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<div> <div> <div> <div> <div> 1. NATURE OF OPERATIONS C21 Investments Inc. (the "Company" or "C21") was incorporated January 15, 1987, under the Company Act of British Columbia. The Company is a publicly traded company with its registered office is 170-601 West Cordova Street, Vancouver, BC, V6B 1G1. Pursuant to a change of business announced on January 29, 2018 to the Cannabis industry, the Company commenced acquiring and operating revenue-producing cannabis operations in the USA. On June 15, 2018, the Company's common shares were delisted from the TSX Venture Exchange ("TSX-V") at the Company's request and on June 18, 2018 the Company commenced trading on the Canadian Securities Exchange ("CSE"), completed its change of business to the cannabis industry and commenced trading under the symbol CXXI. The Company registered its common shares in the United States and on May 6, 2019, its shares were cleared by the Financial Industry Regulatory Authority for trading on the OTC Markets platform under the U.S. trading symbol CXXIF. On September 28, 2020, the Company began trading on the OTCQB® Venture Market. For the year ended January 31, 2021, the Company operated in two segments: recreational cannabis in Oregon, USA and recreational and medical cannabis in Nevada, USA (Note 16). During the year ended January 31, 2022, the Company made the strategic decision to exit operations in Oregon. The comparative results of operations have been re-stated to present the operating results of the Oregon segment as discontinued operations. The Nevada segment remains engaged in the cultivation of and manufacturing of cannabis flower products, vape products and extract products for wholesale and retail sales. At January 31, 2023, the Company had a working capital deficit of $6,231,895 (2022 - $5,689,642) and an accumulated deficit of $69,471,712 (2022 - $69,764,923). However, for the year ended January 31, 2023, the Company generated net income and positive cash flows from continuing operations. At the federal level, however, cannabis currently remains a Schedule I controlled substance under the Federal Controlled Substances Act of 1970. Under U.S. federal law, a Schedule I drug or substance has a high potential for abuse, no accepted medical use in the United States, and a lack of accepted safety for the use of the drug under medical supervision. As such, even in those states in which marijuana is legalized under state law, the manufacture, importation, possession, use or distribution of cannabis remains illegal under U.S. federal law. This has created a dichotomy between state and federal law, whereby many states have elected to regulate and remove state-level penalties regarding a substance which is still illegal at the federal level. There remains uncertainty about the US federal government's position on cannabis with respect to cannabis-legal status. A change in its enforcement policies could impact the ability of the Company to continue as a going concern. </div> </div> </div> </div> </div>

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<div> <div> <div> <div> <div> 2. BASIS OF PREPARATION a) Basis of presentation These consolidated financial statements as of and for the years ended January 31, 2023 and 2022 ("consolidated financial statements") are prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). These consolidated financial statements have been prepared on an accrual basis and are based on historical costs, except for certain financial instruments classified as fair value through profit or loss. b) Functional and reporting currency The functional currency of C21 Investments Inc. is Canadian dollars ("C$"), and the functional currency of the Company's subsidiaries is U.S. dollars. C21 has determined that the U.S. dollar ("USD") is the most relevant and appropriate reporting currency as the Company's operations are conducted in U.S. dollars and its financial results are prepared and reviewed internally by management in U.S. dollars. The consolidated financial statements are presented in U.S. dollars unless otherwise noted. <div> </div> c) Basis of consolidation The consolidated financial statements incorporate the accounts of the Company and all the entities in which the Company has a controlling voting interest and is deemed to be the primary beneficiary. All consolidated entities were under common control during the entirety of the periods for which their respective results of operations were included in the consolidated statements from the date of acquisition. All intercompany balances and transactions are eliminated upon consolidation. A summary of the Company's subsidiaries included in these financial statements as at January 31, 2023 is as follows: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt;"> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap;">Name of subsidiary (1)</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Principal activity</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom; border-top: 0.75pt solid #000000; background-color: #e6efff;">320204 US Holdings Corp.</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; border-top: 0.75pt solid #000000; background-color: #e6efff; text-align: center;">Holding Company</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom;">320204 Oregon Holdings Corp.</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; text-align: center;">Holding Company</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom; background-color: #e6efff;">320204 Nevada Holdings Corp.</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">Holding Company</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom;">320204 Re Holdings, LLC</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; text-align: center;">Holding Company</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom; background-color: #e6efff;">Eco Firma Farms LLC (2)</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">Cannabis producer</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom;">Silver State Cultivation LLC</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; text-align: center;">Cannabis producer</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom; background-color: #e6efff;">Silver State Relief LLC</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">Cannabis retailer</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom;">Swell Companies LTD (2)</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; text-align: center;">Cannabis processor, distributor</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom; background-color: #e6efff;">Megawood Enterprises Inc. (2)</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">Cannabis retailer</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom;">Phantom Venture Group, LLC (2)</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; text-align: center;">Holding Company</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom; background-color: #e6efff;">Phantom Brands, LLC (2)</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">Holding Company</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom;">Phantom Distribution, LLC (2)</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; text-align: center;">Cannabis distributor</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom; background-color: #e6efff;">63353 Bend, LLC (2)</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">Cannabis producer</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom;">20727-4 Bend, LLC (2)</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; text-align: center;">Cannabis processor</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom; background-color: #e6efff;">4964 BFH, LLC (2)</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">Cannabis producer</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000;">Workforce Concepts 21, Inc.</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: center;">Payroll and benefits services</td> </tr> </table> (1) All subsidiaries of the Company were incorporated in the USA, are wholly owned and have USD as their functional currency. (2) Operations discontinued and results included in discontinued operations. d) Restatement of the January 31, 2022 consolidated financial statements The January 31, 2022 balances have been restated for an error in the Company's measurement of income taxes payable. The Company identified amounts of depreciation, amortization and lease payments included in its calculation of income taxes payable for the years ended January 31, 2022 and 2021 that are ineligible for deduction. The Company also identified amounts of inventory impairments that were not included as deductible expenses. The effects of the restatement in the consolidated balance sheet as at January 31, 2022 are as follows: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 26.7pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">Previously reported</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">Change</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">Restated</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Income taxes payable</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">3,658,162</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,212,008</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">4,870,170</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Deferred tax asset</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">9,024</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">(9,024</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Deferred tax liability</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">33,558</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">33,558</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom;">Deficit</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">(68,510,333</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">(1,254,590</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">(69,764,923</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;">)</td> </tr> </table> The effects of the restatement in the consolidated statement of comprehensive income for the year ended January 31, 2022 are as follows: <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 26.7pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right;">Previously reported</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right;">Change</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right;">Restated</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> <div> </div> </td> <td style="vertical-align: bottom; text-align: right;"> </td> <td style="vertical-align: bottom; text-align: right;">$</td> <td style="vertical-align: bottom; text-align: right;"> </td> <td style="vertical-align: bottom; text-align: right;"> </td> <td style="vertical-align: bottom; text-align: right;">$</td> <td style="vertical-align: bottom; text-align: right;"> </td> <td style="vertical-align: bottom; text-align: right;"> </td> <td style="vertical-align: bottom; text-align: right;">$</td> <td style="vertical-align: bottom; text-align: right;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff;">Income tax expense</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">(3,973,246</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">(961,221</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">(4,934,467</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> </table> </div> <div style="margin-top: 0pt; margin-bottom: 0pt;"> </div> For the year ended January 31, 2022, the consolidated statement of cash flows contains an adjustment of $961,221 within net income after taxes from continuing operations and changes in income taxes payable. Opening deficit as at January 31, 2022 contains an adjustment of $293,370 in respect of income tax expense pertaining to ineligible deductions in the year ended January 31, 2021. For the year ended January 31, 2022, basic and diluted income per share from continuing operations and basic and diluted income per share decreased from $0.11 and $0.09, respectively, to $0.10 and $0.08, respectively. </div> </div> </div> </div> </div>

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt;"> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap;">Name of subsidiary (1)</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Principal activity</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom; border-top: 0.75pt solid #000000; background-color: #e6efff;">320204 US Holdings Corp.</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; border-top: 0.75pt solid #000000; background-color: #e6efff; text-align: center;">Holding Company</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom;">320204 Oregon Holdings Corp.</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; text-align: center;">Holding Company</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom; background-color: #e6efff;">320204 Nevada Holdings Corp.</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">Holding Company</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom;">320204 Re Holdings, LLC</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; text-align: center;">Holding Company</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom; background-color: #e6efff;">Eco Firma Farms LLC (2)</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">Cannabis producer</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom;">Silver State Cultivation LLC</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; text-align: center;">Cannabis producer</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom; background-color: #e6efff;">Silver State Relief LLC</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">Cannabis retailer</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom;">Swell Companies LTD (2)</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; text-align: center;">Cannabis processor, distributor</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom; background-color: #e6efff;">Megawood Enterprises Inc. (2)</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">Cannabis retailer</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom;">Phantom Venture Group, LLC (2)</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; text-align: center;">Holding Company</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom; background-color: #e6efff;">Phantom Brands, LLC (2)</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">Holding Company</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom;">Phantom Distribution, LLC (2)</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; text-align: center;">Cannabis distributor</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom; background-color: #e6efff;">63353 Bend, LLC (2)</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">Cannabis producer</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom;">20727-4 Bend, LLC (2)</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; text-align: center;">Cannabis processor</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom; background-color: #e6efff;">4964 BFH, LLC (2)</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">Cannabis producer</td> </tr> <tr> <td style="width: 73.34%; padding-right: 1.4pt; padding-left: 3.45pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000;">Workforce Concepts 21, Inc.</td> <td style="width: 26.66%; padding-right: 1.4pt; padding-left: 3.35pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: center;">Payroll and benefits services</td> </tr> </table>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 26.7pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">Previously reported</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">Change</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">Restated</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Income taxes payable</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">3,658,162</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,212,008</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">4,870,170</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Deferred tax asset</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">9,024</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">(9,024</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Deferred tax liability</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">33,558</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">33,558</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom;">Deficit</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">(68,510,333</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">(1,254,590</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">(69,764,923</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;">)</td> </tr> </table> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 26.7pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right;">Previously reported</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right;">Change</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right;">Restated</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> <div> </div> </td> <td style="vertical-align: bottom; text-align: right;"> </td> <td style="vertical-align: bottom; text-align: right;">$</td> <td style="vertical-align: bottom; text-align: right;"> </td> <td style="vertical-align: bottom; text-align: right;"> </td> <td style="vertical-align: bottom; text-align: right;">$</td> <td style="vertical-align: bottom; text-align: right;"> </td> <td style="vertical-align: bottom; text-align: right;"> </td> <td style="vertical-align: bottom; text-align: right;">$</td> <td style="vertical-align: bottom; text-align: right;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff;">Income tax expense</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">(3,973,246</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">(961,221</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">(4,934,467</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> </table> </div>

3658162

1212008

4870170

9024

-9024

33558

-68510333

-1254590

-69764923

3973246

961221

4934467

961221

293370

0.11

0.09

0.1

0.08

<div> 3. SIGNIFICANT ACCOUNTING POLICIES <div> <div> <div> a) Significant accounting estimates and assumptions The preparation of the Company's financial statements in conformity with U.S. GAAP requires management to make judgments, estimates and assumptions that affect the reported amounts of assets, liabilities and contingent liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Estimates and assumptions are continuously evaluated and are based on management's experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from those estimates and judgments. Areas requiring a significant degree of estimation and judgment relate to the determination of recoverability of goodwill, recoverability of intangible assets, fair value less costs to sell of assets classified as held for sale, estimates used in valuation and costing of inventory, impairment of long-lived assets and inventory, fair value measurements, useful lives, depreciation and amortization of property, equipment and intangible assets, the recoverability and measurement of deferred tax assets and liabilities, share-based compensation, and fair value of derivative liabilities. </div> <div> <div> b) Cash Cash held in financial institutions and cash held at retail locations, have carrying values that approximate fair value. The recent closures of Silicon Valley Bank, Signature Bank and First Republic Bank and their placement into receivership with the Federal Deposit Insurance Corporation ("FDIC") have identified bank-specific liquidity risks and concerns. Although the Department of the Treasury, the Federal Reserve, and the FDIC jointly released a statement that depositors at Silicon Valley Band and Signature Bank would have access to their funds, even deposit amounts that exceed FDIC deposit insurance limits, future adverse developments with respect to specific financial institutions or the broader financial services industry may lead to market-wide liquidity shortages. The failure of any bank in which we deposit our funds could reduce the amount of cash we have available for our operations or delay our ability to access such funds. Any such failure may increase the possibility of a sustained deterioration of financial market liquidity, or illiquidity at clearing, cash management and/or custodial financial institutions. We do not currently have a commercial relationship with a bank that has failed or is, to our knowledge, otherwise is experiencing operational distress, nor have we experienced delays or other issues in meeting our financial obligations. If other banks and financial institutions enter receivership or become insolvent in the future in response to financial conditions affecting the banking system and financial markets, our ability to access our cash may be threatened and could have a material adverse effect on our business operations and financial condition. As at January 31, 2023, the Company had FDIC coverage over $697,945 (January 31, 2022 - $850,704) of its cash balance. </div> </div> <div> c) Foreign currency translation Foreign currency transactions are translated into U.S. dollars at exchange rates in effect on the date of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rate at the reporting date. All differences are recorded in the consolidated statements of income and comprehensive income. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the initial transaction. Non-monetary items measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value is determined. Assets and liabilities of foreign operations are translated into U.S. dollars at year-end exchange rates and any revenue and expenses are translated at the average exchange rate for the year. The resulting exchange differences are recognized in other comprehensive income. </div> <div> </div> <div> d) Inventory Inventory consists of raw materials, consumables and packaging supplies used in the process to prepare inventory for sale; work in process consisting of pre-harvested cannabis plants, by-products to be extracted, oils and terpenes; and finished goods. Inventory is valued at the lower of cost and net realizable value, with cost determined using the weighted average cost method. Net realizable value is calculated as the estimated selling price in the ordinary course of business, less any estimated costs to complete and sell the goods. Costs are capitalized to inventory, until substantially ready for sale. Costs include direct and indirect labor, raw materials, consumables, packaging supplies, utilities, facility costs, quality and testing costs, production related depreciation and other overhead costs. The Company records inventory reserves for obsolete and slow-moving inventory. <div> Inventory reserves are based on inventory obsolescence trends, and the historical and professional experience of management. The Company classifies cannabis inventory as a current asset, although, due to the duration of the cultivation, drying, and conversion process, certain inventory items may not be realized in cost of sales within one year. </div> </div> <div> e) Property and equipment Property and equipment is measured at cost less accumulated depreciation and losses on impairment. Depreciation is provided on the straight-line basis over the estimated useful lives of the assets as follows: <div> <div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt;"> <tr> <td style="width: 27.74%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> Buildings </td> <td style="width: 72.26%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> 45 years </td> </tr> <tr> <td style="width: 27.74%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> Furniture & fixtures </td> <td style="width: 72.26%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> 5 years </td> </tr> <tr> <td style="width: 27.74%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> Computer equipment </td> <td style="width: 72.26%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> 3 years </td> </tr> <tr> <td style="width: 27.74%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> Machinery & equipment </td> <td style="width: 72.26%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> 2-7 years </td> </tr> <tr> <td style="width: 27.74%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> Leasehold improvements </td> <td style="width: 72.26%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> shorter of the life of the improvement or the remaining life of the lease </td> </tr> </table> </div> </div> </div> <div> </div> <div> f) Intangible assets Intangible assets are recorded at cost less accumulated amortization and accumulated impairment losses, if any. Intangible assets acquired in a business combination are measured at fair value at the acquisition date. Intangible assets with finite useful lives are amortized on a straight-line basis over their estimated useful lives. Amortization of intangible assets begins when the asset becomes available for use. Brands, licenses, and customer relationships are amortized over 10 years, which reflect the estimated useful lives of the intangible assets. </div> <div> g) Goodwill Goodwill represents the excess of the purchase price paid for the acquisition of subsidiaries over the fair value of the net intangible and tangible assets acquired. Following the initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill is allocated to the reporting unit in which the business that created the goodwill resides. A reporting unit is an operating segment, or a business unit one level below that operating segment, for which discrete financial information is prepared and regularly reviewed by segment management. The Company's goodwill is part of the Nevada reporting unit. Goodwill is tested annually for any impairment, or more frequently in the case that events or circumstances indicate that the carrying amount of a reporting unit may not be recoverable. The Company may elect to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If factors indicate this is the case, then a quantitative test is performed and an impairment is recorded for any excess carrying value above the reporting unit's fair value, not to exceed the amount of goodwill. For the years ended January 31, 2023 and 2022, the recoverable amount of goodwill allocated to the Nevada reporting unit exceeded the carrying amount and as such, no impairment was noted. </div> <div> </div> <div> h) Impairment of long-lived assets Long-lived assets include property and equipment, right-of-use assets, and intangible assets with finite useful lives. At the end of each fiscal year, the Company reviews the intangible assets' estimated useful lives and amortization methods, with the effect of any changes in estimates accounted for on a prospective basis. Long-lived assets are reviewed for indicators of impairment at each statement of balance sheet date or whenever events or changes in circumstances indicate that a potential impairment has occurred. The Company groups assets at the lowest level for which cash flows are separately identifiable, referred to as an asset group. When indicators of potential impairment are present the Company prepares a projected undiscounted cash flow analysis to determine the recoverable amount for the respective asset or asset group. An impairment loss is recognized whenever the carrying amount of the asset exceeds its recoverable amount and is recorded as in profit or loss equal to the amount by which the carrying amount exceeds the fair value. </div> <div> i) Assets and liabilities held for sale Non-current assets, or disposal groups comprising assets and liabilities, are classified as held for sale if it is highly probable that they will be recovered primarily through sale rather than through continuing use. Such assets, or disposal groups, are measured at the lower of their carrying amount and fair value less costs to sell. The comparative consolidated balance sheet is re-presented to classify assets as held for sale in the period that the respective assets are classified as held for sale. </div> <div> k) Convertible instruments The Company accounts for convertible debt as a single unit of account, unless the conversion feature requires bifurcation and recognition as a derivative. Additionally, the Company uses the if-converted method for all convertible instruments in the diluted earnings per share calculation and includes the effect of potential share settlement for instruments that may be settled in cash or shares. </div> <div> l) Leases Upon commencement of a contract containing a lease, the Company classifies leases other than short-term leases as either an operating lease or a finance lease according to the criteria prescribed by ASU 2016-02, Leases ("ASC 842"). The lease classification is reassessed only when: (a) the contract is modified and the modification is not accounted for as a separate contract, and (b) there is a change in the lease term or the assessment of whether the lessee is reasonably certain to exercise an option to purchase the underlying asset. The Company has elected not to recognize right-of-use assets and liabilities for short-term leases that have a term of 12 months or less. For both finance leases and operating leases, right-of-use assets and lease liabilities are initially measured as the present value of future lease payments and initial direct costs discounted at the interest rate implicit in the lease, or if that rate is not readily determinable, the Company's incremental borrowing rate. Subsequent measurement of lease liabilities classified as finance leases is at amortized cost using the effective interest rate method. Subsequent measurement of right-of-use assets classified as finance leases is at carrying amount less accumulated amortization, where amortization is recorded straight-line over the lease term. Subsequent measurement of lease liabilities classified as operating leases is at the present value of the unpaid lease payments discounted at the discount rate for the lease established at the commencement date. Subsequent measurement of right-of-use assets classified as operating leases is carrying amount less accumulated amortization where amortization is calculated as the difference between straight-line lease cost for the period, including amortization of initial direct costs, and the periodic accretion of the lease liability. </div> <div> <div> m) Financial instruments Financial instruments are contracts that give rise to a financial asset of one party and a financial liability or equity instrument of another party. Financial instruments are recorded initially at fair value, which is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Subsequent measurement depends on how the financial instrument has been classified and may be at fair value or amortized cost. For financial instruments subsequently measured at fair value, the Company calculates the estimated fair value of financial instruments using quoted market prices whenever available. When quoted market prices are not available, the Company uses standard pricing models including the Black-Scholes option pricing model. </div> <div> </div> Financial instruments measured at fair value are classified into one of three levels in the fair value hierarchy according to the relative reliability of the inputs used to estimate the fair values. The three levels of the fair value hierarchy are: Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities; Level 2 - Inputs other than quoted prices that are observable for the asset or liability either directly (i.e. as prices) or indirectly (i.e. derived from prices); and Level 3 - Inputs that are not based on observable market data. There have been no transfers between fair value hierarchy levels during the years ended January 31, 2023 and 2022. The Company's measures the derivative liability at fair value using Level 3 inputs. The Company's cash, receivables, accounts payable and accrued liabilities, and income taxes payable are recorded at cost. The carrying values of these financial instruments approximate their fair value due to their short-term maturities. Unless otherwise noted, it is management's opinion that the Company is not exposed to significant interest or credit risks arising from these financial instruments. Financial instruments subsequently measured at amortized cost include promissory note payable, convertible promissory notes, and reclamation obligation. </div> <div> n) Share-based compensation The Company measures equity settled share-based payments based on their fair value at their grant date and recognizes share-based compensation expense over the vesting period based on the Company's estimate of equity instruments that will eventually vest. Consideration paid to the Company on the exercise of stock options is recorded as common stock. </div> <div> o) Income taxes The Company uses the asset and liability method to account for income taxes. Deferred income tax assets and liabilities are determined based on enacted tax rates and laws for the years in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. As the Company operates in the cannabis industry, it is subject to the limits of IRC Section 280E under which the Company is only allowed to deduct expenses directly related to the cost of producing the products or cost of production. The Company recognizes uncertain income tax positions at the largest amount that is more-likely-than-not to be sustained upon examination by the relevant taxing authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. Recognition or measurement is reflected in the period in which the likelihood changes. Any interest and penalties related to unrecognized tax liabilities are presented within income tax expense in the consolidated statements of comprehensive income. </div> <div> p) Earnings (loss) per share The Company presents basic and diluted loss per share data for its common shares. Basic loss per share is calculated using the weighted average number of shares outstanding during the respective years. Diluted loss per share is computed by dividing net loss by the weighted average shares outstanding adjusted for additional shares from the assumed exercise of stock options, restricted share units, or warrants, if dilutive. The number of additional shares is calculated by assuming the outstanding dilutive convertible instruments, options, and warrants are exercised and that the assumed proceeds are used to acquire common shares at the average market price during the year. Diluted loss per share figures for the years presented are equal to those of basic loss per share for the years since the effects of convertible instruments, stock options and warrants are anti-dilutive. </div> <div> </div> <div> q) Revenue recognition Revenue is recognized by the Company in accordance with ASC 606 - Revenue From Contracts With Customers. Through application of the standard, the Company recognizes revenue to depict the transfer of promised goods or services to the customer in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. In order to recognize revenue under ASC 606, the Company applies the following five steps: 1. Identify a customer along with a corresponding contract 2. Identify the performance obligation(s) in the contract to transfer goods or provide distinct services to a customer 3. Determine the transaction price that the Company expects to be entitled to in exchange for transferring promised goods or services to a customer 4. Allocate the transaction price to the performance obligation(s) in the contract 5. Recognize revenue when or as the Company satisfies the performance obligation(s) in the contract The Company's contracts with customers for the sale of dried cannabis and other products derived from cannabis consist of one performance obligation, being the transfer of control of the goods to the customer at the point of sale. The Company transfers control and satisfies its performance obligation when collection has taken place, compliant documentation has been signed, and the product was accepted by the buyer. The Company does not have performance obligations subsequent to delivery on the sale of goods to customers and revenues from sale of goods are recognized at a "point in time", which is upon passing of control to the customer. Provisions for expected credit losses on accounts receivable are based on the Company's assessment of the collectability of specific customer balances, which is based upon a review of the customer's creditworthiness and past collection history. For trade receivables deemed to be uncollectible, and arose from the sale of goods, the Company will write off the specific balance against the allowance for doubtful accounts when it is known that a provided amount will not be collected. The Company disaggregates its revenues based on sales to its retail customers where cash is received immediately versus wholesale customers to whom the Company extends credit terms. For the year ended January 31, 2023, revenue from retail sales from continuing operations totaled $26,713,239 (2022 - $32,351,024) and revenue from wholesale from continuing operations totaled $2,175,171 (2022 - $631,952). </div> <div> r) Loyalty program The Company offers a loyalty reward program to its dispensary customers that allows customers to earn reward credits that can be applied to future purchases. Loyalty reward credits issued as part of a sales transaction result in revenue being deferred until the loyalty reward is redeemed by the customer. The loyalty rewards are shown as reductions to the 'Revenue' line within the accompanying consolidated statements of income and comprehensive income and included as deferred revenue on the consolidated balance sheets. A portion of the revenue generated in a sale must be allocated to the loyalty points earned. The amount allocated to the points earned is deferred until the loyalty points are redeemed or expire. The loyalty program expiration policy is six months. As of January 31, 2023 and 2022, the loyalty liability totaled $94,068 and $nil, respectively, and is included in deferred revenue on the consolidated balance sheets. </div> <div> s) Reclamation obligation The Company recognizes the fair value of a legal or constructive liability for a reclamation obligation in the year in which it is incurred and when a reasonable estimate of fair value can be made. The carrying amount of the related long-lived asset is increased by the same amount as the liability. Changes in the liability for a reclamation obligation due to the passage of time will be recognized within accretion expense. The amount will be recognized as an increase in the liability and an accretion expense in the consolidated statements comprehensive income. Changes resulting from revisions to the timing or the amount of the original estimate of undiscounted cash flows are recognized as an increase or a decrease to the carrying amount of the liability and the related long-lived asset. </div> <div> t) Recently issued accounting pronouncements Recent accounting pronouncements, other than those below, issued by the Financial Accounting Standards Board, the American Institute of Certified Public Accountants and the U.S. Securities and Exchange Commission did not or are not believed by management to have a material effect on the Company's present or future financial statements. </div> </div> </div> </div>

<div> a) Significant accounting estimates and assumptions The preparation of the Company's financial statements in conformity with U.S. GAAP requires management to make judgments, estimates and assumptions that affect the reported amounts of assets, liabilities and contingent liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Estimates and assumptions are continuously evaluated and are based on management's experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from those estimates and judgments. Areas requiring a significant degree of estimation and judgment relate to the determination of recoverability of goodwill, recoverability of intangible assets, fair value less costs to sell of assets classified as held for sale, estimates used in valuation and costing of inventory, impairment of long-lived assets and inventory, fair value measurements, useful lives, depreciation and amortization of property, equipment and intangible assets, the recoverability and measurement of deferred tax assets and liabilities, share-based compensation, and fair value of derivative liabilities. </div>

<div> b) Cash Cash held in financial institutions and cash held at retail locations, have carrying values that approximate fair value. The recent closures of Silicon Valley Bank, Signature Bank and First Republic Bank and their placement into receivership with the Federal Deposit Insurance Corporation ("FDIC") have identified bank-specific liquidity risks and concerns. Although the Department of the Treasury, the Federal Reserve, and the FDIC jointly released a statement that depositors at Silicon Valley Band and Signature Bank would have access to their funds, even deposit amounts that exceed FDIC deposit insurance limits, future adverse developments with respect to specific financial institutions or the broader financial services industry may lead to market-wide liquidity shortages. The failure of any bank in which we deposit our funds could reduce the amount of cash we have available for our operations or delay our ability to access such funds. Any such failure may increase the possibility of a sustained deterioration of financial market liquidity, or illiquidity at clearing, cash management and/or custodial financial institutions. We do not currently have a commercial relationship with a bank that has failed or is, to our knowledge, otherwise is experiencing operational distress, nor have we experienced delays or other issues in meeting our financial obligations. If other banks and financial institutions enter receivership or become insolvent in the future in response to financial conditions affecting the banking system and financial markets, our ability to access our cash may be threatened and could have a material adverse effect on our business operations and financial condition. As at January 31, 2023, the Company had FDIC coverage over $697,945 (January 31, 2022 - $850,704) of its cash balance. </div>

697945 850704

<div> c) Foreign currency translation Foreign currency transactions are translated into U.S. dollars at exchange rates in effect on the date of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rate at the reporting date. All differences are recorded in the consolidated statements of income and comprehensive income. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the initial transaction. Non-monetary items measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value is determined. Assets and liabilities of foreign operations are translated into U.S. dollars at year-end exchange rates and any revenue and expenses are translated at the average exchange rate for the year. The resulting exchange differences are recognized in other comprehensive income. </div>

<div> d) Inventory Inventory consists of raw materials, consumables and packaging supplies used in the process to prepare inventory for sale; work in process consisting of pre-harvested cannabis plants, by-products to be extracted, oils and terpenes; and finished goods. Inventory is valued at the lower of cost and net realizable value, with cost determined using the weighted average cost method. Net realizable value is calculated as the estimated selling price in the ordinary course of business, less any estimated costs to complete and sell the goods. Costs are capitalized to inventory, until substantially ready for sale. Costs include direct and indirect labor, raw materials, consumables, packaging supplies, utilities, facility costs, quality and testing costs, production related depreciation and other overhead costs. The Company records inventory reserves for obsolete and slow-moving inventory. <div> Inventory reserves are based on inventory obsolescence trends, and the historical and professional experience of management. The Company classifies cannabis inventory as a current asset, although, due to the duration of the cultivation, drying, and conversion process, certain inventory items may not be realized in cost of sales within one year. </div> </div>

<div> e) Property and equipment Property and equipment is measured at cost less accumulated depreciation and losses on impairment. Depreciation is provided on the straight-line basis over the estimated useful lives of the assets as follows: <div> <div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt;"> <tr> <td style="width: 27.74%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> Buildings </td> <td style="width: 72.26%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> 45 years </td> </tr> <tr> <td style="width: 27.74%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> Furniture & fixtures </td> <td style="width: 72.26%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> 5 years </td> </tr> <tr> <td style="width: 27.74%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> Computer equipment </td> <td style="width: 72.26%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> 3 years </td> </tr> <tr> <td style="width: 27.74%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> Machinery & equipment </td> <td style="width: 72.26%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> 2-7 years </td> </tr> <tr> <td style="width: 27.74%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> Leasehold improvements </td> <td style="width: 72.26%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> shorter of the life of the improvement or the remaining life of the lease </td> </tr> </table> </div> </div> </div>

<div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt;"> <tr> <td style="width: 27.74%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> Buildings </td> <td style="width: 72.26%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> 45 years </td> </tr> <tr> <td style="width: 27.74%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> Furniture & fixtures </td> <td style="width: 72.26%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> 5 years </td> </tr> <tr> <td style="width: 27.74%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> Computer equipment </td> <td style="width: 72.26%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> 3 years </td> </tr> <tr> <td style="width: 27.74%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> Machinery & equipment </td> <td style="width: 72.26%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> 2-7 years </td> </tr> <tr> <td style="width: 27.74%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> Leasehold improvements </td> <td style="width: 72.26%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> shorter of the life of the improvement or the remaining life of the lease </td> </tr> </table> </div>

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shorter of the life of the improvement or the remaining life of the lease

<div> f) Intangible assets Intangible assets are recorded at cost less accumulated amortization and accumulated impairment losses, if any. Intangible assets acquired in a business combination are measured at fair value at the acquisition date. Intangible assets with finite useful lives are amortized on a straight-line basis over their estimated useful lives. Amortization of intangible assets begins when the asset becomes available for use. Brands, licenses, and customer relationships are amortized over 10 years, which reflect the estimated useful lives of the intangible assets. </div>

