EXHIBIT 4.3
EXTENSION OF AGREEMENT OF LOAN made and entered in the City and District of
Montreal, this 27th day of July, 1999.
BY AND BETWEEN: POWER PHOTO KIOSKS, INC., a corporation constituted under
the law of Canada and having its head office and principal
place of business located at 181 Whitehall Drive, in the
municipality of Markham, Ontario L3r 9T1, herein represented
by R. Terry Cooke, Esq. business Executive, its Chief
Financial Officer.
(hereinafter called the "Borrower")
AND: MLIC HOLDINGS INC., a corporation duly constituted under the
laws of Canada and having principal place of business
located at 999, boulevard de Maisonneuve Ouest, Suite 1775,
in the City and district of Montreal, Quebec, H3A 3L4,
herein represented by Murray Lester, Esq. Business
Executive, its President.
(hereinafter called the "Lender")
THE PARTIES HERETO DECLARE AS FOLLOWS:
1. THAT they have entered into an Agreement of Loan attached hereto as Exhibit
A;
2. THAT the maturity date of the said Agreement of Loan is July 30th, 1999;
3. THAT the parties agree that the maturity date is extended to August 31st,
1999;
4. THAT all terms in the Agreement of Loan shall be extended, except:
i) The interest for the 31 day extension shall be calculated on the basis
of four hundred and fifty dollars ($450.00) per day;
ii) In consideration of this extension MLIC HOLDINGS, INC. shall receive
an additional 10,000 shares in POWER PHOTO KIOSKS, INC. free of any
charge (total number of shares MLIC HOLDINGS, INC. shall have as of
August is now 5 0,000shares.)
5. THAT the Parties hereto declare that it is their wish that this Extension
of Lease be drawn in English. Les Parties aux presentes declarent que c'est
a leur demande que cette Extension de Bail soit re(illegible)gee en
anglais.
<PAGE>
IN WITNESS WHEREOF this Extension Agreement of Loan has been executed under the
seal of the undersigned at Montreal, this 27th day of July 1999.
Borrower: POWER PHOTO KIOSKS, INC.
Per:
/s/ Evelyn Armstrong /s/ Terry Cooke
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Witness
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Witness
Lender: MLIC HOLDINGS, INC.
Per:
/s/ Kenneth (Illegible) /s/ Murray D. Lester
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Witness
/s/ (Illegible)
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Witness
