NOTE 12: CONVERTIBLE NOTES PAYABLE

12 Months Ended

Dec. 31, 2019

Note 12 Convertible Notes Payable

CONVERTIBLE NOTES PAYABLE

			As at December 31,
	2019		2018		2017
Balance, beginning of period	$-		$-		$-
Issue of notes payable		188,893		—		—
Unrealized foreign exchange loss		3,596		—		—
Interest expense		228		—		—
Balance, end of period		192,717		—		—
Less: non-current portion of notes payable		—		—		—
Current portion of notes payable	$	192,717	$	—	$	—

On December 9, 2019, the Company issued a convertible promissory note payable in the amount of $188,893 (C$250,000). The convertible promissory note payable is due December 9, 2021 and bears interest at 2% per annum. The convertible promissory note is convertible at a share price equal to the closing share price on the date prior to conversion for total shares equal to the face value of the note divided by the closing share price. As the settlement is fixed at the face value of the obligation the Company has determined that the conversion option has $nil value.