v3.26.1
Consolidated Statements of Cash Flows - CAD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Operating Activities    
Net loss for the year $ (5,524,828) $ (5,230,946)
Adjustments for:    
Change in estimate and accretion of ARO (465,538) (286,545)
Share-based compensation 2,464,626 756,784
Depreciation 363,001 230,592
Non-cash interest and finance costs 430,646 597,227
Foreign exchange loss (5,960)  
Flow-through premium (102,524) (4,192)
Fair value revaluation - marketable securities (3,879,293) (103,897)
Changes in non-cash working capital items    
Amounts receivable (176,372) (103,847)
Prepaid expenses and other assets (129,171) (100,385)
Accounts payable and accrued liabilities 1,042,188 933,913
Deferred revenue 414,323  
Cash Used in Operating Activities (5,568,902) (3,311,296)
Investing Activities    
Purchase of marketable securities (75,000) (1,000,000)
Purchase of property, plant, and equipment (179,494) (452,988)
Restricted cash advanced   (162,000)
Proceeds - sales of marketable securities 775,932 27,755
Cash Provided by (Used in) Investing Activities 521,438 (1,587,233)
Financing Activities    
Proceeds from issuance of common shares 3,305,907 1,814,999
Share issuance costs (252,277) (145,395)
Interest payment on secured convertible debenture   (33,000)
Repayment of lease liabilities (79,370) (31,975)
Loan proceeds 690,446  
Proceeds from warrants exercised 807,791  
Proceeds from stock options exercised 811,150  
Cash Provided by Financing Activities 5,283,647 1,604,629
Net change in cash and cash equivalent for the year 236,183 (3,293,900)
Cash and cash equivalent - beginning of year 1,462,218 4,756,118
Cash and cash equivalent - end of year 1,698,401 1,462,218
Non-cash transactions:    
Property, plant and equipment purchase in accounts payable and accrued liabilities 142,013  
Fair value of stock options exercised 539,578  
Fair value of shares issued to settle RSUs vested 300,000  
Reclassification of the equity component of convertible debentures upon conversion 172,626 12,303
Shares issued to settle convertible debentures and interest 5,025,114 314,262
Initial recognition of flow-through premium liability   106,716
Initial recognition of right-of-use assets and lease liabilities 212,071 64,476
Breakdown of cash and cash equivalent:    
Cash 1,640,901 1,402,218
GIC 57,500 60,000
Cash and cash equivalent - end of year $ 1,698,401 $ 1,462,218