Right-of-use assets and lease liabilities

12 Months Ended

Jun. 30, 2025

Notes and other explanatory information [abstract]

Right-of-use assets and lease liabilities

13. Right-of-use assets and lease liabilities:

The continuity of the right-of-use assets as of June 30, 2025 and 2024 is as follows:

Right-of-use asset	Office			Vehicle		IPP facilities		Total
Cost:
Balance, June 30, 2024	$	314		$	-	$	947	$	1,261
Addition from acquisition (note 19)		-			-		8,168		8,168
Additions – asset retirement cost		-			-		123		123
Additions		-			33		-		33
Modifications		(17	)		-		-		(17	)
Balance, June 30, 2025	$	297		$	33	$	9,238	$	9,568
Accumulated Depreciation:
Balance, June 30, 2024	$	124		$	-	$	52	$	176
Modifications		(5	)		-		-		(5	)
Depreciation		83			8		718		809
Balance, June 30, 2025	$	202		$	8	$	770	$	980
Net Book Value, June 30, 2025	$	95		$	25	$	8,468	$	8,588

POWERBANK CORPORATION

(FORMERLY SOLARBANK CORPORATION)

Notes to Consolidated Financial Statements

(Expressed in thousands of Canadian dollars, except per share amounts and as otherwise indicated)

For the years ended June 30, 2025 and 2024

13. Right-of-use assets and lease liabilities (continued):

Right-of-use asset	Office		IPP Facilities		Total
Cost:
Balance, June 30, 2023	$	198	$	-	$	198
Addition		116		947		1,063
Balance, June 30, 2024	$	314	$	947	$	1,261
Accumulated Depreciation:
Balance, June 30, 2023	$	53	$	-	$	53
Depreciation		71		52		123
Balance, June 30, 2024	$	124	$	52	$	176
Net Book Value, June 30, 2024	$	190	$	895	$	1,085

IPP facilities depreciation expense is recorded in cost of goods sold for the year ended June 30, 2025 of $718 (June 30, 2024 - $52). The remaining $91 for the year ended June 30, 2025 relate to office lease depreciation expense, which is recorded under operating expenses (June 30, 2024 - $71).

The continuity of the lease liabilities as of June 30, 2025 and 2024 is as follows:

Lease liabilities	Office			Vehicle			IPP Facilities			Total
Balance, June 30, 2024	$	230		$	-		$	912		$	1,142
Additions from acquisition (note 19)		-			-			7,043			7,043
Additions		-			33			-			33
Modifications		(17	)		-			-			(17	)
Payments		(114	)		(10	)		(857	)		(981	)
Interest accretion		15			2			444			461
Balance, June 30, 2025	$	114		$	25		$	7,542		$	7,681
Current		94			11			886			991
Non-current		20			14			6,656			6,690
Balance, June 30, 2025	$	114		$	25		$	7,542		$	7,681

Lease liabilities	Office			IPP Facilities			Total
Balance, June 30, 2023	$	173		$	-		$	173
Additions		116			947			1,063
Payments		(81	)		(73	)		(154	)
Interest accretion		22			38			60
Balance, June 30, 2024	$	230		$	912		$	1,142
Current		96			53			149
Non-current		134			859			993
Balance, June 30, 2024	$	230		$	912		$	1,142

POWERBANK CORPORATION

(FORMERLY SOLARBANK CORPORATION)

Notes to Consolidated Financial Statements

(Expressed in thousands of Canadian dollars, except per share amounts and as otherwise indicated)

For the years ended June 30, 2025 and 2024

13. Right-of-use assets and lease liabilities (continued):

The maturity analysis of the Company’s contractual undiscounted lease liabilities as of June 30, 2025 is as follows:

July 1, 2025 – June 30, 2026	$	1,098
July 1, 2026 – June 30, 2027		910
July 1, 2027 – June 30, 2028		880
July 1, 2028 – June 30, 2029		877
July 1, 2029 onward		6,775
Total	$	10,540