Company: TCRG
Filing Date: 2025-07-21
Form Type: 10-Q
Source: 0001185185-25-000810
Chunk: 17

Company: Cannaisseur Group Inc.
Filing Date: 2025-07-21
Form: 10-Q
Item: Item 1
Chunk 17
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18,000,
to be paid in monthly installments of $1,500 for 12 months. The Company derecognized a right of use asset of $4,185 and lease liability
of $2,726 and recorded a gain on the settlement in the amount of $18,968.

During the three months ended March 31, 2025 and
2024, the Company made payments of $0 on the rental settlement. As of March 31, 2025 and December 31, 2024, the amount due under the settlement
payable was $9,501.

7. Related Party Transactions

On October 28, 2024, the Company entered into
an agreement with Xavier Carter, its Chief Financial Officer, for a short-term loan in the amount of $1,500. If repaid within 90 days,
the loan has an interest rate of 0%. If the loan is not repaid on the due date of January 28, 2025, interest will accrue at a rate of
6.5%. The loan was paid in full on January 23, 2025. As of March 31, 2025, the amount due under the short-term loan was $0.

13

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 three months ended March 31, 2025 and 2024, the Company accrued interest in the
amount of $80 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, 202