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RELATED PARTY TRANSACTIONS
 6 Months Ended
Jun. 30, 2022
RELATED PARTY TRANSACTIONS

 

9.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)

 

           
  

June 30,

2022

   December 31, 2021 
Directors and officers of the Company   67    28 
Related company   -    5 
Total   67    33 

 

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

 

The following amount represent amount due from Premium Nickel as well as the investment in this private company, 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)

 

           
  

June 30,

2022

   December 31, 2021 
Due from related party   280    199 
Investment   -    321 
           
Total   280    520 

 

(a)Related party transactions

 

2022

 

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

 

 

Notes to the unaudited Condensed Interim Consolidated Financial Statements

For the six months ended June 30, 2022

(Expressed in Canadian dollars)

 

As of June 30, 2022, 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 June 30, 2022, 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.

 

(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)

 

           
   June 30, 2022   June 30, 2021 
Management fees – expensed   327    386 
Share-based payments   -    621 
Total   327    1,007