P10Y

<div> g) Goodwill Goodwill represents the excess of the purchase price paid for the acquisition of subsidiaries over the fair value of the net intangible and tangible assets acquired. Following the initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill is allocated to the reporting unit in which the business that created the goodwill resides. A reporting unit is an operating segment, or a business unit one level below that operating segment, for which discrete financial information is prepared and regularly reviewed by segment management. The Company's goodwill is part of the Nevada reporting unit. Goodwill is tested annually for any impairment, or more frequently in the case that events or circumstances indicate that the carrying amount of a reporting unit may not be recoverable. The Company may elect to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If factors indicate this is the case, then a quantitative test is performed and an impairment is recorded for any excess carrying value above the reporting unit's fair value, not to exceed the amount of goodwill. For the years ended January 31, 2023 and 2022, the recoverable amount of goodwill allocated to the Nevada reporting unit exceeded the carrying amount and as such, no impairment was noted. </div>

<div> h) Impairment of long-lived assets Long-lived assets include property and equipment, right-of-use assets, and intangible assets with finite useful lives. At the end of each fiscal year, the Company reviews the intangible assets' estimated useful lives and amortization methods, with the effect of any changes in estimates accounted for on a prospective basis. Long-lived assets are reviewed for indicators of impairment at each statement of balance sheet date or whenever events or changes in circumstances indicate that a potential impairment has occurred. The Company groups assets at the lowest level for which cash flows are separately identifiable, referred to as an asset group. When indicators of potential impairment are present the Company prepares a projected undiscounted cash flow analysis to determine the recoverable amount for the respective asset or asset group. An impairment loss is recognized whenever the carrying amount of the asset exceeds its recoverable amount and is recorded as in profit or loss equal to the amount by which the carrying amount exceeds the fair value. </div>

<div> i) Assets and liabilities held for sale Non-current assets, or disposal groups comprising assets and liabilities, are classified as held for sale if it is highly probable that they will be recovered primarily through sale rather than through continuing use. Such assets, or disposal groups, are measured at the lower of their carrying amount and fair value less costs to sell. The comparative consolidated balance sheet is re-presented to classify assets as held for sale in the period that the respective assets are classified as held for sale. </div>

<div> k) Convertible instruments The Company accounts for convertible debt as a single unit of account, unless the conversion feature requires bifurcation and recognition as a derivative. Additionally, the Company uses the if-converted method for all convertible instruments in the diluted earnings per share calculation and includes the effect of potential share settlement for instruments that may be settled in cash or shares. </div>

<div> l) Leases Upon commencement of a contract containing a lease, the Company classifies leases other than short-term leases as either an operating lease or a finance lease according to the criteria prescribed by ASU 2016-02, Leases ("ASC 842"). The lease classification is reassessed only when: (a) the contract is modified and the modification is not accounted for as a separate contract, and (b) there is a change in the lease term or the assessment of whether the lessee is reasonably certain to exercise an option to purchase the underlying asset. The Company has elected not to recognize right-of-use assets and liabilities for short-term leases that have a term of 12 months or less. For both finance leases and operating leases, right-of-use assets and lease liabilities are initially measured as the present value of future lease payments and initial direct costs discounted at the interest rate implicit in the lease, or if that rate is not readily determinable, the Company's incremental borrowing rate. Subsequent measurement of lease liabilities classified as finance leases is at amortized cost using the effective interest rate method. Subsequent measurement of right-of-use assets classified as finance leases is at carrying amount less accumulated amortization, where amortization is recorded straight-line over the lease term. Subsequent measurement of lease liabilities classified as operating leases is at the present value of the unpaid lease payments discounted at the discount rate for the lease established at the commencement date. Subsequent measurement of right-of-use assets classified as operating leases is carrying amount less accumulated amortization where amortization is calculated as the difference between straight-line lease cost for the period, including amortization of initial direct costs, and the periodic accretion of the lease liability. </div>

<div> <div> m) Financial instruments Financial instruments are contracts that give rise to a financial asset of one party and a financial liability or equity instrument of another party. Financial instruments are recorded initially at fair value, which is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Subsequent measurement depends on how the financial instrument has been classified and may be at fair value or amortized cost. For financial instruments subsequently measured at fair value, the Company calculates the estimated fair value of financial instruments using quoted market prices whenever available. When quoted market prices are not available, the Company uses standard pricing models including the Black-Scholes option pricing model. </div> <div> </div> Financial instruments measured at fair value are classified into one of three levels in the fair value hierarchy according to the relative reliability of the inputs used to estimate the fair values. The three levels of the fair value hierarchy are: Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities; Level 2 - Inputs other than quoted prices that are observable for the asset or liability either directly (i.e. as prices) or indirectly (i.e. derived from prices); and Level 3 - Inputs that are not based on observable market data. There have been no transfers between fair value hierarchy levels during the years ended January 31, 2023 and 2022. The Company's measures the derivative liability at fair value using Level 3 inputs. The Company's cash, receivables, accounts payable and accrued liabilities, and income taxes payable are recorded at cost. The carrying values of these financial instruments approximate their fair value due to their short-term maturities. Unless otherwise noted, it is management's opinion that the Company is not exposed to significant interest or credit risks arising from these financial instruments. Financial instruments subsequently measured at amortized cost include promissory note payable, convertible promissory notes, and reclamation obligation. </div>

<div> n) Share-based compensation The Company measures equity settled share-based payments based on their fair value at their grant date and recognizes share-based compensation expense over the vesting period based on the Company's estimate of equity instruments that will eventually vest. Consideration paid to the Company on the exercise of stock options is recorded as common stock. </div>

<div> o) Income taxes The Company uses the asset and liability method to account for income taxes. Deferred income tax assets and liabilities are determined based on enacted tax rates and laws for the years in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. As the Company operates in the cannabis industry, it is subject to the limits of IRC Section 280E under which the Company is only allowed to deduct expenses directly related to the cost of producing the products or cost of production. The Company recognizes uncertain income tax positions at the largest amount that is more-likely-than-not to be sustained upon examination by the relevant taxing authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. Recognition or measurement is reflected in the period in which the likelihood changes. Any interest and penalties related to unrecognized tax liabilities are presented within income tax expense in the consolidated statements of comprehensive income. </div>

<div> p) Earnings (loss) per share The Company presents basic and diluted loss per share data for its common shares. Basic loss per share is calculated using the weighted average number of shares outstanding during the respective years. Diluted loss per share is computed by dividing net loss by the weighted average shares outstanding adjusted for additional shares from the assumed exercise of stock options, restricted share units, or warrants, if dilutive. The number of additional shares is calculated by assuming the outstanding dilutive convertible instruments, options, and warrants are exercised and that the assumed proceeds are used to acquire common shares at the average market price during the year. Diluted loss per share figures for the years presented are equal to those of basic loss per share for the years since the effects of convertible instruments, stock options and warrants are anti-dilutive. </div>

<div> q) Revenue recognition Revenue is recognized by the Company in accordance with ASC 606 - Revenue From Contracts With Customers. Through application of the standard, the Company recognizes revenue to depict the transfer of promised goods or services to the customer in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. In order to recognize revenue under ASC 606, the Company applies the following five steps: 1. Identify a customer along with a corresponding contract 2. Identify the performance obligation(s) in the contract to transfer goods or provide distinct services to a customer 3. Determine the transaction price that the Company expects to be entitled to in exchange for transferring promised goods or services to a customer 4. Allocate the transaction price to the performance obligation(s) in the contract 5. Recognize revenue when or as the Company satisfies the performance obligation(s) in the contract The Company's contracts with customers for the sale of dried cannabis and other products derived from cannabis consist of one performance obligation, being the transfer of control of the goods to the customer at the point of sale. The Company transfers control and satisfies its performance obligation when collection has taken place, compliant documentation has been signed, and the product was accepted by the buyer. The Company does not have performance obligations subsequent to delivery on the sale of goods to customers and revenues from sale of goods are recognized at a "point in time", which is upon passing of control to the customer. Provisions for expected credit losses on accounts receivable are based on the Company's assessment of the collectability of specific customer balances, which is based upon a review of the customer's creditworthiness and past collection history. For trade receivables deemed to be uncollectible, and arose from the sale of goods, the Company will write off the specific balance against the allowance for doubtful accounts when it is known that a provided amount will not be collected. The Company disaggregates its revenues based on sales to its retail customers where cash is received immediately versus wholesale customers to whom the Company extends credit terms. For the year ended January 31, 2023, revenue from retail sales from continuing operations totaled $26,713,239 (2022 - $32,351,024) and revenue from wholesale from continuing operations totaled $2,175,171 (2022 - $631,952). </div>

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<div> r) Loyalty program The Company offers a loyalty reward program to its dispensary customers that allows customers to earn reward credits that can be applied to future purchases. Loyalty reward credits issued as part of a sales transaction result in revenue being deferred until the loyalty reward is redeemed by the customer. The loyalty rewards are shown as reductions to the 'Revenue' line within the accompanying consolidated statements of income and comprehensive income and included as deferred revenue on the consolidated balance sheets. A portion of the revenue generated in a sale must be allocated to the loyalty points earned. The amount allocated to the points earned is deferred until the loyalty points are redeemed or expire. The loyalty program expiration policy is six months. As of January 31, 2023 and 2022, the loyalty liability totaled $94,068 and $nil, respectively, and is included in deferred revenue on the consolidated balance sheets. </div>

94068

<div> s) Reclamation obligation The Company recognizes the fair value of a legal or constructive liability for a reclamation obligation in the year in which it is incurred and when a reasonable estimate of fair value can be made. The carrying amount of the related long-lived asset is increased by the same amount as the liability. Changes in the liability for a reclamation obligation due to the passage of time will be recognized within accretion expense. The amount will be recognized as an increase in the liability and an accretion expense in the consolidated statements comprehensive income. Changes resulting from revisions to the timing or the amount of the original estimate of undiscounted cash flows are recognized as an increase or a decrease to the carrying amount of the liability and the related long-lived asset. </div>

<div> t) Recently issued accounting pronouncements Recent accounting pronouncements, other than those below, issued by the Financial Accounting Standards Board, the American Institute of Certified Public Accountants and the U.S. Securities and Exchange Commission did not or are not believed by management to have a material effect on the Company's present or future financial statements. </div>

<div> <div> <div> 4. DISCONTINUED OPERATIONS </div> </div> <div> <div> In January 2022, the Company entered into to a lease-to-own arrangement with a lessee for certain licenses, land and equipment in Oregon, USA, representing its outdoor growing operation. The lease-to-own arrangement concludes in January 2027 with total undiscounted payments over the term amounting to $2,514,805. The Company determined that the arrangement should be accounted for as a sales-type lease and concluded that it is not probable that all required payments will be made such that title will transfer at the end of the term. As such, in accordance with ASC 842, the land and equipment have not been derecognized and payments received will be recorded as a deposit liability until such time that collectability becomes probable. As at January 31, 2023, $175,000 has been received under the arrangement and has been recorded as a deposit liability. As a result of non-profitable operations in the Oregon reporting unit, the Company began to wind down operations in Oregon beginning in the year ended January 31, 2021. At January 31, 2021, the Company classified the assets and liabilities in Swell and Megawood as held for sale and completed the sale of these assets in April 2021. By January 31, 2022, the Company made the decision to cease all growing, manufacturing, and processing activities in Bend, Oregon. As the Oregon reporting unit comprises the assets of multiple components in distinct geographic locations, management anticipates completing the sale on a piecemeal basis. Management is engaged in an active program to seek buyers for the major classes of assets and liabilities in Oregon in order to complete a sale in the next twelve months. On July 20, 2022, the Company sold the remaining Oregon inventory with a book value of $357,540 for proceeds of $357,540. During the year ended January 31, 2023, net loss from discontinued operations included impairment loss attributable to inventory in Oregon in the amount of $5,851 (2022 - $1,093,308) in order to record inventory at its net realizable value. During the year ended January 31, 2023, net loss from discontinued operations included impairment of right-of-use assets in Oregon in the amount of $183,745 (2022 - $nil) that the Company concluded had a recoverable amount of $nil. Prepaid expenses classified as held for sale primarily relates to the renewal of licenses that may be transferred in the event of a sale. Otherwise, prepaid expenses will be expensed within loss from discontinued operations over the next twelve months. For the year ended January 31, 2023, the Company recorded a provision for expected credit losses on previously recorded management fees receivable of $218,425 (2022 - $111,616). Long-term debt consists of vehicle loans and a building mortgage. The mortgage began on February 1, 2015 and matures on January 1, 2035 (20 years). The mortgage bears interest at a fixed rate of 4.5% with payments made monthly. The equipment and vehicle loans consist of three loans with maturity dates ranging from June 1, 2021 through May 15, 2023 and interest rates ranging from 5.59% to 19.9% with payments made monthly. The following table summarizes the major classes of assets and liabilities of the discontinued Oregon operation that have been classified as held-for-sale in the consolidated balance sheets: <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">January 31, 2023</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">January 31, 2022</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 10.35pt; vertical-align: bottom; text-indent: -8.95pt; background-color: #e6efff; white-space: nowrap; width: 70%;">Carrying amounts of the major classes of assets included in discontinued operations:</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; white-space: nowrap; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; white-space: nowrap; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Receivables</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">15,522</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">64,456</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Inventory</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">363,391</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Prepaid expenses and deposits</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">84,972</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">111,617</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Deferred tax asset</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">143,078</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">152,177</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Property and equipment</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,139,517</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,139,517</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%; border-bottom: 1px solid black;">Right-of-use assets</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%; border-bottom: 1px solid black;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%; border-bottom: 1px solid black;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%; border-bottom: 1px solid black;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%; border-bottom: 1px solid black;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%; border-bottom: 1px solid black;">346,987</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%; border-bottom: 1px solid black;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: justify; width: 70%; border-bottom: 1px solid black;">Total assets classified as held for sale</td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 1px solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 1px solid black;">1,383,089</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 1px solid black;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 1px solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 1px solid black;">2,178,145</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 1px solid black;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 10.35pt; vertical-align: bottom; text-indent: -8.95pt; width: 70%;">Carrying amounts of the major classes of liabilities included in discontinued operations:</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Lease liabilities</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">216,298</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">412,093</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%; border-bottom: 0.75pt solid black;">Long-term debt</td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 0.75pt solid black;">423,968</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 0.75pt solid black;">462,286</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 0.75pt solid black;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%; border-bottom: 1.5pt solid black;">Total liabilities classified as held for sale</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%; border-bottom: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%; border-bottom: 1.5pt solid black;">640,266</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%; border-bottom: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%; border-bottom: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%; border-bottom: 1.5pt solid black;">874,379</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%; border-bottom: 1.5pt solid black;"> </td> </tr> </table> <div> </div> A summary of the Company's major classes of line items constituting net loss from discontinued operations for the years ended January 31, 2023 and 2022 is as follows: <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">2023</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">2022</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Revenue</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">357,540</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,128,403</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%; border-bottom: 0.75pt solid black;">Cost of sales</td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 0.75pt solid black;">357,540</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 0.75pt solid black;">1,602,257</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 0.75pt solid black;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Gross loss</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(473,854</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Expenses (income)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Selling, general and administrative expenses</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">608,112</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">638,521</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 3.3pt; vertical-align: bottom; text-indent: -1.9pt; background-color: #e6efff; width: 70%;">Impairment loss</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">245,682</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,093,308</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 3.3pt; vertical-align: bottom; text-indent: -1.9pt; width: 70%;">Provision for expected credit losses</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">218,425</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">111,616</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 3.3pt; vertical-align: bottom; text-indent: -1.9pt; background-color: #e6efff; width: 70%;">Other income</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">6,861</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(32,231</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 3.3pt; vertical-align: bottom; text-indent: -1.9pt; width: 70%; border-bottom: 0.75pt solid black;">Net loss from discontinued operations before income taxes</td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 0.75pt solid black;">(1,079,080</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 0.75pt solid black;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 0.75pt solid black;">(2,285,068</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 0.75pt solid black;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%; border-bottom: 0.75pt solid black;">Income tax (recovery) expense</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%; border-bottom: 0.75pt solid black;">(9,249</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%; border-bottom: 0.75pt solid black;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%; border-bottom: 0.75pt solid black;">42,424</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%; border-bottom: 0.75pt solid black;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 3.3pt; vertical-align: bottom; text-indent: -1.9pt; width: 70%; border-bottom: 1.5pt solid black;">Net loss from discontinued operations after income taxes</td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 1.5pt solid black;">(1,088,329</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 1.5pt solid black;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 1.5pt solid black;">(2,242,644</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 1.5pt solid black;">)</td> </tr> </table> A summary of the Company's cash flows from discontinued operations for the years ended January 31, 2023 and 2022 is as follows: <div> <div> <div style="margin-bottom: 10pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; width: 70%; border-bottom: 0.75pt solid black; border-top: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%; border-bottom: 0.75pt solid black; border-top: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%; border-bottom: 0.75pt solid black; border-top: 1.5pt solid black;">2023</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%; border-bottom: 0.75pt solid black; border-top: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%; border-bottom: 0.75pt solid black; border-top: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%; border-bottom: 0.75pt solid black; border-top: 1.5pt solid black;">2022</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%; border-bottom: 0.75pt solid black; border-top: 1.5pt solid black;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 9.95pt; vertical-align: bottom; text-indent: -8.55pt; background-color: #e6efff; width: 70%;">Net cash used in operating activities of discontinued operations</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(71,292</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(1,602,478</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 9.95pt; vertical-align: bottom; text-indent: -8.55pt; width: 70%;">Net cash provided by investing activities of discontinued operations</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">51,357</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,168,349</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 9.95pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-indent: -8.55pt; background-color: #e6efff; width: 70%;">Net cash used in financing activities of discontinued operations</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">(58,032</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">(105,360</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;">)</td> </tr> </table> </div> </div> </div> </div> </div> </div>

2514805

175000

357540

5851 1093308 183745 0 0 218425 111616

P20Y

0.045

interest rates ranging from 5.59% to 19.9% with payments made monthly

<table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">January 31, 2023</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">January 31, 2022</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 10.35pt; vertical-align: bottom; text-indent: -8.95pt; background-color: #e6efff; white-space: nowrap; width: 70%;">Carrying amounts of the major classes of assets included in discontinued operations:</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; white-space: nowrap; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; white-space: nowrap; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Receivables</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">15,522</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">64,456</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Inventory</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">363,391</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Prepaid expenses and deposits</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">84,972</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">111,617</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Deferred tax asset</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">143,078</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">152,177</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Property and equipment</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,139,517</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,139,517</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%; border-bottom: 1px solid black;">Right-of-use assets</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%; border-bottom: 1px solid black;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%; border-bottom: 1px solid black;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%; border-bottom: 1px solid black;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%; border-bottom: 1px solid black;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%; border-bottom: 1px solid black;">346,987</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%; border-bottom: 1px solid black;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: justify; width: 70%; border-bottom: 1px solid black;">Total assets classified as held for sale</td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 1px solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 1px solid black;">1,383,089</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 1px solid black;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 1px solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 1px solid black;">2,178,145</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 1px solid black;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 10.35pt; vertical-align: bottom; text-indent: -8.95pt; width: 70%;">Carrying amounts of the major classes of liabilities included in discontinued operations:</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Lease liabilities</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">216,298</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">412,093</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%; border-bottom: 0.75pt solid black;">Long-term debt</td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 0.75pt solid black;">423,968</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 0.75pt solid black;">462,286</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 0.75pt solid black;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%; border-bottom: 1.5pt solid black;">Total liabilities classified as held for sale</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%; border-bottom: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%; border-bottom: 1.5pt solid black;">640,266</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%; border-bottom: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%; border-bottom: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%; border-bottom: 1.5pt solid black;">874,379</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%; border-bottom: 1.5pt solid black;"> </td> </tr> </table>

15522

64456

363391

84972

111617

143078

152177

1139517

0 346987

1383089

2178145

216298 412093 423968 462286

640266

874379

<table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">2023</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">2022</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Revenue</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">357,540</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,128,403</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%; border-bottom: 0.75pt solid black;">Cost of sales</td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 0.75pt solid black;">357,540</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 0.75pt solid black;">1,602,257</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 0.75pt solid black;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Gross loss</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(473,854</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Expenses (income)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Selling, general and administrative expenses</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">608,112</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">638,521</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 3.3pt; vertical-align: bottom; text-indent: -1.9pt; background-color: #e6efff; width: 70%;">Impairment loss</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">245,682</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,093,308</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 3.3pt; vertical-align: bottom; text-indent: -1.9pt; width: 70%;">Provision for expected credit losses</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">218,425</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">111,616</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 3.3pt; vertical-align: bottom; text-indent: -1.9pt; background-color: #e6efff; width: 70%;">Other income</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">6,861</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(32,231</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 3.3pt; vertical-align: bottom; text-indent: -1.9pt; width: 70%; border-bottom: 0.75pt solid black;">Net loss from discontinued operations before income taxes</td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 0.75pt solid black;">(1,079,080</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 0.75pt solid black;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 0.75pt solid black;">(2,285,068</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 0.75pt solid black;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%; border-bottom: 0.75pt solid black;">Income tax (recovery) expense</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%; border-bottom: 0.75pt solid black;">(9,249</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%; border-bottom: 0.75pt solid black;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%; border-bottom: 0.75pt solid black;">42,424</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%; border-bottom: 0.75pt solid black;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 3.3pt; vertical-align: bottom; text-indent: -1.9pt; width: 70%; border-bottom: 1.5pt solid black;">Net loss from discontinued operations after income taxes</td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 1.5pt solid black;">(1,088,329</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 1.5pt solid black;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 1.5pt solid black;">(2,242,644</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 1.5pt solid black;">)</td> </tr> </table>

357540

1128403

357540

1602257

-473854

608112

638521

245682 1093308 218425 111616 -6861 32231

-1079080

-2285068

9249

-42424

-1088329

-2242644

<div style="margin-bottom: 10pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; width: 70%; border-bottom: 0.75pt solid black; border-top: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%; border-bottom: 0.75pt solid black; border-top: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%; border-bottom: 0.75pt solid black; border-top: 1.5pt solid black;">2023</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%; border-bottom: 0.75pt solid black; border-top: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%; border-bottom: 0.75pt solid black; border-top: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%; border-bottom: 0.75pt solid black; border-top: 1.5pt solid black;">2022</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%; border-bottom: 0.75pt solid black; border-top: 1.5pt solid black;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 9.95pt; vertical-align: bottom; text-indent: -8.55pt; background-color: #e6efff; width: 70%;">Net cash used in operating activities of discontinued operations</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(71,292</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(1,602,478</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 9.95pt; vertical-align: bottom; text-indent: -8.55pt; width: 70%;">Net cash provided by investing activities of discontinued operations</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">51,357</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,168,349</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 9.95pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-indent: -8.55pt; background-color: #e6efff; width: 70%;">Net cash used in financing activities of discontinued operations</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">(58,032</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">(105,360</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;">)</td> </tr> </table> </div>

-71292

-1602478

51357

1168349

-58032

-105360

<div> <div> <div> <div> <div> 5. SECURITY DEPOSIT Non-current assets include a security deposit with the Alberta Energy Regulator ("AER") under the AER's Liability Management programs to cover potential liabilities relating to its wells. The required security deposit with the AER is determined based on a monthly licensee management rating assessment. At January 31, 2023, the security deposit had a balance of $46,871 (January 31, 2022 - $49,011). </div> </div> </div> </div> </div>

46871

49011

<div> 6. RECEIVABLES <div> <div> <div> A summary of the Company's receivables is as follows: <div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 12%;">January 31, 2023</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 12%;">January 31, 2022</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: right; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Taxes receivable</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">10,834</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">11,945</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; width: 70%;">Trade receivables</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">401,476</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">198,478</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; border-bottom: 1.5pt solid #000000; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">412,310</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">210,423</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> </table> </div> There was no provision for expected credit losses on trade receivables at January 31, 2023 or January 31, 2022. </div> </div> </div> </div>

10834 11945

401476

198478

412310

210423

<div> 7. INVENTORY <div> <div> <div> A summary of the Company's inventory is as follows: <div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 12%;"> January 31, 2023 </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 12%;"> January 31, 2022 </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: right; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Finished goods</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,556,353</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,848,392</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Work in process</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">2,494,455</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">2,029,133</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; background-color: #e6efff; width: 70%;">Raw materials</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">122,765</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">176,948</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; width: 70%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">4,173,573</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">4,054,473</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div> During the year ended January 31, 2022, cost of sales includes a provision to record inventory at net realizable value of $174,453 (January 31, 2022 - $nil). Finished goods inventory is presented net of the provision to record inventory at net realizable value. </div> </div> </div> </div>

1556353

1848392

2494455

2029133

122765

176948

4173573

4054473

174453 0

<div> <div> <div> 8. PROPERTY AND EQUIPMENT AND RIGHT-OF-USE ASSETS a) Property and equipment A summary of the Company's property and equipment is as follows: </div> </div> <div> <div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">January 31, 2023</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">January 31, 2022</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: right; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Land</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,330,000</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,330,000</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Leasehold improvements</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,775,896</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,758,229</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Furniture & fixtures</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">468,696</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">460,890</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Computer equipment</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">6,659</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">46,484</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%; border-bottom: 0.75pt solid black;">Machinery & equipment</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%; border-bottom: 0.75pt solid black;">2,450,919</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%; border-bottom: 0.75pt solid black;">2,305,217</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%; border-bottom: 0.75pt solid black;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: right; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">6,032,170</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">5,900,820</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; border-bottom: 0.75pt solid #000000; width: 70%;">Less: accumulated depreciation</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(1,347,052</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(1,031,227</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">4,685,118</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">4,869,593</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div> </div> <div> <div> Total depreciation expense for the year ended January 31, 2023 was $533,702 (2022 - $472,998). Of the total depreciation expense, $472,096 was allocated to inventory (2022 - $260,006). During the year, the Company disposed of property and equipment with a cost of $309,907 and accumulated depreciation of $217,877. At January 31, 2022, the Company reclassified buildings with a cost of $1,370,212 and accumulated depreciation of $230,695 to assets classified as held for sale. </div> </div> <div> <div> b) Right-of-use assets The Company's right-of-use assets result from its operating leases (Note 11) and consist of land and buildings used in the cultivation, processing, and warehousing of its products. At January 31, 2023, assets classified as held for sale contains right-of-use assets with a carrying value of $nil (January 31, 2022 - $346,987). Management estimated the fair value less costs to sell of right-of-use assets classified as held for sale at January 31, 2023 was $nil (January 31, 2022 - $346,987). </div> </div> </div>

<div> <div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">January 31, 2023</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">January 31, 2022</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: right; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Land</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,330,000</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,330,000</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Leasehold improvements</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,775,896</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,758,229</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Furniture & fixtures</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">468,696</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">460,890</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Computer equipment</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">6,659</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">46,484</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%; border-bottom: 0.75pt solid black;">Machinery & equipment</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%; border-bottom: 0.75pt solid black;">2,450,919</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%; border-bottom: 0.75pt solid black;">2,305,217</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%; border-bottom: 0.75pt solid black;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: right; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">6,032,170</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">5,900,820</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; border-bottom: 0.75pt solid #000000; width: 70%;">Less: accumulated depreciation</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(1,347,052</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(1,031,227</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">4,685,118</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">4,869,593</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div> </div>

1330000

1775896

1758229

468696

460890

6659

46484

2450919

2305217

6032170

5900820

1347052

1031227

4685118

4869593

533702

472998

472096 260006

309907

217877

1370212

230695

0 346987 0 346987

<div> 9. INTANGIBLE ASSETS AND GOODWILL <div> <div> a) Intangible assets A summary of the Company's intangible assets subject to amortization is as follows: <div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; margin-top: 0pt; margin-bottom: 0pt;"> January 31, 2023 </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; margin-top: 0pt; margin-bottom: 0pt;"> January 31, 2022 </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Licenses</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">12,167,021</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">12,141,476</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Brands</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">644,800</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">868,982</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; background-color: #e6efff;">Customer relationships</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">1,540,447</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">1,758,553</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 12%;">14,352,268</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 12%;">14,769,011</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; background-color: #e6efff;">Less: accumulated amortization</td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 0.75pt solid #000000; background-color: #e6efff;">(6,465,443</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 0.75pt solid #000000; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 0.75pt solid #000000; background-color: #e6efff;">(5,544,846</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 0.75pt solid #000000; background-color: #e6efff;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">7,886,825</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">9,224,165</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div> During the year ended January 31, 2023, the Company recognized amortization expense on intangible assets of $1,337,336 (2022 - $1,370,286). During the year ended January 31, 2022, the Company recognized impairment charges of $363,510 on customer relationships allocated to the Oregon reporting unit (Note 4). The estimated aggregate amortization expense for each of the five succeeding years is as follows: <div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-top: 1.5pt solid #000000;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">January 31, 2024</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">1,337,336</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">January 31, 2025</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,337,336</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">January 31, 2026</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">1,337,336</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">January 31, 2027</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,337,336</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">January 31, 2028</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">1,325,336</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Thereafter</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,212,145</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">7,886,825</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> </div> b) Goodwill As at January 31, 2023 and 2022, the Company had goodwill of $28,541,323 and $28,541,323, respectively, which was allocated to the Nevada reporting unit. There was no impairment on goodwill identified in either year. </div> </div> </div>

12167021

12141476

644800 868982

1540447

1758553

14352268

14769011

6465443

5544846

7886825

9224165

1337336

1370286

363510

<div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-top: 1.5pt solid #000000;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">January 31, 2024</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">1,337,336</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">January 31, 2025</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,337,336</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">January 31, 2026</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">1,337,336</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">January 31, 2027</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,337,336</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">January 31, 2028</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">1,325,336</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Thereafter</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,212,145</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">7,886,825</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> </div>

1337336

1325336

1212145

7886825

28541323

<div> 10. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES <div> <div> <div> A summary of the Company's accounts payable and accrued liabilities is as follows: <div> <div> <div> <div> <div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">January 31, 2023</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">January 31, 2022</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: right; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Accounts payable</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,842,089</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,402,546</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Accrued liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">450,485</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">428,414</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">EFF settlement accrual (Note 20)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">612,500</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">612,500</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; width: 70%;">Interest payable</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">16,352</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">65,409</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff; width: 70%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">2,921,426</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">2,508,869</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> </div> </div>

<div> <div> <div> <div> <div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">January 31, 2023</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">January 31, 2022</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: right; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Accounts payable</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,842,089</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,402,546</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Accrued liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">450,485</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">428,414</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">EFF settlement accrual (Note 20)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">612,500</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">612,500</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; width: 70%;">Interest payable</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">16,352</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">65,409</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff; width: 70%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">2,921,426</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">2,508,869</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> </table> </div> </div> </div> </div> </div>

