SEDAR Interim Financial Statements

[
  {
    "companyName": "CANNARA BIOTECH INC.",
    "reportingPeriodEnd": "2025-11-30",
    "reportStatus": "Unaudited",
    "auditorName": null,
    "auditorKeyMatters": [],
    "balanceSheet": {
      "cash": 16516956,
      "accountsReceivable": 15221605,
      "biologicalAssets": 5914066,
      "inventory": 46052183,
      "prepaidExpensesAndOtherAssets": 1331231,
      "totalCurrentAssets": 85036041,
      "deposits": 159160,
      "deferredFinancingCosts": 131675,
      "depositsOnPropertyPlantAndEquipment": 329309,
      "propertyPlantAndEquipment": 87906210,
      "rightOfUseAsset": 280961,
      "totalAssets": 173843356,
      "accountsPayableAndAccruedLiabilities": 12212455,
      "exciseTaxPayable": 8018805,
      "salesTaxPayable": 2002655,
      "deferredLeaseRevenue": 0,
      "revolvingCreditFacilities": 6758000,
      "currentPortionOfConvertibleDebenture": 0,
      "currentPortionOfLongTermDebt": 139872,
      "currentPortionOfDeferredGrantIncome": 125386,
      "currentPortionOfLeaseLiabilities": 272868,
      "currentPortionOfTermLoan": 1965961,
      "totalCurrentLiabilities": 31496002,
      "leaseLiabilities": 49711,
      "convertibleDebenture": 0,
      "deferredGrantIncome": 1398819,
      "deferredIncomeTaxLiabilities": 4067434,
      "termLoan": 25617244,
      "totalLiabilities": 62629210,
      "shareCapital": 97239451,
      "contributedSurplus": 12756866,
      "retainedEarnings": 1217829,
      "totalEquity": 111214146,
      "cashPerShare": 0.1762,
      "workingCapitalPerShare": 0.5713
    },
    "incomeStatement": {
      "revenueFromSaleOfGoods": 41825588,
      "exciseTaxes": -12715847,
      "netRevenueFromSaleOfGoods": 29109741,
      "leaseRevenue": 970044,
      "otherIncome": 33390,
      "totalRevenue": 30113175,
      "costOfGoodsSold": 16526546,
      "leaseOperatingCosts": 120467,
      "grossProfitBeforeFairValueAdjustments": 13466162,
      "changesInFairValueOfInventorySold": -7061574,
      "unrealizedGainOnChangesInFairValueOfBiologicalAssets": 4805131,
      "grossProfit": 11209719,
      "generalAndAdministrative": 3176544,
      "sellingMarketingAndPromotion": 2709659,
      "professionalAndLegalFees": 346543,
      "researchAndDevelopment": 287449,
      "shareBasedCompensation": 1720646,
      "depreciation": 266737,
      "lossOnDisposalOfPropertyPlantAndEquipment": 0,
      "totalOperatingExpenses": 8507578,
      "operatingIncome": 2702141,
      "netFinanceExpense": 661195,
      "incomeBeforeIncomeTaxes": 2040946,
      "incomeTaxesExpense": 1001397,
      "netIncomeAndComprehensiveIncome": 1039549,
      "earningsPerShareBasic": 0.01,
      "earningsPerShareDiluted": 0.01,
      "weightedAverageNumberOfCommonSharesBasic": 93716275,
      "weightedAverageNumberOfCommonSharesDiluted": 96179509
    },
    "cashFlowStatement": {
      "netIncome": 1039549,
      "changesInFairValueOfInventorySold": 7061574,
      "unrealizedGainOnChangesInFairValueOfBiologicalAssets": -4805131,
      "depreciationOfPropertyPlantAndEquipment": 1512908,
      "depreciationOfRightOfUseAsset": 68044,
      "lossOnDisposalOfPropertyPlantAndEquipment": 0,
      "interestExpense": 552044,
      "interestOnLeaseLiabilities": 8101,
      "interestIncome": -82701,
      "shareBasedCompensation": 1720646,
      "accretionOnFinancingAndAmortizationOfFinancingCosts": 47968,
      "incomeTaxesExpense": 1001397,
      "netChangeInNonCashOperatingWorkingCapitalItems": -163326,
      "cashProvidedByOperatingActivities": 7961073,
      "repaymentOfTermLoan": -491490,
      "proceedFromCreditFacility": 0,
      "paymentOfDebtFinancingIssuanceCosts": -79511,
      "interestPaidOnDebtInstruments": -511291,
