Note 9 - Term Loans Payable |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Statement Line Items [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of short-term loans payable [text block] |
During the year ended March 31, 2023, the Company entered into a loan agreement with a related party to borrow $1,145,520, inclusive of a prior advance of $145,520 (collectively, the “Loan”), included in short-term loans payable, with Jason Barnard, CEO, and Christina Barnard, COO, of the Company. The terms of the Loan have been amended several times, as detailed below:
Initial Terms ( May 10, 2022): Interest rate of 8.35% per annum, payable monthly, with a maturity date of May 10, 2023. Amendment 1 ( May 1, 2023): The interest rate was increased to 11.35% per annum. The maturity date was extended to May 10, 2024. Amendment 2 ( April 26, 2024): The maturity date was extended to May 10, 2025. Amendment 3 ( October 4, 2024): The Loan was revised to exclude the newly optioned Denison properties as collateral, and the interest rate was reduced to 9% per annum, effective through to October 4, 2025.
The Company incurred $14,993 (2025 - $96,768, 2024 - ) in interest and paid the outstanding balance in full including accrued interest during the year ended March 31, 2026. |
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