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Z4 100 King St. W Suite 1600 Toronto ON M5X 1G5 CA Katie Field 100 King St. W Suite 1600 Toronto ON M5X 1G5 CA +1 (202) 498 7917 Common Shares AKAN NASDAQ 1983546 No No Yes Yes Non-accelerated Filer true false false International Financial Reporting Standards false false true <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">We use SaaS based information technology (IT) systems/services which are provided by reputable vendors, our IT environment is audited by third party IT auditors for IT risk management regularly. The Company takes care of access management and related threats. Logs, threats, and alerts are monitored and dealt with by the Company on a regular basis. All system/services being used (Microsoft (email/SharePoint/teams) are all cloud-based provided by reputable cloud vendors and their IT environments are audited by third party auditors for IT risk management. Information is analyzed on potential threats to the organization, identifying what threats each of our IT assets may face and from where those may originate. All server level threats are taken care of by systems providers under SaaS model. There were no cyber-attacks, virus infection or security breach during the prior fiscal year. The Company is not aware of or been informed of instances of noncompliance with any regulatory requirements associated with IT. The information system has not experienced a significant loss of data that could not be restored from backup systems.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Our interim CEO is responsible for assessing and managing cybersecurity risks, through her general oversight of our company and its IT service provider that manages our IT, but she does not have specific cybersecurity expertise. The Company does not have a specific Information Technology Policy that would, among other things, govern and provide for cybersecurity policies and processes, including to define safety measures to protect the Company’s confidentiality, integrity and availability of data and other intellectual property, or to define the manner in which information is stored, saved and routed in the Company’s network, as a result of the transition of the Company’s business focus and lack of material day to day operations at this time. The Board and management believe cybersecurity represents an important component of the Company’s overall approach to risk management and oversight, especially as the Company moves towards commercialization of its planned cannabis products and potentially the business of First Towers and Fiber Corp.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Company has not incurred any material expenses over the last two years relating to information security breaches. The occurrence of cyber-incidents, or a deficiency in our cybersecurity or in those of any of our third-party service providers could negatively impact our business by causing a disruption to our operations, a compromise or corruption of our confidential information and systems, or damage to our business relationships or reputation, all of which could negatively impact our business and results of operations. There can be no assurance that the Company’s third-party vendors’ and service providers’ cybersecurity risk management processes, including their policies, controls or procedures, will be fully implemented, complied with or effective in protecting the Company’s systems and information.</p> Our interim CEO is responsible for assessing and managing cybersecurity risks, through her general oversight of our company and its IT service provider that manages our IT, but she does not have specific cybersecurity expertise. true false true <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Opinion on the Financial Statements</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have audited the accompanying consolidated statements of financial position of Akanda Corp. (the “Company”), as of December 31, 2025 and 2024, the related consolidated statements of comprehensive loss, changes in shareholders’ equity (deficit) and cash flows for the years then ended, and the related notes (collectively referred to as the “financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2025 and 2024, and the results of its operations and its cash flows for the years then ended, in conformity with the International Financial Reporting Standards as issued by the International Accounting Standards Board.</p> GreenGrowthCPAs Los Angeles, California 6580 503562 3838650 574 3216 1399977 370537 1698022 391649 451529 3602135 5055581 2365831 2339182 15827 503493 227589 2593420 2858502 6195555 7914083 3309037 2982499 187442 1006920 352814 1055420 640546 302232 6199365 3637545 208679 7633966 4143982 11986627 18185992 3637545 73555097 63319398 597836 20455241 3370 24423 -103091953 -57459061 -2304665 -1608222 -1205363 -11990437 4276538 6195555 7914083 258075 414098 -156023 433693 137271 1463786 2377926 624710 495699 2305195 1019287 4827384 4030183 -4983407 -4030183 2953 925092 81083 273606 -132842 -350000 1750820 1914956 -219719 74455 198780 475816 400000 -235686 44812112 -42383508 718360 -47366915 -3311823 507604 -784206 -46859311 -4096029 -175651 -101188 -47034962 -4197217 -45653948 -4096029 -1205363 -46859311 -4096029 -46242254 -4197217 -792708 -47034962 -4197217 -669.58 -669.58 -223.48 -223.48 -662.22 -662.22 -276.4 -276.4 68941 14819 51020121 21053 -53363032 -1507034 -3828892 1396702 11531486 12928188 11528116 -11528116 -1445188 -1445188 728056 728056 577.97 1547703 1547703 -4096029 -4096029 -101188 -101188 63319398 24423 -57459061 -1608222 4276538 320000 320000 597836 19700885 20298721 754356 754356 10737400 10737400 -777627 -777627 44071 44071 -3 -21053 21056 -520792 -520792 -45653948 -1205363 -46859311 -175651 -175651 73555097 597836 20455241 3370 720381 -103091953 -2304665 -1205363 -11990437 -47366915 -3311823 507604 -784206 -46859311 -4096029 -12999 433693 137271 926 265284 925092 81083 143229 6446 1547703 1914956 27554 198780 475816 400000 235686 -273606 44812112 1750820 68459 -254676 -1344237 -285588 366215 -1209862 -733363 160775 -42898 -6729048 -3980365 1234056 2098138 -105175 1553750 -347 16602 -350000 174 6218004 -7451887 -1016165 275929 10754944 12000000 220030 -44954 62596 1470826 65282 201206 104920 113782 300000 11678315 8989434 -2502620 3992904 -835110 -244913 3841866 93875 504136 3841866 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Nature of Operations and Going Concern</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Akanda Corp. (the “Company”) is domiciled in Canada and was incorporated on July 16, 2021. The Company’s registered office is 77 King Street West, Suite 400, Toronto-Dominion Centre, Toronto Canada, Ontario, M5K 0A1. The Company, through its subsidiaries. operates as a cannabis cultivation, manufacturing, and distribution company. The Company is also in the business of leasing fiber optic networks and telecommunication towers, through its subsidiary First Towers which is based in Mexico.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company was incorporated for the designed purpose of becoming the ultimate parent company of Cannahealth Ltd. (“Cannahealth”), through a reorganization of entities with common control. The share purchase agreement became unconditional on or about November 3, 2021 and the Company acquired the shares in the aforementioned entities from Halo Collective Inc. (“Halo”).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">On April 29, 2022, the Company, through its wholly owned subsidiary, Cannahealth, acquired 100% of the Ordinary Shares of Holigen Limited (“Holigen”) and its wholly-owned subsidiary, RPK Biopharma Unipessoal, LDA (“RPK”) from the Flowr Corporation (note 4).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">On February 28, 2024, the Company incorporated a new subsidiary – 1468243 B.C. Ltd.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">On March 24, 2024, the Company completed the transaction with Somai Pharmaceuticals Ltd. (“Somai”) for the sale of RPK (note 5). The Company accounted for the operating results of RPK which was a net loss of $827,620 as a discontinued operation during the year ended December 31, 2024 and has reclassified the operating results of RPK as a discontinued operation for the year ended December 31, 2023.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Prior to the liquidation event on May 30, 2025 described below, the Company, through its subsidiary Canmart Ltd. (“Canmart”), is also in the business of sales and distribution of cannabis-based products for medical use, which is based in the United Kingdom (“UK”). During the first quarter of 2025, the Company evaluated the current state of Canmart and has determined to discontinue and cease it UK operation. The Company filed for creditor’s voluntary liquidation and had the winding up commenced on May 30, 2025 (note 6). At December 31, 2025, the Company no longer controlled Canmart and derecognized all assets and liabilities at their book values on May 30, 2025 and wrote down all balances to $<span style="-sec-ix-hidden: hidden-fact-159">nil</span>. The Company accounted for the operating results of Canmart which was a net loss of $26,013 as a discontinued operation during the year ended December 31, 2025 and has reclassified the operating results of Canmart as a discontinued operation for the year ended December 31, 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">On August 19, 2025, the Company acquired 100% of the common shares of First Tower and Fibre Corp. (“First Towers” or “FTFC”) together with its subsidiaries, Canadian Towers &amp; Fiber Optics S.A. de C.V. (“CTFO Mexico”) and Canadian Towers S.A. de C.V. (“CT Mexico”) from the shareholders of First Tower (note 4).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company’s consolidated financial statements have been prepared on a going concern basis which assumes that the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company incurred a net cash outflow of $6,729,048 from operating activities for the year ended December 31, 2025. As of December 31, 2025, the Company had working capital deficit of $2,597,230 and has accumulated losses of $103,091,953. The continuing operations of the Company are dependent upon its ability to raise further cash funding by way of issuing debt and/or equity, as well as its ability to generate cash profits from its investments in First Towers in the near future.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company is an early-stage company and is primarily dependent on externally provided financing and revenue generated by its subsidiary to continue as a going concern. Additional funds will be required to enable the Company to pursue such an initiative and the Company may be unable to obtain such financing on satisfactory terms. Furthermore, there is no assurance that the Company will be profitable. Management intends to finance operating costs over the next twelve months with its cash on hand, equity and debt financing, and/or additional cash that will be generated from operations. The Company does not at this stage have any firm plans or commitments regarding further financing.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">These uncertainties may cast significant doubt upon the Company’s ability to continue as a going concern. These consolidated financial statements do not include any adjustments relating to the recoverability and classification of assets and liabilities which might be necessary should the Company be unable to continue in existence.</p> 1 -827620 26013 1 -6729048 2597230 -103091953 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Basis of Preparation</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(a)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Statement of compliance</i></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">These consolidated financial statements, including comparatives, have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”) and interpretations issued by the International Financial Reporting Interpretations Committee (“IFRIC”).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(b)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Basis of preparation</i></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">These consolidated financial statements have been prepared on an accrual basis, except for cash flow information, and are based on the historical cost, modified where applicable and related to the valuation of certain financial assets and financial liabilities to fair value.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">  </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(c)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Functional and presentation currency</i></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company and its subsidiaries are measured using the currency of the primary economic environment in which each subsidiary operates - the functional currency. The Euro is the functional currency of the Company’s former RPK business, Holigen and Cannahealth, Great British Pounds is the functional currency of the Company’s former Canmart business, Mexican Peso is the functional currency of CTFO Mexico and CT Mexico and Canadian Dollars is the functional currency of First Towers, 1371011 and Akanda while the United States Dollars is its reporting currency.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">These consolidated financial statements are prepared and presented in United States Dollars (“USD” or “$”), which is the Company’s reporting currency. All financial information has been rounded to the nearest dollar except where indicated otherwise.</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(d)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Use of estimates and judgments</i></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The preparation of consolidated financial statements in conformity with IFRS requires management to make estimates, judgements and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, revenue and expenses during the year. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. Areas in which management has made critical judgments in the process of applying accounting policies and that have the most significant effect on the amounts recognized in the consolidated financial statements include the determination of the Company’s and its subsidiaries’ functional currencies. Information about key assumptions and estimation uncertainties that have a significant risk of resulting in a material adjustment to the carrying amount of assets and liabilities within the next financial year are included in the following notes to consolidated financial statements for the year ended December 31, 2025:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Note 3(d): Estimates of the fair value of the Company’s compound financial instruments</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Note 3(e): Estimates of variable consideration receivable from revenue from contracts with customers</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Note 3(g): Estimates of the net realizable value of the Company’s inventories</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Note 3(h): Estimates of the fair value of the Company’s biological assets</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Note 3(i): Measurement and useful lives of the Company’s property, plant and equipment</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Note 3(j): Measurement and useful lives of the Company’s intangible assets</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Note 3(l): Estimates and assessment of the income tax assets/liabilities</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Note 3(m): Estimates of the Company’s incremental borrowing rate used in the valuation of its leases</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Note 3(o): Estimates of the Company’s acquisition</span></td></tr> </table> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>3.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Material Accounting Policies</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 18.15pt; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(a)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Basis of consolidation</i></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">These consolidated financial statements include the accounts of the Company and its subsidiaries. Subsidiaries are entities that are controlled by the Company. Control exists when the Company has power over the investee and the Company is exposed or has the rights to variable returns from the investee. Subsidiaries are included in the consolidated financial results of the Company from the effective date of acquisition up to the effective date of disposition or loss of control. The financial statements of the subsidiaries are prepared for the same reporting period as the parent company, using consistent account policies. All intercompany transactions and balances and unrealized gains and losses from intercompany transactions have been eliminated.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The subsidiaries of the Company are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Country of<br/> Incorporation</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Holding</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Functional<br/> Currency</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 54%; text-align: left">Cannahealth Ltd. (“Cannahealth”)</td><td style="width: 1%"> </td> <td style="width: 14%; text-align: center; padding-left: 5.4pt">Malta</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: center"> </td><td style="width: 18%; text-align: center">100%</td><td style="width: 1%; text-align: left"></td><td style="width: 1%"> </td> <td style="width: 9%; text-align: center; padding-left: 5.4pt">EUR</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Bophelo Holdings Ltd. (“Bophelo H”)</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">United Kingdom</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">100%</td><td style="text-align: left"></td><td> </td> <td style="text-align: center; padding-left: 5.4pt">GBP</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Bophelo Bio Science and Wellness (Pty) Ltd. (“Bophelo”)</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">Lesotho</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">100%</td><td style="text-align: left"></td><td> </td> <td style="text-align: center; padding-left: 5.4pt">LSL</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Canmart Ltd. (“Canmart”)**</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">United Kingdom</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">100%</td><td style="text-align: left"></td><td> </td> <td style="text-align: center; padding-left: 5.4pt">GBP</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Holigen Holdings Limited (“Holigen”)</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">Portugal</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">100%</td><td style="text-align: left"></td><td> </td> <td style="text-align: center; padding-left: 5.4pt">EUR</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">RPK Biopharma Unipessoal Lda. (“RPK”)*</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">Portugal</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">0%</td><td style="text-align: left"></td><td> </td> <td style="text-align: center; padding-left: 5.4pt">EUR</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">1371011 BC Ltd. (“1371011”)</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">Canada</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">100%</td><td style="text-align: left"></td><td> </td> <td style="text-align: center; padding-left: 5.4pt">CAD</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">1468243 BC Ltd. (“1468243”)</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">Canada</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">100%</td><td style="text-align: left"></td><td> </td> <td style="text-align: center; padding-left: 5.4pt">CAD</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">First Towers &amp; Fibers Corp. (“First Towers”)</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">Canada</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">100%</td><td style="text-align: left"></td><td> </td> <td style="text-align: center; padding-left: 5.4pt">CAD</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Canadian Towers &amp; Fiber Optics S.A. de C.V. (“CTFO Mexico”)</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">Mexico</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">96%</td><td style="text-align: left"></td><td> </td> <td style="text-align: center; padding-left: 5.4pt">MXN</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-align: left">Canadian Towers S.A. de C.V. (“CT Mexico”)</td><td style="text-align: center; vertical-align: top"> </td> <td style="vertical-align: top; text-align: center; padding-left: 5.4pt">Mexico</td><td style="text-align: center; vertical-align: top"> </td> <td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0% (structured entity) ^[1]</span></td><td style="vertical-align: top; text-align: center"> </td><td style="text-align: center; vertical-align: top"> </td> <td style="vertical-align: top; text-align: center; padding-left: 5.4pt">MXN</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.3in; text-align: left"><i>*</i></td><td style="text-align: justify"><i>RPK was sold during the year ended December 31, 2024</i></td> </tr> <tr style="vertical-align: top; text-align: justify"> <td style="text-align: left"><i>**</i></td><td style="text-align: justify"><i>Canmart was liquidated on May 30, 2025</i></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"><i>Non-controlling interests</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify">Non-controlling interests are classified as a separate component of equity. On initial recognition, non-controlling interests are measured at their proportionate share of the acquisition date fair value of identifiable net assets of the related subsidiary acquired by the Company. Subsequent to the acquisition date, adjustments are made to the carrying amount of non-controlling interests for the non-controlling interests’ share of changes to the subsidiary’s equity. Adjustments to recognize the non-controlling interests’ share of changes to the subsidiary’s equity are made even if this results in the non-controlling interests having a deficit balance.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">^[1]</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the acquisition of First Towers, the Company consolidated CT Mexico over which it holds no direct or indirect ownership interest as at acquisition date, as originally accounted under First Towers. As the Company acquired First Towers, the Company had determined that it exercises control over CT Mexico in accordance with IFRS 10 – Consolidated Financial Statements, as it:</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">–</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">has the power to direct the relevant activities of CT Mexico through contractual arrangements and operational control;</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">–</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">is exposed to variable returns through its funding, management, and operational activities with the entity; and</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">–</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">has the ability to use its power over CT Mexico to affect those returns.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.25in; text-indent: 0in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accordingly, CT Mexico has been fully consolidated in these financial statements. The Company has determined that CT Mexico qualifies as a structured entity under IFRS 12 due to the nature of its design and purpose. CT Mexico is structured in such a way that voting or similar rights are not the dominant factor in determining control.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.25in; text-indent: 0in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company does not provide financial support to CT Mexico beyond existing contractual obligations, and there are no explicit arrangements that would require the Company to do so in the future.</span></p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(b)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Foreign currency</i></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Items included in the financial statements of each of the Company’s consolidated subsidiaries are measured using the currency of the primary economic environment in which each subsidiary operates (the functional currency). The consolidated financial statements are presented in USD. All assets and liabilities in each statement of financial position are translated at the closing rate at the date of that statement of financial position. All income and expenses are translated at exchange rates at the dates of the transactions.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Foreign currency transactions are translated into the respective functional currencies of the Company and its subsidiaries using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in profit and loss. Non-monetary items that are not carried at fair value are translated using the exchange rates as at the date of the initial transaction. Non-monetary items measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value is determined.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The results and financial position of the Company’s foreign subsidiaries that have a different functional currency from the Company’s functional and presentation currency are translated into USD as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assets and liabilities of the foreign subsidiary are translated at the closing exchange rate on the date of the consolidated statement of financial position;</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenue and expenses of the foreign subsidiary are translated at the average closing exchange rate for the period reported in the consolidated statement of profit or loss. When the average exchange rate does not provide a reasonable approximation of the cumulative effect of the rates prevailing on the transaction date, the Company utilizes the closing exchange rate on the date of the transaction; and</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The exchange rate differences for foreign subsidiaries are recognized in other comprehensive income in the cumulative translation account.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(c)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Financial instruments</i></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(i)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Financial assets</i></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company initially recognizes a financial asset on the trade date at which the Company becomes a party to the contractual provisions of the instrument.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Upon recognition of a financial asset, classification is made based on the business model for managing the asset and the asset’s contractual cash flow characteristics. The financial asset is initially recognized at its fair value and subsequently classified and measured as (i) amortized cost; (ii) fair value through other comprehensive income (“FVOCI”); or (iii) FVTPL. Financial assets are classified as FVTPL if they have not been classified as measured at amortized cost or FVOCI.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company derecognizes a financial asset when the contractual rights to the cash flows from the asset expire, or it transfers the rights to receive the contractual cash flows on the financial asset in a transaction in which substantially all the risks and rewards of ownership of the financial asset are transferred. Financial assets and liabilities are offset and the net amount presented in the consolidated statements of financial position when, and only when, the Company has a legal right to offset the amounts and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. The Company has classified all of its financial assets as financial assets measured at amortized cost or FVTPL. The Company has not classified any financial assets as FVTPL or FVOCI.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="text-decoration:underline">Financial assets measured at amortized cost</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">A non-derivative financial asset is measured at amortized cost when both of the following conditions are met: (i) the asset is held within a business model whose objective is to hold assets in order to collect the contractual cash flows; and (ii) the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Such assets are recognized initially at fair value plus any directly attributable transaction costs and measured at amortized cost using the effective interest method subsequent to initial recognition, loans and receivables are measured at amortized cost. Financial assets measured at amortized cost are comprised of cash, trade and other receivables, loans receivable and due from related party.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="text-decoration:underline">Impairment of financial assets at amortized cost</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company recognized a loss allowance for expected credit losses (“ECL”) on financial assets that are measured at amortized cost. At each reporting date, the Company measures the loss allowance for the financial asset at an amount equal to the lifetime ECL if the credit risk on the financial asset has increased significantly since initial recognition. If at the reporting date, the financial asset’s credit risk has not increased significantly since initial recognition, the Company measures the loss allowance for the financial asset at an amount equal to the 12-month ECL.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(ii)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Financial liabilities</i></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company recognizes a financial liability on the trade date in which it becomes a party to the contractual provisions of the instrument at fair value plus any directly attributable costs. Financial liabilities are subsequently measured at amortized cost or FVTPL and are not subsequently reclassified. The Company’s financial liabilities are trade and other payables and loans and borrowings which are recognized on an amortized cost basis.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="text-decoration:underline">Financial liabilities measured at amortized cost</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"> All financial liabilities are recognized initially on the trade date at which the Company becomes a party to the contractual provisions of the instrument. Such financial liabilities are recognized initially at fair value plus any directly attributable transaction costs. All financial liabilities are measured at amortized cost, except for financial liabilities measured at FVTPL. A financial liability may no longer be reclassified subsequent to initial recognition. Subsequent to initial recognition, financial liabilities are measured at amortized cost using the effective interest method.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company derecognizes a financial liability when its contractual obligations are discharged or cancelled, or when they expire. The Company has the following non-derivative financial liabilities which are classified as financial liabilities measured at amortized cost: trade and other payables, due to related parties, and loans and borrowings.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(d)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Compound financial instruments</i></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company may issue financial instruments that contain both liability and equity components. When the initial proceeds from such instruments are received, the liability component is recognized at the fair value of a similar liability that does not have an equity conversion option. The residual amount is allocated to the equity component and recorded in equity as a conversion feature reserve. Transaction costs are allocated proportionately to the liability and equity components. The liability is subsequently measured at amortized cost using the effective interest method.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The allocation between liability and equity components is based on estimated fair values using discounted cash flows or option pricing models. Changes in assumptions may significantly affect the relative allocation and subsequent accounting treatment.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(e)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Revenue from contracts with customers</i></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Revenue is measured based on the consideration specified in a contract with a customer. The Company recognizes revenue when it transfers control over a good or service to a customer. The Company records revenue upon transfer of promised goods or services to customers in amounts that reflect the consideration to which the Company expects to be entitled in exchange for those goods or services based on the following five step approach:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Step 1:</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Identify the contracts with customers;</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Step 2:</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Identify the performance obligations in the contract;</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Step 3:</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Determine the transaction price;</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Step 4:</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Allocate the transaction price to the performance obligations in the contract; and</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Step 5:</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Recognize revenue as performance obligations are satisfied.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company typically satisfies its performance obligations at a point in time, upon completion of sale. The Company primarily acts as principal in contracts with its customers. The Company does not have material obligations for returns, refunds and other similar obligations, nor warranties and related obligations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Revenue is recognized at the amount of the transaction price that is allocated to the performance obligation. The transaction price is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company has the following revenue streams:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale of cannabis-based products for medicinal use</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.25in"> </td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This revenue stream is assessed as one performance obligation. Revenue from cannabis based medicinal product sales is recognized once the performance obligation has been satisfied, which would be upon the customer taking the delivery of the product. The transaction price for each product and service will be determined based on the respective invoice.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.25in"> </td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the cessation of Canmart in May 2025, no revenues have been recognized from this stream. As of December 31, 2025, the Company has not yet cultivated any product on its farm land property. The Company is currently operating under its hemp cultivation license and continuously working on its full cultivation license for cannabis cultivation.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lease and construction of telecommunications infrastructure, including towers and fiber networks</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.25in"> </td> <td><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Leasing Revenue </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenue from the lease of tower and fiber assets is recognized on a straight-line basis over the lease term, in accordance with IFRS 16. Lease agreements are classified as operating leases, typically ranging from five to thirteen years, and generally include fixed payments without significant variable components.</p></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.25in"> </td> <td><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Construction and Services Revenue </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenue from infrastructure construction and related services is recognized over time as performance obligations are satisfied, based on input methods such as costs incurred relative to total expected costs. These are typically fixed-price contracts governed by IFRS 15.</p></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company exercises judgments in determining the amount of the costs incurred to obtain or fulfil a contract with a customer, which includes, but is not limited to (a) the likelihood of obtaining the contract, (b) the estimate of the profitability of the contract, and (c) the credit risk of the customer. An impairment loss will be recognized in profit or loss to the extent that the carrying amount of the asset exceeds (a) the remaining amount of consideration that the entity expects to receive in exchange for the goods or services to which the asset relates, less (b) the costs that relate directly to providing those goods or services and that have not been recognized as expenses.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Some of the Company’s revenue is derived from fixed price service contracts that may extend beyond one reporting period. Management must use estimates to determine the percentage of work completed and revenue to recognize at the financial reporting period end date. For the year ended December 31, 2025, all revenue is derived from leasing arrangements. <span style="-sec-ix-hidden: hidden-fact-162">No</span> revenue was earned from contracts containing variable consideration or significant financing components.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(f)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Cash and cash equivalents</i></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company considers all liquid investments purchased with a maturity of three months or less at acquisition to be cash and cash equivalents, which are carried and classified at amortized cost. The Company did <span style="-sec-ix-hidden: hidden-fact-160"><span style="-sec-ix-hidden: hidden-fact-161">not</span></span> hold any cash equivalents as of December 31, 2025 and 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(g)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Inventories</i></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Inventories consist of raw materials and are measured at the lower of cost and net realizable value. The cost of inventories is based on the first-in first-out principle, and includes expenditures incurred in acquiring the inventories and other costs incurred in bringing them to their existing location and condition. Inventories are written down to net realizable value when the cost of inventories is estimated to be unrecoverable due to obsolescence, damage, or declining selling prices. Net realizable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and selling expenses. When the circumstances that previously caused inventories to be written down below cost no longer exist, or when there is clear evidence of an increase in selling prices, the amount of the write-down previously recorded is reversed.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(h)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Biological assets</i></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Biological assets are measured at their fair value less costs to sell in the consolidated statement of financial position. The Company’s method of accounting for biological assets attributes value accretion on a straight-line basis throughout the life of the biological asset from initial cloning to the point of harvest. All direct and indirect costs of biological assets are capitalized as they are incurred.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Biological assets and produce held by the Company is planned to be used in four possible ways:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><i> </i></p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>●</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Sale to the export market;</i></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>●</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Sale to the local market;</i></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>●</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Repurposed for use in research and development; and</i></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>●</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Written off for being obsolete.</i></span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(i)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Property, plant and equipment</i></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(i)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Recognition and measurement</i></span></td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Items of property and equipment are measured at cost less accumulated depreciation and accumulated impairment losses. When parts of an item of property and equipment have different estimated useful lives, they are accounted for as separate items within property and equipment. The costs of the ongoing regular servicing of property and equipment are recognized in tin the period in which they are incurred.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(ii)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Depreciation</i></span></td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Depreciation is recognized in profit or loss over the estimated useful lives of each part of an item of property and equipment in a manner that most closely reflects management’s estimated future consumption of the future economic benefits embodied in the asset. The estimated useful lives for the current and comparative periods are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 88%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Plant and equipment</span></td> <td style="width: 1%"> </td> <td style="width: 11%; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10 years</span></td></tr> <tr style="vertical-align: bottom; "> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Leasehold improvements</span></td> <td> </td> <td style="padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5 years</span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Motor Vehicles</span></td> <td> </td> <td style="padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4 years</span></td></tr> <tr style="vertical-align: bottom; "> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Computers</span></td> <td> </td> <td style="padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3 years</span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Furniture and fixtures</span></td> <td> </td> <td style="padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6 years</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company has a majority of its property, plant and equipment in Mexico, held by its subsidiary First Towers, of which the depreciation is calculated using the straight-line method at the following annual rates:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.75in"> </td> <td style="width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>●</i></span></td> <td style="width: 39%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fiber Optic Network</span></td> <td style="width: 45%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10%</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.75in"> </td> <td style="width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>●</i></span></td> <td style="width: 39%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Telecom Towers</span></td> <td style="width: 45%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10%</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.75in"> </td> <td style="width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>●</i></span></td> <td style="width: 39%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Machinery and Equipment</span></td> <td style="width: 45%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10%</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.75in"> </td> <td style="width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>●</i></span></td> <td style="width: 39%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other equipment</span></td> <td style="width: 45%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">30%</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Construction in progress represents capitalized costs related to the construction of telecommunications towers and fiber optic infrastructure that are not yet available for use. These amounts are transferred to the appropriate asset category when construction is complete and the asset is ready for its intended use, at which point depreciation commences. Construction in progress is not depreciated.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(j)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Intangible assets</i></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Intangible assets are recorded at cost less amortization and impairment losses, if any. The Company had a cannabis operator’s license in Lesotho, held by its subsidiary Bophelo, which was valid for 10 years and was subject to a renewal at the end of the 10 years. The license automatically renewed annually on payment of necessary fees as well as submission of operational documents to the Ministry of Health. As a result of loss of control of Bophelo, the license was derecognized and recorded as a loss on the consolidated statement of loss and comprehensive loss. The Company also had a cannabis API manufacturing and GMP license in Portugal, held by its subsidiary Holigen-RPK, which is valid for 10 years. Concurrent to the sale of RPK, the Company derecognized the value of the license.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company had cannabis distribution licenses in the United Kingdom held by its subsidiary, Canmart which have been assessed as having an indefinite useful life. As such, these licenses were not amortized but their recoverable amounts are tested annually for impairment. Pursuant to the cessation of Canmart in May 2025, the license was derecognized and recorded as a loss on the consolidated statement of loss and comprehensive loss. The indefinite intangible assets are recorded at cost less impairment losses, if any. The Company capitalizes the initial license application cost as the cost of intangible assets while the annual license renewal fees are expensed in the year during which they occur.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(k)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Impairment of non-financial assets</i></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company assesses at each reporting period whether there is an indication that a non-financial asset may be impaired. An impairment loss is recognized when the carrying amount of an asset, or its cash generating unit (“CGU”), exceeds its recoverable amount. A CGU is the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. The recoverable amount is the greater of the assets or CGU’s fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset or CGU. In determining fair value less cost to sell, an appropriate valuation model is used. For an asset that does not generate largely independent cash inflows, the recoverable amount is determined for the CGU to which the asset belongs.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Impairment losses recognized in prior periods are assessed at each reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of amortization, if no impairment loss had been recognized.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(l)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Income taxes</i></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Income tax expense comprises current and deferred taxes. Current taxes and deferred taxes are recognized in profit or loss except to the extent that it relates to a business combination, or items recognized directly in equity or in other comprehensive loss.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Current taxes are the expected tax receivable or payable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax receivable or payable in respect of previous years. Deferred taxes are recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Deferred taxes are not recognized for the following temporary differences: the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss, and differences relating to investments in subsidiaries and jointly controlled entities to the extent that it is probable that they will not reverse in the foreseeable future.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In addition, deferred taxes are not recognized for taxable temporary differences arising on the initial recognition of goodwill. Deferred taxes are measured at the tax rates that are expected to be applied to temporary differences when they reverse, based on the tax laws that have been enacted or substantively enacted by the reporting date. Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax assets and liabilities, and they relate to income taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle current tax assets and liabilities on a net basis or their tax assets and liabilities will be realized simultaneously.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences, to the extent that it is probable that future taxable profits will be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(m)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Leases</i></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">At inception of a contract, the Company assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Company assesses whether the contract involves the use of an identified asset, whether the right to obtain substantially all of the economic benefits from use of the asset during the term of the arrangement exists, and if the Company has the right to direct the use of the asset. At inception or on reassessment of a contract that contains a lease component, the Company allocates the consideration in the contract to each lease component on the basis of their relative standalone prices.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">As a lessee, the Company recognizes a right-of-use asset and a lease liability at the commencement date of a lease. The right-of-use asset is initially measured at cost, which is comprised of the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any decommissioning and restoration costs, less any lease incentives received.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The right-of-use asset is subsequently depreciated from the commencement date to the earlier of the end of the lease term, or the end of the useful life of the asset. In addition, the right-of-use asset may be reduced due to impairment losses, if any, and adjusted for certain remeasurements of the lease liability.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">A lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by the interest rate implicit in the lease, or if that rate cannot be readily determined, the incremental borrowing rate. Lease payments included in the measurement of the lease liability are comprised of:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">fixed payments, including in-substance fixed payments, less any lease incentives receivable;</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">b)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">variable lease payments that depend on an index or a rate, initially measured using the index or rate as at the commencement date;</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-indent: -13.5pt"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">c)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">amounts expected to be payable under a residual value guarantee;</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-indent: -13.5pt"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">d)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">exercise prices of purchase options if the Company is reasonably certain to exercise that option; and</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-indent: -13.5pt"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">e)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">payments of penalties for terminating the lease, if the lease term reflects the lessee exercising an option to terminate the lease.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-indent: -13.5pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The lease liability is measured at amortized cost using the effective interest method. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, or if there is a change in the estimate or assessment of the expected amount payable under a residual value guarantee, purchase, extension or termination option.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Variable lease payments not included in the initial measurement of the lease liability are charged directly to profit or loss.</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(n)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Loss per share</i></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company presents basic loss per share (“LPS”) data for its ordinary shares. Basic LPS is calculated by dividing the profit or loss attributable to ordinary shareholders of the Company by the weighted average number of ordinary shares outstanding during the year, adjusted for the Company’s own shares held. Diluted LPS is computed similar to basic LPS except that the weighted average shares outstanding are increased to include additional shares for the assumed exercise of any exercisable instruments, if dilutive. The number of additional shares is calculated by assuming that outstanding exercisable instruments were exercised and that the proceeds from such exercise were used to acquire common shares at the average market price during the reporting periods.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(o)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Share capital</i></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Common shares are classified as equity. Transaction costs directly attributable to the issue of common shares and share options are recognized as a deduction from equity, net of any tax effects. Common shares issued for consideration other than cash, are valued based on their market value at the date the shares are issued. The Company has adopted a residual value method with respect to the measurement of shares and warrants issued as private placement units. The residual value method first allocates value to the more easily measurable component based on fair value and then the residual value, if any, to the less easily measurable component. The Company considers the fair value of common shares issued in a private placement to be the more easily measurable component and the common shares are valued at their fair value, as determined by the closing quoted bid price on the announcement date. The balance, if any, is allocated to the attached warrants. Any fair value attributed to the warrants is recorded as reserves.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(p)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Business combinations</i></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Acquisitions of a business are accounted for using the acquisition method. The consideration transferred in a business combination is measured at fair value. This is calculated as the sum of the acquisition date fair values of the assets transferred by the Company and liabilities incurred by the Company to the former owners of the acquiree in exchange for control of the acquiree. Acquisition related costs are recognized in profit and loss as incurred.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Goodwill is measured as the excess of the sum of the consideration transferred, the amount of any non-controlling interests in the acquiree, and the fair value of the acquirer’s previously held equity interest in the acquiree (if any) over the net of the acquisition date amounts of the identifiable assets acquired and the liabilities assumed. If, after reassessment, the net of the acquisition date amounts of the identifiable assets acquired and liabilities assumed exceeds the sum of the consideration transferred, the amount of any non-controlling interests in the acquiree and the fair value of the acquirer’s previously held interest in the acquiree (if any), the excess is recognized in profit or loss as a bargain purchase gain.