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SHARE CAPITAL
6 Months Ended
Jun. 30, 2026
Share Capital  
SHARE CAPITAL

 

13. SHARE CAPITAL

 

13.1 Capital stock

 

The Company is authorized to issue an unlimited number of Subordinate Voting Shares (“SV Shares”) and Multiple Voting shares (“MV Shares”) at no par value and an unlimited number of preferred shares issuable in series. The SV Shares can be converted into MV Shares at a conversion ratio of 1,000:1, and the MV Shares carry 1,000 votes per share.

 

13.2 Dividends

 

The directors may declare dividends on one or more class of shares to the exclusion of the others or declare dividends at different rates on different classes of shares, at their discretion. No dividends shall be declared on SV Shares or the MV Shares if to do so would reduce the value of the net assets of the Company to less than the paid in capital of the common stock.

 

No dividends were declared on the Company’s SV Shares or MV Shares during the six months ended June 30, 2026 and the year ended December 31, 2025.

 

During the three and six months ended June 30, 2026, the Company’s subsidiary Golden Harvests, LLC, declared and paid dividends of $150,000 and $206,800, respectively (2025 – $nil and $nil , respectively) to its non-controlling interest holder.

 

During the three and six months ended June 30, 2026, the Company’s subsidiary, GRMA, declared and paid preferred return distributions on the voting preferred units of GRMA (the “GRMA Units”) of $nil and $28,356, respectively (2025 – $nil and $nil , respectively) to its non-controlling interest holder.