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Related Party Transactions

3 Months Ended

Mar. 31, 2021

Disclosure of transactions between related parties [abstract]

RELATED PARTY TRANSACTIONS

The following amounts due to related parties are included in trade payables and accrued liabilities (Note 6):

(All amounts in table are expressed in thousands of Canadian dollars)

	March 31, 2021		December 31, 2020
Directors and officers of the Company		94		21
Related company		10		7
Total		104		28

These amounts are unsecured, non-interest bearing and have no fixed terms of repayment.

The following amount due from related party and advance represent as well as investment in Premium Nickel a private company incorporated in Ontario, in which certain directors and officers of the Company also hold offices and minority investments.

(All amounts in table are expressed in thousands of Canadian dollars)

	March 31, 2021		December 31, 2020
Due from related party		76		55
Advance		-		50
Investment		132		48
Total		208		153

(a)	Related party transactions

2020

Sentient Executive GP IV Limited (“Sentient”) and Contemporary Amperex Technology Limited (“CATL”) have historically subscribed to private placements of the Company.

As of March 31, 2021, Sentient beneficially owns 36,980,982 common shares, constituting approximately 33.66% of the currently issued and outstanding common shares of the Company.

As of March 31, 2021, CATL beneficially owns 22,944,444 common shares, constituting approximately 20.89% of the currently issued and outstanding shares of the Company. CATL has pre-emptive rights and the right to nominate one director to the board of directors of the Company.

During the three months period ended March 31, 2021, the Company recorded $11,230 (March 31, 2020 - $35,701) in fees charged by a legal firm in which the Company’s former chairman is a consultant.

(b)	Key management personnel are defined as members of the Board of Directors and senior officers.

Key management compensation was:

(All amounts in table are expressed in thousands of Canadian dollars)

	March 31, 2021		March 31, 2020
Geological consulting fees – expensed		-		5
Management fees – expensed		183		116
Salaries - expensed		-		33
Share-based payments		621		671
Total		804		825