," and elsewhere in this Annual Report. These statements relate to future events or to our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Forward-looking statements include, but are not limited to, statements about: our goals and strategies; expectations regarding revenue, expenses and operations; our having sufficient working capital and be able to secure additional funding necessary for the continued exploration of our property interests; expectations regarding the potential mineralization, geological merit and economic feasibility of our projects; expectations regarding exploration results at the Snow Lake Lithium Project; mineral exploration and exploration program cost estimates; expectations regarding any environmental issues that may affect planned or future exploration programs and the potential impact of complying with existing and proposed environmental laws and regulations; receipt and timing of exploration permits and other third-party approvals; government regulation of mineral exploration and development operations; expectations regarding any social or local community issues that may affected planned or future exploration and development programs; and key personnel continuing their

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable.

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable.

KEY INFORMATION

ITEM 3. KEY INFORMATION 3.A. [Reserved] 3.B. Capitalization and Indebtedness Not applicable. 3.C . Reasons for the Offer and Use of Proceeds Not applicable. 3.D. Risk Factors You should carefully consider all of the information in this Annual Report, including various changing regulatory, competitive, economic, political and social risks and conditions described below, before making an investment in our common shares. One or more of a combination of these risks could materially impact our business, results of operations and financial condition. In any such case, the market price of our common shares could decline, and you may lose all or part of your investment. Our Risks and Challenges Our prospects should be considered in light of the risks, uncertainties, expenses and difficulties frequently encountered by similar companies. Our ability to realize our business objectives and execute our strategies is subject to risks and uncertainties, including, among others, the following summary risk factors set forth in more detail below: We have a limited operating history and have not yet generated any revenues; Our financial statements have been prepared on a going concern basis and our financial status creates a doubt whether we will continue as a going concern; If we do not obtain additional financing, our business may be at risk or execution of our business plan may be delayed; Future pandemics, such as the recent coronavirus pandemic may cause a material adverse effect on our business; We have obtained an S-K 1300 compliant mineral resource report which represented only estimates and no assurance can be given that any anticipated tonnages and grades will be achieved, or that the indicated level of recovery will be realized. Further drilling will be required to determine whether the Snow Lake Lithium Project contains proven or probable mineral reserves and there can be no assurance that we will be successful in our efforts to prove our resource.

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