OFFICE LEASE RIGHT OF USE ASSET AND LEASE LIABILITY |
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| OFFICE LEASE - RIGHT OF USE ASSET AND LEASE LIABILITY | 13. OFFICE LEASE – RIGHT OF USE ASSET AND LEASE LIABILITY
The Company subleases corporate offices in Vancouver, BC, from HDSI under a lease agreement dated May 1, 2021, which expired on April 29, 2026. On May 1, 2026, the lease agreement was renewed for another 5 year term, expiring on April 30, 2031. Right-of-use asset
A summary of the changes in the right-of-use asset for the three months ended June 30, 2026 is as follows:
Lease liability
On May 1, 2026, the Company entered into the lease agreement, which resulted in the lease liability of $212,682 (undiscounted value of $162,950, discount rate used was 12.00%). This liability represents the monthly lease payment from May 1, 2026 to April 30, 2031, the end of the lease term less abatement granted by HDSI.
A summary of changes in the lease liability during the three months ended June 30, 2026 are as follows:
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