Related Party Transactions

12 Months Ended

Mar. 31, 2018

13.)

Related Party Transactions

Included in accounts payable and accrued liabilities as at March 31, 2018 is $Nil (2017 - $8,125) owing to two directors who are also officers and significant shareholders of the Company for unpaid management fees. In December 2016, 1,316,173 common shares were issued to the two directors to satisfy the amount of the outstanding debt. See also Notes 6, 10(a), 10(c), and 12.

Included in advances to shareholders and related parties is an amount of $60,855 from three officers of the Company as at March 31, 2018 (2017 - $17,656), who is also a director and officer of the Company for funds advanced under his employment agreement (See Note 12). The amount receivable is unsecured, non-interest bearing, repayable upon demand and $9,356 (2017 - $17,656) was offset by an allowance for doubtful accounts and a recovery of $8,300 is shown as a recovery on the statement of operations for the year ended March 31, 2018.

Management fees and consulting fees in the amount of $418,875 (2017 - $418,875) were waived by the officers of the Company during the year ended March 31, 2018.

Algae Dynamics Corp. 10-K