Loans Payable

9 Months Ended

Mar. 31, 2021

Loans Payable [Abstract]

Loans Payable

9. Loans Payable

(a)

On January 27, 2020, the Company entered into a finance loan agreement relating to the acquisition of a company vehicle.  Under the terms of the finance loan, the Company will make monthly installment payments of $1,089 at an interest rate of 7.99% per annum, which is due in February 2026. On January 25, 2021, the Company repaid the remaining balance of $54,000 (June 30, 2020 - $59,236) on the finance loan.

(b)

On May 7, 2020, the Company received $255,992 from the U.S. Small Business Administration as part of the Paycheck Protection Program. The amounts are unsecured, bears interest at 1% per annum commencing on November 7, 2020, and is due on May 7, 2022.