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Judgment is required to determine if the Company’s acquisitions represent a business combination or an asset acquisition. For acquisitions accounted as business combination, goodwill was recognized on the transactions and acquisition costs were expensed. The cost of the business combination is measured as the aggregate of the fair values (at the date of exchange) of assets acquired and liabilities incurred or assumed. For acquisitions representing asset acquisition, no goodwill was recognized on the transactions and acquisition costs were capitalized to the assets purchased. An allocation of the purchase price to the individual identifiable assets acquired, including intangible assets, and liabilities assumed based on their fair values at the date of purchase was required. The fair values of the net assets acquired was calculated using significant estimates and judgments. If estimates or judgments differed, this could result in a materially different allocation of net assets on the consolidated statement of financial position.</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(q)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Accounting standards issued and adopted</i></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>Amendments to IAS 1 and IFRS Practice Statement 2 – Disclosure of Accounting policies</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">The amendments require that an entity discloses its material accounting policy information, instead of its significant accounting policies. Further amendments explain how an entity can identify a material accounting policy. Examples of when an accounting policy is likely to be material are added. To support the amendment, the IASB has also developed guidance and examples to explain and demonstrate the application of the ‘four-step materiality process’ described in IFRS Practice Statement 2. The amendments are effective for annual reporting periods beginning on or after January 1, 2024. The adoption of this amendment did not have a significant impact to the Company’s consolidated financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In January 2020, the IAS issued an amendment to IAS 1 Presentation of Financial Statements that clarifies the criterion for classifying a liability as non-current relating to the right to defer settlement of a liability for at least 12 months after the reporting period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liabilities are classified as non-current if the entity has a substantive right to defer settlement for at least 12 months at the end of the reporting period. The amendment no longer refers to unconditional rights. The assessment determines whether a right exists, but it does not consider whether the entity will exercise the right.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">  </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">’Settlement’ is defined as the extinguishment of a liability with cash, other economic resources or an entity’s own equity instruments. There is an exception for convertible instruments that might be converted into equity, but only for those instruments where the conversion option is classified as an equity instrument as a separate component of a compound financial instrument.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify; text-indent: -13.5pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In October 2022, the IASB issued amendments to IAS 1 that specified how an entity assesses whether it has the right to defer settlement of a liability when that right is subject to compliance with covenants within twelve months after the reporting period. The amendment applies to annual reporting periods beginning on or after January 1, 2024 and is applied retrospectively upon adoption. The adoption of this amendment did not have a significant impact to the Company’s consolidated financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(o)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Recent accounting pronouncements</i></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Certain new IFRS standards and interpretations have been issued but are not shown as they are not expected to have a material impact on the Company’s consolidated financial statements.</p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(a)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Basis of consolidation</i></b></span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">These consolidated financial statements include the accounts of the Company and its subsidiaries. Subsidiaries are entities that are controlled by the Company. Control exists when the Company has power over the investee and the Company is exposed or has the rights to variable returns from the investee. Subsidiaries are included in the consolidated financial results of the Company from the effective date of acquisition up to the effective date of disposition or loss of control. The financial statements of the subsidiaries are prepared for the same reporting period as the parent company, using consistent account policies. All intercompany transactions and balances and unrealized gains and losses from intercompany transactions have been eliminated.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The subsidiaries of the Company are as follows:</p><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Country of<br/> Incorporation</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Holding</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Functional<br/> Currency</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 54%; text-align: left">Cannahealth Ltd. (“Cannahealth”)</td><td style="width: 1%"> </td> <td style="width: 14%; text-align: center; padding-left: 5.4pt">Malta</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: center"> </td><td style="width: 18%; text-align: center">100%</td><td style="width: 1%; text-align: left"></td><td style="width: 1%"> </td> <td style="width: 9%; text-align: center; padding-left: 5.4pt">EUR</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Bophelo Holdings Ltd. (“Bophelo H”)</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">United Kingdom</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">100%</td><td style="text-align: left"></td><td> </td> <td style="text-align: center; padding-left: 5.4pt">GBP</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Bophelo Bio Science and Wellness (Pty) Ltd. (“Bophelo”)</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">Lesotho</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">100%</td><td style="text-align: left"></td><td> </td> <td style="text-align: center; padding-left: 5.4pt">LSL</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Canmart Ltd. (“Canmart”)**</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">United Kingdom</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">100%</td><td style="text-align: left"></td><td> </td> <td style="text-align: center; padding-left: 5.4pt">GBP</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Holigen Holdings Limited (“Holigen”)</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">Portugal</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">100%</td><td style="text-align: left"></td><td> </td> <td style="text-align: center; padding-left: 5.4pt">EUR</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">RPK Biopharma Unipessoal Lda. (“RPK”)*</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">Portugal</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">0%</td><td style="text-align: left"></td><td> </td> <td style="text-align: center; padding-left: 5.4pt">EUR</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">1371011 BC Ltd. (“1371011”)</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">Canada</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">100%</td><td style="text-align: left"></td><td> </td> <td style="text-align: center; padding-left: 5.4pt">CAD</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">1468243 BC Ltd. (“1468243”)</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">Canada</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">100%</td><td style="text-align: left"></td><td> </td> <td style="text-align: center; padding-left: 5.4pt">CAD</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">First Towers &amp; Fibers Corp. (“First Towers”)</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">Canada</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">100%</td><td style="text-align: left"></td><td> </td> <td style="text-align: center; padding-left: 5.4pt">CAD</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Canadian Towers &amp; Fiber Optics S.A. de C.V. (“CTFO Mexico”)</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">Mexico</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">96%</td><td style="text-align: left"></td><td> </td> <td style="text-align: center; padding-left: 5.4pt">MXN</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-align: left">Canadian Towers S.A. de C.V. (“CT Mexico”)</td><td style="text-align: center; vertical-align: top"> </td> <td style="vertical-align: top; text-align: center; padding-left: 5.4pt">Mexico</td><td style="text-align: center; vertical-align: top"> </td> <td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0% (structured entity) ^[1]</span></td><td style="vertical-align: top; text-align: center"> </td><td style="text-align: center; vertical-align: top"> </td> <td style="vertical-align: top; text-align: center; padding-left: 5.4pt">MXN</td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.3in; text-align: left"><i>*</i></td><td style="text-align: justify"><i>RPK was sold during the year ended December 31, 2024</i></td> </tr> <tr style="vertical-align: top; text-align: justify"> <td style="text-align: left"><i>**</i></td><td style="text-align: justify"><i>Canmart was liquidated on May 30, 2025</i></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"><i>Non-controlling interests</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify">Non-controlling interests are classified as a separate component of equity. On initial recognition, non-controlling interests are measured at their proportionate share of the acquisition date fair value of identifiable net assets of the related subsidiary acquired by the Company. Subsequent to the acquisition date, adjustments are made to the carrying amount of non-controlling interests for the non-controlling interests’ share of changes to the subsidiary’s equity. Adjustments to recognize the non-controlling interests’ share of changes to the subsidiary’s equity are made even if this results in the non-controlling interests having a deficit balance.</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">^[1]</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the acquisition of First Towers, the Company consolidated CT Mexico over which it holds no direct or indirect ownership interest as at acquisition date, as originally accounted under First Towers. As the Company acquired First Towers, the Company had determined that it exercises control over CT Mexico in accordance with IFRS 10 – Consolidated Financial Statements, as it:</span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">–</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">has the power to direct the relevant activities of CT Mexico through contractual arrangements and operational control;</span></td> </tr></table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">–</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">is exposed to variable returns through its funding, management, and operational activities with the entity; and</span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">–</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">has the ability to use its power over CT Mexico to affect those returns.</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.25in; text-indent: 0in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accordingly, CT Mexico has been fully consolidated in these financial statements. The Company has determined that CT Mexico qualifies as a structured entity under IFRS 12 due to the nature of its design and purpose. CT Mexico is structured in such a way that voting or similar rights are not the dominant factor in determining control.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.25in; text-indent: 0in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company does not provide financial support to CT Mexico beyond existing contractual obligations, and there are no explicit arrangements that would require the Company to do so in the future.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The subsidiaries of the Company are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Country of<br/> Incorporation</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Holding</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Functional<br/> Currency</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 54%; text-align: left">Cannahealth Ltd. (“Cannahealth”)</td><td style="width: 1%"> </td> <td style="width: 14%; text-align: center; padding-left: 5.4pt">Malta</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: center"> </td><td style="width: 18%; text-align: center">100%</td><td style="width: 1%; text-align: left"></td><td style="width: 1%"> </td> <td style="width: 9%; text-align: center; padding-left: 5.4pt">EUR</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Bophelo Holdings Ltd. (“Bophelo H”)</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">United Kingdom</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">100%</td><td style="text-align: left"></td><td> </td> <td style="text-align: center; padding-left: 5.4pt">GBP</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Bophelo Bio Science and Wellness (Pty) Ltd. (“Bophelo”)</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">Lesotho</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">100%</td><td style="text-align: left"></td><td> </td> <td style="text-align: center; padding-left: 5.4pt">LSL</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Canmart Ltd. (“Canmart”)**</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">United Kingdom</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">100%</td><td style="text-align: left"></td><td> </td> <td style="text-align: center; padding-left: 5.4pt">GBP</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Holigen Holdings Limited (“Holigen”)</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">Portugal</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">100%</td><td style="text-align: left"></td><td> </td> <td style="text-align: center; padding-left: 5.4pt">EUR</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">RPK Biopharma Unipessoal Lda. (“RPK”)*</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">Portugal</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">0%</td><td style="text-align: left"></td><td> </td> <td style="text-align: center; padding-left: 5.4pt">EUR</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">1371011 BC Ltd. (“1371011”)</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">Canada</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">100%</td><td style="text-align: left"></td><td> </td> <td style="text-align: center; padding-left: 5.4pt">CAD</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">1468243 BC Ltd. (“1468243”)</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">Canada</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">100%</td><td style="text-align: left"></td><td> </td> <td style="text-align: center; padding-left: 5.4pt">CAD</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">First Towers &amp; Fibers Corp. (“First Towers”)</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">Canada</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">100%</td><td style="text-align: left"></td><td> </td> <td style="text-align: center; padding-left: 5.4pt">CAD</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Canadian Towers &amp; Fiber Optics S.A. de C.V. (“CTFO Mexico”)</td><td> </td> <td style="text-align: center; padding-left: 5.4pt">Mexico</td><td> </td> <td style="text-align: center"> </td><td style="text-align: center">96%</td><td style="text-align: left"></td><td> </td> <td style="text-align: center; padding-left: 5.4pt">MXN</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-align: left">Canadian Towers S.A. de C.V. (“CT Mexico”)</td><td style="text-align: center; vertical-align: top"> </td> <td style="vertical-align: top; text-align: center; padding-left: 5.4pt">Mexico</td><td style="text-align: center; vertical-align: top"> </td> <td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0% (structured entity) ^[1]</span></td><td style="vertical-align: top; text-align: center"> </td><td style="text-align: center; vertical-align: top"> </td> <td style="vertical-align: top; text-align: center; padding-left: 5.4pt">MXN</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.3in; text-align: left"><i>*</i></td><td style="text-align: justify"><i>RPK was sold during the year ended December 31, 2024</i></td> </tr> <tr style="vertical-align: top; text-align: justify"> <td style="text-align: left"><i>**</i></td><td style="text-align: justify"><i>Canmart was liquidated on May 30, 2025</i></td> </tr></table> Malta 1 EUR United Kingdom 1 GBP Lesotho 1 LSL United Kingdom 1 GBP Portugal 1 EUR Portugal 0 EUR Canada 1 CAD Canada 1 CAD Canada 1 CAD Mexico 0.96 MXN Mexico 0 MXN <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(b)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Foreign currency</i></b></span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Items included in the financial statements of each of the Company’s consolidated subsidiaries are measured using the currency of the primary economic environment in which each subsidiary operates (the functional currency). The consolidated financial statements are presented in USD. All assets and liabilities in each statement of financial position are translated at the closing rate at the date of that statement of financial position. All income and expenses are translated at exchange rates at the dates of the transactions.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Foreign currency transactions are translated into the respective functional currencies of the Company and its subsidiaries using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in profit and loss. Non-monetary items that are not carried at fair value are translated using the exchange rates as at the date of the initial transaction. Non-monetary items measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value is determined.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The results and financial position of the Company’s foreign subsidiaries that have a different functional currency from the Company’s functional and presentation currency are translated into USD as follows:</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assets and liabilities of the foreign subsidiary are translated at the closing exchange rate on the date of the consolidated statement of financial position;</span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenue and expenses of the foreign subsidiary are translated at the average closing exchange rate for the period reported in the consolidated statement of profit or loss. When the average exchange rate does not provide a reasonable approximation of the cumulative effect of the rates prevailing on the transaction date, the Company utilizes the closing exchange rate on the date of the transaction; and</span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The exchange rate differences for foreign subsidiaries are recognized in other comprehensive income in the cumulative translation account.</span></td></tr> </table> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(c)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Financial instruments</i></b></span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(i)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Financial assets</i></span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company initially recognizes a financial asset on the trade date at which the Company becomes a party to the contractual provisions of the instrument.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Upon recognition of a financial asset, classification is made based on the business model for managing the asset and the asset’s contractual cash flow characteristics. The financial asset is initially recognized at its fair value and subsequently classified and measured as (i) amortized cost; (ii) fair value through other comprehensive income (“FVOCI”); or (iii) FVTPL. Financial assets are classified as FVTPL if they have not been classified as measured at amortized cost or FVOCI.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company derecognizes a financial asset when the contractual rights to the cash flows from the asset expire, or it transfers the rights to receive the contractual cash flows on the financial asset in a transaction in which substantially all the risks and rewards of ownership of the financial asset are transferred. Financial assets and liabilities are offset and the net amount presented in the consolidated statements of financial position when, and only when, the Company has a legal right to offset the amounts and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. The Company has classified all of its financial assets as financial assets measured at amortized cost or FVTPL. The Company has not classified any financial assets as FVTPL or FVOCI.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="text-decoration:underline">Financial assets measured at amortized cost</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">A non-derivative financial asset is measured at amortized cost when both of the following conditions are met: (i) the asset is held within a business model whose objective is to hold assets in order to collect the contractual cash flows; and (ii) the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Such assets are recognized initially at fair value plus any directly attributable transaction costs and measured at amortized cost using the effective interest method subsequent to initial recognition, loans and receivables are measured at amortized cost. Financial assets measured at amortized cost are comprised of cash, trade and other receivables, loans receivable and due from related party.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="text-decoration:underline">Impairment of financial assets at amortized cost</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company recognized a loss allowance for expected credit losses (“ECL”) on financial assets that are measured at amortized cost. At each reporting date, the Company measures the loss allowance for the financial asset at an amount equal to the lifetime ECL if the credit risk on the financial asset has increased significantly since initial recognition. If at the reporting date, the financial asset’s credit risk has not increased significantly since initial recognition, the Company measures the loss allowance for the financial asset at an amount equal to the 12-month ECL.</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(ii)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Financial liabilities</i></span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company recognizes a financial liability on the trade date in which it becomes a party to the contractual provisions of the instrument at fair value plus any directly attributable costs. Financial liabilities are subsequently measured at amortized cost or FVTPL and are not subsequently reclassified. The Company’s financial liabilities are trade and other payables and loans and borrowings which are recognized on an amortized cost basis.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><span style="text-decoration:underline">Financial liabilities measured at amortized cost</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"> All financial liabilities are recognized initially on the trade date at which the Company becomes a party to the contractual provisions of the instrument. Such financial liabilities are recognized initially at fair value plus any directly attributable transaction costs. All financial liabilities are measured at amortized cost, except for financial liabilities measured at FVTPL. A financial liability may no longer be reclassified subsequent to initial recognition. Subsequent to initial recognition, financial liabilities are measured at amortized cost using the effective interest method.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company derecognizes a financial liability when its contractual obligations are discharged or cancelled, or when they expire. The Company has the following non-derivative financial liabilities which are classified as financial liabilities measured at amortized cost: trade and other payables, due to related parties, and loans and borrowings.</p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(d)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Compound financial instruments</i></b></span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company may issue financial instruments that contain both liability and equity components. When the initial proceeds from such instruments are received, the liability component is recognized at the fair value of a similar liability that does not have an equity conversion option. The residual amount is allocated to the equity component and recorded in equity as a conversion feature reserve. Transaction costs are allocated proportionately to the liability and equity components. The liability is subsequently measured at amortized cost using the effective interest method.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The allocation between liability and equity components is based on estimated fair values using discounted cash flows or option pricing models. Changes in assumptions may significantly affect the relative allocation and subsequent accounting treatment.</p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(e)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Revenue from contracts with customers</i></b></span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Revenue is measured based on the consideration specified in a contract with a customer. The Company recognizes revenue when it transfers control over a good or service to a customer. The Company records revenue upon transfer of promised goods or services to customers in amounts that reflect the consideration to which the Company expects to be entitled in exchange for those goods or services based on the following five step approach:</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Step 1:</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Identify the contracts with customers;</span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Step 2:</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Identify the performance obligations in the contract;</span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Step 3:</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Determine the transaction price;</span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Step 4:</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Allocate the transaction price to the performance obligations in the contract; and</span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Step 5:</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Recognize revenue as performance obligations are satisfied.</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company typically satisfies its performance obligations at a point in time, upon completion of sale. The Company primarily acts as principal in contracts with its customers. The Company does not have material obligations for returns, refunds and other similar obligations, nor warranties and related obligations.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Revenue is recognized at the amount of the transaction price that is allocated to the performance obligation. The transaction price is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company has the following revenue streams:</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale of cannabis-based products for medicinal use</span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.25in"> </td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This revenue stream is assessed as one performance obligation. Revenue from cannabis based medicinal product sales is recognized once the performance obligation has been satisfied, which would be upon the customer taking the delivery of the product. The transaction price for each product and service will be determined based on the respective invoice.</span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.25in"> </td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the cessation of Canmart in May 2025, no revenues have been recognized from this stream. As of December 31, 2025, the Company has not yet cultivated any product on its farm land property. The Company is currently operating under its hemp cultivation license and continuously working on its full cultivation license for cannabis cultivation.</span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lease and construction of telecommunications infrastructure, including towers and fiber networks</span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.25in"> </td> <td><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Leasing Revenue </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenue from the lease of tower and fiber assets is recognized on a straight-line basis over the lease term, in accordance with IFRS 16. Lease agreements are classified as operating leases, typically ranging from five to thirteen years, and generally include fixed payments without significant variable components.</p></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.25in"> </td> <td><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Construction and Services Revenue </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenue from infrastructure construction and related services is recognized over time as performance obligations are satisfied, based on input methods such as costs incurred relative to total expected costs. These are typically fixed-price contracts governed by IFRS 15.</p></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company exercises judgments in determining the amount of the costs incurred to obtain or fulfil a contract with a customer, which includes, but is not limited to (a) the likelihood of obtaining the contract, (b) the estimate of the profitability of the contract, and (c) the credit risk of the customer. An impairment loss will be recognized in profit or loss to the extent that the carrying amount of the asset exceeds (a) the remaining amount of consideration that the entity expects to receive in exchange for the goods or services to which the asset relates, less (b) the costs that relate directly to providing those goods or services and that have not been recognized as expenses.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Some of the Company’s revenue is derived from fixed price service contracts that may extend beyond one reporting period. Management must use estimates to determine the percentage of work completed and revenue to recognize at the financial reporting period end date. For the year ended December 31, 2025, all revenue is derived from leasing arrangements. <span style="-sec-ix-hidden: hidden-fact-162">No</span> revenue was earned from contracts containing variable consideration or significant financing components.</p> P1Y <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(f)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Cash and cash equivalents</i></b></span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company considers all liquid investments purchased with a maturity of three months or less at acquisition to be cash and cash equivalents, which are carried and classified at amortized cost. The Company did <span style="-sec-ix-hidden: hidden-fact-160"><span style="-sec-ix-hidden: hidden-fact-161">not</span></span> hold any cash equivalents as of December 31, 2025 and 2024.</p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(g)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Inventories</i></b></span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Inventories consist of raw materials and are measured at the lower of cost and net realizable value. The cost of inventories is based on the first-in first-out principle, and includes expenditures incurred in acquiring the inventories and other costs incurred in bringing them to their existing location and condition. Inventories are written down to net realizable value when the cost of inventories is estimated to be unrecoverable due to obsolescence, damage, or declining selling prices. Net realizable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and selling expenses. When the circumstances that previously caused inventories to be written down below cost no longer exist, or when there is clear evidence of an increase in selling prices, the amount of the write-down previously recorded is reversed.</p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(h)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Biological assets</i></b></span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Biological assets are measured at their fair value less costs to sell in the consolidated statement of financial position. The Company’s method of accounting for biological assets attributes value accretion on a straight-line basis throughout the life of the biological asset from initial cloning to the point of harvest. All direct and indirect costs of biological assets are capitalized as they are incurred.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Biological assets and produce held by the Company is planned to be used in four possible ways:</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>●</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Sale to the export market;</i></span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>●</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Sale to the local market;</i></span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>●</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Repurposed for use in research and development; and</i></span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>●</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Written off for being obsolete.</i></span></td></tr> </table> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(i)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Property, plant and equipment</i></b></span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(i)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Recognition and measurement</i></span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Items of property and equipment are measured at cost less accumulated depreciation and accumulated impairment losses. When parts of an item of property and equipment have different estimated useful lives, they are accounted for as separate items within property and equipment. The costs of the ongoing regular servicing of property and equipment are recognized in tin the period in which they are incurred.</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(ii)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Depreciation</i></span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Depreciation is recognized in profit or loss over the estimated useful lives of each part of an item of property and equipment in a manner that most closely reflects management’s estimated future consumption of the future economic benefits embodied in the asset. The estimated useful lives for the current and comparative periods are as follows:</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 88%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Plant and equipment</span></td> <td style="width: 1%"> </td> <td style="width: 11%; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10 years</span></td></tr> <tr style="vertical-align: bottom; "> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Leasehold improvements</span></td> <td> </td> <td style="padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5 years</span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Motor Vehicles</span></td> <td> </td> <td style="padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4 years</span></td></tr> <tr style="vertical-align: bottom; "> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Computers</span></td> <td> </td> <td style="padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3 years</span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Furniture and fixtures</span></td> <td> </td> <td style="padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6 years</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company has a majority of its property, plant and equipment in Mexico, held by its subsidiary First Towers, of which the depreciation is calculated using the straight-line method at the following annual rates:</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.75in"> </td> <td style="width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>●</i></span></td> <td style="width: 39%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fiber Optic Network</span></td> <td style="width: 45%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10%</span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.75in"> </td> <td style="width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>●</i></span></td> <td style="width: 39%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Telecom Towers</span></td> <td style="width: 45%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10%</span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.75in"> </td> <td style="width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>●</i></span></td> <td style="width: 39%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Machinery and Equipment</span></td> <td style="width: 45%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10%</span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.75in"> </td> <td style="width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>●</i></span></td> <td style="width: 39%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other equipment</span></td> <td style="width: 45%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">30%</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Construction in progress represents capitalized costs related to the construction of telecommunications towers and fiber optic infrastructure that are not yet available for use. These amounts are transferred to the appropriate asset category when construction is complete and the asset is ready for its intended use, at which point depreciation commences. Construction in progress is not depreciated.</p> The estimated useful lives for the current and comparative periods are as follows:<table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 88%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Plant and equipment</span></td> <td style="width: 1%"> </td> <td style="width: 11%; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10 years</span></td></tr> <tr style="vertical-align: bottom; "> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Leasehold improvements</span></td> <td> </td> <td style="padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5 years</span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Motor Vehicles</span></td> <td> </td> <td style="padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4 years</span></td></tr> <tr style="vertical-align: bottom; "> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Computers</span></td> <td> </td> <td style="padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3 years</span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Furniture and fixtures</span></td> <td> </td> <td style="padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6 years</span></td></tr> </table> P10Y P5Y P4Y P3Y P6Y 0.10 0.10 0.10 0.30 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(j)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Intangible assets</i></b></span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Intangible assets are recorded at cost less amortization and impairment losses, if any. The Company had a cannabis operator’s license in Lesotho, held by its subsidiary Bophelo, which was valid for 10 years and was subject to a renewal at the end of the 10 years. The license automatically renewed annually on payment of necessary fees as well as submission of operational documents to the Ministry of Health. As a result of loss of control of Bophelo, the license was derecognized and recorded as a loss on the consolidated statement of loss and comprehensive loss. The Company also had a cannabis API manufacturing and GMP license in Portugal, held by its subsidiary Holigen-RPK, which is valid for 10 years. Concurrent to the sale of RPK, the Company derecognized the value of the license.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company had cannabis distribution licenses in the United Kingdom held by its subsidiary, Canmart which have been assessed as having an indefinite useful life. As such, these licenses were not amortized but their recoverable amounts are tested annually for impairment. Pursuant to the cessation of Canmart in May 2025, the license was derecognized and recorded as a loss on the consolidated statement of loss and comprehensive loss. The indefinite intangible assets are recorded at cost less impairment losses, if any. The Company capitalizes the initial license application cost as the cost of intangible assets while the annual license renewal fees are expensed in the year during which they occur.</p> P10Y P10Y P10Y <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(k)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Impairment of non-financial assets</i></b></span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company assesses at each reporting period whether there is an indication that a non-financial asset may be impaired. An impairment loss is recognized when the carrying amount of an asset, or its cash generating unit (“CGU”), exceeds its recoverable amount. A CGU is the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. The recoverable amount is the greater of the assets or CGU’s fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset or CGU. In determining fair value less cost to sell, an appropriate valuation model is used. For an asset that does not generate largely independent cash inflows, the recoverable amount is determined for the CGU to which the asset belongs.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Impairment losses recognized in prior periods are assessed at each reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of amortization, if no impairment loss had been recognized.</p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(l)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Income taxes</i></b></span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Income tax expense comprises current and deferred taxes. Current taxes and deferred taxes are recognized in profit or loss except to the extent that it relates to a business combination, or items recognized directly in equity or in other comprehensive loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Current taxes are the expected tax receivable or payable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax receivable or payable in respect of previous years. Deferred taxes are recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Deferred taxes are not recognized for the following temporary differences: the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss, and differences relating to investments in subsidiaries and jointly controlled entities to the extent that it is probable that they will not reverse in the foreseeable future.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In addition, deferred taxes are not recognized for taxable temporary differences arising on the initial recognition of goodwill. Deferred taxes are measured at the tax rates that are expected to be applied to temporary differences when they reverse, based on the tax laws that have been enacted or substantively enacted by the reporting date. Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax assets and liabilities, and they relate to income taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle current tax assets and liabilities on a net basis or their tax assets and liabilities will be realized simultaneously.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences, to the extent that it is probable that future taxable profits will be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized.</p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(m)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Leases</i></b></span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">At inception of a contract, the Company assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Company assesses whether the contract involves the use of an identified asset, whether the right to obtain substantially all of the economic benefits from use of the asset during the term of the arrangement exists, and if the Company has the right to direct the use of the asset. At inception or on reassessment of a contract that contains a lease component, the Company allocates the consideration in the contract to each lease component on the basis of their relative standalone prices.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">As a lessee, the Company recognizes a right-of-use asset and a lease liability at the commencement date of a lease. The right-of-use asset is initially measured at cost, which is comprised of the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any decommissioning and restoration costs, less any lease incentives received.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The right-of-use asset is subsequently depreciated from the commencement date to the earlier of the end of the lease term, or the end of the useful life of the asset. In addition, the right-of-use asset may be reduced due to impairment losses, if any, and adjusted for certain remeasurements of the lease liability.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">A lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by the interest rate implicit in the lease, or if that rate cannot be readily determined, the incremental borrowing rate. Lease payments included in the measurement of the lease liability are comprised of:</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">fixed payments, including in-substance fixed payments, less any lease incentives receivable;</span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">b)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">variable lease payments that depend on an index or a rate, initially measured using the index or rate as at the commencement date;</span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">c)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">amounts expected to be payable under a residual value guarantee;</span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">d)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">exercise prices of purchase options if the Company is reasonably certain to exercise that option; and</span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">e)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">payments of penalties for terminating the lease, if the lease term reflects the lessee exercising an option to terminate the lease.</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The lease liability is measured at amortized cost using the effective interest method. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, or if there is a change in the estimate or assessment of the expected amount payable under a residual value guarantee, purchase, extension or termination option.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Variable lease payments not included in the initial measurement of the lease liability are charged directly to profit or loss.</p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(n)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Loss per share</i></b></span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company presents basic loss per share (“LPS”) data for its ordinary shares. Basic LPS is calculated by dividing the profit or loss attributable to ordinary shareholders of the Company by the weighted average number of ordinary shares outstanding during the year, adjusted for the Company’s own shares held. Diluted LPS is computed similar to basic LPS except that the weighted average shares outstanding are increased to include additional shares for the assumed exercise of any exercisable instruments, if dilutive. The number of additional shares is calculated by assuming that outstanding exercisable instruments were exercised and that the proceeds from such exercise were used to acquire common shares at the average market price during the reporting periods.</p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(o)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Share capital</i></b></span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Common shares are classified as equity. Transaction costs directly attributable to the issue of common shares and share options are recognized as a deduction from equity, net of any tax effects. Common shares issued for consideration other than cash, are valued based on their market value at the date the shares are issued. The Company has adopted a residual value method with respect to the measurement of shares and warrants issued as private placement units. The residual value method first allocates value to the more easily measurable component based on fair value and then the residual value, if any, to the less easily measurable component. The Company considers the fair value of common shares issued in a private placement to be the more easily measurable component and the common shares are valued at their fair value, as determined by the closing quoted bid price on the announcement date. The balance, if any, is allocated to the attached warrants. Any fair value attributed to the warrants is recorded as reserves.</p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(p)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Business combinations</i></b></span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Acquisitions of a business are accounted for using the acquisition method. The consideration transferred in a business combination is measured at fair value. This is calculated as the sum of the acquisition date fair values of the assets transferred by the Company and liabilities incurred by the Company to the former owners of the acquiree in exchange for control of the acquiree. Acquisition related costs are recognized in profit and loss as incurred.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Goodwill is measured as the excess of the sum of the consideration transferred, the amount of any non-controlling interests in the acquiree, and the fair value of the acquirer’s previously held equity interest in the acquiree (if any) over the net of the acquisition date amounts of the identifiable assets acquired and the liabilities assumed. If, after reassessment, the net of the acquisition date amounts of the identifiable assets acquired and liabilities assumed exceeds the sum of the consideration transferred, the amount of any non-controlling interests in the acquiree and the fair value of the acquirer’s previously held interest in the acquiree (if any), the excess is recognized in profit or loss as a bargain purchase gain.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Judgment is required to determine if the Company’s acquisitions represent a business combination or an asset acquisition. For acquisitions accounted as business combination, goodwill was recognized on the transactions and acquisition costs were expensed. The cost of the business combination is measured as the aggregate of the fair values (at the date of exchange) of assets acquired and liabilities incurred or assumed. For acquisitions representing asset acquisition, no goodwill was recognized on the transactions and acquisition costs were capitalized to the assets purchased. An allocation of the purchase price to the individual identifiable assets acquired, including intangible assets, and liabilities assumed based on their fair values at the date of purchase was required. The fair values of the net assets acquired was calculated using significant estimates and judgments. If estimates or judgments differed, this could result in a materially different allocation of net assets on the consolidated statement of financial position.</p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(q)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Accounting standards issued and adopted</i></b></span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>Amendments to IAS 1 and IFRS Practice Statement 2 – Disclosure of Accounting policies</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">The amendments require that an entity discloses its material accounting policy information, instead of its significant accounting policies. Further amendments explain how an entity can identify a material accounting policy. Examples of when an accounting policy is likely to be material are added. To support the amendment, the IASB has also developed guidance and examples to explain and demonstrate the application of the ‘four-step materiality process’ described in IFRS Practice Statement 2. The amendments are effective for annual reporting periods beginning on or after January 1, 2024. The adoption of this amendment did not have a significant impact to the Company’s consolidated financial statements.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In January 2020, the IAS issued an amendment to IAS 1 Presentation of Financial Statements that clarifies the criterion for classifying a liability as non-current relating to the right to defer settlement of a liability for at least 12 months after the reporting period.</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liabilities are classified as non-current if the entity has a substantive right to defer settlement for at least 12 months at the end of the reporting period. The amendment no longer refers to unconditional rights. The assessment determines whether a right exists, but it does not consider whether the entity will exercise the right.</span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">’Settlement’ is defined as the extinguishment of a liability with cash, other economic resources or an entity’s own equity instruments. There is an exception for convertible instruments that might be converted into equity, but only for those instruments where the conversion option is classified as an equity instrument as a separate component of a compound financial instrument.</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In October 2022, the IASB issued amendments to IAS 1 that specified how an entity assesses whether it has the right to defer settlement of a liability when that right is subject to compliance with covenants within twelve months after the reporting period. The amendment applies to annual reporting periods beginning on or after January 1, 2024 and is applied retrospectively upon adoption. The adoption of this amendment did not have a significant impact to the Company’s consolidated financial statements.</p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(o)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Recent accounting pronouncements</i></b></span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Certain new IFRS standards and interpretations have been issued but are not shown as they are not expected to have a material impact on the Company’s consolidated financial statements.</p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>4.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Business Combination</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><b>Acquisition of RPK</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">On April 29, 2022, the Company, through its wholly owned subsidiary, Cannahealth, acquired 100% of the Ordinary Shares of Holigen and its wholly-owned operating subsidiary, RPK from the Flowr Corporation (“Flowr”). Consideration for the acquisition consisted of a payment of $3,000,000 in cash and 33 common shares of the Company’s share capital. Of the total cash purchase price, $2,600,000 has been paid and $400,000 as holdback payable. The holdback payable represents funds withheld until resolution of a potential liability between the vendor and a service provider, of which the Company expects resolution within the next twelve (12) months.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The purchase of Holigen has been accounted for by the acquisition method, with the results of Holigen included in the Company’s results of operation from the date of acquisition. The purchase of Holigen was determined as being a business combination in accordance with the requirements of IFRS 3 - <i>Business Combinations</i>, due to the fact that the Company acquired control over Holigen on the acquisition date through the purchase of 100% of its voting securities and consequent transfer of the purchase consideration to the sellers of the Holigen, namely Flowr.