$GRO

Brazil Potash Corp.

CIK:0001472326|SEC Filings

Consolidated Statements of Loss and Other Comprehensive Loss - USD ($)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Expenses by nature [abstract]
Consulting and management fees	$ 6,365,395	$ 5,665,486	$ 5,441,156
Professional fees	907,906	2,608,995	1,453,310
Share-based compensation	42,228,494	35,734,452	4,703,254
Travel expense	486,895	578,353	390,531
General office expenses	1,416,581	252,000	120,228
Foreign exchange (gain)	(23,601)	(23,300)	(10,552)
Communications and promotions	3,484,785	1,809,433	1,251,155
Operating Loss	54,866,455	46,625,419	13,349,082
Finance costs	1,008,638
Finance income	(570,446)	(17,808)	(302,720)
Change in fair value of warrant liability	(3,490,900)	(386,900)	0
Gain on sale of fixed assets	(6,078)
Loss for the year before income taxes	51,807,669	46,220,711	13,046,362
Deferred income tax provision	351,451	187,742	160,838
Loss for the year after income taxes	52,159,120	46,408,453	13,207,200
Components of other comprehensive income that will be reclassified to profit or loss, net of tax [abstract]
Foreign currency translation	(7,369,359)	15,941,811	(4,912,866)
Total comprehensive loss for the year	$ 44,789,761	$ 62,350,264	$ 8,294,334
Basic earnings (loss) per share	$ 1.23	$ 1.28	$ 0.37
Diluted earnings (loss) per share	$ 1.23	$ 1.28	$ 0.37
Weighted average number of ordinary shares used in calculating basic earnings per share	42,491,573	36,116,294	35,390,543
Weighted average number of ordinary shares used in calculating diluted earnings per share	42,491,573	36,116,294	35,390,543

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from (used in) operating activities [abstract]
Loss for the year	$ (52,159,120)	$ (46,408,453)	$ (13,207,200)
Adjustments to reconcile profit (loss) [abstract]
Finance costs	375,000	0	0
Finance income	(570,446)	(17,808)	(302,720)
Share-based compensation	42,228,494	35,734,452	4,703,254
Change in fair value of warrant liability	(3,490,900)	(386,900)	0
Gain on sale of fixed assets	(6,078)	0	0
Deferred income tax provision	351,451	187,742	160,838
Cash flows from (used in) operations before changes in working capital	(13,271,599)	(10,890,967)	(8,645,828)
Change in amounts receivable	346,370	(449,674)	19,562
Change in prepaid expenses	161,901	(1,262,023)	(135,897)
Change in trade payables and accrued liabilities	(415,814)	1,326,764	565,410
Net cash used in operating activities	(13,179,142)	(11,275,900)	(8,196,753)
Cash flows from (used in) financing activities [abstract]
Proceeds of private placement, net of issuance costs	26,642,090	0	0
Initial Public Offering, net of issue costs	0	27,979,905	0
Purchase of shares under ELOC, net of issuance costs	5,999,500	0	0
Option exercise	40,000	2,057,500	2,497,500
Warrant exercise	0	1,614,750	0
Principal reduction in lease liability	(229,906)	(42,289)	0
Net cash from financing activities	32,451,684	31,609,866	2,497,500
Cash flows from (used in) investing activities [abstract]
Acquisition of property and equipment	(22,532)	(5,245)	(6,938)
Exploration and evaluation assets	(10,844,549)	(3,779,367)	(3,930,790)
Finance income	570,446	17,808	302,720
Proceeds from disposition of fixed assets	6,078	0	0
Net cash used in investing activities	(10,290,557)	(3,766,804)	(3,635,008)
Effect of exchange rate changes on cash and cash equivalents	(63,348)	(156,372)	(20,407)
NET DECREASE IN CASH AND CASH EQUIVALENTS	8,918,637	16,410,790	(9,354,668)
CASH AND CASH EQUIVALENTS, beginning of year	18,861,029	2,450,239	11,804,907
CASH AND CASH EQUIVALENTS, end of year	27,779,666	18,861,029	2,450,239
SUPPLEMENTAL INFORMATION:
Depreciation of assets capitalized to exploration and evaluation assets	124,387	80,580	4,526
Share-based compensation included in exploration and evaluation assets	840,620	1,682,382	127,670
Value of broker warrants issued	0	519,100	0
Right of use asset and lease liability at inception	0	737,506	0
Amendment to right of use asset and lease liability	40,973	0	0
Lease finance interest capitalized to exploration and evaluation assets	83,862	55,795	0
Gain on lease amendment credited to exploration and evaluation assets	$ (2,317)	$ 0	$ 0

Consolidated Statements of Financial Position - USD ($)	Dec. 31, 2025	Dec. 31, 2024
Current assets [abstract]
Cash and cash equivalents	$ 27,779,666	$ 18,861,029
Amounts receivable	248,570	594,940
Prepaid expenses	1,333,875	1,494,483
Total current assets	29,362,111	20,950,452
Non-current
Property and equipment	908,650	791,597
Right of use asset	496,076	527,862
Exploration and evaluation assets	138,280,668	118,785,555
Total assets	169,047,505	141,055,466
Current
Trade payables and accrued liabilities	2,622,889	3,016,988
Current portion of lease liability	99,975	70,305
Total current liabilities	2,722,864	3,087,293
Non-current
Lease liability	454,174	535,300
Warrant liability	5,559,800	132,200
Deferred income tax liability	2,472,938	1,880,387
Total liabilities	11,209,776	5,635,180
Equity
Share capital	328,544,223	281,296,133
Share-based payments reserve	95,624,841	93,515,510
Warrants reserve	5,758,671	543,601
Accumulated other comprehensive loss	(73,991,935)	(81,361,294)
Deficit	(198,098,071)	(158,573,664)
Total equity	157,837,729	135,420,286
Total liabilities and equity	$ 169,047,505	$ 141,055,466