Loans Payable

12 Months Ended

Jan. 31, 2022

Loans Payable

11. Loans Payable

	Loans Payable $			Current $		Long-term $
Balance, January 31, 2021, 2020 and 2019		–			–		–
Proceeds from loans payable		120,000
Premium on loans payable		(50,949	)
Accretion		5,508
Balance, January 31, 2022		74,559			40,000		34,559

In February 2021, the Company and its wholly-owned subsidiary, MedMelior, each entered into Canada Emergency Business Account (“CEBA”) term loan agreements for $60,000 with an initial expiry date of December 31, 2023 and interest rate of nil% per annum during this initial term. The CEBA term loan agreements also provide for an extended maturity date of December 31, 2025 and interest rate of 5% per annum during the extended term.