Vision Marine Technologies Inc.
For the period ended May 31, 2025. Filed Jul 11, 2025.
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May 31, 2025 · Filed Jul 11, 2025
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EX-99.1 · 22. Commitments
22. Commitments
In addition to the obligations under leases*[note 11]*, the Company is subject to supply agreements with minimum spend commitments. The amount of the minimum fixed and determinable portion of the unconditional purchase obligations over the next years, is as follows:
| | | |
|---|---|---|
| · $ | ||
| 2025 | | 947,765 |
| 2026 | | 2,941,308 |
In October 2021, EB Rental FL Corp. has entered into lease arrangement for premises, which have not commenced yet and therefore related right-of-use asset and lease liability are not recorded as at May 31, 2025. The lease offers EB Rental FL Corp. a termination clause in case certain contractual requirements is not met by the lessor at the lease commencement date.
The Company’s undiscounted lease commitments related to this lease are as follows as at May 31, 2025:
| | | |
|---|---|---|
| · $ | ||
| 2026 | | 123,822 |
| 2027 | | 167,572 |
| 2028 | | 170,924 |
| 2029 and thereafter | | 396,841 |
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