Loans Payable to Related Parties

3 Months Ended

Mar. 31, 2019

Loans Payable to Related Party [Text Block]

14. Loans Payable to Related Parties

		March 31, 2019		December 31, 2018
Travellers International Inc.	$	56,123	$	146,500
Directors		56,122		54,975
	$	112,245	$	201,575

Loan payable in the amount of $56,123 ($75,000 CAD) (December 31, 2018-$146,500; $200,000 CAD), owing to Travellers bears interest at the rate of 12% per annum, is due on demand and is unsecured. As at March 31, 2019 $17,196 ($22,980 CAD) (December 31, 2018-$13,110; $17,885 CAD) in interest is included in accrued liabilities.

Loans payable to directors in the amount of $56,122 ($75,000 CAD) (December 31, 2018-$54,975; $75,000 CAD), owing to three directors bears interest at the rate of 12% per annum, is due on demand and is unsecured. As at March 31, 2019, $6,532 ($8,729 CAD) (December 31, 2018-$4,772; $6,510 CAD) in interest is included in accrued liabilities.

During the three-month period ended March 31, 2019, $5,472 ($7,274 CAD) (2018-$293; $371 CAD) in interest was charged on the loans payable to related parties.