Demand Promissory Note between R M Fresh Brands Inc. and Legacy Ventures International Inc.
R M Fresh Brands Inc. has issued a demand promissory note to Legacy Ventures International Inc., agreeing to repay a principal amount of CAD $166,961.70 upon request by the lender. The note does not accrue interest, and the borrower may repay the amount in full or in part at any time without penalty. The lender has the right to assign the note to another party. The agreement is dated August 30, 2016, and is governed by the terms stated in the note.
Exhibit 10.3
DEMAND PROMISSORY NOTE
| Principal Amount: | Maturity Date: |
| CAD $166,961.70 | ON DEMAND |
FOR VALUE RECEIVED, the undersigned (the "Borrower") hereby acknowledges itself indebted to LEGACY VENTURES INTERNATIONAL INC. (the "Lender") and promises to pay ON DEMAND to or to the order of the Lender the principal sum of ONE HUNDRED SIXTY-SIX THOUSAND NINE HUNDRED SIXTY-ONE DOLLARS AND SEVENTY CENTS ($166,961.70) (the "Principal") without interest thereon.
THE BORROWER shall be entitled to prepay the Principal at any time in whole or in party without penalty.
THE LENDER may assign any or all of its right, title and interest in, to and under this promissory note.
DATED at Toronto, the 30 day of August, 2016.
| R M FRESH BRANDS INC. | ||
| Per: | ||
| /s/ Rony Patel | ||
| Rony Patel | ||
