CLS Holdings USA, Inc. Annual report pursuant to Section 13 and 15(d)

LEASE LIABILITIES - FINANCING LEASES

12 Months Ended

May 31, 2022

NOTE 18 – LEASE LIABILITIES - FINANCING LEASES

	May 31, 2022		May 31, 2021
	(unaudited)
Financing lease obligation under a lease agreement for extraction equipment dated March 14, 2022 in the original amount of $359,900 payable in forty-eight monthly installments of $10,173 including interest at the rate of 15.89%. During the year ended May 31, 2022, the Company made principal and interest payments on this lease obligation in the amounts of $10,907 and $9,439, respectively.	$	348,993	$	-

Total	$	348,993	$	-

Current portion	$	71,813	$	-
Long-term maturities		277,180		-
Total	$	348,993	$	-

Aggregate maturities of lease liabilities – financing leases as of May 31, 2022 are as follows:

For the period ended May 31,