Amendment to Loan Agreement and Promissory Note between Methes Energies Canada Inc. and 1730636 Ontario Limited
Methes Energies Canada Inc. and 1730636 Ontario Limited have agreed to extend the term of their existing loan agreement and related promissory note. The new maturity date for the loan and repayment of the principal amount of $1,350,000 CAD is July 1, 2016. All other terms, including monthly interest payments, remain unchanged. Both parties have signed to confirm their acceptance of these modifications.
METHES ENERGIES CANADA INC.
4170 Sladeview Crescent, Unit 5
Mississauga, Ontario
L5LOA1
June 23, 2015
1730636 Ontario Limited
54117 Best Line
Aylmer, Ontario
N5H 2R3
Dear Sirs:
This will confirm our agreement to amend and modify the Loan Agreement between us dated June 21, 2013 and the related Promissory Note dated July 11, 2013.
| 1. | The term specified in the Loan Agreement is hereby extended to and shall end on July 1, 2016. | |
| 2. | The principal amount of $ 1,350,000.00 CDN now due under the Promissory Note shall be payable on July 1, 2016. |
All other provisions of the Loan Agreement shall continue in full force and effect including monthly payment of the interest.
| Very truly yours | ||
| METHES ENERGIES CANADA, INC. | ||
| by: | /s/ Han Swoong Ng | |
| Han Swoong Ng, President | ||
Accepted and agreed to this 23rd day of June, 2015
1730636 ONTARIO LIMITED
| by: | /s/Robert Thompson |
I have the authority to bind the Corporation.
