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RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2019

Disclosure of transactions between related parties [abstract]

16. RELATED PARTY TRANSACTIONS

The aggregate value of transactions and outstanding balances relating to key management personnel were as follows:

				Share-based
For the year ended December 31, 2019		Salary or Fees		Payments		Total
Management	$	650	$	568	$	1,218
Outside directors *		152		282		434
Seabord Services Corp.**		437		-		437
Total	$	1,239	$	850	$	2,089

		Salary or Fees &		Share-based
For the year ended December 31, 2018		Bonus		Payments		Total
Management	$	2,693	$	571	$	3,264
Outside directors *		1,513		247		1,760
Seabord Services Corp.**		434		-		434
Total	$	4,640	$	818	$	5,458

* Directors fees include US$5 (2018 - US$5) per month paid to the Company’s non-Executive Chairman, who does not receive the fees paid to the other independent directors.

** Seabord Services Corp. (“Seabord”) is a management services company controlled by the Chairman of the Board of Directors of the Company. Seabord provides a Chief Financial Officer, accounting and administration staff, and office space to the Company. The Chief Financial Officer is an employee of Seabord and is not paid directly by the Company.

Included in accounts payable and accrued liabilities as at December 31, 2019 and 2018 are as follows:

Related Party Assets and Liabilities	Service or Term		December 31, 2019		December 31, 2018
Amounts due to:
David M. Cole, President and CEO	Salary and bonus accrual	$	12	$	1,501
Christina Cepeliauskas, CFO	Bonus and expense reimbursement		-		238
Jan Steiert, Chief Legal Officer	Salary and bonus accrual		-		239
Directors	Fees and bonus accruals		24		1,387
		$	36	$	3,365

Discretionary Bonuses

In 2018 the Company awarded discretionary bonuses to management and staff totaling $5,224 in respect of their seven years of effort to monetize the Company’s investment in IGC. Prior to the Malmyzh sales transaction, EMX’s management had developed a bonus plan for strategic investments whereby a percentage of the after-tax profits of an individual investment could be paid as a bonus.

By way of a common director, included in Note receivable (Note 7) are certain balances owing from a related party.