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RELATED PARTY TRANSACTIONS | 9 Months Ended
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Sep. 30, 2022
Related Party Transactions |
RELATED PARTY TRANSACTIONS |
10. | RELATED PARTY TRANSACTIONS
The following amounts due to related parties are included in trade payables and accrued liabilities (Note 8). SCHEDULE OF AMOUNTS DUE TO RELATED PARTIES, INCLUDED IN TRADE PAYABLES AND ACCRUED LIABILITIES
|  | September 30, 2022 |  |  | December 31, 2021 |
Directors and Officers of the Company |  |  | 32,860 |  |  |  | 26,759 |
NAN |  |  | - |  |  |  | 199,145 |
Total |  |  | 32,860 |  |  |  | 225,904 |
These amounts are unsecured, non-interest bearing and have no fixed terms of repayment.
(a) | Related-party transactions
During the nine months ended September 30, 2022, ThreeD Capital subscribed for 1,213,538 common shares of PNRC (representing 1,279,069 common shares of the Company following the RTO, on a post-Consolidation basis), representing an investment of US$2,427,076 (2021 - $374,123). As of September 30, 2022, ThreeD Capital beneficially owns or controls 8,662,347 common shares of the Company (2021 - 7,383,278 shares) on a post-Consolidation basis, representing approximately 7.5% (2021 - 9.14%) of the issued and outstanding common shares of the Company as at September 30, 2022. Between March 2, 2022 and March 3, 2022, PNRC issued promissory notes to its officers and directors as well as its shareholders as below:
Directors and Officers of the Company |  |  | 35,000 |
ThreeD Capital |  |  | 762,180 |
NAN |  |  | 1,270,000 |
Total |  |  | 2,067,180 |
Notes to the Unaudited Condensed Interim Consolidated Financial statements For the Three and Nine Months Ended September 30, 2022 (Expressed in Canadian dollars) On April 30, 2022, all amounts owing in respect of the above promissory notes were repaid in full by payment of cash in an amount of $2,018,568, including interest and fees, and by issuing 310,000 PNRC Shares (326,740 shares of the Company) on a post-RTO and post-consolidation basis).
(b) | Key management personnel is defined as members of the Board of Directors and senior officers.
Key management compensation was as follows: SCHEDULE OF KEY MANAGEMENT COMPENSATION
|  | September 30, 2022 |  |  | September 30, 2021 |
Management fees |  |  | 1,701,211 |  |  |  | 436,626 |
Due diligence BCL |  |  | - |  |  |  | 90,000 |
Corporate and administration expenses |  |  | 40,884 |  |  |  | 96,555 |
Total |  |  | 1,742,095 |  |  |  | 623,181 |

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