Related Party Transactions

6 Months Ended

Jun. 30, 2025

Related Party Transactions [Abstract]

Related Party Transactions [Text Block]

8. Related Party Transactions

For the three and six-month periods ended June 30, 2025, the Company incurred $108,420 (C$150,000) and $212,940 (C$300,000)  (2024-$109,620; C$150,000 and $220,830; C$300,000) respectively, in management fees expense with Travellers International Inc. ("Travellers"), an Ontario company controlled by a director and the president and chief executive officer (the "CEO"); and $27,105 (C$37,500) and $53,235 (C$75,000) (2024-$27,803; C$37,500 and $55,208; C$75,000) respectively, in management fees expense with the Company's chief financial officer (the "CFO"). As at June 30, 2025, unpaid remuneration and unpaid expenses in the amount of $763,479 (C$1,041,581) (December 31, 2024-$488,294; C$702,581) is included in accounts payable and $279,299 (C$381,436) (December 31, 2024-$212,695; C$306,036) is included in accrued liabilities in the interim condensed consolidated balance sheets.

For the three and six-month periods ended June 30, 2025, the Company incurred $32,717 (C$45,449) and $57,228 (C$80,625) (2024-$28,434; C$38,931 and $59,700; C$81,103) respectively, in rent expense paid under a lease agreement with Haute Inc. ("Haute"), an Ontario company controlled by the CEO. The lease agreement had expired and the Company is currently on a month-to-month arrangement.

In the prior year, on January 11, 2024, Travellers converted $101,130 (C$135,600) of accounts payable into 809,044 common shares of the Company at the closing trading price immediately prior to the conversion.  There was no gain or loss on this conversion.

For the independent directors, the Company recorded directors' compensation during the three and six-month periods ended June 30, 2025 of $13,553 (C$18,750) and $26,618 (C$37,500) (2024-$18,270; C$25,000 and $36,805; C$50,000) respectively. As at June 30, 2025, outstanding directors' compensation of $287,368 (C$392,043) (December 31, 2024-$246,407; C$354,543) is included in accrued liabilities in the interim condensed consolidated balance sheets.