Hudson Bay Lease 

On May 20, 2025, the Company received notice of the termination of its lease at 401 Bay Street, pursuant to the liquidation proceedings of its landlord, Hudson’s Bay Company ULC, in the Ontario Superior Court of Justice. The Company has vacated the premises and has no further obligations under its commercial lease. Pursuant to the cancellation of the head lease the Company’s sub leases were also cancelled.

Operating lease expense for the three months ended September 30, 2026 and 2025 was $0 and $0, respectively. Operating lease expense for the nine months ended September 30, 2026 and 2025 was $0 and $104,444, respectively. Total sub-lease income for three months ended September 30, 2026 and 2025 was $0 and $0, respectively. Total sub-lease income for the nine months ended September 30, 2026 and 2025 was $0 and $51,952, respectively.

Hennessey Building Lease

On May 1, 2026 the Company entered an operating lease for office space in Butte, Montana through May 31, 2029. This lease has fixed base and common area maintenance (“CAM”) fees and does not contain any variable components.

Pursuant to the terms of the lease agreement, the lessor will provide free rent for May through September 2026. Beginning in October 2026, the Company will pay monthly base rent and fixed CAM fees of $3,305 through May 31, 2029. The Company applied a discount rate of 8% to this lease. The initial amount recorded for the right of use asset and lease liability was $95,992.

Thornton Building Lease 

On August 1, 2026 the Company entered an operating lease for office space in Butte, Montana through July 31, 2029. This lease has fixed base expense and variable common area maintenance (“CAM”) fees.

Pursuant to the terms of the lease agreement, the Company will pay monthly base rent expense of $2,901 through July 31, 2029. The Company applied a discount rate of 8% to this lease. The initial amount recorded for the right of use asset and lease liability was $93,201.

At September 30, 2026 the right of use asset and right of use and liability balances were $172,964 and $187,822, respectively. Total lease expense for the three and nine months ended September 30, 2026, was $16,746 and $20,662.

The Company also incurred variable lease costs for the three and nine months ended September 30, 2026, was $2,027 and $2,027.

In addition, the Company as lessee is required to maintain general commercial liability insurance on the property in the amount of $1,000,000 per occurrence and $2,000,000 in the aggregate.

The following table is a maturity analysis of the future minimum lease payments for operating leases as of September 30, 2026:

Schedule of maturity analysis of future minimum lease payments for operating leases