Long-term debt (Tables)

Long-term

debt consists of the following:

Term loan from SLR Credit Solutions, bearing interest at an annual rate of CORRA plus a CORRA adjustment and 7.75%, repayable at maturity in December 2026, secured by the assets of the Company (net of deferred financing costs of $140 and $181, respectively). Refer to Note 6 for additional information.

$10 million term loan from Investissement Québec, bearing interest at an annual rate of 3.14%, repayable in 60 equal payments beginning in July 2021 (net of deferred financing costs of $nil and $2, respectively)

$0.4 million term loan from Business Development Bank of Canada, bearing interest at an annual rate of 8.3% repayable in 72 monthly payments beginning in July 2021.

U.S. $1.5 million cash advance owing to the Company’s controlling shareholder, Montel, bearing interest at an annual rate of 11%, net of withholding taxes (Note 16 (c))

Obligations under finance leases, at annual interest rates between 0.9% and 20%,

secured by leasehol

improvements, furniture, and equipment, maturing at various dates to November 2026 (net of deferred financing costs of $25 and $42, respectively)

Eligible borrowing amount of up to $4.3 million loan from Investissement

Québec

, bearing interest at an annual rate of 1.41%, repayable in 60 equal payments beginning in June 2027 (

net

of deferred financing costs of $76 and $86, respectively)

Current portion of long-term debt

Future minimum lease payments for finance leases required in the following five years are as follows (in thousands):

Less imputed interest

Principal payments on long-term debt required in the following five years and thereafter, including obligations under finance leases, are as follows (in thousands):