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Kaizen Discovery Receives C$2.0 Million from Majority Shareholder HPX TechCo as a Partial Drawdown of Loan Facility

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Kaizen Discovery Receives C$2.0 Million from Majority Shareholder HPX TechCo as a Partial Drawdown of Loan Facility

 

 

 

 

 

Kaizen Discovery Inc. (TSX-V:KZD) announced today that it has received C$2.0 million from its majority shareholder, HPX TechCo Inc., as a partial drawdown of a C$5.0 million unsecured, revolving loan facility from HPX.

 

 

The C$5.0 million loan facility was established in 2013 as part of the reverse take-over transaction with HPX. Kaizen now has made three drawdowns on the loan facility, totalling approximately C$3.7 million. A balance of approximately C$1.3 million remains available to be drawn by Kaizen in the future.

 

 

Details of the HPX loan facility are summarized in Kaizen’s December 22, 2015 news release available at www.kaizendiscovery.com or www.sedar.com.

 

 

About Kaizen Discovery

 

 

Kaizen is a Canadian mineral exploration and development company. Kaizen has a collaboration agreement with ITOCHU Corporation of Japan and has access to HPX TechCo’s proprietary, geophysical, Typhoon technology under a dedicated services agreement. Kaizen’s long-term growth strategy is to work with Japanese entities to identify, explore and develop high-quality mineral projects that have the potential to produce and deliver minerals to Japan’s industrial sector.

 

Posted April 6, 2016

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