VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 6, 2016) - Kaizen Discovery Inc. (TSX VENTURE: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.
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.
More information on Kaizen is available at www.kaizendiscovery.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.