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">On February 28, 2024, the Company signed a definitive Share Purchase Agreement and Escrow Agreement with Somai Pharmaceuticals Ltd. (“Somai”), pursuant to which Somai will acquire RPK for a total consideration of $2,000,000. The transaction was completed during the year ended December 31, 2024 (note 5).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><i>Status of Holigen’s seller</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In October 2022, Flowr commenced Court-supervised restructuring proceedings under the <i>Companies’ Creditors Arrangement Act</i> (“CCAA”) in order to receive a stay of proceedings that will allow Flowr to conduct a Sale and Investment Solicitation Process (“SISP”). The Court granted an Initial Order in these CCAA proceedings and appointed Ernst &amp; Young Inc. as ‘the Monitor’.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">During the year ended December 31, 2023, Flowr completed the sale of all of the shares of its subsidiaries, The Flowr Group (Okanagan) Inc. and certain other assets, comprising substantially all of the assets of Flowr. As a result, and pursuant to an Order dated July 21, 2023, the Monitor completed cash and share distributions to Flowr’s debenture holders. There is no recovery available for Flowr’s unsecured creditors and shareholders. For this reason, the Company recognized a write-off of holdback payable of $400,000 during the year ended December 31, 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><b>Acquisition of First Towers</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">On August 22, 2025, the Company consummated the Business Combination pursuant to the Share Exchange Agreement ( “SEA”), as amended on August 19, 2025, with First Towers &amp; Fibers Corp. (“First Towers”), a corporation existing under the laws of the Province of British Columbia. Pursuant to SEA, all of the common shares of First Towers have been acquired by the Company and in exchange, the Company will issue Class A Special Shares and Class B Special Shares and cash payable over time and evidenced by a promissory note. As a result of the closing, which was effective on August 21, 2025 but dated as of August 19, 2025, First Towers became a wholly owned subsidiary of the Company together with its subsidiaries, CT Mexico and CTFO Mexico.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><i>Consideration Shares</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company did not issue any of its common shares as of the closing, as originally contemplated by the SEA. On August 29, 2025, the Company held a Special Meeting of Shareholders and approved the creation of new classes of securities, including Class A Special Shares convertible into Company common shares on a one for one basis and Class B Special Shares convertible into Company common shares on a one for one basis. After the Special Meeting and the approval of the new classes of securities, the Company issued post-consolidated 6,441 Class A Special Shares in accordance with the terms of the SEA, as amended. On November 28, 2025, the Company held a second Special Meeting of shareholders and approved the issuance of an aggregate of post-consolidated 212,265 Class B Special Shares issuable to the former First Towers shareholders pursuant to the terms of the SEA, as amended (note 17).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><i>Consideration Note</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In connection with the closing, the Company entered into a promissory note with a First Towers Shareholder (the “Consideration Note”), in lieu of the Company issuing Class A Special Shares and Class B Special Shares as consideration to such shareholder. The Consideration Note is in the principal amount of $14,133,966. It has a maturity date of August 19, 2027 and has an interest rate of 16% per annum payable quarterly. In addition, the Company paid to the holder of the Consideration Note a commitment fee of $424,019, recorded as interest expense in the consolidated statements of loss and comprehensive loss. The Consideration Note is secured by all of the assets of the Company pursuant to a General Security Agreement dated as of August 19, 2025.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">During the year ended December 31, 2025, the Company made a partial repayment of $6,500,000 and recorded an interest expense of $448,417 (2024 — $<span style="-sec-ix-hidden: hidden-fact-163">nil</span>) related to this loan. As of the December 31, 2025, the Consideration Note balance including interest was $8,082,383 (2024 — $<span style="-sec-ix-hidden: hidden-fact-164">nil</span>). The Consideration Note balance is presented separately in the consolidated statements of financial position of which the remaining principal of $7,633,966 was accounted under non-current secured promissory note and the interest payable of $448,417 was recorded under loans and borrowings.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">First Towers owns and operates 700+kms 5G dark fiber network in central Mexico, where some of the strongest industrial and fastest growing state economies in Mexico are located, with multinational telecommunications giant Telefonica as anchor under a 20-year leasing contract.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The purchase of First Towers has been accounted for by the acquisition method, with the results of First Towers included in the Company’s results of operation from the date of acquisition. For accounting purposes, the acquisition of First Towers was determined as being a business combination in accordance with IFRS 3, with the Company identified as the accounting acquirer and First Towers as the acquiree. The fair value of the total consideration has been allocated as below:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left">Class A Special Shares (6,441 special shares*)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">597,836</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Class B Special Shares (212,265 special shares*)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,700,885</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Cash (via Promissory Note)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">14,133,966</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 1.5pt">Total Consideration Paid</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">34,432,687</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Cash</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">281,996</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Trade and other receivables (note 7)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,163,221</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Prepayments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,420</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Property, plant and equipment, net (note 10)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,123,220</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Right-of-use assets (note 11)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">181,206</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Goodwill (note 12)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">39,572,129</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Accounts payable and accrued liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,402,638</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Due to related parties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(225,900</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Lease liabilities (note 14)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(189,096</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loans and borrowings (note 15)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(171,247</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Due to/from Akanda</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(8,907,624</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 1.5pt">Net Assets Acquired</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">34,432,687</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in; text-align: left">*</td><td style="text-align: justify">The fair value of 218,706 special shares issued was determined to be $92.81 per special share using the market price at acquisition date.</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">During the year ended December 31, 2025, the Company recorded a goodwill of $39,572,129, representing the fair value of net liabilities acquired of $5,139,442 and the fair value of consideration of $34,432,687. The fair value of the net asset acquired was determined by an independent valuer using the discounted cash flow method of valuation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">From the date of acquisition, the operations of First Towers contributed a net loss of $564,023 primarily due to the fact that First Towers was substantially in early revenue stage. If the acquisition had taken place on January 1, 2025, the operations of First Towers would have contributed net gain of $3,263,489 for the year ended December 31, 2025.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">During the year ended December 31, 2025, the acquired business contributed $258,075 in revenue and a net loss of $564,023 to the Company’s consolidated results.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company performed its annual test for goodwill as at December 31, 2025. The Company did so by comparing the sum of the carrying value of the CGU of First Towers and the carrying value of goodwill against the fair value of First Towers’ business. Based on the impairment test, the carrying value for both goodwill and CGU far exceeded the fair value of First Towers’ business. As a result, goodwill was fully impaired as at December 31, 2025 and an impairment loss of $39,572,129 was recorded in the consolidated statements of loss and comprehensive loss during the year ended December 31, 2025 (note 12).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="text-decoration:underline">Assumption of First Towers Indebtedness</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In connection with the First Towers Transaction and the Closing, the Company entered into a Debt Settlement Agreement (the “PGC DSA”) and a Convertible Promissory Note (the “PGC Note”) with PGC Finco Inc. (“PGC”), and a Debt Settlement Agreement (the “Dunstan DSA”) and a Convertible Promissory Note (the “Dunstan Note”) with Dunstan Holdings Ltd. (“Dunstan”).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In satisfaction of all indebtedness of First Towers to PGC, the Company assumed indebtedness of First Towers in the aggregate principal amount of $4,153,078 which is evidenced by the PGC Note and the aggregate interest payable capitalize into a new loan of $2,068,633 which is evidenced by the PGC DSA. The Company agreed to pay PGC, in settlement of PGC DSA, a cash payment of $500,000 and issue to PGC, upon shareholder approval therefore, 24,762 Class B Special Shares.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In satisfaction of all indebtedness of First Towers to Dunstan, the Company assumed indebtedness of First Towers in the aggregate principal amount of $756,917 which is evidenced by the Dunstan Note and the aggregate interest payable capitalize into a new loan of $602,325 which is evidenced by the Dunstan DSA. The Company agreed to issue to Dunstan, upon shareholder approval therefore, 7,787 Class B Special Shares in settlement of Dunstan DSA.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Each of the PGC Note and the Dunstan Note (collectively, the “Notes”) has a maturity date of August 19, 2031, has an interest rate of 8-1/2% per annum payable semiannually in arrears, and are secured by all of the assets of the Company. Each Note may be converted from time to time by either the Company or the holder of the Note, into common shares of the Company. As a result of the shareholders’ approval on November 28, 2025, the Company may issue up to 1,213,333 common shares, from time to time in accordance with the terms, which is the maximum number of shares issuable upon the conversion of $4,909,995 of principal, plus interest, under the 6-year convertible promissory notes. The conversion price shall be a price per share equal to the greater of (a) $6.12 and (b) a 10% discount to the seven-trading day VWAP immediately prior to receipt of the conversion notice.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The convertible debenture was determined to be a hybrid financial instrument with a liability and an embedded derivative liability. The Company has elected the option in IFRS 9 to recognize the convertible debenture as one financial instrument at FVTPL. At the time of issuance, the Company determined the principal amount of $4,909,995 as the fair value. During the year ended December 31, 2025, the Company assessed that the fair value of the convertible debenture had decreased and recognized a $766,013 gain on change in fair value of financial liabilities measured at FVTPL in the consolidated statements of loss and comprehensive loss.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">During the year ended December 31, 2025, the Company paid $500,000 in cash and issued 32,549 Class B Special Shares with a fair value of $754,356 for the settlement of PGC DSA and Dunstan DSA (note 17). As a result of the issuance, the Company recognized a gain on debt settlement of $1,893,196 in the consolidated statements of loss and comprehensive loss. As of December 31, 2025, the outstanding balance of the Notes was $4,143,982.</p> 1 3000000 33 2600000 400000 1 2000000 400000 6441 212265 14133966 2027-08-19 0.16 424019 6500000 448417 8082383 7633966 448417 P20Y The fair value of the total consideration has been allocated as below:<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left">Class A Special Shares (6,441 special shares*)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">597,836</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Class B Special Shares (212,265 special shares*)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,700,885</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Cash (via Promissory Note)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">14,133,966</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 1.5pt">Total Consideration Paid</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">34,432,687</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Cash</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">281,996</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Trade and other receivables (note 7)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,163,221</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Prepayments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,420</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Property, plant and equipment, net (note 10)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,123,220</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Right-of-use assets (note 11)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">181,206</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Goodwill (note 12)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">39,572,129</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Accounts payable and accrued liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,402,638</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Due to related parties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(225,900</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Lease liabilities (note 14)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(189,096</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loans and borrowings (note 15)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(171,247</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Due to/from Akanda</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(8,907,624</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 1.5pt">Net Assets Acquired</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">34,432,687</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in; text-align: left">*</td><td style="text-align: justify">The fair value of 218,706 special shares issued was determined to be $92.81 per special share using the market price at acquisition date.</td> </tr></table> 6441 597836 212265 19700885 14133966 34432687 281996 1163221 7420 4123220 181206 39572129 -1402638 -225900 -189096 171247 -8907624 34432687 218706 92.81 39572129 5139442 34432687 564023 3263489 258075 564023 39572129 4153078 2068633 500000 24762 756917 602325 7787 1213333 4909995 6.12 0.10 4909995 766013 500000 32549 754356 1893196 4143982 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>5.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Sale of RPK</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">During the year ended December 31, 2024, the Company commenced plans to sell its subsidiary - RPK, and on March 24, 2024, pursuant to the signed definitive Share Purchase Agreement and Escrow Agreement with Somai in February 2024, the Company completed the transaction with Somai for the sale of its RPK.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Under the terms of the Share Purchase Agreement, Somai acquired RPK for a total cash consideration of Two Million United States Dollars ($2,000,000). In addition, Somai assumed up to One Million Euros of current liabilities and RPK’s debt with the senior secured lender Bank, Caixa Agricola. In total, Somai assumed approximately 4,000,000 Euros of debt. In accordance with the agreement, a deposit of Five Hundred Thousand United States Dollars ($500,000) was released from a joint escrow account and the remainder of the purchase price was paid directly to the Company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In connection with the closing, the Company paid a cash finder’s fee for an aggregate of $446,250.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company recognized a gain on sale of subsidiary of $198,780 in the consolidated statements of loss and comprehensive loss. The gain on sale was computed as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left">Cash received</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Finder’s fee – transaction cost</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(446,250</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 11.1pt">Consideration received, net</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">1,553,750</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Cash</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">105,175</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Accounts receivable (note 7)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">158,812</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Inventory (note 9)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">895,715</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Prepayments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33,762</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Property, plant and equipment, net (note 10)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,769,221</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Intangible licenses (note 12)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,783,117</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,016,744</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Bank loans (note 15)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,374,088</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 11.1pt">Net assets sold</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">1,354,970</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Gain on sale of subsidiary</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">198,780</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company accounted for the operating results of RPK which was a net loss of $827,620 as a discontinued operation during the year ended December 31, 2024 and has reclassified the operating results of RPK as a discontinued operation for the year ended December 31, 2023.</p> -2000000 4000000 500000 446250 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company recognized a gain on sale of subsidiary of $198,780 in the consolidated statements of loss and comprehensive loss. The gain on sale was computed as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left">Cash received</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Finder’s fee – transaction cost</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(446,250</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 11.1pt">Consideration received, net</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">1,553,750</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Cash</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">105,175</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Accounts receivable (note 7)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">158,812</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Inventory (note 9)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">895,715</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Prepayments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33,762</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Property, plant and equipment, net (note 10)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,769,221</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Intangible licenses (note 12)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,783,117</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,016,744</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Bank loans (note 15)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,374,088</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; padding-left: 11.1pt">Net assets sold</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">1,354,970</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Gain on sale of subsidiary</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">198,780</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 198780 2000000 446250 1553750 105175 158812 895715 33762 1769221 3783117 2016744 3374088 1354970 198780 -827620 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>6.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Loss of Control of Canmart Ltd.</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">During the first quarter of 2025, the Company evaluated the current state of Canmart and has determined to discontinue and cease it UK operation. The Company came to this decision after receiving notification from Canmart’s directors that they intend to resign and thought out the difficulty in finding qualified replacements, among other things. The Company then filed for creditor’s voluntary liquidation and had the winding up commenced on May 30, 2025.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">As at December 31, 2025, the Company no longer controlled Canmart and derecognized all assets and liabilities at their book values on May 30, 2025 and wrote down all balances to $<span style="-sec-ix-hidden: hidden-fact-168">nil</span>. During the year ended December 31, 2025, the Company recorded a gain on loss of control of Canmart of $533,617. The Company accounted for the operating results of Canmart as a discontinued operation during the year ended December 31, 2025 and has reclassified the operating results of Canmart as a discontinued operation for the year ended December 31, 2024. Set out below is the financial performance and cash flow information for the years ended December 31, 2025 and 2024 related to the discontinued operation:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Years ended December 31,</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Net Revenue</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-165">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">208,382</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(31,794</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(560,681</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other income (expenses)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,781</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">395,713</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(26,013</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">43,414</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Gain on loss of control of subsidiary</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">533,617</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-166">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Gain on discontinued operations</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">507,604</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">43,414</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Exchange differences on translation of discontinued operations</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(794,635</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,099,986</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Other comprehensive income from discontinued operations</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(794,635</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,099,986</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash flows provided by (used in) operating activities</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(21,509</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">49,803</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Cash flows provided by (used in) investing activities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">174</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,189</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash flows provided by (used in) financing activities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-167">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(50,472</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Effects of exchange rate changes on cash and cash equivalents</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">705</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(956</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Net change in cash provided by (used in) by the subsidiary</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(20,630</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(4,814</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Carrying amount of net liabilities immediately prior to loss of control of subsidiary</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(12,825</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Reclassification of foreign currency translation reserve</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(520,792</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Gain on loss of control of subsidiary</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(533,617</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">As at May 30, 2025, the carrying amounts of assets and liabilities of Canmart were as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%">Cash</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">174</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Accounts receivable (note 7)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">78,737</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Prepayments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">62,461</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Loan receivables (note 13)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">592,713</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Property, plant and equipment, net (note 10)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,067</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Intangible licenses (note 12)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">17,009</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total assets</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">754,161</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Trade and other payables</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">766,986</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Total liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">766,986</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Net liabilities</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(12,825</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td></tr> </table> 533617 Set out below is the financial performance and cash flow information for the years ended December 31, 2025 and 2024 related to the discontinued operation:<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Years ended December 31,</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Net Revenue</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-165">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">208,382</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(31,794</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(560,681</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other income (expenses)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,781</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">395,713</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(26,013</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">43,414</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Gain on loss of control of subsidiary</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">533,617</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-166">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Gain on discontinued operations</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">507,604</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">43,414</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Exchange differences on translation of discontinued operations</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(794,635</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,099,986</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Other comprehensive income from discontinued operations</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(794,635</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,099,986</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash flows provided by (used in) operating activities</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(21,509</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">49,803</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Cash flows provided by (used in) investing activities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">174</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,189</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash flows provided by (used in) financing activities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-167">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(50,472</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Effects of exchange rate changes on cash and cash equivalents</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">705</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(956</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Net change in cash provided by (used in) by the subsidiary</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(20,630</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(4,814</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Carrying amount of net liabilities immediately prior to loss of control of subsidiary</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(12,825</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Reclassification of foreign currency translation reserve</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(520,792</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Gain on loss of control of subsidiary</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(533,617</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> 208382 31794 560681 5781 395713 -26013 43414 533617 507604 43414 -794635 1099986 -794635 1099986 -21509 49803 174 -3189 -50472 705 -956 -20630 -4814 -12825 -520792 533617 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">As at May 30, 2025, the carrying amounts of assets and liabilities of Canmart were as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%">Cash</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">174</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Accounts receivable (note 7)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">78,737</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Prepayments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">62,461</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Loan receivables (note 13)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">592,713</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Property, plant and equipment, net (note 10)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,067</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Intangible licenses (note 12)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">17,009</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total assets</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">754,161</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Trade and other payables</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">766,986</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Total liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">766,986</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Net liabilities</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(12,825</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td></tr> </table> 174 78737 62461 592713 3067 17009 754161 766986 766986 -12825 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>7.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Trade and Other Receivables</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><b> </b></p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Trade accounts receivable</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">97,627</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">356,105</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Sales taxes and other taxes recoverable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">1,301,319</p></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,432</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Other receivables</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,031</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-169">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><b>1,399,977</b></p></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">370,537</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Trade receivables represent amounts due from customers under normal credit terms, generally 30 to 90 days. As at December 31, 2025, there were three customers (2024 — two customers) with an amount greater than 10% of the Company’s trade accounts receivable which represented 100% of the balance (2024 — 74%). The Company did not recognize any bad debt expense during the years ended December 31, 2025 and 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Sales taxes and other taxes recoverable consists mainly of Mexican value-added tax and other taxes recoverable which represented 96% of the balance as of December 31, 2025.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">During the year ended December 31, 2024, the Company derecognized accounts receivable with a net book value of $158,812 in connection with the sale of RPK (note 5). During the year ended December 31, 2025, the Company derecognized accounts receivable with a net book value of $78,737 in connection with the loss of control of Canmart (note 6).</p> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Trade and Other Receivables</b></span><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Trade accounts receivable</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">97,627</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">356,105</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Sales taxes and other taxes recoverable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">1,301,319</p></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,432</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Other receivables</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,031</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-169">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><b>1,399,977</b></p></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">370,537</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 97627 356105 1301319 14432 1031 1399977 370537 1 0.74 0.96 158812 78737 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>8.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Prepayments</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Advertising and promotion</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,594,444</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">231,250</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Consulting fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-170">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">100,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Management fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">100,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-171">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Other prepayments and deposits</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,578</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">60,399</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,698,022</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">391,649</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Other prepayments and deposits consists of advances to suppliers for tower and fiber network construction, advance payments for insurance premiums, deposits, and or other services expected to be utilized within the next twelve months.</p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Advertising and promotion</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,594,444</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">231,250</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Consulting fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-170">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">100,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Management fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">100,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-171">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Other prepayments and deposits</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,578</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">60,399</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,698,022</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">391,649</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table> 1594444 231250 100000 100000 3578 60399 1698022 391649 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>9.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Inventory</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company’s inventory prior to the sale of RPK included consumer packaging inventory and dried cannabis flower finished product at RPK in Portugal. During the year ended December 31, 2024, concurrent to the sale of RPK (note 5), the Company derecognized inventory with a net book value of $895,715.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><i><span style="text-decoration:underline">Biological assets</span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">As at December 31, 2024, the Company no longer owns any cannabis plants.</p> 895715 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>10.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Property, Plant and Equipment</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="font: 7pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Cost</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Land</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Plant and<br/> equipment</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Leasehold<br/> Improvements</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Motor<br/> Vehicles</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Computers</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Furniture<br/> and fixtures</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Fibre Optics<br/> Projects</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Telecom<br/> Towers</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Machinery &amp; <br/> Sat. Equip</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Construction<br/> -in-progress</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Total</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -9pt; padding-left: 9pt; width: 17.5%"><span style="font-size: 8pt">Balance, December 31, 2023</span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">1,355,337</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">12,502,023</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">1,538</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">32,716</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">48,862</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">134,956</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-172; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-173; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-174; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-175; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">14,075,432</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Additions</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">1,950,000</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-176; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">141,806</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-177; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">3,776</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">2,556</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-178; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-179; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-180; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-181; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">2,098,138</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Impact of sale of RPK</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(909,551</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(12,148,749</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-182; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(28,983</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(25,610</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(126,346</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-183; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-184; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-185; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-186; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(13,239,239</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Foreign exchange movements</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(180,786</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(353,274</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(6,683</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(3,733</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(15,610</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(6,227</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-187; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-188; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-189; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-190; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(566,313</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Balance, December 31, 2024</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">2,215,000</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-191; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">136,661</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-192; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">11,418</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">4,939</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-193; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-194; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-195; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-196; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">2,368,018</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Acquisition (note 4)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-197; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-198; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-199; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-200; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">3,765</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">6,574</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">534,284</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">2,323,038</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">423,505</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">832,054</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">4,123,220</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Additions</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">150,000</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-201; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-202; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-203; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-204; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-205; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">1,076,062</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">7,764</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">230</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-206; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">1,234,056</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Impact of loss of control of Canmart</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-207; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-208; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(1,627</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-209; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(8,405</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(5,308</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-210; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-211; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-212; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-213; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(15,340</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Foreign exchange movements</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">109,504</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-214; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">6,660</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-215; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">498</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">412</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(52,473</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(15,848</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(15,207</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(19,913</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">13,633</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Balance, December 31, 2025</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">2,474,504</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="-sec-ix-hidden: hidden-fact-216; font-size: 8pt">—</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">141,694</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="-sec-ix-hidden: hidden-fact-217; font-size: 8pt">—</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">7,276</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">6,617</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">1,557,873</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">2,314,954</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">408,528</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">812,141</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">7,723,587</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-weight: bold; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Accumulated depreciation</span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Land</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Plant and<br/> equipment</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Leasehold <br/> Improvements</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Motor <br/> Vehicles</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Computers</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Furniture <br/> and fixtures</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Fibre Optics <br/> Projects</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Telecom <br/> Towers</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Machinery &amp; <br/> Sat. Equip</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Construction<br/> -in-progress</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Total</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -9pt; padding-left: 9pt; width: 17.5%"><span style="font-size: 8pt">Balance, December 31, 2023</span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-218; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">2,723,166</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">308</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">21,364</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">44,761</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">38,570</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-219; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-220; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-221; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-222; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">2,828,169</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Depreciation</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-223; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-224; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">18,907</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-225; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">315</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-226; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-227; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-228; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-229; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-230; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">19,222</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Depreciation – from discontinued operation</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-231; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">255,023</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">309</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">2,202</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">3,253</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">4,497</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-232; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-233; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-234; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-235; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">265,284</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Impact of sale of RPK</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-236; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(2,662,688</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-237; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(19,866</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(24,764</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(34,669</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-238; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-239; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-240; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-241; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(2,741,987</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Foreign exchange movements</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-242; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(315,501</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(899</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(3,700</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(15,932</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(5,820</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-243; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-244; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-245; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-246; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(341,852</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Balance, December 31, 2024</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-247; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-248; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">18,625</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-249; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">7,633</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">2,578</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-250; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-251; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-252; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-253; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">28,836</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Depreciation</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-254; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-255; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">27,804</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-256; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">1,583</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">115</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">124,721</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">111,445</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">14,320</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-257; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">279,988</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Depreciation – from discontinued operation</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-258; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-259; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">104</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-260; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">309</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">513</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-261; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-262; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-263; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-264; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">926</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Impact of loss of control of Canmart</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-265; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-266; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(760</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-267; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(8,204</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(3,309</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-268; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-269; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-270; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-271; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(12,273</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Foreign exchange movements</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-272; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-273; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">1,458</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-274; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">431</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">181</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(38,637</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(509</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(4,843</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-275; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(41,919</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Balance, December 31, 2025</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-276; font-size: 8pt">—</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-277; font-size: 8pt">—</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">47,231</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-278; font-size: 