Non-operating (expense) income is comprised of:

Included in other non-operating (losses) gains, net for the fiscal year ended  May 31, 2025, were gains of $4,034 which were mainly comprised of a $5,792 gain resulting from the exchange transaction of the TLRY 27 Note, as described in Note 17 (Convertible debentures payable), offset by a $975 loss resulting from the downside protection from the Double Diamond Holdings dividend settlement.

Included in other non-operating (losses) gains, net for the fiscal year ended  May 31, 2024, were losses of $12,367 which is comprised of $2,313 from the downside protection related to the share issuance in connection with the HTI note, $2,458 of amounts to settle outstanding notes with non-controlling interest shareholders, $4,638 for a decrease in value of an equity investee, Cannfections, and a $3,063 loss on measurement at the lower of carrying amount and fair value less costs to sell of Broken Coast's former Duncan facility.