21. Subsequent Events

The Company's management has evaluated subsequent events up to the date the condensed consolidated financial statements were issued, pursuant to the requirements of ASC 855 and has determined the following to be material subsequent events:

(a) On February 1, 2025, the Company signed an extension to May 29, 2025, to repay the principal amount of $2,085,000 (C$3,000,000) plus accrued interest to January 31, 2025 and legal fees. Effective February 1, 2025, the principal amount is accruing interest at a fixed rate of twelve and one-half percent (12.5%), compounded daily.

(b) On February 18, 2025, Travellers entered into a private placement for 6,000,000 common shares of the Company for $120,000, priced at $0.02 per share.

(c) On March 3, 2025 the Company received a notice from the Ontario Supreme Court of Justice for unpaid fees with the Company's predecessor auditors. The outstanding amount includes fees of $49,401 (C$71,081), which is included under accounts payable in the consolidated balance sheets and interest charged of $27,158 (C$39,076), which has not been provided for, in total $76,559 (C$110,157).  On May 6, 2025, the Company received an amended notice of motion returnable the week of May 19, 2025. The plaintiff would also seek to recover other costs and disbursements along with additional interest.

(d) On March 10, 2025, the City provided 1684567, the owner of the property at the Belleville Facility with a statement of outstanding property taxes, annual road maintenance assessments, interest, penalties and related totaling $156,936 (C$225,807). The outstanding property taxes, including annual road maintenance costs, interest and penalties at December 31, 2024, are included in accounts payable in the consolidated balance sheets.

(e) On March 10, 2025, the Company signed a service agreement for the refurbishment of the Belleville Facility to operational readiness which the Company anticipates will be followed by an operate and manage agreement.

(f) On March 12, 2025, the City informed 1684567 for outstanding property taxes, other charges including the amounts described above for costs resulting from the spill at the Belleville Facility. The amount noted by the City includes certain costs relating to 2025, in total $299,317 ($430,672). The City is demanding payment on or before April 23, 2025. On April 22, 2025, the City and 1684567 signed an extension agreement to provide for the payment of the amounts noted above along with the property taxes to be invoiced by the City during the extension period and any additional interest and penalties. The payments are to be made monthly, commencing April 22, 2025 through to March 22, 2026 in the amount of $31,808 (C$45,767).  On May 5, 2025, the mortgagees for the property agreed to provide the funding for the agreed upon payments during the extension period.

(g) In a letter dated March 20, 2025, the Canada Revenue Agency (the “CRA”), informed the Company of outstanding harmonized sales taxes and payroll remittance amounts, including interest and penalties, owing for the Belleville Facility. The total amount is $531,038 (C$764,084) and includes amounts relating to 2025. The Company has included under accounts payable and under accrued liabilities in the consolidated financial statements the amounts owing as at December 31, 2024. Management has been in discussions with the CRA to repay the outstanding amounts over a reasonable amount of time once funding is received.