RELATED PARTY DISCLOSURES

12 Months Ended

Jan. 29, 2022

RELATED PARTY DISCLOSURES

21 - Related Party Disclosures

21. RELATED PARTY DISCLOSURES

Loan to a Company controlled by one of the Company’s executive employees

During the second quarter of 2019, the Company entered into a secured loan agreement with Oink Oink Candy Inc., doing business as “Squish,” as borrower, and Rainy Day Investments Ltd. (“RDI”), as guarantor pursuant to which the Company agreed to lend to Squish an amount of up to $4.0 million, amended on September 13, 2019 to reflect a maximum amount available under the facility of $2.0 million. RDI guaranteed all of Squish’s obligations to the Company and, as security in full for the guarantee, gave a movable hypothec (or lien) in favor of the Company on its shares of the Company. Squish is a company controlled by Sarah Segal, the Chief Executive Officer and Chief Brand Officer of the Company and a member of the Board of Directors. RDI, the principal shareholder of the Company, is controlled by Herschel Segal, Strategic Advisor of the Company and recently retired Chairman of the Board of Directors. The Company and Squish previously entered into a Collaboration and Shared Services Agreement pursuant to which they collaborate on and share various services and infrastructure.

During the first quarter of 2020, the loan of $2.0 million and accrued interest of $45, including $19 which was earned in the first quarter, was fully repaid.

Other transactions with related parties are measured at the exchange amount, being the consideration established and agreed to by the related parties.

During the year ended January 29, 2022, the Company purchased merchandise for resale from a company controlled by one of its executive employees amounting to $305 [January 30, 2021 - $139, February 1, 2020 - $124]. As of January 29, 2022, an amount of $nil was outstanding and presented in Trade and other payables.

The Company also provided infrastructure and administrative services of $60 [January 30, 2021 - $90, February 1, 2020 - $312] to a company controlled by one of its executive employees.

               There was no spend for consulting services from a related party of the principal shareholder in January 30, 2022 [January 30, 2021 - $53, February 1, 2020 - $237].

There were no amounts receivable from, or payable to related parties at January 29, 2022.

Transactions with key management personnel

Key management of the Company includes members of the Board as well as certain executive officers. The compensation expensed by key management in aggregate was as follows:

	For the year ended
	January 29,		January 30,		February 1,
	2022		2021		2020
	$		$		$
Wages, salaries, bonus and director fees		2,182		2,261		2,784
Termination benefits		—		132		110
Stock-based compensation		1,258		736		669
Total compensation earned by key management personnel		3,440		3,129		3,563