CONFIDENTIAL LOAN AGREEMENT
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CONFIDENTIAL
LOAN AGREEMENT
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Borrower:
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Raven
Gold Corp. (the “Company”)
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Lender
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Paradisus
Investment Corp. (the “Lender”)
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0-
Xxxxxxxx Xxxxx
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Xxxxxxx
X.X., Xxxxxx VOH 1V1
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Structure:
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Loan
(“LOAN”)
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Date
of Agreement:
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May
17, 2007 (the “Closing Date”)
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Effective
Date of
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Agreement:
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August
11, 2006 (the “Effective Date”)
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Principal:
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$75,000
USD
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Period:
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From
Closing Date and until the Maturity Date (the “Term”)
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Loan
Due:
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May
25, 2007 (the “Maturity Date”)
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Interest:
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7%
annually (“Interest”), to commence accruing on May 1,
2007
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Terms:
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This
Agreement is being entered into by the Company and the Lender in
order to
formalize the terms of the Loan made by the Lender to the Company
on the
Effective Date. The parties mutually acknowledge and agree that this
Agreement is being entered into on the Closing Date, and that the
Effective Date is the first date on which the Company had actual
full
right and legal authority to enter into, fully perform under, and
be
legally bound by this Agreement in accordance with its terms without
violating the rights of any other person.
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At
the end of Term the Company shall arrange to pay the Lender principal
plus
Interest. Interest is calculated at 7% annually and shall commence
accruing on May 1, 2007. At any time during the Term of this Agreement
the
Lender may at its discretion demand some or all of the principal
plus owed
interest.
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Confidentiality:
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The
parties agree to keep this Agreement and its contents confidential
and not
to distribute it to, or discuss it with, any third party (other than
the
parties' legal and financial advisors, who shall be informed of the
confidential nature of this document) without the prior express consent
of
the parties. Notwithstanding the foregoing, the Lender acknowledges
and
agrees that the Company shall file a Current Report on Form 8-K with
the
Securities and Exchange Commission (the "SEC"), upon the execution
of this
Agreement, setting forth the terms of this Agreement and filing a
copy of
this Agreement as an exhibit thereto. The Lender further acknowledges
and
agrees that the Company shall have the right to make any filing with
the
SEC or disclose the terms of this Agreement, without the prior approval
of
Lender if such disclosure is required by law, court order or the
SEC rules
or regulations.
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The
undersigned parties hereby represent and warrant that this term sheet
has
been duly authorized, executed and delivered.
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LENDER
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By:
/s/
Xxxx Xxxxxxxxx
Name:
Xxxx Xxxxxxxxx
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By:
/s/
Xxxxxxxx Xxxxx
Name:
Xxxxxxxx Xxxxx
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Title:
Chief Executive Officer
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Title:
President
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