Exhibit No. 10.1
Transform Pack International, Inc.
File No. 0-31727
DEED OF LOAN
Between: BRUCE WEITZ, businessman residing at 37, Mc Grath Drive,
Cresskill, N.J. USA, 07626-1747,
(HEREINAFTER CALLED THE "LENDER");
AND: TRANSFORM PACK INTERNATIONAL INC., a corporation
duly Incorporated under the laws with its
registered office at Moncton, N.B. Canada,
(HEREINAFTER CALLED THE "BORROWER");
1. The Lender hereby agrees to grant to the Borrower a loan in
the amount of 100,000,00 $ USD, which amount is to be disbursed
in one installment after the signature of the present agreement.
2. Until the complete repayment of the loan, thereof, the said
loan or any balance Thereof remaining unpaid shall bear interest
at the rate of 10 percent (10%) per Year, calculated half yearly
and not in advance. All overdue interest shall bear Interest at
the rate stipulated above but shall remain eligible at all times
without necessity of any notice or putting in default.
3. The BORROWER hereby binds and obliges himself to repay the
amount of the present loan to the LENDER on demand of the said
4. To secure the repayment of the loan (capital, interest
and/or accessories), the BORROWER accepts to sign in favor of the
LENDER a promissory note for the amount of the loan
simultaneously to the present agreement.
5. The present agreement shall be interpreted according to the
laws of New Brunswick.
WHEREOF, the parties have signed this 19th day of
For the BORROWER
TRANSFORM PACK INTERNATIOAL INC.