Loan Agreement and Promissory Note between Tradex Capital Corp. and Cell MedX Corp. dated May 5, 2017
Tradex Capital Corp. loaned $50,000 to Cell MedX Corp. under an agreement dated May 5, 2017. Cell MedX Corp. must repay the principal amount on demand, with interest at 6% per year, compounded monthly from the effective date. The borrower is also responsible for any collection costs if repayment is not made. The agreement is formalized with a promissory note, and repayment can be made in full or in part at any time.
EXHIBIT 10.54
LOAN AGREEMENT
May 5, 2017
Tradex Capital Corp. (the “Lender”) of 1177 W. Hastings Street, Suite 1920, Vancouver, BC V6E 2K3, advanced USD$50,000 (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 March 8, 2017.
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”) from May 5, 2017. The Borrower is liable for repayment for the Principal Sum and accrued Interest and any costs that the Lender incurs in trying to collect the Principal Sum and the Interest.
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 |
| Tradex Capital Corp. |
| Cell MedX Corp. |
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| Per: |
| Per: |
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| /s/ William Friesen |
| /s/ Yanika Silina |
| William Friesen |
| Yanika Silina, CFO |
PROMISSORY NOTE
| Principal Amount: USD$50,000 | May 5, 2017 |
FOR VALUE RECEIVED Cell MedX Corp., (the “Borrower”) promises to pay on demand to the order of Tradex Capital Corp. (the “Lender”) the sum of $50,000 lawful money of United States (the “Principal Sum”) together with interest on the Principal Sum from May 5, 2017 (“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
