Loan Agreement between A. Bosa & Co (Kootenay) Ltd. and DSG Tag Systems Inc.

Contract Categories: Business Finance › Loan Agreements
Summary

This agreement, dated October 24, 2014, is between A. Bosa & Co (Kootenay) Ltd. (the lender) and DSG Tag Systems Inc. (the borrower). DSG Tag Systems Inc. agrees to repay a $250,000 loan to the lender, with interest accruing at 15% per year from the date of the agreement. Prior interest of $155,676.37 CAD was converted into 566,096 shares of common stock. The agreement also references a separate Debt Conversion Agreement for the converted interest portion.

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EX-10.5 2 ex10-5.htm ex10-5.htm
Exhibit 10.5
 
LOAN AGREEMENT
 
THIS LOAN AGREEMENT (this “Agreement”) dated this 24th day of October, 2014.
 
Between
A. Bosa & Co (Kootenay) Ltd.
(The Lender)

And

DSG Tag Systems Inc
(The Borrower)

DSG Tag Systems Inc. agrees to pay A. Bosa & Co (Kootenay) Ltd. $250,000 from remaining loans not converted to shares. The interest portion of the $250,000 loan prior to the date of this agreement had interest at 15% per annum accrued and converted to shares, the total amount of interest converted was $155,676.37 CDN. The interest was converted at $0.25USD per share (“Common Stock”), at the rate of USD = 1.10 CDN, for a total of 566,096 shares ($155,676.37 / 1.10 rate = $141,523.97 USD / $0.25 per share). The Debt Conversion Agreement is attached for the interest converted portion.

Interest will be accrued and paid at 15% per annum from the date of this agreement. Total interest accrued as of December 31, 2014 is $6,883.54 CDN.
 


/s/ Robert Silzer               
DSG Tag Systems Inc.



/s/ Bruno Benedet              
A. Bosa & Co. (Kootenay) Ltd.