      "paymentOfInterestOnLetterOfCredit": 0,
      "leasePayments": -81484,
      "otherLongTermDebtPayments": -81447,
      "cashUsedInFinancingActivities": -1245223,
      "depositsOnPropertyPlantAndEquipment": -302750,
      "acquisitionsOfPropertyPlantAndEquipment": -4315741,
      "proceedFromDisposalOfPropertyPlantAndEquipment": 0,
      "interestReceived": 59581,
      "cashUsedInInvestingActivities": -4558910,
      "netChangeInCash": 2156940,
      "cashBeginningOfPeriod": 14360016,
      "cashEndOfPeriod": 16516956
    },
    "investmentsAndOtherAssets": [
      {
        "type": "Investment Property",
        "description": "Farnham building - non-cannabis licensed area used for lease revenues",
        "ownershipPercentage": 100,
        "value": 7517907,
        "notes": "Measured using cost model as per IAS 16, net book value as at November 30, 2025"
      },
      {
        "type": "Deposits",
        "description": "Deposits on property, plant and equipment",
        "ownershipPercentage": null,
        "value": 329309,
        "notes": "Deposits for future capital expenditures"
      }
    ],
    "shareStructure": {
      "authorizedShares": "unlimited",
      "issuedShares": 94895898,
      "classesOfShares": ["common shares"],
      "warrants": [],
      "options": [
        {
          "number": 121100,
          "exercisePrice": 1.8,
          "expiryDate": "2027-11-30"
        },
        {
          "number": 566000,
          "exercisePrice": 1.8,
          "expiryDate": "2028-11-30"
        },
        {
          "number": 275000,
          "exercisePrice": 1.8,
          "expiryDate": "2029-11-30"
        },
        {
          "number": 2572500,
          "exercisePrice": 1.4,
          "expiryDate": "2030-11-30"
        },
        {
          "number": 1327500,
          "exercisePrice": 1.4,
          "expiryDate": "2031-11-30"
        },
        {
          "number": 3821500,
          "exercisePrice": 1.525,
          "expiryDate": "2031-12-31"
        }
      ],
      "rightsConvertibleInstruments": null
    },
    "managementCompensation": {
      "currency": "CAD",
      "periods": {
        "2025-11-30": {
          "salariesAndBenefits": 300000,
          "shareBasedCompensation": 1396554,
          "boardOfDirectorsFees": 43750,
          "total": 1740304
        }
      },
      "namedIndividuals": [],
      "otherRelatedPartyTransactions": [
        {
          "counterparty": "Entity related to a Board member",
          "description": "Financing of Farnham and Valleyfield Facilities and head office lease",
          "amount": 147001,
          "period": "2025-11-30"
        }
      ]
    },
    "subsequentEvents": [
      {
        "eventDate": null,
        "description": "Cancellation and re-issuance of 544,600 share options to certain board members and employees.",
        "impactValue": null
      },
      {
        "eventDate": null,
        "description": "Issuance of 90,000 common shares in settlement of vested RSUs.",
        "impactValue": null
      },
      {
        "eventDate": null,
        "description": "Performance conditions attached to certain restricted share unit awards were satisfied, resulting in vesting above the original target level, and issuance of 781,250 common shares in settlement of vested PSUs.",
        "impactValue": null
      },
      {
        "eventDate": null,
        "description": "Acceleration of vesting for 15,000 RSUs for which common shares were issued upon vesting.",
        "impactValue": null
      },
      {
        "eventDate": null,
        "description": "Extension of all tranches of the revolving credit facilities for an additional 90-day term.",
        "impactValue": null
      }
    ]
  }
]