Copper North Mining Corp. (TSXV:COL) announced that it has entered into a commercial agreement to receive loan for gross proceeds of up to CAD 395,000 on September 13, 2019. The company will issue a grid promissory note. The transaction will involve participation from a private entity. Under the loan and all outstanding amounts will be represented by a grid promissory note issued by the company in favor of the lender and shall mature on the earliest of: September 12, 2021, or the sale of all or substantially all of the assets or shares of the company; or a liquidation, dissolution or winding-up of the company. Further amounts may be advanced during the term of the loan in increments of CAD 10,000 or more per advance pursuant to the terms of the note. The principal amount of the loan under the note shall bear interest at the rate of 10% per annum compounding annually. The company has the option to prepay any or all amounts owing under the note at any time, provided the total amount payable will include an accrued interest rate of 20% at the time of prepayment. On the same date, the company has received CAD 220,000 in its first tranche.