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4. Note Receivable
12 Months Ended
Dec. 31, 2016
Notes  
4. Note Receivable

4. Note Receivable

 

On September 30, 2014 the Company loaned $58,386 to Premium Exploration (USA) Inc under a convertible promissory note. The note carries simple interest at 8% and matured on August 1, 2015 at which time the principal and interest was due. Premium Exploration has since filed for bankruptcy and the Company is listed as a creditor in the bankruptcy proceedings and still expects to receive payment and has accrued no reserve for uncollectibility at December 31, 2016.