Promissory Note Between 2264793 Ontario Inc. and Canadian Cannabis Corp. Dated December 31, 2014
2264793 Ontario Inc. has agreed to repay Canadian Cannabis Corp. $4,953,160.42 Canadian dollars by December 31, 2015, unless both parties agree to extend the deadline. No interest will be charged on the loan. The agreement also waives certain formalities related to payment and allows the lender to pursue repayment even if arrangements are made with other parties.
Exhibit 10.4
PROMISSORY NOTE
| $CDN 4,953,160.42 | DATE: December 31, 2014 |
DUE DATE: On or before December 31, 2015 unless otherwise extended by the parties.
FOR VALUE RECEIVED, 2264793 ONTARIO INC. promises to pay to CANADIAN CANNABIS CORP., the sum of $CDN 4,953,160.42, together with interest at 0% per annum on the outstanding balance of the principal sum owing.
The undersigned hereby expressly waives presentment for payment, protest, notice of protest, demand for payment and notice of non-payment. Notice given to, or security taken from or release of any security or composition or arrangement entered into with any party hereto shall not prejudice the rights of the holder to proceed against any other party.
| 2264793 ONTARIO INC. | ||
| By: | /s/ Benjamin Ward | |
| Benjamin Ward, Secretary | ||