1842089

1402546

450485

428414

612500

16352

65409

2921426

2508869

<div> <div> <div> 11. LEASES The Company's leases consist of land and buildings used in the cultivation, processing, and warehousing of its products. All leases were classified as operating leases in accordance with ASC 842. A summary of the Company's active leases and total lease term under contract as at January 31, 2023 is as follows: </div> </div> <div> <div> <div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; width: 40%;">Entity Name/Lessee</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; width: 20%;">Asset</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; width: 20%;">Lease term</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; width: 20%;">Type</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; background-color: #e6efff; width: 40%;">Silver State Cultivation LLC</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: center; background-color: #e6efff; width: 20%;">Land/ Building</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: center; background-color: #e6efff; width: 20%;"> 12 </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: center; background-color: #e6efff; width: 20%;">Operating lease</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; width: 40%;">Silver State Relief LLC (Sparks)</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: center; width: 20%;">Land/ Building</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: center; width: 20%;"> 12 </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: center; width: 20%;">Operating lease</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; background-color: #e6efff; width: 40%;">Silver State Relief LLC (Fernley)</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: center; background-color: #e6efff; width: 20%;">Land/ Building</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: center; background-color: #e6efff; width: 20%;"> 12 </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: center; background-color: #e6efff; width: 20%;">Operating lease</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; width: 40%;">Phantom Distribution, LLC</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: center; width: 20%;">Land/ Building</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: center; width: 20%;"> 5 </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: center; width: 20%;">Operating lease</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; background-color: #e6efff; width: 40%;">63353 Bend, LLC</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: center; background-color: #e6efff; width: 20%;">Land/ Building</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: center; background-color: #e6efff; width: 20%;"> 5 </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: center; background-color: #e6efff; width: 20%;">Operating lease</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid black; width: 40%;">20727-4 Bend, LLC</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-bottom: 1.5pt solid black; text-align: center; width: 20%;">Land/ Building</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-bottom: 1.5pt solid black; text-align: center; width: 20%;"> 5 </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-bottom: 1.5pt solid black; text-align: center; width: 20%;">Operating lease</td> </tr> </table> </div> </div> </div> <div> <div> For the year ended January 31, 2023, the Company incurred operating lease costs in continuing operations of $1,403,743, (2022 - $1,403,743). Of this amount, $812,368 (2022 - $812,368) was allocated to inventory. </div> </div> A summary of the Company's weighted average discount rate used in calculating lease liabilities and weighted average remaining lease term is as follows: <div> <div> <div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">January 31, 2023</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">January 31, 2022</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Weighted average discount rate</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">10%</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">10%</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 1.5pt solid black; width: 70%;">Weighted average remaining lease term (years)</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid black; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid black; text-align: right; width: 12%;"> 9.63 </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid black; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid black; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid black; text-align: right; width: 12%;"> 10.46 </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid black; text-align: left; width: 2%;"> </td> </tr> </table> </div> </div> A summary of the maturity of contractual undiscounted liabilities associated with the Company's operating leases as of January 31, 2023 is as follows: </div> </div> <div> <div> <div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom; width: 82%;">Year ending January, </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 82%;">2024</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="background-color: #e6efff; width: 15%; text-align: right;">1,276,262</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 82%;">2025</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,314,551</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 82%;">2026</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 15%;">1,353,987</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 82%;">2027</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,394,607</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 82%;">2028</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 15%;">1,436,445</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; width: 82%;">Thereafter</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">7,712,494</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 82%;">Total undiscounted lease liabilities</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 15%;">14,488,346</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; width: 82%;">Interest on lease liabilities</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">(5,534,921</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 82%;">Total present value of minimum lease payments</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 15%;">8,953,425</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; width: 82%;">Current portion of lease liability</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">398,723</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; border-bottom: 1.5pt solid #000000; width: 82%;">Lease liability</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 15%;">8,554,702</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> </table> </div> </div> </div> <div> <div> As at January 31, 2023, liabilities classified as held for sale include lease liabilities of $216,298 (2022 - $412,093) and pertain to the operating leases in Phantom Distribution, LLC, 63353 Bend, LLC and 20727-4 Bend, LLC. As at January 31, 2023, the Company has total undiscounted lease liabilities of $14,488,346 pertaining to lease liabilities in continuing operations and total undiscounted lease liabilities of $228,192 which are classified as held for sale and pertain to the operating leases in Phantom Distribution, LLC, 63353 Bend, LLC and 20727-4 Bend, LLC. </div> </div>

<div> <div> <div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; width: 40%;">Entity Name/Lessee</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; width: 20%;">Asset</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; width: 20%;">Lease term</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: center; width: 20%;">Type</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; background-color: #e6efff; width: 40%;">Silver State Cultivation LLC</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: center; background-color: #e6efff; width: 20%;">Land/ Building</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: center; background-color: #e6efff; width: 20%;"> 12 </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: center; background-color: #e6efff; width: 20%;">Operating lease</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; width: 40%;">Silver State Relief LLC (Sparks)</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: center; width: 20%;">Land/ Building</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: center; width: 20%;"> 12 </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: center; width: 20%;">Operating lease</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; background-color: #e6efff; width: 40%;">Silver State Relief LLC (Fernley)</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: center; background-color: #e6efff; width: 20%;">Land/ Building</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: center; background-color: #e6efff; width: 20%;"> 12 </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: center; background-color: #e6efff; width: 20%;">Operating lease</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; width: 40%;">Phantom Distribution, LLC</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: center; width: 20%;">Land/ Building</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: center; width: 20%;"> 5 </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: center; width: 20%;">Operating lease</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; background-color: #e6efff; width: 40%;">63353 Bend, LLC</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: center; background-color: #e6efff; width: 20%;">Land/ Building</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: center; background-color: #e6efff; width: 20%;"> 5 </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: center; background-color: #e6efff; width: 20%;">Operating lease</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid black; width: 40%;">20727-4 Bend, LLC</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-bottom: 1.5pt solid black; text-align: center; width: 20%;">Land/ Building</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-bottom: 1.5pt solid black; text-align: center; width: 20%;"> 5 </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-bottom: 1.5pt solid black; text-align: center; width: 20%;">Operating lease</td> </tr> </table> </div> </div> </div>

P12Y

P5Y

1403743

812368 812368 <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">January 31, 2023</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">January 31, 2022</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Weighted average discount rate</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">10%</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">10%</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 1.5pt solid black; width: 70%;">Weighted average remaining lease term (years)</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid black; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid black; text-align: right; width: 12%;"> 9.63 </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid black; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid black; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid black; text-align: right; width: 12%;"> 10.46 </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid black; text-align: left; width: 2%;"> </td> </tr> </table>

0.10

P9Y7M17D

P10Y5M15D

<div> <div> <div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom; width: 82%;">Year ending January, </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 82%;">2024</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="background-color: #e6efff; width: 15%; text-align: right;">1,276,262</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 82%;">2025</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,314,551</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 82%;">2026</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 15%;">1,353,987</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 82%;">2027</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,394,607</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 82%;">2028</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 15%;">1,436,445</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; width: 82%;">Thereafter</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">7,712,494</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 82%;">Total undiscounted lease liabilities</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 15%;">14,488,346</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; width: 82%;">Interest on lease liabilities</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">(5,534,921</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 82%;">Total present value of minimum lease payments</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 15%;">8,953,425</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; width: 82%;">Current portion of lease liability</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">398,723</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; border-bottom: 1.5pt solid #000000; width: 82%;">Lease liability</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 15%;">8,554,702</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> </table> </div> </div> </div>

1276262

1314551

1353987

1394607

1436445

7712494

14488346

5534921

8953425

398723

8554702

216298 412093 14488346 228192

<div> <div> <div> 12. PROMISSORY NOTES </div> </div> <div> <div> Transaction costs related to the issuance of convertible promissory notes are apportioned to their respective financial liability and equity components (if applicable) in proportion to the allocation of proceeds as a reduction to the carrying amount of each component. When valuing the financial liability component of the promissory notes, the Company used specific interest rates assuming no conversion features existed. The resulting liability component is accreted to its face value over the convertible note's term until its maturity date. <div> </div> a) Convertible promissory notes A summary of the Company's convertible promissory notes denominated in U.S. dollars is as follows: <div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; border-top: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap; width: 55%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 12%;"> June 13, 2018 issuance </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 12%;"> May 24, 2019 issuance </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 12%;">Total</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; width: 55%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 55%;">Balance, January 31, 2021</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,072,590</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,130,056</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">2,202,646</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 55%;">Payment</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(1,210,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(1,210,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 55%;">Interest expense</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">17,649</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">40,685</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">58,334</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; width: 55%;">Accretion expense</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">191,203</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">39,259</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">230,462</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 55%;">Balance, January 31, 2022</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,281,442</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,281,442</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 55%;">Payment</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(41,600</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(41,600</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 55%;">Interest expense</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,600</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,600</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; width: 55%;">Loss on foreign exchange translation</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">(85,183</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">(85,183</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff; width: 55%;">Balance, January 31, 2023</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">1,156,259</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">1,156,259</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> </table> </div> On August 19, 2022, the Company repaid $41,600 comprised of $40,000 of principal and $1,600 of interest related to the June 13, 2018 issuance of convertible promissory notes. On June 13, 2018, the Company issued convertible promissory notes to the vendors that sold Eco Firma Farms, LLC ("EFF") to the Company in the aggregate principal amount of $2,000,000. The convertible promissory notes were convertible at $1.00 per share. The convertible promissory notes accrue interest at a rate of 4% per annum, compounded annually, and were fully due and payable on June 13, 2021. The Company is in an ongoing dispute with the vendors over repayment (Note 20). On issuance, the Company determined the conversion feature was a derivative liability as the convertible promissory notes were exercisable in USD while the functional currency of the Company is Canadian dollars. The conversion feature expired on June 13, 2021 and as such the fair value of the conversion feature as at January 31, 2023 was $nil (January 31, 2022 - $nil). On May 24, 2019, the Company issued a two-year unsecured convertible promissory note to a debtor of Swell Companies in the principal amount of $1,000,000. The convertible note accrues interest at 10% per annum compounded annually and payable at maturity. The note is convertible into common shares of the Company at a conversion price of $1.56 per share and may be converted at the maturity date. On issuance, the Company determined the conversion feature was a derivative liability as the convertible promissory notes are exercisable in USD while the functional currency of the Company is Canadian dollars. On May 24, 2021 the note was fully repaid. b) Promissory note payable A summary of the Company's promissory note payable denominated in USD is as follows: <div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap; width: 85%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 85%;">Balance, January 31, 2021</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">14,186,667</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; width: 85%;">Repayments</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(6,080,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 85%;">Balance, January 31, 2022</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">8,106,667</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; width: 85%;">Repayments</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">(6,080,000</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff; width: 85%;">Balance, January 31, 2023</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">2,026,667</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 85%;">Current portion</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">2,026,667</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff; width: 85%;">Non-current portion</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> </table> </div> On January 1, 2019, the Company issued a promissory note to Mr. Newman, who sold Silver State to the Company in the principal amount of $30,000,000. The promissory note is payable in the following principal instalments: $3,000,000 on April 1, 2019, $6,000,000 on each of July 1, 2019, October 1, 2019, January 1, 2020, and April 1, 2020, and $3,000,000 on July 1, 2020. The promissory note accrues interest at a rate of 10% per annum. The promissory note is secured by all of the outstanding membership interests, and a security interest in all of the assets, of Silver State. On July 1, 2019, the terms of the promissory note payable for the acquisition of Silver State were amended to call for immediate payment of $2,000,000 plus accrued interest on July 1, 2019 followed by payments of $800,000 plus accrued interest on the first of each of August, September, October, November, and December 2019. <div> </div> Effective November 21, 2019 and June 25, 2020, Mr. Newman and the Company agreed to further amend the terms of the promissory note due to Mr. Newman. The December 1, 2019 principal payment of $800,000 was cancelled and the monthly principal payments thereafter were reduced to $600,000 per month. Further, the annual interest rate on the note was reduced from 10% to 9.5%. The remaining balance on the promissory note is due and payable on January 1, 2021. This modification resulted in a gain of $nil. On November 19, 2020, the Company announced an agreement with Mr. Newman that the remaining $15,200,000 principal outstanding on his promissory note, due to mature on January 1, 2021, was amended with lower monthly payments amortized over a 30-month period. Commencing December 1, 2020, the monthly payments are $506,667 plus interest. The interest rate at 9.5% was unchanged. For the year ended January 31, 2023, interest expense was $455,091 (2022 - $1,032,691). Interest paid during the year ended January 31, 2023 was $504,147 (2022 - $1,082,500). </div> </div> </div>

<div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; border-top: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap; width: 55%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 12%;"> June 13, 2018 issuance </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 12%;"> May 24, 2019 issuance </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 12%;">Total</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; width: 55%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 55%;">Balance, January 31, 2021</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,072,590</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,130,056</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">2,202,646</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 55%;">Payment</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(1,210,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(1,210,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 55%;">Interest expense</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">17,649</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">40,685</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">58,334</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; width: 55%;">Accretion expense</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">191,203</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">39,259</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">230,462</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 55%;">Balance, January 31, 2022</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,281,442</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,281,442</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 55%;">Payment</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(41,600</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(41,600</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 55%;">Interest expense</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,600</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,600</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; width: 55%;">Loss on foreign exchange translation</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">(85,183</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">(85,183</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff; width: 55%;">Balance, January 31, 2023</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">1,156,259</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">1,156,259</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> </table> </div>

1072590

1130056

2202646

1210000

17649

40685

58334

191203

39259

230462

1281442

41600

1600

85183

1156259

41600

40000

1600

2000000

0.04

1000000

0.10

1.56

<div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap; width: 85%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 85%;">Balance, January 31, 2021</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">14,186,667</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; width: 85%;">Repayments</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(6,080,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 85%;">Balance, January 31, 2022</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">8,106,667</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; width: 85%;">Repayments</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">(6,080,000</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff; width: 85%;">Balance, January 31, 2023</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">2,026,667</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 85%;">Current portion</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">2,026,667</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff; width: 85%;">Non-current portion</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> </table> </div>

14186667

6080000

8106667

6080000

2026667

30000000

3000000

6000000

3000000

0.10

2000000

800000

600000

0.10

0.095

15200000

506667

0.095

455091

1032691

504147 1082500

<div> 13. DERIVATIVE LIABILITY A summary of the Company's derivative liabilities is as follows: <div> <div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; white-space: nowrap; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; width: 55%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 12%;">Conversion feature of convertible promissory notes</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 12%;">Earn out shares</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 12%;">Total</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 55%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 55%;">Balance, January 31, 2021</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">485,157</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">9,273,970</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">9,759,127</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 55%;">Fair value adjustment on derivative liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(485,157</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(8,091,133</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(8,576,290</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 55%;">Settlement of Phantom earn out</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(677,939</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(677,939</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; width: 55%;">Effect of foreign exchange</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">501,470</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">501,470</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 55%;">Balance, January 31, 2022</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,006,368</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,006,368</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 55%;">Fair value adjustment on derivative liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(742,483</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(742,483</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; border-bottom: 0.75pt solid #000000; width: 55%;">Effect of foreign exchange</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">(24,185</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">(24,185</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; width: 55%;">Balance, January 31, 2023</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">239,700</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">239,700</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div> </div> <div> <div> Upon the February 4, 2019 acquisition of Phantom Farms, the vendors can earn up to 4,500,000 'earn out' shares over a period of seven years. The conditions were based on the Company's common shares exceeding certain share prices during the period. The fair value of the derivative liability is derived using a Monte Carlo simulation. On January 24, 2022, the Company issued 1,300,000 common shares for full settlement of the Phantom earn out shares. Upon the May 24, 2019 acquisition of Swell Companies, the vendors can earn up to 6,000,000 'earn out' shares over a period of seven years. The conditions were based on the Company's common shares exceeding certain share prices during the period. Additionally, the 50% of the earn out shares are earned upon a change of control of the Company. The fair value of the derivative liability is derived using a Monte Carlo simulation. A summary of the Company's significant inputs into the Monte Carlo simulation used to determine the fair value of earn out shares is as follows: </div> </div> <div> <div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; width: 69%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; width: 2%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; width: 12%;"> January 31, 2023 </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; width: 2%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; width: 1%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; width: 12%;"> January 31, 2022 </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="background-color: #e6efff; height: 15px; margin-top: 0pt; margin-bottom: 0pt; width: 69%;">Discount rate</td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; width: 2%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; text-align: right; width: 12%;">4.43%</td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; width: 2%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; width: 1%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; width: 12%;"> 1.24% </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; width: 69%;">Expected life in years</td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; width: 2%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; width: 12%;"> 3.31 </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; width: 2%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; width: 1%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; text-align: right; width: 12%;">4.33</td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; width: 2%;"> </td> </tr> <tr> <td style="background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt; width: 69%;">Expected stock volatility</td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; width: 2%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; width: 12%;"> 80% </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; width: 2%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; width: 1%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; text-align: right; width: 12%;">80%</td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; margin-top: 0pt; margin-bottom: 0pt; width: 69%;">Expected volatility of foreign exchange</td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; width: 2%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; width: 12%;"> 6.40% </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; width: 2%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; width: 1%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">6.52%</td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; width: 2%;"> </td> </tr> </table> </div> </div> <div> <div style="margin-top: 10pt; margin-bottom: 10pt;">The conversion feature of the June 13, 2018 and May 24, 2019 convertible promissory notes expired on June 13, 2021 and May 24, 2021, respectively. As such, the fair value of each at January 31, 2023 and 2022 was $nil and $nil, respectively.</div> </div> </div>

<div> <div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; white-space: nowrap; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; width: 55%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 12%;">Conversion feature of convertible promissory notes</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 12%;">Earn out shares</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 12%;">Total</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 55%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 55%;">Balance, January 31, 2021</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">485,157</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">9,273,970</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">9,759,127</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 55%;">Fair value adjustment on derivative liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(485,157</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(8,091,133</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(8,576,290</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 55%;">Settlement of Phantom earn out</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(677,939</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(677,939</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; width: 55%;">Effect of foreign exchange</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">501,470</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">501,470</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 55%;">Balance, January 31, 2022</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,006,368</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,006,368</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 55%;">Fair value adjustment on derivative liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(742,483</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(742,483</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; border-bottom: 0.75pt solid #000000; width: 55%;">Effect of foreign exchange</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">(24,185</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">(24,185</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; width: 55%;">Balance, January 31, 2023</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">239,700</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">239,700</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div> </div>

485157

9273970

9759127

-485157 -8091133 -8576290 0 677939 677939 0 501470 501470

1006368

0 -742483 -742483 0 -24185 -24185

239700

4500000 1300000 6000000 0.50

<div> <div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; width: 69%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; width: 2%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; width: 12%;"> January 31, 2023 </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; width: 2%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; width: 1%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; width: 12%;"> January 31, 2022 </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="background-color: #e6efff; height: 15px; margin-top: 0pt; margin-bottom: 0pt; width: 69%;">Discount rate</td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; width: 2%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; text-align: right; width: 12%;">4.43%</td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; width: 2%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; width: 1%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; width: 12%;"> 1.24% </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; width: 69%;">Expected life in years</td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; width: 2%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; width: 12%;"> 3.31 </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; width: 2%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; width: 1%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; text-align: right; width: 12%;">4.33</td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; width: 2%;"> </td> </tr> <tr> <td style="background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt; width: 69%;">Expected stock volatility</td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; width: 2%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; width: 12%;"> 80% </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; width: 2%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; width: 1%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; text-align: right; width: 12%;">80%</td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; margin-top: 0pt; margin-bottom: 0pt; width: 69%;">Expected volatility of foreign exchange</td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; width: 2%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; width: 12%;"> 6.40% </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; width: 2%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; width: 1%;"> </td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">6.52%</td> <td style="padding-right: 2.85pt; padding-left: 1.4pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; width: 2%;"> </td> </tr> </table> </div> </div>

4.43

1.24

3.31

4.33

6.4

6.52

<div> 14. SHARE CAPITAL <div> <div> Share capital consists of one class of fully paid common shares, with no par value. The Company is authorized to issue an unlimited number of common shares. All shares are equally eligible to receive dividends and repayment of capital and represent one vote at the Company's shareholders' meetings. A summary of the Company's share capital is as follows: <div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; border-top: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 12%;"> Number of shares </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 12%;"> Common stock </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">#</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Balance, January 31, 2021</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">117,057,860</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">103,636,830</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Shares issued - Phantom Farm warrants exercises (1)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">456,100</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">533,326</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Shares issued - EFF commitment (2)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">19,774</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">21,787</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Shares issued - Guaranteed warrants (3)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,214,080</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Shares issued - Settlement of Earn out shares (4)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,300,000</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">677,939</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%; border-bottom: 0.75pt solid black;">Share-based compensation</td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 0.75pt solid black;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 0.75pt solid black;">366,469</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 0.75pt solid black;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Balance, January 31, 2022</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">120,047,814</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">105,236,351</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid black; vertical-align: bottom; width: 70%;">Share-based compensation</td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 0.75pt solid black;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 0.75pt solid black;">209,441</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 0.75pt solid black;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%; border-bottom: 1.5pt solid black;">Balance, January 31, 2023</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%; border-bottom: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%; border-bottom: 1.5pt solid black;">120,047,814</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%; border-bottom: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%; border-bottom: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%; border-bottom: 1.5pt solid black;">105,445,792</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%; border-bottom: 1.5pt solid black;"> </td> </tr> </table> </div> (1) On February 4, 2021 the Company issued 456,100 shares upon the exercise of Phantom Farm warrants. (2) On April 5, 2021, the Company issued 19,774 common shares to the vendors of EFF for a partial settlement of the Company's commitment to issue shares. (3) On June 17, 2021, the Company issued 1,214,080 common shares pursuant to the cashless exercise of 4,160,000 warrants. (4) On January 24, 2022, the Company issued 1,300,000 common shares for the settlement of Phantom earn out shares. a) Commitment to issue shares In connection with the acquisition of EFF on June 13, 2018, the Company issued a promissory note payable to deliver 1,977,500 shares to the vendors of EFF in the amount of $1,905,635, without interest, any time after October 15, 2018. As at January 31, 2023 shares issued pursuant to this commitment total 1,184,407 shares. b) Warrants A summary of the Company's warrant activity is as follows: <div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 55%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 12%;"> Warrants outstanding </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 12%;"> Weighted average exercise price </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 12%;"> Weighted average remaining life </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: justify; white-space: nowrap; width: 55%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">#</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">C$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">Years</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff; width: 55%;">Balance January 31, 2021</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">11,894,746</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1.32</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> 1.96 </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: justify; width: 55%;">Exercised</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(4,616,100</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1.05</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff; width: 55%;">Expired</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(4,038,646</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1.73</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify; width: 55%;">Balance, January 31, 2022</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 12%;">3,240,000</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 12%;">1.18</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 12%;"> 2.10 </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: justify; background-color: #e6efff; width: 55%;">Balance, January 31, 2023</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">3,240,000</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">1.18</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;"> 1.10 </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> </table> </div> A summary of the Company's outstanding and exercisable warrants at January 31, 2023, is as follows: <div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap; width: 70%;">Expiry date</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 12%;">Exercise price </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 12%;"> Number of warrants </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">C$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">#</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">December 31, 2023</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1.00</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">632,400</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">January 30, 2024</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1.00</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,407,600</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%; border-bottom: 0.75pt solid black;">May 24, 2024</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%; border-bottom: 0.75pt solid black;">1.50</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%; border-bottom: 0.75pt solid black;">1,200,000</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%; border-bottom: 0.75pt solid black;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: justify; width: 70%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">3,240,000</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div> As at January 31, 2023 and 2022, outstanding and exercisable warrants had intrinsic values of $nil and $nil, respectively. <div> <div> </div> </div> On February 4, 2021, 456,100 warrants with an exercise price of $1.17 (C$1.50) were exercised to purchase 456,100 common shares of the Company for proceeds of $533,326. Of the warrants exercised, 426,100 were exercised by a Director of the Company. On the same date, 1,243,900 warrants expired unexercised. On June 17, 2021, 4,160,000 warrants were exercised on a cashless basis for 1,214,080 common shares of the Company. c) Stock options The Company is authorized to grant options to executive officers and directors, employees, and consultants, enabling them to acquire up to 10% of the issued and outstanding common shares of the Company. The exercise price of each option equals the market price of the Company's shares as calculated on the date of grant. The options can be granted for a maximum term of 10 years. Vesting is determined by the Board of Directors. A summary of the Company's stock option activity is as follows: <div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; border-top: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap; width: 55%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 12%;"> Options outstanding and exercisable </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 12%;"> Weighted average exercise price </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 12%;"> Weighted average remaining life </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; width: 55%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">#</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">C$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">Years</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff; width: 55%;">Balance January 31, 2021</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">6,965,000</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1.22</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> 2.05 </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: justify; width: 55%;">Expired</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(1,350,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">2.80</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify; background-color: #e6efff; width: 55%;">Balance, January 31, 2022</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">5,615,000</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">0.84</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;"> 1.45 </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: justify; width: 55%;">Granted</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">600,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">0.70</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify; background-color: #e6efff; width: 55%;">Expired</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">(1,405,000</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">1.25</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: justify; width: 55%;">Balance, January 31, 2023</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">4,810,000</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">0.75</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;"> 0.86 </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div> A summary of the Company's stock options outstanding and exercisable at January 31, 2023, is as follows: <div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap; width: 55%;">Expiry date</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">Exercise price</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">Outstanding</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">Exercisable</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; width: 55%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">C$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">#</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">#</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 55%;">August 17, 2023</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">0.70</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">3,560,000</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">3,560,000</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 55%;">January 28, 2024</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1.50</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">150,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">150,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 55%;">October 9, 2024</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1.00</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">500,000</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">500,000</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 55%;">February 10, 2025</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">0.70</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">600,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">199,998</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: justify; background-color: #e6efff; width: 55%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">4,810,000</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">4,409,998</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> </table> </div> As at January 31, 2023 and 2022, outstanding and exercisable stock options had intrinsic values of $nil and $nil, respectively. During the year ended January 31, 2023, the Company recorded a share-based compensation expense of $209,441 (2022 - $366,469). A summary of the Company's assumptions used in the Black-Scholes option pricing model for stock options granted during the years ended January 31, 2023 and 2022, is as follows: <div style="margin-bottom: 10pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; border-top: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">2023</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">2022</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Stock price</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">C$0.61</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Exercise price</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">C$0.70</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Risk-free rate</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1.60%</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Expected life of options</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> 3 years </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Annualized volatility</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">80%</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; width: 70%;">Dividend rate</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">0%</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div> <div> <div> </div> </div> The Company has computed the fair value of options granted using the Black-Scholes option pricing model. The expected term used for options issued to non-employees is the contractual life and the expected term used for options issued to employees and directors is the estimated period of time that options granted are expected to be outstanding. The Company utilizes the "simplified" method to develop an estimate of the expected term of "plain vanilla" employee option grants. The Company is utilizing an expected volatility figure based on a review of the historical volatilities, over a period of time, equivalent to the expected life of the instrument being valued, of similarly positioned public companies within its industry. The risk-free interest rate was determined from the implied yields from U.S. Treasury zero-coupon bonds with a remaining term consistent with the expected term of the instrument being valued. </div> </div> </div>

<div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; border-top: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 12%;"> Number of shares </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 12%;"> Common stock </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">#</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Balance, January 31, 2021</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">117,057,860</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">103,636,830</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Shares issued - Phantom Farm warrants exercises (1)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">456,100</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">533,326</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Shares issued - EFF commitment (2)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">19,774</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">21,787</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Shares issued - Guaranteed warrants (3)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,214,080</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Shares issued - Settlement of Earn out shares (4)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,300,000</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">677,939</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%; border-bottom: 0.75pt solid black;">Share-based compensation</td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 0.75pt solid black;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 0.75pt solid black;">366,469</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 0.75pt solid black;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Balance, January 31, 2022</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">120,047,814</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">105,236,351</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid black; vertical-align: bottom; width: 70%;">Share-based compensation</td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 0.75pt solid black;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 0.75pt solid black;">209,441</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 0.75pt solid black;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%; border-bottom: 1.5pt solid black;">Balance, January 31, 2023</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%; border-bottom: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%; border-bottom: 1.5pt solid black;">120,047,814</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%; border-bottom: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%; border-bottom: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%; border-bottom: 1.5pt solid black;">105,445,792</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%; border-bottom: 1.5pt solid black;"> </td> </tr> </table> </div>

117057860

103636830

456100 533326 19774 21787 1214080 0 1300000 677939

366469

120047814

105236351

209441

120047814

105445792

456100 19774 1214080 4160000 1300000 1977500

1905635

1184407

11894746

1.32

P1Y11M15D 4616100 1.05 4038646 1.73

3240000

1.18

P2Y1M6D

3240000

1.18

P1Y1M6D <div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap; width: 70%;">Expiry date</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 12%;">Exercise price </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 12%;"> Number of warrants </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">C$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">#</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">December 31, 2023</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1.00</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">632,400</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">January 30, 2024</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1.00</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,407,600</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%; border-bottom: 0.75pt solid black;">May 24, 2024</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%; border-bottom: 0.75pt solid black;">1.50</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%; border-bottom: 0.75pt solid black;">1,200,000</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%; border-bottom: 0.75pt solid black;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: justify; width: 70%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">3,240,000</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div>

632400

1407600

1.5

1200000

3240000

0 0 456100 1.17 1.5

456100

533326

426100 1243900 4160000

1214080

P10Y

<div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; border-top: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap; width: 55%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 12%;"> Options outstanding and exercisable </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 12%;"> Weighted average exercise price </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 12%;"> Weighted average remaining life </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; width: 55%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">#</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">C$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">Years</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff; width: 55%;">Balance January 31, 2021</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">6,965,000</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1.22</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> 2.05 </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: justify; width: 55%;">Expired</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(1,350,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">2.80</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify; background-color: #e6efff; width: 55%;">Balance, January 31, 2022</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">5,615,000</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">0.84</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;"> 1.45 </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: justify; width: 55%;">Granted</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">600,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">0.70</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify; background-color: #e6efff; width: 55%;">Expired</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">(1,405,000</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">1.25</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: justify; width: 55%;">Balance, January 31, 2023</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">4,810,000</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">0.75</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;"> 0.86 </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div>

6965000

1.22

P2Y18D

1350000

2.8

5615000

0.84

P1Y5M12D

600000

0.7

1405000

1.25

4810000

0.75

P0Y10M9D

<div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap; width: 55%;">Expiry date</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">Exercise price</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">Outstanding</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">Exercisable</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; width: 55%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">C$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">#</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">#</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 55%;">August 17, 2023</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">0.70</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">3,560,000</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">3,560,000</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 55%;">January 28, 2024</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1.50</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">150,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">150,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 55%;">October 9, 2024</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1.00</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">500,000</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">500,000</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 55%;">February 10, 2025</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">0.70</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">600,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">199,998</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: justify; background-color: #e6efff; width: 55%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">4,810,000</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">4,409,998</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> </table> </div>

0.7

3560000

1.5

150000

500000

0.7

600000

199998

4810000

4409998

0 0

209441

366469

<div style="margin-bottom: 10pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; border-top: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">2023</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">2022</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Stock price</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">C$0.61</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Exercise price</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">C$0.70</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Risk-free rate</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1.60%</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Expected life of options</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> 3 years </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Annualized volatility</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">80%</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; width: 70%;">Dividend rate</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">0%</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div>

