LOAN AGREEMENT November 24, 2021
LOAN AGREEMENT
November 24, 2021
Richard N. Jeffs (the Lender) of 11750 Fairtide Road, Ladysmith, BC V9G 1K5, advanced USD$35,000 (the Principal Sum) to Cell MedX (Canada) Corp. (the Borrower) of ###-###-#### Pender Street West. Vancouver, BC V6E 4A4. The Lender advanced the funds on November 24, 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 November 24, 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 (Canada) Corp. |
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Per: | Per: |
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/s/ Richard N. Jeffs | /s/ Yanika Silina |
Richard N. Jeffs | Yanika Silina, Director |
PROMISSORY NOTE
Principal Amount: USD$35,000 | November 24, 2021 |
FOR VALUE RECEIVED Cell MedX (Canada) Corp., (the Borrower) promises to pay on demand to the order of Richard N. Jeffs (the Lender) the sum of $35,000 lawful money of the United States of America (the Principal Sum) together with the Interest accrued on the Principal Sum calculated from November 24, 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 dishonor of this promissory note.
BORROWER
Cell MedX (Canada) Corp.
Per:
/s/ Yanika Silina
Yanika Silina, Director