Loan Agreement between BSmart Technology Limited and VGrab Communications Inc. dated July 12, 2016
BSmart Technology Limited, based in Hong Kong, agrees to lend $100,000 to VGrab Communications Inc., a company in Vancouver, Canada. The loan is interest-free and will be provided on July 13, 2016. VGrab Communications must repay the loan whenever BSmart requests it. BSmart also has the option to require that the loan be used to offset payment for a private placement under a separate share acquisition agreement. Both parties have signed the agreement through their authorized representatives.
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| VGrab Communications Inc. 810-789 West Pender St Vancouver, BC V6C 1H2 |
![[https://resources.contracts.justia.com/contract-images/ba34d73476f47c8e56eab2a19fa7a8e20b1ea0c4.gif]](https://resources.contracts.justia.com/contract-images/ba34d73476f47c8e56eab2a19fa7a8e20b1ea0c4.gif)
LOAN AGREEMENT
July 12, 2016
BSmart Technology Limited (the “Lender”) of Hong Kong, China agrees to advance USD$100,000 (the “Advance”) to VGrab Communications Inc. (the “Borrower”) of 789 W. Pender Street, Unit 810, Vancouver, BC V6C 1H2.
The funds will be advanced on July 13, 2016 (the “Effective date”) and will bear no interest.
The Borrower agrees to repay the Advance on demand.
The Lender may, in its sole discretion, request the Borrower to utilize the Advance to offset with the subscription monies of USD$100,000 for the private placement as stated in the Share Acquisition Agreement between Amber Key Limited and the Borrower.
| LENDER | BORROWER |
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| BSmart Technology Limited | VGrab Communications Inc. |
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| Per: | Per: |
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| /s/ Teang Son Thong | /s/ Jack P. Skurtys |
| Name: Teang Son Thong | Name: Jack P. Skurtys |
| Position: Director | Position: CEO |