8pt">—</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">1,752</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">78</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">86,084</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">110,936</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">9,477</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-279; font-size: 8pt">—</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">255,558</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"></p> <p style="margin: 0"> </p> <table cellpadding="0" style="font: 7pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-weight: bold; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Impairment</span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Land</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Plant and<br/> equipment</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Leasehold<br/> Improvements</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Motor<br/> Vehicles</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Computers</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Furniture <br/> and fixtures</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Fibre Optics<br/> Projects</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Telecom <br/> Towers</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Machinery &amp; <br/> Sat. Equip</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Construction-<br/> in-progress</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Total</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 17.5%"><span style="font-size: 8pt">Balance, December 31, 2023</span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">737,994</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">7,902,730</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right">                   <span style="-sec-ix-hidden: hidden-fact-280; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">9,174</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">1,135</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">76,998</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-281; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-282; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-283; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-284; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">8,728,031</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in"><span style="font-size: 8pt">Impact of sale of RPK</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(737,994</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(7,902,730</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-285; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(9,174</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(1,135</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(76,998</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-286; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-287; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-288; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-289; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(8,728,031</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in"><span style="font-size: 8pt">Balance, December 31, 2024</span></td><td style="font-weight: bold"><span style="font-size: 8pt"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-290; font-size: 8pt">—</span></td><td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold"><span style="font-size: 8pt"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-291; font-size: 8pt">—</span></td><td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold"><span style="font-size: 8pt"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-292; font-size: 8pt">—</span></td><td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold"><span style="font-size: 8pt"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-293; font-size: 8pt">—</span></td><td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold"><span style="font-size: 8pt"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-294; font-size: 8pt">—</span></td><td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold"><span style="font-size: 8pt"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-295; font-size: 8pt">—</span></td><td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold"><span style="font-size: 8pt"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-296; font-size: 8pt">—</span></td><td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold"><span style="font-size: 8pt"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-297; font-size: 8pt">—</span></td><td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold"><span style="font-size: 8pt"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-298; font-size: 8pt">—</span></td><td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold"><span style="font-size: 8pt"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-299; font-size: 8pt">—</span></td><td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold"><span style="font-size: 8pt"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-300; font-size: 8pt">—</span></td><td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in"><span style="font-size: 8pt">Addition</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">2,158,885</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-301; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-302; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">1,999</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">3,931</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">906,133</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">1,324,749</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">239,853</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">466,648</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">5,102,198</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in"><span style="font-size: 8pt">Balance, December 31, 2025</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">2,158,885</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-303; font-size: 8pt">—</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-304; font-size: 8pt">—</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-305; font-size: 8pt">—</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">1,999</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">3,931</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">906,133</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">1,324,749</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">239,853</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">466,648</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">5,102,198</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td></tr> </table> <p style="margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 7pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-weight: bold; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Net book value</span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Land</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Plant and<br/> equipment</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Leasehold<br/> Improvements</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Motor <br/> Vehicles</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Computers</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Furniture<br/> and fixtures</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Fibre Optics<br/> Projects</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Telecom<br/> Towers</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Machinery &amp;<br/> Sat. Equip</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Construction<br/> -in-progress</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Total</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -9pt; padding-left: 9pt; width: 17.5%"><span style="font-size: 8pt">Balance, December 31, 2024</span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">2,215,000</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right">           <span style="-sec-ix-hidden: hidden-fact-306; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">118,036</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right">          <span style="-sec-ix-hidden: hidden-fact-307; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">3,785</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">2,361</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-308; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-309; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-310; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-311; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">2,339,182</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Balance, December 31, 2025</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">315,619</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-312; font-size: 8pt">—</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">94,463</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-313; font-size: 8pt">—</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">3,525</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">2,608</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">565,656</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">879,269</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">159,198</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">345,493</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">2,365,831</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">As at December 31, 2024, the Company derecognized property, plant and equipment with a net book value of $1,769,221 in connection with the sale of RPK (note 5). As at December 31, 2025, the Company derecognized property, plant and equipment with a net book value of $3,067 in connection with the loss of control of Canmart (note 6).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">During the year ended December 31, 2025, the Company recognized depreciation of its property, plant and equipment of $281,229 (2024 — $284,509) of which $926 was related to the operations of Canmart and was recorded within discontinued operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In connection with the annual test performed for goodwill (note 12), the Company assessed that the sum of the carrying value of the CGU of First Towers (mainly PPE) and the carrying value of goodwill greatly exceeds the fair value of First Towers’ business. As a result, the excess of calculated impairment loss, after reducing goodwill, was pro-rated to PPE and ROU assets as at December 31, 2025. An impairment loss of $2,943,313 was recorded in the consolidated statements of loss and comprehensive loss during the year ended December 31, 2025.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company also performed an annual test for its land property as at December 31, 2025. The Company assessed that a significant portion of the net book value of land was impaired. An impairment loss of $2,158,885 was also recorded in the consolidated statements of loss and comprehensive loss during the year ended December 31, 2025.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><b><i>1900 Ferne Road, Gabriola Island, British Columbia</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">On September 19, 2023, and as amended on September 22, 2023 and September 24, 2025, the Company entered into an option agreement with 1107385 B.C. Ltd (“1107385”) to purchase farming land property and related operations and licenses from 1107385. To acquire the property, the Company must pay the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company will issue a non-refundable payment equal to $1,800,000 and if paid in common shares of the Company will be based on formula to calculate the per share price as set forth in the agreement. The initial payment will be broken up into following:</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the First Option Payment, upon signing (issued 156 common shares with a fair value of $431,149) (note 16)</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the Second Option Payment, 15 days after signing (paid $600,000)</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the Third Option Payment, 30 days after signing (paid $600,000)</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the amendment on September 24, 2025, the term contained in the option agreement has been extended to September 25, 2027. The Company plans during this additional two year period to develop Tetrahydrocannabinol (THC) and cannabidiol (CBD) facilities at this site. In exchange for such extension, the Company shall pay to 1107385 a total of $250,000, of which:</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$150,000 shall be paid upon signing was (paid in September 2025); and</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">b.</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$100,000 shall be paid on the 12-month anniversary of the Amendment</span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">B.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additional payments will be made based upon milestones achieved from the development. Further payment milestones include:</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon approval or a license for THC cultivation on the property from the applicable regulatory authority, $500,000 will be paid to the Owner.</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td> </td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon sale of THC product cultivated from the property, $500,000 will be paid</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td> </td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon Hemp cultivation approval from the application regulatory authority, $750,000 will be paid (paid in September 2024)</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td> </td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon CBD cultivation approval from the application regulatory authority, $750,000 will be paid</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">On September 5, 2024, Health Canada approved a hemp license for the Company. As a result, the Company was paid an additional $750,000 to 1107385 for completing one of the milestone events on September 16, 2024. During the year ended December 31, 2024, the Company completed the initial payment and acquired the right to develop the farming property.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company has been working on obtaining its full cultivation license for a variety of potential products containing THC. As of December 31, 2025, the Company has not yet cultivated any product from this land.</p> <table cellpadding="0" style="font: 7pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Cost</span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Land</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Plant and<br/> equipment</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Leasehold<br/> Improvements</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Motor<br/> Vehicles</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Computers</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Furniture<br/> and fixtures</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Fibre Optics<br/> Projects</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Telecom<br/> Towers</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Machinery &amp; <br/> Sat. Equip</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Construction<br/> -in-progress</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Total</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -9pt; padding-left: 9pt; width: 17.5%"><span style="font-size: 8pt">Balance, December 31, 2023</span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">1,355,337</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">12,502,023</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">1,538</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">32,716</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">48,862</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">134,956</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-172; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-173; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-174; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-175; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">14,075,432</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Additions</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">1,950,000</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-176; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">141,806</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-177; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">3,776</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">2,556</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-178; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-179; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-180; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-181; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">2,098,138</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Impact of sale of RPK</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(909,551</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(12,148,749</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-182; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(28,983</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(25,610</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(126,346</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-183; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-184; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-185; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-186; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(13,239,239</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Foreign exchange movements</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(180,786</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(353,274</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(6,683</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(3,733</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(15,610</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(6,227</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-187; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-188; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-189; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-190; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(566,313</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Balance, December 31, 2024</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">2,215,000</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-191; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">136,661</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-192; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">11,418</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">4,939</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-193; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-194; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-195; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-196; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">2,368,018</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Acquisition (note 4)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-197; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-198; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-199; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-200; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">3,765</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">6,574</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">534,284</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">2,323,038</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">423,505</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">832,054</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">4,123,220</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Additions</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">150,000</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-201; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-202; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-203; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-204; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-205; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">1,076,062</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">7,764</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">230</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-206; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">1,234,056</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Impact of loss of control of Canmart</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-207; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-208; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(1,627</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-209; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(8,405</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(5,308</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-210; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-211; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-212; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-213; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(15,340</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Foreign exchange movements</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">109,504</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-214; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">6,660</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-215; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">498</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">412</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(52,473</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(15,848</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(15,207</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(19,913</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">13,633</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Balance, December 31, 2025</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">2,474,504</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="-sec-ix-hidden: hidden-fact-216; font-size: 8pt">—</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">141,694</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; text-align: right"><span style="-sec-ix-hidden: hidden-fact-217; font-size: 8pt">—</span></td><td style="padding-bottom: 4pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">7,276</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">6,617</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">1,557,873</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">2,314,954</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">408,528</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">812,141</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">7,723,587</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-weight: bold; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Accumulated depreciation</span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Land</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Plant and<br/> equipment</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Leasehold <br/> Improvements</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Motor <br/> Vehicles</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Computers</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Furniture <br/> and fixtures</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Fibre Optics <br/> Projects</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Telecom <br/> Towers</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Machinery &amp; <br/> Sat. Equip</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Construction<br/> -in-progress</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Total</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -9pt; padding-left: 9pt; width: 17.5%"><span style="font-size: 8pt">Balance, December 31, 2023</span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-218; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">2,723,166</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">308</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">21,364</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">44,761</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">38,570</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-219; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-220; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-221; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-222; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">2,828,169</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Depreciation</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-223; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-224; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">18,907</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-225; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">315</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-226; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-227; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-228; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-229; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-230; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">19,222</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Depreciation – from discontinued operation</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-231; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">255,023</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">309</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">2,202</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">3,253</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">4,497</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-232; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-233; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-234; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-235; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">265,284</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Impact of sale of RPK</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-236; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(2,662,688</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-237; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(19,866</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(24,764</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(34,669</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-238; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-239; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-240; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-241; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(2,741,987</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Foreign exchange movements</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-242; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(315,501</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(899</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(3,700</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(15,932</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(5,820</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-243; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-244; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-245; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-246; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(341,852</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Balance, December 31, 2024</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-247; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-248; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">18,625</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-249; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">7,633</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">2,578</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-250; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-251; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-252; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-253; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">28,836</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Depreciation</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-254; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-255; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">27,804</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-256; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">1,583</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">115</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">124,721</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">111,445</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">14,320</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-257; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">279,988</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Depreciation – from discontinued operation</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-258; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-259; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">104</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-260; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">309</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">513</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-261; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-262; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-263; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-264; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">926</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Impact of loss of control of Canmart</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-265; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-266; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(760</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-267; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(8,204</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(3,309</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-268; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-269; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-270; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="-sec-ix-hidden: hidden-fact-271; font-size: 8pt">—</span></td><td style="text-align: left"><span style="font-size: 8pt"> </span></td><td><span style="font-size: 8pt"> </span></td> <td style="text-align: left"><span style="font-size: 8pt"> </span></td><td style="text-align: right"><span style="font-size: 8pt">(12,273</span></td><td style="text-align: left"><span style="font-size: 8pt">)</span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Foreign exchange movements</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-272; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-273; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">1,458</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-274; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">431</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">181</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(38,637</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(509</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(4,843</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-275; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(41,919</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Balance, December 31, 2025</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-276; font-size: 8pt">—</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-277; font-size: 8pt">—</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">47,231</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-278; font-size: 8pt">—</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">1,752</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">78</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">86,084</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">110,936</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">9,477</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-279; font-size: 8pt">—</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">255,558</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"></p> <p style="margin: 0"> </p> <table cellpadding="0" style="font: 7pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-weight: bold; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Impairment</span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Land</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Plant and<br/> equipment</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Leasehold<br/> Improvements</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Motor<br/> Vehicles</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Computers</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Furniture <br/> and fixtures</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Fibre Optics<br/> Projects</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Telecom <br/> Towers</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Machinery &amp; <br/> Sat. Equip</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Construction-<br/> in-progress</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Total</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 17.5%"><span style="font-size: 8pt">Balance, December 31, 2023</span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">737,994</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">7,902,730</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right">                   <span style="-sec-ix-hidden: hidden-fact-280; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">9,174</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">1,135</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">76,998</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-281; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-282; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-283; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-284; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">8,728,031</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in"><span style="font-size: 8pt">Impact of sale of RPK</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(737,994</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(7,902,730</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-285; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(9,174</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(1,135</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(76,998</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-286; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-287; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-288; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-289; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">(8,728,031</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt">)</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in"><span style="font-size: 8pt">Balance, December 31, 2024</span></td><td style="font-weight: bold"><span style="font-size: 8pt"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-290; font-size: 8pt">—</span></td><td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold"><span style="font-size: 8pt"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-291; font-size: 8pt">—</span></td><td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold"><span style="font-size: 8pt"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-292; font-size: 8pt">—</span></td><td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold"><span style="font-size: 8pt"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-293; font-size: 8pt">—</span></td><td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold"><span style="font-size: 8pt"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-294; font-size: 8pt">—</span></td><td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold"><span style="font-size: 8pt"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-295; font-size: 8pt">—</span></td><td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold"><span style="font-size: 8pt"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-296; font-size: 8pt">—</span></td><td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold"><span style="font-size: 8pt"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-297; font-size: 8pt">—</span></td><td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold"><span style="font-size: 8pt"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-298; font-size: 8pt">—</span></td><td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold"><span style="font-size: 8pt"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-299; font-size: 8pt">—</span></td><td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold"><span style="font-size: 8pt"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-300; font-size: 8pt">—</span></td><td style="font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in"><span style="font-size: 8pt">Addition</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">2,158,885</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-301; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-302; font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><span style="font-size: 8pt">—</span></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">1,999</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">3,931</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">906,133</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">1,324,749</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">239,853</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">466,648</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-size: 8pt"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 8pt">5,102,198</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in"><span style="font-size: 8pt">Balance, December 31, 2025</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">2,158,885</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-303; font-size: 8pt">—</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-304; font-size: 8pt">—</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-305; font-size: 8pt">—</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">1,999</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">3,931</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">906,133</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">1,324,749</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">239,853</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">466,648</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">5,102,198</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td></tr> </table> <p style="margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 7pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-weight: bold; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Net book value</span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Land</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Plant and<br/> equipment</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Leasehold<br/> Improvements</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Motor <br/> Vehicles</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Computers</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Furniture<br/> and fixtures</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Fibre Optics<br/> Projects</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Telecom<br/> Towers</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Machinery &amp;<br/> Sat. Equip</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Construction<br/> -in-progress</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 8pt"> </span></td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><span style="font-size: 8pt">Total</span></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -9pt; padding-left: 9pt; width: 17.5%"><span style="font-size: 8pt">Balance, December 31, 2024</span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">2,215,000</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right">           <span style="-sec-ix-hidden: hidden-fact-306; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">118,036</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right">          <span style="-sec-ix-hidden: hidden-fact-307; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">3,785</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">2,361</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-308; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-309; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-310; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-311; font-size: 8pt">—</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td><td style="width: 0.5%"><span style="font-size: 8pt"> </span></td> <td style="width: 0.5%; text-align: left"><span style="font-size: 8pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 8pt">2,339,182</span></td><td style="width: 0.5%; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"><span style="font-size: 8pt">Balance, December 31, 2025</span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">315,619</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-312; font-size: 8pt">—</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">94,463</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="-sec-ix-hidden: hidden-fact-313; font-size: 8pt">—</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">3,525</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">2,608</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">565,656</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">879,269</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">159,198</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">345,493</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-weight: bold; padding-bottom: 4pt"><span style="font-size: 8pt"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><span style="font-size: 8pt">$</span></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><span style="font-size: 8pt">2,365,831</span></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td></tr> </table> 1355337 12502023 1538 32716 48862 134956 14075432 1950000 141806 3776 2556 2098138 909551 12148749 28983 25610 126346 13239239 -180786 -353274 -6683 -3733 -15610 -6227 -566313 2215000 136661 11418 4939 2368018 3765 6574 534284 2323038 423505 832054 4123220 150000 1076062 7764 230 1234056 -1627 -8405 -5308 -15340 109504 6660 498 412 -52473 -15848 -15207 -19913 13633 2474504 141694 7276 6617 1557873 2314954 408528 812141 7723587 2723166 308 21364 44761 38570 2828169 18907 315 19222 255023 309 2202 3253 4497 265284 2662688 19866 24764 34669 2741987 -315501 -899 -3700 -15932 -5820 -341852 18625 7633 2578 28836 27804 1583 115 124721 111445 14320 279988 104 309 513 926 -760 -8204 -3309 -12273 1458 431 181 -38637 -509 -4843 -41919 47231 1752 78 86084 110936 9477 255558 737994 7902730 9174 1135 76998 8728031 737994 7902730 9174 1135 76998 8728031 2158885 1999 3931 906133 1324749 239853 466648 5102198 2158885 1999 3931 906133 1324749 239853 466648 5102198 2215000 118036 3785 2361 2339182 315619 94463 3525 2608 565656 879269 159198 345493 2365831 1769221 3067 281229 284509 926 2943313 2158885 1800000 156 431149 600000 600000 250000 150000 100000 500000 500000 750000 750000 750000 1107385 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>11.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Right-of-use Assets</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">On January 1, 2025, the Company entered into a lease agreement for an office space with a monthly lease payment of $12,000 over a period of two years. The right-of-use assets recognized was measured at an amount equal to the recognized lease liabilities (note 14).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Pursuant to the acquisition of First Towers (note 4), part of the net assets assumed by the Company consist primarily of ground leases for tower and fiber infrastructure sites in Mexico. As of this period, First Towers owns and deployed 24 towers and an additional 6 are under construction. These assets are depreciated on a straight-line basis over the lease term.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">During the year ended December 31, 2025, subsequent to the acquisition, First Towers completed the construction of 6 lease towers, and with this First Towers now have 30 cellular towers deployed. Of the six towers, three were leased and have the following monthly lease payment and terms: MX$6,500 over a period of 10 years, MX$4,000 over a period of 10 years and MX$5,000 over a period of 5 years. The lease for the remaining three towers is still pending and have been deemed as not yet available for use during the year ended December 31, 2025. The right-of-use assets recognized was measured at an amount equal to the recognized lease liabilities (note 14).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The details of the right-of-use assets recognized as at December 31, 2025 are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Office lease</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Tower and Fiber<br/> Infrastructure</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Balance, December 31, 2023</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">121,982</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-314">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">121,982</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(118,049</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-315">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(118,049</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Movement in exchange rates</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,933</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-316">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,933</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td>Balance, December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-317">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-318">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-319">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">272,274</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">64,530</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">336,804</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Acquisition (note 4)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-320">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">181,206</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">181,206</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(140,123</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(13,582</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(153,705</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Impairment loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-321">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(137,785</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(137,785</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Movement in exchange rates</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,987</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,918</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,069</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; padding-bottom: 4pt">Balance, December 31, 2025</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">136,138</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">91,451</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">227,589</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">During the year ended December 31, 2025, the Company recorded amortization on its right-of-use assets of $153,726 (2024 — $118,049).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In connection with the annual test performed for goodwill (note 12), the Company assessed that the sum of the carrying value of the CGU of First Towers and goodwill greatly exceeds the fair value of First Towers’ business. As a result, the excess of calculated impairment loss, after reducing goodwill, was pro-rated to PPE and ROU assets as at December 31, 2025. An impairment loss of $137,785 was recorded in the consolidated statements of loss and comprehensive loss during the year ended December 31, 2025.</p> 12000 P2Y 6500 P10Y 4000 P10Y 5000 P5Y <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The details of the right-of-use assets recognized as at December 31, 2025 are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Office lease</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Tower and Fiber<br/> Infrastructure</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Balance, December 31, 2023</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">121,982</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-314">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">121,982</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(118,049</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-315">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(118,049</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Movement in exchange rates</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,933</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-316">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,933</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td>Balance, December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-317">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-318">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-319">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">272,274</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">64,530</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">336,804</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Acquisition (note 4)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-320">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">181,206</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">181,206</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(140,123</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(13,582</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(153,705</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Impairment loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-321">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(137,785</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(137,785</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Movement in exchange rates</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,987</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,918</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,069</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; padding-bottom: 4pt">Balance, December 31, 2025</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">136,138</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">91,451</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">227,589</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table> 121982 121982 118049 118049 -3933 -3933 272274 64530 336804 181206 181206 140123 13582 153705 -137785 -137785 3987 -2918 1069 136138 91451 227589 153726 118049 137785 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>12.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Intangible Assets and Goodwill</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Cost:</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Software</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Licences</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Goodwill</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%">Balance, December 31, 2023</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">19,554</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">24,664,298</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-322">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">24,683,852</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Impact of sale of RPK</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(18,663</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(24,648,225</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-323">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(24,666,888</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Movement in exchange rates</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(891</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(246</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-324">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,137</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td>Balance, December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-325">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,827</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-326">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,827</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Acquisition (note 4)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-327">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-328">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">39,572,129</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">39,572,129</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Impact on loss of control of Canmart</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-329">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(17,009</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-330">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(17,009</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Movement in exchange rates</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-331">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,182</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-332">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,182</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; padding-bottom: 4pt">Balance, December 31, 2025</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-333">—</div></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-334">—</div></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">39,572,129</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">39,572,129</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Accumulated amortization:</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Software</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Licences</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Goodwill</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%">Balance, December 31, 2023</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">16,992</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">4,929,645</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-335">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">4,946,637</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-336">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-337">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-338">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-339">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Impact of sale of RPK</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(16,593</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,929,645</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-340">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,946,238</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Movement in exchange rates</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(399</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-341">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-342">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(399</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt">Balance, December 31, 2024 and 2025</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-343">—</div></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-344">—</div></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-345">—</div></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-346">—</div></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Impairment:</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Software</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Licences</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Goodwill</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%">Balance, December 31, 2023</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,070</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">15,935,463</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-347">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">15,937,533</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt">Impact of sale of RPK</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,070</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(15,935,463</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-348">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(15,937,533</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance, December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-349">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-350"> </div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-351">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-352">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt">Addition</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-353">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-354">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">39,572,129</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">39,572,129</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt">Balance, December 31, 2025</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-355">—</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-356">—</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">39,572,129</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">39,572,129</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Net book value:</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Software</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Licences</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Goodwill</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%">Balance, December 31, 2024</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-357">     —</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">15,827</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-358">     —</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">15,827</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; padding-bottom: 4pt"><b>Balance, December 31, 2025</b></td><td style="font-weight: bold; padding-bottom: 4pt"><b> </b></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><b>$</b></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><b style="-sec-ix-hidden: hidden-fact-359">—</b></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><b> </b></td><td style="font-weight: bold; padding-bottom: 4pt"><b> </b></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><b>$</b></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><b style="-sec-ix-hidden: hidden-fact-360">—</b></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><b> </b></td><td style="padding-bottom: 4pt"><b> </b></td> <td style="border-bottom: Black 4pt double; text-align: left"><b>$</b></td><td style="border-bottom: Black 4pt double; text-align: right"><b style="-sec-ix-hidden: hidden-fact-361">—</b></td><td style="padding-bottom: 4pt; text-align: left"><b> </b></td><td style="padding-bottom: 4pt"><b> </b></td> <td style="border-bottom: Black 4pt double; text-align: left"><b>$</b></td><td style="border-bottom: Black 4pt double; text-align: right"><b style="-sec-ix-hidden: hidden-fact-362">—</b></td><td style="padding-bottom: 4pt; text-align: left"><b> </b></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">During the year ended December 31, 2024, concurrent to the sale of RPK, the Company derecognized RPK’s cannabis API manufacturing and GMP license with a net book value of $3,783,117 (note 5). As of December 31, 2024, the Company’s remaining intangible asset consist of cannabis distribution license with a carrying value of $15,827.