Defiance Silver Corp. Announces Board Changes; Enters into Loan Agreement with an Entity Controlled by One of its Officers and Directors
The company announced that it has entered into a loan agreement with an entity controlled by one of its officers and directors which allows Defiance to borrow up to $200,000. The Loan is unsecured and will bear interest at the rate of 1% per month, accrued daily. Defiance did not file a material change report with respect to the loan agreement with the related party at least 21 days prior to the signature of such agreement as required by MI 61-101 as the decision to borrow funds from the related party was only made in the last couple of days.