LOAN AGREEMENT April 15, 2021

Contract Categories: Business Finance - Loan Agreements
EX-10.37 3 cmxc_ex1037.htm LOAN AGREEMENT AND NOTE PAYABLE DATED APRIL 15, 2021 Loan Agreement and Note Payable dated April 15, 2021

 

LOAN AGREEMENT

April 15, 2021

 

Richard N. Jeffs (the “Lender”) of 11750 Fairtide Road, Ladysmith, BC V9G 1K5, advanced USD$15,000 (the “Principal Sum”) to Cell MedX Corp. (the “Borrower”) of 123 W. Nye Ln, Suite 446, Carson City, NV 89706. The Lender advanced the funds on April 15, 2021.

 

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 April 15, 2021 (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

Richard N. Jeffs

Cell MedX Corp.

 

 

Per:

Per:

 

 

 

 

/s/ Richard N. Jeffs

/s/  Yanika Silina

Richard N. Jeffs

Yanika Silina, CFO

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

 

PROMISSORY NOTE

 

Principal Amount: USD$15,000

April 15, 2021

 

 

FOR VALUE RECEIVED Cell MedX Corp., (the “Borrower”) promises to pay on demand to the order of Richard N. Jeffs (the “Lender”) the sum of $15,000 lawful money of the United States of America (the “Principal Sum”) together with the Interest accrued on the Principal Sum calculated from April 15, 2021 (“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 Corp.

 

Per:

 

 

/s/ Yanika Silina

Yanika Silina, CFO