v3.26.1
Consolidated Statements of Cash Flows - CAD ($)
$ in Thousands
 12 Months Ended
May 31, 2026
May 31, 2025
Cash Flows from Operating Activities:    
Net Income (Loss) $ (33,096) $ 5,200
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 298 138
Stock-based compensation 7,159 1,492
Registered Share Offering Costs 290
Change in fair value of Forward Purchase Agreement 740
Gain on Termination of Forward Purchase Agreement (21,400)
Change in Warrant liability 10,802 1,988
Changes in operating assets and liabilities:    
Prepaid expenses (3,239) 1,901
Accounts receivable (702) 321
Accounts payable 2,092 (36)
Accrued liabilities 193 51
Operating leases 1 3
Net cash used in operating activities (16,492) (9,312)
Cash Flows used in Investing Activities:    
Purchase of property and equipment (967) (142)
Net cash used in investing activities (967) (142)
Cash Flows from Financing Activities:    
Net Proceeds from Sales Agreement 27,852 880
Proceeds from RDO I 27,232
RDO I Costs (2,196)  
Proceeds from RDO II 34,571
RDO II Costs (2,611)  
Proceeds from Class A Ordinary Shares to be Issued 35
Proceeds from Registered Securities Offering 3,947
Registered Share Offering Costs (510)
Proceeds from exercise of stock options 28
Net Proceeds from Issuance of Class A Ordinary shares 2,082
Net Proceeds from Issuance of Preferred Shares 6,277
Forward Purchase Agreement termination (278)
Proceeds from Warrants exercised 3,280 2,787
Net cash provided by financing activities 88,191 15,185
Net Change in Cash and Cash Equivalents 70,732 5,731
Cash and Cash Equivalents - Beginning of year 7,547 1,816
Cash and Cash Equivalents - End of year 78,279 7,547
Taxes paid
Interest paid $ 1 $ 1