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">During the year ended December 31, 2025, concurrent to the loss of control of Canmart, the Company derecognized Canmart’s cannabis distribution license with a net book value of $17,009 (note 6).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company performed its impairment test on goodwill and assessed that the sum of carrying value of CGU of First Towers and the carrying value of goodwill greatly exceeds the fair value of First Towers’ business. The calculated impairment loss was allocated to goodwill and other long-lived assets of First Towers — PPE (note 10) and ROU assets (note 11). Goodwill was fully impaired as at December 31, 2025 and an impairment loss of $39,572,129 was recorded in the consolidated statements of loss and comprehensive loss during the year ended December 31, 2025.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">As of December 31, 2025, the Company has <span style="-sec-ix-hidden: hidden-fact-363">nil</span> intangible assets and goodwill.</p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Cost:</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Software</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Licences</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Goodwill</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%">Balance, December 31, 2023</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">19,554</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">24,664,298</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-322">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">24,683,852</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Impact of sale of RPK</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(18,663</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(24,648,225</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-323">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(24,666,888</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Movement in exchange rates</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(891</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(246</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-324">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,137</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td>Balance, December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-325">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,827</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-326">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,827</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Acquisition (note 4)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-327">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-328">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">39,572,129</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">39,572,129</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Impact on loss of control of Canmart</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-329">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(17,009</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-330">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(17,009</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Movement in exchange rates</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-331">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,182</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-332">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,182</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; padding-bottom: 4pt">Balance, December 31, 2025</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-333">—</div></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-334">—</div></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">39,572,129</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">39,572,129</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Accumulated amortization:</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Software</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Licences</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Goodwill</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%">Balance, December 31, 2023</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">16,992</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">4,929,645</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-335">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">4,946,637</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-336">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-337">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-338">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-339">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Impact of sale of RPK</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(16,593</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,929,645</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-340">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,946,238</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Movement in exchange rates</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(399</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-341">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-342">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(399</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt">Balance, December 31, 2024 and 2025</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-343">—</div></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-344">—</div></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-345">—</div></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-346">—</div></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Impairment:</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Software</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Licences</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Goodwill</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%">Balance, December 31, 2023</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,070</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">15,935,463</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-347">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">15,937,533</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt">Impact of sale of RPK</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,070</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(15,935,463</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-348">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(15,937,533</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance, December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-349">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-350"> </div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-351">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-352">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt">Addition</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-353">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-354">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">39,572,129</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">39,572,129</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt">Balance, December 31, 2025</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-355">—</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-356">—</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">39,572,129</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">39,572,129</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Net book value:</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Software</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Licences</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Goodwill</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%">Balance, December 31, 2024</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-357">     —</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">15,827</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-358">     —</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">15,827</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; padding-bottom: 4pt"><b>Balance, December 31, 2025</b></td><td style="font-weight: bold; padding-bottom: 4pt"><b> </b></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><b>$</b></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><b style="-sec-ix-hidden: hidden-fact-359">—</b></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><b> </b></td><td style="font-weight: bold; padding-bottom: 4pt"><b> </b></td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"><b>$</b></td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><b style="-sec-ix-hidden: hidden-fact-360">—</b></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"><b> </b></td><td style="padding-bottom: 4pt"><b> </b></td> <td style="border-bottom: Black 4pt double; text-align: left"><b>$</b></td><td style="border-bottom: Black 4pt double; text-align: right"><b style="-sec-ix-hidden: hidden-fact-361">—</b></td><td style="padding-bottom: 4pt; text-align: left"><b> </b></td><td style="padding-bottom: 4pt"><b> </b></td> <td style="border-bottom: Black 4pt double; text-align: left"><b>$</b></td><td style="border-bottom: Black 4pt double; text-align: right"><b style="-sec-ix-hidden: hidden-fact-362">—</b></td><td style="padding-bottom: 4pt; text-align: left"><b> </b></td></tr> </table> 19554 24664298 24683852 18663 24648225 24666888 -891 -246 -1137 15827 15827 39572129 39572129 17009 17009 1182 1182 39572129 39572129 16992 4929645 4946637 16593 4929645 4946238 -399 -399 2070 15935463 15937533 2070 15935463 15937533 39572129 39572129 39572129 39572129 15827 15827 3783117 15827 17009 39572129 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>13.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Loan Receivable</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Loan to Cellen Life Sciences Limited (a)</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 9%; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-364">          —</div></td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">503,493</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Loan to an arm’s length party (b)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-365">—</div></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">83,357</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loan to First Towers &amp; Fiber Corp. (c)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-366">—</div></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">352,953</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Advances to Halo (d)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-367">—</div></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">15,219</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-368">—</div></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">955,022</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 10, 2022, the Company entered into an agreement (the “Loan Restructuring Agreement”) with Cellen Life Sciences Limited and Cellen Biotech Limited (collectively referred to as “Cellen”) which entails the restructuring of the payment terms applicable to the $500,000 loan payable by Cellen to the Company pursuant to a Bridge Loan Facility Agreement previously entered into on December 2, 2021. In terms of the Loan Restructuring Agreement, Cellen shall repay the $500,000 by no later than the fourth anniversary of the Loan Restructuring Agreement, namely by November 10, 2026. The loan shall not bear interest until the 2nd anniversary (namely November 10, 2024) of the Loan Restructuring Agreement, where thereafter, it shall bear interest at a rate of 5% per annum on the principal amount of the loan ($500,000). The loan is secured over the assets of Cellen. During the year ended December 31, 2025, the Company no longer controlled Canmart and as a result, the Company derecognized all assets and liabilities at their book values on May 30, 2025. The Company wrote down this loan with a net book value of $503,493 to $<span style="-sec-ix-hidden: hidden-fact-373">nil</span> (note 6).</span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2023, the Company loaned an amount of $84,020 (£66,000) to an arm’s length party. This loan is non-interest bearing, unsecured and has no specific terms of repayment. During the year ended December 31, 2024, the Company loaned out an additional $633 (£500). The additional loan is non-interest bearing, unsecured and has no specific terms of repayment. During the year ended December 31, 2025, the Company received a partial repayment of $347 (£270). As of December 31, 2025, the Company no longer controlled Canmart and as a result, the Company derecognized all assets and liabilities at their book values on May 30, 2025. The Company wrote down this loan with a net book value of $89,220 to $<span style="-sec-ix-hidden: hidden-fact-374">nil</span> (note 6.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</span></td> <td><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On November 21, 2024, the Company entered into a Bridge Loan Agreement with First Towers &amp; Fiber Corp., a corporation incorporated under the laws of the Province of British Columbia (“First Towers”) and a company controlled by a director of the Company (note 18), pursuant to which the Company loaned out $350,000 (the “Loan”) to First Towers. Interest of the prime rate (as defined in the Loan Agreement) plus 2% will accrue and be calculated daily on the principal amount of the Loan on the basis of the actual number of days the Loan is outstanding in a year of 365 or 366 days, as applicable, and will be compounded and payable monthly in arrears on the first business day of each month.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The obligations under the Loan will rank as the third ranking and most senior secured debt of First Towers. The Loan, together with all accrued interest, fees and other amount payable pursuant to the Loan Agreement, will be due and payable by First Towers in full on demand by the Company. In addition, First Towers has the right at any time to repay the Loan or any part of the Loan without premium, penalty or bonus. As general and continuing collateral security for the obligations under the Loan Agreement, First Towers agreed to execute and deliver to and in favor of the Company, a general security agreement creating a third-ranking security interest over all of First Towers’ property, an investment property pledge agreement creating a third-ranking security interest in all present and after acquired shares owned in First Towers (the “Pledged Shares”), a control agreement for the Pledged Shares, and an insurance transfer and consent, assigning certain insurance of First Towers to the Company as mortgagee, third loss payee and additional named insured as required by the Loan Agreement.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the Bridge Loan Agreement, the Company shall also advance to First Towers a $1,000,000 loan on the same terms as the existing Loan Agreement. As of December 31, 2025, the Company lent out the following loans:</p></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">i.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 24, 2025, the Company lent an amount of $30,000 to First Towers. The loan is unsecured, bears interest of 20% per annum and payable within 12 months.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ii.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 14, 2025, the Company lent an amount of $170,000 to First Towers. The loan is unsecured, bears interest of 20% per annum and payable within 12 months.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">iii.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 2, 2025, the Company lent a total amount of $200,000 to First Towers. The loan is unsecured, bears interest of 20% per annum and payable within 12 months.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 0.5in"> </td> <td style="width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">iv.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 1, 2025, the Company lent a total amount of $23,000 to First Towers. The loan is unsecured, bears interest of 20% per annum and payable within 12 months.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As at December 31, 2025, the loan receivable balance including interest was terminated in consolidation as of the closing of the First Towers Transaction on August 19, 2025.</span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</span></td> <td><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended December 31, 2024, the Company paid and accrued an amount of $15,969 (CAD21,875) of fees for services rendered by certain legal firms to Halo, a company controlled by the interim CEO of the Company (note 18). The transactions were accounted by the Company as advances or loans to Halo. The loans are non-interest bearing, unsecured and has no specific terms of repayment.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended December 31, 2025, the Company paid an additional amount of $220,030 (CAD307,437) of fees for services rendered by certain legal firms to Halo. These amounts, accounted as loans, are non-interest bearing, unsecured and have no specific terms of repayment. During the year ended December 31, 2025, the Company determined that the receivable balance are no longer collectible from Halo and recognized a write-off of $235,686.</p></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The details of the loans receivable recognized as at December 31, 2025 are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%">Balance, December 31, 2023</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">593,232</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Addition</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">366,602</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest Receivable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,446</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Movement in exchange rates</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(11,258</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance, December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">955,022</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Addition</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">643,030</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest Receivable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">92,638</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Cash payment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(347</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Impact on loss of control of Canmart</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(592,713</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Termination of loans to First Towers’ including interest, pursuant to the acquisition</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(868,591</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Write-off of loans to Halo</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(235,686</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Movement in exchange rates</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">6,647</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt">Balance, December 31, 2025</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-369">—</div></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Maturity</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Current</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: center"> </td><td style="width: 9%; text-align: center">2025</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-370">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">451,529</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt">Non-current</td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center">2026</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-371">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">503,493</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: center"> </td><td style="padding-bottom: 2.5pt; text-align: center"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-372">—</div></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">955,022</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Loan to Cellen Life Sciences Limited (a)</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left">$</td><td style="width: 9%; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-364">          —</div></td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">503,493</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Loan to an arm’s length party (b)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-365">—</div></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">83,357</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loan to First Towers &amp; Fiber Corp. (c)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-366">—</div></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">352,953</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Advances to Halo (d)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-367">—</div></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">15,219</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-368">—</div></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">955,022</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 10, 2022, the Company entered into an agreement (the “Loan Restructuring Agreement”) with Cellen Life Sciences Limited and Cellen Biotech Limited (collectively referred to as “Cellen”) which entails the restructuring of the payment terms applicable to the $500,000 loan payable by Cellen to the Company pursuant to a Bridge Loan Facility Agreement previously entered into on December 2, 2021. In terms of the Loan Restructuring Agreement, Cellen shall repay the $500,000 by no later than the fourth anniversary of the Loan Restructuring Agreement, namely by November 10, 2026. The loan shall not bear interest until the 2nd anniversary (namely November 10, 2024) of the Loan Restructuring Agreement, where thereafter, it shall bear interest at a rate of 5% per annum on the principal amount of the loan ($500,000). The loan is secured over the assets of Cellen. During the year ended December 31, 2025, the Company no longer controlled Canmart and as a result, the Company derecognized all assets and liabilities at their book values on May 30, 2025. The Company wrote down this loan with a net book value of $503,493 to $<span style="-sec-ix-hidden: hidden-fact-373">nil</span> (note 6).</span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2023, the Company loaned an amount of $84,020 (£66,000) to an arm’s length party. This loan is non-interest bearing, unsecured and has no specific terms of repayment. During the year ended December 31, 2024, the Company loaned out an additional $633 (£500). The additional loan is non-interest bearing, unsecured and has no specific terms of repayment. During the year ended December 31, 2025, the Company received a partial repayment of $347 (£270). As of December 31, 2025, the Company no longer controlled Canmart and as a result, the Company derecognized all assets and liabilities at their book values on May 30, 2025. The Company wrote down this loan with a net book value of $89,220 to $<span style="-sec-ix-hidden: hidden-fact-374">nil</span> (note 6.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</span></td> <td><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On November 21, 2024, the Company entered into a Bridge Loan Agreement with First Towers &amp; Fiber Corp., a corporation incorporated under the laws of the Province of British Columbia (“First Towers”) and a company controlled by a director of the Company (note 18), pursuant to which the Company loaned out $350,000 (the “Loan”) to First Towers. Interest of the prime rate (as defined in the Loan Agreement) plus 2% will accrue and be calculated daily on the principal amount of the Loan on the basis of the actual number of days the Loan is outstanding in a year of 365 or 366 days, as applicable, and will be compounded and payable monthly in arrears on the first business day of each month.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The obligations under the Loan will rank as the third ranking and most senior secured debt of First Towers. The Loan, together with all accrued interest, fees and other amount payable pursuant to the Loan Agreement, will be due and payable by First Towers in full on demand by the Company. In addition, First Towers has the right at any time to repay the Loan or any part of the Loan without premium, penalty or bonus. As general and continuing collateral security for the obligations under the Loan Agreement, First Towers agreed to execute and deliver to and in favor of the Company, a general security agreement creating a third-ranking security interest over all of First Towers’ property, an investment property pledge agreement creating a third-ranking security interest in all present and after acquired shares owned in First Towers (the “Pledged Shares”), a control agreement for the Pledged Shares, and an insurance transfer and consent, assigning certain insurance of First Towers to the Company as mortgagee, third loss payee and additional named insured as required by the Loan Agreement.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the Bridge Loan Agreement, the Company shall also advance to First Towers a $1,000,000 loan on the same terms as the existing Loan Agreement. As of December 31, 2025, the Company lent out the following loans:</p></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</span></td> <td><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended December 31, 2024, the Company paid and accrued an amount of $15,969 (CAD21,875) of fees for services rendered by certain legal firms to Halo, a company controlled by the interim CEO of the Company (note 18). The transactions were accounted by the Company as advances or loans to Halo. The loans are non-interest bearing, unsecured and has no specific terms of repayment.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended December 31, 2025, the Company paid an additional amount of $220,030 (CAD307,437) of fees for services rendered by certain legal firms to Halo. These amounts, accounted as loans, are non-interest bearing, unsecured and have no specific terms of repayment. During the year ended December 31, 2025, the Company determined that the receivable balance are no longer collectible from Halo and recognized a write-off of $235,686.</p></td></tr> </table> 503493 83357 352953 15219 955022 500000 500000 0.05 500000 503493 84020 66000 633 500 347 270 89220 350000 0.02 1000000 30000 0.20 P12M 170000 0.20 P12M 200000 0.20 P12M 23000 0.20 P12M 15969 21875 220030 307437 -235686 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The details of the loans receivable recognized as at December 31, 2025 are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%">Balance, December 31, 2023</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">593,232</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Addition</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">366,602</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest Receivable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,446</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Movement in exchange rates</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(11,258</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance, December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">955,022</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Addition</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">643,030</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest Receivable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">92,638</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Cash payment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(347</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Impact on loss of control of Canmart</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(592,713</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Termination of loans to First Towers’ including interest, pursuant to the acquisition</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(868,591</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Write-off of loans to Halo</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(235,686</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Movement in exchange rates</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">6,647</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt">Balance, December 31, 2025</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-369">—</div></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 593232 366602 6446 -11258 955022 643030 92638 347 592713 868591 -235686 6647 <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Maturity</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Current</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: center"> </td><td style="width: 9%; text-align: center">2025</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-370">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">451,529</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt">Non-current</td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center">2026</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-371">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">503,493</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 2.5pt; text-align: center"> </td><td style="padding-bottom: 2.5pt; text-align: center"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-372">—</div></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">955,022</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> P2025Y 451529 P2026Y 503493 955022 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>14.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Lease Liability</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">On January 1, 2025, the Company entered into a lease agreement for an office space with a monthly lease payment of $12,000 over a period of two years. Under IFRS 16, the Company recognizes lease liabilities measured at the present value of the remaining lease payments, discounted using the Company’s incremental borrowing rate.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Pursuant to the acquisition of First Towers (note 4), part of the net liabilities assumed by the Company consist primarily of ground leases for tower and fiber infrastructure sites in Mexico. As of the acquisition date, First Towers owns and deployed 24 towers and an additional 6 are under construction.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">During the year ended December 31, 2025, subsequent to the acquisition, First Towers completed the construction of 6 lease towers, and with this First Towers now have 30 cellular towers deployed. Of the six towers, three were leased and have the following monthly lease payment and terms: MX$6,500 over a period of 10 years, MX$4,000 over a period of 10 years and MX$5,000 over a period of 5 years. The lease for the remaining three towers is still pending and have been deemed as not yet available for use during the year ended December 31, 2025. All leases contain extension and termination options to provide flexibility in managing the portfolio. Under IFRS 16, the Company recognizes lease liabilities measured at the present value of the remaining lease payments, discounted using First Towers’ existing incremental borrowing rate.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The details of the lease liability recognized as at December 31, 2025 are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Office Lease</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Tower Leases</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Balance, December 31, 2023</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">135,337</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-375">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">135,337</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Accrued interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,663</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-376">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,663</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Lease payables transferred back from AP for cash settlement</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">160,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-377">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">160,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Cash payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(300,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-378">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(300,000</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Movement in exchange rates</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-379">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-380">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-381">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Balance, December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-382">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-383">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-384">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">272,274</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">64,653</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">336,927</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Acquisition (note 4)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-385">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">189,096</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">189,096</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,564</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,973</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20,537</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Cash payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(96,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(17,782</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(113,782</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Reclass to Accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(48,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-386">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(48,000</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Movement in exchange rates</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-387">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">11,343</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">11,343</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt">Balance, December 31, 2025</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">139,838</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">256,283</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">396,121</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td> <td style="text-align: center"> </td> <td style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Maturity</b></span></td> <td style="text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Incremental<br/> borrowing rate</b></span></td> <td style="text-align: center"> </td> <td style="text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31,<br/> 2025</b></span></td> <td style="text-align: center"> </td> <td style="text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31,<br/> 2024</b></span></td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 36%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current</span></td> <td style="width: 1%"> </td> <td style="width: 13%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2025</span></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 13%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.83% - 5.45</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td> <td style="width: 1%"> </td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="width: 13%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">187,442</span></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="width: 15%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-388; font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; "> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-current</span></td> <td> </td> <td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2035</span></td> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.83% - 5.45</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td> <td> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">208,679</span></td> <td> </td> <td> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-389; font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td> </td> <td> </td> <td style="padding-bottom: 4.5pt; text-align: right"> </td> <td> </td> <td style="padding-bottom: 4.5pt"> </td> <td style="padding-bottom: 4.5pt; text-align: right"> </td> <td> </td> <td> </td> <td style="border-bottom: black 4.5pt double"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: black 4.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>396,121</b></span></td> <td> </td> <td> </td> <td style="border-bottom: black 4.5pt double"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: black 4.5pt double; text-align: right"><span style="-sec-ix-hidden: hidden-fact-390; font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company has committed to the following undiscounted minimum lease payments remaining as at December 31, 2025:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Years ended December 31:</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left">2026</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">213,739</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">51,553</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">51,553</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">51,553</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">51,553</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt">Thereafter</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">67,227</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">487,178</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 12000 P2Y 6500 P10Y 4000 P10Y 5000 P5Y <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The details of the lease liability recognized as at December 31, 2025 are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Office Lease</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Tower Leases</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Balance, December 31, 2023</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">135,337</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-375">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">135,337</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Accrued interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,663</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-376">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,663</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Lease payables transferred back from AP for cash settlement</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">160,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-377">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">160,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Cash payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(300,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-378">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(300,000</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Movement in exchange rates</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-379">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-380">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-381">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Balance, December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-382">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-383">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-384">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">272,274</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">64,653</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">336,927</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Acquisition (note 4)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-385">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">189,096</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">189,096</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,564</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,973</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20,537</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Cash payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(96,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(17,782</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(113,782</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Reclass to Accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(48,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-386">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(48,000</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Movement in exchange rates</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-387">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">11,343</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">11,343</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt">Balance, December 31, 2025</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">139,838</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">256,283</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">396,121</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company has committed to the following undiscounted minimum lease payments remaining as at December 31, 2025:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Years ended December 31:</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left">2026</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">213,739</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">51,553</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">51,553</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">51,553</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">51,553</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt">Thereafter</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">67,227</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">487,178</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 135337 135337 4663 4663 160000 160000 -300000 -300000 272274 64653 336927 189096 189096 11564 8973 20537 -96000 -17782 -113782 -48000 -48000 11343 11343 139838 256283 396121 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td> <td style="text-align: center"> </td> <td style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Maturity</b></span></td> <td style="text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Incremental<br/> borrowing rate</b></span></td> <td style="text-align: center"> </td> <td style="text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31,<br/> 2025</b></span></td> <td style="text-align: center"> </td> <td style="text-align: center"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31,<br/> 2024</b></span></td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 36%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current</span></td> <td style="width: 1%"> </td> <td style="width: 13%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2025</span></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 13%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.83% - 5.45</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td> <td style="width: 1%"> </td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="width: 13%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">187,442</span></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="width: 15%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-388; font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom; "> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-current</span></td> <td> </td> <td style="padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2035</span></td> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.83% - 5.45</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td> <td> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">208,679</span></td> <td> </td> <td> </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-389; font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td> </td> <td> </td> <td style="padding-bottom: 4.5pt; text-align: right"> </td> <td> </td> <td style="padding-bottom: 4.5pt"> </td> <td style="padding-bottom: 4.5pt; text-align: right"> </td> <td> </td> <td> </td> <td style="border-bottom: black 4.5pt double"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: black 4.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>396,121</b></span></td> <td> </td> <td> </td> <td style="border-bottom: black 4.5pt double"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: black 4.5pt double; text-align: right"><span style="-sec-ix-hidden: hidden-fact-390; font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td> </td></tr> </table> 0.0083 0.0545 187442 0.0083 0.0545 208679 396121 213739 51553 51553 51553 51553 67227 487178 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>15.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Loans and Borrowings</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><b> </b> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(a)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Bank loans:</i></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The loans below have been granted to Holigen Ltd. and its subsidiary in order to fund their capital and operational needs on site.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(i)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Short term loans</i></span></td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">As at December 31, 2023, the balance of the loans from Caixa was $875,016 which consisted of loans for the purpose of building construction and purchase of equipment. The repayment date on these loans are February 22, 2026 and June 5, 2026 respectively. These loans are charged with interest at the rate of 3% and are secured by mortgage of building and equipment. As of December 31, 2024, pursuant to the sale of RPK, the Company derecognized short term loans with a net book value of $918,198 (note 5).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(ii)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Long term loans</i></span></td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">As at December 31, 2023, the balance of the loans from Caixa was $2,497,155 which consisted of loans for the purpose of building construction and purchase of equipment. The repayment date on these loans are February 22, 2026 and June 5, 2026 respectively. These loans are charged with interest at the rate of 3% and are secured by mortgage of building and equipment. As at December 31, 2024, pursuant to the sale of RPK, the Company derecognized long term loans with a net book value of $2,455,890 (note 5).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">During the year ended December 31, 2024, the Company recognized interest expense of $124,205 from these loans which was recorded within discontinued operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(b)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Other loans:</i></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(i)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In connection with the acquisition of Holigen, the Company assumed a total loan of €124,890 from an arm’s length parties. The loans are non-interest bearing, unsecured and have no specific terms of repayment. As at December 31, 2025, the loan balance of $146,614 (2024 — $129,716) remains outstanding.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(ii)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2022, the Company received a loan of £25,000 ($30,224) from a former related party (note 18). The loan is unsecured and bears interest of £200 per week. The loan matured on January 31, 2023 and is due on demand. Any unpaid amount is charged with late fees of £200 for each week the payment is late.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On January 17, 2023, the Company received an additional loan of €45,000 ($48,666) from the same former related party. The loan is unsecured and bears interest of 0.75% per day, compounding daily. The loan matured on February 1, 2023 and is due on demand. Any unpaid amount is charged with late fees of 1% compounding interest for each day the payment is late. During the year ended December 31, 2023, the lender has willingly forgone any interest arising from this loan.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">During the year ended December 31, 2024, the Company recorded interest expense of $9,210 and paid these loans in full, including late fees amounting to $15,591. As at December 31, 2024, the loans balance including accrued interest was $<span style="-sec-ix-hidden: hidden-fact-391">nil</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(iii)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2023, the Company received loans of CAD$105,000 ($77,450) from an arm’s length parties. The loans bear interest of 18% per annum, unsecured and payable within 12 months. During the year ended December 31, 2025, the Company recorded interest expense of $4,706 (2024 — $13,808) and paid these loans in full.</span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(iv)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2023, the Company received loans of CAD$86,880 ($65,507) from an arm’s length parties. The loans bear interest of 7% per annum, unsecured and payable within 12 months.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">During the year ended December 31, 2024, the Company received additional loans of CAD$87,133 ($65,282) from an arm’s length parties. These loans bear the same interest of 7% per annum, unsecured and payable within 12 months.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The Company recorded interest expense of $4,640 (2024 — $8,854) from these loans and made a partial repayments of $102,585 during the year ended December 31, 2025. As at December 31, 2025, the remaining loans balance including accrued interest was $38,838 (2024 — $133,083).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(v)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In connection with the acquisition of First Towers (note 4), the Company assumed a total loans of CAD$237,061 ($171,247) from an arm’s length parties. Of the loans, CAD$137,061 ($100,000) bears interest at 12% per annum - compounded monthly and not in advance, and due on demand and the remaining CAD$100,000 ($71,247) is non-interest bearing, unsecured and have no specific terms of repayment. During the year ended December 31, 2025, the Company recorded interest expense of $18,802 (2024 — $<span style="-sec-ix-hidden: hidden-fact-392">nil</span>). As at December 31, 2025, the loans balance including accrued interest was $373,051 (2024 — $<span style="-sec-ix-hidden: hidden-fact-393">nil</span>) remains outstanding.</span></td></tr> </table> 875016 0.03 918198 2497155 0.03 2455890 124205 124890 146614 129716 25000 30224 200 January 31, 2023 200 45000 48666 0.0075 0.01 9210 15591 105000 77450 0.18 4706 13808 86880 65507 0.07 87133 65282 0.07 4640 8854 102585 38838 133083 237061 171247 137061 -100000 0.12 100000 -71247 18802 373051 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>16.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Convertible Promissory Notes</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">On September 12, 2025, the Company closed the Securities Purchase Agreement entered on September 11, 2025 with certain institutional investors (the “September Investors”), to issue and sell to each of the September Investors a convertible promissory note (each, individually, a “September Note” and collectively, the “September Notes”), for aggregate gross proceeds to the Company of $12,000,000, before deducting fees to the Placement Agent and other expenses payable by the Company in connection with the offering (the “September Offering”).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company intends to use the net proceeds (i) for marketing purposes of up to $3.5 million, (ii) for the renewal and continued development of the Company’s Gabriola, B.C. site, (iii) working capital and general corporate purposes of up $3 million and (iv) of up to $7 million for the repayment of certain indebtedness, of which approximately $6,500,000 was applied towards the partial payment of the Consideration Note.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">As compensation for such placement agent services, the Company paid the Placement Agent $300,000 in cash, an aggregate fee equal to 2.5% of the gross proceeds from the September Offering, plus $50,000 for its fees and expenses.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The maturity date of each September Note is the 12-month anniversary of the issuance date of such September Note, and is the date upon which the principal amount, as well as any other fees, shall be due and payable. The Notes bear interest at a rate of 10% per annum.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The September Note was determined to be a hybrid financial instrument with a liability and an embedded derivative liability. The Company has elected the option in IFRS 9 to recognize the September Note as one financial instrument at FVTPL. Under this approach, the transaction costs of $350,000 incurred in relation to September Note was recorded in the consolidated statements of loss and comprehensive loss. At the time of issuance, the Company determined the principal amount of $12,000,000 as the fair value of the September Note.