Company: TCRG
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001185185-25-001785
Chunk: 23

Company: Cannaisseur Group Inc.
Filing Date: 2025-11-18
Form: 10-Q
Item: Item 1
Chunk 23
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 the Company outstanding (calculated on a fully diluted basis), at the option
of the holder any time prior to repayment. During the three and nine months ended September 30, 2025, the Company accrued interest in
the amount of $221 and $1,510, respectively, on this note.

On July 15, 2025, the Company and Mr. Brown agreed
to convert principal and interest in the amount of $40,000 and $4,095, respectively, due under the Brown Note at a price of $0.022 per
share into 1,987,732 shares of common stock. The fair value of the stock at the conversion date was $0.14 per share, and the Company recognized
a loss on conversion of debt in the amount of $177,474 in additional paid-in capital.

Convertible Note Payable in the amount of $40,000,
dated December 26, 2023, payable to The National Legacy Foundation, a related party. The note bears interest at 6.5% and has a maturity
date of December 26, 2025. The Legacy Foundation Note is convertible into common stock at a conversion price of $0.015, at the option
of the holder any time prior to repayment. During the three and nine months ended September 30, 2025, the Company accrued interest in
the amount of $224 and $1,531, respectively, on this note.

On July 31, 2025, the Company and the National
Legacy Foundation agreed to convert principal and interest in the amount of $40,000 and $4,209, respectively, due under the Brown Note
at a price of $0.023 per share into 1,932,435 shares of common stock. The fair value of the stock at the conversion date was $0.14 per
share, and the Company recognized a gain on conversion of debt in the amount of $142,086 in additional paid-in capital.

On February 4, 2025, the Company issued 2,000,000 shares
of common stock with a fair value of $280,000 to each of its Chief Executive Officer and Chief Financial Officer as compensation
for ongoing services.

On February 4, 2025, the Company issued 1,000,000 shares
of common stock with a fair value of $140,000 to its Corporate Secretary as compensation for ongoing services.

On February 28,