Summary of Oral Loan Agreement Between SusGlobal Energy Corp. and Vincent Ramoutar
SusGlobal Energy Corp. and its director, Vincent Ramoutar, entered into an oral agreement on April 11, 2018, under which Mr. Ramoutar loaned the company $19,928 (CAD $25,000). The loan carries a 12% annual interest rate, is unsecured, and is repayable on demand. There is no written contract for this loan; the terms are based on their verbal understanding.
Exhibit 10.44
Summary of Terms of Oral Agreement
The following summarizes the material terms of an Oral Agreement between SusGlobal Energy Corp. and Vincent Ramoutar.
On April 11, 2018, Vincent Ramoutar, a director of SusGlobal Energy Corp. made a loan in the amount of $19,928 ($25,000 CAD). The loan bears interest of 12% per annum, is due on demand and is unsecured. There is no written agreement evidencing this loan.
