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International Zeolite Corp V.IZ

Alternate Symbol(s):  IZCFF

International Zeolite Corp. is a vertically integrated industrial minerals company. Its principal business activities are the exploration and development of mineral properties and 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. Its segments include exploration and development, and retail and commercial sales. It has a Zeolite project in the Bromley Creek area located near Princeton, British Columbia (the Bromley Creek Zeolite Project). It holds 640.21 hectares of mineral claims leased from the British Columbia government. The Bromley Creek Zeolite Project consists of a total of one mineral lease and four mineral claims. Its products include NEREA and Natural Zeolite. NEREA is a material and method of direct crop and plant agronomy, offering an alternative to the hydroponics technique. Its products have applications in agriculture, industrial and home use.


TSXV:IZ - Post by User

International Zeolite Corp > Will This Turn Into A Demand Loan On Nov.21
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Post by phantom666on Nov 12, 2024 10:43am
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Post# 36308245

Will This Turn Into A Demand Loan On Nov.21

Will This Turn Into A Demand Loan On Nov.21And CoTec come collecting?

On November 22, 2022, the Company and CoTec Holdings Corp signed a financing agreement to make an investment in the Company to support its go-to-market activities in the agricultural and green tech segments, which resulted in a $300,000 bridge loan funding to the Company.

The Bridge Loan bears interest at 7% per annum and is repayable on the earlier of November 21, 2024, closing of a Private Placement with CoTec or a change of control of the Company.

The Bridge Loan is secured by a first ranking charge in favour of CoTec over all of the Company’s assets.

During the year ended June 30, 2024, the Company accrued interest of $21,000 (2023 - $12,250) on the loan.

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