AXE RECEIVED Alberta IEG GRANT of $ 305,467.00 In Q3/2024 10. Research and development
b)
The Government of Alberta’s Innovation Employment Grant (“IEG”) to support research and development was effective January 1, 2021 and provides a grant of up to 20% of eligible R&D expenses incurred in Alberta. This new grant effectively replaced Alberta’s 10% scientific research and experimental development refundable tax credit that was eliminated as at December 31, 2019. The Company met the eligibility criteria, claimed eligible R&D expenditures and received $434,023 in the three months ended March 31, 2023 related to 2021 eligible expenditures and $119,785 in the three months ended September 30, 2023 related to 2022 eligible expenditures. Subsequent to June 30, 2024, the Company received $305,467 related to 2023 eligible expenditures.
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