0.61

0.7

0.016

P3Y

0.80

<div> 15. SELLING, GENERAL AND ADMINISTRATIVE EXPENSES A summary of the Company's selling, general and administration expenses for the years ended January 31, 2023 and 2022, is as follows: <div> <div> <div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">2023</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">2022</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Accounting and legal</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">716,349</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">665,248</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Depreciation and amortization</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,365,018</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,280,446</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">License fees, taxes and insurance</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,625,036</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,807,645</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Office facilities and administrative</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">338,492</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">301,944</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Operating lease cost</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">591,375</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">591,376</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Other expenses</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">806,009</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">256,454</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Professional fees and consulting</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">903,513</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">701,999</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Salaries and wages</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">2,747,133</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">2,913,900</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Sales, marketing, and promotion</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">83,672</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">83,770</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Share-based compensation</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">209,441</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">366,469</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Shareholder communications</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">18,128</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">26,781</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%; border-bottom: 0.75pt solid black;">Travel and entertainment</td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 0.75pt solid black;">41,742</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 0.75pt solid black;">59,142</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 0.75pt solid black;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%; border-bottom: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%; border-bottom: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%; border-bottom: 1.5pt solid black;">9,445,908</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%; border-bottom: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%; border-bottom: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%; border-bottom: 1.5pt solid black;">9,055,174</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%; border-bottom: 1.5pt solid black;"> </td> </tr> </table> </div> </div> </div> </div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">2023</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">2022</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Accounting and legal</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">716,349</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">665,248</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Depreciation and amortization</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,365,018</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,280,446</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">License fees, taxes and insurance</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,625,036</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,807,645</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Office facilities and administrative</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">338,492</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">301,944</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Operating lease cost</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">591,375</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">591,376</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Other expenses</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">806,009</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">256,454</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Professional fees and consulting</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">903,513</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">701,999</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Salaries and wages</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">2,747,133</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">2,913,900</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Sales, marketing, and promotion</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">83,672</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">83,770</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Share-based compensation</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">209,441</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">366,469</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Shareholder communications</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">18,128</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">26,781</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%; border-bottom: 0.75pt solid black;">Travel and entertainment</td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 0.75pt solid black;">41,742</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 0.75pt solid black;">59,142</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 0.75pt solid black;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%; border-bottom: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%; border-bottom: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%; border-bottom: 1.5pt solid black;">9,445,908</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%; border-bottom: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%; border-bottom: 1.5pt solid black;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%; border-bottom: 1.5pt solid black;">9,055,174</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%; border-bottom: 1.5pt solid black;"> </td> </tr> </table>

716349

665248

1365018

1280446

1625036 1807645

338492

301944

591375

591376

806009

256454

903513

701999

2747133

2913900

83672

83770

209441

366469

18128

26781

41742

59142

9445908

9055174

<div> <div> <div> 16. SEGMENTED INFORMATION </div> </div> <div> <div> The Company defines its major geographic operating segments as Oregon and Nevada. Due to the jurisdictional cannabis compliance issues ever-present in the industry, each state operation is by nature operationally segmented. Key decision makers primarily review revenue, cost of sales expense, and gross margin as the primary indicators of segment performance. As the Company continues to expand via acquisition, the segmented information will expand based on management's agreed upon allocation of costs beyond gross margin. A summary of the Company's segmented operational activity and balances for the year ended January 31, 2023 is as follows: <div style="margin-bottom: 14pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap; width: 40%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">Discontinued operations (Oregon)</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">Nevada</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">Corporate</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">Consolidated</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; width: 40%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 40%;">Total revenue</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">357,540</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">28,888,410</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">29,245,950</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 40%;">Gross profit</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">13,401,146</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">13,401,146</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 40%;">Operating expenses:</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 9pt; width: 40%;">General and administration</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(386,779</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(4,397,477</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(2,798,925</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(7,583,181</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 9pt; background-color: #e6efff; width: 40%;">Sales, marketing, and promotion</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(1,938</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(83,672</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(85,610</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 9pt; width: 40%;">Operating lease cost</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(195,639</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(591,375</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(787,014</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 9pt; background-color: #e6efff; width: 40%;">Depreciation and amortization</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(23,756</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(1,270,092</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(94,926</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(1,388,774</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 9pt; width: 40%;">Share-based compensation</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(209,441</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(209,441</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 9pt; background-color: #e6efff; width: 40%;">Impairment of inventory</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(245,682</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(20,726</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(266,408</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 9pt; width: 40%;">Provision for expected credit losses</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(218,425</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(218,425</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 40%;">Interest, accretion, and other</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(6,861</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(31,327</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">288,123</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">249,935</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; border-top: 0.75pt solid black; width: 40%;">Net income (loss) before taxes</td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">(1,079,080</td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">7,027,203</td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">(2,835,895</td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">3,112,228</td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div> <div> </div> A summary of the Company's segmented operational activity and balances for the year ended January 31, 2022 is as follows: <div> <div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap; width: 40%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 12%;"> Discontinued operations (Oregon) </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">Nevada</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">Corporate</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">Consolidated</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; width: 40%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 40%;">Total revenue</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,128,403</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">32,982,976</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">34,111,379</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 40%;">Gross profit (loss) </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(473,854</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">18,809,985</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">18,336,131</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 40%;">Operating expenses:</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 9pt; width: 40%;">General and administration</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(429,969</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(3,797,101</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(2,936,012</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(7,163,082</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 9pt; background-color: #e6efff; width: 40%;">Sales, marketing, and promotion</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(83,770</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(83,770</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 9pt; width: 40%;">Operating lease cost</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(1,233</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(591,376</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(592,609</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 9pt; background-color: #e6efff; width: 40%;">Depreciation and amortization</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(207,319</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(1,276,640</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(3,806</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(1,487,765</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 9pt; width: 40%;">Share-based compensation</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(366,469</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(366,469</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 9pt; background-color: #e6efff; width: 40%;">Impairment of inventory</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(1,456,818</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(1,456,818</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 40%;">Interest, accretion, and other</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">284,125</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">22,171</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">7,355,059</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">7,661,355</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff; border-top: 0.75pt solid black; width: 40%;">Net income (loss) before taxes</td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">(2,285,068</td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">13,083,269</td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">4,048,772</td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">14,846,973</td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> </table> </div> </div> a) Entity-wide disclosures All revenue for the years ended January 31, 2023 and 2022 was earned in the United States. For the years ended January 31, 2023 and January 31, 2022, no customer represented more than 10% of the Company's net revenue and receivables. A summary of the Company's the long-lived tangible assets disaggregation by geographic area is as follows: <div> <div style="margin-bottom: 14px;"> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">January 31, 2023</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">January 31, 2022</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Nevada</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">11,321,662</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">11,903,430</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Discontinued operations (Oregon)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,748,286</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,817,633</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Other</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">703</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">24,414</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; border-top: 0.75pt solid black; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">13,070,651</td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">13,745,477</td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div> </div> </div> </div> </div>

<table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap; width: 40%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">Discontinued operations (Oregon)</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">Nevada</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">Corporate</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">Consolidated</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; width: 40%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 40%;">Total revenue</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">357,540</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">28,888,410</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">29,245,950</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 40%;">Gross profit</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">13,401,146</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">13,401,146</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 40%;">Operating expenses:</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 9pt; width: 40%;">General and administration</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(386,779</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(4,397,477</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(2,798,925</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(7,583,181</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 9pt; background-color: #e6efff; width: 40%;">Sales, marketing, and promotion</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(1,938</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(83,672</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(85,610</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 9pt; width: 40%;">Operating lease cost</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(195,639</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(591,375</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(787,014</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 9pt; background-color: #e6efff; width: 40%;">Depreciation and amortization</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(23,756</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(1,270,092</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(94,926</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(1,388,774</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 9pt; width: 40%;">Share-based compensation</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(209,441</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(209,441</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 9pt; background-color: #e6efff; width: 40%;">Impairment of inventory</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(245,682</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(20,726</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(266,408</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 9pt; width: 40%;">Provision for expected credit losses</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(218,425</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(218,425</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 40%;">Interest, accretion, and other</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(6,861</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(31,327</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">288,123</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">249,935</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; border-top: 0.75pt solid black; width: 40%;">Net income (loss) before taxes</td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">(1,079,080</td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">7,027,203</td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">(2,835,895</td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">3,112,228</td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> <div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap; width: 40%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 12%;"> Discontinued operations (Oregon) </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">Nevada</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">Corporate</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">Consolidated</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; width: 40%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 40%;">Total revenue</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,128,403</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">32,982,976</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">34,111,379</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 40%;">Gross profit (loss) </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(473,854</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">18,809,985</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">18,336,131</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 40%;">Operating expenses:</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 9pt; width: 40%;">General and administration</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(429,969</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(3,797,101</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(2,936,012</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(7,163,082</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 9pt; background-color: #e6efff; width: 40%;">Sales, marketing, and promotion</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(83,770</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(83,770</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 9pt; width: 40%;">Operating lease cost</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(1,233</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(591,376</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(592,609</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 9pt; background-color: #e6efff; width: 40%;">Depreciation and amortization</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(207,319</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(1,276,640</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(3,806</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(1,487,765</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 9pt; width: 40%;">Share-based compensation</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(366,469</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(366,469</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 9pt; background-color: #e6efff; width: 40%;">Impairment of inventory</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(1,456,818</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(1,456,818</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 40%;">Interest, accretion, and other</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">284,125</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">22,171</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">7,355,059</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">7,661,355</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff; border-top: 0.75pt solid black; width: 40%;">Net income (loss) before taxes</td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">(2,285,068</td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">13,083,269</td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">4,048,772</td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">14,846,973</td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> </table> </div>

357540

28888410

29245950

-0

13401146

386779

4397477

2798925

7583181

1938

83672

85610

195639

591375

787014

23756

1270092

94926

1388774

209441

245682

20726

266408

218425 0 0 218425

6861

31327

-288123

-249935

-1079080

7027203

-2835895

3112228

1128403

32982976

34111379

-473854

18809985

18336131

429969

3797101

2936012

7163082

83770

1233

591376

592609

207319

1276640

3806

1487765

366469

1456818

-284125

-22171

-7355059

-7661355

-2285068

13083269

-4048772

14846973

<div style="margin-bottom: 14px;"> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">January 31, 2023</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">January 31, 2022</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Nevada</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">11,321,662</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">11,903,430</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Discontinued operations (Oregon)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,748,286</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,817,633</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Other</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">703</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">24,414</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; border-top: 0.75pt solid black; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">13,070,651</td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">13,745,477</td> <td style="vertical-align: bottom; border-top: 0.75pt solid black; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div>

11321662

11903430

1748286

1817633

703

24414

13070651

13745477

<div> 17. COMMITMENTS The Company and its subsidiaries are committed under lease agreements with third parties and related parties, for land, office space, and equipment in Nevada and Oregon. A summary of the Company's future minimum payments at the year ended January 31, 2023 is as follows: <div style="margin-bottom: 10pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom; width: 55%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 12%;">Third Parties</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 12%;">Related Parties</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 12%;">Total</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 55%;"> </td> <td style="vertical-align: bottom; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; white-space: nowrap; text-align: right; width: 12%;">$</td> <td style="vertical-align: bottom; white-space: nowrap; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; white-space: nowrap; text-align: right; width: 12%;">$</td> <td style="vertical-align: bottom; white-space: nowrap; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; white-space: nowrap; text-align: right; width: 12%;">$</td> <td style="vertical-align: bottom; white-space: nowrap; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 55%;">2024</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">273,743</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,276,262</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,550,005</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 55%;">2025</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">45,551</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,314,551</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,360,102</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 55%;">2026</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">45,551</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,353,987</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,399,538</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 55%;">2027</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">45,551</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,394,607</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,440,158</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 55%;">2028</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">45,551</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,436,445</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,481,996</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; width: 55%;">Thereafter</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">322,651</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">7,712,494</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">8,035,145</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; border-bottom: 1.5pt solid #000000; width: 55%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">778,598</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">14,488,346</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">15,266,944</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> </table> </div> </div>

<div style="margin-bottom: 10pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom; width: 55%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 12%;">Third Parties</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 12%;">Related Parties</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 12%;">Total</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 55%;"> </td> <td style="vertical-align: bottom; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; white-space: nowrap; text-align: right; width: 12%;">$</td> <td style="vertical-align: bottom; white-space: nowrap; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; white-space: nowrap; text-align: right; width: 12%;">$</td> <td style="vertical-align: bottom; white-space: nowrap; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; white-space: nowrap; text-align: right; width: 12%;">$</td> <td style="vertical-align: bottom; white-space: nowrap; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 55%;">2024</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">273,743</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,276,262</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,550,005</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 55%;">2025</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">45,551</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,314,551</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,360,102</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 55%;">2026</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">45,551</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,353,987</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,399,538</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 55%;">2027</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">45,551</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,394,607</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,440,158</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 55%;">2028</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">45,551</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,436,445</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,481,996</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; width: 55%;">Thereafter</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">322,651</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">7,712,494</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">8,035,145</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; border-bottom: 1.5pt solid #000000; width: 55%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">778,598</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">14,488,346</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">15,266,944</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> </table> </div>

273743

1276262

1550005

45551

1314551

1360102

45551

1353987

1399538

45551

1394607

1440158

45551

1436445

1481996

322651

7712494

8035145

778598

14488346

15266944

<div> <div> <div> 18. RELATED PARTY TRANSACTIONS </div> </div> <div> <div> A summary of the Company's related balances included in accounts payable, accrued liabilities, and promissory note payable is as follows: <div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 12%;">January 31, 2023</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 12%;">January 31, 2022</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Due to the President and CEO</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">2,043,019</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">8,172,075</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Lease liabilities due to a company controlled by the CEO</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">8,953,425</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">9,279,123</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Lease liabilities due to SDP Development</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">412,093</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Due to the CFO of the Company</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">692</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">360</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: justify; background-color: #e6efff; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">10,997,136</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">17,863,651</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> </table> </div> Due to the President and CEO consists of promissory note principal and interest and reimbursable expenses incurred in the normal course of business. A summary of the Company's transactions with related parties including key management personnel for the years ended January 31, 2023 and 2022 is as follows: <div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; border-top: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">2023</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">2022</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Consulting fees paid to a director</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">125,000</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">240,000</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; margin-top: 0pt; margin-bottom: 0pt; width: 70%;">Amounts paid to CEO or companies controlled by CEO for leases</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,239,090</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,203,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; background-color: #e6efff; width: 70%;">Amounts paid to CEO or companies controlled by CEO for repayments of promissory note</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">6,584,146</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">7,162,500</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 70%;">Amounts paid to CEO or companies controlled by CEO for remuneration</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">200,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">267,119</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; background-color: #e6efff; width: 70%;">Salary paid to directors and officers</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">398,950</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">496,807</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; width: 70%;">Share based compensation including warrants and stock options for directors and officers</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">153,426</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">251,333</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; background-color: #e6efff; width: 70%;">Lease payments made to SDP Development</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">209,176</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">8,700,612</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">9,829,935</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div> Amounts paid to CEO or companies controlled by CEO consists of salary, lease payments, and promissory note principal and interest. On February 12, 2020, the Company amended the purchase agreement with SDP Development, of which a Director of the Company is a principal owner. The Company had agreed on February 4, 2019 to purchase SDP Development on October 15, 2020, which owned six real estate properties that were leased in connection with Phantom Farms' cannabis cultivation, processing and wholesale distribution operations. The aggregate purchase price was $8,010,000 payable in cash, or, at the election of the vendors, in whole or in part by the issue of 2,670,000 shares at $3.00 per common share. </div> </div> </div>

<div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 12%;">January 31, 2023</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt; width: 12%;">January 31, 2022</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 12%;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Due to the President and CEO</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">2,043,019</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">8,172,075</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Lease liabilities due to a company controlled by the CEO</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">8,953,425</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">9,279,123</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Lease liabilities due to SDP Development</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">412,093</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Due to the CFO of the Company</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">692</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">360</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: justify; background-color: #e6efff; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">10,997,136</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; background-color: #e6efff; width: 12%;">17,863,651</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> </table> </div>

2043019

8172075

8953425

9279123

412093

692

360

10997136

17863651

125000 240000 1239090 1203000 6584146 7162500 200000 267119 398950 496807 153426 251333 0 209176

8700612

9829935

8010000

2670000

<div> 19. EARNINGS PER SHARE <div> <div> A summary of the Company's calculation of basic and diluted earnings per share for the years ended January 31, 2023 and 2022, is as follows: <div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">2023</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">2022</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Net income from continuing operations after income taxes</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,381,540</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">12,197,574</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Net loss from discontinued operations after income taxes</td> <td style="vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(1,088,329</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(2,242,644</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Net income</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">293,211</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">9,954,930</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Weighted average number of common shares outstanding</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">120,047,814</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">118,308,584</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Dilutive effect of warrants and stock options outstanding</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">2,833,093</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">2,833,093</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Diluted weighted average number of common shares outstanding</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">122,880,907</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">121,141,677</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Basic income per share, continuing operations</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">0.01</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">0.10</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Diluted income per share, continuing operations</td> <td style="vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 12%;">0.01</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 12%;">0.10</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;"> Basic loss per share, discontinued operations </td> <td style="vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(0.01</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(0.02</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Diluted loss per share, discontinued operations</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(0.01</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(0.02</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Basic income per share</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">0.00</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">0.08</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; width: 70%;">Diluted income per share</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">0.00</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">0.08</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div> The computation of diluted earnings per share excludes the effect of the potential exercise of warrants and stock options when the average market price of the common stock is lower than the exercise price of the respective warrant or stock option and when inclusion of these amounts would be anti-dilutive. For the years ended January 31, 2023 and 2022, the number of warrants excluded from the computation was 1,200,000 and 1,200,000, respectively. For the years ended January 31, 2023 and 2022, the number of stock options excluded from the computation was 4,409,998 and 4,263,333, respectively. For the years ended January 31, 2023 and 2022, the computation of diluted earnings per share also excludes the potential issuance of 6,000,000 earn out shares (Note 13) as the market price of the common shares has not been high enough to trigger an earn out event. </div> </div> </div>

<div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 70%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">2023</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">2022</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Net income from continuing operations after income taxes</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">1,381,540</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">12,197,574</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Net loss from discontinued operations after income taxes</td> <td style="vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(1,088,329</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(2,242,644</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Net income</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">293,211</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">9,954,930</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Weighted average number of common shares outstanding</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">120,047,814</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">118,308,584</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Dilutive effect of warrants and stock options outstanding</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">2,833,093</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">2,833,093</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Diluted weighted average number of common shares outstanding</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">122,880,907</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">121,141,677</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Basic income per share, continuing operations</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">0.01</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">0.10</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;">Diluted income per share, continuing operations</td> <td style="vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 12%;">0.01</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 12%;">0.10</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;"> Basic loss per share, discontinued operations </td> <td style="vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(0.01</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(0.02</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Diluted loss per share, discontinued operations</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(0.01</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">(0.02</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 70%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; width: 70%;">Basic income per share</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">0.00</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff; width: 12%;">0.08</td> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; width: 70%;">Diluted income per share</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">0.00</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">0.08</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div>

1381540

12197574

-1088329

-2242644

293211

9954930

120047814

118308584

2833093

122880907

121141677

0.01

0.1

0.01

0.1

-0.01

-0.02

-0.01

-0.02

0.08

1200000

4409998

4263333

6000000 6000000

<div> <div> <div> 20. CONTINGENCIES From time to time, the Company is involved in various litigation matters arising in the ordinary course of its business. Management is of the opinion that disposition of any current matter will not have a material adverse impact on the Company's financial position, results of operations, or the ability to carry on any of its business activities. a) Legal proceedings Oregon Action: A complaint was filed in the Oregon State Circuit Court for Clackamas County, on April 29, 2019, by two current owners of Proudest Monkey Holdings, LLC (the former sole member of EFF) (the "Plaintiffs"), alleging contract, employment, and statutory claims, alleging $612,500 in damages (as amended), against the Company, its wholly-owned subsidiaries 320204 US Holdings Corp, EFF, Swell Companies Limited, and Phantom Brands LLC, in addition to three directors, two officers, and one former employee (the "Oregon Action"). The Company and the other defendants wholly denied the allegations and claims made in the lawsuit and is defending the lawsuit. On June 21, 2019, the Company filed Oregon Rule of Civil Procedure ("ORCP") 21 motions to dismiss all of the Plaintiffs' claims against it, its wholly owned subsidiaries, and other defendants. On December 30, 2019, plaintiffs filed an amended complaint dismissing the Company (and some of its directors and subsidiaries) from the case and reducing the amount in controversy in the Oregon Action. On May 6, 2020, the court granted the Company's ORCP 21 motions in its entirety to dismiss all of Plaintiffs' claims against the remaining defendants. The judgment of dismissal was entered by the Clackamas County court on or about October 14, 2020. On October 22, 2020, the Company submitted a petition to recover the costs and attorney fees incurred by the Company as the prevailing party in the Oregon Action. On January 20, 2021, the Court ruled in the Company's favor, awarding the Company and its subsidiaries $68,195 in attorney's fees, $1,252 in costs, and a statutory prevailing party fee of $640, through a supplemental judgment, entered on February 2, 2021. The judgment in favor of the Company remains unpaid and continues to collect interest at the statutory rate of 9% per annum. On November 12, 2020, the plaintiffs appealed the order dismissing the claims alleged in their amended complaint. On March 2, 2021, the plaintiffs amended their appeal to also appeal the award of attorney fees and costs. <div> </div> On October 26, 2022, the Court of Appeals issued its decision, reversing the general and supplemental judgments in favor of the Company and remanding the case to the trial court for further proceedings. The Company filed a petition for reconsideration of the Court of Appeals decision on December 7, 2022, which was denied. On April 19, 2023, the Company filed a petition for review in the Oregon Supreme Court. The petition for review is pending. The Company cannot predict if the Oregon Supreme Court will grant certiorari to hear the appeal, and if so, the likely resolution of the appeal. British Columbia Action: On or about September 13, 2019, the Company delivered a notice to the above-mentioned Plaintiffs of alleged breach and default under the EFF purchase and sale agreement, due to alleged unlawful, intentional acts and material misrepresentations by the Plaintiffs before and after the completion of the purchase. As a result of such breach, the Company denied the Plaintiffs' tender of their share payment notes in connection with the agreement. On or about October 14, 2019, Proudest Monkey Holdings, LLC and one of its current owners, sued the Company in the Supreme Court of British Columbia to compel the issuance and delivery of the subject shares, including interests and costs (the "British Columbia Action"). On November 8, 2019, the Company responded and counterclaimed for general, special and punitive damages, including interest and costs, related to breach of contract, repudiation of contract, breach of indemnity and fraudulent and negligent misrepresentation by the Plaintiffs. The Plaintiffs filed a response to the Company's counterclaims on or about June 5, 2020, and the parties stipulated to a form of amended pleading which included the joinder of additional parties, an owner of Proudest Monkey Holdings, LLC and EFF, and additional contract and equitable claims and damages, partially duplicative to those alleged by the Plaintiffs in the Oregon Action (breach of contract, indemnity, unjust enrichment and wrongful termination claims). Plaintiffs allege $2,774,176.05 in damages (as amended), plus unquantified additional damages, interest and costs, of which amounts are partially duplicative of the Oregon Action. This action remains in the discovery stage, and the trial date is scheduled for February 2024. It is too early to predict the resolution of the claims and counterclaims. Settled and Dismissed Action: On or about May 30, 2019, Wallace Hill Partners Ltd. ("Wallace Hill") filed a civil claim in the Supreme Court of British Columbia alleging breach of contract and entitlement to 1,800,000 Common Shares of the Company, fully vested by March 1, 2019, and damages due to the lost opportunity to sell those shares after such date for a profit. On June 23, 2019, the Company circulated a letter to Wallace Hill terminating the agreement and accepting Wallace Hill's repudiation of the agreement based on Wallace Hill's previously published defamatory comments and termination of the agreement. Also, on June 23, 2019, the Company filed its response to the civil claim denying all claims and filed counterclaims alleging breach of contract, a declaratory judgment of termination of the agreement, defamation and an injunction from further defamatory comments. On March 23, 2022, the Company and Wallace Hill entered into a mutual release agreement, pursuant to which, among other things, all parties agreed to dismiss their respective claims and to release one another from any further causes of action in connection with the subject matter of the original claims. On April 23, 2022, the parties filed a Notice of Discontinuance in the Supreme Court of British Columbia formally dismissing the civil action. </div> </div> </div>

612500

68195

1252

640

0.09

2774176

1800000

<div> 21. INCOME TAXES <div> <div> The Company is a Canadian resident company, as defined in the Income Tax Act (Canada) (the "ITA"), for Canadian income tax purposes. However, it has subsidiaries that are treated as United States corporations for US federal income tax purposes per the Internal Revenue Code (US) ("IRC") and are thereby subject to federal income tax on their worldwide income. As a result, the Company is subject to taxation both in Canada and the United States. A summary of the Company's components of the income tax provision for the years ended January 31, 2023 and 2022, is as follows: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">2023</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">2022 (As restated - Note 2)</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Current</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 8.95pt;">Canadian</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 8.95pt; border-bottom: 0.75pt solid #000000; background-color: #e6efff;">US Federal and State</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">2,866,688</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">4,344,395</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Total current income tax expense</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 12%;">2,866,688</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 12%;">4,344,395</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Deferred</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 8.95pt; background-color: #e6efff;">Canadian</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 8.95pt; border-bottom: 0.75pt solid #000000;">US Federal and State</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(56,920</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">590,072</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Total deferred income tax recovery</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">(56,920</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">590,072</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: right;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; background-color: #e6efff;">Total income tax expense</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">2,809,768</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">4,934,467</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> A summary of the Company's domestic and foreign components of income (loss) before provision for income taxes for the years ended January 31, 2023 and 2022, is as follows: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">2023</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">2022 (As restated - Note 2)</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Canadian</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">(702,488</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">6,985,670</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">United States</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">4,893,796</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">10,146,371</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; background-color: #e6efff;">Income (loss) before income taxes</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">4,191,308</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">17,132,041</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> A summary of the Company's reconciliation of the statutory income tax rate percentage to the effective tax rate for the years ended January 31, 2023 and 2022 is as follows: <div> <div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">2023</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">2022 (As restated - Note 2)</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: right;"> </td> <td style="vertical-align: bottom; text-align: right;"> </td> <td style="vertical-align: bottom; text-align: right;">$</td> <td style="vertical-align: bottom; text-align: right;"> </td> <td style="vertical-align: bottom; text-align: right;"> </td> <td style="vertical-align: bottom; text-align: right;">$</td> <td style="vertical-align: bottom; text-align: right;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Income (loss) for the year</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">4,191,308</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">17,132,041</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000;">Statutory rate</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">27%</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">27%</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: right; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 12%; text-align: right; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Income tax expense at statutory rate</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,131,653</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">4,625,653</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Non-deductible expenditures and non-taxable revenues</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 12%; text-align: right; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">IRC section 280E disallowance</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,802,992</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,834,479</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Other</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">56,549</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">98,946</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Foreign tax rate differential</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(288,933</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(608,783</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Change in foreign exchange rates and other</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">196,298</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">115,835</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Change in valuation allowance</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(198,848</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(73,893</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Payable adjustment to provision versus statutory tax returns</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">67,056</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">2,738,188</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Deferred adjustment to provision versus statutory tax returns</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">10,410</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(4,316,443</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Uncertain tax position, inclusive of interest and penalties</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">32,591</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">520,485</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">2,809,768</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">4,934,467</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> <div> <div> </div> A summary of the Company's deferred tax assets significant components is as follows: </div> </div> </div> <table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; width: 70%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 12%;">January 31, 2023</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 12%;">January 31, 2022 (As restated - Note 2)</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; width: 70%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: right; width: 12%;">$</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: right; width: 12%;">$</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; background-color: #e6efff; width: 70%;">Deferred tax assets</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; text-align: right; width: 12%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; text-align: right; width: 12%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 8.95pt; width: 70%;">Share issuance costs and financing fees</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 12%;">4,764</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 12%;">262,726</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; text-indent: 8.95pt; width: 70%;">Allowable capital losses</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 12%;">132,986</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 12%;">139,182</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 8.95pt; width: 70%;">Non-capital losses</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 12%;">4,699,606</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 12%;">4,376,843</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; text-indent: 8.95pt; width: 70%;">Intangible assets</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 12%;">85,843</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 12%;">98,394</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 8.95pt; width: 70%;">Right of use assets and lease liabilities, net</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 12%;">73,247</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 12%;">53,248</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; text-indent: 8.95pt; width: 70%;">Reclamation obligation</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 12%;">14,219</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 12%;">14,923</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 8.95pt; width: 70%;">Derivative liability</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 12%;">64,719</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 12%;">271,719</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; text-indent: 8.95pt; width: 70%;">Inventories</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 12%;">36,797</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 12%;">-</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 8.95pt; width: 70%; border-bottom: 0.75pt solid black;">Convertible promissory note</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 12%; border-bottom: 0.75pt solid black;">312,190</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 2%; border-bottom: 0.75pt solid black;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 12%; border-bottom: 0.75pt solid black;">345,989</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 2%; border-bottom: 0.75pt solid black;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; background-color: #e6efff; width: 70%;">Total deferred tax assets</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 12%;">5,424,371</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 12%;">5,563,024</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; width: 70%;">Valuation allowance</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; border-bottom: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">(5,311,368)</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; border-bottom: 0.75pt solid #000000; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; border-bottom: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">(5,510,216)</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; border-bottom: 0.75pt solid #000000; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; background-color: #e6efff; width: 70%;">Total net deferred tax assets</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 12%;">113,003</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 12%;">52,808</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; width: 70%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 12%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 12%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; background-color: #e6efff; width: 70%;">Deferred tax liabilities</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 12%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 12%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 8.95pt; width: 70%;">Property and equipment</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 12%;">(89,641)</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 12%;">(86,366)</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; background-color: #e6efff; width: 70%;">Net deferred tax (liability) asset</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; background-color: #e6efff; text-align: right; width: 12%;">23,362</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; background-color: #e6efff; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; background-color: #e6efff; text-align: right; width: 12%;">(33,558)</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; background-color: #e6efff; text-align: right; width: 2%;"> </td> </tr> </table> Realization of deferred tax assets associated with the net operating loss carryforwards is dependent upon generating sufficient taxable income prior to their expiration. A valuation allowance to reflect management's estimate of the Canadian loss carryforwards that may expire prior to their utilization has been recorded at January 31, 2023. As of January 31, 2023, the Company has $17.4 million of Canadian non-capital loses which expire between 2026 and 2043, and Canadian capital losses of $985 thousand with no expiry date. The Company determined a valuation allowance was also applicable to the other Canadian deferred tax assets. The Company also has of $2.7 million of Oregon net operating losses which have a 15-year carryforward period with losses expiring between 2034 and 2038. The Company determined a valuation allowance was applicable to the full amount of the available Canadian losses. As the Company operates in the cannabis industry, the Company is subject to the limits of Internal Revenue Code ("IRC") Section 280E for US federal income tax purposes as well as state income tax purposes. Under IRC Section 280E, the Company is only allowed to deduct expenses directly related to costs of goods sold. This results in permanent differences between ordinary and necessary business expenses deemed non-allowable under IRC Section 280E. Management assesses the available positive and negative evidence to estimate whether sufficient future taxable income will be generated to permit use of the existing deferred tax assets. A significant piece of objective negative evidence evaluated was the cumulative loss incurred by the Canadian entity over the three-year period ended January 31, 2023. Such objective evidence limits the ability to consider other subjective evidence, such as our projections for future growth. On the basis of this evaluation, as of January 31, 2023, a valuation allowance of $5,311,368 (2022 - $5,510,216) has been recorded to recognize only the portion of the deferred tax asset that is more likely than not to be realized. The amount of the deferred tax asset considered realizable, however, could be adjusted if estimates of future taxable income during the carryforward period are reduced or increased or if objective negative evidence in the form of cumulative losses is no longer present and additional weight is given to subjective evidence such as our projections for growth. The Company recognizes benefits from uncertain tax positions based on the cumulative probability method whereby the largest benefit with a cumulative probability of greater than 50% is recorded. An uncertain tax position is not recognized if it has less than a 50% likelihood of being sustained. As of January 31, 2023, and January 31, 2022, the Company recorded an uncertain tax liability of $846,446 and $813,855, respectively, inclusive of interest and penalties. <div> <div> </div> The uncertain tax position comprises of certain deductions for lease obligations, depreciation and amortization taken in prior years in excess of the accounting expenses in respect of assets used in production as well as deductions for inventory impairment that were not previously taken. The total of these uncertainties before interest and penalties is $789,112 as of January 31, 2023. The Company believes it is reasonably possible that $401,824 of unrecognized tax benefits related to depreciation and $7,745 of unrecognized tax benefits related to amortization, lease obligations and inventory may decrease within the next 12 months as the Company will be filing amended tax returns for prior years and amounts will be coming statute-barred with respect to the 2020 fiscal year. </div> During the years ended January 31, 2023, the Company recorded interest of $55,065 and penalties of $2,268 on uncertain tax liabilities within the consolidated statements of operations and comprehensive (loss) income. The Company is subject to taxation and files income tax returns in Canada, the U.S. and Oregon. As of January 31, 2023, the tax returns for the 2020, 2021 and 2022 fiscal years are subject to examination by tax authorities in the U.S. and Oregon. The tax return for the 2019 fiscal year is also subject to examination by tax authorities in Canada. The aggregate change in the balance of gross unrecognized tax benefits, which includes interest and penalties is as follows: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">January 31, 2023</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">2022 (As restated - Note 2)</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Beginning balance</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">813,855</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">293,370</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Increase due to tax positions taken during a prior year</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">32,591</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">520,485</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; background-color: #e6efff;">Ending balance</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">846,446</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">813,855</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> The total amount of unrecognized tax benefits that would, if recognized, impact the effective tax rate is $846,446 for the tax year ended January 31, 2023 ($813,855 for January 31, 2022). A summary of the components of the Company's income taxes payable is as follows: <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-size: 10pt; width: 100%; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">January 31, 2023</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">January 31, 2022 (As restated - Note 2)</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Income taxes payable</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">6,890,412</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">4,056,315</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Unrecognized tax position, inclusive of interest and penalties</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">846,446</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">813,855</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">7,736,858</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">4,870,170</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> </div> </div> </div>

