Great use of company funds .
Related Party Transaction
VERY GOOD today also announced that it has entered into loan agreements with its Chief Executive Officer, Mitchell Scott, and its Chief Research & Development Officer, James Davison, to provide individual loans in the amounts of C$750,000 and C$500,000 to Mitchell and James, respectively (collectively, the "Loans"). The Loans were provided to enable them to meet certain personal financial obligations in respect to their residential homes. The Loans have an initial limited term of 90 days, subject to extension, at the sole discretion of the Company. To facilitate early repayment of the Loans, Mitchell and James may prepay the Loans at any time prior to maturity without penalty. The Loans bear interest at a rate of 9% per annum, payable monthly, and will be secured by certain financial assets commencing on January 18, 2022.