Attached files
| file | filename |
|---|---|
| 10-K - YEAR END FILING - Pioneer Exploration Inc. | k.htm |
| EX-32 - Pioneer Exploration Inc. | exhibit32.htm |
| EX-31 - Pioneer Exploration Inc. | exhibit31.htm |
| EX-10.10 - Pioneer Exploration Inc. | exhibit10-10.htm |
| EX-10.11 - Pioneer Exploration Inc. | exhibit10-11.htm |
PROMISSORY
NOTE
DATED as of February 19,
2009.
TO: Blue
Cove Holdings Inc., # 4
Beaufort Road Nassau Bahamas
|
|
(the
“Creditor")
|
WHEARAS, we, Pioneer
Exploration Inc, are indebted to the Creditor in the amount of $50,000.00 for
funds that the Creditor advanced to us:
WE, Pioneer Exploration Inc,
Inc, of 750 West Pender Street, Suite 202, Vancouver, British Columbia, V6C 2T7
(the "Company"), promise to pay to the Creditor, at the address specified above,
the principal amount specified below ("Principal").
The
following are the terms and conditions of the Note:
|
|
1.
|
Principal
amount:
|
$50,000.00
due and payable from the Company to the
Creditor
|
|
|
2.
|
Maturity
date:
|
This
Note shall be payable on demand.
|
|
|
3.
|
Interest:
|
No
interest shall accrue on the outstanding
amount.
|
|
|
4.
|
Conversion:
|
At
any time prior to the date that the Principal is repaid, the Creditor, at
his sole option, may convert a portion or all of the Principal amount
outstanding into shares of common stock (the “Shares”) in the capital
stock of the Company. Each $1.20 of Principal outstanding may be converted
in to one Share.
|
|
|
5.
|
Currency:
|
All
funds and dollar amounts referred to in this Note are in the lawful
currency of the United States of
America.
|
|
|
6.
|
Jurisdiction:
|
This
Note shall be interpreted in accordance with the laws in effect from time
to time in the Province of British
Columbia.
|
|
|
7.
|
Resale
Restrictions:
|
If
the Creditor chooses to convert the Principal into Shares of the Company
pursuant to paragraph 4, the Creditor agrees and acknowledges that he will
comply with all securities laws relating to resale
restrictions.
|
IN WITNESS WHEREOF this
Promissory Note has been executed as of the day and year first above
written.
Pioneer
Exploration Inc.
Per: /s/ Tom Brady
_______________________________
Tom
Brady, Director