Company: TCRG
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001185185-25-000206
Chunk: 503

Company: Cannaisseur Group Inc.
Filing Date: 2025-03-21
Form: 10-K
Item: Item 5
Chunk 503
---
 of December 31, 2024, the amount due under the short-term loan was $1,500. See Note
3.

F-12

Convertible
Note Payable in the amount of $5,000, dated November 18, 2024, payable to Ridolfo R. Brown, a related party. The note bears interest
at 6.5% and has a maturity date of November 18, 2026. The Brown Note 3 is convertible into common stock at a conversion price equal to
the lesser of (i) 80% of the lowest price per share paid by the investors purchasing equity securities with an aggregate sales price
of not less than One Million Dollars, or (ii) the number equal to $3,500,000 divided by the numbers of shares of the Company outstanding
(calculated on a fully diluted basis), at the option of the holder any time prior to repayment. During the year ended December 31, 2024
and 2023, the Company accrued interest in the amount of $38 and $0, respectively, on this note.

Convertible
Note Payable in the amount of $6,000, dated August 15, 2024, payable to Ridolfo R. Brown, a related party. The note bears interest at
6.5% and has a maturity date of August 15, 2026. The Brown Note 2 is convertible into common stock at a conversion price equal to the
lesser of (i) 80% of the lowest price per share paid by the investors purchasing equity securities with an aggregate sales price of not
less than One Million Dollars, or (ii) the number equal to $3,500,000 divided by the numbers of shares of the Company outstanding (calculated
on a fully diluted basis), at the option of the holder any time prior to repayment. During the year ended December 31, 2024 and 2023,
the Company accrued interest in the amount of $147 and $0, respectively, on this note.

Convertible
Note Payable in the amount of $40,000, dated January 3, 2024, payable to Ridolfo R. Brown, a related party. The note bears interest at
6.5% and has a maturity date of January 3, 2026. The Brown Note is convertible into common stock at a conversion price equal to the lesser
of (i) 80% of the lowest price