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Share Capital

12 Months Ended

Mar. 31, 2025

Share Capital [Abstract]

Share capital

15. Share capital

a) Authorized

The Company is authorized to issue an unlimited number of Common Shares, each without par value.

b) Issued and outstanding

On November 26, 2024, the Company consolidated its common shares on the basis of 75:1.

On May 5, 2025, the Company consolidated its common shares and warrants on the basis of 7.97:1. All common shares and value per share amounts have been updated to reflect the share consolidations.

As at March 31, 2025, there were 568,021 (March 31, 2024 – 22,402) issued and outstanding Common Shares.

	2025
Common shares	Number		Amount ($)
Opening balance April 1, 2024		22,402		46,125,397
Shares issued on conversion of convertible note		38,156		4,617,286
Shares issued on conversion of convertible note warrants		22,876		639,954
Shares issued for ELOC		218,900		6,692,495
Commitment shares ELOC		3,392		187,500
Share issuance costs for ELOC		-		(469,600	)
Warrant exchange		1,104		192,060
Shares issued to third party advisors		586		241,379
Shares issued on conversion of PGI promissory notes		47,265		988,569
Shares issued on conversion of NCAC promissory notes		52,275		1,096,358
Shares issued for PsyLabs share exchange		35,594		722,033
Shares issued for PIPE financing		47,679		313,628
Share issuance costs for PIPE financing		-		(40,449	)
Shares issued for PIPE pre-funded warrants exercised		77,792		511,690
Shares issuance costs for PIPE pre-funded warrants exercised		-		(65,995	)
Balance as at March 31, 2025		568,021		61,752,305

On January 25, 2024, because of the completion of the RTO Transaction, the Company issued 8,365 Common Shares to PGI, 13,040 to the previous shareholders of NCAC and 997 to third party advisors (see Note 5).

Payments to advisors of NCAC was settled in the Company’s shares upon RTO Transaction at the closing price. Accounts payable of $2,136,340 acquired from NCAC as part of the RTO Transaction was settled through the issuance of 746 shares at a fair value of $2,863.22 per share on January 25, 2024.

An amount of $1,000,000 owing by the Company for services provided in relation to the RTO Transaction was settled through the issuance of 251 common shares at a fair value of $2,863.22. A gain on settlement of $281,500 was included in the consolidated statements of net loss and comprehensive loss relating to this advisor settlement.

The opening balance of equity is the net parent investment which represents the net financings that the Company received from PGI to fund its operations through contributions to the clinical trials, cash extended to the Company’s subsidiaries and the net effect of cost allocations from transactions with PGI, all of which did not require repayments.

c) Income/(Loss) per share

The calculation of basic and diluted income/(loss) per share is based on the income/(loss) for the year divided by the weighted average number of shares in circulation during the year. In calculating the diluted loss per share, potentially dilutive shares such as options, convertible debt and warrants have not been included as they would have the effect of decreasing the loss per share, and they would therefore be anti-dilutive.

d) Warrant Reserve

As at March 31, 2025, there were 261,188 (March 31, 2024 – nil) issued and outstanding Warrants.

	2025
Warrants	Number			Amount ($)
Opening balance April 1, 2024		-			-
Warrants issued for convertible note Addendum		837			42,528
Warrants issued for convertible note Termination Agreement		22,876			639,954
Convertible note Termination Agreement warrants exercised		(22,876	)		(639,954	)
PIPE financing warrant issuance		328,734			1,686,372
PIPE financing warrant issuance costs		9,409			137,778
Issuance costs for PIPE financing warrants		-			(355,278	)
PIPE pre-funded warrants exercised		(77,792	)		(511,690	)
Issuance costs for PIPE pre-funded warrants exercised		-			65,995
Balance as at March 31, 2025		261,188			1,065,705

The following warrants were outstanding and exercisable at March 31, 2025:

Issue Date	Expiry Date	Exercise Price		Number of Warrants Outstanding		Number of Warrants Exercisable
August 20, 2024	August 20, 2026	$	298.88		837		837
December 24, 2024	December 24, 2029	$	15.94		125,471		125,471
December 24, 2024	December 24, 2026	$	15.94		125,471		125,471
December 24, 2024	December 24, 2029	$	19.93		9,409		9,409