LOAN AGREEMENT January 13, 2017
EXHIBIT 10.50
January 13, 2017
Perla Capital Inc. (the “Lender”) of Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Islands MH96960, advanced USD$25,000 (the “Principal Sum”) to Cell MedX Corp. (the “Borrower”) of 000 X. Xxx Xx, Xxxxx 000, Xxxxxx Xxxx, XX 00000. The Lender advanced the funds on January 13, 2017.
The Borrower agrees to repay the Principal Sum on demand, together with interest calculated and compounded monthly at the rate of 6% per year (the “Interest”) from January 13, 2017. The Borrower is liable for repayment of the Principal Sum and accrued Interest and any costs that the Lender incurs in trying to collect the Principal Sum and the Interest.
The Borrower will evidence the debt and its repayment of the Principal Sum and the Interest with a promissory note in the attached form.
| LENDER |
| BORROWER |
| Perla Capital Inc. |
| |
|
|
|
|
| Per: |
| Per: |
|
|
|
|
|
|
|
|
| /s/ Xxxxxxxxxx Xxxxxxxxx |
| /s/ Xxxxxx Xxxxxx |
| Xxxxxxxxxx Xxxxxxxxx |
| Xxxxxx Xxxxxx, CFO |
PROMISSORY NOTE
| Principal Amount: USD$25,000 | January 13, 2017 |
FOR VALUE RECEIVED Cell MedX Corp., (the “Borrower”) promises to pay on demand to the order of Perla Capital Inc. (the “Lender”) the sum of $25,000 lawful money of United States (the “Principal Sum”) together with interest on the Principal Sum from January 13, 2017 (“Effective Date”) both before and after maturity, default and judgment at the Interest Rate as defined below.
For the purposes of this promissory note, Interest Rate means six (6) per cent per year. Interest at the Interest Rate must be calculated and compounded monthly not in advance from and including the Effective Date (for an effective rate of 6.2% per annum calculated monthly), and is payable together with the Principal Sum when the Principal Sum is repaid.
The Borrower may repay the Principal Sum and the Interest in whole or in part at any time.
The Borrower waives presentment, protest, notice of protest and notice of dishonour of this promissory note
BORROWER
Per:
/s/ Xxxxxx Xxxxxx
Xxxxxx Xxxxxx, CFO
