Dear Sirs, Letter of Variation We refer to the Credit Agreement dated 4th October 2019 between
Exhibit 10.1
9th November, 2021
Dear Sirs,
Letter of Variation
We refer to the Credit Agreement dated 4th October 2019 between
The Coretec Group Inc (Borrower)
and
Diversified Alpha Fund Segregated Portfolio, Navigator Global Fund Manager Platform SPC
(Lender)
We are writing to inform you that with effect from 1st October 2021 your request to modify the terms and conditions of the repayment has been accepted.
As a result form 1st October 2021 The Coretec Group will not need to repay of the sums advance over a period of 36 months with the first payment due on the 15th day of the 13th month after the advance but capital will be repaid on the 15th day of the 4th anniversary of the advance made available.
| Payment Date | Amount Outstanding | Repayment date | |||
|
Tranche 6 |
06-March-2020 |
USD |
67,741.80 |
15-March-2024 |
|
|
Tranche 7 |
17-April-2020 |
USD |
150,694.44 |
15-April-2024 |
|
|
Tranche 8 |
22-June-2020 |
USD |
160,416.67 |
15-June-2024 |
|
|
Tranche 9 |
24-August-2020 |
USD |
97,222.22 |
15-August-2024 |
|
|
Tranche 10 |
21-September-2020 |
USD |
175,000.00 |
15-September-2024 |
|
|
Tranche 11 |
06-October-2020 |
USD |
175,000.00 |
15-October-2024 |
|
|
Tranche 12 |
19-November-2020 |
USD |
175,000.00 |
15-November-2024 |
|
|
Tranche 13 |
14-January-2021 |
USD |
120,000.00 |
15-January-2025 |
|
|
Tranche 14 |
14-January-2021 |
USD |
225,000.00 |
15-February-2025 |
|
Signed by Xxxxxxx Xxxxxxx for and on behalf of The Coretec Group Inc
16th November 2021
Signed by Xxxxxxx Xxxxx for and on behalf of Navigator Global Manager
Platform SPC obo Diversified Alpha Fund Segregated Portfolio
Date: 19th October 2021
