NOTE 7. DEMAND LOAN PAYABLE

During the year ended December 31, 2021, the Company secured a loan facility from a shareholder to provide working capital. The loan is non-interest bearing and due upon demand.

On June 10, 2026, the demand loan payable was terminated and deemed paid in full under the note termination agreement with Compass North. The carrying amount of $71,848 was credited to additional paid-in capital as a capital contribution from the controlling shareholder. As of June 30, 2026, the balance of the demand loan payable was $nil (December 31, 2025 – $71,848). See note 9.