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">During the year ended December 31, 2025, the Company issued 9,189,611 pre-consolidated common shares (408,427 post-consolidated common shares) pursuant to the conversion of an aggregate principal amount of $10,737,400, under the terms of the September Notes (note 17).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">During the year ended December 31, 2025, the Company assessed that the fair value of the converted September Notes was $9,957,773 and the fair value of the remaining September Note was $1,055,420. As a result, the Company recognized a total of $984,807 gain on change in fair value of financial liabilities measured at FVTPL in the consolidated statements of loss and comprehensive loss.</p> 12000000 3500000 3000000 7000000 6500000 300000 0.025 50000 0.10 350000 12000000 9189611 408427 10737400 9957773 1055420 984807 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>17.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Share Capital</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><b> </b></p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(a)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Authorized</i></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company has authorized share capital of an unlimited number of common shares, an unlimited number of Class A Special Shares, an unlimited number of Class B Special Shares, and an unlimited number of preferred shares, issuable in series, with <span style="-sec-ix-hidden: hidden-fact-404">no</span> par value.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">On May 21, 2024, the Company implemented a 1-for-40 Reverse Stock Split on its ordinary shares. No fractional shares were issued in connection with the Reverse Stock Split. Any fractional shares resulting from the Reverse Stock Split were rounded down to the nearest whole number.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">On November 14, 2024, the Company implemented a 1-for-2 Reverse Stock Split on its ordinary shares. No fractional shares were issued in connection with the Reverse Stock Split. Any fractional shares resulting from the Reverse Stock Split were rounded down to the nearest whole number.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">On August 26, 2025, the Company implemented a 1-for-3.125 Reverse Stock Split on its common shares. No fractional shares were issued in connection with the Reverse Stock Split. Any fractional shares resulting from the Reverse Stock Split were rounded down to the nearest whole number.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Subsequent to the year ended December 31, 2025, the Company implemented a 1-for-5 Reverse Stock Split and a 1-for-4.5 Reverse Stock Split on its common shares, respectively. No fractional shares were issued in connection with the Reverse Stock Split. Any fractional shares resulting from the Reverse Stock Split were rounded down to the nearest whole number. All share and per share data in these consolidated financial statements have been retroactively restated to reflect the effect of the reverse stock split (note 29).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(b)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Shares issued and outstanding</i></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Number of shares</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Capital</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-indent: -9pt; padding-left: 9pt">Balance, December 31, 2023</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">989</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">51,020,121</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -9pt; padding-left: 9pt">Issuance of shares from private placement</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,452</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,396,702</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -9pt; padding-left: 9pt">Issuance of shares upon exercise of prefunded warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">24,091</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,528,116</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -9pt; padding-left: 9pt">Cancelled shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,111</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,445,188</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -9pt; padding-left: 9pt">Share issuance costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-394">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(728,056</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Fair value of RSUs redeemed at $577.97 per share</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,677</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,547,703</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -9pt; padding-left: 9pt">Balance, December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29,098</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">63,319,398</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -9pt; padding-left: 9pt">Issuance of shares from private placement</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,250</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">320,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -9pt; padding-left: 9pt">Issuance of shares upon conversion of promissory note</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">408,427</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,737,400</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -9pt; padding-left: 9pt">Fair value adjustment on the converted promissory note</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-395">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(777,627</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -9pt; padding-left: 9pt">Share issuance costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-396">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(44,071</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Impact on loss of control of Canmart</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-397">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt">Balance, December 31, 2025</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">440,775</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">73,555,097</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">During the year ended December 31, 2025, the Company had the following share capital transactions:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(i)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 26, 2025, pursuant to a series of subscription agreement entered with investors on March 21 and 24, 2025, the Company completed its private offering with the issuance of 3,250 common shares at a subscription price of $98.44 per share for gross proceeds of $320,000.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(ii)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 2, 2025, pursuant to the conversion of promissory note (note 16), the Company issued 68,828 common shares at conversion price of $64.80 for an aggregate principal amount of $4,460,000.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(iii)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 6, 2025, pursuant to the conversion of promissory note (note 16), the Company issued 1,422 common shares at conversion price of $64.80 for an aggregate principal amount of $92,160.</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">During the year ended December 31, 2025, the Company had the following share capital transactions (continued):</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(iv)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 9, 2025, pursuant to the conversion of September Note (note 16), the Company issued 1,778 common shares at conversion price of $44.94 for an aggregate principal amount of $79,900.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(v)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 16, 2025, pursuant to the conversion of September Note (note 16), the Company issued 5,111 common shares at conversion price of $45.33 for an aggregate principal amount of $231,668.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(vi)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 21, 2025, pursuant to the conversion of September Note (note 16), the Company issued 10,222 common shares at conversion price of $42.65 for an aggregate principal amount of $435,965.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(vii)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 24, 2025, pursuant to the conversion of September Note (note 16), the Company issued 5,111 common shares at conversion price of $40.93 for an aggregate principal amount of $209,185.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(viii)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 14, 2025, pursuant to the conversion of September Note (note 16), the Company issued 5,111 common shares at conversion price of $24.67 for an aggregate principal amount of $126,097.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(ix)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 17, 2025, pursuant to the conversion of September Note (note 16), the Company issued 10,889 common shares at conversion price of $24.67 for an aggregate principal amount of $268,642.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(x)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 24, 2025, pursuant to the conversion of September Note (note 16), the Company issued 1,022 common shares at conversion price of $17.65 for an aggregate principal amount of $18,045.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(xi)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 26, 2025, pursuant to the conversion of September Note (note 16), the Company issued 1,333 common shares at conversion price of $18.63 for an aggregate principal amount of $24,837.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(xii)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 3, 2025, pursuant to the conversion of September Note (note 16), the Company issued 1,156 common shares at conversion price of $18.68 for an aggregate principal amount of $21,587.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(xiii)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 8, 2025, pursuant to the conversion of September Note (note 16), the Company issued 76,445 common shares at conversion price of $18.09 for an aggregate principal amount of $1,383,224.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(xiv)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 15, 2025, pursuant to the conversion of September Note (note 16), the Company issued 100,000 common shares at conversion price of $15.26 for an aggregate principal amount of $1,525,500.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(xv)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 16, 2025, pursuant to the conversion of September Note (note 16), the Company issued 8,889 common shares at conversion price of $18.09 and 11,111 common shares at conversion price of $15.68 for an aggregate principal amount of $335,090.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(xvi)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 18, 2025, pursuant to the conversion of September Note (note 16), the Company issued 55,555 common shares at conversion price of $15.26 for an aggregate principal amount of $847,500.</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">During the year ended December 31, 2025, the Company had the following share capital transactions (continued):</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(xvii)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 19, 2025, pursuant to the conversion of September Note (note 16), the Company issued 33,333 common shares at conversion price of $15.26 for an aggregate principal amount of $508,500.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(xviii)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 23, 2025, pursuant to the conversion of September Note (note 16), the Company issued 11,111 common shares at conversion price of $15.26 for an aggregate principal amount of $169,500.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(xix)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In connection with the private placement completed during the year, the Company incurred a total share issuance costs of $44,071.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">During the year ended December 31, 2024, the Company had the following share capital transactions:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(i)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 2, 2024, pursuant to the securities purchase agreement entered with Corbo Capital Inc. on February 1, 2024, the Company announced closing of registered direct offering with the issuance of 49 common shares at a purchase price of $2,283.75 per share and prefunded warrants to purchase 260 common shares at a price of $2,283.19 per share for gross proceeds of $708,000. The prefunded warrants were immediately exercisable for $0.56 per share and may be exercised at any time until all of the prefunded warrants are exercised in full, subject to certain beneficial ownership limitations as set forth in the prefunded warrant. Under the residual method, the Company allotted $3,370 to the prefunded warrants and recorded the value under other reserves in the consolidated statements of financial position. During the year ended December 31, 2024, the Company issued 260 common shares pursuant the exercise of above prefunded warrants.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(ii)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 4, 2024, pursuant to the securities purchase agreement entered with Corbo Capital Inc. on March 1, 2024, the Company announced closing of registered direct offering with the issuance of 65 common shares at a purchase price of $1,155.60 per share and prefunded warrants to purchase 64 common shares at a price of $1,155.04 per share for gross proceeds of $150,000. The prefunded warrants were immediately exercisable for $0.56 per share and may be exercised at any time until all of the prefunded warrants are exercised in full, subject to certain beneficial ownership limitations as set forth in the prefunded warrant. <span style="-sec-ix-hidden: hidden-fact-405">No</span> value has been allotted to the prefunded warrants under the residual method. During the year ended December 31, 2024, the Company issued 64 common shares pursuant the exercise of above prefunded warrants.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(iii)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 5, 2024, pursuant to the securities purchase agreement entered with Corbo Capital Inc. on March 4, 2024, the Company announced closing of registered direct offering with the issuance of 65 common shares at a purchase price of $949.05 per share and prefunded warrants to purchase 66 common shares at a price of $948.49 per share for gross proceeds of $125,000. The prefunded warrants were immediately exercisable for $0.56 per share and may be exercised at any time until all of the prefunded warrants are exercised in full, subject to certain beneficial ownership limitations as set forth in the prefunded warrant. <span style="-sec-ix-hidden: hidden-fact-406">No</span> value has been allotted to the prefunded warrants under the residual method. During the year ended December 31, 2024, the Company issued 66 common shares pursuant the exercise of above prefunded warrants.</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">During the year ended December 31, 2024, the Company had the following share capital transactions (continued):</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(iv)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 27, 2024, pursuant to an underwriting agreement entered with Univest Securities, LLC (“Univest”) as the underwriter on March 25, 2024, the Company announced closing of underwritten public offering with the issuance of 548 common shares at a purchase price of $684.56 per share and prefunded warrants to purchase 8,866 common shares at a price of $684.00 per share for gross proceeds of $5,000,000. The prefunded warrants are immediately exercisable for $0.56 per share and may be exercised at any time until all of the prefunded warrants are exercised in full, subject to certain beneficial ownership limitations as set forth in the prefunded warrant. <span style="-sec-ix-hidden: hidden-fact-407">No</span> value has been allotted to the prefunded warrants under the residual method. During the year ended December 31, 2024, the Company issued 8,866 common shares pursuant the exercise of above prefunded warrants.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(v)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 26, 2024, the Company cancelled 2,111 common shares with a fair value of $1,445,188.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(vi)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 17, 2024, pursuant to the securities purchase agreement entered with DRNK Beverage Corp. on the same day, the Company announced the 1^st closing of registered direct offering with the issuance of 442 common shares at a purchase price of $579.94 per share and prefunded warrants to purchase 3,867 common shares at a price of $579.38 per share for gross proceeds of $2,500,000. The prefunded warrants are immediately exercisable for $0.56 per share and may be exercised at any time until all of the prefunded warrants are exercised in full, subject to certain beneficial ownership limitations as set forth in the prefunded warrant. No value has been allotted to the prefunded warrants under the residual method. During the year ended December 31, 2024, the Company issued 3,867 common shares pursuant the exercise of above prefunded warrants.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(vii)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 20, 2024, pursuant to the securities purchase agreement entered with DRNK Beverage Corp. on May 17, 2024, the Company announced the 2^nd closing of registered direct offering with the issuance of 442 common shares at a purchase price of $579.94 per share, and prefunded warrants to purchase 2,143 common shares at a price of $579.38 per share for gross proceeds of $1,500,000. The prefunded warrants are immediately exercisable for $0.56 per share and may be exercised at any time until all of the prefunded warrants are exercised in full, subject to certain beneficial ownership limitations as set forth in the prefunded warrant. No value has been allotted to the prefunded warrants under the residual method. During the year ended December 31, 2024, the Company issued 2,143 common shares pursuant the exercise of above prefunded warrants.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(viii)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 24, 2024, the Company issued 2,677 common shares at a fair value of $1,547,703 on the RSUs granted to consultants of the Company to settle up consulting fees amounting to $900,000. As a result of the settlement, the Company recognized a loss on debt settlement of $647,703 in the consolidated statements of loss and comprehensive loss.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(ix)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 3, 2024, pursuant to an underwriting agreement entered with Univest as the underwriter on October 2, 2024, the Company announced closing of underwritten public offering with the issuance of 1,841 common shares at a purchase price of $140.625 per share and prefunded warrants to purchase 8,825 common shares at a price of $140.611 per share for gross proceeds of $1,500,000. The prefunded warrants are immediately exercisable for $0.014 per share and may be exercised at any time until all of the prefunded warrants are exercised in full, subject to certain beneficial ownership limitations as set forth in the prefunded warrant. During the year ended December 31, 2024, the Company issued 8,825 common shares pursuant the exercise of above prefunded warrants.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(x)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In connection with the closed direct offerings and underwriting public offerings completed during the year ended December 31, 2024, the Company incurred a total share issuance cost of $728,056.</span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(c)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Special Shares</i></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="text-decoration:underline">Class A Special Shares</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">On August 29, 2025, the Company approved an amendment of the Articles to create a new class of special common shares without nominal or par value (the “Class A Special Shares). The Class A Special Shares is convertible into Company common shares on a one for one basis. The holders of the Class A Special Shares shall be entitled to one vote for each Class A Special Shares held at all meetings of shareholders of the Corporation and shall vote as a single class with the Common Shares.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In the event of any Liquidation Distribution, subject to the prior rights of the holders of the shares of any other class ranking senior to the Common Shares and equal in rank to the Common Shares and Class B Special Shares, the holders of the Class A Special Shares shall be entitled to receive all remaining property and assets of the Corporation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="text-decoration:underline">Class B Special Shares</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">On August 29, 2025, the Company approved an amendment of the Articles to create a new class of special common shares without nominal or par value (the “Class B Special Shares”). The Class B Special Shares is convertible into Company common shares on a one for one basis. The holders of the Class B Special Shares shall be entitled to one vote for each Class B Special Share held at all meetings of shareholders of the Corporation and shall vote as a single class with the Common Shares and the Class A Special Shares, other than meetings at which only the holders of another class or series of shares are entitled to vote separately as a class or series.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In the event of any Liquidation Distribution, subject to the prior rights of the holders of the shares of any other class ranking senior to the Common Shares and equal in rank to the Class A Special Shares and Common Shares, the holders of the Class B Special Shares shall be entitled to receive all remaining property and assets of the Corporation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><b>Issued and Outstanding</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">On August 29, 2025, the Company issued 6,441 Class A Special Shares with a fair value of $597,836 pursuant to the acquisition of First Towers in accordance with the terms of the amended SEA (note 4).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">On November 28, 2025, the Company issued 212,265 Class B Special Shares with a fair value of $19,700,885 pursuant to the acquisition of First Towers in accordance with the terms of the amended SEA (note 4) and 32,549 Class B Special Shares with a fair value $754,356 pursuant to the settlement of PGC DSA and Dunstan DSA. In connection with the debt settlement, the Company recognized a gain on debt settlement of $1,893,196 in the consolidated statements of loss and comprehensive loss.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">A summary of the Company’s outstanding Special Shares as at December 31, 2025 are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Number of Class A Special Shares</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Number of Class B Special Shares</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Capital</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance, December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-398">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-399">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-400">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="width: 64%; text-align: left">Issuance of special shares pursuant to the acquisition of First Towers</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">6,441</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">212,265</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">20,298,721</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Issuance of special shares pursuant to a debt settlement</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-401">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">32,549</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">754,356</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; padding-bottom: 4pt">Balance, December 31, 2025</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">6,441</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">244,814</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">21,053,077</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(d)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Loss per share</i></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The weighted average number of common shares outstanding for basic and diluted loss per share for the year ended December 31, 2025 was 68,941 (2024 — 14,819). The Company did not have any potential dilution during the years ended December 31, 2025 and 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(e)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Restricted stock units </i></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In order to incentivize senior executive management and key staff, the Company makes use of equity incentives awarded pursuant to the Employee Share Ownership Plan (“ESOP”). In terms of the ESOP, as amended in March 2024, the Company may award up to 30% of the Company’s issued share capital (at any point in time) in qualifying ESOP incentives.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">On May 24, 2024, the Company granted 2,677 restricted stock units (“RSUs”) at a market price of $577.97 to consultants of the Company to settle consulting payables of $900,000. Each of the RSUs vest immediately. The fair value of the granted RSUs was estimated to be $1,547,703. 2,677 of the granted RSUs were exercised during the year ended December 31, 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">A summary of the Company’s outstanding RSUs as at December 31, 2025 are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Number of RSUs</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance, December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-402">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="width: 88%">Granted</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">2,677</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Exercised</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,677</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; padding-bottom: 4pt">Balance, December 31, 2024 and 2025</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-403">—</div></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">During the year ended December 31, 2024, the Company recorded $798,795 of expenses related to the RSUs as consulting and accounting fees, $100,000 remains as prepaid expenses, $647,703 recognized as gain on debt settlement and the remaining $1,205 due to foreign currency translation was recorded to accumulated other comprehensive income.</p> 1-for-40 1-for-2 1-for-3.125 <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Shares issued and outstanding</i></b></span><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Number of shares</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Capital</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-indent: -9pt; padding-left: 9pt">Balance, December 31, 2023</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">989</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">51,020,121</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -9pt; padding-left: 9pt">Issuance of shares from private placement</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,452</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,396,702</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -9pt; padding-left: 9pt">Issuance of shares upon exercise of prefunded warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">24,091</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,528,116</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -9pt; padding-left: 9pt">Cancelled shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,111</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,445,188</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -9pt; padding-left: 9pt">Share issuance costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-394">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(728,056</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Fair value of RSUs redeemed at $577.97 per share</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,677</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,547,703</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -9pt; padding-left: 9pt">Balance, December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29,098</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">63,319,398</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -9pt; padding-left: 9pt">Issuance of shares from private placement</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,250</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">320,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -9pt; padding-left: 9pt">Issuance of shares upon conversion of promissory note</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">408,427</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,737,400</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -9pt; padding-left: 9pt">Fair value adjustment on the converted promissory note</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-395">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(777,627</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -9pt; padding-left: 9pt">Share issuance costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-396">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(44,071</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Impact on loss of control of Canmart</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-397">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt">Balance, December 31, 2025</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">440,775</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">73,555,097</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table> 989 51020121 3452 1396702 24091 11528116 -2111 -1445188 728056 577.97 2677 1547703 29098 63319398 3250 320000 408427 10737400 -777627000000 44071 -3 440775 73555097 3250 98.44 320000 68828 64.8 4460000 1422 64.8 92160 1778 44.94 79900 5111 45.33 231668 10222 42.65 435965 5111 40.93 209185 5111 24.67 126097 10889 24.67 268642 1022 17.65 18045 1333 18.63 24837 1156 18.68 21587 76445 18.09 1383224 100000 15.26 1525500 8889 18.09 11111 15.68 335090 55555 15.26 847500 33333 15.26 508500 11111 15.26 169500 44071 49 2283.75 260 2283.19 708000 0.56 3370 260 65 1155.6 64 1155.04 150000 0.56 64 65 949.05 66 948.49 125000 0.56 66 548 684.56 8866 684 5000000 0.56 8866 2111 1445188 442 579.94 3867 579.38 2500000 0.56 3867 442 579.94 2143 579.38 1500000 0.56 2143 2677 1547703 900000 647703 1841 140.625 8825 140.611 1500000 0.014 8825 728056 6441 597836 212265 19700885 32549 754356 1893196 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">A summary of the Company’s outstanding Special Shares as at December 31, 2025 are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Number of Class A Special Shares</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Number of Class B Special Shares</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Capital</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance, December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-398">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-399">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-400">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="width: 64%; text-align: left">Issuance of special shares pursuant to the acquisition of First Towers</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">6,441</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">212,265</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">20,298,721</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Issuance of special shares pursuant to a debt settlement</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-401">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">32,549</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">754,356</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; padding-bottom: 4pt">Balance, December 31, 2025</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">6,441</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">244,814</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">21,053,077</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table> 6441 212265 20298721 32549 754356 6441 244814 21053077 68941 14819 0.30 2677 577.97 900000 1547703 2677 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">A summary of the Company’s outstanding RSUs as at December 31, 2025 are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Number of RSUs</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance, December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-402">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="width: 88%">Granted</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">2,677</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Exercised</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,677</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; padding-bottom: 4pt">Balance, December 31, 2024 and 2025</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-403">—</div></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 2677 2677 798795 100000 647703 1205 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>18.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Related Party Transactions</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><i>Transactions with Key Management Personnel</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company has identified its Board of Directors, Executive Chairman, Chief Executive Officer (“CEO”), and Chief Financial Officer (“CFO”) as its key management personnel who have the authority and responsibility for planning, directing and controlling the Company’s main activities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">For the years ended December 31,</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Key Management Remuneration</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">679,005</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">365,994</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Former Management Fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-408">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">129,705</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Stock-based compensation</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-409">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-410">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">679,005</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">495,699</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Key Management remuneration is included in Consulting and Professional Fees and Personnel Expenses in the Statement of Operations.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">As of December 31, 2025, the Company has balances payable to related parties of $640,546 (2024 — $302,232) as below:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Included within accounts payable and accrued liabilities at December 31, 2025 is remuneration payable to key management totaling $640,546 (2024 — $244,933), which includes amounts owing to the following current and former directors and officers of the Company:</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">current directors and officers:</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 96px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">i.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$32,000 owing to J Dhaliwal (2024 — $8,000);</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 96px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ii.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$2,298 owing to G Deol (2024 — $2,192);</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 96px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">iii.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$8,000 owing to K Field (2024 — $72,000); </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 96px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">iv.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$259,435 owing to D Jenkins (2024 — $160,241);</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 96px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">v.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$192,175 owing to C Cooper (2024 — $2,500);</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 96px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">vi.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$69,333 owing to U Chaudhry (2024 — $<span style="-sec-ix-hidden: hidden-fact-411">nil</span>);</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 96px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">vii.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$17,555 owing to E Contreras (2024 — $<span style="-sec-ix-hidden: hidden-fact-412">nil</span>);</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">  </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 96px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">viii.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$18,382 owing to F Juarez (2024 — $<span style="-sec-ix-hidden: hidden-fact-413">nil</span>); and</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 96px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ix.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$41,368 owing to D Gordon (2024 — $<span style="-sec-ix-hidden: hidden-fact-414">nil</span>).</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">b.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The former director and officer of RPK, Kiranjit Sidhu is also the owner of Catalyst Capital LLC (“Catalyst”).</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -22.5pt"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">i.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 14, 2022, the Company received a loan of £25,000 ($30,224) from Catalyst. The loan is unsecured and bears interest of £200 per week. The loan has matured on January 31, 2023 and is due on demand. Any unpaid amount is charged with late fees of £200 for each week the payment is late. During the year ended December 31, 2024, the Company paid this loan in full as part of the debt settlement entered in April 2024. </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify">    </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ii.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 17, 2023, the Company received an additional loan of €45,000 ($48,666) from Catalyst. The loan is unsecured and bears interest of 0.75% per day, compounding daily. The loan has matured on February 1, 2023 and is due on demand. Any unpaid amount is charged with late fees of 1% compounding interest for each day the payment is late. During the year ended December 31, 2023, the lender has willingly forgone any interest arising from this loan. During the year ended December 31, 2024, the Company paid this loan in full as part of the debt settlement entered in April 2024.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">iii.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 5, 2023, the Company entered into another independent contractor agreement with Mr. Sidhu, pursuant to which, he agreed to provide services regarding the business operations, business development, legal and strategic matters to the Company for $650,000. The payment for the services was partially settled by the issuance of 28 RSUs converted to 28 Common Shares in May 2023 and 24 RSUs converted to 24 Common Shares in July 2023. As of December 31, 2023, the balance of the payable was $350,395, and was recorded under due to related parties’ account. During the year ended December 31, 2024, the Company paid this payable in full as part of the debt settlement entered in April 2024.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">iv.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 4, 2024, the Company entered into debt settlement agreement with Mr. Sidhu to settle up all amounts owing of $487,295, which includes outstanding loans and other consulting payables. Pursuant to the agreement, Mr. Sidhu agreed to accept $136,757 in full settlement of the outstanding debt. On April 10, 2024, the Company paid the agreed amounts and recognized a gain on debt settlement of $353,159 in the consolidated statements of loss and comprehensive loss.</span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">c.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has the following loans outstanding to 1248787 B.C. Ltd. (“1248787”), a company controlled by Jatinder Dhaliwal, a director of the Akanda:</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">i.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On August 18, 2023, the Company received a loan of C$24,000 ($17,714) from 1248787. The loan is unsecured, bears interest of 18% per annum and payable within 12 months. During the year ended December 31, 2025, the Company recorded interest expense of $1,076 (2024 — $3,157) and paid the loan in full.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ii.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 27, 2023, the Company received a loan of C$3,000 ($2,219) from 1248787. The loan is unsecured, bears interest of 18% per annum and payable within 12 months. During the year ended December 31, 2025, the Company recorded interest expense of $134 (2024 — $395) and paid the loan in full.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">iii.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 13, 2023, the Company received a loan of C$40,000 ($29,258) from 1248787. The loan is unsecured, bears interest of 18% per annum and payable within 12 months. During the year ended December 31, 2025, the Company recorded interest expense of $1,793 (2024 — $5,259) and paid the loan in full.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">d.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has the following loans transactions with Halo, a company controlled by Katharyn Field, the executive director and interim CEO of Akanda:</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"> </td> <td><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Unsecured debenture</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended December 31, 2024, the Company received additional loans from Halo in the aggregate principal amount of $44,954 (2023 — $1,192,953). The loans are unsecured and bears interest rate of 7% per annum and have no specific terms of repayment. The Company recorded interest expense of $39,170 from these loans and also made a full repayment during the year ended December 31, 2024.</p></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">e.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 24, 2024, Mr. Harvinder Singh resigned as an independent director of the Board of Directors of the Company. A Resignation and Mutual Release Agreement dated April 24, 2024 was entered between the Company and Mr. Singh, pursuant to which the Company agreed to pay Harvinder Singh a separation and release amount of $50,000. The Company has paid the amount in full on April 25, 2024. During the year ended December 31, 2024, the Company recognized a gain on debt settlement of $48,592 in the consolidated statements of loss and comprehensive loss.</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">As of December 31, 2025, the Company has balances receivable from related parties of $<span style="-sec-ix-hidden: hidden-fact-415">nil</span> (2024 — $368,172) as below:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Advances </i>— <i>Halo</i></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"> </td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2024, the Company paid and accrued an amount of $15,969 (CAD21,875) of fees for services rendered by certain legal firms to Halo, a company controlled by the interim CEO of the Company. The transactions were accounted by the Company as advances or loans to Halo. The loans are non-interest bearing, unsecured and has no specific terms of repayment.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">  </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"> </td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2025, the Company paid an additional amount of $220,030 (CAD307,437) of fees for services rendered by certain legal firms to Halo. These amounts, accounted as loans, are non-interest bearing, unsecured and have no specific terms of repayment. During the year ended December 31, 2025, the Company determined that the full loan receivable balance are no longer collectible from Halo and recognized a write-off of $235,686.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">b.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has the following loan receivable from First Towers &amp; Fiber Corp. (“First Towers”), a company controlled by Christopher Cooper, a director of Akanda:</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"> </td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 21, 2024, the Company entered into a Bridge Loan Agreement with First Towers &amp; Fiber Corp., a corporation incorporated under the laws of the Province of British Columbia (“First Towers”), pursuant to which the Company agreed to loan to First Towers $350,000 (the “Loan”). Interest of the prime rate (as defined in the Loan Agreement) plus 2% will accrue and be calculated daily on the principal amount of the Loan on the basis of the actual number of days the Loan is outstanding in a year of 365 or 366 days, as applicable, and will be compounded and payable monthly in arrears on the first business day of each month.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"> </td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the Bridge Loan Agreement, the Company shall also advance to First Towers a $1,000,000 loan on the same terms as the existing Loan Agreement. As of December 31, 2025, the Company lent out a total of $423,000. As at December 31, 2025, the loan receivable balance including interest was terminated in consolidation as of the closing of the First Towers Transaction on August 19, 2025.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Company’s related party transactions are measured at the exchange amount which is the amount of consideration established and agreed to by the related parties.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company has identified its Board of Directors, Executive Chairman, Chief Executive Officer (“CEO”), and Chief Financial Officer (“CFO”) as its key management personnel who have the authority and responsibility for planning, directing and controlling the Company’s main activities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">For the years ended December 31,</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Key Management Remuneration</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">679,005</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">365,994</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Former Management Fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-408">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">129,705</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Stock-based compensation</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-409">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-410">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">679,005</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">495,699</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 679005 365994 129705 679005 495699 640546 302232 640546 244933 32000 8000 2298 2192 8000 72000 259435 160241 192175 2500 69333 17555 18382 41368 25000 30224 200 2023-01-31 200 45000 48666 0.0075 2023-02-01 0.01 650000 28 28 24 24 350395 487295 136757 353159 24000 -17714 0.18 P12M 1076 3157 3000 -2219 0.18 P12M 134 395 40000 -29258 0.18 P12M 1793 5259 44954 1192953 0.07 39170 50000 48592 368172 15969 21875 220030 307437 235686 350000 0.02 1000000 423000 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>19.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Income Taxes</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The components of income tax expense (benefit) are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><b> </b></p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom; "> <td style="border-bottom: Black 1.5pt solid; width: 76%; font-weight: bold; padding-bottom: 1.5pt">Years ended December 31,</td><td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 9%; font-weight: bold; text-align: center">2025</td><td style="width: 1%; padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 9%; font-weight: bold; text-align: center">2024</td><td style="width: 1%; padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Current:</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-416">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-417">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Kingdom of Lesotho</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-418">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-419">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Republic of Malta</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-420">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-421">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">United Kingdom</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-422">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-423">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Mexico</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-424">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-425">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-426">—</div></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-427">—</div></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">A reconciliation of the expected income tax recovery to the actual income tax recovery is as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Deferred tax assets and liabilities have not been recognized for the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Years ended December 31,</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Net loss before income taxes:</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(46,859,311</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(4,096,029</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Statutory income tax rate</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">26.50</td><td style="padding-bottom: 1.5pt; text-align: left">%</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">26.50</td><td style="padding-bottom: 1.5pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Income tax benefit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(12,417,717</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,085,448</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Non-deductible items</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,052,596</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">37,379</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Non-taxable items</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(537,615</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(371,570</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Foreign rate differential</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(273,547</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,859</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Unrecognized loss carryforwards</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,176,283</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,409,780</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-428">—</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-429">—</div></td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company has reconciled to the average statutory tax rate of the Republic of Malta (35%), the United Kingdom (25%), the Republic of Portugal (21%), and the Mexico (30%).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><i>Deferred tax assets</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom; "> <td style="border-bottom: Black 1.5pt solid; width: 76%; font-weight: bold">At December 31,</td><td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; width: 1%; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 9%; font-weight: bold; text-align: center">2025</td><td style="width: 1%; padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; width: 1%; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 9%; font-weight: bold; text-align: center">2024</td><td style="width: 1%; padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net operating loss before carryforwards</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-430">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-431">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 4pt">Unrecognized loss carryforwards</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-432">—</div></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-433">—</div></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Deferred tax assets have not been recognized in respect of unutilized tax losses carried forward because it is not probable that future taxable profit will be available against which the Company can use the benefits therefrom.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The components of income tax expense (benefit) are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><b> </b></p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom; "> <td style="border-bottom: Black 1.5pt solid; width: 76%; font-weight: bold; padding-bottom: 1.5pt">Years ended December 31,</td><td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 9%; font-weight: bold; text-align: center">2025</td><td style="width: 1%; padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 9%; font-weight: bold; text-align: center">2024</td><td style="width: 1%; padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Current:</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-416">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-417">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Kingdom of Lesotho</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-418">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-419">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Republic of Malta</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-420">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-421">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">United Kingdom</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-422">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-423">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Mexico</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-424">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-425">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-426">—</div></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-427">—</div></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Deferred tax assets and liabilities have not been recognized for the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Years ended December 31,</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Net loss before income taxes:</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(46,859,311</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(4,096,029</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Statutory income tax rate</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">26.50</td><td style="padding-bottom: 1.5pt; text-align: left">%</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">26.50</td><td style="padding-bottom: 1.5pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Income tax benefit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(12,417,717</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,085,448</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Non-deductible items</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,052,596</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">37,379</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Non-taxable items</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(537,615</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(371,570</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Foreign rate differential</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(273,547</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,859</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Unrecognized loss carryforwards</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,176,283</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,409,780</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-428">—</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-429">—</div></td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> -46859311 -4096029 0.265 0.265 -12417717 -1085448 12052596 37379 -537615 -371570 -273547 9859 1176283 1409780 0.35 0.25 0.21 0.30 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><i>Deferred tax assets</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom; "> <td style="border-bottom: Black 1.5pt solid; width: 76%; font-weight: bold">At December 31,</td><td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; width: 1%; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 9%; font-weight: bold; text-align: center">2025</td><td style="width: 1%; padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; width: 1%; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 9%; font-weight: bold; text-align: center">2024</td><td style="width: 1%; padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net operating loss before carryforwards</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-430">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-431">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 4pt">Unrecognized loss carryforwards</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-432">—</div></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-433">—</div></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>20.