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Bullboard - Stock Discussion Forum International Zeolite Corp V.IZ

Alternate Symbol(s):  IZCFF

International Zeolite Corp. is a Canada-based minerals company. The Company is focused on exploration and development of mineral properties. The Company is also focused on the development, marketing, and sales of industrial commercial products from the production of its properties and the supply of raw materials from third party suppliers. The Company operates through two reporting segments... see more

TSXV:IZ - Post Discussion

International Zeolite Corp > How Broke Is IZ
View:
Post by phantom666 on Feb 24, 2024 10:11am

How Broke Is IZ

Read the Q2 MD&A yourself to see if you have the CCAA dancing in your heads, - 

On December 14, 2023, the Company and an officer/director of the Company signed a financing agreement to provide a bridge loan of $50,000 to the Company. The Bridge Loan bears interest at 7% per annum plus a lumpsum amount of $6,000 and is repayable on the maturity date of April 15, 2024. The Bridge Loan is secured by a first ranking charge in favour of the lending party over all of the Company’s assets. During the six months ended December 31, 2023, the Company accrued interest of $163 (2022 - $nil) on the loan.
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International Zeolite Corp