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Capital 10X

The Full Initiation Report Can be Found HERE

Disclosures

About Capital10X

Capital10Xprovides institutional quality research on public equities in North America. Our investment philosophy takes a medium-term view on equities currently being overlooked by the market. Our research process emphasizes understanding the key performance metrics for each specific company, quality of management, unit economics, and an in-depth valuation analysis.

Analyst Certification

Each authoring analyst on this report certifies that (1) the recommendations and opinions expressed in this research accurately reflect the authoring analyst’s personal, independent and objective views about any and all of the designated securities discussed (2) no part of the authoring analyst’s compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed in the research, (3) to the best of the authoring analyst’s knowledge, she/he is not in receipt of material non-public information about the issuer, (4) the analyst does not own common shares, options, or warrants in the company under coverage.

General Information

Capital 10X Research has created and distributed this report. This report is based on information we considered reliable; we have not been provided with any material non-public information by the company (or companies) discussed in this report. We do not represent that this report is accurate or complete and it should not be relied upon as such; further any information in this report is subject to change without any formal or type of notice provided. Investors should consider this report as only one factor in their investment decisions; this report is not intended as a replacement for investor’s independent judgment.  Capital10X is not an IIROC registered dealer and does not offer investment-banking services to its clients. Capital10X (and its employees) do not own, trade or have a beneficial interest in the securities of the companies we provide research services for and does not serve as an officer or Director of the companies discussed in this report. Capital10X does not make a market in any securities. This report is not disseminated in connection with any distribution of securities and is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal. Capital10X does not make any warranties, expressed or implied, as to the results to be obtained from using this information and makes no express or implied warranties for particular use. Anyone using this report assumes full responsibility for whatever results they obtain. This does not constitute a personal recommendation or take into account any financial or investment objectives, financial situations or needs of individuals. This report has not been prepared for any particular individual or institution. Recipients should consider whether any information in this report is suitable for their particular circumstances and should seek professional advice. Past performance is not a guide for future results, future returns are not guaranteed, and loss of original capital may occur. Neither Capital10X nor any person employed by Capital10X accepts any liability whatsoever for any direct or indirect loss resulting from any use of its research or the information it contains. This report contains “forward looking” statements.

Forward-looking statements regarding the Company and/or stock’s performance inherently involve risks and uncertainties that could cause actual results to differ from such forward-looking statements. Such statements involve a number of risks and uncertainties such as competition, technology shifts, market demand and the company’s (and management’s) ability to correctly forecast financial estimates; please see the company’s MD&A “Risk Factors” Section for a more complete discussion of company specific risks for the company discussed in this report. 

Capital10X has received cash compensation from Cambria Gold Mines for 12 months of research coverage. This report was disseminated on behalf of Cambria Gold Mines. Capital10X retains full editorial control over its research content. Capital10X does not have investment banking relationships and does not expect to receive any investment banking driven income. Capital10X reports are primarily disseminated electronically and, in some cases, printed form. Electronic reports are simultaneously available to all recipients in any form. Reprints of Capital10X reports are prohibited without permission.

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This report has been prepared independently of any issuer of securities mentioned herein and not as agent of any issuer of securities. No Capital10X personnel have authority whatsoever to make any representations or warranty on behalf of the Company. Any comments or statements made herein are those of Capital10X only. The information contained herein is not, and under no circumstances is to be construed as, an offer to sell securities described herein, or solicitation of an offer to buy securities described herein, in Canada or any province or territory thereof.

Any offer or sale of the securities described herein in Canada will be made only under an exemption from the requirements to file a prospectus with the relevant Canadian securities regulators, if applicable, and only by a dealer properly registered under applicable securities laws or, alternatively, pursuant to an exemption from the dealer registration requirement in the relevant province or territory of Canada in which such offer or sale is made. The information contained herein is under no circumstances to be construed as investment advice in any province or territory of Canada and is not tailored to the needs of the recipient. To the extent that the information contained herein references securities of an issuer incorporated, formed or created under the laws of Canada or a province or territory of Canada, any trades in such securities must be conducted through a dealer registered in Canada. No securities commission or similar regulatory authority in Canada has reviewed or in any way passed judgment upon this research report, the information contained herein or the merits of the securities described herein, and any representation to the contrary is an offence. The information contained in this report is intended to be viewed only in jurisdictions where it may be legally viewed and is not intended for use by any person or entity in any jurisdiction where such use would be contrary to local regulations or which would require any registration requirement within such jurisdiction.