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Non-controlling Interest</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">As at December 31, 2025, the carrying value of non-controlling interest (“NCI”) was $1,205,363 which was determined as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold"></td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">CTFO Mexico</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">CT Mexico</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance, December 31, 2024</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-434">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-435">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-436">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="width: 64%; text-align: left; padding-bottom: 1.5pt">Net loss allocated to NCI</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">94,145</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">1,111,218</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">1,205,363</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt">Balance, December 31, 2025</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">94,145</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,111,218</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,205,363</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">As at December 31, 2025, the carrying value of non-controlling interest (“NCI”) was $1,205,363 which was determined as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold"></td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">CTFO Mexico</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">CT Mexico</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance, December 31, 2024</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-434">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-435">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-436">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="width: 64%; text-align: left; padding-bottom: 1.5pt">Net loss allocated to NCI</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">94,145</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">1,111,218</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">1,205,363</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt">Balance, December 31, 2025</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">94,145</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,111,218</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,205,363</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table> -1205363 94145 1111218 1205363 -94145 -1111218 -1205363 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>21.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Financial Instruments</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="text-decoration:underline">Determination of Fair Values</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">IFRS 13, <i>Fair Value Measurement</i>, establishes a fair value hierarchy that reflects the significance of the inputs used in measuring fair value. The fair value hierarchy has the following levels:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Level 1 — Quoted prices in active markets for identical assets or liabilities;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Level 2 — Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Level 3 — Unobservable inputs in which little or no market activity exists, therefore requiring an entity to develop its own assumptions about the assumptions market participants would use in pricing.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">A number of the Company’s accounting policies and disclosures require the determination of fair value, for both financial and non-financial assets and liabilities. Fair values have been determined for measurement and/or disclosure purposes based on the following models. When applicable, further information about the assumptions made in determining fair values is disclosed in the notes specific to that asset or liability.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The following is a comparison by class of the carrying amounts and fair value of the Company’s financial instruments as at December 31, 2025 and 2024:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Financial assets</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Carrying<br/> amount</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Fair value</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Carrying<br/> amount</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Fair value</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td>Financial assets measured at amortised cost:</td><td> </td> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left; padding-left: 9pt">Cash and cash held in trust</td><td style="width: 1%"> </td> <td style="width: 11%; text-align: center">1</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">504,136</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">504,136</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,841,866</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,841,866</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 9pt">Trade and other receivables</td><td> </td> <td style="text-align: center">2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,399,977</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,399,977</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">370,537</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">370,537</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 9pt">Loan receivable</td><td> </td> <td style="text-align: center">2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-437">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-438">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">955,022</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">955,022</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Financial liabilities</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Financial liabilities measure at amortised cost:</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 9pt">Trade and other payables</td><td> </td> <td style="text-align: center">2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,309,037</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,309,037</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,982,499</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,982,499</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 9pt">Loans and borrowings</td><td> </td> <td style="text-align: center">2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,006,920</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,006,920</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">352,814</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">352,814</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 9pt">Secured promissory notes</td><td> </td> <td style="text-align: center">2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,633,966</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,633,966</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-439">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-440">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 9pt">Lease liabilities</td><td> </td> <td style="text-align: center">2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">396,121</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">396,121</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-441">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-442">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 9pt">Due to related parties</td><td> </td> <td style="text-align: center">2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">640,546</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">640,546</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">302,232</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">302,232</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 9pt"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0in">Financial liabilities measure at FVTPL:</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 9pt">Convertible promissory notes</td><td> </td> <td style="text-align: center">2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,055,420</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,055,420</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-443">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-444">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 9pt">Secured convertible debenture</td><td> </td> <td style="text-align: center">2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,143,982</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,143,982</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-445">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-446">—</div></td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The following is a comparison by class of the carrying amounts and fair value of the Company’s financial instruments as at December 31, 2025 and 2024:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Financial assets</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Carrying<br/> amount</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Fair value</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Carrying<br/> amount</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Fair value</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td>Financial assets measured at amortised cost:</td><td> </td> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left; padding-left: 9pt">Cash and cash held in trust</td><td style="width: 1%"> </td> <td style="width: 11%; text-align: center">1</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">504,136</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">504,136</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,841,866</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,841,866</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 9pt">Trade and other receivables</td><td> </td> <td style="text-align: center">2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,399,977</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,399,977</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">370,537</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">370,537</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 9pt">Loan receivable</td><td> </td> <td style="text-align: center">2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-437">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-438">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">955,022</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">955,022</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Financial liabilities</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Financial liabilities measure at amortised cost:</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 9pt">Trade and other payables</td><td> </td> <td style="text-align: center">2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,309,037</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,309,037</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,982,499</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,982,499</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 9pt">Loans and borrowings</td><td> </td> <td style="text-align: center">2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,006,920</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,006,920</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">352,814</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">352,814</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 9pt">Secured promissory notes</td><td> </td> <td style="text-align: center">2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,633,966</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,633,966</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-439">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-440">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 9pt">Lease liabilities</td><td> </td> <td style="text-align: center">2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">396,121</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">396,121</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-441">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-442">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 9pt">Due to related parties</td><td> </td> <td style="text-align: center">2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">640,546</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">640,546</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">302,232</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">302,232</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 9pt"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0in">Financial liabilities measure at FVTPL:</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-left: 9pt">Convertible promissory notes</td><td> </td> <td style="text-align: center">2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,055,420</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,055,420</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-443">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-444">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 9pt">Secured convertible debenture</td><td> </td> <td style="text-align: center">2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,143,982</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,143,982</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-445">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-446">—</div></td><td style="text-align: left"> </td></tr> </table> 504136 504136 3841866 3841866 1399977 1399977 370537 370537 955022 955022 3309037 3309037 2982499 2982499 1006920 1006920 352814 352814 7633966 7633966 396121 396121 640546 640546 302232 302232 1055420 1055420 4143982 4143982 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>22.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Risks Arising from Financial Instruments and Risk Management</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company’s activities expose it to a variety of financial risks: market risk (including foreign exchange and interest rate risks), credit risk and liquidity risk. Risk management is the responsibility of the Company, which identifies, evaluates and, where appropriate, mitigates financial risks.</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(a)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Market risk</i></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Foreign exchange risk: is the risk that the fair value of future cash flows for financial instruments will fluctuate because of changes in foreign exchange rates. The Company has not entered into any foreign exchange hedging contracts. The Company is exposed to currency risk from the British Pound (“GBP”), Euro (“EUR”), Canadian dollar (“CAD”) and Mexican Peso (“MXN”) through the following foreign currency denominated financial assets and liabilities:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">  </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify; border-bottom: Black 1.5pt solid">As at (expressed in GBP)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, <br/> 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify">Financial assets</td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify; padding-left: 9pt">Cash</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">£</td><td style="width: 9%; text-align: right">100</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">£</td><td style="width: 9%; text-align: right">16,558</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-left: 9pt">Trade and other receivables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">354</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">293,055</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 9pt">Loan receivable</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-447">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">469,233</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left">£</td><td style="text-align: right">454</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">£</td><td style="text-align: right">778,846</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Financial liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 9pt">Trade and other payables</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">£</td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,126</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">£</td><td style="border-bottom: Black 1.5pt solid; text-align: right">820,809</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">£</td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,126</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">£</td><td style="border-bottom: Black 1.5pt solid; text-align: right">820,809</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify; border-bottom: Black 1.5pt solid">As at (expressed in EUR)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, <br/> 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify">Financial assets</td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify; padding-left: 9pt">Cash</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">€</td><td style="width: 9%; text-align: right">11,304</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">€</td><td style="width: 9%; text-align: right">12,504</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 9pt">Trade and other receivables</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,076</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,076</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left">€</td><td style="text-align: right">14,380</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">€</td><td style="text-align: right">15,580</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Financial liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 9pt">Trade and other payables</td><td> </td> <td style="text-align: left">€</td><td style="text-align: right">5,263</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">€</td><td style="text-align: right">838</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 9pt">Loans and borrowings</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">124,890</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">124,890</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">€</td><td style="border-bottom: Black 1.5pt solid; text-align: right">130,153</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">€</td><td style="border-bottom: Black 1.5pt solid; text-align: right">125,728</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify; border-bottom: Black 1.5pt solid">As at (expressed in CAD)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, <br/> 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify">Financial assets</td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify; padding-left: 9pt">Cash and cash held in trust</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">287,503</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">5,473,500</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 9pt">Loans receivable</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-448">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">515,197</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">287,503</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,988,697</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Financial liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 9pt">Trade and other payables</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">4,137,013</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,809,356</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-left: 9pt">Due to related party</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">882,165</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">425,962</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 9pt">Lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">191,706</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-449">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-left: 9pt">Loans and borrowings</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,177,564</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">315,557</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 9pt">Convertible promissory notes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,446,893</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-450">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-left: 9pt">Secured promissory notes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,465,530</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-451">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 9pt">Secured convertible debenture</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,681,053</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-452">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">23,981,924</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,550,875</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify; border-bottom: Black 1.5pt solid">As at (expressed in MXN)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, <br/> 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, <br/> 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify">Financial assets</td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify; padding-left: 9pt">Cash</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">5,028,415</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-453">         —</div></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-left: 9pt">Trade and other receivables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">24,199,567</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-454">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 9pt">Due from related parties</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">68,814</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-455">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">29,296,796</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-456">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Financial liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-left: 9pt">Trade and other payables</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,425,846</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-457">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 9pt">Lease liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,609,418</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-458">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">10,035,264</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-459">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Based on the above net exposures as at December 31, 2025, assuming that all other variables remain constant, a 5% appreciation or deterioration of the USD against the GBP would result in a corresponding increase or decrease, respectively on the Company’s net income of approximately $<span style="-sec-ix-hidden: hidden-fact-460">nil</span> (2024 — $2,000), EUR — $5,000  (2024 — $5,000), CAD — $864,000  (2024 — $85,000) and MXN — $54,000 (2024 — $<span style="-sec-ix-hidden: hidden-fact-461">nil</span>).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(b)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Credit risk</i></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Credit risk is the risk of financial loss to the Company if a partner or counterparty to a financial instrument fails to meet its contractual obligation and arises principally from the Company’s cash and accounts receivable. The carrying amounts of the financial assets represents the maximum credit exposure. The Company limits its exposure to credit risk on cash by placing these financial instruments with high-credit quality financial institutions.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">At December 31, 2025, the Company was subject to a concentration of credit risk related to its accounts receivable as 100% (2024 — 74% from two customers) of the balance of amounts owing is from three customers. The Company did not record any bad debt expense during the years ended December 31, 2025 and 2024. As at December 31, 2025, the expected credit lifetime credit losses for accounts receivable aged as current were nominal amounts. The Company considers a financial asset in default when internal or external information indicates that the Company is unlikely to receive the outstanding contractual amounts in full. A financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(c)</i></b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Liquidity risk</i></b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they come due. The Company manages its liquidity risk by continuously monitoring forecasted and actual cash flows, as well as anticipated investing and financing activities and to ensure that it will have sufficient liquidity to meet its liabilities and commitments when due and to fund future operations. The Company’s trade and other payables are due within the current operating year.</p> The Company is exposed to currency risk from the British Pound (“GBP”), Euro (“EUR”), Canadian dollar (“CAD”) and Mexican Peso (“MXN”) through the following foreign currency denominated financial assets and liabilities:<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify; border-bottom: Black 1.5pt solid">As at (expressed in GBP)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, <br/> 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify">Financial assets</td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify; padding-left: 9pt">Cash</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">£</td><td style="width: 9%; text-align: right">100</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">£</td><td style="width: 9%; text-align: right">16,558</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-left: 9pt">Trade and other receivables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">354</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">293,055</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 9pt">Loan receivable</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-447">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">469,233</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left">£</td><td style="text-align: right">454</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">£</td><td style="text-align: right">778,846</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Financial liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 9pt">Trade and other payables</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">£</td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,126</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">£</td><td style="border-bottom: Black 1.5pt solid; text-align: right">820,809</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">£</td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,126</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">£</td><td style="border-bottom: Black 1.5pt solid; text-align: right">820,809</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify; border-bottom: Black 1.5pt solid">As at (expressed in EUR)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, <br/> 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify">Financial assets</td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify; padding-left: 9pt">Cash</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">€</td><td style="width: 9%; text-align: right">11,304</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">€</td><td style="width: 9%; text-align: right">12,504</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 9pt">Trade and other receivables</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,076</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,076</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left">€</td><td style="text-align: right">14,380</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">€</td><td style="text-align: right">15,580</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Financial liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 9pt">Trade and other payables</td><td> </td> <td style="text-align: left">€</td><td style="text-align: right">5,263</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">€</td><td style="text-align: right">838</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 9pt">Loans and borrowings</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">124,890</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">124,890</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">€</td><td style="border-bottom: Black 1.5pt solid; text-align: right">130,153</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">€</td><td style="border-bottom: Black 1.5pt solid; text-align: right">125,728</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify; border-bottom: Black 1.5pt solid">As at (expressed in CAD)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, <br/> 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify">Financial assets</td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify; padding-left: 9pt">Cash and cash held in trust</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">287,503</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">5,473,500</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 9pt">Loans receivable</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-448">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">515,197</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">287,503</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,988,697</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Financial liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 9pt">Trade and other payables</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">4,137,013</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,809,356</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-left: 9pt">Due to related party</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">882,165</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">425,962</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 9pt">Lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">191,706</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-449">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-left: 9pt">Loans and borrowings</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,177,564</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">315,557</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 9pt">Convertible promissory notes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,446,893</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-450">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-left: 9pt">Secured promissory notes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,465,530</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-451">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 9pt">Secured convertible debenture</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,681,053</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-452">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">23,981,924</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,550,875</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify; border-bottom: Black 1.5pt solid">As at (expressed in MXN)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, <br/> 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, <br/> 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify">Financial assets</td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify; padding-left: 9pt">Cash</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">5,028,415</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-453">         —</div></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-left: 9pt">Trade and other receivables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">24,199,567</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-454">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 9pt">Due from related parties</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">68,814</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-455">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">29,296,796</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-456">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Financial liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-left: 9pt">Trade and other payables</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,425,846</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-457">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 9pt">Lease liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,609,418</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-458">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">10,035,264</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-459">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> 100 16558 354 293055 469233 454 778846 2126 820809 2126 820809 11304 12504 3076 3076 14380 15580 5263 838 124890 124890 130153 125728 287503 5473500 515197 287503 5988697 4137013 2809356 882165 425962 191706 1177564 315557 1446893 10465530 5681053 23981924 3550875 5028415 24199567 68814 29296796 5425846 4609418 10035264 0.05 2000 5000 5000 864000 85000 54000 1 0.74 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>23.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Capital Management</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company manages its capital structure and makes adjustments to it, based on the funds available to the Company, in order to continue the business of the Company. The Company, upon approval from its Board of Directors, will balance its overall capital structure through new share and warrant issuances, granting of stock options, the issuance of debt or by undertaking other activities as deemed appropriate under the specific circumstance. The Board of Directors does not establish a quantitative return on capital criteria for management, but rather relies on the expertise of the Company’s management to sustain future development of the business.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company’s objectives when managing capital are to safeguard the Company’s ability to continue as a going concern and to provide capital to pursue the development and commercialization of its products. In the management of capital, the Company includes cash, short-term debt and capital. The Company manages the capital structure and makes adjustments to it in light of changes in economic conditions and the risk characteristics of the underlying assets. To maintain or adjust the capital structure, the Company may attempt to issue new shares or new debt.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">At the current stage of the Company’s development, in order to maximize its current business activities, the Company does not pay out dividends. Management reviews its capital management approach on an ongoing basis and believes that this approach, given the relative size of the Company, is reasonable.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company’s overall strategy with respect to capital risk management remains unchanged for the years ended December 31, 2025 and 2024.</p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>24.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Segmented Information</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company has four reportable segments: Infrastructure, Cultivation, Distribution and Corporate. Infrastructure activities is a new segment of the Company pursuant to the acquisition of First Towers in August 2025 which relates to the leasing and/or rental of fiber optic networks and telecommunication towers at First Towers in Mexico. Cultivating activities which comprise the “cultivation” segment is made up of the medical cannabis cultivation operations at RPK/Holigen in Portugal up until the sale completion in March 2024 (refer to note 5). Distributing activities relate to the distribution of medical cannabis by Canmart in the United Kingdom up until the winding up in May 2025 (refer to note 6). Corporate activities entail head office costs and other general corporate expenses related to the administration of the broader group. The accounting policies of the operating segments are the same as those described in the summary of material accounting policies. The reportable segments have been determined by management on the basis that these are strategic business units that offer different products and services. The business units in Portugal (up until the sale of subsidiary described in note 5) which fall under the cultivation segment were focused on the cultivation of medical cannabis and medical cannabis biomass respectively, while the business unit in the United Kingdom (up until the winding up described in note 6), which falls under the distribution segment, undertakes the sale and distribution of medical cannabis products. The corporate segment undertakes management and treasury services within the group and for the benefit of all group companies. They are managed separately as each business unit requires different strategies, risk management and technologies.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Set out below is information about the assets and liabilities as at December 31, 2025 and 2024 and profit or loss from each segment for the years ended December 31, 2025 and 2024:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">As at December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Financial statement line item:</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Infrastructure</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Cultivation</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Distribution</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Corporate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Reportable segment assets</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,831,917</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">335,689</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-462">         —</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,027,949</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">6,195,555</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Reportable segment liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,111,874</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">150,358</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-463">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,923,760</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,185,992</td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">As at December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Financial statement line item:</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Infrastructure</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Cultivation</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Distribution</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Corporate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Reportable segment assets</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-464">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,232,785</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,052,080</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">4,629,218</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">7,914,083</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Reportable segment liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-465">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">133,163</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,026,211</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,478,171</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,637,545</td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">For the year ended December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Financial statement line item:</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Infrastructure</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Cultivation</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Distribution</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Corporate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Revenues from external customers</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">258,075</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-466">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-467">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-468">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">258,075</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Intersegment revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-469">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-470">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-471">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-472">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-473">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other income (expense)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(42,501,110</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,158,885</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-474">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,201,579</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(41,458,416</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Finance income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(92,457</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-475">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-476">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">92,457</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-477">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Finance expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(28,742</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-478">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-479">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(896,350</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(925,092</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Depreciation &amp; amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">264,532</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-480">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-481">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">169,161</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">433,693</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Discontinued operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-482">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-483">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,911,606</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,404,002</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">507,604</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Reportable segment loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(43,269,642</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,170,333</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-484">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,419,336</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(46,859,311</td><td style="text-align: left">)</td></tr> </table><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="18" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the year ended December 31, 2024</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold">Financial statement line item:</td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid; font-weight: bold">Infrastructure</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Cultivation</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Distribution</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Corporate</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Revenues from external customers</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-485">              —</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-486">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-487">      —</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-488">  —</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-489">     —</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Intersegment revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-490">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-491">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-492">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-493">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-494">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Other income (expense)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-495">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">(879,154</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-496">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,675,644</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">796,490</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Finance income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-497">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-498">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-499">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,953</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,953</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Finance expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-500">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-501">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-502">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(81,083</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(81,083</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Depreciation &amp; amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-503">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-504">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-505">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">137,271</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">137,271</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Discontinued operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-506">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(827,620</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">43,414</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-507">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(784,206</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Reportable segment income (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-508">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(206,397</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">43,414</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,933,046</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,096,029</td><td style="text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Set out below are reconciliations of each reportable segment’s revenues, profit or loss for the years ended December 31, 2025 and 2024, and assets and liabilities as at December 31, 2025 and 2024:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="18" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the year ended December 31, 2025</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold">Revenues</td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Infrastructure</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Cultivation</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Distribution</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Corporate</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Total revenues</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">258,075</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-509">           —</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-510">          —</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-511">           —</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">258,075</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Elimination of inter segment revenue</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-512">—</div></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-513">—</div></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-514">—</div></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-515">—</div></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-516">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total revenue</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">258,075</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-517">—</div></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-518">—</div></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-519">—</div></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">258,075</td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="18" style="text-align: center; font-weight: bold; border-bottom: Black 1.5pt solid">For the year ended December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold">Revenues</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Infrastructure</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Cultivation</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Distribution</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Corporate</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Total</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total revenues</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">               <span style="-sec-ix-hidden: hidden-fact-520; font-family: Times New Roman, Times, Serif">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">           <span style="-sec-ix-hidden: hidden-fact-521; font-family: Times New Roman, Times, Serif">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">             <span style="-sec-ix-hidden: hidden-fact-522; font-family: Times New Roman, Times, Serif">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">          <span style="-sec-ix-hidden: hidden-fact-523; font-family: Times New Roman, Times, Serif">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">       <span style="-sec-ix-hidden: hidden-fact-524; font-family: Times New Roman, Times, Serif">—</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Elimination of inter segment revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-525; font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-526; font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-527; font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-528; font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-529; font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; width: 40%; text-align: left">Total revenue</td><td style="padding-bottom: 1.5pt; width: 1%"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-530">  —</div></td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1.5pt; width: 1%"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-531">—</div></td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1.5pt; width: 1%"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-532">—</div></td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1.5pt; width: 1%"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-533">—</div></td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1.5pt; width: 1%"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-534">—</div></td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">For the year ended December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Loss</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Infrastructure</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Cultivation</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Distribution</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Corporate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Total loss for reportable segments</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(43,269,642</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(2,170,333</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(10,911,606</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">8,984,666</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(47,366,915</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Total loss on discontinued operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-535">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-536">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,911,606</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,404,002</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">507,604</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Elimination of inter segment profit or loss</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-537">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-538">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-539">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-540">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-541">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Loss before income tax expense</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(43,269,642</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,170,333</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-542">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,419,336</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(46,859,311</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="18" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the year ended December 31, 2024</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold">Loss</td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid; font-weight: bold">Infrastructure</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Cultivation</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Distribution</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Corporate</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Total loss for reportable segments</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-543">            —</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">621,223</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-544">    —</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(3,933,046</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(3,311,823</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Total loss on discontinued operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-545">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(827,620</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">43,414</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-546">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(784,206</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Elimination of inter segment profit or loss</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-547">—</div></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-548">—</div></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-549">—</div></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-550">—</div></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-551">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Loss before income tax expense</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-552">—</div></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(206,397</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">43,414</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,933,046</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(4,096,029</td><td style="text-align: left">)</td></tr> </table><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">As at