| LOANS PAYABLE |
10.
LOANS PAYABLE
Schedule of loan from non-related company
| | |
2026-06-30 | | |
2025-12-31 | |
| |
$ | | |
| $ | |
| | |
| | |
| | |
| Loan from non-related company (a) | |
55,103 | | |
| 69,429 | |
| Loan from non-related company (b) | |
8,541,888 | | |
| 7,150,626 | |
| Loan from non-related company (c) | |
— | | |
| 63,467 | |
| Loan from non-related company (d) | |
1,941 | | |
| 13,579 | |
| Loans Payable | |
8,598,931 | | |
| 7,297,100 | |
| a) | The
amount due to a non-related party was replaced with an unsecured loan of US$394,781 (CAD$536,073),
including interest of USD$75,930 (CAD$103,105), dated December 5, 2023. The loan bears
interest at a fixed rate of 11% per annum and was payable over 24 months in blended principal
and interest payments. |
On
December 22, 2025, the Company partially settled a portion of the remaining balance of the loan of USD$147,000 (CAD$202,056) including
USD$32,797 (CAD$45,089) of interest (principal portion USD $114,203 (CAD $157,007), by issuing 69,929 common shares of the Company.
The carrying value of the debt extinguished at the date of settlement was USD $147,000 (CAD $202,096).
During
the period ended June 30, 2026, the Company repaid USD $14,400 (CAD $19,867) for a remaining balance of USD $38,777 (CAD $55,103)
bearing interest at a fixed rate of 11% per annum and payable over 24 months in blended principal and interest payments.
| b) | The
loan is pursuant to a two-year term loan facility of USD $5,000,000 (CAD $6,834,000 dated
April 26, 2024 with FEI Ongrid to NuRAN Wireless (Africa) Holding. The loan is secured
on the business and assets of NuRAN Wireless Cameroon Ltd and NuRAN Wireless DRC SA under
a general security agreement and bears interest at the Secured Overnight Financing Rate
(SOFR) plus 8.5% per annum. Interest accrues but is not payable until maturity. The terms
of the loan were amended in an agreement signed on May 14, 2026, extending the maturity
date to April 26, 2027. The Company paid a restructuring fee of USD 25,000 and agreed
that the interest would be partially paid in cash commencing August 31, 2026 in accordance
with an agreed payment schedule through maturity. |
On
March 10, 2025, the Company received a drawdown of USD 1,050,000 (CAD 1,515,255).
On
October 6, 2025, the Company received a drawdown of USD 1,000,000 (CAD 1,395,500).
On
March 13, 2026, the Company received the final drawdown under the facility of USD 450,000 (CAD 627,255).
During
the six-month period ended June 30, 2026, the Company capitalized USD $344,031 (CAD $488,868) in interest.
| c) | The
loan, secured by guarantee of the parent company, is pursuant to a bank facility of CFA
150,000,000 (approx. $366K) with Société Générale Cameron
to NuRAN Cameroon Ltd, dated June 20, 2024. The disbursement was made on February 25,
2025. The loan bears interest at a fixed rate of 7% and is payable monthly in blended
principal and interest payments in the amount of CFA 12,283,126 (approx. $31K) over 12
months from the disbursement date. |
During
the year ended December 31, 2025, the Company repaid CFA 124,126,824 for a remaining balance of CFA 25,873,176.
During,
the six-month period ended June 30, 2026, the Company fully repaid the loan.
| d) | The
unsecured loan is an installment payment agreement of $23,279 including interest at a
fixed rate of 14.8% dated July 28, 2025 and is payable monthly in blended principal and
interest payments in the amount of $1,924 over 12 months. |
During
the year ended December 31, 2025, the Company repaid $9,699 for a remaining balance of $13,579.
During
the six-month period ended June 30, 2026, the Company repaid $11,639 for remaining balance of $1,940.
|