Emerald Bay Energy Inc. has previously entered into a loan agreement (the "Loan") in the principal amount of USD$150,000 (the "Loan") with a corporation controlled by a shareholder of the Corporation (the shareholder controls, directly or indirectly, approximately 7.74% of the outstanding shares of the Corporation) (the "Lender").

The Loan was original made to the Corporation in 2012 to assist with certain drilling commitments of the Corporation and was subsequently extended and revised on January 1, 2014. The Loan bears interest at a rate of 12% per annum, with a term ending December 31, 2014.

Tags: Emerald Bay Energy Inc.