We are an exploration stage mining company engaged in the identification, acquisition,
and exploration of metals and minerals with a focus on base and precious metals.
Our current operational focus is to raise sufficient funds to continue exploration
activities on our property in Labrador, Canada, known as the Cache River Property.
We expect to review other potential exploration projects from time to time as
they are presented to us.
Concurrent with our exploration activities we will continue to evaluate opportunities
to diversify our business through merger or acquisition, and to assist Enigma
to raise the $2,500,000 in financing required to complete our reverse acquisition
pursuant to the Share Exchange and Royalty Agreement.
On April 19, 2016, Wolverine entered into a Share Purchase Agreement with our
Director, David Chalk, pursuant to which we have agreed to issue in a private
placement 400,000,000 shares of our common stock in consideration for one-third
of the net proceeds that Mr. Chalk may realize from the sale of Mr. Chalk’s
15% equity interest in Decision-Zone Inc., a privately held cyber-security software
company based in Ontario, Canada. The Agreement is subject to our Company increasing
its authorized capital to allow for the issuance of the consideration shares.
As of the date of this filing, the agreement has not yet closed.
Our business is conducted by independent contractors which include our officers
and directors, among others. As of May 31, 2017, the company had three consultants
(PubCo Services Inc. (Richard Haderer), Texada Consulting Inc. (Bruce Costerd),
and David Chalk engaged on a non-exclusive, part time basis, and several other
IR, administrative, and accounting consultants who are engaged on an intermittent,
as needed basis. Our business plan does not anticipate that we will hire a large
number of employees or that we will require extensive office space. We have
to date, and plan to continue to acquire most of the industry and geological
expertise we require through third party contractual relationships with other
companies, which will act as operators of our various interests. Although this
exposes us to certain risks on behalf of those operators, it also allows us
to participate in the often unique experience and knowledge that local persons
have related to certain properties.
We have suffered recurring losses from operations and anticipate generating
loses for the foreseeable future. The continuation of our business is dependent
upon obtaining further financing, completing a successful program of exploration
and/or development, and, finally, achieving a profitable level of operations.
The issuance of additional equity securities by us could result in a significant
dilution in the equity interests of our current stockholders. Obtaining commercial
loans, assuming those loans would be available, will increase our liabilities
and future cash commitments.
There are no assurances that we will be able to obtain further funds required
for our continued operations. As noted herein, we are pursuing various financing
alternatives to meet our immediate and long-term financial requirements. There
can be no assurance that additional financing will be available to us when needed
or, if available, that it can be obtained on commercially reasonable terms.
If we are not able to obtain the additional financing on a timely basis, we
will be unable to conduct our operations as planned, and we will not be able
to meet our other obligations as they become due. In such event, we will be
forced to scale down or perhaps even cease our operations.
The Company has one current mineral project known as the Cache River Property.
We have not yet determined if the Cache River Property contains mineral reserves
that are economically recoverable.
