Loan Agreement
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Between: |
Morpheus Financial Corporation (“Lender”) | |
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And: |
Essential Innovations Technology Corp. (“Borrower”) | |
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TERMS OF LOAN | ||
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COMPANY |
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LENDER |
Morpheus Financial Corporation | |
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AMOUNT OWING |
$50,000 CDN | |
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INTEREST |
15% | |
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INVESTMENT |
Outstanding loan amount | |
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CLOSING |
August 15th, 2006 | |
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LOAN RE-PAYMENT DATE |
It is agreed the loan will be paid in its entirety of principal and interest no later than September 30, 2006, along with the issuance to the lender by the borrower of 150,000 cashless warrants @ $0.30/share USD exercisable until August 14th, 2011. | |
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Signed and dated this day of the 15th of August 2006 by: | ||
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Morpheus Financial Corporation |
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/s/ |
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/s/ |
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