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RELATED PARTY TRANSACTIONS
 3 Months Ended
Mar. 31, 2024
RELATED PARTY TRANSACTIONS  
RELATED PARTY TRANSACTIONS

12.

RELATED PARTY TRANSACTIONS

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

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​

​

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March 31, 2024

    

December 31, 2023

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​

$

​

$

Directors and officers of the Company

 

160,475

 

93,795

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160,475

 

93,795

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

(a)

Related party transactions

As a result of the Financing Transactions on June 28, 2023 and December 14, 2023, Cymbria and certain other funds managed by EdgePoint (the “Financing Parties”) have acquired a total of 16,037,800 common shares of the Company, representing approximately 10.7% of the Company’s issued and outstanding shares. The Financing Parties also acquired on closing an aggregate of 6,024,000 warrants with an expiration date of June 28, 2026 and an exercise price of $1.4375 which, if exercised, together with the shares acquired at closing would result in the Financing Parties holding approximately 14.2% of the shares in the aggregate (calculated on a partially-diluted basis). As the result of the closing of the Financing Transactions, the Financing Parties are now related parties of PNRL. During the three months ended March 31, 2024, the Company paid interest of $519,206 to the Financing Parties (March 31, 2023 – Nil).

(b)

Key management personnel is defined as members of the Board of Directors and senior officers.

Key management compensation was related to the following:

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March 31, 2024

    

March 31, 2023

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​

$

​

$

Management fees

​

777,809

​

802,074

Corporate and administration expenses

 

110,400

 

59,182

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888,209

 

861,256

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