AXE RECEIVED CRIN CASH REBATE Of $ 577,763.00 In Q2/2024 10. Research and development
a)
A grant funding agreement was entered into with Clean Resource Innovation Network (“CRIN”) as of July 13, 2023 which provides non-dilutive and non-repayable funding of up to $3,000,000 for costs incurred between January 1, 2022 and March 31, 2024 on the commercial-scale pilot test of the RF XL technology. The funding is provided in arrears based on completion of certain milestones. The Company received $577,763 in the three months ended June 30, 2024, $nil in the three months ended March 31, 2024 and $2,064,433 in the three months ended December 31, 2023. The remaining amount claimed but not yet received from CRIN is $357,804.
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