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Note 10 - Related Party Transactions

9 Months Ended

Dec. 31, 2023

Disclosure of related party [text block]

10.

RELATED PARTY TRANSACTIONS

Key management personnel include those persons having authority and responsibility for planning, directing and controlling the activities of the Company as a whole. The Company has determined that key management personnel consist of executive and non-executive members of the Company’s Board of Directors and corporate officers and companies controlled by them. The remuneration of directors and other members of key management personnel during the periods ended December 31, 2023 and 2022 was as follows:

For the period ended December 31, 2023 Paid or accrued to:	Management fees		Consulting fees		Share-based payments		Total
Key management personnel:
Current and former directors, officers and companies controlled by them	$	434,131	$	116,123	$	651,125	$	1,201,379

FOREMOST LITHIUM RESOURCE & TECHNOLOGY LTD.
NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
(Expressed in Canadian dollars)
(Unaudited – Prepared by Management)
For the nine months ended December 31, 2023

10.

RELATED PARTY TRANSACTIONS (cont’d…)

For the period ended December 31, 2022 Paid or accrued to:	Management fees		Investor relation fees		Share-based payments		Total
Key management personnel:
Current and former directors, officers and companies controlled by them	$	270,569	$	66,530	$	736,726	$	1,073,825

Additionally, please refer to Note 7 on the short-term related party Loan payable.

The amounts due to related parties included in accounts payable and accrued liabilities are unsecured, non-interest bearing, and have no specific terms of repayment, and are as follows:

As at

December 31,

2023

As at

March 31,

2023

Current and former directors, officers and companies controlled by them

88,139

112,975