| Related party transactions |
13.Related party transactions
All related party transactions were measured at fair value. All amounts due from/payable to related parties are unsecured, non-interest bearing and have no fixed terms of repayment.
During the year ended December 31, 2025, the Company incurred the following transactions with related parties:
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a) |
Wages and benefits and professional fees were paid or accrued to Allen Davidoff, the Chief Executive Officer (“CEO”), in the amount of $324,738 (2024 - $391,655; 2023 - $337,794).
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b) |
Fees were paid or accrued to Michael Bumby, the Chief Financial Officer (“CFO”) of the Company in the amount of $160,980 (2024 - $156,335 (paid or accrued to the former and current CFO; 2023 - $156,217 (paid or accrued to the former CFO)).
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c) |
Research and development fees were paid or accrued to Haworth Biopharmaceutical Consulting Services Inc., a company owned by Stephen Haworth, the Chief Medical Officer (“CMO”) of the Company in the amount of $96,000 (2024 - $110,445; 2023 - $200,229).
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d) |
Consulting fees were paid or accrued to Stacy Evans, the Chief Business Officer (“CBO”) of the Company in the amount of $150,000 (2024 - $157,500; 2023 - $280,000).
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e) |
Directors’ fees were paid or accrued to the directors of the Company in the amount of $215,568 (2024 - $172,229; 2023 - $182,675). The amount includes director fees payment of $128,877 for the year ended December 31, 2025 (2024 - $123,133; 2023 - $133,967) to Anthony Giovinazzo, Chairman of the Company.
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f) |
As at December 31, 2025, $10,730 (2024 - $11,120) was payable to directors of the Company, $28,044 (2024 - $7,705) was payable and accrued to the CFO of the Company for CFO services, $16,000 (2024 - $8,000) was payable and accrued to the CMO of the Company for consulting services,and $37,500 (2024 - $12,500) was payable and accrued to the CBO of the Company for consulting services. The balances are unsecured, non-interest bearing, and have no fixed terms of repayment.
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g) |
Management and directors’ key management compensation transactions for the years ended December 31, 2025, 2024, and 2023 are summarized as follows:
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Management |
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Share-based |
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Compensation |
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Directors’ fees |
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payments |
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Total |
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$ |
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$ |
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$ |
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$ |
Year ended December 31, 2023 |
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Directors and officers |
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974,240 |
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182,675 |
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77,779 |
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1,234,694 |
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Year ended December 31, 2024 |
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Directors and officers |
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815,935 |
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172,229 |
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85,680 |
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1,073,845 |
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Year ended December 31, 2025 |
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Directors and officers |
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731,718 |
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215,568 |
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14,559 |
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961,845 |
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