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">2023</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">2022 (As restated - Note 2)</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Current</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 8.95pt;">Canadian</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 8.95pt; border-bottom: 0.75pt solid #000000; background-color: #e6efff;">US Federal and State</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">2,866,688</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">4,344,395</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Total current income tax expense</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 12%;">2,866,688</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 12%;">4,344,395</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Deferred</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 8.95pt; background-color: #e6efff;">Canadian</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 8.95pt; border-bottom: 0.75pt solid #000000;">US Federal and State</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(56,920</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">590,072</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Total deferred income tax recovery</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">(56,920</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">590,072</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: right;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; background-color: #e6efff;">Total income tax expense</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">2,809,768</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">4,934,467</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table>

2866688

4344395

2866688

4344395

-56920

590072

-56920

590072

2809768

4934467

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">2023</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">2022 (As restated - Note 2)</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Canadian</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">(702,488</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">6,985,670</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">United States</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">4,893,796</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">10,146,371</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; background-color: #e6efff;">Income (loss) before income taxes</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">4,191,308</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">17,132,041</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table>

-702488

6985670

4893796

10146371

4191308

17132041

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">2023</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">2022 (As restated - Note 2)</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: right;"> </td> <td style="vertical-align: bottom; text-align: right;"> </td> <td style="vertical-align: bottom; text-align: right;">$</td> <td style="vertical-align: bottom; text-align: right;"> </td> <td style="vertical-align: bottom; text-align: right;"> </td> <td style="vertical-align: bottom; text-align: right;">$</td> <td style="vertical-align: bottom; text-align: right;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Income (loss) for the year</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">4,191,308</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">17,132,041</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000;">Statutory rate</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">27%</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">27%</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: right; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 12%; text-align: right; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Income tax expense at statutory rate</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,131,653</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">4,625,653</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Non-deductible expenditures and non-taxable revenues</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 12%; text-align: right; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">IRC section 280E disallowance</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,802,992</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">1,834,479</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Other</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">56,549</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">98,946</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Foreign tax rate differential</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(288,933</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(608,783</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Change in foreign exchange rates and other</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">196,298</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">115,835</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Change in valuation allowance</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(198,848</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(73,893</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Payable adjustment to provision versus statutory tax returns</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">67,056</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">2,738,188</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Deferred adjustment to provision versus statutory tax returns</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">10,410</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(4,316,443</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Uncertain tax position, inclusive of interest and penalties</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">32,591</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">520,485</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">2,809,768</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">4,934,467</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table>

4191308

17132041

0.27

1131653

4625653

1802992 1834479

56549

98946

-288933

-608783

196298 115835

-198848

-73893

67056 2738188 10410 -4316443 32591 520485

2809768

4934467

<table cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; width: 70%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 12%;">January 31, 2023</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 12%;">January 31, 2022 (As restated - Note 2)</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; width: 70%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: right; width: 12%;">$</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: right; width: 12%;">$</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; background-color: #e6efff; width: 70%;">Deferred tax assets</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; text-align: right; width: 12%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; text-align: right; width: 12%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 8.95pt; width: 70%;">Share issuance costs and financing fees</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 12%;">4,764</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 12%;">262,726</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; text-indent: 8.95pt; width: 70%;">Allowable capital losses</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 12%;">132,986</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 12%;">139,182</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 8.95pt; width: 70%;">Non-capital losses</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 12%;">4,699,606</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 12%;">4,376,843</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; text-indent: 8.95pt; width: 70%;">Intangible assets</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 12%;">85,843</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 12%;">98,394</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 8.95pt; width: 70%;">Right of use assets and lease liabilities, net</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 12%;">73,247</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 12%;">53,248</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; text-indent: 8.95pt; width: 70%;">Reclamation obligation</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 12%;">14,219</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 12%;">14,923</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 8.95pt; width: 70%;">Derivative liability</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 12%;">64,719</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 12%;">271,719</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; background-color: #e6efff; text-indent: 8.95pt; width: 70%;">Inventories</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 12%;">36,797</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 12%;">-</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 8.95pt; width: 70%; border-bottom: 0.75pt solid black;">Convertible promissory note</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 12%; border-bottom: 0.75pt solid black;">312,190</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 2%; border-bottom: 0.75pt solid black;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 1%; border-bottom: 0.75pt solid black;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 12%; border-bottom: 0.75pt solid black;">345,989</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 2%; border-bottom: 0.75pt solid black;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; background-color: #e6efff; width: 70%;">Total deferred tax assets</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 12%;">5,424,371</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 12%;">5,563,024</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; width: 70%;">Valuation allowance</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; border-bottom: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">(5,311,368)</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; border-bottom: 0.75pt solid #000000; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; border-bottom: 0.75pt solid #000000; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">(5,510,216)</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; border-bottom: 0.75pt solid #000000; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; background-color: #e6efff; width: 70%;">Total net deferred tax assets</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 12%;">113,003</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 12%;">52,808</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; width: 70%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 12%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 12%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; background-color: #e6efff; width: 70%;">Deferred tax liabilities</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 12%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 12%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; background-color: #e6efff; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: bottom; text-indent: 8.95pt; width: 70%;">Property and equipment</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 12%;">(89,641)</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 12%;">(86,366)</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; background-color: #e6efff; width: 70%;">Net deferred tax (liability) asset</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; background-color: #e6efff; text-align: right; width: 12%;">23,362</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; background-color: #e6efff; text-align: right; width: 2%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; background-color: #e6efff; text-align: right; width: 1%;"> </td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; background-color: #e6efff; text-align: right; width: 12%;">(33,558)</td> <td style="padding-right: 1.4pt; padding-left: 1.4pt; vertical-align: middle; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; background-color: #e6efff; text-align: right; width: 2%;"> </td> </tr> </table>

4764 262726

132986

139182

4699606 4376843 85843 98394 73247 53248 14219 14923

64719

271719

36797

312190 345989

5424371

5563024

5311368

5510216

113003

52808

89641

86366

23362

-33558

17400000

985000

2700000

15-year carryforward period with losses expiring between 2034 and 2038

5311368

5510216

846446

813855

789112 401824 7745

55065

2268

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">January 31, 2023</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;">2022 (As restated - Note 2)</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Beginning balance</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">813,855</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">293,370</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Increase due to tax positions taken during a prior year</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">32,591</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">520,485</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; background-color: #e6efff;">Ending balance</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">846,446</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">813,855</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table>

813855

293370

32591

520485

846446

813855

846446

813855

6890412

4056315

846446

813855

7736858

4870170

<div> 22. FINANCIAL INSTRUMENTS The following tables present information about the Company's financial instruments and their classifications as of January 31, 2023 and January 31, 2022 and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value: <table border="0" cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; width: 40%;">Fair value measurements at January 31, 2023 using:</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">Level 1</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">Level 2</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">Level 3</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">Total</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 40%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> $ </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> $ </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> $ </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> $ </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 2%;"> </td> </tr> <tr style="background-color: #e6efff;"> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 40%; background-color: #e6efff;">Financial liabilities:</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr style="background-color: #ffffff;"> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; width: 40%; background-color: #ffffff;">Earn out shares (Note 13)</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #ffffff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #ffffff;">-</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #ffffff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #ffffff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #ffffff;">-</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #ffffff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #ffffff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #ffffff;">239,700</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #ffffff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #ffffff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #ffffff;">239,700</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #ffffff;"> </td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; white-space: nowrap; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; width: 40%;">Fair value measurements at January 31, 2022 using:</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 12%;">Level 1</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 12%;">Level 2</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 12%;">Level 3</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 12%;">Total</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 40%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> $ </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> $ </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> $ </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> $ </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 2%;"> </td> </tr> <tr style="background-color: #e6efff;"> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 40%; background-color: #e6efff;">Financial liabilities:</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr style="background-color: #ffffff;"> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; width: 40%; background-color: #ffffff;">Earn out shares (Note 13)</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #ffffff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #ffffff;">-</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #ffffff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #ffffff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #ffffff;">-</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #ffffff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #ffffff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #ffffff;">1,006,368</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #ffffff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #ffffff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #ffffff;">1,006,368</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #ffffff;"> </td> </tr> </table> The fair value of the derivative liability associated with the earn out shares was derived using a Monte Carlo simulation using non-observable inputs, and therefore represent a Level 3 measurement. </div>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; width: 40%;">Fair value measurements at January 31, 2023 using:</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">Level 1</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">Level 2</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">Level 3</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; width: 12%;">Total</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 40%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> $ </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> $ </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> $ </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> $ </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 2%;"> </td> </tr> <tr style="background-color: #e6efff;"> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 40%; background-color: #e6efff;">Financial liabilities:</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr style="background-color: #ffffff;"> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; width: 40%; background-color: #ffffff;">Earn out shares (Note 13)</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #ffffff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #ffffff;">-</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #ffffff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #ffffff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #ffffff;">-</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #ffffff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #ffffff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #ffffff;">239,700</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #ffffff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #ffffff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #ffffff;">239,700</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #ffffff;"> </td> </tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="width: 100%;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; white-space: nowrap; vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; width: 40%;">Fair value measurements at January 31, 2022 using:</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 12%;">Level 1</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 12%;">Level 2</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 12%;">Level 3</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 12%;">Total</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; border-bottom: 0.75pt solid #000000; white-space: nowrap; text-align: right; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 40%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> $ </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> $ </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> $ </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 1%;"> $ </td> <td style="vertical-align: bottom; text-align: right; width: 12%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 2%;"> </td> </tr> <tr style="background-color: #e6efff;"> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 40%; background-color: #e6efff;">Financial liabilities:</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr style="background-color: #ffffff;"> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; width: 40%; background-color: #ffffff;">Earn out shares (Note 13)</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #ffffff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #ffffff;">-</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #ffffff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #ffffff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #ffffff;">-</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #ffffff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #ffffff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #ffffff;">1,006,368</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #ffffff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #ffffff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #ffffff;">1,006,368</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #ffffff;"> </td> </tr> </table>

239700

1006368

<div> <div> <div> <div> <div> <div> <div> 23. SUBSEQUENT EVENTS On February 13, 2023 the Company announced it had negotiated the cancellation of a portion of the earn out share obligations pursuant to the Swell Purchase agreement. The Company entered into agreements with certain Swell vendors to extinguish the Company's obligation to issue 4,792,800 common shares in exchange for a one-time payment of $575,136. On February 6, 2023, the Company and its CEO, Sonny Newman, agreed to defer payment of the principal portion of the March 1, 2023 promissory note payment in order to facilitate the cash coverage required to settle the Company's cash settlement with the Swell vendors. The principal portion was deferred until April 1, 2023 and normally scheduled payments of principal and interest resumed at that time. On March 9, 2023, the Company executed a settlement agreement to terminate the lease-to-own arrangement accounted for as a sales-type lease for certain licenses, land and equipment in Oregon, USA (Note 4). The lessee failed to make the minimum payments under the arrangement and the Company exercised its right to terminate the relationship. As part of the settlement agreement, the lessee paid $500,000 as consideration for two cannabis licenses in Oregon. The Company retains the land, building and equipment. On June 1, 2023, the Company completed all payments totaling $2,026,667 on the promissory note payable (Note 12(b)) owing to Sonny Newman, the Company's President and CEO. In connection with the repayment, the security against the Company's assets held in Silver State Cultivation LLC and Silver State Relief LLC has been fully discharged. </div> </div> </div> </div> </div> </div> </div>

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0 450953 2582903

38415

<div> 1. NATURE OF OPERATIONS C21 Investments Inc. (the "Company" or "C21") was incorporated January 15, 1987, under the Company Act of British Columbia. The Company is a publicly traded company with its registered office is 1900-885 West Georgia Street, Vancouver, BC, V6C 3H4. Pursuant to a change of business announced on January 29, 2018 to the Cannabis industry, the Company commenced acquiring and operating revenue-producing cannabis operations in the USA. On June 15, 2018, the Company's common shares were delisted from the TSX Venture Exchange ("TSX-V") at the Company's request and on June 18, 2018 the Company commenced trading on the Canadian Securities Exchange ("CSE"), completed its change of business to the cannabis industry and commenced trading under the symbol CXXI. The Company registered its common shares in the United States and on May 6, 2019, its shares were cleared by the Financial Industry Regulatory Authority for trading on the OTC Markets platform under the U.S. trading symbol CXXIF. On September 28, 2020, the Company began trading on the OTCQB® Venture Market. For the year ended January 31, 2021, the Company operated in two segments: recreational cannabis in Oregon, USA and recreational and medical cannabis in Nevada, USA (note 17). Subsequent to the year ended January 31, 2021, the Company made the strategic decision to exit operations in Oregon. The results of operations for the year ended January 31, 2021 have been re-stated to present the operating results of the Oregon segment as discontinued operations. The Nevada segment remains engaged in the cultivation of and manufacturing of cannabis flower products, vape products and extract products for wholesale and retail sales. At January 31, 2021, the Company had cash of $6,237,182, a working capital deficit of $3,914,024, and an accumulated deficit of $79,426,484. However, for the year ended January 31, 2021, the Company generated net positive cash flows from operations. Management has taken several actions to ensure that the Company will continue as a going concern through January 31, 2022 and January 31, 2023, including the closing of its operations in Oregon (note 4), selling the assets in Oregon, reducing headcount, and reducing discretionary expenditures. The Company is seeking additional financing in the form of debt which could consolidate existing debt on its balance sheet on more favorable terms. In the United States, 36 states, the District of Columbia, and four out of five U.S. territories allow the use of medical cannabis. The recreational adult-use of cannabis is legalized in 17 states, including Alaska, Arizona, California, Colorado, Illinois, Maine, Massachusetts, Michigan, Montana, Nevada, New Jersey, New Mexico, New York, Oregon, Vermont, Virginia, Washington, and the District of Columbia. At the federal level, however, cannabis currently remains a Schedule I controlled substance under the Federal Controlled Substances Act of 1970. Under U.S. federal law, a Schedule I drug or substance has a high potential for abuse, no accepted medical use in the United States, and a lack of accepted safety for the use of the drug under medical supervision. As such, even in those states in which marijuana is legalized under state law, the manufacture, importation, possession, use or distribution of cannabis remains illegal under U.S. federal law. This has created a dichotomy between state and federal law, whereby many states have elected to regulate and remove state-level penalties regarding a substance which is still illegal at the federal level. There remains uncertainty about the US federal government's position on cannabis with respect to cannabis-legal status. A change in its enforcement policies could impact the ability of the Company to continue as a going concern. </div>

6237182

-3914024

-79426484

<div> 2. BASIS OF PREPARATION Basis of presentation These consolidated financial statements as at and for the year ended January 31, 2021 ("consolidated financial statements") are prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). These consolidated financial statements have been prepared on an accrual basis and are based on historical costs, except for certain financial instruments classified as fair value through profit or loss. Functional and reporting currency The functional currency of C21 Investments Inc. is Canadian dollars, and the functional currency of the Company's subsidiaries is U.S. dollars. C21 has determined that the U.S. dollar is the most relevant and appropriate reporting currency as the Company's operations are conducted in U.S. dollars and its financial results are prepared and reviewed internally by management in U.S. dollars. The consolidated financial statements are presented in U.S. dollars unless otherwise noted. Basis of consolidation The consolidated financial statements incorporate the accounts of the Company and all the entities in which the Company has a controlling voting interest and is deemed to be the primary beneficiary. All consolidated entities were under common control during the entirety of the periods for which their respective results of operations were included in the consolidated statements (i.e. from the date of acquisition). All intercompany balances and transactions are eliminated upon consolidation. The following are the Company's subsidiaries that are included in these consolidated financial statements as at and for the year ended January 31, 2021: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt;"> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; white-space: nowrap;">Name of Subsidiary</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: center; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt;"> Country of Incorporation </td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: center; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt;"> Percentage Ownership </td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: center; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt;"> Functional Currency </td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; white-space: nowrap;">Principal Activity</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; background-color: #e6efff;">320204 US Holdings Corp.</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; border-top: 1.5pt solid #000000; background-color: #e6efff; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; border-top: 1.5pt solid #000000; background-color: #e6efff; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; border-top: 1.5pt solid #000000; background-color: #e6efff; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom; border-top: 1.5pt solid #000000; background-color: #e6efff;">Holding Company</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom;">320204 Oregon Holdings Corp.</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom;">Holding Company</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; background-color: #e6efff;">320204 Nevada Holdings Corp.</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom; background-color: #e6efff;">Holding Company</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom;">320204 Re Holdings, LLC</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom;">Holding Company</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; background-color: #e6efff;">Eco Firma Farms LLC</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom; background-color: #e6efff;">Cannabis producer</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom;">Silver State Cultivation LLC</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom;">Cannabis producer</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; background-color: #e6efff;">Silver State Relief LLC</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom; background-color: #e6efff;">Cannabis retailer</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom;">Swell Companies LTD</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom;">Cannabis processor, distributor</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; background-color: #e6efff;">Megawood Enterprises Inc.</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom; background-color: #e6efff;">Cannabis retailer</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom;">Phantom Venture Group, LLC</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom;">Holding Company</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; background-color: #e6efff;">Phantom Brands, LLC</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom; background-color: #e6efff;">Holding Company</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom;">Phantom Distribution, LLC</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom;">Cannabis distributor</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; background-color: #e6efff;">63353 Bend, LLC</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom; background-color: #e6efff;">Cannabis producer</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom;">20727-4 Bend, LLC</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom;">Cannabis processor</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; background-color: #e6efff;">4964 BFH, LLC</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom; background-color: #e6efff;">Cannabis producer</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000;">Workforce Concepts 21, Inc.</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000;">Payroll and benefits services</td> </tr> </table> </div>

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt;"> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; white-space: nowrap;">Name of Subsidiary</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: center; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt;"> Country of Incorporation </td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: center; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt;"> Percentage Ownership </td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: center; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt;"> Functional Currency </td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; white-space: nowrap;">Principal Activity</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; background-color: #e6efff;">320204 US Holdings Corp.</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; border-top: 1.5pt solid #000000; background-color: #e6efff; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; border-top: 1.5pt solid #000000; background-color: #e6efff; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; border-top: 1.5pt solid #000000; background-color: #e6efff; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom; border-top: 1.5pt solid #000000; background-color: #e6efff;">Holding Company</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom;">320204 Oregon Holdings Corp.</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom;">Holding Company</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; background-color: #e6efff;">320204 Nevada Holdings Corp.</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom; background-color: #e6efff;">Holding Company</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom;">320204 Re Holdings, LLC</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom;">Holding Company</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; background-color: #e6efff;">Eco Firma Farms LLC</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom; background-color: #e6efff;">Cannabis producer</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom;">Silver State Cultivation LLC</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom;">Cannabis producer</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; background-color: #e6efff;">Silver State Relief LLC</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom; background-color: #e6efff;">Cannabis retailer</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom;">Swell Companies LTD</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom;">Cannabis processor, distributor</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; background-color: #e6efff;">Megawood Enterprises Inc.</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom; background-color: #e6efff;">Cannabis retailer</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom;">Phantom Venture Group, LLC</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom;">Holding Company</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; background-color: #e6efff;">Phantom Brands, LLC</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom; background-color: #e6efff;">Holding Company</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom;">Phantom Distribution, LLC</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom;">Cannabis distributor</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; background-color: #e6efff;">63353 Bend, LLC</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom; background-color: #e6efff;">Cannabis producer</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom;">20727-4 Bend, LLC</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom;">Cannabis processor</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; background-color: #e6efff;">4964 BFH, LLC</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom; background-color: #e6efff;">Cannabis producer</td> </tr> <tr> <td style="width: 30.98%; padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000;">Workforce Concepts 21, Inc.</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: center;">USA</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 7.2pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: center;">100%</td> <td style="width: 14.16%; padding-right: 5.4pt; padding-left: 6.9pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: center;">USD</td> <td style="width: 26.52%; padding-right: 5.4pt; padding-left: 7.35pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000;">Payroll and benefits services</td> </tr> </table>

