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LOAN AGREEMENT
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THIS AGREEMENT made the 12th day of January, 2006.
BETWEEN:
XXXX XXXXXX, of 0000 Xxxxx Xxxxx Xxxxx, Xxxxx Xxxxxxxxx,
Xxxxxxx Xxxxxxxx, X0X 0X0;
("Xxxxxx")
OF THE FIRST PART
AND:
MATRIX VENTURES, INC., a company incorporated pursuant to the
laws of Nevada with an address for service at 0000 X Xxxxxx
Xxxxxx, Xxxxx 000, Xxxxxx Xxxx, Xxxxxx, 00000
("Matrix")
OF THE SECOND PART
WHEREAS:
A. Matrix requires funding in connection with its business operations in
the mineral property exploration sector;
X. Xxxxxx is prepared to loan up to $150,000 (the "Loan") to Matrix, on
certain terms and conditions contained herein;
NOW THEREFORE THIS AGREEMENT WITNESSETH that for and in
consideration of the sum of TEN DOLLARS ($10.00), and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the
parties hereto agree as follows:
1. Xxxxxx hereby agrees to advance Loan from time to time upon the request
of Matrix up to the maximum amount of the Loan.
2. The Loan shall be unsecured and bear simple interest at a rate of 10%
per annum, calculated in arrears on a monthly basis and continuing
until the entire Loan amount is paid in full.
3. The Loan, as well as all accrued interest shall be due and payable from
Matrix to Xxxxxx on demand.
4. All funds and dollar amounts referred to in this Agreement are in the
lawful currency of United States, unless otherwise stated.
5. This Agreement shall be interpreted in accordance with the laws in
effect from time to time in the Province of British Columbia.
IN WITNESS WHEREOF the parties hereto have hereunto affixed
their respective hands, both as of the day and year first above written.
MATRIX VENTURES, INC.
/s/ Xxxx Xxxxxx PER: /s/ Xxxx Xxxxxx
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XXXX XXXXXX Authorized Signatory