LOAN AGREEMENT December 14, 2020
LOAN
AGREEMENT
December 14, 2020
Xxxxxxx X. Xxxxx (the “Lender”) of 00000 Xxxxxxxx Xxxx, Xxxxxxxxx, XX X0X 0X0, advanced CDN$25,000 (the “Principal Sum”) to Cell MedX (Canada) Corp. (the “Borrower”) of 820 0000 Xxxxxx Xxxxxx Xxxx. Xxxxxxxxx, XX X0X 0X0. The Lender advanced the funds on December 14, 2020.
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”) calculated from December 14, 2020 (the “Effective Date”). The Borrower is liable for repayment of the Principal Sum, accrued Interest, and any additional costs that the Lender incurs in trying to collect the amount owed to him under the terms of this Loan Agreement.
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 |
| Xxxxxxx X. Xxxxx | Cell MedX (Canada) Corp. |
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| Per: | Per: |
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| /s/ Xxxxxxx X. Xxxxx | /s/ Xxxxxx Xxxxxx |
| Xxxxxxx X. Xxxxx | Xxxxxx Xxxxxx, Director |
PROMISSORY NOTE
| Principal Amount: CDN$25,000 | December 14, 2020 |
FOR VALUE RECEIVED Cell MedX (Canada) Corp., (the “Borrower”) promises to pay on demand to the order of Xxxxxxx X. Xxxxx (the “Lender”) the sum of $25,000 lawful money of Canada (the “Principal Sum”) together with the Interest accrued on the Principal Sum calculated from December 14, 2020 (“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 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
Cell MedX (Canada) Corp.
Per:
/s/ Xxxxxx Xxxxxx
Xxxxxx Xxxxxx, Director