<div> <div> 3. SIGNIFICANT ACCOUNTING POLICIES <div> Significant accounting estimates and assumptions The preparation of the Company's financial statements in conformity with U.S. GAAP requires management to make judgments, estimates and assumptions that affect the reported amounts of assets, liabilities and contingent liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Estimates and assumptions are continuously evaluated and are based on management's experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from those estimates and judgments. Areas requiring a significant degree of estimation and judgment relate to the determination of fair values of assets acquired and liabilities assumed in business combinations, impairment of long-lived assets and inventory, fair value measurements, useful lives, depreciation and amortization of property, equipment and intangible assets, the recoverability and measurement of deferred tax assets and liabilities, share-based compensation, and fair value of derivative liabilities. </div> <div> Cash Cash held in financial institutions and cash held at retail locations, have carrying values that approximate fair value. </div> <div> Foreign currency translation Foreign currency transactions are translated into U.S. dollars at exchange rates in effect on the date of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rate at the reporting date. All differences are recorded in the consolidated statement of comprehensive loss. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the initial transaction. Non-monetary items measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value is determined. Assets and liabilities of foreign operations are translated into U.S. dollars at year-end exchange rates and any revenue and expenses are translated at the average exchange rate for the year. The resulting exchange differences are recognized in other comprehensive loss. </div> <div> <div> Inventory Inventory consists of raw materials, consumables and packaging supplies used in the process to prepare inventory for sale; work in process consisting of pre-harvested cannabis plants, by-products to be extracted, oils and terpenes; and finished goods. Inventory is valued at the lower of cost and net realizable value, with cost determined using the weighted average cost method. Net realizable value is calculated as the estimated selling price in the ordinary course of business, less any estimated costs to complete and sell the goods. Costs are capitalized to inventory, until substantially ready for sale. Costs include direct and indirect labor, raw materials, consumables, packaging supplies, utilities, facility costs, quality and testing costs, production related depreciation and other overhead costs. The Company records inventory reserves for obsolete and slow-moving inventory. Inventory reserves are based on inventory obsolescence trends, and the historical and professional experience of management. The Company classifies cannabis inventory as a current asset, although, due to the duration of the cultivation, drying, and conversion process, certain inventory items may not be realized in cost of sales within one year. </div> </div> </div> <div> </div> <div> <div> Property and equipment Property and equipment is measured at cost less accumulated depreciation and losses on impairment. Depreciation is provided on the straight-line basis over the estimated useful lives of the assets as follows: <div> Buildings 45 years Leasehold improvements shorter of the life of the improvement or the remaining life of the lease Furniture & fixtures 5 years Computer equipment 3 years Machinery & equipment 2-7 years </div> </div> <div> Intangible assets Intangible assets with finite useful lives are amortized on a straight-line basis over their estimated useful lives. Amortization of intangible assets begins when the asset becomes available for use. Brands, licenses, and customer relationships are amortized over 10 years, which reflect the estimated useful lives of the intangible assets. </div> <div> Goodwill and indefinite lived Intangible assets Intangible assets are recorded at cost less accumulated amortization and accumulated impairment losses, if any. Intangible assets acquired in a business combination are measured at fair value at the acquisition date. Goodwill represents the excess of the purchase price paid for the acquisition of subsidiaries over the fair value of the net intangible and tangible assets acquired. Following the initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill is allocated to the reporting unit in which the business that created the goodwill resides. A reporting unit is an operating segment, or a business unit one level below that operating segment, for which discrete financial information is prepared and regularly reviewed by segment management. The Company's goodwill is part of the Nevada reporting unit. Goodwill is tested annually for any impairment, or more frequently in the case that events or circumstances indicate that the carrying amount of a reporting unit may not be recoverable. The Company may elect to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If factors indicate this is the case, then a quantitative test is performed and an impairment is recorded for any excess carrying value above the reporting unit's fair value, not to exceed the amount of goodwill. For the year ended January 31, 2021, the recoverable amount of goodwill allocated to the Nevada reporting unit exceeded its carrying amount and as such, no impairment was noted. </div> </div> <div> <div> <div> Impairment of long-lived assets Long-lived assets include property and equipment, right-of-use assets, and intangible assets with finite useful lives. At the end of each fiscal year, the Company reviews the intangible assets' estimated useful lives and amortization methods, with the effect of any changes in estimates accounted for on a prospective basis. </div> </div> <div> </div> <div> Long-lived assets are reviewed for indicators of impairment at each statement of balance sheet date or whenever events or changes in circumstances indicate that a potential impairment has occurred. The Company groups assets at the lowest level for which cash flows are separately identifiable, referred to as an asset group. When indicators of potential impairment are present the Company prepares a projected undiscounted cash flow analysis to determine the recoverable amount for the respective asset or asset group. An impairment loss is recognized whenever the carrying amount of the asset exceeds its recoverable amount and is recorded as in profit or loss equal to the amount by which the carrying amount exceeds the fair value. </div> </div> <div> <div> Assets and liabilities held for sale Non-current assets, or disposal groups comprising assets and liabilities, are classified as held for sale if it is highly probable that they will be recovered primarily through sale rather than through continuing use. Such assets, or disposal groups, are measured at the lower of their carrying amount and fair value less costs to sell. The comparative consolidated balance sheet is re-presented to classify assets as held for sale in the period that the respective assets are classified as held for sale. </div> <div> Business combinations Acquisitions are accounted for in accordance with ASC 805 - Business Combinations, with the assets and liabilities acquired recorded at their fair values at the acquisition date. The Company is required to allocate the purchase price to tangible and identifiable intangible assets acquired and liabilities assumed based on their fair values. The excess of the purchase price over those fair values of the net assets acquired is recorded as goodwill. Any excess of the fair value of the net assets acquired over the consideration, is a gain on business acquisition and would be recognized as a gain in the consolidated statement of loss and comprehensive loss. </div> <div> Convertible instruments In August 2020, the Financial Accounting Standards Board ("FASB") issued Accounting standards update 2020-06-debt-debt with conversion and other options (subtopic 470-20) and derivatives and hedging-contracts in entity's own equity (subtopic 815-40): accounting for convertible instruments and contracts in an entity's own equity, an update to simplify the accounting for convertible debt and other equity-linked instruments. The new guidance simplifies the accounting for convertible instruments by eliminating the cash conversion and beneficial conversion feature models used to separately account for embedded conversion features as a component of equity. Instead, the Company will account for the convertible debt as a single unit of account, unless the conversion feature requires bifurcation and recognition as a derivative. Additionally, the guidance requires the Company to use the if-converted method for all convertible instruments in the diluted earnings per share calculation and include the effect of potential share settlement for instruments that may be settled in cash or shares. The Company early adopted this new guidance using the full retrospective method as of February 1, 2020. The adoption of this new guidance did not have a material impact on the Company's consolidated financial statements and there was no impact to the number of potentially dilutive shares in each of the periods presented. </div> </div> <div> </div> <div> <div> Leases In February 2016, the FASB issued ASU 2016-02, Leases ("ASC 842"), a standard that requires lessees to increase transparency and comparability among organizations by requiring the recognition of right-of-use assets and lease liabilities on the balance sheet. The requirements of this standard include a significant increase in required disclosures to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. The FASB has issued several amendments and practical expedients to the standard, including clarifying guidance, transition relief on comparative reporting at adoption, a practical expedient, which allows lessees to elect as an accounting policy not to apply the provisions of ASC 842 to short term leases, and codification improvements to clarify that lessees and lessors are exempt from certain interim disclosure requirement associated with adopting the new leases standard. The standard was adopted by the Company beginning February 1, 2020 and the standard was adopted using the modified retrospective transition approach, which allows the Company to recognize a cumulative effect adjustment to the opening balance of accumulated deficit in the period of adoption rather than restate comparative prior year periods. The cumulative effect adjustment to the opening balance of accumulated deficit was $nil. The Company has elected not to recognize right-of-use assets and liabilities for short-term leases that have a term of 12 months or less. Upon commencement of a contract containing a lease, the Company classifies leases other than short-term leases as either an operating lease or a finance lease according to the criteria prescribed by ASC 842. The lease classification is reassessed only when: (a) the contract is modified and the modification is not accounted for as a separate contract, and (b) there is a change in the lease term or the assessment of whether the lessee is reasonably certain to exercise an option to purchase the underlying asset. For both finance leases and operating leases, right-of-use assets and lease liabilities are initially measured as the present value of future lease payments and initial direct costs discounted at the interest rate implicit in the lease, or if that rate is not readily determinable, the Company's incremental borrowing rate. Subsequent measurement of lease liabilities classified as finance leases is at amortized cost using the effective interest rate method. Subsequent measurement of right-of-use assets classified as finance leases is at carrying amount less accumulated amortization, where amortization is recorded straight-line over the lease term. Subsequent measurement of lease liabilities classified as operating leases is at the present value of the unpaid lease payments discounted at the discount rate for the lease established at the commencement date. Subsequent measurement of right-of-use assets classified as operating leases is carrying amount less accumulated amortization where amortization is calculated as the difference between straight-line lease cost for the period, including amortization of initial direct costs, and the periodic accretion of the lease liability. </div> </div> <div> <div> <div> Financial instruments Financial instruments are contracts that give rise to a financial asset of one party and a financial liability or equity instrument of another party. Financial instruments are recorded initially at fair value, which is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Subsequent measurement depends on how the financial instrument has been classified and may be at fair value or amortized cost. For financial instruments subsequently measured at fair value, the Company calculates the estimated fair value of financial instruments using quoted market prices whenever available. When quoted market prices are not available, the Company uses standard pricing models including the Black-Scholes option pricing model. </div> </div> <div> </div> <div> <div> Financial instruments measured at fair value are classified into one of three levels in the fair value hierarchy according to the relative reliability of the inputs used to estimate the fair values. The three levels of the fair value hierarchy are: Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities; Level 2 - Inputs other than quoted prices that are observable for the asset or liability either directly (i.e. as prices) or indirectly (i.e. derived from prices); and Level 3 - Inputs that are not based on observable market data. There have been no transfers between fair value hierarchy levels during the year ended January 31, 2021. The Company's measures the derivative liability at fair value using Level 3 inputs. The Company's cash, receivables, accounts payable and accrued liabilities, and income taxes payable are recorded at cost. The carrying values of these financial instruments approximate their fair value due to their short-term maturities. Unless otherwise noted, it is management's opinion that the Company is not exposed to significant interest or credit risks arising from these financial instruments. Financial instruments subsequently measured at amortized cost include promissory note payable, and reclamation obligation. </div> </div> </div> <div> <div> Share-based compensation The Company measures equity settled share-based payments based on their fair value at their grant date and recognizes share-based compensation expense over the vesting period based on the Company's estimate of equity instruments that will eventually vest. Consideration paid to the Company on the exercise of stock options is recorded as common stock. </div> <div> Income taxes The Company uses the asset and liability method to account for income taxes. Deferred income tax assets and liabilities are determined based on enacted tax rates and laws for the years in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. As the Company operates in the cannabis industry, it is subject to the limits of IRC Section 280E under which the Company is only allowed to deduct expenses directly related to the cost of producing the products or cost of production. The Company recognizes uncertain income tax positions at the largest amount that is more-likely-than-not to be sustained upon examination by the relevant taxing authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. Recognition or measurement is reflected in the period in which the likelihood changes. Any interest and penalties related to unrecognized tax liabilities are presented within income tax expense in the consolidated statement of comprehensive loss. </div> </div> <div> </div> <div> <div> loss per share The Company presents basic and diluted loss per share data for its common shares. Basic loss per share is calculated using the weighted average number of shares outstanding during the respective years. Diluted loss per share is computed by dividing net loss by the weighted average shares outstanding adjusted for additional shares from the assumed exercise of stock options, restricted share units, or warrants, if dilutive. The number of additional shares is calculated by assuming the outstanding dilutive convertible instruments, options, and warrants are exercised and that the assumed proceeds are used to acquire common shares at the average market price during the year. Diluted loss per share figures for the years presented are equal to those of basic loss per share for the years since the effects of convertible instruments, stock options and warrants are anti-dilutive. </div> <div> Revenue recognition Revenue is recognized by the Company in accordance with ASC 606. Through application of the standard, the Company recognizes revenue to depict the transfer of promised goods or services to the customer in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. In order to recognize revenue under ASC 606, the Company applies the following five steps: 1. Identify a customer along with a corresponding contract 2. Identify the performance obligation(s) in the contract to transfer goods or provide distinct services to a customer 3. Determine the transaction price that the Company expects to be entitled to in exchange for transferring promised goods or services to a customer 4. Allocate the transaction price to the performance obligation(s) in the contract 5. Recognize revenue when or as the Company satisfies the performance obligation(s) in the contract The Company's contracts with customers for the sale of dried cannabis and other products derived from cannabis consist of one performance obligation, being the transfer of control of the goods to the customer at the point of sale. The Company transfers control and satisfies its performance obligation when collection has taken place, compliant documentation has been signed, and the product was accepted by the buyer. The Company does not have performance obligations subsequent to delivery on the sale of goods to customers and revenues from sale of goods are recognized at a "point in time", which is upon passing of control to the customer. Transaction costs associated with a business combination, (i.e., other than those associated with the issuance of debt or equity), are expensed as incurred as a line item in the consolidated statement of loss and comprehensive loss. </div> </div> <div> </div> <div> <div> Reclamation obligation The Company recognizes the fair value of a legal or constructive liability for a reclamation obligation in the year in which it is incurred and when a reasonable estimate of fair value can be made. The carrying amount of the related long-lived asset is increased by the same amount as the liability. Changes in the liability for a reclamation obligation due to the passage of time will be recognized within accretion expense. The amount will be recognized as an increase in the liability and an accretion expense in the consolidated statements comprehensive loss. Changes resulting from revisions to the timing or the amount of the original estimate of undiscounted cash flows are recognized as an increase or a decrease to the carrying amount of the liability and the related long-lived asset. </div> </div> <div> <div> <div> Recently issued accounting pronouncements Recent accounting pronouncements, other than those below, issued by the FASB, the American Institute of Certified Public Accountants("AICPA") and the U.S. Securities and Exchange Commission ("SEC") did not or are not believed by management to have a material effect on the Company's present or future financial statements. Debt In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options ("ASU 2020-06"), (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40). ASU 2020-06 simplifies the accounting for certain financial instruments with characteristics of liabilities and equity. The FASB reduced the number of accounting models for convertible debt and convertible preferred stock instruments and made certain disclosure amendments to improve the information provided to users. In addition, the FASB amended the derivative guidance for the own stock scope exception and certain aspects of the earnings-per-share guidance. The amendments are effective for interim and annual periods beginning after December 15, 2021, with early adoption permitted for after December 15, 2020. The Company early adopted this new guidance using the full retrospective method as of February 1, 2020. Leases In February 2016, the FASB issued new guidance on the recognition and measurement of leases, ASC 842 - Leases. Under this guidance, a lessee recognizes assets and liabilities on its balance sheet for most leases. Lease expense continues to be consistent with previous guidance. Additionally, this guidance requires enhanced disclosures regarding the amount, timing, and uncertainty of cash flows arising from leasing arrangements. The Company adopted this guidance effective February 1, 2020 using the modified retrospective transition method and comparative year ended January 31, 2021. The adoption of this guidance resulted in the recognition of operating lease right-of-use assets of $5,001,360, and $5,001,360 of lease liabilities, with a $nil impact on deficit. The transition to ASC 842 did not have a material impact on the Company's results of operations or liquidity. When measuring lease liabilities, the Company used its incremental borrowing rate, estimated at 10%. Revenue In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers ("ASU 2014-09"), which provides a single comprehensive model for accounting for revenue from contracts with customers and supersedes nearly all previously existing revenue recognition guidance. The core principle of ASU 2014-09 is that an entity should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company adopted the standard as of February 1, 2020. There was no impact of adopting ASU 2014-09 on the consolidated financial statements. </div> </div> <div> </div> <div> <div> Financial instruments In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. ASU 2016-13 requires the measurement of current expected credit losses for financial assets held at the reporting date based on historical experience, current conditions and reasonable and supportable forecasts. Adoption of ASU 2016-13 will require financial institutions and other organizations to use forward-looking information to better formulate their credit loss estimates. In addition, the ASU amends the accounting for credit losses on available for sale debt securities and purchased financial assets with credit deterioration. This update is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company adopted ASU 2016-13 on February 1, 2020 and adoption did not have a material impact on the Company's consolidated financial statements. Fair value measurement In August 2018, the FASB issued ASU 2018-13, Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement (Topic 820). ASU 2018-13 adds, modifies, and removes certain fair value measurement disclosure requirements. ASU 2018-13 is effective for annual and interim periods beginning after December 15, 2019. Early adoption is permitted. The Company adopted ASU 2018-13 on February 1, 2020 and the adoption did not have a material impact on the Company's consolidated financial statements. Income taxes In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740) - Simplifying the Accounting for Income Taxes, which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. ASU 2019-12 is effective for fiscal years beginning after December 15, 2020 and was adopted on February 1, 2021 and the adoption did not have a material impact on the Company's consolidated financial statements. </div> </div> </div> </div>

<div> Significant accounting estimates and assumptions The preparation of the Company's financial statements in conformity with U.S. GAAP requires management to make judgments, estimates and assumptions that affect the reported amounts of assets, liabilities and contingent liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Estimates and assumptions are continuously evaluated and are based on management's experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from those estimates and judgments. Areas requiring a significant degree of estimation and judgment relate to the determination of fair values of assets acquired and liabilities assumed in business combinations, impairment of long-lived assets and inventory, fair value measurements, useful lives, depreciation and amortization of property, equipment and intangible assets, the recoverability and measurement of deferred tax assets and liabilities, share-based compensation, and fair value of derivative liabilities. </div>

<div> Cash Cash held in financial institutions and cash held at retail locations, have carrying values that approximate fair value. </div>

<div> Foreign currency translation Foreign currency transactions are translated into U.S. dollars at exchange rates in effect on the date of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rate at the reporting date. All differences are recorded in the consolidated statement of comprehensive loss. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the initial transaction. Non-monetary items measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value is determined. Assets and liabilities of foreign operations are translated into U.S. dollars at year-end exchange rates and any revenue and expenses are translated at the average exchange rate for the year. The resulting exchange differences are recognized in other comprehensive loss. </div>

<div> Inventory Inventory consists of raw materials, consumables and packaging supplies used in the process to prepare inventory for sale; work in process consisting of pre-harvested cannabis plants, by-products to be extracted, oils and terpenes; and finished goods. Inventory is valued at the lower of cost and net realizable value, with cost determined using the weighted average cost method. Net realizable value is calculated as the estimated selling price in the ordinary course of business, less any estimated costs to complete and sell the goods. Costs are capitalized to inventory, until substantially ready for sale. Costs include direct and indirect labor, raw materials, consumables, packaging supplies, utilities, facility costs, quality and testing costs, production related depreciation and other overhead costs. The Company records inventory reserves for obsolete and slow-moving inventory. Inventory reserves are based on inventory obsolescence trends, and the historical and professional experience of management. The Company classifies cannabis inventory as a current asset, although, due to the duration of the cultivation, drying, and conversion process, certain inventory items may not be realized in cost of sales within one year. </div>

<div> Property and equipment Property and equipment is measured at cost less accumulated depreciation and losses on impairment. Depreciation is provided on the straight-line basis over the estimated useful lives of the assets as follows: <div> Buildings 45 years Leasehold improvements shorter of the life of the improvement or the remaining life of the lease Furniture & fixtures 5 years Computer equipment 3 years Machinery & equipment 2-7 years </div> </div>

<div> Buildings 45 years Leasehold improvements shorter of the life of the improvement or the remaining life of the lease Furniture & fixtures 5 years Computer equipment 3 years Machinery & equipment 2-7 years </div>

P45Y

shorter of the life of the improvement or the remaining life of the lease

P5Y

P3Y

P2Y

P7Y

<div> Intangible assets Intangible assets with finite useful lives are amortized on a straight-line basis over their estimated useful lives. Amortization of intangible assets begins when the asset becomes available for use. Brands, licenses, and customer relationships are amortized over 10 years, which reflect the estimated useful lives of the intangible assets. </div>

P10Y

<div> Goodwill and indefinite lived Intangible assets Intangible assets are recorded at cost less accumulated amortization and accumulated impairment losses, if any. Intangible assets acquired in a business combination are measured at fair value at the acquisition date. Goodwill represents the excess of the purchase price paid for the acquisition of subsidiaries over the fair value of the net intangible and tangible assets acquired. Following the initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill is allocated to the reporting unit in which the business that created the goodwill resides. A reporting unit is an operating segment, or a business unit one level below that operating segment, for which discrete financial information is prepared and regularly reviewed by segment management. The Company's goodwill is part of the Nevada reporting unit. Goodwill is tested annually for any impairment, or more frequently in the case that events or circumstances indicate that the carrying amount of a reporting unit may not be recoverable. The Company may elect to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If factors indicate this is the case, then a quantitative test is performed and an impairment is recorded for any excess carrying value above the reporting unit's fair value, not to exceed the amount of goodwill. For the year ended January 31, 2021, the recoverable amount of goodwill allocated to the Nevada reporting unit exceeded its carrying amount and as such, no impairment was noted. </div>

<div> Assets and liabilities held for sale Non-current assets, or disposal groups comprising assets and liabilities, are classified as held for sale if it is highly probable that they will be recovered primarily through sale rather than through continuing use. Such assets, or disposal groups, are measured at the lower of their carrying amount and fair value less costs to sell. The comparative consolidated balance sheet is re-presented to classify assets as held for sale in the period that the respective assets are classified as held for sale. </div>

<div> Business combinations Acquisitions are accounted for in accordance with ASC 805 - Business Combinations, with the assets and liabilities acquired recorded at their fair values at the acquisition date. The Company is required to allocate the purchase price to tangible and identifiable intangible assets acquired and liabilities assumed based on their fair values. The excess of the purchase price over those fair values of the net assets acquired is recorded as goodwill. Any excess of the fair value of the net assets acquired over the consideration, is a gain on business acquisition and would be recognized as a gain in the consolidated statement of loss and comprehensive loss. </div>

<div> Convertible instruments In August 2020, the Financial Accounting Standards Board ("FASB") issued Accounting standards update 2020-06-debt-debt with conversion and other options (subtopic 470-20) and derivatives and hedging-contracts in entity's own equity (subtopic 815-40): accounting for convertible instruments and contracts in an entity's own equity, an update to simplify the accounting for convertible debt and other equity-linked instruments. The new guidance simplifies the accounting for convertible instruments by eliminating the cash conversion and beneficial conversion feature models used to separately account for embedded conversion features as a component of equity. Instead, the Company will account for the convertible debt as a single unit of account, unless the conversion feature requires bifurcation and recognition as a derivative. Additionally, the guidance requires the Company to use the if-converted method for all convertible instruments in the diluted earnings per share calculation and include the effect of potential share settlement for instruments that may be settled in cash or shares. The Company early adopted this new guidance using the full retrospective method as of February 1, 2020. The adoption of this new guidance did not have a material impact on the Company's consolidated financial statements and there was no impact to the number of potentially dilutive shares in each of the periods presented. </div>

<div> Leases In February 2016, the FASB issued ASU 2016-02, Leases ("ASC 842"), a standard that requires lessees to increase transparency and comparability among organizations by requiring the recognition of right-of-use assets and lease liabilities on the balance sheet. The requirements of this standard include a significant increase in required disclosures to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. The FASB has issued several amendments and practical expedients to the standard, including clarifying guidance, transition relief on comparative reporting at adoption, a practical expedient, which allows lessees to elect as an accounting policy not to apply the provisions of ASC 842 to short term leases, and codification improvements to clarify that lessees and lessors are exempt from certain interim disclosure requirement associated with adopting the new leases standard. The standard was adopted by the Company beginning February 1, 2020 and the standard was adopted using the modified retrospective transition approach, which allows the Company to recognize a cumulative effect adjustment to the opening balance of accumulated deficit in the period of adoption rather than restate comparative prior year periods. The cumulative effect adjustment to the opening balance of accumulated deficit was $nil. The Company has elected not to recognize right-of-use assets and liabilities for short-term leases that have a term of 12 months or less. Upon commencement of a contract containing a lease, the Company classifies leases other than short-term leases as either an operating lease or a finance lease according to the criteria prescribed by ASC 842. The lease classification is reassessed only when: (a) the contract is modified and the modification is not accounted for as a separate contract, and (b) there is a change in the lease term or the assessment of whether the lessee is reasonably certain to exercise an option to purchase the underlying asset. For both finance leases and operating leases, right-of-use assets and lease liabilities are initially measured as the present value of future lease payments and initial direct costs discounted at the interest rate implicit in the lease, or if that rate is not readily determinable, the Company's incremental borrowing rate. Subsequent measurement of lease liabilities classified as finance leases is at amortized cost using the effective interest rate method. Subsequent measurement of right-of-use assets classified as finance leases is at carrying amount less accumulated amortization, where amortization is recorded straight-line over the lease term. Subsequent measurement of lease liabilities classified as operating leases is at the present value of the unpaid lease payments discounted at the discount rate for the lease established at the commencement date. Subsequent measurement of right-of-use assets classified as operating leases is carrying amount less accumulated amortization where amortization is calculated as the difference between straight-line lease cost for the period, including amortization of initial direct costs, and the periodic accretion of the lease liability. </div>

<div> Share-based compensation The Company measures equity settled share-based payments based on their fair value at their grant date and recognizes share-based compensation expense over the vesting period based on the Company's estimate of equity instruments that will eventually vest. Consideration paid to the Company on the exercise of stock options is recorded as common stock. </div>

<div> Income taxes The Company uses the asset and liability method to account for income taxes. Deferred income tax assets and liabilities are determined based on enacted tax rates and laws for the years in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. As the Company operates in the cannabis industry, it is subject to the limits of IRC Section 280E under which the Company is only allowed to deduct expenses directly related to the cost of producing the products or cost of production. The Company recognizes uncertain income tax positions at the largest amount that is more-likely-than-not to be sustained upon examination by the relevant taxing authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. Recognition or measurement is reflected in the period in which the likelihood changes. Any interest and penalties related to unrecognized tax liabilities are presented within income tax expense in the consolidated statement of comprehensive loss. </div>

<div> loss per share The Company presents basic and diluted loss per share data for its common shares. Basic loss per share is calculated using the weighted average number of shares outstanding during the respective years. Diluted loss per share is computed by dividing net loss by the weighted average shares outstanding adjusted for additional shares from the assumed exercise of stock options, restricted share units, or warrants, if dilutive. The number of additional shares is calculated by assuming the outstanding dilutive convertible instruments, options, and warrants are exercised and that the assumed proceeds are used to acquire common shares at the average market price during the year. Diluted loss per share figures for the years presented are equal to those of basic loss per share for the years since the effects of convertible instruments, stock options and warrants are anti-dilutive. </div>

<div> Revenue recognition Revenue is recognized by the Company in accordance with ASC 606. Through application of the standard, the Company recognizes revenue to depict the transfer of promised goods or services to the customer in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. In order to recognize revenue under ASC 606, the Company applies the following five steps: 1. Identify a customer along with a corresponding contract 2. Identify the performance obligation(s) in the contract to transfer goods or provide distinct services to a customer 3. Determine the transaction price that the Company expects to be entitled to in exchange for transferring promised goods or services to a customer 4. Allocate the transaction price to the performance obligation(s) in the contract 5. Recognize revenue when or as the Company satisfies the performance obligation(s) in the contract The Company's contracts with customers for the sale of dried cannabis and other products derived from cannabis consist of one performance obligation, being the transfer of control of the goods to the customer at the point of sale. The Company transfers control and satisfies its performance obligation when collection has taken place, compliant documentation has been signed, and the product was accepted by the buyer. The Company does not have performance obligations subsequent to delivery on the sale of goods to customers and revenues from sale of goods are recognized at a "point in time", which is upon passing of control to the customer. Transaction costs associated with a business combination, (i.e., other than those associated with the issuance of debt or equity), are expensed as incurred as a line item in the consolidated statement of loss and comprehensive loss. </div>

<div> Reclamation obligation The Company recognizes the fair value of a legal or constructive liability for a reclamation obligation in the year in which it is incurred and when a reasonable estimate of fair value can be made. The carrying amount of the related long-lived asset is increased by the same amount as the liability. Changes in the liability for a reclamation obligation due to the passage of time will be recognized within accretion expense. The amount will be recognized as an increase in the liability and an accretion expense in the consolidated statements comprehensive loss. Changes resulting from revisions to the timing or the amount of the original estimate of undiscounted cash flows are recognized as an increase or a decrease to the carrying amount of the liability and the related long-lived asset. </div>

<div> <div> <div> Recently issued accounting pronouncements Recent accounting pronouncements, other than those below, issued by the FASB, the American Institute of Certified Public Accountants("AICPA") and the U.S. Securities and Exchange Commission ("SEC") did not or are not believed by management to have a material effect on the Company's present or future financial statements. Debt In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options ("ASU 2020-06"), (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40). ASU 2020-06 simplifies the accounting for certain financial instruments with characteristics of liabilities and equity. The FASB reduced the number of accounting models for convertible debt and convertible preferred stock instruments and made certain disclosure amendments to improve the information provided to users. In addition, the FASB amended the derivative guidance for the own stock scope exception and certain aspects of the earnings-per-share guidance. The amendments are effective for interim and annual periods beginning after December 15, 2021, with early adoption permitted for after December 15, 2020. The Company early adopted this new guidance using the full retrospective method as of February 1, 2020. Leases In February 2016, the FASB issued new guidance on the recognition and measurement of leases, ASC 842 - Leases. Under this guidance, a lessee recognizes assets and liabilities on its balance sheet for most leases. Lease expense continues to be consistent with previous guidance. Additionally, this guidance requires enhanced disclosures regarding the amount, timing, and uncertainty of cash flows arising from leasing arrangements. The Company adopted this guidance effective February 1, 2020 using the modified retrospective transition method and comparative year ended January 31, 2021. The adoption of this guidance resulted in the recognition of operating lease right-of-use assets of $5,001,360, and $5,001,360 of lease liabilities, with a $nil impact on deficit. The transition to ASC 842 did not have a material impact on the Company's results of operations or liquidity. When measuring lease liabilities, the Company used its incremental borrowing rate, estimated at 10%. Revenue In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers ("ASU 2014-09"), which provides a single comprehensive model for accounting for revenue from contracts with customers and supersedes nearly all previously existing revenue recognition guidance. The core principle of ASU 2014-09 is that an entity should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company adopted the standard as of February 1, 2020. There was no impact of adopting ASU 2014-09 on the consolidated financial statements. </div> </div> <div> </div> <div> <div> Financial instruments In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. ASU 2016-13 requires the measurement of current expected credit losses for financial assets held at the reporting date based on historical experience, current conditions and reasonable and supportable forecasts. Adoption of ASU 2016-13 will require financial institutions and other organizations to use forward-looking information to better formulate their credit loss estimates. In addition, the ASU amends the accounting for credit losses on available for sale debt securities and purchased financial assets with credit deterioration. This update is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company adopted ASU 2016-13 on February 1, 2020 and adoption did not have a material impact on the Company's consolidated financial statements. Fair value measurement In August 2018, the FASB issued ASU 2018-13, Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement (Topic 820). ASU 2018-13 adds, modifies, and removes certain fair value measurement disclosure requirements. ASU 2018-13 is effective for annual and interim periods beginning after December 15, 2019. Early adoption is permitted. The Company adopted ASU 2018-13 on February 1, 2020 and the adoption did not have a material impact on the Company's consolidated financial statements. Income taxes In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740) - Simplifying the Accounting for Income Taxes, which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. ASU 2019-12 is effective for fiscal years beginning after December 15, 2020 and was adopted on February 1, 2021 and the adoption did not have a material impact on the Company's consolidated financial statements. </div> </div> </div>

<div> <div> <div> 4. DISCONTINUED OPERATIONS As a result of non-profitable operations in the Oregon reporting unit, the Company began to wind down operations in Oregon beginning in the year ended January 31, 2021. At January 31, 2021, the Company classified the assets and liabilities in Swell and Megawood as held for sale and completed the sale of these assets in April 2021. By January 31, 2022, the Company made the decision to cease all growing, manufacturing, and processing activities in Bend, Oregon. As the Oregon reporting unit comprises the assets of multiple components in distinct geographic locations, management anticipates completing the sale on a piecemeal basis. Management is engaged in an active program to seek buyers for the major classes of assets and liabilities in Oregon in order to complete a sale in the next twelve months. Remaining inventory on hand at January 31, 2021 had an estimated aggregate net realizable value of approximately $1,296,009. For the year ended January 31, 2021, net loss from discontinued operations included impairment of inventory in Oregon in the amount of $1,384,922 in order to report inventory at its net realizable value. Subsequent to January 31, 2021, the Company sold the remaining Oregon inventory on July 20, 2022. Prepaid expenses classified as held for sale primarily relates to the renewal of licenses that may be transferred in the event of a sale. Otherwise, prepaid expenses will be expensed within loss from discontinued operations over the next twelve months. </div> </div> <div> </div> <div> <div> For the year ended January 31, 2021, the Company recorded a provision for expected credit losses on previously recorded management fees receivable of $nil. Long-term debt consists of vehicle loans and a building mortgage. The mortgage began on February 1, 2015 and matures on January 1, 2035 (20 years). The mortgage bears interest at a fixed rate of 4.5% with payments made monthly. The equipment and vehicle loans consist of three loans with maturity dates ranging from June 1, 2021 through May 15, 2023 and interest rates ranging from 5.59% to 19.9% with payments made monthly. The following table summarizes the major classes of assets and liabilities of the discontinued Oregon operation that have been classified as held-for-sale in the consolidated balance sheet: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-left: 12pt; text-indent: -8pt; background-color: #e6efff;">Carrying amounts of the major classes of assets included in discontinued operations:</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 12pt; text-indent: -8pt;">Receivables</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">93,855</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 12pt; text-indent: -8pt; background-color: #e6efff;">Inventory</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,296,009</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 12pt; text-indent: -8pt;">Prepaid expenses and deposits</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">153,904</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 12pt; text-indent: -8pt; background-color: #e6efff;">Deferred tax asset</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">109,753</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 12pt; text-indent: -8pt;">Property and equipment</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,895,572</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 12pt; text-indent: -8pt; background-color: #e6efff;">Right-of-use assets</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,074,930</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 12pt; text-indent: -8pt;">Intangible assets</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">182,137</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify; padding-left: 12pt; text-indent: -8pt; background-color: #e6efff;">Total assets classified as held for sale</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">4,806,160</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify; padding-left: 12pt; text-indent: -8pt;">Current portion of assets classified as held for sale</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">(1,492,826</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: justify; padding-left: 12pt; text-indent: -8pt; background-color: #e6efff;">Non-current portion of assets classified as held for sale</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">3,313,334</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 12pt; text-indent: -8pt;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-left: 12pt; text-indent: -8pt; background-color: #e6efff;">Carrying amounts of the major classes of liabilities included in discontinued operations:</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 12pt; text-indent: -8pt;">Lease liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,217,499</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 12pt; text-indent: -8pt; background-color: #e6efff;">Long-term debt</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">543,330</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 12pt; text-indent: -8pt;">Total liabilities classified as held for sale</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">1,760,829</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 12pt; text-indent: -8pt; background-color: #e6efff;">Current portion of liabilities classified as held for sale</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">(628,171</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; padding-left: 12pt; text-indent: -8pt;">Non-current portion of liabilities classified as held for sale</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">1,132,658</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> In connection with the wind-down of operations, the Company concluded that the customer relationship intangible asset held in the Oregon reporting unit had no value and recognized $ nil of impairment. Other expenses for the year ended January 31, 2021 included interest expense of $183,404, acquisition re-organization costs of $1,204,740, and impairment on capital assets of $116,881, offset by other income of $231,212. </div> </div> <div> </div> <div> <div> The following table provides the major classes of line items constituting pre-tax loss from discontinued operations: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Revenue</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">2,661,223</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Cost of sales</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">2,393,417</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Gross margin</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">267,806</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Expenses</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">General and administration</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">630,691</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Provision for expected credit losses</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Sales, marketing, and promotion</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">27,933</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Operating lease cost</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">56,650</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Depreciation and amortization</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">378,113</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Impairment of inventory</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,384,922</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Impairment of intangible asset</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Other expenses</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,273,813</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Net loss from discontinued operations before income taxes</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">(3,484,316</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Income tax expense</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">256,260</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Net loss from discontinued operations after income taxes</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">(3,228,056</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;">)</td> </tr> </table> The following table summarizes the cash flows from discontinued operations: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 12pt; vertical-align: bottom; text-indent: -8pt; background-color: #e6efff;">Net cash (used in) provided by operating activities of discontinued operations</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">241,753</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 12pt; vertical-align: bottom; text-indent: -8pt;">Net cash provided by investing activities of discontinued operations</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">100,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 12pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-indent: -8pt; background-color: #e6efff;">Net cash used in financing activities of discontinued operations</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">(119,914</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> </table> </div> </div> </div>

1296009

1384922 0

P20Y

0.045

interest rates ranging from 5.59% to 19.9% with payments made monthly

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-left: 12pt; text-indent: -8pt; background-color: #e6efff;">Carrying amounts of the major classes of assets included in discontinued operations:</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 12pt; text-indent: -8pt;">Receivables</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">93,855</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 12pt; text-indent: -8pt; background-color: #e6efff;">Inventory</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,296,009</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 12pt; text-indent: -8pt;">Prepaid expenses and deposits</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">153,904</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 12pt; text-indent: -8pt; background-color: #e6efff;">Deferred tax asset</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">109,753</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 12pt; text-indent: -8pt;">Property and equipment</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,895,572</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 12pt; text-indent: -8pt; background-color: #e6efff;">Right-of-use assets</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,074,930</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 12pt; text-indent: -8pt;">Intangible assets</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">182,137</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify; padding-left: 12pt; text-indent: -8pt; background-color: #e6efff;">Total assets classified as held for sale</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">4,806,160</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify; padding-left: 12pt; text-indent: -8pt;">Current portion of assets classified as held for sale</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">(1,492,826</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: justify; padding-left: 12pt; text-indent: -8pt; background-color: #e6efff;">Non-current portion of assets classified as held for sale</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">3,313,334</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 12pt; text-indent: -8pt;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-left: 12pt; text-indent: -8pt; background-color: #e6efff;">Carrying amounts of the major classes of liabilities included in discontinued operations:</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 12pt; text-indent: -8pt;">Lease liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,217,499</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 12pt; text-indent: -8pt; background-color: #e6efff;">Long-term debt</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">543,330</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 12pt; text-indent: -8pt;">Total liabilities classified as held for sale</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">1,760,829</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 12pt; text-indent: -8pt; background-color: #e6efff;">Current portion of liabilities classified as held for sale</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">(628,171</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; padding-left: 12pt; text-indent: -8pt;">Non-current portion of liabilities classified as held for sale</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">1,132,658</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table>

93855

1296009

153904

109753

1895572

1074930

182137

4806160

1492826

3313334

1217499 543330

1760829

628171

1132658

183404

1204740

116881

231212

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Revenue</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">2,661,223</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Cost of sales</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">2,393,417</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Gross margin</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">267,806</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Expenses</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">General and administration</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">630,691</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Provision for expected credit losses</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Sales, marketing, and promotion</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">27,933</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Operating lease cost</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">56,650</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Depreciation and amortization</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">378,113</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Impairment of inventory</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,384,922</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Impairment of intangible asset</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Other expenses</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,273,813</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Net loss from discontinued operations before income taxes</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">(3,484,316</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Income tax expense</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">256,260</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Net loss from discontinued operations after income taxes</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">(3,228,056</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;">)</td> </tr> </table>

