Annual report pursuant to Section 13 and 15(d)

Note 10 - Trade and Other Payables

v3.20.2
Note 10 - Trade and Other Payables
12 Months Ended
Mar. 31, 2020
Notes to Financial Statements  
Accounts Payable and Accrued Liabilities Disclosure [Text Block]
10.
Trade and other payables:
 
 
    March 31, 2020     March 31, 2019  
    $     $  
Trade payables    
1,713
     
3,047
 
Accrued liabilities and other payables    
4,247
     
7,697
 
Employee salaries and benefits payable    
1,359
     
825
 
Legal settlement paid via common shares    
-
     
738
 
Total trade and other payables    
7,319
     
12,307
 
 
On
May 10, 2019,
the Corporation announced the settlement regarding legal claims made by its former chief executive (“CEO”) officer with respect to the termination of his employment. Pursuant to the settlement agreement, the Corporation agreed to issue
900,000
common shares at
CAD$1.10
per share to the former CEO.  In addition, the Corporation agreed to reimburse the former CEO for legal fees of
$52.
Furthermore, pursuant to the settlement agreement, the Corporation receives a full and final release from the former CEO on all procedures in connection with the termination of his employment. This settlement was accrued as at
March 31, 2019
and the expense of
$790
was included as part of General and administrative expenses. The case is closed, and
no
further costs are expected.