15. Loans Payable

As part of the Norway Acquisition (Note 5) the Company assumed loans with a principal balance of $2,559,599 (NOK 20,915,000). The loans from the Norway Acquisition are in default as at March 31, 2021. On May 10, 2021, the Company sold the Norway subsidiary which included the loans (Note 5). On March 31, 2021, as part of the sale of the net assets in Boden Technologies AB (Note 28), the Company incurred a loan payable.

A continuity of the loan balances are as follows:

		Norway			Boden			Total
		(Notes 5)			(Note 28)

Balance - March 31, 2020		2,713,073			-			2,713,073
Additions (Note 25)		-			18,361,495			18,361,495
Interest		207,678			-			207,678
Foreign exchange movement		251,338			-			251,338
Balance - March 31, 2021		3,172,089			18,361,495			21,533,584
Interest		25,133			172,804			197,937
Repayment		-			(1,259,778	)		(1,259,778	)
Foreign exchange movement		129,645			(1,582,182	)		(1,452,537	)
Sale of Norway subsidiary (Note 5)		(3,326,867	)		-			(3,326,867	)
Balance - March 31, 2022		-			15,692,339			15,692,339
Less: Current portion		-			(1,224,102	)		(1,224,102	)
Non-current portion	$	-		$	14,468,237		$	14,468,237