On June 20, 2025, the Company entered into an exclusive patent license agreement with UNM Rainforest Innovations (“UNMRI”) for the use and commercialization of certain patents and technologies, including the grant of commercial sub-licenses, in relation to designs and technologies of small modular nuclear reactors. The term of the agreement is to remain in force until the later of: (i) 10 years from the date of first sale of a licensed product, or provision of a licensed service; and, (ii) the last expiration date of the underlying patents. The Company paid a license fee of $50,000 and patent expense reimbursement of $17,430 upon execution of the agreement. The Company capitalized the costs paid upon execution of the agreement, and subsequent costs connected with establishment of new intangible asset rights.

In accordance with the patent license agreement, a license maintenance fee of $35,000 due on January 31, 2026 has been paid. The Company is obligated to pay additional license maintenance fees of $50,000 on each of January 31, 2027 and January 31, 2028. The Company shall also pay to UNMRI certain royalties on commercial sublicenses and on gross receipts from sale of commercial reactors, subject to minimum annual royalties of $65,000 from the calendar year 2028 onwards. As of February 28, 2026, $8,082 (November 30, 2025 - $29,436) of license maintenance fees were included in accounts payable and accrued liabilities.

The Company’s policy is to expense costs incurred to renew, extend or maintain the term of a recognized patent license as incurred.

Patent licenses are amortized on a straight-line basis over their estimated useful lives pursuant to contract terms.


											Weighted
											Average
					Accumulated						Remaining Life
		Gross Assets			Amortization			Net Assets			(Years)
Patent licenses		$	78,124		$	(2,456)		$	75,668		19.4
Total intangible asset, net		$	78,124		$	(2,456)		$	75,668		19.4


											Weighted
											Average
					Accumulated						Remaining Life
		Gross Asset			Amortization			Net Assets			(Years)
Patent licenses		$	67,430		$	(1,515)		$	65,915		19.5
Total intangible asset, net		$	67,430		$	(1,515)		$	65,915		19.5

Aggregate amortization expense was $941 for the three months ended February 28, 2026 (for the three months ended February 28, 2025 - $Nil). Amortization expense is expected to be approximately $3,900 per year for each of the next five fiscal years.