v3.26.1
LONG-TERM DEBT
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
LONG-TERM DEBT

 

11. LONG-TERM DEBT

 

Transactions related to the Company’s long-term debt for the three months ended March 31, 2026 and year ended December 31, 2025 include the following:

 

               
    March 31,
2026		     December 31,
2025		  
    $     $  
Balance, beginning of period     12,595,529       2,301,790  
Advances     500,000       12,630,345  
Debt issuance costs     -       (739,313 )
Interest and accretion expense     320,026       870,228  
Payments     (733,431 )     (2,467,521 )
Balance, end of period     12,682,124       12,595,529  
Current portion     2,765,900       2,576,228  
Non-current portion     9,916,224       10,019,301  

 

During the three months ended March 31, 2026, the Company recognized accretion expense of $42,210 (2025 - $nil) on amortization of debt financing costs on long-term debt.

 

A summary of the maturity of contractual undiscounted liabilities associated with the Company’s long-term debt as of March 31, 2026 is as follows:

 

       
    Amount ($)  
2026     3,234,035  
2027     3,717,383  
2028     2,789,652  
2029     5,876,974  
Total payments     15,618,044  
Less: Unamortized interest     (2,935,920 )
Total long-term debt     12,682,124