v3.26.1
NON-CONTROLLING INTERESTS
 3 Months Ended
Mar. 31, 2026
Non-controlling Interests  
NON-CONTROLLING INTERESTS

 

23. NON-CONTROLLING INTERESTS

 

The activity in non-controlling interest for three months ended March 31, 2026 and year ended December 31, 2025 are as follows:

 

               
    March 31,
2026		     December 31,
2025		  
    $     $  
Balance, beginning of period     3,015,133       1,629,981  
Sale of 20% ownership of GRMA     2,985,000       -  
Dividends issued from Golden Harvest to minority owner     (56,800 )     (115,000 )
Dividends issued from GRMA to minority owner     (28,356 )     -  
Net income for the period attributed to non-controlling interest     488,826       1,500,152  
Balance, end of period     6,403,803       3,015,133  

 

During the three months ended March 31, 2026, the Company sold 20% of its ownership in GRMA through the sale of 20 voting preferred units of GRMA (the “GRMA Units”) at a par value of $150 per unit for gross proceeds of $3,000,000 and paid issuance costs of $15,000. The GRMA Units pay a minimum cumulative non‑compounded preferred return of 15% per annum on unreturned capital contributions. If required quarterly distributions are not paid within the specified grace period, the preferred return increases to 20% per annum, compounded quarterly, until paid.