Vancouver, British Columbia--(Newsfile Corp. - February 4, 2019) - Kaizen Discovery Inc. (TSXV: KZD) announced today that it has drawn down US$750,000 under an unsecured promissory note provided by High Power Exploration Inc. (HPX), an affiliate of its majority shareholder HPX TechCo Inc.
"The loan clearly demonstrates continued support from our largest shareholder and provides us with additional flexibility to explore a range of strategic alternatives to help unlock the value of the company's exploration assets," said Tom Peregoodoff, Kaizen's President and Chief Executive Officer.
The unsecured loan facility has a maturity date of June 30, 2019, and has an interest rate of 10% per annum, compounding only at maturity. The interest rate will increase to 12% per annum in the event the Kaizen does not repay the amount owing upon the maturity date.
About Kaizen Discovery
Kaizen is a Canadian mineral exploration and development company with exploration projects in Peru and Canada. More information on Kaizen is available at www.kaizendiscovery.com.
Information Contact
Bill Trenaman +1-604-669-6446
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