Loan Cooperation Agreement Date: August 5, 2010 Lender (Party A) : Fremery Holdings Ltd. Authorized Representative: K.P. Chan Borrower (Party B) : China Armco Metals, Inc. One waters park drive, suite 98, San Mateo CA 94403 Authorize Representative:...
Exhibit 10.25
Date: August 5, 2010
Lender (Party A) : Fremery Holdings Ltd.
000 Xxxxx Xxxxx, Xxxxxxxxx Xxxxx, 0 Science Museum Road, TST East, Kowloon, Hong Kong.
Authorized Representative: X.X. Xxxx
Borrower (Party B) : China Armco Metals, Inc.
Xxx xxxxxx xxxx xxxxx, xxxxx 00, Xxx Xxxxx XX 00000
Authorize Representative: Xxxxxx Xxx
After friendly consultations conducted between Party A and Party B, Party A has agreed to provide loans to Armco & Metawise (HK) Ltd., a Hong Kong based subsidiary of Party B.
The terms are as follows:
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1.
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Party A agreed to provide US$1,500,000 (UD Dollars one million five hundred thousand only) to Armco & Metawise (HK) Ltd. With account as follows:
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Account Name: Armco & Metawise (HK) Ltd.
Company Address:
1407 China Resources Xxxxxxxx, 00 Xxxxxxx Xxxx,
Xxxxxxx, Xxxx Xxxx
Bank Name: Raiffeisen Zentralbank Xxxxxxxxxxx XX (Beijing branch)
Full Address of the Bank:
200 Beijing International Club 00 Xxxxxxxxxxxxxx
Xxxxxx Xxxxxxx 000000 XX, Xxxxx
Bank SWIFT: RZBACNBJ
Bank Account Number: 19887
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2.
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Loan Period: One Month
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3.
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Interest: Interest to be 15% annually and 30% annually for the period after one month but maximum not more than 90 days
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Lender (Party A) : Fremery Holdings Ltd.
/s/X.X. Xxxx
Authorized Representative: X.X. Xxxx
Borrower (Party B) : China Armco Metals, Inc.
/s/Xxxxxx Xxx
Authorized Representative: Xxxxxx Xxx
