​

  ​ ​ ​

As at

  ​ ​ ​

As at

​

​

May 31,

​

August 31,

​

​

2026

​

2025

​

  ​ ​

$

  ​ ​

$

Term loans, bearing interest at rates varying between 9.44% and 13.87%, repayable in monthly instalments of $13,609, ending December 2026

—

189,864

Equipment loan bearing interest at 7% per annum repayable in monthly instalments of $8,154 maturing July 11, 2030

​

352,750

​

397,680

Equipment loan bearing interest at 6.75% per annum repayable in monthly instalments of $15,947 maturing June 1, 2030

​

669,205

​

775,740

Promissory note bearing interest at variable rates repayable in monthly instalments of $25,000 maturing May 15, 2026

​

15,000

​

200,042

Bridge loan bearing interest at 8% per annum compounded monthly and repayable at the later of 90 days from the date of issuance or upon closing of certain equity financing, secured by a moveable hypotec on the assets of the Vision Marine segment [note 23]

​

813,082

​

—

Small Business Administration loan bearing interest at 3.75% repayable in monthly instalments of principal and interest of $730, maturing in September 2050

​

150,000

​

—

Small Business Administration interest-free loan repayable in monthly instalments of $1,000

​

141,193

​

149,029

Equipment loans from First Horizon Bank averaging interest at 4.53% with varying maturities extending between September 2025 and January 2028

​

147,267

​

252,795

Automobile loans bearing interest at rates varying between 0% to 1.9% per annum extending between May 2026 and February 2028

​

40,417

​

65,845

​

2,328,914

2,030,995

Current portion of long-term debt

1,201,224

657,110

​

1,127,690

1,373,885