COMMON STOCK |
6 Months Ended |
|---|---|
Jan. 31, 2017 | |
| Stockholders' Equity Note [Abstract] | |
| COMMON STOCK | NOTE 6 - COMMON STOCK
Authorized Stock
The Company has authorized 300,000,000 shares of common stock with a par value of $0.001 per share. Each share of common stock entitles the holder to one vote, in person or proxy, on any matter on which action of the stockholders of the corporation is sought.
Issued and Outstanding Stock
There were 52,042,286 shares of common stock issued and outstanding as at January 31, 2017 and July 31, 2016.
On January 27, 2017, the Company filed a registration statement with the Securities and Exchange Commission (“SEC”) on Form S-1 under the Securities Act of 1933, as amended, to register the offer and sale of up to 10,000,000 common shares of the Company at a price of $0.1695 per share. The Company plans to use the proceeds from this offering to fund the acquisition of the 17.6% equity interest in Mineracao Batovi, provide working capital and expand the business. The registration statement remains under review by the SEC and the offering has not commenced.
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