2661223

2393417

267806

630691

0 27933 56650

378113

1384922 0 -1273813

-3484316

-256260

-3228056

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 12pt; vertical-align: bottom; text-indent: -8pt; background-color: #e6efff;">Net cash (used in) provided by operating activities of discontinued operations</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">241,753</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 12pt; vertical-align: bottom; text-indent: -8pt;">Net cash provided by investing activities of discontinued operations</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">100,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 12pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-indent: -8pt; background-color: #e6efff;">Net cash used in financing activities of discontinued operations</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">(119,914</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> </table>

241753

100000

-119914

<div> 5. SECURITY DEPOSIT The Company has a security deposit with the Alberta Energy Regulator ("AER") under the AER's Liability Management programs to cover potential liabilities relating to its wells. The required security deposit with the AER is determined based on a monthly licensee management rating assessment. At January 31, 2021, the security deposit had a balance of $47,739. </div>

47739

<div> 6. RECEIVABLES <div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Sales taxes receivable</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">14,809</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Trade receivables, net</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">101,208</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">116,017</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> </div> At January 31, 2021, trade receivables are presented net of a provision for expected credit losses of $nil. </div>

14809

101208

116017

<div> 7. INVENTORY <div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Finished goods</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,946,638</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Work in process</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">582,655</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Raw materials</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">163,354</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">2,692,647</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div> </div>

1946638

582655

163354

2692647

<div> 8. PROPERTY AND EQUIPMENT AND RIGHT-OF-USE ASSETS Property and equipment The following table summarizes the Company's property and equipment: <div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt; padding-right: 4pt;">Land</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,330,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt; padding-right: 4pt;">Leasehold improvements</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">244,472</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt; padding-right: 4pt;">Furniture & fixtures</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">376,207</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt; padding-right: 4pt;">Computer equipment</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">94,846</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt; padding-right: 4pt;">Machinery & equipment</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">1,261,340</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 4pt; padding-left: 4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%;">3,306,865</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt; padding-right: 4pt;">Less: accumulated depreciation and amortization</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">(558,229</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">2,748,636</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div> Total depreciation and amortization expense for the year ended January 31, 2021 was $630,818. Of the total expense, $135,950 was allocated to inventory. At January 31, 2021, the Company reclassified property and equipment with a cost of $1,479,014 and accumulated depreciation of $751,582 to assets classified as to held for sale. The assets consisted primarily of redundant processing and extraction equipment as well as leasehold improvements and fixtures in a right-of-use asset. Management estimated the fair value less costs to sell exceeds the carrying value and therefore the assets are measured at their carrying values. During the year ended January 31, 2021, the Company recorded a loss of $116,881 related to the disposal of various items of leasehold improvements, furniture and fixtures, computer equipment and machinery and equipment related to the Oregon operations. The cost of the property and equipment disposed of was $318,314 and accumulated depreciation was $201,433. There was $nil gross proceeds and the loss has been recorded as other expenses within net loss from discontinued operations. During the year ended January 31, 2021, the Company transferred lights and equipment with a cost of $324,371 and accumulated depreciation of $128,319 between operating units resulting in a classification change from leasehold improvements to machinery and equipment. Right-of-use assets The Company's right-of-use assets result from its operating leases (note 11) and consist of land and buildings used in the cultivation, processing, and warehousing of its products. During the year ended January 31, 2021, the Company amended lease agreements on three leases to extend their term. This resulted in right-of-use asset additions of $7,236,663. <div> </div> For the year ended January 31, 2021, operating lease costs include right-of-use asset amortization of $800,269. Of this, $450,413 was allocated to inventory. At January 31, 2021, the Company reclassified right-of-use assets with a carrying amount of $583,257 to held for sale following an assessment that the Swell and Pure Green properties were redundant to the Company's operation. In addition, the Company reclassified the associated lease liabilities of $628,171 to be classified as held for sale. Management estimated the fair value less costs to sell exceeds the carrying value and therefore the assets are measured at their carrying values. At January 31, 2021, the Company reclassified right-of-use assets with a carrying amount of $491,672 to held for sale. Management estimated the fair value less costs to sell exceeds the carrying value and therefore the assets are measured at their carrying values. </div>

<div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt; padding-right: 4pt;">Land</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,330,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt; padding-right: 4pt;">Leasehold improvements</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">244,472</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt; padding-right: 4pt;">Furniture & fixtures</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">376,207</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt; padding-right: 4pt;">Computer equipment</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">94,846</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt; padding-right: 4pt;">Machinery & equipment</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">1,261,340</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 4pt; padding-left: 4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%;">3,306,865</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt; padding-right: 4pt;">Less: accumulated depreciation and amortization</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">(558,229</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">2,748,636</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div>

1330000

244472

376207

94846

1261340

3306865

558229

2748636

630818

135950

1479014

751582

116881

318314

201433

324371

128319

7236663

800269

450413

583257

628171

491672

<div> 9. INTANGIBLE ASSETS AND GOODWILL Intangible assets The following table summarizes the Company's intangible assets: <div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Licenses</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">12,141,476</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Brands</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">868,982</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Customer relationships</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">2,122,063</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%;">15,132,521</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Less: accumulated amortization</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">(4,174,560</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">10,957,961</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div> Total amortization expense from intangible assets for the year ended January 31, 2021 was $1,464,528. During the year ended January 31, 2021, the Company sold a brand for $100,000. At the time of the sale, the brand had a carrying amount of $100,000 comprised of cost of $117,737 and accumulated amortization of $17,737. At January 31, 2021, the Company reclassified intangible assets with a cost of $400,009 and accumulated amortization of $217,872 to held for sale. The intangible assets classified as held for sale consist of licenses, customer lists, and startup costs associated with a right-of-use asset that has also been classified as held for sale. Management estimated the fair value less costs to sell exceeds the carrying value and therefore the assets are measured at their carrying values. Goodwill As at January 31, 2021, the Company had goodwill of $28,541,323 which was allocated to the Nevada reporting unit. </div>

12141476

868982

2122063

15132521

4174560

10957961

1464528

100000

117737

17737

400009

217872

28541323

<div> 10. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES The following table summarizes the Company's accounts payable and accrued liabilities: <div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Accounts payable</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,382,519</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Accrued liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,183,259</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Interest payable</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">115,218</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">2,680,996</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div> </div>

1382519

1183259

115218

2680996

<div> <div> 11. LEASES On February 1, 2020 the Company adopted ASC 842 using the modified retrospective transition approach which requires the recognition of lease assets and liabilities for operating and finance leases. Beginning on February 1, 2020, the Company's financial statements are presented in accordance with the revised policy. The Company's accounting policy is described in note 3. As a result of the adoption of ASC 842, the Company recorded operating right-of-use assets of $5,001,360, and operating lease liabilities of $5,001,360. The Company's leases consist of land and buildings used in the cultivation, processing, and warehousing of its products. All leases were found to be operating leases in accordance with ASC 842. The following table presents the Company's active leases and total lease term under contract: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; white-space: nowrap; vertical-align: bottom; padding-left: 4pt; padding-right: 4pt;">Entity Name/Lessee</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: center; white-space: nowrap;">Asset</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: center; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt;"> Useful life (years) </td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: center; white-space: nowrap;">Type</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; background-color: #e6efff; padding-left: 4pt; padding-right: 4pt;">Swell Companies, LTD</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">Land/Building</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; background-color: #e6efff; text-align: center;"> 5 </td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">Operating lease</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; padding-left: 4pt; padding-right: 4pt;">Silver State Cultivation LLC</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: center;">Land/Building</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: center;"> 12 </td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: center;">Operating lease</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; background-color: #e6efff; padding-left: 4pt; padding-right: 4pt;">Silver State Relief LLC (Sparks)</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">Land/Building</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; background-color: #e6efff; text-align: center;"> 12 </td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">Operating lease</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; padding-left: 4pt; padding-right: 4pt;">Silver State Relief LLC (Fernley)</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: center;">Land/Building</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: center;"> 12 </td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: center;">Operating lease</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; background-color: #e6efff; padding-left: 4pt; padding-right: 4pt;">Megawood Enterprises Inc.</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">Land/Building</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; background-color: #e6efff; text-align: center;"> 5 </td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">Operating lease</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; padding-left: 4pt; padding-right: 4pt;">Phantom Distribution, LLC</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: center;">Land/Building</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: center;"> 5 </td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: center;">Operating lease</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; background-color: #e6efff; padding-left: 4pt; padding-right: 4pt;">63353 Bend, LLC</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">Land/Building</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; background-color: #e6efff; text-align: center;"> 5 </td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">Operating lease</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; padding-left: 4pt; padding-right: 4pt;">20727-4 Bend, LLC</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: center;">Land/Building</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: center;"> 5 </td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: center;">Operating lease</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; background-color: #e6efff; padding-left: 4pt; padding-right: 4pt;">4964 BFH, LLC</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; background-color: #e6efff; text-align: center;">Land/Building</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; background-color: #e6efff; text-align: center;"> 5 </td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; background-color: #e6efff; text-align: center;">Operating lease</td> </tr> </table> For the year ended January 31, 2021, the Company incurred operating lease costs of $1,249,422. Of these amounts, $700,185, were allocated to inventory. The following table displays the weighted average discount rate used in calculating lease liabilities and weighted average remaining lease term: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; border-top: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap; padding-left: 4pt;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Weighted average discount rate</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">10%</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Weighted average remaining lease term (years)</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;"> 11.32 </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div> <div> </div> <div> The maturity of the contractual undiscounted lease liabilities of the Company's operating leases as of January 31, 2021 is as follows: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top-width: 0.75pt; border-bottom: 1.5pt solid #000000; white-space: nowrap; vertical-align: top; border-top-color: #000000; border-top-style: solid; padding-left: 4pt;">Year ending January, </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Continuing operations</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Discontinued operations</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Total</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap; padding-left: 4pt;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">2022</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">1,203,000</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">420,382</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">1,623,382</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">2023</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,239,090</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">426,184</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,665,274</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">2024</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,276,263</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">415,947</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,692,210</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">2025</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,314,551</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">144,732</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,459,283</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">2026</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,353,987</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">36,399</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,390,386</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Thereafter</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">10,543,546</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">-</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">10,543,546</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Total undiscounted lease liabilities</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">16,930,437</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">1,443,644</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">18,374,081</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Interest on lease liabilities</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">(7,390,693</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">(226,145</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">(7,616,838</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Total present value of minimum lease payments</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">9,539,744</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">1,217,499</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">10,757,243</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Current portion of lease liability</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">260,621</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">314,799</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">575,420</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Non-current portion of lease liability</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">9,279,123</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">902,700</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">10,181,823</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> As at January 31, 2021, liabilities classified as held for sale includes lease liabilities of $1,217,499. The Company had total undiscounted lease liabilities with related parties of $17,615,013 (note 18). Of the total undiscounted lease liabilities with related parties, $684,576 are classified as held for sale. </div> </div>

5001360

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; white-space: nowrap; vertical-align: bottom; padding-left: 4pt; padding-right: 4pt;">Entity Name/Lessee</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: center; white-space: nowrap;">Asset</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: center; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt;"> Useful life (years) </td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: center; white-space: nowrap;">Type</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; background-color: #e6efff; padding-left: 4pt; padding-right: 4pt;">Swell Companies, LTD</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">Land/Building</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; background-color: #e6efff; text-align: center;"> 5 </td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">Operating lease</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; padding-left: 4pt; padding-right: 4pt;">Silver State Cultivation LLC</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: center;">Land/Building</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: center;"> 12 </td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: center;">Operating lease</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; background-color: #e6efff; padding-left: 4pt; padding-right: 4pt;">Silver State Relief LLC (Sparks)</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">Land/Building</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; background-color: #e6efff; text-align: center;"> 12 </td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">Operating lease</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; padding-left: 4pt; padding-right: 4pt;">Silver State Relief LLC (Fernley)</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: center;">Land/Building</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: center;"> 12 </td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: center;">Operating lease</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; background-color: #e6efff; padding-left: 4pt; padding-right: 4pt;">Megawood Enterprises Inc.</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">Land/Building</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; background-color: #e6efff; text-align: center;"> 5 </td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">Operating lease</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; padding-left: 4pt; padding-right: 4pt;">Phantom Distribution, LLC</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: center;">Land/Building</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: center;"> 5 </td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: center;">Operating lease</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; background-color: #e6efff; padding-left: 4pt; padding-right: 4pt;">63353 Bend, LLC</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">Land/Building</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; background-color: #e6efff; text-align: center;"> 5 </td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; background-color: #e6efff; text-align: center;">Operating lease</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; padding-left: 4pt; padding-right: 4pt;">20727-4 Bend, LLC</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: center;">Land/Building</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: center;"> 5 </td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: center;">Operating lease</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; background-color: #e6efff; padding-left: 4pt; padding-right: 4pt;">4964 BFH, LLC</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; background-color: #e6efff; text-align: center;">Land/Building</td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; background-color: #e6efff; text-align: center;"> 5 </td> <td style="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000; background-color: #e6efff; text-align: center;">Operating lease</td> </tr> </table>

P5Y

P12Y

P5Y

1249422

700185 <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; border-top: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap; padding-left: 4pt;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Weighted average discount rate</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">10%</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Weighted average remaining lease term (years)</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;"> 11.32 </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table>

0.10

P11Y3M25D

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top-width: 0.75pt; border-bottom: 1.5pt solid #000000; white-space: nowrap; vertical-align: top; border-top-color: #000000; border-top-style: solid; padding-left: 4pt;">Year ending January, </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Continuing operations</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Discontinued operations</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Total</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap; padding-left: 4pt;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">2022</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">1,203,000</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">420,382</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">1,623,382</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">2023</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,239,090</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">426,184</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,665,274</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">2024</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,276,263</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">415,947</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,692,210</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">2025</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,314,551</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">144,732</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,459,283</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">2026</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,353,987</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">36,399</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,390,386</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Thereafter</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">10,543,546</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">-</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">10,543,546</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Total undiscounted lease liabilities</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">16,930,437</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">1,443,644</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">18,374,081</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Interest on lease liabilities</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">(7,390,693</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">(226,145</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">(7,616,838</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Total present value of minimum lease payments</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">9,539,744</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">1,217,499</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">10,757,243</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Current portion of lease liability</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">260,621</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">314,799</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">575,420</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Non-current portion of lease liability</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">9,279,123</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">902,700</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">10,181,823</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table>

1203000

420382

1623382

1239090

426184

1665274

1276263

415947

1692210

1314551

144732

1459283

1353987

36399

1390386

10543546

16930437

1443644

18374081

7390693

226145

7616838

9539744

1217499

10757243

260621

314799

575420

9279123

902700

10181823

1217499 17615013 684576

<div> <div> <div> 12. CONVERTIBLE DEBENTURES AND PROMISSORY NOTES The Company early adopted ASU 2020-06 on February 1, 2021 using the full retrospective method. The adoption eliminates the cash conversion and beneficial conversion feature models used to separately account for embedded conversion features as a component of equity. Transaction costs related to the issuance of convertible promissory notes are apportioned to their respective financial liability and equity components (if applicable) in proportion to the allocation of proceeds as a reduction to the carrying amount of each component. When valuing the financial liability component of the convertible debentures and promissory notes, the Company used specific interest rates assuming no conversion features existed. The resulting liability component is accreted to its face value over the convertible note's term until its maturity date. Convertible debentures The following is the continuity of the Company's convertible debentures issued in Canadian dollars. All below disclosure is denominated in U.S. dollars: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt;">December 31, 2018 issuance</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt;">January 30, 2019 issuance</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Total</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Balance, January 31, 2020</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">2,066,976</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">4,179,094</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">6,246,070</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">New issuances on exercise of warrants</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,749,065</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">3,939,377</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">5,688,442</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Conversions</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">(4,075,959</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">(8,682,514</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">(12,758,473</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Interest</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">190,003</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">409,237</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">599,240</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Accretion expense</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">251,990</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">473,248</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">725,238</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Interest paid - cash</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">(250,879</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">(534,039</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">(784,918</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Foreign exchange loss</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">68,804</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">215,597</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">284,401</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Balance, January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div> </div> <div> </div> <div> <div> The following transactions occurred during the year ended January 31, 2021: (a) 262 convertible debentures were issued for gross proceeds of $195,734 (C$262,000). A total of $2,508,068 (C$3,209,000) in principal of the December 31, 2018 convertible debentures were converted into 4,011,250 common shares of the Company. The remaining balance outstanding is $nil. (b) 497 convertible debentures were issued for gross proceeds of $371,297 (C$497,000). A total of $5,204,120 (C$6,673,000) in principal of the January 30, 2019 convertible debentures were converted into 8,341,250 common shares of the Company. The remaining balance outstanding is $nil. (c) 1,988 warrants were exercised in connection with the convertible debentures issued on December 31, 2018, resulting in gross proceeds of $1,485,188 (C$1,988,000). 2,087 warrant debentures with a carrying amount of $1,632,114 (C$2,087,000) were converted into 2,313,322 common shares of the Company. At January 31, 2021, all warrants had been exercised or expired. (d) 4,572 warrants were exercised in connection with the convertible debentures issued on January 30, 2019, resulting in gross proceeds of $3,415,633 (C$4,572,000). 4,587 warrant debentures issued under the January 30, 2019 issuance with a carrying amount of $3,595,099 (C$4,587,000) were converted into 5,098,872 common shares of the Company. At January 31, 2021, all warrants had been exercised or expired. The following is a continuity of the Company's convertible promissory notes denominated in U.S. dollars: <div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">June 13, 2018</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">January 23, 2019</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">May 24, 2019</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">issuance</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">issuance</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">issuance</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Total</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Balance, January 31, 2020</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">639,665</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">175,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">918,316</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">1,732,981</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Payment</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(175,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(175,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Interest</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">48,733</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">100,274</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">149,007</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Accretion expense</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">384,192</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">111,466</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">495,658</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Balance, January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">1,072,590</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">1,130,056</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">2,202,646</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> </div> On June 13, 2018, the Company issued convertible promissory notes to the vendors that sold Eco Firma Farms, LLC to the Company in the aggregate principal amount of $2,000,000. The convertible promissory notes were convertible at $1.00 per share. The convertible promissory notes accrue interest at a rate of 4% per annum, compounded annually, and were fully due and payable on June 13, 2021. The Company is in an ongoing dispute with the vendors over repayment (note 22). On issuance, the Company determined the conversion feature was a derivative liability as the convertible promissory notes are exercisable in USD while the functional currency of the Company is Canadian dollars. The fair value of the conversion feature as at January 31, 2021 was $409,007. On January 23, 2019, the Company issued a convertible promissory note to the vendor that sold Megawood Enterprises, Inc. to the Company in the principal amount of $175,000. The convertible note is convertible into 35,000 common shares of the Company at a conversion price of C$5.00 per conversion share and may be converted at any time between October 24, 2019 and January 24, 2020. On issuance, the Company determined the conversion feature was a derivative liability as the convertible promissory notes are exercisable in USD while the functional currency of the Company is Canadian dollars. The fair value of the conversion feature as at January 31, 2021 was $nil. On February 21, 2020, the Company repaid the convertible promissory note with a cash payment of $130,000 and the issuance of 95,849 common shares (note 15). </div> </div> <div> </div> <div> <div> On May 24, 2019, the Company issued a two-year unsecured convertible promissory note to a debtor of Swell Companies in the principal amount of $1,000,000. The convertible note accrues interest at 10% per annum compounded annually and payable at maturity. The note is convertible into common shares of the Company at a conversion price of $1.56 per share and may be converted at the maturity date. On issuance, the Company determined the conversion feature was a derivative liability as the convertible promissory notes are exercisable in USD while the functional currency of the Company is Canadian dollars. The fair value of the conversion feature as at January 31, 2021 was $76,150. On May 24, 2021 the note was fully repaid. Promissory notes The following is a continuity of the Company's promissory notes denominated in U.S. dollars: <div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">January 1, 2019 </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">issuance</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Balance, January 31, 2020</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">21,200,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Payments</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">(7,013,333</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Balance, January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">14,186,667</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Current portion</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 15%;">6,080,000</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Non-current portion</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">8,106,667</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> </div> On January 1, 2019, the Company issued a promissory note to Mr. Newman, who sold Silver State to the Company in the principal amount of $30,000,000. The note is payable in the following principal instalments: $3,000,000 on April 1, 2019, $6,000,000 on each of July 1, 2019, October 1, 2019, January 1, 2020, and April 1, 2020, and $3,000,000 on July 1, 2020. The note accrues interest at a rate of 10% per annum. The note is secured by all of the outstanding membership interests, and a security interest in all of the assets, of Silver State. On July 1, 2019, the terms of the promissory note payable for the acquisition of Silver State were amended to call for immediate payment of $2,000,000 plus accrued interest on July 1, 2019 followed by payments of $800,000 plus accrued interest on the first of each of August, September, October, November, and December 2019. Effective November 21, 2019 and June 25, 2020, Mr. Newman and the Company agreed to further amend the terms of the secured promissory note due to Mr. Newman. The December 1, 2019 principal payment of $800,000 was cancelled and the monthly principal payments thereafter were reduced to $600,000 per month. Further, the annual interest rate on the note was reduced from 10% to 9.5%. The remaining balance on the note is due and payable on January 1, 2021. This modification resulted in a gain of $nil. On November 19, 2020, the Company announced agreement with Mr. Newman that the remaining $15,200,000 principal outstanding on his senior secured Note, due to mature on January 1, 2021, has been amended with lower monthly payments amortized over a 30-month period. Commencing December 1, 2020, the monthly payments will be $506,667 plus interest. The interest rate at 9.5% is unchanged. For the year ended January 31, 2021, interest expense was $1,643,363. Interest paid during the year ended January 31, 2021 was $1,715,750. </div> </div> </div>

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt;">December 31, 2018 issuance</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt;">January 30, 2019 issuance</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Total</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Balance, January 31, 2020</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">2,066,976</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">4,179,094</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">6,246,070</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">New issuances on exercise of warrants</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,749,065</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">3,939,377</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">5,688,442</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Conversions</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">(4,075,959</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">(8,682,514</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">(12,758,473</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Interest</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">190,003</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">409,237</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">599,240</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Accretion expense</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">251,990</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">473,248</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">725,238</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Interest paid - cash</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">(250,879</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">(534,039</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">(784,918</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Foreign exchange loss</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">68,804</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">215,597</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">284,401</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Balance, January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table>

2066976

4179094

6246070

1749065

3939377

5688442

4075959

8682514

12758473

190003

409237

599240

251990

473248

725238

250879 534039 784918

68804

215597

284401

262

195734

262000

2508068

3209000

4011250

497

371297

497000

5204120

6673000

8341250

0 1988

1485188

1988000

2087 1632114 2087000 2313322 4572

3415633

4572000

4587 3595099 4587000 5098872

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">June 13, 2018</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">January 23, 2019</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">May 24, 2019</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">issuance</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">issuance</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">issuance</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Total</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Balance, January 31, 2020</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">639,665</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">175,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">918,316</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">1,732,981</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Payment</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(175,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(175,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Interest</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">48,733</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">100,274</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">149,007</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Accretion expense</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">384,192</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">111,466</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">495,658</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Balance, January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">1,072,590</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">1,130,056</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">2,202,646</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table>

639665

175000

918316

1732981

175000

48733

100274

149007

384192

111466

495658

1072590

1130056

2202646

2000000

409007

175000

35000

130000

95849

1000000

0.10

1.56

76150

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">January 1, 2019 </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">issuance</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Balance, January 31, 2020</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">21,200,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Payments</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">(7,013,333</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Balance, January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">14,186,667</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Current portion</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 15%;">6,080,000</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Non-current portion</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">8,106,667</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table>

21200000

7013333

14186667

6080000

8106667

30000000

3000000

6000000

3000000

0.10

2000000

800000

600000

0.10

0.095

15200000

506667

0.095

1643363

1715750

<div> 13. RECLAMATION OBLIGATION The Company has recorded a decommissioning provision in connection with estimated reclamation costs on a previously written off property. The obligation is recognized based on the estimated future reclamation costs. The Company had two wells in Alberta which were determined to be uneconomic and costs have been incurred to plug these wells. Reclamation and remediation work is still required to bring the site back to its natural state. </div>

<div> 14. DERIVATIVE LIABILITIES The following reflects the continuity of derivative liabilities: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> Conversion features of convertible promissory notes </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">Earn out shares</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">Total</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Balance, January 31, 2020</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">151,242</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">3,699,154</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">3,850,396</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Fair value adjustment on derivative liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">333,915</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">5,422,280</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">5,756,195</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Effect of foreign exchange</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">152,536</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">152,536</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Balance, January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">485,157</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">9,273,970</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">9,759,127</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> Upon the February 4, 2019 acquisition of Phantom Farms the vendors can earn up to 4,500,000 'earn out' shares over a period of seven years. The conditions were based on the Company's common shares exceeding certain share prices during the period. The liability was derived using a Monte Carlo simulation. Upon the May 24, 2019 acquisition of Swell Companies the vendors can earn up to 6,000,000 'earn out' shares over a period of seven years. The conditions are based on C21 common shares exceeding certain share prices during the period. Additionally, the 50% of the earn out shares are earned upon a change of control of the Company. The liability is derived using a Monte Carlo simulation. Significant inputs into the Monte Carlo simulation used to determine the fair value of earn of earn out shares were as follows: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; border-top: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">Earn out shares</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Discount rate</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">0.30%</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Expected life in years</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">5.34</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Expected stock volatility</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">80%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; padding-left: 4pt;">Expected volatility of foreign exchange</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">5.29%</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> <div> </div> The fair value of the conversion features of the convertible promissory notes is determined using a Black-Scholes option pricing model. Significant inputs into the calculation were as follows: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: top; white-space: nowrap;"> </td> <td style="vertical-align: top; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: top; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> Conversion feature of June 13, 2018 issuance issuance of convertible promissory notes </td> <td style="vertical-align: top; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: top; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap; vertical-align: bottom;"> Conversion feature of May 24, 2019 issuance of convertible promissory notes </td> <td style="vertical-align: top; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Discount rate</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 17%; background-color: #e6efff;">0.18%</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 17%; background-color: #e6efff;">0.18%</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Expected life in years</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 17%;">0.36</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 17%;">0.31</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Expected stock volatility</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 17%; background-color: #e6efff;">85%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 17%; background-color: #e6efff;">86%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Stock price (CAD)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 17%;">1.54</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 17%;">1.54</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Exercise price (CAD)</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 17%; background-color: #e6efff;">1.28</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 17%; background-color: #e6efff;">2.00</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> As at January 31, 2021, the conversion features of the June 13, 2018 and May 24, 2019 convertible promissory notes had fair values of $409,007 and $76,150, respectively. Subsequent to January 31, 2021, the conversion features expired on June 13, 2021 and May 24, 2021, respectively unexercised. </div>

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> Conversion features of convertible promissory notes </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">Earn out shares</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">Total</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Balance, January 31, 2020</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">151,242</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">3,699,154</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">3,850,396</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Fair value adjustment on derivative liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">333,915</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">5,422,280</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">5,756,195</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Effect of foreign exchange</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">152,536</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">152,536</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Balance, January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">485,157</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">9,273,970</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">9,759,127</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table>

151242

3699154

3850396

333915 5422280 5756195 0 152536 152536

485157

9273970

9759127

4500000 6000000 0.50

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; border-top: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">Earn out shares</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Discount rate</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">0.30%</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Expected life in years</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">5.34</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Expected stock volatility</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">80%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; padding-left: 4pt;">Expected volatility of foreign exchange</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">5.29%</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table>

0.3

5.34

5.29

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: top; white-space: nowrap;"> </td> <td style="vertical-align: top; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: top; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> Conversion feature of June 13, 2018 issuance issuance of convertible promissory notes </td> <td style="vertical-align: top; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: top; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap; vertical-align: bottom;"> Conversion feature of May 24, 2019 issuance of convertible promissory notes </td> <td style="vertical-align: top; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Discount rate</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 17%; background-color: #e6efff;">0.18%</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; width: 17%; background-color: #e6efff;">0.18%</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Expected life in years</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 17%;">0.36</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 17%;">0.31</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Expected stock volatility</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 17%; background-color: #e6efff;">85%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 17%; background-color: #e6efff;">86%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Stock price (CAD)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 17%;">1.54</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 17%;">1.54</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Exercise price (CAD)</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 17%; background-color: #e6efff;">1.28</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: right; width: 17%; background-color: #e6efff;">2.00</td> <td style="vertical-align: bottom; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table>