December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Assets</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Infrastructure</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Cultivation</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Distribution</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Corporate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Total assets for reportable segments</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,831,917</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">335,689</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-553">             —</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">100,152,700</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">104,320,306</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Elimination of inter segment assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-554">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-555">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-556">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(98,124,751</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(98,124,751</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Segments’ assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,831,917</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">335,689</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-557">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,027,949</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">6,195,555</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">As at December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Assets</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Infrastructure</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Cultivation</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Distribution</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Corporate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Total assets for reportable segments</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-558">           —</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,232,785</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,052,080</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">50,488,643</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">53,773,508</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Elimination of inter segment assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-559">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-560">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-561">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(45,859,425</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(45,859,425</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Segments’ assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-562">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,232,785</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,052,080</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,629,218</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,914,083</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">As at December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Liabilities</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Infrastructure</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Cultivation</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Distribution</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Corporate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Total liabilities for reportable segments</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">12,841,578</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,072,219</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-563">           —</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">38,754,893</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">52,668,690</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Elimination of inter segment liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(10,729,704</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(921,860</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-564">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(22,831,134</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(34,482,698</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Entity’s liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,111,874</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">150,359</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-565">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">15,923,759</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">18,185,992</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="18" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As at December 31, 2024</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold">Liabilities</td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid; font-weight: bold">Infrastructure</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Cultivation</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Distribution</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Corporate</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Total liabilities for reportable segments</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-566">               —</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">883,397</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">11,169,051</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">25,958,535</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">38,010,983</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Elimination of inter segment liabilities</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-567">—</div></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(750,234</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(10,142,840</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(23,480,364</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(34,373,438</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Entity’s liabilities</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-568">—</div></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">133,163</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,026,211</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,478,171</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,637,545</td><td style="text-align: left"> </td></tr> </table> 4 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Set out below is information about the assets and liabilities as at December 31, 2025 and 2024 and profit or loss from each segment for the years ended December 31, 2025 and 2024:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">As at December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Financial statement line item:</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Infrastructure</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Cultivation</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Distribution</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Corporate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Reportable segment assets</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,831,917</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">335,689</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-462">         —</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,027,949</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">6,195,555</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Reportable segment liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,111,874</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">150,358</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-463">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,923,760</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,185,992</td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="text-align: right"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">As at December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Financial statement line item:</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Infrastructure</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Cultivation</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Distribution</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Corporate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Reportable segment assets</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-464">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,232,785</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,052,080</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">4,629,218</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">7,914,083</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Reportable segment liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-465">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">133,163</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,026,211</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,478,171</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,637,545</td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">For the year ended December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Financial statement line item:</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Infrastructure</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Cultivation</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Distribution</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Corporate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Revenues from external customers</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">258,075</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-466">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-467">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-468">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">258,075</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Intersegment revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-469">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-470">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-471">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-472">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-473">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other income (expense)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(42,501,110</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,158,885</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-474">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,201,579</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(41,458,416</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Finance income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(92,457</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-475">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-476">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">92,457</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-477">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Finance expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(28,742</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-478">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-479">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(896,350</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(925,092</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Depreciation &amp; amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">264,532</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-480">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-481">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">169,161</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">433,693</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Discontinued operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-482">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-483">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,911,606</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,404,002</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">507,604</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Reportable segment loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(43,269,642</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,170,333</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-484">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,419,336</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(46,859,311</td><td style="text-align: left">)</td></tr> </table><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="18" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the year ended December 31, 2024</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold">Financial statement line item:</td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid; font-weight: bold">Infrastructure</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Cultivation</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Distribution</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Corporate</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Revenues from external customers</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-485">              —</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-486">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-487">      —</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-488">  —</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-489">     —</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Intersegment revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-490">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-491">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-492">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-493">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-494">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Other income (expense)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-495">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">(879,154</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-496">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,675,644</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">796,490</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Finance income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-497">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-498">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-499">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,953</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,953</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Finance expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-500">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-501">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-502">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(81,083</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(81,083</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Depreciation &amp; amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-503">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-504">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-505">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">137,271</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">137,271</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Discontinued operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-506">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(827,620</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">43,414</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-507">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(784,206</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Reportable segment income (loss)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-508">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(206,397</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">43,414</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,933,046</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,096,029</td><td style="text-align: left">)</td></tr> </table> 3831917 335689 2027949 6195555 2111874 150358 15923760 18185992 2232785 1052080 4629218 7914083 133163 1026211 2478171 3637545 258075 258075 -42501110 -2158885 3201579 41458416 -92457 92457 -28742 -896350 -925092 264532 169161 433693 10911606 -10404002 507604 -43269642 -2170333 -1419336 -46859311 -879154 1675644 796490 2953 2953 -81083 -81083 137271 137271 -827620 43414 -784206 -206397 43414 -3933046 -4096029 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Set out below are reconciliations of each reportable segment’s revenues, profit or loss for the years ended December 31, 2025 and 2024, and assets and liabilities as at December 31, 2025 and 2024:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="18" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the year ended December 31, 2025</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold">Revenues</td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Infrastructure</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Cultivation</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Distribution</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Corporate</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Total revenues</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">258,075</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-509">           —</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-510">          —</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-511">           —</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">258,075</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Elimination of inter segment revenue</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-512">—</div></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-513">—</div></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-514">—</div></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-515">—</div></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-516">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total revenue</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">258,075</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-517">—</div></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-518">—</div></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-519">—</div></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">258,075</td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="18" style="text-align: center; font-weight: bold; border-bottom: Black 1.5pt solid">For the year ended December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold">Revenues</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Infrastructure</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Cultivation</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Distribution</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Corporate</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Total</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total revenues</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">               <span style="-sec-ix-hidden: hidden-fact-520; font-family: Times New Roman, Times, Serif">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">           <span style="-sec-ix-hidden: hidden-fact-521; font-family: Times New Roman, Times, Serif">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">             <span style="-sec-ix-hidden: hidden-fact-522; font-family: Times New Roman, Times, Serif">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">          <span style="-sec-ix-hidden: hidden-fact-523; font-family: Times New Roman, Times, Serif">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">       <span style="-sec-ix-hidden: hidden-fact-524; font-family: Times New Roman, Times, Serif">—</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Elimination of inter segment revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-525; font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-526; font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-527; font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-528; font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: hidden-fact-529; font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt; width: 40%; text-align: left">Total revenue</td><td style="padding-bottom: 1.5pt; width: 1%"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-530">  —</div></td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1.5pt; width: 1%"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-531">—</div></td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1.5pt; width: 1%"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-532">—</div></td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1.5pt; width: 1%"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-533">—</div></td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1.5pt; width: 1%"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-534">—</div></td><td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">For the year ended December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Loss</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Infrastructure</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Cultivation</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Distribution</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Corporate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Total loss for reportable segments</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(43,269,642</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(2,170,333</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(10,911,606</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">8,984,666</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(47,366,915</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Total loss on discontinued operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-535">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-536">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,911,606</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,404,002</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">507,604</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Elimination of inter segment profit or loss</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-537">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-538">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-539">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-540">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-541">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Loss before income tax expense</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(43,269,642</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,170,333</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-542">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,419,336</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(46,859,311</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="18" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the year ended December 31, 2024</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold">Loss</td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid; font-weight: bold">Infrastructure</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Cultivation</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Distribution</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Corporate</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Total loss for reportable segments</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-543">            —</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">621,223</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-544">    —</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(3,933,046</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(3,311,823</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Total loss on discontinued operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-545">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(827,620</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">43,414</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-546">—</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(784,206</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Elimination of inter segment profit or loss</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-547">—</div></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-548">—</div></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-549">—</div></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-550">—</div></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-551">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Loss before income tax expense</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-552">—</div></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(206,397</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">43,414</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,933,046</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(4,096,029</td><td style="text-align: left">)</td></tr> </table><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">As at December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Assets</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Infrastructure</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Cultivation</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Distribution</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Corporate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Total assets for reportable segments</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,831,917</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">335,689</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-553">             —</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">100,152,700</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">104,320,306</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Elimination of inter segment assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-554">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-555">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-556">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(98,124,751</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(98,124,751</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Segments’ assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,831,917</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">335,689</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-557">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,027,949</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">6,195,555</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">As at December 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Assets</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Infrastructure</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Cultivation</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Distribution</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Corporate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Total assets for reportable segments</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-558">           —</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,232,785</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,052,080</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">50,488,643</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">53,773,508</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Elimination of inter segment assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-559">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-560">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-561">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(45,859,425</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(45,859,425</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Segments’ assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-562">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,232,785</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,052,080</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,629,218</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,914,083</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">As at December 31, 2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1.5pt solid">Liabilities</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Infrastructure</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Cultivation</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Distribution</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Corporate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Total liabilities for reportable segments</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">12,841,578</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,072,219</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-563">           —</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">38,754,893</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">52,668,690</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Elimination of inter segment liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(10,729,704</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(921,860</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-564">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(22,831,134</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(34,482,698</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Entity’s liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,111,874</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">150,359</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-565">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">15,923,759</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">18,185,992</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="18" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As at December 31, 2024</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold">Liabilities</td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid; font-weight: bold">Infrastructure</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Cultivation</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Distribution</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Corporate</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Total liabilities for reportable segments</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-566">               —</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">883,397</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">11,169,051</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">25,958,535</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">38,010,983</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Elimination of inter segment liabilities</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-567">—</div></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(750,234</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(10,142,840</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(23,480,364</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(34,373,438</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Entity’s liabilities</td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-568">—</div></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">133,163</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,026,211</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,478,171</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,637,545</td><td style="text-align: left"> </td></tr> </table> 258075 258075 258075 258075 -43269642 -2170333 -10911606 8984666 -47366915 10911606 -10404002 507604 -43269642 -2170333 -1419336 -46859311 621223 -3933046 -3311823 -827620 43414 -784206 -206397 43414 -3933046 -4096029 3831917 335689 100152700 104320306 -98124751 -98124751 3831917 335689 2027949 6195555 2232785 1052080 50488643 53773508 -45859425 -45859425 2232785 1052080 4629218 7914083 12841578 1072219 38754893 52668690 -10729704 -921860 -22831134 -34482698 2111874 150359 15923759 18185992 883397 11169051 25958535 38010983 -750234 -10142840 -23480364 -34373438 133163 1026211 2478171 3637545 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>25.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Revenue and Geographic Information</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company, through its subsidiary – First Towers, generates revenue from the leasing of telecommunications infrastructure, including tower sites and dark fiber routes. As of December 31, 2025, the Company’s revenue is earned entirely in Mexico, where all of its telecommunications infrastructure assets are located.</p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>26.</b></span></td> <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>General and Administrative Expenses</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The following provides a breakdown of general and administrative expenses by nature for the years ended December 31, 2025 and 2024:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify; padding-left: 9pt">Advertising and promotion</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,135,054</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">724,785</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-left: 9pt">Insurance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">910</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-569">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 9pt">Office and administrative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20,880</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,297</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-left: 9pt">Rent</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,831</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,926</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 9pt">Transfer agent and filing fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">128,619</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">139,221</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 9pt">Travel expenses</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">11,901</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">142,058</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 1.5pt">Total general and administrative expenses</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">2,305,195</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">1,019,287</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The following provides a breakdown of general and administrative expenses by nature for the years ended December 31, 2025 and 2024:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2025</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify; padding-left: 9pt">Advertising and promotion</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,135,054</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">724,785</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-left: 9pt">Insurance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">910</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-569">—</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 9pt">Office and administrative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20,880</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,297</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-left: 9pt">Rent</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,831</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,926</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 9pt">Transfer agent and filing fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">128,619</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">139,221</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 9pt">Travel expenses</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">11,901</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">142,058</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 1.5pt">Total general and administrative expenses</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">2,305,195</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">1,019,287</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 2135054 724785 910 20880 6297 7831 6926 128619 139221 11901 142058 2305195 1019287 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>27.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Insolvency Proceedings</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In July 2022, the Company announced that the High Court of Lesotho (the “Lesotho Court”) has placed in liquidation the Company’s, wholly-owned subsidiary, Bophelo Bio Science and Wellness (Pty) Ltd. (“Bophelo”). The action to place Bophelo in liquidation was taken by the Lesotho Court pursuant to an application and request (the “Liquidation Application”) that was filed by Louisa Mojela, the former Executive Chairman of the Company, who was terminated as Executive Chairman of Akanda, and the Mophuti Matsoso Development Trust (“MMD Trust”). Akanda had intended to convene a special committee to investigate Ms. Mojela’s actions and conduct, including actions and conduct taken by her prior to her filing of the Liquidation Application, and further intended to pursue all of its available legal rights and remedies against Ms. Mojela and the MMD Trust for taking this unauthorized action. The Company also intended to contest and seek to reverse the determination by the Lesotho Court to place Bophelo in liquidation and seek to recover significant loans that it has made to Bophelo to fund the execution of Bophelo’s business plan; however, due to lack of funds and resources, the Company is not at this time actively contesting the matter and cannot give no assurance that it will do so in the future. Finally, Ms. Mojela has been summarily terminated as Chairman of Bophelo for Cause, as a “bad leaver”, as a result of her action to seek to place Bophelo in liquidation. Ms. Mojela has instituted legal proceedings against the Company as a result of the termination of her employment. In an action taken without the Company’s knowledge, the Lesotho Court has ordered an insolvent liquidation of Bophelo, and has appointed Mr. Chavonnes Cooper of Cape Town, South Africa, as liquidator of Bophelo for purposes of maintaining the value of the assets owned or managed by Bophelo. The order was signed by the Honorable Mr. Justice Mokhesi on July 15, 2022.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">At the date of these consolidated financial statements, the liquidation of Bophelo Bio Science and Wellness (Pty) Ltd. is still ongoing.</p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>28.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Contingencies</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">On October 20, 2022, Louisa Mojela filed a claim against Canmart and the Company for wrongful termination of her Service Agreement. The claimant sought £1,832,150.62 plus further administrative and legal fees. The Company denied her claim and lodged a counterclaim lodged for losses caused by the Claimant including a loan of US $6,849,935.69 (The loan we cited in the proceedings was $3m USD) Akanda advanced to Bophelo. On 31 January 2023, Mojela applied for summary judgment in respect of some but not all of these amounts. On October 30, 2023, Mojela’s entire application for summary judgment failed. On January 15, 2024, a Consequentials hearing was held at which the High Court subsequently awarded Akanda and Canmart £60,000 for legal costs. On 5 February 2024, Mojela sought permission to appeal of the summary judgment decision but her application for permission to appeal was refused on 11 April 2024. On 17 April, 2024, Mojela applied for a hearing to renew her application to appeal. In the meanwhile, proceedings are stayed as parties await the results of this hearing.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">On December 2, 2024, the Company entered into a settlement agreement to settle this dispute for a sum of £100,000 ($129,705) and accounted the full amount as former management fees. During the year ended December 31, 2024, the Company paid the amount in full and recognized a gain on debt settlement of $9,670 in the consolidated statements of loss and comprehensive loss.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">On April 29, 2023, Trevor Scott, former CFO of the Company, issued a claim against the Company for amounts owing under his employment agreement totaling £420,659.95. Claim has been denied in its entirety and a counter-claim lodged for losses caused by the Claimant. The final hearing conflicts with Mojela’s Consequentials hearing and thus the Company has applied to postpone it. During the year ended December 31, 2023, the parties entered into an agreement to settle this dispute for a sum of £67,392 to be paid in installment. During the year ended December 31, 2024, the Company paid the amount in full.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">On May 12, 2023, Tejinder Virk, former CEO of the Company, issued a claim for Detriment and dismissal for alleged protected disclosures totaling £1,630,302.22 net. The claim has been denied in its entirely. Witness statements were exchanged on 30 April 2024 and the Tribunal hearing is scheduled to take place by video between 8-10, 13-17 and 20 – 22 May 2024. On May 10, 2024, the Company entered into a settlement agreement with Tejinder Virk to settle the claims for a sum of £30,000 to be paid in installment. During the year ended December 31, 2024, the Company paid the amount in full and recognized a gain on debt settlement of $25,969 in the consolidated statements of loss and comprehensive loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">On May 15, 2023, Vidya Iyer, the Company’s former SVP of Finance issued a claim for amounts owing under her employment agreement totaling £151,774. Claim has been denied in its entirety and a counter-claim lodged for losses caused by the Claimant. Final hearing by video is slated between April 3, 2024 to April 5, 2024. Claimant updated her schedule of loss on December 19, 2023. Documents to be exchanged by January 8, 2024 with bundle to be produced by January 29, 2024. Witness statements to be exchanged by March 18, 2024. On March 27, 2024, the Company entered into a settlement agreement with Vidya Iyer to settle the claims for a sum of £30,000 to be paid in installment. During the year ended December 31, 2024, the Company paid the amount in full and recognized a gain on debt settlement of $147,437 in the consolidated statements of loss and comprehensive loss.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">On January 29, 2024, the Company was informed that Mr. Shailesh Bhushan, the former Chief Financial Officer of the Company, filed a complaint with the Employment Standards Branch of British Columbia claiming unpaid salary and invoices in the aggregate amount of CAD $271,990 from the period December 2022 through November 2023. The Company previously offered to Mr. Bhushan an annual salary of CAD $60,000 and as such, believes the claim to be frivolous, strongly disputes the amount claimed, and intends to vigorously defend itself. The Employment Standards Branch has prepared its Investigative Report in the matter and the report will be provided to the adjudicator who will determine the complaint. Following disclosure of the Investigative Report Mr. Bhushan has sought to withdraw his Employment Standards Branch complaint against the Company in order to pursue the same claims in the court action described below. The Company is objecting to Mr. Bhushan’s request to withdraw on the basis, among other things, of abuse of process. As of May 15, 2026, no decision has yet been made on the Company’s objection or the complaint.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">On February 23, 2024, Mr. Bhushan filed a Notice of Civil Claim in the Supreme Court of British Columbia against Akanda alleging constructive dismissal and claiming severance pay, general damages, aggravated and punitive damages, and allegedly unpaid salary and bonus. He also seeks special costs. Mr. Bhushan has named Akanda directors Jatinder Dhaliwal, Katharyn Field, David Jenkins, and Harvinder Singh as defendants, whom he alleges are personally liable for unpaid wages. The Company and the other defendants filed their Response to Civil Claim on May 2, 2024. The Company denies all liability and takes the position that Mr. Bhushan was terminated for just cause. The Company also disputes the amounts claimed, and denies that Akanda and Halo are a common employer. The proceeding is at the discovery stage and no trial date has been set. As of May 15, 2026, to the Company’s knowledge Mr. Bhushan has not yet attempted to amend his Notice of Civil Claim to include the claims he seeks to withdraw from the Employment Standards Branch complaint. The Company intends to object to any attempt to so amend on the basis, among other things, of abuse of process.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">On September 10, 2024, Dallas Dunkley filed a claim against the Company for wrongful dismissal. The Company served its Statement of Defense on November 20, 2024. The total amount claimed in the Statement of Claim is $200,000 on account of wrongful dismissal damages, damages for loss of vacation pay, and general, aggravated, and punitive damages, plus interest and costs. The Company’s position is that Mr. Dunkley was never an employee of the Company, and therefore, is not entitled to any damages. The parties have completed mediation and examinations for discovery, and a pre-trial has been scheduled for August 27, 2026. Liability is undetermined at this time in light of the early stage of litigation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In January 2024 and January 2025, the Company received subpoenas from the SEC, Division of Enforcement. As of December 31, 2025, no provision has been recorded because the Company does not believe that a present obligation exists for which an outflow of resources is probable and can be reliably estimated; however, the ultimate outcome of the matter cannot be predicted at this time.</p> 1832150.62 6849935.69 3000000 60000 100000 129705 9670 420659.95 67392 1630302.22 30000 25969 151774 30000 147437 271990 60000 200000 <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>29.</b></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Subsequent Events</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Subsequent to the year ended December 31, 2025, the Company:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">i.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Implemented a Reverse Stock Split:</i></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><i> </i></p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"> </td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 12, 2026, the Company implemented a 1-for-5 Reverse Stock Split on its ordinary shares. No fractional shares were issued in connection with the Reverse Stock Split. Any fractional shares resulting from the Reverse Stock Split were rounded down to the nearest whole number. All share and per share data in these consolidated financial statements have been retroactively restated to reflect the effect of the reverse stock split</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"> </td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 13, 2026, the Company implemented a 1-for-4.5 Reverse Stock Split on its ordinary shares. No fractional shares were issued in connection with the Reverse Stock Split. Any fractional shares resulting from the Reverse Stock Split were rounded down to the nearest whole number. All share and per share data in these consolidated financial statements have been retroactively restated to reflect the effect of the reverse stock split</span></td></tr> </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ii.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Issued the following shares:</i></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -14.75pt"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 14, 2026, pursuant to the conversion of September Note (note 16), the Company issued 26,217 common shares at conversion price of $15.26 for an aggregate principal amount of $399,957.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">b.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 16, 2026, pursuant to the conversion of September Note (note 16), the Company issued 26,217 common shares at conversion price of $15.26 for an aggregate principal amount of $399,957.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">  </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 48px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">c.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 23, 2026, pursuant to the final conversion of September Note (note 16), the Company issued 41,208 common shares at conversion price of $15.26 for an aggregate principal amount of $628,642.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="width: 24px"> </td> <td style="width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">iii.</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Closed a $7,000,000 Convertible Note Offering:</i></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -14.75pt"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">On January 21, 2026, the Company entered into a Securities Purchase Agreement dated January 20, 2026 (the “January Purchase Agreement”) with certain institutional investors (the “January Investors”) to issue and sell to each of the January Investors a convertible promissory note (each, individually, a “January Note” and collectively, the “January Notes”), for aggregate gross proceeds to the Company of $7.0 million (the “Purchase Price”), before deducting fees to the Placement Agent (as defined below) and other expenses payable by the Company in connection with the offering (the “January Offering”). The closing of the January Offering occurred on January 21, 2026.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">The Company intends to use the net proceeds from the sale of the January Notes for (i) marketing purposes of up to $2.3 million, (ii) working capital and general corporate purposes of approximately $2.6 million and (iii) the repayment of certain indebtedness of up to $2.1 million.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Univest Securities, LLC (the “Placement Agent”) acted as placement agent for the January Offering.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">The maturity date of each January Note is the 12-month anniversary of the issuance date of such January Note, and is the date upon which the principal amount, as well as any other fees, shall be due and payable. The January Notes bear interest at a rate of 10% per annum.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">Each January Investor has the right, at any time, to convert all or any portion of the then outstanding and unpaid principal amount and interest if any (including any costs, fees, and charges) into the Company’s Common Shares, at a conversion price (the “Conversion Price”) equal to the lower of (i) $5.715 per share (the “Initial Conversion Price”), (ii) 85% of the VWAP (as defined in the January Notes) of the Common Shares during the five consecutive Trading Day (as defined in the January Notes) period ending and including the Trading Day immediately preceding the delivery of the Conversion Notice (as defined in the January Notes); or (iii) 85% of the Closing Sale Price (as defined in the January Notes) on the Trading Day prior to the Conversion Notice being submitted; provided, however, that in no event shall the Conversion Price equal a price per share that is less than $1.143.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">In addition, the Company entered into an engagement letter, as amended (the Engagement Letter”) with the Placement Agent, pursuant to which the Placement Agent agreed to serve as the placement agent for the issuance and sale of securities of the Company. As compensation for such placement agent services, the Company has agreed to pay the Placement Agent an aggregate cash fee equal to 1.0% of the gross proceeds received by the Company from the January Offering. Accordingly, the Company intends to pay the Placement Agent $70,000 in cash fees in relation to the January Offering at the closing.</p> 1-for-5 1-for-4.5 26217 15.26 399957 26217 15.26 399957 41208 15.26 628642 7000000 7000000 2300000 2600000 2100000 0.10 5.715 0.85 0.85 1.143 0.01 70000 0001888014 false FY RPK was sold during the year ended December 31, 2024 Canmart was liquidated on May 30, 2025 The fair value of 218,706 special shares issued was determined to be $92.81 per special share using the market price at acquisition date. On November 10, 2022, the Company entered into an agreement (the “Loan Restructuring Agreement”) with Cellen Life Sciences Limited and Cellen Biotech Limited (collectively referred to as “Cellen”) which entails the restructuring of the payment terms applicable to the $500,000 loan payable by Cellen to the Company pursuant to a Bridge Loan Facility Agreement previously entered into on December 2, 2021. In terms of the Loan Restructuring Agreement, Cellen shall repay the $500,000 by no later than the fourth anniversary of the Loan Restructuring Agreement, namely by November 10, 2026. The loan shall not bear interest until the 2nd anniversary (namely November 10, 2024) of the Loan Restructuring Agreement, where thereafter, it shall bear interest at a rate of 5% per annum on the principal amount of the loan ($500,000). The loan is secured over the assets of Cellen. During the year ended December 31, 2025, the Company no longer controlled Canmart and as a result, the Company derecognized all assets and liabilities at their book values on May 30, 2025. The Company wrote down this loan with a net book value of $503,493 to $nil (note 6). During the year ended December 31, 2023, the Company loaned an amount of $84,020 (£66,000) to an arm’s length party. This loan is non-interest bearing, unsecured and has no specific terms of repayment. During the year ended December 31, 2024, the Company loaned out an additional $633 (£500). The additional loan is non-interest bearing, unsecured and has no specific terms of repayment. During the year ended December 31, 2025, the Company received a partial repayment of $347 (£270). As of December 31, 2025, the Company no longer controlled Canmart and as a result, the Company derecognized all assets and liabilities at their book values on May 30, 2025. The Company wrote down this loan with a net book value of $89,220 to $nil (note 6. On November 21, 2024, the Company entered into a Bridge Loan Agreement with First Towers & Fiber Corp., a corporation incorporated under the laws of the Province of British Columbia (“First Towers”) and a company controlled by a director of the Company (note 18), pursuant to which the Company loaned out $350,000 (the “Loan”) to First Towers. Interest of the prime rate (as defined in the Loan Agreement) plus 2% will accrue and be calculated daily on the principal amount of the Loan on the basis of the actual number of days the Loan is outstanding in a year of 365 or 366 days, as applicable, and will be compounded and payable monthly in arrears on the first business day of each month. The obligations under the Loan will rank as the third ranking and most senior secured debt of First Towers. The Loan, together with all accrued interest, fees and other amount payable pursuant to the Loan Agreement, will be due and payable by First Towers in full on demand by the Company. In addition, First Towers has the right at any time to repay the Loan or any part of the Loan without premium, penalty or bonus. As general and continuing collateral security for the obligations under the Loan Agreement, First Towers agreed to execute and deliver to and in favor of the Company, a general security agreement creating a third-ranking security interest over all of First Towers’ property, an investment property pledge agreement creating a third-ranking security interest in all present and after acquired shares owned in First Towers (the “Pledged Shares”), a control agreement for the Pledged Shares, and an insurance transfer and consent, assigning certain insurance of First Towers to the Company as mortgagee, third loss payee and additional named insured as required by the Loan Agreement. During the year ended December 31, 2024, the Company paid and accrued an amount of $15,969 (CAD21,875) of fees for services rendered by certain legal firms to Halo, a company controlled by the interim CEO of the Company (note 18). The transactions were accounted by the Company as advances or loans to Halo. The loans are non-interest bearing, unsecured and has no specific terms of repayment. During the year ended December 31, 2025, the Company paid an additional amount of $220,030 (CAD307,437) of fees for services rendered by certain legal firms to Halo. These amounts, accounted as loans, are non-interest bearing, unsecured and have no specific terms of repayment. During the year ended December 31, 2025, the Company determined that the receivable balance are no longer collectible from Halo and recognized a write-off of $235,686.