0.18

0.36

0.31

1.54 1.54 1.28 2

409007

76150

<div> 15. SHAREHOLDERS' EQUITY Common stock consists of one class of fully paid common shares, with no par value. The Company is authorized to issue an unlimited number of common shares. All shares are equally eligible to receive dividends and repayment of capital and represent one vote at the Company's shareholders' meetings. The following table reflects the continuity of common stock for the year ended January 31, 2021: <div> <div> <div> <div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> Number of Shares </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Common stock</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Balance, January 31, 2020</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">89,388,639</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">85,096,509</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Shares issued - acquisition of Phantom Farms (i)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">7,132,042</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">2,582,903</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Shares issued - Megawood (ii)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">95,849</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">38,415</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Shares issued - option exercises (iii)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">200,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">98,950</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Shares issued - conversion of debentures (iv)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">19,764,694</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">12,758,473</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Shares issued - Swell commitment (v)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">456,862</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">429,582</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Shares issued - EFF commitment (vi)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">19,774</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">21,371</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Standby warrants issued</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">2,116,192</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Share-based compensation</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">494,435</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Balance, January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">117,057,860</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">103,636,830</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div> </div> </div> </div> <div> (i) On February 19, 2020, the Company amended the terms of the purchase of Phantom Farms, including SDP. The amended terms of the purchase agreement regarding the real estate assets of SDP group resulted in the Company electing to purchase the real estate of the Phantom Farms outdoor grow (two parcels), and SDP receiving 7,132,042 shares of C21 with a fair value of $2,582,903. (ii) On February 21, 2020, the Company repaid the convertible promissory note with a cash payment of $130,000 and the issuance of 95,849 common shares with a fair value of $38,415 (note 12). <div> </div> (iii) On October 15, 2020, the Company issued 200,000 shares upon the exercise of stock options. (iv) During the year ended January 31, 2021 the Company issued 19,764,694 shares upon the conversion of debentures. (v) On November 23, 2020, the Company issued 456,862 common shares to Swell as part of the purchase agreement dated May 23, 2019 as final settlement of the Company's commitment to issue shares. (vi) On December 30, 2020, the Company issued 19,774 common shares to the vendors of EFF for a partial settlement of the Company's commitment to issue shares. </div> Commitment to issue shares The Company issued a promissory note payable to deliver 2,142,000 shares to the vendors of EFF in the amount of $1,905,635, without interest, any time after October 15, 2018. As at January 31, 2021 the Company has a remaining commitment to deliver 1,349,046 shares. Warrants The following summarizes the Company's warrant activity: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: justify; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> Warrants outstanding </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> Weighted average exercise price </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> Weighted average remaining life </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="padding-right: 0pt; padding-left: 4pt; vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: justify; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">#</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">C$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Years</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="padding-right: 0pt; padding-left: 4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Balance January 31, 2020</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 17%; background-color: #e6efff;">5,694,746</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 17%; background-color: #e6efff;">1.66</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 17%; background-color: #e6efff;"> 0.74 </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 0pt; padding-left: 4pt; vertical-align: bottom; text-align: justify;">Issued</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 17%;">6,200,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 17%;">1.00</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 17%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 0pt; padding-left: 4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: justify; background-color: #e6efff;">Balance, January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 17%; background-color: #e6efff;">11,894,746</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 17%; background-color: #e6efff;">1.32</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 17%; background-color: #e6efff;"> 1.96 </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> As at January 31, 2021, the following warrants were outstanding and exercisable: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap; padding-left: 4pt;">Expiry Date</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Exercise Price </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> Number of Warrants </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; padding-left: 4pt;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">C$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">#</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">February 4, 2021</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1.50</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,700,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">May 28, 2021</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1.83</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">2,794,746</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">December 31, 2023</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1.00</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,922,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">January 30, 2024</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1.00</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">4,278,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">May 24, 2024</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">1.50</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">1,200,000</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: justify;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">11,894,746</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> On May 28, 2020, the Company extended the expiry date of 2,794,746 warrants with an exercise price of C$1.83, from May 29, 2020 to May 29, 2021, with all other terms the same. These warrants expired unexercised on May 29, 2021. On February 4, 2021, 456,100 warrants with an exercise price of $1.17 (C$1.50) were exercised to purchase 456,100 common shares of the Company for proceeds of $533,326. Of the warrants exercised, 426,100 were exercised by a Director of the Company. On the same date, 1,243,900 warrants expired unexercised. <div> </div> On June 17, 2021, 4,160,000 warrants were exercised on a cashless basis for 1,214,080 common shares of the Company. Stock options The Company is authorized to grant options to executive officers and directors, employees and consultants, enabling them to acquire up to 10% of the issued and outstanding common shares of the Company. The exercise price of each option is set by the Board of Directors and shall not be less than the market price of the Company's shares on the date of grant. The options can be granted for a maximum term of 10 years. Vesting is determined by the Board of Directors. Details of the Company's stock option activity are as follows: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> Options outstanding and exercisable </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> Weighted average exercise price </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> Weighted average remaining life </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">#</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">C$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Years</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify; background-color: #e6efff; padding-left: 4pt;">Balance January 31, 2020</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">3,255,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1.78</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;"> 2.18 </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Granted</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">4,055,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">0.73</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Exercised</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">(200,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">0.65</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify; padding-left: 4pt;">Expired/Cancelled</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">(145,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">0.71</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: justify; background-color: #e6efff; padding-left: 4pt;">Balance, January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">6,965,000</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">1.22</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;"> 2.05 </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> As at January 31, 2021, the following stock options were outstanding and exercisable: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap; padding-left: 4pt;">Expiry Date</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Exercise Price</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Outstanding</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Exercisable</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; padding-left: 4pt;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">C$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">#</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">#</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">June 25, 2021</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">2.80</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,350,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,350,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">February 5, 2022</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1.11</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">460,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">460,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">October 9, 2022</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1.38</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">500,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">500,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">January 24, 2023</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">0.80</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">100,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">100,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">August 17, 2023</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">0.70</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">3,905,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,301,667</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">January 28, 2024</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1.50</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">150,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">50,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">October 9, 2024</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">1.00</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">500,000</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">500,000</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: justify;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">6,965,000</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">4,261,667</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> During the year ended January 31, 2021, the Company recorded a share-based compensation expense of $494,435. The fair value of stock options was calculated using the Black-Scholes Option Pricing Model using the following weighted average assumptions: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; border-top: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap; padding-left: 4pt;">Expiry Date</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Risk-free rate</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">0.19%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Expected term of options</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;"> 3 years </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Annualized volatility</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">80%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Dividend rate</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">0%</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div>

<div> <div> <div> <div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> Number of Shares </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Common stock</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Balance, January 31, 2020</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">89,388,639</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">85,096,509</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Shares issued - acquisition of Phantom Farms (i)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">7,132,042</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">2,582,903</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Shares issued - Megawood (ii)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">95,849</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">38,415</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Shares issued - option exercises (iii)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">200,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">98,950</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Shares issued - conversion of debentures (iv)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">19,764,694</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">12,758,473</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Shares issued - Swell commitment (v)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">456,862</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">429,582</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Shares issued - EFF commitment (vi)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">19,774</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">21,371</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Standby warrants issued</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">2,116,192</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Share-based compensation</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">494,435</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Balance, January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">117,057,860</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">103,636,830</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div> </div> </div> </div>

89388639

85096509

7132042

2582903

95849 38415

200000

98950

19764694

12758473

456862 429582 19774 21371 2116192

494435

117057860

103636830

7132042

2582903

130000

95849 38415

200000

19764694

456862 19774 2142000

1905635

1349046

5694746

1.66

P0Y8M26D 6200000 1

11894746

1.32

P1Y11M15D <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap; padding-left: 4pt;">Expiry Date</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Exercise Price </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> Number of Warrants </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; padding-left: 4pt;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">C$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">#</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">February 4, 2021</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1.50</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,700,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">May 28, 2021</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1.83</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">2,794,746</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">December 31, 2023</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1.00</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,922,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">January 30, 2024</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1.00</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">4,278,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">May 24, 2024</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">1.50</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">1,200,000</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: justify;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">11,894,746</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table>

1.5

1700000

1.83

2794746

1922000

4278000

1.5

1200000

11894746

2794746 1.83 456100 1.17 1.5

456100

533326

426100 1243900 4160000

1214080

P10Y

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> Options outstanding and exercisable </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> Weighted average exercise price </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> Weighted average remaining life </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">#</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">C$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Years</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify; background-color: #e6efff; padding-left: 4pt;">Balance January 31, 2020</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">3,255,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1.78</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;"> 2.18 </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Granted</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">4,055,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">0.73</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Exercised</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">(200,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">0.65</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify; padding-left: 4pt;">Expired/Cancelled</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">(145,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">0.71</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: justify; background-color: #e6efff; padding-left: 4pt;">Balance, January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">6,965,000</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">1.22</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;"> 2.05 </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table>

3255000

1.78

P2Y2M4D

4055000

0.73

200000

0.65

145000

0.71

6965000

1.22

P2Y18D

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap; padding-left: 4pt;">Expiry Date</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Exercise Price</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Outstanding</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Exercisable</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; padding-left: 4pt;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">C$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">#</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">#</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">June 25, 2021</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">2.80</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,350,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,350,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">February 5, 2022</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1.11</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">460,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">460,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">October 9, 2022</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1.38</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">500,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">500,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">January 24, 2023</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">0.80</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">100,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">100,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">August 17, 2023</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">0.70</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">3,905,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,301,667</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">January 28, 2024</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1.50</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">150,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">50,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">October 9, 2024</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">1.00</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">500,000</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">500,000</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: justify;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">6,965,000</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">4,261,667</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table>

2.8

1350000

1.11

460000

1.38

500000

0.8

100000

0.7

3905000

1301667

1.5

150000

50000

500000

6965000

4261667

494435

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; border-top: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap; padding-left: 4pt;">Expiry Date</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Risk-free rate</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">0.19%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Expected term of options</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;"> 3 years </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Annualized volatility</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">80%</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Dividend rate</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">0%</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table>

0.0019

P3Y

0.80

<div> 16. SELLING, GENERAL AND ADMINISTRATIVE EXPENSE Selling, general and administrative expenses for the year ended January 31, 2021 were comprised of the following: <div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; border-top: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Accounting and legal</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">501,854</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Depreciation and amortization</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,321,686</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">License fees, taxes and insurance</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,705,539</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Office Facilities and administrative</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">253,230</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Operating lease cost</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">549,031</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Other</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">372,307</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Professional Fees and consulting</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">650,188</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Salaries and wages</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">2,884,320</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Share-based compensation</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">494,435</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Shareholder Communications</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">15,834</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Travel and entertainment</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">58,975</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">8,807,399</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div> </div> <div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; border-top: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Accounting and legal</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">501,854</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Depreciation and amortization</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,321,686</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">License fees, taxes and insurance</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,705,539</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Office Facilities and administrative</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">253,230</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Operating lease cost</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">549,031</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Other</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">372,307</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Professional Fees and consulting</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">650,188</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Salaries and wages</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">2,884,320</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Share-based compensation</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">494,435</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Shareholder Communications</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">15,834</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Travel and entertainment</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">58,975</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">8,807,399</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div>

501854

1321686

1705539

253230

549031

372307

650188

2884320

494435

15834

58975

8807399

<div> 17. SEGMENTED INFORMATION The Company defines its major geographic operating segments as Oregon and Nevada. Due to the jurisdictional cannabis compliance issues ever-present in the industry, each state operation is by nature operationally segmented. Key decision makers primarily review revenue, cost of sales expense, and gross margin as the primary indicators of segment performance. As the Company continues to expand via acquisition, the segmented information will expand based on management's agreed upon allocation of costs beyond gross margin. Segmented operational activity and balances are as follows: <div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap; padding-left: 4pt;">January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> Discontinued operations </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Nevada</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Corporate</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Consolidated</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; padding-left: 4pt;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Total revenue</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">2,661,223</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">33,466,063</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">36,127,286</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Gross profit</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">267,806</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">18,047,346</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">18,315,152</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Operating expenses:</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; text-indent: 10pt;">Selling, general and administrative</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(658,624</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(3,643,205</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(2,799,042</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(7,100,871</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; text-indent: 10pt; background-color: #e6efff;">Operating lease cost</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">(56,650</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">(549,031</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">(605,681</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; text-indent: 10pt;">Depreciation and amortization</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(378,113</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(1,270,564</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(51,122</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(1,699,799</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; text-indent: 10pt; background-color: #e6efff;">Share-based compensation</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">(494,435</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">(494,435</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; text-indent: 10pt;">Impairment of inventory</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(1,384,922</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(1,384,922</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Interest, accretion, and other</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">(1,273,813</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">(137,651</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">(10,735,735</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">(12,147,199</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Net income (loss) before taxes</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">(3,484,316</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">12,446,895</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">(14,080,334</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">(5,117,755</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;">)</td> </tr> </table> </div> Entity-wide disclosures All revenue for the year ended January 31, 2021 was earned in the United States. For the year ended January 31, 2021, no customer represented more than 10% of the Company's net revenue. <div> </div> The following table displays the disaggregation of long-lived assets by geographic area: <div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> January 31, 2021 </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; padding-left: 4pt;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Nevada</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">10,110,806</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Discontinued operations (Oregon)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,946,961</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Other</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">28,117</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Total</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%;">12,085,884</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div> </div>

<div> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap; padding-left: 4pt;">January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> Discontinued operations </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Nevada</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Corporate</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Consolidated</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; padding-left: 4pt;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Total revenue</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">2,661,223</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">33,466,063</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">36,127,286</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Gross profit</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">267,806</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">18,047,346</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">18,315,152</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Operating expenses:</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; text-indent: 10pt;">Selling, general and administrative</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(658,624</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(3,643,205</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(2,799,042</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(7,100,871</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; text-indent: 10pt; background-color: #e6efff;">Operating lease cost</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">(56,650</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">(549,031</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">(605,681</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; text-indent: 10pt;">Depreciation and amortization</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(378,113</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(1,270,564</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(51,122</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(1,699,799</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; text-indent: 10pt; background-color: #e6efff;">Share-based compensation</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">(494,435</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">(494,435</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; text-indent: 10pt;">Impairment of inventory</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(1,384,922</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(1,384,922</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Interest, accretion, and other</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">(1,273,813</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">(137,651</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">(10,735,735</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">(12,147,199</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Net income (loss) before taxes</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">(3,484,316</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">12,446,895</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">(14,080,334</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 12%;">(5,117,755</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%;">)</td> </tr> </table> </div>

2661223

33466063

36127286

267806

18047346

18315152

658624

3643205

2799042

7100871

56650

549031

605681

378113

1270564

51122

1699799

494435

1384922

1273813

137651

10735735

12147199

-3484316

12446895

-14080334

-5117755

10110806

1946961

28117

12085884

<div> 18. COMMITMENTS The Company and its subsidiaries are committed under lease agreements with related parties, for land, office space, and equipment in Nevada and Oregon as well as for mortgage payments on a building held for sale. At January 31, 2021, the Company has the following future minimum payments: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Mortgage</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> Leases with related parties </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Total</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">2022</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">277,214</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,431,192</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,708,406</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">2023</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">232,961</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,467,282</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,700,243</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">2024</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">224,513</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,504,455</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,728,968</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">2025</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">80,414</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,314,551</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,394,965</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">2026</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">45,743</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,353,987</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,399,730</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Thereafter</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">415,496</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">10,543,546</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">10,959,042</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">1,276,341</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">17,615,013</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">18,891,354</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> Leases with related parties includes $684,576 of undiscounted lease payments for lease liabilities held for sale. </div>

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Mortgage</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> Leases with related parties </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;">Total</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 1.5pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">2022</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">277,214</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,431,192</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,708,406</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">2023</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">232,961</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,467,282</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,700,243</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">2024</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">224,513</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,504,455</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,728,968</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">2025</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">80,414</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,314,551</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,394,965</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">2026</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">45,743</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,353,987</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,399,730</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Thereafter</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">415,496</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">10,543,546</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">10,959,042</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">1,276,341</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">17,615,013</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">18,891,354</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table>

277214

1431192

1708406

232961

1467282

1700243

224513

1504455

1728968

80414

1314551

1394965

45743

1353987

1399730

415496

10543546

10959042

1276341

17615013

18891354

684576

<div> 19. INCOME TAXES The Company is a Canadian resident company, as defined in the Income Tax Act (Canada) (the "ITA"), for Canadian income tax purposes. However, it has subsidiaries that are treated as United States corporations for US federal income tax purposes per the Internal Revenue Code (US) ("IRC") and are thereby subject to federal income tax on their worldwide income. As a result, the Company is subject to taxation both in Canada and the United States. The components of the income tax provision for the year ended January 31, 2021 include: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; border-top: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> January 31, 2021 </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Current</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; text-indent: 8.95pt;">Canadian</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-indent: 8.95pt; background-color: #e6efff;">US Federal</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">2,366,046</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Total current income tax expense</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%;">2,366,046</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Deferred</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; text-indent: 8.95pt; background-color: #e6efff;">Canadian</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-indent: 8.95pt;">US Federal</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">602,087</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Total deferred income tax recovery</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">602,087</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Total income tax expense</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">2,968,133</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> <div> </div> The domestic and foreign components of loss before provision for income taxes consisted of the following: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; border-top: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> January 31, 2021 </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Canadian</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">(11,678,406</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">US Federal</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">10,044,967</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Loss before income taxes</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">(1,633,439</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> </table> A reconciliation of the statutory income tax rate percentage to the effective tax rate for the year ended January 31, 2021 is as follows: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; border-top: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> January 31, 2021 </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Loss for the year</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">(1,633,439</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Statutory rate</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">27%</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Income tax recovery at statutory rate</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">(441,029</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Non-deductible expenditures and non-taxable revenues</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,842,777</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Foreign tax rate differential</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">(602,698</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Change in valuation allowance</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">737,667</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Adjustment to provision versus statutory tax returns</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,431,416</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">2,968,133</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> The significant components of the Company's deferred tax assets as follows at January 31, 2021: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> January 31, 2021 </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Deferred tax assets</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-indent: 8.95pt; background-color: #e6efff;">Share issuance costs and financing fees</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">505,035</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; text-indent: 8.95pt;">Allowable capital losses</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">138,421</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; text-indent: 8.95pt; background-color: #e6efff;">Non-capital losses</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">3,834,262</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; text-indent: 8.95pt;">Intangible assets</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">816,736</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; text-indent: 8.95pt; background-color: #e6efff;">Mineral resource properties</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">983,977</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; text-indent: 8.95pt;">Right of use assets and lease liabilities, net</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">63,032</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; text-indent: 8.95pt; background-color: #e6efff;">Goodwill</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-indent: 8.95pt;">Reclamation obligation</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">14,852</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Total deferred tax assets</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">6,356,315</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Valuation allowance</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">(5,573,835</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Total net deferred tax assets</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">782,480</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Deferred tax liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-indent: 8.95pt;">Property and equipment</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">(225,966</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Net deferred tax asset</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">556,514</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> <div> </div> Realization of deferred tax assets associated with the net operating loss carryforwards is dependent upon generating sufficient taxable income prior to their expiration. A valuation allowance to reflect management's estimate of the net operating loss carryforwards that may expire prior to their utilization has been recorded at January 31, 2021. As the Company operates in the cannabis industry, the Company is subject to the limits of Internal Revenue Code ("IRC") Section 280E for US federal income tax purposes as well as state income tax purposes for all states except for California and Colorado. Under IRC Section 280E, the Company is only allowed to deduct expenses directly related to costs of goods sold. This results in permanent differences between ordinary and necessary business expenses deemed non-allowable under IRC Section 280E. Management assesses the available positive and negative evidence to estimate whether sufficient future taxable income will be generated to permit use of the existing deferred tax assets. A significant piece of objective negative evidence evaluated was the cumulative loss incurred by the Canadian entity over the three-year period ended January 31, 2021. Such objective evidence limits the ability to consider other subjective evidence, such as our projections for future growth. On the basis of this evaluation, as of January 31, 2021, a valuation allowance of $5,573,835 has been recorded to recognize only the portion of the deferred tax asset that is more likely than not to be realized. The amount of the deferred tax asset considered realizable, however, could be adjusted if estimates of future taxable income during the carryforward period are reduced or increased or if objective negative evidence in the form of cumulative losses is no longer present and additional weight is given to subjective evidence such as our projections for growth. The Company recognizes benefits from uncertain tax positions based on the cumulative probability method whereby the largest benefit with a cumulative probability of greater than 50% is recorded. An uncertain tax position is not recognized if it has less than a 50% likelihood of being sustained. As of January 31, 2021, the Company has not recorded any uncertain tax assets or liabilities. The Company does not expect that uncertain tax benefits will materially change in the next 12 months. The Company is subject to taxation in Canada and the United States. As of January 31, 2021, tax years for 2019 and 2020 are subject to examination by the tax authorities. The 2018 tax year is also subject to investigation in Canada. </div>

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; border-top: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> January 31, 2021 </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Current</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; text-indent: 8.95pt;">Canadian</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-indent: 8.95pt; background-color: #e6efff;">US Federal</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">2,366,046</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Total current income tax expense</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%;">2,366,046</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Deferred</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; text-indent: 8.95pt; background-color: #e6efff;">Canadian</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-indent: 8.95pt;">US Federal</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">602,087</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Total deferred income tax recovery</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">602,087</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Total income tax expense</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">2,968,133</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table>

2366046

602087

2968133

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; border-top: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> January 31, 2021 </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Canadian</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">(11,678,406</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">US Federal</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">10,044,967</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Loss before income taxes</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">(1,633,439</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> </table>

-11678406

10044967

-1633439

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; border-top: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> January 31, 2021 </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Loss for the year</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">(1,633,439</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Statutory rate</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">27%</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Income tax recovery at statutory rate</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">(441,029</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Non-deductible expenditures and non-taxable revenues</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">1,842,777</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Foreign tax rate differential</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">(602,698</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Change in valuation allowance</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">737,667</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Adjustment to provision versus statutory tax returns</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">1,431,416</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">2,968,133</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table>

-1633439

0.27

-441029

1842777

-602698

737667

1431416

2968133

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> January 31, 2021 </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Deferred tax assets</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-indent: 8.95pt; background-color: #e6efff;">Share issuance costs and financing fees</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">505,035</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; text-indent: 8.95pt;">Allowable capital losses</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">138,421</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; text-indent: 8.95pt; background-color: #e6efff;">Non-capital losses</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">3,834,262</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; text-indent: 8.95pt;">Intangible assets</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">816,736</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; text-indent: 8.95pt; background-color: #e6efff;">Mineral resource properties</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">983,977</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; text-indent: 8.95pt;">Right of use assets and lease liabilities, net</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">63,032</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; text-indent: 8.95pt; background-color: #e6efff;">Goodwill</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-indent: 8.95pt;">Reclamation obligation</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">14,852</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Total deferred tax assets</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">6,356,315</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Valuation allowance</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">(5,573,835</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Total net deferred tax assets</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">782,480</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Deferred tax liabilities</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-indent: 8.95pt;">Property and equipment</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">(225,966</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Net deferred tax asset</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">556,514</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table>

505035

138421

3834262 816736 983977 63032 0 14852

6356315

5573835

782480

225966

556514

5573835

<div> 20. RELATED PARTY TRANSACTIONS Balances due to related parties included in accounts payable, accrued liabilities, and promissory note payable at January 31, 2021: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Due to the President and CEO</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">14,369,004</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Lease liabilities due to a company controlled by the CEO</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">9,539,744</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Lease liabilities due to SDP Development</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">589,328</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Due to the CFO of the Company</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">527</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: justify; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">24,498,603</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> <div> </div> Due to the President and CEO consists of promissory note principal and interest and reimbursable expenses incurred in the normal course of business. The Company had the following transactions with related parties including key management personnel during the year ended January 31, 2021: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Consulting fees paid to a director</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-left: 4pt;">Amounts paid to CEO or companies controlled by CEO</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">10,368,616</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Salary paid to directors and officers</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">499,710</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-left: 4pt;">Share compensation for directors and officers</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">360,610</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Convertible debenture interest paid to directors and officers </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">18,346</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Lease payments made to SDP Development</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">228,192</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">11,475,474</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> Amounts paid to CEO or companies controlled by CEO consists of salary, lease payments, and promissory note principal and interest. On February 12, 2020, the Company amended the purchase agreement with SDP Development, of which a director of the Company is a principal owner. The Company had agreed on February 4, 2019 to purchase SDP Development on October 15, 2020, which owned six real estate properties that were leased in connection with Phantom Farms' cannabis cultivation, processing and wholesale distribution operations. The aggregate purchase price was $8,010,000 payable in cash, or, at the election of the vendors, in whole or in part by the issue of 2,670,000 shares at $3.00 per common share. On February 12, 2020 the parties agreed to the following modified terms: the Company purchased the two Southern Oregon farms from SDP Development constituting over 60 acres of real property housing the two outdoor cannabis cultivation facilities totaling 80,000 square feet of canopy, rent reduction on the three Phantom properties in Central Oregon, and a release from the obligation to purchase the sixth property in Southern Oregon. In exchange, the SDP vendors received 7,132,041 common shares of the Company with a fair value of $2,582,903. The consideration exceeded the fair market value of the land acquired and as a result, the Company recorded transaction costs of $1,204,740. The Company has three remaining leases with SDP Development. The undiscounted future cash flows for the three remaining leases at January 31, 2021 total $684,576. On November 16, 2020, the Company amended the terms of the three Nevada leases with Double G Holdings (a Company controlled by the Company's President and CEO). The term of the two dispensary leases and the warehouse lease was extended to November 30, 2027 with a right to extend for a further five years and with an annual increase to the base rent of 3% commencing January 1, 2022. At January 31, 2021, the undiscounted future cash flows for all three leases including the five-year extension total $16,930,437. </div>

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Due to the President and CEO</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">14,369,004</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Lease liabilities due to a company controlled by the CEO</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">9,539,744</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Lease liabilities due to SDP Development</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">589,328</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Due to the CFO of the Company</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">527</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: justify; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">24,498,603</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table>

14369004

9539744

589328

527

24498603

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">January 31, 2021</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Consulting fees paid to a director</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: right; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-left: 4pt;">Amounts paid to CEO or companies controlled by CEO</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">10,368,616</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Salary paid to directors and officers</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">499,710</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; padding-left: 4pt;">Share compensation for directors and officers</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">360,610</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Convertible debenture interest paid to directors and officers </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">18,346</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Lease payments made to SDP Development</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">228,192</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1.5pt solid #000000; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: right; width: 15%; background-color: #e6efff;">11,475,474</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 1.5pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table>

0 10368616 499710 360610 18346 228192

11475474

8010000

2670000

2 80000 3 7132041 2582903

1204740

684576

P5Y

0.03 16930437

<div> 21. EARNINGS PER SHARE The following is a reconciliation for the calculation of basic and diluted earnings per share for the year ended January 31, 2021: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> January 31, 2021 </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Net loss from continuing operations after income taxes</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">(4,601,572</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Net loss from discontinued operations after income taxes</td> <td style="vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 15%;">(3,228,056</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Net loss</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">(7,829,628</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Weighted average number of common shares outstanding</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">104,841,540</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Dilutive effect of warrants and stock options outstanding</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Diluted weighted average number of common shares outstanding</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">104,841,540</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Basic loss per share, continuing operations</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">(0.04</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Diluted loss per share, continuing operations</td> <td style="vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 15%;">(0.04</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Basic loss per share, discontinued operations</td> <td style="vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 15%;">(0.03</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Diluted loss per share, discontinued operations</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">(0.03</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 15%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Basic loss per share</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; text-align: right; width: 15%; background-color: #e6efff;">(0.07</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; padding-left: 4pt;">Diluted loss per share</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 15%;">(0.07</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;">)</td> </tr> </table> The computation of diluted earnings per share excludes the effect of the potential exercise of warrants and stock options when the average market price of the common stock is lower than the exercise price of the respective warrant or stock option and when inclusion of these amounts would be anti-dilutive. For the year ended January 31, 2021, the number of warrants and stock options excluded from the computation was 16,156,413. </div>

-4601572

-3228056

-7829628

104841540

-0.04

-0.03

-0.07

16156413

<div> 22. CONTINGENCIES From time to time, the Company is involved in various litigation matters arising in the ordinary course of its business. Management is of the opinion that disposition of any current matter will not have a material adverse impact on the Company's balance sheet, results of operations, or the ability to carry on any of its business activities. Legal proceedings Oregon Action: A complaint was filed in the Oregon State Circuit Court for Clackamas County, on April 29, 2019, by two current owners of Proudest Monkey Holdings, LLC (the former sole member of EFF) (the "Plaintiffs"), alleging contract, employment, and statutory claims, alleging $612,500 in damages (as amended), against the Company, its wholly-owned subsidiaries 320204 US Holdings Corp, EFF, Swell Companies Limited, and Phantom Brands LLC, in addition to three directors, two officers, and one former employee (the "Oregon Action"). The Company and the other defendants wholly denied the allegations and claims made in the lawsuit and is defending the lawsuit. On June 21, 2019, the Company filed Oregon Rule of Civil Procedure ("ORCP") 21 motions to dismiss all of the Plaintiffs' claims against it, its wholly-owned subsidiaries, and other defendants; on May 6, 2020, the court granted the Company's ORCP 21 motion in its entirety to dismiss all of Plaintiffs' claims. The judgment of dismissal was entered by the Clackamas County court on or about October 14, 2020. On November 12, 2020, Plaintiffs filed a notice of appeal of the judgement of dismissal. <div> </div> On October 22, 2020, the Company submitted a petition to recover the costs and attorney fees incurred by the Company as the prevailing party in the Oregon Action. On January 20, 2021, the Court ruled in the Company's favor, awarding the Company and its subsidiaries $68,195 in attorney's fees, $1,252 in costs, and a statutory prevailing party fee of $640, through a supplemental judgment. On March 3, 2021, Plaintiffs filed an amended notice of appeal from the supplemental judgement awarding attorney fees. The parties have since briefed the appeal to the Oregon Court of Appeals and await a determination from the Court. It is too early to predict the resolution of the appeal. British Columbia Action: On or about September 13, 2019, the Company delivered a notice to the above-mentioned Plaintiffs of alleged breach and default under the EFF purchase and sale agreement, due to alleged unlawful, intentional acts and material misrepresentations by the Plaintiffs before and after the completion of the purchase. As a result of such breach, the Company denied the Plaintiffs' tender of their share payment notes in connection with the agreement. On or about October 14, 2019, Proudest Monkey Holdings, LLC and one of its current owners, sued the Company in the Supreme Court of British Columbia to compel the issuance and delivery of the subject shares, including interests and costs (the "British Columbia Action"). On November 8, 2019, the Company responded and counterclaimed for general, special and punitive damages, including interest and costs, related to breach of contract, repudiation of contract, breach of indemnity and fraudulent and negligent misrepresentation by the Plaintiffs. Plaintiffs filed a response to the Company's counterclaims on or about June 5, 2020, and the parties stipulated to a form of amended pleading which included the joinder of additional parties, an owner of Proudest Monkey Holdings, LLC and EFF, and additional contract and equitable claims and damages, partially duplicative to those alleged by the Plaintiffs in the Oregon lawsuit (breach of contract, indemnity, unjust enrichment and wrongful termination claims). Plaintiffs allege $2,774,176 in damages (as amended), plus unquantified additional damages, interest and costs, of which amounts are partially duplicative of the Oregon Action. This action remains in the discovery stage, but no trial date has been set. It is too early to predict the resolution of the claims and counterclaims. Settled and Dismissed Action: On or about May 30, 2019, Wallace Hill Partners Ltd. ("Wallace Hill") filed a civil claim in the Supreme Court of British Columbia alleging breach of contract and entitlement to 1,800,000 common shares of the Company, fully vested by March 1, 2019, and damages due to the lost opportunity to sell those shares after such date for a profit. On June 23, 2019, the Company circulated a letter to Wallace Hill terminating the agreement and accepting Wallace Hill's repudiation of the agreement based on Wallace Hill's previously published defamatory comments and termination of the agreement. Also, on June 23, 2019, the Company filed its response to the civil claim denying all claims and filed counterclaims alleging breach of contract, a declaratory judgment of termination of the agreement, defamation and an injunction from further defamatory comments. On March 23, 2022, the Company and Wallace Hill entered into a mutual release agreement, pursuant to which, among other things, all parties agreed to dismiss their respective claims and to release one another from any further causes of action in connection with the subject matter of the original claims. On April 23, 2022, the parties filed a Notice of Discontinuance in the Supreme Court of British Columbia formally dismissing the civil action. </div>

612500

68195

1252

640

2774176

1800000

<div> 23. FINANCIAL INSTRUMENTS The following tables present information about the Company's financial instruments and their classifications as of January 31, 2021 and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value: Fair value measurements at January 31, 2021 using: <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">Level 1</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">Level 2</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">Level 3</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">Total</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Financial liabilities:</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Conversion features of convertible promissory notes (note 14)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">485,157</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">485,157</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Earn out shares (note 14)</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">9,273,970</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">9,273,970</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> The fair value of the conversion feature of convertible promissory notes was determined using the Black-Scholes option pricing model. The assumptions in the model were based on the share price and other active market data that is observable as well as unobservable estimates and therefore represent a level 3 measurement. The fair value of the derivative liability associated with the earn out shares was derived using a Monte Carlo simulation using non-observable inputs, and therefore represent a level 3 measurement. </div>

<table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">Level 1</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">Level 2</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">Level 3</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">Total</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Financial liabilities:</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 4pt;">Conversion features of convertible promissory notes (note 14)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">485,157</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">485,157</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom: 0.75pt solid #000000; vertical-align: bottom; background-color: #e6efff; padding-left: 4pt;">Earn out shares (note 14)</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">9,273,970</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">9,273,970</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table>

485157

9273970